Strategy Execution & Leadership in Today's Uncertain Times

Key Thought:

A very popular topic at the moment in light of the financial crisis around the world today. Presented by Professor Paul Tiffany of University of California - Berkeley.

Summary:

- rationality is a western biased concept, there's a lot more at play particularly in Asian economies than hard, cold rational decision making - eg. fengshui, lucky numbers

- Risk management has always talked about pricing the risk, however, at some point, we moved to uncertainty, and that cannot be measured/mitigated using traditional understanding of risk or rational thinking

- things happen for a reason, people (customers) do not choose randomly, they choose for a reason, find out what is the reasons

- China will not be a dominant economy in the 21st century. Reason: innovation belongs to the second and third child, not the first. With China's one child policy, it will not work

- Interesting tidbit: UCB Nobel prize winners gets free parking. Greater incentive than money or position

- Paul Tiffany & associates will never recommend hiring first child as HR Director!

- On corporate structure, we optimize for effectiveness and efficiency, not suitable when we need to be flexible and responding to marketing changing condition

- Marxism concept: Marx was a change agent. Things happen oftentimes because of the environment condition, eg. Khmer Rouge. Kill everyone with glasses, start from a clean slate, too hard to change people

- Many CEO are Marxist and don't know it. Wholesale changes alienate the very people they are dependant on to make changes to turnaround company

- Hawthorne Studies - besides employees being more productive when being watched, recognition also improves productivity

- GURU - Geee...You are You, and being asked to pay for it.

- Values in a company is What You Are Willing to Reward

My Comments:

This presentation was part of HASS - KMDC Executive Series Co-Presentation. It was a useful synopsis of Strategic Planning and Execution. Good for those who are new to this area, unfortunately I am already familiar with most of it. Key thoughts I learned in these two days was Risk and Uncertainty. The networking was also fantastic.

Reference: Strategy Execution & Leadership in Today's Uncertain Times by Professor Paul Tiffany, Haas-KMDC Executive Series Co-Presentation, Dec 1-2, 2008.