A sting in the tail

Posted by Philip Smith on 10 October 2019
Are we paying attention to our economy ? "The track record of economists in predicting events is monstrously bad. It is beyond simplification; it is like medieval medicine." -  Nassim Nicholas Taleb During the last few months I have followed ongoing commentary regarding the state of the Australian economy. The clever people, economists, academics, think tanks ( oxymoron ), celebrities,  the mainstream media, financial gurus, reporters and television "talking h...
Posted in: Leadership  

Perceptions vs Reality

Posted by Philip Smith on 10 September 2019
Our perception are often wrong. My eldest grandson, Jack, is 8 years old and very worried about the farmers, the drought and the fires. Last year he raised $ 25.50 for the farmers, all off his own volition, and this year he was determined to do better. Read how he raised the $ 25.50. Once more I watched this little man gear himself up for raising more money. We ( he ) decided  that a garage sale would be a good idea, because we ( I ) had lots of stuff we could sell. He contribu...
Posted in: Value  

Numbers matter

Posted by Philip Smith on 9 August 2019
Until they don't. We live in an age of numbers. From quarterly results, production efficiencies to the good old KPI's ( aka KBSI ). The real question we have to ask is whether these numbers mean anything. Do they add value to our decisions or clarify a problem or provide better service to our customers or just what is the purpose of the numbers we seek. By way of example Toyota management has an interesting approach to numbers and I will quote a short section from &quot...
Posted in: Lessons  

Fear & Habits

Posted by Philip Smith on 7 July 2019
Are some of our habits driven by our fears or are our fears driven by some of our habits? A Harvard study "Do I dare say something" shows how people are often driven by fear of consequences, in determining whether they should or should not mention an idea or make a suggestion. Whether or not we make the effort to contact a new client, is often subject to this same set of conditions of Fear, Uncertainty and Doubt, the good old FUD factor. Fear can easily become a habit...
Posted in: Leadership  

The Value of knowledge

Posted by Philip Smith on 3 June 2019
It's never about what we know or think we know, it's what we do with what we know.  Our assumptions and actions are always based on the "knowledge" we think we have or the "knowledge" we perceive others to have, but we should stay aware that there might be same major blind spots in this mix.  Our assumptions are also often based on perceived wisdom or "truth" we have adopted from others ( experts ) and this is frequently wrong, if not...
Posted in: Lessons from a 5 year old