Competing on Analytics
Competing on Analytics by Thomas Davenport and Jeanne Harris is an important book for business leaders. The title explains it well: some companies are setting up analysis of information as a major competitive strategy. If …
Does the CEO Hear the Truth?
I just started reading Competing on Analytics, because analysis of data is a huge competitive advantage in the Trial and Error Economy. The preface, by Harrah’s CEO Gary Loveman (who has a Ph.D. in economics!) …
The 4 Steps to Using Metrics in Hiring Decisions
Forbes reports that employers are increasingly using quantitative measures in hiring decisions. (Article here, but free registration required.) This will scare some folks, but who hasn’t had really bad job interviews? One fellow wanted to …
Detroit Hurting–Legacy Costs Not the Problem
Detroit is hurting, but don’t be mistaken–auto sales aren’t bad. Instead, it’s American brands that are doing poorly, while foreign nameplates are doing alright. (We refer to brands and nameplates, because about half of the …
Bonuses Better Than Rasises
Bonuses generate improved productivity more than raises do, according to a recent study from Cornell Center for Hospitality Research, reported in Science Daily (hat tip to Guy Kawasaki.): "Giving a 1 percent raise boosts employee …
The Supremes and Price Floors
The Supreme Court should reverse past rulings and allow manufacturers to require minimum retail prices. It’s both consumer friendly and the only conclusion consistent with human rights. Background: the Supremes heard arguments that seek to …
Starbucks’s Strategy
Howard Shultz, the CEO of Starbucks, is questioning the chain’s currently strategy. His memo to senior staff was leaked, posted on the web, and discussed in the Wall Street Journal (subscription required). Shultz cites several …
The Trial and Error Economy
Plans sound great, but that’s not how the economy really works. When economists think about an economy with multiple goods and services, and a price for each, we sometimes ask, how does the real economy …
A New Approach to Recruiting
I’ve been talking about ways to hire in a tight labor market. Turns out there’s a new way. Business 2.0 magazine (which I highly recommend) has an article about a social networking approach to hiring, …
How to Apologize
Jet Blue messed up its flights this week, after a stellar record for great service. In an era where CEOs say they are "taking responsibility" with a statement blaming others, Jet Blue CEO David Neelman …
“Boomers Encouraged to Find ‘Hobby Jobs’ “
The Wall Street Journal recently reported that financial advisers are recommending that baby boomers who retire get "hobby jobs" in their retirement, defined as jobs that may pay less than the old job, but which …
Today vs The 20th Century
Terry Brock, a technology guru, has a great comparison of the 20th Century to Today: Take a look at Terry’s written commentary about these points here. By the way, Terry is a terrific speaker. If …