Release date: November 8, 2021
Speakers: Andrea Pignataro (CEO of ION Group) and Alfonso Gambardella (Bocconi University)
Description: Why do superstar firms characterized by hyper-growth emerge in the digital era? Why do owners/entrepreneurs remain at the helm of firms and keep running them even if they become complex and large? Why do firms increasingly rely on M&As and external growth flexibly reconfiguring their knowledge base and assets? Why do firms become increasingly customer-centric and tend to experiment more?
These questions are intimately related with the effects of the digital revolution, and this webinar, led by Andrea Pignataro, CEO of ION Group, and Alfonso Gambardella, Bocconi University, discusses firm strategies in this context. The premise is that algorithms will automatize high-frequency/low impact decisions liberating time for low-frequency/high impact strategic decisions, such as innovation decisions, M&A, capital structure, hiring of CEO or talented employees.
We argue that successful firms combine three complementary elements: a) embrace rather than escape uncertainty as a source of growth; b) develop a better “technology” of decision-making under uncertainty based on a rigorous scientific approach; c) revamp the role of owners as strategies. We conclude that growth of knowledge (“Delta K”) becomes the main purpose of the firm and that the ability to frame strategic decisions becomes their main source of competitive advantage. Firms can reach more specific purposes from greater knowledge and a better understanding of the consequences of their actions.