{"title":"Editor’s letter","authors":"Robert M. Robert","doi":"10.1108/sl-07-2020-199","DOIUrl":"https://doi.org/10.1108/sl-07-2020-199","url":null,"abstract":"","PeriodicalId":39797,"journal":{"name":"Strategy and Leadership","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-07-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1108/sl-07-2020-199","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43943377","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Mark Johnson: “Future-back” strategizing for beyond-the-core growth","authors":"B. Leavy","doi":"10.1108/sl-05-2020-0070","DOIUrl":"https://doi.org/10.1108/sl-05-2020-0070","url":null,"abstract":"\u0000Purpose\u0000Interview with Mark W. Johnson, Innosight co-founder and former consultant at Booz Allen Hamilton,an authority on the application of disruption theory. ]His latest book, Lead From the Future: How to Turn Visionary Thinking into Breakthrough Growth, co-authored with Innosight partner Josh Suskewicz, addresses the challenge of how to strategize for the beyond-the-core breakthrough initiatives which will be key to sustaining future growth.\u0000\u0000\u0000Design/methodology/approach\u0000His interviewer is Brian Leavy, emeritus professor of strategy at Dublin City University Business School and a Strategy & Leadership contributing editor. The interview focuses on Future-back thinking and a set of allied processes that can help leaders think further out than the three to five years that most set as their planning horizons. Then they can identify the threats and opportunities that await them and envision their best path forward.\u0000\u0000\u0000Findings\u0000Future-back thinking and planning begins with exploring and envisioning–actively, intensively and imaginatively immersing yourself in your organization’s likely future and then determining what you must do to not only fit into that environment but to actively shape your enterprise to thrive in it.\u0000\u0000\u0000Practical implications\u0000Future-back thinking is geared to discovery, so it is\u0085what you use when you need to develop a market-creating innovation or new business model to fill a projected gap–to explore, envision and then chart out a new path.\u0000\u0000\u0000Originality/value\u0000The lesson for leaders: when programming a breakthrough strategy, you need to formalize the roles and responsibilities of the senior leadership team as its champions and overseers, set up an organizational model that will protect those teams from the countervailing influences of the core and ensure that the initiative is managed with an explore, envision and discover approach.\u0000","PeriodicalId":39797,"journal":{"name":"Strategy and Leadership","volume":"48 1","pages":"9-17"},"PeriodicalIF":0.0,"publicationDate":"2020-06-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1108/sl-05-2020-0070","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47768052","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Risk as strategy: defending against catastrophic turns of fortune","authors":"J. Calandro","doi":"10.1108/sl-04-2020-0061","DOIUrl":"https://doi.org/10.1108/sl-04-2020-0061","url":null,"abstract":"\u0000Purpose\u0000The author offers executives a strategic process for proactively mitigating the risk of catastrophic unwanted Black Swan surprises that can severely, and often abruptly, impair a balance sheet.\u0000\u0000\u0000Design/methodology/approach\u0000One practical way to apply the author’s approach is through hedging concentrated balance sheet exposures when market volatility is low or contracting.\u0000\u0000\u0000Findings\u0000Though no one can reliably anticipate pandemics and related stock market turbulence, executives do not have to predict the future to economically protect their balance sheets from Black Swan events.\u0000\u0000\u0000Practical implications\u0000Managers can construct Black Swan scenarios to assess how an unforeseen, disadvantageous future could develop and which risk management derivative would best mitigate it.\u0000\u0000\u0000Originality/value\u0000This strategic approach to managing balance-sheet-threatening risks could help a firm outperform its competitors during future crises and catastrophes.\u0000","PeriodicalId":39797,"journal":{"name":"Strategy and Leadership","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-05-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1108/sl-04-2020-0061","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42383460","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Anthony Marshall, Anthony Lipp, Kazuaki Ikeda, R. Singh
{"title":"Ecosystems boost revenues from innovation initiatives","authors":"Anthony Marshall, Anthony Lipp, Kazuaki Ikeda, R. Singh","doi":"10.1108/sl-04-2020-0055","DOIUrl":"https://doi.org/10.1108/sl-04-2020-0055","url":null,"abstract":"\u0000Purpose\u0000Ecosystem partnerships are driving a dramatic change in the nature of business as industries as diverse as banking, automotive and retail are converging in unprecedented ways–and at an unprecedented rate. To learn how leading companies are embracing innovation in ecosystems to drive both value creation and competitiveness, the IBM Institute for Business Value in collaboration with Oxford Economics surveyed 1000 top executives in 19 industries and 29 countries between August and January 2019.\u0000\u0000\u0000Design/methodology/approach\u0000The survey cohort included 250 Chief Executive Officers, 150 Chief Financial Officers, 150 Chief Innovation Officers, 150 Chief Marketing Officers, 150 Chief Operations Officer and 150 Chief Alliance/Partnership Officers.