Musings about Leadership, Decision Making, and Competitive Strategy
Friday, May 14, 2021
Becoming a Better Delegator
Wednesday, May 05, 2021
Speaking Up Effectively
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| Source: Flickr |
After facilitating a conversation the other day with a group of managers, I went back to review something I wrote back in 2009 in a book titled Know What You Don't Know. The managers asked me how one can dissent in the most persuasive and constructive fashion, particularly in situations where they feel as they the leader may not want to hear an opposing viewpoint.
Know your audience:
Learn about the person you are trying to persuade. Present your arguments in a
way that fits that person’s preferred mode of processing information.
Understand the history:
Determine who will feel most threatened by your attempts to shine a spotlight
on a particular problem. Avoid placing blame on that person; focus on how to
improve the situation.
Seek allies and build
coalitions: Strength resides in numbers. Find others who will support your
viewpoint. Present a united front.
Work through key confidantes
and gatekeepers: Identify the individuals who have the ear of the person you
ultimately must persuade. Seek them out and try to bring them onboard first.
Focus first on divergent
thinking: Remember that your near-term goal should not be to persuade
everyone to adopt your view immediately. Begin by simply trying to encourage
people to think differently about the situation at hand.
Present alternative solutions: Do not just point out the problem; offer a series of possible solutions. Make it clear that you want to help fix the problem.
Friday, April 30, 2021
Why Leaders Should Share Stories of Adversity & Failure
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| Source: Wikipedia |
Leaders should set high expectations for their team members, much as great teachers do. They should demand excellence and maintain high standards. At the same time, leaders have to instill a belief in their team members that these lofty goals are achievable. They have motivate others to work through adversity. Too often, employees perceive the path to success for senior executives as seemingly smooth and fast. They don't know about the obstacles, failures, and mistakes. Understanding the rocky nature of the path to success actually matters. Leaders who share stories of their own challenges and failures can actually motivate their employees more effectively than those that appear infallible. Moreover, sharing failure stories actually helps build pscyhological safety, as Amy Edmondson has argued. In Unlocking Creativity, I wrote about fascinating research by Xiaodong Lin-Siegler and her colleagues on this topic. Here's an excerpt:
Sources:
- Amy Edmondson. Teaming: How Organizations Learn, Innovate, and Compete in the Knowledge Economy. (San Francisco: Jossey-Bass, 2014).
- Kathleen Elkins, “The surprising dinner table question that got billionaire Sara Blakely to where she is today, Business Insider. April 3, 2015. http://www.businessinsider.com/the-blakely-family-dinner-table-question-2015-3 Accessed March 5, 2018.
- Shana Lebowitz, “A self-made billionaire explains how Britney Spears helped her teach a key business lesson to her employees,” Business Insider, June 22, 2016. https://www.businessinsider.com.au/sara-blakely-teaches-spanx-employees-to-embrace-failure-2016-6 Accessed March 5, 2018.
Wednesday, April 21, 2021
Creativity & The Power of Persistence
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| Source: Thrive Global |
Does our creativity diminish over time? Most people think so. They believe that that we are likely to generate our most creative and innovative ideas during the early stages of brainstorming. Unfortunately, people are being misled because they think that those ideas that are harder to generate (i.e., that take some time to surface) are less innovative. They are mistaken in that belief. Those ideas you generate quickly and easily are not necessarily your most creative concepts.
It's perhaps not surprising that people don't recognize the power of persistence when it comes to creativity. As brainstorming begins, people tend to generate lots of ideas. As time passes, it becomes more difficult to offer original ideas. The drop in quantity often leads to a drop in energy in the group. There's a sense that the team is floundering a bit. Those feelings likely cause people to conclude that they are not likely to generate highly creative ideas if they continue their conversation. Teams should not fall into this trap though. They should not confuse quantity with quality. Perhaps they need a break to achieve some pscyhological distance from the problem. However, they should not give up. They should persist.
