Wednesday, November 17, 2021

g-f(2)663 THE BIG PICTURE OF THE DIGITAL AGE (11/17/2021), MIT SMR, Adopt Open Strategy to Fuel Innovation

ULTRA-condensed knowledge

"g-f" fishing of golden knowledge (GK) of the fabulous treasure of the digital ageDigital Transformation, Open Strategy (11/17/2021)  g-f(2)426 


Adopt Open Strategy to Fuel Innovation  

  • Involving more stakeholders to set your organization’s innovation strategy can deliver positive returns.
  • Confining strategic discussions to the C-suite can limit perspectives and hamper agility. Increasingly, companies that open up strategic initiatives to a diverse group of stakeholders — even competitors — are finding better ways to stay ahead of disruption.
  • In this on-demand webinar, Kurt Matzler and Julia Hautz, coauthors of Open Strategy (MIT Press), lay out a blueprint for success with an open strategy process. They’ll define what open really means, give examples, and offer ways to discern how open strategy will work for your organization.

Genioux knowledge fact condensed as an image

Adopt Open Strategy to Fuel Innovation



Kurt Matzler is professor of strategic management at the University of Innsbruck, academic director of the Executive MBA program at MCI in Innsbruck, and a partner at the international management consulting firm IMP. Julia Hautz is professor of strategic management at the University of Innsbruck. Allison Ryder is senior project editor of MIT Sloan Management Review. She moderated the session.

Extra-condensed knowledge

Learned lessons, MIT SMR 

  • In this webinar, you’ll learn:
    • Why traditional strategy-making fails.
    • How open strategy helps organizations develop disruptive business models.
    • How other companies have approached open strategy, and the results of their initiatives.
    • How to assess which approach is appropriate for your organization.

Condensed knowledge

Lessons learned, MIT SMR

  • What do we mean with open strategy?
    • It really means actively involving a much larger number and variety of actors outside the top management team in strategy deliberations.
    • And this can be front-line employees, this could be experts, consumers, startups, suppliers, even competitors.
    • So rather than limiting your strategy conversations through the small top management teams, which are homogeneous they might have experience, but a very similar in background, you can invite many others who viewed the world really in a different way.
    • And as we have seen Barclays, these outside perspectives do not necessarily have to come outside of the organization. You can make use of the very diverse pool of knowledge within your company.
    • And we have talked with the founder of a strategy community at Ericsson, and he really got excited about this. Because he said, you find knowledge within your company. It's just magic. You find it in places you would never imagine that it's there.
    • But of course you can also go beyond organizational boundaries and invite people from outside your organization, even from outside your industry.

Some relevant characteristics of this "genioux fact"

  • Category 2: The Big Picture of the Digital Age
  • [genioux fact deduced or extracted from MIT SMR]
  • This is a “genioux fact fast solution.”
  • Tag Opportunities those travelling at high speed on GKPath
  • Type of essential knowledge of this “genioux fact”: Essential Analyzed Knowledge (EAK).
  • Type of validity of the "genioux fact". 

    • Inherited from sources + Supported by the knowledge of one or more experts.


“genioux facts”: The online programme on MASTERING “THE BIG PICTURE OF THE DIGITAL AGE”, g-f(2)663, Fernando Machuca, November 17, 2021, Corporation.


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