There are many frequently debated but ultimately unanswerable questions such as leader vs manager and strategy vs execution. One that gets less attention – but is just as important – is the question: rules or standards? In law, the distinction is clear and the choice is somewhat obvious. Rules differentiate legal from illegal behavior, hopefully…
The benefits of having a mentor are well known and well documented, ranging from increased self-confidence to more promotions and higher pay. This is especially true when mentorship turns into sponsorship. But what about the benefits of an anti-mentor? A strong mentor provides guidance and advice to a less experienced and usually younger person, often…
Remember the saying that a chain is only as strong as its weakest link? It’s a concept we inherently understand: if we pull on the chain, the weakest link will fail first which breaks the entire chain. Sometimes people invoke the metaphor to explain why we should concentrate on helping the lowest performers in a…
Why do people make decisions that don’t seem to make sense? Game theory provides a potential answer called the prisoner’s dilemma. The prisoner’s dilemma explains why people make decisions which are good for themselves but not for the team. Even if you didn’t learn about it in economics class, you probably recognize the prisoners’ dilemma…
“Your mission, should you choose to accept it.” It’s been nearly 25 years but I still vividly remember those words from the television show Mission Impossible. At the time, I didn’t realize it was a remake of the original show which aired 25 years before that. I also didn’t realize the two series might have…
Seven years ago (!) I wrote a blog titled Management by Marching Around which suggested that traditional command and control leadership no longer worked in business – or in the military. Instead, I believe in management by influence (suggesting direction) more than by control (enforcing rules). I also recommend management by exception (tell me about…
In a world filled with electronic devices, I still get great satisfaction by crossing out items on a handwritten to-do list. In fact, I find that I am more likely to complete a task if I write it down on a piece of paper. Much more likely than if it’s on an electronic list or…
The buzz around big data is deafening but I believe that much of the conversation has missed the point. Big data is not just a technological challenge; it’s a cultural challenge. Collecting and analyzing data is not enough. We need to start with business outcomes to truly leverage big data. Culture trumping technology was the underlying…
The 1993 HBR article ‘Customer Intimacy and Other Value Disciplines’ argued every company had to become champions of one of three value disciplines — operational excellence, customer intimacy, or product leadership. Since that book was published, virtually every business meeting I’ve been in has used at least one of these phrases to describe strategy. Value…
What was the first fast food company?What was the first credit card company? Most people probably don’t know the correct answers are White Castle and Diners’ Club. While both companies still exist, they now have relatively small share in what has turned out to be very large markets. As I’ve previously argued, the benefits of first mover…