IMD business school for management and leadership courses
Latest awards & honors
Article
Social Innovation
Stakeholder governance for responsible innovation: A theory of value creation, appropriation, and distribution
In the face of intractable societal grand challenges, organizations increasingly resort to responsible innovation – that is, they pledge to create value for multiple stakeholders through developing new products or services that avoid doing harm and improve conditions for people and the planet. While the link between responsible innovation and so…
Journal of Management Studies 2022 Best Paper Award
Stakeholder governance for responsible innovation: A theory of value creation, appropriation, and distribution
Summary
In the face of intractable societal grand challenges, organizations increasingly resort to responsible innovation – that is, they pledge to create value for multiple stakeholders through developing new products or services that avoid doing harm and improve conditions for people and the planet. While the link between responsible innovation and so…
Journal of Management Studies 2022 Best Paper Award
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Case Study
Sustainability
Diversity and Equity and Inclusion
OCP: Liberating energy to create sustainable growth
The case focuses on the transformation of OCP, a state-owned monopoly that mined and exploited Morocco’s phosphate reserves. By 2021 it had become an organization with a mission to contribute to the sustainability of food security as the custodians of 70% of the world’s phosphate reserves. Phosphate is one of three vital ingredients in fertilize…
The Case Hub at Suliman S. Olayan School of Business Annual Case Writing Competition – First Place
OCP: Liberating energy to create sustainable growth
Summary
The case focuses on the transformation of OCP, a state-owned monopoly that mined and exploited Morocco’s phosphate reserves. By 2021 it had become an organization with a mission to contribute to the sustainability of food security as the custodians of 70% of the world’s phosphate reserves. Phosphate is one of three vital ingredients in fertilize…
The Case Hub at Suliman S. Olayan School of Business Annual Case Writing Competition – First Place
Reference
IMD-7-2330
Copyright
©2022
Copyright owner
IMD Copyright
Organization
OCP Africa
Industry
Manufacturing, Chemicals
Available Languages
English
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Article
Family Business
Sustainability
Leadership
Women can help family firms innovate – but socioemotional factors matter
Around Europe and elsewhere, the number of women in leadership roles is going up, and they are having a measurable impact on innovation and profits. Many researchers have found that having more women in top management, such as boards of directors, can increase innovation. Women can offer different perspectives than men and contribute to top mana…
2023 Schulze Publication Award
Women can help family firms innovate – but socioemotional factors matter
Summary
Around Europe and elsewhere, the number of women in leadership roles is going up, and they are having a measurable impact on innovation and profits. Many researchers have found that having more women in top management, such as boards of directors, can increase innovation. Women can offer different perspectives than men and contribute to top mana…
2023 Schulze Publication Award
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Article
Family Business
Strategy
Using family history for competitive advantage
Family businesses often have dense histories interweaving both the family and the business and involving more than just the past. Our recent study (Ge, De Massis & Kotlar, 2022), shows that family businesses, even new ones where past generations are not involved, can use the family’s past to create competitive advantages in the present. The key …
2023 Schulze Publication Award
Using family history for competitive advantage
Summary
Family businesses often have dense histories interweaving both the family and the business and involving more than just the past. Our recent study (Ge, De Massis & Kotlar, 2022), shows that family businesses, even new ones where past generations are not involved, can use the family’s past to create competitive advantages in the present. The key …
2023 Schulze Publication Award
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Article
Family Business
Generations in family business: A multifield review and future research agenda
The concept of generations has become increasingly important in the social science fields to explain diverse phenomena affecting organizations. This is especially true in the family business field where generations are considered a constitutive element. Nevertheless, there is still a limited understanding of generations and the implications of t…
Honorable mention for the 2023 Family Business Review Best Article Award
Generations in family business: A multifield review and future research agenda
Summary
The concept of generations has become increasingly important in the social science fields to explain diverse phenomena affecting organizations. This is especially true in the family business field where generations are considered a constitutive element. Nevertheless, there is still a limited understanding of generations and the implications of t…
Honorable mention for the 2023 Family Business Review Best Article Award
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Report
Organizational Learning
Organizational Transformation
