How strategists really think: tapping the power of analogy giovanni gavetti & jan w rivkin frank auton, senior lecturer in marketing at the university of westminster business school, provides brief summaries of a selection of the most useful and thoughtprovoking articles published recently in leading international business magazines and journals. Analogy can be used as one of the tools for increase inovvation that often result from transferring problem solutions from one industry or domain to another roojoom: an analogy is more of a logical argument that plays a significant role in problem solving and decision making. Power tends to corrupt and absolute power tends to corrupt absolutely is a famous statement of lord acton power can be defined as the ability to make choices or influence outcomes, which is also power held by a person or group of people in a society. To tap the power of analogical thinking, apply these steps: articulate the analogy in deciding to launch carmax, a chain of used-car outlets, successful electronics retailer circuit city drew an analogy between the electronics-retailing environment of the 1970s (its source setting) and the used-car industry of the 1990s (its target setting.
Analogies help us understand, organize and make sense of incoming information in fact, analogy is the foundation of learning from experience people with more experience have a richer store of analogies to draw from, which is what enables them to rapid right decisions without having to agonize over every detail. The essence of a particular animal, as it's uniquely conceived in each distinct culture, can be used as an instrument of analogy and meaning making this essence helps construct and describe social and personal identities and values, much like the inquiry about your own spirit animal.
There are increasing opportunities for work at the intersection of system dynamics and strategy to make important contributions to mainstream strategy thinking and practice. Finally, the unconscious mind comprises mental processes that are inaccessible to consciousness but that influence judgements, feelings, or behavior (wilson, 2002) according to freud (1915), the unconscious mind is the primary source of human behavior. Leaders tend to be so immersed in the specifics of strategy that they rarely stop to think how much of their reasoning is done by analogy as a result, they miss useful insights that psychologists and other scientists have generated about analogies' pitfalls. Tap here to turn on desktop notifications to get the news sent straight to you 10/08/2014 01:28 pm et updated dec 08, 2014 the power of story and metaphor it is a type of analogy by. With jw rivkin, how strategists really think: tapping the power of analogy, harvard business review, 83(4), april 2005 with d levinthal, the strategy field from the perspective of management science: divergent strands and possible integration, management science, 50, october 2004.
Tapping on the great power of analogy has proven to be a befitting and significant recourse utilized by a geographer in becoming a strategist and leader of the agency, in the absence of any. The research idea is to provide real example use cases or success stories from other companies and industries in a structured way so that the user of the catalogue can then transfer selected use. A 2005 harvard business review article, tapping the power of analogy, covered the idea of how strategists think with the power of analogy but although certain analogical reasoning can be remarkable, it can also be harmful if done poorly, say the authors giovanni gavetti and jan w rivkin. One year for christmas i decided to put up a larger than normal christmas light display in my front yard i bought all sorts of new items to place in my yard, including a metal deer covered in lights with a motor that made its head go up and down everything worked fine for a few days then it.
A good analogy is worth a thousand explanations a few other useful reads for those wishing to strengthen their analogy kung-fu: harvard business review: tapping the power of the analogy. A classic example, as pointed out by giovanni gavetti and jan w rivkin in a harvard business review article titled how strategists really think: tapping the power of analogy: the experience of enron shows how a seductive but bad analogy can lead to flawed decisions. C roland christensen professor of business administration senior associate dean, chair, mba program. The relational power of analogy lies in the fact that it shows that you really want your audience to understand an issue, and have gone out of your way to take time to ensure they have information they can absorb and act on.
In a harvard business review article how strategists really think: tapping the power of analogy, authors giovanni gavetti and jan w rivkin wrote that analogies are imperfect but useful the. Wwwhbrorg how strategists really think tappin g the power of analogy by giovanni gavetti and jan w rivkin much of the time, executives use analogies to make.
The water flow analogy is a way to explain the events that take place in a circuit by comparing the parts which make up each design to the components of a water pump this comparison makes circuits easier to understand and explain to others. Publication date: april 01, 2005 this is an enhanced edition of hbr article r0504c, originally published in april 2005 hbr onpoint articles include the full-text hbr article plus a summary of key. The best users of analogy harness managers who wish to tap the great power of analogy and sidestep its pitfalls must master multiple modes of thought the challenge is to get the most out of them.