Why Leaders Need to Think More Like Professional Gamblers

Leading Blog

Should they make a big bet, hedge their position, or just wait and see? Our instinct for determinism may well have been an evolutionary innovation. A probabilistic HR manager will examine the data about where a company’s best people come from and how they perform throughout their career to identify new sources of talent that may have been overlooked.

Even Senior Executives Need a Side Hustle

Harvard Business

But portfolio careers aren’t only for stay-at-home parents looking to freelance a few hours a day while their kids are in school or grad students moonlighting as Uber drivers and Task Rabbits. Here are five reasons it can make a dramatic difference for your career. Hedge against uncertainty. Lenny Achan, who started his career as a nurse, was ultimately promoted to head up communications at New York’s prestigious Mount Sinai Health System.

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Great Leaders Make Decisions | N2Growth Blog

N2Growth Blog

Walt Disney, one of the greatest creative talents and true innovators of our time realized the value of action when he said: “The way to get started is to quit talking and begin doing.&# It was Andy Grove the former Chairman and CEO of Intel and Time Magazine’s 1997 Man of the Year who said “You have to take action; you can’t hesitate or hedge your bets.

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Michael Fraccaro, CHRO at Mastercard, on the value of business resource groups

HR Digest

I was at a conference recently and one of the speakers remarked that “Culture hedges against the risk of uncertainty.” It can help them innovate. Michael Fraccaro: Understanding the trends that are driving change for our business and making sure we innovate our people practices to address those changes is essential to how we compete, succeed and set ourselves apart as a company.

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Why Consensus Kills Team Building | N2Growth Blog

N2Growth Blog

Great leaders intrinsically understand that team building catalyzes collaboration, creates both disruptive and incremental innovation, facilitates a certainty of execution, and is one of the key foundational elements associated with creating a dynamic corporate culture. I have been generally well regarded throughout my career for building extremely effective teams, and what I can share with you is that team building is not about equality at all.

When Success is Born Out of Serendipity

Harvard Business Review

The book did quite well — it has been translated into 18 languages at this point, become part of the ongoing innovation dialogue, allowed me to present ideas to executives across the world, and to build a unique consulting firm with clients on six continents. The obvious targets were people in the field of innovation — those working in strategy, R&D, business development, and entrepreneurship. Your organization, career, even life can change in a single moment.

How to Get People to Collaborate When You Don’t Control Their Salary

Harvard Business

” People in industries as different as commercial real estate, pharma, biotech startups, hedge funds, and public school districts worried about how to transform a competitive, star-driven culture into a collaborative one when they had no power to juggle financial rewards and no influence over promotion decisions. To pursue this issue, I picked a new research setting where the reward system is highly constrained — and so is the career ladder.

Women Need to Realize Work Isn't School

Harvard Business Review

In school, being disruptive might get you sent to the principal's office, but in business, disruption is a proven path to success , describing innovations that take root at the low end of the market, or create a new market, and then eventually upend an industry. Consider disrupting yourself when it comes to these five areas — areas where the skills you honed as a high-achieving student are likely doing you a disservice in your career: 1.

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To Diversify Your Network, Follow the 2+1 Rule

Harvard Business Review

The ideal life raft, research from the Center for Talent Innovation shows , consists of three sponsors: In organizations with fewer than ten people, you’re best served by having one sponsor within the firm and two outside of it in the same industry; in larger firms, you’ll want one outsider and two insiders — one in your line of sight and one in a different department or division. This “2+1 Rule” pertains for every career stage, from entry level to executive.

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7 Skills That Aren’t About to Be Automated

Harvard Business

This problem of extending the automatic reasoning of AI systems to understand the context of their decisions is highly complex, and creative innovation, like the one at Google, is usually needed to push the effort forward. Moreover, we have found that the defining characteristic of executive decisions is that there is no right answer, and the options are laden with emotional consequences: Whose career will soar? John Fedele/Getty Images.

