article thumbnail

Want to Thrive in Today’s High-Speed, Hypercompetitive Business World? Teach Your Management Team to Iterate.

Strategy Driven

performing entrants in any given market space. And managers who continually ask themselves and their teams what that next logical step to be taken is – and then take it, learn from it and repeat the process – are Iterating. Iteration is the way effective systems solve problems whose solutions are too complex to be predefined.

article thumbnail

Trial and Error Is No Way to Make Strategy

Harvard Business Review

For decades now, both consultants and academics have been arguing that the world has become so fast paced, so hypercompetitive, so complex, so ambiguous, and so uncertain, that the death knell has sounded for strategy’s central concept of sustainable competitive advantage. But it is not a firm’s ultimate strategic goal.

article thumbnail

How Successful Virtual Teams Collaborate

Harvard Business Review

I have worked on many teams in which we dutifully did our jobs, and the group fulfilled its objectives. Collaborative activity is the "secret sauce" that enables teams to come up with innovative new products or creative, buzz-worthy marketing campaigns. Many managers have been fearful of using social media beyond marketing purposes.

Team 8