Tag Archives: Business

Essays on Management: Creating competitive advantage

Managing organisations means marshalling resources to deliver value to those external to the organisation and from this creating competitive advantage.  There is no standard formula for this.  Much business competitive advantage is akin to a Ricardian opportunity cost story.  Competitive … Continue reading

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Essays on Management: Managing innovation

If we understand what innovation is, where it comes from, and the environment to support it, how can it be managed?  Managing innovation involves learning, envisaging, managing risk and fear, and implementing. As Alexander Pope said: A little learning is … Continue reading

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Essays on Management: What environment is needed for innovation now and in the future?

Innovation requires both a supportive wider environment in which a business can operate, and an encouraging environment for innovators within a business. Innovation can only flourish where there is a supportive legal, institutional, social and economic environment.  The laws and … Continue reading

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Essays on Management: What is innovation and where does it come from?

Innovation involves the creation of new products, processes, services or solutions that someone outside an organisation values.  Business renewal and continuous improvement is not innovation, though is a condition of staying in business. Research can be direct linear source of … Continue reading

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Essays on Management: Decision making

Management requires decision making and it is important to make clear how decisions are made so people can trust the processes used.  For example, it is demoralising when decisions such as managerial appointments are made without fair and open selection … Continue reading

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Essays on Management: Importance of non-market institutions

Organisations as diverse as government departments, hospitals, universities, public research laboratories and voluntary organisations describe themselves as businesses even while delivering non-market services.  It is a common error to confuse economics with business, and then apply business models and mind-sets … Continue reading

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Essays on Management: Frugality

Pay with silver, save with gold, defend yourself with steel. Cossack saying Individual and household wellbeing and business and economic performance involve managing scarce resources.  Therefore At the heart of good household, business and organisational management (and economy-wide productivity itself) … Continue reading

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