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jerryking : industry_expertise   20

Business Development Not-to-Do #5: Live In the Past | JD Supra Perspectives -
April 21, 2017 | JDSupra | by Mike O'Horo, co-founder of RainmakerVT. O'Horo has trained 7000 lawyers in firms of all sizes and types, in virtually every practice type. They attribute $1.5 billion in additional business to their collaboration. His latest innovation, Dezurve, reduces firms’ business development training investment risks by identifying which lawyers are serious about learning BD.]

If you’re seeing more competition for each engagement, greater pressure on rates, more involvement by professional buyers in the Purchasing Dept., and perhaps worst of all, longtime clients putting out RFPs for “your” work, your work has reached the Maturity stage of its Product Cycle. If you fail to change, you’ll ride a downward spiral until you can no longer make money on that work.

What is the product cycle?  Introduction ->Growth -> Maturity -> Decline. Revenue and profit follow a fairly predictable path through this cycle. Most buyers understand that, among the three forms of value -- Good, Fast, Cheap -- they can only have two. During the Introduction and Growth phases, they opt for Good and Fast. At Maturity, they favor Good and Cheap. At Decline, they may demand all three......

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Defending market share becomes the chief concern.
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At the maturity stage, sales growth has started to slow and is approaching the point where the inevitable decline will begin. Defending market share becomes the chief concern. Most lawyers don’t know how to do that other than by reducing their price to try to hold on to the work. Additionally, more competitors have stepped forward to challenge you for every engagement, and offer a lower price. This can touch off price wars. Lower prices mean lower profits, which will cause some wise lawyers to discontinue offering that service altogether. The maturity stage is usually the longest of the four life cycle stages, and it is not uncommon for a service to be in the mature stage for several decades. Whatever you’re experiencing now is also the future.

For quite awhile, lawyers who thought about this at all could be forgiven for believing that legal services were immune from this. After all, for more than 20 years, buyers and work were plentiful, and clients accepted annual rate increases of 6-10%. All that meant, though, was that legal services had a longer Growth phase than is normal. Even during that 20-year boom, many legal services declined in value and pricing power, to the point that many lawyers lost that business to lower-cost competitors, off-shoring, or to in-house legal staffs.
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You can’t justify investing in a declining asset.
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The symptoms cited in the opening paragraph are reliable indicators that it’s time to begin reducing your dependence on that work. You can’t justify investing in a declining asset.......One of the big factors causing price pressure in mature categories is decreased risk. The first time a company tackles a type of legal matter, the perceived risk is high. They want to get it done right, and quickly, so they’re less sensitive to cost and place greater value on expertise as a way to reduce risk.

After something has been done a number of times, the risk of getting it done right goes way down, so the perceived value of the service declines, and they no longer feel the need to pay the top lawyer in the game.......

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When risk and business impact declines, so does your access...
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Once the recipe is known, the risk declines and, along with it, the buyer’s willingness to pay a premium for the wizard practitioner.

When risk and business impact declines, so does your access. While the top people pay attention to unfamiliar matters with potentially high stakes, once the risk goes down, they delegate downward and move on to emerging issues that have greater risk and impact.
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associate yourself with a business problem that triggers demand for your expertise, and opens doors to those experiencing that problem.
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Just as it’s imprudent to invest in declining categories of legal matters, it’s a bad idea to hitch your wagon to a declining industry (unless you do Bankruptcy or Restructuring). Clients in mature industries experience the same increased competition, price pressure, and shrinking margins as you do. They’ll opt for Good and Cheap.

To avoid suddenly realizing that you’re in a tough spot such as described in the opening paragraph, focus on an industry. Become an industry expert, knowledgeable about their challenges and opportunities, and keep yourself well informed so you can recognize the early signs that your Door-Opener (the problem that drives demand for your service) is maturing and declining in significance. If you know what’s going on in the industry, you’ll know which problems to shift your association toward.

