Playing the Long Game If there is one company that epitomises long-term strategy, it is Amazon. On May 15th 1997, Amazon sold shares to the public for the first time. They were priced at $18 per share. Later that year, alongside their first annual report Jeff Bezos wrote a letter to Shareholders. That letter was […]
The Planning Fallacy
The Sydney Opera House Perhaps the most famous example of the planning fallacy is the Sydney Opera House. Located on Bennelong Point on the banks of Sydney Harbour in New South Wales, the Opera House was designed by the Danish architect Jørn Utzon and opened to the public in 1973. It is one of the […]
What Is a Balanced Scorecard?
Dull but Important What Is a Balanced Scorecard? That is not an exciting question. So let me try and give you a compelling answer. A Small Problem With the Exhaust In December 2017, Oliver Schmidt, a General Manager for Volkswagen, was sentenced to seven years in prison and fined $400,000. He had been on holiday […]
If You Can’t Measure It, You Can’t Manage It
Unhelpful Statements One of Peter Drucker’s maxims was “if you can’t measure it, you can’t manage it”. I have lots of sympathy for the statement. If you aren’t measuring performance, you can’t see if it is getting better or worse; if you don’t know if it is getting better or worse, you aren’t managing it. I like a robust […]
Efficiency versus Effectiveness
Quality Problems How do you define efficiency versus effectiveness? If you google “Tesla build quality“, you will uncover a mountain of complaints and dissatisfaction. [There] are problems with the rear-view mirrors, trim pieces, uneven panel gaps, sun visors, top halves, and rubber seals. ~ autoevolution.com Tesla has long been known to have issues with quality control, especially when […]
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