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Getting Ahead

3 Ways to … Shake Up Your Life

October 22, 2022 By Nagesh Belludi Leave a Comment

How to Shake Up Your Life There’s much comfort in sameness and certainty. Overhauling your life—whether it’s your home, job, or your relationship—can seem an impossible task. But three attitudes can get you started:

  1. Try saying ‘yes’ instead of ‘no.’ Significant changes aren’t without pain, but no good comes from hesitation and inaction. Act decidedly on an opportunity before it ceases to be one. If taking a giant leap is terrifying, take a few low-risk steps and watch your confidence grow. Over time, you’ll become more resilient, adaptable, and bolder.
  2. Think things through. If you’re unhappy with your life, hammer out exactly what you hope to achieve by facing your fear and ripping things up. What worries you controls you. Don’t allow your feelings to dictate your behavior—be clear about why you’re doing this and why it matters to you.
  3. Do something different that scares you—every day. Broaden your horizons. Travel to someplace you haven’t been to before. Try a new food or learn new skills. Try different paths to personal fulfillment. A spirit of constant self-challenge keeps you humble and open to new ideas that very well may be better than the ones you currently hold dear.

Idea for Impact: Sometimes, all it takes is a slight nudge in the right direction.

Wondering what to read next?

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  5. Rules Are Made to Be Broken // Summary of Francesca Gino’s ‘Rebel Talent’

Filed Under: Living the Good Life, Sharpening Your Skills Tagged With: Attitudes, Creativity, Getting Ahead, Resilience, Winning on the Job

Why Groups Cheat: Complicity and Collusion

July 2, 2022 By Nagesh Belludi Leave a Comment

Why Groups Cheat: Complicity and Collusion News broke out that Ernst & Young revealed this week that its employees cheated on ethics exams. The accounting behemoth is being fined $100 million. That’s one of the biggest fines ever levied against an audit firm.

It’s absurd that specialists responsible for keeping things straight and steering moral enterprise cheated on ethics exams! Ernst & Young’s leadership evidently disregarded the internal reports about the cheating. Perhaps because when people identify so strongly with a group, they’re much more swayed to view the group’s actions positively and accept that group’s norms.

Research by Vanderbilt University’s Jessica Kennedy and colleagues suggests that high-flying people are sometimes more inclined than low-ranking people to adopt what their group recommends, even when it represents an ethics breach. Power sometimes provokes people to so strongly want to identify with their group that they’re willing to overlook when the group’s collective actions cross an ethical line. This affinity is, therefore, urged to sustain transgression instead of stopping its spread, especially when the odds of being caught and punished are slim.

Wondering what to read next?

  1. Power Corrupts, and Power Attracts the Corruptible
  2. The Poolguard Phenomenon
  3. Shrewd Leaders Sometimes Take Liberties with the Truth to Reach Righteous Goals
  4. Power Inspires Hypocrisy
  5. The Ethics Test

Filed Under: Business Stories, Leadership, Managing People, Mental Models Tagged With: Discipline, Ethics, Getting Ahead, Integrity, Leadership, Motivation, Psychology, Role Models

Book Summary: Jack Welch, ‘The’ Man Who Broke Capitalism?

June 23, 2022 By Nagesh Belludi Leave a Comment

The Man Who Broke Capitalism (2022) by New York Times columnist David Gelles contends that the pernicious greed spawned by former General Electric CEO Jack Welch is exceptionally responsible for exposing the structural failings of capitalism in recent decades.

'The Man Who Broke Capitalism' by David Gelles (ISBN 198217644X) The danger inherent in any ideology grows stronger when it starts to thrive because it swiftly morphs into temptation—a voracious appetite for ever better “returns” in the present case. Welch was indeed the most visible catalyst and a much-imitated champion of brutal capitalism. But Gelles’s narrative draws his book’s lengthy subtitle (“How Jack Welch Gutted the Heartland and Crushed the Soul of Corporate America”) excessively, thrusting ad nauseam the well-founded thesis against Welch’s ploys and “the personification of American, alpha-male capitalism.” See my previous articles (here, here, and here) about how the faults of Welch’s strategy become evident many years after his retirement.

