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The Power of Pull, written by John Hagel III, John Seely Brown, and Lang Davison, all of the Deloitte Center for the Edge, is a seven-chapter book published by Basic Books/Perseus Books Group. The subtitle is: How Smart Moves, Smartly Made, Can Set Big Things in Motion. Roughly the first half of the book discusses the concept of pull: the ability to harness the power of networks, drawing out people and resources as needed to address opportunities, and participating actively in a flow of knowledge rather than simply possessing knowledge. Pull helps access people and resources when required, attract people and resources that are relevant and valuable, and achieve personal potential more effectively by pulling from within the qualities of performance that success demands. The second part of the book explores how pull can be put into practice at the individual, institutional, and societal levels. Chapter 1 discusses what the authors call the "Big Shift" in organizational behavior from a "push" to a "pull" methodology. The ongoing catalysts for the Big Shift are the constant creation of new digital infrastructure; the easier flow of capital, talent, and knowledge; and the institutional innovations that the first two engender.

The Power of Pull, written by John Hagel III, John Seely Brown, and Lang Davison, all of the Deloitte Center for the Edge, is a seven-chapter book published by Basic Books/Perseus Books Group. The subtitle is: How Smart Moves, Smartly Made, Can Set Big Things in Motion. Roughly the first half of the book discusses the concept of pull: the ability to harness the power of networks, drawing out people and resources as needed to address opportunities, and participating actively in a flow of knowledge rather than simply possessing knowledge. Pull helps access people and resources when required, attract people and resources that are relevant and valuable, and achieve personal potential more effectively by pulling from within the qualities of performance that success demands. The second part of the book explores how pull can be put into practice at the individual, institutional, and societal levels. Chapter 2 discusses the first level of the concept of pull: access. Access involves the ability to find, learn about, and connect with resources on an as-needed basis to address unanticipated needs. In the past, access to resources was dependent upon "stocks" of knowledge - information known at a point in time. However, an ever-increasing amount of information makes these "stocks" more difficult to keep current and therefore less valuable. Access now requires a different approach utilizing "flows" of knowledge, or interactions that create knowledge or transfer it across individuals.

The Power of Pull, written by John Hagel III, John Seely Brown, and Lang Davison, all of the Deloitte Center for the Edge, is a seven-chapter book published by Basic Books/Perseus Books Group. The subtitle is: How Smart Moves, Smartly Made, Can Set Big Things in Motion. Roughly the first half of the book discusses the concept of pull: the ability to harness the power of networks, drawing out people and resources as needed to address opportunities, and participating actively in a flow of knowledge rather than simply possessing knowledge. Pull helps access people and resources when required, attract people and resources that are relevant and valuable, and achieve personal potential more effectively by pulling from within the qualities of performance that success demands. The second part of the book explores how pull can be put into practice at the individual, institutional, and societal levels. Chapter 3 discusses the second level of pull: attract. Due to the proliferation of information, accessing specific resources now depends more on serendipity than on searching. To increase the probability and quality of these chance encounters, access to not only digital social networks, but to the informational "edges" - areas of knowledge creation and economic growth where unmet needs and unexploited capabilities are found - of our interests is paramount.

The Power of Pull, written by John Hagel III, John Seely Brown, and Lang Davison, all of the Deloitte Center for the Edge, is a seven-chapter book published by Basic Books/Perseus Books Group. The subtitle is: How Smart Moves, Smartly Made, Can Set Big Things in Motion. Roughly the first half of the book discusses the concept of pull: the ability to harness the power of networks, drawing out people and resources as needed to address opportunities, and participating actively in a flow of knowledge rather than simply possessing knowledge. Pull helps access people and resources when required, attract people and resources that are relevant and valuable, and achieve personal potential more effectively by pulling from within the qualities of performance that success demands. The second part of the book explores how pull can be put into practice at the individual, institutional, and societal levels. Chapter 4 discusses the third and final level of pull: achieve. Achieving allows large numbers of participants to come together, through "creation spaces," to test and refine the practices required to exploiting their potential more efficiently. The authors challenge the concept of the "experience curve," offering their own "collaboration curve" that forms across institutions, yielding more diverse participants; this curve , unlike the experience curve, does not focus on learning, but is designed to drive more rapid performance improvement with learning as a byproduct.

The Power of Pull, written by John Hagel III, John Seely Brown, and Lang Davison, all of the Deloitte Center for the Edge, is a seven-chapter book published by Basic Books/Perseus Books Group. The subtitle is: How Smart Moves, Smartly Made, Can Set Big Things in Motion. Roughly the first half of the book discusses the concept of pull: the ability to harness the power of networks, drawing out people and resources as needed to address opportunities, and participating actively in a flow of knowledge rather than simply possessing knowledge. Pull helps access people and resources when required, attract people and resources that are relevant and valuable, and achieve personal potential more effectively by pulling from within the qualities of performance that success demands. The second part of the book explores how pull can be put into practice at the individual, institutional, and societal levels. Chapter 5 discusses how individuals can put the levels of pull into practice, as well as the elements of change (trajectory, leverage, and pace) needed to galvanize change within an institution. To fully utilize pull, individuals must do three things: make their passion their profession (trajectory), harness their ecosystems (leverage), and maximize their return on attention - the value they get for the time and effort invested in focusing on someone or something (pace).

