What happens when everyone in your organisation knows the strategy, but everyone explains it differently? That is often a sign that the business has a clarity problem. Organisations spend considerable time developing strategies, defining goals and communicating priorities. Yet strategy alone does not create shared understanding. People need to understand what the organisation stands for,…
In the modern enterprise, data is often described as the “new oil.” But oil in its raw state is messy, difficult to handle, and largely unusable. To derive value, it must be refined. In the world of analytics, that refinement process isn’t just about cleaning datasets or tuning hyperparameters—it is about Data Storytelling. While many…
Authority without responsibility is illegitimate; but so is ressponsibility without authority. “Public: responsibility was to Alfred Sloan worse than unprofessional; it was irresponsible, a usurpation of power. “We have a responsibility toward higher education,” a cheif executive of a major Americal corporation once said at a meeting both Sloan and I attended. “Do we in…
Good intentions are not always socially responsible. A business that does not show a profit at least equal to its cost of capital is irresponsible; it wastes society’s resources. Economic profit performance is the base without which business cannot discharge any other responsibilities; cannot be a good employer, a good citizen, a good neighbor. But…
Profit is the ultimate test of business performance. Profit serves three purposes. One it measures the net effectiveness and soundness of a business’s efforts. Another is the “risk premium” that covers the costs of staying in business – replacement, obsolescence, market risk, and uncertainty. Seen from this point of view, there is no such thing…
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