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ã 2003 Hopkins and Company, LLC
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Oil Change and Valve Job
Leaders choose when to oil the wheels of change,
and when to clear out the clogged valves that impede the effectiveness of an
organization. Sometimes these processes occur periodically; at other times
executives make sure their methods for organizational renewal and clarity
remain ongoing. The simplest questions should have clear answers. Who are we?
What do we stand for? What do we value? How does someone know that he or she
is doing a good job? How are we different from other organizations? Whom do
we serve? We’ve chosen an eclectic mix of stories from the news in recent
weeks to stimulate your thinking about this topic, including stories about
the impact of a liar on a company’s reputation; dealing with sexism at work;
the makings of a good boss; 10 make or break questions to see if your organization
is up to speed; and the value of stepping away for a while.
Fifteen new books are
rated in this issue, beginning on page 5, including two four-star (Highly
Recommended) ratings for books by award-winning novelists that would be perfect
for your summer vacation reading. For the first time, a father and son have
book reviews in the same issue. Also, we finally read a Deepak Chopra
book and awarded it our DNR rating (Do Not Read). You can also visit our 2003
bookshelf at http://www.hopkinsandcompany.com/bookshelf.html
and see the rating table explained as well as explore links to all 2003 book
reviews.
Star Scam
To whatever extent you’re
skeptical that the actions of an individual employee can damage the
reputation of an organization, just reflect on the hundreds of stories in
recent weeks about the impact of former reporter Jayson Blair on the
reputation of The New York Times. Granted that all media
outlets pounced on the woes at The Times following the revelation that Blair
had fabricated stories, and that may have compounded perceptions of a damaged
reputation. Nonetheless, executives at The Times found themselves in the
uncomfortable situation of admitting lapses in effective management. Here are
a few of the nuggets we gleaned from the coverage of this story. “Leaders
choose not to sweat the small stuff because they've been so successful for so
long, they disregard warnings that would trouble a less confident group. The
willingness to challenge the status quo and confront dominant but dangerous
assumptions are the hallmarks of thriving companies. When these qualities are
absent, even smart executives fail.” (From The Wall Street Journal,
May 20, the Manager’s Journal column) (http://online.wsj.com/article/0,,SB105339346632871500,00.html).
Times Publisher Arthur Sulzberger Jr. and executive editor Howell
Raines made statements and took questions at a town-hall style meeting of
the newsroom staff. “’I'm here to listen to your anger, wherever it's
directed,’ Mr. Raines said at the outset of the closed meeting, according to
a recording made by someone in the audience, ‘to tell you that I know that our
institution has been damaged, that I accept my responsibility for that and I
intend to fix it.’ He said later, ‘I was guilty of a failure of vigilance
that, since I sit in this chair where the buck stops, I should have
prevented.’ But Mr. Raines made clear that he viewed the session as something
more: a forum on his 20-month tenure as the newsroom's leader. During this
period the paper has won eight Pulitzer Prizes — six for its coverage of the
Sept. 11, 2001, terrorist attacks — but it has also been a time of
dissension. A growing number of employees have expressed deepening concern
about what is viewed as a top-down management style that, they say, could
have contributed to Mr. Blair's ability to do what he did undetected for so
long. ‘You view me as inaccessible and arrogant,’ Mr. Raines said, ticking
off a list he had compiled from his own newsroom interviews in recent days.
‘You believe the newsroom is too hierarchical, that my ideas get acted on and
others get ignored. I heard that you were convinced there's a star system
that singles out my favorites for elevation. Fear,’ he added, ‘is a problem
to such extent, I was told, that editors are scared to bring me bad news.’ (The
New York Times, May 15) (http://www.nytimes.com/2003/05/15/business/media/15PAPE.html).
