Developing Your Intuition: A Guide to Reflective Practice by Talula Cartwright

By Talula Cartwright

Leaders frequently need to make judgements with out whole info, and people judgements are anticipated to be not just correct but additionally well timed. utilizing reflective suggestions might help learn how to rely on your instinct for assist in making strong judgements quick. Reflective practices could seem time-consuming firstly, however the time you install at the entrance finish is easily definitely worth the funding. it's going to pay you again either in time and within the caliber of the selections you are making.

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David J. Collis and Cynthia A. Montgomery, writing in Harvard Business Review in July/August 1995 under the title ‘‘Competing on Resources: Strategy in the 1990s,’’ put forward five tests to determine the value of a resource. » Inimitability. Is the resource hard to copy? This is the heart of value creation because it limits competition. It can take several forms: Physical uniqueness: many managers believe that their resources fall into this category, but on close inspection few actually do. Path dependency: all that has happened along the path taken in resource accumulation (including brand building).

With the proximity that clusters provide, companies can do things together without formal ownership or legal relationships. ’’ So, it seems, even in an age of globalization, local economic circumstances still matter. Although clusters are most common in the advanced economies, they are also one of the essential steps for countries aiming to move in that direction. And how are clusters nurtured in emerging nations? In Costa Rica, for instance, with a long history of investing in education, a cluster in information technology began to develop a number of years ago.

This strategic lens stresses adaptability, flexibility and speed of change, rather than static positioning and long-term competitive advantage. It is not just ‘‘running faster’’ but ‘‘thinking faster’’ that matters. Prahalad and Ramaswamy talk of the need to prepare the organization for the emerging multi-channel world which will place a high premium on organizational flexibility: ‘‘In fact, no part of the company – a single salesperson or an entire business unit – will be able to assume that its role in the organization is stable.

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