swap the battlefield for the boardroom.

CEOs love a good war metaphor — “battlegrounds,” “offensives,” “fighting for market share.” It sounds bold. Strategic. Even inspiring.

But new research from João Cotter Salvado and Donal Crilly shows that this language may backfire — especially with financial analysts.

📉 Analysts interpret war metaphors not as strength, but as signals of recklessness and risk. In fact, just a 1% uptick in war-related language can lead to a 20% increase in negative analyst sentiment.

In volatile markets or for dominant firms, the effect is even worse.

💡 The takeaway? Words matter. Especially when the audience is trained to assess risk.

👉 Leaders: Swap the battlefield for the boardroom. Choose metaphors that signal stability, not chaos.

João Cotter Salvado and Donal Crilly

"Research: When CEOs Use War Metaphors, Analysts Worry," Harvard Business Review. January 3, 2025

#Leadership #Communication #Strategy #InvestorRelations #BusinessLanguage #CEOInsights

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

it's all about action

It’s all about action. Going out there, doing it, and taking all your negative bullshit along for the ride. It’s never going to get any better, any easier, or any more understandable. This is it, life is now and you’re never going to have a better moment than this.

Don’t know what to do or where to start? Good, that’s your first action. Find out, understand. Trawl the internet, read books, ask questions, take courses, seek advice, do whatever you need to do to unfu*k yourself and get into your life…

“Action may not bring happiness, but there is no happiness without action.” – Benjamin Disraeli

Gary John Bishop

Unfu*k Yourself: Get out of your head and into your life by Gary John Bishop. Harper One. 2017. p.135

i got this

“I got this…”

You can handle this. It’s not going to kill you. Your life isn’t over. You’ve got plenty more left in the tank. Plenty.

“I got this” doesn’t mean you have the perfect solution. It just means you have your hands on the wheel, you have a say in this just like you’ve had a say all along. I mean come on, you live for this shit!

It’s not always pretty. It’s not always fun but you’ve got this. We’re not just saying this to paper over the cracks or to make you feel a little better for a split second. Look at your track record; you’ve really got this! You’ll make it work, just like you always have. You had it then and you got it now…

I got this. I got this. I got this.

Gary John Bishop

Unfu*k Yourself: Get out of your head and into your life by Gary John Bishop. Harper One. 2017. p.91

important to reward failure

It's... important to reward failure. While incentives and goals matter, the act of considered risk taking itself needs to be rewarded, esp in face of failure. Otherwise people will simply not take risk. 

Laszlo Bock

"Work Rules! Insights From Inside Google That Will Transform How You Live and Lead", 2015, Hatchette Book Group.

multiple, simultaneous efforts

Most prescriptions for organizational change have focused on how to launch a single change initiative. This made sense in a stable world in which undertakings were planned and executed gradually and sequentially — like controllers directing airplanes taking off on a single runway, one at a time and well distanced from one another. However, the challenges of coping with dynamic markets, global crises, and advancing technologies are forcing organizations to transform quickly, which can require multiple, simultaneous efforts on several fronts. When time-pressured controllers launch many airplanes in close succession, the risk of collision increases significantly. Yet change managers have a very limited understanding of how such “collisions” happen or how to reduce those risks.

Failure to manage interrelationships between change initiatives can generate poor overall performance in three ways. First, it can lead to a large number of seemingly discrete initiatives with unclear prioritization and insufficient resources allocated for implementation. Second, it creates misaligned incentives for managers whose concern for their own key performance indicators inhibits cooperation across departmental siloes, when cooperation could better generate the desired benefits. Third, it prevents managers from perceiving connections between their own initiatives and those occurring elsewhere in the organization, creating unexpected conflicts about resource allocation or the timing of implementation. These conflicts undermine each change initiative and decrease overall corporate performance.

