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Jul30
The Common Sense Management of Sam Walton - 118

Running lean can make you mean.


Whether we have a lot of cash on hand or not, we need to be a company or department that runs lean. Besides the obvious benefit of being responsible with spending, there's a far greater benefit related to ideas and innovation.

If there's one thing that having a lot of money can do to a company, it is to tempt people to be too laid back and satisfied. Any of us that remember when we had to struggle for every cent in a business, know how we would struggle and push to drive ideas in our people and ourselves to make the business a success.

Being lean is far more than being responsible with handling money, it's a way of thinking, the culture of a business and how you lead.

As Steve Jobs said once: "Innovation has nothing to do with how many R&D dollars you have. When Apple came up with the Mac, IBM was spending at least 100 times more on R&D. It's not about money. It's about the people you have, how you're led, and how much you get it."

Sam%20Walton%20%20and%20running%20a%20business%20lean.jpg

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Jul29
Rupert Murdoch Says He's About Ready to Walk Away from Dow Jones Deal
Continuing Coverage of the Dow Jones Story Saying he's about ready to walk away from the Dow Jones & Co. (DJ) bid, Rupert Murdoch says he expects to receive word Monday on the decision.Of course it's a more than reasonable demand,... Continue Reading
The Wisdom Of Peter Drucker -13
"Knowledge has to be organized as a team in which the task decides who is in charge, when, and for how long. Organization structures for knowledge work must therefore be both rigid and flexible; both have clear authority and yet... Continue Reading
Congress, as Usual, Misguided on China
The obsession by Congress with the growing trade surplus and China's rate of currency appreciation shows their lack of understanding about what's really going on.The reason they keep attacking these two elements are because the overall American public understands the... Continue Reading
Jul28
Herb Kelleher: The Method Behind His Madness - 105
"Find humor in tense moments."There's probably nothing more powerful in defusing tense situations, whether with customers, suppliers or workers, than humor.Keeping in mind that we definitely need to let people know we're attentively listening to them, humor is still a... Continue Reading
Warren Buffett and Secrets of Management - 151
Learned crowd control from Disneyland, keep people in line entertained. When a group of visitors came to Omaha, they were taken to the Nebraska Furniture Mart to look over the operation and ask questions of the managment.They asked to be... Continue Reading
Steve Jobs: The Captain of Cool - 5
"I'm convinced that about half of what separates the successful entrepreneurs from the non-successful ones is pure perseverance."To me, the only way a person can lose is by giving up. Jobs says that about successful entrepreneurs as well. There are... Continue Reading
Mary Kay Ash: She Never Wavered - 63
We Need Leaders Who ... 3. ... who inspire and motivate rather than intimidate and manipulate.The seemingly endless battle over the best way to get results from our people continues on, and will probably continue on indefinitely. Even so, though some... Continue Reading
The Common Sense Management of Sam Walton - 117
"But it did so well that one of its executives said in the latter part of the '70s that the only way they were vulnerable was if they changed from what they were doing."Do you have any idea who Walton... Continue Reading
Jul27
News Corp. Believes it has Votes to Seal Dow Jones Bid
Continuing Coverage of the Dow Jones StoryThe vote by the Bancrofts could be completed by Monday.According to a source close to the deal, News Corp. (NWS-A) believes it has the votes to seal the Dow Jones deal when the vote... Continue Reading
The Wisdom Of Peter Drucker -12
"What the knowledge worker needs to be positively motivated is achievement ... a challenge. They also require that the demands be made on them by knowledge rather than by bosses, i.e. by objectives rather than by people. They require performance-oriented... Continue Reading
CNBC Vixens Battling it out to see who's Queen Bee
The buzz on the battle between Maria Bartiromo and Erin Burnett is fun and gossipy to read about, but it does underscore a problem with business TV, which is the creation of business celebrities.When Bartiromo was caught up in the... Continue Reading
Bancrofts in Denver Trust Want More Money: Ready to Vote Against Murdoch if Price not Raised
Continuing Coverage of Dow Jones Story As recently as earlier this week, the law firm Holme Roberts & Owen were viewed as pretty much a lock on voting for the bid of Rupert Murdoch and News Corp. (NWS-A) for Dow Jones (DJ).... Continue Reading
Jul26
Herb Kelleher: The Method Behind His Madness - 104
"Make the vision the boss - constantly ask 'does this fit the vision?'"This is one of those tools that is powerful beyond the simplicity it represents. No matter how some managers may want to give input into everything and micromanage,... Continue Reading
