JACK MIXNER STRATEGY

Copyright Jack Mixner.     714 449 1040.     www.mixnerstrategy.com

Evidence suggests that economic growth in less developed regions of the world requires "economies of scale or scope or the use of new technologies capable of producing significant advances in overall productivity and incomes (Bhide, A16)." Micro loans in developing economies - without broad-based changes - aren't enough (even with Nobel Prize recognition including the recent award to Yunus this past year).

So where do micro-loans really work? Micro-loans might work better in impoverished areas in developed economies (Bhide, A16).

Orange County has problems - some severe - with unemployment and low incomes in various cities. Maybe a useful solution is a micro-loan program to stimulate growth in center city environs?

References

Bhide, Amar and Carl Schramm. Phelps's Prize. Wall Street Journal. 29 January 2007. A16.

Posted by jackmixner at 10:29 AM | Permalink

Copyright Jack Mixner.     714 449 1040.     www.mixnerstrategy 

New on-board as CEO? "Executive on-boarding" reduces risk to your company - and you - especially if you are new to your industry (McGregor).  Also sometimes called CEO Bootcamp, on-boarding seeks to increase the effectiveness of new CEOs or managers in the crucial sixty days after taking over. Times are reducing the ability of new managers to walk around for a while before settling in.

Every time I read a book or article that says speeding up the process is a good way to go, I pause for a reality check. Does speeding up the decision making process really speed up results, I ask myself.

Key areas on-boarding might help reduce risks for new hires faster:

• Strategic planning - focus on creating the plan in less time while implementing sooner.
• Understand political in-fighting between the folks who didn't get your job, or wish to see you fail
• Decide early on if on-boarding makes sense if supplied by your search consultants, your strategy consultants or executive coaching partners.

References

McGregor, Jena. How to Take the Reins At Top Speed. BusinessWeek. 5 February 2007. 55. http://www.businessweek.com/magazine/content/07_06/b4020077.htm?chan=search

Posted by jackmixner at 12:35 PM | Permalink

Copyright Jack Mixner.     714 449 1040.     www.mixnerstrategy.com

Fifty-three per cent of a recent group of mergers failed. Besides being a horrendous waste of money, they were also a waste of time. Here are ten suggested ten key points to consider in order to make your acquisition – or sale – succeed (Adolph, page 30).

Posted by jackmixner at 04:06 PM | Permalink

Copyright Jack Mixner.     714 449 1040.     www.mixnerstrategy.com

In a perfect world, you have realized for some time that there is a perfect acquirer for your company, you have discussed with them the possibilities, they agree with you, they have offered you a fair deal and, finally, they are ready to pay you cash now with no requirement for you to stick around to make things work. Not likely to happen, is it? There are things you should do now that will make things more advantageous for an acquirer down the road.

Spending some time thinking through an acquirer's point of view long in advance of a sale will probably help increase the value of your company. In their mind there should be two prime questions:

1. Is the deal commercially attractive?
2. Are we capable of realizing the targeted value (Adolph, page 21)?

Let's assume you are in the same market as your acquirer. One big question for them is estimating the combined competitive position of the two companies sometime in the future. They need to take into account customers, competitors and overall market dynamics.

Another question is, internally, after the two firms combined, does the management team have the capability to realize the targeted value within the targeted time frame?

Key words so far:

• Competitive position
• Customers
• Competitors
• Market dynamics
• Management team
• Targeted value
• Targeted time frame.

Some Questions to Consider:

Competitive Position

1. What is your competitive position right now?
2. Are you a leader in your field?
3. Follower?
4. Relative market share?
5. Relative market growth rate?
6. Are you selling off-the-shelf products or are they custom? Does that impact competitive position?

Customers

1. Business concentrated in a single large customer?
2. Do you know who your customers are?
3. Are you geographically constrained? By design?
4. Are there related sectors you could approach now to increase sales?

Competitors

1. Where do you stand in your industry? Number one or two in the industry, or among the multitudes?
2. With a little effort, could you increase you market standing?
3. Do your prime competitors have deep pockets?
4. How does your marketing compare to theirs?

