What Makes a Business a Masterpiece?

Customers are to a business the way an audience is to an artist.

The intersection between art and business strategy is an area that is rapidly gaining attention in the business world. Like artists, businesses need to have a clear vision and purpose to create a masterpiece. While traditional methods of analysis, such as data and metrics, are important, they're not always sufficient when dealing with complex business problems. “One might actually be inspired by art when making strategic business decisions, the result being better strategic decisions,” writes Peter Lorange, Founder of Lorange Network (at IMD).

The author argues that art can provide a unique perspective on complex business problems, and actually help leaders make more informed and effective decisions. Art supplies a unique perspective on complex business problems, helping them think creatively and generate new insights and solutions. To illustrate the potential of art in business decision-making, Lorange shares several personal anecdotes and some of his favourite artworks. He describes several ways in which these pieces can be used to improve strategic decision-making.

Here are a few of them: 

• Foster strategic thinking. Art provides a visual representation of complex systems and relationships, and can help leaders to identify patterns and connections that may not be immediately apparent.
• Improve communication. Art improves communication by providing a common language and visual representation of ideas and concepts. This can help businesses to communicate more effectively with their employees, customers, and other stakeholders, leading to better collaboration and more successful outcomes.
• Encourage risk-taking. Art encourages individuals to take risks and experiment with new ideas and approaches. This can help businesses to be more innovative and adaptable in response to changing market conditions.

Peter Lorange is a successful entrepreneur and owner of a highly diversified family office. He has been regarded as one of the world’s foremost business school academics, holding the position of President at IMD, Lausanne for 15 years, as well as several positions on shipping company boards. 

You can read his full article for free on our website.