Early in her career at Apollo Hospitals, Preetha Reddy, then aged 30, went to question a senior doctor. Affronted about being interrogated by a manager half his age, he quit the next day. It taught Ms Reddy, now managing director of the Indian healthcare group, to practise “the art of listening” before confronting a more experienced team member with new ideas.
Graves at the Père-Lachaise-cemetery in Paris
I’ve been wondering about the most suitable place to commemorate the death of the Omnicom-Publicis deal. How about Père Lachaise cemetery in Paris, where Oscar Wilde and The Doors’ Jim Morrison are buried?
A photo of Maurice Lévy and John Wren, respectively the bosses of Publicis and Omnicom, thumbing their noses at each other against a backdrop of moss-covered tombs would be just as appropriate in its way as the infamous deal-announcement image of the two men toasting one another, with the Arc de Triomphe in the background. Read more
The recent history of Britain’s Co-operative Group is so peculiar it is tempting to paraphrase the opening lines of Anna Karenina – “Happy companies are all alike and every unhappy company is unhappy in its own way” – and dismiss it as a management aberration.
Managers are notorious for prioritising short-term demands when they clash with long-term goals. Research in the US has shown that most executives would shy away from a value-enhancing long-term project if it caused them to miss a quarterly earnings forecast.
How companies can manage such clashes was the subject of a “Strategy Live” debate organised by the Financial Times in London this morning. Chaired by management editor Andrew Hill, the session featured senior figures from finance and industry, who spoke on a non-attributable basis under the Chatham House rule.
Participants used the example of Barclays to launch a broader debate, examining its controversial decision to increase bonuses to its investment bankers even as it – seemingly paradoxically – tried to move to a less abrasive, more long-termist culture. Read more
Rajeev Suri, newly appointed head of Nokia, has plenty to tackle at the Finnish group, but one challenge relates to the part of the business he no longer oversees – the handset business that has finally transferred to Microsoft’s ownership.
As head of Nokia Solutions and Networks, Mr Suri developed the telecoms equipment business, which now makes up the largest part of “new Nokia”, more or less autonomously from the devices business. Its culture is likely to dominate the Finnish group as it now evolves. But what of the deep-rooted residual link with the handsets in our pockets?
Even if the Nokia brand is quickly stripped from smartphones, I wonder whether the Finnish group will experience the business equivalent of “phantom limb syndrome” – twitching and wincing as though the amputated devices arm is still attached to the rest of the body corporate. Read more
I am sitting in a packed conference room, somewhere in the heart of London’s financial centre, in an office I have sworn not to identify. It is quiet for a midweek lunchtime. In fact, it is silent. Along with the ex-chairman of a blue-chip company, a handful of executives and board members, a former senior central banker, a Buddhist software engineer, a Benedictine monk and 60 others, I am meditating. Or trying to.
Researching my latest column about the management benefits of mindfulness and meditation, I came across a priceless FT article from 1957. Headlined “Keeping Managers Healthy”, it warns about the “effects of stress and strain on top-level executives” and concludes, gravely, that a number of executives “break the most important rule of all – which is not to ‘keep in touch’ with the company while ostensibly on holiday”.
The article contains this cut-out-and-keep list of 10 “do’s and dont’s”, distilled in part from “what one oil company advises its men [sic]“: Read more
Lesson Two: ensure your predecessor is dead or distant (photo: Getty)
Good morning and welcome to the new Harvard MBA module on sports management. I’m assistant professor David Moyes. Read more