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| 1. The First 90 Days: Critical Success Strategies for New Leaders at All Levels by Michael Watkins | |
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Book Description In this hands-on guide, Michael Watkins, a noted expert on leadership transitions, offers proven strategies for moving successfully into a new role at any point in one's career. The First 90 Days provides a framework for transition acceleration that will help leaders diagnose their situations, craft winning transition strategies, and take charge quickly. Practical examples illustrate how to learn about new organizations, build teams, create coalitions, secure early wins, and lay the foundation for longer-term success. In addition, Watkins provides strategies for avoiding the most common pitfalls new leaders encounter, and shows how individuals can protect themselves-emotionally as well as professionally-during what is often an intense and vulnerable period. Concise and actionable, this is the survival guide no new leader should be without. "Few companies develop a systematic 'on-boarding' process for their new leaders, even though this is a critical function with major organizational implications. Michael Watkins's The First 90 Days provides a powerful framework and strategies that will enable new leaders to take charge quickly. It is an invaluable tool for that most vulnerable time-the transition." -Goli Darabi, Senior Vice President, Corporate Leadership & Succession Management, Fidelity Investments "Every job-private- or public-sector, civilian or military-has its breakeven point, and everyone can accelerate their learning. Read this book at least twice: once before your next transition-before getting caught up in the whirl and blur of new faces, names, acronyms, and issues; then read it again after you've settled in, and consider how to accelerate transitions for your next new boss and for those who come to work for you." -Colonel Eli Alford, U.S. Army "Watkins provides an excellent road map, telling us what all new leaders need to know and do to accelerate their learning and success in a new role.The First 90 Days should be incorporated into every company's leadership development strategy, so that anyone making a transition in an organization can get up to speed quicker and smarter." -Suzanne M. Danielle, Director of Global Leadership Development, Aventis "Michael Watkins has nailed a huge corporate problem and provided the solution in one fell swoop. The pressure on new leaders to hit the ground running has never been greater, and the likelihood and cost of failure is escalating. Watkins's timing with The First 90 Days is impeccable." -Gordon Curtis, Principal, Curtis Consulting "The First 90 Days is a must-read for entrepreneurs. Anyone who's been the CEO of a start-up or early-stage company knows that you go through many 90-day leadership transitions in the course of a company's formative years. In this groundbreaking book, Michael Watkins provides crucial insights, as well as a toolkit of techniques, to enable you to accelerate through these transitions successfully." -Mike Kinkead, President and CEO, timeBLASTER Corporation, serial entrepreneur, and Cofounder and Trustee, Massachusetts Software Council Reviews (10)
I even bought it for a friend as a "happy new job" gift. She loved it, too.
Every bit of this book is gold. From how to approach change implementation based on situation, to managing upwards, to making the mental switch to your new position, it's all been helpful.
Also noteworthy in this book is its straightforward organization- the book lays out 10 areas to consider during a transition, then dedicates a chapter to each, and concludes with a brief summary. The book also reads well, and has examples to clarify the 10 areas. ... Read more | |
| 2. Leading Change by John P. Kotter | |
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Reviews (47)
On the other hand, if you have not seen this done successfully before, you may need more detailed examples than this book provides or outside facilitators to help you until you have enough experience to go solo. I suspect this book will not be detailed enough by itself to get you where you want to go. Here's a hint: The Harvard Business Review article by Professor Kotter covers the same material in a much shorter form. You can save time and money by checking this out first before buying the book. I personally find that measurements are very helpful to create self-stimulation to change, and this book does not pay enough attention in that direction. If you agree that measurements are a useful way to stimulate change, be sure to read The Balanced Scorecard, as well, which will help you understand how to use appropriate measurements to make more successful changes. If you want to know what changes to make, this book will also not do it for you. I suggest you read Peter Drucker's Management Challenges for the 21st Century and Peter Senge's Fifth Discipline. Good luck!