Quy Nguyen Huy, Rouven Kanitz, Julia Backmann, and Martin Hoegl

"How to Reduce the Risk of Colliding Change Initiatives," MITSloan Management Review. June 3, 2021

two preferred senders of change messages

Based on Prosci's change management research report with 650 participants, employees prefer two primary senders of change messages. Not surprisingly, they also prefer specific message content from each of these senders. Immediate supervisors are the preferred senders of messages related to personal impact including:

• How does this impact me? 
• How does this impact our group?
• How will this change my day-to-day responsibilities?

When it comes to personal issues, receivers want to hear from someone they know and work with regularly, namely their supervisor. 

CROs or executive leaders are the preferred senders of messages related to business issues and opportunities including: 

• What are the business reasons for this change?
• How does this change align with our vision and strategy? 
• What are the risks if we do not change?

When it comes to business issues and why the change is needed, receivers want to hear from the person in charge. 

Jeffrey M. Hiatt & Timothy J. Creasey

Change Management: The People Side of Change, by Jeffrey M. Hiatt & Timothy J. Creasey Prosci Inc. 2012. P.18, 19

who dares wins

Throughout my career, I always had great respect for the British Special Air Service, the famed SAS. The SAS motto was "Who Dares Wins." The motto was so widely admired that even moments before the bin Laden raid, my Command Sergeant Major, Chris Faris, quoted it to the SEALs preparing for the mission. To me the motto was more than about how the British special forces operated as a unit; it was about how each of us should approach our lives.

Life is a struggle and the potential for failure is ever present, but those who live in fear of failure or hardship, or embarrassment will never achieve their potential. Without pushing your limits, without occasionally sliding down the rope headfirst, without daring greatly, you will never know what is truly possible in your life. 

Admiral William H. McRaven (U.S. Navy Retired)

Make Your Bed: Little Things That Can Change Your Life... and Maybe the World. Grand Central Publishing. 2017. p.63

what ships are built for

 A ship in harbor is safe, but that is not what ships are built for.

John A. Shedd

Salt From My Attic. Mosher Press. 1928. As found in 2022 Great Quotes From Great Leaders Boxed Calendar: 365 Inspirational Quotes From Leaders Who Shaped the World. 

slow is smooth and smooth is fast

SEALs train with the philosophy slow is smooth and smooth is fast. That’s how movements and behaviors become muscle memory – something imperative in high-speed combat situations. When we are on an enemy target, we move smoothly and dynamically assessing risk and using speed and violence of action only when necessary.

Organizational change fails when companies move too quickly...  skipping fundamental elements such as aligned vision and culture. They run to their death and the change process eventually stalls.

Brent Gleeson

"9 Navy SEAL Sayings That Will Improve Your Organization's Ability To Lead Change," Forbes. July 23, 2018

bring data to the table

In the wry words of N.R. Narayana Murthy, former chairman of Infosys, “In God we Trust; everybody  else brings data to the table.” Managing the program dynamically depends on good data. You have to be clear from day to day how much progress you’ve made against your plans. That means regularly measuring the impact of your change program on at least four key dimensions:

1. Initiative progress. Track progress not just in terms of time (milestones) and budget (money spent versus planned), but also against key operational performance indicators (e.g., cycle time, waste, wait times, quality). 

2. Health impact. Are management practices and their underlying mindsets and behaviors shifting to support the improvements in performance that you want to see? Targeted analytics, surveys, focus groups, and observation can give you a good read.... 

3. Performance impact. Measure key business outcomes such as revenue, cost, and risk to confirm that improvements are happening where you expect and not causing unforeseen consequences elsewhere in the organization. 

4. Value creation. Keep a constant eye on the ultimate outcome that matters. In large-scale company-wide change programs, this measure is shareholder value creation…. It is vital to have a clear-eyed view of the ultimate outcome that maters most amidst all of the other data. 

Scott Keller and Bill Schaninger

Beyond Performance 2.0: A Proven Approach to Leading Large-Scale Change. John Wiley & Sons, Inc. 2019

allow yourself to fail in public

Risk, creativity and defining your own path is made possible only through a series of failures, some big, some small. Hide none of them. Take pride in your ability to recognize them faster and better than anyone else, and your drive to learn from them to improve yourself.

