Leading with Restraint (FT Press Delivers Elements)

Figure 1: The Dimensions and Elements of Character. 3. Table 1: Impact of Character Strengths on Leader Behaviour. 4 . Demonstrate restraint. - Have an . Note: View this report on your computer for links to all of the media resources. . Motivates Us RSAnimate ft. Daniel Pink . Reliably delivers on.
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So, I give up. I hereby join the parade of those who say, "Enough. This impairs the performance of both the top management team and the organization as a whole. Robert Sutton, professor of management at Stanford, recently said in an interview that new research is coming out that suggests that the bigger the difference in pay between the CEO and next top three people of that management team, the worse that firm performs. The problem is that is disproportionately more. But, how should that compensation be determined? Perhaps compensation should be linked to defined earnings performance goals?

Should a highly qualified CEO get what the market is willing to pay? Should a wise CEO place a self-imposed cap on their compensation for the good of the organization and the market in general? Powered by Movable Type 3. Leading Blog Main Page In it was reimagined as an online shopping festival.

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It is now the biggest shopping event in the world. In , Black Friday and Cyber Monday saw less than 3. Instead, Alibaba is what you get if you take every function associated with retail and coordinate them online into a sprawling, data-driven network of sellers, marketers, service providers, logistics companies, and manufacturers.

Zeng summarizes the formula for smart business with this simple equation: Success is strength in both networks and data. Impossible for humans, this level of interaction is the essence of network coordination: Data intelligence is what I call this business capability of effectively iterating products and services according to consumer activity and response. Under this approach, companies will use network coordination to achieve value, scope, and scale greater than that of their competitors and will deploy data intelligence to make their business smart enough to adjust nimbly to changes in the outside environment and the minds of consumers.

Smart business then, is when all participants involved in achieving a common goal are coordinated in an online network and use machine-learning technology to efficiently leverage data in real time to generate relevant responses. A case in point: In , she prepared to sell a batch of 15 new clothing items at 3: Ten of thousands so of fans are waiting for the sale to begin having already seen previews of this sale on social media. She expects to sell several thousand items but has only had pieces in stock—total. Within one minute, everyone one of the fifteen clothing items sells out.

Now preorders are sold. Linchao has created an on-demand business—but at mass production price points. What is remarkable is that she finds her customers on social media, keeps almost no inventory, and owns no factories. Yet the customer has the product in 7 to 10 days. The business model is efficient and responsive. Smart businesses like LIN and many others rely heavily on machine-learning technology to achieve scale and manage complexity.

Routine decisions are made automatically by machines driven by data. What Does this Mean for Organizations? The Creativity Revolution is here. Organizations in the Creativity Age will focus on creativity and innovation. It is a vacuum sucking up information about its environment and then generating and coordinating effective responses.

The job of leadership is not to manage this experiment, but to make it possible and boost its success rate. Through enabling mechanisms, management provides the necessary conditions to tackle business problems through innovation as opposed to the execution of tried-and-true procedures. To do this you need a strong culture and the people that fit that culture. Their job is to sniff out the match between candidates and the strong corporate culture.

At the very least it will expand your perspective. Zeng details the principles and practices that companies need to become smart businesses and the implications to the organization of those implemented principles and practices. Singles Day is an example of what is possible when networks and data are brought together at the same time.

Unimaginable scale is possible when businesses are smart. They get clunky and myopic. They fall into patterns of inertia. And, in time they fail. But there are signs. In Transforming the Clunky Organization , Samuel Bacharach takes on the two fundamental sources of organizational inertia —the tendency to be clunky and the tendency to be myopic.

The clunky organization is characterized by a state of organized anarchy. This creates a general lack of focus. People are focused on their own activities but are not attentive to the activities of the whole. The clunky organization is missing the big picture. The myopic organization is characterized by an addiction to their past successes and behaviors as a result they find it difficult to make adjustments.

