After months of uncertainty, Elon Musk appears to be moving ahead on a deal to acquire Twitter for $44 billion. (Probably.) If the deal goes through, the next big question is: How will he change the company? Musk’s specific goals for Twitter have been hard to pin down, but the problem of how to transform the strategy of a technology business is a familiar one. What Musk will need to overcome is not unlike the challenge faced by an outside executive joining a new company, a private equity firm on a new deal, or a general manager overseeing an acquired business unit on behalf of a conglomerate.
The Challenges of Transforming Twitter
Five principles Elon Musk (or anyone) should follow when making strategic changes at a legacy tech company.
October 14, 2022
Summary.
Elon Musk may be an idiosyncratic leader, but if he buys Twitter he’ll face a familiar business challenge: how to transform a legacy tech company. Faced with this challenge, leaders should follow five principles: 1) prioritize an objective, 2) communicate the strategy, 3) rethink norms, 4) set high but achievable expectations, and 5) transparently engage with stakeholders.
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New!
HBR Learning
Strategy Planning and Execution Course
Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Strategy Planning and Execution. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
How to develop a winning strategy—and put it to work.