We read in Business Week (May
23) (http://www.businessweek.com/bwdaily/dnflash/may2003/nf20030523_2615_db042.htm),
“Little can be done to keep yet another ingratiating fact-manufacturer like
Blair from sliming his way into a newsroom. That's because it has been proven
time and again that legitimate, law-abiding institutions are woefully
unprepared when it comes to preventing infiltrations by scam artists --
particularly those, like Blair, who seem to be doing it for kicks.” Holman
Jenkins commented in The Wall Street Journal (May 21) (http://online.wsj.com/article/0,,SB105347573017687600,00.html),
“the controversy is about something that we've long needed a controversy
about: racial neuroticism. … Why couldn't the Times tell it had a con man in
its midst? Had the paper's nearly gothic hang-up about race affected not just
news judgment but personnel policy?”
How sure are you that those you manage
are doing their jobs as you want those jobs done? How prepared are you and
your organization for being infiltrated by scam artists? Can Raines fix the
damage to The Times? Could you, if something similar happened to your
organization? What do you do that can create the perception that you don’t
want to hear bad news? What early-warning system do you use to identify
potential problems? How do you know whether or not you’re perceived as being
accessible? How do you know if employees think you play favorites? If you’re
the status quo, how willing are you to change?
Rabbit or Turtle?
Executives set the pace for the
organizations we lead, and we bring all our biases with us as we communicate
expectations. Sometimes, we prefer slow, steady progress; other times, change
never takes place fast enough. Those we lead tell us they want us to move
faster or slower. Rarely do we hear that the pace we set meets with universal
approval. Fast Company magazine sets its bias through its name,
preferring the speed version over any other. In the latest issue (June 2003)
(http://www.fastcompany.com/magazine/71/uptospeed.html),
there are 10 make or break questions
to see if your organization is up to speed, the Fast Company way:
1. Do you have an emotional bond with your customers?
2.
Does your strategy stand out
from the crowd?
3.
Are you a fun place to work --
and a fun organization to do business with?
4.
Are you built to change?
5.
Do you embrace the value of
values?
6.
Are you as disciplined as you
are creative?
7.
Are you winning the battle for
talent?
8.
Do you use technology to
change expectations and reshape your business?
9.
Are you built for speed?
10. Have you built
a company of leaders?
Read the article to find out what the editors mean by these questions.
See if the companies on their list are ones you want to emulate.
Does your organization need to move faster or slower to accomplish
its current strategic objectives? Can these ten questions be the right ones
for you to answer and improve your company? If not, what do you ask yourself
to determine if your pace matches the optimal way to lead your organization?
What do you do to speed up or slow down your organization?
Tinkle Tinkle
Sexism continues to create
barriers for women entering the top levels of companies, at least according
to Gene Epstein, in a Barron’s cover story (May 26) (http://online.wsj.com/barrons/article/0,,SB105372931761686700,00.html).
“Women last year accounted for one out of 13 clout positions --
executive vice president or higher -- in the 500 largest U.S. companies, up
from one in 40 as recently as 1995. Back then, only one of those companies
had a female chief executive officer; today, seven do. It's no longer a
question of whether women will be running a substantial share of corporate
America, but when. Barron's estimates that one in seven powerful posts will
be held by women by 2010, based on evidence that the trend is getting only
stronger. By 2020, it could be one in five. As all that unfolds, a chorus of
experts say, corporate culture will change for the better, becoming more
collaborative and less competitive, more inclusive and less elitist, and more
flexible in the way the work environment is run. And, they add, the workplace
will become more productive in the bargain. But there are still plenty of
challenges. Sexism at the top remains strong, many executives and observers
say. And some who break through may decide that the heady challenges of
working at the top are not worth the sacrifice of friendships and family life
that the jobs normally require. For that reason and others, the ratio of
women in jobs with corporate clout may eventually level off at one in three
rather than reaching the demographically equal one in two.”
How much glass remains at the ceiling of your
organization? Why? How do you gauge the rate of progress for women within
your organization? When women in your organization state their positions
clearly, do some view the statements as pushy or arrogant? Do you accept
certain behavior in men as positive, that you view from women as negative?