Advise given to Sarah Friar by Jack Dorsey

"'Allow yourself to fail in public': Read what Square CEO Jack Dorsey told his CFO after she took a top job at another company" by Javier E. David. CNBC. Oct. 13, 2018

a sense of urgency

Most successful change efforts begin when some individuals or some groups start to look hard at a company’s competitive situation, market position, technological trends, and financial performance. They focus on the potential revenue drop when an important patent expires, the five-year trend in declining margins in a core business, or an emerging market that everyone seems to be ignoring. They then find ways to communicate this information broadly and dramatically, especially with respect to crises, potential crises, or great opportunities that are very timely. This first step is essential because just getting a transformation program started requires the aggressive cooperation of many individuals. Without motivation, people won’t help and the effort goes nowhere....

A paralyzed senior management often comes from having too many managers and not enough leaders. Management’s mandate is to minimize risk and to keep the current system operating. Change, by definition, requires creating a new system, which in turn always demands leadership. Phase one in a renewal process typically goes nowhere until enough real leaders are promoted or hired into senior-level jobs....

In a few of the most successful cases, a group has manufactured a crisis. One CEO deliberately engineered the largest accounting loss in the company’s history, creating huge pressures from Wall Street in the process. One division president commissioned first-ever customer-satisfaction surveys, knowing full well that the results would be terrible. He then made these findings public. On the surface, such moves can look unduly risky. But there is also risk in playing it too safe: when the urgency rate is not pumped up enough, the transformation process cannot succeed and the long-term future of the organization is put in jeopardy.

When is the urgency rate high enough? From what I have seen, the answer is when about 75% of a company’s management is honestly convinced that business-as-usual is totally unacceptable. Anything less can produce very serious problems later on in the process.

John P. Kotter

"Leading Change: Why Transformation Efforts Fail" Harvard Business Review. May-June 1995

eyes on, hands off

There is clearly risk associated with empowering your team to make more and faster decisions at a lower-level than was previously the norm. As you take your hands off the wheel, you need to be more vigilant and aware than ever about the decisions your team is making. Provide your team with guidance on the decisions that you want to maintain, and then expect them to handle the rest by leveraging their increased connectivity internal and external to their team. Encourage an environment of transparency where the expectation is for people to be self-aware of when they need help, and are comfortable asking for it. Use every challenge your team faces as an opportunity for organizational learning, and you will quickly build trust in this new way of working.

Chris Fussell

"Eyes On, Hands Off: How to empower your team and get out of their way" Medium. March 15, 2017.

reinforce growth mindset

Mission statements are wonderful things. You can’t argue with lofty values like growth, empowerment, or innovation. But what do they mean to employees if the company doesn’t implement policies that make them real and attainable? They just amount to lip service. 

Organizations that embody a growth mindset encourage appropriate risk-taking, knowing that some risks won’t work out. They reward employees for important and useful lessons learned, even if a project does not meet its original goals. They support collaboration across organizational boundaries rather than competition among employees or units. They are committed to the growth of every member, not just in words but in deeds, such as broadly available development and advancement opportunities. And they continually reinforce growth mindset values with concrete policies.

Carol Dweck

"What Having a “Growth Mindset” Actually Means". Harvard Business Review. January 13, 2016.

having skin in the game

Over the entrance to a small paelstra –– a wrestling school — in ancient Greece was emblazoned this short phrase: Strip or Retire.

During this period, men competed in sports and exercised in the nude. Thus the inscription served as a challenge to each man entering the gymnasium: come in, participate, and struggle — or keep out. Mere spectators were not welcome.

To be part of this wrestling school, you were literally required to put your skin in the game.

In antiquity, such a requirement extended far beyond athletics; a man could not participate in civic life, business transactions, war, or philosophical debates unless he had metaphorical skin in the game — unless he was willing to risk his life, and what was even more valuable, his honor....

