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50 Years Ago an Economist Worried About Unchecked Corporate Power. Here’s What His Theory Got Wrong

Harvard Business Review

This summer marks 50 years since the publication of John Kenneth Galbraith’s The New Industrial State and its quick rise to the top of the New York Times Best Seller list. You actually don’t have to read The New Industrial State to understand its story. Thus the very foundation of The New Industrial State did not hold.

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Health Systems Need to Completely Reassess How They Manage Costs

Harvard Business Review

As I speak with industry executives, a common refrain is “I’ve done all the easy stuff.” savings and loan industry crisis in the 1980s and 1990s showed us, enough marginal franchises added to a healthy portfolio can swamp the enterprise. A recent Navigant survey found that U.S. ” Clearly, more is needed.

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How to Transform a Traditional Giant into a Digital One

Harvard Business Review

Every industry will soon be driven by digitization and every winning company will be using algorithms, or mathematical rules for processing information, to shape the end-to-end customer experience. The result is the reconstitution or destruction of industries, creation of new market spaces, and reshaping of old industry ecosystems.

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Strategies for Success in a Dematerialized World

Strategy Driven

But for old-school bureaucracies, it’s a scary new world that requires managers to rethink the basic principles that govern established businesses. From health care to handbags, no industry is immune. If your firm outsources mobile app development to an agency or design firm, there’s your answer). What does it do differently?

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Corporations Weren’t Designed to Run on Code

Harvard Business Review

Outsourcing to robots is just another form of outsourcing. Rather, we are in a structural breakdown, as corporatism — enhanced by digital industrial mechanisms — runs out of places from which to extract value for growth. Uber, as we’ve seen, means to be the creative destroyer of the current taxi industry.