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Groundbreaking book that redefines risk in business as potentially powerful strategically to help increase profits. Get out of your "defensive crouch": learn which risks to avoid, which to mitigate, and which to actively exploit.
In this book, the study of strategic risk is not only for its control and mitigation using analytics and digital transformation in organizations, but also it is about the strategic risks that digital transformation can bring to organizations. Strategic risk control is one of the goals in creating intelligent organizations and at the same time it is part of the appetite for creating smarter organizations to support organizations' development. Knowledge that is created by data analytics and the capacity to operationalize that knowledge through digital transformation can produce potential sustainable competitive advantages.The core of the volume is connecting data analytics and artificial intelligence, risk management and digitalization to create strategic intelligence as the capacity of adaptation that organizations need to compete and to succeed. Strategic intelligence is a symbiotic work of artificial intelligence, business intelligence and competitive intelligence. Strategic risk is represented by the probability of having variations in the performance results of the organizations that can limit their capacity to maintain sustainable competitive advantages. There is an emphasis in the book about the conversion of models that support data analytics into actions to mitigate strategic risk based on digital transformation.This book reviews the steps that organizations have taken in using technology that connects the data analytics modeling process and digital operations, such as the shift from the use of statistical learning and machine learning for data analytics to the improvement and use of new technologies. The digitalization process is a potential opportunity for organizations however the results are not necessarily good for everyone. Hence, organizations implement strategic risk control in cloud computing, blockchain, artificial intelligence and create digital networks that are connected internally and externally to deal with internal and external customers, with suppliers and buyers, and with competitors and substitutes. The new risks appear once new knowledge emerges and is in use, but at the same time the new knowledge supports the initiatives to deal with risks arising from novel ways of competing and collaborating.
Pulling together into a single framework the two separate disciplines of strategy management and risk management, this book provides a practical guide for organizations to shape and execute sustainable strategies with full understanding of how much risk they are willing to accept in pursuit of strategic goals.
Two world-renowned strategists detail the seven leadership imperatives for transforming companies in the new digital era. Digital transformation is critical. But winning in today's world requires more than digitization. It requires understanding that the nature of competitive advantage has shifted—and that being digital is not enough. In Beyond Digital, Paul Leinwand and Matt Mani from Strategy&, PwC's global strategy consulting business, take readers inside twelve companies and how they have navigated through this monumental shift: from Philips's reinvention from a broad conglomerate to a focused health technology player, to Cleveland Clinic's engagement with its broader ecosystem to improve and expand its leading patient care to more locations around the world, to Microsoft's overhaul of its global commercial business to drive customer outcomes. Other case studies include Adobe, Citigroup, Eli Lilly, Hitachi, Honeywell, Inditex, Komatsu, STC Pay, and Titan. Building on a major new body of research, the authors identify the seven imperatives that leaders must follow as the digital age continues to evolve: Reimagine your company's place in the world Embrace and create value via ecosystems Build a system of privileged insights with your customers Make your organization outcome-oriented Invert the focus of your leadership team Reinvent the social contract with your people Disrupt your own leadership approach Together, these seven imperatives comprise a playbook for how leaders can define a bolder purpose and transform their organizations.
Successfully navigate the changing face of the CIO role Strategic Information Technology offers CIOs a handbook for engaging with the senior management conversations surrounding strategy. The CIO role is currently undergoing a massive transition from technology-focused expert to a more strategic mindset, and this book provides proven methods for taking your seat at the table. Lessons from high-performing CIOs and a wealth of leading-edge insight provide invaluable guidance for positioning technology as a strategic driver across the business, while a focus on building the necessary connections—for example, an alliance between IT and HR—provide a multimodal approach to navigating the transition. The evolution of the CIO’s role involves more than simply technical knowledge; the new CIO must be an influencer, an engager, and just as adept at the soft skills that become increasingly crucial as you climb the management ladder. It’s about changing mindsets, translating hard skills into strategic advantages, and demonstrating IT’s value to the strategic decision making process. This book provides best practices, illustrative examples, and up-to-date perspective for CIOs wanting to: Position IT as a critical driver of overall strategy Build on functional expertise with strategic insight Learn from the stories of successful tech-to-strategy transformations Engage C-Suite peers in shaping the strategic conversation Not long ago, the CIO occupied a unique place in the C-Suite. Executive by title, CIOs have nevertheless been seen as predominantly the “chief tech expert” with little input into strategy, as IT has historically been regarded as a tool rather than a source of competitive advantage. The truth is becoming increasingly apparent, with companies around the world turning to technology in order to gain a competitive edge, and CIOs are beginning to claim their place in strategy discussions. Strategic Information Technology offers much needed guidance for a successful transformation.