Monday, April 12, 2021
Subtracting Features to Enhance Products: We're Biased Against Doing That
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| Source: Wikimedia |
Diana Kwon recently wrote a Scientific American article titled, "Our Brain Typically Overlooks This Brilliant Problem-Solving Strategy." She opens with an anecdote about how kids learn to ride a bicycle today versus in the past. When I was a kid, my father installed training wheels on my bike, as many other parents did. Today, more and more parents are opting to purchase balance bikes for their children. These two-wheel bicycles have no pedals. Kids learn balance and coordination on these bikes. Many say that these bikes are much more effective than training wheels. Kwon asks the question, "Given the benefits of balance bikes, why did it take so long for them to replace training wheels?"
Wednesday, April 07, 2021
How about Building a "To-Don't List" for Yourself?
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| Source: ideas.ted.com |
Diana Shi has written an article for Fast Company in which she describes how she tried to craft a "to-don't list" as a means of improving her effectiveness while working remotely. She defines it as follows: "In essence, the list is a curated collection of activities that can derail your energy and motivation. They’re often alluring but end up creating a distracting spiral, sapping you of your most productive hours." Shi began by reflecting on her daily activities and trying to identify those that derailed her and lowered her effectiveness and personal satisfaction. Shi discovered that the list helped her in several important ways:
Thursday, April 01, 2021
Teaching at Bryant University's College of Business
Monday, March 29, 2021
A Simple Strategy to Help Us Achieve Our Goals
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| Source: Gold Dust Dental Lab |
"In this study, we want to help you learn about an effective hack or strategy that someone you know uses as motivation to exercise. Over the next 2 days, we’d like you to pay attention to how people you know get themselves to work out. If you want, you can ask them directly for their motivational tips and strategies."
In other words, participants had to actively seek out goal achievement strategies from people they knew. They compared the behavior of participants receiving these instructions to a control group, as well as a group that passively received advice on how to meet exercise goals. In short, encouraging people to benchmark and learn from others is an effective way to nudge them toward putting in the work to achieve their goals. It's much better to encourage them to ask for advice rather than telling them what to do. It's simple and intuitive, and it's not a costly intervention. The scholars discovered that,
"A brief and virtually costless copypaste prompt improved goal-directed outcomes over the following week. Specifically, this nudge led to greater increases in the amount of time spent exercising than did passively receiving a strategy of similar quality, highlighting the value of actively finding goal-related strategies among one’s peers."
Why did this simple strategy prove effective? They provide several reasons.
1. Examining the effective strategies of peers raises the probability that individuals will actually employ advice. Moreover, hearing what works for their peers increases people's beliefs in their own abilities to achieve certain goals.
2. The advice may be more "customized and goal-relevant" since the individuals chose the peers from whom they wanted to learn.
3, People feel a sense of empowerment and autonomy when they seek out information and advice themselves, rather than being told what to do.
Monday, March 22, 2021
Demonstrating Impact, Showing You Care
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| Thasunda Brown Duckett, CEO of TIAA Source: WSJ |
In Google's Project Aristotle, Julia Rozovsky and her team identified the five most important attributes that distinguish the highest performing teams at the company from the lowest. Impact was one of these five characteristics. Rozovsky and her group defined impact as follows: "The results of one’s work, the subjective judgement that your work is making a difference, is important for teams. Seeing that one’s work is contributing to the organization’s goals can help reveal impact." What happens, though, if workers don't always feel as though they are having a significant impact on the company's broader goals and objectives. What if some workers never interact with customers, and thus, never see the positive effect their actions have on customer experience and satisfaction? Leaders need to bridge that gap. They need to create a "line of sight" between the workers' actions and the customer. They need to demonstrate and affirm that the workers are having an impact. In so doing, leaders also can show their front-line employees that they truly care about them and value their efforts.
Friday, March 19, 2021
Why Do Entrepreneurs Keep Entering Highly Unprofitable Industries?
