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Strategy

4 Ways to Win the Innovation War

As companies battle it out in today’s hypercompetitive markets, where traditional forms of differentiation are now just commodities, the primary competitive weapon has become an organization’s capacity for radical and continuous innovation. CEOs wishing to lead from the front will need to understand how to dramatically improve this capacity to give their companies a strategic advantage in the new global innovation war.

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Why CEOs Must Change How Their Organizations Forecast

Improving the odds of predicting an outcome is a vital determinant of informed business decisions. By being able to more accurately and quickly forecast such factors as market demand, changing consumer demographics or rising political instability, a company gets a jump on its competitors to generate profitable business revenue.

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Coming in Second: When Being a ‘Fast Follower’ Is the Best Strategy

Marathon.

An accepted wisdom in business is that being first-to-market with a product, service or a new wrinkle on an old idea is the optimal strategy. Intuitively, this makes sense—a new market is there for the taking. The early mover can capitalize on its inventiveness, win brand loyalty and fend off the copycats that follow. Now comes a series of provocative books declaring that being an early mover is fraught with danger, that the risk of failure for a first-to-market company is much higher than for the pack in pursuit.

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6 Ways to Nurture CEOs’ Visionary Thinking

Every CEO wants to be a visionary; it’s practically in the job description, and it’s one of the most reliable indicators of effective business leadership. But they don’t have to rely only on visions, dreams and flashes of insight to provide a picture of the future they can use to forge missions and cast strategies.

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