個案總覽

To make it through the downturn and return to growth, companies will need to rewire operations, reallocate resources, and in some cases reinvent business models. Joint ventures and partnerships can help many firms with those efforts. In this article, three consultants outline how companies can shore up their existing JVs through capital-raising, cost-reduction, and synergy-tapping techniques that often aren't available to wholly owned entities. The authors then describe how parent companies can strengthen their own financial positions by using JVs and partnerships to make partial divestments, consolidate businesses, and collaborate on capital-light, low-risk growth initiatives. JVs are already ubiquitous in sectors under pressure, like energy, and in innovative industries such as life sciences. At numerous firms, they drive a large share of earnings. Given that their returns have been climbing, their impact is quite likely to remain strong or even increase in the foreseeable future.

Many companies can dramatically improve their products and services by using machine learning-an application of artificial intelligence that involves generating predictions from data inputs. Amazon, Google, and other tech giants are already experts at taking advantage of this technology. Smaller enterprises and late entrants, however, may be unsure how to do likewise to gain market share for themselves. This article suggests that early movers will be successful if they have enough training data to make accurate predictions and if they can improve their algorithms by quickly incorporating feedback derived from customers' behavior. Latecomers will need a different approach to be competitive: The secret for them is to find untapped sources of training or feedback data, or to differentiate themselves by tailoring predictions to a special niche.

If you're like most people, you're constantly fielding requests at work. The asks are formal and informal, large and small, and from all across the organization. The inflow is so great, you can't possibly agree to everything. So it's crucial to learn when to say no and how to say both no and yes. Tulgan, who spent decades studying what makes people the most highly valued, indispensable employees at organizations, presents a three-part framework for managing the flood of requests. First, assess each ask, systematically gathering the details that will allow you to make an informed judgment. If you do have to turn someone down, deliver a well-reasoned no. A good no is all about timing and logic--it's in order whenever things are not allowed, cannot be done, or should not be done. Moreover, it's communicated in a way that makes the asker feel respected. If the answer is yes, make it an effective one by explaining how you think you can help, pinning down the deliverables, and laying out a focused plan for execution. A considered no protects you. A good yes allows you to serve others, add value, and collaborate effectively. If you become skilled at conveying both, you can avoid burnout, increase your influence, and enhance your reputation.

Since Donald Trump took office in January 2017, he has issued tens of thousands of tweets--some positive, some angry, some serious, some bonkers. Invariably, the media reacts, as do we, the public. This may seem like a dynamic peculiar to our current moment, but while the technology is relatively new, the underlying human story is as old as the Republic. We U.S. citizens are obsessed with our presidents--always have been. But that's only part of the picture. What often escapes notice is presidents' equally intense obsession with how they are viewed by the citizenry and their unrelenting efforts to influence public opinion, working both through the press--from the 18th-century broadsheet to social media--and around it.

The singer, actor, and activist talks about using her own voice and the causes that most concern her.

In 2013 the genetic testing firm 23andMe received a cease-and-desist letter from the U.S. Food and Drug Administration forbidding it from selling its spit-in-a-tube DNA test to consumers. Since its founding, six years earlier, 23andMe had operated in a murky space: Previously, genetic tests were ordered only by doctors, and it was unclear whether the device the company sold to consumers to facilitate testing constituted a "medical device." Over the next two years, while it continued to sell tests giving consumers information about their ancestry and ethnic origins, 23andMe had to work with the FDA to gain regulatory approval for its consumer health product. This required the company to prove not only that the test was valid but also that test results could be understood by untrained consumers. CEO Anne Wojcicki writes that the process helped her recognize an element of Silicon Valley arrogance in how the company had previously dealt with regulators, and helped 23andMe improve its product and become more resilient.

For decades, the business world has embraced worker empowerment. But recently a countermovement--workforce optimization--has been on the rise. It treats labor as a commodity and seeks to cut it to a minimum by using automation and artificial intelligence, tightly controlling how people do their jobs, and replacing employees with contractors. This approach is especially prevalent in the tech sector and the gig economy. And it is cause for deep concern, says Wharton professor Cappelli. Optimization appeals to most executives because they've been taught how to do it and understand it. It aligns with hard priorities, like lowering costs, that make Wall Street happy. Yet there's no evidence that it improves business results. Moreover, history suggests that seeing people management as solely an engineering challenge leads to enormous problems. Taking responsibility away from workers demotivates them and undermines productivity and innovation. When algorithms make all the decisions, it isn't even clear how employees can make suggestions. Though many processes can still be improved by optimization, managers shouldn't choose it over empowerment. The key is to find the right mix of the two approaches, as the successful "lean production" model first introduced by Toyota does.

Many White people deny the existence of racism against people of color because they assume that racism is defined by deliberate actions motivated by malice and hatred. However, racism can occur without conscious awareness or intent. When defined simply as differential evaluation or treatment based solely on race, regardless of intent, racism occurs far more frequently than most White people suspect. As intractable as it seems, racism in the workplace can be effectively addressed. Because organizations are small, autonomous entities that afford leaders a high level of control over norms and policies, they are ideal sites for promoting racial equity. Companies should move through the five stages of a process called PRESS: (1) Problem awareness, (2) Root-cause analysis, (3) Empathy, or level of concern about the problem and the people it afflicts, (4) Strategies for addressing the problem, and (5) Sacrifice, or willingness to invest the time, energy, and resources necessary for strategy implementation.

