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The six disciplines of strategic thinking by Michael D Watkins - IMD Business School
Book Strategy Leadership
The Six Disciplines of Strategic Thinking
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Article Family Business Digital
Implementing a digital strategy: Learning from the experience of three digital transformation projects
The rapid growth of digital technologies and the extraordinary amount of data that devices and applications collect each day are increasingly driving companies to radically transform the business architecture through which they create and appropriate value. However, companies may fail to extract value from digital transformation due to the disco…
The most-cited California Management Review article on the SAGE Journals site in 2023
By Alessia Correani Alfredo De Massis Federico Frattini Antonio Messeni Petruzzelli and Angelo Natalicchio
in California Management Review 2020, vol. 62, no. 4, pp. 37-56, 10.1177/0008125620934864
Implementing a digital strategy: Learning from the experience of three digital transformation projects
By Alessia Correani Alfredo De Massis Federico Frattini Antonio Messeni Petruzzelli and Angelo Natalicchio
in California Management Review 2020, vol. 62, no. 4, pp. 37-56, 10.1177/0008125620934864
Summary
The rapid growth of digital technologies and the extraordinary amount of data that devices and applications collect each day are increasingly driving companies to radically transform the business architecture through which they create and appropriate value. However, companies may fail to extract value from digital transformation due to the disco…
The most-cited California Management Review article on the SAGE Journals site in 2023
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Article Family Business Performance Management Resilience
The COVID-19 pandemic and family business performance
This study examines the impact of the COVID-19 pandemic on corporate financial performance using a unique, cross-country, and longitudinal sample of 3350 listed firms worldwide. We find that the financial performance of family firms has been significantly higher than that of nonfamily firms during the COVID-19 pandemic, accounting for pre-pandem…
Listed among the top 10 most downloaded papers for 2023 in Small business economics: An entrepreneurship journal
By Ivan Miroshnychenko Giorgio Vocalelli Alfredo De Massis Stefano Grassi and Francesco Ravazzolo
in Small Business Economics 10 April 2023, ePub before print, https://doi.org/10.1007/s11187-023-00766-2
The COVID-19 pandemic and family business performance
The COVID-19 pandemic and family business performance
By Ivan Miroshnychenko Giorgio Vocalelli Alfredo De Massis Stefano Grassi and Francesco Ravazzolo
in Small Business Economics 10 April 2023, ePub before print, https://doi.org/10.1007/s11187-023-00766-2
Summary
This study examines the impact of the COVID-19 pandemic on corporate financial performance using a unique, cross-country, and longitudinal sample of 3350 listed firms worldwide. We find that the financial performance of family firms has been significantly higher than that of nonfamily firms during the COVID-19 pandemic, accounting for pre-pandem…
Listed among the top 10 most downloaded papers for 2023 in Small business economics: An entrepreneurship journal
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Case Study Entrepreneurship Disruption Strategy Sustainability
SIBIUS: Battling cognitive disorders
Sept 2022. Corinne Avelines, SIBIUS’s CEO, had received the news that the results of the first large-scale test of the company’s first product had just been published. The test, conducted with children between 3 and 4 years old, validated their approach to early detection of autism. The technology was grounded in research showing that it was pos…
2024 John Molson MBA International Case Writing Competition – 3rd Prize
By Benoit F. Leleux Giorgia Riba Renee Pazdan Manu K. Mathew and Arvind Hurboseea
Case reference: IMD-7-2447 ©2023
SIBIUS: Battling cognitive disorders
Case Study Entrepreneurship Strategy Leadership
Valeur Absolue: Values-based entrepreneurship
The case discusses the development of Valeur Absolue – the niche luxury perfume company – from its inception in 2012 through to 2022 and the leadership journey of its founder Bénédicte Foucart. In pursuit of her purpose to empower women and increase the positive energy in their lives, Bénédicte believed that she would be able to address women’s …
2024 John Molson MBA International Case Writing Competition – 4th Prize
By Heather Cairns-Lee Benoit F. Leleux Anna Khrustaleva Connie Anyika Oksana Matyukha and Ramil Babayev
Case reference: IMD-7-2504 ©2023
