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jerryking : managerial_preferences   3

Be Data Literate -- Know What to Know - WSJ.com
November 15, 2005 | WSJ |By PETER F. DRUCKER. (This article originally appeared in The Wall Street Journal on Dec. 3, 1992).

Few executives yet know how to ask: What information do I need to do my job? When do I need it? In what form? And from whom should I be getting it? Fewer still ask: What new tasks can I tackle now that I get all these data? Which old tasks should I abandon? Which tasks should I do differently? Practically no one asks: What information do I owe? To whom? When? In what form?...A "database," no matter how copious, is not information. It is information's ore. For raw material to become information, it must be organized for a task, directed toward specific performance, applied to a decision. Raw material cannot do that itself. Nor can information specialists. They can cajole their customers, the data users. They can advise, demonstrate, teach. But they can no more manage data for users than a personnel department can take over the management of the people who work with an executive.

Information specialists are toolmakers. The data users, whether executive or professional, have to decide what information to use, what to use it for and how to use it. They have to make themselves information-literate. This is the first challenge facing information users now that executives have become computer-literate.

But the organization also has to become information-literate. It also needs to learn to ask: What information do we need in this company? When do we need it? In what form? And where do we get it?
CFOs  CIOs  critical_thinking  data  databases  data_driven  decision_making  digital_savvy  incisiveness  information-literate  information-savvy  insights  interpretative  managerial_preferences  metacognition  organizing_data  Peter_Drucker  questions 
may 2012 by jerryking
The Founders Dilemma
February 2008 | HBR | Noam Wasserman.

Most entrepreneurs want to make pots of money and run the show. But Wasserman reveals that it’s tough to do both. If you don’t figure out which matters most to you, you could end up being neither rich
nor in control. Consider: To make a lot of money from a
new venture, you need financial resources to capitalize on the opportunities before you. That means attracting investors—
which requires relinquishing control as you give away equity and as investors alter your board’s membership. To remain in charge
of your business, you have to keep more equity. But that means fewer financial resources to fuel your venture. So, you must choose between money and power. Begin by articulating your primary motivation for starting a business. Then understand the trade-offs associated with
that goal. As your venture unfolds, you’ll make choices that support—rather than jeopardize—your dreams.
HBR  entrepreneur  start_ups  tradeoffs  founders  challenges  managerial_preferences  investors  boards_&_directors_&_governance  equity 
november 2011 by jerryking
Can Small Businesses Make America Prosperous? :
October 31, 2011| The New Yorker | by James Surowiecki.

There's an ongoing veneration of small business...But the truth is that, from the perspective of the economy as a whole, small companies are not the real drivers of growth....small businesses are, on the whole, less productive than big businesses, and though they do create most jobs, they also destroy most jobs, since, while starting a business is easy, keeping it going is hard....in the U.S. the connection between size and productivity is, as a 2009 study showed, especially close. In part, this is because big businesses are able to enjoy economies of scale and scope. Big businesses are also better able to make investments in productivity-enhancing technologies and systems; in the U.S., for instance, big companies account for the vast majority of R. & D. spending....It’s harder for small businesses to innovate in these ways, particularly when credit is tight, as it is now. More important, most small businesses aren’t necessarily interested in expanding or innovating. A recent study by the economists Erik Hurst and Benjamin Pugsley shows that only a tiny fraction of small-business owners have any interest in becoming big-business owners, or even in bringing a new idea to market. Most are people who simply want to run a small company, do work they enjoy, and have some control over their own financial lives.

Those are admirable goals, but they’re not going to make companies more productive....greater productivity is the main driver of long-term economic growth and higher living standards.
small_business  James_Surowiecki  productivity  owners  myths  illusions  large_companies  economies_of_scale  economies_of_scope  managerial_preferences 
october 2011 by jerryking

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