Stratigic Managment- Annotated Bibliograph

Annotated Bibliography

BA 593 – Strategic Management
Corban College & Graduate School

D. Russell Libby II

April 9, 2009

Baker-Said, S. (May, 2008). Flight of the black swan. Bloomberg: Markets. Retrieved April 7, 2009 from : http://www.fooledbyrandomness.com/bloombergProfile.pdf
and
Baker-Said, S. (October, 2008). Taleb's `Black Swan' Investors Post Gains as Markets Take Dive . Bloomberg.com . Retrieved April 7, 2009 from : http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aDVgqxiT9RSg
This interesting article looks at a insurance/investment strategy formulated by Nassim Taleb, a futures trader tuned philosopher. The articles were written by a financial journalist for Bloomberg a financial news agency. Taleb champions a theory that states the importance of evaluating seemingly low probability events and how they impact decision making. His ideas are being transferred across industry lines from finance to aerospace to treasure hunting. The premise that a rare event will not happen because it is rare, is faulty because history has shown that most catastrophes were not expected, but possible. I would like to learn more about the theory behind Talebs thinking and understand some of his assumptions. As a manager in any industry, we need to have the best information available to make decisions, and if the models we use to generate the information are wrong, our decisions and results will also be wrong.
Drucker, P. (1966). The effective executive. New York: Harper & Row, Publishers.
Drucker- Chapter 1: Effectiveness can be learned
The author demonstrates his thorough understanding of the effects of executives he has gained as a management consultant and general interest in top management for the 20 years prior writing this book. Drucker utilizes this first chapter to lay the foundation for the rest of the book. An interesting point that is highlighted is his definition of “executives”, includes “knowledge workers” who make decisions that significantly effect the organization. Although this book is more than forty years old the concepts presented are basic and transcend time. There are no revolutionary ideas, but merely a succinct portrayal of effective personal management habits that will yield professional effectiveness. Drucker clearly states the need for and the results of effective executives in public service, private business and the Military. I am encouraged that a skill like effectiveness can be learned, because it always appears to be natural to some and definitely not natural for me.
Drucker- Chapter 2: Know thy time
This chapter is devoted to uncovering the secret of time wasted. It is important to note that much of an executive's time is not his own; it belongs to those under their supervision and more time yet is devoted to their superiors. Drucker points out the criticality of knowing where your time is being spent, since it is the most scarce resource anyone has. Often executives are too busy being busy, but to be effective we must consolidate any available time into blocks that can be spent toward the important activities that will catalyze improvement in the organization. Critically looking at the use of time should also highlight meetings or tasks that can be easily or even more efficiently be performed by others, which will free up more time to devote the the truly valuable work done by executives. This is a tool I have used especially in the last nine months and has been both surprising and frightening at what I do that I shouldn't; mainly tasks that may be performed better by other people, I just like doing them.
Drucker- Chapter 3: What can I contribute?
Drucker delves into the heart of the issue we all deal with (or should) regarding the effectiveness of our work; how can I best serve the organization as a whole. What skill, knowledge, specialty, insight or information do I posses or can I create that would best serve the customer? It is critical to point out that the customer may be the manager of the department, the accountant at the end of the hall or even “Joe Schmo”, the paying customer. The executives attention should be on how best to use his position to promote the company goals and ultimately success. Self motivation to be continually developing skills is contagious and exponentially improves the effectiveness at each level of the organization. This MBA program has given me some of the skills I lacked before. Now I have a better understanding of where my skills lie and how I can most effectively use them.
Drucker- Chapter 4: Making strength productive
This section lays out the human resources portion of making effective decisions and forming groups to be successful. The most effective way to make a group strong and productive is to give them a good leader. The author clearly demonstrates that having clear strengths is a much better representation of effectiveness than the lack of weakness. Next, jobs and responsibilities should be challenging and continually just beyond the grasp of the holder. This makes people grow and stretch their abilities to ultimately become better and more capable while giving the satisfaction of being challenged. Executives must also be ready and willing to train and teach throughout the growing process. Teaching has provided an excellent opportunity for me to find peoples strengths and grow them professionally but also find what they can do best for the organization.
