By creating a cycle of learning and forgetting, companies will be better able to adapt to changing environments, evading the mental entrapments of the past.
Now that the era of free capital has come to an end, businesses are re-embracing discounting. As strategists re-discover discounting, they should consider how to use it to manage uncertainty, strategize across timescales, and align multiple actors.
Munger’s success was built on a system for decision-making—not a classical investment philosophy, but rather a mental discipline underpinning one. We outline four ideas strategists can learn from Munger to think more clearly in turbulent times.
"We all seem to have collectively lost sight of what it means to be a good business, in the ethical sense."
Operations have always been foundational to competitive advantage, but the nature of this relationship is shifting.
In this sequel to our work on mastering the science of organizational change, we delve into the realm of moviemaking—an industry relatively successful at repeatedly delivering complex projects—to uncover unique practices that help improve the odds of success in corporate transformations.
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