Nine out of ten startups fail. Or, if you prefer to look at the bright side, one out of ten startups succeeds. The crucial questions is now: what could you do to increase the odds of being the one in ten? There is no easy answer, and you will get ten different answers, if you … Read more
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Storytelling has proven to be an effective leadership tool in business communication. Or like US psychologist Howard Gardner said: “Every great leader is a great storyteller”. Thus, it is not surprising that executives at many major companies, like 3M, Nike, and Procter & Gamble, have embraced storytelling. A number of strategic leaders at these and … Read more
This post complements the blog article “How Strategic Leaders Use Storytelling”. Storytelling Checklist Even if you are a gifted storyteller, considering the following checklist may be useful. Sharing stories in the pub with friends is not the same as sharing stories with other executives and employees for strategic purposes. Thus, a systematic approach to strategic … Read more
Let me start with a question: how frequently do executives and employees ask general, business-related questions in your organization? If your answer is ‘Not too often’, I would recommend to ask yourself ‘Why?’ and ‘How could we change this?’. A tool for strategic leaders Questions are an indispensable tool for strategic thinking. Questions are the … Read more
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One of the most popular tools for strategy implementation is the Balanced Scorecard (BSC). More than two decades after it was presented to the public by Robert S. Kaplan and David P. Norton in 1992, the BSC has turned out to be one of the most popular management tools, which is not only used by … Read more
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Key performance indicators (KPIs) have become commonplace in large and medium-sized companies worldwide. However, despite the widespread use of KPIs, many companies still have not managed to get a high benefit from KPIs. Frequently, KPIs are just seen as a tool for measuring performance on an operational level. This approach misses the benefits KPIs can … Read more
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Despite their widespread use, corporate core values are probably one of the most underrated factors for competitive advantage. Rise of Corporate Values After the Dot-com Bubble All major companies nowadays have defined corporate values for themselves. See for example the results of a study conducted by Booz Allen Hamilton and the Aspen Institute already in … Read more
The resignation of Martin Winterkorn as chief executive of Volkswagen on 23 September has so far been the climax of the emissions cheating scandal. On 22 September, Volkswagen admitted to using software to change emissions test results for 11 million of its diesel engine cars sold between 2009 and 2015. The cheating and the emissions … Read more