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Can nuclear plants be operated competitively in today’s market? Since 2013, utility executives have announced the early retirement of twelve reactors and Wall Street estimates reveal another dozen to be at risk; raising the question: Can nuclear plants be operated competitively in today’s market? For over 30 years, U.S.
The audience for such innovation wants to be receptive: A recent American Hospital Association (AHA) survey found that 75% of senior hospital executives endorsed the importance of digital innovation. Yet, despite their stated enthusiasm, hospitals have been notoriously slow to adopt digital innovations. health care system.
Under CEO Jack Welch in the 1980s and 1990s, they adopted operational efficiency approaches (“ Workout ,” “Six Sigma,” and “Lean”) that reinforced their success and that many companies emulated. You need to think like a portfolio manager, allocating resources both to innovate in your core and for the future.
Business students have traditionally considered net present value, paybackperiod, and hurdle rates as necessary tools to determine which project to select. Furthermore, the operating managers cannot take their eyes off day-to-day operations to focus on innovation.
Looking at LVMH’s efforts, I’ll highlight three areas where I see great impact and innovation: managing carbon and energy, building a connection with customers around brand purpose, and working closely with suppliers. The most innovative part of LVMH’s carbon strategy is the use of an internal carbon fund. .”
The parallels with business are clear: Stars are a crucial but perhaps fragile source of innovation and competitive advantage. Both these efforts help the paybackperiod arrive sooner, making collaboration a smarter investment for the next wave of people. Likewise, your actions can make the benefits start to flow sooner.
Still, if you''re dependent on coal-powered energy — or your value chain is — it''s time to rethink your energy strategy and reconsider the paybackperiods on clean energy investments. We''re operating in a "what can we get done" mentality, which is what passes for vision in Washington these days.
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