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jerryking : process-orientation   12

Eight steps to making better decisions as a manager - The Globe and Mail
HARVEY SCHACHTER
Special to The Globe and Mail
Published Sunday, May 08, 2016

Write down the key facts that need to be considered. Too often we jump into decisions and ignore the obvious.

Write down five pre-existing goals or priorities that will be affected by the decision.

Write down realistic alternatives – at least three, but ideally four or more.

Write down what’s missing. Information used to be scarce. Now it’s so abundant it can distract us from checking what’s missing (jk: i.e. the commoditization of information)

Write down the impact your decision will have one year in the future. By thinking a year out, you are separating yourself from the immediate moment, lessening emotions. [Reminiscent of Suzy Welch’s 10-10-10 rule. When you’re about to make a decision, ask yourself how you will feel about it 10 minutes from now? 10 months from now? and 10 years from now? People are overly biased by the immediate pain of some choice, but they can put the short-term pain in long-term perspective by asking these questions].

Involve at least two more people in the decision but no more than six additional team members. This ensures less bias, more perspectives, and since more people contributed to the decision, increased buy-in when implementing it.

Write down what was decided, as well as why and how much the team supports the decision.

Schedule a follow-up in one to two months.
Harvey_Schachter  decision_making  goals  buy-in  options  unknowns  following_up  note_taking  dissension  perspectives  biases  information_gaps  long-term  dispassion  alternatives  think_threes  unsentimental  Suzy_Welch  commoditization_of_information  process-orientation 
may 2016 by jerryking
How to Scale Yourself and Get More Done Than You Thought Possible
Understand Effectiveness Versus Efficiency

"Effectiveness is goal orientation. This is picking something to do. This is doing right things—picking a goal and doing that goal," Hanselman says. "Efficiency is doing things in an economical way, process-oriented.

"So phrased differently: Effectiveness is doing the right things, but efficiency is doing things right. That means effectiveness is picking a direction and efficiency is running really fast in that direction," he says.

"Effectiveness is doing the right things, but efficiency is doing things right."- Scott Hanselman

"When you realize those two things are different, it becomes an extremely powerful tool that you can use."
advice  effectiveness  efficiencies  goal-orientation  GTD  howto  personal_payoffs  personal_productivity  process-orientation  productivity  scaling 
march 2016 by jerryking
Giving Good Praise to Girls: What Messages Stick
April 24, 2013 || MindShift |Katrina Schwartz |

This research suggests parents and educators should rethink what implicit and explicit messages are being sent to young girls about achievement.

If adults emphasize that all skills are learned through a process of engagement, value challenge and praise efforts to supersede frustration rather than only showing excitement over the right answer, girls will show resilience.... “Mother’s praise to their babies, one to three years of age, predicts that child’s mindset and desire for challenge five years later,” Dweck said. “It doesn’t mean it is set in stone, but it means that kind of value system — what you’re praising, what you say is important — it’s sinking in. And the kids who are getting this process praise, strategy and taking on hard things and sticking to them, those are the kids who want the challenge.” Dweck understands it isn’t easy to praise process and emphasize the fun in challenging situations. Kids like direct praise, but to Dweck lauding achievement is like feeding them junk food – it’s bad for them.

[RELATED READING: How Important is Grit in Student Achievement?]

An implicit argument here is that failure in small doses is good. [JCK: Nassim Nicholas Taleb's concept of antifragility] Dweck’s not the first person to make that argument; advocates of game-based learning say one of its strongest attributes lies in a player’s ability to fail and start over without being stigmatized. Students learn as they go, getting better each time they attempt a task in the game. But the current education system leaves little room for failure, and consequently anxious parents often don’t tolerate small setbacks either.

“If you have little failures along the way and have them understand that’s part of learning, and that you can actually derive useful information about what to do next, that’s really useful,” Dweck said.

She believes families should sit around the dinner table discussing the day’s struggles and new strategies for attacking the problem. In life no one can be perfect, and learning to view little failures as learning experiences, or opportunities to grow could be the most valuable lesson of all.
antifragility  appreciation  conversations  daughters  dining  failure  family  feedback  girls  grit  hard_work  parenting  persistence  praise  process-orientation  resilience  values  value_systems 
april 2014 by jerryking
Learning to do in the Soo
Apr 01, 2001 | Profit . Vol. 20, Iss. 2; pg. 55 | Mike Delfre.

