Leadership

Fresh Pick of the Day, September 29, 2016: “The Right Way to Take Risks — in Business and Life”

From Knowledge@Wharton – “What I tried to do in my book is describe these tenets of risk-taking that apply across business and investing in life. There are four tenets: right-sizing the risk; right-timing; relying on knowledge and experience; and remaining skeptical of promises and projections. Those apply to investing tremendously. I think all the time about the right size of the positions that we take in companies; whether it’s the right time, because timing of when you buy or sell is critically important. How much we know about the investment, and then being skeptical about what we hear from Wall Street or what we might hear from the companies. But if you think about how we apply those in our life, take just some simple examples.

Right-sizing: If you’re going to buy a house, you want to make sure that you’ve got a house that’s the right size, not too big, not too small. Otherwise, it will be a mistake. It’s getting a mortgage that’s of a size you can handle; the size of your investment in that property is really important. So that’s something that everybody deals with involving size, whether you’re buying a house or you’re renting a place. There are four tenets: right-sizing the risk; right-timing; relying on knowledge and experience; and remaining skeptical of promises and projections.

Right-timing: You definitely don’t want to open an ice cream shop in November, if you have a choice. If you’re living in the Northeast, or you’re living in Philadelphia, you would rather open it in April or May. Timing affects many decisions, no matter what they are. When you’re getting married, when you’re getting engaged, when you’re having children, timing is just a factor. Sometimes it’s more important or less, but it’s definitely a risk factor.

Relying on knowledge and experience: You don’t want to, for example, take on an intern at your show if that person has only worked in an art gallery, and they say, ‘Oh, but I’m really, really interested in broadcasting and radio’ but they’ve shown no interest before. Is that something you should know about or not? I would say yes, because it’s a risk that you hire somebody who isn’t capable and doesn’t show any aptitude. So you’re relying on knowledge and experience.

Remaining skeptical: If you’ve got a buddy and you’re out to dinner with him, and he says, ‘I’ve got a great new idea for a restaurant and bar that I would like to open downtown, and I would like you to invest this many thousands of dollars.’ If you don’t ask a few questions about that, it would be pretty illogical. You better not be too credulous and say, ‘Hey, Jason’s a great guy, I really think that he’ll be a great bar owner.’ That would be silly — and it would be a lot of risk. That’s exposure to danger and uncertainty; that’s what risk is. You do need to be exposed to uncertainty to make any money or to make the right decision, but if you don’t think through why it might go wrong, you would be pretty gullible.”

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Fresh Pick of the Day, Aug 12. 2016: “Kathryn Shaw – Three Things All Good Bosses Do”

From Stanford University – “A good boss can make a big difference. But what makes a good boss? Stanford Graduate School of Business Professor of Economics Kathryn Shaw found effective managers use similar strategies and have a lasting positive impact on their employee’s careers. Here’s how they do it.”

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Podcast # 32: “Holding your ground in the workplace” from Business Rhythm with Frank & Jamie

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From Business Rhythm with Frank & Jamie (Episode # 32 ) “Holding your ground in the workplace”

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Fresh Pick of the Day, June 29, 2016: “Brexit: Five consequences | FT World ”

From FT.com  – “What are the consequences for the UK and the EU after the Brexit vote?”

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Fresh Pick of the Day, June 23, 2016: “The end of the Chinese miracle | FT Features “

From Financial Times Features – “China’s economic miracle is under threat from a slowing economy and a dwindling labour force. The FT investigates how the world’s most populous country has reached a critical new chapter in its history. Jamil Anderlini narrates.”

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Podcast # 29: “Irrationality in organizations” from Business Rhythm with Frank & Jamie

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From Business Rhythm with Frank & Jamie – “Consider the following: In a well-known pharmaceutical company, a potential medicine has been going through clinical trial for five years. After the company spent more than $300 million, the testing has shown clear signs of going nowhere. But instead of closing the project to cut the losses, the project’s champion, a vice president, decided to continue the clinical trial.”

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Fresh Pick of the Day, May 7, 2016: “What Do Your Social Media Posts Reveal About Your Health?”

From Knowledge@Wharton – “That last question may seem odd, but not to the researchers at the Penn Social Media & Health Innovation Lab at the University of Pennsylvania. Director Raina Merchant and her team are investigating how people’s social media language on sites such as Facebook, Twitter and Yelp can be used to assess and their health and predict diseases. The conditions they are looking at are some of the main culprits for premature death and disability (not to mention skyrocketing health care costs) in America, including heart disease, diabetes, hypertension, obesity, chronic lung problems, depression and drug abuse.”

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Fresh Pick of the Day, April 18, 2016: “A Big Data Approach to Public Speaking” from Insights by Stanford Business

From Insights by Stanford – “Students in my strategic communication class often ask how they can become more engaging, competent communicators. This question is in no way new — rhetoricians dating back to the ancient Greeks have explored this issue. However, unlike Cicero and Aristotle, we now have big data tools and machine-learning techniques to examine the core characteristics of effective communicators.”

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