MIT Sloan Management Review Article on Open Up Your Strategy
- 11m
- Christian Stadler, Julia Hautz, Kurt Matzler, Stephan Friedrich von den Eichen
- MIT Sloan Management Review
- 2021
Formulating and executing sound organizational strategy is difficult work. Strategy is often made by elite teams and thus can be limited by their biases about competitors, customer needs, and market forces. And it can be an uphill battle convincing stakeholders across the company to channel money, time, and energy in a new and unproven direction.
Our solution to both the strategy formulation and execution challenges is radical: Open up your strategy process. Open strategy offers leadership teams access to diverse sources of external knowledge they wouldn’t otherwise have, while also making individual leaders aware of their biases and helping them build the buy-in needed to speed up execution.
About the Author
Christian Stadler (@enduringsuccess) is professor of strategic management at Warwick Business School at Warwick University.
Julia Hautz is professor of strategic management at the University of Innsbruck.
Kurt Matzler (@kmatzler) is professor of strategic management at the University of Innsbruck, academic director of the Executive MBA program at MCI in Innsbruck, and a partner at IMP Consulting.
Stephan Friedrich von den Eichen is managing partner at IMP Consulting and professor of business model innovation at the University of Bremen. They are the coauthors of Open Strategy: Mastering Disruption From Outside the C-Suite (MIT Press, 2021), from which this article is adapted.
In this Book
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MIT Sloan Management Review Article on Open Up Your Strategy
