Posts Tagged ‘business books’

Recommended Reading – Summer 2015

Tuesday, May 26th, 2015

After another rough winter, summer’s almost here! We’ll soon be reveling in sunshine, hot temperatures and blue skies as we enjoy water sports, barbeques, and relaxing in a lounger or hammock with a good book. Here are some of the personal favourites we’ve selected from the various “best books in 2015” lists recently published on 800ceo read’s blog:

1.  The Rise and Fall of Strategic Planning
     Henry Mintzberg, Free Press

If you follow our blog you’ll know that Henry Mintzberg is one of my favourite strategic thinkers. In this definitive history, he argues that the term is an oxymoron – that strategy cannot be planned because planning is about analysis and strategy is about synthesis. That is why, he asserts, the process has failed so often and so dramatically. He unmasks the press that has mesmerized so many organizations since 1965: strategic planning.

Mintzberg proposes new and unusual definitions of planning and strategy, and examines in novel and insightful ways the various models of strategic planning and the evidence of why they failed. Reviewing the so-called “pitfalls” of planning, he shows how the process itself can destroy commitment, narrow a company’s vision, discourage change, and breed an atmosphere of politics.

Henry Mintzberg is one of the most brilliant and original management thinkers and a great Canadian.

2.  Family Business: Practical Leadership Succession Planning: Exceed Your Expectations
     Ronald P. Smyser, Abbott Press

Less than 15% of family businesses survive to and through the second generation of leadership.

Smyser’s book provides valuable insights which demystify and simplify the process of succession; help ensure continuing financial security for the founder and his/her family; and enhance the effectiveness and balance of professional and private life.

Some of the topics he covers are:

  • How ownership transition without a clear, practical leadership succession plan can decimate your business’s chance of survival.
  • The fifteen key causes of leadership succession failure and how to avoid them.
  • What the next generation really wants but won’t tell you and what you should do.
  • The issues around choosing one of your children to succeed you, and how to avoid them.

Whether you already have a family business or are starting one, “Family Business: Practical Leadership Succession Planning” is a must read.

3.  Fewer, Bigger, Bolder: From Mindless Expansion to Focused Growth
     Sanjay Khosla and Mohanbir Sawhney, Portfolio

When it comes to growing revenues, not all dollars are equal. In company after company that the authors worked for or researched, they saw businesses taking on more products, markets, people, acquisitions – more of everything except what really mattered: sustainable and profitable growth.

In many of these companies – large or small, from America to Europe to Asia – every quarter became a mad dash to find yet another short-term revenue boost. There had to be a better way. The answer lies in “Fewer, Bigger, Bolder”, a market-proven, step-by-step program to achieve sustained growth with rising profits and lower costs.

“Fewer, Bigger, Bolder” crosses the usual boundaries of strategy, execution, people and organization. Its framework shows how you can drive growth by targeting resources against priorities, simplifying your operations, and unleashing the potential of your people.

“Fewer, Bigger, Bolder” challenges the conventional wisdom about growth.

4.  Business Strategy: A Guide to Effective Decision-Making
     Jeremy Kourdi, The Economist

A good strategy, well implemented, determines a business’ future success or failure.

Yet history is full of strategic decisions that were ill-conceived, poorly organized and consequently disastrous. This updated guide looks at the whole process of strategic decision-making, from vision, forecasting, and resource allocation, through to implementation and innovation.

Strategy is about understanding where you are now, where you are heading and how you will get there.

But getting it right involves difficult choices: which customers to target, what products to offer, and the best way to keep costs low and service high. And constantly changing business conditions inevitably bring risks. Even after business strategy has been developed, a company must remain nimble and alert to change, and view strategy as an ongoing and evolving process.

The message of this guide is simple: strategy matters, and getting it right is fundamental to business success.