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| Source: New York Times |
Students often ask me a question: "Why do entrepreneurs keep entering these industries with consistently low profits? Don't they understand how hard it is to make money in these markets?" What a terrific question! As I read a New York Times story this morning about two new upstart airlines, the question really hit home again. Why enter the airline business when it has been so unprofitable for decades? After all, Richard Branson has told a great joke about the business. He says that people always ask him how to become a millionaire. He says it's quite easy. You just start as a billionaire and then open an airline.
What is happening in these industries? For me, three factors explain the continued entry into unprofitable markets.
1. The low barriers to entry make it quite enticing for entrepreneurs. They don't see the major obstacles that often obstruct entry into other industries. They would love to be an entrepreneur, and they are looking for "easy targets" - i.e. markets that they can access more readily than some others.
2. They enter because, to them, it's a lifestyle business. They aren't think simply in terms of profit maximization. Fitness centers is a good example. People open gyms because they have a passion for fitness and wellness. They also would love to be their own boss. A similar phenomenon has emerged in the wine industry. Many people enter the business because of their passion for the art and craft of making wine. It's also a status symbol to enter the industry. Witness the celebrities who enter, including athletes, movie producers, and actors and actresses.
3. Entrepreneurs think to themselves, "I'm different. I'll be the exception to the rule." In fact, some of the most compelling business stories are those of firms that have made strong profits in very unattractive industries. People know the remarkable story of Southwest Airlines, or Ryanair in Europe. Or, they have observed the success of Planet Fitness and Trader Joe's (both companies about which I have written case studies - Planet Fitness case and Trader Joe's case). Therefore, entrepreneurs think to themselves, "I can do that!" Or, they look at the many failures in the industry and think, "That won't be me. I'm smarter than that!" Unfortunately, they often don't understand quite what that it takes to position a firm to survive and thrive in a very challenging industry. Hubris clouds their judgement as well.
Wednesday, March 17, 2021
Is Courage a Double-Edged Sword?
| Source: Wikimedia |
We all would like to believe that we have the courage to make difficult choices in our lives, whether they be personal decisions, or choices at work or about our careers. How does courage impact our decision making? Kellogg Professor Derek Rucker and University of Illinois-Chicago Professor David Gal set out to examine this question. They started by noting that a great deal of experimental research has documented the loss aversion phenomenon, i.e. the notion that losses loom larger than gains. Yet, they wondered why people actually make very bold decisions at times in their personal and professional lives. Loss aversion does not always seem to inhibit their ability to take a big swing. To examine this issue further, the scholars conducted several interesting experiments.
What do we make of these findings? Well, courage certainly is a desirable attribute. It enables us to make bold choices that can propel our organizations and careers forward. However, we have to wonder if our desire to feel and appear courageous might push us to make some rash or ill-advised decisions at times. Should we really approach the serious decision with a greater propensity to take risk as compared to the trivial decision? Is that an appropriate thing to do? Courage, it appears, is a double-edged sword.
Friday, March 12, 2021
Does Your Organization Have Good Mechanisms for Upward Feedback?
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| Source: picpedia |
TINYpulse has published a good blog post about employee retention. While the conclusions are not at all surprising, they are worth reviewing. As the economy recovers, retaining top talent will be a substantial challenge for many firms. Here's one key item from the blog post:
Sunday, March 07, 2021
It's Not So Easy to Walk in Someone Else's Shoes
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| Source: https://thejoyjourney61.wordpress.com/ |
Leaders can be much more effective if they demonstrate empathy for their team members. However, many of us struggle at times to empathize. In fact, quite surprisingly, we may empathize LESS if we have been in another person's shoes in the past, and we have faced simliar obstacles. Several years ago, Rachel Ruttan, Mary-Hunter McDonnell, and Loran Nordgren reported on some fascinating research they had conducted concerning our capacity to empathize. Here's an excerpt from their Harvard Business Review article, in which they summarize the findings from a series of experimental studies:
Monday, March 01, 2021
The Classic Traps Encountered by New Leaders
Friday, February 26, 2021
Stimulating Creativity & Innovation While Working From Home
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| Source: Pixabay |
S. Mitra Kalita wrote an interesting article for Fortune this week about unlocking creativity amidst the pandemic, with so many people working from home. Kalita writes:
Monday, February 22, 2021
Leading in a Fog: Discomfort with the What-If Questions
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| Source: Wikimedia |
I recently read Adam Bryant's interview with Penny Herscher, veteran Silicon Valley board director and CEO. He asked Herscher about lessons for leading "in a fog" - i.e., in a highly ambiguous, unpredictable environment. Herscher argued that management teams need to consider the tough, uncomfortable "what-if" questions. She explained:
Friday, February 19, 2021
Could Repeated Practice Reduce Creativity?