In times past, those in power accrued both privileges and responsibilities — with greater status came greater exposure to risk. It was surely good to be king, but you also had the “Sword of Damocles” hanging over you; your decisions could bring dire consequences, and people were always gunning to take you down. Military generals, rulers, criminal bosses, and even prominent writers and scientists accepted both greater status, and with it the persistent stress, fear, and anxiety of failing and making the wrong move.

In the modern age, this dynamic has been flipped. As philosopher Nassim Taleb argues in Antifragile: “At no point in history have so many non-risk-takers, that is, those with no personal exposure, exerted so much control.”...

In contrast to those who keep the upside of risk-taking while foisting the downside on others, are those who continue to stake their very reputation and whole being on their words and actions. Among those with skin in the game; entrepreneurs, business owners, artists, citizens, writers, and laboratory and field experimenters (as opposed to scientists and researchers who work only in the realms of theory, observation, and data-mining). These are the folks who take their own risks, and keep both their own upside and their own downside.

There is also a tier above this group — those rarified few who have put not only skin, but soul in the game. These are they who take risks, accept potential harm and hardship, and invest themselves in something not only for their own sake, but on behalf of others. These are the folks who make up the heroic class. Included amongst those with soul in the game; saints, warriors, prophets, philosophers, innovators, maverick scientists, journalists who expose fraud and corruption, great writers, artists, and even some artisans who add insight and meaning to our cultural storehouse through their craftsmanship and wares. Rebels, dissidents, and revolutionaries of all kinds are also of course worthy of the title....

Influencing others without skin in the game is dishonorable. As [philosopher Nassim] Taleb succinctly puts it: “I find it profoundly unethical to talk without doing, without exposure to harm, without having one’s skin in the game, without having something at risk. You express your opinion; it can hurt others (who rely on it), yet you incur no liability. Is this fair?”...

That greater participation and/or power requires greater skin in the game is truly one of the fundamental tenets of human morality.

There is no growth and joy without risk and struggle. While putting one’s skin in the game is both moral and honorable, it is not an entirely altruistic endeavor. It also greatly benefits yourself — not always monetarily (though it can), but in refining your character and your manliness. Manhood is struggle — full stop. Outsourcing the risk side of your pursuits puts you in the position of spectator rather than doer. As Jay B. Nash writes in Spectatoritis, while sitting in the stands is safer, it is far less satisfying than being in the arena.

Brett and Kate McKay

Strip or Retire: Why Every Man Should Have Skin in the Game. The Art of Manliness. 8/9/2015

8 executive habits for safety leadership

1. Executives must lead by example in the area of safety as well as every other aspect of ethical business. This includes, for example, the correct wearing of appropriate PPE in the workplace. One minor lapse observed by persons two levels down in the organization will undo untold other positive efforts to achieve excellence in workplace safety.

2. Executives must verbally communicate about safety in meetings with other managers. While what people do is sometimes more telling than what they say, it is the rare executive who can effectively lead without verbal articulation of his position on the matter. What executives say to each other one-on-one about safety while safety staff or other support staff is not present speaks volumes and has the greatest effect on crucial aspects of company culture.

3. Executives must put their money where their mouths are and fund safety adequately. This does not mean employing arbitrarily large staffs of SH&E professionals. Instead, it means in all business decisions that executives seek to treat the safety of all employees as the ethical right thing to do, a prudent act use of corporate funds and of corporate governance, and an intangible factor of business relationships that is almost always also a good investment.

4. Executives must hold their subordinates accountable for managing safety and must require that subordinates report on safety matters. Make sure that the roles and responsibilities for safety and health are defined (in writing and in practice). Doing so is part of treating safety just like any other important part of the business. Safety should be simply part of an overall performance measurement process.

