There’s so much information around these days, how can we possibly deal with it all? Many of us are overwhelmed just by our email, so when you add in everything else (TV, books, newspapers, blogs, twitter, facebook, etc.), it’s just too much. And yet, we’ve always been faced with more information than we’re capable of […]
Let’s start with a business trivia question. In 2011 the Imax Group achieved an excellent profit result that delivered an S&P industry leading return on shareholder’s equity of nearly 50% over the financial year. In number two position was business information service McGraw-Hill at 42% ROE. Can you guess what type of business came in […]
How can established organizations innovate their business model? That is the question that I’ve been putting a lot of thought into recently. Two ideas collided this week that gave me some insight into the question. First, in the comments on my post about different business models leading to different outcomes, Greg Satell said: A business […]
I constantly run across blog posts, emails, and spam comments on the blog that promise to tell you the perfect strategy for getting a higher PageRank for your website, or more twitter followers, or a higher Klout score. And the problem with all of these strategies is that they are faulty. They might results in […]
I’m starting up a couple of live consulting projects with some of our MBA students. Even though we are very early in the projects, they have already reminded me of just how critical it is to develop the ability to live with uncertainty. This is the fundamental point that Jonathan Fields makes in Uncertainty: Turning […]
Of all the management writers I’ve read, Peter Drucker probably generates more interesting quotes per page than anyone. Tom Peters and Joseph Schumpeter come close too. Here are six thoughts triggered by reading his book Management Challenges for the 21st Century: And yet very few institutions know anything about the noncustomers—very few of them even […]
If the budget that you’re managing blows out one month and you’ve spent 200% of your allocated funds, what happens? In most organisations, a negative surprise like this leads to painful forensic investigations. To improve efficiency, it is important to stamp out negative surprises like this. Conversely, what happens if one of your revenue areas […]
One of the most common excuses I run across for not innovating is risk aversion. Organisations don’t innovate because they’re risk averse, or so they say. But is innovation really so risky? Yes, a new idea might not work. But in many cases, not innovating is even riskier. Here is how Peter Drucker puts it […]