The 3 major strategic challenges of the war in Ukraine for EU companies

Global economy - Impact of the war in Ukraine

The Russian war against Ukraine has added another global crisis. It hits the world at a time, when it is still struggling with the effects of the corona pandemic and bracing itself for the growing climate crisis. The Ukrainian people pay the highest price for the Russian aggression in terms of lost lives, injured and … Read more

5 global trends that could influence your business in 2021

Strategic Thinking Outlook 2021

There has been no business forecast for 2020 that came even close to what happened in this extraordinary year. At least I am not aware of any such forecast. Wildcard events like the Corona pandemic and its effects on society and economy are hard to predict for a specific year. Yes, there have been several … Read more

5 economic trends that will influence your business in 2019

The year 2019 has started, and nobody exactly knows how the economy will develop over the coming 12 months. However, there are 5 trends already visible. They will have an impact on every business, no matter if you are self-employed or working for a large company. Even if you don’t think, these trends will have … Read more

5 Wirtschaftstrends die Ihr Geschäft im Jahr 2019 beeinflussen

Das Jahr 2019 hat begonnen, und niemand weiß genau, wie sich die Wirtschaft in den kommenden 12 Monaten entwickeln wird. Es sind jedoch bereits 5 Trends sichtbar. Sie haben Einfluss auf jedes Geschäft, unabhängig davon, ob Sie selbstständig oder bei einem großen Unternehmen beschäftigt sind. Selbst wenn Sie denken, dass diese Trends keinen direkten Einfluss … Read more

5 Signs Indicating You Need Strategy Coaching

Many C-suite and mid-level executives have by now understood and experienced the benefits of business coaching. The range of topics for business coaching is very wide. It includes leadership development, stress management, coping with change, and handling conflicts, to name just a few. One particular branch of business coaching which still requires more explaining is … Read more

5 Common Strategic Planning Mistakes SMEs Should Avoid

The experts have been debating the use of strategic planning for some time. Already in the mid-1990s, Canadian management professor Henry Mintzberg questioned the use of a formal strategic planning process in his book “The Rise and Fall of Strategic Planning”. And in view of fast, partly unforeseeable changes, there are good reasons to doubt … Read more

10 Common Business Plan Mistakes and How to Avoid Them

Every company needs an up-to-date business plan. Although this is most obvious for start-ups, it applies to established firms, too. A business plan keeps everyone on track in implementing the company’s strategy and reaching its business goals. There is plenty of information available via books and seminars on how to write a good business plan. … Read more

Listen to Your Intuition | Business Lessons from the World Chess Championship Match Carlsen – Karjakin, Part 6

After 12 games of the world chess championship between Magnus Carlsen and Sergey Karjakin the score was 6-6, and a tiebreak became necessary to get a decision in the match. The tiebreak on Wednesday, 30 November, consisted of four rapid games with 25 minutes plus 10 seconds increment per move for each player. With such … Read more

Face Your Mistakes | Business Lessons from the World Chess Championship Match Carlsen – Karjakin, Part 5

Game 10 of the world chess championship match between Magnus Carlsen and Sergey Karjakin was a tragicomedy of errors. In a slightly better position, Carlsen gave up his advantage through an inaccurate exchange of bishops in move 19. After that, Karjakin missed two opportunities for immediately forcing a draw. In view of his one-point lead … Read more

Managing Risks with Circumspection | Business Lessons from the World Chess Championship Match Carlsen – Karjakin, Part 4

On Monday, 21 November, the world chess championship match between titleholder Magnus Carlsen and his challenger Sergey Karjakin saw the first decided game after seven draws. Game 8 took a dramatic course and ended in a win for Karjakin with the black pieces after 52 moves. The game perfectly illustrates the fourth success principle from … Read more

Be Prepared | Business Lessons from the World Chess Championship Match Carlsen – Karjakin, Part 3

The Spanish writer Miguel de Cervantes (1547-1616) coined the famous phrase: “To be prepared is half the victory.” The current world chess championship match between titleholder Magnus Carlsen and his challenger Sergey Karjakin is proof that this old wisdom still applies. Both contestants appear extremely well prepared on three levels: chess openings, mental robustness, and … Read more

How to be Resilient | Business Lessons from the World Chess Championship Match Carlsen – Karjakin, Part 2

The character of the world chess championship match between world champion Magnus Carlsen and his challenger Sergey Karjakin has changed: while they were testing each other’s (and the viewers’) patience in games 1 and 2, just waiting for the other side to make a mistake that never happened, the next two games were characterized by … Read more