Strategy

Managers are often advised to make their goals specific, measurable, achievable, realistic, and time-bound (SMART), but the traditional approach to goals can actually undermine the ability of a company to execute its strategy. Instead, managers should set goals that are "FAST": embedded in Frequent discussions; Ambitious in scope; measured by Specific metrics, and Transparent.

The dramatic rise of China’s digital leaders has put the squeeze on Western internet giants. Western players must learn quickly if they are to get back in the game in the world’s fastest growing digital market.

As digital disruption expands, many legacy businesses seek partnerships with tech companies to maintain competitiveness in the digital sphere. But instead of a centralized “hub” partnership, some companies find greater success through an adaptive ecosystem model, where partners develop significant projects or innovations together. This type of strategy requires imagination and flexibility.

The traditional "SMART" approach to goal setting may no longer offer companies the best path forward. In a continually changing competitive environment, companies should develop their goals in the context of current conditions.

Meeting the recommendations for disclosure put forth by the Task Force on Climate-related Financial Disclosures might seem like a tough job. But if the oil & gas industry is any example, it’s not as difficult as some might imagine — and there are excellent reasons for corporate boards to consider it.

Once upon a time, business leaders could leave technology to the technologists. But today, we are at the starting line of a universal technological revolution — one that is fundamentally altering commerce, health care, learning, and the environment.

At the same time that many traditional retailers are closing offline stores, digitally native vertical brands such as Bonobos and Warby Parker are aggressively expanding into offline locations. And both online and offline retailers are converging in experience-oriented “showrooms.”

Many executives take the value of best practices as a given. We have an abiding faith in the idea that the most direct route to improved performance is to study what successful firms do and copy them. In reality, that is quite rarely the case.

Considering the increasing pace of technological change and volatility in many industries, the need for corporate transformation is rising. Unfortunately, the chance of successfully achieving it is falling.