Browse by Tags

KnowNOW!

Global Economic Watch

Syndication

Recent Posts

Tags

Archives

  • 'Coffee is for closers,' and Other Rules for Startups, from Mark Cuban

    Mark Cuban has had a great deal of success starting companies, and leading them, in his way. He believes in keeping companies flat, fun, and focused. At Entrepreneur , he lists 12 rules for the people who start new businesses, and for potential employees of startups. A few of Cuban's rules might sound familiar, but they are worth highlighting. Like rule #4: Sales Cure All. Know how your company will make money and how you will actually make sales. and #5: Know your core competencies and focus on being great at them. Pay up for people in your core competencies. Get the best. Outside the core competencies, hire people that fit your culture but aren't as expensive to pay. But we also find it interesting that Cuban clearly feels strongly about the type of environment that he believes foster success. For example, #7: No offices. Open offices keep everyone in tune with what is going on and keep the energy up. If an employee is about privacy, show him or her how to use the lock on the bathroom. There is nothing private in a startup. This is also a good way to keep from hiring executives who cannot operate successfully in a startup. My biggest fear was always hiring someone who wanted to build an empire. If the person demands to fly first class or to bring over a personal secretary, run away. If an exec won't go on sales calls, run away. They are empire builders and will pollute your company. Read Mark Cuban's 12 Rules for Startups here .
  • Leadership and Personality

    Just as we need some strong leadership in the policy arena to help right the global economy, businesses need strong leaders of their own to drive success in the workplace. Does that mean businesses need charismatic leadership? Not necessarily, says Jim Collins . Collins has seen highly charismatic leaders succeed, and he has seen abrasive leaders succeed. Strong leadership is not about personality, says Collins in this Big Think interview, but rather, zealotry:
  • Walter Isaacson on Steve Jobs

    Walter Isaacson has been hard at work finishing his biography of Steve Jobs . The book, out today, is the result of 40 interviews that Isaacson conducted with Jobs, and many more with Jobs's friends family and colleagues, over the last seven years. Isaacson spoke about Jobs on 60 Minutes . Here is an excerpt, in which Isaacson discusses Jobs's personal life, his early days as a complicated colleague at Atari, and how he and Steve Wozniak founded Apple computer from his parents' garage. We find the second half of this segment particularly interesting, as Isaacson discusses what some Apple employees refer to as Jobs's "reality distortion field," which seems to have made him a very difficult friend and colleague, but perhaps also explains some of his more surprising successes as a business leader. Watch the full interview here .
  • Harvard Business Review: 'Managing Values Across Cultures'

    Most corporations are global businesses now. If the workforce is not based in different cities and nations, then the employees are at least from a variety of cultures. This presents opportunities and challenges. Harvard Business Review asked several management scholars to weigh in on what values are required to effectively manage across cultures: Empathy? Cultural intelligence? Open-mindedness? What are the values required to lead a global workforce?
  • Five Personality Factors for Successful Entrepreneurs

    At Forbes , Mary Frakes and Thomas Harrison teach us about five personality factors they say are key in assessing whether one has the necessary makeup to be a successful entrepreneur. The first four may seem obvious: Openness to Experience Conscientiousness Extroversion Agreeableness The fifth personality factor stands out a bit: Neuroticism . Here's how Frakes and Harrison introduce this trait: This one's a biggie. Neuroticism measures how strongly and negatively you react to the stresses of life. Highly neurotic people have strong emotional reactions to problems and take a long time to get over bad moods, anger or hostility. They often feel anxious or depressed, and are seen as worriers. Those at the other end may not always be happy or cheerful, but they don't tend to be overwhelmed if they occasionally feel depressed, anxious, or angry. Such equanimity gives them an advantage as entrepreneurs because they tend not to let snags get them down. Frakes and Harrison provide a quiz that examines one's neuroticism, and the other 4 factors, as a means of determining whether one is better suited to work in a company or for herself/himself. Take the quiz here , and then read more on the methodology here .
  • Small Business Trends: Managing and Marketing Expertise in Today's Economy

    Diane Helbig says we are living in an "expertise economy." With all the tools consumers have to do their own research, Helbig says what business owners know is as important as what they make. Writing at Small Business Trends , Helbig shares some best practices for businesses in this new economy. One of the parctices she encourages is to "build a community": Find experts in other fields that are complementary to yours. Invite those experts to share their information with your audience. Build a foundation of experts so your audience sees you as a go-to company whenever they need information – even outside of your area of expertise. Szarka Financial in North Olmsted, Ohio, is a great example of this practice. Not only have they developed programs that they offer around their industry, but they have gathered a stable of experts in various areas that touch theirs. They have established their firm as a go-to source for people who are looking for information in and around the area of personal and business finances. They understand that they aren’t going to do business with everyone. However, sharing information with everyone helps consumers decide if Szarka is right for them and provides Szarka with a great referral pool. Actually, two referral pools: (1) the partner organizations they promote, and (2) the people who take advantage of the information Szarka and their partners share. Read 3 Steps to Succeeding in the Expertise Economy here .
  • Motivating the Twenty-First Century Workforce

    Big Think has begun a new series titled Inside Employees' Minds: Navigating the New Rules of Engagement . The series is a response to new data that suggests employees are now more interested, and more willing, to look for a chance to leave their company for a better job. If this is a real problem, as the surveys suggest, then it means that managers and executives must reconsider how they are working to keep their employees happy. Roger Martin , dean of the Rotman School of Management at the University of Toronto, argues that the workers of the 21st century--especially Millenials--need to have a stronger sense of purpose in their work than simply "the singular goal of maximizing the value for faceless, nameless people." And if companies want to get anything out of this workforce, and to not be stuck training new employees over and over again, they will need to comply. Read more about the Big Think series here .
  • Using 'Childhood Cues' to Encourage Ethical Workplace Practices

