Tips from the Top

Nassim Taleb on how to re–think and re–focus risk management
Intellectual, essayist, and philosopher on the topic of rare, consequential events (what he terms “Black Swans”), Nassim Taleb is confounded by humanity's insistence to dwell on the small, probable events instead of investigating the high–impact, bigger picture ones. In “Six Mistakes Executives Make in Risk Management” he translates this view to risk management, and claims that the general strategy for a company to focus on high–probability, low–risk events doesn't accurately prepare a company for a crisis. By re–focusing risk strategy to prevent “Black Swans” your company can out–survive the competition. [Read +]

Million Dollar Tales

Applying Social Media Successfully to Renovate Brands
Social media has created a new platform of interaction between consumers and manufacturers. The companies that have most successfully adapted to this new medium of conversation have not only participated, but also executed strategies to create their own networks of communication. Hasbro, Inc. has risen to the challenge, and with television partnerships and new online campaigns, the company is revolutionizing their brand from a toy and game company to a “branded play company.” [Read +]

DELVING DEEPER

Dell's Diversification Strategy: ‘A Day Late and a Dollar Short?’
The modern market is changing so quickly that even if your company continues doing what it does best, it won't keep up. Dell, for example, has previously found success by branding itself as the most customer–service oriented, efficiency–focused company. However, their inability to implement a strategy that will continue to make it stand out in a sea of expanding IT/computer corporations could be a critical problem. In today's market, a company that doesn't either occupy a key niche or is a top innovator is one that may not be around for long.
[Read +]
By Knowledge@Wharton