Always invest in emerging issues, preferably in robust, growing industries
cash_cows  decline  industry_analysis  law_firms  lawyers  life_cycle  industry_expertise  professional_service_firms  product_cycles  obsolescence  price_wars 
7 weeks ago by jerryking
Da Vinci code: what the tech age can learn from Leonardo
April 26, 2019 | Financial Times | by Ian Goldin.

While Leonardo is recognised principally for his artistic genius, barely a dozen paintings can be unequivocally attributed to him. In life, he defined himself not as an artist but as an engineer and architect......History does not repeat itself, but it rhymes. The Renaissance catapulted Italy from the Medieval age to become the most advanced place on Earth. Then, as now, change brought immense riches to some and growing anxiety and disillusionment to others. We too live in an age of accelerating change, one that has provoked its own fierce backlash. What lessons can we draw from Leonardo and his time to ensure that we not only benefit from a new flourishing, but that progress will be sustained? When we think of the Renaissance, we think of Florence. Leonardo arrived in the city in the mid 1460s, and as a teenager was apprenticed to the painter Verrocchio. The city was already an incubator for ideas. At the centre of the European wool trade, by the late 14th century Florence had become the home of wealthy merchants including the Medicis, who were bankers to the Papal Court. The city’s rapid advances were associated with the information and ideas revolution that defines the Renaissance. Johann Gutenberg had used moveable type to publish his Bible in the early 1450s, and between the time of Leonardo’s birth in 1452 and his 20th birthday, some 15m books were printed, more than all the European scribes had produced over the previous 1,500 years.

..as Leonardo knew, and the Silicon Valley techno-evangelists too often neglect, information revolutions don’t only allow good ideas to flourish. They also provide a platform for dangerous ideas. The Zuckerberg information revolution can pose a similar threat to that of Gutenberg.

In the battle of ideas, populists are able to mobilise the disaffected more effectively than cerebral scientists, decently disciplined innovators and the moderate and often silent majority. For progress to prevail, evidence-based, innovative and reasoned thinking must triumph.
.....Genius thrived in the Renaissance because of the supportive ecosystem that aided the creation and dissemination of knowledge — which then was crushed by the fearful inquisitions. Today, tolerance and evidence-based argument are again under threat.
accelerated_lifecycles  architecture  broad-based_scientific_enquiry  capitalization  cross-disciplinary  cross-pollination  curiosity  dangerous_ideas  digital_economy  diversity  engineering  evidence_based  Florence  genius  globalization  human_potential  ideas  immigrants  Italy  industry_expertise  Johan_Gutenberg  lessons_learned  Leonardo_da_Vinci  Medicis  medieval  physical_place  polymaths  observations  Renaissance  Renaissance_Man  Silicon_Valley  silo_mentality  tolerance  unevenly_distributed  visionaries 
april 2019 by jerryking
Algos know more about us than we do about ourselves
NOVEMBER 24, 2017 | Financial Time | John Dizard.

When intelligence collectors and analysts take an interest in you, they usually start not by monitoring the content of your calls or messages, but by looking at the patterns of your communications. Who are you calling, how often and in what sequence? What topics do you comment on in social media?

This is called traffic analysis, and it can give a pretty good notion of what you and the people you know are thinking and what you are preparing to do. Traffic analysis started as a military intelligence methodology, and became systematic around the first world war. Without even knowing the content of encrypted messages, traffic analysts could map out an enemy “order of battle” or disposition of forces, and make inferences about commanders’ intentions.

Traffic analysis techniques can also cut through the petabytes of redundant babble and chatter in the financial and political worlds. Even with state secrecy and the forests of non-disclosure agreements around “proprietary” investment or trading algorithms, crowds can be remarkably revealing in their open-source posts on social media.

Predata, a three-year-old New York and Washington-based predictive data analytics provider, has a Princeton-intensive crew of engineers and international affairs graduates working on early “signals” of market and political events. Predata trawls the open metadata for users of Twitter, Wikipedia, YouTube, Reddit and other social media, and analyses it to find indicators of future price moves or official actions.

