You have spent a lot of time and resources on a project that has not generated expected results. Should you cut your losses and abandon the project or ramp up the commitment until it works? While there are different ways to evaluate whether an initiative should be stopped or continued, the most important thing is […]
Innovation is one of the most powerful ways for businesses to create shareholder value. While many companies do not view themselves as innovative and do not pursue innovation-driven value creation strategies, there are different innovation models and every company can adopt an innovation approach that best fits its business model, corporate DNA and operating environment. […]
The Internet and mobile communication technologies have brought about major changes in company organizational structures and operating realities. The changing nature of work and economic conditions in the Digital Age provide a great challenge and opportunity to completely rethink traditional corporate roles and relationships. When the Scottish-American engineer Daniel McCallum set forth corporate roles in […]
When many people of think of the concept of innovation they think of dramatic, transformative changes in the way things are imagined or done. While large jumps in how things work attract a great deal of attention, the bulk of innovation generally involves making very small improvements to designs, processes and routine tasks that are […]
Regardless of what profession we are engaged in, all of our work can be divided into discrete, concrete tasks. For a salesman, that might involve deeply studying a product’s features, identifying potential customers and making sales presentations; for an actor, that might involve taking voice lessons, studying acting methods and memorizing scripts. How well these […]
A large part of risk management involves trying to reduce or eliminate the negative impact of possible future events. This blog post discusses ways to manage risk under conditions of uncertainty. In Plato’s socratic dialogue Meno, Socrates sets forth what has become known as Meno’s Paradox. This paradox states that it is not possible for […]
Despite the large threat it can pose and the amount of resources that are spent in trying to eliminate it, risk continues to be one of the corporate world’s most damaging and elusive concepts. This blog post talks about risk and why it can be so difficult to define. Just as in ancient times when […]
Is more money always good for your business? This may sound like a trick question but from a financial perspective the answer is not as straightforward as you might think. Looking at capital value through the lens of cost benefit analysis, this blog post suggests that capital can hurt businesses as well as help them. […]