July 4th, 2008
Just wanted to share some thoughts with you on the fourth- our country’s birthday. I’m extremely thankful for the country I live in. For those of you who aren’t, please take a trip to another country and understand what you have here. The key for me is complete freedom. As you have read here, freedom - economic, political and personal - is essential to keep this juggernaut going. Our ability to rise out of difficulties is based on it. Anything that erodes that freedom is the enemy of the United States. Keep that in mind as you celebrate, thank those who keep you free, and develop a deep appreciation for the country you live in.
I’d like to hear from those who believe as I do- OR those who don’t! Put your thoughts in a few words, from your heart.
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By Bob Turek -- 0 comments
July 3rd, 2008
The McKinsey Quarterly is good for saying the obvious:
Why do many companies competing in supposedly high-growth sectors fare so poorly? Bad execution is one obvious possibility, but McKinsey research into the recent growth histories of more than 200 large corporations around the world shows that while the ability to execute is essential, it isn’t the key differentiator between companies that are growing quickly and slowly. The most critical thing is to compete not only in a fast-growing sector but also—at a more granular level—in a fast-growing part of that sector. Gaining new revenues through M&A is important as well. Market share, the third main growth driver, is less significant. Executives should assess a company’s performance on all three, for all are actionable, and the more of them companies excel in, the greater the rewards.
In other words, DO THE RIGHT PROJECT! I think it would be more accurate to say that companies have a problem because they are working on the wrong projects- all this consulting talk (”granular level”, etc.) just confuses the issue. The one about “market share” being less significant than picking the right fast-growing sector and the right acquisition is also painfully obvious.
What do you think? Are McKinsey research projects that unearth these types of “revelations” worth the time to read them?
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By Bob Turek -- 2 comments
July 2nd, 2008
For months the Innovations Are Under Your Nose post is the most viewed post on my blog. Funny that it only has two comments. Maybe you can help me out by telling me why it’s number one. Is it the picture of the nose? the revelation that most innovations are copied? or could it be that this is just a fluke of blogdom?
What say you?
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By Bob Turek -- 0 comments
July 1st, 2008
Myths, messes, execution, backsides, preparation, falsehoods, epiphanies, and freedom. How can you resist?
Your 2 cents wanted. Click and comment.
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By Bob Turek -- 2 comments
June 30th, 2008
This eclectic set of posts from the first half of June are ripe for discussion. Check ‘em out and let me know what you think:
Carbon emissions tracking,
Risk management by banks,
How reducing projects increases innovation,
A global warming airline,
Pride and prejudice in the consulting ranks,
Suing your ERP vendor,
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By Bob Turek -- 0 comments
June 29th, 2008
California is in trouble again. Running itself like a charity it spends based on public whim that drives vote buying legislators. My congresswoman, Sharon Runner, comments in her Runner Report about the most recent budget approach (click here for a subscription):
Our plan establishes a strict spending limit and creates a rainy day fund that will protect California’s taxpayers. We must put an end to government’s wasteful spending practices and not treat taxpayers as the Legislature’s own personal ATM machine.
Under this plan, the Legislature will be forced to prioritize to stay within the spending limit….Democrats have stated that we do not have a spending problem, but rather we have a revenue problem. That is simply not true.
I hate to say it but this isn’t the answer. Spending caps miss the point of deciding what the role of the government is and what strategies and projects they should spend money on. It’s the “easy” way out and simply doesn’t deal with the problem.
The argument shouldn’t be about whether it’s a revenue or spending problem but rather why we aren’t considering value and profit and project acceleration. I’m not advocating that the State operate like a business–it can’t. I am advocating that the State, like many counties have, establish a project management office (PMO) with a governance board responsible for selecting, eliminating, and prioritizing projects AND aligning them with State strategies. We are certainly in sad shape when the solution is simply to cap spending to force prioritization.
What do you think? Is it possible for a State governmental body to be an innovative user of a PMO? Why or why not?