I have been following their signals for a while and find them to be useful indicators. Predata started by creating political risk indicators, such as Iran-Saudi antagonism, Italian or Chilean labour unrest, or the relative enthusiasm for French political parties. Since the beginning of this year, they have been developing signals for financial and commodities markets.

The 1-9-90 rule
1 per cent of internet users initiate discussions or content, 9 per cent transmit content or participate occasionally and 90 per cent are consumers or ‘lurkers’

Using the example of the company’s BoJ signal. For this, Predata collects the metadata from 300 sources, such as Twitter users, contested Wikipedia edits or YouTube items created by Japanese monetary policy geeks. Of those, at any time perhaps 100 are important, and 8 to 10 turn out to be predictive....This is where you need some domain knowledge [domain expertise = industry expertise]. It turns out that Twitter is pretty important for monetary policy, along with the Japanese-language Wiki page for the Bank of Japan, or, say, a YouTube video of [BoJ governor] Haruhiko Kuroda’s cross-examination before a Diet parliamentary committee.

“Then you build a network of candidate discussions [JK: training beds] and look for the pattern those took before historical moves. The machine-learning algorithm goes back and picks the leads and lags between traffic and monetary policy events.” [Jk: Large data sets with known correct answers serve as a training bed and then new data serves as a test bed]

Typically, Predata’s algos seem to be able to signal changes in policy or big price moves [jk: inflection points] somewhere between 2 days and 2 weeks in advance. Unlike some academic Twitter scholars, Predata does not do systematic sentiment analysis of tweets or Wikipedia edits. “We only look for how many people there are in the conversation and comments, and how many people disagreed with each other. We call the latter the coefficient of contestation,” Mr Shinn says.

The lead time for Twitter, Wiki or other social media signals varies from one market to another. Foreign exchange markets typically move within days, bond yields within a few days to a week, and commodities prices within a week to two weeks. “If nothing happens within 30 days,” says Mr Lee, “then we say we are wrong.”
algorithms  alternative_data  Bank_of_Japan  commodities  economics  economic_data  financial_markets  industry_expertise  inflection_points  intelligence_analysts  lead_time  machine_learning  massive_data_sets  metadata  non-traditional  Predata  predictive_analytics  political_risk  signals  social_media  spycraft  traffic_analysis  training_beds  Twitter  unconventional 
november 2017 by jerryking
As Silicon Valley Gets ‘Crazy,’ Midwest Beckons Tech Investors
NOV. 19, 2017 | The New York Times | By STEVE LOHR.

The rationale for investing in the Midwest combines cost and opportunity. A top-flight software engineer who is paid $100,000 a year in the Midwest might well command $200,000 or more in the Bay Area. The Midwest, the optimists say, also has ample tech talent, with excellent engineers coming out of major state and private universities in the region.

But they also point to technology shifts. As technology transforms nontech industries like health care, agriculture, transportation, finance and manufacturing, the Midwest investors argue that being close to customers will be more important than being close to the wellspring of technology.

“The value will come from marrying industry knowledge with technology,” said Mr. Olsen of Drive Capital. “There’s an arrogance in Silicon Valley that we don’t need industry expertise. That’s going to be less and less true in the future.”.....Referring to the troubles chronicled in his book, Mr. Vance said that “at least a partial solution is to get more investment capital into this part of the country.”....Mr. Case and Mr. Vance talk of the need to create “network density” by bringing together more entrepreneurs, customers, partners and investment capital. The trips can and do yield investment candidates for Revolution, but start-up evangelism is the main theme.
investors  Silicon_Valley  start_ups  Hillbilly_Elegy  venture_capital  vc  Midwest  Steve_Lohr  J.D._Vance  industrial_Midwest  rust_belt  Steve_Case  industry_expertise  network_density 
november 2017 by jerryking
The Future Is Dodgeball -
Nov. 5, 2017 | WSJ | By Andy Kessler.

