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innovational business 代寫core business

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  • This paper focuses on maintaining a counterpoise between innovational business unit and core business unit. Traditionally, top leaders consider it a trade-off especially when the macro economy comes to a hard time. Actually they view exploring new business a threat to preserve prior business. But the author takes his ground on several successful cases then provides a new method that CEOs can support promising new units even as old core units to make them promoting each other. Companies were expanded in the long term as a result of paradoxical management strategy. The article summarizes three principles out of these cases.
     
    Principle #1: develop an overarching identity. The key point of this principle is do not defining your firm’s business area narrowly. Successful companies often extend their products or service into the associated fields in order to keep superiority in the technology revolution. Technology change is a double-edged sword. Take good use of technology changes by reshaping core businesses can help the firm to thrive. And losing the chance certainly means stagnating, even a decreasing in sales. Overarching identify is the demand of embracing paradox. This principle makes it possible sparking new businesses without sacrificing old core business.
     
    Principle #2: hold tension at the top. This principle addresses importance of keeping the prospecting new business unit independent. Separate the new unit from the old core businesses can make sure that the specific funds for innovation will not be embezzled under profiting purpose. Generally, existing strategies tend to squeeze the resource of the sprouting ones. And the top leaders have scant experience balancing present interest and future interest. New business units being inlayed the old ones also bring about an absence of cooperation. It is necessary to guarantee that the innovational decisions are made by the senior team. This paper introduces two methods to achieve it.
     
    The first method is ‘Hub and Spoke’, which composed of an inner circle and an outer one. CEO or the top team is in the inner circle, surrounded by the individually business units. Each leader is responsible to one unit while all the business units are independent from each other. And in order to keep their decisions sensible, unit leaders always do not make decision alone.
     
    The second method is called ‘Ring-Team’. In this model, the top team is driven by the future prospects. They allot resources between innovational units and existing core units to reach their target. This method requires a higher level of teamwork, a more closely linked relationship within the team, and a leader who has considerable decision-making talent.
     
    Principle #3: embrace inconsistency. Innovational strategies may cause a company’s business area seems to be inconsistent, but it is significant for the company’s long-term development. Top leaders should adopt differentiated standard to measure the performance of the promising units and the core units. Senior teams should also pay attention to the different need of the new unit in different growth stage.
     
    Embracing paradox calls for a support in exploring new business as well as exploit existing core business. New business unit is significant to a company’s prosperity in the long run.

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