When considering institution and individual, is there a difference in the ethics? When you look at corporations, there needs to be an established culture of mutually accepted, shared values. It is commonly understood that the real test of personal and corporate values is stress. Just ask a company’s leaders who have to make a decision…
Every company has certain inflection points during its lifespan. Guiding them through these successfully are a clear vision, solid objectives, tools and processes. Or, they encounter pitfalls such as: insufficient accountability among the initiative owners, no clear roadmaps (actions, milestones, financial objectives), lack of resources/expertise, and/or failure to engage stakeholders/overcome institutional resistance/lack of prioritization. To…
Strategy is a framework within which you make the decisions that determine the nature and direction of your business (Source: Tregoe and Zimmerman, Top Management Strategy). “Hope” is not a strategy. Many believe that the five-year strategic plan…or even 3-year…is a thing of the past. They are subject to rapid displacement, disruptions, and destruction. Organizations…
…while hoping for B. This classic article from the “Academy of Management ” was published 20 years ago. However, it was originally rejected for publication and only an editor saved it to be printed. People seek information concerning what activities are rewarded. Their communication preferences are based on what is compatible with their personal interests…
There are many challenges when conducting global business. If you raise your voice, laugh passionately, touch your counterpart on the arm, or put a friendly arm around him – is this intrusive/lack of professionalism or entirely appropriate? The answer is that it depends on where you are. First, there are different norms of communication, and…
Should those in positions of leadership be held to a higher standard of moral and ethical conduct than ordinary citizens? Those who are entrusted with leadership bear a special responsibility to uphold the highest standards of moral and ethical conduct, both publicly and privately. It is reported that after a CEO mishap (i.e., affair, arrest,…
In 1960’s, the average lifespan of a Fortune 500 company was 75 years; today, it is less than 15 years, and getting shorter (Source: Korn Ferry). One-tenth of public companies disappear each year. That is 4x the mortality rate since 1965. The average life span of a company has halved since 1970. Their traditional source…
Your strategy should be the North Star that your organization is shooting for. The strategic direction resonates with the employees and provides guidance in day-to-day work. While you have to be flexible and reactive to today’s dynamic events, the overall direction remains the same even when you pivot short term. To build value, it is…
Chick-Fil-A is the most polite chain in the restaurant business (Source: QSR Magazine). Their teams offer speed and accuracy – as well as politeness (i.e., eye contact/smiling). Chick-Fil-A invests in employee training; providing more hands-on supervision to a franchisee, who is limited to only 1 store for maximum focus. While all of this sounds nice,…
In talking with Anne, her story of innovation is remarkable. Born into an Amish family, she started selling pretzels at a farmers’ market stand. From there, the business has grown to 1700 locations around the globe. However, it was not an easy path. This required the power to overcome obstacles, strong passion, and a position…