Valeur Absolue: Values-based entrepreneurship
Case Study Strategy Business Transformation
AMAG: Creating its own future in a disrupted automotive industry
AMAG is Switzerland’s premier automotive retail and service company, holding exclusive rights to import Volkswagen Group car brands such as Audi, Volkswagen, Skoda, Cupra and Seat. In 2022 AMAG had 7,300 employees and a revenue of CHF 4.4 billion. The electrification of the automotive industry and the introduction of the agency model by the Volk…
2024 John Molson MBA International Case Writing Competition – 2nd Prize
By Stefan Michel Daniel Gerber Vikas Munjal David Rivière Stephan Thalmann and Esther Lind
Case reference: IMD-7-2498 ©2023
AMAG: Creating its own future in a disrupted automotive industry
Case Study Sustainability Family Business
Grundfos (B): “Solved in a better way”
Without much family discussion, PDJ put majority ownership of Grundfos into the Poul Due Jensen Foundation in 1975. His family would receive a 15% stake in the company. This ownership stake was important, since by Danish law, the company could be sold if family ownership fell below 10%. The 8-member foundation board would oversee the company’s l…
Selected for the 2024 Schlesinger Global Family Enterprise Case Competition
By Peter Vogel and Colleen Lief
Case reference: IMD-7-2375 ©2023
Grundfos (B): “Solved in a better way”
Academic publications
Article Sustainability Family Business
Are family firms green?
This study examines environmental management practices of 1690 family and nonfamily firms from 29 countries and 19 industrial sectors over an 8-year period. We show that the family effect on firm environmental management practices ranges substantially, from extremely negative to no effect at all. Moreover, the magnitude of the effect depends on …
By Ivan Miroshnychenko Danny Miller Alfredo De Massis and Isabelle Le Breton-Miller
in Small Business Economics 14 March 2024, ePub before print, https://doi.org/10.1007/s11187-024-00907-1
Are family firms green?
By Ivan Miroshnychenko Danny Miller Alfredo De Massis and Isabelle Le Breton-Miller
in Small Business Economics 14 March 2024, ePub before print, https://doi.org/10.1007/s11187-024-00907-1
Summary
This study examines environmental management practices of 1690 family and nonfamily firms from 29 countries and 19 industrial sectors over an 8-year period. We show that the family effect on firm environmental management practices ranges substantially, from extremely negative to no effect at all. Moreover, the magnitude of the effect depends on …
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Article Entrepreneurship Performance Management
The goal and performance heterogeneity of academic spinoffs
We argue that the divergent motivations underlying their creation and goals can contribute to the varying performance of academic spinoffs. Through a quantitative study on a sample of 778 academic spinoffs established by 59 Italian state universities from 2006 to 2015, we show that academic spinoffs established (1) for extrinsic monetary motivat…
By Alice Civera Alfredo De Massis Michele Meoli and Silvio Vismara
in Technovation March 2024, vol. 131, 102972, https://doi.org/10.1016/j.technovation.2024.102972
The goal and performance heterogeneity of academic spinoffs
By Alice Civera Alfredo De Massis Michele Meoli and Silvio Vismara
in Technovation March 2024, vol. 131, 102972, https://doi.org/10.1016/j.technovation.2024.102972
Summary
We argue that the divergent motivations underlying their creation and goals can contribute to the varying performance of academic spinoffs. Through a quantitative study on a sample of 778 academic spinoffs established by 59 Italian state universities from 2006 to 2015, we show that academic spinoffs established (1) for extrinsic monetary motivat…
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Article General Management Leadership Strategy
When top managers’ temporal orientations collide: Middle managers and the strategic use of the past
Use-of-the-past research has advanced our understanding of how top managers instrumentalize past knowledge, events, and rhetorical constructions to advance their present-day interests. However, it is unclear how they use the past when they have divergent understandings of the past and different visions of the future. Temporal tensions can lead t…
By Innan Sasaki Masahiro Kotosaka and Alfredo De Massis
in Organization Studies 20 February 2024, ePub before print, https://doi.org/10.1177/01708406241236604
When top managers’ temporal orientations collide: Middle managers and the strategic use of the past
By Innan Sasaki Masahiro Kotosaka and Alfredo De Massis
in Organization Studies 20 February 2024, ePub before print, https://doi.org/10.1177/01708406241236604
