a phrase used to describe a situation in which a party is in the midst of activity, with much work remaining before an outcome can be determined, whether favorable or not; derives from the dynamics of American football, whose field measures 100 yards between the two end zones which teams attack or defend, respectively; as the yards are marked in descending 10-yard increments from either side of the central 50-yard line, to be within the 40-yard lines indicates that a team has battled its way to a middle position on the field (comprising 20 of the total 100 yards), with significant distance yet to cover in order to score; can be used to remind one’s colleagues that while favorable progress has been made, they must remain focused in order to complete the task at hand
I’m a management consultant and writer serving organizations both large (Fortune 500) and small (nonprofit) on a range of strategic issues
rock tumbling
to test a new or undeveloped idea or proposal through multiple interactions, with the intent of further refining the underlying thinking to ensure readiness for the next stage, as in “We’ll need to do some rock tumbling of this investment thesis before we present it to our investors”; derives from the process of polishing rough gemstones in a spinning tumbler, resulting in smooth and glossy end products suitable for decorative use; see also baked and crisp, which refer to the final state rather than the process of achieving it
jump ball
a scenario in which the likelihood of a particular outcome is roughly 50-50, as in “We don’t have a good sense of which banker they’re going to pick, it’s pretty much a jump ball”; from the mechanism used to start or restart play in basketball, in which the referee tosses the ball upwards in between opposing players who then attempt to win possession by tipping it in the direction of their teammates, with the assumption that both teams have roughly equal chances of succeeding; the phrase is not necessarily limited to circumstances with binary options; similar to toss-up
balcony time
a period of reflection during which one is removed from the normal hubbub of typical work activity, as if one has left a metaphorical dance floor and ascended the adjoining staircase to view the entire group of dancers; balcony time refers to the need to periodically remove oneself from small-scale tasks, such as dancing to a particular song, to focus on the overall mood of the party and ensure that all participants are appropriately engaged; more generically, used to ensure the big picture is not lost in the details; derives from a popular academic management metaphor of the balcony and dance floor; see also view from 30,000 feet
two-footed leap
to take a risky action with no possibility of undoing the decision if it turns out to be ill-advised, evoking the imagery of making a fully-committed jump across a chasm, hoping to land safely on the other side; used for complex or irreversible bets that an organization must take in order to survive, as in “I know the online-only strategy is new for us but we just need to make a two-footed leap here if we want to salvage the business”; compare to working without a net, which echoes the theme of commitment and focus in the face or risk or uncertainty
circular firing squad
a phenomenon in which advocates of the same cause began training their ire on each other instead of their external opponents; from the idea of a group of rifle-wielding individuals standing in a circle and pointing their weapons at each other, virtually guaranteeing that damage will be significant once the melee begins; the phrase is generally used as a lament by more sober-minded sympathizers who wish the group would focus its energies on defeating an opponent or advancing a policy agenda instead of battling internally; sometimes found in especially passionate political movements, where the term has unfortunately been more literal in its application
mist in the pulpit, fog in the pew
the idea that even minor confusion or shoddy reasoning at the top of an organization is amplified as it propagates downwards within a hierarchy, such that muddled thinking or messaging from senior leaders leads to chaos or paralysis among the rank and file; from the idea of a preacher speaking from the pulpit to the assembled parishioners seated in pews, who will not properly absorb and apply the message if the speaker is himself unclear about his thesis
take the lead on
a clever phrase often used by more experienced managers when they wish to delegate a menial task, as in “Why don’t you take the lead on putting together this document”; can translate to “I’m disinterested and probably not smart or energetic enough to work on this myself, so go do it”; often appears in utterly irrelevant settings, as in “Why don’t you take the lead on making dinner reservations for the team,” a manifestly silly request, since one is asked to ‘take the lead on’ something which doesn’t require leadership of anyone and on which they will be certainly working solo
How giving away value can create more
The Firm
Marvin Bower faced a critical choice. He had led McKinsey & Company from its earliest years, in the process helping to define the fledgling field of management consulting.1 Now nearing retirement age, it was time to hand the reins to the next generation of leaders. As the principal shareholder in the partnership, Bower’s ownership stake was a gold mine, appreciating to many multiples of its value since his joining roughly thirty years prior.
To cash out he could sell to a third-party buyer interested in taking over operations. Alternatively, he could require the current partners of the firm to buy out his stake at market value. This would involve significant indebtedness that could constrain future agility.
Bower chose a radical, nearly unprecedented path. When the time came for him to step down as managing director, he elected to sell his shares back to the partnership at their nominal book value instead of their true market price. In the process he would forego a massive windfall, while also setting an example that would reverberate throughout the organization for decades to come. For Bower, a one-time gain was not worth more than investing in the culture and health of the institution he had laboriously built up. Read more…
Innovation and hacking regulation
Network effects
The scrappy technology startup faced an existential threat. The company was down to its final arguments in the United States Supreme Court, where the ruling would determine its fate and if millions of invested dollars would be lost. The fact that Aereo existed at all was a byproduct of arcane telecommunications regulations, which had evolved over the decades along with the medium of broadcast television, which it intended to disrupt.
The American government mandated that over-the-air channels using the public airwaves be distributed for free.1 Their shows could be viewed by anyone with a basic antenna.2 This could be a clunky means of accessing television, as broadcasting is subject to the vagaries of weather and topography that interfere with the signal.
Cable and satellite providers stepped into the gap, becoming the preferred entertainment sources for many households. In addition to numerous specialty channels they always included the primary broadcast networks viewers demanded. The wrinkle in this arrangement arose from the fact that television providers had to pay over-the-air networks for the rights to carry their programming, even though a home viewer could presumably access the same content for free. Read more…
- Unlike in the United Kingdom and other countries, which have mandatory licensing fees payable by any household that owns a television or watches a live broadcast. ↩
- Or a coat hanger, or any other jury-rigged contraption capable of receiving a signal. ↩
- Add the fact that the majority of channels in cable bundle go unwatched, and that broadcast networks have some of the most watched programs anyway, and that cable bill seems like a bad investment. ↩
- If you’re under 25, just ask your parents what this was. Think DVD, but with lots more static plus mandatory rewinding. ↩
- Ah, but where’s the profit in that? ↩
I send a regular email on management, with a dose of humor to keep it interesting. Want in? Sign up below.