This may seem like a strong statement, but reading this book can be life changing. Its concepts apply across many other business ideas, and it is particularly useful for implementing project management into an organization. Lots of resources are wasted on unsuccessful efforts because often the leaders of some organizations don't know how to implement successful changes. The thought process gets tied up in the existing bureaucracy and remains stalled, going nowhere. In Leading Change, Professor Kotter has performed a commendable job of outlining all the elements that must be addressed. He identifies the most frequent mistakes in effecting change, and suggests eight steps to overcoming obstacles. The author offers some good business essentials, but also adds a solid structure for implementation that can be applied across organizational cultures. Following his recommendations should make it easier for an organization to know what they should be working on and how to progress to the next steps. There are good books that may be more recent than this, but you would do yourself and your organization a disservice if you passed this book by just based on that. As stated earlier, this book lives up to its reputation of being the standard for organizational change.
This book is a little light on practical tools, but it does offer a good overview for managers who are dealing with change.
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| 3. Disneywar : The Battle for the Magic Kingdom by James B. Stewart | |
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| 4. Managing Transitions: Making the Most of Change by William Bridges | |
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our price: $11.86 (price subject to change: see help) Asin: 0738208248 Catlog: Book (2003-05) Publisher: Perseus Publishing Sales Rank: 3990 Average Customer Review: US | Canada | United Kingdom | Germany | France | Japan |
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Book Description The business world is a place of constant change, with stories of corporate mergers, layoffs, bankruptcy, and restructuring hitting the news every day. Yet as veteran consultant William Bridges maintains, the situational changes are not as difficult for companies to make as the psychological transitions. In the best-selling Managing Transitions, Bridges provides a clear understanding of what change does to employees and what employees in transition can do to an organization. Directed at managers and employees in today's corporations, Bridges shows how to minimize the distress and disruptions caused by change. Managing Transitions addresses the fact that it is people who have to carry out the change. When the book was originally published a decade ago, Bridges was the first to provide any real sense of the emotional impact of change and what can be done to keep it from disrupting the entire organization. With new information and commentary on layoffs, corporate suspicion, and the increasing tumult in the business world, Managing Transitions remains the definitive guide to dealing with change. Reviews (18)
This book is well organized, breaking down transition into three phases. Phase I: "The Letting Go Stage", Phase II: "The Neutral Zone" and Phase III: "The New Beginning" In each phase William helps us understand what to anticipate and gives us extremely practical advice and checklists. I also enjoy the awesome quotes throughout the book. Here are some great qoutes from Phase II: "It's not so much that we're afraid of change or so in love with the old ways, but it's the place inbetween that we fear... It's like being between trapezes." Marilyn Ferguson "It takes nine months to have a baby, no matter how many people you can put on the job." American saying "An adventure is only an inconvience rightly understood. An inconvience is only an adventure wrongly understood." C.K. Chesterton Get the book. It is well worth your investment. It will help you with your greatest asset: PEOPLE.
Bridges asserts that transition is not synonymous with "change." A change occurs when something in the external environment is altered. In an organizational setting this would include changes in management, organizational structure, job design, systems, processes, etc. These changes trigger an internal psychological reorientation process in those who are expected to carry out or respond to the change. Transition is this internal process that people must go through in order to come to terms with a new situation. Unless transition occurs, change will not work. Bridges believes that the failure to identify and prepare for the inevitable human psychological adjustments that change produces is the largest single problem that organizations encounter when they implement major change initiatives. Unfortunately, many managers, when confronted with predictable change-induced resistance by those charged with implementing a change, respond in punitive and inappropriate ways that only serve to undermine the change effort. Due to their lack of understanding of transition, they do not possess the skills to facilitate it effectively. Leaders and managers often assume that when necessary changes are decided upon and well planned, they will just happen. Unless the transition process is handled successfully by management, all that careful decision making and detailed planning will matter little. We must face the fact that for a change to occur, people must own it. Unless people go through the inner process of transition, they will not develop the new behavior and attitudes the change requires. Change efforts that disregard the process of transition are doomed. Bridges presents the reader with a simple three-phase transition model that eliminates much of the mystery surrounding the human side of change. He then provides would-be change agents with a series of checklists that serve as a road map for managing transitions in the real world. Both research and experience remind us that although a change can be implemented quickly, the psychological process of transition takes time. Transitions can take a very long time if they are not well managed. Few organizations can afford to wait that long for the results. The good news is that leaders can learn basic transition management strategies. Armed with these skills, they can lead employees through complex and difficult changes with renewed energy and purpose, and can actually accelerate the process of transition. With as many as half of all major organizational change efforts failing, leaders must learn new strategies and skills that will increase the odds of success. Bridges has provided us with a toolkit for managing the human side of change that is well worth considering.