The Good Boss
One element of oiling the wheels
of change can involve an assessment of personal changes to improve
effectiveness. For bosses, that assessment can be hard to achieve. One way to
find out the characteristics of a good boss is to ask employees. That’s what The
Washington Post’s Amy Joyce did, and what she heard appeared in
the May 25 issue (http://www.washingtonpost.com/wp-dyn/articles/A33348-2003May23.html).
Here are the characteristics or qualities that employees want to see in their
bosses: be honest; treat people as individuals; communicate clearly; treat
people with respect; be consistent; and admit it when you make a mistake.
Once you know what those who report to you are looking for, then you can
decide how to become that boss for them. We read more advice in Fortune
(June 9) (http://www.fortune.com/fortune/articles/0,15114,450760,00.html)
from Al Gini, suggested that even workaholics benefit from vacations.
“…to do something well, you have to step away and not do it for a while.”
This vacation, try practicing the “not doing” part.
How do you measure up to these criteria
for being a good boss? How do your bosses measure up? How does your
organization support these qualities? How do you find out if these characteristics
hold true for your organization? When you step away, do you not work, or do
you never really get away?
Follow-up
Here are selected updates
on stories covered in prior issues of Executive Times:
Ø Readers of Executive Times since the first issue in
April 1999
may remember the lead story in that issue was about the difficult decision
leaders face, especially when following someone who did a good job before
them. You may be interested in reading the first article that points toward Jeff
Immelt of GE erasing the shadow of Jack Welch: Business
Week, May 9, “GE Investors saying, ‘Jack Who?’” (http://www.businessweek.com/bwdaily/dnflash/may2003/nf2003059_0620_db014.htm).
Ø We were ready to update readers about voting rights
and the Mall Wars between Taubman Centers, Inc and Simon Property
Group, as noted in the March 2003
issue of Executive
Times. We planned to report that a federal court ruled that
the Taubman family could not vote their shares, and it looked like the
shareholder vote to sell the company would be upheld. Instead, we report that
legislation has been proposed in Michigan to block the Simon offer.
Legacy
A New Form of Management
The profitable business of sports
marketing was created by Mark McCormack, who died in mid-May. Starting
with one client, Arnold Palmer, and a handshake, McCormack built a
global management business representing golfers, tennis players, classical
singers, even the Pope. A decade ago, Business Age said that
“McCormack invented the sports business. It was he who first realized that,
within the golden triangle of sport, sponsorship and television, lay vast
wealth, just waiting to be tapped.” And tapped it was. If you think athletes
are paid too much, you can thank McCormack for that. If you’re able to see
whatever sport you want, when you want it, you can thank him as well.
The
organization McCormack founded, and of which he was sole owner, IMG
(formerly International Management Group), typically receives 20% of
endorsement money, 10% of prize money and 3% of salary from its clients for
its services. With a vested interest in the level of compensation, IMG drove
up pay levels throughout the sports world. Sports Illustrated called
McCormack the “most powerful man in sports.” Here’s what McCormack said about
his legacy:
“As I reflect back on my own career, I feel
honored to have participated and been a part of the explosive growth of
sports on the global stage. While I remain indebted to the individual clients
with whom we have worked to create the sports marketing industry, I also feel
quite proud of IMG's contributions to the global growth of sports. All of us
at IMG are proud of what we have given back to sports and individual athletes
as we have worked collectively to bring the excitement and passion we all
feel about our heroes and teams to more people in each part of the world. We
are confident our efforts are challenging the next generation of superstars
to raise their performance to new levels. IMG will be there to help them in
their quests.”
Three of McCormack’s children work for IMG. Athletes around the world can
thank IMG for improving their quality of life, and their ability to compete
on the world stage. Business leaders can read McCormack’s many books to learn
some personal lessons about having a vision, and carrying it through to
fruition.
Latest Books Read and Reviewed:
(Note: readers of the web version of Executive Times can click on
the book covers to order copies directly from amazon.com. When you order through these links,
Hopkins & Company receives a small payment from amazon.com. Click on the title to read the review or
visit our 2003 bookshelf at http://www.hopkinsandcompany.com/bookshelf.html).
