The word “strategy” too often brings to mind images of uptight executives in boardrooms, with heavy binders and spreadsheets, debating critical choices. Experts will tell you strategy is “a plan of action designed to achieve a major or overall aim.” Strategy is a science, and it’s serious.
In my forthcoming book, Seeing Around Corners (now available for pre-order wherever you buy books), one of the major themes is that a major blind spot for organizations is that they tend to see the world through the lens of their existing industry. There are a lot of good reasons for this, but it can cause otherwise smart organizations to stumble.
In a glass-walled boardroom overlooking the Hudson River wrapping around downtown Manhattan, the Statue of Liberty in the distance, our guest lecturer flicked on one of the strangest slides I’ve seen. Juxtaposed against a sleek, modern room were two medieval paintings. One of a fortress. The other of a ship.
Polyball is apparently Zurich’s blow-out party of the year. It’s hosted by the country’s top school of science and technology, ETH, the university where Einstein got his start (and rarely attended class). While this lovely irony reflects the city’s, uh, party scene, the students at ETH assured me it’s quite an experience.
Earlier this month, I spoke at the Human Resources Directors Conference in the United Kingdom. At the conference, I shared some material excerpted from my forthcoming book, Seeing Around Corners: How to Spot Inflection Points in Business Before They Happen, about how easy it is for executives to get trapped into an old way of thinking—and the new type of leadership model that is required in today’s highly transient advantage contexts.
This month, Harvard Business Review featured a compelling piece – “The Age of the Continuous Connection: When You Can Interact with Your Customers 24/7 You Need a New Business Model” – by Nicolaj Siggelkow and Christian Terwiesch, co-directors of Wharton’s Mack Institute for Innovation Management. The piece inspires some exciting new strategies to stay ahead of the competition. But we think it only scratches the surface of what is possible.
MIT’s recent billion-dollar commitment to its new AI-focused school, the Stephen A. Schwarzman College of Computing, represents an essential advance, not for its magnitude but for its plans to infect the rest of the university with AI.
In the world of strategy, there’s been a long-held belief in a sustainable competitive advantage—you find an attractive place in an attractive industry, throw up entry barriers, and exploit the advantage for a long period of time. However, in more and more parts of our economy, competitive advantages just aren’t lasting as long as they used to, and companies are having to continuously refresh their competitive advantages as they become irrelevant.
The folks at Fast Company and Forbes this month released their annual “most innovative companies” lists. Like many of us, I look forward to these lists every year. By championing those companies bold enough to challenge the status quo, they inspire all of us to do something different. By sifting from masses of companies the few that we should admire and emulate, they bring clarity to our innovation efforts.
After a flight home long enough to empty my inbox and complete three important pieces of work, I found myself in a quiet house, family sleeping upstairs, with time on my hands. So, I stretched out on my couch and indulged in a movie.