Internet Entrepreneur Gives His Insights into Hiring Great People - 4
The beginning part of this last video in the series talks about how Pagan manages a virtual office, with his people all over the country. The second part translates management to a brick and mortar environment.In the first part, he... Continue Reading
Internet Entrepreneur Gives His Insights into Hiring Great People - 3
When talking about thinking of hiring in a different way, this doesn't mean we drop general requirements, qualifications and legal aspects of hiring, that must be part of the process. Assuming those are part of the process and individuals we're... Continue Reading
Internet Entrepreneur Gives His Insights into Hiring Great People - 2
Part two of the video series on hiring talks about hiring in relationship to growth and opportunities. It talks about how many companies wait too long to address a need, and the result is scrambling and pressure to fill that... Continue Reading
Internet Entrepreneur Gives His Insights into Hiring Great People - 1
I found some videos by Eben Pagan that give some great insights into hiring and building great teams. Of course hiring right in the first place is the most important step in building a great work force.In the first video,... Continue Reading
Jul25
Warren Buffett and Secrets of Management - 150
"If you had to pick one person to 'short' for the next 30 years, who would it be? You should determine that the person you want to buy is yourself. You all are holding winning tickets."This question was asked of... Continue Reading
US Housing Market May Not Recover Until 2009
The downturn in home sales in June was the lowest level they've reached in the last four and a half years. According to the National Association of Realtors, home sales dropped by 3.8 percent to an annualized rate of 5.57... Continue Reading
Jul24
Steve Jobs: The Captain of Cool - 4
"It wasn't that Microsoft was so brilliant or clever in copying the Mac, it's that the Mac was a sitting duck for 10 years. That's Apple's problem: Their differentiation evaporated."If a competitor can successfully convince consumers that there is no... Continue Reading
Mary Kay Ash: She Never Wavered - 62
We Need Leaders Who ... 2. ... work for the benefit of others and not just for their own personal gain.  The idea of moving up in a good company while focusing on our own personal gain is next to impossible.... Continue Reading
You Never Know Where Your Next Idea may Come From
There was an excellent article in the New York Times today called, "C.E.O. Libraries Reveal Keys to Success." It was especially fun because I could definitely relate to it.I don't know how big my personal library is at this time,... Continue Reading
Lawsuit Waiting in the Wings if Bancrofts Reject Murdoch Offer
While the Bancroft family was meeting together yesterday, a New York judge was combining two lawsuits filed by shareholders against Dow Jones & Co. (DJ) in May, which would force the company to sell to Murdoch if the bid is... Continue Reading
Who Does Minimum Wage Really Help?
The minimum wage issue always comes around and is used by some politicians as a political football. When it comes down to it, it really doesn't do any good. The only ones it hurts in the end is small businesses,... Continue Reading
Jul23
The Common Sense Management of Sam Walton - 116
"Everyone should be an entrepreneur."When an employee is treated like an owner in the company, it brings a tremendous benefit to everyone concerned, far beyond what can be talked about in a small blog post.One of the practical things that... Continue Reading
Wal-Mart Finally Getting Back to Discounting and Price Cutting
It looks like Wal-Mart has finally learned its lesson on trying to be trendy, and is going back to what it does best: offer low prices.On Monday Wal-Mart (WMT) announced it is going to slash prices on 16,000 items beginning... Continue Reading
The Jack Welch Management Mystique - 69
Welch's 21 Steps to Management Greatness - 15b "Harness Your People for Competitive Advantage"When we hire people that line up with our purpose and values, we acquire a great benefit for the company. It makes things like communication, speed and... Continue Reading
Jul22
Herb Kelleher: The Method Behind His Madness - 103
"People who share a common direction get to where they are going more quickly by using each others thrust."There are a number of ways to take the statement be Kelleher above and apply it to our businesses. It could be... Continue Reading
The Wisdom Of Peter Drucker -11
"A knowledge foundation enables people to unlearn and relearn. It enables them to put knowledge, skills and tools to work, rather than to one specific task in one specific way."Knowledge is like an underground stream that will bubble up to... Continue Reading
Jul21
Warren Buffett and Secrets of Management - 149
"Ask questions constantly and never assume that we have achieved 'expert' status in anything."Anybody that's read anything about Warren Buffett and Berkshire Hathaway (BRK-A) knows one of the primary things he considers as vital to the business is making sure... Continue Reading
What do Fashion and Wal-Mart Have in Common?