5.  Business Strategy: Managing Uncertainty, Opportunity, and Enterprise
     J.-C. Spender, Oxford University Press

Emphasizing that firms face uncertainties and unknowns, Spender argues that the core of strategic thinking and processes rests on leaders developing newly imagined solutions to the opportunities that these uncertainties open up.

Drawing on a wide range of ideas, he stresses the importance of judgment in strategy, and argues that a key element of the entrepreneur and executive’s task is to engage chosen uncertainties, develop a language to express and explain the firm’s particular business model for dealing with these, and thus create innovation and value.

At the same time he shows how the language the strategist creates to do this gives the firm identity and purpose, and communicates this to its members, stakeholders, and customers.

Spender introduces these ideas, and reviews the strategy tools currently available from consultants and academics.

The book outlines a structured practice that managers and consultants might chose to follow, not a theory.

6.  Reinventors: How Extraordinary Companies Pursue Radical Continuous Change
     Jason Jennings, Portfolio

For most businesses, success is fleeting. There are only two real choices: stick with the status quo until things inevitably decline, or continuously change to stay vital. But how?

Bestselling leadership and management guru Jason Jennings and his researchers screened 22,000 companies around the world that had been cited as great examples of reinvention.

They selected the best, verified their success, interviewed their leaders, and learned how they pursue never-ending radical change. The fresh insights they discovered became Jennings’s “reinvention rules” for any business. The featured companies include Starbucks—which turned itself around by making tons of small bets on new ideas.

7.  The Moment You Can’t Ignore: When Big Trouble Leads to a Great Future: How Culture Drives Strategic Change
     Malachi O’Connor and Barry Dornfeld, Public Affairs

Culture not only affects how we think and behave, it’s the set of agreements and behaviors that drive how we act in groups and the decisions we collectively make.

Every organization now faces challenges it can’t ignore as new forms of work, communication and technology wreak havoc on the way we do things.

Malachi O’Connor and Barry Dornfeld provide powerful insights on how to confront the clash of old and new. They show how to ask the big questions that point the way to renewing a culture.

When people don’t know who’s in charge, are unsure of what their company identity is, and can’t get behind their leaders, they rarely have the ability or will to innovate.

Old ideas get rehashed. New ideas get squashed or lost. Initiatives that are designed to create an innovation culture or spur creativity go nowhere.

8.  Execution: The Discipline of Getting Things Done
    Larry Bossidy, Ram Charan, Crown Business

Finally – an old favourite – a book that shows how to get the job done and deliver results.

The leader’s most important job is selecting and appraising people. Why? With the right people in the right jobs, there’s a leadership gene pool that conceives and selects a strategy that can be executed, a strategy in sync with the realities of the marketplace, the economy, and the competition.

Once the right people and strategy are in place, they are then linked to an operating process that results in the implementation of specific programs and actions and that assigns accountability.

This kind of effective operating process goes way beyond the typical budget exercise that looks into a rearview mirror to set its goals. It puts reality behind the numbers and is where the rubber meets the road.

Putting an execution culture in place is hard, but losing it is easy.

For a full listing of best books in 2015, please visit http://800ceoread.com/

 

Click here and automatically receive our latest blog posts.

 

Jim Stewart is the founding Partner at ProfitPATH. He has been working with business owners for over 16 years to increase profits and improve the value of their companies. LinkedIn

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Recommended Reading – Winter 2014

Tuesday, November 11th, 2014

Hello, winter!  Snowflakes are dancing on the air and covering the land in a wardrobe of white.  A touch of arctic air is pinching our noses and cheeks.  Time to get comfortable and pick up a good book. Here are some of the personal favourites we’ve selected from the various “best books in 2014” lists published recently on 800ceo read’s blog:

Drawing upon a six-year research project at the Stanford University Graduate School of Business, James C. Collins and Jerry I. Porras took eighteen truly exceptional and long-lasting companies and studied each in direct comparison to one of its top competitors. They examined the companies from their very beginnings to the present day — as start-ups, as mid-size companies, and as large corporations. Throughout, the authors asked: “What makes the truly exceptional companies different from the comparison companies and what were the common practices these enduringly great companies followed throughout their history?” Filled with hundreds of specific examples and organized into a coherent framework of practical concepts that can be applied by managers and entrepreneurs at all levels, Built to Last provides a master blueprint for building organizations that will prosper long into the 21st century and beyond.