Superbosses Aren’t Afraid to Delegate Their Biggest Decisions

Harvard Business

These “ superbosses ,” as I called them, spanned dozens of industries and included legendary figures such as fast casual restaurant magnate Norman Brinker, packaged foods titan Michael Miles, tech mogul Larry Ellison, hedge fund pioneer Julian Robertson, media icon Oprah Winfrey, and a host of others. ” Superbosses are constantly pushing themselves to innovate, and they expect employees to work independently and take bold creative risks.

How to Brand a "Useless" Degree

Harvard Business Review

For some, the path forward is clear: the math experts will be snapped up by hedge funds, the software engineers will have their pick of start-ups, and elite investment banks and consultancies will duke it out for the top MBAs. I was graduating with a master''s degree in theological studies; aiming for a career in academia, I had been utterly unconcerned about the practical applicability of my degree. Next, you''ll want to position yourself as a potential fount of innovation.

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“Trust Me, I’m a Leader”: Why Building a Culture of Trust Will Boost Employee Performance – and Maybe Even Save Your Company

Strategy Driven

Unusually Excellent is a back-to-basics reference book that offers both seasoned and aspiring leaders a framework for understanding and a guide for applying the battle-tested fundamentals of leadership at every stage of their careers. Most employees have been hurt or disappointed, at some point in their careers, by the hand of power in an organization. When they’re punished, you instill a fear of risk-taking in your employees, and with that you stifle creativity and innovation.

What Amazing Bosses Do Differently

Harvard Business Review

And when it comes to promotion, look past rigid competency models and career ladders for growth opportunities tailored to the ambitions, talents, and capacities of each person. Legendary bosses like Bill Sanders in real estate, Julian Robertson in hedge funds, and Bill Walsh in professional football all communicated visions that entranced employees and left them hell-bent on success. They reward innovation and initiative, and encourage everyone in the group to do the same.

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“Trust Me, I’m a Leader”: Why Building a Culture of Trust Will Boost Employee Performance – and Maybe Even Save Your Company

Strategy Driven

Unusually Excellent is a back-to-basics reference book that offers both seasoned and aspiring leaders a framework for understanding and a guide for applying the battle-tested fundamentals of leadership at every stage of their careers. Most employees have been hurt or disappointed, at some point in their careers, by the hand of power in an organization. When they’re punished, you instill a fear of risk-taking in your employees, and with that you stifle creativity and innovation.

Design Can Drive Exceptional Returns for Shareholders

Harvard Business Review

Using human-centered design methods, inspiration for the company’s signature products is drawn directly from its cadre of famous and not-so-famous practicing athletes, with whom the designers directly interact with to devise authentic performance innovations and style updates. Further, Nike was ranked the #7 most innovative company by Fast Company in 2014 , and the 13 th most admired company by Forbes magazine. It used to be about “us” and “them.”. “Us”

How the Next Generation Is Approaching Society’s Biggest Problems

Harvard Business Review

First, private citizens, particularly younger people, are choosing different types of career paths. Finally, innovation in the financial markets are funding novel approaches to address these problems. Soon after, when Khan began tutoring his niece in mathematics while working at a hedge fund, he hit upon the idea of developing short video tutorials on YouTube.

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How an NBA Team Thinks About Data, Talent, and Pricing

Harvard Business Review

That way, when the going is good, you can maximize your upside yield on assets like ticket sales and merchandise, and when the team isn’t performing quite as well, you have a hedge in place to protect your downside risk. While the NBA has taken a different approach than MLB regarding digital content, we are not lagging and are widely considered to be innovators, as evidenced by our global digital footprint, rivaled only by European soccer. Basketball is on the brain in March.

How to Revive a Tired Network

Harvard Business Review

Make you more innovative. Without a good network, you will also limit your own imagination about your own career prospects. When I conduct this exercise in class, the average density hovers above 50 percent, although it is significantly lower for professionals who work mostly with outside clients such as consultants, investment bankers, lawyers, headhunters, and auditors and for people who go back to school to orchestrate a career change.