Even in severe economic downturns and recessions, some companies are able to gain advantage. In the past four downturns, 14% of large companies increased both their sales growth rate and their EBIT margin. A shock like the Covid-19 pandemic can produce lasting changes in customer behavior. To survive and thrive in a crisis, begin by examining how people are spending their time and money. Challenge traditional ideas and use data to actively seek out anomalies and surprises. Next, adjust your business model to reflect behavioral changes, considering what the new trends might mean for how you create and deliver value, whom you need to partner with, and who your customers should be. Finally, put your money where your analysis takes you and be prepared to make more-aggressive, dynamic investments.

One of the most influential management thinkers of our time, Harvard Professor Rosabeth Moss Kanter, shares insights from her latest book. In an increasingly interconnected world, she describes the importance of recognizing that businesses are dependent upon the communities in which they operate. As a result, thinking 'outside the building' is a new leadership imperative-during and after COVID-19.

As businesses navigate the reopening of the economy during a global pandemic, a lot will be different. Many executives have expressed a desire to 'do the right thing'. But what is the right thing? The authors argue that the United Nation's Sustainable Development Goals can serve as guidelines. The 17 'SDGs' range from affordable and clean energy to climate action to partnerships to achieve the goals. One thing is certain, they say: Leading a company after COVID will require dealing sensitively with the pain, loss and financial consequences of the pandemic for stakeholders across the board.

In the midst of the global pandemic, the Outthinker Strategy Network and Thinkers50 assembled some of the world's foremost management thinkers (virtually, of course) to share their thoughts on leading in times of unprecedented uncertainty. In this compilation of highlights from six of the speakers, topics range from the effects of psychological safety on innovation (Edmondson) to the role of fear in human behavior (Lindstrom) to tips for innovating in times of crisis (Anthony).

One key lesson from the global pandemic crisis is that funding for medical research is woefully inadequate. The author argues that we must do better. The problem is, traditional innovation incentives such as research grants won't cut it. What is needed are Advanced Market Commitments (AMCs). The author defines the term and shows how AMCs work. The funding for innovation for medical research is a fraction of that devoted to other threats - notably national security. As the author indicates, our experience in 2020 suggests that our attention has been misfocussed.

Much has been written about the importance of embracing corporate social responsibility (CSR), but the author presents the findings to date about its evil cousin: corporate social irresponsibility (CSiR). She shows how unrealistic performance expectations, a pressure-cooker culture and stress are just some of the factors that lead to irresponsible workplace behaviour. She then advises what leaders can do to eradiate CSiR, including increasing diversity and ensuring that espoused values are enacted. She also discusses the role of the board and indicates how regulation can help.

Leaders are facing unprecedented uncertainty. But history clearly shows that no matter how stark the crisis, there are always opportunities to innovate and grow. The authors present four 'lenses' and ten questions that leaders can use to enable innovation. The lenses include a future-back strategy; jobs to be done; and encouraging innovation habits. Ultimately, they show that using the four lenses and asking 10 particular questions helps to bring clarity in the midst of a crisis by cutting through the fog of massive uncertainty.

Individuals in health systems around the world are unambiguously committed to meeting the challenges of COVID-19. An uncountable number of people are working tirelessly, often at risk of their own health and lives. But success requires far more than individual effort. The authors argue that organizations throughout the health system must systematically split up the burden of response in order to deal effectively with immediate needs - as well as those lurking around the corner. The authors argue for four distinct teams: an immediate challenges team; a remote services team; an external coordination team; and a scenario planning team. They describe each in detail and show that embracing this model will lay down a base for longer- term gains, both in healthcare and in health itself.

In an excerpt from his latest book, the author argues that the outsized success of a few outlier companies points to four steps that every business can take to contribute positively to the future of democratic capitalism: turn your back on reductionism; recognize that slack is not the enemy; guard against surrogation with multiple measurements; and realize that monopolization is not a sustainable goal. It won't be easy for executives to get started on this agenda, because it will mean unlearning ideas and beliefs that are deeply embedded. But as he shows, the unique results and competitive differentiation will be well worth the effort.

Simple changes to employee training can improve results. Plus: How to push past an ultimatum, the case for acquiring during a downturn, a vote for generalists, and more.

Why do people often resist knowledge that might benefit them? A new study suggests that they do so to protect their self-esteem.

Firms compete in an increasingly omnichannel environment. Customers no longer travel a single linear path but traverse a complex map invoking many channels, firm-owned and external, seamlessly through integrated technology. The associated changes in consumer behavior and the ways that firms engage consumers have led many to reshape the way they innovate their product portfolios. This article presents a structured overview of some of the most striking changes to firms' new product development (NPD) processes in B2C settings. Enlisting the classic NPD funnel, it describes how the omnichannel environment and its technologies affect speed and execution in each development stage. It illustrates key changes with examples from packaged goods, consumer technology, and fashion.