With President-elect Trump’s arrival in the Executive Branch, perhaps it’s time to step back and think about the role of government. If we agree on the role, we can better debate from the left and right how this role is best carried out. Free markets have many advantages, but also offer some real pitfalls. The government’s role stems from the self-serving interest of market participants – companies and consumers alike. This greed is good: it leads to innovation, wealth creation, productivity, striving to improve, and many other positives propelling our economy and society forward. But what is best for the individual or family is not necessarily best for the nation, hence the role of government. What are the big things that markets can’t carry out well on their own? They cannot set laws or ensure their just enforcement. In fact, a comprehensive legal…
Six best practices for shaping organizational culture
With the New Year approaching, it’s time to rethink your organization’s culture and not just its goals. Here are best practices for leveraging your culture to create business success. Winnow your list of values Across the street from my house sits a welcoming red-tile-roofed Catholic grade school campus with bright white adobe walls. The children wear navy blue uniforms, and the well-kept Catholic Church at its center has the charm only decades can bestow. School leaders recently placed banners naming the school’s values on the wire-fenced wall enclosing the playground: Sharing Stewardship Respect Service Gratitude Empathy Cooperation Celebration Building peace The school has too many values! What is the essence of the culture the school is trying to create? I understand the fine-tuning the administrators sought to articulate – empathy is different than gratitude – but what is at the school’s core? What…
Black Friday Retail Blues
The big day – post Thanksgiving Black Friday shopping – starts a holiday shopping season that makes or breaks many retailers’ year. Black is likely a better description of most retail leaders’ moods, as their market environment has only gotten harder year after year. From the days of Sears being the only store or catalog in town, we have moved to a world where the consumer is king. Expectations are merciless, prices are transparent, and consumers benefit from intense competition on-line and in-stores. Success will only come to brick-and-mortar retailers who have a clear view of their target customer, offer a brand promise that is relevant, high value and hard for others to copy, and create in-store experiences that make it worthwhile to go to the store. JC Penney (JCP) is a best-case example of what not to do. It added appliances—and subsequently…