Posts Tagged ‘Jim Collins’

In 100 Words: The Influence of Peter Drucker

Friday, February 1st, 2013 by AdvisorCatalyst

Amidst the plethora of new business writing published each year, it’s easy to lose sight of Peter Drucker’s significant influence.  Jim Collins said in a May 2006 speech that Drucker had a formative influence on every company he and Jerry Porras profiled in Built to Last.  In the introduction to his book, Go Put Your Strengths to Work, Marcus Buckingham notes that many people trace the “strengths movement” back to Drucker, who for years encouraged both individuals and organizations to focus on areas of strength.

Business advisors benefit greatly from a liberal sprinkling of Drucker’s writing in their reading regimen.

“I regard it as a compliment when some people call me the Father of Marketing.  I tell them that if this is the case, then Peter Drucker is the Grandfather of Marketing.”  (Philip Kotler)

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In 100 Words: Return on Luck

Friday, June 15th, 2012 by AdvisorCatalyst

Success comes from a combination of shrewd judgment (strategy), hard work (execution), and good fortune – the last of which often plays a larger role than we would like to admit.

Every company, no matter how disciplined, is susceptible to seemingly coincidental events outside of its control.  We call it luck.  Sometimes it’s good.  Sometimes it’s bad.  It can never be predicted, and it is not obligated to “play fair.”

The critical question is (as Jim Collins writes in Great By Choice): do you get a high return on luck (both good and bad)?  Add that to your list of metrics!

“Luck is not a strategy, but getting a positive return on luck is.”  (Jim Collins)

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In 100 Words: Capitalizing on Complexity

Wednesday, March 14th, 2012 by AdvisorCatalyst

Business complexity continues to increase.  A challenge?  Certainly.  An opportunity?  Absolutely!  Here are four ways to capitalize on complexity:

  1. Prioritize.  Focus resources on the best few initiatives.
  2. “Procedurize.”  Simplify processes.  Create repeatable steps and/or integrate activities.
  3. Reorganize.  The structure that worked before may not fit the current reality.
  4. Monetize.  Share solutions to complexity issues with other businesses for a service fee.

Don’t shy away from complexity, and try not to just pass the costs to your customers.  With a little fortitude and creative energy, you can capitalize on complexity to benefit both you and your customers.

“The only legitimate form of discipline is self-discipline, having the inner will to do whatever it takes to create a great outcome, no matter how difficult.”  (Jim Collins)

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