Gelles does an agreeable job of outlining the socioeconomic paradigm that has made modern western capitalism’s shortcomings ever more apparent. Starting with influential economist Milton Friedman’s decree in the ’70s that the one and only social responsibility of a business is to maximize profits, Gelles explains the revering of Welch’s “downsizing, deal-making, and financialization” strategy. Without balance, it provided short-term benefits for shareholders, but the long-term well-being of corporations and society lost out. A sense of restraint is most pertinent to the power of capitalism.

Summary of 'The Man Who Broke Capitalism' by David Gelles Capitalism isn’t irretrievably bound to fail, as Gelles rightly argues, but it needs to be rethought. It’s morally incumbent upon the social order to inhibit the embedded incentives that create powerful tendencies towards short-termism. Gelles offers no more realistic, objective insights than the familiar solutions prescribed by our career politicians.

Overall, Gelles’s pro-Fabian polemic falls short of a fair-minded assessment of the epoch’s economic forces. Indeed, many of Welch’s tactics were timely and necessary, but he pushed them farther and longer. Too, Gelles fails to study counterexamples of many corporate leaders who’ve thoughtfully copied Welch’s playbook and helped their businesses and communities prosper, not least because they were restrained enough to avoid Welchism’s blowbacks.

Recommendation: Speed Read The Man Who Broke Capitalism for a necessary reappraisal of the legacy of Jack Welch. There isn’t much eye-opening here, but author Gelles affords a relevant parable about the power of restraint and the time- and context-validity of ideas.

Wondering what to read next?

  1. Power Corrupts, and Power Attracts the Corruptible
  2. The Checkered Legacy of Jack Welch, Captain of Wall Street-Oriented Capitalism
  3. Lessons from Peter Drucker: Quit What You Suck At
  4. The Cost of Leadership Incivility
  5. Shrewd Leaders Sometimes Take Liberties with the Truth to Reach Righteous Goals

Filed Under: Business Stories, Leadership Reading, Mental Models, The Great Innovators Tagged With: Decision-Making, Discipline, Ethics, General Electric, Getting Ahead, Humility, Icons, Jack Welch, Leadership Lessons, Role Models, Targets

Great Jobs are Overwhelming, and Not Everybody Wants Them

June 13, 2022 By Nagesh Belludi Leave a Comment

One of my friends, a senior executive at a Fortune 500 firm, recently said, “no, thank you” when asked if he’d like to be considered for the post of CEO of his company.

My friend is an ideal CEO candidate: he’s accomplished and well-liked, he’s about 10 years from retirement, he’s been a company “lifer,” and he’s worked hard grabbing the gold ring.

Great Jobs are Overwhelming, and Not Everybody Wants Them When I asked what caused this change of mind, he reflected, “At what cost, however?”

Well, his response wasn’t unexpected. A successful corporate career demands a high level of performance for sustained periods.

Ambitious professionals, especially top performers, have started to think differently about the tradeoffs of a demanding job. They’re asking questions such as “How much is enough?” and “If I get that job, what is it that I’m giving up?”

Most new CEOs are overwhelmed, disclosing that their jobs are more demanding, complex, and stressful than expected. Little wonder, then, that the average CEO’s tenure has gotten shorter over the years.

The brutal reality is that CEOs have less time than ever to prove their worth. The tolerance for mistakes and short-term underperformance has really gone down.

CEOs have to perform or perish. The CEO job is no longer a tenured role, and the ground has shifted over the decades. Several factors have made the jobs of business chiefs much more complicated than in the past. There’s immense pressure to produce consistently excellent results and keep everybody satisfied. It’s so stressful just working hard to keep the job. Then there’s the unremitting pressure of walking a tightrope; managing the conflicting interests between various stakeholders is exhausting.

