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Leaders often view power as a purely personal quality, derived from their formal roles and titles, accreditations, skills, and experience; from the information they control and the reputation they've built; and from their charisma, resilience, and energy. But as most discover, effectively wielding power is rarely straightforward. Simply exercising control over others--the traditional concept of power--is often not the best strategy; it may not even be an option. Indeed, the most potent uses of power often involve no direct influence tactics at all. The authors have developed an approach to power that goes beyond exerting control and mobilizes others' energy and commitment. It focuses on three core dimensions: Situational power rests on the ability to align objectives, the environment, and bases of power. Relational power is about connections and coalitions: They can be a major source of support, advice, information, and resources--but if neglected or ignored, they can loom as potential points of resistance. Dynamic power involves continually adapting influence strategies to changes in organizational and social systems. The degree to which leaders draw on all three dimensions of power determines how effectively they get things done.

Many people don't tackle negotiations in a proactive way; instead, they simply react to moves the other side makes. While that approach may work in a lot of instances, complex deals demand a much more strategic approach. The best negotiators look beyond their immediate counterparts to see if other constituencies have a stake in the deal's outcome or value to contribute; rethink the scope and timing of talks; and search for connections across multiple deals. They also get creative about the process and framing of negotiations, ditching the binary thinking that can lock negotiators into unproductive zero-sum postures. Applying such strategic techniques will allow dealmakers to find novel sources of leverage, realize bigger opportunities, and achieve outcomes that maximize value for both sides.

The view of manual employees as mindless machines dates back to the Industrial Revolution, when most workers were poorly educated, and was entrenched by Frederick Taylor, whose bureaucratic model institutionalized a caste system of thinkers and doers that still persists. Which is unfortunate, because that model allows a vast reservoir of human ingenuity to go untapped. As a result, firm performance suffers. But there is a path out of this trap, as the French tire manufacturer Michelin has found. Since 2012, under the banner of "responsabilisation" (French for empowerment), the company has dramatically increased the authority and accountability of workers on the front lines. The firm kick-started this change through a bottom-up process involving targeted experiments in a handful of plants and slowly scaled up successful approaches. The outcome: A workforce that's deeply knowledgeable and relentlessly inventive, and that had delivered half a billion dollars in manufacturing improvements by 2020.

Humor is widely considered essential in personal relationships, but in leaders, it's seen as an ancillary behavior. Though some leaders use humor instinctively, many more could wield it purposefully. Humor helps build interpersonal trust and high-quality work relationships and influences behaviors and attitudes that matter to leadership effectiveness, including employee performance, job satisfaction, organizational commitment, and creativity. These benefits don't come without potential costs. The guidelines in this article suggest ways to capture the benefits of humor while avoiding the downside risks.

Although the Covid-19 crisis has halted travel in recent months, geographic mobility has become critical for managers and knowledge workers hoping to advance in today's globalized economy, and that trend is unlikely to reverse. Assignments far from headquarters can pay off financially and can boost your career by improving your problem-solving and leadership skills and building your networks. Yet they also have constraints and costs. Anyone contemplating such a move should think through its full implications first. Research on people in a variety of organizations around the world--from Indian bureaucrats to American consultants--suggests some common principles for getting the most out of relocations: Make moves early in your career, when hurdles are usually lower and you can apply the learning over many more years of work. Step out of your comfort zone to stretch your abilities. Find workarounds for constraints. To minimize the psychological costs, find ways to stay connected to home. Time your trips to HQ strategically, and plan the next step right from the start.

Although people tend to think of the American political system as a public institution based on high-minded principles, it's not. Politics behaves according to the same kinds of incentives and forces that shape competition in any private industry. Our elections and our legislative systems are drowning in unhealthy competition: The political-industrial complex wins, and the public interest loses. Business, in pursuing its short-term interests, has become a major participant in the politics industry, exacerbating its dysfunction. We can have healthy competition in politics--results, innovation, and accountability--by redesigning how we vote to connect acting in the public interest with getting reelected. Applying Porter's five forces framework illuminates the root causes of political dysfunction and points to the most powerful levers for transformation.

"At some point we will be able to reflect on the long-term consequences of this terrible time," the author writes. "Almost certainly [they] will include some good along with the bad." Negative experiences can bring a recognition of personal strength, the exploration of new possibilities, improved relationships with others, a greater appreciation for life, and spiritual growth. Posttraumatic growth often happens naturally, Tedeschi says, but it can be facilitated in five ways: through education (rethinking ourselves, our world, and our future), emotional regulation (managing our negative emotions and reflecting on successes and possibilities), disclosure (articulating what is happening and its effects), narrative development (shaping the story of a trauma and deriving hope from famous stories of crucible leadership), and service (finding work that benefits others).