Market Dynamics

1. Is yours a growing marketplace across the board, or in specific segments?
2. What do the next three years hold for your market? Ten years?
3. Is the market leader at risk? Could you lead a charge against it?
4. If you are number two, what would it take to become number one?
5. If you are a minor competitor, how could you increase share? Would you have to grow the market to do it, or could you steal share from someone else?
6. What are the long term prospects for your industry?

Management Team

1. How would an acquirer rate your management team?
2. How much does your team depend upon you for direction?
3. Are you ready to give up control of your company to professional management? Have you done it already?
4. What slots remain unfilled, waiting for growth to afford to fill them?

Target Value

1. Without you on board, is your company capable of generating enough income to make a sensible investment return for your acquirer?
2. How long will it take to change things for that revenue stream to kick in?

Targeted Time-frame

1. How long do you reckon an acquirer will give a consolidation strategy to work?
2. Is that enough time for you to create adequate return for the investor?
3. Standing back, have you considered if your estimates are realistic? If you were acquiring your company, would you believe your own estimates?

As you prepare to sell your company, your point of view is crucial. Practice "walking in the shoes" of an acquirer. That new point of view should generate questions the answers to which will increase the likelihood of your eventual sale, and your valuation.

Reference

Adolph, Gerald, Simon Gillies  and Joerg Krings. Strategic Due Diligence: A Foundation for M&A Success. Sisk, Michael and Andrew Sambrook, editors. The Whole Deal Fulfilling the Promise of Acquisitions and Mergers. Booz Allen Hamilton. 2006.

Posted by jackmixner at 11:46 AM | Permalink

Copyright Jack Mixner.     714 449 1040.     www.mixnerstrategy.com

Way back when I worked for a  manufacturer of radiopharmaceuticals. We had our raw materials shipped in from a Northern Californian reactor facility. We got timely deliveries of very high quality isotopes. However, that facility had a problem. It was situated on an earthquake fault. Not near an earthquake fault. On an earthquake fault. The regulatory folks heard about that and immediately closed the facility down.

We had a problem. Now where were we going to get our basic raw ingredient? After a delay, we got it from a mid-western facility that made good product. We had to put up with weather effects on the delivery schedule but the price was OK and the quality was there. That worked for a while, until our direct competitor bought the reactor. Now we had a real problem. You can figure it out. Things didn't really go so well after that. Finally, they closed our facility and moved manufacturing back east.

We knew we had a problem all along. The division was a small one in a very large company. We made our products mainly to extend the size of the catalogue for selling everything from vitamins to penicillin into hospitals. Our prices were probably high, and, although quality was top notch, ours probably never became a hugely profitable product line.

You've heard the message. If you are going to manufacture a product, make sure you have multiple suppliers. If your ultimate exit strategy is to sell your company, having a single supplier will reduce its value, as well.

Posted by jackmixner at 01:54 PM | Permalink

Copyright Jack Mixner.    714 449 1040.     www.mixnerstrategy.com

Tech companies have a problem. Producing the first-off of a new product is prohibitively expensive. Or, sometimes, engineering isn't really done on the great new product, but it needs testing in a customer environment. A good way to do that is to form a relationship with a buyer, preferably with deep pockets, who will work with you to finish engineering and produce the first prototype. It might also be nice if the buyer of the new product paid on very good terms - read that, paid immediately on receipt, a very unusual relationship.

Why would a buyer agree to such a relationship? Access to a new technology that will help it keep ahead of its own competitors might be one reason. And what sort of relationship might be formed? Philips Electronics bought a small stake in Improv Systems, Inc. Why would Improv do it? Having one customer was easier to handle early on. Additionally, Improve didn't need a sales force until it was ready to expand (Winokur Munk).

Early on, a single large customer may make sense.

Later on, concentration of revenues with one large customer is a red flag. Intuitively, we all know that it is a problem. When we start work to increase the value of a company, we find that the concentration doesn't help at all. It is a weakness that reduces the value of the company and may prevent its sale down the road.

References

Winokur Munk, Cheryl. The Big Customer. Dow Jones & Company. 28 October 2002. http://www.improvsys.com/News/articles/big_customer.cfm

Posted by jackmixner at 01:19 PM | Permalink

Copyright Jack Mixner.     714 449 1040.     www.mixnerstrategy.com

In the last six months or so, Pfizer has fired their CEO, dropped a blockbuster new drug because of safety concerns, reduced its sales force size substantially, and laid off 7,800 workers world-wide all in an effort to adapt to forecasted lower sales caused by generic drug competitors. 