Drucker- Chapter 5: First things first
Drucker succinctly depicts the most important of tools for any executive, prioritization. There were two aspects the author states that most people ignore or just cannot do; forget about the crisis of yesterday and remove items from your list if they become obsolete. The first is probably the most difficult because executives can easily become distracted with completing a project that they do not realize the more important activity is being put off. Displacing the new, more critical, activity may be a decision that changes the destiny of an organization for the worse. The second, removing items, is simpler to accomplish but requires continual review of the changing circumstances of the outside world and new information available. By setting priorities correctly and then focusing the available time on accomplishing them executives can accomplish huge tasks, one thing at a time. I have seen stagnant projects become invigorated by employing simple priorities, but still need some work on leaving the past behind.
Drucker- Chapter 6: The elements of decision-making
This section is setting the stage for how to make decisions by systematically presenting the anatomy of a decision. Drucker points out that nearly all problems are a symptom of a missing principal, a key value commonly held by the organization. Secondly, making decisions at the highest possible level will ensure that the right solution is found. Clearly defining the boundary of each decision will narrow the options and will enable verification that the decision was correct. Most importantly, decisions are not made if they are not acted upon, then checked on throughout the process of implementation. Once implemented the decision needs to be monitored and modified if new facts come to light or the environment changes. Decision making was an area where I had very good “gut” instincts, but recently my instincts have proven wrong. Making the right decision for the right reason at the right time is now my goal.
Drucker- Chapter 7: Effective decisions
Interestingly, Drucker describes the realization that decisions are made based on assumptions, and do not always need (or have the luxury of finding) all the facts, simply an assumption that fits all the facts known. The best fitting assumption must be tested and proven before making the decision, while simultaneously creating debate about the best solution. Looking at both sides of a decision critically will ensure that the problem is understood as clearly as possible. The author points out that disagreements are not based on stupidity, but a different perspective of the truth; understanding that perspective may open the door to the best solution. Sometimes the best decision is to do nothing if the results will be the same no matter the course of action. When the decision is done, it may be found later to be the wrong one which is a learning opportunity.
Drucker- Conclusion: Effectiveness must be learned
While this chapter condenses the rest of the book, it concisely describes the importance of effective executives. Forty years ago this was evident to Drucker, but how much more so have we seen the importance of each person being effective in any of their daily activities, weather home, office or church. The author places an emphasis on the ability and drive of the individual toward self development. Honing their skill to become more effective where it matters most to their organization is what will set apart the successful and effective executive from the burned out “pay check collectors” that fill so many of the jobs around us. From a personal standpoint this concept of learned effectiveness is very exciting as opposed to “being born with it”.
Heath, C. & Heath, D. (2007). Made to stick: Why some ideas survive and others die. New York: Random House.
Heath & Heath- Introduction
The Heath brothers had been studying the subject of idea propagation for ten years independently from two angles. Dan, as a writer with a passion for education, was focused on better education methods while Chip, as a professor at Stanford University, looked at patterns in urban legends and such. Gathering their research they decided to write a book to educate businesspeople, teachers, marketers and anyone who was trying to clearly communicate a message. The introduction was well written and capture the attention of the reader, because everyone has a message whether personal or work related. The authors describe that “Sticky” messages have six aspects in common; Simplicity, Unexpectedness, Concreteness, Credibility, Emotions and Stories. They insist that these templates can be taught and that teaching can be effective in a very short time. They claim that with some energy and forethought it is possible to make even the most mundane message into a memorable, and therefore, transforming parable. I will be interested to read this book in detail, because as a manager there are opportunities to change an organizations behavior, but backsliding is all too common. Drucker's conclusion above also states that becoming effective can be learned, so if we are ready to learn, many of the important management “skills” are waiting to be learned.
Peterson, E. DHL (speaker). (1997). Tell it slant: Parables as spiritual direction. (Audio recordings: 2609A.mp3, 2609B.mp3, 609C.mp3,609D.mp3, 609E.mp3). Vancouver, BC: Regent College.
