Thursday, September 30, 2021

g-f(2)529 THE BIG PICTURE OF THE DIGITAL AGE (9/30/2021), MIT SMR, Has COVID-19 Permanently Changed Business Strategy? What Experts Say


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"g-f" fishing of golden knowledge (GK) of the fabulous treasure of the digital age, Digital Transformation, Strategy (9/30/2021)  g-f(2)426 


Opportunity, MIT SMR


Whether the pandemic has fundamentally shifted the practice of strategy, all companies and leaders must be thinking proactively about how to sense and respond to future disruption and answer to the pressing societal challenges the crisis has highlighted.
    • For those who agree that COVID has permanently reshaped strategy, two leading drivers emerge as themes: flexible work and supply chain resilience. 
      • As Melissa Schilling, professor at NYU Stern writes, “The response to the pandemic has shown us that we can (and should) be more flexible in thinking about how, where, and when we work together.” Likewise, Erik Brynjolfsson of Stanford University notes that many of the major changes in work arrangements are likely to have lasting effects, including “the use of digital technologies, the geography of work, and the nature of interactions.”


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            References


            Has COVID-19 Permanently Changed Business Strategy? What Experts Say, MIT SMR Strategy Forum, September 30, 2021, MIT Sloan Management Review, MIT SMR.



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            ALERT, Strongly Agree

            Erik Brynjolfsson, Stanford University 


            • “Work-from-home in the U.S. went from 16% before COVID-19 to over 50% at the peak of the pandemic, spurring big changes in the use of digital technologies, the geography of work, and the nature of interactions. After the pandemic, some of these changes will persist.”



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            Alert, Disagree, MIT SMR 



            • Those who disagree that COVID-19 has permanently changed business strategy (making up 31% of responses) point to the fact that despite disruptions and some permanent changes for workers and businesses, the fundamentals of strategy remain consistent for organizations. As Bruno Cassiman, professor at IESE Business School, puts it: “The principle of creating value and developing a competitive advantage to capture part of this value has not changed.” Lori Rosenkopf of Wharton agrees, noting that while the content of strategy has likely changed, “it’s the role of a great strategist to be anticipating a wide variety of outcomes and building contingency plans.”


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            • Category 2: The Big Picture of the Digital Age
            • [genioux fact deduced or extracted from geniouxfacts]
            • This is a “genioux fact fast solution.”
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            • Type of essential knowledge of this “genioux fact”: Essential Analyzed Knowledge (EAK).
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              • Inherited from sources + Supported by the knowledge of one or more experts.


            References


            “genioux facts”: The online programme on MASTERING “THE BIG PICTURE OF THE DIGITAL AGE”, g-f(2)529, Fernando Machuca, September 30, 2021, blog.geniouxfacts.com, geniouxfacts.com, Genioux.com Corporation.


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