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| 5. Confronting Reality : Doing What Matters to Get Things Right by Larry Bossidy, Ram Charan | |
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Amazon.com Cisco, 3M, KLM, Home Depot, and the Thomson Corporation are just a few of the companies that Bossidy and Charan examine. To demonstrate how to examine a business using the business model, Bossidy and Charan map out external variables, financial targets, internal activities, and an iteration stage (defined as a time to "make tradeoffs, apply and develop business savvy") to prove how a dynamically evolving business model will help improve performance. Larry Bossidy, retired chairman and CEO of Honeywell International and Ram Charan, author of What the CEO Wants You to Know and Profitable Growth Is Everyone's Business, have once again shed industrial-strength light on how to run a successful business. --E. Brooke Gilbert Amazon.com Exclusive Content Amazon.com Interview: Larry Bossidy and Ram Charan Larry Bossidy and Ram Charan Discuss the Airline Industry | |
| 6. Lean Transformation: How to Change Your Business into a Lean Enterprise by Bruce A. Henderson, Jorge L. Larco, Stephen H. Martin | |
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our price: $22.83 (price subject to change: see help) Asin: 0964660121 Catlog: Book (1999-05-01) Publisher: Oaklea Publishing Sales Rank: 53552 Average Customer Review: US | Canada | United Kingdom | Germany | France | Japan |
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Book Description It doesn't take a genius to know that the low cost producer that meets customers "want" dates 99% of the time yet carries only two days inventory has a tremendous competitive advantage. So put value stream mapping, just-in-time (JIT), six sigma, kanban, kaizen, continuous flow, empowered teams, and all the other techniques you'll learn about in Lean Transformation to work. Order a copy for everyone involved in your transformation into a lean enterprise. Reviews (2)
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| 7. The Goal by Eliyahu M. Goldratt, Jeff Cox | |
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Book Description Reviews (189)
Rogo's dialogue with this teacher as he wrestles with his own plant and it's manufacturing problems serves up a rich body of material that requires no background in manufacturing or assembly line processes. It remains interesting even as inventory management, assembly throughput, and bottleneck analyses take place in his quest to keep his plant in business. The use of a hiking trip to discuss fluctuations and dependencies as a scout troop progresses through the woods is superb, making "Herbie" a recognized name among many manufacturers. The book also provides a valuable illustration of the importance and impact of "choosing what to measure," that is, which numbers (production data) one should track to determine the effectiveness of an operation. Reading "The Goal" is well worth the time for anyone managing a business. Its principles are far-reaching and applicable in a wide variety of situations. Given its popularity, you can pretty much bet that your competitors have read it.
I got tired of this fast, because I don't have time to read it all. I read about 2 books a weeks, but not when I have to sit through a bunch of boring details. Intead, I like the setup of "Mastering the Rockefeller Habits." The first chapter was designed for executives who won't spend the time reading the whole thing, but instead want an overview to quickly grasp the point of the book. These busy readers are then instructed to find the chapters that they are interested in and read up as needed. I recommend reading the whole book, "Mastering the Rockefeller Habits" but I like the option to read or just review! Unfortunately, I didn't have this option with "The Goal."
