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jerryking : organizational_structure   10

Momofuku’s Secret Sauce: A 30-Year-Old C.E.O.
Aug. 16, 2019 | The New York Times | By Elizabeth G. Dunn.

Momofuku was founded in 2004, with an East Village ramen bar that, after some initial stumbles, wowed diners by combining pristine ingredients and impeccable technique in humble dishes that melded influences from Japan to Korea to the American south. Since then, it has become a private-equity backed company with restaurants from Sydney to Los Angeles; a growing chain of fast-casual chicken sandwich shops; a media production unit churning out television shows and podcasts; and designs on creating a line of sauces and seasonings that could capture supermarket aisles across America. While Mr. Chang is the brand’s lodestar, Ms. Mariscal, 30, is the executive who makes it all work.

Born and raised on the Upper West Side, to the family that founded the specialty foods emporium Zabar’s, Ms. Mariscal began her career at Momofuku in 2011, as a public relations and events intern. Over the years, she quietly became Mr. Chang’s closest collaborator and confidante, a largely unknown force shaping matters as varied as menu design, branding and business development. “She’s the only person I’ve ever felt comfortable giving complete carte blanche to, in terms of what Momofuku looks like and what it should be,” Mr. Chang said. He recalled suggesting to the company’s board that Ms. Mariscal be named C.E.O. almost four years ago, when she was 26. She finally assumed the role in April.

It’s not unusual for a chef like Mr. Chang to parlay cooking talent and charisma into restaurants, cookbooks and television shows — a formula pioneered by the likes of Emeril Lagasse, Bobby Flay and Rick Bayless in the 1990s. But chef-driven food brands of the scope and ambition that Mr. Chang and Ms. Mariscal envision for Momofuku, with dozens of locations and mainstream packaged food products, are harder to pull off.

Adding to the challenge is Momofuku’s particular identity, which revolves less around a distinct culinary tradition than an attitude of restless innovation, boundary pushing and spontaneity. A formulaic chain of steakhouses, Momofuku ain’t. Scaling that ethos requires a tightrope act: Create enough structure and continuity to stave off chaos, without destroying the brand’s animating spirit in the process.
Asian  brands  branding  business_development  CEOs  chefs  commercial_kitchens  David_Cheng  detail_oriented  differentiation  diversification  food  founders  fusion  growth  high-standards  interns  investors  kitchens  leadership  Momofuku  organizational_structure  restauranteurs  restaurants  scaling  special_sauce  women  workaholic 
8 weeks ago by jerryking
Why big companies squander good ideas
August 6, 2018 | | Financial Times | Tim Harford

.....Organisations from newspapers to oil majors to computing giants have persistently struggled to embrace new technological opportunities, or recognise new technological threats, even when the threats are mortal or the opportunities are golden. Why do some ideas slip out of the grasp of incumbents, then thrive in the hands of upstarts?.....“Disruption describes what happens when firms fail because they keep making the kinds of choices that made them successful,” says Joshua Gans, an economist at the Rotman School of Management in Toronto and author of The Disruption Dilemma. Successful organisations stick to their once-triumphant strategies, even as the world changes around them. More horses! More forage!

Why does this happen? Easily the most famous explanation comes from Clayton Christensen of Harvard Business School. Christensen’s 1997 book, The Innovator’s Dilemma, told a compelling story about how new technologies creep up from below: they are flawed or under-developed at first, so do not appeal to existing customers. Holiday snappers do not want to buy digital cameras the size of a shoebox and the price of a car.

However, Christensen explains, these technologies do find customers: people with unusual needs previously unserved by the incumbent players. The new technology gets better and, one day, the incumbent wakes up to discover that an upstart challenger has several years’ head start — and once-loyal customers have jumped ship.
............Within academia, Rebecca Henderson’s ideas about architectural innovation are widely cited, and she is one of only two academics at Harvard Business School to hold the rank of university professor. The casual observer of business theories, however, is far more likely to have heard of Clayton Christensen, one of the most famous management gurus on the planet.

