Genius – The Price

“A disruptive innovation is a technologically simple innovation in the form of a product, service, or business model that takes root in a tier of the market that is unattractive to the established leaders in an industry.”
Clayton Christensen
Author, The Innovator’s Dilemma

The Price of Genius

In the disruptive market places we all operate in, innovation is a key aspect of surviving and thriving. The problem is CEOs are understandably risk averse and seeking order amidst the chaos of commerce. Innovation is a messy process. Is it worth it the risk?
Stanford Business School professor Bill Barnett offers some insights about the expectations CEOs should have about the creative process. He writes. “Creativity is not about eliminating error. Creativity’s payoff is the occasional burst of genius – and you don’t get that by eliminating error……. Systems that sometimes give us the rare genius also give us a lot of foolishness along the way. “

If you have C-Level responsibility, this article is a must read. Take a minute to read his short blog posting and get a better sense of the “The Price of Genius.”

Turning “Oil for Old Ladies” into Gold.

While we’re on the topic of innovation…..a little foolishness (above) may be necessary for innovation, but it’s realization still requires a decision, usually by a team. Former Proctor and Gamble CEO A.G. Lafly found a way to leverage the strength of a team regarding decision-making while avoiding group think and other perils when a team of people work together. This short article from Chief Executive magazine shares how Lafly reached back four centuries for a decision making process born in the Renaissance that has changed our world and continues to do so.

An example is how a tired product in the P & G portfolio, “Oil of Olay” had acquired the derisive moniker in the marketplace of “Oil for Old Ladies” and was associated primarily with older women and declining market share. Lafly’s team had to resurrect this product or pursue the only other alternative: spend billions on a brand with broader appeal. Lafly challenged his team to use the process he had adopted. As the article shares, (Lafly’s )”strategy process worked, and today, Olay is a multi-billion dollar brand that caters to upscale younger women through mass distribution channels.”
Spend a few minutes to learn how P&G Found A 400-Year-Old Renaissance Secret For Making Better Decisions.

The Seven Exit Signs at Your Company

The War for Talent has several battles. One requires that we attract and hire great employees. Another is that we retain them. As regards the latter, do you REALLY know why great employees leave you?
A good place to start answering that question is to look at why and how employees leave you. A short article from HBR Do Your Really Know Why Employees Leave Your Company? will help you analyze the resignation letters you’ve received over the years by sorting them into seven categories; perhaps yielding some insights as to why they left, and how you can use this information to improve retention.

5 Things She Wish She Knew Before Becoming a CEO

It’s been said that “History offers lessons, not rules.” Check out “Authority Magazine” for some very interesting interviews with leaders from all types of organizations and lessons they learned on the way to success.. CEOs will benefit from the reflections of Elizabeth Gerbel of EAG Oil and Gas Services who offers “Five Things I Wish Someone Told Me Before I Became a CEO” including (shameless self-promotion alert!) the importance of her Vistage group to her success.

Econ Recon:

The 4% Solution: The second quarter GDP came in at a disappointing 2.2 T%? Many are focusing on the Fed Rate cuts as being insufficient to keep the economy going. Economist Brian Wesbury is disappointed in GDP Growth as well, and he also points to the government as a reason, but its not the Fed he blames. He thinks a much higher growth rate is possible. Find out what he thinks the 4 % Solution might be.