Digitization of economic and management processes allows for the delivery of new value and higher efficiency in the implementation of strategic goals. This is due to the inclusion of digital technologies in the existing rules of functioning among partners involved in the flow of resources, and from their readiness for digital transformation. A significant challenge, in practical, organizational, and scientific terms is to understand the opportunities and threats resulting from digital transformation, to identify optimal strategies for the development of business entities in new economic and management conditions, taking care to adopt collateral and proper management of new risks. Addressing this challenge to the readers - contributors indicate the latest theoretical advances, and practical examples in FinTech, The Internet of Things, and AI, among others. This results in a synthetic look at the complex digital transformation processes of the modern world, both in terms of the underlying causes and the vast effects of the transformations and digitization of social and economic life. Contemporary Studies in Economic and Financial Analysis publishes a series of current and relevant themed volumes within the fields of economics and finance.
Elements of Digital Transformation is a practitioner’s guide to the digital transformation process. It is also a guide for managers in today’s organizations that are accelerating digital transformation to modernize core technology capabilities and processes. The book discusses such key components of digital transformation as processes, principles and proven methods. It also covers such novel concepts in digital transformation as the first-time right framework, incident management transformation, digital factory, cloud migration, API-first approach and legacy modernization. Other highlights of the book include: A cloud migration framework along with a cloud migration methodology, rollout strategy and migration principles Principles and approaches for legacy modernization and process modernization Smart ticket management, smart problem management, proactive maintenance and ticket-avoidance architecture The novel digital factory approach to automate the software process Detailed case studies, a sample digital transformation exercise and a consulting exercise for digital transformation provide readers with real-world digital transformation scenarios and best practices. The book also discusses DevOps, automation and agile delivery models that help in digital transformation.
This handbook provides an authoritative and truly comprehensive overview both of the diverse applications of information and communication technologies (ICTs) within the travel and tourism industry and of e-tourism as a field of scientific inquiry that has grown and matured beyond recognition. Leading experts from around the world describe cutting-edge ideas and developments, present key concepts and theories, and discuss the full range of research methods. The coverage accordingly encompasses everything from big data and analytics to psychology, user behavior, online marketing, supply chain and operations management, smart business networks, policy and regulatory issues – and much, much more. The goal is to provide an outstanding reference that summarizes and synthesizes current knowledge and establishes the theoretical and methodological foundations for further study of the role of ICTs in travel and tourism. The handbook will meet the needs of researchers and students in various disciplines as well as industry professionals. As with all volumes in Springer’s Major Reference Works program, readers will benefit from access to a continually updated online version.
Long-term value creation—the board's new agenda. A big shift in public ownership has created a new set of challenges for boards. Index funds managed by firms like Vanguard, BlackRock, and State Street represent an emerging class of permanent institutional investors who are focused on creating and preserving long-term corporate value. These investors are stating in no uncertain terms that simply managing for short-term shareholder profit is not acceptable. Bill McNabb, Ram Charan, and Dennis Carey have been on the front lines of these changes with the investment community, corporate boards, and top-level management teams. Since TSR (total shareholder return) cannot keep the short and long term in balance, the authors argue, boards should focus on a different kind of TSR—talent, strategy, and risk—because decisions and actions around these factors, more than any others, determine whether or not a company creates long-term value. This book redefines the board's agenda and explains how to: Build and incentivize the right leadership team Help leaders take a longer view and communicate it to investors Refresh board composition and create diversity to meet the new challenges Keep major risks, such as cyberattacks and sexual harassment allegations, front and center Analyze the business through the eyes of a shareholder activist With the new realities of corporate ownership, boards need to lead for the long term. This authoritative book shows them how.
What is risk? Is it a real danger or just an opportunity in disguise? Can it be out-manoeuvred or is it something to be embraced and worked with? When companies are developing their business strategies, risk may be mentioned in passing (and even then, frequently misunderstood) but is rarely seen as a key component of the strategic decision-making process. This can lead to unforeseen complications – strategy is all about making decisions that concern an uncertain future and so risk should play a significant role in that process. The handling or understanding of risk is often delegated to specialists and much of what is written about risk is, due to its complexity, inaccessible to the majority of senior managers. Risky Strategy aims to make the consideration of risk more accessible and understandable and, in doing so, develop a common language and understanding for recognising and handling it. Based on research carried out by Ashridge Business School, as well as case studies of the strategic decision-making process in action, Jamie MacAlister takes the subject out of the textbooks and brings it engagingly to life. Drawing on lessons from Apple to Procter & Gamble, from Napoleon to Nelson, from Roger Federer to Sir Alex Ferguson, and from Pythagorus to Sir Isaac Newton, Risky Strategy provides a new and dynamic perspective on risk, demonstrating how and when to take the right risk, and knowing how to recognise the common risks that can derail even the most well-planned projects.