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I am often asked the difference between strategies, tactics, and operational decisions. Differentiating between these three types of actions is very important for running a business successfully.
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In December 1974 I was working as a waiter at le Castillion Restaurant in The Bonaventure Hotel, in downtown Montreal. At the time, le Castillion was one of the top restaurants in the city. Smoked salmon was cut and served at the table, Caesar salad prepared and tossed in front of dining customers, violinists serenaded patrons to celebrate their special occasions, and Cuban cigars available—to provide a special finale to a unique gastronomic experience.
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My parents taught me the importance of saying “thank you.” They passed the importance of appreciation along to me. Recently, when I read about a 2012 research study “Turning Thank You into Performance,” I thought how amused my parents would be to hear that “thank you” is now credited as one of the keys to corporate success! The study found that companies that provide ample employee recognition and appreciation have 31% lower voluntary turnover rates than companies that don’t.
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My mom was an excellent cook. Her recipes were simple but delicious. She used to tell me that her secret was using fresh ingredients, enjoying the cooking, being consistent, and not cutting corners. But what does this have to do with management? To a large extent, good management also relies on a few steps that, if performed well, will result in good business performance. Cut corners or engage in sloppy execution and the outcome will be poor.
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One of the most common things you hear people say today is that they are busy. I could not do this or that because I was busy. Sorry I forgot this; I was busy. I haven’t seen you in ages; I’ve been so busy. I want to find time for the things I like doing, but I’m so busy. But is being busy the same thing as being productive?
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I often wonder how we managed before the advent of cell phones. There was a time when we all had wrist watches to tell the time, a small notebook to write notes on the go, an agenda to manage our appointments, a paper map to know how to get where we wanted to go, a wallet with money, credit cards, and yes, of course, a landline telephone to call friends and associates.
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Tony’s business grew steadily after he developed a popular software solution for the restaurant industry. He’s added a couple of new apps and set his sights on expanding into the hotel sector. But despite his success, Tony began suffering from “Founder’s Syndrome” – a typical ailment of new entrepreneurs. Fortunately, it is curable.
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When I arrived in a leadership role at Dun & Bradstreet France, my first assignment was to put together a turn-around plan. The plan included lay-offs, which meant I had to get the approval of the union. Following my first presentation, the union head approached me. He said that although my talk was one of the best he’d ever heard, in his experience with my predecessors, there was always a “but”. So why should he believe my plan was any different? Why would it work when others had failed?
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When people think of a maverick, they typically consider someone who breaks the rules and perhaps is a bit of a rebel. The first “maverick,” in fact, was a rancher in the early 19th century called Samuel Maverick. This Maverick refused to brand his cattle like the other ranchers, thus his last name became synonymous with being independently minded.
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Do you have a cost-cutting or productivity-improvement mindset?
A Toronto hotel recently hired a woman in a new position as event manager. Her first assignment was to promote the lobby bar as a welcoming and happening place for guests as well as residents in the community. Eva found the bar cold and austere with its fluorescent lights and metal café tables. “I’m sure there are some things we can do right away to change the atmosphere,” she said. Her new boss agreed. “Just tell me what you need,” he replied, “and I’ll set a budget.”