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Purpose The article shares the results of a survey Accenture undertook to measure AI’s potential economic impact on 16 industries.Design/methodology/approach The goal was to understand the chief reasons for AI’s potential impact and to identify a set of strategies that companies in any industry can use to benefit from advances in AI technologies.Findings AI’s unique characteristics as a capital–labor hybrid, which confers the ability to augment human labor at scale and speed, self-learn and continuously improve over time—will require organizations to adopt new approaches and models in a variety of functional areas.Practical implications AI can augment labor productivity by taking on low value-added or supporting tasks and thus enable workers to focus on high value work. Bosch has adopted a “thinking factory” approach in one of its German automotive plants…to enable AI-powered machines to self-diagnose technical failures, order replacement parts autonomously and anticipate maintenance needs.Originality/value All industries studied stand to benefit from AI, though three — information and communication, manufacturing and financial services sectors — will likely realize the biggest gains. Businesses in every industry will need to consider AI as a potential change agent in their investment, innovation and human capital development strategies. To prepare their organizations for a successful future with AI, business leaders should adopt eight strategies. [ABSTRACT FROM AUTHOR]

Investment in fixed assets - roads, buildings, machinery and other infrastructures - has powered China's economy for the last two decades. It has driven success in manufacturing export markets and has transformed the physical face of China. At the same time, many commentators worry that China's growth model relies too heavily on increasingly inefficient investments and that, as a result, its economy has become unbalanced. To sustain growth rates of 8% or higher, they argue, China must shift its economy toward consumption-led growth. While seemingly compelling, the conventional overinvestment story is misleading in certain respects. Our research shows that on some measures China may need more capital, not less. However, the key issue facing China is the distribution of capital and how it is used. In fact, investments in the right areas can stimulate household consumption and provide an entirely new source of balanced growth. [ABSTRACT FROM AUTHOR]

In an era of sluggish domestic growth, the business spotlight is once again turning to international diversification as a means to harness global growth opportunities and production efficiencies. However, the current empirical literature provides an inconsistent view of the effects of international diversification on business performance. We employ a panel-data analysis of the international revenues and assets of the 2011 Fortune Global 500 companies and examine their performance over the past 15 years. We find that the overall contribution of diversification to revenue growth, profitability and return on capital has been positive. However, the specific shape and timing of the impact can be complex. Accordingly, businesses need to be aware of the turning points for organizational gain as well as loss. [ABSTRACT FROM AUTHOR]

Purpose – The authors found that as more firms participate in open business ecosystems, the borders between an individual firm and its stakeholders – customers, suppliers, workers, partners and innovators – have become much more permeable and reconfigurable. This paper aims to address this issue.Design/methodology/approach – The paper shows how new open business models enable firms to maximize the benefits of openness while limiting the risks.Findings – The authors propose three "open firm" models based on their research, experience and observation: the harbor and fleet; the demand forum; and multivalent sourcing.Research limitations/implications – Case studies are provided. For example, the supply chain tracing firm Historic Futures has developed an online application called String that enables participating companies to monitor products hour by hour and mile by mile along the supply chain.Practical implications – The ability to establish and maintain appropriate networks is central to the success of open-firm strategies.Originality/value – As technological advances spur firms toward an era of greater openness, companies will increasingly need to examine the potential economic benefits of digitally linked clusters of businesses. The authors' framework can help executives decide which type of open-firm model can work best. [ABSTRACT FROM AUTHOR]

Purpose – The decade ahead will likely hold abundant opportunities for enterprises with the vision and energy to reach for them. This paper aims to look at how to take the most advantage of those opportunities.Design/methodology/approach – The paper examines the forces that will drive future growth. Then it reports on what some of the most successful companies are doing to harness those forces. Their focus on three key capabilities offers valuable insights for any enterprise seeking to excel in the coming years.Findings – Five areas of emerging economic opportunity are identified and the management capabilities to take advantage of them are described.Practical implications – The companies most likely to be successful in capturing rewards from these opportunities now evolving are those that develop fresh thinking in the way they approach operational excellence, customers, innovation, and the trade-off between global efficiency and local relevance.Originality/value – The paper shows how leading companies are building innovative capabilities to master the challenges of the emerging opportunities of the next decade. [ABSTRACT FROM AUTHOR]

Following the Great Recession, many commentators are already forecasting a bleak economic future for developed economies over the next decade. Our research suggests, however, that there are ample opportunities for new growth and jobs in mature economies. Policymakers and business leaders can mine rich seams of growth through imaginative responses to oft-perceived challenges around aging populations, the transition to a low-carbon future, rising demands for public services, new information-based services, and growing demands in the emerging world for social and physical infrastructure. However, such growth will fail to materialize unless action is taken today to secure the necessary supply-side foundations for longer-term growth. © 2011 Wiley Periodicals, Inc. [ABSTRACT FROM AUTHOR]

In this article, the author discusses ethical challenges in covering baseball player Barry Bonds. He mentions the relationship of Bond with the media with focus on the attitude and personalities that Bond portrays towards columnists. He relates his first one-on-one interview with Bonds in the spring of 1993 during which they talked about media interaction. Moreover, he claims that a columnist cannot personally take how athletes behave towards people and certain situations.

The article focuses on how businesses can build a balanced portfolio of geographic options to achieve competitive advantage. Key characteristics that measure geographic talent pools are attractiveness of the talent environment, quality of the workforce, and availability of top talent. Businesses are encouraged to understand where they can benefit from more sustainable energy systems and sources of renewable energy. There is also a need to focus on output measures to excel at innovation.

Compares the effects of liberalization with those of the restricted entry to the European air transport market. Pricing policy of new entrants to the market; Reduction in air fares; Market support for low unrestricted fares.