Ben Rosen rambled on about getting in the middle of things at events, conferences and seminars. He said that at first nothing will make sense and all these balls will be flying across the room out of your reach. But eventually you’ll find yourself in the middle of the room and balls will start hitting you. Then you’ll know you’re inside....Turns out it was the best advice I would ever receive.

The thing about the future is that, as William Goldman wrote about screenwriting, “Nobody knows anything.” Everyone is an outsider, and it’s all up for grabs. Someone might have an opinion, but there are few facts. What you need are your own opinions about where the world is headed in any given industry: artificial intelligence, gene editing, autonomous trucks, marine salvage—whatever.

You need to go to places where the future is discussed. Every industry has these events. Make the time to go. And not only to hear keynoters billow hot air, but for the panel discussions where people disagree. The conversation spills out into the hallways between talks..... Barge in anyway. Remember, there are no facts, only opinions.

Walk up and talk to people. Ask what they do. They’re there because they want to learn something too. They will all ask you what you think. Come up with something fast, but don’t be too stubborn to change what you think as you learn more. During the personal-computer era I saw a guy, whom Bill Gates had just introduced, standing by himself after showcasing the first truly high-resolution videogame. I chatted him up and he has been a friend for life, showing me not only where technology is headed but the path it takes.

It’s not classic networking but a network of ideas. The goal is finding a new way to think, to filter news over time as the future takes shape in fits and starts. It never happens in a straight line. Hydraulic fracturing has been around and argued about since 1947. Anyone had a chance to study this future of unlocking natural gas and make a fortune. Same for artificial intelligence in 1956, e-commerce in 1979 and quantum computing in 1982.

The future doesn’t happen overnight. You just need to get inside it and let some of those balls whizzing by start to hit you. And you’ve got to do this in person. Most issues don’t show up online, let alone on Facebook or Twitter . It’s tough as a writer to admit that subtle nuances sometimes require face-to-face conversation.

It doesn’t matter if you’re 25, 45 or 65. The industry you pick to work in has more of a say in your success than your job description. Same for giving money away. If you want to fund Alzheimer’s research, you better find yourself at wonky conferences going toe-to-toe with doctors. Eventually, you’ll know more.

I met Jeff Bezos at a tech conference about a decade ago and mentioned that I had just self-published a book and used his Amazon Advantage program to sell it. He proceeded to grill me like a steak, asking what was wrong with it and what features he should add. I’m convinced he keeps winning because he enjoys being hit with dodgeballs. He famously left New York a retailing outsider with an idea to sell books. Balls whizzed by until they hit. He now has the ultimate inside view.

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“Play in traffic.”.....“It means that if you go push yourself out there and you see people and do things and participate and get involved, something happens,” he said. “Both of my great occasions in life happened by accident simply because I showed up.”“I tell people, just show up, get in the game, go play in traffic,” Mr. Plumeri said. “Something good will come of it, but you’ve got to show up.”
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Andy_Kessler  '80s  Wall_Street  Morgan_Stanley  Communicating_&_Connecting  conferences  panels  future  small_talk  face2face  independent_viewpoints  action-oriented  ice-breakers  advice  playing_in_traffic  industry_expertise  Jeff_Bezos  straight-lines  think_differently 
november 2017 by jerryking
The Dutch Have Solutions to Rising Seas. The World Is Watching. - The New York Times
By MICHAEL KIMMELMAN, Photographs by JOSH HANER
JUNE 15, 2017