Most organizations face a little of both and it can vary from one organizational issue to the next—one department to the next. There are some questions you can ask to conduct a self-assessment. Questions related to the clunky organization would include: Are the business units integrated? Are the lines of decision-making authority clear? Is there ambiguity or a lack of goal alignment? Do competing agendas lead to turf and silo issues? Is the organization driven by one product or mindset? Is there centralized control of organizational mission and processes? Is it difficult to convince others to explore new directions or new opportunities?

Is there a risk-adverse mind-set? In other words, they must be able to read the signals and take action to bring those innovations to life. Engaging in robust discovery and focused delivery requires certain skills on the part of the leader as outlined below: Robust Discovery To assure robust discovery, leaders must master the contextual competence of explorers and the ideational competence of innovators. To explore, they must scan the environment for useful information, read signals, and create partnerships.

As an explorer, a leader looks for signals that the organization needs to adjust or to move in a new direction. Leaders should not just be scanning the familiar sources, but should also diversify the content they consume on a daily basis. If not, the tendency is to simply reinforce what we think we already know.

Some signals need to be acted on immediately, others need to be thought through. What needs to be done? The weak signal asks, What does this mean? Focused Delivery To assure focused delivery, pragmatic leaders must master the political competence of campaigners and the managerial competence of sustainers. The important second half of the solution to breaking inertia in your organization is implementing the new agenda and seeing it through to get the desired result.

Ideas themselves are rarely threats. When the myopic tendency is in play, the fear of losing face or the security that comes from habit will cause many leaders to retreat into accepted business models and the old ways of doing things to preserve some semblance of safety. Leaders must always be willing to seek out signals that old agendas need to be changed to regain organizational momentum. Ultimately capitalism is about personal responsibility, ownership, and commitment. That can be hard to swallow in an age that encourages entitlement. Ken Langone , the now-billionaire co-founder of Home Depot among other accomplishments, wrote a book titled, I Love Capitalism!

Of course, he loves capitalism. Blacks and whites and browns and everyone in between. Absolutely anybody is entitled to dream big, and absolutely everybody should dream big. Show me where the silver spoon was in my mouth. Neither of them ever got close to graduating from high school. My mother dropped out in the seventh grade. And maybe you lower your sights, but you get on a ladder. There has to be something inside you to make you push. Langone had help along the way.

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His economics professor took him aside and told him that if he applied himself and work hard, he would talk to the other professors on his behalf. What do I do? I think there couldn't be a more lonely existence to not have at least one person in your life, at any one point in time in your life, that you couldn't pick up the phone or you couldn't go see and say, "Hey, what do you think? My father had a wonderful expression.

He said if you want to have a friend, you got to be a friend. So maybe that fellow wants to take a step back and ask himself the question, what has he done to nurture those kinds of friendships and relationships?

Smart Business is Business Redefined

Some guys who get wealthy like to brag about being self-made men. To make that claim, would be to commit a grave sin against all the many, many people who helped me get to where I am. He found work that gave him experience and trained him to better understand and expand his interests and talents. I would look in the most superficial way at the companies whose stocks and bonds I was selling: I never truly understood how those businesses worked.

Supply and demand goes through everything in life. Without that lesson, I would have felt subservient toward these muckety-mucks, but with that lesson under my belt I felt completely equal to anyone I dealt with. I never bought a pencil without an eraser on it, and God invented erasers on pencils for people like me. Too many people measure success the wrong way. Money should be at the bottom of the list, not the top. What a tech company needs to do during the precious period when it has product exclusivity is spend a lot of money to obsolete itself.

Arrogance is the enemy. For many years, Bernie Marcus and I never, ever went into a Home Depot store—never once—unless we were pushing carts in from the parking lot. I used to pray I would see a piece of trash on the floor so I could pick it up. There are entry-level tasks for the kid who works in that store. But it takes a little bit of humility. What distinguishes the winner from the losers is the ability to turn adversity around: In Stop Selling and Start Leading , the authors report that buyers what sellers who create personalized value and build bonds of trust, sellers who provide a meaningful and relevant experience, and sellers who demonstrate genuine leadership.

