TIME,ANHERMÈSOBJECT.HERMÈSH08THETEXTUREOFTIMEHBR.ORGJuly–August2021Youcanimproveyourabilitytoadapt62Change?41AI-PoweredMarketing82WhyStrategiesFail102SPACs:WhatYouNeedtoKnowwww.smeg.comEquityisanoutcomeNotastrategyoraninitiative—butbusinesscanleadtheway.Thatmeanstakingboldactionnowtochallengeoldpatternsofbehavior,dismantleoppressivesystems,andbuildanew,equitablefuture.Readourperspective,Theequityimperative,atwww.deloitte.com/us/equity-imperativeCopyright©2021DeloitteDevelopmentLLC.Allrightsreserved.41SpotlightAI-PoweredMarketing42MARKETINGHowtoDesignanAIMarketingStrategyWhatthetechnologycandotoday—andwhat’snextThomasH.Davenport,AbhijitGuha,andDhruvGrewal48MARKETINGWhyYouAren’tGettingMorefromYourMarketingAIChancesare,youhaven’taskedtherightquestions.EvaAscarza,MichaelRoss,andBruceG.S.Hardie54MARKETINGDon’tBuytheWrongMarketingTechInstead,takethesethreesteps.CarlF.MelaandBrianCooper“Ofallacompany’sfunctions,marketinghasperhapsthemosttogainfromartificialintelligence.”“HOWTODESIGNANAIMARKETINGSTRATEGY,”PAGE42IllustrationbyGIULIOBONASERACOVERPHOTOGRAPHBrucePetersonSTYLISTLauraNeroHarvardBusinessReviewJuly–August20215ContentsJuly–August2021July–August2021102ENTREPRENEURIALFINANCESPACs:WhatYouNeedtoKnowAguideforthecuriousandtheperplexedMaxH.BazermanandPareshPatel114BOARDSEngagingwithYourInvestorsAplaybookfortheboardBillMcNabb,RamCharan,andDennisCarey124ETHICSEntrepreneursandtheTruthTheyoftenbendit.Butdon’tdemonizethem—theproblemissystemic.KyleJensen,TomByers,LauraDunham,andJonFjeld132LEADERSHIP“I’mHereBecauseI’mAsGoodAsYou”TheHBRInterviewwithUrsulaBurns61Features62CHANGEMANAGEMENTHowGoodIsYourCompanyatChange?Anewsystemformeasuring(andimproving)yourabilitytoadaptDavidMichelsandKevinMurphy72SUSTAINABILITYTheCircularBusinessModelPickastrategythatfitsyourresourcesandcapabilities.AtalayAtasu,CélineDumas,andLukN.VanWassenhove82STRATEGYWhyDoSoManyStrategiesFail?Leadersfocusonthepartsratherthanthewhole.DavidJ.Collis94INNOVATIONThePowerofAnomalyToachieves...
