Why have the ideas of strategy expert Michael Porter stood the test of time?
Twenty-five years ago, Harvard Business School professor Michael Porter first came to IESE to deliver a session on international competitiveness, a subject on which he is an authority. For more than three decades, Porter's books have shaped the way we think about business strategy. In a field prone to passing fads, his ideas have staying power.
Antonio Valero's vision of business policy is as relevant today as when he published his book on the subject 25 years ago.
Calleja, Luis Manuel
As the world rethinks the role of management and the social responsibilities of business in the wake of the global financial crisis, a rediscovery of Antonio Valero's ideas might help light the way.
Schumpeter had much more to say beyond the concept of "creative destruction" for which he is famous.
Schumpeter deserves to be read again in light of contemporary debates on two topics: "Can socialism work?" and the effects of "the capitalist process" on middle-class families, a subject on which much ink continues to be spilt today.
If not for the contributions of Marvin Minsky, inventions like GPS and Siri might not exist today.
Valor Sabatier, Josep
Marvin Minsky -- considered the father of artificial intelligence, who died in January 2016 -- devoted much of his life to understanding how a machine could acquire the same everyday learning as a human.
Albert O. Hirschman resisted the quest for perfect knowledge. Instead he embraced uncertainty and focused on the possible.
As political and corporate leaders grapple with complex competitive environments and grand challenges like climate change and global poverty, social scientists and management scholars are struggling to offer convincing solutions. In rethinking these issues myself, I rediscovered the work of Albert O. Hirschman, whose fascinating ideas remain relevant to today's challenges.
It would be hard to understand basic economic concepts without the groundbreaking contributions of John Nash.
Ricart, Joan Enric
The late John Nash's intellectual framework for understanding non-cooperative games enriches our perspective, enabling us to grasp the competitive dynamics involving various agents, and make rational choices. This lies at the heart of strategic management, with implications for all functional areas of a company.
Theodore Levitt's classic advice on marketing is worth revisiting in this age of product-focused customization.
The fundamental question famously posed by Levitt remains as relevant as ever: "What business are you in?" How you answer that question reveals much about your true orientation: "producing products" or "providing customer-creating value satisfactions"?
W. Edwards Deming's ideas on quality control put learning, self-improvement and worker pride at the center of management where they belong
"Learning is not compulsory ... neither is survival." William Edwards Deming (1900-1993), the American statistician who advanced the concept of total quality management, was famously direct and to the point. As evidenced by his highly influential role in the late 20th century boom of Japanese products and in the resurgence of the U.S. car industry in the 1980s, learning is essential to long-term survival.
Information asymmetry is the challenge for regulators in oligopolistic markets, insists the 2014 Nobel laureate in economics
We need economists like Jean Tirole, winner of the 2014 Nobel Memorial Prize in Economic Sciences. Tirole is an expert in microeconomics whose research is centered on regulatory shortcomings and market failures -- a man for our times.
The work of Ronald Coase (1910-2013) reminds us why companies exist in the marketplace
Rosanas, Josep Maria
"Ronald Coase was the greatest of the many great University of Chicago economists." So declared a Forbes article published in homage to this British economist. Prolific until the end of his life, at nearly 103, what made Ronald Coase deserving of such a headline? As Coase often said about economics, the answer is quite simple.