What are the key components of competitive advantage? When many people think of competitive strengths, they think of talented teams, innovative products, cutting-edge technology, and financial resources. However, a less commonly discussed yet extremely powerful tool to increase competitive ability is delegation. Effective delegation optimizes a company’s use of its resources, allowing it to compete […]
Design thinking is a powerful tool to find solutions to complex problems. Focusing on trying to deeply understand the people affected by a challenge, design thinking uses a multi-perspective, collaborative, and iterative approach to do things better. Due to its effort to eliminate bias and explore new ideas, design thinking can lead to unexpected solutions […]
Entrepreneurs, as well as established companies, continually look for growth opportunities. One of these opportunities is entering into blue ocean markets with large potential but little competition. But how can blue ocean spaces be identified and targeted before competitors find them? What factors make the emergence of these market spaces more likely? What are the risks […]
With the advent of tools such as ChatGPT and the power of open source platforms, many traditional barriers to competition are increasingly falling. Tasks that previously took years of experience, required privileged access to data, and had to be implemented over long periods can now be done almost instantly by anyone with Internet access. These […]
While global interconnectedness has many benefits, it also creates the risk that events on one side of the world will dramatically and negatively impact companies on the other. This possibility raises the issue of what type of organizational structure and approach has the best ability to thrive in this type of environment. In Nassim Nicholas […]
Particularity when times are challenging, what companies often need the most is an asset that cannot be found on a traditional balance sheet: creativity. While corporations are often not associated with creativity, the track record of businesses in thinking outside of the box is mixed. Some corporations have been responsible for breakthroughs that have completely […]
Significant media attention has been given to the phenomenon of “quiet quitting”, the decision by an employee to do the bare minimum required at work. Given the challenges that companies as well as employees have faced during the Covid pandemic, quiet quitting has drawn sharply divergent opinions, with some viewing quiet quitters as slackers with […]
Rather than an integrated process where risk is distributed evenly from beginning to end, innovation is a series of discrete steps whose risk and role in the innovation process can be highly different. Failing to look at parts of the innovation cycle in discrete terms and integrate them with appropriate internal and external resources often […]
One possible corporate innovation pathway is intrapreneurship, entrepreneurial activity that is carried out within a firm. As an innovation catalyst, intrapreneurship has many potential advantages, including accelerating firm innovation cycles, reducing entrepreneurial risk and building a firm culture that can generate many positive organizational changes. This article analyzes the potential of intrapreneurship to create shareholder […]
Business development by definition often involves transformation and transformation very frequently requires overcoming different types of obstacles. Common strategies for facing obstacles, including knocking them down or trying to avoid them, often turn out not to be cost-effective or, worse, counterproductive. Given this, one useful tool that we can use to confront obstacles is the […]
