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What gives companies competitive advantage?
What are the burning issues for corporate leaders today?
How do leaders lead in times of crisis or instability?
How do companies identify, attract, develop, and retain the best and brightest people in the marketplace?
The title of each chapter correctly indicates the primary focus of the interviews assembled within it: Leadership, Managing Human Capital, Establishing Competitive Advantage, Strategic change and Transformation, and finally Chapter 5, The Stakeholder's View. The value of this book will no doubt be determined by each reader in terms of the nature and extent of material most relevant to the reader's specific needs and interests. Here are brief excerpts from a few of the conversations which were of greatest interest to me. Hopefully they give those who read this review a sense of the quality of the responses to important issues.
Jim Collins on leadership: "We [Collins and his research associates] concluded that the answer to making companies great was not leadership itself. The real distinction was that there is a special form of leadership that takes companies from good to great....Level Five leaders are ambitious first and foremost for the company and its long-term greatness, not for themselves as individuals. As a result, they tend to be personally modest, humble and reserved,, but enormously willful on behalf of the organization....They tend not to become celebrities. They don't have their egos wrapped up in making themselves well-known....We found that there is an inverse relationship between high-profile, charismatic, egocentric leadership -- the Level Four leaders -- and the journey of the company from good to great."
John Hagel on how to respond to increased performance demands, shifts of surplus from from a structural advantage to a human capital advantage, and a bottleneck to value creation caused by shortages in key skill sets/experience: "What can companies do about these trends? As talent increases its ability to capture value, companies will need to rethink their businesses on a profound level. This includes even the most basic question of all: What business are we in? What business are we really in? Perhaps the most significant challenge involves the need to adopt a different mindset. Rather than looking at cost-cutting and automation as ways to cope, businesses will need to focus on accelerating growth as a way to reward talent and increase returns to the business at the same time. Rather than focusing on attracting and retaining talent, companies will need to concentrate on developing privileged relationships with talent, wherever it may reside."
Michael Dell on the New Economy: "The most essential trend, indeed the trend that spawned the New Economy, is the transition from atoms to electrons and now photons as a medium for information. With each of these transitions, the vehicles upon which information rides have become lighter. Thoughts, ideas, and productivity now flow with less friction than ever before, decreasing transaction costs and removing barriers to communication. As a result, it's now as simple and inexpensive to communicate a world away as it is to send a message across the room."
David M. Rubenstein on Jack Welch's leadership: "When he took the helm of General Electric 20 years ago, it was a well-respected company. At the time, no one thought that GE had any significant problems, yet Welch, in a mere two decades, transformed it into a completely different organization by building on existent strengths. Now, ha he just [in italics] presided during his period and not [in italics] led, GE would still be a reasonably successful electrical appliance company. But by dramatically expanding its mission and turning it toward a path it would never otherwise have taken, he set the gold standard for business leadership. Welch will be remembered for asking questions that others hadn't asked, motivating people, asking employees to dig a little deeper and work a little harder, and giving them a sense of why that was important to them, to their families, and to their communities."
In the Epilogue, written in collaboration with Jay A. Conger, Miles and Ashby present what they describe as a "new method of managing talent -- a systemic, holistic approach that leverages upside potential in the day-to-day workplace by translating it into sustainable value." It is called a People Operating System (POS) and is, in effect, a human capital management team. They suggest that there are seven specific attributes to be considered when identifying leadership talent. The seven are sensible enough and the points of emphasis, insofar as the attributes are concerned, are appropriate if rather obvious. However, I was unprepared for the introduction of the POS in the Epilogue. There is no indication that the POS was significantly influenced by what was learned during the interviews, from what Miles and Ashby call "leadership vignettes." I question the appropriateness of the Epilogue. Frankly, I had expected and would have preferred some correlations between and among the responses from those interviewed which suggest how the five chapter subjects may be separate but are also interdependent.
Whereas the Foreword and Introduction are eminently appropriate to the material in this volume, the Epilogue is not...at least not as Conger, Miles, and Ashby present it. Perhaps they will write another book which focuses entirely on the design, implementation, and subsequent development of a POS.
Strong on visionary leadership of talent, these top execs all view employees as their most valuable assets. You'll find innovative thinking on finding, hiring, developing, challenging, retaining and continuing to motive workers in demanding, volatile environments. User-friendly format with helpful Contents and Index tables allow you to dip into this book just to glean your favorite moguls' musings. But most readers will probably devour it in one sitting, start to finish. It's that captivating.
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The illustrations are just extraordinary. My daughter's favorite were the two pages that showed first all the alligators going onto the riverboat, and then the two pages that showed them all dancing at the alligator ball to the Swamp Band singing their song "Mama Don't Allow Any Music Playing in Here."
I have recommended this book to other parents, and they all report that their kids loved it just as much as mine did. This book is best suited for children between the ages of two and six. Good story, great illustrations, and it helps if you can come up with a nifty little tune to go with the lyrics of the song.
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Debbie Hardy