Answer: NothingAt times it's good to see some of the biggest companies in the world make mistakes to remind us what not to do. That's what's happened with Wal-Mart (WMT) and their failed attempt at becoming "trendy." This was underscored... Continue Reading
Has Harry Potter Helped the Book Industry?
The retail book industry has long decided to use the Harry Potter series as a loss leader, rather than a profit generator. The idea is of course to get people to come in droves to the stores and buy higher-margin... Continue Reading
CNBC Launching New Business Game Show "Fast Money MBA Challenge"
In a first for CNBC (GE), they are about to launch a game show where students from eight business schools around the US are brought together to compete on a game show.The show dubbed "Fast Money MBA Challenge," will premiere... Continue Reading
Will Shareholders Abandon Scholastic After Final Harry Potter?
While Scholastic Corp. CEO Richard Robinson is in no danger of losing his job, there has been a lot of dissatisfaction with shareholders over what they perceive as mismanagement of the huge windfall the Harry Potter franchise has brought the... Continue Reading
Jul20
Steve Jobs: The Captain of Cool - 3
"It's really hard to design products by focus groups. A lot of times, people don't know what they want until you show it to them."You wouldn't think these types of words would come out of Steve Jobs, but they did.... Continue Reading
Mary Kay Ash: She Never Wavered - 61
We Need Leaders Who ... 1. Add value to the people and the organization they lead.Mary Kay talked about what businesses needed in their leaders. She listed a number of things that she considered imperative to leadership in today's business... Continue Reading
The Common Sense Management of Sam Walton - 115
Walton saw ideas as common property like air. It was what you did with them that made you different. He competed by improving whatever he admired.I like the thought that Sam Walton saw ideas as common property. While there are... Continue Reading
Brad Greenspan Makes Yet Another Proposal to Dow Jones
Continuing Coverage of the Dow Jones Story  Brad Greenspan thinks he sees what he believes is an opportunity to thwart Rupert Murdoch and News Corp. (NWS-A) from acquiring Dow Jones & Co. (DJ). In an open letter to the company,... Continue Reading
Jul19
Al Neuharth, USA Today founder: The Wall Street Journal Sale - A "Farce Starring WSJ Reporters, Columnists, Editors and Executives"
Al Neuharth, the founder of the USA Today had a great opinion piece talking how from his viewpoint the bid by Rupert Murdoch for Dow Jones & Co. has become a joke. If you've been following my postings about the... Continue Reading
The Jack Welch Management Mystique - 68
Welch's 21 Steps to Management Greatness - 15 Create a Learning CultureThe idea of creating a business culture that has a free flow of information is a very desirable goal to reach for, and something we talk about quite a... Continue Reading
Could Release of Harry Potter Book Been Managed Better?
Officially the final installment of the Harry Potter book series "Harry Potter and the Deathly Hallows," hasn't been released, yet some companies under an agreement to wait for the opening on July 21 to release to the book, have broken... Continue Reading
Bancrofts Meeting Monday to Discuss Selling Dow Jones Co.