Summary
Use-of-the-past research has advanced our understanding of how top managers instrumentalize past knowledge, events, and rhetorical constructions to advance their present-day interests. However, it is unclear how they use the past when they have divergent understandings of the past and different visions of the future. Temporal tensions can lead t…
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Article Family Business Performance Management Strategy
Long-term orientation, family-intensive governance arrangements, and firm performance: An institutional economics perspective
In this study, we examine the effect of cultural long-term orientation on the likelihood of adopting more family-intensive governance arrangements (FGAs) and the impact on firm performance. FGAs may impose various costs on the firm, including the extraction of private benefits, conflicts with professional managers, paternalistic human resource m…
By Michele Pinelli Francesco Debellis and Alfredo De Massis
in Small Business Economics 17 February 2024, ePub before print, https://doi.org/10.1007/s11187-024-00877-4
Long-term orientation, family-intensive governance arrangements, and firm performance: An institutional economics perspective
By Michele Pinelli Francesco Debellis and Alfredo De Massis
in Small Business Economics 17 February 2024, ePub before print, https://doi.org/10.1007/s11187-024-00877-4
Summary
In this study, we examine the effect of cultural long-term orientation on the likelihood of adopting more family-intensive governance arrangements (FGAs) and the impact on firm performance. FGAs may impose various costs on the firm, including the extraction of private benefits, conflicts with professional managers, paternalistic human resource m…
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Article Family Business
See who I know! Addressing the liabilities of outsidership through status signaling
Status is an important intangible asset, yet when firms enter new countries, they lack standing in new social hierarchies as outsiders. Conventional wisdom suggests embeddedness in host-country networks can alleviate newcomers’ liability of outsidership. We complement this with insights from status signaling theory: Newcomers in host countries c…
By Michael Carney and Marleen Dieleman
in Journal of International Business Studies February 2024, vol. 55, pp. 377–395, https://doi.org/10.1057/s41267-023-00662-7
See who I know! Addressing the liabilities of outsidership through status signaling
By Michael Carney and Marleen Dieleman
in Journal of International Business Studies February 2024, vol. 55, pp. 377–395, https://doi.org/10.1057/s41267-023-00662-7
Summary
Status is an important intangible asset, yet when firms enter new countries, they lack standing in new social hierarchies as outsiders. Conventional wisdom suggests embeddedness in host-country networks can alleviate newcomers’ liability of outsidership. We complement this with insights from status signaling theory: Newcomers in host countries c…
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Article Leadership Purpose
“Real impact”: Challenges and opportunities in bridging the gap between research and practice. Making a difference in industry, policy, and society
Achieving impact from academic research is a challenging, complex, multifaceted, and interconnected topic with a number of competing priorities and key performance indicators driving the extent and reach of meaningful and measurable benefits from research. Academic researchers are incentivised to publish their research in high-ranking journals a…
By Yogesh K. Dwivedi Anand Jeyaraj Laurie Hughes Michael R. Wade and et al.
in International Journal of Information Management 4 February 2024, ePub before print, https://doi.org/10.1016/j.ijinfomgt.2023.102750
“Real impact”: Challenges and opportunities in bridging the gap between research and practice. Making a difference in industry, policy, and society
By Yogesh K. Dwivedi Anand Jeyaraj Laurie Hughes Michael R. Wade and et al.
in International Journal of Information Management 4 February 2024, ePub before print, https://doi.org/10.1016/j.ijinfomgt.2023.102750
Summary
Achieving impact from academic research is a challenging, complex, multifaceted, and interconnected topic with a number of competing priorities and key performance indicators driving the extent and reach of meaningful and measurable benefits from research. Academic researchers are incentivised to publish their research in high-ranking journals a…
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Case studies
Case Study Leadership
Digital transformation in Swiss public broadcasting (B): Pause or play at SRF?
