Jobs are changing rapidly, and the question now is not whether people have the right skills; it’s whether they have the potential to learn new ones. [...]
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Public speaking tends to be a love-or-hate pursuit. Some professionals loathe the prospect, wishing it weren’t required of them. Others — and I hear from many – dream of developing a paid speaking career on the side.
Indeed, the economics can be enticing. Top speakers in the corporate world often command $20,000-$35,000 for one-hour keynotes, and I’ve developed a healthy six-figure side business doing so. Business celebrities like Malcolm Gladwell bring in far more (back in 2008, it was widely reported that he received $80,000 for one enga [...]
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As topics like automation, artificial intelligence, and skills retraining dominate conversations about the future of work, some predict catastrophic job loss and a dystopian future where legions of unskilled workers languish unemployable in the margins. Others, like O’Reilly Media’s Tim O’Reilly, aren’t so pessimistic. They remind us that we’ve been here before and that, rather than simply increasing efficiency and cutting costs, emerging technologies can [...]
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Peter Drucker said: “Plans are only good intentions unless they immediately degenerate into hard work.” This and a slew of similar maxims reflect a common view of strategy execution: that it’s distinct from strategy, harder to pull off than defining a strategy, and therefore more critical to success — underpinned by seemingly indisputable virtues such as diligence, discipline, consistency, alignment, and focus. But such a simplistic view of execution can be misleading and can reduce actual impact.
In fact, several frequently observed tr [...]
Freek Vermeulen, an associate professor of strategy and entrepreneurship at the London Business School, argues that too many companies are following so-called best practices that are actually holding them back. They do it because of deep-seated industry tradition—and because it’s hard to know how seemingly successful business models will hold up over the long term. That’s why, he says, organizations should avoid benchmarking and instead routinely test their business practices before there’s a problem. Vermeulen is the author of Breaking Bad Habits: Defy Industry Norms a [...]
Your wedding is one of the most blissful moments of your life that is why you should make it special in all aspects. Talking about hiring a wedding photographer Lorraine (photographe mariage Lorraine), you should hire an expert who can document all those moments and not miss even small details. As capturing amazing photographs on this special day is not easy that it seems, thus you should trust only a proficient one to preserve your treasured memories. There are several wedding photographers who claim to be the best in this profession, but Fanny Krackenberger is the best among all.
Fanny Krack [...]
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The mentor-mentee relationship is a tango between a more senior person and a junior one. Just as in dance, coordination and orchestration between parties is necessary for grace and success. And while we and others have written about what makes the ideal mentor, comparatively less attention has been given to the other partner. This gap is unfortunate because, like mentorship, menteeship requires specific behaviors — without which the mentee’s success may be threatened. In this article, we outline six habits of ideal mentees and provide anecdotes an [...]
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The proposed merger of CVS and Aetna will test what it means today to create value in business. Shareholders may gain, but will consumers? The Department of Justice (DOJ) will be setting important case law with its treatment of this vertical merger. And, in the end, we consumers will learn if these kinds of mergers are, literally, good for our health.
The crux of the matter is whether vertical mergers — between a buyer and its supplier — are better for consumers than horizontal mergers between two sellers. In the health care arena, horizonta [...]
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Not long ago, many services such as tax accounting were delivered episodically and in-person, as most health care still is today. Periodically, a client and accountant would meet, review financial materials and status and, at the end of the encounter, make an appointment for the next meeting. Increasingly, in-person accountant visits have been replaced by phone or web meetings and do-it-yourself software like TurboTax. There is still a need for accountants and face-to-face meetings, but typically accountants now require such visits for only the more com [...]
In 2001 the list of companies with the highest market caps was dominated by blue chips. General Electric, Microsoft, ExxonMobil, Walmart, and CitiGroup — all were businesses led by managers who were experts in efficiency and optimization and who grew their businesses by making them work better than they had previously.
Fast forward to the present, and the list looks strikingly different. Apple, Alphabet, Microsoft, Amazon, and Berkshire Hathaway now top the list, with Alibaba, Facebook, and Tencent close behind. They are for the most part young [...]
Experts have opined for decades on the reasons behind the spectacular failure rates of strategy execution. In 2016, it was estimated that 67% of well-formulated strategies failed due to poor execution. There are many explanations for this abysmal failure rate, but a 10-year longitudinal study on executive leadership conducted by my firm showed one clear reason. A full 61% of executives told us they were not prepared for the strategic challenges they faced upon being appointed to senior leadership roles. It’s no surprise, then, that 50%–60% of executives fail w [...]
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Feedback is crucial for learning and improving, but it’s rarely fun to be on the receiving end of it when it’s critical. Many people have a negative reaction to feedback, especially feedback on their creative work. In a study of seven companies and 11,471 days of creative work, researchers found two striking patterns: First, getting feedback was incredibly rare, indicating that people seemed to avoid it; and second, when people did receive feedback, it generally left a negative emotional residue.
So what might good feedback for creative work look like? [...]