Continuing Coverage of the Dow Jones StoryIn what should be a very spirited meeting, the Bancroft family, majority share holders in the Dow Jones CO. (DJ) will get together on Monday to discusss whether they will sell the company to... Continue Reading
Jul18
Herb Kelleher: The Method Behind His Madness - 102
"Being profitable means job security."We've been talking quite a bit lately about the forces from outside a company that attempt to get it off its moorings and purpose. Many of them sound good and are probably well-intentioned, nevertheless, it can... Continue Reading
The Wisdom Of Peter Drucker - 10
What is done, and how is largely determined by what outsiders want and need. It is largely determined by "discipline" ... of the marketplace.When Drucker said "discipline" ... of the marketplace above, he meant that the marketplace disciplines us to... Continue Reading
US Economy to Grow Moderately Over Second Half
According to Federal Reserve Chairman Ben Bernanke, the US economy will start picking up in the second half of the year and will experience moderate growth. As he's been saying for a long time, the major concern is inflation. The... Continue Reading
Warren Buffett and Secrets of Management - 148
"Be Honest With Yourself"A great temptation of any business owner or manager is to hear only what they want to hear and disregard the rest. This alone can be one of the greatest enemies to business success.There's nothing worse and... Continue Reading
Jul16
Dow Jones Negotiations Winding Down: Tentative Agreement to be Presented to Bancroft Family
Continuing Coverage of the Dow Jones StoryThe final pieces of the negotiations for Dow Jones & Co. (DJ) and News Corp. (NWS-A) are in place, as a tentative agreement has been reached by the two sides, according to the Wall... Continue Reading
Google Offers Small Businesses Internal Site Search
Google (GOOG) announced Monday it's offering small businesses the chance to allow visitors to search for information within their Web sites.The new service, called Google Custom Search Business Edition, starts off at $100 yearly, and doesn't require businesses to include Google... Continue Reading
Steve Jobs: The Captain of Cool - 2
"I've always wanted to own and control the primary technology in everything we do."For a long time, most people writing about Steve Jobs have taken the comments like the one he made above, along with the actions that cost him... Continue Reading
Mary Kay Ash: She Never Wavered - 60
Mary Kay Ash wanted to be the next sales queen.Before Mary Kay had an idea of creating a business, she worked for another direct sales company. At a convention where there was an annual crowning of a 'sales queen,' Ash... Continue Reading
The Common Sense Management of Sam Walton - 114
He shared total financial information with everyone in every store, in every community. Sam felt we were all partners, and he wanted to share everything.The thought of being in the "inner circle" of any organization is very tempting and desirable... Continue Reading
Jul15
Final Stages of Dow Jones Negotiations May Start this Week - Companies to Meet
Continuing Coverage of the Dow Jones Story In what should become the defining moment in the outcome of the bid for Dow Jones (DJ) by News Corp. (NWS-A) and Rupert Murdoch, News Corp. will meet with board members of Dow Jones... Continue Reading
Here we go again: Another Bancroft Panics Over Dow Jones Being Bought by Rupert Murdoch
Continuing Coverage of the Dow Jones Story In what's getting to be almost a circus, another Bancroft member, Christopher Bancroft, has reportedly ran to General Electric (GE), hedge funds and private equity firms in an effort to keep Rupert Murdoch and... Continue Reading
The Jack Welch Management Mystique - 67
Welch's 21 Steps to Management Greatness - 14   Cultivate LeadersTime is the most valuable resource we have available to us. With that in mind, let's look at some of things Welch looked for in his people before he'd be willing... Continue Reading
Herb Kelleher: The Method Behind His Madness - 101
"We have to consider how things may fit into our environment."Here's a good example of how Herb Kelleher describes filtering through ideas we get from other sources. We've talked in the past at managersrealm about great leaders and companies always... Continue Reading
