The answer—as given by a panel sponsored by the MIT Innovation Initiative at the MIT Sloan School of Management and the Martin Trust Center for MIT Entrepreneurship—is “yes.” But the panel articulated there’s much more to crowdfunding—it is also democratizing investment opportunities for investors of all kinds. Continue reading
As work environments become more complex, scientists continue to search for ways to improve how technology can enhance the performance of individuals and help groups work together most effectively.
According to an interview on the Smart Planet Blog with MIT Sloan Professor Thomas Malone, the crux of the matter is what he refers to as “collective intelligence”—how people and computers connect so that collectively they act more intelligently than any person, group, or computer separately. Continue reading
Why is it that some organizations can successfully diversify, while others cannot? Some businesses can increase their complexity by expanding into new markets, creating new products or services for new audiences and succeed, while others seek to do so, and fail.
Ezra Zuckerman, Professor of Technological Innovation, Entrepreneurship, and Strategic Management at MIT Sloan, claims that there are identity-based limits to diversification that have more to do with a client’s perception of the organization than the actual integrity of the services delivered by the organization. In other words, an organization can have superior talent, the best operations, and a delivery of new services or products that is top notch, but if somehow this new direction clashes with a client’s perception of the firm, they may lose the client. These factors should be closely examined prior to a company’s diversification. Continue reading
Guest post by Grayson Brulte, Co-Founder & President of Brulte & Company
Politics is a pursuit inherently built on customer service but without enough attention paid to those who matter the most: voters. In politics, voters are the customers, and instead of asking for a refund or an exchange, they can vote the politician out of office.
So why isn’t voter relations one of the top priorities of a campaign? Campaigns should hire a Chief Voter Relations Officer to manage voter relations and develop an organization that is always striving for perfection. In that way, the organization would be actively embracing customer service as an asset, not a chore.
Contributed by MIT Sloan Executive Certificate holder and guest blogger Juan Ignacio Genovese
Strategy can be defined as thinking about and establishing new ways to reach company goals, and although many examples exist, few models of winning business strategy provide the diversity of tools necessary for actualizing that strategy.
Most readers are aware of the important influence of Michael Porter, author of Competitive Strategy: Techniques for Analyzing Industries and Competitors. However, his model does not necessarily make us take action; rather, it determines what we should be aware of to protect and increment our market share. Another example is The Balanced Scorecard: Translating Strategy Into Action, written by Robert Kaplan and David Norton. However, this book is not a tool for modeling strategy but for measuring the strategic impact of our actions. Although there are many other books about the subject, most do not successfully present a complete strategic model.
While searching for a powerful strategic model to use in my position as a marketing consultant, I discovered MIT Sloan Professor Arnoldo Hax’s The Delta Model: Reinventing Your Business Strategy. The strength of this model is that it puts the customer at the center of the strategy, with the goal of achieving customer bonding. The model is based on application of the eight competencies of the firm—specific strategies developed by Professor Hax that help us accomplish our final goal of customer bonding. Each of these strategies will work for a particular market segment.