Nathalie grappled with the divergent views in her head and from her team, evaluating a range of options: Persisting doggedly, halting completely, pausing temporarily, decelerating prudently or reconsidering and crafting a new strategy. The case discusses the cost of perseverance and provides an opportunity to explore the qualities of a CEO faci…
By Jim Pulcrano Hana Disch Adrian Jäggi Danay Lea Markus Sandmeier and Susanne Wille
Case reference: IMD-7-2533 ©2024
Case Study Leadership
Digital transformation in Swiss public broadcasting (A): Leading & accelerating change at SRF
This case examines the leadership challenges faced by Nathalie Wappler, the new CEO of SRF, a public media company that operates in the German-speaking part of Switzerland and is part of the largest media company in Switzerland, SRG. The study spans the period from 2019 to 2021, capturing the seismic shift in corporate identity, disruptive chang…
By Jim Pulcrano Hana Disch Adrian Jäggi Danay Lea Markus Sandmeier and Susanne Wille
Case reference: IMD-7-2532 ©2024
Case Study Strategy General Management
Leading in a Hurricane: The Midvale Healthcare system
The Midvale Healthcare System case explores the impact of complexity, uncertainty, volatility and ambiguity (CUVA) on leadership decision making and prioritization. Midvale, a traditionally stable healthcare provider, is experiencing an escalating cascade of internal and external challenges. These include shifting patient demographics, reimburse…
By Michael D. Watkins
Case reference: IMD-7-2566 ©2024
Case Study Strategy Digital Transformation Entrepreneurship General Management Leadership Organizational Behavior
Has Elon Musk X’d out?
In 2022, Elon Musk, known for his innovative ideas and often compared to Steve Jobs, made a big move by buying Twitter for $44 billion. He then started transforming the microblogging platform, rebranding it as “X.” His goal was to turn Twitter into a super app like WeChat in Asia, combining many services like messaging, shopping and payments int…
By Stefan Michel and Kathe Sweeney
Case reference: IMD-7-2537 ©2024
Case Study Operations
Tesco and Ocado: Contrasting online grocery supply chain models
E-commerce as a share of retail continues to grow, accelerated by the pandemic. This is particularly true of the online grocery market. As one of the largest online grocery markets in the world, the UK has many players, but two of the most dynamic are the market leader – Tesco – and Ocado. These two companies have taken markedly different approa…
By Ralf W. Seifert and Richard Markoff
Case reference: IMD-7-2553 ©2024
Case Study Strategy
Ipsen: Accelerating profitable growth in pharma
Part One: Ipsen, a global pharmaceutical firm headquartered in France, was facing significant challenges, including regulatory setbacks and fierce competition, when David Loew assumed the role of CEO in 2020. The loss of exclusivity for Somatuline, Ipsen’s flagship cancer drug, added to the complexities. Tasked by the board, Loew aimed to lead …
By Niccolò Pisani
Case reference: IMD-7-2510 ©2024
Knowledge Hub – I by IMD
Article Sustainability
Will a landmark climate ruling set a new precedent for citizen action?
The link between missed carbon emissions targets and human rights was made this week as a group of Swiss women won a landmark case against their government. What does this mean for protest and activist movements worldwide?
By Knut Bjarne Haanaes and Francisco Szekely
in I by IMD 11 April 2024
Will a landmark climate ruling set a new precedent for citizen action?
Article Artificial Intelligence Innovation
Keeping the human touch: Why people remain essential in the age of AI
Artificial intelligence (AI) is transforming every sector, from retail and marketing to education and healthcare. In this new landscape, asks IMD’s Amit Joshi, what is the value of the human touch?
By Amit M. Joshi
in I by IMD 11 April 2024
Keeping the human touch: Why people remain essential in the age of AI
Article Family Business
How can a firm use its past to its advantage during a time of unrest?
