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1. Business Strategy Innovation and Product Innovation
It is interesting to note how many companies in recent years have adopted ‘‘innovation’’ as a core value or as part of their mission statements. If we as a society have moved from the Information Age to the Knowledge Age, then this relatively new emphasis on innovation is quite logical. When information is ubiquitous and is no longer a source of competitive advantage, it is the innovative use of that information (via knowledge) that differentiates people, companies, and nations. Innovation ...

2. Strategy Innovation as a Source of Corporate Renewal
Strategy innovation is often considered the calling card of startup companies looking to enter already-existing markets. However, established companies also use strategy innovation to their advantage, if they have the instinct for it. We recognize this instinct as a strong, internal emphasis on corporate ‘‘renewal.’’ The instinct for renewal is something beyond a cultural norm; it seems to be embedded in the organization’s DNA, what it sees when it looks in the mirror. These companies...

3. The Corporate Dilemma of the Current Business vs. the Future Business
It is not easy for the senior management team of an existing company to navigate the white water conditions of a dynamic marketplace. Everything seems to be constantly changing—products, technologies, competitors, customer needs, distribution channels, and so on. How should the company respond? Is it better to take action or wait for the market to settle down? Should the company stick with their current strategy or move to a new one? On the one hand, the company must manage its current business, whic...

4. Developing Applications with the User in Mind
The corporate scenario described in this article is an example of a common problem in the development of management support systems: in both systems design and implementation, too little attention is given to the needs and perspectives of the end user. Inadequate attention to ease of use in system design and lack of appropriate training and conversion preparedness affect applications aimed at salespeople, production people, administrators, middle managers, and senio r management. These shortcomings can be observed in companies across ...

5. Milestones in Venture Development
Despite the vast differences between one startup and another, we will attempt to describe the main stages in the development of ventures, which are common to all startups. An understanding of these stages is vital for planning the capital-raising process, since they are intimately tied to the startup's cash burn rate, its ability to raise capital, its value, and the amount of capital it needs to raise. The development of a startup may be tracked along four principal development dimensions. Its combined progress on all fou...

6. Stages in Raising Venture Capital
There are several customary stages in venture capital investments, which will be discussed in this section. All of the stages are affected by several characteristics that change from one investment round to the next: the condition of the company, the sources of financing, the company's value, the amount of capital raised, the designation of the capital raised, and problems related to the specific stage of financing. Obviously, these are general characteristics that change from one company to another and also depend on the condi...

7. The Structure of a Business Plan
The business plan is the document in which the company's business planning is summarized. Usually, the purpose of the plan is to describe the company and its products, while specifying the company's strategy and vision, as well as its operating, financing, and marketing plans. An additional purpose of the business plan is to serve as a tool for presenting the company to investors. This objective of the business plan attracted much attention for many years, but has lost favor during the "Internet bubble" years. However, it is hi...

8. The Myths and Realities of IT Steering Committees
The ITSC performs a critical function in supporting the implementation of the corporate information technology strategic plan (ITSP). Further, the committee ensures that it minimizes the risks associated with implementing the IT strategies and receives a return on its investment. Too often organizations do not monitor the activities and decisions of their IS department. Rather, they rely on the IS department to provide the IT solutions because executive management does not understand technology. However, this attitude...

9. How to develop an IT alliance strategy
When IT is supporting a strategic alliance, it must take the time to plan. The time spent up front will be well worth it, ensuring that all parties are clear on the needs and desired results. A thorough project management methodology is critical to success and to compress the overall timeline. In particular, IT should: -   Understand the business area’s strategy and objectives for the alliance: This includes reading the strategic alliance contract, charter, and other documentation. It is also important to meet...