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How Emerson and it’s CEO, David Farr, are responding to COVID-19

How Emerson and it's CEO, David Farr, are responding to COVID-19 There’s a piece from the Wall Street Journal about how Emerson, a conglomerate, and its CEO, David Farr, has been responding to COVID-19. We often think of strategy as a document we put together. We often think of decision making as the process of putting together a proposal, presenting it to executives, and then letting people make decisions over an eight-week period. But the reality is that as soon as your strategy meets reality, reality always wins. For many critical decisions, you don’t have the luxury of time to appoint a team or hire a consulting firm to give you a recommendation after eight weeks. When you think about strategy, you have a document or you have a plan. As you start rolling out that plan, numerous issues crop up. You have to be an executive who can make decisions on the fly, using instinct and experience. You will rarely have enough of the right data, enough time to analyze that data, and enough time to think about the analyses. Most often, you will have to make a lot of the back-of-the-envelope calculations. In the Corporate Strategy and Transformation program, we emphasize that a lot…

How Emerson and it's CEO, David Farr, are responding to COVID-19 There’s a piece from the Wall Street Journal about how Emerson, a conglomerate, and its CEO, David Farr, has been responding to COVID-19. We often think of strategy as a document we put together. We often think of decision making as the process of putting together a proposal, presenting it to executives, and then letting people make decisions over an eight-week period. But the reality is that as soon as your strategy meets reality, reality always wins. For many critical decisions, you don’t have the luxury of time to appoint a team or hire…

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