Tom SpencerLearning is a natural process, but management still has a role to play (Source: Flickr) FOLLOWING on from our post on learning from experience, in which we discovered that learning by doing is a natural process, we are finally delivering what we promised – a post which explores some ways that management can help. Learning may […]
The hard part about pursuing a new idea is not the idea itself. There are thousands of good ideas shared every day online for free. Nor is it the risk of financial failure since it is easier than ever to pick yourself up, dust yourself off, and start again. The real risk that the trail blazers face is a […]
“All courses of action are risky, so prudence is not in avoiding danger (it’s impossible), but calculating risk and acting decisively. Make mistakes of ambition and not mistakes of sloth. Develop the strength to do bold things, not the strength to suffer.” ~ Niccolò Machiavelli
Success is what you attract by the person you become (Source: Flickr) THE late Jim Rohn once said, “success is what you attract by the person you become”. A pithy saying, but how do you become a person who attracts success? Here are seven thoughts to get you going: Skill development – It is natural to learn from experience and […]
Subtitle: Get over yourself. Great business ideas are usually created by others. Are you ready to receive them? (Source: Flickr) IF you counsel a young child (or grown adult) on the merits of humility, we will not raise an eyebrow. Humility is an admirable quality and has an endearing appeal, much like a puppy dog or a baby in a bassinet. We approve, and quickly […]
A natural and unstructured process that results from doing the work LAST week we looked at the value of breaking with experience, which followed on nicely from our initial article on the Experience Curve. This week we focus on learning from experience. What does it mean to learn from experience? And what role does management have to […]
Independence of thought, acceptance of difference “Tolerance implies no lack of commitment to one’s own beliefs. Rather it condemns the oppression or persecution of others.” ~ John F. Kennedy “In the practice of tolerance, one’s enemy is the best teacher.” ~ Dalai Lama “Religion is like a pair of shoes … Find one that fits […]
Innovation involves breaking with the past to create something even more remarkable (Source: Flickr) THE traditional Experience Curve focuses on increasing production experience which leads to predictable cost reductions. This kind of experience is relevant in industries that are relatively stable, competitive, and production-intensive. (Source: Wikipedia) But what about high tech and creative industries where the lifecycle […]
THE wonderful thing about humans is our ability to move through time and space, without going anywhere at all. The ability to think about the past allows us to reflect on experiences, our own or those of others, and to learn from them. Your author used to wonder at length during his high school history classes about the […]
The night is darkest before the dawn. Keep moving. You’re closer than you think. “You will make mistakes. Are you going to be able to get up off the ground when you get smacked down, and keep driving. Persistence and resilience are very important, and there are going to be very difficult trade-offs to make, […]
The Experience Curve captures the relationship between increasing production experience and declining costs (Source: Flickr) Background The Learning Curve, the concept which predates the Experience Curve, was first described by German psychologist Hermann Ebbinghaus in 1885 as part of his studies into human memory. In 1936, T.P. Wright described the effect of learning on production […]
The mind is a muscle, and meditation is a form of stretching MOST PEOPLE wouldn’t find it strange if you told them to stretch their muscles before running a race. Stretching limbers up the muscles, increases performance, and reduces the risk of injury. And yet, and yet, every day people around the world turn up for work and run a mental […]
Or just getting paid? IF you continue with your current line of work, will you be more capable, better known and have a stronger network in 12 months time? Or will you just be one year older, one pay grade higher, and one step closer to that “promised” promotion? Financially richer, yet one year poorer at the same time. […]
Making the most of right now ANGER and hatred result from clinging to past experiences. By refusing to accept things you cannot change, you lose your peace of mind, waste mental energy, and remain trapped by events which didn’t kill you yet leave you permanently diminished. Better to let the bad stuff go. Ambition and anxiety result from restlessly anticipating the future. […]
HAVE you ever wondered why cereal boxes often contain a free toy, prize or collectible? The answer is simpler than you might think. The children are the target audience, while the parents fund the purchase. The kids want the toy, while the parents want cereal for their children but are largely indifferent about which sort of cereal because they’re not going to eat it themselves. […]
Is Not A Strategy MANY FIRMS and many people live their lives by chasing the trend. They ask themselves questions like, what’s popular? What are other people doing? What’s the “it” thing? They then chase the trend in an attempt to ride the wave of prosperity and capture some of the growth, glory and profits for themselves. This may work […]
Watch Joi Ito’s TED Talk on innovation, connection and making the most of right now
An act of personal empowerment that gives you freedom from the past and allows you to retain the initiative (Source: Flickr) FORGIVENESS is a noble sentiment, but shouldn’t our tormentors be punished? What about truth? What about justice? What about revenge? Breathe, breathe, everything will be okay. The deceptions and betrayals of those around us can sometimes infect and overwhelm the mind. The […]
If you are there for them, they will be there for you WHEN it comes to marketing, you have a choice. Chase new customers, or care for the ones you already have. Buy a million dollar Superbowl ad, or do the hard work of creating remarkable products for the people who care. Pursue the glittering promise of untold wealth by […]
Holding a grudge is like drinking poison, and wishing your enemies would die. Let it go, keep moving, and retain your freedom. Or, as Oscar Wilde put it, “always forgive your enemies, nothing annoys them so much.”
