Wednesday, February 21, 2024

avoid priority proliferation

To avoid priority proliferation, managers can inject discipline into the prioritization process by making choices more explicitly and systematically. At Diageo Ireland, for instance, issues are triaged into one of three categories: soft opportunities or threats, which receive ongoing monitoring but no action; hard opportunities or threats, which require immediate action and become a priority within the company; and nonissues, which are dropped from the agenda. Teams can also adopt a small set of simple rules to guide the prioritization process. Consider All America Latina Logistica S.A., which began life as a privatized branch of Brazil’s freight railway. The new company had only $15 million for capital spending to offset decades of underinvestment. So, to select from among countless capital budgeting proposals, management adopted a set of simple rules, such as “eliminate bottlenecks to growing revenues,” “lowest up-front cash beats highest net present value” and “reuse of existing resources beats acquiring new.”



Donald N. Sull

"Closing the Gap Between Strategy and Execution," MIT Sloan Management Review. July 1, 2007

Monday, February 12, 2024

your presence isn't really about you

So let's talk about Taylor Swift and the Super Bowl...

Swift was there, of course. For a while things looked tough for the Chiefs, until they won the game on a last-second touchdown pass in overtime.

Afterward, Swift made her way down to the field, where she reunited with Kelce....

I was curious what they would say to each other... But I also realized that it doesn't matter. What mattered much more is the fact that Swift was there.

Remember, in the days before the Super Bowl, one of the storylines was whether Swift would be able to make it to Las Vegas from Tokyo, where she had a concert Saturday evening, in time for the game...

The trip required Swift to leave immediately after her concert and fly for about 12 hours to Los Angeles, before a one-night stopover and then another hour flight to Las Vegas on Sunday. 

Obviously, Swift wasn't flying in the middle seat on a commercial flight, but it still took a significant effort. And, that effort is a statement...

Sometimes the thing that matters most is that you show up and support the people you care about when they're facing a challenge. 

So, you go to their games and performances. You applaud, you cheer; if they come up short, you're there for them.

You sit in on their presentations, if you're allowed; if not, you make sure to reach out to them and offer encouragement beforehand.

You stand by them in their hours of need. When they've fallen short at something, you tell them you still think they're great, and you believe in them, and they'll do better next time.

When they're sick or they have suffered a loss, you visit them in the hospital; you go to the funeral. 

You understand that your presence isn't really about you; it's about the other person. That's part of why you don't have to say very much sometimes, because being there speaks volumes. 

But if you're not there, you understand as a leader that the opposite is true, too: Your absence would speak volumes. 



Bill Murphy Jr.

"With Literally Zero Words, Taylor Swift Just Taught a Crucial Lesson in Leadership," Inc. Feb 12, 2024

Wednesday, February 7, 2024

the operating plan

The strategy process defines where a business wants to go, and the people process defines who's going to get it there. The operating plan provides the path for those people. It breaks long-term output into short-term targets. Meeting those here-and-now targets forces decisions to be made and integrated across the organization, both initially and in response to changes in business conditions. It puts reality behind the numbers. The operating plan is not budgeting for "We did better than last year." Such budgeting looks into the rearview mirror to set its goals; an operating plan looks forward to the hows.



Ram Charan 

Execution: The Discipline of Getting Things Done by Larry Bossidy & Ram Charan with Charles Burck. 2002. Crown Business, NY, NY. p. 226, 227

Tuesday, February 6, 2024

three nonnegotiable criteria

In November 2001 I was having lunch with the head of a consumer products company and his vice chairman. The company had been losing market share, and the discussion at the table identified the source of the problem: weak marketing leadership at the top. The company clearly needed to hire a chief marketing person - it would be a make-or-break job for 2002. The CEO had someone in mind. She had been recommended by Mark, the vice chairman, and the CEO sang her praises, saying, "She's great, fantastic." "In what ways?" I asked. When he answered in glittering generalities, I pressed and again asked why he thought she was so wonderful. Remarkably, he couldn't be specific, and his face turned crimson.