Obviously, there are lots of things that matter now. But in a world of fractured certainties and battered trust, some things matter more than others. While the challenges facing organizations are limitless; leadership bandwidth isn’t. That’s why you have to be clear about what really matters now. What are the fundamental, make-or-break issues that will determine whether your organization thrives or dives in the years ahead? Hamel identifies five issues are that are paramount: values, innovation, adaptability, passion and ideology. In doing so he presents an essential agenda for leaders everywhere who are eager to…move from defense to offense, reverse the tide of commoditization, defeat bureaucracy, astonish their customers, foster extraordinary contribution, capture the moral high ground, outrun change, build a company that’s truly fit for the future. Concise and to the point, “What Matters Now” will inspire you to rethink your business, your company and how you lead.

A guide for protecting your wealth in an age of turbulent business cycles. In “Prosperity in the Age of Decline”, Brian and Alan Beaulieu offer an informed, meticulously-researched look at the future and the coming Great Depression.

Surprisingly, most companies fail not because demand is low or conditions are difficult, but simply because they don’t know how to manage, nurture, or even maintain their own growth and success. At each developmental stage, they become vulnerable to chaos, no matter how strong or expert their leaders. Most leaders feel a sense of isolation, assuming they have to know it all and end up making critical mistakes. Dando calls these critical mistakes the 12 Warning Signs of Success, and he helps leaders across industries identify, anticipate, and avoid them on the way from startup to Fortune 500. Maybe you’ve hired the wrong person, have too many direct reports, or say yes to everything; you might believe your own hype, incentivize failure, or lose track of your core values. Dando, known in leadership circles as the Company Whisperer, encountered all the same challenges as a C-level executive in a high-growth billion-dollar business, and he knows that these moments of truth determine whether the leader and the company become a strong, mature, and sustainable organization, or drift toward an uncertain future.

If you’re aiming to innovate, failure along the way is a given. But can you fail “better”? Whether you’re rolling out a new product from a city-view office or rolling up your sleeves to deliver a social service in the field, learning why and how to embrace failure can help you do better, faster. Smart leaders, entrepreneurs, and change agents design their innovation projects with a key idea in mind: “ensure that every failure is maximally useful. In “Fail Better”, Anjali Sastry and Kara Penn show how to create the conditions, culture, and habits to systematically, ruthlessly, and quickly figure out what works, in three steps:
1. Launch every innovation project with the right groundwork
2. Build and refine ideas and products through iterative action
3. Identify and embed the learning
You may be a “Fortune” 500 manager, scrappy start-up innovator, social impact visionary, or simply leading your own small project. If you aim to break through without breaking the bank–or ruining your reputation—“Fail Better” is for you.

An insider’s look at how a successful leadership pipeline can make or break a company Starting out at GE, where he headed up the company’s leadership institute and revamped the leadership pipeline under Jack Welch, Noel Tichy has served as a trusted advisor on management succession to such leading companies as Royal Dutch Shell, Nokia, Intel, Ford, Mercedes-Benz, Merck and Caterpillar. Now Tichy draws on decades of hands-on experience working with CEOs and boards to provide a framework for building a smart, effective transition pipeline, whether for a multi-billion dollar conglomerate, a family business, a small start-up, or a non-profit. Through revealing case studies like Hewlett Packard, IBM, Yahoo, P&G, Intel, and J.C. Penney, he examines why some companies fail and others succeed in training and sustaining the next generation of senior leaders. He highlights the common mistakes that can generate embarrassing headlines and may even call an organization’s survival into question, and reveals the best practices of those who got it right. Tichy also positions leadership talent development and succession where they belong: at the top of every leader’s agenda.

