- 25 Apr 2007
- Research & Ideas
Feeling Stuck? Getting Past Impasse
Feeling "stuck," as psychologically painful as it is, is the first step to awareness of new opportunities in career and in life, says Harvard Business School's Timothy Butler. In this Q&A and excerpt from his new book, Getting Unstuck, he explains six steps for getting from here to there. Key concepts include: A psychological impasse is developmentally necessary for human beings. Although impasse is usually first expressed as a failure, it is a requirement for individuals to change their way of thinking about themselves and their role in the world. There is a six-phase plan for recognizing and overcoming impasse, starting with feeling stuck and ending with finally taking action. Each phase has its predictable challenges, but some people find one phase more difficult than another. Closed for comment; 0 Comments.
- 08 Feb 2007
- Working Paper Summaries
Managing Know-How
For many firms, the ability to create, organize, and disseminate know-how is a key factor in their ability to succeed. But should all companies engage in formal knowledge management? If not, which companies derive most value from a formal knowledge system? Conditional on implementing such a system, should the company focus more on learning from successes or learning from failures? Should such knowledge systems simply capture all experience, or should they be more selective? This paper develops and applies an economic framework to examine these questions. Key concepts include: Supporting firms' focus on best practice, information about successes is typically more useful than information about failures. Past successes can guide future successes, while past failures only point out certain pitfalls. Recording mediocre know-how can be counter-productive by inefficiently reducing employees' incentive to experiment. Larger firms with high turnover potentially gain the most from knowledge systems, but should also be the most selective when encoding information. The framework in this paper can be used to explore other questions on knowledge management. As knowledge management continues to grow in importance, a systematic economic perspective may shed important insights. Closed for comment; 0 Comments.
- 11 Sep 2006
- Research & Ideas
Negotiating When the Rules Suddenly Change
Following the adoption of a collective bargaining agreement in 2005, National Hockey League GMs had one month to absorb the new rules and put a team together. How to best negotiate in an uncertain environment? Michael Wheeler advises looking to military science for winning strategies. Key concepts include: Traditional negotiation theory says little about crafting strategy in highly dynamic markets—but the military knows all about strategy and uncertainty. Make an informed bet on how you think events will unfold, but also identify the greatest threats to success. Prepare to make good decisions on the fly. Situational awareness and the ability to learn as you go are critical. Closed for comment; 0 Comments.
- 31 Jul 2006
- Research & Ideas
When Not to Trust Your Gut
Most of us trust our intuition more than we should, especially when the pressure is on in negotiations. Professors Max Bazerman and Deepak Malhotra on negotiating more rationally. From Negotiation. Key concepts include: Too much trust in intuition can lead to irrational decisions. Employ "System 2" thinking to apply logic even in times of stress and indecision. In negotiations, schedule more time than you think you will need. Closed for comment; 0 Comments.
- 05 Jul 2006
- Working Paper Summaries
Do We Listen to Advice Just Because We Paid for It? The Impact of Cost of Advice on Its Use
People make decisions every day by weighing their own opinions with advice from other sources. But do we know whether people use advice in a way that is helpful to them? In two experiments performed under controlled, laboratory conditions, Gino found that all else being equal, people weigh advice differently according to the amount of money they pay for it. Also, the cost of advice affects the degree to which people use it. Key concepts include: Decision makers may rely on costly advice more heavily than free advice. The cost of advice did not affect the value gained by following the advice. Cost-of-advice research results might interest the consulting and medical professions. We need to better understand decision makers' sensitivity to the cost they pay to gain advice. Closed for comment; 0 Comments.
- 05 Jul 2006
- Working Paper Summaries
Effects of Task Difficulty on Use of Advice
We make most of our choices by weighing other people's advice counter to our own opinions. People generally underweight advice from others, though the practice is not universal. In two studies, it is determined that people overweight advice on difficult tasks but underweight it on the easy ones. Key concepts include: Understand built-in biases when weighing advice, especially on difficult tasks. Don't automatically give more credence to the opinions of advisers or consultants over your own experience. Closed for comment; 0 Comments.