J&J bought Pfizer's consumer products division last year (Johnson, page A3) resulting in its biggest consumer products year since 1998. Profit margins in the division are lower than in pharmaceuticals, and will eventually have to increase, but for now J&J is happy with its purchase. J&J is using the profits to staunch bleeding profits in their own pharmaceutical and medical device divisions.

The message for pharmaceutical companies? The days of the blockbuster savior of company profits are limited. Looking for profits in new places (or old ones in J&J's case) might make sense. Until the pharmaceutical companies figure out how to remain profitable without their expensive to research and short-lived blockbusters, new profits from other places will have to serve.

Reference

Johnson, Avery. J&J's Consumer Play Paces Growth. Wall Street Journal. 24 January 2007. A3.

Posted by jackmixner at 10:14 AM | Permalink

Copyright Jack Mixner.    714 449 1040     www.mixnerstrategy.com

There are two ways to prepare for a major game. One calls for researching your opponent and customizing your game strategy to the weaknesses or strengths of your opponent. The other calls for continually practicing your game and using the same strategies, both defensive and offensive, no matter who the opponent is.

It is tricky to choose which one is correct. John Wooden never looked at game film nor prepared specially for an up-coming opponent in all his years at UCLA (Wooden, page 106). Bill Belichick, for the last years coach of the New England Patriots, started his coaching career locked in a small room looking at film of his up-coming opponents. He was an expert at analyzing the strengths and weaknesses of his opponents and deriving a strategy to blunt strengths and to take advantage of weaknesses (Halberstam, page 194) for every up-coming game. Wooden won ten national championships. Belichick has won three Superbowls in four years.

Which is correct for planning your sales effort, customizing your approach for each potential client, or presenting the same information to everyone? It's not always clear.

In discussions with CEOs I hear repeatedly that customized approaches force companies to slow growth plans. It appears that they also reduce profitability over time.

What about "segment-of-one" markets where approaches are customized for every potential customer? If rapid customization is part of your market place, make changes to take advantage of the needs of your individual customers. Old strategy said have one strategy for the market. Segment-of-one requires more preparation. Just make sure it is profitable, as well.

References

Halberstam, David. The Education of a Coach. Wheeler Publishing. 2005.

Wooden, John and Steve Jamison. Wooden on Leadership. McGraw-Hill. 2005

Posted by jackmixner at 05:51 PM | Permalink

Copyright Jack Mixner.     714 449 1040.    www.mixnerstrategy.com

"For many lay people, economic development - by which we mean the analysis of the economic progress of nations - is what economics as a whole is designed to address. Indeed, what but to find the "nature and causes" of economic development was Adam Smith's purpose? For modern economists, however, the status of economic development is somewhat more uncomfortable: it has always been the maverick field, lurking somewhere in the background but not really considered "real economics" but rather an amalgam of sociology, anthropology, history, politics and, all-too- often, ideology (New School)."

Classical economic theory said intervention helped grow economies. Neoclassical economic theory, however, has discounted the possiblity that government planning, with attendant bureaucracies, spurs economic growth.

What does it mean for local economies like Orange County?

A few things continue to be clear. K-8 eductation is crucial. Mis-matches between supply of labor and employment trends, if pointed out early enough, may be reduced. There will be shortages of college educated workers and professionals with advanced training in the future (Orange County).

Intervention necessary from local government? Probably not. Spotlight on coming problems and mismatches? Good idea.

References

New School for Social Research. Economic Development. http://cepa.newschool.edu/het/schools/develop.htm.

Orange County Workforce Investment Board. Closing the Gaps Employment Demand and Workforce Training in Orange County's New Economy. http://www.ocwib.org/lmi/Docs/2000%20Workforce%20Assessment%20-%20

Posted by jackmixner at 10:08 AM | Permalink

Copyright Jack Mixner.     714 449 1040.     www.mixnerstrategy.com

Total recent layoffs at Pfizer now stand at 10,000 about ten per cent of its workforce. Jeffrey Kindler, the CEO, on the reductions: "Fundamental change is imperative, and must happen now (Pollack)."