The LEGO Group & IMD: Building the leadership playground
In 2017, the LEGO Group’s sales had stalled after more than a decade of strong growth. The challenging external retail environment was expected to continue. Internally there was stagnation stemming from a weakened innovation drive and lack
of focused delivery. Something had to change: The 90-year-old family-owned business needed to empower its …
EFMD Excellence in Practice 2023 Gold Award
The LEGO Group & IMD: Building the leadership playground
Summary
In 2017, the LEGO Group’s sales had stalled after more than a decade of strong growth. The challenging external retail environment was expected to continue. Internally there was stagnation stemming from a weakened innovation drive and lack
of focused delivery. Something had to change: The 90-year-old family-owned business needed to empower its …
EFMD Excellence in Practice 2023 Gold Award
Copyright
©2023
Copyright owner
IMD Copyright
Available Languages
English
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Academic publications
Article
Finance
Pricing
Existence of the wealth-consumption ratio in asset pricing models with recursive preferences
Modern asset pricing models combine recursive preferences with complex dynamics for the underlying consumption process. The existence of solutions is for many of these models an unsettled question. This paper introduces a novel technique to prove existence and nonexistence, as well as uniqueness for models with recursive preferences. The approac…
Existence of the wealth-consumption ratio in asset pricing models with recursive preferences
Summary
Modern asset pricing models combine recursive preferences with complex dynamics for the underlying consumption process. The existence of solutions is for many of these models an unsettled question. This paper introduces a novel technique to prove existence and nonexistence, as well as uniqueness for models with recursive preferences. The approac…
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Article
Performance Measurement
Family Business
Organizational goals, outcomes, and the assessment of performance: Reconceptualizing success in management studies
We revisit the study of organizational goals, outcomes, and assessment of performance that together define the process leading to ‘success’. We begin by conducting a systematic review of existing research which allows us to develop an integrative framework discussing this large body of work. We then describe contemporary research examples in lig…
Organizational goals, outcomes, and the assessment of performance: Reconceptualizing success in management studies
Summary
We revisit the study of organizational goals, outcomes, and assessment of performance that together define the process leading to ‘success’. We begin by conducting a systematic review of existing research which allows us to develop an integrative framework discussing this large body of work. We then describe contemporary research examples in lig…
Contact
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Article
Family Business
Board
From family director pathos to board ethos: Managing multiple role identity struggles in the boardroom of family firms
The literature indicates that the board of directors exists to provide resources and strategic direction (service task) and monitor top managers (control task), often tending to overgeneralize board tasks. Using a unique sample of 36 elite family firm directors having served on 615 boards with an aggregate 1447 years’ experience, and integrating…
From family director pathos to board ethos: Managing multiple role identity struggles in the boardroom of family firms
Summary
The literature indicates that the board of directors exists to provide resources and strategic direction (service task) and monitor top managers (control task), often tending to overgeneralize board tasks. Using a unique sample of 36 elite family firm directors having served on 615 boards with an aggregate 1447 years’ experience, and integrating…
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Article
Family Business
Global Business
Fight or flight? Understanding family firm internationalization when the rules of the game change
Building on the mixed gamble perspective, we examine family versus nonfamily firms’ propensity to increase or decrease their internationalization in response to different sources of risk. Our framework explains how a firm’s mixed gamble calculus of internationalization can change as it adjusts to business, industry, and institutional circumstanc…
Fight or flight? Understanding family firm internationalization when the rules of the game change
Summary
Building on the mixed gamble perspective, we examine family versus nonfamily firms’ propensity to increase or decrease their internationalization in response to different sources of risk. Our framework explains how a firm’s mixed gamble calculus of internationalization can change as it adjusts to business, industry, and institutional circumstanc…
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Article
Digital
Technology Management
“So what if ChatGPT wrote it?”: Multidisciplinary perspectives on opportunities, challenges and implications of generative conversational AI for research, practice and policy
Transformative artificially intelligent tools, such as ChatGPT, designed to generate sophisticated text indistinguishable from that produced by a human, are applicable across a wide range of contexts. The technology presents opportunities as well as, often ethical and legal, challenges, and has the potential for both positive and negative impact…
