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Accounts of the copyright industries in national reports suggest that strong intellectual property (IP) rights support creative firms. However, mounting evidence from sectors such as video game production and 3-D printing indicate that business models based on open IP can also be profitable. This study investigates the relationship between IP protection and value capture for creative industry firms engaged in collective/open innovation activities. A sample of 22 businesses interviewed in this study did not require exclusive ownership of creative materials but instead employed a range of strategies to compete and capture value. Benefits for some firms resemble those for participants in private-collective innovation (PCI), originally observed in open-source software development. Advantages of PCI include the ability to commercialize user improvements and a reduction in transaction costs related to seeking and obtaining permission to innovate existing ideas. Some creative firms in this study were able to generate and capture value from PCI in two directions, upstream and downstream. These dynamics offer a mechanism to understand and articulate the value of openness for creative industries policy and management of creative organizations.

In analyzing the many stereotypes surrounding Arab Middle Eastern women's employment issues, this article focuses on women's labor participation and their career development in Gulf Cooperation Council (GCC) countries. We first unpack the stereotypes by demonstrating the progress of women's labor participation in the region. We then uncover the critical challenges of a high female unemployment rate during GCC countries' economic transformation in the non-oil sectors. We discuss the factors contributing to low women's labor participation and the difficulty of career advancement for women, including (1) norms and traditions; (2) job opportunities and workplace discrimination; and (3) role models, mentors, and networking. Finally, we provide recommendations on how to improve women's labor participation by involving the public and private sectors, deploying technology, and engaging in multilevel mindset change.

CEOs face constant scrutiny over their compensation packages. This scrutiny has only intensified amid discussions of CEO-to-employee pay ratios and income inequality nationwide. CEO retirement packages are criticized as camouflage compensation used to award excessive compensation to CEOs and were, prior to 2006, less transparent than they are now. Thanks to the transparent disclosures now required by the SEC, we have a better understanding of the types and amounts of compensation owed to CEOs after they depart or retire, termed inside debt. I investigate whether all CEO inside debt components share similar incentive effects and offers some thoughts on how companies might structure these packages to be most effective. I discuss the structure and incentive effects of the two primary components of inside debt: deferred compensation and supplemental executive retirement plans (SERPs). I explain why inside debt, particularly CEO SERPs, may actually help companies manage firm risk. Finally, I outline the best ways to structure inside debt so that it functions as a resource to manage firm risk and foster a long-term perspective rather than mirroring the incentive effect of equity, increasing risk, and encouraging a myopic focus.

Companies increasingly face the need for transformation in today's rapidly changing business environment, characterized by major shifts in technology, regulation, and customer behavior. A lack of strategic risk insight and foresight leaves many incumbents insufficiently prepared in the face of such deep uncertainty. We argue that traditional risk management falls short because it predominantly focuses on strategy execution while leaving strategy formulation largely untouched. Moreover, an administrative-heavy risk management process can create strategic inertia and a misleading sense of control. In today's dynamic business context, companies must not only increase the speed and impact of their strategy execution but also continuously explore the development of new strategies in response to disruptive events or emerging opportunities. Our research shows how leading companies develop a strategic risk management (SRM) capability to increase their resilience and agility in response to deep uncertainty. SRM takes a strategic, forward-looking perspective and focuses on strengthening processes, people, and practices for purposefully integrating risk into the strategy formulation process. This article offers a framework with three proven configurations of content and timing integration, risk management roles, and leading practices that enable effective SRM.

Humility as a virtue of leadership has attracted increased attention in recent years. We introduce the concept of a humble organizational culture and define it as a culture that promotes humility as a key success factor and a source of competitive advantage, and one that institutionalizes six values and norms: (1) employee development, (2) mistake tolerance, (3) transparency, (4) accurate awareness, (5) recognition, and (6) openness. We position a company culture of humility as key to extraordinary success in the marketplace. Humility in individuals includes a willingness to see the self accurately and a propensity to put oneself and others in perspective. In this article, we offer a set of recommendations to help executives build a company culture of humility that supports the six behavioral norms and values that create the foundation for a firm's competitive advantage. We collected information on organizational cultures of humility for a sample of Fortune 500 firms using data from company mission statements, company websites, and news articles.