That may be because Christensen has a single clear theory of how disruption happens — and a solution, too: disrupt yourself before you are disrupted by someone else. That elegance is something we tend to find appealing.

The reality of disruption is less elegant — and harder to solve. Kodak’s position may well have been impossible, no matter what managers had done. If so, the most profitable response would have been to vanish gracefully.

“There are multiple points of failure,” says Henderson. “There’s the problem of reorganisation. There’s the question of whether the new idea will be profitable. There are cognitive filters. There is more than one kind of denial. To navigate successfully through, an incumbent organisation has to overcome every one of these obstacles.”

......Henderson added that the innovators — like Fuller — are often difficult people. “The people who bug large organisations to do new things are socially awkward, slightly fanatical and politically often hopelessly naive.” Another point of failure......The message of Henderson’s work with Kim Clark and others is that when companies or institutions are faced with an organisationally disruptive innovation, there is no simple solution. There may be no solution at all. “I’m sorry it’s not more management guru-ish,” she tells me, laughing. “But anybody who’s really any good at this will tell you that this is hard.”
Apple  blitzkrieg  disruption  ideas  IBM  innovation  iPod  missed_opportunities  hard_work  Rotman  Steve_Jobs  theory  Tim_Harford  upstarts  large_companies  WWI  Xerox  Walkman  Clayton_Christensen  organizational_change  organizational_structure  MPOF  militaries  digital_cameras 
september 2018 by jerryking
What the history of the electric dynamo teaches about the future of the computer.
JUNE 9 2007 6:18 AM
By Tim Harford

David's research also suggests patience. New technology takes time to have a big economic impact. More importantly, businesses and society itself have to adapt before that will happen. Such change is always difficult and, perhaps mercifully, slower than the march of technology.

More recent research from MIT's Erik Brynjolfsson has shown that the history of the dynamo is repeating itself: Companies do not do well if they spend a lot of money on IT projects unless they also radically reorganize to take advantage of the technology. The rewards of success are huge, but the chance of failure is high. That may explain why big IT projects so often fail, and why companies nevertheless keep trying to introduce them.

Brynjolfsson recently commented that the technology currently available is enough to fuel a couple of decades of organizational improvements.
technology  Alfred_Chandler  historians  IT  productivity  productivity_payoffs  Erik_Brynjolfsson  organizational_improvements  organizational_change  organizational_structure  Tim_Harford  business_history 
may 2017 by jerryking
Marginal gains matter but gamechangers transform
25 March/26 March 2017 | FT | by Tim Harford.

In the hunt for productivity, the revolutionary long shot is worth the cost and risk.

.............................As Olympic athletes have shown, marginal improvements accumulated over time can deliver world-beating performance,” said Andrew Haldane in a speech on Monday, which is quite true. Mr Haldane, the Bank of England’s chief economist
........The marginal gains philosophy tries to turn innovation into a predictable process: tweak your activities, gather data, embrace what works and repeat.......As Mr Haldane says, marginal improvements can add up.

But can they add up to productivity gains for the economy as a whole? The question matters. There is no economic topic more important than productivity, which in the long run determines whether living standards surge or stagnate.
........
The idea that developed economies can A/B test their way back to brisk productivity growth is a seductive one.

An alternative view is that what’s really lacking is a different kind of innovation: the long shot. Unlike marginal gains, long shots usually fail, but can pay off spectacularly enough to overlook 100 failures.
.....
These two types of innovation complement each other. Long shot innovations open up new territories; marginal improvements colonise them. The 1870s saw revolutionary breakthroughs in electricity generation and distribution but the dynamo didn’t make much impact on productivity until the 1920s. To take advantage of electric motors, manufacturers needed to rework production lines, redesign factories and retrain workers. Without these marginal improvements the technological breakthrough was of little use.
....Yet two questions remain. One is why so many businesses lag far behind the frontier. .......The culprit may be a lack of competition: vigorous competition tends to raise management quality by spurring improvements and by punishing incompetents with bankruptcy. ....
But the second question is why productivity growth has been so disappointing. A/B testing has never been easier or more fashionable, after all. The obvious answer is that the long shots matter, too.
.....In a data-driven world, it’s easy to fall back on a strategy of looking for marginal gains alone, avoiding the risky, unquantifiable research (jk: leaps of faith). Over time, the marginal gains will surely materialise. I’m not so sure that the long shots will take care of themselves.
adaptability  breakthroughs  compounded  economics  game_changers  incrementalism  innovation  leaps_of_faith  marginal_improvements  moonshots  nudge  organizational_change  organizational_improvements  organizational_structure  productivity  productivity_payoffs  slight_edge  taxonomy  thinking_big  Tim_Harford 
march 2017 by jerryking
Training Wheels for Treasury Secretaries - WSJ
By HOLMAN W. JENKINS JR..
Updated Dec. 11, 2002