Strategic issues: big-selling drugs challeged by generic substitutes and small niche drugs, huge sales forces and the need to reorganize research and development teams to focus on more, smaller revenue, new drugs. New drugs are needed in the channel, especially since Pfizer lost a huge new drug to perceived health risks in December and expiring patent protection on other, older drugs. Licensing from other companies should grow.

Opportunities still abound for companies ready to license to Pfizer. Additionally, Pfizer's reductions in sales staff may signal possibilities for new ways of approaching doctors with timely information.

Reference

Pollack, Andrew. Pfizer, Hurt by Rival Drugs, Will Lay Off 7,800. New York Times. 32 January 2007. http://www.nytimes.com/2007/01/23/business/23pfizer.html?_r=1&ref=business&oref=slogin

Posted by jackmixner at 09:50 AM | Permalink

Copyright Jack Mixner.     714 449 1040.     www.mixnerstrategy.com

There are fifteen blocks on Wooden's Pyramid of Success. While thirteen of them have evolved over time, two of them have been the same since the first day. They are Industriousness and Enthusiasm.

Industrious means hard work. Hard work means "fully engaged, totally focused, and completely absorbed. Thers is no clock watching and no punching in and out. It means true work (Wooden, page 22)." 

"Work without joy is drudgery. Drudgery does not produce champions, nor does it produce great organizations. As a leader, you must be filled with energy and eagerness, joy and love for what you do. If you lack enthusiasm ... success is unattainable (Wooden, page 22)."

Engagement is part of it. So is joy. They form the cornerstones of Wooden's pyramid - and successful leadership.

The other thirteen Wooden blocks?

• Friendship
• Loyalty
• Cooperation
• Self-Control
• Alertness
• Initiative
• Intentness
• Conditiion
• Skill
• Team Spirit
• Poise
• Confidence
• Competitive Greatness (Wooden, page 2).

References

Wooden, John and Steve Jamison. Wooden on Leadership. McGraw-Hill. 2005. http://www.coachwooden.com/

Posted by jackmixner at 07:11 PM | Permalink

Copyright Jack Mixner.     714 449 1040.     www.mixnerstrategy.com

"One of the most common characteristics of a person who is nearing the end of the first half is that unquenchable desire to move from success to significance. After a first half of doing what we were supposed to do, we'd like to do something in the second half that is more meaningful-something that rises above the perks and paychecks into the stratosphere of significance" (Drucker, page 138, quoting Bob Buford, in Halftime, page 83-84).

"Significance need not be a 180-degree change. Instead, do some retrofitting so that you can apply your gifts in the ways that allow you to spend more time on things related to what's in your box. And to do it in such a way as to reclaim the thrill of that first deal (Buford, page 89)."

Meaningful contributions can be more rewarding than monetary rewards.

References

Drucker, Peter F. and Joseph A. Maciariello. The Effective Executive in Action: A Journal for Geting the Right Things Done. Collins. 2006.

Buford, Bob. Halftime. Zondervan Publishing House. 1994.

Posted by jackmixner at 01:54 PM | Permalink

Copyright Jack Mixner.     714 449 1040.     www.mixnerstrategy.com

The resident intellectual on the New York Giants staff during the period Bill Belichick was assistant coach, Ernie Adams, talked about two unique qualities Belichick brought to coaching:

• He "had the ability to adapt the gameplan even as the game was being played out, and not to be sucked in by the emotions of it, or to be a prisoner of what he had decided to do beforehand (Halberstam, page 260)." And,
• "he was an outstanding situational coach, a man who could get his team to adapt week after week in order to respond to the strengths and weaknesses of any particular team they were playing."

Belichick got the right people on the field at the right time, trained them well, practiced according to a gameplan each week based upon his read of the weaknesses of the opposing team, and modified the plan during play to fit the reality of the game. While he doesn't win every game (unfortunately he lost to Indianapolis for the League Championship in 2007 while trying to return to the Super Bowl for the fourth time), Belichick has been more successful than most. His program is useful in business as well.

References

Halberstam, David. The Education of a Coach. Wheeler Publishing. 2005.

Posted by jackmixner at 01:38 PM | Permalink

Copyright Jack Mixner.    714 449 1040.     www.mixnerstrategy.com

The price of oil is falling. Certain sectors of the oil market require high oil prices to remain profitable. Low prices will send some companies, like low efficiency ethanol-from-corn producers, reeling (Zuckerman).

