Latest Tomorrow's Challenges

July 2017

By Seán Meehan with Karine Avagyan, Charlie Dawson.

Customers matter. No one would argue with that. But so do finance, people, operations, innovation and lots more. What impact do all these competing priorities have on a company’s ability to remain tru...

Read more

June 2017

By Michael D. Watkins

Every year, thousands of managers enter new leadership positions. Their actions during the first few months on the job can determine their success or failure, yet little first-rate advice is available...

Read more
June 2017

By Jennifer Jordan with Tim Vriend, Onne Janssen.

Martin Winterkorn, the former CEO of Volkswagen, was leading his company on a course to surpass Toyota as the largest car maker in the world. And he succeeded. In July 2015, he achieved this pinnacle...

Read more

June 2017

By Francisco Szekely

Why does a company exist?  If you’d asked executives this in the 1970s, the most common answer would have been ‘to make money’. Consumers, employees and the natural environment didn’t really figure in...

Read more
June 2017

By Ralf W. Seifert with Richard Markoff.

The omni-channel supply chain is in our headlines and on our lips. Retailers are experimenting with different ways to meet growing consumer expectation to interact with products in different ways. The...

Read more

June 2017

By Carlos Cordon with Michael Leck.

In September 2013, shipping giant Maersk Line was facing an unprecedented organizational challenge. The company was about to enter into an alliance, dubbed the P3 network, with two other container...

Read more
June 2017

By Knut Haanaes, Michael Sorell

The US film industry has been immensely successful and has overshadowed its rivals around the world, but are we starting to see signs of its decline? Is it a victim of the success trap? 2017 has been ...

Read more

June 2017

By Michael D. Watkins

In “ Onboarding Isn’t Enough,” a recent Harvard Business Review article co-authored with Mark Byford and Lena Triantogiannis from Egon Zehnder, we showed that many companies think they are doing a goo...

Read more
June 2017

By Michael D. Watkins

In “ Onboarding Isn’t Enough,” a recent Harvard Business Review article I co-authored with Mark Byford and Lena Triantogiannis from Egon Zehnder, we showed that many companies think they are doing a...

Read more

May 2017

By Marco Mancesti

Leaders cannot orchestrate in a vacuum. In fact, they depend on others in at least three important ways:  1]     Leaders guide, they do not execute. Therefore, they rely on others to take care of...

Read more

Latest insights@IMD

June 2017

By Knut Haanaes, Howard H. Yu, Jennifer Jordan, Karine Avagyan with Lindsay McTeague.
Contributors: Martin Reeves, José Lopez.

Over 50 executives attended a recent IMD Discovery Event on approaches to strategy. Participants gained insights into how long-lasting companies thrive and renew themselves, often by balancing...

Read more

May 2017

By Tawfik Jelassi, Karine Avagyan with Michelle Perrinjaquet.
Contributors: Lars Häggström, Feena May.

Forty-five participants from 32 companies recently attended an IMD Discovery Event to find out what characterizes a high-turbulence environment, how to lead and drive change in the face of adversity,...

Read more
May 2017

By Michael R. Wade, Andrew Tarling, Remy El Assir
Contributor: Rainer Neubauer.

Over 90 executives attended a recent IMD Discovery Event to learn about the leadership knowledge, skills and behaviors required to succeed in a digitally disruptive environment. New research from the...

Read more

March 2017

By Howard H. Yu, Knut Haanaes, Jayanth Narayanan, Ivy Buche with Lindsay McTeague.

Around 70 executives recently took part in a highly participative IMD Discovery Event to understand the concept of open innovation that is currently democratizing invention and product development, by...

Read more
March 2017

By Martha L. Maznevski, Charles Dhanaraj, Anouk Lavoie Orlick with Lindsay McTeague.
Contributors: Phillipe Jost, Sebastian Pons Miquel, Ebru Katip.

Almost 100 executives attended a recent Discovery Event to find out how global organizations can create successful collaboration patterns and networks. Professors Martha Maznevski and Charles Dhanaraj...

Read more

March 2017

By Anand Narasimhan, Stéphane J. G. Girod, Knut Haanaes, Nancy Lane with Susan Stehli.

Participants from around the world gathered at an IMD Discovery Event in September 2016 to learn how companies can bridge the capability gaps that prevent them from benefitting fully from an...

