January 8, 2013
LEI wishes everyone a Happy New Year. We hope for the utmost in success for you and your organization. One of LEI’s goals in 2013 is to be an asset to you as you strive to be a better leader who has the ethical courage to do the right things for the right reasons.
To start off with, we should all do a self-assement of ourselves and our organizations. What needs improvement? What can we do better? Am I the leader I should be? Am I willing to make those tough decisions even when it may not be the popular thing to do? We can’t fix things if we don’t even recognize we have a problem.
Take a look at Mr. Mackay’s post. He gives us some good examples of others who admitted their problems and fixed them or what happened to others who chose not to. Mr. Mackay’s insights reminds me how it important it is for us to “check our egos at the door” as we analyze an issue. We all need to be willing to admit we could be a part of the problem. Can you do this?
You Can’t Solve a Problem Unless You First Admit You Have One
Posted: 26 Dec 2012 05:03 AM PST
Alcoholics Anonymous has used that principle as a starting point to reclaim thousands and thousands of lives. Thousands more are never reclaimed because it’s so hard to change.
Sheer stubbornness has destroyed a lot more bottom lines than new technologies. There were just as many mean spirited jibes at Coca-Cola for abandoning its original formula as there were at Ford when it unveiled the Edsel. The difference was that Ford decided it was going to prove the marketplace was wrong and stuck with its mistake far too long. Coca-Cola realized early that while humiliation was inescapable, horrendous losses need not be. It cut its losses, and its mistake cost it a lot less money than stubborn pride cost Ford.
Campbell’s spent years developing a new offering in what’s called the “functional food” category. Named Joshi describes it as “a frozen food line that would help older Americans” needing to modify their diets. It had “great endorsements from the medical fraternity; many trials… and yet it bombed due to poor taste.” Campbell’s acted quickly and regrouped.
Product withdrawals these days don’t have to be just timely. Sometimes they are real time. Bill Gates was demonstrating the introduction of an improved Windows 98 program in front of a slew of journalists and live TV cameras. As the demonstrator touted the program’s virtues, Windows crashed in front of God… and Gates! On the monitor appeared the infamous “blue screen of death” and its white-typed error message. The ever quick-witted Bill intervened in a nanosecond with: “That must be why we’re not shipping Windows 98 yet.”
One thing professional stock and commodity traders learn early is that they don’t give away medals for courage in the marketplace. There is only one reward the marketplace has to offer: money.
If you’re not making any, bail out. Quickly.
Excerpted from Swim With The Sharks Without Being Eaten Alive
The post You Can’t Solve a Problem Unless You First Admit You Have One appeared first on Harvey Mackay.