Click to listen I am writing this as the fall semester wraps up at Boston University where, as an adjunct professor, I teach a course in entrepreneurship. I end the class by having the students present an “investor pitch” to a panel of faculty and investors. It’s a great exercise for helping students learn what matters…
Click to listen It was 1997, and we were planning the first remodel of our house. We invited Peter, a design-build contractor who came strongly recommended by a close friend, to come meet with us.We had a great conversation, at the conclusion of which Peter asked, “Are you planning to put the job out to bid?”He…
I received an email newsletter the other day on the topic of strategy. The recommendation? A one-year strategic plan.
My family and I have long been supporters of the performing arts, music in particular. My wife, Liz, is an active amateur musician, playing double bass and flute in several bands and orchestras. It’s an occupation that has given me a front row seat (often literally!) into how these organizations tend to operate.
A few months ago, I wrote about the cargo ship disaster in Baltimore. It was a good example of how companies can get into trouble by not paying attention to small factors that, while not consequential individually, can add up to create a significant failure.
Back when Tesla began (2003), the company was all in on innovation. Its commitment to creating electric vehicles (EVs) that are also performance cars that could travel longer distances is perhaps one of the reasons the EV market has grown so rapidly this century (EVs have been around a lot longer than that).
At a recent networking gathering, I was asked, “Which is more important: strategy or execution?” I didn’t want to be rude, but it’s a nonsensical question. It’s like asking, “Which is more important, your car’s engine or its wheels?”
In one of my entrepreneurship classes, a team of students came up with the idea of an app for helping young people navigate the local nightlife scene. The app’s focus would be on understanding things like line length, cover charges, and other factors specific to the bars and nightclubs here in Boston.
You’ve no doubt heard about the cargo ship that struck the Francis Scott Key Bridge in Baltimore last month, causing nearly the entire structure to collapse instantly. As of this writing, the cause is still not entirely clear.
I’ve often said that a company should have just one strategy — something that functions as the highest-level guidance for the organization. So I had to think carefully when I was asked recently about the need for a departmental strategy, that of the IT or marketing department, for example.