Tag Archives: Leadership

Updates from Chicago Booth

Identify and rise above load-bearing assumptions
By Linda E. Ginzel – How could you build a really, really tall building without building really, really thick walls?

A man named William Le Baron Jenney came up with the answer. Jenney is widely recognized as the father of the American skyscraper, and according to Chicago lore, he had a breakthrough idea when he observed his wife placing a very heavy book on top of a tall metal birdcage. The cage not only supported the weight of the book, Jenney could see that it could have easily supported a whole stack of books. A stack of books piled high and balancing on a birdcage—what an image.

Jenney introduced the idea of a complete, steel skeleton, and he built the first fully metal-framed skyscraper in Chicago in 1884. Just as his wife used a birdcage to support the weight of a very big book, Jenney used metal columns and beams to support his building from the inside.

This story demonstrates the combined power of shedding a default assumption that weighed people down with making a major conceptual shift, which, in this case, provided architects the strength they needed to build higher.

Many of us face load-bearing assumptions, perhaps about management, strategy, finance, or leadership. For example, you may assume that the economic world is a zero-sum game.

Shedding assumptions is not an easy task because many have served you well in the past, and there is risk in abandoning them. Yet one of the most important skills that you can acquire is a willingness to question your load-bearing assumptions and make a different choice, when necessary. more> https://goo.gl/zR2hFR

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A Dangerous Game

By Kenneth T. Walsh – President Donald Trump is playing a dangerous game. He is adding a very disruptive ingredient to his governing approach – potentially alienating and confusing his own staff and the lawyers who are trying to defend him in his legal battle to crack down on terrorism and illegal immigration. In the process, Trump is giving everyone a window into his mind, and the view is filled with anger and an eagerness for combat, not unity or conciliation.

Overall, Trump typically wraps his Twitter rants in an angry and dismissive tone, and his diatribes frequently go far afield from the issues that Trump says are his top priorities, such as creating jobs, cutting taxes and overhauling the healthcare system. He even got into a public feud with London Mayor Sadiq Khan over how to respond to terrorism in the wake of the lethal attacks in London a week ago. more> https://goo.gl/aYN2iY

The end of globalisation as we know it?

By Durukal Gun , Christian Keller, Sree Kochugovindan, Tomasz Wieladek – Modern globalisation has gone well beyond the trade of goods, as technology allowed for transfer of know-how and skills.

Since glottalization began in the middle of the 1800s, it has been through several different cycles. Now it appears to have reached yet another turning point.

Only recently has globalization matched the heights it reached before World War I.

  • First wave of globalization (1850s to 1914)
  • Protectionism (1914 to 1945)
  • Second wave of glottalization (1945 to 1990)
  • Hyperglobalization (1990 to present)

Among the clear beneficiaries of hyperglobalization are the emerging economies, which have become increasingly integrated into more and more complex global value chains. Their role in processing raw materials, and in value-added manufacturing and services has grown rapidly.

The first signs of opposition to hyperglobalisation emerged amid major demonstrations at the 1999 meeting of the World Trade Organization in Seattle. Concerns mounted in the wake of the 2008-09 financial crisis and subsequent global recession, reflected more recently in public resistance to trade and investment agreements such as the Transatlantic Trade and Investment Partnership and the Trans-Pacific Partnership.

Discriminatory protectionist tariffs and trade measures are on the rise. more> https://goo.gl/K54eeK

A pioneering computer scientist wants algorithms to be regulated like cars, banks, and drugs

By Katherine Ellen Foley – It’s convenient when Facebook can tag your friends in photos for you, and it’s fun when Snapchat can apply a filter to your face. Both are examples of algorithms that have been trained to recognize eyes, noses, and mouths with consistent accuracy.

Such algorithms are already deeply embedded in many aspects of our lives. They do such things as setting prices on stock markets, flying aircraft on autopilot, calculating insurance risks, finding you an Uber, and devising routes for delivery trucks.

But algorithms make mistakes too, and when they do it can be extremely hard to figure out why—witness the flash crashes on stock markets and the autopilot failure that brought down Air France flight 447 in 2009. more> https://goo.gl/O8inEI

End-times for humanity

BOOK REVIEW

Death of the Posthuman: Essays on Extinction, Author: Claire Colebrook.
This Changes Everything: Capitalism vs the Climate, Author: Naomi Klein.
Antifragile, Author: Nicholas Taleb.
A Vindication of the Rights of Woman, Author: Mary Wollstonecraft.
The Social Contract, Author: Jean-Jacques Rousseau.

By Claire Colebrook – The panic isn’t merely about civilisational threats, but existential ones. Beyond doomsday proclamations about mass extinction, climate change, viral pandemics, global systemic collapse and resource depletion, we seem to be seized by an anxiety about losing the qualities that make us human.

Social media, we’re told, threatens our capacity for empathy and genuine connection.

How did we arrive at this moment in history, in which humanity is more technologically powerful than ever before, and yet we feel ourselves to be increasingly fragile?

What contemporary post-apocalyptic culture fears isn’t the end of ‘the world’ so much as the end of ‘a world’ – the rich, white, leisured, affluent one. Western lifestyles are reliant on what the French philosopher Bruno Latour has referred to as a ‘slowly built set of irreversibilities’, requiring the rest of the world to live in conditions that ‘humanity’ regards as unlivable.

