Roman terms do not exactly match our own here, but there was still a significant contrast between otium – normally translated as ‘leisure’, but more accurately ‘what you did when you were in control of your own time’ – and its opposite ‘negotium’, ‘work’, or ‘what you had to do when you were not in control of it’.
Marcus Junius Brutus, who emerges as an honourable patriot from Shakespeare’s Julius Caesar, was probably one of the most self-interested of the lot. He had an appalling record of exploiting people in Rome’s empire. Notoriously, he lent money to a city in Cyprus at a 48 per cent rate of interest, four times the legal maximum, and he had his agents blockade the local council chamber to recover what was owed, starving five councillors to death in the process. And within a couple of years of Caesar’s assassination, despite his opposition to monarchy, he had his own head depicted on the coins that he minted to pay his troops.
The empire, in other words, gradually destroyed the distinctive structures of government that had brought it into existence in the first place, paving the way for one-man rule. The empire created the emperors, not the other way around.
“What I think you’ve taught me most is how important it is to state the obvious.” Yes, it felt like a backhanded compliment. But what I think she meant is that I strive to make implicit structures and beliefs explicit. Making those elements clear to everyone allows a group of people to become a true team and a company to scale.
Another practice to consider is having a team snippets document that every team member completes each week. This way, you don’t have to take up meeting time with updates, but everyone has information about what the rest of the team is up to and the status of important work. If you lead a larger team or division, consider a weekly or monthly cadence of updates that you share with everyone on the team. Use this time to reinforce goals and priorities, celebrate wins, discuss challenges, and ask for ideas. Above all, use it to keep the team connected to you as their leader. Don’t be afraid to share personal anecdotes or photos.
“You know why playing a game is fun? Because it has rules, and you have a way to win. Picture a bunch of people showing up at an athletic field with random equipment and no rules. Someone is going to get hurt. You don’t know how to play, you don’t know how to score, and you don’t know how to win.” It’s critical for companies and teams to establish the playing field on which everyone participates and marks progress.
Many people believe a strategist’s primary job is thinking. It isn’t. The number-one job is setting an agenda and putting in place the organization to carry it out.
Purpose is where performance differences start. Nothing else is more important to the survival and success of a firm than why it exists, and what otherwise unmet needs it intends to fill. It is the first and most important question a strategist must answer. Every concept of strategy that has entered the conversation of business managers—sustainable competitive advantage, positioning, differentiation, added value, even the firm effect—flows from purpose.
Strategy—the system of value creation that underlies a company’s competitive position and uniqueness—has to be embraced as something open, not something closed. It is a system that evolves, moves, and changes.
A great strategy is more than an aspiration, more than a dream: It’s a system of value creation, a set of mutually reinforcing parts. Anchored by a compelling purpose, it tells you where a company will play, how it will play, and what it will accomplish.
you must confront the four basic questions you have already explored: What does my organization bring to the world? Does that difference matter? Is something about it scarce and difficult to imitate? Are we doing today what we need to do in order to matter tomorrow?
Most companies should do more of it. But there is a basic fallacy in confusing a financial plan with thinking about the kind of company you want yours to become. It is like saying, “When I’m 40, I’m going to be rich.” It leaves too many basic questions unanswered. Rich in what way? Rich doing what?
“Managers who get caught in the trap of overwhelming demands become prisoners of routines,” wrote Heike Bruch and Sumantra Ghoshal, in A Bias for Action. “They do not have time to notice opportunities. Their habituated work prevents them from taking the first necessary step toward harnessing willpower: developing the capacity to dream an idea into existence and transforming it into a concrete intention.”
Richard’s argument about OxyContin mirrored the libertarian position of a firearms manufacturer who insists that he bears no responsibility for gun deaths. Guns don’t kill people; people kill people. It is a peculiar hallmark of the American economy that you can produce a dangerous product and effectively off-load any legal liability for whatever destruction that product may cause by pointing to the individual responsibility of the consumer. “Abusers aren’t victims,” Richard said. “They are the victimizers.”
At the turn of the nineteenth century, an apothecary’s assistant in Prussia had conducted a series of experiments in which he managed to isolate the chemical alkaloids in opium and synthesize the drug. He named this new substance morphine, after Morpheus, from Greek mythology—the god of dreams.
But the original House of Sackler was built on Valium, and it seems significant, and revealing, that for the rest of his life Arthur would downplay his association with the drug, emphasizing his achievements in other areas and deliberately obscuring (or leaving out altogether) the fact that his first fortune was made in medical advertising.
“The doctor is feted and courted by drug companies with the ardor of a spring love affair,” one commentator observed. “The industry covets his soul and his prescription pad because he is in a unique economic position; he tells the consumer what to buy.”