Ceos Have Less Time Than Ever to Prove Their Worth CEOs’ performance must be more transparent than ever due to the never-ending demands imposed by global competition, geopolitical volatility, technological disruptions, ever-watchful regulators, increasingly engaged boards, and the specter of activist shareholders. A job with such challenges can quickly overwhelm, and CEOs end up working days, nights, and weekends in a futile attempt to pull free. They feel guilty about sacrificing precious family time for their work.

Above all, CEOs feel lonely at the top—being “where the buck stops,” they don’t have anyone to confide in. CEOs tend to isolate themselves due to the overwhelming responsibilities and the pressure to appear calm to employees.

Idea for Impact: Not everybody wishes to climb the top of the ladder. A high-pressure climate is not for everybody. Remember, burnout happens not when you work too much but when you invest emotionally in work and don’t get a commensurate return.

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Filed Under: Career Development, Health and Well-being, Living the Good Life Tagged With: Assertiveness, Balance, Career Planning, Getting Ahead, Mindfulness, Stress, Time Management, Work-Life

Even the Best Need a Coach

November 22, 2021 By Nagesh Belludi Leave a Comment

Even the Best Need a Coach (Tom Brady with coach Bill Belichick)

As the saying goes, it’s what you learn after you know it all.

Top athletes rely on coaches to push their performance to new heights. Even Tiger Woods had a swing coach at the top of his game.

Many corporate executives seek out several advisors who help frame ideas for them and play a point of critical thinking. Former General Electric CEO Jack Welch worked with Ram Charan, the eminence grise of business advisors, for many years.

“It’s not how good you are now; it’s how good you’re going to be that really matters”

In a TED2017 speech, the American surgeon Atul Gawande—author of such well-received books as The Checklist Manifesto (2011)—emphasized how coaching helps individuals and teams execute better on the fundamentals:

Having a good coach to provide a more accurate picture of our reality, to instill positive habits of thinking, and to break our actions down and then help us build them back up again.

There are numerous problems in “making it on your own.” You don’t recognize the issues that are standing in your way—or, if you do, you don’t necessarily know how to fix them. And the result is that somewhere along the way, you stop improving.

That’s what great coaches do—they are your external eyes and ears, providing a more accurate picture of your reality. They’re good at recognizing the fundamentals. They’re breaking your actions down and then helping you build them back up again.

Sometimes you can be too close to things to see the truth.

Blind spots are less obvious when things are going well. It is very easy for you to become inward-looking, particularly when you’ve been very successful. However, these blind spots can become destructive when performance moves in the other direction.

A third-party, fresh-eye assessment is an obvious reality check. Coaching is a whole line of way that can bring value to what you do and excel at it.

If you’re successful and want to get better, you’ll need to look at your situation as an outsider might. Coaching can help you get perspective and see things in a more detached manner.

It’s Lonely at the Top

Executives need a valuable ally and a resource for professional growth. They hire coaches to help explore their strengths and vulnerabilities.

Coaches are also valuable allies in decision-making. Many executives find it helpful to talk important decisions over with a trusted coach—just the process of talking can help sort out and clarify thoughts and feelings. Not to mention how another person’s views may illumine aspects of a problem that you may have missed.

Besides, many a coach’s specific arena is one of interpersonal relationships, office politics, and corporate culture. To be effective in our work, you must be effective in building relationships with your bosses, subordinates, peers, and other organizational stakeholders such as customers and suppliers. Management and leadership are all about influence.

Idea for Impact: Coaching is how people get better at what they do

You too should consider a coach to look at things with a fresh eye, improve your performance, and help with interpersonal relationships in the workplace.

Wondering what to read next?