A one-industry town built on steel, Sault Ste. Marie, Ont. is not exactly an entrepreneurial hotbed. But it didn't used to be that way. Sault Ste. Marie began just over a century ago as a place where native trade flourished. Eventually it attracted entrepreneurs such as Francis Clergue, who built an industrial empire on the area's natural riches.

Entrepreneurialism seems to have vanished in recent years, as generations of Soo residents grew accustomed to holding jobs that someone else created. For years, Sault Ste. Marie has meant Big Steel. Like most people who grew up in single-industry towns, Saultites appear to have some difficulty recognizing the opportunities in a "knowledge-based" economy. We have checked our brains at the gate for so long.

While my entrepreneurship pitch often meets with glazed eyes, we've tapped into a high degree of latent interest in business creation. There is no shortage of ideas, or the desire to be rich. What has been lacking is a comprehensive process to nurture fledgling entrepreneurial spirits and turn ideas into action. Now that we have a process that seems to work, we have noticed a growing number of inquiries and more talk about business creation. In time, the need to "sell" entrepreneurship may be a thing of the past.
ProQuest  entrepreneurship  steel  single-industry_towns  Sault_Ste._Marie  process-orientation 
november 2011 by jerryking
How to Be Like Apple - WSJ.com
AUG. 29, 2011 | WSJ | RACHEL EMMA SILVERMAN. Driving
Innovation: Mgmt. experts say there are specific ways firms can generate
and execute new ideas. Solicit input. Great ideas come from all levels
of the organization, not just the top. Provide workers time for
"unofficial activity," set time to work on creative ideas. Executing
ideas is often tougher than generating them. Companies need a clear
process to prioritize, resource & test ideas quickly and cheaply, so
that they can afford to experiment...Observation can help companies
understand not just what people say they want, but what they really
need. Clay Christensen says P&G's new-product success rate in recent
yrs. came from observing that people were concerned about how their
clothes smell (Febreze) & were always looking for simpler ways to
clean the floor (Swiffer.). P&G overhauled its new-biz strategy
after realizing that just 15% of its ideas, developed in more of an
ad-hoc approach, were meeting revenue & profit targets.
Apple  innovation  execution  Vijay_Govindarajan  P&G  business_development  Clayton_Christensen  new_products  kill_rates  success_rates  systematic_approaches  ad_hoc  new_businesses  slack_time  companywide  observations  experimentation  primary_field_research  large_companies  Fortune_500  brands  unarticulated_desires  Michael_McDerment  ideas  idea_generation  process-orientation 
august 2011 by jerryking
How Angel Investors Get Their Wings
April 17, 2008 | Business Week | by Chris Farrell. "While many
angels are current or former entrepreneurs, and that background can
prove invaluable, they also need to develop investing skills. The
successful angel adheres to the same disciplines that make for a good
investor, from Berkshire Hathaway's ("BRK-A") Warren Buffett to Yale
University's David Swensen. Understand the risks. Follow an intellectual
framework. Have a well-thought-out methodology for buying and selling.
Do due diligence. Diversify. "Angel investing isn't easy, and it's very
high risk," says Tony Stanco, executive director of both the National
Council of Entrepreneurial Tech Transfer and of Angel Investors of
Greater Washington. "But it's high reward." "
angels  David_Swensen  diversification  due_diligence  frameworks  high-reward  investing  investors  process-orientation  risks  self-discipline  systematic_approaches  Warren_Buffett 
december 2010 by jerryking
My Week as a Room-Service Waiter at the Ritz
June 2002 | Harvard Business Review | by Paul Hemp.
Ritz-Carlton provides a good example of how employee engagement supports
its core customer service strategy. Part of the commitment of
Ritz-Carlton employees can be traced to how the company leverages one of
its great Genuine Assets, the Ritz-Carlton heritage and traditions.
Ritz-Carlton also carefully selects the right people through an
assessment system that focuses on personal qualities and attitude
critical to the company's success, rigorous training and reinforcement
of the Ritz-Carlton principles of customer service and process focus,
use of a guest-recognition database, and empowerment of employees to
take action to resolve customer complaints. Ritz-Carlton's employee
engagement and strategic communications activities are highly aligned to
support its competency strategies in operations, innovation, and
branding.
customer_service  employee_engagement  HBR  heritage  high-end  hiring  hospitality  hotels  luxury  process-orientation  Ritz-Carlton  selectivity  the_right_people  traditions 
march 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
Op-Ed Columnist - Genius - The Modern View - NYTimes.com
April 30, 2009 | New York Times | By DAVID BROOKS

