How can any company know if its processes, products, people are safe? Only if everyone is watching and telling the truth. The first part can be assumed; the second cannot.
Margaret HeffernanRead
In business, staying focused requires that you turn most opportunities down.
Interpretation
In business, prioritizing focus often means rejecting many potential opportunities.
This quote by Margaret Heffernan highlights the importance of focus in business. It suggests that while many opportunities may arise, not all of them align with a company's core mission or strategy. To achieve success, one must be selective and turn down opportunities that could distract from this focus, thereby allowing for deeper commitment and better execution in the chosen path.
In practice
During a business presentation to emphasize the importance of focus and decision-making.
How can any company know if its processes, products, people are safe? Only if everyone is watching and telling the truth. The first part can be assumed; the second cannot.
Most executives I know are so action-oriented, or action-addicted, that time for reflection is the first casualty of their success.
Once you have power, you are inevitably surrounded by people who have their own agendas and will tell you whatever advances them.
If the company depends entirely on you - your creativity, ingenuity, inspiration, salesmanship or charisma - nobody will want to buy it. The risk and the dependency are too great.
Those in powerless positions aren't about to complain about bullying bosses, abusive supervisors or corrupt co-workers. There is no safe way to do so and no process that promises redress.
Bosses and leaders everywhere should cherish the people who bring them bad news, disappointing data or hard problems.
CEOs are paid for doing a terrible job. If the system wasn't so messed up, guys like me wouldn't make this kind of money.
Creating a close connection to those you do business with has its many risks, rewards and consequences._x000D_ _x000D_ There are few things in business I have encountered that are more difficult than firing someone, particularly if that someone has always been, or has become a friend._x000D_ _x000D_ On the flip side, I have been rewarded with many friends.
The reason why it is so difficult for existing firms to capitalize on disruptive innovations is that their processes and their business model that make them good at the existing business actually make them bad at competing for the disruption.
In a period of economic downturn, the overwhelming instinct is to pare back, cut costs, and lay off. If you do that, do so with your strategy in mind. The worst mistake is to cut across the board. Instead, reconnect and recommit to a clear strategy that will distinguish yourself from others.
The companies that survive longest are the one's that work out what they uniquely can give to the world not just growth or money but their excellence, their respect for others, or their ability to make people happy. Some call those things a soul.
Big companies have trouble with innovation. Innovation is about bad ideas, or ideas that look like bad ideas. That's the fundamental thing.
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