Firms within the same competitive environment (industry) respond in different ways to changing environmental (competitive) conditions. The authors of this book argue that the strategy field has not found answers to the questions that flow from this observation. They answer these questions by using what they call a "cognitively anchored theory of strategic change."
From the ill-fated dot-com bubble to unprecedented merger and acquisition activity to scandal, greed, and, ultimately, recession -- we've learned that widespread and difficult change is no longer the exception. By outlining the process organizations have used to achieve transformational goals and by identifying where and how even top performers derail during the change process, Kotter provides a practical resource for leaders and managers charged with making change initiatives work.
The Challenge Built to Last, the defining management study of the nineties, showed how great companies triumph over time and how long-term sustained performance can be engineered into the DNA of an enterprise from the verybeginning. But what about the company that is not born with great DNA? How can good companies, mediocre companies, even bad companies achieve enduring greatness? The Study For years, this question preyed on the mind of Jim Collins. Are there companies that defy gravity and convert long-term mediocrity or worse into long-term superiority? And if so, what are the universal distinguishing characteristics that cause a company to go from good to great? The Standards Using tough benchmarks, Collins and his research team identified a set of elite companies that made the leap to great results and sustained those results for at least fifteen years. How great? After the leap, the good-to-great companies generated cumulative stock returns that beat the general stock market by an average of seven times in fifteen years, better than twice the results delivered by a composite index of the world's greatest companies, including Coca-Cola, Intel, General Electric, and Merck. The Comparisons The research team contrasted the good-to-great companies with a carefully selected set of comparison companies that failed to make the leap from good to great. What was different? Why did one set of companies become truly great performers while the other set remained only good? Over five years, the team analyzed the histories of all twenty-eight companies in the study. After sifting through mountains of data and thousands of pages of interviews, Collins and his crew discovered the key determinants of greatness -- why some companies make the leap and others don't. The Findings The findings of the Good to Great study will surprise many readers and shed light on virtually every area of management strategy and practice. The findings include: Level 5 Leaders: The research team was shocked to discover the type of leadership required to achieve greatness. The Hedgehog Concept (Simplicity within the Three Circles): To go from good to great requires transcending the curse of competence. A Culture of Discipline: When you combine a culture of discipline with an ethic of entrepreneurship, you get the magical alchemy of great results. Technology Accelerators: Good-to-great companies think differently about the role of technology. The Flywheel and the Doom Loop: Those who launch radical change programs and wrenching restructurings will almost certainly fail to make the leap. “Some of the key concepts discerned in the study,” comments Jim Collins, "fly in the face of our modern business culture and will, quite frankly, upset some people.” Perhaps, but who can afford to ignore these findings?
A key resource for industrial and regional economists and those working in business schools, this book provides an analysis of the reasons and determinants of firm creation. Multi-disciplinary in approach it focuses on regional, industrial and individual determinants.
This research-based book investigates the effects of digital transformation on the cultural and creative sectors. Through cases and examples, the book examines how artists and art institutions are facing the challenges posed by digital transformation, highlighting both positive and negative effects of the phenomenon. With contributions from an international range of scholars, the book examines how digital transformation is changing the way the arts are produced and consumed. As relative late adopters of digital technologies, the arts organizations are shown to be struggling to adapt, as issues of authenticity, legitimacy, control, trust, and co-creation arise. Leveraging a variety of research approaches, the book identifies managerial implications to render a collection that is valuable reading for scholars involved with arts and culture management, the creative industries and digital transformation more broadly.
International Business in Times of Crisis classifies studies of crises relevant to international business research following a global pandemic which exposed systems failures and fragilities closely across global economic, financial, political, and social systems.