Mia Ricci left a job she liked to join Rescue, the oldest and largest aid organization fighting global poverty. Her recruiter said she'd have an opportunity to work in the field--a major draw for her--but now her manager, who is distant and often unavailable, says that's unlikely. This fictional case study by Marcello Russo and Gabriele Morandin feature expert commentary by Lauren Barraco and Danielle Piendak.

The bold and brash captain of the U.S. women's soccer team talks about how she resets after losses, why she joined the racial justice protest, and more.

Mia Ricci left a job she liked to join Rescue, the oldest and largest aid organization fighting global poverty. Her recruiter said she'd have an opportunity to work in the field--a major draw for her--but now her manager, who is distant and often unavailable, says that's unlikely. This fictional case study by Marcello Russo and Gabriele Morandin feature expert commentary by Lauren Barraco and Danielle Piendak.

Mia Ricci left a job she liked to join Rescue, the oldest and largest aid organization fighting global poverty. Her recruiter said she'd have an opportunity to work in the field--a major draw for her--but now her manager, who is distant and often unavailable, says that's unlikely. This fictional case study by Marcello Russo and Gabriele Morandin feature expert commentary by Lauren Barraco and Danielle Piendak.

In the summer of 2019 in New Delhi, S K Shahi and his daughter, Meenakshi, faced a difficult problem. India had 19 centers of their non-profit, the Center for Social Responsibility and Leadership. Also called the 'Super 30' program, this offered free training for India's rigorous engineering entrance exam, the Joint Entrance Examination, to 30 - or sometimes 50 or 100 - high school graduates, selected by merit. Shahi and Meenakshi ran these centers using the corporate social responsibility funds donated by large state-owned companies in India, and some private companies. They had been operational for over a decade, with alumni working in academia, top tech companies, and education, having graduated from India's best colleges. They now had a difficult decision to make: should they expand in large metropolis cities - New Delhi; Kanpur; Mumbai - that would attract talented youth from all over India? Or else, given India's remote geographies and uneven distribution of income and educational benefits, was it best to expand to these tough regions to help those who most needed it? An additional source of concern was the operational and logistical cost of running centers in different parts of the country. What was the best way forward: city or town, urban or remote? New Delhi or Kashmir?

Since entering China in 1987 with its first restaurant in Beijing, KFC has been a great success and has become the largest quick-service restaurant (QSR) in the country. In 2015, Joey Wat was named Chief Executive Officer of KFC China. In the following year, Yum China (NYSE: YUMC) spun off from Yum! Brands and became an independent, publicly traded company. To expand KFC China's business one step further, Joey Wat had to navigate through a rapidly changing and increasingly competitive landscape. With China's rising economy and personal income levels, many more fast-food chains and snack choices entered the market and competition intensified. Moreover, over the years consumers were increasingly attracted to not only healthy diets, but also an enjoyable consumption experience. As Gen Z customers become the largest consumer base, they have shifted their focus more to value, personalized experience, and a sense of engagement in their food purchases, beyond just affordability and speed. For KFC, other issues were added to the challenge too: a high employee turnover rate and rising rent and labor costs. With highly standardized products and a stable ticket average, how should KFC move forward amid the new and challenging dynamics to achieve a breakthrough? KFC China had started its digital ecosystem early and built up powerful digital capabilities. Under Joey Wat's leadership, KFC China made various attempts to drive productivity, reduce costs, and constantly improve the customer experience. How did digitalization help with these accomplishments? How did KFC China carry out the digitalization? Would digitalization continue to benefit the business in the future?

This case describes Ant Financial's pursuit of innovation and landmark achievements in the field of finance. These innovations not only made up for its shortcomings in traditional financial services by providing inclusive finance, but also created new segments such as credit leasing. These new services posed a great challenge to traditional financial institutions and, by doing so, helped these institutions become more competitive. However, despite all these achievements, Ant Financial also faced many challenges. As a trailblazer in uncharted territory, it faced great technical uncertainties and had to overcome numerous hurdles, including regulatory blind spots, pressure from competitors, and the need to define new boundaries in innovation. Ant Financial's senior management had always been aware of these challenges: in May 2019, they held a two-day meeting to discuss the sustainability and boundaries of innovation, seeking to answer questions about the meaning of sustainable innovation today, what legacy Ant Financial would leave for posterity, and why.

