Management Archives

Don’t Be a Jack of All Trades—Hire an Expert

Why should you hire an expert rather than trying to do everything yourself? In what three ways are you wasting time if you don’t hire an expert? Many business owners and managers struggle when it comes to giving up control—they strive to do everything on their own. However, rather than saving you time and money, doing everything yourself will often cost more money and waste your valuable time. Here is why you need to give up control and hire an expert.

The Five Dysfunctions of a Team: Discussion Questions

Are you looking for The Five Dysfunctions of a Team discussion questions? What are some of the key themes and ideas to discuss? In The Five Dysfunctions of a Team, Patrick Lencioni explores how teams fail to work cohesively through the lens of the five-dysfunction model. Further, he gives advice on how to recognize and root out each dysfunction by working your way up the dysfunction pyramid. To help you evaluate your team on each of the five dysfunctions, we’ve put together some discussion questions.

Scaling Up: Rockefeller Habits for the 21st Century

How do Scaling Up and the Rockefeller Habits compare? How do they address 21st-century business realities? Author Verne Harnish presents the ideas in his book Scaling Up as a “2.0” version of the Rockefeller Habits—the business principles that guided the career of John D. Rockefeller. Both frameworks provide insights for successfully growing your business, with Scaling Up modernizing the Rockefeller Habits for our time. Read more to learn about Scaling Up and the Rockefeller Habits.

How to Find the Right Person for the Right Job

Why is it better to hire an expert to do a difficult job for you rather than trying to do it yourself? How can you go about finding the right person for the right job? In their book Who Not How, Sullivan and Hardy say that you will always be better off hiring somebody to do a job for you than trying to figure it out yourself. Not only are you guaranteed to get a better result, but it may even end up cheaper than if you try to do it yourself and end up making the situation worse. Here’s

Scale Your Business: 4 Strategies to Stimulate Growth

What strategies can help you successfully scale your business? What practical actions can you take to keep your organization growing? Scaling Up’s Verne Harnish offers four strategies for scaling your business. He discusses how to form a strategic thinking group, adapt to changing circumstances, evolve the structure, and move beyond the founder. Read more to learn these strategy tips to successfully scale your business.

How to Build a Latticework of Mental Models

Why should you build a latticework of mental models? Can mental models help you deal with your cognitive biases? Building a latticework of mental models will help you become a versatile problem solver. You will use multidisciplinary learning to combine ideas across different disciplines to find solutions. Mental models will also help you recognize the psychological biases that could influence you, leading to better decision-making. Read on to discover how to build your own latticework of mental models.

Building an Effective Team: 3 Tactics for Success

What are the keys to building an effective team? How should you approach new hires and current team members? An all-star team is crucial to successfully grow your business. In Scaling Up, Verne Harnish offers three tactics for building an effective team—two for new hires and one for current employees. Read more to learn how to build an effective team.

Verne Harnish: 4 Tips to Keep Your Business Growing

What does business growth expert Verne Harnish recommend to keep your business growing once it’s up and running? What are the keys to the successful implementation of your growth plan? In Scaling Up, Verne Harnish discusses what it takes to navigate an organization through the growth process. Once you’ve established a strong foundation, he offers four things you should do to guide the implementation of your scaling-up strategy. Continue reading to learn these four keys from Verne Harnish.

Incentive-Caused Bias: Definition and Examples

The 25 Cognitive Biases: Incentive Caused Bias

What is incentive-caused bias? How do you prevent reward bias? Incentive-caused bias is the tendency of people to maximize their rewards within any incentive scheme. When people gain rewards for acting in a certain way, they will find it difficult to act otherwise, even when doing so would violate the intent of their obligations. You can prevent reward bias by designing incentive schemes that cannot be easily manipulated. Read on to learn more about incentive-caused bias.

Economies of Scale: Advantages and Flaws

The Advantages of Economies of Scale and Its Flaws

What are the advantages of economies of scale? Does scale come with its own disadvantages? The advantages of economies of scale include greater cost efficiency from increased product volume, competitive advantages due to size, and more sales because of brand ubiquity. Scale can also be disadvantageous because it can lead to bureaucracy and corruption. Read on to learn more about the advantages of economies of scale and its possible drawbacks.