Book Review: Elevate

elevate

by Rich Horwath

Every leader and manager in business wants to be known as strategic and be able to execute good strategy. However, more than half of all companies say that strategic thinking is the skill their senior leaders most need to improve. In Elevate, strategy expert Rich Horwath provides leaders and managers an approach that will drive results for both the short- and long-term. This book is now available as a Soundview Executive Book Summary.

As Horwath writes, “Using the lens of new value on the ideas, projects, initiatives and tactics proposed each day provides a powerful filter for eliminating meaningless activities. It forces you to more closely examine why things are being proposed and pursued instead of just what is to be done.” Horwath shares with leaders a powerful framework called the Three Disciplines of Advanced Strategic Thinking. His three-discipline approach breaks strategy down into its fundamentals: Coalesce, Compete and Champion. The first discipline coalesce means leaders must have the ability to blend together strategic insights into meaningful differentiated value. The second discipline, compete, which helps leaders gain motivation to try harder. Champion, the third discipline, means leaders have managed time, influenced others, and continually developed new skills, all critical to success. With this approach, you will gain a new way to strategic thinking that will elevate you from your competition.

You will also learn how to use a concrete framework to keep your career vital through innovation and inspiration. Most leaders think strategy and innovation are separate ideas, but when you combine them together you have a powerful tool to conquer any challenge. Your career depends on being strategic. With Elevate, executives will be able to practice strategic thinking daily to guide their business.

Book Review: The Purpose Economy

the_purpose_economy

by Aaron Hurst

Over the past decade in the American economy, many people have been turning their innovative ideas into big businesses. Millennials have been ignoring conventional career paths to start their own companies, freelance, or help our local communities. From these ventures, millennials feel a great deal of purpose in their careers. In The Purpose Economy, entrepreneur Aaron Hurst, points out that purpose is the new driver in the American economy. This book is now available as a Soundview Executive Book Summary.

As Hurst writes, “The Purpose Economy describes the new context and set of ways in which people and organizations are focused on creating value, and it defines the organizing principle for innovation and growth. It is an economy where value lies in establishing purpose for employees and customers — through serving needs greater than their own, enabling personal growth and building community.” Hurst presents to us the three types of purpose that represent the needs the Purpose Economy addresses: personal purpose, social purpose, and societal purpose.

The Purpose Economy also offers insight on how to achieve and manage purpose for yourself and your organization. Hurst writes that before you can create purpose, you must first be self-aware. The first approach to maintaining purpose is task-focused purpose, meaning that you first need to overcome task-related challenges. The other approaches include impact-focused by seeing how your work impacts others, focus on your own identity, and financial drivers of purpose. Readers will also learn how other companies are creating value and purpose within their businesses. The Purpose Economy will help not only build a successful organization but also human-centered markets to create purpose for employees and customers alike.

How Flexible is Your Management Team?

“Flexing” is the art of switching leadership styles to more effectively work with people who are different from you. Creating flex in a company’s management style will impact all aspects of developing the talent you have, attracting future talent and building relationships with customers in this competitive marketplace.

Jane Hyun and Audrey Lee are renowned executive coaches and global leadership strategists, and they have the experience and expertise to help you create a flexible management team. We have invited them to join us for our webinar The New Playbook for Managing Across Differences where they will explain how to:

  •  Understand the Power Gap, the social distance between you and those in the workplace of different cultures, ages, and gender.
  • Flex your management style by stretching how you work and communicate with others.
  • Bridge the gap with more effective communication and practical feedback tools.
  • Multiply the effect, by teaching these skills to others and closing the power gap with clients, customers, and partners to create innovative solutions.

Join us on September 11th to hear more about “flexing” and to post your questions on this important issue.

What the Best Leaders See

THE POWER OF NOTICING

Take Off Those Blinders and See the Truth
In many ways, The Power of Noticing, the latest book from the prolific Max Bazerman, will somewhat dishearten his readers — if not enrage them. In sometimes horrific and often damning detail, Bazerman exposes the disastrous consequences of having leaders with blinders on who fail to notice — or pretend not to notice — what is truly happening around them.

From Cheating to Tragedies

The litany of cases described by Bazerman involves many incidents barely known by the public, such as the story of a medicine whose price grew in a few years from $50 per vial to $28,000 — yes three zeroes— per vial; the Harvard professor who was faking his data; and the egregious misdirection used by politicians and marketers (and magicians) to fool the public. There are also some well-known cases:

  • Morton Thiokol and NASA scientists failed to notice the pattern of low-temperature failures of its O-rings and, as a result, went forward with a low-temperature launch of the Shuttle Challenger. Seven astronauts lost their lives in the ensuing mid-air explosion.
  • Penn State officials and staff, from the president of the university, to the famed coach of the football team, to other coaches, failed to take decisive action, not even calling the police, in the face of recurring reports of rapes of young boys by assistant coach Jerry Sandusky.
  • Enron’s Board of Directors, despite specific accusations from a whistleblower and a warning from the company’s auditors that Enron was “pushing the limits” of accounting propriety, did nothing to investigate the possibility of wrongdoing.

Solutions for Ending the Madness

Although based at both the Harvard Business School and Harvard Kennedy School, Bazerman is not an ivory-tower pundit criticizing from the sidelines. Instead, he travels the world, pushing for solutions to unethical behavior and decision-making. In this book, Bazerman offers concise suggestions for preventing the abuses and crimes he documents. Three of these suggestions include:

 

  • Ask for the data. Many decisions are made based on the data presented. Decision-makers need to determine if more data is needed and what kind, and then to request that data. NASA scientists could have received the cold-temperature test results from Morton Thiokol and prevented the loss of seven lives.
  • Attack motivated blindness. Often, leaders who look the other way in the face of wrongdoing have deep-seated motivations to do so — such as protecting their university (the Sandusky scandal) or the church (in the case of the Catholic Church scandal). The solutions are clear: leaders have the responsibility to fully notice the facts and to act when it’s appropriate. And those who fail to act on reports of wrongdoing must face clear consequences. Finally, leaders must provide decision-makers in their organizations with the incentive to speak up.
  • Systemic changes. Bazerman has been working for years to convince policy makers to reform the auditing industry, in which companies pay the auditors — thus creating an almost insurmountable incentive for auditors to please their paymasters. Industry blindness occurs in many other industries and must be equally addressed with reform.

As with most of his works, The Power of Noticing offers Bazerman’s uniquely qualified insight into how the world works and how it should work.

The Key to Driving a High-Performance Culture

“Accountability is one of the biggest challenges business leaders face, but it can also be one of the most important factors leading to success.” Greg Bustin

Top business consultant and speaker Greg Bustin has dedicated a career to working with CEOs and the leadership teams of companies on this crucial topic. Over the last five years, he has interviewed and surveyed more than 3,200 executives around the world–from such admired companies as Marriott, Container Store, Ernst & Young, Sony, Herman Miller, Nucor, and Southwest Airlines–to understand how high-performing corporations successfully create and sustain a culture of purpose, trust, and fulfillment. Along the way, Bustin developed a set of leadership tools that will increase accountability and drive success for any type of organization.

Here are the Seven Pillars of Accountability that came out of his research:
•Character
•Unity
•Learning
•Tracking
•Urgency
•Reputation
•Evolution

If you would like to integrate accountability into your company, join Greg on September 4th for the Soundview Live webinar, The Key to Driving a High Performance Culture. Greg will provide powerful concepts and practical examples you can apply in your organization along with provocative questions and useful exercises to help you create a high-performance culture in your workplace.