The beauty of this work is that it is able to distill complex but dry operational management issues and transform them into easy to follow conceptual framework that is both enlightening and entertaining. The solutions to the problems are stated in plain language that appear almost like common sense, but "common sense is not so common." This book is a must-read for operation consultants, VCs, and restructuring artists. ... Read more | |
| 8. Does IT Matter? Information Technology and the Corrosion of Competitive Advantage by Nicholas G. Carr | |
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our price: $17.79 (price subject to change: see help) Asin: 1591394449 Catlog: Book (2004-04) Publisher: Harvard Business School Press Sales Rank: 13008 Average Customer Review: US | Canada | United Kingdom | Germany | France | Japan |
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Book Description A Bold Manifesto on the Future of Information Technology Over the last decade, and even since the bursting of the technology bubble, pundits, consultants, and thought leaders have argued that information technology provides the edge necessary for business success. IT expert Nicholas G. Carr offers a radically different view in this eloquent and explosive book. As IT's power and presence have grown, he argues, its strategic relevance has actually decreased. IT has been transformed from a source of advantage into a commoditized "cost of doing business"-with huge implications for business management. Expanding on Carr's seminal Harvard Business Review article that generated a storm of controversy, Does IT Matter? provides a truly compelling-and unsettling-account of IT's changing business role and its leveling influence on competition. Through astute analysis of historical and contemporary examples, Carr shows that the evolution of IT closely parallels that of earlier technologies such as railroads and electric power. He goes on to lay out a new agenda for IT management, stressing cost control and risk management over innovation and investment. And he examines the broader implications for business strategy and organization as well as for the technology industry. A frame-changing statement on one of the most important business phenomena of our time, Does IT Matter? marks a crucial milepost in the debate about IT's future. Reviews (21)
But with the ready availability of computers, storage, software and people, has the IT function perhaps become one of the foundation building blocks of a corporation, just like sales, engineering or manufacturing? Similar to other books that are appearing, the author argues that it is time to look at IT with a managerial view. What are you getting for the investment? Is IT simply another cost center or a strategic benefit to the company? How do you control costs and yet get the information you need in a timely manner? The book provides an interesting and timely view of such points.
By way of analogy, most bomb threats are bogus, but each one must be treated as if it were genuine. With that, in his new book Does IT Matter?, Nicholas Carr throws a bomb, and it turns out to be a dud. Carr's book is an outgrowth of his article "IT Doesn't Matter," which appeared in the May 2003 issue of the Harvard Business Review. His hypothesis is that the strategic importance of IT has diminished. Carr views IT as a commodity, akin to electricity. He also compares IT to the railroad infrastructure. In the early days, railroads that had their own tracks had a huge advantage, but once the rails become ubiquitous and open, that advantage went away. Carr feels that since all companies can purchase the same hardware and software, any strategic advantage is obviated. It's true that the core functions of IT (processing, network transport, storage, etc.) are affordable and available to all, but there's still huge strategic advantage to be gained in how they're implemented. It's much like two airlines that purchase the same model of airplane. If one airline streamlines and optimizes operations, trains its staff and follows standard operating procedures, it can expect to make a profit. If the other has operational inefficiencies, labor problems and other setbacks, it could lose money. The airplane is identical, but the outcome is not. Carr is correct in that there have been some huge IT outlays of dubious value. But to say that IT is simply the procurement of hardware and software is to be blind to the fact that hardware and software are but two of the myriad components of IT. To use the railroad metaphor, hardware and off-the-shelf software are the rails of IT; how they are designed and implemented is what provides their strategic value. Carr views IT as completely evolved. But the reality is that although IT has matured, it still is in a growth mode. The IT of today is vastly different from the IT of both 1999 and 2009. Carr's view that most innovations within IT will tend to enhance the reliability and efficiency of IT rather than provide a competitive advantage is in direct opposition to what is said by every CIO I have met.