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  4. Howard Gardner’s Five Minds for the Future // Books in Brief
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Filed Under: Career Development, Sharpening Your Skills Tagged With: Asking Questions, Critical Thinking, Decision-Making, Getting Ahead, Mentoring, Networking, Problem Solving, Winning on the Job

How to See Opportunities Your Competition Doesn’t

November 19, 2021 By Nagesh Belludi Leave a Comment

'Different' by Youngme Moon (ISBN 0307460851) Harvard strategy professor Youngme Moon’s Different: Escaping the Competitive Herd (2010) describes how many companies pursue the same opportunities that every other company is chasing and thus miss the same opportunities that everyone else is missing.

In category after category, companies have gotten so locked into a particular cadence of competition that they appear to have lost sight of their mandate—which is to create meaningful grooves of separation from one another. Consequently, the harder they compete, the less differentiated they become … Products are no longer competing against each other; they are collapsing into each other in the minds of anyone who consumes them.

Moon argues that the companies and brands that see a different game win big. Such innovators don’t just try to outcompete their rivals at the margin. Instead, they redefine the competitive landscape by embracing unique ideas in a world crammed with me-too thinking.

European airline Ryanair unleashed a new wave of relentless cost- and price-leadership by charging customers extra for everything beyond a seat itself. If you want to check a bag, you pay extra. If you want an airport agent to check you in and print your boarding pass, you pay extra. If you want food and drink, you pay extra. Later on, Spirit Airlines took the price-obsession further by charging for carry-on bags too. After a rough rollout and customer defiance, paying for carry-on bags has become the new normal.

Idea for Impact: Being different is what makes all the difference. If you do things the same way everyone else in your field does things, why would you expect to do any better? What are you doing to raise your game—not just to stay in place, but to get ahead?

Wondering what to read next?

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  4. Books in Brief: ‘Flying Blind’ and the Crisis at Boeing
  5. Your Product May Be Excellent, But Is There A Market For It?

Filed Under: Business Stories, Leadership, The Great Innovators Tagged With: Aviation, Competition, Customer Service, Getting Ahead, Innovation, Leadership, Risk, Strategy

Don’t Be Deceived by Others’ Success

November 15, 2021 By Nagesh Belludi Leave a Comment

Imitating successful competitors is a leading pathway to business innovation. Benchmarking can offer meaningful insights into comparative performance and help discover learnings for improvement. However, adopting others’ best practices can be surprisingly misleading and ineffective.

Four perception biases that come with benchmarking other companies can fail to make yours any better.

Many companies luck into success.

Don't Be Deceived by Others' Success As I’ve noted before, you can’t reproduce others’ luck. Successful companies tend to significantly overvalue the effect of their leaders’ deliberate decisions on their performance and understate the role of chance—being at the right time, at the right place, with the right people. Alas, what worked in their circumstances may not work in yours.

The set-up-to-fail syndrome.

Benchmarking can be remarkably misleading when you make oversimplified comparisons to superstars who may not represent your situation. You could sink your business if you blindly copy celebrity leaders’playbooks in the wrong context, product, strategy, or market.

Companies that benchmark Apple and Steve Jobs and sidestep market research often disappoint themselves when their product launches fail. The leaders of these companies neither have Jobs’s brilliant intuition nor his extraordinarily talented creative team to build what customers want but didn’t know they wanted yet.

In the same way, companies that imitate the 20-70-10 “rank and yank” processes from Jack Welch’s playbook often fail to realize that several factors contributed to their success at General Electric. Welch had a robust organizational culture that insisted on regular and candid employee feedback and robust personnel processes for recognizing and developing the best talent within the company.

Corporate culture is a tricky business.

Your company’s culture—the prevailing way your people feel, think, behave, and relate to one another—cannot be changed easily. One industrial company aborted trying to imitate Google’s culture. This company couldn’t get its managers and employees to be more autonomous and innovative because the company’s and the industry’s ingrained culture did not lend itself to experimentation, risk-taking, and the celebration of fast failure.