Your buyers want you to inspire and motivate them while giving them an opportunity to participate in creating something extraordinary. They want you to collaborate with them, strengthen them, and encourage them in the process. This book demonstrates how to change from a selling mindset to a leadership mindset that buyers want. Using the Five Practices of Exemplary Leadership they found that sales effectiveness, like leadership effectiveness, can be significantly increased by choosing to behave differently. Without a doubt, leaders are always selling. Briefly the Five Practices are: Model the Way The first step is getting in touch with your personal values and beliefs.

It an inside job. Selling from who you are will give you credibility. Translate the solution you are selling into benefits relevant so the buyer so that they can clearly see themselves a part of it. They are always looking for ways to improve and challenge the status quo. Take the initiative to find dissenting and diverse views. Sellers often have a preconceived notion of what product or solution will work best for a buyer. Buyers want to share control of the sale. It makes them feel trusted, informed, and empowered.

Thank, recognize, and encourage your buyers. Recognizing them increases your chances of seeing more of the same. Along with all of the other freedoms granted to its citizens, the freedom to risk and to fail encourages our culture of innovation and entrepreneurship. Entrepreneurship has never seemed so popular as it is today no doubt because it is easier than ever to start a company. Especially in the tech sector, barriers to entry have fallen, and there is greater access to risk capital for startups.

But with the implied success is a dark side that is rarely talked about. Sheryl O'Loughlin tackles this head-on in Killing It! Sheryl who has taught entrepreneurship at the Stanford Graduate School of Business understands the ups and downs of being an entrepreneur. Many people start a business without really knowing what they are getting into. Starting a business for money is a bad bet since around 95 percent of startups fail.

You do that by inviting others to be part of the story. You and your team need to live the experience your customers have with the product. You need to be a leader that models love, compassion and care and hire people that can do the same. At the same time, love can blind you to realities. But we do have weaknesses. We need to talk to each other. Too often we approach our work from a mind-set of scarcity and not one of abundance—a mistake that holds us back. Friendships Hang on to your friends. Entrepreneurs can easily become myopic. Being a friend or a family member forces you to take on that identity.

Being a friend offers a buffer against narcissism and obsession. Choose a friend you trust and open up to him or her. Write down a list if your greatest fears with your business and share them. The entrepreneur will that the resources when they are there. Would you go climbing without the proper gear? Entrepreneurship is about minimizing risk. Most ventures will fail. Is money becoming your identity?

Your self-worth is probably the most important message of her book. You have to have resilience, and you have to know that you can fall down, get back up, and wipe yourself off, aware that deep down you are okay. And most entrepreneurs would do it all over again. But if you know up front the dark side of entrepreneurship, hopefully, the journey will end up happier and healthier for you. Before you start a company, think of entrepreneurship in terms of your life as a whole. Invest in your wellbeing. But in every aspect of my life—building businesses, raising a family, embarking upon adventures—I try to do things for the first time every day.

In Finding My Virginity , Branson shares his ups and downs in his entertaining, candid style. We all have ups and downs, trials and tribulations, failures and triumphs: Work Fast Generally, we like to work fast: I work best when my mind is able to jump from one topic to the next in quick succession. They speak categorically and then close their ears. I consider myself a good listener and apportion a good deal of my success—not to mention my marriage—to this.

Some entrepreneurs surround themselves with brilliant people and then ignore them. Most people who behave in this autocratic way get their comeuppance. I know I am not better than anyone else, so I take a different road. Value of Entrepreneurs It may be controversial to say it, but there is no job more important than being an entrepreneur.

When you analyze everything about the world and all the improvements that get made, almost without exception, it is an entrepreneur that has made them. It might be an entrepreneurial doctor, or architect, or artist—anything. While business may have changed from when I started out , the principles are the same and still fit what I am good at: Once an entrepreneur, always an entrepreneur. Invest in People What I am good at is coming up with interesting ideas and then finding amazing people to turn them into reality.

