675 Posts found for Source: Harvard Business Review

You probably know by now that whenever possible you should be making data-driven decisions at work. But do you know how to parse through all of the data available to you? The good news is that you likely don’t have to do the number crunching yourself (hallelujah!) but you do need to correctly understand and interpret the analysis created by your colleagues. One of the … [ Read more ]

Content: Article | Author: Amy Gallo | Source: Harvard Business Review | Subject: Statistics

While there has been a rapid growth in experiments, especially within tech companies, we’ve seen too many run incorrectly. Even when they’re set up properly, avoidable mistakes often happen during implementation. As a result, many organizations fail to receive the real benefits of the scientific method. This article lays out seven steps to ensure that your experiment delivers.

Content: Article | Author: Oliver Hauser | Source: Harvard Business Review | Subjects: Innovation, Miscellaneous

Knowing how to develop and deliver a data-driven presentation is now a crucial skill for many professionals, since we often have to tell our colleagues a story about the success of a new initiative, the promise of a new business opportunity, or the imperative of a change in strategy — stories that are much more compelling when they’re backed by numbers.

In the past four years, … [ Read more ]

Content: Article | Author: Alexandra Samuel | Source: Harvard Business Review | Subjects: Personal Development, Productivity / Work Tips

In the past, new managers often had the luxury of cutting their teeth on traditional collocated teams: groups of people, sitting down the hall from one another, who met up in conference rooms to hash out what they were trying to achieve and how to get there. Unfortunately, today’s increasingly global work environment does not always afford that luxury. Many first-time managers find themselves assigned … [ Read more ]

Content: Article | Author: Mark Mortensen | Source: Harvard Business Review | Subjects: Management, Organizational Behavior

Say you are competing in a fast-growing industry. How much do you care about profits versus market share? It’s a common rule of thumb that businesses should go for market share in fast-growing in­dustries. It’s conventional wisdom, though, not a law of physics; you don’t have to go for share.

Content: Article | Author: Mark Chussil | Source: Harvard Business Review | Subject: Strategy

A strategic orientation must be balanced by ruthless operational efficiency; a sense of collectiveness must be balanced by the need for individuals to build their careers; a global perspective must be balanced by local relevance; enduring commitments must leave room for regeneration and renewal. Mastering all four of these tensions together will help your organization achieve and maintain high performance.

Content: Quotation | Authors: Douglas A. Ready, Linda A. Hill, Robert J. Thomas | Source: Harvard Business Review | Subjects: Management, Organizational Behavior

For better goal-setting, it will help to understand where financial targets typically come from. Often, they’re based on past performance. But a company’s recent track record says nothing about how much its performance could or should improve; what’s needed is a useful assessment of a company’s probability of future success. One way to think about the likelihood of hitting a given performance increase is to … [ Read more ]

Content: Article | Author: Michael E. Raynor | Source: Harvard Business Review | Subjects: Finance, Management

The idea that an enterprise should carefully construct a portfolio of innovation initiatives holds great appeal strategically, but in practice it has the downside of centralizing decision-making power, and therefore slowing down innovation.

Content: Quotation | Source: Harvard Business Review | Subject: Innovation

Traditionally, the discipline of strategy has emphasized a deep understanding of market economics and potential disruptors, the evolution of demand and value expectations, the competencies of the organization, and the role of talent and performance management. Long-dominant frameworks like the Five Forces or SWOT analysis have been based, accordingly, on a fundamental, often static or relatively long-duration, set of market and firm characteristics.

Today, though, many … [ Read more ]

Content: Quotation | Source: Harvard Business Review | Subject: Strategy

Boston Consulting Group has created a change management tool called the DICE assessment, which they have been refining since they first wrote about it in HBR a decade ago, and a version of which is now available for online use.