Benchmarks look backward, not forwards.

'Benchmarking for Best Practices' by Christopher Bogan (ISBN 0070063753) In a competitive, ever so fast-changing world, what has succeeded in the past ten years may not necessarily do so in the next 10. The management guru Tom Peters once warned, “Benchmarking is stupid! Because we pick the current industry leader, and then we launch a five-year program, the goal of which is to be as good as whoever was best five years ago, five years from now.”

A strong focus on “quick wins” can turn out long-term losers.

Benchmarking can make short-term gains but have adverse long-term effects that may not manifest until many years later. By imitating an industry leader, a capital goods company decided to boost efficiency by outsourcing design to its suppliers. Years later, it discovered the debilitating effects of the loss of vital technical knowledge.

Idea for Impact: Best practices only add value when applied in the proper context

Applying best practices in the wrong context is a sure-fire way to hold your company back.

Pay attention to all ideas, mull them over, test what makes sense, adopt what works, and discard what doesn’t.

Sure, help yourself to great ideas wherever you can get them, but be mindful of the context. Try to understand how the top performers’ circumstances and culture may be causing their success. Think through the long-term consequences of any decision you take or any practice you adopt.

Wondering what to read next?

  1. Creativity by Imitation: How to Steal Others’ Ideas and Innovate
  2. The Checkered Legacy of Jack Welch, Captain of Wall Street-Oriented Capitalism
  3. Book Summary: Jack Welch, ‘The’ Man Who Broke Capitalism?
  4. The Cost of Leadership Incivility
  5. Hitch Your Wagon to a Rising Star

Filed Under: Leadership, Mental Models Tagged With: Creativity, Critical Thinking, Getting Ahead, Icons, Leadership Lessons, Mentoring, Role Models, Winning on the Job

Hitch Your Wagon to a Rising Star

October 28, 2021 By Nagesh Belludi Leave a Comment

If it becomes apparent that someone above you on your department’s org chart is a superstar, let them know that you want to join their team or continue to work with them as they move up. Especially if you sense you’d connect with them intellectually as well as emotionally.

Companies identify their A-players, pour training into them, give them growth opportunities, and build their experience using “stretch assignments.” Partner with such a superstar. Even if they get hired away by a competitor, you’ll stand a chance of moving with them.

Contrarily, if you wind up working with someone whose career is about to implode, try to get a transfer away from that person as quickly as possible.

Wondering what to read next?

  1. Some Lessons Can Only Be Learned in the School of Life
  2. Five Ways … You Could Elevate Good to Great
  3. Don’t Be Deceived by Others’ Success
  4. Don’t Use Personality Assessments to Sort the Talented from the Less Talented
  5. Before Jumping Ship, Consider This

Filed Under: Career Development, Managing People Tagged With: Career Planning, Getting Ahead, Mentoring, Role Models, Winning on the Job, Workplace

Five Ways … You Could Elevate Good to Great

March 18, 2021 By Nagesh Belludi Leave a Comment

  1. Five Ways Don’t be too self-critical. If you must dissect your faults, do so with a mirror, not a magnifying glass. For instance, reframe “I’m buried in debt” as “I owe $800 on credit cards and $10,000 in student loans.”
  2. Set easy-to-meet, incremental goals. You’ll feel so good about the results that taking the next step will be much easier. The best plans are only good intentions unless you set deadlines for yourself and achieve results. Keep a written list of all your accomplishments, however small, and celebrate your progress.
  3. Don’t try to do everything. Continuous learning on a few areas will help you pin down and sharpen the essential skills to move up.
  4. Make the most of mentors. Bring together a range of experts and tap into their knowledge and experience. Watch and learn how those you admire got to where they are now. Take responsibility for your own development and placement. Map out your own journey.
  5. Seek out opportunities. Join cross-team projects. Get involved with all aspects of your job. Keep your eyes and ears open to everything up for grabs. Ask for what you want and take risks—you’ll accomplish more and feel good about being brave.