“So what if ChatGPT wrote it?”: Multidisciplinary perspectives on opportunities, challenges and implications of generative conversational AI for research, practice and policy
Summary
Transformative artificially intelligent tools, such as ChatGPT, designed to generate sophisticated text indistinguishable from that produced by a human, are applicable across a wide range of contexts. The technology presents opportunities as well as, often ethical and legal, challenges, and has the potential for both positive and negative impact…
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Article
Emotion Management
Family Business
Emotions in the strategic management of family business organizations: Opening up the black box
Emotions play a crucial role in the strategic management of family business organizations (FBOs). Yet, they are commonly treated as a black box, and we have a limited understanding of their antecedents, and the processes and mechanisms through which they develop and unfold in FBOs, ultimately leading to strategic outcomes. This paper opens the b…
Emotions in the strategic management of family business organizations: Opening up the black box
Summary
Emotions play a crucial role in the strategic management of family business organizations (FBOs). Yet, they are commonly treated as a black box, and we have a limited understanding of their antecedents, and the processes and mechanisms through which they develop and unfold in FBOs, ultimately leading to strategic outcomes. This paper opens the b…
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Case studies
Case Study
Leadership
General Management
Human Resources
Organizational Behavior
Understanding the impact of schemas, triggers and modes on your leadership
This note introduces the Schema-Trigger-Mode model as a tool to help leaders identify ingrained thought patterns, triggers and coping modes, thus fostering self-awareness and emotional regulation. The model, derived from Schema Therapy, explains the relationships between deeply ingrained thought patterns (schemas), activating situations (trigger…
Understanding the impact of schemas, triggers and modes on your leadership
Summary
This note introduces the Schema-Trigger-Mode model as a tool to help leaders identify ingrained thought patterns, triggers and coping modes, thus fostering self-awareness and emotional regulation. The model, derived from Schema Therapy, explains the relationships between deeply ingrained thought patterns (schemas), activating situations (trigger…
Reference
IMD-7-2475
Copyright
©2023
Copyright owner
IMD Copyright
Available Languages
English
Contact
Research Information & Knowledge Hub for additional information on IMD publications
Case Study
Entrepreneurship
Business to Business
Disruption
Sustainability
Strategy
Green Motion: From entrepreneurial pioneer to multinational powerhouse
Entrepreneur François Randin was successful, but searching for his next venture, wanting to build something sustainable. Suddenly he sees an all-electric sports car and decides to create an electric vehicle (EV) charging station company, even though the number of EVs on the road at the time is minuscule. He starts with software, moves to hardwar…
Green Motion: From entrepreneurial pioneer to multinational powerhouse
Summary
Entrepreneur François Randin was successful, but searching for his next venture, wanting to build something sustainable. Suddenly he sees an all-electric sports car and decides to create an electric vehicle (EV) charging station company, even though the number of EVs on the road at the time is minuscule. He starts with software, moves to hardwar…
Reference
IMD-7-2456
Copyright
©2023
Copyright owner
IMD Copyright
Organization
Green Motion
Industry
Energy;Automotive, Automobiles
Available Languages
English
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Case Study
Marketing
General Management
Rituals Cosmetics: Building the world’s leading well-being brand in Asia
Rituals, founded in the Netherlands in 2000 by Raymond Cloosterman, has had double digit growth over the last 15 years. It had taken the European beauty industry by storm, opening two to three stores weekly. At its current pace, Rituals would soon be opening over 150 new shops per year and expanding to new markets on an annual basis. In addition…
Rituals Cosmetics: Building the world’s leading well-being brand in Asia
Summary
Rituals, founded in the Netherlands in 2000 by Raymond Cloosterman, has had double digit growth over the last 15 years. It had taken the European beauty industry by storm, opening two to three stores weekly. At its current pace, Rituals would soon be opening over 150 new shops per year and expanding to new markets on an annual basis. In addition…
Reference
IMD-7-2411
Copyright
©2023
Copyright owner
IMD Copyright
Organization
Rituals Cosmetics
Industry
Consumer Goods, Cosmetics and Perfumes
Available Languages
English
Contact
Research Information & Knowledge Hub for additional information on IMD publications
Case Study
Family Business
Strategy
General Management
Raya Holding: What is the holding really holding?
On 7 October 2020, the employees of Raya, an Egyptian holding company, received an email that sent shockwaves across the entire firm. The board had just announced that Medhat Khalil, Raya’s co-founder, primary shareholder and long-serving CEO, would be stepping down after 21 years, leaving the position to his son Ahmed Khalil, who was just under…
Raya Holding: What is the holding really holding?