I see investing in start-ups in the same way. They stayed in a sector that had died, whereas Virgin was always one step ahead of the game. My worry is that people will get bored of onions and move on to carrots instead, putting your onion out of business. No matter what is happening in my business life, regardless of what situation my companies are in, somewhere in the back of my mind I will be mulling over a new idea. I like to think it is my curiosity and thirst for fresh inspiration.

I think entrepreneurship is our natural state—a big adult word that probably boils down to something much more obvious like playfulness. When we are young, before we have our childlike wonder beaten out of us by adult life, we are at our most inventive and ambitious in our actions. Tell Stories Having the facts on your side is one thing, but telling a great story with just enough charm and chutzpah can make all the difference. Get Help Asking for support is a strength, not a weakness. Making lists is both a way of remembering things and of ticking off achievements to make progress.

Without notes and follow-ups, chances are nothing would get done. I edit as I go along, and follow up with dates and tasks in order of importance. People in charge should empower their employees, not scare them into silence. Value People I have always thought it refreshing, and sensible, for leaders to get right among their people. That way you get to know them, hear their ideas, build stronger ties and create relationships in a way you never can sealed off behind a closed door.

I wish more businesses really did run like families. When things are going well, everyone has an even better time celebrating together. When things are tough, you can rally around and help each other get through it. Making It Work Sometimes it is necessary to pivot a business into a new idea, and wait for another opportunity. Leadership The way to become a great leader is to look for the best in people—seldom criticize—always praise.

As we progress through our careers, keeping a truly open mind becomes increasingly difficult. Real problem solving comes when we allow the experience of others room to inform our thinking. I know that my own obstinacy has sometimes prevented me from seeing a better way forward. Some years ago, I was presented with the opportunity to hire an exceptionally talented individual. There was no open position that aligned with the individual. But make no mistake, this was a true talent and a good person.

Rather than crafting a role that made sense, I tried to force a fit. At the time it seemed like the right approach — we had an opening that this person could fill, and over time we could have expanded the role. Instead, I let short-term tactical thinking cloud my execution.

I have also found that remembering your own frustration when others are not open to your input helps you put aside your own prejudged ideas aside to allow others to contribute. This is not to suggest that all decisions should be made on the spot without properly assessing data and input. Rarely is the no decision the right decision. I can think of a time when I allowed myself to delay making a decision that I knew needed to be made. I had done the needed analysis and knew what the right call was, but because it was an exceptionally tough — and impactful — call to make I put it off longer than I should have.

I needed to make a staffing change that would significantly shift responsibilities away from one person. This was someone who had made a positive impact but who had, over time, become less effective in his role. The change would be difficult for him personally and financially, and carried with it some risk of fallout in other areas of the organization. Ultimately the call got made and proved to be the right one, but the delay had a cost. Call it the legacy question. I have been blessed with the ability to provide for my family, and am proud of the hard work I have done in my career.

But I am most proud of the times I have been able to assist someone else in their development — both professionally and at times personally. It became clear to me that he was not realizing his full potential — mainly because he had not received enough guidance or support in order to be successful. He was very responsive to being challenged, to see beyond the tactical aspects of his role and embrace a more strategic one.

As a result, he transitioned from being a capable contributor to a leader. He needed strong backing initially to help counter some very strong personalities who carried more senior titles. One of the basic tenets of product management is that it is better to solve one problem completely than address multiple ones partially. This holds true beyond the realm of the product manager. It conveys business, which is often equated to importance, and suggests competence. Time slicing does not sound nearly so positive. It communicates that only a fraction of our time and attention is being devoted to a task.

Multi-tasking and time slicing are, in fact, one and the same. There are so many approaches to task prioritization. Find the one that works best for you. Resisting multi-tasking is an everyday challenge. This is a lesson I need to relearn whenever I catch myself giving in to the temptation to time slice. There are decisions we must make and problems we must address. But teams exist to share that workload. Trust your teams to execute. One of the most self-aware people I have worked with builds teams with people who are strong in areas he is not.

One of the benefits of this approach is that he knows he can rely on his team to address challenges and attack opportunities that he cannot.

