Leadership Insights - January 2023
“We must learn to live together as brothers or perish together as fools.”
Dr. Martin Luther King, Jr.
Civil Rights Leader and Nobel Laureate
An Innovation Primer
No serious executive would ever say that innovation was not important…..but many have little real acquaintance with the concept or its history outside their own industry (if that).
Spend a few minutes with this executive summary of Long Waves: The History of Innovation Cycles from Visual Capitalist. It describes the Five Waves of Innovation since 1785 and with the Fifth Wave ending, describes what the Sixth may be like. You’ll be better able to take advantage of number six if you understand the preceding five.
A few years ago, I featured another innovation graphic that is too good not to share again for those who missed it. It can help anchor some great conversations about the choices you have in bringing innovation to your company. Spend a few minutes “Understanding the 10 Types of Innovation.”
The End of Non-Competes?
You may have read that the Federal Trade Commission has proposed new rules banning non-competes. Many companies use these agreements to protect their customer base, markets and to prevent competitors from acquiring employees in whom they have invested more than a few dollars in training and who may have very valuable information between their ears.
Dr. Scott Galloway’s “No Mercy, No Malice” blog looks at the downside of non-competes from a social perspective, arguing that Silicon Valley was only possible because California prohibited such agreements and that “in 2005, economists at the Federal Reserve put forward statistical evidence supporting the theory. Apple, Disney, Google, Intel, Meta, Netflix, Oracle, and Tesla were able to succeed without limiting the options of their employees.”
Check out Dr. Galloway’s interesting blog post: “Compete.”
A WSJ article (may have a paywall) argues that the FTC’s planned ban will not hold up in court, but in the ongoing War for Talent, the ability to obtain and enforce a non-compete should not be taken for granted.
Judgment and Decision-Making Traps for Leaders
One skill every C-Level Executive must have is judgment and decision-making ability. Without these, nothing else really matters.
If you’d like sharpen your saw in these areas, Vistage Speaker Krishna Pendyala will offer a 90 minute virtual workshop “Judgement and Decision Making Traps for Leaders” on Friday, January 27 at 11:00 a.m EST to help you make better calls and bets and on what’s ahead. Click here for more information. We welcome non-Vistage members to this event.
Best Interview Answers (To THEIR Questions)
It's no secret that the current market for talent is a seller’s market. In addition to the market being turned upside down, Vistage employment law expert Hunter Lott warns employers that the interview process is also being reversed.
Mr. Lott points out that employers increasingly are not just asking the questions but are having new and often unexpected questions put to them by prospects.
Do you know what employees are starting to ask during interviews and do you have the right answers? Mr. Lott’s video series “Take 5” will share some “Interview Answers” YOU need to be ready to provide.
“Not Goldilocks.” Some recent economic data has some economists thinking that maybe we’re ducking the bullet of a recession, calling the current metrics an indication of a Goldilocks ecnomomy….in other words “just right.” . Dr. Brian Wesbury isn’t so sure and offers some reasons why he thinks the current economic outlook is NOT Goldilocks.
A Note From Scott:
How are you planning to learn, change and grow in 2023 - both personally and professionally?
The 23 members of my CEO peer advisory group are growth-minded. If you want to learn and grow by leveraging the experience of these successful peers, we have one or two open seats.
Contact me to explore if you'd be a fit for our group.