Summary
On 7 October 2020, the employees of Raya, an Egyptian holding company, received an email that sent shockwaves across the entire firm. The board had just announced that Medhat Khalil, Raya’s co-founder, primary shareholder and long-serving CEO, would be stepping down after 21 years, leaving the position to his son Ahmed Khalil, who was just under…
Reference
IMD-7-2390
Copyright
©2023
Copyright owner
IMD Copyright
Organization
Raya Holding
Industry
Finance and Insurance, Financial Services;Information Technology;Food Production;Consumer Goods, Home Appliances
Available Languages
English
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Case Study
Sustainability
Operations
Trendy fashion company: Sustainability in supply chain operations
The newly appointed Senior Vice President of Trendy needs to put its supply chain on a more sustainable footing for the future. Trendy is an imaginary fast fashion company with a market base in Europe and a global supply chain. Core themes and actions that improve both sustainability targets and/or operational performance are discussed in the ca…
Trendy fashion company: Sustainability in supply chain operations
Summary
The newly appointed Senior Vice President of Trendy needs to put its supply chain on a more sustainable footing for the future. Trendy is an imaginary fast fashion company with a market base in Europe and a global supply chain. Core themes and actions that improve both sustainability targets and/or operational performance are discussed in the ca…
Reference
IMD-7-2481
Copyright
©2023
Copyright owner
IMD Copyright
Organization
Trendy (fictional)
Industry
Consumer Goods, Apparel and Fashion
Available Languages
English
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Case Study
Entrepreneurship
Business to Business
Disruption
Economics
Leadership
Kandou Bus, From start-up to IPO? (B): The Scale-Up
Dr Amin Shokrollahi, a mathematician who loves research, becomes an entrepreneur by accident. He discovers a software solution to decelerate Moore’s Law, and his friend, entrepreneur Steve Papa, pushes him to create a company and bring the solution to market. For five years they “wander in the woods” building the team, raising money, developing …
Kandou Bus, From start-up to IPO? (B): The Scale-Up
Summary
Dr Amin Shokrollahi, a mathematician who loves research, becomes an entrepreneur by accident. He discovers a software solution to decelerate Moore’s Law, and his friend, entrepreneur Steve Papa, pushes him to create a company and bring the solution to market. For five years they “wander in the woods” building the team, raising money, developing …
Reference
IMD-7-2467
Copyright
©2023
Copyright owner
IMD Copyright
Organization
Kandou Bus
Industry
Materials, Semiconductors;Information Technology, Computer Services;Manufacturing, Electric and Electronic Equipment
Available Languages
English
Contact
Research Information & Knowledge Hub for additional information on IMD publications
Knowledge Hub – I by IMD
Article
Strategy
Entrepreneurship
Social Innovation
Think local, act local
Civic wealth can be created through entrepreneurship, bringing together a variety of stakeholders and getting buy-in from communities.
Think local, act local
Summary
Civic wealth can be created through entrepreneurship, bringing together a variety of stakeholders and getting buy-in from communities.
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Article
Competitiveness
Decision Making
How can we make decision-making more future-oriented?
Greater cross-generational dialogue can help make sure that decisions taken today don’t compromise the wellbeing of future generations.
How can we make decision-making more future-oriented?
Summary
Greater cross-generational dialogue can help make sure that decisions taken today don’t compromise the wellbeing of future generations.
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Article
Technology Management
Sustainability
How blockchain can clean up the voluntary carbon market
In the second in a series of articles looking at the carbon market, the authors explore how the use of blockchain technology could not only keep the voluntary carbon market honest and transparent, but it could also allow new products to evolve.
How blockchain can clean up the voluntary carbon market
Summary
In the second in a series of articles looking at the carbon market, the authors explore how the use of blockchain technology could not only keep the voluntary carbon market honest and transparent, but it could also allow new products to evolve.
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Article
Strategy
Innovation
Technology Management
Harnessing the metaverse: No strategy? No problem!
CEOs are faced by a myriad of technologies, definitions, and ideas about what the metaverse is, and what it could become. Rather than committing too early, the right strategy could be to have no metaverse strategy.
Harnessing the metaverse: No strategy? No problem!
Summary
CEOs are faced by a myriad of technologies, definitions, and ideas about what the metaverse is, and what it could become. Rather than committing too early, the right strategy could be to have no metaverse strategy.
