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Entrepreneurship & Management

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Highlighting the thought processes that go behind employing 'uncommon sense' for winning strategies. Startups recognize no boundaries when they start, and how application of this fearlessness might prove useful to the effective manager (Ref: 'Uncommon Sense, Common Nonsense' by Jules Goddard & Tony Eccles)

Entrepreneurship & Management

  1. 1. Uncommon Sense Required To Win
  2. 2. Who Wins? New Insights & Unique Data over Scale and Experience.
  3. 3. Markets are Imperfect Discovery, Enterprise & Differentiation over Processes & Systems
  4. 4. Profits? Practices drawn on Insights over “Best Practices” drawn from economics and social sciences
  5. 5. Differentiation? States of Knowledge over Forms of Ideology
  6. 6. In a nutshell- A Trek! Market-based competition is a discovery process Objective is asymmetric knowledge Explorer in an Effective Organization
  7. 7. 1) Winners & Losers “Dare to think for yourself” There is no standard way of winning Strategy is the art of first-hand thinking Theories cannot replace Insights
  8. 8. Firms outperform their competitors by aiming to be different, not better “Don’t be the best of the best. Be the only one who does what you do.” - Jerry Garcia
  9. 9. Losers look to competitive benchmarks than to their own imagination “Best practice is not the best strategy” - McKinsey & Company
  10. 10. Losers define strategy as cost competitiveness & seek efficiency through cost reduction “Be a price-maker, not a price-taker” - Jules Goddard & Tony Eccles
  11. 11. Winners are motivated more by meeting a need than a target “The purpose of a business is to create a customer” - Peter Drucker
  12. 12. The difference is less your aims and more your methods “Performance is a return on right beliefs, not right intentions” - Jules Goddard & Tony Eccles
  13. 13. The greatest threats to corporate performance are internal, not external “We are what we repeatedly do.” - Aristotle
  14. 14. It is better to be first than it is to be better “Losers are typified by the catch-up strategy of a better product at a lower price” - Jules Goddard & Tony Eccles
  15. 15. Success is its own multiplier “I’ll have what she’s having,” - Meg Ryan
  16. 16. Most marketing efforts serve only to reinforce the status quo “Buying habits die hard,” - Jules Goddard & Tony Eccles
  17. 17. 2) Strategy & Tactics Competitive Advantage = Corporate Individuation Individuation = Inventiveness + Discovery
  18. 18. A strategy is not a plan of attack but an idea under study “A strategy is a purposive sequence of decisions inferred from a unique belief system or world view.” - Jules Goddard & Tony Eccles
  19. 19. The measure of a strategy is not its ambition but its truth “Pioneering practices become best practices, which in turn become standard practices.” - Jules Goddard & Tony Eccles
  20. 20. The greatest barriers to competition are personal & cognitive “Winning strategies are best protected by their own heretical status.” - Jules Goddard & Tony Eccles
  21. 21. Wealth-creating actions are driven more by curiosity than by targets “Go beyond the prevailing state of knowledge.” - Jules Goddard & Tony Eccles
  22. 22. Effective strategy is as likely to flow from action as to lead to action “What comes first- thought or action?” - Jules Goddard & Tony Eccles
  23. 23. Strategic breakthroughs are more likely to arise from adhocracy than a formal planning process “Success has many fathers, failure is an orphan” - Jules Goddard & Tony Eccles
  24. 24. Creative people give themselves more time to solve problems “Poet, Artist, Logician and the Scientist,” - Jules Goddard & Tony Eccles
  25. 25. Strategy is more dependent on courage & humility than talent & charisma
  26. 26. 3) Organization & Management Stereotypical responses to pressure serve only to increase the pressure
  27. 27. Balance the virtues of Control & Learning Beliefs -> Targets -> Measures -> Rewards Beliefs -> Questions -> Ideas -> Experiments - Jules Goddard & Tony Eccles
  28. 28. The internet is disintermediating management “Draw upon more diverse talent pools, Co-create with customer & user groups, Relinquish control & work practices” - Jules Goddard & Tony Eccles
  29. 29. The need for extraordinary management suggests a poorly designed organization
  30. 30. Companies underestimate the power of intrinsic motivation “Autonomy. Mastery. Connectedness.” - Jules Goddard & Tony Eccles
  31. 31. “Find Leaders Build Teams Engage Employees Forecast Outcomes Pricing Options Detect Waste Pick Winners” - Jules Goddard & Tony Eccles
  32. 32. References Uncommon Sense, Common Nonsense (Jules Goddard and Tony Eccles) Mashable.com TheMuse.com
  33. 33. @sushrutmunje Founder & MD Hammer and Mop

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