If you’re waiting for the bus, and missing it throws out your whole day, then you’re a tourist. Some people go through life this way. High school, university, respectable office job, marriage, house, children, death. A safe bus ride with a predictable number of stops. There is an alternative, but it won’t fit neatly on your itinerary. You […]
Late last year at the Oxford Union we had the opportunity to talk with Tim Ferris, author of the 4-Hour Workweek, about his tips for successful blogging. Tim’s key piece of advice, an echo of every good guidebook we’ve read, is that bloggers who are just starting out should focus on producing “evergreen content”. That […]
IN the quest for market dominance, companies often engage in a war for talent. They seek out new recruits with outstanding capacity, the chosen few who are able to demonstrate a track record of success, and an ability to solve new problems quickly and easily. Management consulting firms are the flag bearers in this war. In a clear […]
Are activist investors having a profound effect on American board rooms? McKinsey Director Larry Kanarek says, “I think the answer is absolutely yes.” How should executives respond? ACTIVIST investors are having a profound impact on American board rooms. Faced with this new situation, Larry Kanarek argues that executives should work with activists, rather than against […]
The real battle is not against competitors, but against ourselves. Morieux and Tollman make the case for a new approach to management that they call “smart simplicity” BCG partners Yves Morieux and Peter Tollman have written a new book called Six Simple Rules: How to Manage Complexity Without Getting Complicated, in which they make the case for a […]
Evans explains that business strategy is premised on assumptions about technology, that those assumptions are changing dramatically, and that this will lead to a different concept of what we mean by business strategy
Are you excited, nervous or a little bit scared? Your comfort zone, as the name suggests, is a comfortable place. It feels safe and secure to be there, because you’ve been there many times before. Nothing unexpected is likely to happen. Nothing you haven’t seen before. And certainly nothing out of the ordinary. But ordinary […]
Be engaging, have something to say, don’t have a stick up your a$$, make people laugh, and never generalize
Large consulting firms like McKinsey, Bain and BCG have huge marketing budgets and strong alumni networks that they can tap into to ensure a steady stream of work. This is not a reality for most people. If you are a small firm or a solo consultant then you might just need to pick up the […]
Greg McKeown shares his revelation that success can lead to failure and why doing less can often mean getting more
The illusion of permanence, and the persistence of innovation (Source: Tom Spencer) IN a recent FT article, Chairman of Risk Capital Partners Luke Johnson made some interesting comments about his alma mater, Oxford University: Oxford University, my alma mater, is a classic case of a complacent establishment that is refusing to reinvent itself. It will consequently […]
Ideas matter, stick with it, and figure out the right measure of success (Source: Youtube) STEVE Ballmer spoke today at Oxford’s Said Business School, the world’s leading business community creating ideas with global impact. A few hours later, he spoke at the Oxford Union, the world’s most prestigious debating society. We were fortunate to attend the […]
Veritasium concludes that advertising your page on Facebook is a waste of money VERITASIUM is a popular educational science channel on YouTube, created by Derek Muller, which tries to uncover misconceptions about science. While not technically “science”, Veritasium has released an interesting and insightful video about the worth of Facebook marketing. In short, Facebook marketing appears to […]
But mostly give You are probably familiar with “gains from trade”. The notion that society is based on give and take. You help me, I reciprocate, and together we benefit. The idea is a powerful one and forms the basis of the free market economy. The invisible hand of market forces, as Adam Smith put it, […]
Management requires smooth process, leadership requires clear vision Management is about running systems, processes, and people. Leadership is about taking action, and inspiring others to do so. Having a vision, and the ability to influence and motivate others to sail towards it. Your team needs both. If you have no managers, then key details, tasks and […]
For those of you planning to be in the UK in March, we would like to share with you details of an exciting event being hosted at Oxford’s Said Business School. Oxford Inspires is an entrepreneurial conference taking place on the 8th and 9th of March this year. The event is hosted by Oxford Entrepreneurs, the largest […]
It’s about much more than generating social good. It’s about changing the financial goal posts.
