The Effective Executive

• Format: Kindle Edition
• File Size: 298 KB
• Print Length: 178 pages
• Publisher: HarperCollins e-books; Revised edition (September 10, 2002)
• Sold by: Amazon Digital Services
• Language: English
• ASIN: B000FC11JW

Drucker talks about the executive in the context of working in an organisation.

The irony of the organisation lies in the fact that instead of being a means to an end, the organisation works to its own survival. Over time as any young organisation grows old and large, it tends to focus more inward than outward in contribution. Drucker debates upon working as an executive to achieve a balance in working for the survivability of the organisation versus real contribution as a whole.

The realities of being an executive in an organisation:

1. Your time belongs to others

2. We are dictated by events and not, ideally the other way round.

3. Contributions are effective in context of usefulness to others

4. The organisational demands of work does not accurately reflect and meet the actual needs of the outside world.

His core premise is that effectiveness can be learnt. Effectiveness is a habit which needs to be practised. Key features of effectiveness are as follows:

• Time-awareness
  Time wasters arise from
  - lack of system and forsight
  - overstaffing
  - mal-organisation via excessive meetings (less time for work)
  - Information malfunction (communication)
  
  To manage time well, we
• Record
• Manage systematically
• identify and eliminate the unnecessary
• delegate or relinquish activities that can be done by others effectively
• ask feedback on how one wastes others' time
• Consolidate - Set aside, analyze, prune allocat
  
• Focus on Contribution - mindset shift from procedural to conceptual
• Assume responsibility for results
• Understand what is needed

Organisations need performance for

- Direct results

- Building values and their reaffirmation

- Succession planning

Effective human relations can be achieved via

- communcations

- teamwork

- self-development

- development of others

• Building on Strengths - focus on attitude and practice
  "There are no all-rounded people"
  "Feed opportunities, starve problems"

Staffing for strength

- Don't assumre that jobs are natural; jobs are man-designed and can be flawed

- Make jobs big and demanding to draw strength and for passion-finding

- Appraise for strength and not weaknesses

- Staff opportunities and not problems (make weakness irrelevant by focusing on strengths)

Managing bosses

- Do what is right

- Make bosses effective and perform

• Concentrate - First things first
  - Discipline
  - Concentration (courage to do so)
  - Focus on tomorrow; don't spend today doing yesterday's work

Priorities - we usually plan beforehand (usually too much) but postphone and abandon later

Posteriorities - deciding what NOT to tackle

• Decision Making

Elements

- Exception (no rules - more decision thinking) or generic (following principles/rules and minor adaptations)?

- Clear specifications for decision accomplishment (boundary conditions)

- Do the necessary and right, not compromise

- Action

- Feedback

In reality, effective decisions is the making judgements of opinions than facts. There is a need to disagreement first before there is a proper understanding. Disagreements break preconceptions, bring out alternatives, simulate imagination.

The Richest Man in Babylon

• Paperback: 160 pages
• Publisher: Signet (February 3, 2004)
• Language: English
• ISBN-10: 0451205367
• ISBN-13: 978-0451205360
• Product Dimensions: 6.7 x 4.2

Clason wonderfully puts down the principles of wealth management in parables. There are a lot of repeated reinforcements to strengthen the concepts as the average reader easily devours this small but substantial book.

My summary of the book will follow the chapters:

1) The story tells of the difference between the rich and poor. The difference does not arise from physical looks, IQ or skillsets but rather, having the knowledge of wealth management.

2) You decide what to do with what you earn.

- Hard work is not everything

- Save at least 10% of earnings

- Invest the savings in someone who knows his stuff to make the investment work for you

- Depend not on brute will power but shrewdness too.

- There is no such thing as finite wealth; everyone can always earn more

- Don't deprive yourself too much, enjoy life too as that is what we work for.

3) 7 cures for the lean purse

- Save 10% of earnings. One can always find that one can do with 10% lesser. The feel of a fuller savings purse further motivates.

- Budget and control expense. This practices delayed gratification

- Multiply by having income streams

- Stop loss or prevention; better safe than sorry. Always consult the wise.

- Always own a home

- Insure future income

- Increase the ability to earn, gain respect and improve self

4) Luck is defined as action on opportunity

- focus on expertise

- don't let opportunities go

5) 5 Laws of Gold

- Save 10% (again!)

- Put savings to generate income

- Protect principle by being safe and putting them in safe hands

- Don't be hasty for quick bucks

- Avoid unfamiliar businesses

6) The importance of protection of principle

- Helping others should not cast a burden onto self.

- Have a form or security when you lend

- Make sure the other is adequately skilled/prepared to pay (or make him prove it)

- What you lend is rightfully yours and yours to decide with it.

- Keep your money safe

- Multiply your money

- A litte caution is better than great regret

7) Insurance - we can ill-afford to be without adequate protection

8) Determination determines our way; desire forms our foundation for wealth

9) For the bankrupts

- pay back slowlyby setting more aside and making agreements on timeline

- the result will be that one will be a better man with better wealth management skills

10) Work is always to be enjoyed and will always prove to be the best option one can take in earning one's wealth.

11) This chapter gives a historical sketch of Babylon in its richness, more of its wisdom than actual wealth.

The Asteriod Wars Series by Ben Bova

A tri-book sci-fi series by Ben Bova tells about a ruthless magnate, Humphries, trying all means to gain monopoly of the Asteriod Belt for commercial means. This is painted with a backdrop of the earth disintegrating under a new world order and adverse climate change.

Humphries is opposed by a variety of characters, most notable is Randolph who appeared in Bova's other books, throughout the 3 book series.

The Precipice sets the stage of venturing into the Belt. The Rock Rats reveals the struggles of prospectors at the belt with particular attention to Humphries' love and his rival, Lars. The Silent War continues the rivalry after the apparent defeat of Lars and the silent rise of a 3rd empire coming in between the competing Humphries and Astro.

A good series to read if you are an ardent fan of sci-fi and space exploration. Well painted with potential reality of the future of mankind.