From Strategy to Execution

Quick Change Artistry

The world is quickly changing, and managers must respond to seven new phenomena:

1. Globalization – Globalization is dispersing the centers of economic power. Brazil, Russia, India and China, often called the BRIC countries, are rapidly becoming as important as the U.S., Japan and Europe – and eastern European, South American and Asian countries will soon follow. Already, the creation of economic value by a single company depends on interconnections that span several continents.
2. Innovation – Two critical management concerns are emerging: innovation in products and services, and innovation in business models themselves. Companies must learn to understand their value chains, identify their markets and manage their relationships with suppliers and distributors in new ways.
3. Strategic analysis – Using analytics is a powerful way to drive business strategy. Sophisticated analytical technologies are indispensable to dealing with the deluge of information confronting corporate managers.
4. Corporate social responsibility (CSR)