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Title (Link
to Review)
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Author
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Rating
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Review
Summary
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Purchase
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Oryx
and Crake
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Atwood, Margaret
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••••
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Tomorrow. Finely-crafted novel of what our world could become as we experience
the missteps of genetic experiments, corporate imperialism, the values of
games and media, and the ability of one person to make all the difference.
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What
Should I Do With My Life?
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Bronson, Po
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•••
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Glimmers. Bronson’s wandering the country to find out how others have
answered this question provide glimmers of self-knowledge for readers,
glimmers of newly discovered talents. Savor this slowly and listen for the
glimmers that may change your life.
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Washington
Schlepped Here: Walking in the Nation’s Capital
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Buckley, Christopher
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•••
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The Two Schlep. Informative, historically accurate, walking tours of
Washington, DC, peppered with a humorist’s élan and a fan’s enthusiasm.
Read our disclosures in the full review before you accept our rating.
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Getting
It Right
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Buckley, Jr., William F.
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••
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Origins. The roots of the modern conservative movement can be found
in the John Birch Society and among the followers of Ayn Rand. Buckley uses
the genre of historical fiction to tell readers what he thinks happened at
the creation. The portrayal of Alan Greenspan, who was a Randian, is a gem.
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Golf
for Enlightenment: The Seven Lessons for the Game of Life
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Chopra, Deepak
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DNR
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Lights Out. Our first exposure to a Chopra book left us wondering what
others find good about his writing. Take a pass, or just play through.
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Good
Business: Leadership, Flow and the Making of Meaning
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Csikszentmihalyi, Mihaly
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••
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White Hats. A respite from the business scandal books. From
interviews with executives who’ve done a good job, we learn how business
can be done well, and the hurdles that need to be overcome.
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Boy
Genius: Karl Rove, the Brains Behind the Remarkable Political Triumph of George
W. Bush
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Dubose, Lou
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•••
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Turd Blossom. Largely self-taught, Rove lives and breathes politics,
and has been right more than wrong in the advice he’s given. Read this book
and find out more about his nicknames and talents.
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Second
Spring
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Greeley, Andrew M.
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••
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O’Malley’s Return. Greeley reprises the crazy O’Malleys and sends
them to Rome in 1978 for two papal conclaves. Relaxing, predictable, and
entertaining with clean and wholesome intimate relationships.
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Of
Paradise and Power: America and Europe in the New World Order
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Kagan, Robert
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••
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John Wayne and Cheese-Eating Surrender Monkeys. Useful primer on the
basis of the current relationship between the U.S. and Europe. Made us want
to learn more.
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The
Pleasures of Slow Food: Celebrating Authentic Traditions, Flavors, and
Recipes
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Kummer, Corby
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•••
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Triple Treat. Atlantic columnist presents comprehensive introduction
to the global slow food movement, captivating photography, and a stewpot of
recipes.
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The
Company: A Short History of a Revolutionary Idea
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Micklethwait, John
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•••
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Company Brief. Breezy explanation and history of where companies
came from and the consequent benefits to society of this revolutionary
structure. Great respite from corporate scandal stories.
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That
Old Ace in the Hole
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Proulx, Annie
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•••
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Annie Got Her Gun. No more obtuse prose from Proulx. Funny, satiric,
absorbing story. Anti-big business, coming of age, community values.
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My
Anecdotal Life
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Reiner, Carl
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•••
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Yuks. Funny and poignant stories from Reiner’s life make readers
feel like we’re sitting across the dinner table listening to him relate anecdotes
that lead us to laughing or crying with him.
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Good
Faith
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Smiley, Jane
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••••
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Real Estate. Smiley immerses readers into the real estate boom of
the 1980s and the S&L debacle through a tale of the faith we place in
others and where than can lead us.
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Power
Failure: The Inside Story of the Collapse of Enron
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Swartz, Mimi and Sherron Watkins
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•••
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Living Large. Hubris, office politics, chaos, greed. At some point, we’ll
tire of the Enron rehashing, but Watkins’ involvement in this one caught
our attention, and lead to pleasure in reading the horrid tale.
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