The Power of Pull, written by John Hagel III, John Seely Brown, and Lang Davison, all of the Deloitte Center for the Edge, is a seven-chapter book published by Basic Books/Perseus Books Group. The subtitle is: How Smart Moves, Smartly Made, Can Set Big Things in Motion. Roughly the first half of the book discusses the concept of pull: the ability to harness the power of networks, drawing out people and resources as needed to address opportunities, and participating actively in a flow of knowledge rather than simply possessing knowledge. Pull helps access people and resources when required, attract people and resources that are relevant and valuable, and achieve personal potential more effectively by pulling from within the qualities of performance that success demands. The second part of the book explores how pull can be put into practice at the individual, institutional, and societal levels. Chapter 6 discusses how institutions can implement the power of pull. Institutions must redefine the trajectory for change, leverage passionate individuals from both inside and outside of the institution, and accelerate the pace of change by removing institutional barriers -- by embracing, for example, the power that social networking websites can have on the job.

The Power of Pull, written by John Hagel III, John Seely Brown, and Lang Davison, all of the Deloitte Center for the Edge, is a seven-chapter book published by Basic Books/Perseus Books Group. The subtitle is: How Smart Moves, Smartly Made, Can Set Big Things in Motion. Roughly the first half of the book discusses the concept of pull: the ability to harness the power of networks, drawing out people and resources as needed to address opportunities, and participating actively in a flow of knowledge rather than simply possessing knowledge. Pull helps access people and resources when required, attract people and resources that are relevant and valuable, and achieve personal potential more effectively by pulling from within the qualities of performance that success demands. The second part of the book explores how pull can be put into practice at the individual, institutional, and societal levels. In the seventh and final chapter, the authors discuss the implementation of pull in the broadest economic and social environments. The authors focus especially on the concept of "shaping strategies" - galvanizing statements about the future of a market, an industry, or a broad social arena, that say how tomorrow will be different from today and how everybody will be better off thereby - and on increasing the flow of participation by people and resources toward a common goal.

On April 4, 2010, Apple Inc. launched the iPad, the company's third major innovation released over the last decade under its iconic CEO Steve Jobs. Apple's strategy of shifting its business into non-PC products had thrived so far, driven by the smashing success of the iPod and the iPhone. Yet challenges abounded. Macintosh sales in the worldwide PC market still languished below 5%. Growth in iPod sales was slowing down. iPhone faced increasing competition in the smartphone industry. And would Apple's latest creation, the iPad, take the company to the next level?

In the face of major disruption in the industry television networks have sought new revenue sources, implemented cost-cutting measures and strategized on ways to monetize online access to content. Programming changes, new advertising strategies, and deals via online distribution platforms are presented as means to capture the value of online video consumption.

Petro Refinery LLC, a crude oil refinery, faces an issue common in many production and service industries: finding the optimal product mix or input mix. A central difficulty is that each product consumes different amounts of the firm's shared resources, but contributes different revenues toward the firm's fixed costs. Managers do not necessarily want to sacrifice the production of one product for another just because one has a higher contribution. Even so, the best utilization of the firm's resources toward a good product mix should drive the firm's marketing strategy-what mix of products will result in the most profit? Petro Refinery is a simple but realistic exercise to illustrate product mix decisions.

Petro Refinery LLC, a crude oil refinery, faces an issue common in many production and service industries: finding the optimal product mix or input mix. A central difficulty is that each product consumes different amounts of the firm's shared resources, but contributes different revenues toward the firm's fixed costs. Managers do not necessarily want to sacrifice the production of one product for another just because one has a higher contribution. Even so, the best utilization of the firm's resources toward a good product mix should drive the firm's marketing strategy-what mix of products will result in the most profit? Petro Refinery is a simple but realistic exercise to illustrate product mix decisions.

This is an MIT Sloan Management Review article. Business strategy begins with operations, the competitive landscape and markets. But David Bach and David B. Allen of the IE Business School Center for Nonmarket Strategy argue that strategy should not end there. Rather, a robust nonmarket strategy that addresses government regulation, political and social movements, even activist opposition should figure strongly in any strategy. Nonmarket strategy starts with the premise that issues and actors "beyond the market" affect the bottom line. Which nonmarkets are most important? That depends on the key issues a company confronts. By identifying key issues, and then the actors who are shaping them, a company can begin to shape the nonmarket -- a crucial approach when the issue is core to the underlying market as well.