The importance of the candidate experience has only recently gained attention as the war for talent ensues. Despite its importance, there is a paucity of research examining the exchange relationship between the job candidate and the organization during the recruitment process. This article presents a model-illustrating the connections and exchanges made among an organization, the job candidate, and the organization's recruitment process-that forms the candidate experience and, in turn, affects the employers' brand either positively or negatively. Based on this framework, guidelines are presented to assist organizations in ensuring a positive candidate experience that will result in the strengthening of the employer brand and improving recruitment and business outcomes. Some of these business outcomes include strengthening relationships with customers and investors, referring friends to the company, and participating in future searches conducted by the organization.

Underconfidence among women can reduce their career aspirations and thwart advancement in whatever career they choose. For managers seeking to retain and promote capable women, we recommend addressing the gender gap in confidence to increase the effectiveness of women in the current workforce as employees and leaders and thereby attract the best new hires among women seeking opportunity. Based on a wide range of research and the broad experience of the authors, we discuss useful approaches-include helping women learn how to be more self-confident through classes and webinars-but also discouraging practices such as equating low confidence with low competence. The entire organization can benefit when its practices recognize the need for and payoff from reducing the confidence gap between women and men.

One of the most important goals in healthcare today is reducing costs while maintaining high-quality care. This article focuses on a triadic relationship that is responsible for a significant amount of nonlabor spending in hospitals: physician preference items. The triadic relationship among salespeople, physicians, and hospitals' supply managers has a direct influence on costs. Regarding some key purchases, the physician-salesperson relationship is closer than the physician-supply manager relationship-even though the latter two entities work for and within the same company and strive for the same mission. This reality creates a type of conflict that is perplexing to solve and costly to ignore. To better understand the sources of friction and opportunities for collaboration in this triad, personnel across hospitals, suppliers, and healthcare consortiums were interviewed. Herein, we introduce strategies to help resolve the conflict. It is essential that hospital supply managers continually negotiate for best solutions that consider both long-run costs and quality of patient care. Yet, salesperson motivations and close salesperson-physician relationships place barriers that prevent negotiations more common to other areas of spending. The strategies offered in this article highlight ways to mute negative and amplify positive effects of the physician-salesperson relationship.

Economic growth and a rising middle class consumer base make emerging markets an attractive prospect for many international businesses. Changing patterns of retail in these countries present opportunities for business expansion that many are keen to capitalize on, but also present challenges for reaching their ambitions. This article examines the growth of the coffee shop industry in China-considering its key dynamics and drivers-in order to address questions about successful retail expansion in emerging markets. We aim to explore how changing consumer cultures have contributed to a rapidly growing industry and what strategies businesses have used to enter the market and maintain growth, as well as considerations for potential retail success in the future.

In the 1950s the United Auto Workers negotiated a plan that allowed employees at the big carmakers to donate money directly from their paychecks to the local precursors of United Way. For most of the organization's history, it had no direct relationship with its donors. That has changed. Payroll deductions still play an important role, but United Way is moving to technology-driven engagement that allows individual donors to become more closely involved with the mission. In partnership with Salesforce, it has created a platform on which donors have their own home pages; there they can track all the gifts they've made and all the volunteer hours they've committed to causes and find content or policy news or volunteer opportunities relevant to their interests. It has found that individuals who engage with it online give more and continue giving from year to year. Today some 25,000 people have each given more than $10,000 to United Way; more than 600 have given $1 million; and 35 have given $10 million or more.

