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Rita Gunther McGrath

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Famous Rita Gunther McGrath Quotes

“If your business is anything like our exemplar firm, or indeed like most companies we have worked with, the projects you have committed to complete represent over 100 percent of your carrying capacity. This can have surprising effects on the length of time each project takes to complete. For instance, imagine a project that will take a skilled software developer six months to complete. The lead time to completion if this person is working full-time on the project is six months. Divide this person’s time between four projects, however, and three-quarters of the time, each project is being ignored by the person. The lead time to completion of all four projects stretches to two years! Delays like this can be deadly in a world where speed matters.”

WorkBusinessManagementHuman ResourcesProject ManagementOrganizational CultureInefficiencyRoadmaps
Book:The Entrepreneurial Mindset: Strategies for Continuously Creating Opportunity in an Age of Uncertainty
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“This much being said, don’t get trapped into microallocating people’s time. Allocating personnel-months is sufficient for most projects of any strategic significance.”

WorkBusinessManagementTime ManagementProject ManagementOrganizational CultureMicromanagement
Book:The Entrepreneurial Mindset: Strategies for Continuously Creating Opportunity in an Age of Uncertainty
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“Though part of the puzzle is obviously capital budget allocations, most companies seem to have a much higher awareness of the rules by which capital and assets are allocated than they do about how skilled people should be spending their time.”

SkillsManagementTime ManagementHuman ResourcesCompany CultureHuman CapitalPrioritizingTime Allocation
Book:The Entrepreneurial Mindset: Strategies for Continuously Creating Opportunity in an Age of Uncertainty
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“The former head of this operation, Gary Wendt, who is credited with much of the enormous success of GEFS, used his personal agenda as a simple but inordinately powerful tool for growing the business into ever new entrepreneurial arenas. Over the years, he used his personal agenda to make it unequivocally clear that he expected entrepreneurial business growth from every member of management. At every major meeting, the topic of business development was on the agenda (usually in the number one spot). In every annual review, managers were asked to demonstrate the revenues they had created from businesses that did not exist five years before. From division heads to newly hired analysts, everyone was held accountable for some set of activities having to do with creating entrepreneurial revenue and profit streams. In short, no one who worked in the organization could avoid the unremitting focus on new business development. You need to make sure that you are similarly consistent, predictable, and focused, and that you sustain this emphasis over a long period. Pressure applied only once is soon forgotten, and alternating pressure (as in flavor-of-the-month management) will cause people to be confused, disillusioned, or angry. Wendt’s consistent, visible, and predictable attention to business development created a pressure in GEFS for entrepreneurial business growth that took it from the $300 million installment loan portfolio we looked at in chapter 6 to a financial services behemoth with $250 billion in assets under management when he left in 1998. Examples of Wendt’s single-minded determination to drive growth through entrepreneurial transformation at GEFS are numerous. Years ago, for instance, he was asked whether his agenda would change if someone rushed in and told him that the computer room was on fire (implying that his business could be completely destroyed). Wendt replied that he employed firefighters to handle such emergencies. As the leader, his most important job was to keep people focused on business development. Since business development is an uncomfortable and unpredictable process, Wendt knew that if he allowed it to appear to be a low priority for him, all those working for him would heave a sigh of relief and go back to business as usual, with new businesses struggling to find a place on the priority list. In fact, as he remarked, even if he did try to get involved in putting out the fire, he would probably only interfere with the efforts of the highly competent people employed to do so.”

LeadershipManagementBusiness DevelopmentPrioritizingIntrapreneurshipEntrepreneurial MindsetGary WendtGefs
Book:The Entrepreneurial Mindset: Strategies for Continuously Creating Opportunity in an Age of Uncertainty
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“SOME MISCONCEPTIONS ABOUT TEAMWORK 1. Effective teams work together a lot. We found instead that smoothly functioning groups work just as well when individuals are able to work independently, yet confidently. 2. Conflict between group members is bad. Many researchers agree that this is dangerous. But constructive conflict is essential to prevent such dysfunctions as individual apathy, group-think, and the so-called Abilene paradox, in which members agree to agree, even if they have qualms. What makes conflict constructive is controlled disagreements over ideas (not personalities) and a common commitment to, and mutual confidence in, execution after a decision is made. 3. Teams are better off when members like each other. True, it’s tough to work with someone when you have an overwhelming urge to throttle the person. On the other hand, there are plenty of groups whose members would not care to spend any time together on a personal basis but who do leverage each other’s experience and skill effectively. The key seems to be mutual respect rather than affection. 4. Team satisfaction produces performance. We found no necessary correlations. When a group puts more energy into its own good feelings than into the task at hand, performance suffers. In one extreme example, an IT project manager was so concerned about morale that she would hold pizza parties when deadlines were missed so that people didn’t feel discouraged.”

ManagementTeamworkTeamworking
Book:The Entrepreneurial Mindset: Strategies for Continuously Creating Opportunity in an Age of Uncertainty
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