    Many managers work hard to stop their employees from behaving like children. But, it may be that having some reminders of childhood in the workplace encourages more responsible behavior. Sreedhari Desai , assistant professor at the UNC Kenan-Flagler Business School, conducted some workplace research in which she brought elements of childhood into office settings--stuffed animals, nursery rhymes. She found that having the "childhood cues" sparked more ethical behavior. She explains the findings in this Harvard Business IdeaCast interview:
  • John Abele on Managing Collaboration

    Successful companies depend on successful collaboration: employees working together whether they like each other or not. If the collaboration is not working, don't blame the employees. Blame the leader. So says John Abele , cofounder of Boston Scientific . Abele writes about managing successful collaborative efforts in the Harvard Business Review article, Bringing Minds Together . Abele discusses managing collaboration in this HBR IdeaCast interview:
  • Baby Steps and Winning at Work

    Harvard Business School professor Teresa Amabile says wins in the workplace are fundamental to creative workers' productivity. The wins don't need to be big. The smallest of wins matter more than a lot of us realize, as they signify progress on a daily basis. Amabile, who wrote The Progress Principle with psychologist Steve Kramer , recently discussed the power of forward progress and small wins with Harvard Business Publishing 's Sarah Green :
  • Workplace Design with an Eye Toward Idea Flow

    Now for a lesson in the importance of the 'form follows function' philosophy. As the head of Perkins+Will , Gina Berndt has been designing work environments for more than 30 years. Through those years of experience she says she has come to develop key insights into what makes a company tick. And she approaches office design with an eye toward playing to a company's inherent strengths. One key factor for any company's success is the flow of good ideas. In an article for Fast Company , Berndt shares some of her views of what makes for a healthy environment for idea generation and development. We are stuck by how much the tips listed below can double as tips for designing workspaces and designing organizational structures: 1. Engage different perspectives. 2. Provide an anchor. 3. Design for efficiency. 4. Support different working styles. 5. Adapt to technology. 6. Embrace shifting demographics. 7. Address wellness holistically. 8. Express your brand. Read 8 Keys To Creating An Office Where Ideas Flow here .
  • 'Hyperspecialization' and the Future of Work

    MIT Sloan School of Business professor Thomas Malone says the information age has brought about a new phenomenon in the workplace. Writing in the Harvard Business Review ----with co-authors Robert J. Laubacher , and Tammy Johns --Malone calls the new dynamic "hyperspecialization." With the ability to communicate across the world in real time, workers can collaborate like never before. And that means that businesses no longer have to find generalists--people who can handle a wide variety of tasks. Rather, specialists can team up on projects, with each worker's specific skills complementing those of others on the team. Of course, there are echoes of the early days of industrialization in this new collaborative workplace--and Malone refers to Adam Smith's prediction that the division of labor would come to define business structures. Here is Malone discussing the impact of the division of labor in today's workplace on the way companies do business in Harvard Business Publishing's IdeaCast : Read The Big Idea: The Age of Hyperspecialization here .
  • McKinsey Researchers Explore Potential 'Globalization Penalty'

    Top global businesses appear to be less healthy than their locally focused counterparts. That's the finding of McKinsey researchers Martin Dewhurst , Jonathan Harris , and Suzanne Heywood , who matched organizational health scores--from McKinsey's own organizational-health index database--with top performing multinationals and top local companies. And they found this: The authors write, in the McKinsey Quarterly : To understand what lies beneath these findings, we interviewed executives at 50 global companies. Those interviews, while hardly dispositive, suggested a relationship between organizational health and a familiar challenge: balancing local adaption against global scale, scope, and coordination. Almost everyone we interviewed seemed to struggle with this tension, which often plays out in heated internal debates. Which organizational elements should be standardized? To what extent does managing high-potential emerging markets on a country-by-country basis make sense? When is it better, in those markets, to leverage scale and synergies across business units in managing governments, regulators, partners, and talent? One global company, hoping to realize the benefits of scale and, simultaneously, of focusing intently on India and China, recently started deploying business unit “CEOs,” whose responsibilities cut across both of those high-growth markets. Complicating matters further, our interviews suggested that, for most companies, about 30 to 40 percent of existing internal networks and linkages are ineffective for managing global–local trade-offs and instead just add costs and complexity. Many companies, for example, can’t identify transferable lessons about low-income consumers in one high-growth emerging market and apply them in another. Some struggle to coalesce rapidly around market-specific responses when local entrants undermine traditional business models and disrupt previously successful strategies. Read Understanding your ‘globalization penalty’ here .
  • Startup Success and Getting the First Hires Right

    Gurbaksh Chanal has successfully built a few companies, and he has come to believe that the potential success of any new business depends on the first hires. The first five hires are especially important. Get them wrong and the company will not take off. Chanal wants his first hires to be hungry. He explains his hiring philosophy in this short interview at Big Think :
  • Leadership Lessons from the Chilean Mine Rescue

    Michael Useem , director of the Wharton School's Center for Leadership and Change Management , has a new book out in which he shares 15 principles that can guide leaders through the most difficult challenges. The Leader's Checklist covers lessons from history, including recent history like the collapse of AIG and last year's remarkable rescue of Chilean miners. Useem discussed the latter with Chile mining minister Laurence Golborne . Useem calls the rescue an important leadership moment. Here is a video of their conversation: Useem's book is available as a free download until June 28. Click here for details.
1 2 3 4 5 Next > ... Last »