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
Artificial Intelligence (AI) has been around for a long time. The term was coined in 1955 by John McCarthy. The concept goes back to the early days of computing when British computer pioneer Alan Turing hypothesized about intelligent machines in his seminal paper on “Computing Machinery and Intelligence” (1950). Progress of AI has been slower … Read more
The prevalent pressure for good quarterly results has led to the dominance of executives with a short- to mid-term focus. This applies particularly to large corporations. Truly strategic leaders have become rare these days. However, in the current times of uncertainty and rapid change, strategic leaders are needed more than ever. What are the distinguishing … Read more
Chess offers useful insights for business. On occasion of the current World Chess Championship 2014, I will highlight in a series of articles different business lessons to be learned from the game of kings. In part four, I explain why paying attention to details pays off in chess and business. Top chess players can focus … Read more
Chess offers useful insights for business. On occasion of the current World Chess Championship 2014, I will highlight in a series of articles different business lessons to be learned from the game of kings. In part three, I explore the role of preparation for success. Already three centuries ago, a famous American chess player knew … Read more
Chess offers useful insights for business. On occasion of the current World Chess Championship 2014, I will highlight in a series of articles different business lessons to be learned from the game of kings. In part two, I explore the topic of seizing the initiative. The second game of the World Chess Championship Match between … Read more
Chess offers useful insights for business. On occasion of the current World Chess Championship 2014, I will highlight in a series of articles different business lessons to be learned from the game of kings. In part one, I will focus on the importance of resilience for success in chess and business. On 8 November 2014, … Read more
Business leaders need a broad skillset in order to be successful. This includes a wide range of social and intellectual capabilites. However, the one competence that distinguishes sustainably successful leaders is their ability to think strategically. This is the key results of a study by Management Research Group, conducted in 2013 among 60,000 managers in … Read more
The game of chess is a model for strategic thinking and decision making under highly competitive conditions. Understanding how the world´s top chess players achieve success can give executives valuable insights on how to improve their own strategic thinking and decision making. What executives can learn from Anand versus Carlsen The World Chess Championship in … Read more