Read more
December 2016

By Stefan Michel, Michael Sorell with Michelle Perrinjaquet.

In April 2016, around 60 executives attended an IMD Discovery Event to discuss pricing excellence from different perspectives and to explore recent case studies from both B2B and B2C markets.         ...

Read more

December 2016

By Carlos A. Primo Braga, James E. Henderson, Howard H. Yu, William A. Fischer, Karine Avagyan with Susan Stehli.

In 2014 the International Committee of the Red Cross (ICRC) launched the Global Partnerships for Humanitarian Impact and Innovation (GPHI2) to promote the development of innovative solutions to...

Read more
October 2016

By Michael R. Wade, Jialu Shan, Andrew Tarling
Contributors: Jeff Loucks, James Macaulay, Andy Noronha, Joel Barbier.

In  May  2016,  around 80 executives from 42 global organizations attended an IMD Discovery  Event hosted by the Global Center for Digital Business Transformation.  The aim of the event was to explore...

Read more

September 2016

By Michael R. Wade, Jialu Shan with Lindsay McTeague.
Contributors: Jeff Loucks, James Macaulay, Andy Noronha.

  In February 2016, around 70 executives attended an IMD Discovery Event hosted by the Global Center for Digital Business Transformation. The purpose was to shed light on strategic responses to digita...

Read more

Latest IMD Professor Reacts

June 2017

By Ralf W. Seifert with Richard Markoff.

Right after we published an article on Amazon and its grocery business, Amazon announced the acquisition of the American grocery chain Whole Foods for nearly 14 billion USD. The impact of this move on...

Read more

June 2017

By Francisco Szekely

The US President announced on June 1st that his country will leave the Paris Accord and leave behind an international effort of diplomacy that took 20 years to develop, and...

Read more
May 2017

By Arturo Bris

Switzerland is heavily integrated into international markets and therefore some of the biggest risks looming on the financial horizon have potential to affect the country. IMD Professor Arturo Bris...

Read more

May 2017

By Arturo Bris

After Brexit and other recent anti-Europe sentiment rearing its head in national elections around Europe, is there reason to be optimistic about the Union? IMD Professor Arturo Bris answers looks at t...

Read more
May 2017

By Jayanth Narayanan

Organ donation rates in some countries are much higher than in others. Neighboring countries with similar cultures can have dramatically different levels of organ donation. For example, organ donation...

Read more

May 2017

By Jayanth Narayanan

The recent scandal involving Ravindra Gaikwad, the Indian Member of Parliament who made headlines after an alleged assault on an Air India Employee for being asked to take an economy instead of a...

Read more
April 2017

By Francisco Szekely

Tesla recently reached a market value of USD $ 50.84 billion, briefly surpassing General Motors – which has a USD $ 50.79 billion market value – and thus becoming the most valuable car company in the...

Read more

April 2017

By Stefan Michel

Swiss companies, such as the soft cheese manufacturer Baer and Swiss Life, have announced that they will stop placing any advertising on Google because their ads have appeared alongside YouTube videos...

Read more
March 2017

By Michael D. Watkins

When the going gets tough, do the not-so-tough get going? Such may be the case with Jeff Jones who, after just 6 months as President, has departed Uber. The reason, according to sources cited by Recod...

Read more

March 2017

By Jean-Pierre Lehmann

And now, it’s Renault! The French anti-fraud agency (DGCCRF) has accused the carmaker of having cheated on its emissions test data for the last twenty-five years. This brings Renault in line with...

Read more

Latest In the Field

June 2017

By Howard H. Yu, Thomas W. Malnight, Ivy Buche

At a glance Recruit successfully transformed its business model from one based on traditional print media to one based entirely online. It went on to launch several new digital platforms that connecte...

Read more

April 2017

By Shlomo Ben-Hur, Ivy Buche

At  a glance HKBN wants to challenge the largest incumbent in Hong Kong’s highly competitive telecom industry. Snatching market share from the much larger entrenched incumbent is a formidable challeng...

Read more
December 2016

By Robert Hooijberg, Nancy Lane

At a glance Two Dutch dairy cooperatives, each with their own operating companies, faced an increasingly competitive and uncertain European market and so they decided to merge. A new CEO was appointed...