And nothing could be more precarious than a species that contracts itself to a small portion of the Earth, draws its resources from elsewhere, transfers its waste and violence, and then declares that its mode of existence is humanity as such. more> https://goo.gl/1nriI9

The Difference Between Real And Pretend Strengths

BOOK REVIEW

The New Leader’s 100-Day Action Plan, Author: George Bradt.

By George Bradt – Real strengths are made up of talent, knowledge and skills. It’s not enough to study a subject. Expertise is born of practice.

Real strengths enable people to do what they need to do. Pretend strengths may be intriguing at first, but end up disappointing.

Too many people think they should be able to sell because they’ve worked with salespeople before, either as buyers themselves, providing support to sales, or making products or services that others sell. They can’t sell. Selling requires talent, knowledge and skills born of practice.

Too many people think they can teach because they’ve been students.

Frontier Communications bought AT&T’s wire line services in Connecticut. They were excited because the transaction was going to: “be accretive” and “improve Frontier’s dividend payout” while customers “will have the same products and services that they currently enjoy”. (From their press release.)

Wasn’t true. The day of the transfer, my voicemail service got “disabled”. And it stayed disabled for 11 days. Each of the four times I called Frontier I was informed that they would “open a ticket”. I didn’t want a ticket. I wanted voicemail.

Frontier’s not a real phone company. It just plays one on TV. more> https://goo.gl/pH2m1L

Our obsession with GDP and economic growth has failed us, let’s end it

BOOK REVIEW

Wellbeing Economy: Success in a World Without Growth, Author: Lorenzo Fioramonti.

By Lorenzo Fioramonti – The idea that the economic “pie” can grow indefinitely is alluring. The “growth first” rule has dominated the world since the early 20th century. No other ideology has ever been so powerful: the obsession with growth even cut through both capitalist and socialist societies.

But what exactly is growth? Strangely enough, the notion has never been reasonably developed.

For common sense people, there is growth when—all things being equal—our overall wealth increases.

Paradoxically, our model of economic growth does exactly the opposite of what common sense suggests.

Here are some examples. If I sell my kidney for some cash, then the economy grows. But if I educate my kids, prepare and cook food for my community, improve the health conditions of my people, growth doesn’t happen.

If a country cuts and sells all its trees, it gets a boost in GDP. But nothing happens if it nurtures them. more> https://goo.gl/k6G27r

Resisting Authoritarian Populism: Lessons From/For Singapore

By Kenneth Paul Tan – Although a young, small, and multi-ethnic nation-state, Singapore is prosperous, peaceful, and surprisingly influential in the global imagination. But its international image has attracted contradictory reactions.

History presents numerous examples of fragility where liberal democracies are concerned. Political philosophy tells us that diversity—and nearly every society today is diverse—can weaken the  communitarian basis of a society, making it difficult for the state to function well and eroding the trust that binds people to one another and to their institutions.

Without a strong institutional basis, the nation-state can become vulnerable to authoritarian populism, particularly when hit by crisis. Out of a demoralized society, moral and political entrepreneurs, often skillful demagogues, emerge and compete for power by mobilizing a collective sense of victimhood directed against an allegedly corrupt establishment as well as scapegoats such as immigrants, ethnic minorities, and sexual minorities, upon whom the entire blame for all of society’s ills are placed. more> https://goo.gl/8GKyGP

American dreaming 3.0

BOOK REVIEW

American Nietzsche: A History of an Icon and His Ideas, Author: Jennifer Ratner-Rosenhagen.
The Epic of America, Author: James Truslow Adams.
Dreams from My Father, Author: Barack Obama.
A Discourse on the Method, Author: René Descartes.
The Liberal Imagination, Author: Lionel Trilling.
The Third Reich of Dreams, Author: Charlotte Beradt.
Freedom Dreams, Author: Robin Kelley.

By Jennifer Ratner-Rosenhagen – Because the ‘American Dream’ is such a key phrase of the country’s self-understanding, it feels like a founding ideal of the US. However, it is not so old. It was scarcely used before the historian James Truslow Adams first popularized it in The Epic of America (1931) as both a vision that united centuries of US history, and also a universal human aspiration. It was, wrote Adams, ‘that dream of a land in which life should be better and richer and fuller for every man, with opportunity for each according to his ability or achievement’. The ‘American Dream’ represented equality, social mobility and opportunity.

How to assess the potential political uses of dreams?

The great potential of dreams for our public life lay in their ability to help people question that which goes by the clumsy and overworked moniker of ‘reality’ in political debate. Taking dreams seriously can lead to the kind of fundamental, unobvious discussions that those who wield ‘reality’ to browbeat people into ignorant submission, or dutiful obedience to whatever status quo, use to defend it. But these are examples when ‘reality’ is on its best behavior. more> https://goo.gl/mwXNYT

Murphy’s Law is totally misunderstood and is in fact a call to excellence

By Corinne Purtill – You have likely at some point heard the saying known as Murphy’s Law: Everything that can go wrong will.

Murphy’s Law originated at Edwards Air Force Base in southern California, the same place where Chuck Yeager broke the sound barrier in 1947. Around that time, a team of Edwards engineers was working on Project MX981, a mission to determine the amount of force a human body could sustain in a crash.

In the late 1940s, the team received a visit from an Air Force captain and reliability engineer named Edward A. Murphy, Jr. The details of the story vary. The best and most comprehensive history of Murphy’s Law comes from documentarian Nick T. Spark, who interviewed the surviving witnesses more than 50 years after the fact. more> https://goo.gl/CwNE5e