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Article
Strategy
Marketing
Customer Centricity
In search of a bag with a tag – and more
Frédéric Dalsace of IMD explains how to reassess your products and services in terms of their “action generators” – the extent to which they convince the customer to buy.
In search of a bag with a tag – and more
Summary
Frédéric Dalsace of IMD explains how to reassess your products and services in terms of their “action generators” – the extent to which they convince the customer to buy.
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Article
Human Resources
Psychology
Reshaping the workspace: How to design your own optimal environment
The space you work in can help you feel more at ease, more in flow, and more yourself – or it can get in the way of everything, including your productivity
Reshaping the workspace: How to design your own optimal environment
Summary
The space you work in can help you feel more at ease, more in flow, and more yourself – or it can get in the way of everything, including your productivity
Contact
Research Information & Knowledge Hub for additional information on IMD publications
Insights for practitioners
Article
Strategy
Entrepreneurship
Social Innovation
Think local, act local
Civic wealth can be created through entrepreneurship, bringing together a variety of stakeholders and getting buy-in from communities.
Think local, act local
Summary
Civic wealth can be created through entrepreneurship, bringing together a variety of stakeholders and getting buy-in from communities.
Contact
Research Information & Knowledge Hub for additional information on IMD publications
Article
Competitiveness
Decision Making
How can we make decision-making more future-oriented?
Greater cross-generational dialogue can help make sure that decisions taken today don’t compromise the wellbeing of future generations.
How can we make decision-making more future-oriented?
Summary
Greater cross-generational dialogue can help make sure that decisions taken today don’t compromise the wellbeing of future generations.
Contact
Research Information & Knowledge Hub for additional information on IMD publications
Article
Technology Management
Sustainability
How blockchain can clean up the voluntary carbon market
In the second in a series of articles looking at the carbon market, the authors explore how the use of blockchain technology could not only keep the voluntary carbon market honest and transparent, but it could also allow new products to evolve.
How blockchain can clean up the voluntary carbon market
Summary
In the second in a series of articles looking at the carbon market, the authors explore how the use of blockchain technology could not only keep the voluntary carbon market honest and transparent, but it could also allow new products to evolve.
Contact
Research Information & Knowledge Hub for additional information on IMD publications
Article
Strategy
Innovation
Technology Management
Harnessing the metaverse: No strategy? No problem!
CEOs are faced by a myriad of technologies, definitions, and ideas about what the metaverse is, and what it could become. Rather than committing too early, the right strategy could be to have no metaverse strategy.
Harnessing the metaverse: No strategy? No problem!
Summary
CEOs are faced by a myriad of technologies, definitions, and ideas about what the metaverse is, and what it could become. Rather than committing too early, the right strategy could be to have no metaverse strategy.
Contact
Research Information & Knowledge Hub for additional information on IMD publications
Article
Strategy
Marketing
Customer Centricity
In search of a bag with a tag – and more
Frédéric Dalsace of IMD explains how to reassess your products and services in terms of their “action generators” – the extent to which they convince the customer to buy.
In search of a bag with a tag – and more
Summary
Frédéric Dalsace of IMD explains how to reassess your products and services in terms of their “action generators” – the extent to which they convince the customer to buy.