Read more

June 2016

By Charles Dhanaraj, Ivy Buche

At a glance • Multinational companies (MNCs) need to innovate in emerging markets to capture unique opportunities. • Trying to innovate without a supportive, local ecosystem is a formidable task. •...

Read more
November 2015

By Wolfgang Ulaga, Athanasios Kondis

At a glance • A diversified industrial manufacturer embarked on an ambitious marketing excellence initiative, driven by the HQ-based CMO. • The company’s technology-focused heritage and a culture of...

Read more

November 2015

By Wolfgang Ulaga, Athanasios Kondis

At a glance • The growth focus in emerging markets is shifting from big mega cities to semi-urban and rural areas. • Serving low-resource business customers in these settings is a formidable task. • G...

Read more

Latest Books

June 2017

By Francisco Szekely with Zahir Dossa.

Many recent books make the case for businesses to become more sustainable, but few explain the specifics. In this book, Francisco Szekely and Zahir Dossa offer a pragmatic new business model for...

Read more

October 2016

By Joachim Schwass with Anne-Catrin Glemser.

Wise Family Business aims to help families in business to identify new and better ways of achieving longevity, sustainability and performance. The book presents ground-breaking new insights and...

Read more
July 2016

The IMD World Competitiveness Yearbook is the leading annual report on the competitiveness of nations and has been published by IMD since 1989. It benchmarks the performance of 62 countries based on...

Read more

June 2016

By Bettina Büchel

The goal of this fieldbook is to provide you with support in executing and ensuring change around the initiative that you or your team is in charge of. Over the last couple of years of our work with...

Read more
June 2016

By Michael R. Wade with Jeff Loucks, James Macaulay, Andy Noronha.

"Digital disruption" sounds like another business buzzword - until it happens to your company. Seemingly out of nowhere, startups and other tech-savvy disruptors attack. Your customers bolt for the do...

Read more

June 2016

By Carlos Cordon with Pau Garcia-Milà, Teresa Ferreiro, Pablo Caballero.

This book presents strategies and practices to allow everyday companies to cope with the fundamentally changing landscape of business models and to take advantage of the huge business opportunities...

Read more
June 2016

By Didier Cossin with Ong Boon Hwee.

Inspiring Stewardship helps leaders drive sustainable development and growth by balancing short- and long-term objectives amidst competing interests. By examining a range of exceptional individual and...

Read more

April 2016

By Stéphane Garelli

Competitiveness, like social networks, sustainable development or climate change, is a topic that has captured the world. Politicians, businessmen and media constantly refer to it. What does it mean?...

Read more
January 2016

By Georges Haour with Max Von Zedtwitz.

Undisputedly, China has become the world's manufacturing powerhouse, accounting for around half of all personal computers, digital cameras and kitchen appliances. However, the country is fast...

Read more

December 2015

The book New Realities: Business Dynamics at the Frontiers of Globalization presents a series of assessments of where the global economy may be headed. It builds upon business cases from companies in...

Read more

Latest Case Studies

IMD-7-1836

DBS TRANSFORMATION (A): BECOMING A WORLD-CLASS MULTINATIONAL BANK

By Meehan, Seán; Abraham, Pallivathukkal Cherian

Topics Digital Transformation; Customer Centricity; Innovation; Agility; Culture Change; Organizational Change; Change Management; Financial Services; Banking; Financial Technology
Copyright ©2017
Related Material Video
Length 14 pages

This case series examines the two stage transformation of DBS 2009- 2017. In both stages the bank places the customer as the centre of its thinking about how to structure, resource and play in the mar...

Read more

IMD-7-1837

DBS TRANSFORMATION (B): GOING DIGITAL AND CREATING A 22,000 PERSON START-UP

By Meehan, Seán; Abraham, Pallivathukkal Cherian

Topics Digital Transformation; Customer Centricity; Innovation; Agility; Culture Change; Organizational Change; Change Management; Financial Services; Banking; Financial Technology
Copyright ©2017
Related Material Video
Length 12 pages

This case series examines the two stage transformation of DBS 2009- 2017. In both stages the bank places the customer as the centre of its thinking about how to structure, resource and play in the mar...

