Suggested Management Development Resources

Suggested Management Development Resources Following is a list/summary of some of my favorite management development publications that I have discovered over the years. This list is still a work in progress and will continue to grow as new resources are discovered. It includes title, author, a brief summary, plus my personal takeaways gleaned from reviewing these materials. NOTE: These comments do not represent the views or opinions of the authors. They are simply my observations/comments. Speed of Trust Stephen M. Covey. This is a great management book. It goes to the heart of the problem with most failed business and personal relationships; lack of trust. The Speed of Trust provides insight that may help you with your business as well as your personal life. As an Actuary, I am drawn to formulae so I was impressed when the author reduced the measurement of Self Trust to a formula. The 4 cores of credibility; Trust = Character + Competency where Character = Integrity + Intent and Competency = Capabilities + Results. This equation is particularly useful in managing yourself but also in the process of hiring/managing people and in selecting/managing business partners with Character as a foundational requirement and Competency as the differentiator. He also presents another formula for Results = (Strategy X Execution) X Trust which was both simple and insightful. Learn more about Trust taxes (a drag on results) and Trust dividends (an accelerator to results). The book s message is consistent with the premise that the size of a business or any economic structure is directly proportional to the amount of trust that exists within that business or economy. THERE S NO SUCH THING AS BUSINESS ETHICS John Maxwell. The author was asked to write a book about business ethics in comparison to personal ethics. The title to this book was his response. All too often we hear people use the rationale that a business action affecting people isn t personal; it s just business. The author argues that there isn t a different set of rules for businesses; ethics is ethics and there is simply one set of ethics for all relationships. On page 23 he states there are really only two important points when it comes to ethics. The first is a standard to follow. The second is the will to follow it. He discusses extensively the importance of the Golden Rule standard but then goes further and offers up the Platinum Rule (page 113). If everyone practiced the Golden Rule, the world would be a better place. But think about what kind of world it would be if everyone treated others better than they are treated. And he illustrates by sharing how companies with strong ethical foundations succeed. Maxwell states that Ethics plus Competence is a winning equation. Outliers, THE STORY OF SUCCESS Malcom Gladwell. My simple takeaway from this book was another formula that goes; Success = Preparation + Opportunity. Preparation requires the hard work and practice required to be good at anything. The author s rule of thumb is that it takes 10,000 repetitions to perfect a skill. He uses many different athletic examples as well as educational examples to prove the point. In order to be successful, you must have the skills to succeed and then have the opportunity to apply those skills. Many people want to be successful but are not willing to put in the hard pre-work. So when they are given opportunities, they simply do not have the skills needed to succeed. Preparation 1 P a g e T A Y L O R L A K E C R E A T I V E, L L C

does not guarantee success since you still need the right opportunity to showcase your skills; however, without preparation, failure is almost certain. Success requires preparation; there are no short cuts. Blink, THE POWER OF THINKING WITHOUT THINKING Malcom Gladwell. Your collective past experiences and learned skills prepare you to make intuitive decisions that can be both fast AND accurate. In fact, we sometimes talk ourselves out of the right decision because we haven t spent enough time researching and deliberating. In the world of actuarial science, this is referred to as Analysis Paralysis or Striving for 9 Decimal Point Precision. Many opportunities are missed by over analyzing the situation. While intuition can be a powerful tool, you should not use it as a rationale for reckless decision making either since it can also lead to incorrect and potentially dangerous decisions. Read more to learn how to identify and take advantage of blink moments. Danger in the Comfort Zone Judith M. Bardwick, PH.D. This book is about change management and transforming an organization from a culture of entitlement and/or fear to a culture of highly productive earning illustrated by the following graphic. The low productivity ends of the spectrum are characterized as entitlement cultures or fear cultures where work effort and/or risk taking are low. One fascinating insight was that even small actions designed to move the organization away from an Entitlement Culture towards an Earning Culture immediately move people all the way to Fear side of the curve; change can be scary and uncomfortable. However, over time those affected by the change will get comfortable with the new changes and move back to the Entitlement side of the chart but closer to the Earnings world. Another change moves them back to Fear but not as far as before. After numerous iterations of small changes, always allowing people to adjust and get comfortable, the organization will eventually move into the Earnings Curve and on their way toward optimal balance of productivity and anxiety; or as a mentor of mine described it as a place with healthy tension. Who Moved My Cheese Dr. Spencer Johnson. This is simple book to read with a powerful message on change. When change happens you can choose how to react. The book is about 4 mice, Sniff, Scurry, Hem, and Haw and how they deal with changes to their world when their cheese is moved. Cheese is a metaphor for something we seek in life such as a job, a relationship, money, a nice house, freedom, health, recognition, etc. Sometimes change gets in the way and forces us to find a new form of cheese. We can t control when and how change will occur; however, we can choose how we respond. Here are the words of wisdom the mice scribbled on the wall during their journey to find new cheese. 2 P a g e T A Y L O R L A K E C R E A T I V E, L L C