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By Bob Turek -- 0 comments
June 28th, 2008
Imprimis is an excellent leaflet/newsletter that I get every month with amazing analyses of the issues of our times. If you want to think for yourself you should get a subscription. Their often historical approach brings you up to date on why we are where we are. The latest issue is no exception as it deals with the “the greatest story never told” about the economic success of the last 25 years and how to continue it:
“This long period of sustained economic growth and the huge quality-of-life improvements it made possible didn’t happen by accident. They were a result of a major expansion in economic freedom, initially in the U.S., then increasingly around the world. This expansion took many forms, but three of the most important were a dramatic reduction in marginal tax rates, a series of major deregulations, and a broad expansion of trade.”
The recent tax cuts are interesting in that after the cuts the remaining tax burden shifted to higher income earners leaving many off of the tax rolls completely. Imprimis thinks this may have had the unintended consequence of increasing expectations of having someone else pay for government services. You’ve heard the statistics before: 39% of all income taxes are paid by the top 1% of earners, while fully 50% of earners only pay 3% of the taxes. The result: public support for actions expanding economic freedom continue to decrease.
Do you pay taxes? What do you think about it? Do you agree with the “three most important” expanders of economic freedom? Talk about it- blog about it. THIS is important.
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By Bob Turek -- 0 comments
June 27th, 2008
Our b5media business channel does “fun friday” topics to attempt to get us all on the same page, trade comments, and, hopefully, enlighten each other…and YOU. This time out we are commenting on our business epiphany: the one moment that influenced our career or business more than any other. Our business channel editor, Kelly of www.taxgirl.com fame, felt this one was a “toughy” but I am blessed with many. Here’s one:
I was admittedly mishired into a sales team environment to help sell large software packages. My only experience was that I had done some project management of part of an implementation. I had very little of what they needed: interview/assessment skills, ability to organize information from many different people, and then present it while demonstrating a very complicated sofware solution.
I was definitely going through on the job training when the sales person on my team point blank said “I would have never hired you.” I went home that night feeling like a failure and wondering where I was to go from here. And here’s the epiphany part: I decided that I would go in and admit my faults and ask that person to work with me to improve and be a successful team.
He became my mentor in the business. My reaction, and his positive response, is why I am where I am today: enjoying an exciting job working for an innovative company. You CAN make lemons out of lemonade!
What about you? Do you have any great stories to tell? Is there a time where you wished you would have responded differently to a “I wouldn’t have hire you” situation?
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By Bob Turek -- 0 comments
June 26th, 2008
SPI, the Society of the Plastics Industry, announced it’s upcoming attempt to overcome misinformation about it’s industry in Plastics News (paid subscription required).
I have some personal experience here- the plastics industry has done a very poor job of marketing itself and overcoming the bad science aimed at it. A perfect example are the plastic bag bans in California that claimed that paper trumped plastic when it comes to the environment. Thereafter published science about paper bags being worse polluters AND energy users than plastic came out; California legislators responded by submitting bills to tax both- see my post on this.
I applaud SPI’s move to launch an internet-based campaign using their web site for fact sheets, talking points and youtube videos, plus funding of third party research on energy efficiency and carbon footprints of common household plastic products vs competing materials. Interesting that the article attempts to show two sides but quotes unknown sources for the negative- very typical of media types.
The fact is that much of the negative plastic press is driven by activists with power and attention to gain. Unfortunately, most of the public doesn’t think for themselves and swallow this garbage.
What do you think? What is your view of plastics products and how we as a society have migrated to them? Should we accept that plastics are here and in our future and figure out how to better dispose and recycle them? What can you do to get the truth out?
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By Bob Turek -- 0 comments
June 25th, 2008
A CFO magazine article encourages cost cutters to “just ask for it” when pursuing discounts. They go on to give some great advice:
“This usually involves an exchange: customers agree to buy a broader range of products and services from the vendor, or commit to a minimum purchase amount, and in turn get a better price.”
Good advice IF the rationale for the purchase, in this case large software systems, makes sense. It is always best to realize the difference between a contract and an implementation. Interestingly enough, those wanting a discount lose touch with their ability to implement what they buy and therefore the latent costs involved.
How do you buy technology? Do you partner with the vendor in a way that both you and the vendor benefit? If you don’t you will inevitably get less attention when you need it the most.
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