The City of New York is considering suing BP for losses to its pension investments. (Reuters, June 24, 2010). They claim that BP misled them regarding safety procedures that led to the current oil spill. Perhaps that’s the case. Or, perhaps, as with any investment, they took a risk. At the time the investments were …
What is the relationship between price and cost in your company? Does that sound like an obvious question? In many companies price is driven by cost. The company determines the cost of its product or service and then sets the price based on its margin targets. But there is an alternative. Some companies start with …
“I have no idea what you just said, but it’s exactly what we need!” This is an actual quote from a senior executive at a major corporation. She wasn’t the first executive I’ve heard get excited about a proposal without understanding the context or facts. Unfortunately, as is often the case, while the sound byte …
Read more “I have no idea what you just said, but it’s exactly what we need”
The other day, my brother and I had a showdown at the cash register. We both wanted to pay for the purchase. I un-holstered my credit card while he drew a wad of cash. When the dust cleared, my credit card had been swiped and his cash lay silently on the counter.As we left the …
Read more “Thinking like an owner requires understanding like an owner”
I often have trouble filling out applications to speak at leadership conferences. Often they ask for four or five measurable objectives for the day. That’s not the problem. The problem is the way they want those objectives to be framed. The examples that they provide generally focus on discrete, tactical skills. My workshops don’t provide …
I was watching the new Bruce Springsteen DVD: London Calling. It has three hours of footage from his 2009 concert in Hyde Park. As I listened, something struck me. The crowd always seems to sing in tune. Now, I’ve been to concerts and have been part of the crowd. I know from experience that I …
Time have changed with regard to email hoaxes. In the old days, people would forward the most outrageous stories to you (and one hundred of their other friends) in an attempt to keep everyone out of harm’s way. Typically, after carefully reading the email and applying some common sense, I could tell that most likely …
Read more “Data and sources don’t guarantee accuracy – that’s your job”
I’d like to recommend a great new blog – State of Being by Joe Pulichene. In his profile, Joe describes himself as, “Just another average Joe.” But his insights are nothing of the sort. By reflecting on his own personal and professional experiences, Joe has stumbled on to a powerful model that can help us …
Read more “Another new blog – what state of “being” are you?”
I have a very simple definition of innovation. Innovation is overcoming constraints. That’s it. It doesn’t matter how fancy or how simple a solution is. If it is the first to overcome a constraint, it’s innovative. I discovered a wonderful, yet simple example of this recently. I downloaded an app called VQ Mileage Tracker for …
“Have you implemented this somewhere else already?” I hear this question a lot. As my friend Mark McDowell of Accenture once told me, “Most people want to be first to be second. Few want to be first.” It’s no wonder that most companies find themselves in a constant state of “catch up”. In the April, …