Strategy? Forget All You Know!

Below are seven pieces of advice I give to business leaders based on strategy practices of the most successful ones I know. Whenever I discuss these in an open forum, there is always pushback from at least a few people, particularly in Japan. Some people are even offended! That’s OK.

If I am doing my job correctly, at least some people should be made to feel uncomfortable.

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Incentive Pay Doesn’t Work

If I offered you more money for results, would you change anything that you are doing now?

I have asked this very question to numerous successful CEOs, and invariably the answer is no. I suspect yours is as well.

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Big Consequences of Tolerating Small Infractions

Illicit and unethical behavior should never be tolerated, even if the impact is small. For example, if a manager is padding company expenses for personal gain, you really have no choice but to fire the manager, even if it is for less than a few hundred dollars per year. That can be a hard decision to make when the manager’s performance is high, such as a top salesperson, but it is the right decision.

It is a matter of judgement and leadership of the manager rather than a cost-benefit analysis of the infraction.

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