Category Archives: Management and Strategy

You Just Bought a Small Business. Now It’s Time to Lead

Acquiring a small business can in many cases be a lot different from starting a business from scratch. However, the personal reasons for starting or acquiring a business stay consistent; the ability to impact an outcome, your own personal development, confidence and faith in yourself, or financial reward. Although acquiring a business usually is a faster and easier route to take, it does offer unique challenges that many entrepreneurs are not prepared for. One major challenge is establishing credibility in an organization that is already developed. Convincing your employees to trust in your vision and goals can help to create a strong organizational culture, which will, in turn, lead to a more successful- profit bearing company. Read More>>

 

 

Difficult Conversations Can Jump Start Company Innovation

Autocratic or authoritarian leadership is an approach many successful companies have taken, like Apple and Harley Davidson. However, this leadership ultimately kills organizational morale and in the long-run can deteriorate the success of a company. Brené Brown author of, Dare to Lead, explains how being a vulnerable leader ultimately breeds more success than being an autocratic leader.  Having the courage to be vulnerable and let your employers in, can build stronger workplace relationships and ultimately build a stronger overall organization. When leaders allow themselves to be vulnerable it encourages their employers to share their thoughts and feelings towards a situation. Knowing what your employers feel and what they want allows them to feel cared about and valued, which can help lead to less turnover. Read More>>

How Leaders Shape Company Culture

What separates successful companies from iconic companies? The answer, according to William Craig of Forbes.com, is the critical element of culture. The question that so many different companies struggle with is how they can capture a culture of ethical behavior and fairness, and ultimately harness it to success. The answer to this seemly complicated question boils down to leadership. Leaders set the tone in their companies and exemplify for their employees what their company stands for and what the most important milestones for success are. Their leadership determines the success of a company in much more than just the classical sense of management based accomplishment. How engaged are employees and how encouraging of fluidity and new ideas is the company? All these questions and more are answered by the company’s leaders.  Read more>>

As Your Team Gets Bigger, Your Leadership Style Has to Adapt

In the workplace, the strategy used when managing small teams versus managing larger teams can vary vastly. Julie Zhuo, Vice President of design at Facebook slowly started to realize this during meetings when slowly but surely, there were not enough seats for everyone nor was there enough time for everyone individually to present their ideas anymore. As Zhuo’s schedule started to become more hectic and her design team continued to grow she knew she must implement some changes into her management strategies. Zhou had to place much more trust into her employees, accept that perfectionism was not an option anymore and keep communication clear, concise and uplifting to her staff. Although it can be difficult and tedious changing your management strategies will ultimately help the organization massively improve as well, as make yourself a stronger more effective leader. Read More>>

The Downside of Transparent Decision Making

When making decisions within a company, upper management wants its employees to be transparent about what they think about a situation. Being up front and honest has always been a huge factor in creating a strong organizational culture. However, according to a pair of Kellogg School researcher’s transparency does not always allow for company’s employees to be completely honest and open about their thoughts. Instead,  sometimes having private conversation and “backroom discussions” can often be more beneficial for getting employees to share information.  Read More>>

The Ten Stages of Successful Strategic Alliances

Businesses may enter into alliances for the purpose of realizing any one of the dozens of benefits that these partnerships offer. Offer, that is, when executed successfully. Paul Sanders of INSEAD.edu details the different considerations that are pertinent to the selection of a successful alliance partner — many of which are not far off from the considerations taken into account when selecting a spouse. Successful relationships and successful alliances are not scenarios where you settle for your second choice of partner. They require maintenance and commitment to success by both involved parties. They require demonstrations of devotion and deep ties between alliance members. The parallels continue. How can businesses find and lock down “the one” to attain all of the full benefits of partnership? Read more>>

Want to Revolutionize Your Field? You May Need to Rethink the Size of Your Research Team

Large research teams within the last decade have become highly acclaimed and successful, receiving copious amounts of funding to continue to produce great works. However, small and large research teams from Dashun Wang’s research have shown to serve completely different objectives. Wang broke the research types into two types; developmental and disruptive works. Developmental research builds upon earlier research, which advances the understanding of an existing question or problem. While disruptive research, opens up a whole new question or problem to be answered. The question is though, who is coming up with these new inquiries, larger or smaller research teams? And should ventures be willing to shift their funding to the teams that are producing more of these disruptive pieces of work? Read More>>

Take 5: How to Build Trust in the Workplace

A strong organizational culture results in a more efficient and therefore, more profitable business. The forefront of a strong organizational culture starts with trust. However, building trust in a work place is not as easy as it seems. Kellogg faculty offers a 5 step approach to businesses or individuals to ease the process of building this trust within the workplace. Although, before building this trust organizations may need to understand the circumstances of where sometimes trust can have a “dark side”. Read More>>

IMG_0103

Where Big Leaps Happen

Tin and copper are two weak metals on the Mohs scale, however mix them together and you make bronze an extremely hard strong metal. In Morgan Housel’s article, Where Big Leaps Happen Housel explains how this metaphor is perfectly aligned with the creation of a successful business. You do not need to be extremely extraordinary at one particular thing. In fact, it might be better to be just okay at two great qualities and then combining them to make them something worthwhile.Read More>>

HELP! I WANT TO PITCH VCs BUT DON’T WANT ANYONE STEALING MY IDEA

Two of entrepreneur’s biggest worries are how to acquire investors for funding and how to keep your business idea from getting stolen. Maynard Webb, longtime technology executive, investor, board member and best-selling author explains why you do not need to worry about getting your idea stolen and instead, the need to prioritize your time worrying about how to get investors. Sharing the right information about your big idea with Venture Capitalists and angel investors might just help to make or break the deal you have been waiting for. Read More>>