5. Executives must provide appropriate feedback regarding safety performance. Monitor the results of management system audits and provide feedback. Personally praise exceptional performance, ignore average performance and confront substandard performance on the part of subordinate operations managers/supervisors. Realize that human exposure to injury risk has an element of randomness and may not be well described by current statistical analysis methods such as the frequency rate of recordable, reportable or lost-time injuries. Therefore, acknowledge and appropriately reward efforts in risk-reduction even if short-term injury results are poor.

6. Executives must make sure that the risk profile of the organization is continuously improved. New hazards and potential risks to the business (not just safety or health) are introduced continuously, and large corporations that are good managers of risk will be successful in the long term. When something bad happens—and it will—get to the root cause and try to systemically build in whatever must be feasibly done to ensure that it won’t happen again.

7. Executives of organizations that use potentially toxic materials must ensure that there is long-term support for the anticipation, recognition, evaluation and control of industrial hygiene in the organization. The past actions or inactions of corporations in the developed world are judged today by a society with extremely high expectations as compared to even the recent past. One can safely assume that societal norms for a safe and healthy work environment will continue to increase in the future in all countries of the world.

8. Executives must ensure that safety and health processes are being fully integrated into the primary management system processes of the business. Safety and health cannot be effectively managed long-term separate from the management of the routine affairs of the business. In today’s companies, this includes the deep integration of safety and health matters into systems such as the enterprisewide management software and process control systems.

Dan Petersen and Kyle Dotson

"Eight Executive Habits for Safety Leadership" Professional Safety. Nov. 2006.

whatever a man does, he’s bound to take some risks

…in the late 1860’s… Papa and a bunch of other Salt Licks formed a “pool herd” of their little separate bunches of steers and trailed them to the new cattle market at Abilene, Kansas.

This was to get “cash money,” a thing that all Texans were short of in those years right after the Civil War. We lived then in a new country and a good one. As Papa pointed out the day the men talked over making the drive, we had plenty of grass, wood, and water. We had wild game for killing, fertile ground for growing bread corn, and the Indians had been put onto reservations with the return of U.S. soldiers to the Texas forts.

“In fact,” Papa wound up, “all we lack having a tight tail-hold on the world is a little cash money. And we can get that in Abilene.”

Well, the idea sounded good, but some of the men still hesitated. Abilene was better than six hundred miles north of the Texas hill country we lived in. It would take months for the men to make the drive and ride back home. And all that time the womenfolks and children of Salt Licks would be left in a wild frontier settlement to make out the best they could.

Still, they needed money, and they realized that whatever a man does, he’s bound to take some risks.


Fred Gipson
Old Yeller. Haper Collins. 1956.

thoughts for managing a creative culture

John Lasseter and Ed Catmull, VES Awards. 2/28/2010

Here are some of the principles we’ve developed over the years to enable and protect a healthy creative culture. I know that when you distill a complex idea into a T-shirt slogan, you risk giving the illusion of understanding – and, in the process, of sapping the idea of its power. An adage worth repeating is also halfway to being irrelevant. You end up with something that is easy to say but not connected to behavior. But while I have been dismissive of reductive truths throughout this book, I do have a point of view, and I thought it might be helpful to share some of the principles that I hold most dear here with you. The trick is to think of each statement as a starting point, as a prompt toward deeper inquiry, and not as a conclusion.

• Give good idea to a mediocre team, and they will screw it up. Give a mediocre idea to a great team, and they will either fix it or come up with something better. If you get the right team right, chances are that they’ll get the ideas right.
• When looking to hire people, give their potential to grow more weight

make room for what they do not know

I believe the best managers acknowledge and make room for what they do not know – not just because humility is a virtue but because until one adopts that mindset, the most striking breakthroughs cannot occur. I believe that managers must loosen the controls, not tighten them. They must accept risk; they must trust the people they work with and strive to clear the path for them; and always, they must pay attention to and engage with anything that creates fear. Moreover, successful leaders embrace the reality that their models may be wrong or incomplete. Only when we admit what we don’t know can we ever hope to learn it.

Ed Catmull

Creativity, Inc.: Overcoming the Unseen Forces That Stand in the Way of True Inspiration. Random House 2014.