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The 2024 Nobel Prize in Economics Goes To…..

The Nobel in Econ (a/k/a The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel) for 2024 was awarded a few days ago to Daron Acemoglu and Simon Johnson of MIT and to James Robinson of the University of Chicago. Here at Adam Smith, Esq., we try to... read more +

Who’s Your Firm’s Real Client?

by | Nov 5, 2018 | 2 Comments

There is only one valid definition of a business purpose: to create a customer. --Peter Drucker, The Practice of Management (New York,: Harper, 1st ed. 1954); Routledge, 2012, at p. 37 Urban legend has it that a Harvard Business School professor (who is never...

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Sears: 1886-2018

by | Oct 18, 2018 | 0 Comments

Sometimes when a corporation fails you could have seen it coming decades ago and so it's not news.  But rarely you could have seen it coming decades ago and it's still news.  Thus with Sears' bankruptcy filing. "Attention, attention must finally be paid...." Linda's...

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Is Your Firm Playing to Win, or Not to Lose?

by | Oct 7, 2018 | 0 Comments

Recent conversation with a veteran friend in the industry.  He had correctly deduced from a recent column in these pages that I'm (re-)reading the all-time strategy classic Playing to Win by A.G. Lafley and Roger Martin (Harvard Business Review Press: 2013) and he...

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What if there are only two strategies?

by | Oct 1, 2018 | 0 Comments

By "only two strategies," I mean what if there are only two general ways of creating a sustainable competitive advantage? I've read a lot of the business and management literature on strategy (believe me...) and this thought first surfaced when I read Michael Porter's...

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“Don’t Fight the Tape”

by | Sep 21, 2018 | 0 Comments

For those of you who may not have spent years as I did in and around Wall Street, "don't fight the tape" may be an obscure phrase but its meaning is essentially self-evident.  If the market (the "tape") is strongly headed in one direction, forget about what you think...

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