Vikram Pandit on risk management

Vikram Pandit is the CEO of Citigroup Source

Getting Down to the Business of Creativity

Happiness is not in the mere possession of money; it lies in the joy of achievement, in the thrill of creative effort.—Franklin Delano Roosevelt, Inauguration Day, 1933 Creativity, a quality more traditionally associated with artistic endeavors, has been slow to find its acknowledged place in the business world. Yet any entrepreneur can attest to the creative power required to build an organization where none existed before. "Look, I made a hat…/Where there never was a hat," sings Georges Seurat in the musical Sunday in the Park with George, a fictionalized account of the French pointillist painter, and it's easy to imagine Bill Gates or Oprah Winfrey humming the same tune. But if creativity is integral to business, and to entrepreneurship in particular, how exactly does it occur? Where does this unicorn-like creature come from, and what exotic conditions will help it thrive in captivity?

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Strategy Execution and the Balanced Scorecard

Companies often manage strategy in fits and starts. Though executives may formulate an excellent strategy, it easily fades from memory as the organization tackles day-to-day operations issues, doing what HBS professor Robert S. Kaplan calls "fighting fires."

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