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Leading by Cause

Lead Change Blog

A recent conversation with a community bank CEO focused on his vision for the company. Appearance of Improvement vs. Improvement – In the effects domain, managers often look for steps to improve the appearance of their P&L results, yet no real, underlying change takes place.

P&L 220
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Well-Connected Leaders: Who Cares?

LDRLB

A recent study of 42 managers and their 184 employees in the banking industry entitled “Well-Connected Leaders: The Impact of Leader’s Social Network Ties on LMX and Members’ Work Attitudes” recently published in the Journal of Applied Psychology sought to answer these questions. Simmons, Ph.D.

P&L 68
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Race Issues

Harvard Business Review

Phillips, Tracy L. Dumas, and Nancy P. ” HBR: How Managers Can Promote Healthy Discussions About Race by Kira Hudson Banks — “Many white people may avoid conversations about race out of fear of ‘saying the wrong thing.’

P&L 8
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The Rebirth of the CMO

Harvard Business Review

To stitch it all together meaningfully, CMOs are increasingly expected to act as general managers with P&L or shared/shadow P&L responsibility that drive revenue growth. Says Abi Comber, Head of Marketing for British Airways: “Having P&L responsibility is incredibly powerful.

P&L 10
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How Big Data Brings Marketing and Finance Together

Harvard Business Review

For example, in the credit card business, understanding the importance of deals with issuing banks is critical. While marketing might focus on maximizing card transactions, or swipes, finance understands that not all swipes are equal (depending on the deal with a given bank).

Finance 13
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Is Your Company Actually Set Up to Support Your Strategy?

Harvard Business Review

How do banks switch customer relationships from branch offices to mobile phone screens? Who has P&L authority? Consider traditional banks, which Gartner estimates spend an average of about 66% of their IT budgets to maintain legacy IT systems vs. just 22% to grow the business and 12% to transform it.

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Warren Buffett's 2010 Shareholder Letter: What to Expect

Harvard Business Review

Establish "an unbending standard of performance" : Since 1965, Buffett has annually compared Berkshire's compounded growth in book value per share to the growth in the S&P 500 (plus dividends). In all but seven of these 45 years, Berkshire beat the S&P. Berkshire's talented managers get the P&L independence to run their own businesses.

Letter 15