Mr. Ovink is the country’s globe-trotting salesman in chief for Dutch expertise on rising water and climate change. Like cheese in France or cars in Germany, climate change is a business in the Netherlands. Month in, month out, delegations from as far away as Jakarta, Ho Chi Minh City, New York and New Orleans make the rounds in the port city of Rotterdam. They often end up hiring Dutch firms, which dominate the global market in high-tech engineering and water management.....From a Dutch mind-set, climate change is not a hypothetical or a drag on the economy, but an opportunity.....the Dutch strategy is It is, in essence, to let water in, where possible, not hope to subdue Mother Nature: to live with the water, rather than struggle to defeat it. The Dutch devise lakes, garages, parks and plazas that are a boon to daily life but also double as enormous reservoirs for when the seas and rivers spill over. You may wish to pretend that rising seas are a hoax perpetrated by scientists and a gullible news media. Or you can build barriers galore. But in the end, neither will provide adequate defense, the Dutch say.

“A smart city has to have a comprehensive, holistic vision beyond levees and gates,” as Arnoud Molenaar, the city’s climate chief, put it. “The challenge of climate adaptation is to include safety, sewers, housing, roads, emergency services. You need public awareness. You also need cyber-resilience, because the next challenge in climate safety is cybersafety. You can’t have vulnerable systems that control your sea gates and bridges and sewers. And you need good policies, big and small.

And what holds true for managing climate change applies to the social fabric, too. Environmental and social resilience should go hand in hand, officials here believe, improving neighborhoods, spreading equity and taming water during catastrophes. Climate adaptation, if addressed head-on and properly, ought to yield a stronger, richer state......the Dutch view: “We have been able to put climate change adaptation high on the public agenda without suffering a disaster in many years because we have shown the benefits of improving public space — the added economic value of investing in resilience.

“It’s in our genes,” he said. “Water managers were the first rulers of the land. Designing the city to deal with water was the first task of survival here and it remains our defining job. It’s a process, a movement.

“It is not just a bunch of dikes and dams, but a way of life.”
adaptability  climate_change  Dutch  floods  industry_expertise  Netherlands  opportunities  resilience  Rotterdam  sea-level_rise  sustainability  smart_cities  social_fabric 
june 2017 by jerryking
Remembering David Livingstone: The man who knew outfits and interviews inside out - The Globe and Mail
BERNADETTE MORRA
Special to The Globe and Mail (includes correction)
Published Friday, Apr. 21, 2017

Many times we would be watching an outfit come down the runway and he would lean over and say something like, “those shoes remind me of that song …” and then he would quote the lyrics of a jazz tune sung by someone I’d never heard of. Long before there was an Internet or easy access to databases, Livingstone was salting his copy with obscure references from films and literature.

Photographers and publicists who sat in on his interviews with designers, actors and models all have stories of the depth and breadth of his knowledge, and how he applied it to the seemingly trite world of fashion.....“He was a massive fan of cinema – he would see one film by a Hungarian director then hunt down their entire library. He was always so well-prepared at interviews, he would form an instant, genuine connection. He put his heart and soul into everything he did.”

Livingstone’s dedication to editorial excellence was both staggering and maddening.....his prose was unbeatable. A diamond cuff bracelet was “as wide as a crosswalk.” The lighting in his overpriced European hotel was so bad, reading his laptop was “like trying to read the marks left by a stick in dirty water.”...“He asked questions no one else asked,” notes Dawn Bellini, senior director of marketing and public relations for Hugo Boss Canada. “Often it was about the button stance or why you had to have something on a lapel. Interviews went way over time. He took much longer than anyone else. But to him details and the back story mattered.”....“He didn’t want to talk about skirt lengths. The conversation was about books and movies. He always made us think. And afterward, we would reflect and grow from that.”....The lack of accuracy and context in today’s 140-character world irked my friend and colleague to no end. But that didn’t stop him from mentoring young talent when he saw potential.
books  cinema  detail_oriented  fashion  films  industry_expertise  inside_out  journalists  journalism  literature  mentoring  movies  obituaries  questions  smart_people  thinking  tributes 
april 2017 by jerryking
Peter's Principles, Market Research and Forecasting Article | Inc.com
Excerpts and thoughts on "Adventures of a Bystander"

Drucker looks for simplicity but likes to convey complexity. He loves simplicity but realizes that getting there means making connections: to the past, to related fields. He answers questions by trotting through history, art, science. Listening to him, you learn not just the answer but also how to make connections between disparate subjects and thus deepen your understanding. It makes you, the listener, more valuable as an adviser and teacher.