The Wisdom Of Peter Drucker - 9
"Organizations do not act 'socially responsible' when they concern themselves with 'social problems' outside of their own sphere of competence and action. They act 'socially responsible' when they satisfy society's need through concentration on their own specific job." Peter Drucker... Continue Reading
Andy Grove: Only the Paranoid Survive - 23
"The most powerful tool of all is the word no."It's interesting to come across this comment by Grove, because I had recently started posting  a new study about Steve Jobs and the ways he led and managed Apple (AAPL), with a very similar... Continue Reading
Jul14
Warren Buffett and Secrets of Management - 147
"It would be a mistake to look back and say that I should have turned right or left. If you hit a hole in one on every hole, you wouldn't play golf for very long. I believe that it pays... Continue Reading
Steve Jobs: The Captain of Cool - 1
"It comes from saying no to 1,000 things to make sure we don't get on the wrong track or try to do too much."This new series on Steve Jobs and how he started, ran and grew Apple (AAPL), will be... Continue Reading
Mary Kay Ash: She Never Wavered - 59
The company's expansion was directed by two persons. Mary Kay herself set the direction, created the culture and served as a highly visible cheerleader. Richard Rogers, her son, handled the management functions.I've owned and managed a number of businesses throughout... Continue Reading
Jul13
The Common Sense Management of Sam Walton - 113
"He had this desire to improve that I've not seen. I can count on one hand the people I've known who got up every morning and really tried to improve something--either in their business or in their lives." ~ David... Continue Reading
The Jack Welch Management Mystique - 66
Welch's 21 Steps to Management Greatness - 13     Put Values First"Don't focus too much on the numbers. Numbers aren't the vision; numbers are the products. Focus more on the softer values of building a team, sharing ideas, exciting others."Sometimes the... Continue Reading
How British Millionaires with Humble Origins Started Out
A recent list of self-made millionaires from Britain caused a bit of conversation as the result was only 2 of the top 25 had a college or university degree.Those making the list were from diverse vocations, as they included hairdressers,... Continue Reading
Rupert Murdoch Sends Message will Start Business Channel with or without Dow Jones
Rupert Murdoch has made the commitment to topple CNBC as the leading business TV channel in the U.S. It's one of the reasons he made the bid for Dow Jones (DJ).With the announcement on Wednesday that the new business TV... Continue Reading
Jul12
Federal Deficit Drops Over 41% First Nine Months
The federal deficit has plunged during the first nine months of the fiscal year, which ends Oct.1, as revenues sharply increased over the growth of spending.According to the Treasury Department, the government had a surplus of $27.5 billion in June,... Continue Reading
Most Businesses Not Making Plans to Retain Senior Workers
Manpower (MAN) found out in a recent survey they conducted, that of 28,000 businesses around the world, only 21 percent have developed and put into action strategies to retain senior employees.I'm not sure if some industries think this is something still... Continue Reading
Herb Kelleher: The Method Behind His Madness - 100
"Where we see a competitor that appears to have the ability to operate effectively long term, we regularly take a look at what they do and any advantages they may have over us."There are several important points to look at... Continue Reading
Wal-Mart Same-Store Sales Rise 2.4% in June
Same-store sales at Wal-Mart (WMT), the strongest measure of retail health, grew by 2.4 percent to exceed analysts' expectations. Analysts projected only a 0.8 percent gain for the retail giant. Wal-Mart had projected the increase would be around 2 percent.Breaking... Continue Reading
Jul11
Andy Grove: Only the Paranoid Survive - 22
"I question him, jab him, and occasionally give him ideas. I have the luxury of not having to actually do any of the things I throw into the discussion. I couldn't be off-the-wall when I was CEO, and now I... Continue Reading
