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"Concentration is the key to economic results… Economic results require managers concentrate their efforts on the smallest number of products, product lines, services, customers, markets, distributive channels, end-uses, and so on, that will produce the largest amount of revenue." —Peter F. DruckerEditor's Note:To dominate you have to...Full Article »
So many large corporations think gobbling up a young, fresh startup is their ticket to disruption. For instance, the New York Times reported that Walmart recently purchased Bonobos, an online men’s apparel company founded in 2007, for $310 million. This deal size is a pittance compared to last year when the retail chain paid $3.3 billion for...Full Article »
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This is Part 2 of a series on why managers of any organization should have a firm grasp of data literacy. For Part 1, see here.Editor's Note: There are many scientific approaches for finding the root cause of a problem, be it in government, business or elsewhere in life. In this article, we present a simple (but not simplistic)...Full Article »
This is Part 1 of a series on data literacy for managers. For more, read Part 2.For any manager looking to flex their leadership acumen, he or she must not only be able to read data, but have the ability to detect the forces that skew the accuracy of its results as well. Many journalists are not ever aware of it. Neither is corporate America...Full Article »
No one can guarantee the performance of a manager or executive appointed to a new position.Indeed, if the reports and surveys we are constantly bombarded with are correct, we can safely say most executives make poor promotion and staffing decisions.By all accounts, about one-third turn out to be right, one-third are marginally effective, and one-...Full Article »
Peter F. Drucker, in his book Managing for Results, pointed out: “What the people in the business think they know about customers and market is more likely to be wrong than right.” So he suggested this remedy: “Only by asking the customer, by watching him, by trying to understand his behavior can one find out who he is, what he does, how he...Full Article »
Editor's Note"The purpose of a business is to create and keep a customer."With these 12 these words, Peter F. Drucker introduced to the world what has become known as the marketing concept, that is, "find wants and fill them."More specifically, Drucker made two profound statements: one about the corporate purpose, its essence and its goals;...Full Article »
In the competitive world of business, ineffectiveness inevitably shows up on the profit and loss statements and balance sheets of any type of institution, be it a business, university, or government agency. The only test of management that matters is performance. Either management performs or it doesn't. More than 30 years ago,...Full Article »
Editor's Note: In a 1988 Wall Street Street Journal entitled Leadership: More Doing Than Dash, Peter F. Drucker demolished the notion that effective leadership is linked to charisma.Jean Lipman-Blumen in The Drucker Difference (McGraw-Hill, 2010) penned a beautiful chapter entitled A Pox on Charisma. She provides provocative insights and...Full Article »
There are two ways to imitate the innovations of others—namely; (1) developing a "me-too” or copycat offering to compete directly against the originator's innovation and; (2) launching a creative imitation of a rival's success.The difference between a "copycat” and "creative imitation" strategy is straightforward.A "me-too" offering is a...Full Article »
22 results
of 3