THOUGHTS OF CHAIRMAN MAC

  Like me, are you disenchanted with and discouraged by the body politic of our country now? Are you weary of the self-serving conniving machinations exhibited by the political leaders of both parties? Are you frustrated that we can’t seem to come together and agree on any idea or action that will impact the future of our country in a positive way? Does it feel like this is something new that is causing our once unified country to come apart at the seams, spawning what seems to be a bleak future? If so, think again. As published in “American History” magazine, here is an excerpt from a letter written by Benjamin Franklin to a friend in France, just after participating in the Constitutional Convention of 1787. It seems as though Franklin could be living today when he wrote: “We must not expect that our new government may be formed as a game of chess played by a skillful hand, without fault. The players of our game are so many, their ideas so different, their prejudices so strong and...

  One of the most often espoused strategies in business management is called “best practices.” The hypothesis of “best practices” is if the executives of a company research, understand and then mimic the “best practices” of their most successful competitors, then their own success will be assured and come with less effort. In reality, fealty to the idea of studying and copying the “best practices” of the competition is, for a variety of reasons, often more destructive than constructive. But that does not stop many from pushing the idea as a panacea for management. Some business consulting firms even specialize in the area of “best practices” and offer ready-made templates to standardize business processes. These templates are sold as a map for management to adopt the best practices of other companies and they encompass virtually every process and procedure of the company. The allure of adopting a “best practices” management strategy is obvious, but the efficacy of this approa...

Trust is the most underrated aspect of the relationship between a business leader and subordinates. The presence of trust in a business relationship makes almost any objective possible. The absence of trust corrodes any business affiliation and erodes the power of the leader until nothing is possible. Trust in a business relationship is different than trust in a marriage or the trust we place in a pilot when we board an airline. I would even differentiate the concept of business trust from the idea of ethics. Not that trust can be built without being ethical, but in the context here trust has a different nuance. Creating an Environment of Trust Trust in a business relationship is about many things, but mostly it is about being consistent with those with whom we deal with. The secret to building business trust is to be the same today as you were yesterday and will be tomorrow. Trust is engendered when others can count on what the leader says as being the same as what the leader do...

  Behind every success story – be it individual, career, entrepreneurial or corporate – is a remarkable story of dedication, resilience, yeoman effort and even a bit of luck. Success is never bequeathed by aspiration, but it is almost always achieved as a result of continuous concerted effort.   There is no better feeling than the feeling of success achieved after a long, hard, honest effort. In a way, achieving success, in any form, is your way of making history. However, it’s important to recognize that achieving the desired success is not the end of the road, but only a sign that you are on the right road.   The funny thing about success is that as difficult as it is to achieve, it takes even more focus and commitment to sustain it. Success is not self-sustaining. Success is only preserved by building on it, not resting on it. In fact, success has its own way of weakening the very behavior that created it. The key to preserving and even enhancing success is by bein...

  It’s Easy to Understand Hard in Business No question, it often seems as though we live in a complicated, bewildering and challenging business environment. This goes for both those attempting to build a business and those seeking to create a rewarding career. There seems to be an endless stream of challenging problems to solve. And yet, the reality is that, at its core, the business of business is simple . Believe it or not, the tougher it seems to get to be in business, the simpler it should be to be in business.   My contention is that the single biggest inhibitor to decoding the simple secrets to problem solving in business is a bumbling gaggle of bureaucratic managers who only offer byzantine systems, inflexible control points, conflicting strategies and knee-jerk actions which only serve to make problem solving much more complicated than it need be. And this approach to problem solving leads to suppressing the flow of fresh ideas and creative actions that could conve...

  TEN RULES TO REBEL AGAINST TO BECOME AN EFFECTIVE AND SUCCESSFUL LEADER     If your desire is to become an effective and successful leader, at any level, you will find yourself constantly beseeched to follow the established rules that have ostensibly been laid down to show you the best path to achieving your goal. Initially, these rules may have been well intended, but over time many of them have evolved into a set of stultifying leadership commandments carved in stone. This results in a structured rigid approach to leadership that creates a commonality of approach, but, in so doing, stifles enthusiasm, initiative, creativity and freedom of action. Leadership rules are to be respected, but that does not mean they are inviolet and can’t be challenged. Especially if these rules reach the point of actually impeding or obstructing the implementation of new, creative approaches to leadership. Listed below is a group of established leadership rules that have become ...

  The traditional image of the entrepreneur as a dashing adventurer who recklessly gambles with their life and financial future is grossly inaccurate in today’s world. Historically, we think of such luminaries as Henry Ford, Thomas Edison, and J. Pierpont Morgan as the epitome of the entrepreneur. More contemporary figures include Steve Jobs, of Apple, Bill Gates of Microsoft fame, Mark Zuckerberg of Facebook, Jeff Bezos of Amazon and Tim Cook of Netflix.  These are the type of individuals that renowned management consultant and author Peter Drucker had in mind when he wrote, “An entrepreneur always searches for change, responds to it, and exploits it as an opportunity.” The Beliefs of the Entrepreneur These entrepreneurs and others like them had strong beliefs about a market opportunity and were willing to accept what others viewed as a high level of personal, professional, or financial risk to pursue that opportunity. What distinguished these individuals from others is...