Public choice holds that politicians and government officials have interests, like anyone else, and understanding these interests is a better guide to their behavior than some disembodied notion of the "public good." In the words of Prof. Buchanan, "If you want to improve politics, improve the rules, improve the structure. Don't expect politicians to behave differently. They behave according to their interests."
public_choice  appointments  Holman_Jenkins  interests  politicians  organizational_structure  public_servants  politics  U.S.Treasury_Department  incentives  self-interest  public_goods  behaviours 
february 2015 by jerryking
Build a Practice Niche by Assisting Clients with Business Planning
Dec 1991 | The Practical Accountant | by Mark Scally and Mark C. Smitt.
Smaller companies tend not to have any formal business plans, and those that do often fail to implement them properly. Accountants ran assist their clients wlth the business planning process. The process must be tallored for each company's unique characteristics, and every consultant uses a slightly different process. The following process has been adapted from the traditional model to fit the typical closely held business: 1. Analyze internal and external factors. 2. Develop a mlssion statement. 3. Set goals. 4. Develop a marketing and sales strategy. 5. Perform financial projections. 6. Draft action plans. 7. lmplement the plan. 8. Put the proper organizational structure and management team in place. 9. Implement the necessary information systems. The planning process gives closely held companies a comprehensive approach for responding to uncertain economic times.
business_planning  management_consulting  niches  small_business  privately_held_companies  JCK  uncertainty  action_plans  mission_statements  goal-setting  implementation  organizational_structure  formalization  professionalization 
august 2012 by jerryking
Welcome home, Mr. MacIsaac
Jan 29, 2000 | The Globe and Mail pg. A.28 | by Murray Campbell. "

Executive members of the Toronto Police Association have
received advice from the Police Labor Institute, a Texas-based
organization whose motto is: "Change comes from power and power comes
from organization." Its director, Ron DeLord, is also president of the
16,000-member Combined Law Enforcement Associations of Texas. The
institute holds annual seminars on "power, politics and confrontation,"
where for $335 (U.S.) police unionists learn "how to become real power
brokers in the community.""
++++++++++++++++++++++++++++++++++++++++++++++
Bill Maher October 5, 2018.

Real power isn't about making a scene or what makes you feel good. Power begets power.
change  confrontations  ProQuest  Murray_Campbell  organized_labour  police_force  political_power  power  unions  quotes  police_unions  self-interest  interests  organizational_structure  power_brokers  systematic_approaches  Toronto_Police_Association 
may 2010 by jerryking
Bankers Need More Skin in the Game: Glassman and Nolan Say Private Partnerships Would Increase Risk Aversion Among Executives - WSJ.com
FEBRUARY 25, 2009 | Wall Street Journal | byJAMES K. GLASSMAN
and WILLIAM T. NOLAN. Op-ed piece.

(1) Partnerships may be a more trustworthy business model than
corporations.
(2) Alfred Chandler, the great business historian, said that "strategy
determines structure." Similarly, structure determines behavior.
Wall_Street  financial  crisis  risk-taking  risk-management  partnerships  financial_institutions  strategy  strategic_thinking  organizational_structure  behaviours  trustworthiness  risk-aversion  risk-preferences  skin_in_the_game  risks  Alfred_Chandler  human_behavior  business_history 
february 2009 by jerryking

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