A science-based approach to decision-making is essential for business success in today's rapidly changing, chaotic world. Why? Because a logical, data-based methodology enables leaders to make the best decisions quickly and proactively. This article provides a brief introduction to selected science-based decision-making methodologies appropriate in dynamic environments.
This article is the epic story of the battle of three companies, as they all attempted to capture and ride the developing Video Recorder "Tsunami": RCA, the Tsunami creator; Sony, the first serious wave rider; and JVC, the ultimate winner. Telling the story from the perspective of RCA, it illustrates important lessons about managing a business in a rapidly changing, disruptive environment.
Sudden and disruptive changes in the corporate environment that have a radical impact reaching far beyond one company are what we call "Business Tsunamis." How do they arise? Why are they so deadly? How can business leaders survive their destructive power and harness it to achieve business advantage? Answering these questions is the focus of this article.
Business management is advancing linearly in an exponentially changing, technology driven world; and the gap is widening. What needs to be done? That is the key question that this article addresses. The answer revolves around the need for the "art" of business management to transition to the "science" of business management.
by Carol L. Fatuzzo and Ennio Fatuzzo
Change is inevitable, but the rapidly increasing rate of change occurring now is unprecedented. This article explores the key drivers of today's accelerating pace of change and their impacts on business. Focus includes "instant" communication, global "interconnectivity," social media, and data science. The objective is to kick-start a revolution in business management.