IMD - The Global Meeting Place for Executive Learning

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	Dear reader, First time off campus Driving Strategic Innovation (DSI), run by IMD and MIT Sloan, will take place in Singapore February 8-13 2009. Participants will take part in wide ranging and challenging discussions, specially designed simulations, intensive group projects and live case studies. Your opinion counts Please continue to give us your feedback: what you like, what you don't. Let us know what more we can do to make the website and Webletter even more valuable and relevant to you. Kind regards, IMD Webletter Team

GLOBALIZATION

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	The collapse of the Doha Round
	What does it mean for business?

GOVERNANCE

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	An unpopular corporate culture
	Do not destroy your best strategy

	Bitter-sweet joint venture relationships
	Lessons in doing business with China

INNOVATION

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	How expertise shapes decision making
	Entrepreneurs versus corporate managers

	What is the next big innovation in innovation?
	The secret just might be out!

GROWTH

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	The quest – long-term profitable growth
	The answer – renew, exploit, explore

CHANGE

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	Marketing at the crossroads
	A function in need of change

	Pharma’s future challenge
	New rules, please

RESEARCH THEMES

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Who gets the rewards? Promote value creation by rewarding the right stakeholders
By Professor Paul Strebel and Research Associate Hongze Lu
Too often, we boost short-term earnings, rather than distribute rewards to those whose support is critical for long-term value creation. This article focuses on “growth-critical” stakeholders, whose input and/or resources are essential for creating additional long-term economic value.

Mindfulness
By Professor Ben Bryant and Research
Associate Jeanny Wildi
The world is a complex place and this complexity appears to be increasing – and with it our insecurity. In the wake of these overwhelming demands emerges an organizational culture of fear. We become anxious about our own competence, afraid of making mistakes and incurring the judgment of others.