The market for business knowledge is booming as companies looking to improve their performance pour millions of dollars into training programmes, consultants, and executive education. Why then, are there so many gaps between what firms know they should do and what they actual do? This volume confronts the challenge of turning knowledge about how to improve performance into actions that produce measurable results. The authors identify the causes of this gap and explain how to close it.

According to a study published in “Chief Executive Magazine,” the most valued skill in leaders today is strategic thinking. However, more than half of all companies say that strategic thinking is the skill their senior leaders most need to improve. “Elevate” provides leaders with a framework and toolkit for developing “advanced” strategic thinking capabilities. Unlike the majority of books that focus on strategy from a corporate perspective, “Elevate” gives the individual executive practical tools and techniques to help them become a truly strategic leader. The new framework that will enable leaders to finally integrate both strategy and innovation into a strategic
approach that drives their profitable growth is the Three Disciplines of “Advanced” Strategic Thinking:
1. Coalesce: Fusing together insights to create an innovative business model.
2. Compete: Creating a system of strategy to achieve competitive advantage.
3. Champion: Leading others to think and act strategically to execute strategy.
Every leader desperately wants to be strategic – their career depends on it. “Elevate” provides the roadmap to reach the strategic leadership summit.

“Escape Velocity” offers a pragmatic plan to engage the most critical challenge that established enterprises face in the twenty-first-century economy: how to move beyond past success and drive next-generation growth from new lines of business.
As he worked with senior management teams, Moore repeatedly found that executives were trapped by short-term performance-based compensation schemes. The result was critical decision-makers overweighting their legacy commitments, an embarrassingly low success rate in new-product launches, and a widespread failure to sustain any kind of next-generation business at scale.
In “Escape Velocity”, Moore presents a cogent strategy for generating future growth within an established enterprise. Organized around a hierarchy of powers: category power, company power, market power, offer power, and execution power, this insightful work shows how each level of power can be orchestrated to achieve overall success.

In this work, noted consultant Erika Andersen helps the reader approach business and life strategically, explaining why it is important, what’s involved in doing it, and how to do it. 

For a full listing of best books in 2014, please visit http://800ceoread.com/

 

Click here and automatically receive our latest blog posts.

 

Jim Stewart is the founding Partner at ProfitPATH. He has been working with business owners for over 16 years to increase profits and improve the value of their companies. LinkedIn

Recommended Reading – Summer 2014

Tuesday, June 10th, 2014

After what seemed like a very long winter, it’s finally happened! Temps are rising, days are longer, Nature is dressed in her finest greenery, and we’re all eager to pack up and speed off to our favourite summer retreat. Don’t forget to pack a couple of good books for your reading pleasure! Here are some of the personal favourites we’ve selected from various “best books in 2014” lists published recently on 800ceo read’s blog:

Most businesses of today are more focused on the newest gimmicks and tricks of the trade that they believe can save the day. This book focuses on the view that success is a result of quality, consistency of performance and relentless improvement on those things that matter most and not about the ‘wow’ factor provided by flashy tricks.

High performance has always required shrewd strategy and superb execution. These factors remain critical, especially given today’s unprecedented business climate. But Rich Karlgaard—Forbes publisher, entrepreneur, investor, and board director—takes a surprising turn and argues that there is now a third element that’s required for competitive advantage. It fosters innovation, it accelerates strategy and execution, and it cannot be copied or bought. It is found in a perhaps surprising place—your company’s values. Karlgaard examined a variety of enduring companies and found that they have one thing in common; all have leveraged their deepest values alongside strategy and execution, allowing them to fuel growth as well as weather hard times. Karlgaard shares these stories and identifies the five key variables that make up every organization’s “soft edge”.