Read more

IMD-7-1913

DBS TRANSFORMATION (C): THE WORLD’S BEST DIGITAL BANK

By Meehan, Seán; Abraham, Pallivathukkal Cherian

Topics Digital Transformation; Customer Centricity; Innovation; Agility; Culture Change; Organizational Change; Change Management; Financial Services; Banking; Financial Technology
Copyright ©2017
Related Material Video
Length 4 pages

This case series examines the two stage transformation of DBS 2009- 2017. In both stages the bank places the customer as the centre of its thinking about how to structure, resource and play in the mar...

Read more

IMD-7-1919

HOLLYWOOD: FAST AND FURIOUS(LY) IN SEQUEL MODE? (MINI CASE)

By Haanaes, Knut; Sorell, Michael

Topics Exploration vs. Exploitation
Copyright ©2017
Length 1 pages

Hollywood is rapidly churning out film sequels – often with great success, as more and more films surpass the magic barrier of $1 billion in worldwide box office receipts. But is this exploitation str...

Read more

IMD-7-1920

RETHINKING THE SMARTPHONE SUPPLY CHAIN: OPPO/VIVO’S BIG BET

By Seifert, Ralf W.; Zheng, Jian; Chen, Bryant; Yuan, Zhe

Topics Operations; Supply Chain; Go-to-market Strategy; Mobile Phone
Copyright ©2017
Length 10 pages

In this industry note, we explore recent changes in the smartphone market in China, which accounted for roughly one-third of worldwide mobile sales in 2016. International smartphone brands such as App...

Read more

IMD-7-1771

ROTOPLAS: THE INITIAL PUBLIC OFFERING

By Fernandes, Nuno; Kubo, Kenichiro; Baena, Sandra

Topics Finance; Strategy; Equity; Initial Public Offering
Copyright ©2017
Length 8 pages

The limited availability and access to water in Latin America together with the public policy makers’ focus on delivering quality water to more citizens were expected to translate into a continuing an...

Read more

IMD-7-1845

HILTI: CHALLENGING ITS PROCESSES TO BECOME AN AGILE CORPORATION

By Cordon, Carlos; Ferreiro, Teresa

Topics Agility; Lean Management; Start-up Company; Multinational Company; Scrum; Process
Copyright ©2017
Length 16 pages

Hilti’s executive board wanted to expand Hilti’s offer from mainly physical products and just a few free services to a full portfolio of both products and services. The objective was to increase custo...

Read more

IMD-7-1908

TRANSAVIA (A): BUILDING A DIGITAL AIRLINE ECOSYSTEM

By Cordon, Carlos; Wellian, Edwin

Topics Digital Economy; Customer Experience; Operational Excellence; Customer Relationship Management; Digital Business Agility; Revenue Management; Application Development; Agility; Structure; Organizational Change; Board; Decision; Information Technology Infrastructure; Lean Management; Big Data; Low Cost Airline
Copyright ©2017
Related Material Video
Length 11 pages

This two-part case series follows the dilemmas that Mattijs ten Brink, CEO of Transavia, is facing at deciding which path he should lead his team, to keep their journey as an independent airline compa...

Read more

IMD-7-1909

TRANSAVIA (B): LOOKING FOR THE NEXT DESTINATION

By Cordon, Carlos; Wellian, Edwin

Topics Digital Economy; Customer Experience; Operational Excellence; Customer Relationship Management; Digital Business Agility; Revenue Management; Application Development; Agility; Structure; Organizational Change; Board; Decision; Information Technology Infrastructure; Lean Management
Copyright ©2017
Related Material Video
Length 6 pages

This two-part case series follows the dilemmas that Mattijs ten Brink, CEO of Transavia, is facing at deciding which path he should lead his team, to keep their journey as an independent airline compa...

Read more

IMD-7-1822

MAERSK LINE: BECOMING THE TOYOTA OF SHIPPING (A)

By Cordon, Carlos; Leck, Michael

Topics Operations; Leadership; Lean Thinking; Excellence; Operating System; Global Standardization; Behavior
Copyright ©2017
Length 21 pages

Maersk Line is the world’s largest container shipping company. The industry is fierce and margins low, forcing all to fight for market shares by having lowest cost in operations. In 2014, Maersk Line ...

Read more

Latest Perspectives for Managers

June 2017

By Denise H. Kenyon-Rouvinez

Dino Frescobaldi, a poet of the late 13th/early 14th century, played an important role in the development of Italian literature by salvaging the first seven cantos of Dante’s Divine Comedy when the mo...