The strategic use of the past in firms is more complex than previously thought, but also more powerful and could even boost innovation, according to new research.
By Alfredo De Massis
in I by IMD 10 April 2024
How can a firm use its past to its advantage during a time of unrest?
Article Artificial Intelligence Sustainability
How AI should clean up its environmental act
Criticisms of artificial intelligence’s impact on sustainability are justified, says IMD’s Tomoko Yokoi, but there are important steps that technology companies can take to address the problem.
By Tomoko Yokoi
in I by IMD 10 April 2024
How AI should clean up its environmental act
Article Strategy
What we can learn from Kahneman, fast and slow
Observe and rethink until you find a pattern
By Stefan Michel
in I by IMD 9 April 2024
What we can learn from Kahneman, fast and slow
Article Artificial Intelligence
AI: the catalyst emerging economies have been waiting for 
Could South Africa become the India of the AI revolution? Adam Craker thinks so.
By Adam Craker
in I by IMD 5 April 2024
AI: the catalyst emerging economies have been waiting for 
Insights for practitioners
Article Finance Geopolitics Economics
Zum Tangotanzen braucht es zwei – Gedanken zur Regulierung im Banking
In Switzerland, the battle over the future regulation of the banking sector is raging behind the scenes. The state and the National Bank do not want to step in as rescuers in an emergency again. The banks do not want to allow their competitiveness to be restricted by new regulations. Both sides should have the same goal in mind: agile stability.
By Salvatore Cantale
in Handelszeitung 11 April 2024
Zum Tangotanzen braucht es zwei – Gedanken zur Regulierung im Banking
By Salvatore Cantale
in Handelszeitung 11 April 2024
Summary
In Switzerland, the battle over the future regulation of the banking sector is raging behind the scenes. The state and the National Bank do not want to step in as rescuers in an emergency again. The banks do not want to allow their competitiveness to be restricted by new regulations. Both sides should have the same goal in mind: agile stability.
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Article Artificial Intelligence Innovation
Keeping the human touch: Why people remain essential in the age of AI
Artificial intelligence (AI) is transforming every sector, from retail and marketing to education and healthcare. In this new landscape, asks IMD’s Amit Joshi, what is the value of the human touch?
By Amit M. Joshi
in I by IMD 11 April 2024
Keeping the human touch: Why people remain essential in the age of AI
Article Sustainability
Will a landmark climate ruling set a new precedent for citizen action?
The link between missed carbon emissions targets and human rights was made this week as a group of Swiss women won a landmark case against their government. What does this mean for protest and activist movements worldwide?
By Knut Bjarne Haanaes and Francisco Szekely
in I by IMD 11 April 2024
Will a landmark climate ruling set a new precedent for citizen action?
Article Leadership Strategy
The leadership presence pathway: A dynamic model of leader impact
Leadership presence (LP) is widely acknowledged as a foundation of effective leadership. Historically, LP has been conceptualized as a collection of qualities – specific personality traits and behaviors that a leader is perceived to possess or lack. However, this traditional perspective on leadership presence fails to consider the dynamic aspect…
By Michael D. Watkins
in Thinkers50 Blog 10 April 2024
The leadership presence pathway: A dynamic model of leader impact
By Michael D. Watkins
in Thinkers50 Blog 10 April 2024
Summary
Leadership presence (LP) is widely acknowledged as a foundation of effective leadership. Historically, LP has been conceptualized as a collection of qualities – specific personality traits and behaviors that a leader is perceived to possess or lack. However, this traditional perspective on leadership presence fails to consider the dynamic aspect…
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Article Artificial Intelligence Sustainability
How AI should clean up its environmental act
Criticisms of artificial intelligence’s impact on sustainability are justified, says IMD’s Tomoko Yokoi, but there are important steps that technology companies can take to address the problem.
By Tomoko Yokoi
in I by IMD 10 April 2024
How AI should clean up its environmental act
Article Family Business
How can a firm use its past to its advantage during a time of unrest?