Peterson- Lecture 1 ( 2609A.mp3)
Honorary Dr. Peterson is the professor of Spiritual Theology at Regent College in Vancouver, BC. He has pastored several churches and been a professor at New York Theological Seminary. Dr. Peterson has written several books including the paraphrased version of the Old and New Testament, The Message. In the first of five lectures the the speaker gives many examples of “spiritual direction” and where it may come from. Often it is not from whom you may expect like pastors, teachers and the like, but from lay people. As the descriptions continued for more than an hour I was distracted to the point where Dr. Peterson was loosing credibility as a Biblically based speaker. After awhile, it became evident that this was purposeful, and was used to illustrate how God can use anything to break through our defenses and invoke change. One of these methods Jesus Himself used were the parables. By skirting the teaching and even misdirection Christ was able to teach principals, rather than black and white, “do this and don't do that”. The idea of parables teaching more broadly was also suggested in “Made to Stick” (Heath & Heath, 2007). This concept is interesting in that giving step-by-step instructions has never yielded the right results in the long run.
Peterson- Lecture 2 ( 2609B.mp3)
For the second lecture in the series, Dr. Peterson delves into the parables as found in Luke 10-12. There were a few new twists on the parable of the “Good Samaritan” and the “LORD's Prayer”, but what I would like to bring out is the last concept taken from the foolish man who was building “bigger barns”. When believers think about the sin which we can become entangled it is easy to consider ourselves righteous, because we are not out committing adultery, murder or even stealing; the “big sins”. However, Satan attacks us in areas we feel are promoting God's kingdom. By example the speaker pointed to the temptation of Jesus while on earth. The things Satan used to tempt, were not the “big sins” but actually had positive outcomes, if it were not for the principals behind Satan's plans. We can easily be caught up in the sin of pride even while serving in our Church. Our motivations can change from serving the Living God to “looking good” to others. As a leader in many church activities, I need to stay aware of my motivations and be humble.
Peterson- Lecture 3 ( 2609C.mp3)
This third lecture was laced with three distinct sections all focused on parables. The first section was based on Luke 14-15, where he pulled out the physical senses with which we should be watching for Christs return. The next section looked at the hospitality in which we need to make sure Christ and others are comfortable in our presence. The last portion was speaking of the Lost parables. Most interesting was Peterson's insistence on the building gravity of the parables. He pointed out that the lost object gained importance from one in 100 to 1 in 2, and Peterson impressed the last parable the lost son who stayed at home with his father. It reminded me of Abraham bargaining with God for his nephew Lot, the only difference is that Abraham was persuading God to save, where Jesus was pointing out that every single human is important enough to save.
Sherman, D. & Hendricks, W. (1987). Your work matters to God. Colorado Springs: NavPress.
Sherman & Hendricks- Chapter 1: Between two worlds, The need for a Biblical view of work
Doug Sherman is the founder of Career Impact Ministries, an organization that helps businesspeople integrate their Christian life, faith and beliefs into their career. The co-author William Hendricks held a executive position within Career Impact Ministries and previously worked as a consultant. Both men obviously have a love for Christ and His Church and desire to see it grow in understanding what the Bible says about how we should work. This book was written to working men an women who need to meld their understanding of how to act out their faith where most of their time is spent, at work. The authors point out the chasm that has opened between work and the Christian life, noting that many Christians behave in the same way as their unsaved counterparts with respect to even the broadest moral code. This indicates that people who claim to be Christians on the weekend and at home, dump their view when it comes to work. While the opposite is true as well when people view work only as a mission field or as a necessary evil to pay the bills. It is refreshing to get a more focused biblical view of work after many books I have read including Drucker (1966) above.
Sherman & Hendricks- Chapter 2: Going for it! The secular view of work
In this chapter the authors present five different secular viewpoint on the way people look at their jobs and the influence it has on life and godliness. After describing what the five major themes were, many of the pitfalls were highlighted and condensed into three main problems. The first is that these secular views require more fulfillment than we ourselves or our jobs can give, which tends to lead to breakdown. Secondly, the secular view of work changes our career into an idol, which is powerless to help you in any way. Lastly, the secular viewpoint forces God out of the picture and causes a schizophrenia between beliefs and actions. It is truly amazing to see how many of the aspects of secular work thinking has dominated the mindset of Christians. It is important to keep God in His rightful place especially as we go about our work among unbelievers.