\u0000\u0000\u0000Findings\u0000Analysis revealed that organizations with high engagement in ecosystems generate greater revenues from innovation initiatives. Specifically, revenues tied to innovation were more than 14 percent higher for ecosystem-engaged businesses than their less ecosystem-oriented peers.\u0000\u0000\u0000Practical implications\u0000The analysis showed that organizations differentiated on four innovation-enabling dimensions are more successful than others in ecosystem innovation. Their winning practices: 10;9;They lead with platforms for innovating in ecosystems. 10;9;They create the structures that enable the transformation of ideas into desired customer experiences in ecosystems 10;9;They establish effective, meaningful measurements for successful innovation in ecosystems. 10;9;They approach innovation with a collaborative mindset and create an environment of openness that shapes innovative behavior. 10;\u0000\u0000\u0000Originality/value\u0000The study identified the best practices of the most successful companies, ecosystem innovators. They excel across four innovation dimensions. They build platforms and employ ecosystems to better orchestrate customer experiences. They establish processes to effectively measure innovation within ecosystems in which they operate. They form organizational structures that institutionalize innovation. And they create and promote environments of openness and collaboration\u0000","PeriodicalId":39797,"journal":{"name":"Strategy and Leadership","volume":"48 1","pages":"17-27"},"PeriodicalIF":0.0,"publicationDate":"2020-05-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1108/sl-04-2020-0055","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43313395","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Why a culture of experimentation requires management transformation","authors":"S. Denning","doi":"10.1108/sl-04-2020-0048","DOIUrl":"https://doi.org/10.1108/sl-04-2020-0048","url":null,"abstract":"To create a culture of experimentation, Thomke says, firms need “a new model of leadership,” which cultivates curiosity, emphasizes data-informed decisions, experiments ethically, sets grand challenges and establishes systematic training and support for rapid experimentation [ ]the customer is the firm’s new boss “In an increasingly digital world,” as Mark Okerstrom, the CEO of Expedia Group told Thomke, “if you don’t do large-scale experimentation, in the long term – and in many industries the short term – you’re dead ” [ ]leadership and strategy have started shifting inexorably towards where front line workers and customers interact","PeriodicalId":39797,"journal":{"name":"Strategy and Leadership","volume":"48 1","pages":"11-16"},"PeriodicalIF":0.0,"publicationDate":"2020-05-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1108/sl-04-2020-0048","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42391053","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Stefan Thomke: The power of experimentation in the digital era","authors":"B. Leavy","doi":"10.1108/sl-03-2020-0047","DOIUrl":"https://doi.org/10.1108/sl-03-2020-0047","url":null,"abstract":"\u0000Purpose\u0000In this interview with Harvard innovation expert Stefan H.Thomke about his latest book, Experimentation Works: The Surprising Power of Business Experiments, he pays tribute to the scientific method and “the engine that has powered” it over the centuries, the “humble experiment.”\u0000\u0000\u0000Design/methodology/approach\u0000Professor Thomke anticipates a burgeoning role for business experimentation, one that it is already playing across the value chain, particularly in leading online companies.\u0000\u0000\u0000Findings\u0000Digital experimentation tools have the potential to revolutionize a company’s R&D, but they can also transform entire industries by shifting experimentation–and thus product innovation–to users and customers.\u0000\u0000\u0000Practical implications\u0000The ability to access large customer samples, to automatically collect huge amounts of data about user interactions on websites and apps, and to run concurrent experiments gives companies an unprecedented opportunity to evaluate many ideas quickly, with great precision, and at a negligible cost per additional experiment.\u0000\u0000\u0000Originality/value\u0000Product development is being transformed by rapid experimentation: all aspects of software–including user interfaces, security applications and back-end changes–can now be subjected to A/B tests.\u0000","PeriodicalId":39797,"journal":{"name":"Strategy and Leadership","volume":"48 1","pages":"3-10"},"PeriodicalIF":0.0,"publicationDate":"2020-05-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1108/sl-03-2020-0047","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43998729","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Benjamin Finzi, Vincent Firth, Maureen Bujno, K. Lu