Lead Team to Set Ambitious Goals

An honest accounting of our own strengths and weaknesses is a difficult, but beneficial task. Getting input from others we trust can be of great value. Knowing what to overlook also means knowing what not to overlook. I have learned that the number one thing not to overlook is attitude. The presence of a negative attitude has persistent harmful effects. Understanding and addressing the causes of a poor attitude can work wonders to overcome this.

But there are times when negativity outweighs whatever contributions a person makes—and he has to be removed in order to preserve the organization. He is CEO of Veriato , which provides employee monitoring and behavior analytics software for companies of all sizes and industries in more that countries around the world.

He has a diverse background covering sales, operations, marketing, and product management. Follow Mike on Twitter: S MART used to be a quantity game. I get more things right. The new smart is about quality. Specifically, the quality of your thinking, your listening, and your relating and collaborative skills. Those skills, while uniquely human, are not what we are typically trained to do and require a deal of messy personal development. We will need to become better thinkers, listeners, relators, and collaborators, while working to overcome our culture of obsessive individualism in order to thrive in the SMA.

Humility is the mindset that will make all of this possible. In short, say the authors, we need to acquire and continually develop four fundamental NewSmart behaviors: Quieting Ego Quieting Ego has always been the challenge for us humans. Managing Self—Thinking and Emotions We need to get above ourselves to see ourselves impartially. Otherness To create these new behaviors and mindsets, it should become obvious that we need to enlist the help of others. It means creating opportunities for people to connect and build trust.


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He credits his parents with handing down to him values that have served him well in life. He is the son of Jewish immigrants who fled Poland in to avoid the Holocaust. His parents provided Zell with a different perspective than his friends. They were given a bigger-picture orientation. It was to be a defining characteristic of his life. As long as you know where everyone else is, you can play the game. It means not sticking to assumptions that limit your opportunity. The fact is, I am eclectic, and the fun of my life is being able to gain access in new arenas. Keep it Simple I stay true to the fundamental truths: They offer a framework through which I view potential opportunity.

Problem solving is my passion. Breaking issues down to their barest elements, simplifying them. After that, experience makes the difference—doing it again and again until it becomes distinctive. Experience builds discipline and insight that sometimes allows you to see over the abyss before you step into thin air. It is a matter of organizing your thinking.

I am always questioning, always calculating the implications of broader events. Recognizing the psychology of market extremes can lead to attractive points of entry. Any event or pattern out of the ordinary is like a beacon telling me some interesting new opportunity may be emerging. It means not being less than number two in any industry, and referable being number one.

Ethics are a cornerstone. I have always known that success for me would be guided by principles. And the way you get to the next deal is to lay it straight. But I want to create an environment where everyone wants to keep playing. In business, people always want to know who you are—in other words, will you do what you say, will you make a reliable partner?

Reputation is your most important asset. Prize Loyalty I believe loyalty defines your character. Do you consider their circumstances as much as you consider your own? As you can imagine, for someone in my position, loyalty and trust are priceless commodities. And they go both ways. Ego and pride have their places, but when they are not self-regulated, they can be detrimental, if not debilitating. But for me the Eleventh Commandment implies something more.

Go All In The minute you acknowledge that a problem is insurmountable, you fail. I equate this fundamental truth with an entrepreneurial mind-set. In my world, I call that being an owner. An entrepreneur is always looking for a new opportunity. But whatever you decide to do, invest everything you have in it— excel. Partner for greater value for more players. In The Reciprocity Advantage , authors Bob Johansen and Karl Ronn state that the next competitive advantage will be reciprocity advantage.

Reciprocity and advantage will spark new business models for innovation and growth. In a reciprocity-based model, I give you something, and at some later point in time, I trust that I will learn how to get even more value back in return. A reciprocity advantage is delicate to achieve and maintain. Uncover Your Right-of-Way Your right-of-way is the space within which you can create your reciprocity advantage. Uncovering you own right-of-way involves understanding that every company is really in three businesses: Product, Service, and Experience. Which of your assets have value for others and could also help you create complementary business growth?