Sherman & Hendricks- Chapter 3: Ye cannot serve God and mammon, The two-story view of work
The third chapter presents a juxtaposition between “sacred” and secular as related to work. One common thought process, even under the surface the authors argue, is that most Christians believe that working in the Ministry is more valued to God. That working in the secular arena somehow put us in a different playing field than those in full-time ministry. It is noticeable when people do not believe that their work “matters” eternally, because they start to neglect parts of their jobs or tend to become lazy and irresponsible. It is important to note that we who work in the secular world are called to “work as unto the LORD” (Col. 3:23-24). This becomes part of our witness to those around us, and hopefully a tool for unbelievers to notice our excellent work ethic then subsequently ask why. That is the open door to share the Gospel of Christ, and hopefully develop a relationship where we can encourage and disciple them to maturity.
Sherman & Hendricks- Chapter 4: The strategic soapbox, The mainstream model of work
The authors observe the next belief about work held by most Christians, that work is primarily a place to share the Gospel. This is, of the three described, the closest to being biblically accurate. While Sherman and Hendricks were quick to point out that sharing the Gospel is a high priority, it should not be the highest. There are many mission fields, including our place of employment, where we must display our Christ likeness and ultimately that, more than presenting salvation, should be our aim. One important aspect brought to the forefront was that the “Great Commission” is more than salvation, but even more critically, growing the new believer as a disciple. This topic cause me to reflect on my own view of work, because some of the ideas used as a basis for this belief are similar to my own. I think the real trap comes when you are not balanced in your thinking and allow any one doctrine to monopolize your decision making while ignoring the others.
Sherman & Hendricks- Chapter 5: Your work matters to God, Work has intrinsic value
The fifth chapter is where the authors are able to establish and define what their point and perspective is. Thankfully, they supported most thoughts with scripture and not simply opinion. Using scriptures from the Old and New Testament, it was clearly shown that God is a worker and has created man in His image as a worker. It was demonstrated that people with the most menial jobs can and should still find significants in fulfilling the job God has placed them in. It was helpful for the authors to point out that we are not always able to see how our work is promoting God's cause. Sin has also effected the manner in which we are able to contribute by making some jobs questionable or even robotic and boring. This chapter has given me a better sense of the extent to which I am serving God at work. Not only am I to work diligently with integrity but I can enjoy doing hard work because God created me to be a worker, in His image.
Sherman & Hendricks- Chapter 6: God's work-your work, Work has instrumental value
As the sixth chapter was beginning I began to come to the understanding why we only needed to read the first four chapters. Although the previous chapter was littered with scripture, this one has only one or two. The ones used were also interpreted questionably, to say the least. The most striking point was made using Jesus' words from the “Great Commandment” of Matthew 22:37-40, “love the LORD your God....and love your neighbor as yourself”. The first two love commands are obvious, but then the authors added a third, “love yourself”. I think we naturally love ourselves and do not need work or extra motivation to do so, because many times, this turns into selfishness and egocentricity. The authors also painted a picture of how each job influences many people and provides for their needs which in turn serves God. All in all an interesting chapter, but a far cry from the previous chapters strong biblical basis.
Sherman & Hendricks- Chapter 7: It's a jungle out there, The effects of sin on work
This chapter highlighted the effect sin has on our jobs and our attitudes about work. The authors made several good points regarding the origins of work. Many people believe that work was a result of the fall. Using scriptures they clearly show that God gave Adam and Eve the job of cultivating the Garden of Eden before the first sin. Using some New Testament text it was shown that God encourages us to work hard, which also proves that work is good; for God would not ask us to sin or participate in evil. Sin however, has made work more burdensome, more futile and corrupted the environment in which we work. This is evidenced by all the moral sliding observed in every area of life, sadly including the Church. I appreciate the points made because I have often blamed work on Adam and sin in general. We are called however to work joyfully and diligently as for the LORD.