Harvard Business Review

JANUARY 5, 2017

Political campaigns are marketing campaigns, messages aimed at selling a product. Media companies are experiencing an extreme form of competition that comes with digital technologies: Everyone is a media company today. Yet by 2004 its market share was down to 3%. Bigger marketing budgets may not pay off.

Media 10

Media Advertising Fixed Costs Content 10

Harvard Business Review

APRIL 5, 2017

Similarly, considering greater accruals (which represent the difference between reported income and operating cash flows) to measure short-term orientation has its difficulties. McKinsey’s margin growth measure classified firms that report higher earnings growth than revenue growth as myopic. Are all share repurchases myopic?

EPS 8

EPS Metrics Depreciation Short-term 8

Harvard Business Review

OCTOBER 5, 2017

One answer to that first question shows up in study after study: superstar firms are succeeding in large part due to information technology. It could be because “software development typically requires large upfront fixed costs,” meaning that firms that are already pretty large are the ones who can afford to invest in it.

Document 8

Document Industry Software Fixed Costs 8