How do companies translate their strategy into operational actions that support it? Strategists use a different language than operational workers, and often the statements of the CEO have little connection with what the employees do. Christoph Loch, Stylianos Kavadias, and B. C. Yang suggest a tool that can help companies to align their employees’ actions with strategies, clearly explain that alignment, and encourage innovation from the bottom up and collaboration between departments, all in a way that can be completely customized to the company’s strategy.
When navigating the uncertainties of digital technologies, vigilant firms gain an edge by paying close attention to what is happening on their periphery and fostering organizational agility, so they are ready to act when the time is right. George Day and Paul Schoemaker examine three key principles that underpin organizational vigilance and show how Adobe's leaders used them to great effect.
The consensus in social psychology is that monetary incentives for performance have a detrimental impact on individual performance. Yes, under certain specific and limited conditions, rewards can reduce performance. Yet pay for performance schemes are ubiquitous. How can we resolve this divergence between theoretical recommendations and observed practices? Nirmalya Kumar and Madan Pillutla recommend solving the problem by designing smarter incentives that avoid these detrimental effects.
What is capitalism? Is it the greatest source of prosperity and freedom the world has ever seen or a menace on the verge of destroying the planet and our society? Rebecca Henderson argues that capitalism is the only solution to the massive problems that we face and explores the ways in which the private sector can help to reimagine capitalism so that it works for everyone.
Conversations about race in the workplace have long been silenced. Recently, though, leaders have begun to fervently embrace such conversations. Drawing upon academic research, Stephanie Creary provides a framework for having difficult conversations about race in US workplaces.
Digital technologies have significantly changed service industries, the largest segment of the US economy. The convergence of the creation, consumption, and delivery processes of services across a range of sectors, followed by rapid industrialization, has had a powerful effect on revenues, job shares, wages, and sector structure. Uday Karmarkar explains why companies must respond to these challenges rapidly or risk being perpetual laggards.
In response to Yossi Sheffi's article, “The Real Inconvenient Truth,” Mayers and Koomey argue for the use of a variety of urgent measures to address climate change, rather than focusing primarily on long‐term development and dependency on carbon capture and storage. Citing the now competitive cost of renewable power and the success of several countries in enacting programs that address climate change, they urge the need for optimism.