This is an MIT Sloan Management Review article. Nearly every aspiring entrepreneur or innovator has a business plan, and virtually all of these individuals believe that their business plan -- what we call Plan A -- will work. They can probably even imagine how they'll look on the cover of Fortune or Inc. And they are usually wrong. But what separates the ultimate successes from the rest is what they do when their first plan sputters. Do they lick their wounds, get back on their feet and morph their new insights into great businesses, or do they stick to their original plan? If the founders of Google, Starbucks or PayPal had stuck to their original business plans, we'd likely never have heard of them. Instead, they made radical changes to their initial models, became household names and delivered huge returns for themselves and their investors. How did they get from their Plan A to a business model that worked? Why did they succeed when most new ventures crash and burn?

This is an MIT Sloan Management Review article. Editor's Note: MIT Sloan Management Review first published "Business Crime: What to Do When the Law Pursues You" in our spring 2000 edition. In the article, author John L. Akula examined the state of how white-collar crime was being prosecuted in the United States. Given recent changes in both regulatory and legal standards affecting managers, we asked the author to explain how the landscape has changed for managers. His additions are published here alongside the 2000 article, annotating the original text.

A senior Blackstone director is deciding how aggressively to bid for Travelport, a travel distribution business containing several key services and platforms. Travelport's most important properties were Galileo, one of the top 3 global distribution systems (GDSs), CheapTickets and Orbitz, two online travel agencies. Blackstone was competing in an auction against several other large private equity firms with multi•billion dollar investment funds. The auction was about to enter its final round of bidding, with bids having reached $4 billion in the prior round. The Blackstone director (Schorr) and his team have to make three key judgments regarding Travelport. First, they need to develop a point of view on the structural attractiveness of the travel GDS industry. Secondly, they need to decide whether Travelport was a good business to own and identify the key sources of its value. The Travelport business is composed of many different sub•businesses that play in different parts of the travel value chain and some of these sub•businesses are more strategic than others. Thirdly, like most leveraged buyouts, Travelport will need to support a significant amount of debt as a result of the transaction. Chip and his team need to make a judgment on the stability of Travelport's businesses and its ability to generate consistent, predictable cash flows to service its debt obligations.

This short case presents the epilogue of The Auction for Travelport (A). Blackstone decided to bid on its own, acquired Travelport for $4.3 billion and subsequently went on to acquire another GDS, Travelspan, for $1.4 billion. It then merged the two GDSs and partially spun off in an IPO its online travel businesses, re-named Orbitz Worldwide; it retained the GDS and wholesale travel businesses. By the end of that year (2006), Blackstone had generated cost savings of $270 million. In 2007 Blackstone also undertook a major capital market transaction with Travelport, issuing a new $1.1 billion Senior Unsecured PIK Term Loan, which allowed Blackstone to take back all of its equity in the transaction. Subsequently, during the financial crisis of 2008 and 2009, Blackstone and Travelport repurchased the majority of the $1.1bn PIK loan and other debt in the open market at prices ranging from 18% to 57% of par value, generating a $610 million gain.

Companies have long prospered by ignoring what economists call externalities - the various impacts that a business has on its broader milieu but is not obliged to pay for. (Pollution is the classic example.) Now, claim companies must adopt a very different stance, thanks to growing industrial scale, better sensors, and heightened sensibilities. Increasingly, business impacts are laid at companies' doorsteps. The best companies don't react defensively but apply their energies to mitigating the problems they contribute to. Using an externalities-based framework will help managers deal with rising - and often competing - demands for corporate responsibility in a way that is defensible to all stakeholders.

China grew by 8.5% in 2009 and is poised to expand by more than 11% in 2010. That makes it a wonderfully attractive market. But it is also the most competitive and complex market on the planet. Chinese and foreign companies battle ferociously in almost every industry, and profit margins are lower there than anywhere else. Moreover, the Chinese government can intervene whenever it wants to and does so in unpredictable ways-as the January 2010 tussle with Google demonstrated. Some might think that only the brave or the foolhardy would rush into the country, but the author disagrees, claiming that no company can afford to ignore China anymore. In fact, he argues, CEOs have to integrate their China business with their international operations, so that the country can provide them with a global competitive advantage. Companies that don't make the shift will be elbowed aside by those that use China to transform their competitive positions.

Danaher's 25-year history of acquisition-driven expansion had produced healthy stock prices as well as above-average growth and profitability for more than 20 years; however, since mid-2007, Wall Street questioned the scalability of the company's corporate strategy and its reliance on acquisitions. Prudential Equity Group had downgraded Danaher to underweight status, citing concerns over its inadequate organic growth. In March 2009, its CEO wondered how to keep growing a company that faced changing world-wide economic circumstances, pressure from low-cost manufacturers, new competitors, flat or declining demand for company products, price increases for certain raw materials, and criticism from market analysts. Should he consider changing Danaher's growth strategy, or should he be confident that past successes were sustainable? Should he consider changes to the way Danaher made acquisitions or attempt aggressive organic growth? Should Danaher make larger acquisitions or increase the pace of deal making or would the answer lie in tighter integration of targets within each platform, where additional value could be created?

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