{"title":"How CEOs can engage boards to become strategic assets","authors":"Benjamin Finzi, Vincent Firth, Maureen Bujno, K. Lu","doi":"10.1108/sl-02-2020-0024","DOIUrl":"https://doi.org/10.1108/sl-02-2020-0024","url":null,"abstract":"\u0000Purpose\u0000The authors suggest ways CEOs can orchestrate their relationship with their board to optimize its potential to become a strategic asset for the company, as distinct from its more traditional role as overseer of management.\u0000\u0000\u0000Design/methodology/approach\u0000To better understand how CEOs can actively engage their boards to make them become strategic assets, the authors conducted research involving more than 50 conversations with Fortune 1,000 CEOs, board chairs, directors, academics and external board advisors to ask them to share their experience and perspectives.\u0000\u0000\u0000Findings\u0000The challenge for both CEOs and boards is to fight the natural tendency to evade confrontations or smooth things over, rather than harness conflict to achieve higher-value decisions.\u0000\u0000\u0000Practical implications\u0000CEOs can also model confident transparency for their executive teams and send a strong signal that it is okay to share information about work in progress with the board even if it is not finalized.\u0000\u0000\u0000Originality/value\u0000The stakes have never been higher for CEOs as they are expected to manage, make sense of and take advantage of unprecedented levels of ambiguity and uncertainty. To help do this, they need board members who are fully engaged and willing and able to prod, push, challenge and champion–to work with their CEOs to get to better insight and decisions.\u0000","PeriodicalId":39797,"journal":{"name":"Strategy and Leadership","volume":"48 1","pages":"45-50"},"PeriodicalIF":0.0,"publicationDate":"2020-04-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1108/sl-02-2020-0024","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43868780","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Marco Iansiti and Karim Lakhani: strategies for the new breed of “AI first” organizations","authors":"B. Leavy","doi":"10.1108/sl-02-2020-0026","DOIUrl":"https://doi.org/10.1108/sl-02-2020-0026","url":null,"abstract":"\u0000Purpose\u0000This interview introduces the concept of the “AI first company”, a new breed of organization that is transforming the economy and defining the emergence of a new age.\u0000\u0000\u0000Design/methodology/approach\u0000An interview with Harvard digital strategy experts, Marco Iansiti and Karim Lakhani, about their new book, Competing in the Age of AI: Strategy and Leadership When Algorithms and Networks Run the World. Marco Iansiti is the David Sarnoff Professor of Business Administration at Harvard Business School (HBS) and heads the school’s Technology and Operations Management Unit and the Digital Initiative. Karim R. Lakhani is the Charles E. Wilson Professor of Business Administration at HBS, and the founder and co-director of the Laboratory for Innovation Science and co-founder of the Digital Initiative at Harvard. 10; 10;The authors were interviewed by Brian Leavy, emeritus professor of strategy at Dublin City University Business School and a Strategy & Leadership contributing editor.\u0000\u0000\u0000Findings\u0000Digital transformation is not about creating a digital function or spinning off a digital unit, it’s about fundamentally restructuring the core of the firm by building a data-centric operating architecture supported by an agile organization that enables on-going change.\u0000\u0000\u0000Practical implications\u0000Essentially, we are moving away from an era of core competencies that differ from industry to industry to an age shaped by data and analytics and powered by algorithms. The concept of network is superceding the concept of industry in defining strategic options for firms.\u0000\u0000\u0000Originality/value\u0000The emergence of the “Age of AI” has possibly created the greatest entrepreneurial opportunity in the history of civilization and the world is literally jammed with entrepreneurial activity. Marco Iansiti and Karim Lakhani suggest ways to maximize that opportunity.\u0000","PeriodicalId":39797,"journal":{"name":"Strategy and Leadership","volume":"48 1","pages":"11-18"},"PeriodicalIF":0.0,"publicationDate":"2020-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1108/sl-02-2020-0026","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49330761","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Amit Mukherjee: seven principles shaping digital strategy and leadership","authors":"B. Leavy","doi":"10.1108/sl-02-2020-0030","DOIUrl":"https://doi.org/10.1108/sl-02-2020-0030","url":null,"abstract":"\u0000Purpose\u0000In his new book, Leading in the Digital World: How to Foster Creativity, Collaboration and Inclusiveness, MIT leadership expert, Amit S. Mukherjee identifies seven principles that together help to define the new context for work, organization and leadership.\u0000\u0000\u0000Design/methodology/approach\u0000The seven principles offer a valuable template for corporate leaders everywhere seeking to understand the new leadership imperatives of the digital age and why the new era “calls for a new kind of leader – one who emphasizes creativity, collaboration and inclusivity.”\u0000\u0000\u0000Findings\u0000Today, discovering and serving unpredicted, unmet needs creates great customer value. A group that can draw on a multitude of lived experiences is more likely to uncover those than a cloistered, self-aggrandizing one.\u0000\u0000\u0000Practical implications\u0000The digital world requires executives to have a true collaboration instinct because, typically, no group possesses all the intellectual property necessary to accomplish creative, mission-critical tasks.\u0000\u0000\u0000Originality/value\u0000Amit Mukherjee’s seven principles offer a new set of insights into the shaping of emerging digital strategy and leadership. The message for leaders: Recognize that in the digital world you must primarily be the connector of people and ideas, not their approver or decider\u0000","PeriodicalId":39797,"journal":{"name":"Strategy and Leadership","volume":"48 1","pages":"33-38"},"PeriodicalIF":0.0,"publicationDate":"2020-03-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1108/sl-02-2020-0030","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45563428","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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