The book (like the article) has a provocative title, but in fact Carr's claim is much narrower than the title suggests. Carr is only focused on *corporate IT*, the systems that companies build and deploy for their own use and the use of their customers and suppliers. He is not looking at consumer IT --- the digital wonders that are showing up in our living rooms, cars, and in our pockets. And he is not looking at governmental IT --- the systems that are used to find terrorists, wage combat, or evaluate welfare eligibility. More significantly, Carr is also focused on one corporate use of IT, to attain a *competitive advantage*. Can Coke achieve some competitive advantage over Pepsi by implementing a new application? Carr is not asking whether IT can add value to a company --- clearly there are thousands of examples of IT saving money, providing value to customers, to suppliers, and adding value in other ways. Instead, Carr asks whether we can expect IT to add this value in a way that competitors cannot quickly realize the same added value. Can Coke do something significant with IT that will not be quickly replicated by Pepsi? Finally, Carr agrees that in the past IT has been used to gain competitive advantages. By automating reservations, pricing, and seat assignments in the 1960s, American Airlines really did achieve a lasting advantage over its rivals. By creating logistics applications in the 1980s, Walmart really did achieve a lasting advantage over Sears and Kmart. Carr's claim is that *those days are gone*, that the days of using IT for competitive advantage are over. His claim rests on three broad trends, each of which undercuts the opportunities for competitive advantage. First, the time needed to replicate a particular IT application---the "technology replication cycle" in his words---has shortened considerably over the last few decades. Hardware, tools and platform technologies have made it increasingly easier, faster, and cheaper to replicate a successful application built elsewhere. This declining technology cycle is likely to continue, and make any advantage in the ownership of a particular application to be short-lived. Another reinforcing trend is the push toward standardization. 40 years ago every company built their own applications. Since then software products have emerged. These products can always be customized to particular situations, but they often are not. It is often cheaper and easier to adapt the business to the best practices in SAP, rather than to customize SAP to the specifics of the business. The economics of standardization --- the cost advantages for companies to be like their competitors --- trump the advantages of maintaining differences. BPOs further this push to standardization, and away from competitive advantage via IT. A third trend is the spread of IT business insight. It is much better understood today how to achieve value with IT. The secrets of how to do this spreads with individual experience, with analysts, with books and trade rags, and with consultants. If a company has success with a particular technology, everyone in their industry knows about it quickly. These three trends (Carr claims) are reducing IT to a role much like electricity. Electricity is critical to all businesses today, but (aside from mishaps like the recent problems in California) no one would expect to find a competitive advantage in superior use of electricity. Does Carr make his case? I think he does, although there are some big exceptions to his argument. ... Read more | |
| 9. The Improvement Guide : A Practical Approach to Enhancing Organizational Performance (Jossey-Bass Business and Management Series) by Gerald J.Langley, Kevin M.Nolan, Clifford L.Norman, Lloyd P.Provost, Thomas W.Nolan, Clifford L. Norman | |
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Book Description Based on W. Edwards Deming's model, this guide offers an integrated approach to testing and improvement?one that is designed to deliver quick and substantial results. Using simple stories to illustrate core ideas, the authors?all active consultants?introduce a new, flexible model for improving quality and productivity in diverse settings. They draw from research conducted in a variety of areas?manufacturing, government, and schools?to present a practical tool kit of ideas, examples, and applications. What's more, they've included a Resource Guide to Change Concepts so even beginners can utilize the tested techniques of some of the world's most experienced practitioners. Reviews (6)
1. The first revelation this book brings is: improvement is a change. From this viewpoint, the fundamental questions faced by the improver (e.g. Green Belts and Black Belts) are: (1) What are we trying to accomplish? (Define phase) 2. The Guide emphasizes testing a change in small scale before full implementation so we can learn and improve the proposed change using the Plan-Do-Study-Act cycle. This significantly improves our typical 'trial-and-error' approach. 3. The Guide classifies improvement into 3 categories: 4. Best of all is a list of 70 Change Concepts categorized under 9 sessions, e.g. standardization under Manage Variation, Synchronize under Improve Work Flow. This book is very easy to follow and contains a lot of examples. It is a must read for all improvement practitioners including Green Belts and Black Belts.
A few of the items from the book which ring in my mind continuously include: Improvement can be viewed as a science (in fact, some of us do!). Three questions provide the framework for improvement: 1. What are we trying to accomplish? 2. How will we know if we if a change will result in an improvement? 3. What changes can we make that will result in improvement? While there are many opportunities to change, there are only 70 change concepts (included in the Appendix) available to us today. Any system for improvement will include five activities: 1. Establishing and communicating the purpose of the organization/team. 2. Viewing the organization/team as a system. 3. Designing and managing the a system for gathering information for improvement 4. Planning for improvement and integrating it with business planning. 5. Managing individual and team improvement activities. Leaders are required to implement change that will result in improvement and they draw their power from three sources (the informal leader gets his/her power from sources 2 and 3 below). 1. Authority or position 2. Knowledge 3. Personality and persuasiveness (caring about people) These items and many more, are introduced in the book via an easy-to-understand model that uses proven methodology for developing, testing, and implementing change that produces specific, identifiable improvements.
