You don't change for its own sake - you change to realise the strategic vision.
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Everybody makes mistakes. But the biggest mistake of all is failure to learn from error. The lessons of misjudgements, miscalculations and mismanagement teach more than success - if you're prepared to face the realities of failure.
The romantic image of the founder-millionaire wearing overalls. tinkering visibly with some mechanical marvel in workshop or lab, is often reality.
Top managers have never lost their fondness for declaring that people are the 'greatest asset' that their corporations possess. Like other popular maxims, this one doesn't survive close analysis.
What does Mercedes-Benz have in common with H.J. Heinz and Coca-Cola?
All companies are management academies, good or bad. Very few concerns see themselves in this light. But companies of all sizes inculcate methods, judge managerial performance, seek to improve it, provide specific training, develop concepts - and, above all, provide an endless stream of real-life case studies.
To achieve anything, you must have a direction, a purpose, an aim.
Managers are constantly asked to behave like entrepreneurs.
Quality is a word from which few managers can hope to escape for long these days. That's not quality meaning 'goodness, beauty, luxury, brightness or excellence' (to quote guru Philip Crosby), nor even meaning a product free from fault.
Entrepreneurs don't on the whole read management books, and most such books don't seem to be written for them - especially those who run smaller businesses. After all, there's a vast gulf between the scale of business that employs at most 100 people and a payroll in the tens of thousands. The large company can turn over £1 million, not in a good year, but an everyday hour.
Great coaches no doubt differ in their styles as much as great athletes. But the coaches must all have eone thing in common: they are great communicators. It isn't just a question of seeing what the athlete must do, but of persuading the athlete to do it.
Managers have become increasingly concerned with 'change management', and like it or not, that's moved from desirable skill to indispensable process.
The easiest task in management is buying another business – you only need to identify the acquisition target, work out how much you want to pay, and make your offer.
All companies today want to stay or become entrepreneurial.
But what are the attributes of the entrepreneur? The most convincing list by far was assembled by Geoffrey A.Timmons in an article published by the Harvard Business Review in 1979. He found that entrepreneurs required the following nine qualities:
People are the key to organisational success, and also the cause of corporate failure.
Strategy has been having a wonderful run for management's money.
For every business and every manager, there's nearly always a distance between 'where we are' and 'where we want to be'. It's the crucial divide in management, and you won't cross that divide without closing the management gap: that between what needs to be done and actually doing it.
All success hinges on how well you manage one person - yourself. But you won’t get as far as you could progress simply by trying to master the lessons of success.
These principles, taken from my book, The Unique Success Proposition, constitute the Success Quotient, which holds the key to all forms of human achievement. The USP can consist largely of:
One of the most important weapons in the armoury of the lateral thinker is another invention of Edward de Bono’s - PO.
Challenge is of the essence of lateral thought, and the meaningless word PO is a meaningful way of challenging a statement or idea. Edward’s seminal book on lateral thinking contains the following very useful guide to the grammatical use of PO.
The one subject on which all managers should have strong and well-informed opinions is management itself.
Everybody has had the miserable experience of working for or with a ‘bad manager’: and you would have to be desperately unlucky never to encounter a ‘good’ one. But what do ‘good’ and ‘bad’ mean in this context?
I’ve been reading with mounting horror a book called 'Rip Off' by David Craig. The cover justly describes it as, ‘the scandalous inside story of the management consulting money machine’. Craig was himself a blue chip consultant.
This is how NOT to buy a business...
I get the feeling that in the constant struggle between leadership and management, leadership is getting the upper hand.