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Alicia Blain

Entries tagged with “strategy+business”.


I always like to read about unique perspectives that people can apply to leadership in the 21st Century.  I was reading the February 4th edition of strategy+business & came across this article titled “Reaffirming Corporate Commitment“  which is a research study conducted by Hal Ersner-Hershfield (Northwestern University), Adam D. Galinsky (Northwestern University), Laura J. Kray (University of California at Berkeley), and Brayden G. King (Northwestern University). In the strategy+business excerpt of the research study, it talks about the effectiveness of conducting “what-if” scenarios of a company’s early days to boost employee morale.  They used FedEx as an example to illustrate what they meant. 

They showed how in the 1970′s, Fred Smith, the founder of FedEx , literally gambled on the future of his company. Not  having enough money to pay for airline fuel, Smith flew to Vegas for a weekend, went to a blackjack table & gambled the company’s last $5,000. He was able to turn the $5,000 into $24,000 & was able to keep the company afloat.  In their research the authors correlate that gamble & conviction by the founder to keep the company afloat to the fact that  FedEx consistently ranks on Fortune magazine’s 100 Best Companies to Work For list.

The authors call this counterfactual thinking which looks at what might have been if past events had turned out differently for a company .  Being the movie buff that I am, I couldn’t help but correlate the concept of counterfactual thinking with that of  the great classic Frank Capra movie “It’s a Wonderful Life“.  Remember the story: Jimmy Stewart was bitter & frustrated with his existing life & all the  sacrifices & challenges that life had thrust upon him. In a moment of desperation, he angrily wishes he had not been born.  The rest of the movie shows Jimmy witnessing the dire consequences of that wish &  how so many people had benefited from his being in the world .  In the end, Jimmy is ecstatic to be alive & comes to appreciate his life, warts & all. 

A powerful, uplifting story & one that makes us as viewers appreciate what we have & how we’ve touched people.  To me, counterfactual thinking can be the corporate version of  “It’s a Wonderful Life” .   What would have happened if Fred Smith had not gone to Vegas to save the company? FedEx would probably have folded & would not be on the 100 Top Best Companies to Work  list today.  That’s a powerful message to share with employees.  Do you think after listening to that near miss, the employees would appreciate working for FedEx even if it had a wart here & there?  You bet.  Just like Jimmy Stewart did.  Counterfactual thinking challenges employees to think about what would happen if their company had not been founded or had folded early on.  Very much like the reaction “It’s a Wonderful Life” gets from viewers everytime they see the movie, employees get a boost of appreciation for the company & their commitment & morale increase. 

It makes perfect sense but how many times do companies share their version of the “It’s a Wonderful Life” story with employees?  How many times is counterfactual thinking utilized by companies to increase employee morale?  According to the authors when this unique perspective is applied,  the palpable postive effect on employees is still evident two weeks later. The authors suggest that in today’s uncertain economic times, organizations can use the past to foster employee commitment to the current & future state of the company.

This made me wonder how many companies today were effective in keeping their corporate history alive?  How many of them do so consistently and as part of their corporate communication strategy? How well versed is the leadership in knowing the company’s past? Can you, as a leader,  provide your team with stories of critical turning points in your organization that changed its direction for the better?  What about a visionary leader who showed tremendous conviction despite incredible odds & saved the company from ruin & extinction?

Everyone is touched by stories & what better way to touch employees than by sharing the rich corporate history that most organizations have locked up in their extensive archives.  Get out those dusty archives & communicate key events in your organizations history that made a difference & contributed to its staying power. The authors of this research say it best when they say that “ By having employees focus on how things might have turned out differently and where they would be without their company, firm leaders can help foster a more positive view of the workplace and higher morale”.  

Employees today are desperate to hear good news & feel positive about their companies.  Maybe experimenting with a counterintuitive strategy or message can do the trick.  It certainly couldn’t hurt…

As the holiday hibernation period sets in, many of us begin to take some  much needed time off.  In case you are stuck at the mall, waiting in a long line to pay for your purchases, you may be looking for a way to distract yourself so you don’t scream with frustration. 

If you enjoy reading articles on management or leadership, I have just the thing.  I came across an article in strategy+business titled “ 15 Years, 50 Classics“  written by Art Kleiner.  In celebration of their 15th anniversary, the magazine editors went back in time (appropriate for a BIMD mention) and identified the top 50 articles (the Classics) that have had the most impact in their 15 year run.

Believe it or not, many of the articles written as far back as 1995 still have relevancy even though the world, and the US,  were very different back then (no Google, no YouTube or Twitter, no China or India as major global players).  You have a wide selection of topics to pick so you’ll only scratch the surface while you’re on line.  Between Christmas and New Year’s, as things begin to calm down a bit, you may find yourself with some time to go back in time and catch up.

Who knows?  Maybe one of the articles will resonate with you and give you some ideas to experiment with in 2011.  New Year’s Resolution?  Done…

Happy reading and happy Friday, everybody…