This book should be studied by anyone, beginner or experienced professional, interested in a systematic method for improving processes, products, or services. I strongly recommend it.
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| 10. The Power of Appreciative Inquiry: A Practical Guide to Positive Change by Diana Whitney, Amanda Trosten-Bloom, David Cooperrider | |
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our price: $18.45 (price subject to change: see help) Asin: 1576752267 Catlog: Book (2003-01-01) Publisher: Berrett-Koehler Publishers Sales Rank: 16659 Average Customer Review: US | Canada | United Kingdom | Germany | France | Japan |
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Book Description Reviews (8)
The book is organized into three sections: Chapters 1-4 explain what AI is and how it works, Chapters 5-10 explain ways to practice AI and the last Chapter 11 deals with why it works so well. Additionally, each chapter gives specific, practical advice on "how to" with charts and case studies. Perhaps the most valuable chapter is in the third section, which answers the questions "why does AI work so effectively? Perhaps you may do as I did and read this chapter first. This is a very powerful and valuable chapter. Although based on sound theory and research, the real value of this book comes from the experiences each author shares with us, which highlights ideas and concepts with specific examples from the field. Appreciative Inquiry can seem to be deceptively simple. Simple, it is not. We have only scratched 5% of the learnings from AI's beginnings and there is so much more to learn and experience. The importance of this particular book is that it can be so helpful for both the novice (the one who is trying to understand what AI is all about) and the experienced practioner (the OD professional who uses AI in her practice). It is both a good first book to read to try to understand the underpinnings of Appreciative Inquiry and a tool book for us more experienced folks. This is a good solid book to have on your shelf that you can refer to often to clarify understandings, theory, and applications of appreciative inquiry. It's a joy to read. I highly recommend it; the ROI is priceless! Helene C. Sugarman
The model in chapter 2 of "change agenda, form of engagement, and inquiry strategy" is an excellent way of looking at an initiative from the beginning, parallel to Peter Block's "entry and contracting" phase in action research, but in AI language and philosophy. Whitney & Trosten-Bloom add 3 more underlying principles of AI to Cooperrider's original work:wholeness, enactment, and free choice. They are right on in my opinion. What was particularly helpful in this section was the "principle in practice" followed by an example. The tables of suggested steps/sequences for each section describing the 4D model in practice were particularly helpful guides, though the authors continually remind the reader of the improvisational nature of this philosophy and approach to positive change. The whole book was respectful of different learning styles and made meaning out of so much of the earlier, more academic publications about appreciative inquiry. Whitney and Trosten-Bloom have created a very "user friendly," accessible handbook, well organized and written in layman's language. I find it helpful for the current practitioner of AI wanting to learn through the lens of case study snippets, for the novice wanting to learn how it works and how to "do it" before investing the time for more rigorous academic readings, for the manager who wants to approach change in a positive framework, and the OD consultant seeking new, innovative ways to co-create effective, energized workplaces with their clients. Hats off to the authors for this most recent addition to the growing body of knowledge on AI!
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| 11. The Heart of Change: Real-Life Stories of How People Change Their Organizations by John P. Kotter, Dan S. Cohen | |
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Amazon.com Reviews (15)
However, I was told that the book focused this time more on the behavior changes of people that are needed to make change successful...and from experience, I knew that getting employees to really want to make a change makes all the difference to a successful change effort. The book uses stories to describe how to educate and motivate others to accept change through the 8-step process. If you just look at the eight steps, they appear dry and built on well-worn cliches. Increase Urgency, Build the Guiding Team, Get the Vision Right, Communicate for Buy-In, Empower Action, Create Short-Term Wins, Don't Let Up, and Make Change Stick. Certainly, anyone that has led change can figure this out. However, I found the stories to be very practical in describing the concept of See, Feel, Change that is needed by all employees to really embrace the change emotionally and not just logically. They have to want to change their own behaviors, not just for the project, but forever. The story I could relate to the most was "The Boss Goes to Switzerland". I have seen this happen numerous times for others and myself. This book has practical content that can be referred to over and over again...I will use this book each time a new change initiative gets underway. Recommended for all business leaders.