I asked the CEO and vice chairman what the three nonnegotiable criteria for the job were. After some discussion, they named the following: be extremely good in selecting the right mix of promotion, advertising, and merchandising; have a proven sense of what advertising is effective and how to best place this advertising in TV, radio, and print; have the ability to execute the marketing program in the right timing and sequence so that it is coordinated with the launch of new products; and be able to select the right people to rebuild the marketing department. 

After they articulated these criteria for the job, I asked whether the candidate met them. There was a long silence. Finally, the leader answered honestly: "You know, now I realize that I don't really know her." 

Neither the CRO, the vice chairman, nor anyone else in the organization had asked the right questions. To consistently improve its leadership gene pool, every business needs a discipline that is embedded in the people process, with candid dialogues about the matches between people and jobs, and follow-through that ensures people take the appropriate actions.



Ram Charan 

Execution: The Discipline of Getting Things Done by Larry Bossidy & Ram Charan with Charles Burck. 2002. Crown Business, NY, NY. p. 113, 114

Monday, February 5, 2024

the behavior of its leaders

The culture of a company is the behavior of its leaders. Leaders get the behavior they exhibit and tolerate. You change the culture of a company by changing the behavior of its leaders. You measure the change in culture by measuring the change in the personal behavior of its leaders and the performance of the business.



Dick Brown

Execution: The Discipline of Getting Things Done by Larry Bossidy & Ram Charan with Charles Burck. 2002. Crown Business, NY, NY. p. 105, 106

Sunday, February 4, 2024

quality of the dialogue

The reason most companies don't face reality very well is that their dialogues are ineffective. And it shows in their results. Think about the meetings you've attended - those that were a hopeless waste of time and those that produced energy and great results. What was the difference? It was not the agenda, not whether the meeting started on time or how disciplined it was, and certainly not the formal presentations. No, the difference was in the quality of the dialogue.



Larry Bossidy & Ram Charan 

Execution: The Discipline of Getting Things Done by Larry Bossidy & Ram Charan with Charles Burck. 2002. Crown Business, NY, NY. p. 103, 104

Saturday, February 3, 2024

robust dialogue

You cannot have an execution culture without robust dialogue - one that brings reality to the surface through openness, candor, and informality. Robust dialogue makes an organization effective in gathering information, understanding the information, and reshaping it to produce decisions. It fosters creativity - most innovations and inventions are incubated through robust dialogue. Ultimately, it creates more competitive advantage and shareholder value.

Robust dialogue starts when people go in with open minds. They're not trapped by preconceptions or armed with a private agenda. They want to hear new information and choose the best alternatives, so they listen to all sides of the debate and make their own contributions. 

When people speak candidly, they express their real opinions, not those that will please the power players or maintain harmony. Indeed, harmony - sought by many leaders who wish to offend no one - can be the enemy of truth. It can squelch critical thinking and drive decision making underground. When harmony prevails, here's how things often get settled: after the key players leave the session, they quietly veto decisions they didn't like but didn't debate on the spot. A good motto to observe is "Truth over harmony." Candor helps wipe out the silent lies and pocket vetoes, and it prevents the stalled initiatives and rework that drain energy. 



Larry Bossidy & Ram Charan 

Execution: The Discipline of Getting Things Done by Larry Bossidy & Ram Charan with Charles Burck. 2002. Crown Business, NY, NY. p. 102, 103

Thursday, February 1, 2024

you've got to make mistakes

No one does the leader's job flawlessly, believe me. You've got to make mistakes and learn from them. Yankees manager Joe Torree got fired three times during his career. Now he's looked upon as the icon of the game. He learned some things along the way. 

In his book, Jack: Straight from the Gut, Jack Welch freely admits he made many hiring mistakes in his early years. He made a lot of decisions from instinct. But when he was wrong, he'd say, "It's my fault." He'd ask himself why he was wrong, he'd listen to other people, he'd get more data, and he'd figure it out. And he just kept getting better and better. He also recognized that it's not useful to beat other people up when they make mistakes. To the contrary, that's the time to coach them, encourage them, and help them regain their self-confidence.



Larry Bossidy

Execution: The Discipline of Getting Things Done by Larry Bossidy & Ram Charan with Charles Burck. 2002. Crown Business, NY, NY. p. 83