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Managers are very prone to both benchmarking and stereotyping. These practices lead them into underestimating the power of luck, so that they often attribute success to capabilities and failure to bad luck in people or organizations they see as having the attributes of greatness, while they discount capabilities and attribute success to luck in people or organizations that do not conform to their ideas of greatness. Looking at second-level performers (where luck probably plays a lesser role) may be a smarter way to benchmark.

Automation Surprise or Ambiguous Cockpit Information manifests itself as a miscommunication between man and machine and may lead to serious incidents and accidents. Focusing on factual communication between crew members as well as using training scenarios that specifically address the lesser known, less critical malfunctions may prepare pilots for dealing with losses in automation.

With permission of the German Armed Forces Aviation Office (Luftfahrtamt der Bundeswehr)

Taking on a substantial new role without a change in title or authority is hard, but there are ways to manage this transition.

Networks are resilient, but a year of remote work has taken its toll on organizations.

To guarantee maximum ROI for its clients, executive education needs to fulfil some key criteria. The content must be tailored to individuals’ profoundly personal career paths, knowledge gaps, and blind spots, and the format must also suit the learning style and working context of each participant (podcasts, TED talks, print – no learning method is invalid). Self-paced online modules are a good step in this direction, allowing a decoupling from the rigid corporate calendar or the availability of teaching faculty. But individualization must also mean creating regular opportunities to reflect on and assimilate new skills and knowledge. Furthermore, executive participants should feel they have the toolkit and the support network they need to continue their learning journey long after they leave campus.

How are team dynamics affected by our evermore global and virtualized business context? An innovative game created at ESMT Berlin pits business leaders against fictional hackers to find out.

Since its inception, the luxury industry has been a growth story. Product extensions, store network expansion, entering growth markets – especially China and digital commerce – have been the drivers of the last years. Business cycles? There were some downturns during the SARS epidemic and the financial market crisis in 2009. Soon after, growth resumed at an even accelerated rate, driven by many more consumers craving luxury goods. Few thought that the diversification in terms of products, geographies, sectors, and consumers could be affected by economic downturns. All that is needed is a constant growth of the luxury clientele and their disposable incomes for marketers to turn them into customers of the brand.