Filled with real-life stories, this book offers lots of inspiration. Perhaps the strongest anecdote is the story of an executive presentation made by a mid-level manager and an intern about revamping a wasteful purchasing process. Instead of cranking out a fancy report, the manager and intern filled a box of 424 different pairs of gloves (with attached price tags ranging from $5-$17) that the company was buying. Then they dumped the box on the boardroom table, clearly making a point that this process needed to be fixed. The moral: Communicate change by appealing to emotions. And often, emotions are stirred by showing people, not just telling them. A solid read.
One of the things I enjoyed most about reading this book was the clear and logical layout with the interesting web-page navigation graphics. Also the case studies from "real life" gave practical examples of what successful change might look like in our companies. His eight steps to successful change are: 1. Increase Urgency, 2. Build the Guiding Team, 3. Get the Vision Right, 4. Communicate for Buy-In, 5. Empower Action, 6. Create Short-Term wins, 7. Don't let up, 8. Make Change Stick. All of this helps in building a practice of Shaping the Corporate Culture, which is, of course, near and dear to our hearts at dbkAssociates. Many of the insights in this book will be of practical use to us and to our clients. ... Read more | |
| 12. Double-Digit Growth : How Great Companies Achieve It--No Matter What by MichaelTreacy | |
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our price: $10.20 (price subject to change: see help) Asin: 159184066X Catlog: Book (2004-12-28) Publisher: Portfolio Trade Sales Rank: 36876 Average Customer Review: US | Canada | United Kingdom | Germany | France | Japan |
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Amazon.com His first three disciplines--"keep the growth you have already earned," "take business from your competitors," and "show up where the growth is going to happen"--may seem obvious, and even beyond the control of the average executive. But Treacy provides frameworks for applying each as business practice, not just wishful thinking. His fourth and fifth disciplines, "invade adjacent markets" and "invest in new lines of business," are perhaps the most controversial. Here, though, he is not advising rampant conglomeration. Rather, he stresses the need for acquisitions and expansions made based on reliable data predicting long-term growth with risk spread over diversified investments. Treacy is not presenting a step-by-step formula for success. Through his quick, readable prose he offers instead a course in mental re-training for executives. A management team must construct tools for tracking and measuring its success against each of the five growth disciplines, and it must build a corporate culture that instills growth as a core goal. While he offers no guarantees, his arguments are compelling, and the nuanced management strategies he suggests seem a plausible base for attaining predictable growth. --Patrick OKelley Reviews (6)
The highlights of the book are the way the ideas are laid out and then described in action with examples across several industries.Some of the tactics include; Spread the risk, Take small bites, Balance your strategies, and Commit to superior value.One key according to Treacy is to accept that growth is a choice.He describes managers talking about growth difficulties as "a little like listening to an addict in denial. Don't they understand that growth is a choice - a choice that lies entirely within their power and no one else's?" (Page 17). Treacy covers 5 disciplines; Improving customer base retention; Market share gain; Market positioning; Penetrating adjacent markets; New lines of business. While these are certainly solid examples of the ways to approach growth, the real depth in the book is around understanding consumer behavior.He points out the reality behind why most "customer retention" strategies don't work, and how to increase "switching costs" of your products and services.Making your products and services "sticky" is a key to growth working well, by retaining current customers while attracting new ones. While the information and theories here are certainly not the final word on growth, this book should be required reading for all the corporate "victims" blaming their woes on things outside their control.It is clear that countless opportunities exist within every market niche and through every economic trend to facilitate growth.Many companies do in fact continue to grow, and they are usually ones who are committed to it.The companies that do not grow are usually gone in time.The section on Corning, caught in the euphoria of the late 90's telecom boom, was a great example of how even market leaders fail to get ahead of the indicators and lose as a result. Overall, a great read, with some good insights.I would have liked to see a bit more focus on the inspirational factors that great leaders bring to align their employees to deliver when the employees themselves may not see the way.That is obviously a huge key to executing a strategy, and was not covered as in depth as it could have been here.Otherwise, a good look at how to achieve growth and will likely cause many light bulbs to go on while reading.