Green laws are requiring the ethanol content of gas to rise, raising the price of corn the feed stock for ethanol production.

High prices for corn raise the price of tortillas, a food staple in Mexico (Barclay). The government is importing corn to drive down corn prices.

This is a new, disorganized, and inefficient market. Politics are effecting the price of oil and corn. Relying on either of them for long term growth and profitability will require knowledge, efficiency - and luck.

References

Barclay, Eliza. Tortilla Trouble in Mexico. BusinessWeek. 29 January 2007. 10.

Zuckerman, Gregory and Ann Davis. Who is Hurt by Oil's Fall? Wall Street Journal. 19 January 2007. C1.

Posted by jackmixner at 10:10 AM | Permalink

Copyright Jack Mixner.     714 449 1040     www.mixnerstrategy.com

Three things to do when hiring:

1. Don't trust your gut.
2. Don't rationalize away a bad recommendation.
3. Let the candidate do lots of talking - and listen (Welch).

More and more, it is becoming obvious that the right thing to do is make sure you have the best team for your operation possible. Hiring correctly is crucial, and very hard to do. Take your time. And listen carefully.

References

Welch, Jack and Suzy Welch. Hiring Wrong - and Right. BusinessWeek. 29 January 2007. 102.

Posted by jackmixner at 09:45 AM | Permalink

Copyright Jack Mixner.     714 449 1040.     www.mixnerstrategy.com

Scientists "borrowed" Tibetian monks and lamas to understand if directed thought during meditation lastingly increased compassion and empathy. Subjects were repeatedlly scanned using fMRI. The study compared changes in compassion and empathy to a non-meditating group of control subjects.

Two key points: Meditation changes brain chemistry related to compassion and empathy. Those changes are longlasting (Begley).

Empathy is a useful trait in an emotionally mature leader. It helps you understand you team better. It helps you understand your customers better, as well as yourself. The ability to know how another feels is a useful sales - and management - trait.

Looks to me like empathy and compassion can be learned. Increasing these measures of emotional intelligence (Goleman, page 97) might increase the functionality - and results - of a team in growing a company.

The values of empathy and compassion might be good personal values. They might be good for your company, as well.

References

Begley, Sharon. How Thinking Can Change the Brain. Wall Street Journal. 19 January 2007. B1.

Goleman, Daniel. Emotional Intelligence. Bantam. 1995.

Posted by jackmixner at 02:13 PM | Permalink

Copyright Jack Mixner.     714 449 1040.     www.mixnerstrategy.com

Issues in developing strategic alliances:

1. Shared strategic direction, understanding, and vision
2. Establish project agreements, expectations and goals
3. Define accountable roles and responsibilities
4. Appreciate and respect how people think and do their work.
5. Build relationships and community to deal with issues and conflict.
6. Financial goals
7. Exposure/marketing goals
8. Customer driven needs
9. Autonomy and flexibility
10. Ownership
11. Commitment of top management
12. Culture of agreeing organizations
13. Parallel vision and goals - and benefits (Feiman).

Alliances improve profitability. They are also tricky to set up. It might seem like a simple handshake agreement to create an alliance might work. Probably not. Negotiate a new alliances from a win/win perspective. Then document the agreement for long lasting results.

Reference

Feiman, Daniel. How to Build Your Practice Through Strategic Alliances. Handouts accompanying speech to Association of Professional Consultants. 18 Jan 2007. www.dsf-consulting.com

Posted by jackmixner at 01:28 PM | Permalink

Copyright Jack Mixner.    714 449 1040.     www.mixnerstrategy.com

The top six strategic initiatives facing management in Orange County:

1. Streamlining business processes
2. Enhanced reporting and analytics
3. New systems initiative
4. Cost control and containment
5. Internal Controls
6. Alignment with operating units (Adibi, page 3).

This is supported by the liklihood (according to the survey) of increased capital spending and increased spending on technology.

Reference

Adibi, Esmael and Greg Edwards. Economic Pulse of Orange County. Second Annual Survey of Financial Executives. A. Gary Anderson Center for Economic Research. Chapman University. 12 January 2007.