The strategic use of the past in firms is more complex than previously thought, but also more powerful and could even boost innovation, according to new research.
By Alfredo De Massis
in I by IMD 10 April 2024
How can a firm use its past to its advantage during a time of unrest?
Books
Book Leadership Coaching Growth
Re-writing your leadership code: How your childhood made you the leader you are, and what you can do about it
Where do your instincts come from and how can you improve them? Stretched by heavy workloads and facing ever more complex environments, leaders increasingly find themselves running on automatic and relying on their instincts. But depending on instincts is a bit like gambling, and as a result, stress levels, mistakes and failure rates are all on …
By Shlomo Ben-Hur and Nik Kinley
Published By Palgrave Macmillan ©2024
Book Leadership Change Management Organizational Learning
The six disciplines of strategic thinking: Leading your organization into the future
International bestselling author of The First 90 Days Michael D. Watkins presents an actionable new framework to help aspiring leaders learn to think strategically—a set of skills more necessary than ever in a world of constant change. Pattern recognition. Systems perspective. Mental agility. Structured problem-solving. Visioning. Political savv…
By Michael D. Watkins
Published By Harper Business ©2024
Book Strategy
Strategy execution playbook
If you are currently working on a strategic initiative and don’t quite know what to do at this stage, this trusted companion provides you with a step by step guide for leading strategic initiatives by intertwining theoretical frameworks with practical tools. It provides you with guidance on which tools to use when. Embedded throughout the book a…
By Bettina Büchel Mahwesh Khan and Catherine Agamis
Published By International Institute for Management Development ©2023
Book Leadership Disruption Change Management Strategy
The future-ready leader: Accelerated learning for business success
If you’re a business leader looking to stay ahead of the curve, this book is an essential guide. It offers a comprehensive overview of the major trends shaping the future of business, drawing on reviews of 70 recent management books and interviews with 21 senior leaders. What sets this book apart is that it’s grounded in the real-world experienc…
By Peter Lorange and Karin Mugnaini
Published By Springer ©2023
The future-ready leader: Accelerated learning for business success
By Peter Lorange and Karin Mugnaini
Published By Springer ©2023
Summary
If you’re a business leader looking to stay ahead of the curve, this book is an essential guide. It offers a comprehensive overview of the major trends shaping the future of business, drawing on reviews of 70 recent management books and interviews with 21 senior leaders. What sets this book apart is that it’s grounded in the real-world experienc…
Copyright ©2023
Copyright owner External Copyright
Available Languages English
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Book Family Business Entrepreneurship
Family office navigator: Your guide to building a multigenerational family office
In today’s complex world, family offices play a pivotal role in safeguarding a family’s heritage and unity while preserving and growing generational wealth. As the world around us evolves, so too must family offices as they adapt to meet the changing needs of their families. The Family Office Navigator is your essential guide for establishing an…
By Peter Vogel and Mario Marconi
Published By International Institute for Management Development ©2023
Book Competitiveness Economics Data Analytics
IMD World Competitiveness Yearbook: 2023
Now in its 35th year, the IMD World Competitiveness Yearbook continues to serve as a beacon for governments, businesses, and individuals as they seek to navigate the complex landscape of global competitiveness. Our annual assessment sheds light on the key factors that drive and shape the comparative data, providing valuable insights and benchmar…
By Arturo Bris Christos Cabolis José Caballero and Marco Pistis
Published By International Institute for Management Development ©2023
IMD World Competitiveness Yearbook: 2023
By Arturo Bris Christos Cabolis José Caballero and Marco Pistis
Published By International Institute for Management Development ©2023
Summary
Now in its 35th year, the IMD World Competitiveness Yearbook continues to serve as a beacon for governments, businesses, and individuals as they seek to navigate the complex landscape of global competitiveness. Our annual assessment sheds light on the key factors that drive and shape the comparative data, providing valuable insights and benchmar…
Copyright ©2023
Copyright owner IMD Copyright
Available Languages English
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Research Information & Knowledge Hub for additional information on IMD publications