Warren Buffett and Secrets of Management - 146
You've Got to be ObjectiveA business leader got in a lot of trouble some years ago in the company he lead. Buffett was asked what he thought about what happended, and he had a lot of good things to say... Continue Reading
New Fox Business Channel to Launch October 15
Rupert Murdoch and News Corp. (NWS-A) announced Wednesday that their upcoming business news TV channel will launch on Oct. 15. The business channel will compete directly with CNBC (GE). This has been a work in progress as New Corp. wouldn't... Continue Reading
The Wisdom Of Peter Drucker - 8
Bring People as far as Possible into the Decision-Making ProcessPeter Drucker wisely said that it was impossible for workers to really understand a business if they aren't brought into the decision-making process.When thinking on that, it does make great sense... Continue Reading
Jul10
Mary Kay Ash: She Never Wavered - 58
"A company is only as good as the people it keeps."When thinking about Mary Kay's comment, it has a lot of undertones that need to be understood.There's a supposition included with her comment in that we have to know what... Continue Reading
Ron Burkle, Brad Greenspan Exploring Purchasing Dow Jones & Co. Together
An AP report says that Ron Burkle and Brad Greenspan are looking at the possibility of getting together to make a bid for Dow Jones & Co. to thwart the News Corp. bid for the company, said a source close... Continue Reading
The Common Sense Management of Sam Walton - 112
"The bigger Wal-Mart gets, the more essential it is that we think small." An important part of growing our businesses or departments is the discipline to think small, no matter how big we get.It is the continual focus on and... Continue Reading
Jul 9
The Jack Welch Management Mystique - 65
Welch's 21 Steps to Management Greatness - 12    Eliminate BoundariesAs business leaders, one of the things we can do to frustrate our workers is to ask them to do extraordinary things, and then have a bunch of things within the... Continue Reading
Herb Kelleher: The Method Behind His Madness - 99
"So maybe we didn’t want to be the leader in some areas, but maybe we wanted to be number two after someone else had worked the bugs out and developed a better and cheaper second generation version." In the way... Continue Reading
Consumer Credit Increases at Annual Rate of 6.4 Percent for May
The latest report by the Federal Reserve on Monday shows that consumer credit increased at an annual rate of 6.4 percent for the month of May, a huge increase over the 1.1 percent it grew in April.Most of the increase... Continue Reading
Andy Grove: Only the Paranoid Survive - 21
"We possibly would've had the trains run better, but it would have been at a long-term cost to Intel's future."Andy Grove made that statement when asked about whether things at Intel (INTC) would be better if he were still CEO.... Continue Reading
Rupert Murdoch Bid for Dow Jones Already Saving Them Jobs
If Rupert Murdoch had not made the bid for Dow Jones & Company (DJ), a number of Wall Street Journal workers may have already lost their jobs, according to a New York Times article. They cited a person close to... Continue Reading
Jul 8
Ron Burkle Finally being Brought into Dow Jones Soap Opera
Continuing Coverage of the Dow Jones StoryA long time after being named as a potential suitor of Dow Jones (DJ), Ron Burkle has been invited to meet with the board to see if there is any favorable options for the... Continue Reading
Warren Buffett and Secrets of Management - 145
Who would you want to work with the next 30 years?Buffett asked this question above to a group of people visiting him in Omaha at one time. After he asked it, he said, "the person you've gone long is probably... Continue Reading
Business Print Media Magazine Revenues Holding This Year
The business magazine market was able to stabilize this year according to the Business Information Network report.Even with a drop in ad pages by 2.82 percent, along with a drop in ad revenue of 1.11 percent in April, overall revenue... Continue Reading
Is Rupert Murdoch being Held to a Higher Standard than His Competitors?