Bonus: Come to terms with your limitations and deal with problems deftly before they metastasize.

Wondering what to read next?

  1. Some Lessons Can Only Be Learned in the School of Life
  2. The Truth about Being a Young Entrepreneur
  3. Hitch Your Wagon to a Rising Star
  4. Beware of Advice from the Superstars
  5. Don’t Be Deceived by Others’ Success

Filed Under: Career Development, Sharpening Your Skills Tagged With: Getting Ahead, Learning, Mentoring, Personal Growth, Role Models, Skills for Success, Winning on the Job

Making It Happen // Book Summary of Larry Bossidy’s ‘Execution’

November 5, 2020 By Nagesh Belludi Leave a Comment

It’s back-to-basics in Larry Bossidy and Ram Charan’s Execution: The Discipline of Getting Things Done (2002.) Bossidy is a retired business executive (General Electric, AlliedSignal/Honeywell,) and Charan is a distinguished business consultant.

Execution was the best-seller that defined the corporate zeitgeist in America after the dot-com meltdown and the Enron and WorldCom scandals. Catchphrases such as “execution,” “shaping the broad picture,” “straight talk,” and “robust action” became caricatures of how American companies got things done.

Here’s a distillation of the main ideas in Execution:

  • Ideas are well and good, but how thoroughly you implement them is what “determines success in today’s business world.” Companies are hindered by the gap between what the company’s leaders want to achieve and their ability to achieve it. “The real problem is that execution just doesn’t sound very sexy. It’s the stuff a leader delegates.”
  • 'Execution Discipline of Getting Things Done' by Larry Bossidy (ISBN 0712625984) There’s no room for fluffiness if you want to get things done. Straight talk is “live ammo.” “You need robust dialogue to surface the realities of business the kind that can leave people feeling bruised if they take it personally.”
  • The leader sets the tone and leads the change. A good motto to follow is, “Truth over harmony.” Focus on “raising the right questions, debating them, and finding realistic solutions.” Avoid discourses that are “stilted, politicized, fragmented, and butt-covering.” “Candor helps wipe out the silent lies and pocket vetoes, and it prevents the stalled initiatives and rework that drain energy.”
  • Informality is critical to candor. Formal and ceremonial conversations and presentations leave little room for debate. Too often, communication is scripted and predetermined. Informality encourages questions and is more likely to promote intuitive and critical thinking.
  • Strategic, people, and operational processes are the building blocks for execution—and they’re interrelated. “The foundation of changing behavior is linking rewards to performance and making the linkages transparent.”

Recommendation: Skim Larry Bossidy and Ram Charan’s Execution: The Discipline of Getting Things Done (2002.) Most of the book is about setting expectations, holding people accountable, and following through. There’re no instructive case studies. There’re no new magic pills. The substance is genuinely elementary, and the tone self-righteous. You don’t need a book for exhortations like “put the right person in the right job,” “know your people and your business,” “test critical assumptions,” “follow-through,” “deal with non-performers,” and “expand people’s capabilities through coaching.”

Wondering what to read next?

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  2. Fire Fast—It’s Heartless to Hang on to Bad Employees
  3. General Electric’s Jack Welch Identifies Four Types of Managers
  4. A Guide to Your First Management Role // Book Summary of Julie Zhuo’s ‘The Making of a Manager’
  5. Create a Diversity and Inclusion Policy

Filed Under: Leading Teams, Managing People Tagged With: Change Management, Delegation, Getting Ahead, Great Manager, Jack Welch, Performance Management

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About: Nagesh Belludi [hire] is a St. Petersburg, Florida-based freethinker, investor, and leadership coach. He specializes in helping executives and companies ensure that the overall quality of their decision-making benefits isn’t compromised by a lack of a big-picture understanding.

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