Read more

May 2016

By Shlomo Ben-Hur, Nik Kinley

“I put a dollar in one of those change machines. Nothing changed.” George Carlin (American comedian) Though it is hardly ever listed in job descriptions, changing employees’ behavior is an important...

Read more
November 2015

By Balaji S. Chakravarthy, David Yau

Introduction The Boston Consulting Group (BCG) announces each year a list of 100 companies that it believes are global contenders to watch. Not surprisingly, nearly a third of these companies are from...

Read more

November 2014

By Howard H. Yu

To many observers, the growth of the mobile phone market in China is staggering. According to the research firm Canalys, during the first quarter of 2012 sales of smartphones in China saw a...

Read more
October 2014

By Daina Mazutis, Christopher Zintel

William McDonough and Michael Braungart, pioneers in green design, are credited with the following analogy, “If a car is heading south, slowing down does not cause it to head north. Sooner or later yo...

Read more

May 2014

By Michael R. Wade

Removing your organizational clutter Like a house at the end of a long winter, most enterprises are full of clutter. While domestic mess may include outgrown clothing, broken sports equipment, and...

Read more
April 2014

By Donald A. Marchand, Michael R. Wade

Digital business transformation (DBT) is happening on a scale and at a speed that managers find both threatening and promising. In a report entitled “The Internet of Everything,” CISCO Systems estimat...

Read more

June 2013

By Bettina Büchel, Michael R. Wade

  We  state that we are a global company with operations in multiple countries. So, from the outside, it looks like a true multinational; but the view from the inside is less clear: We have 4 e-mail...

Read more
May 2013

By Michael Yaziji

“If I hear the call to ‘innovate’ one more time...” “Innovate! Innovate! Innovate!” It’s become a numbing mantra. Your company strives to innovate and differentiate, but do you have a sneaking suspici...

Read more

May 2013

By Stefan Michel

Practitioners and researchers largely agree that value-based pricing leads to higher profits than cost-  or competition-based  pricing.[1] Yet,despitethe fundamental superiority of VBP, studies...

Read more

Latest Working Papers

January 2016

By Carlos Cordon, Teresa Ferreiro

Introduction: How can a company overcome a 90% drop in revenues? By using big data. But how? Where should it start? This is the situation that major Dutch healthcare company Mediq faced in 2012. It us...

Read more

January 2016

By Carlos Cordon, Teresa Ferreiro

Abstract: The value chain encompasses all the activities involved in delivering a product or service to customers. In the pharmaceutical industry, for example, that includes everything from raw...

Read more
May 2015

By Carlos Cordero, Jeanny Wildi

Executive Summary: This position paper is a collaborative effort between KPMG AG Wirtschaftsprüfungs-gesellschaft, Germany (KPMG) and IMD business school, Switzerland (IMD). The aim of the paper is to...

Read more

April 2015

By Charles Dhanaraj, Rishikesha Krishnan, Srivardhini Jha

Abstract: Our inductive study of nine European multinational enterprises (MNEs) and their R&D units in India uncovers a distinct trajectory of overseas R&D evolution, ubiquitous in emerging markets. I...

Read more
November 2014

By Carlos A. Primo Braga, Athanasios Kondis

Introduction1 It has become a cliché to say that the WTO is at a crossroads.2 After twelve years of negotiations on the so-called Doha Development...

Read more

November 2014

By Carlos A. Primo Braga

Introduction: The Doha Development Agenda (DDA) negotiations “commemorated” their twelfth anniversary in November 2013. Policymakers in industrialized nations seem to be both distracted (by  the ...

Read more
October 2014

By Jean-Pierre Lehmann, Carlos A. Primo Braga

Introduction: It is impossible to tell how historians fifty years from now will judge this first decade-and-a-half of the 21st century. Three things, however, are reasonably certain. They will note it...

Read more

January 2014

By Francisco Szekely

Full text restricted  ( The author may grant permission for the text to be released in specific cases. If you are interested, contact  our Information Center   giving your name, company and reason for...

Read more
April 2013

By Benoit F. Leleux, , Jim Pulcrano

Abstract Innovation is essential to biomedical ventures, but finding the necessary financing can be difficult for small and/or early-stage firms. For this study, 73 Swiss biomedical companies provided...

Read more