Photo by Gaetan Lee
A few days ago I finished reading “Billion Dollar Lessons“. It is a fascinating book that is a must for anyone working in an organization that deals with some form of strategic thinking (which is almost every organization I know). I think the book has enough promotion so I will not attempt to promote it (but still – read this free manifesto if you want some idea of what it is about). I just wanted to share two thoughts:
1. I think this book and others (like the amazing “YES!“) are starting a very interesting trend of books that use behavioural economics to better understand and more importantly, improve, business. I wrote about this kind of thinking after reading Nobel Prize winner Daniel Kahneman‘s book (with co-authors) called “Rationality, Fairness, Happiness”. I think managers who will adapt fast to this trend and will start to gain more knowledge of how people (in contrast or in addition to business) really work, will be the leaders of the next generation.
2. I think the book wonderfully illustrates the importance of the one of the concepts I write about in my E-book, “Playing It to Excellence and Happiness in Real Life – Five Concepts I Learned by Playing Basketball, Working and just Living” – “Focus on the process”. In short, the thesis of the book is that awareness in not enough to prevent strategic mistakes. People make them, many times when they were fully aware of the consequences or when all the relevant information was present or did not reach the right people. This is why it is important to create processes that help us in preventing such mistakes. In the book they talk about appointing a devil’s advocate (among other things). Seth Godin calls it “Stats Fiend“. I think you can say something more general. There is a need for great processes that enhance true communication, positive conflict and the flow of information inside organizations. Two man are always smarter than one man, but many times, organizations are run by one man (when I say “one man” I mean it as a generalization of a type of leadership – not actually one man makes all the decisions alone). If you can create great processes you can add more value.