History is Drucker's primary tool for complexifying. "I'm not a professional historian," he says, "but I've learned that nothing helps me as much in my work as a little bit of historical knowledge about a country, technology, or industry. Every few years I pick another major topic and read in it for three years. It's not long enough to make me an expert, but it's long enough to understand what the field is all about. I've been doing this for 60 years."
Peter_Drucker  advice  simplicity  complexity  consigliere  history  interconnections  connecting_the_dots  contextual  industry_expertise 
april 2015 by jerryking
Knowledge is the key - FT.com
December 6, 2013 12:01 am
Knowledge is the key

By Feargus O’Sullivan

"Many business plans come past my desk, often from young people with possibly good ideas but very little experience. Without base knowledge of your industry, often you’ll fail. That’s the last thing a young entrepreneur wants to hear, but I see things going wrong so often because they lack fundamental business understanding.

“If I had any advice for my younger self, I’d say read Ayn Rand. I’ve always been a libertarian, a believer in capitalism, freedom and the individual. That’s what keeps the world afloat. Rand defined seven virtues that we have running through the business, [rationality, productiveness, pride, independence, integrity, honesty and justice] ... because we thought they were good guidance for both a fulfilling life and for a successful organisation.
Ayn_Rand  knowledge  libertarians  virtues  business_planning  advice  industry_expertise  young_people 
december 2013 by jerryking
Power brokers replace complainers in women’s networks - The Globe and Mail
LEAH EICHLER

Special to The Globe and Mail

Published Friday, Jun. 21 2013

“The success of a person’s career substantially depends on the strength of her network,” Ms. Gagnon asserted. “After expertise and hard work, the ability to build relationships is the third prerequisite for professional success and the higher you move up, the more crucial it becomes.”
women  networking  Communicating_&_Connecting  hard_work  power_brokers  industry_expertise 
june 2013 by jerryking
FarmLogs: How One Y Combinator Start-up Alum Plans to Disrupt Farming
Feb 28, 2013 | Inc.com | Christina DesMarais.

FarmLogs, of course, keeps user data in the cloud so they can access it with a mobile device or with a browser at any time.

Why Farming Is Ripe for Better Technology

But what's really cool, Vollmar says, is the data side of what FarmLogs is doing.

"We're bringing this industry online and all the data that's trapped offline right now becomes available--in aggregate and anonymously--[so] we're able to learn from this agricultural production information in ways that we've never been able to before," he says. "We're opening new doors in exploration of the data itself in being able to drive new efficiencies in farming, which is going to be incredibly important as the population is growing."

For other start-ups who have domain expertise in farming, this is a good thing.

"It's exciting to see there are old, established industries that have room for disruption and the room for innovation is massive in the farming industry," Vollmar says.
Y_Combinator  disruption  farming  agriculture  FarmLogs  industry_expertise 
march 2013 by jerryking
Seek at Least One Investor Who’s Been in Your Shoes - The Accelerators - WSJ
January 23, 2013 | WSJ |KEVIN COLLERAN.