The key factor separating geniuses from the merely accomplished is not a
divine spark. It’s not I.Q., a generally bad predictor of success, even
in realms like chess. Instead, it’s deliberate practice. Top performers
spend more hours (many more hours) rigorously practicing their craft.
It’s the ability to develop a deliberate, strenuous and boring practice
routine.
10000_hours  David_Brooks  dedication  education  genius  high-achieving  op-ed  overachievers  Pablo_Picasso  practice  preparation  process-orientation  psychology  rehearsals  routines  self-discipline  self-mastery  success  systematic_approaches  talent 
may 2009 by jerryking
Engineer a smooth takeover with five proven tips
https://hbr.org/2007/09/rules-to-acquire-by

09-17-2007 The Globe and Mail by Schachter, Harvey
MERGERS AND ACQUISITIONS - Taken from "Rules to Acquire" By Bruce Nolop, of Pitney Bowles. FROM THE SEPTEMBER 2007 ISSUE of the Harvard Business Review.

A close look at the world’s most successful companies reveals that, in general, they rely heavily on acquisitions to achieve their strategic goals......acquisitions can be faster, cheaper, and less risky than organic expansion. It’s a seeming paradox, until you realize what’s going on: Some acquirers have figured out how to do it right. Many have not.......Pitney Bowes embarked on our acquisition program.....they believed that they should develop a disciplined approach to making acquisitions and learning from them as an organization......More than 70 acquisitions later, they have a process firmly in place.......What’s behind the program’s success? ....a due diligence checklist that now covers 93 separate points of concern.....and a few key guidelines.

* Stick to adjacent spaces

Too many companies reach far afield when making acquisitions......Pick acquisition targets that are logical extensions of your company's current business mix, so they can be taken on incrementally. Such additions take advantage of the organization's tacit strengths - management know-how, customer insights, and cultural orientation - that are often ignored by more grandiose strategists. And they keep your brand consistent...... a 2001 McKinsey study: adjacent acquisitions correlate with increased shareholder value, whereas diversification into non-related areas actually reduces shareholder value. ....Profit from the Core author Chris Zook, looked for patterns in 2,000 companies’ growth initiatives and concluded that adjacent moves were the most successful.......Q: Can you really add more value to the target company than any other acquirer can?

* Bet on portfolio performance

Manage acquisitions like an investment portfolio, trying for multiple smaller acquisitions rather than one or two gargantuan bets. He notes that a Bain & Company study found the economic returns from acquisitions are greater if the purchase represents 5 per cent or less of the acquirer's market capitalization - so smaller is better. A portfolio approach keeps acquisitions to manageable size and hedges the risk that any one will go awry, producing more predictable financial results over time.......The classic benefit of a portfolio strategy, whether for acquisitions or any other type of investment, is that it produces more-predictable financial results over time.

* Get a business sponsor--No exceptions!

A clearly defined leader has to be personally focused on executing the business plan for the acquisition, assuring revenue targets and those often-elusive cost synergies.

That sponsor must drive the behind-the-scenes infrastructure projects that are essential to operational success, such as the integration of IT systems and HR policies, and develop strong relationships with the newly acquired management teams to ensure talent retention.

This can't be left to a corporate development group - it must be in the hands of an individual who is held personally responsible for the acquisition's success, and who reports regularly to the CEO and the board.

* Be clear on how the acquisition will be judged

You need to know exactly what you are seeking - what do you mean, exactly, when you talk of growth potential, or market development, or near-term synergies? For bolt-on acquisitions, which neatly fit into a business or market, financial returns should be more short term, while it will take longer for those benefits to accrue when the acquisition is a platform that takes you into a new, albeit still adjacent, business space or activity.

* Don't shop when you're hungry

What applies at the supermarket applies in corporate acquisitions. If you buy when you are hungry, you're likely to grab more than you need and be less price sensitive. On a strategic level, hunger can occur when you are seeking a missing element that you feel is urgently needed. Also problematic are acquisitions made to compensate for poor performance in existing operations.
adjacencies  bolt-on  buying_a_business  buyer's_remorse  CAMEX  checklists  Chris_Zook  clarity  due_diligence  emotional_discipline  growth  guidelines  Harvey_Schachter  HBR  leadership  M&A  McKinsey  mergers_&_acquisitions  metrics  organizational_learning  paradoxes  Pitney_Bowes  platforms  portfolio_management  process-orientation  rules_of_the_game  tips 
march 2009 by jerryking

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