Change Happens - They Keep Moving The Cheese Anticipate Change Get Ready For The Cheese To Move Monitor Change Smell The Cheese Often So You Know When It Is Getting Old Adapt To Change Quickly - The Quicker You Let Go Of Old Cheese, The Sooner You Can Enjoy New Cheese Change - Move With The Cheese Enjoy Change! - Savor The Adventure And Enjoy The Taste Of New Cheese! Be Ready To Change Quickly And Enjoy It Again - They Keep Moving The Cheese Followership; The Essence of Leadership - Chris Lee. This was the first article I ever read on the subject of followership. Since that time, I have found countless books, papers, websites, and presentations on the subject. We all know individuals who are great leaders capable of inspiring others to follow their visions. We also know individuals who try and fail to lead. Not all individuals are capable of leading large groups of people effectively. There are a lot of books written about leadership; however, not nearly enough about the power of the Effective Follower. Effective followers know when to lead and when to help someone else lead. They understand that leadership is a two sided partnership requiring active participation by both parties. Managers and leaders do not know everything. They recognize/value the expertise of the follower group and effective followers actively participate and contribute to the success of the leader. Often good followers grow into good leaders but not always. The ultimate measure of a good leader is the number of committed and effective followers. Paradigms: the Business of Discovering the Future - Joel Barker. This is the title of his book but I was first exposed to the author through one of his videos on the Power of Paradigms. Paradigms are patterns or models that can be very effective in helping us make decisions by short cutting the situational analysis process. However, while paradigms are powerful tools, they can also blind us to new information/new patterns and lead to poor decisions when available information is used improperly. The video contains some very powerful material about how paradigms can help us and hinder us in our thinking process and decision making. Joel demonstrates how thinking differently is necessary for us to identify new ideas and opportunities. I have used and recommend his video presentations as visual learning tools to support planning sessions. Twelve O clock High (movie). This movie, starring Gregory Peck, was produced in 1949 about daytime bombing of Germany during World War II. It is an interesting action movie to be watched and enjoyed in that light. However, it also contains significant insight into the application of effective leadership skills such as identifying talent, building a team, decision making, and maximizing performance. I first discovered this movie as part of a management training course taught by the University of Wisconsin Madison. It has stuck with me ever since. Star Trek Next Generation (TV Series). As a Trekkie, I enjoy science fiction books, movies, and TV shows. All 5 of the Star Trek TV series are interesting; however, I particularly enjoyed the Next Generation series for its approach to leadership and problem solving. Patrick Stewart, as Jean-Luc Picard, was an exceptional leader who surrounded himself with effective follower/leaders. His approach 3 P a g e T A Y L O R L A K E C R E A T I V E, L L C

to problem solving and decision making is a source of inspiration for any manager willing to endure the science fiction element of the show. Picard would hold leadership team meetings in his ready room where he would encourage/demand participation in the problem solving process based on the collective expertise of his leadership team; however, he also knew that it was his ultimate responsibility to make the decision. And he was decisive about those decisions. His approach reminded me so much of my first experience participating on a management team lead by an early mentor, Dick Uphoff. He was an effective leader in part due to his respect and encouragement of effective followers; many of whom grew into effective leaders. Dick s approach has stuck with me and helped shape many of my beliefs and practices today. Please Understand Me, Character & Temperament Types - David Keirsey and Marilyn Bates. This book discusses the Myers-Briggs personality types which are divided into 16 different healthy personality types. Of the 16 types, there are no bad types, just different types and different preferences for receiving and processing information. The book includes a short test to help you identify your type and then includes a lot of information about communication, management, and relationships from your perspective. My experience has taught me that most problems in the work place boil down to miscommunication. People generally have good intentions but there are communication disconnects that lead to conflict. Understanding how different people receive and process information is often times insightful and can help bust through these communication barriers. This book is also helpful in working through non-work place relationships as it goes into depth in terms of identifying personality types in mates, children, and others and reflects on how these personality types influence behaviors. 21 Irrefutable Laws of Leadership John Maxwell. Maxwell s style is refreshing in its simple approach to organizing and presenting information. In this book he talks about 21 different useful leadership principles and supports them with his experiences and research. While they are good, the one that stayed with me the most is the Law of the Lid which states that everyone has a limit to their ability or desire to lead. Some people are comfortable leading small teams, while others can handle much larger teams. Some may be comfortable leading a small company while others are capable of leading a large, multinational corporation. The secret is realizing your lid both in terms of your abilities AND your desires. Some people may be very capable of larger leadership roles; however, for one reason or another simply do not want to take on that role at this time. Larger leadership roles require different skills, different attitudes, and different levels of commitment. Know your lid and/or grow your lid. Getting Things Done David Allen. The most important take away for me from this book was simply why and how to get organized. People tend to overcommit or under deliver because they rely too much on remembering everything they promised to do rather than getting things out of your head and onto a list. Once they are on the list, you can free up brain power to focus on the things that have the biggest return. His approach is to encourage people to Be response able. Tell people what you are going to do and then do what you told them you were going to do. Be accountable to yourself and to others. The approach outlined is to Capture, Clarify, and then Organize your commitments. Define outcomes and then look for the next physical action you can take to move something forward. This is an iterative process that you should repeat daily, weekly, or some regular interval of time. 4 P a g e T A Y L O R L A K E C R E A T I V E, L L C

Keith E. Nelson, FSA, MAAA TAYLOR LAKE CREATIVE, LLC http://www.tl-creative.net/ About the Author: Keith Nelson is president of Taylor Lake Creative, LLC; an Actuarial and Management Consulting company. In additional to his professional actuarial experience, he has nearly 40 years of experience in management at all levels within an organization including front line management, functional management, project team management, product management, executive management, and board of director level management. 5 P a g e T A Y L O R L A K E C R E A T I V E, L L C