An interesting op-ed piece by Norman Pearlstine in the Los Angeles Times talks about the failure of many newspapers and magazines to have a high standard of editorial independence. He even talks about the failure of the New York Times... Continue Reading
The Wisdom Of Peter Drucker - 7
"Wise management limits itself to the sphere of direct relevance to its central task."It seems to me that business is under assault today more than at any other time. Not only from those that hate free markets and entrepreneurship, but... Continue Reading
Mary Kay Ash: She Never Wavered - 57
Mary Kay believed that one could not be satisfied with past accomplishments but should seek to constantly improve.Two things come to mind with these ideas of Mary Kay; the first is satisfaction. Satisfaction with our past accomplishments can lead us... Continue Reading
Jul 7
The Common Sense Management of Sam Walton - 111
"Information is power, and the gain you get from empowering your associates more than offsets the risk of informing your competitor."This is one of the factors that people living in closed, versus open societies, find difficult to comprehend. I'm not... Continue Reading
The Jack Welch Management Mystique - 64
Welch's 21 Steps to Management Greatness - 11   Get Rid of Bureaucracy The one thing, possibly more than any other, that discourages and hampers workers is bureaucracy. Welch hated it with a vengeance and continually battled it throughout his career... Continue Reading
Herb Kelleher: The Method Behind His Madness - 98
How Southwest connected with new markets and maintained a strong link to them.Kelleher revealed that there were unique circumstances that entailed moving into new markets that needed to be handled right.The first thing he said that Southwest Airlines (LUV) did... Continue Reading
Business Environment: One of the Secrets to Becoming a Great Manager
Last post we talked about Warren Buffett's insight into how to become a great manager. The two critical things he said were identifying what your passion is, and second, finding the right environment.Finding the right environment isn't something talked about... Continue Reading
Warren Buffett and Secrets of Management - 144
How do you become a successful manager?When you hear a lot about what makes a successful manager, it inevitably leads to some type of list of skills and attributes  representing those that manage businesses great.While these can be secondary aspects, and... Continue Reading
Jul 6
The Wisdom Of Peter Drucker - 6
"The most difficult and most important decisions in respect to objectives are not what to do. They are, 1st, what to abandon as no longer worthwhile, and 2nd, what to give priority and concentrate on..." While I would like to... Continue Reading
Job Growth Exceeds Expectations in June
The U.S. economy had more good news as it added another 132,000 jobs in June, while paychecks grew by 0.3 percent to reach an average hourly wage of $17.38. For the last year, wages in the U.S. have surged by... Continue Reading
Dow Jones says Story about Completed Deal with Murdoch False
According to Dow Jones & Co (DJ), a report that they have concluded negotiations with Rupert Murdoch and the deal is completed are false.Evidently "The Business" was trying to get some attention by announcing they had an exclusive on the... Continue Reading
Everything Centers Around the Vision of the Company
When a company isn't built upon a strong, focused vision, everything else within the company will struggle. Profit can never be the purpose of a company, profit can only be a measuring stick to see if the company is performing... Continue Reading
Jul 5
Andy Grove: Only the Paranoid Survive - 20
How Andy Grove Handled Business UncertaintyGrove made a fascinating statement one time when he talked about times when Intel (INTC) was heading in directions that he didn't know where they'd end up.He said: "So you strike out in a new... Continue Reading
Mary Kay Ash: She Never Wavered - 56
For Mary Kay, the Golden Rule was a practical guide to conducting one's business affairs.The golden rule states that we should do to other people what we would want done to ourselves. For a lot of people in business, this... Continue Reading
Should Business Leaders Start Flying Under the Radar?
From the very beginning of the announcement that Katie Couric would anchor the CBS News (CBS-A), she never had a chance. The very thing that created the media circus - her enormous salary - was what never gave her a... Continue Reading
The Common Sense Management of Sam Walton - 110
Sam Walton was Largely Ignored by the Press Until he was a SuccessIt wasn't until Sam Walton took Wal-Mart (WMT) public and some people did a little digging to find out he was the richest man in the world at... Continue Reading
Jul 4
The Jack Welch Management Mystique - 63
Welch's 21 Steps to Management Greatness - 10    Follow upWhy is follow-up so important to a business leader? To Jack Welch it was one of the crucial elements of success for his reign at General Electric (GE).His thoughts were you... Continue Reading
Herb Kelleher: The Method Behind His Madness - 97
How do you make it all happen?Kelleher was asked one time on how the operational side of things worked in reality at Southwest Airlines (LUV). It was one thing to talk about the values and strategies Kelleher and Southwest believed... Continue Reading
Warren Buffett and Secrets of Management - 143
"Don't pay attention to beginning salaries. My first job with Benjamin Graham I accepted before I even knew what the salary was. Do what you're passionate about."Buffett's comments above were in response to a question asking him how you identify... Continue Reading
Andy Grove: Only the Paranoid Survive - 19
The Most Important Time when Conviction needs to be Instilled in our People.What happens when our people aren't quite able to see over the horizon, yet at the same time know there's no way they can go back to where... Continue Reading
Mary Kay Ash: She Never Wavered - 55
The one thing needed to get your people to buy into a project.This particular idea is so simple and easy that it can be neglected as to the power contained in it as far as buying into a project or... Continue Reading
The Perils of Instant Success
An article at Slow Leadership about the foibles, in most cases of "instant" big success, hit a chord with me because I've seen this as a problem in business leadership and management for a long time.I know that there will... Continue Reading
The Common Sense Management of Sam Walton - 109
Why we shouldn't take ourselves too serious.It's probably no secret that most business leaders and managers take themselves far too seriously. It's not that what's being done and accomplished isn't important, but it's the attitude while pursuing success that can... Continue Reading
Jul 3
The Jack Welch Management Mystique - 62
Welch's 21 Steps to Management Greatness - 9 "Get Good Ideas from Everywhere"I know I've said it before at managersrealm, but I am still amazed at how many times the great business leaders say the same thing in their own... Continue Reading
Wall Street Journal Editor Supports Dow Jones, News Corp. Agreement
Continuing Coverage of the Dow Jones StoryIn what I look at as a smart move, the editor of The Wall Street Journal (DJ), Marcus Brauchli, said concerning the guidelines of an agreement set to protect the editorial integrity of the... Continue Reading
And the World's Richest Man is ...