When you try to please everyone, you please nobody There was a recent incident in Australia where Aldi, a German supermarket, decided to pull a product from its shelves after receiving racism complaints. The product in question was a t-shirt with the slogan, “Australia EST 1788”. The shirts were produced for Australia Day 2014, which […]
Simon Sinek gives a ground breaking talk in which he explains the biological drivers of real leadership, and the natural chemicals (endorphins, dopamine, serotonin and oxytocin) that enable us to prosper, together
What can we learn from the life of such a man? NELSON Mandela passed away last Thursday at the age of 95. He was a man amongst men who fought and won the battle against Apartheid in South Africa. As the world continues to mourn his loss and reminds itself of Mandela’s heroic leadership and […]
You can create your own luck by expecting good fortune, having persistence, and embracing opportunities as they arise IF you are like most people you probably appreciate the role that luck plays in finding a romantic partner. People spend large amounts of time attending parties, going to bars, and participating in bizarre social and sporting […]
Why coming up with the right answer to a business problem often isn’t enough in a large organisation – and what you can do about it “WHY won’t people in this organisation realise that this new approach could make things so much better? Why won’t people implement this idea? This is so frustrating…” Creating meaningful […]
Business can step up by reaching out, but it needs to adopt a new approach THE OLD MODEL of corporate giving involves the CEO championing a particular charity, and then writing a cheque. The old model is broken. Broken because it relies on the whim of the CEO, who could change her priorities at any […]
Developing excellent strategy consists of just 5 steps HERE are five steps that you can use to formulate great strategy: Diagnose: assess the lay of the land. Understand the company, the competitive environment and the broader economy. What is the company’s business model? Who are the competitors? Who are the customers and suppliers? And, what […]
“Luck is not something you can mention in the presence of self-made men.” (E.B. White) TODAY, over coffee with a friend at an alfresco cafe in Sydney, our conversation turned, as if by chance, to consider the nature of luck. As an Australian, I have always considered myself lucky. After all, if you grow up […]
Viewing stress as helpful can foster courage, and connecting with others under stress can aid resilience KELLY McGONIGAL explains that merely believing that “stress is harmful” can increase your chances of premature death. The good news is that by changing how you think about stress you can change your body’s stress response and improve your physical […]
The business model is how you get paid, but the business is why you get paid AT first glance, business and charity appear quite different. Many business professors and executives will tell you that business is all about increasing sales, reducing costs, and creating future growth. Charity, on the other hand, is about voluntarily giving […]
By addressing social issues with sustainable business models, business leaders have the potential to provide scalable solutions MICHAEL PORTER makes an astute observation – the world is full of social problems. From environmental degradation and disease to unemployment and inequality, solving social problems has traditionally been the domain of NGOs, the government and philanthropists. Meanwhile, […]
Loss aversion can lead people to favour the status quo, and so clever marketing is sometimes needed to convince people to buy new products LOSS AVERSION can lead people to favour the status quo. How so? Well, when a consumer considers replacing a good, the presence of loss aversion can lead her to experience more pain […]
“It’s an incredibly exciting thing, this one meaningless life of yours” (Tim Minchin) “TIM Minchin is a genius, pure and simple. He is to musical comedy what Charles Darwin was to evolution” (Tim Arthur, CEO of TimeOut Magazine). We tend to agree. For those of you unfamiliar with Tim’s work, you can check out some […]