Posted by jackmixner at 05:02 PM | Permalink

Copyright Jack Mixner.     714 449 1040     www.mixnerstrategy.com

"Why do some communities sustain steady progress, while others emerge, then recede?

At first, we thought it might be technology. Then we looked at the presence of education and research institutions and wealth. Then we thought the silver bullet might be clusters: networked firms that competed and cooperated together.

The communities that are the most optimistic and ready for the new world practice 'collaborative advantage.' They enjoy tight relationships at the intersection of their business, government, education, and community sectors, which provide regional resiliency and a unique ability to set and achieve longer-term development goals (Henton, page xvi)."

"Stage I - Initiate. The Motivator and The Networker give a wake-up call and get friends to commit.

Stage II - Incubate. The Teacher and The Convener put the facts on the table and discipline for results.

Stage III - Implement. The Integrator and The Driver manage leadership transitions and press for measurement of outcomes.

Stage IV - Improve and Renew. The Mentor builds a platform for continuing collaboration, nurtures lasting culture and reaches out to involve newcomers (Henton, page 77)."

Accelerating the process is straightforward using a four step process:

• Recognize leaders in the civic entrepreneurship process,
• Network them together,
• Educate on the process, accross generations and
• Support collaborative initiatives and organizations (Henton, page 208).

Strategic Implication

A business can not succeed as an island. Besides customers, it must support the community. Henton et al present a model for leadership. The first step is to realize the need to get involved. The second is to show up - and lead.

References

Henton, Douglas, John Melville and Kimberly Walesh. Grassroots Leaders for a New Economy. Jossey-Bass. 1997. http://www.coecon.com/

Posted by jackmixner at 08:53 AM | Permalink

Copyright Jack Mixner.     714 449 1040.     www.mixnerstrategy.com

One of the reasons I like Orange County so much is that the infrastructure - even though we complain about traffic - is so nice and new. I grew up in New Jersey in a house that fronted a colonial road. The road was narrow. It was buried about six feet below the surrounding terrain, the result of almost three hundred years of constant traffic. Since houses were built right to the edge of the road, widening and modernizing it would have cost a fortune. 

When I arrived in Orange County, it was a relief, if only for the seemingly wonderful local roads.

The point of all this? Donald Bren was just named Businessperson of the Year. Part of the reason so many of us like where we live is that a few people have taken the time to make sure things will stay fresh for a long time to come. Donald Bren is one of those wonderful people. Thanks. And best wishes. 

Reference

Mueller, Mark. Businessperson of the Year: Donald Bren. Orange County Business Journal. 1 January 2007. Page 1.

Posted by jackmixner at 01:46 PM | Permalink

Copyright Jack Mixner.     714 449 1040.     www.mixnerstrategy.com

Sharma makes a key point about Frank Gehry. It seems that Gehry is proud of at least two thing in his long and hugely successful architectural practice. The first, obviously, is the continued acceptance of his designs. The second is the strenght of his practice. No one is working for nothing. Everyone loves his or her job. Gehry has created a true team.

There is a simple problem, a problem recognized by any successful entrepreneur: succession.

Once Gehry retires, it is not clear how successful the practice will be without his name.

Strategic Implication

Sometimes it pays to share the spotlight early in a big name practice.  

Reference

Sharma, Akhil. The Architect. Wall Street Journal. 23 December 2006.

Posted by jackmixner at 01:37 PM | Permalink

Copyright Jack Mixner.     714 449 1040.     www.mixnerstrategy.com

Buried in the cover strory of the demise of the Nardelli regime at Home Depot is a gem comparing Nardelli to the other senior executive at GE who missed out on replacing Jack Welch, James McNerney. After GE, McNerney moved to 3M and then on to Boeing.

As opposed to Nardelli, McNerney "nurtured an environment of respect at his companies." He listened for a long time before he formed public opinions. No bombast here. Nor any new hires from GE to spike the management levels at his new companies.

Strategic Implication

The jury is still out on how successful Nardelli was at Home Depot. The numbers are still rising based upon strategies he put in place. He lost the battle with his team - and investors - by lacking humility with his board and shareholders.

Maybe I'll try Home Depot again.

Reference

Brady, Diane. 'Being Mean Is So Last Millennium." BusinessWeek. 15 January 2006. Page 61.

