Harvard Business Review - 2021.05,06.pdf

Doing Hybr d RightHo w t o m a n a ge t h e n ew r ea lit y o f w o r k6641 Un der st a n din g Ch in a 88 Ho w t o Elimin a t e St r a t egic Over lo a d 145 Sa vvy Self-Pr o mo t io nHBR.ORG Ma yJun 41SpotlightUnderst andi ng Chi na42 GLOBALIZATIONWhat t he West Get s Wrong About Chi naTh r e e fun dame n t al misc on c e pt ion s Ra n a Mi t t e r a n d E l sbe t h J o hn so n49GLOBALIZATIONThe St rat egi c Challenges of Decoupli ngNavigat in g your c ompan ys fut ur e in Ch in a J.St e wa r t Bl a ck a n d Al l e n J.Mo r r i so n55GLOBALIZATIONChi nas New Innovat i on Advant ageCh in a is ac h ie vin g a n e w le ve l of global c ompe t it ive-n e ss,t h an ks t o it s h ype r-adapt ive populat ion.Za k Dycht wa l d61GLOBALIZATION“Ameri cans Dont Know How Capi t ali st Chi na Is”An in t e r vie w wit h PAG CEO We ijian Sh anIl l u s trati on b y YUKAI DUCOVER ILLUSTRATION Michael Brandon MyersContentsMayJune 2021“Chi na has defi ed predi ct i ons t hat i t s aut hori t ari ani sm would i nhi bi t i t s capaci t y t o i nnovat e.”“WHAT THE WEST GETS WRONG ABOUT CHINA,”PAGE 42Ha r va r d Busin ess ReviewMayJu ne 20217108COMPETITIONDont Let Plat forms Commodi t i ze Your Busi nessHow t o make t h e m wor k for your br an dAn d r e w Ha gi u a n d J ul i a n Wr i ght116TECHNOLOGYGet t i ng AI t o ScaleDon t c h an ge e ve r yt h in g at on c e,but do be gin wit h some t h in g impor t an t.Ti m Fo un t a i n e,Br i a n McCa r t hy,a n d Ta mi m Sa l e h12 4DIVERSITYHow t o Close t he Gender GapYou h ave t o be syst e mat ic.Co l l e e n Amme r ma n a n d Bo r i s Gr o ysbe r g134SUSTAINABILITYOverselli ng Sust ai nabi li t y Report i ngWe r e c on fusin g out put wit h impac t.Ke n n e t h P.Pucke r65Features66MANAGING PEOPLEHow t o Do Hybri d Ri ghtWh e n de sign in g fle xible wor k ar r an ge me n t s,foc us on in dividual h uman c on c e r n s,n ot just in st it ut ion al on e s.Lyn d a Gr a t t o n76ENTREPRENEURSHIPWhy St art-ups Fai lIt s n ot always t h e h or se or t h e joc ke y.To m E i se n ma n n88STRATEGYEli mi nat e St rat egi c OverloadHow t o se le c t fe we r in it iat ive s wit h gr e at e r impac tFe l i x Obe r ho l ze r-Ge e98LEADERSHIP DEVELOPMENTThe Hi gh Cost of Poor Successi on Planni ngA be t t e r way t o fin d your n e xt CEOCl a ud i o Fe r n n d e z-Ar o z,Gr e go r y Na ge l,a n d Ca r r i e Gr e e nPhotograph b y ISAMU SAWA134MayJune 20218Ha r va r d Busin ess ReviewMayJu ne 2021CHICAGO BOOTHSADVANCED MANAGEMENT PROGRAMThe pandemic has permanently transformed the business landscape and placed extraordinary demands on senior business leaders.Disruptive forces are accelerating the way businesses innovate and operate.To thrive in 2021 and beyond,successful leaders need unparalleled leadership to drive growth from new possibilities while cultivating a sustainable future.The Advanced Management Program(AMP)from the University of Chicago Booth School of Business is designed to help senior leaders respond to unpredictability while meeting changing business needs.Participants will gain the skills to take their organization to the next level through agile,innovative leadership.Whats more,Booths AMP is the only senior-level executive?customization,as each participant creates his or her own targeted,personalized curriculum across multiple learning formats.You can enroll anytime,as electives are offered throughout the year in multiple learning formats such as in-person and live-online.Learn more at ChicagoBooth.edu/AMP or contact us+1312.464.8732,exec.edchicagobooth.edu,for a personalized consultation.UNPARALLELED LEADERSHIP FOR EXTRAORDINARY TIMES 21Idea WatchNe w Re se ar c h an d Eme r gin g In sigh t s2 1CUSTOMERSWhy Cust omer Loyalt y Programs Can Backfi reWh e n m e m be r s e xpe r ie n c e se r vic e failur e s,t h e y ge t mo r e upse t t h an n on me mbe r s.He r e s h ow t o mit igat e t h e damage.PLUS BLM an d t h e for t un e s of blac k e n t r e pr e n e ur s,h ow kn owle dge wor k h as c h an ge d in t h e pan de mic,an d mor e32 DEFEND YOUR RESEARCHBanks wi t h More Women on Thei r Boards Commi t Less FraudNe w r e se ar c h sh ows t h at dive r sit y pr omot e s good gove r n an c e.34HOW WE DID ITThe CEO of Pfi zer on Developi ng a Vacci ne i n Rec ord Ti meIt st ar t e d wit h a moon-sh ot c h alle n ge.Al be r t Bo ur l aDepartments12 FROM THE EDITOR14CONTRIBUTORS158 EXECUTIVE SUMMARIES145ExperienceAdvic e an d In spir at ion145MANAGING YOURSELFSavvy Self-Promot i onTh e de lic at e ar t,an d sc ie n c e,of br aggin gLe sl i e K.J o hn150CASE STUDYWhat Role Should a Company Play i n a Nat i onal Cri si s?A le adin g family busin e ss c on side r s wh e t h e r t o do mor e t h an un de r wr it e disast e r r e lie f.Chr i st o phe r J.Ma l l o y156SYNTHESISAnxi et y When Theres a Lot t o Be Anxi ous AboutRe fle c t ion s on wh at doe s(an d doe sn t)h e lpGr e t che n Ga ve t t164LIFES WORKAlex Honnold“We remained clear about one thing:We would move only as fast as