Since then, inflation has declined to almost nothing, GDP has been stagnant during the Bush administration (with a recent up tick), and the dollar has been plummeting (making overseas revenues worth much less).That's a tougher environment to grow in than even the 1960s.So Double-Digit Growth is talking about a difficult target for those who are not in the highest growth industries.In appreciation of that point, Michael Treacy (coauthor of The Discipline of Market Leaders) says that companies should measure their growth in terms of total gross profits.So if you are expanding your value-added enough, you may be able to have double-digit growth while having less than double-digit revenue growth.That said, he argues that ANY company can have double-digit growth.I assume that he means it is POSSIBLE.Based on the track record of the last three years, most would agree that it?s IMPROBABLE though if we look at time frames of five years or more. As with The Discipline of Market Leaders, Mr. Treacy looks at a few successful companies that have met his targets in the past (Johnson Controls, Mohawk Industries, Paychex, Biomet, Oshkosh Truck and Dell) and extrapolates what they did into a few simple lessons.The strategic lessons are: 1) Spread your risk by pursuing many growth initiatives 2) Take on small growth challenges so you don't become overwhelmed by the size of the task 3) Use a variety of strategies involving organic growth and acquisitions, as appropriate to grow 4) Be committed to providing superior value 5) Develop your management to handle growth opportunities before tackling more opportunities 6) Make growth a central focus of your management processes (using Balanced Scorecard-like measures). To implement these six strategic perspectives, he counsels that each company should focus on five management disciplines: a) Reduce customer turnover b) Take business from competitors c) Emphasize those areas in your industry that are growing fastest d) Invade adjacent markets where you can bring important advantages to bear e) Invest in new lines of business The heart of the book is devoted to these five disciplines.Each receives a chapter that talks about the difficulties involved and how to over come those difficulties.I thought that the book's advice was most practical and interesting when it talked about the disciplines. If I look back to when I was first learning about strategy, I think that every article or book I read talked about the last four disciplines . . . but omitted the first.In fact, the best chapter in the book is on the first discipline, especially in debunking those who advocate that you can build loyalty in customers with any method other than making your value proposition be terrific. Another excellent part of the book comes in the case history of First Data which used these disciplines to improve its situation.Presumably First Data was a consulting client of Mr. Treacy's. I was pleased to see that Mr. Treacy noted that many of his champion growers frequently changed business models in positive ways (especially Paychex and Dell).Double-Digit Growth is rare book in noting and describing such management excellence.In doing so, the book's only weaknesses were that few examples of continuing business model innovation were included and not enough attention was paid to describing the key elements of this new and important management discipline.I hope in future books that Mr. Treacy will place more emphasis on the best practices in this area. The book's perspective is that of the strategist and marketing executive, so those who come from other perspectives will probably gain the most from this book.Double-Digit Growth will give other executives a chance to understand what they should be focusing on as they meld their talents together with others in the organization. If you are, however, a veteran strategist or marketing executive, you may get little benefit except from reading whichever company cases in the book (listed above) you have not read or heard about before. As I finished the book, I wondered about how companies can make it more exciting to work on customer retention.Perhaps Raving Fans! has it right in that regard. If you are not in a high growth market, though, I would still rate your chances of double-digit growth in revenues or gross profits to be slim . . . unless you become a master of continuing business model innovation.
He provides five disciplines: 1) Keep the growth you already have The disciplines and their explaination are make in lively action oriented prose with actionable advice.This is a powerful book written about a powerful subject.I have been dismayed by the quality if business book ideas over the past three years and now with this book and some others, ideas and interest in them seem to be getting off the ground. Read this book, if nothing more than to check yourself and your company against these disciplines.Look at what you are doing and how you are positioning yourself for growth.I think that you will be surprised at what you uncover.
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our price: $19.77 (price subject to change: see help) Asin: 0385499841 Catlog: Book (2001-01-16) Publisher: Currency Sales Rank: 7846 Average Customer Review: US | |