Posted by jackmixner at 01:21 PM | Permalink

Copyright Jack Mixner.     714 449 1040     www.mixnerstrategy.com

"Character is what a person is; skills are what a person can do (Covey, page 196)."

CHARACTER ....what a person is...

We think of integrity as a given, normally. Maturity is assumed. Abundance mentality, the willingness to share, is important.

SKILLS   ...what a person can do...

Combined with communication, the ability to plan and organize, and synergistic problem solving - the skills part - they give individuals the basis for providing an empowerment environment. (Covey, page 197).

Strategic Implications

Skills are learned.

Spending time during your strategic planning processes to train on

• communication,
• ability to plan and organize and
• synergistic problem solving will dramatically increase the effectiveness of your organization.

Reference

Covey, Stephen R. Priniciple-Centered Leadership. Fireside. Simon & Schuster. 1990.

Posted by jackmixner at 03:47 PM | Permalink

Copyright Jack Mixner.     714 449 1040.     www.mixnerstrategy.com

Cooper focuses on recognizing and improving your emotions at work. He hypothesizes that better emotional control and understanding will lead to greater success at work and in life.

An interesting tool in the back of his book lets you score yourself and decide what needs more attention. Point of view is important. This is work related, although it appears that applying what you learn about your work environment will improve your life overall. Personal pressures and emotional literacy play a large part.

The values section (Cooper, page 337) is useful. Three statements are:

• "I can see pain in others even if they don't talk about it.
• I am able to read people's emotions from their body langauge.
• I act ethically in my dealings with people."

You grade yourself from it describes me very well to it describes me not at all.

Strategic Implications

What's the value of all this? Understanding yourself is a good first step. Understanding the needs of your team is a useful second step. Put them together with an understanding of your customer, and you will likely feed the growth of your company. Not a bad goal if you think about it. All it takes is understanding, patience at the right time and responding using not only intellectual intelligence, but emotional intelligence as well.

Reference

Cooper, Robert K. and Ayman Sawaf. Executive EQ Emotional Intelligence in Business. Orion Business Books. 1997.

Posted by jackmixner at 03:08 PM | Permalink

Copyright Jack Mixner.    714 449 1040.     www.mixnerstrategy.com

Bill Bradley talks about his values when he played basketball for the NY Knicks in the late sixties and early seventies. He list them out: "Passion, Discipline, Selflessness, Respect, Perspective, Courage, Leadership, Responsibility, Resilience and Imagination (Bradley, Table of Contents)."

Phil Jackson talks about rooming with Bill and seeing his values in action. He notes that "basketball is a perfect arena from which to draw much bigger lessons (Bradley, page xii)."

Strategic Implication

Bradley's last point is that basketball only lasts so long, that players bow out by their forties. His values work no matter how old you are, and in what occupation. So will yours.

References

Bradley, Bill. Values of the Game. Broadway Books. 1998.

Posted by jackmixner at 02:43 PM | Permalink

Copyright Jack Mixner.     714 449 1040.     www.mixnerstrategy.com

"Mission and values ... have got to be among the most abstract, overused, misunderstood words in business (Welch, page 13 to 24)." What to do? Let's see what Welch says.

"The mission announces exactly where you are going, and the values describe the behaviors that will get you there." We're already changing definitions, aren't we? Values became behaviors. Welch's well-known goal of being No. 1 or No. 2 in very marketplace didn't leave much room for discussion about what it meant. At the same time, the mission gave direction on how to get there. Top management creates it after receiving input and information from all over the company.

With values, you try for more involvement from the whole organization. The value "we treat customers the way they want to be treated" led to a whole list of behaviors that supported the value.

• "Never let profit center conflicts get in the way of doing what is right for the customer."
• "Always look for ways to make it easier for the customer to do business with us."
• "Don't forget to say thank you (Welch, page 19)."

Every group within the company may have different behaviors based upon who they interact with.

Strategic Implication

This is useful. Use the mission to state direction. In a smaller company, it may define specific products and marketplaces. In larger companies like GE it focuses on very broad goals like segment rank. Then let the values list give support to the mission by defining the behaviors necessary to succeed.

References

Welch, Jack with Suzy Welch. Winning. HarperCollins. 2005.

Posted by jackmixner at 02:07 PM | Permalink