Archives for September 2011

Should you drop the I-word?

Tweet Type “innovation” into and you will get nearly 4, buy 700 results. For many ills, cialis innovation is seen as the panacea—management’s equivalent of motherhood and apple pie—and few would challenge its criticality. Indeed, denture | one recent news article click here war 2 movies about the holocaust described it as today’s equivalent of the Holy Grail. So to suggest dropping it from your company’s vocabulary may come as a shock—many of you will see it as deeply heretical, particularly riding on the coattails of the recent posts extolling Steve Jobs’s innovative genius. Most innovation efforts, however, are… Read more

Reframe your strategy to avoid hidden biases

Tweet The last ten years has seen increasing appreciation of how understanding behavioral economics can improve the practice of management.  Daniel Kahneman was awarded a Nobel Prize for his contributions to the development of behavioral economics; and with Dan Lovallo and Olivier Sibony he contributed an article for the June 2011 edition of HBR.  This describes the 12 most prevalent cognitive biases – including falling in love with ideas, doctor self-interest, medic confirmation bias, anchoring, groupthink, etc. – and outlines the questions that a decision-maker should ask before making strategic bets to uncover whether the recommendation being made has been… Read more