If "the essence of strategy is choosing what not to do," as Michael Porter famously wrote, then the essence of execution is truly not doing it. That may sound simple, but most organizations struggle to kill initiatives, even those that no longer support their strategy. Unaware of the cumulative impact or unwilling to part with pet projects or both, senior leaders pile on more and more, expecting teams to absorb it all. Productivity, engagement, performance, and retention tend to suffer as a result. In their consulting work the authors have observed several root causes of initiative overload, including impact blindness, multiplier effects, political logrolling, unfunded mandates, cost myopia, and inertia. Understanding those causes can help leaders diagnose the risks in their organizations and make smarter decisions about what to keep and what to kill. A step-by-step process can guide them. Leaders should: 1. Get a true count of the current initiatives across the enterprise; 2. Assess each one, identifying the business need, the required budget, the head count allocation, and the business impact; 3. Get senior leaders working together to establish priorities, in a discussion driven by the top leadership team and informed by candid feedback from below; 4. Establish a "sunset" clause for each initiative; 5. In yearly planning, require each initiative to reapply for funding and other resources; 6. Strongly communicate that stopping an initiative isn't a sign of failure. Organizations that learn how to wisely cut back can accomplish more in the areas that really matter.

While we know a lot about practices that stimulate new ideas, innovation teams often struggle to apply them. Why? Because people's biases and entrenched behaviors get in the way. In this article a Darden professor explains how design thinking helps people overcome this problem and unleash their creativity. Though ostensibly geared to understanding and molding the experiences of customers, design thinking also profoundly reshapes the experiences of the innovators themselves. For example, immersive customer research helps them set aside their own views and recognize needs customers haven't expressed. Carefully planned dialogues help teams build on their diverse ideas, not just negotiate compromises when differences arise. And experiments with new solutions reduce all stakeholders' fear of change. At every phase-customer discovery, idea generation, and testing-a clear structure makes people more comfortable trying new things, and processes increase collaboration. Because it combines practical tools and human insight, design thinking is a social technology-one that the author predicts will have an impact as large as an earlier social technology: total quality management.

Innovation clusters like San Francisco and Boston have long had an outsize impact on the global economy, and their influence keeps growing. In 2017, for instance, America's 10 largest tech hubs accounted for 58% of U.S. patents. Globally, cities such as Tokyo, Paris, Beijing, Shenzhen, and Seoul produced a similar proportion. The increased geographic concentration of innovation activity poses a challenge for firms based in suburban industrial parks. To stay relevant, they need to tap into urban hotbeds, but setting up operations there can be extremely expensive. In his work on global talent flows, Harvard Business School's Kerr has seen organizations try three solutions: At one extreme, they can relocate their headquarters to a hub, as GE recently did (but make them much smaller). A less expensive strategy is to create an innovation lab or corporate outpost in a talent cluster, as Walmart did with Walmart Labs. The most conservative strategy is to run executive retreats and immersions in talent clusters--a tactic Vodafone uses effectively. These three options aren't mutually exclusive. Given the need to stay in touch with multiple clusters, companies may want to try them all. Each one involves substantial risks that executives must manage. But together they offer a good playbook to firms that are finding themselves outside the action as the clout of a handful of cities grows.

Alibaba is not a retailer in the traditional sense. It doesn't source or keep stock, and logistics services are carried out by third-party providers. Instead, Alibaba is what you get if you take all the functions associated with retail and coordinate them online into a sprawling, data-driven network of sellers, marketers, service providers, logistics companies, and manufacturers. Indeed, Alibaba does what Amazon, eBay, PayPal, Google, FedEx, all of the wholesalers, and a good portion of manufacturers in the U.S. do, with a healthy helping of financial services for garnish. Alibaba achieves this by leveraging the new technologies of network coordination and data intelligence. It harnesses the efforts of thousands of Chinese businesses to create an ecosystem that is faster, smarter, and more efficient than traditional business infrastructures. This is an emerging business model that Ming Zeng, the chair of Alibaba's Academic Council, calls smart business. Players in the ecosystem share data and apply machine-learning technology to identify and better fulfill consumer needs. This article provides a framework for transforming a company into a smart business.

