What a college basketball coach learned from management books | Are you a leader or a baby sitter? | Why Trader Joe's succeeds by paying its workers well
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March 21, 2013
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What a college basketball coach learned from management books
University of Miami men's basketball coach Jim Larranaga loves to read management books such as Stephen Covey's "Seven Habits of Highly Effective People," from which he regularly quotes to his players. That's led Larranaga to adopt a meticulous, data-driven training style underpinned by a carefully groomed and unusually structured coaching team. His structure "provides for a highly integrated coaching style that gives the team's leaders a greater view into the skills and weaknesses of more players," writes Jena McGregor. The Washington Post (3/18)
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Are you a leader or a baby sitter?
Too many bosses prefer to control their employees rather than empower them, writes Mike Myatt. That's a telltale sign of leadership dysfunction, and it makes it hard for workers to achieve their potential. "Leadership has become synonymous with babysitting in many organizations, which does nothing more than signal a lack of trust in the workforce," Myatt writes. Forbes (3/21)
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Have an Appetite for Sustainability—and Success?
Join chefs and CEOs and taste the future of food with The Culinary Institute of America and Harvard this June in Cambridge at Menus of Change™. Eminent scientists, nutritionists, environmental stewards, and renowned chefs will offer guidance on food choices that will insure a healthier planet and a sustainable future for your business. menusofchange.org.
 
Strategic Management
Why Trader Joe's succeeds by paying its workers well
QuikTrip's gas stations and convenience stores pay their cashiers almost double the $20,230 that U.S. cash-register workers earn per year on average. That's making it easier for the retailer and others such as Trader Joe's to retain and train workers, turning them into assets to be maximized rather than costs to be minimized. "Trader Joe's and QuikTrip are proving that lower-level employees can be assets whose skills improve the bottom-line as well," writes Sophie Quinton. National Journal (3/20)
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Companies have bags of cash, report shows
In 2012, American firms had cash reserves of $1.45 trillion, up 10% from the previous record of $1.32 trillion held in 2011, according to a Moody's Investors Service report. More than two-thirds of that cash is outside the U.S., where companies can shield their money from taxes and investors, many of whom are clamoring for dividend payments. Los Angeles Times (tiered subscription model)/Money & Co. blog (3/20)
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Innovation and Creativity
Do your employees need "Get Out of Jail, Free" cards?
To persuade the 9,000 employees at Extended Stay America to start taking risks, CEO Jim Donald issued all of them a Monopoly-style "Get Out of Jail, Free" card. Anyone who took a big risk on the company's behalf could cash in their card to avoid repercussions if things went wrong, he explained. That's spurred many managers to try out ideas -- some good, some bad -- and to generate business along the way. The Wall Street Journal (3/20)
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Make "mistakes and failures" your watchwords
Good innovators need just two words -- "mistakes" and "failures," writes Howard A. Tullman. It's important to allow people to make mistakes, and to seek to understand how failures can eventually lead to successes. "Understanding and discussing these two ideas correctly in every conversation about innovation is crucial to your focus, clarity and momentum," Tullman writes. Inc. online (free registration) (3/19)
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The Global Perspective
Golden parachutes? Time to cut the strings, say European leaders
Europe's CEOs are used to receiving big salaries, exit bonuses and other perks, but the continent's political leaders are planning to put an end to the largess. The Netherlands wants to limit golden parachutes to just €75,000; France and Spain are increasing taxes on exit bonuses; and Germany is also seeking to rein in executive pay. "Exorbitance cannot be allowed in a free and socially minded society," said German Chancellor Angela Merkel. The Atlantic online (3/19), Der Spiegel (Germany) (English online version) (3/13)
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Engage. Innovate. Discuss.
How can leaders also be good followers?
Good leaders know how to incorporate followership into their leadership, writes Mary Jo Asmus. That means accepting coaching from anyone who can do something better than you, making everyone around you comfortable in your presence and welcoming good ideas from any source. "Great leader-followers are wonderful role models, moving seamlessly between leadership and followership as the [occasion] demands," Asmus writes. SmartBrief/SmartBlog on Leadership (3/20)
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SmartBrief At The Event
6 ways your company can behave like an entrepreneur
Entrepreneurial behavior can be learned and developed, with the benefits evident to organizations and their employees, says Babson College President Len Schlesinger and entrepreneurial-studies professor Heidi Neck. They offered six tips for companies to encourage and develop employees, including permission to fail without being scapegoated. "If organizations want employees to experiment and be entrepreneurial, they need to protect a worker's reputation when not every idea pans out," Brooke Howell writes. SmartBrief/SmartBlog on Leadership (3/21)
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Daily Diversion
Victoria & Albert not amused by Napalm Death
London's Victoria and Albert Museum has scrapped a plan to host a concert by metal band Napalm Death amid fears that the group's raw power might harm the historic building. The move robs metal fans of the chance to hear the "grindcore" band at the storied museum. Reuters (3/20)
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Who's Hiring?
Position TitleCompany NameLocation
Associate Medical DirectorUCareMinneapolis, MN
Director of Industry Initiatives (Audio/Video)Interactive Advertising BureauNew York, NY
Vice President/Chief Counsel - Market Oversight - NYSE RegulationNYSE EuronextNew York, NY
Chief Partnership Officer Global Business School NetworkWashington, DC
OS Chief of StaffMicrosoftRedmond, WA
Chief Financial OfficerNutrisystemGreater Philadelphia Area, PA
Vice President, Network Development and Provider RelationsLouisiana Health Cooperative, Inc.New Orleans, LA
Click here to view more job listings.
 
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SmartQuote
Organizations are not entrepreneurial; people are."
-- Heidi Neck, professor of entrepreneurial studies, as quoted at SmartBlog on Leadership
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