When to Pass on a Great Business Opportunity

When to Pass on a Great Business Opportunity

    One of your better managers comes to you with the idea of setting up an internet bank. Some experts will say that you should invest in a portfolio of new ventures as part of what McKinsey calls the third horizon. Using this logic, both Prudential and Mannesmann should have a go. Other experts […]

How You Know You Have a Winning Business Idea

How You Know You Have a Winning Business Idea

      Do you have an idea for a new business? While you may find it easy to generate many new business ideas, it isn’t as easy to identify which ones are truly stellar. How do you know when you’ve come up with a fabulous business idea? We asked successful business owners what key […]

Generating Data on What Customers Really Want

Generating Data on What Customers Really Want

    At a fundamental level, the decisions managers make about revenue and profits fall into two categories—those related to growth and those related to cost reduction. Both types are meant to increase margins. But how data are used in each decision-making process is completely different. Cost reduction data are precise. Firms know their cost […]

3 Myths That Kill Strategic Planning

3 Myths That Kill Strategic Planning

    In its simplest form, strategic thinking is about deciding on which opportunities to focus your time, people, and money, and which opportunities to starve.  One of history’s greatest strategic thinkers, Napoleon Bonaparte summed it up this way: “In order to concentrate superior strength in one place, economy of force must be exercised in […]