Summary of Two Reasons Companies Fail and How to Avoid Them

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The hallmark of great companies, according to business strategist Knut Haanaes, is finding the elusive sweet spot between “exploration” and “exploitation,” one that only 2% of firms achieve. Haanaes deftly explains the reasons so many businesses fail to locate this delicate balance and provides tips to help your firm strike a sustainable equilibrium. getAbstract recommends Haanaes’s practical, forthright advice to corporate leaders, strategists and innovators.

In this summary, you will learn

  • Why companies fail,
  • Why successful enterprises must find the balance between “exploration” and “exploitation,” and
  • What four strategies organizations can adopt to innovate and remain successful.
 

About the Speaker

Business strategist Knut Haanaes is a senior partner at the Boston Consulting Group’s Geneva branch.

 

Summary

Companies collapse for one of two reasons: They either fail to innovate or only innovate. Striking a balance between “exploration” and “exploitation” is the secret to success. ...

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