Problem-Solving Archives - Page 28 of 29

Pareto

The Pareto principle: Also known as the 80-20 rule, stating that in many situations approximately 80% of the effects come from 20% of the causes.

Vilfredo Pareto, an Italian economist, documented in the early 1900s that 80% of the land in Italy was owned by 20% of the population. Pareto went on to observe that 20% of the pea pods in his garden contained 80% of the peas. It has become a common rule of thumb in business that 80% of sales come from 20% of clients.

The 80-20 rule could be a metaphor about the American approach to many things, or at least about an element or aspect of the Americans approach. Americans tend not to be perfectionists. Not because they do not recognize and honor striving for the best. But because in many cases attaining, reaching, accomplishing that extra 5% is in many cases “simply not worth it”.

Worth. Value. Does the customer want that extra degree of engineering excellence? Is it necessary to calculate that many digits behind the decimal point? Is that depth of analysis necessary in order to make a decision?

80% is often enough. For Americans, depending on the situation, 60% is enough. Depending on the risk-benefit relationship, even less is enough.

“Paralysis by Analysis“

‘Paralysis by analysis’ – a phrase often used in the American business context – describes over-thinking that leads to a reluctance to make a decision, and in doing so exhausts the available time in which to act.

In Aesop’s fable The Fox and the Cat the fox boasts of hundreds of ways of escaping while the cat has only one. When they hear the hunting dogs approaching, the cat climbs quickly up a tree while the fox in his confusion was caught. The moral: “Better one safe way than a hundred on which you cannot reckon.” In Hamlet, Shakespeare writes of Hamlet’s flaw of thinking too much: “sicklied over with the pale cast of thought.”

Analysis: ‘In the final (or last) analysis’ means when everything has been considered. This phrase is used to suggest that a statement expresses the basic truth about a complex situation. Late 16th century. Medieval Latin from Greek analusis, from analuein unloose.

Reluctance: Unwillingness or disinclination to do something. Ambivalence: The state of having mixed feelings or contradictory ideas about something or someone. Hesitation: The action of pausing or waiting before saying or doing something.

Fail Fast, Fail Often

“Fail Fast, Fail Often, Fail Everywhere”. By John Donohue. The New Yorker. May 31, 2015.

“Discussions about failure may come more easily in America in part because our businesspeople are so good at it. The failure rate for startups, using a yardstick in which investors lose everything (i.e., all of the company’s assets are liquidated), is between thirty and forty per cent, according to Shikhar Ghosh, a senior lecturer at Harvard Business School.

The rate is seventy to eighty per cent if failure is defined as not meeting the projected return on investment, and ninety to ninety-five per cent if it is measured by failing to beat a declared projection.

Despite these statistics, Americans remain remarkably optimistic about the process—last year, venture-capital companies staked forty-eight billion dollars in pursuit of big returns. And the fact that these investments are concentrated in a relatively small number of companies has not seemed to inspire much fear in prospective entrepreneurs.

According to a study done by the Global Entrepreneurship Monitor, a project run by Babson College and the London Business School, in 2014 among respondents between the ages of eighteen and sixty-four who were not already running their own businesses, just thirty per cent reported that fear of failure would stop them from starting one.

And more than half of those Americans surveyed believed that there are good opportunities to strike out on one’s own.

Inspirational Coaches

Herb Brooks – coached the American men’s ice hockey team in the1980 Olympic Games when they won against the Soviet Union, who had won almost every world championship and Olympic hockey tournament since 1954. Inspirational quote: “You were born to be a player. You were meant to be here. This moment is yours.”

Tommy Lasorda – managed four All-Star games, and led the Los Angeles Dodgers to 8 National League West titles, 4 National League pennants, and 2 World Series championships. Inspirational quote: “The difference between the impossible and the possible lies in a man’s determination.”

Vince Lombardi – head coach and general manager of the Green Bay Packers. He led the team to 3 NFL championships and victories at the first two Super Bowls. Inspirational quote: “Perfection is not attainable, but if we chase perfection we can catch excellence.”

John Madden – became the youngest head coach in the American Football League in 1969 at age 33, and led Oakland to 7 AFC Western Division titles and a victory over Minnesota in Super Bowl XI. Inspirational quote: “When the going goes tough, you don’t quit. And you don’t fold up. And you don’t go in the other direction.”

Bill Russell – first as a player, then later as a player-coach, he led the Celtics to 11 championships. Inspirational quote: “The most important part of winning is joy. You can win without joy, but winning that’s joyless is like eating in a four-star restaurant when you’re not hungry. Joy is a current of energy in your body, like chlorophyll or sunlight, that fills you up and makes you naturally want to do your best.”