Grit, a combination of passion and perseverance, predicts success in many demanding fields. A perfect example is health care, where the grit of individual doctors and nurses has saved many lives. But today providing superior care is so complex that no lone practitioner can do it all. Great care requires gritty teams that never stop striving for improvement and institutions that exhibit grit across entire systems of providers. In this article Duckworth, the author of the best seller Grit, and Lee, a clinician and health care leader, describe health care's new model of organizational grit. It begins with hiring people with grit--who love what they do, always want to get better, and are resilient in the face of setbacks. Their single-minded determination stems from a clear personal-goal hierarchy, in which shorter-term objectives support a top-level goal that gives direction to everything they do. To be gritty, organizations must have a similar clarity about priorities, and their top-level goal and their employees' must be aligned. If everyone is pursuing a separate passion, a culture won't be gritty. The gritty health care organizations the authors have seen (such as Mayo Clinic and Cleveland Clinic) all make "putting patients first" their overarching goal and use it to guide every decision. They also work to cultivate grit by, for example, setting high expectations; offering the resources, support, and trust people need to keep learning and growing; and establishing strong social norms that promote their top-level goal. While the objectives of organizations in other sectors may differ, they can apply the principles the authors outline here to become gritty, too.

Companies often crimp profits by using discounts to attract price-sensitive customers and by failing to give high-end customers reasons to spend more. A multitiered offering can use a stripped-down product (the "Good" option) to attract new customers, the existing product ("Better") to keep current customers happy, and a feature-laden premium version ("Best") to increase spending by customers who want more. There's nothing new about this concept, of course--think of the different grades of fuel at any gas station and the varying packages marketed by cable TV providers, to name just two examples--yet many companies and industries have failed to embrace it. The author, a consultant who has helped many organizations adopt G-B-B pricing, presents a step-by-step guide to devising, testing, and launching the strategy. Key steps include identifying "fence" attributes that will prevent current customers from trading down from the existing offering; carefully choosing features and names to create clear differentiation and value; and setting prices using feedback from in-house experts and, when possible, drawing on conjoint analysis and other market research.

When we experience a setback at work, we tend to either become defensive and blame others, or berate ourselves. Neither response is helpful. Shirking responsibility by getting defensive may alleviate the sting of failure, but it comes at the expense of learning. Self-flagellation, on the other hand, may feel warranted in the moment, but it can lead to an inaccurately gloomy assessment of one's potential, which undermines personal development. Research shows that we should respond instead with self-compassion. People who do this tend to demonstrate three behaviors: First, they are kind rather than judgmental about their own failures and mistakes; second, they recognize that failures are a shared human experience; and third, they take a balanced approach to negative emotions when they stumble or fall short--they allow themselves to feel bad, but they don't let negative emotions take over. Self-compassion boosts performance by triggering the "growth mindset"--the belief that improvement is achievable through dedication and hard work. It also helps us connect with a more authentic self.

Although experts recommend eight hours of sleep a night, many of us don't get that. A recent study of leaders across the world found that 42% average six hours of shut-eye or less. Insufficient rest leads to poor judgment, lack of self-control, and impaired creativity. And the author's research shows that sleep-deprived bosses hurt their teams along with themselves: They are more likely to mistreat employees and create a workplace where people feel less engaged and may even behave less ethically. Fortunately, there are ways to get more and better rest. These include sticking to a regular bedtime and wake-up time; avoiding caffeine, nicotine, alcohol, and screen time before bed; tracking your sleep patterns and adjusting your habits accordingly; getting treatment for sleep disorders; and napping during the workday. If you make sleep a priority, you'll probably be a more productive-and inspiring-leader.

The host of "The Daily Show" on Comedy Central talks about getting that job, managing the transition, what he looks for in new hires, how he avoids burnout, and preparing to go onstage.

Best-selling author and regular on the Thinkers50 ranking of the world's most influential management thinkers, Daniel Pink discusses why timing is everything. He describes the bi-modal pattern that we all experience each day; the effects of these 'peaks' and 'troughs' on an organization; and why beginnings, mid-points and ends are so important to us. He then provides some practical advice for leaders that incorporates these lessons.