... no longer Bill Gates. The relatively unknown Mexican tycoon Carlos Slim (You gotta love that name) has surged into the lead as the richest man in the world; not only overtaking Bill Gates, but exploding past him by $8... Continue Reading
Herb Kelleher: The Method Behind His Madness - 96
"I don’t focus on any one point. I’ve always been a voracious reader and watch everything I can. I look at passenger and airplane statistics, customer complaints and suggestions, our response to customers and many other points."Kelleher was responding to... Continue Reading
Jul 2
Warren Buffett and Secrets of Management - 142
"Plenty of people have higher IQs and plenty of people work more hours, but I am rational about things. You have to be able to control yourself; you can't let your emotions get in the way of your mind."It's amazing... Continue Reading
Andy Grove: Only the Paranoid Survive - 18
"Profits are the lifeblood of enterprise. Don't let anyone tell you different."It's comments like these that great business leaders make that we need to remind ourselves of over and over again. In our business climate today, we hear everything about... Continue Reading
Mary Kay Ash: She Never Wavered - 54
"Praise them frequently and in public."While we all know that praise is important for all our people, we need to go beyond doing privately alone, and bringing it into the eye of the public.Having said that, I do think it's... Continue Reading
The Common Sense Management of Sam Walton - 108
"The more they know, the more they’ll understand. The more they understand, the more they’ll care. Once they care, there’s no stopping them."The confused mind will never buy or make a decision; the confusion guarantees that it will happen. Even... Continue Reading
Jul 1
The Jack Welch Management Mystique - 61
Welch's 21 Steps to Management Greatness - 8  See Change as an OpportunityMany people in business look upon change in fear or turmoil, rather than the great opportunity that it is for any business in any category.Welch said, "Willingness to... Continue Reading
Herb Kelleher: The Method Behind His Madness - 95
"When someone comes to me with a cost saving idea, I don’t immediately jump up and say yes. I ask:'what’s the effect on the customer?'"This is a great thought coming from Kelleher because he built Southwest Airlines (LUV) as a... Continue Reading
Warren Buffett and Secrets of Management - 141
Filtering wishful thinking from realityWe get an endless amount of teaching and motivational talks on positive thinking, and that has its place. But there's a huge difference between positive thinking and wishful thinking: it's called reality.Even with positive thinking, if... Continue Reading
Andy Grove: Only the Paranoid Survive - 17
We're living the Next Big Thing. Grove actually made these comments years ago, and it's still true to this day. As industries get impacted by the information age and technological changes, the "next big thing" happens all around us.We do... Continue Reading
Mary Kay Ash: She Never Wavered - 53
Make an effort to eliminate the factors that put stress on them [workers].The one thing that any work environment can produce employees is stress. A key job of anyone in business leadership is to be committed to ridding a company... Continue Reading

« June 2007 | Main | August 2007 »

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