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Achieving Longevity: How Great Firms Prosper Through by Jim Dewald, W. Brett Wilson

By Jim Dewald, W. Brett Wilson

Starting a company is tough, yet retaining a longtime corporation going will be both not easy. ultimately, each company might want to adapt to altering marketplace stipulations, applied sciences, and aggressive environments. Achieving Longevity explains the way to deal with these adjustments via entrepreneurial thinking.

As Jim Dewald exhibits, the main winning businesses thrive by means of constructing decision-making tactics that continually interact new possibilities, allowing the company to fast adapt to disruptive applied sciences and company types. they permit for tinkering and experimentation and try to either make the most their aggressive virtue this present day and discover new principles that may provide them an part tomorrow.

Achieving Longevity offers a framework for introducing the instruments and tradition essential to foster entrepreneurial pondering, in addition to recommendation on tips on how to triumph over universal stumbling blocks to company entrepreneurship. Drawing on Dr. Dewald’s personal adventure as an entrepreneur, a winning company govt, and a professor of process, the e-book deals a variety of examples of ways to mix the strengths of a longtime company with the cutting edge, open air the field contemplating a start-up venture.

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Example text

The new assumption is that individual characteristics of the CEO and/or TMT matter – they really matter. Scholars of strategic planning and strategic management theory have lagged in fully appreciating all of the factors that make great firms. They have looked past the individuals in an effort to systematize the formulation and implementation of the firm’s strategy. Noteworthy here is Jim Collins’s shocking revelation in what has become the best-selling business book of all time, Good to Great.

27 Li gh tb ul b In El ve ec nt tri ed c D is tri H om bu tio e H n ea t i A ng pp lia nc es En te rt ai nm en C om t fo rt Ite m Se s cu rit y, et c. 2 Spin-off innovations from the invention of the lightbulb from invention through to democratization can take years or decades; democratization then establishes a new paradigm that can span decades or centuries. As a stark example, consider that we are still actively exploiting new uses for the wheel (recall Taleb’s earlier comment about wheeled luggage).

Technology is changing quickly, but consider also the myriad other factors that are affecting the business environment at lightning speed: demographic change (including population growth), mobility, trade, economic development in emerging economies, environmental stresses, human rights challenges, ideological strife, terrorism, weapons of mass destruction, and so on. 3 Faced with dynamic environments, firms need to be nimble just to survive. In a dynamic environment, firms must be innovative and entrepreneurial for longterm survival.

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