Last week, I talked with many executives who are asking the question, “what is the workplace impact of COVID-19?” In the short-term… Messaging: Don’t use a “Return to Work” announcement, as we are still working even when remote! Instead, call it “Return to Workplace” (not “Return to Office” as not everyone has an office). For some companies,…
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…
In 2000, 95% of the Fortune Global 500 were headquartered in developed economies. Today, large companies are based in the following cities (in order from most to least): Tokyo, NYC, London, Osaka, Paris, Beijing, Moscow, Seoul, Rhine-Ruhr, Chicago, Hong Kong, Taipei. Three-quarters of the world’s 8000 companies with annual revenues of $1B or more are…
In a popular HBR parable, not one person was willing to assume ultimate responsibility. Each person was willing to do his bit just as long as it was not too inconvenient (i.e., as long as it did not change their plans too much). Otherwise, they passed the buck to someone else. Can one discharge one’s…
Focused on their shareholder value, many companies are using cash for share buybacks instead of research and development. This step: Reassures investors that stock is attractive at that level Is viewed favorably, similar to dividend increases Reduces company’s outstanding share total, giving a lift to earnings per share This artificially bolsters the share prices to…
…Three important words that some leaders do not feel like they can say due to ego or pride. A leader must be secure enough to say, “I don’t know.” 40% of leaders are unprepared to meet the business issues they will face in the next 5 years (Source: Right Management). Surround yourself with smart and…
I toured Raytheon’s modernization and innovation center, where they are responsible for the integrated defense systems, including Israel’s “Iron Dome” and Patriot missiles. In order to be effective, they must balance execution and innovation. In addition, their increasing use of automation enables humans to focus more on value add activity, and the factory floor continuously…