- 29 May 2006
- Research & Ideas
Why CEOs Are Not Plug-and-Play
Company-specific skills may be valuable in a new job under the right conditions, say Harvard Business School's Boris Groysberg, Andrew N. McLean, and Nitin Nohria. They studied GE; here's an excerpt from Harvard Business Review. Closed for comment; 0 Comments.
- 30 Jan 2006
- Research & Ideas
Looking Behind Bad Decisions
In a recent HBS Working Paper, HBS professor Max Bazerman and colleagues explore how biases and human psychology impede policy-making efforts that could vastly improve people's lives. Closed for comment; 0 Comments.
- 03 Oct 2005
- Research & Ideas
The Truck Driver Who Reinvented Shipping
Malcolm P. McLean (1914-2001) hit on an idea to dramatically reduce labor and dock servicing time. An excerpt from In Their Time: The Greatest Business Leaders of the Twentieth Century by Harvard Business School's Anthony J. Mayo and Nitin Nohria. Closed for comment; 0 Comments.
- 22 Aug 2005
- Research & Ideas
Balancing the Future Against Today’s Needs
It's hard to dream five years out when your organization is doing all it can to take care of the here and now. This article from Harvard Management Update offers a new lens for positioning growth efforts within your company while staying focused on your core strengths today. Closed for comment; 0 Comments.
- 22 Aug 2005
- Research & Ideas
The Hard Work of Failure Analysis
We all should learn from failure—but it's difficult to do so objectively. In this excerpt from "Failing to Learn and Learning to Fail (Intelligently)" in Long Range Planning Journal, HBS professor Amy Edmondson and coauthor Mark Cannon offer a process for analyzing what went wrong. Closed for comment; 0 Comments.
- 06 Jun 2005
- Research & Ideas
Don’t Listen to “Yes”
It's essential for leaders to spark conflict in their organizations, as long as it is constructive. A Q&A with Professor Michael Roberto, author of the new book Why Great Leaders Don't Take Yes for an Answer. Closed for comment; 0 Comments.
- 07 Feb 2005
- What Do You Think?
If You Blink, Will You Miss?
Malcolm Gladwell's popular new book is about the power of snap judgements and the ways in which people develop the ability to make them. Can—and should—people make typical business decisions in the blink of an eye? Closed for comment; 0 Comments.
- 31 Oct 2004
- What Do You Think?
Should the Wisdom of Crowds Influence Our Thinking About Leadership?
New research suggests that large groups of people are better than a few experts at everything from estimating the true magnitude of things to diagnosing causes of problems to predicting outcomes. If this is correct, what does it say about the true nature of effective leadership? Closed for comment; 0 Comments.
- 25 Oct 2004
- Research & Ideas
Planning for Surprises
A company doesn't need a crystal ball to see impending disasters. Harvard Business School professor Max H. Bazerman and INSEAD professor Michael D. Watkins explain how to foresee and avoid predictable surprises. Closed for comment; 0 Comments.
- 02 Feb 2004
- Research & Ideas
Where Does Apple Go From Here?
Macintosh market share continues to decline, but the iPod and iTunes are hit products. Where does Apple Computer’s future lie? An interview with HBS professor David Yoffie. Closed for comment; 0 Comments.
- 15 Dec 2003
- Research & Ideas
The New Global Business Manager
What are the critical skills global managers need today compared to ten years ago? An interview with Harvard Business School professor Christopher A. Bartlett. Closed for comment; 0 Comments.
- 15 Sep 2003
- Lessons from the Classroom
HBS Cases: Developing the Courage to Act
Professor David A. Garvin offers a rare inside glimpse at how the case method is used by both faculty and students in classrooms at Harvard Business School. Closed for comment; 0 Comments.
- 04 Aug 2003
- Research & Ideas
Shackleton: An Entrepreneur of Survival
Polar explorer Sir Ernest Shackleton is the subject of a new HBS case study. Professor Nancy F. Koehn discusses lessons for leaders from the voyage of the Endurance. Closed for comment; 0 Comments.
How Do Managers Think?
"Uncertainty sometimes is essential for success" asserts a new book, How Doctors Think. The work of doctors raises intriguing questions about managing, says Jim Heskett, since diagnostics are an important part of managerial decision-making, too. Jim sums up nearly 60 responses from readers around the world, including practicing physicians. Closed for comment; 0 Comments.