Contact
Research Information & Knowledge Hub for additional information on IMD publications
Article
Human Resources
Psychology
Reshaping the workspace: How to design your own optimal environment
The space you work in can help you feel more at ease, more in flow, and more yourself – or it can get in the way of everything, including your productivity
Reshaping the workspace: How to design your own optimal environment
Summary
The space you work in can help you feel more at ease, more in flow, and more yourself – or it can get in the way of everything, including your productivity
Contact
Research Information & Knowledge Hub for additional information on IMD publications
Books
Book
Organizational Behavior
Change Management
Psychology
Changing employee behavior: How to drive performance by bringing out the best in people (2nd edition)
An important part of every manager’s job is changing people’s behavior: improving someone’s performance, helping them better manage relationships with colleagues, or sometimes even stopping them doing something. Yet, despite the fact that changing people’s behavior is such a fundamental skill for managers, there is little in the way of systemati…
Changing employee behavior: How to drive performance by bringing out the best in people (2nd edition)
Summary
An important part of every manager’s job is changing people’s behavior: improving someone’s performance, helping them better manage relationships with colleagues, or sometimes even stopping them doing something. Yet, despite the fact that changing people’s behavior is such a fundamental skill for managers, there is little in the way of systemati…
Copyright
©2023
Copyright owner
External Copyright
Available Languages
English
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Book
Competitiveness
Economics
Data Analytics
IMD World Competitiveness Yearbook: 2023
Now in its 35th year, the IMD World Competitiveness Yearbook continues to serve as a beacon for governments, businesses, and individuals as they seek to navigate the complex landscape of global competitiveness. Our annual assessment sheds light on the key factors that drive and shape the comparative data, providing valuable insights and benchmar…
IMD World Competitiveness Yearbook: 2023
Summary
Now in its 35th year, the IMD World Competitiveness Yearbook continues to serve as a beacon for governments, businesses, and individuals as they seek to navigate the complex landscape of global competitiveness. Our annual assessment sheds light on the key factors that drive and shape the comparative data, providing valuable insights and benchmar…
Copyright
©2023
Copyright owner
IMD Copyright
Available Languages
English
Contact
Research Information & Knowledge Hub for additional information on IMD publications
Book
Competitiveness
Strategy
Digital
The future of competitive strategy: Unleashing the power of data and digital ecosystems
How can legacy firms remain relevant in the digital era? In The Future of Competitive Strategy, strategic management expert Mohan Subramaniam explains how firms can leverage both their traditional strengths and the modern-day power of data and digital ecosystems to forge a new competitive strategy. Drawing on the experiences of a range of compan…
The future of competitive strategy: Unleashing the power of data and digital ecosystems
Summary
How can legacy firms remain relevant in the digital era? In The Future of Competitive Strategy, strategic management expert Mohan Subramaniam explains how firms can leverage both their traditional strengths and the modern-day power of data and digital ecosystems to forge a new competitive strategy. Drawing on the experiences of a range of compan…
Copyright
©2022
Copyright owner
IMD Copyright
Available Languages
English
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Book
Communication
Clean language interviewing: Principles and applications for researchers and practitioners
Combining academic rigour with real application examples, a global range of contributors analyse the use of Clean Language Interviewing in multiple settings including business, education, and healthcare.
Clean language interviewing: Principles and applications for researchers and practitioners
Summary
Combining academic rigour with real application examples, a global range of contributors analyse the use of Clean Language Interviewing in multiple settings including business, education, and healthcare.
Copyright
©2022
Copyright owner
External Copyright
Available Languages
English
Contact
Research Information & Knowledge Hub for additional information on IMD publications
Book
Economics
Competitiveness
Leadership
The future is young: How technology, talent and innovation can help us face the most pressing challenges of our time
Amid this fast and disorienting pace of change, many are instinctively looking to political leaders and world-renowned experts for answers. As a result, important conversations that should be going on have been conspicuous by their absence. In particular, these are conversations that should involve young people. If new paradigms are emerging tha…
The future is young: How technology, talent and innovation can help us face the most pressing challenges of our time
Summary
Amid this fast and disorienting pace of change, many are instinctively looking to political leaders and world-renowned experts for answers. As a result, important conversations that should be going on have been conspicuous by their absence. In particular, these are conversations that should involve young people. If new paradigms are emerging tha…
Copyright
©2022
Copyright owner
IMD Copyright
Available Languages
English
Contact
Research Information & Knowledge Hub for additional information on IMD publications
Book
Decision Making
Solvable: A simple solution to complex problems
Problem solving skills are in high demand, yet we’re not taught how to develop and apply these skills appropriately. Solvable offers a simple solution with a 3-step process—Frame, Explore, Decide—and concrete tools that you can use to become a better problem solver and successfully engage relevant people, whatever the challenge you face.
Solvable: A simple solution to complex problems
Summary
Problem solving skills are in high demand, yet we’re not taught how to develop and apply these skills appropriately. Solvable offers a simple solution with a 3-step process—Frame, Explore, Decide—and concrete tools that you can use to become a better problem solver and successfully engage relevant people, whatever the challenge you face.
Copyright
©2022
Copyright owner
External Copyright
Available Languages
English
Contact
Research Information & Knowledge Hub for additional information on IMD publications