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Words to the Wise from the World’s Richest Man
Hello, Jeff Bezos and Amazon have become a testing ground for business-thinking in the digital era. Through an extremely long-term vision and a focus on the “huge value” of execution, Amazon has become the world’s most valuable public company, and Jeff Bezos the world’s richest man. Jeff Bezos’ Annual Letters to Shareholders offer worthwhile insights…
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Careful What You Measure For – You Might Just Get It
Breaking news from 50,000 BC – as a business leader, “you get what you measure”. But the key is to identify the most meaningful, and the fewest, things to measure. Here are some tips from a recent Forbes article: Choose business metrics that actually impact business performance. Break down measures into smaller metrics to provide…
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Paint By Numbers Doesn’t Always Work for Leadership Training
Remember those Paint By Number kits you did as a kid? It was a great way to learn about painting. Plus it’s a confidence builder – it’s hard to fail at Paint By Numbers. But as a learning tool, the approach can only go so far. At some point the lines and numbers need to…
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PriSim’s Top-10 Milestones in 2018
PriSim had a great year – and we’re looking forward to 2019! Here are our Top-10 milestones in 2018: Grew by 30% in revenues. Developed and launched an Insurance Brokerage What-If Tool as part of a new “Grow Your Book of Business” insurance sales training program. Customized our BizFighter course for a Top-5 Aerospace and…
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Best Practices – Building and Using Business Simulations: Part 2
In the first post (Best Practices – Building and Using Business Simulations: Part 1) we promised adding more of the best practices PriSim has developed in more than 20 years of experience running business simulation exercises. Below is Part 2 of the Best Practices when Building and Using Business Simulations: Keep It Fun! – This…
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Danger in the Power Grid – of Leadership
Would you stay silent if you knew your boss was making a decision that would have terrible consequences? If you were a South Korean co-pilot in 1997, you just might. In fact, you might even go down with the plane rather than question your captain. Power is often unequally distributed in societies and also within…
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After-Action Review – Final Presentation
There is a discrepancy between what we experience and what we remember from an experience. According to the Peak-End Rule, conceived by Nobel-prize winning psychologist Daniel Kahneman1 and his collaborator Amos Tversky, “people judge an experience largely based on how they felt at its peak (i.e., its most intense point) and at its end…”2 rather…
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Busyness Can Be Bad For Business
The urge to stay constantly busy and “on” is a logical reaction to a work-world that seems to value productivity above all else. We want to be seen taking action and doing something – anything other than doing nothing. But this bias for action is frequently misguided; research into elite soccer players has shown that…
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Business Simulations as Leadership Observation Labs
A quote often attributed to Plato states, “You can discover more about a person in an hour of play than in a year of conversation.” And when the play takes place within the serious gaming of business simulations, the discoveries and insights can be extremely useful in leadership development. Business simulations provide a fast-moving backdrop…
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What? You also want PROFITS with that Innovation?
Being an innovative company is pretty exhilarating. But so are profits, and if you’re the CEO of a public company you’d better figure out how to balance both – or risk losing your job. A recent Forbes article presents a cautionary tale of harmonizing the two using GE as a case study. Customers want new…