Amidst the desolate landscape of fallen great companies, Jim Collins began to wonder: How do the mighty fall? Can decline be detected early and avoided? How far can a company fall before the path toward doom becomes inevitable and unshakable? How can companies reverse course? In How the Mighty Fall, Collins confronts these questions, offering leaders the well-founded hope that they can learn how to stave off decline and, if they find themselves falling, reverse their course. Collins’ research project—more than four years in duration—uncovered five step-wise stages of decline: By understanding these stages of decline, leaders can substantially reduce their chances of falling all the way to the bottom.

We live in a fundamentally changed world. It’s time for your approach to strategy to change, too.

According to Andrew Winston, bestselling author (“Green to Gold”) and globally recognized business strategist, the way companies currently operate will not allow them to keep up with the current–and future–rate of change. They need to make the “Big Pivot.”

In this indispensable new book, Winston provides ten crucial strategies for leaders and companies ready to move boldly forward and win in this new reality. With concrete advice and tactics, and new stories from companies like British Telecom, Diageo, Dow, Ford, Nike, Unilever, Walmart, and many others, “The Big Pivot” will help you, and all of us, create more resilient businesses and a more prosperous world. This book is the blueprint to get you started.

To stay ahead of the pack, you must translate your organization’s competitive strategy into the day-to-day actions carried out in your company. That means channeling resources into the right efforts, achieving the right balance between innovation and control, and getting everyone pulling in the same direction.

Simons presents the seven key questions a manager and his team must continually ask. Drawing on decades of research into performance management systems and organization design, “Seven Strategy Questions” is a no-nonsense, must-read resource for all leaders in any organization.

Why do businesses consistently fail to execute their competitive strategies? Because leaders don’t identify and invest in the full range of projects and programs required to align the organization with its strategy. Moreover, even when strategy makers do break their plans down into doable chunks, they seldom work with project leaders to prioritize strategic investments and assure that needed resources are applied in priority order. And they often neglect to revise the strategic portfolio to fit the demands of a dynamic environment, or to stay connected to strategic projects through completion, as new products, services, skills and capabilities are transferred into operations.

In “Executing Your Strategy,” Mark Morgan, Raymond Levitt, and William Malek present six imperatives that enable you to do the right strategic projects–and do those projects right. And it is no accident that the six imperatives combine to create the acronym INVEST: Ideation: Clarify and communicate purpose, identity and long range intention; Nature: Develop alignment between strategy, structure and culture based on ideation; Vision: Create clear goals and metrics aligned to strategy and guided by ideation; Engagement: Do the right projects based on the strategy through portfolio management; Synthesis: Do projects and programs right, in alignment with portfolio; and Transition: Move the project and program outputs into operations where benefit is realized.

Full of intriguing company examples and practical advice, this crucial resource shows you how to make strategy happen in your organization.

Martin O’Neill presents a road map for leaders of mid-sized companies to: assess their current situation, paint a compelling picture of the future, build alignment among the leadership regarding that future, and develop specific transformational initiatives that will build real value.

Turn Strategy into Performance!

In today’s world of rapid, disruptive change, strategy can’t be separate from execution–it has to emerge from execution. You have to continually adjust your strategy to fit new realities. But if your organization isn’t set up to be fast on its feet, you could easily go the way of Blockbuster or Borders.

Laura Stack shows you how to quickly drive strategic initiatives and get great results from your team. Her LEAD Formula outlines the Four Keys to Successful Execution: the ability to Leverage your talent and resources, design an Environment to support an agile culture, create Alignment between strategic priorities and operational activities, and Drive the organization forward quickly. She includes a leadership team assessment, group reading guides, and bonus self-development resources. Stack will equip you with the knowledge, skills, and inspiration to help you hit the ground running!

For a full listing of best books in 2014, please visit http://blog.800ceoread.com/

 

Click here and automatically receive our latest blog posts.

 

Jim Stewart is the founding Partner at ProfitPATH. He has been working with business owners for over 16 years to increase profits and improve the value of their companies. LinkedIn

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