With the aid of the DICE tool, companies can assess the probability of success of change initiatives early in their lives. By evaluating projects with a … [ Read more ]

Content: Article | Author: Perry Keenan | Source: Harvard Business Review | Subject: Change Management

It isn’t enough just to hire the best. If you want to boost the productivity of your organization’s human capital, you also have to deploy those high performers effectively — put them to work so they can deliver the results they’re capable of. One of the most effective methods of deployment I’ve seen is to create all-star teams. Teams like these are a kind of … [ Read more ]

Content: Article | Author: Michael C. Mankins | Source: Harvard Business Review | Subjects: Human Resources, Organizational Behavior

This concise, handy guide is packed with quick tips on a broad range of topics, organized into three major skills every manager must master:

– Managing yourself
– Managing your team
– Managing your business

Drawing from HBR’s popular Management Tip of the Day, the book puts the best management practices and insights, from top thinkers in the field, right at your fingertips. Pick it up any time you … [ Read more ]

Content: Book | Source: Harvard Business Review | Subject: Management

If you are in charge of an organization, force yourself to have regular and long stretches of uninterrupted time just to think things through. When you do so – and you should – here are five guiding questions that could help you reflect on the big picture.

Content: Article | Author: Freek Vermeulen | Source: Harvard Business Review | Subject: Strategy

Setting the right price for your product or service is hard. In fact, determining price is one of the toughest things a marketer has to do, in large part because it has such a big impact on the company’s bottom line. One of the critical elements of pricing is understanding what economists call price elasticity. To better understand this concept and how it impacts marketing, … [ Read more ]

Content: Article | Authors: Amy Gallo, Jill Avery | Source: Harvard Business Review | Subject: Pricing

Many businesses are reaping rewards from big data analytics. But there are also some areas of disappointment. Experts caution that big data, like any other, is only as good as the questions being asked – and that some algorithms can make unhelpful assumptions.

Content: Article | Author: Daniel Goleman | Source: Harvard Business Review | Subject: Human Resources

Leaders hoping to boost their ability to drive growth through innovation need to simultaneously direct it strategically, pursue it rigorously, resource it intensively, monitor it methodically, and nurture it carefully. This is clearly not easy stuff. Many of the most common missteps we see companies make would fit nicely in Steve Kerr’s management classic, “The folly of rewarding A, while hoping for B.” Here are … [ Read more ]

Content: Article | Author: Scott Anthony | Source: Harvard Business Review | Subject: Innovation

When setting priorities it is helpful to distinguish between absolute and relative performance. Absolute performance sets the minimum requirements — are you in the red or black, are you growing or contracting? Relative performance, expressed in percentile rankings, tells you where you have the most room for improvement and sets an upper bound on what is reasonable for you, given how well you’re already performing … [ Read more ]

Content: Article | Author: Michael E. Raynor | Source: Harvard Business Review | Subject: Management

We need statistical thinking for a world where we can calculate the risk, but in a world of uncertainty, we need more. We need rules of thumb called heuristics, and good intuitions. That distinction is not made in most of economics and most of the other cognitive sciences, and people believe that they can model or reduce all uncertainty to risk.

Content: Quotation | Author: Gerd Gigerenzer | Source: Harvard Business Review | Subject: Risk Management

Just imagine, a few centuries ago, who would have thought that everyone will be able to read and write? Now, today, we need risk literacy. I believe if we teach young people, children, the mathematics of uncertainty, statistical thinking, instead of only the mathematics of certainty – trigonometry, geometry, all beautiful things that most of us never need – then we can have a new … [ Read more ]

Content: Quotation | Author: Gerd Gigerenzer | Source: Harvard Business Review | Subjects: Decision Making, Risk Management

I’m sour on the word empowerment and I’m sour on empowerment programs. To me, saying we need an empowerment program is like saying we need a swimming program. The implication is that swimming isn’t a natural occurring behavior for our people. So, what we are saying when we say we need an empowerment program is that the fundamental way we run our organization is dis-empowering, … [ Read more ]

Content: Article | Author: David Marquet | Source: Harvard Business Review | Subjects: Management, Organizational Behavior