Managing and Leading at Work and at Home: Rethinking Capitalism

Monday, January 10, 2011

Rethinking Capitalism

Watch this interesting video from Michael Porter (HBS professor and strategy expert).

Rethinking Capitalism

What is the purpose of business?

Do corporates have a responsibility to society beyond earning the highest possible profit? Why or why not?

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Purpose statement and terminology

Purpose statement:
Welcome. This blog is for my students, past and present, and for all others who wish to learn with us.

I'll post quotes, relevant anecdotes, links, and my own recent learnings here about once a week.

Terminology:
Direct report: someone who reports to you directly on an organizational chart. At home, your child(ren).

Managing: ensuring that all people, materials, money, supplies, and other resources are in place to accomplish tasks and projects. Ensuring that all people are informed and on track to meet project goals. Daily work involves planning, coaching, supervising, persuading, and reporting.

Leading: Developing a vision, inspiring others to make vision reality, creating urgency around needed change, and foreseeing future risks and opportunities. Daily work involves strategizing, persuading, inspiring, analyzing, and coaching.

Managing upward: One manages upward when one understands one's boss (and his/her boss and so on) and ensures that boss knows what is happening in the way he needs to know.

Leading upward: One leads upward when one understands the strategic nature of one's organization -- its financial levers, its competitive advantage, and its strengths and weaknesses -- and communicates to those above oneself on the org chart to ensure decisions are made that reflect the best interest of the organization.