1: In 1962, Milton Friedman famously wrote, “there is one and only one social responsibility of business—to use its resources and engage in activities designed to increase its profits…”
Was Milton right? Do businesses exist to maximize profits?
I think the more interesting question is: What is the best way to maximize profits? And, over what time period?
Because maximizing profits in the short-term is very different from maximizing profits … continue reading
1: “This new compensation plan is terrible,” said one of the mid-level managers. “It will drive our best salespeople away,” write Jocko Willink and Leif Babin in Extreme Ownership: How U.S. Navy Seals Lead and Win.
The company’s leadership had recently unveiled a new comp plan for their sales force. The new plan significantly reduced pay, especially for low-producing salespeople.
“This new compensation plan will push people to our … continue reading
1: “In order to convince and inspire others to follow and accomplish a mission, a leader must be a true believer in the mission,” writes Jocko Willink in Extreme Ownership. Jocko was commander of SEAL Team Three’s Unit Bruiser, the most highly decorated Special Ops Unit of the Iraq War for their heroism during the battle of Ramaldi.
Yesterday we explored how Jocko responded when higher command sent down … continue reading
1: “This makes no sense at all,” Jocko Willink writes in Extreme Ownership.
The mission statement from higher command was clear. His elite Navy SEAL team would be required to execute their assignments “by, with, and through Iraqi security forces.”
Jocko and the rest of Task Unit Bruiser were stationed in Ramaldi, the epicenter of Iraqi insurgency, doing battle with hardcore mujahideen fighters determined to kill as many Americans … continue reading
1: “Some may wonder how Navy SEAL combat leadership principles translate outside the military realm to leading any team in any capacity,” Jocko Willink and Leif Babin write in their terrific book Extreme Ownership: How U.S. Navy SEALs Lead and Win.
“But combat is reflective of life, only amplified and intensified,” they write. “The leadership and teamwork concepts contained in this book are not abstract theories, but practical and … continue reading
1: Getting better at getting better is what RiseWithDrew is all about.
Monday through Thursday we explore ideas from authors, thought leaders, and exemplary organizations. On Friday, I share something we are doing at PCI in our quest to earn a spot of Fortune magazine’s 100 Best Companies to Work For.
2: PCI is a values-based company. We are a values-driven company. Our five values, which we refer to as “The Five,” are … continue reading
1: The margin of victory in professional athletics is often slight. In the Olympics, the difference between the gold medal winner and the last-place finisher is often only seconds or even fractions of a second.
“On this team, we fight for that inch,” Al Pacino growls in Any Given Sunday [aside: Great speech! Terrible movie….].
Indeed. Finding a competitive advantage is critical. Which is why Sleep Researcher Dr. Matthew Walker… continue reading
1: Dr. Matthew Walker had just finished delivering a public lecture on sleep when a distinguished-looking gentleman dressed in a tweed suit jacket approached the podium.
“As a pianist,” he said, “I have an experience that seems far too frequent to be chance. I will be practicing a particular piece, even late into the evening, and I cannot seem to master it. Often, I make the same mistake at the … continue reading
1: Shakespeare was right.
Writing in Macbeth, he tells us sleep is “the chief nourisher in life’s feast.”
Four hundred years later, the science now shows how sleep has a seemingly miraculous effect on our ability to learn and remember. Yesterday, we looked at a controlled experiment in which those who took a nap after doing intensive learning were able to recall 20 percent more information than those who … continue reading
1: “Scientists have discovered a revolutionary new treatment that makes you live longer. It enhances your memory and makes you more creative. It makes you look more attractive. It keeps you slim and lowers food cravings. It protects you from cancer and dementia. It wards off colds and the flu. It lowers your risk of heart attacks and stroke, not to mention diabetes. You’ll even feel happier, less depressed, and … continue reading