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| Source: Wikimedia |
Monday, February 15, 2021
Employee Performance Depends, in part, on Leader Mindset
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| Source: Wikimedia |
Katherine Muenks and her co-authors have published a fascinating article titled, "Does My Professor Think My Ability Can Change? Students’ Perceptions of Their STEM Professors’ Mindset Beliefs Predict Their Psychological Vulnerability, Engagement, and Performance in Class." In my view, this paper about teaching and learning has very important implications for leadership, employee engagement, and employee productivity.
Friday, February 12, 2021
Declare Your Unstated/Hidden Assumptions
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| Source: Wikimedia |
Managers many a number of crucial assumptions when they make strategic decisions or craft strategic plans. No strategy rests simply on a body of facts or evidence. Ambiguity and unpredictability about the future always reigns, and therefore, managers must build their plans based on certain assumptions. Of course, we often don't identify these assumptions explicitly. They remain hidden. Declaring your assumptions enables them to be discussed and debated. They can be tested and probed critically. Otherwise, managers may take certain assumptions for granted, treating them as truth, when they may actually be quite shaky. Several years, Mark Hollingworth wrote a good article for Ivey Business Journal, in which he explained the six primary benefits of including a statement of your assumptions any strategic plan:
- Inclusion facilitates the analysis of any organization’s business plan by a financial institution, venture capitalist or angel investor. The risk of making a bad investment will be reduced if the investors understand and share the strategic assumptions of the organization’s management team.
- Differences in points-of-view about strategic assumptions are the source of many of the conflicts that arise between investors and company management – and within a management team itself. Strategic assumptions represent the shared values, beliefs and vision of the management team. Demanding that they be included in a strategic plan will force management teams to hold the difficult internal conversations required and that allow them to uncover, challenge, and capture their shared assumptions.
- Knowing they need to exit a strategic planning process with a complete, shared set of strategic assumptions forces a management team to use a much more rigorous strategic planning process.
- Face-to-face, it is very difficult for most people to defend strategic assumptions which are ungrounded or that they do not believe or share.
- Developing and debating strategic assumptions with groups of employees is an excellent way to gain buy-in and commitment to the organization. Having to declare and justify the assumptions upon which a plan is built means that it is difficult for a CEO to impose his or her views. With increased levels of employee buy-in, there is a greater probability that the strategic plan will actually be implemented.
- By presenting strategic assumptions for rigorous debate and analysis, the probability is minimized that investors, employees, management and any other stakeholders will waste time, money and energy on trying to implement plans that have little chance of generating the promised results.
Friday, February 05, 2021
Super Bowl Coaches, The Curse of Expertise, and The Importance of Perspective Taking
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| Source: Sporting News |
As we approach the Super Bowl this weekend, here's a quick look back at the history of NFL championship coaches. The data are clear. In football, championships are generally not won by coaches who were formerly superstar players. 33 coaches have won the 54 Super Bowls that have taken place. Several coaches have earned multiple championships, including Bill Belichick (6) and Chuck Noll (4). Of those coaches, only 1 man made the Pro Football Hall of Fame as a player (Mike Ditka). Only 2 men earned Pro Bowl status as players (Mike Ditka and his mentor, Tom Landry, who made it to one Pro Bowl as a punter for the New York Giants in the 1950s). None of the other Super Bowl winning coaches earned Pro Bowl status as a player.


