It makes sense for an entrepreneur to be inclined to pursue venture capitalists who have proven their ability to grow their own business in order to gain the experience and credibility to advise others. However, in many cases, the skills, advice and mentorship that an entrepreneur seeks from a venture capitalist is less about the process of building a company and more about industry expertise, team building and talent recruitment, financial planning — or other skills that don’t necessarily require having previously started a company.
entrepreneur  boards_&_directors_&_governance  angels  venture_capital  vc  experience  accelerators  industry_expertise 
january 2013 by jerryking
Operational Expertise Makes the Difference
Fall 2004 | The Journal of Private Equity | Peter L. Tourtellot

In the last decade, companies in need of innovative change-agents learned to look outside their industries for new chief executives. These leaders were just what the companies needed: outsiders with a fresh perspective that
encourage strategic and organizational change. When a company is in distress. it needs to make drastic changes An industry outsider. with a wide range of operational experience is in the best position to get a handle on the root causes of trouble and identify applicable solutions from other industries that may never have occurred to the faltering company. Simply put. the need for industry experience in a turnaround situation is a myth. An industry outsider is the best source for the out-of-the-box thinking needed to reverse a company's decline.
turnarounds  execution  CEOs  private_equity  change_agents  industry_expertise  expertise  operations  outsiders  decline  out-of-the-box  fresh_eyes 
august 2012 by jerryking
Zimbabwe's New Export - WSJ.com
August 3, 2004 | WSJ | Editorials

The fate of the evicted white farmers has been less publicized. While many left the continent, others have been welcomed by neighboring African countries eager to profit from their agricultural knowledge and expertise. Zimbabwe's loss has been their gain.

Zambia led the move, and the country has moved from food shortages in the 1990s to actually exporting food -- ironically much of it to Zimbabwe. Tens of thousands of jobs have been created and related industries are growing. Noting Zambia's success, other African countries are following suit. Last week Nigeria's western state of Kwara enticed a group of former Zimbabwean farmers to set up shop with promises of tax breaks and loans.

Mugabe unleashed mob rule on Zimbabwe a decade ago, purporting to right colonial wrongs by "reclaiming" (mostly) white-owned farms for family and friends. It's no small irony that some of those who were dispossessed are now rebuilding their lives and work elsewhere, while those Mugabe claimed to be helping are hungrier and worse off than before.

The welcoming of Zimbabwe's white farmers into other African countries, and the benefits they bring in terms of agricultural know-how, is another reminder of Mugabe's personal culpability in ruining Zimbabwe. It also makes the silence of African leaders as Zimbabwe descends further into chaos all the more inexcusable.
dislocations  Zimbabwe  Robert_Mugabe  editorials  farming  agriculture  brain_drain  evictions  farmland  dispossessions  whites  industry_expertise  expulsions 
august 2012 by jerryking
Higher turnover level changing the face of corporate boards in Canada - The Globe and Mail
Feb. 20 2012 | G&M | JANET MCFARLAND

Boards are adding more people with specific industry expertise – rather than business generalists – as well as more first-time directors and far more female directors, according to a new study of 100 of Canada’s largest company boards by executive search firm Spencer Stuart.
boards_&_directors_&_governance  women  turnover  expertise  industry_expertise 
july 2012 by jerryking
How outsiders solve problems that stump experts
May. 02, 2012 | The Globe and Mail| by ERIN MILLAR Special to Globe and Mail Update.