Bill Walsh – nicknamed “The Genius,” coached the 49ers to 3 Super Bowl wins and was named coach of the year twice. Inspirational quote: “Failure is part of success, an integral part. Everybody gets knocked down. Knowing it will happen and what you must do when it does is the first step back.”

The Buck Stops Here

The saying “the buck stops here” is used to refer to the person who takes responsibility. It is derived from the expression “pass the buck” which means to pass responsibility from one person to another.

The phrase “pass the buck” comes from the game of poker, in which a marker, called a buck, was used to indicate the dealer. When changing dealers, the first dealer would “pass the buck” to the new one, thus passing responsibility.

During his presidency, Harry Truman kept a sign on his desk, which read “The Buck Stops Here.” It was his way of showing that, as the leader of the United States, he was responsible for anything that happened in the nation.

He also made several references to this quote during his public statements, and in his farewell address, President Truman said “The President – whoever he is – has to decide. He can’t pass the buck to anybody. No one else can do the deciding for him. That’s his job.”

Shake up Harmony

Wall Street Journal, February 2014. “The High Cost of Avoiding Conflict at Work.” Joann S. Lublin

David Dotlich, a leadership and succession coach, has identified eagerness to please as one of the top reasons that executives fail.

Keen to innovate faster, employers increasingly choose bosses astute at dealing with conflict rather than ducking it, says Judith Glaser, an executive coach and author of the new book, Conversational Intelligence.

It’s not that firms want contentious leaders, but those who retreat from confrontation tend to postpone hard decisions and allow problems to fester, according to Ms. Glaser.

And with more businesses relying on teamwork, top managers’ conflict-resolution skills are in greater demand, adds Theodore Dysart, a vice chairman of Heidrick & Struggles International Inc., a major executive-recruitment firm.

Southwest Airlines Co. leaders wanted to shake up what they viewed as a culture of artificial harmony among staffers. The company now promotes middle managers to executive positions partly based on their ability to spark conflict among staffers.

Fester

Americans – both team leads and team members – almost always prefer a suboptimal conflict resolution reached in a timely manner over an optimal resolution arrived at late. Americans refer to conflicts which fester.

fester: to become painful and infected; to become worse as time passes; to cause increasing poisoning, irritation, or bitterness; to undergo or exist in a state of progressive deterioration; to make inflamed or corrupt; “We should deal with these problems now instead of allowing them to fester.”

First known use 14th century. Synonyms: break down, corrupt, decompose, disintegrate, decay, foul, mold, molder, perish, putrefy, rot, spoil.

Try anything once

The idea that people should try everything once is deeply ingrained in American thinking. In fact, Americans are so hesitant to choose a definite course of action without trying all of the alternatives, that Winston Churchill once said “You can always count on Americans to do the right thing – after they’ve tried everything else.”

Many famous Americans possessed of a try everything once spirit. American actress Mae West once said “I’ll try anything once, twice if I like it, three times to make sure.” In 1920, G.B. Manly offered to take American humorist Will Rogers on an airplane ride. After the ride, Rogers remarked: “Try anything once. Try some things oftener. When you goin’ again?”

American President Franklin D. Roosevelt also had the willingness to try anything – something which is now said to have greatly attributed to his ability to help America out of the Great Depression. FDR’s wife Eleanor once commented about him that “He recognized the difficulties and often said that, while he did not know the answer, he was completely confident that there was an answer and that one had to try until one either found it for himself or got it from someone else.”

Americans take a similar viewpoint towards products. They don’t want something that will last forever, but just long enough for them to try it, and see how it compares to other products that they’ve used. Then they want to move on to try another product.

Upgrades

There are a lot of American websites that describe ways to make use of old products after upgrading to newer models. If you type “creative ways to reuse things” into Google, you are met with over 20 million websites with such titles as “40 Awesome Ways to Reuse Old Stuff” and “534 Ways to Reuse Things You’d Normally Throw Away.” These sites have suggestions for reusing everything from bicycles to wrenches, and even to fruit peels.

Some of the suggestions listed on these websites include: Using an old bicycle as a sink stand. Turning an old cassette tape into a coin purse. Bending old wrenches into wall hooks. Cutting old credit cards into guitar picks. Turning an old suitcase into a chair. Grinding old egg shells to make sidewalk chalk.

“Ok, let’s go”

D-Day Landings (June 6, 1944). General Dwight D. Eisenhower’s decision to launch the Allied invasion of Normandy was made under immense pressure, with weather and intelligence uncertainties. Despite imperfect information, Eisenhower famously gave the go-ahead with the words “OK, let’s go,” understanding that waiting for perfect conditions could mean missing the opportunity entirely. The bold, timely decision was crucial to the success of the operation and is often cited as a defining example of American decisiveness and willingness to act quickly.