20 steps to take after a project falls apart | How to harness the power of your unconscious mind | Interstellar-messaging service brought down to Earth
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August 28, 2013
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20 steps to take after a project falls apart
Bosses shouldn't downplay a failure or allow the team to shirk taking responsibility, because if employees don't care about failure, they won't care about success, Dan Rockwell argues. But after that, move on. "The goal is improving next time, not blaming and putting down," he writes. Leadership Freak blog (8/26)
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How to harness the power of your unconscious mind
Kellogg School of Management professor Loran Nordgren helped create the field of "unconscious thought theory," which suggests that people make better decisions when they avoid pure rationalism or pure intuition. That mix of approaches is particularly valuable for executives, Nordgren argues. "The decisions that executives make are invariably complex decisions where they have to weigh many different factors. ... These decisions are precisely the ones where unconscious thought proves particularly useful," he says. Strategy+Business magazine (free registration) (Autumn 2013)
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Amplify your social engagement Gamified, Oct 4, Bangalore
Marketers build channels that connect businesses with end users; ultimately the ones who drive revenues. End users must feel engaged with a business brand & philosophy before a relationship can come into existence. For marketers, identifying approaches to engage end users is a real challenge. Find out more & save up to $50 when you register before Aug 16.
 
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Interstellar-messaging service brought down to Earth
The startup Lone Signal, which beams customers' messages and images into space, has run out of cash and will likely shut down this week. The company charged 25 cents to send text messages via radio telescope to Gliese 526, a small star 17.6 light years away but couldn't cover its $400-a-day electricity bill or $10,000-a-month telescope rental. "We probably either should have been all free or charged a lot more," says CEO Pierre Fabre. Bloomberg Businessweek (8/27)
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The winning business strategy of counterfeiters
The global counterfeiting business is worth about $48 billion, and it's getting increasingly difficult for brands to stay ahead of the pirates. Attempts to crack down are complicated by the fact that many fake products are produced at the same factories that make legitimate products. "You can get into business at very low cost, and the penalties if you get caught are very small compared to other illegal activities," says Alan Zimmerman, a professor who has studied the issue. CNNMoney/Fortune (8/27)
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The Growing Role of Private Capital
The size and influence of private capital on the global economy today is staggering, and the resulting transformation is opening new investment opportunities — and new risks — for institutional investors. Learn more in PGIM's latest Megatrends research, The New Dynamics of Private Markets. Learn more
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Innovation and Creativity
Why innovative CEOs go to Burning Man
For $10,000, CEOs can now attend the Burning Man festival in style, staying in a luxurious camp complete with a Wolfgang Puck-trained sushi chef. Executives say attending the desert festival is a great way to recharge and to show their companies they're committed to innovation. A trip to Burning Man is the difference "between paying lip service to saying you want creative people in the company and actually showing that you genuinely appreciate creative people," says former Chrysler and Ford marketing chief James Schroer. Fast Company online (8/27)
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The Global Perspective
How a hockey CEO is taking over the local arts scene
As CEO of the Montreal Canadiens, Geoff Molson takes hockey seriously, but he's also branching out into the arts. The Canadiens' holding company, CH Group, is in talks to acquire a company that runs Montreal's French music and jazz festivals. "My goal in life is not to beat others. I am thinking we have a nice business here, so let's build it into a long-term success," he says. The Globe and Mail (Toronto) (tiered subscription model) (8/23)
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Engage. Innovate. Discuss.
Does your company need a constitution?
Some companies are creating constitutions based off the Magna Carta and U.S. Constitution to establish the performance and values expected from workers, writes S. Chris Edmonds. It's important to frame your expectations clearly and with specificity, and to amend the constitution as your firm's strategic goals change. "If your organization's work environment isn't always safe and inspiring, consider a new foundation: an organizational constitution," Edmonds advises. SmartBrief/SmartBlog on Leadership (8/27)
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Daily Diversion
Toe cocktail proves too tempting for American in the Yukon
The Downtown Hotel in Dawson City, Yukon, is famous for its "sourtoe" cocktail -- a shot of whiskey containing a preserved human toe. Drinkers are expected to touch their lips to the toe while downing the drink, but this week an American purposefully swallowed the toe along with the drink. The man was fined $500, and the bar is using a backup toe until it receives a donation. CBC.ca (Canada) (8/27)
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SmartQuote
Don’t give failure so much power that it turns out the lights."
-- Dan Rockwell, leadership blogger, writing at Leadership Freak
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