“Radical innovations often happen at the intersections of disciplines,” write Dr. Karim Lakhani and Dr. Lars Bo Jeppesen, of Harvard Business School and Copenhagen Business School respectively, in the Harvard Business Review. “The more diverse the problem-solving population, the more likely a problem is to be solved. People tend to link problems that are distant from their fields with solutions that they've encountered in their own work.”....“We assume that technical problems can be solved only by people with technical expertise,” writes Jonah Lehrer, who discusses InnoCentive in his new book Imagine: How Creativity Works. “But that assumption is wrong. The people deep inside a domain – the chemists trying to solve a chemistry problem – often suffer from a type of intellectual handicap. It's not until the challenge is shared with motivated outsiders that the solution can be found.
creativity  heterogeneity  innovation  polymaths  problem_solving  InnoCentive  books  Jonah_Lehrer  cross-pollination  interdisciplinary  outsiders  intellectual_diversity  moonshots  breakthroughs  industry_expertise 
may 2012 by jerryking
The Path to Growth - WSJ.com
MARCH 3, 2007 | Wall Street Journal | By NORMAN T. SHEEHAN
& GANESH VAIDYANATHAN. Even the most successful business models
erode over time making adaptability the key to thriving under tough
conditions. To avoid getting stuck in a rut, companies must constantly
adapt business models to threats and opportunities. While most managers
consider a host of conventional approaches, there's another way to
approach the problem: Look at value-creation strategies. Here are three
such strategies:
* Industrial efficiency, which creates value by producing
standardized offerings at low cost. Manufacturers and fast-food
restaurants rely on this approach.
* Network services, which creates value by connecting clients to
other people or other parts of the network. Telcos, delivery services
and Internet middlemen such as eBay use this method.
* Knowledge intensive, which creates value by applying customized
expertise to clients' problems. Law firms and medical practices are
prime examples.
business_models  delivery_networks  eBay  efficiencies  expertise  growth  industrial-strength  inequality_of_information  industry_expertise  knowledge_intensive  law_firms  legal  low-cost  middlemen  networks  orchestration  strategies  taxonomy  value_creation 
february 2010 by jerryking
Corner Office - John Chambers of Cisco - Treasure Your Setbacks - Question - NYTimes.com
Aug. 1, 2009 | New York Times | Interview w. John Chambers,
chairman and CEO, Cisco Systems, conducted and condensed by Adam Bryant.
(1) We’re products of the challenges faced in life; (2) Becoming a
great company involves encountering major setbacks--near-death
experiences--and overcoming them; (3) During stressful events, it’s
valuable to be your calmest, most analytical self; (4) Today’s world
requires a different leadership style — more collaboration and teamwork
including using Web 2.0 tech; (5) Build relationships with people who
have dramatically different views from yours by identifying and focusing
on areas shared in common; (6) Moving too slow or moving too fast
without process behind it are both dangerous; (7) Interview questions -
tell me about your results;your mistakes and failures-what would you do
differently this time? who are the best people you recruited and
developed-where are they today? Customer-oriented? Good listeners?
Domain expertise? Sports played?
Cisco  CEOs  leadership  lessons_learned  interviews  hiring  interview_preparation  John_Chambers  setbacks  teams  stressful  resilience  bouncing_back  collaboration  dual-consciousness  dangers  internal_systems  relationships  calm  industry_expertise  dissension  process-orientation 
august 2009 by jerryking
Succession Planning Is Over-Rated
November 5, 2007 blog post in Adam Smith on

Few individuals are likely to possess all the characteristics sought by
Wall Street institutions or law firms.

As for what matters most, I defer to Dennis Weatherstone, former
chairman of J.P. Morgan, who is given the last word in the Journal
article: Granted, he says, "the number of candidates for these
positions is somewhat limited" and experience is "always valuable." But
he sees the key in something else: It's more important, he avers, to
find a CEO who can "anticipate change." And maybe the one best able to
anticipate change is one who has less of a vested interest in the status
quo. Just a thought.
succession  talent_management  leadership  law_firms  anticipating  CEOs  Bruce_MacEwen  status_quo  experience  industry_expertise  change  overrated  what_really_matters 
april 2009 by jerryking
Hallmarks of an entrepreneur striving for gold
02-Aug-2005 | Financial Times pg. 8 | by John Mullins.

Entrepreneurs can succeed in difficult industries, but they must – among other things – be able to:

· Identify the critical success factors specific to their particular industry;

· Assemble a team that can deliver on these factors.

(1) Which decisions or activities are the ones that, if carried out wrong, will have crippling effects on company performance?
(2) Which decisions or activities, done right, will have a disproportionately positive effect on performance?
(3) In terms of skilful team-building, what skills do you have? Need?
disproportionality  entrepreneur  industry_expertise  ksfs  linchpins  jck  life_skills  online_travel  questions  rate-limiting_steps  site_selection  skills  skiing  Starbucks  start_ups  teams  think_threes  tourism 
march 2009 by jerryking

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