By creating shared value (CSV) for stakeholders, Xibei, a 31-year-old catering company, managed to hold on to the number one spot in the Chinese food and beverage market in 2019. Founder and Chairman Jia Guolong said that the company's creation of shared value for stakeholders was not a noble gesture, but a bid to generate higher business returns and rival other restaurant giants around the world. Over the past 31 years, this business model created a virtuous circle for Xibei, helping to continuously boost competitiveness. As of June 2019, Xibei ran 350 stores in 56 cities across China and had plans to expand into other markets. However, Jia recognized that it would be challenging to implement the CSV business model in the global market, which would test his and Xibei's ability to capture and deliver value. If Xibei shared value but did not reap the returns, then the model would not work. So, how would Jia adapt the CSV model for the international market?

This case recounts the story of Taiwan's electronic component distributors of the early 2000s, which innovatively pursued horizontal consolidation amid unprofitability and an ailing industry climate due to vicious competition. As a result, these companies had to address enormous challenges in effectively managing a post-merger organization. Specifically, it explains the background of the strategic marriage between WPI Group, Taiwan's leading electronic components distributor, and SAC, the third-largest player in the same industry. They joined hands under the umbrella of a holding company WPG Holdings through a share swap deal. The new firm was the result of an innovative industrial holding model formed from the alliance and set a precedent for the regional industry. For WPG's inaugural Chairman Simon Huang, managing such a complex organization would be one of the biggest challenges of his career.

This case describes the development of Natural Factory's social e-commerce model, the role of CSR in the founding of that model, as well as its successes and limitations. In 2018, Natural Factory boasted a turnover of more than ¥600 million, and by January 2019, it had accumulated nearly 6 million purchasing users and over 27 million followers. Despite the impressive growth, Natural Factory was struggling to acquire new users. Marketing products directly to end-consumers would allow the company to break through this bottleneck quickly but at the expense of the small-scale merchants to whom the company owed its success. Founding CEO Su Lujiang faced a serious dilemma: how could the company continue to acquire new users without alienating the old ones?

This case focuses on the actions of Beijing Baman Technology Co., Ltd. ("Baman") to improve supply chain performance to support its innovative "boundaryless dining" business model. These actions included defining supply chain strategies and roles, and driving upstream and downstream collaboration. As a start-up, Baman served authentic Hunan Changde beef rice noodles, earning its restaurant chain great popularity online through successful community marketing. It then innovated its business model by breaking time and space restrictions of traditional eateries and diversifying its portfolio to include dine-in, take-away and retail products. However, after expanding its retail SKUs, Baman suffered from a bloated inventory and faltering cash flow at the end of 2017. Company founder Zhang Tianyi then realized the importance of supply chain management and the different characteristics between restaurant and retail supply chains. Since 2018, Baman has made relentless efforts to build on supply chain management capabilities by clearly defining supply chain strategies, tactically segmenting the management of restaurant and retail supply chains, and improving supply chain efficiency while reducing costs through upstream and downstream collaboration. The case ends with an open discussion: how could Baman manage more complex supply chains to boost efficiency with lower costs? By depicting the story of a start-up, this case expands on how a company can improve its supply chain to facilitate business model innovation, which may serve as a reference for supply chain management of small and medium-sized enterprises in other sectors of the real economy.

This case describes the strategies and business models of Alibaba and JD.com (JD). After more than ten years of development, two giants-Alibaba, the world's largest online marketplace operator, and JD.com (JD), China's largest online direct sales operator-towered over China's e-commerce industry. In 2014, Alibaba and JD were listed successively, and in the first half of 2015, they disclosed their first annual reports after listing. These two financial statements attracted the attention of Zhang Wei, a sell-side investment manager who has just graduated from his EMBA program. To prepare for questions from his clients, he has begun to think about the differences between the strategies and business models of Alibaba and JD. How would these differences affect their financial statements? What are the investment highlights of the two companies?

This case describes how Alibaba and JD built their business empires and delivered results using their respective business models after going public. Shortly after Alibaba and JD.com (JD) released their respective annual financial reports in the first half of 2019, Zhang Wei, who had been recently promoted to Investment Manager, got a call from an institutional investor. The investor intended to purchase shares of Alibaba or JD, and hoped to assess the two companies' investment value from a financial perspective. Alibaba and JD adopt different development strategies and business models, ranking the top two in China's e-commerce arena. Which company is of higher investment value: Alibaba or JD? As a business school graduate, Zhang Wei has decided to analyze the two companies' financial statements, and based on that, evaluate the two companies' investment value and investment risk.