http://barrylinetsky.com/wp-content/uploads/2020/05/chris-lawton-4ozvhBh2LoY-unsplash-scaled-e1590725001827.jpg 837 1255 Barry Linetsky http://barrylinetsky.com/wp-content/uploads/2017/03/RDean-BLL-Logo-Blue-300x44.png Barry Linetsky2020-11-24 12:03:332020-11-24 12:07:14The Imperative of Business Strategy
Strategy is the roadmap for success. It is an articulated expression of what the organization strives to achieve, and how it will go about doing so.
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It is a common perspective amongst leaders that an organizational statement of purpose must be short, memorable and motivating like the world’s greatest marketing slogans or brand tag lines. What these executives are never able to validate is why this is better or more important than a more comprehensive statement that explains and communicates the purpose of the business.
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The key to benefitting from failure does not reside in failing. Failing is not a virtuous act.
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Throughout his roughly forty-five-year career, from Kansas City, Missouri, to California and Florida, Walt Disney marched towards a higher vision of possibility and actuality as seen in contrast to the “failed” solutions of business and urban planning conventions. He was an innovator.
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In the right context and when appropriately framed, the identification of failure is one the best way to scout out and identify the possibilities for improvement. To the keen entrepreneurial eye, the failure of others can shine light on potential opportunities.
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There is a strange idea that has been floating around the world of management for the past few decades. It is this: failure is good and should be both encouraged and embraced.
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With the recent interest in applying Austrian economic theory towards a better understanding of managerial effectiveness, there is value in reflecting on Walt Disney’s career through an Austrian lens.
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A technique to improving managerial performance when planning is to take into account the second and third-order consequences and implications of one’s actions across an expanding time period. The farther out one is able to project and consider, the better.
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The term praxeology is used to convey the general scientific study of human behaviour as differentiated from the study of the clockwork deterministic physical scientific world of natural stuff void of consciousness.
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Henry Hazlitt does an excellent job presenting the importance of recognizing and always taking into consideration the likely unseen and unintended consequences of intended action in the realm of economics in his classic book Economics in One Lesson.