Essentially, what underutilized assets could you give away now that would yield greater value later. The first step is to reassess your strengths to find those underutilized assets. Access to these assets is the right-of-way that will be the basis for your new partnerships. You begin by defining your core business. This is where you will find the right-of-way assets you can share. Not all should be shared. You must do this inventory and then decide later what to keep and what to share.

Then reinvent your business as a service. The rights-of-way that your core needs to survive disruption are not to be shared. This would hurt your business. Instead, invest to prevent long-term obsolescence. Finally, redefine your business as an experience. Having attained clarity on what you do as a service, focus on the users of your service. What are you being hired to do? The rights-of-way that enable this are the core of the new reciprocity business. Find the Best Partners Partnerships are hard. In a VUCA World, partnerships are hedges against risk, but they will also be more attractive ways to innovate and grow scale.

The best partners will demonstrate their worth by looking out for one another, thereby protecting themselves over time. Learn by Experimenting Prototype, listen, learn. Give away assets intelligently in order to learn how to create value in new ways. The goal is experiment to learn in an open, low-cost, and repetative way that allows for time to discover which questions to ask. How can you and your partners learn how to make money in new ways within your right-of-way?

Scale It Creating your reciprocity advantage will allow you to make a big difference for a long time. Reciprocity is good, but massively scalable reciprocity is growth that reshapes industries. All the benefits of Digital plus: Join our premium subscribers with unrestricted digital access plus the FT Newspaper delivered to your door. All the benefits of Premium plus: Learn more and compare subscriptions. Close Financial Times International Edition. Search the FT Search. The latest sensor technology supports automated and inherently covert operation down to ft.

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The package also includes an inertial navigation system with GPS. In addition, the navigation system features integrated lateral cueing and vertical commands, ensuring safe manoeuvre with 3D situational awareness. The flight control system FCS is a full authority and quadruplex digital system which allows carefree handling and manoeuvring in all situations. Its intuitive operation is designed to enable the pilot to concentrate on the tactical tasks and to fly the aircraft 'head-up' in combination with the HOTAS Hand-on-Throttle-and-Stick concept applied to cockpit design.

Automated Emergency recovery features have also been embodied in the system design to ensure maximum safety of operation. The MIDS high capacity digital information distribution system allows secure exchange of real-time data between a wide variety of users, including all the components of a tactical air force and, where appropriate, land and naval forces.

Soon the METEOR advanced long-range missile will provide the largest No Escape Zone of any Air-to-Air weapon, resulting in a long stand-off range and high probability of interception to ensure air superiority and pilot survivability.

The Aircraft

Guidance is provided by an active radar seeker with mid-course updates via data link. Eurofighter Typhoon has also been upgraded with Paveway IV to provide high levels of operational flexibility. The combat proven dual-mode guidance system, coupled with height of burst and penetrating capability, enable the decision of target engagement to be made right up to the point of release. Eurofighter Typhoon will see the constant integration of new, smart weapons in accordance with the demands of current and future customers.

For pilot comfort and optimum performance capability, Eurofighter Typhoon uses computer controlled anti-G and breathing support technology. The simplified combined harness allows unassisted strap-in, and the passive leg restraint system avoids the need for the pilot to wear restraining garters. A second generation electronic sequencer is also incorporated. Reliability and maintainability are key elements of the design, with full access to in-cockpit components.

Normal access to the cockpit is through either a telescopic integral ladder or an external version. The integral ladder is stowed in the port side of the fuselage below the cockpit. Throughout the aircraft flexible couplings connect the fuel pipework built into the three main fuselage sections and wings.

These provide a simple method to connect the fuel tanks, which all have fuel-flow proportioners to maintain the centre of gravity alongside relief valves to maintain air and fuel pressures. The intelligent computer-controlled fuel system ensures long-range, flexibility and safety. Go to the top The Airframe.


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Eurofighter Typhoon specifications Max speed Mach 2.