From ancient sailors in search of new lands to Elon Musk in pursuit of passenger space travel, the North Star has served as both an inspiration and a guiding light.
Your company’s North Star should be its strategy – allowing it to deftly navigate the ups and downs of today’s rough economic seas.
“A good strategy can make or break a company, particularly in times of crisis or disruption,” says Professor Challagalla, who is leading the session “Do you have a good strategy?” at OWP liVe. By asking yourself seven important questions, Challagalla believes you can “cut through the noise” and determine whether your organization’s strategy is sound enough for success.
Challagalla shares the first two questions in this preview to his OWP liVe session as a head-start on tackling your strategy:
- Do you have a vision or purpose that provides clear direction?
Determining the right course requires profound thought and careful planning, says Challagalla: “Why is it so hard? Because strategy has become way too complex.” Your organization’s mission, vision, and goals and objectives are the key drivers, so map them clearly and methodically.
- Do you have the right portfolio of businesses to achieve your purpose and goals?
There is no one answer, but for some companies, a complex, wide-ranging portfolio of businesses can provide the support they need at each step along the way.
“If you have a definitive answer for these two questions, then you’re ready to move on to questions three through seven,” says Challagalla.
For a complete look into what makes a stellar strategy, learn more by enrolling in Challagalla’s session “Do you have a good strategy?” at OWP liVe today.
Research Information & Knowledge Hub for additional information on IMD publications
Although most managers believe that they give each of their team members equal attention, respect, and consideration, four decades’ worth of empiri...
While there is growing awareness of the need to demonstrate diversity in terms of race and ethnicity in images, organizations still fall into commo...
The findings of a global survey into AI and transparency offer practical guidance on how to demystify AI systems and communicate them more effectiv...
Prior research has identified the value of reconnecting dormant ties (i.e., people you used to know), allowing individuals to refresh relationships...
How an AI coach is helping human beings communicate better, for greater productivity and focus in the workplace of the future.
Many executives struggle with how to make their speeches more compelling. The most charismatic leaders think not just about what they say, but how ...
Being an inclusive leader involves listening, checking your assumptions – and admitting that you don’t know it all.
To create a truly inclusive culture, be conscious of how language and imagery are being used in your organization and provide guidance to help empl...
This note uses physics metaphors like energy and momentum as a framework for leaders to drive success in their organizations. Effective leaders mob...
Collaboration between humans and new forms of artificial intelligence (AI) are creating opportunities for considerable improvements in written comm...
in Harvard Business Review July-August 2024, vol. 102, issue 4, pp. 147-151
Research Information & Knowledge Hub for additional information on IMD publications
in I by IMD 3 June 2024
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
in Organization Science March-April 2024, vol. 35, no. 2, pp. 387-768, https://doi.org/10.1287/orsc.2023.1685
Research Information & Knowledge Hub for additional information on IMD publications
in I by IMD 29 February 2024
Research Information & Knowledge Hub for additional information on IMD publications
in I by IMD 24 January 2024
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications