Mon - October 12, 2009

What health reform?


Defining the question and critical measurement

There's no shortage of viewpoints, but I'm yet to see anyone present the initial effective decision thinking advocated by Peter Drucker:

Good decision makers know how to define the problem. They ask, "What does the decision have to do to be appropriate to the problem?" Good decision makers don't even think about what is acceptable to whom and what compromises have to be made until they have thought through what the right decision is. But good decision makers know that, in all likelihood, they will have to make compromises in the end. And they know the difference between the right compromise and the wrong compromise.



Decision making is not a mechanical job. It is risk taking and a challenge to judgment. The "right answer" (which usually cannot be found anyway) is not central. Central is understanding the problem. Decision making is not an intellectual exercise. It mobilizes the vision, energies, and resources of the organization for effective action. At the end, it is an exercise in courage and responsibility.

Read more about effective decisions in Management: Tasks, Responsibilities, Practices

Finding CONNECTIONS: Intel map part of an exploration blueprint. Other related: Life-TIME investment system introduction

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Posted at 08:31 AM    

Thu - August 27, 2009

Snow Leopard available


Lots of goodies: Easy PDF text selection; More speed; QuickTime X; and many other refinements!


Posted at 09:09 AM    

Tue - July 7, 2009

78 Important Questions Every Leader Should Ask and Answer


Questions are valuable thinking and attention redirecting tools

78 Important Questions overview added to TLN site.


Web notebook recently updated.. New career, retirement, and financial planning links added to my delicious.

Finding CONNECTIONS: Intel map part of an exploration blueprint. Other related: Life-TIME investment system introduction

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Posted at 01:09 PM    

Fri - May 22, 2009

New article titles and links added to web notebook and delicious


Time investment candidates


Posted at 03:19 PM    

Sat - March 21, 2009

Exercises to Unlock Your Most Creative Ideas


Edward de Bono's Creativity Workout

See introduction


Finding CONNECTIONS: Intel map part of an exploration blueprint. Other related: Life-TIME investment system introduction

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Posted at 12:48 PM    

Tue - January 13, 2009

December 2008 article list added to my NoteTaker web notebook


Time-life navigation topics

View web notebook

Having a conscious, carefully chosen list of topics on one's time investment radar may help navigate a world moving toward unimagined futureS—capitalization intended. Will jump starting the economy be sufficient for individuals? Reflect on the worlds of 1630, 1850, 1900, and the decades since 1900. Have they been linear explorations of the years before? What work approach is sufficient? Has the Wall Street or auto industry approach worked? Why does Warren Buffett shy away from investing in tech?

Finding CONNECTIONS: Intel map part of an exploration blueprint. Other related: Life-TIME investment system introduction

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Posted at 10:07 AM    

Wed - December 10, 2008

Peter Drucker's Managing Oneself


Contents and notes page updated

I've recently added Peter Drucker's Managing Oneself to the Time-Life Navigation site.

The page presents a survey of the basic things we need to be working on in today's world.

Finding CONNECTIONS: Intel map part of an exploration blueprint. Other related: Life-TIME investment system introduction

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Posted at 01:25 PM    

November 2008 article list


Time-life navigation exploration seeds

View web notebook

Quite a few articles concerning our economic challenges.

Finding CONNECTIONS: Intel map part of an exploration blueprint. Other related: Life-TIME investment system introduction

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Posted at 12:28 PM    

Tue - November 4, 2008

October 2008 article list added to my NoteTaker web notebook


Time-life navigation exploration seeds


Posted at 02:38 PM    

Wed - October 15, 2008

CNN's Fareed Zakaria talks with Lee Kuan Yew


About his life as prime minister of Singapore

Video part 1 part 2

Finding CONNECTIONS: Intel map part of an exploration blueprint. Other related: Life-TIME investment system introduction

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Posted at 03:00 PM    

Tue - October 14, 2008

Fixing the economy


Government can't do it

Government may be able to provide some temporary relief, but they can't fix the economy. The economy is a moving target—a composite of our evolving external individual decisions—beyond the reach of economists. Exploring Toward the Next Economics and A Century of Social Transformation (see "futility of politics") provides some additional insight.

Despite news media reports the financial system and the stock market are not the economy. They exist because there is an economy. See Ben Graham for some really good financial investment help.

See snap shot of the economy for an exploration of the real economy which is beyond any government's reach.

economy

To add some current events superimpose September article titles

Resources for coping:

     

Contents:

Finding CONNECTIONS: Intel map part of an exploration blueprint. Other related: Life-TIME investment system introduction

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Posted at 05:27 PM    

Wed - September 10, 2008

August 2008 article list


Time-life navigation exploration "bread crumbs"


Posted at 01:58 PM    

Mon - August 18, 2008

July 2008 article list added to my NoteTaker web notebook


Time-life navigation exploration seeds


Posted at 08:14 AM    

Tue - July 8, 2008

June 2008 article list added to my NoteTaker web notebook


Time-life navigation exploration seeds


Posted at 09:15 AM    

Wed - June 4, 2008

May 2008 article list added to my NoteTaker web notebook


Time-life navigation exploration seeds


Posted at 12:57 PM    

Fri - May 9, 2008

April 2008 article list


Time-life navigation "bread crumbs"


Posted at 09:05 AM    

Thu - April 3, 2008

March 2008 article list


Time-life navigation exploration "bread crumbs"

View web notebook

Articles were collected from a variety of sources (over 50): CBS MarketWatch, Wharton, NY Times, MacWorld, major TV network morning shows, WSJ specialty journals, MIT, Google blogs, selected software forums and blogs, CIO networks, Yahoo news and U.S. Census Bureau plus others.

Finding CONNECTIONS: Intel map part of an exploration blueprint. Other related: Life-TIME investment system introduction

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Posted at 01:23 PM    

Fri - March 21, 2008

New version of Management: Tasks, Responsibilities, Practices outline available


Chapter key ideas are provided instead of chapter headings


Posted at 09:19 AM    

Mon - March 3, 2008

Notes on the New Educated Person


From Peter Drucker's writings

I've updated my notes on Peter Drucker's chapter on The Educated Person. The chapter first appeared in Post-Capitalist Society and was later included in The Essential Drucker.

The opening paragraphs of Post-Capitalist Society: EVERY FEW HUNDRED YEARS in Western history there occurs a sharp transformation. We cross what in an earlier book (The New Realities -1989) I called a "divide." Within a few short decades, society rearranges itself—its worldview; its basic values; its social and political structure; its arts; its key institutions. Fifty years later, there is a new world. And the people born then cannot even imagine the world in which their grandparents lived and into which their own parents were born.

We are currently living through just such a transformation. It is creating the post-capitalist society, which is the subject of this book.

Is "The Educated Person" something you want on your radar as a parent, mentor, or an individual? And how does one get and keep on their radar?

The document is a dynamic outline. The triangles at the left of a topic can be clicked to expand or contract the outline.

Notes on The Educated Person

  

Links above lead to book outlines


Posted at 08:47 AM    

February 2008 article list


Time-life navigation exploration seeds


Posted at 08:32 AM    

Mon - February 11, 2008

January 2008 article list added to my NoteTaker web notebook


Time-life navigation exploration seeds or "bread crumbs"


Posted at 07:41 AM    

Tue - January 1, 2008

December 2007 article list


Time-life navigation exploration seeds


Posted at 01:09 PM    

Mon - December 31, 2007

Thoughts on Charitable Giving


Strategies for making gifts go further toward a functioning society

Recently there have been several articles suggesting ways to best channel one's giving:

6 smart tips for charitable giving

  • Decide what your mission is
  • Check the program ratio
  • Use the Internet, wisely
  • Give by shopping, buying, matching
  • Watch out for fraud
  • Volunteer with friends

Pick a charity with a purpose

Finding a cause where your dollar will go the farthest should not be an exercise in blind faith or second-guessing. Apply the same rigor to your philanthropic efforts as you would to your financial investments.

Five questions to ask a charity organization before committing any money to it:

  1. How will my money be used?
  2. What impact do you anticipate having?
  3. How will you monitor and evaluate that impact?
  4. Why is what you're doing unique?
  5. What are your governance structures?

Just remember to treat any contribution you make as an investment: talk to the charitable organization's staff, set expectations and get personal updates

How hasty year-end donations hurt deserving causes

"indiscriminate givers will hand hard-earned cash to charities that burn up to 95% of revenue on administrative and fundraising expenses"

"such giveaways are perpetuating undeserving organizations that draw money from groups that make the most of every cent of generosity they receive"

"Organizations that telemarket generally are the ones you should avoid because they're most often cited for dubious practices,"

Except in the cases of outright fraud, philanthropy experts say, no U.S. politician or government agency has yet dared to tell people their heartfelt contributions are going to waste

Three tips to year-end givers as part of their due diligence:

  1. Find a charity that does exactly what you want to see done
  2. Look for long-time leaders
  3. Be sure the charity is spending at least 75% of its proceeds on the cause

"The most charitable thing anyone can do is to educate themselves on where their money is going, to ensure they accomplish the most good for something that really matters to them."

Beyond the considerations above:

See Managing the NonProfit Organization for more information—especially the preface.

See "Citizenship Through the Social Sector" in Post Capitalist Society (remember: every couple of hundred years in Western History—it will help interpret the news)

See "The Second Half of Your Life" in The Essential Drucker

       

Suggested general work approach: Review the resources above; take notes on areas of interest; think broad and detailed; and calendarize over your remaining life.


Posted at 01:12 PM    

Thu - December 6, 2007

November 2007 article list


Time-investment exploration seeds or "bread crumbs"


Posted at 01:58 PM    

Tue - November 6, 2007

October 2007 article list added to my NoteTaker web notebook


Time-life navigation exploration seeds or "bread crumbs"


Posted at 01:08 PM    

Tue - October 2, 2007

September 2007 article list added to my NoteTaker web notebook


Time-life navigation exploration seeds or "bread crumbs"


Posted at 01:09 PM    

Thu - September 6, 2007

May - August 2007 article list added to my NoteTaker notebook


Time-life navigation exploration seeds


Posted at 03:35 PM    

Mon - July 30, 2007

Effective Executive in Action updated


Outline format improved

I recently revised the outline to better reflect the books's structure. See introduction

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Posted at 09:25 AM    

Technorati blog claim


Process to claim my blog at Technorati

Special link below:

Technorati Profile


Posted at 08:06 AM    

Sat - May 5, 2007

April 2007 article lists added to my NoteTaker article title notebook


Time-life navigation exploration seeds


Posted at 09:41 AM    

Wed - April 11, 2007

March 2007 article list added to my NoteTaker article title notebook


Time-life navigation exploration seeds


Posted at 09:40 AM    

Fri - March 16, 2007

January and February 2007 article lists added to my NoteTaker article title notebook


Time-life navigation exploration seeds

View web notebook

Titles can be reviewed to identify areas for future time investment. A Google search should locate many of these articles. Clipping and mind mapping key ideas using thinking broad and thinking detailed would provide a foundation for further exploration and thinking canvas creation. Calendarization may be appropriate. What additional foundation for future directed decisions would be useful?

The most productive ideas are likely to be the result of aiming high, determining what needs doing, and a match to the individual's strengths, values, etc. (See Managing Knowledge Means Managing Oneself and Management Challenges for the 21st Century).

Suggested articles:

See bobembry's bookmarks on del.icio.us for additional favorite pages

CONNECTIONS: Intel map part of an exploration blueprint. Other related: Life-TIME investment system introduction

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Posted at 11:49 AM    

Thu - January 18, 2007

Better than deal or no deal?


Spend a hour calendarizing a lazy portfolio

A lot of people spent a hour this week watching Deal or No Deal -- with no financial gain. Spending an hour calendarizing a lazy portfolio would dramatically improve their financial investing performance and retirement opions?

Posted at 11:34 AM    

December 2006 article list


TLN exploration seeds


Posted at 11:23 AM    

Fri - December 15, 2006

November 2006 article list added to my NoteTaker article title notebook


Articles that seem relevant to time-life navigation

View web notebook

Titles can be reviewed to identify areas for future time investment. A Google search should locate many of these articles. Clipping and mind mapping key ideas using thinking broad and thinking detailed would provide a foundation for further exploration and thinking canvas creation. Calendarization may be appropriate. What additional foundation for future directed decisions would be useful?

CONNECTIONS: Intel map? Other related: Life-TIME investment system introduction

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Posted at 11:57 AM    

Wed - November 1, 2006

October 2006 article list added to my NoteTaker article title notebook


Source: October entries in my DEVONthink Pro articles database

View web notebook

Titles can be reviewed to identify areas for future time investment.

CONNECTIONS: Intel map? Other related: Life-TIME investment system introduction

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Posted at 02:22 PM    

Tue - October 3, 2006

September 2006 article list added to my NoteTaker article title notebook


Source: September entries in my DEVONthink Pro articles database

View web notebook

Titles can be reviewed to identify areas for future time investment.

CONNECTIONS: Intel map? Other related: Life-TIME investment system introduction

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Posted at 11:19 AM    

Wed - September 6, 2006

Why Some Older Executives Land Jobs -- and Others Don't


By Perri Capell

Why do some over-50 job hunters struggle to find jobs, while others seem to have little trouble attracting offers? Surprisingly, recruiters say it has less to do with candidates' wrinkles or gray hairs, and more to do with their corporate experience and the direction of their career path. Read more ...

Posted at 10:49 AM    

Defining the Duties Of the American CEO


By Peter F. Drucker

CEOs have ultimate responsibility for the work of everybody else in their institution. But they also have work of their own -- and the study of management has so far paid little attention to it. It is the same work, whether the organization is a business enterprise, a nonprofit, a church, a school or university, a government agency; and whether it is large or small, world-wide or purely local. And it is work only CEOs can do, but also work which CEOs must do.

In any organization, regardless of its mission, the CEO is the link between the Inside, i.e., "the organization," and the Outside -- society, the economy, technology, markets, customers, the media, public opinion. Inside, there are only costs. Results are only on the outside. Indeed the modern organization (beginning with the Jesuit Order in 1536) was expressly created to have results on the outside, that is, to make a difference in its society or its economy.

The CEO's Tasks

To define the meaningful Outside of the organization is the CEO's first task. The definition is anything but easy, let alone obvious. For a particular bank, for instance, is the meaningful Outside the local market for commercial loans? Is it the national market for mutual funds? Or is it major industrial companies and their short-term credit needs? All three of these "outsides" deal with money and credit. And one cannot tell from the bank's published accounts, e.g., its balance sheet, on which of these "outsides" it concentrates. Each of them is a different business and requires a different organization, different people, different competencies and different definitions of results. Even the very biggest bank is unlikely to be a leader in all these "outsides." For which of these to concentrate on is a highly risky decision and one very hard to change or reverse. Only the CEO can make it. But also the CEO must make it. It is the first task of the CEO.

The second specific task of the CEO read more ...

CONNECTIONS: Intel map? Other related: Peter Drucker On Leadership

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Posted at 10:46 AM    

August 2006 article list added to my NoteTaker article title notebook


Source: August entries in my DEVONthink Pro articles database

View web notebook

Titles can be reviewed to identify areas for future time investment.

CONNECTIONS: Intel map? Other related: Life-TIME investment system introduction

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Posted at 10:29 AM    

Wed - August 2, 2006

'America's Got Talent' teaches us how to plan a successful retirement


MarketWatch article suggest following one's dreams is the answer.

Article link

In the article "doing what one loves" and following one's dreams is suggested. At the bottom of the article:

"Even Peter Drucker, one of the greatest masters of the business world, did it. Listen:
"I was doing very well as a young investment banker in London in the mid-1930s, and the work clearly fit my strengths. Yet I did not see myself making a contribution as an asset manager. People, I realized, were what I valued, and I saw no point in being the richest man in the cemetery. I had no money and no job prospects. Despite the continuing Depression, I quit—and it was the right thing to do."
That's the best kind of retirement planning.

Got talent? Don't waste it.

Some day you'll be called to account for your gifts. "

The path that Peter Drucker chose is not as simple as implied above—a functioning society.

The paths that he suggests for others:
Managing Knowledge Means Managing Oneself;
The Effective Executive in Action;
The Daily Drucker—" what can I contribute? rather than what can I achieve?";
Josh Abrams life;
Leadership (What needs doing); and
Entrepreneurship and Innovation

Max  De Pree: Amatuers and Polishing Gifts

Edward de Bono: The Happiness Purpose (the legitimate purpose of life is happiness and the best foundation for happiness is self-importance)

My opinion: What we love and our dreams are a function of our mental patterns at a point in time along our life lines which are embedded in the changing social and economic picture. We need a work approach that is adequate to the challenges ahead rather that a rigid prescription. One of the challenges we face is that many years down the road we discover we've been living someone else's life in a prior time period or that we wasted our talents on trivial pursuits. My TLN web site provides a prototype blueprint for such a work approach—time-life navigation ©.

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Posted at 07:25 PM    

Tearing up the Jack Welch playbook


The Six Sigma master was once the undisputed authority in management. But Fortune is finding that today's smart CEOs are following a different set of rules.

Main article

The new rules

  1. Old rule: Big dogs own the street. New rule: Agile is best; being big can bite you.
  2. Old rule: Be No. 1 or No. 2 in your market. New rule: Find a niche, create something new.
  3. Old rule: Shareholders rule. New rule: The customer is king.
  4. Old rule: Be lean and mean. New rule: Look out, not in.
  5. Old rule: Rank your players; go with the A's. New rule: Hire passionate people.
  6. Old rule: Hire a charismatic CEO New rule: Hire a courageous CEO.
  7. Old rule: Admire my might. New rule: Admire my soul.

Jack Welch fires back

As you're reading, try mentally placing yourself in the world of 1970 and testing these ideas against what actually happened.

CONNECTIONS: Intel map? Other related: Organization evolution definition; Marketing and Innovation in a society moving in time; About change; Toward unimagined futures; and The X-Economy

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Posted at 05:52 PM    

July 2006 article list added to my NoteTaker article title notebook


Source: July entries in my DEVONthink Pro articles database

View web notebook

Titles can be reviewed to identify areas for future time investment.

CONNECTIONS: Intel map? Other related: Life lines

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Posted at 04:38 PM    

Wed - July 5, 2006

Theodore (Ted) Levitt dies


Harvard Business School Professor Emeritus Theodore (Ted) Levitt died Wednesday, June 28 at his home in Belmont, Mass., after a long illness. He was 81 years old

His article “Marketing Myopia,” argued that companies and entire industries declined because management defined their businesses too narrowly, immediately became a huge success, with requests for 35,000 reprints from 1,000 different companies soon after its publication. More than 40 years later, more than 850,000 reprints had been sold, making the article one of the best-selling HBR articles of all time.

... snip, snip ...

The key question that all managers must be able to answer, he advised, is “What business are you in?” The railroads, for example, “let others take customers away from them because they assumed themselves to be in the railroad business instead of the transportation business,” he wrote.
See the rest of the story ...

CONNECTIONS: Intel map? Other related: Marketing Crisis

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Posted at 01:53 PM    

June 2006 article list added


June articles added to my DEVONthink database

New article titles have been added to my web notebook

Titles can be reviewed to identify areas for future time investment.

CONNECTIONS: Intel map? Other related: Life lines

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Posted at 12:48 PM    

Wed - June 7, 2006

May 2006 article list added


May articles added to my DEVONthink database

New article titles have been added to my web notebook

Titles can be reviewed to identify areas for future time investment.

CONNECTIONS: Intel map? Other related: Life lines

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Posted at 11:31 AM    

Thu - May 4, 2006

April 2006 article list added


April articles added to my DEVONthink database

New article titles added to my NoteTaker notebook (blog_clips).

Article titles can be scanned to identify areas of future time investment.

CONNECTIONS: Intel map? Other related: Life lines

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Posted at 11:03 AM    

Mon - April 24, 2006

Marketing In Crisis


Contrasting approaches to economic participation


In a recent Forbes.com article Jack Trout wrote: "Peter Drucker once wrote that since the purpose of business is to generate customers, only two functions do this: marketing and innovation. All other business functions are expenses. That said, one could argue that this advice is being ignored as marketing appears to not be getting the kind of attention it deserves.

The average tenure of chief marketing officers is less than 23 months. (That's a quicker turnover than NFL coaches.) Then there's the phenomenon of some of America's big brands being in big trouble. Some have disappeared; some are in financial difficulty; and some are watching their competitors eat their lunch—or, shall we say, market share. Why are some brands losing their long-lived integrity? Where has marketing gone wrong in guiding these businesses? General Motors, Sears, Kodak and AT&T are shells of what they once were.

There are many reasons for this state of affairs. For openers, there is a level of competition that is mind-boggling. The last time I counted, there were 180 brands of dog food. A simple product like water had 50 brands. Got a cough or cold? You have 134 brands of medicine to choose from. This introduces what I call the tyranny of choice. If you make a mistake, your customers simply move on to any of a number of other options. In other words, if you make a mistake, your competitor quickly gets your business—and you never get it back. …" See the rest of the article ...

The product (brand) orientation view of marketing mentioned above and so widely practiced in the U.S. economy is not what Peter Drucker had in mind when describing basic business functions. Those with a marketing or other functional background read what Peter Drucker wrote and naturally fit it into their existing mental patterns. Read more …

CONNECTIONS: Intel map? Other related: Changing Social and Economic Picture

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Posted at 01:10 PM    

Wed - April 5, 2006

The land of pension fantasies


New survey finds 61% of workers expect a pension

Corporate America has changed the retirement-plan landscape but a good portion of workers don't seem to realize that yet. See the rest of the story at CBS MarketWatch ...

CONNECTIONS: Intel map? Other related: CSEP

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Posted at 11:32 AM    

March 2006 article list added


March articles added to my DEVONthink database

New article titles added to my NoteTaker notebook (blog_clips).

Article titles can be scanned to identify areas of future time investment.

CONNECTIONS: Intel map? Other related: Life lines

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Posted at 11:21 AM    

The Effective Executive in Action


by Peter Drucker and Joseph A. Maciariello

The Effective Executive in Action table of contents has been added to my TLN site. The document is a dynamic outline. Clicking on the triangles to the left of a topic expands and contracts the outline.

Effectiveness is a key element in career evolution, but more is needed and useful.

CONNECTIONS: Intel map? Other related: Changing social and economic picture

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Posted at 10:54 AM    

Wed - March 1, 2006

Recent TLN site additions


Conceptual resources and the brain in time


Posted at 12:06 PM    

Tue - November 15, 2005

Peter Drucker Dies


Peter Drucker, the management visionary whose humanist ideas deeply shaped the modern organization, died November 11, 2005 at the age of 95 in his home in Claremont, California.


Posted at 10:41 AM    

Wed - October 19, 2005

American Generations


American Generations tells the story of four family members in an ever-changing America. (a Scott Burns series)

The Dallas Morning News' series follows four members of the same family - Joanne, born in 1920; Bobby, born in 1940; Stephen, born in 1963; Shelby, born in 1997 - through the 20th century. Their successes and trials are the story of all of us - buoyed by rising prosperity, medical advances and more individual freedom, but challenged by fresh national problems and our own human frailty.

The first article in the series. Links to remaining articles are at the bottom of each page.

CONNECTIONS: Intel map? Other related: Developing a work plan: TLN key ideas

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Posted at 11:46 AM    

Mon - October 17, 2005

Changing social and economic landscape article list updated



Article titles can be used for idea stimulation. See notebook

CONNECTIONS: Intel map? Other related: About change

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Posted at 07:18 PM    

Sun - August 14, 2005

Does an M.B.A. Pay Off For Career Changers?


Traditionally, the M.B.A. degree has guaranteed students a fresh start in a new career.

But now with so many graduates competing for so few jobs, recruiters can afford to be very choosy. They are less inclined to take a risk with a career-switcher when there are plenty of M.B.A. graduates with past experience in their industries or job functions.

See the rest of the story ...

CONNECTIONS: Intel map? Other related: Career evolution

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Posted at 01:30 PM    

Thu - August 4, 2005

On point: conversation with business guru Peter Drucker


Tune in to hear a conversation with business guru Peter Drucker about the direction America is taking.

95-year-old Peter Drucker is one of the world's most respected thinkers. For six decades, he's helped shape many of today's great corporations and made the study of management theory a respected discipline. As a journalist, teacher, consultant, and author of more than 35 books, Drucker's expertise reaches far beyond the confines of the Fortune 500.

Born in Vienna in 1909, Drucker studied law in Germany before moving to London to escape the Nazis, and later to the United States. In 1945, his book, "Concept of the Corporation," based on a two-year study of General Motors, became an instant bestseller.

Since 1971 he has taught at Clarement Graduate University, which in 1987 named its business school after him. His new book is titled "The Daily Drucker: 366 Days of Insight and Motivation for Getting the Right Things Done."

Hear the rest of the story ...

Notes from broadcast

CONNECTIONS: Intel map? Other related: About change

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Posted at 11:34 AM    

Tue - August 2, 2005

Are fund expenses too high?


Expense ratios are the best predictors of performance -- way better than historical returns

Kinnel underscored his point rather dramatically: "You'd be better off randomly picking a fund with expenses in the cheapest quartile and past returns in the worst quartile than a fund with returns in top quartile and expenses in the highest quartile."

In fact, the expense ratio is not only the best predictor of performance, as Kinnel says, it is the "only" statistically reliable predictor, according to a study by the Boston-based Financial Research Corporation.

See the rest of the story ...

A must read for any financial investor interested in their future wealth.

CONNECTIONS: Intel map? Other related: Financial investing

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Posted at 08:53 AM    

Mon - July 25, 2005

Wolfsburg, `Special' City, Reels as Volkswagen Flounders


In Wolfsburg, an industrial town 160 kilometers (100 miles) from Berlin, Volkswagen AG employs almost half the 122,000 inhabitants. Europe's largest carmaker also funded the swimming pool, paid for the planetarium, and financed the university.

The company even paid 480 million euros ($584 million) in 1999 to build a car museum that highlights the transformation of Wolfsburg, founded by the Nazis in 1938 to house workers who built the original ``People's Car,'' into the pride of German manufacturing.

``This is a special city,'' said Mayor Rolf Schnellecke, in an interview in his office overlooking Porsche Strasse, the main Wolfsburg pedestrian mall named after another German automobile icon, Ferdinand Porsche.

As Volkswagen flounders, Wolfsburgers get concerned. The Wolfsburger Nachrichten, the local newspaper, sees an ``epochal cut.'' The company's sales are sliding, and Chief Executive Officer Bernd Pischetsrieder plans to eliminate 7 billion euros in costs within three years. The head of personnel and the top labor union official resigned this month amid a corruption probe.

See the rest of the story ...

CONNECTIONS: Intel map? Other related: About change and Organization evolution

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Posted at 03:52 PM    


































































































































































































































































































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