![]() The next year the Japanese won by two miles. There was discussion of getting new paddles, canoes and other equipment, extra vacation days for practices and bonuses. ![]() It was called the “Rowing Team Quality First Program”, with meetings, dinners and free pens for the rower. They also implemented a new performance system that would give the 1 person rowing the boat greater incentive to work harder. To prevent another loss to the Japanese, the rowing team’s management structure underwent reorganization to 4 steering supervisors, 3 area steering superintendents and 1 assistant superintendent steering manager. They advised that too many people were steering the boat, while not enough people were rowing. Less than thrilled with the answer, North American management hired a consulting company and paid them a large amount of money for a second opinion. Their initial conclusion was a finding that the Japanese had 8 people rowing and 1 person steering, while the North American team had 8 people steering and 1 person rowing. The North Americans, very discouraged and depressed, decided to investigate the reason for the crushing defeat.Ī management team made up of senior management was formed to investigate and recommend appropriate action. On the big day, the Japanese won by a mile. Both teams practiced long and hard to reach their peak performance before the race. “A Japanese company and a North American company decided to have a canoe race on the St. My favorite (available from multiple sources, MBA implied): You use the term ‘value-added’ without falling down laughing. Your ‘deliverable’ for Sunday evening is clean laundry and paid bills. You decided the only way to afford a house is to call your fellow alumni and offer to name a room after them if they help with the down payment. You insist that you do some more market research before you and your spouse produce another child.Īt your last family reunion, you wanted to have an emergency meeting about their brand equity. You account for your tuition as a capital expenditure instead of an expense. None of your favorite publications have cartoons. Your favorite artist is the one who does the dot drawings for the Wall Street Journal. You start to feel sorry for Dilbert’s boss. Your three meals a day are a ‘morning consumption function’, a ‘noontime consumption function’, and an ‘even consumption function.’ You refer to your previous life as ‘my sunk costs.’ You calculate your own personal cost of capital. You believe you never have any problems in your life, just ‘issues’ and ‘improvement opportunities.’ You think it is actually efficient to write a ten-page paper with six other people you do not know. You write executive summaries on your love letters. You understand your airline’s fare structure. You decide to re-org your family into a ‘team- based organization.’ ![]() You ask the waiter what the restaurant’s core competencies are. Move to a small fishing village where you would sleep late, fish a little, play with your kids, take a late afternoon nap with your wife, stroll to the village in the evenings here you could sip rum and play your guitar with your friends." The American said, "Then you would retire. "When the time is right you would announce an IPO and sell your company stock to the public and become very rich, you would make millions." The American laughed and said that's the best part. To which the American replied, "15-20 years." The South Seas fisherman asked, "But, how long will this all take?" You would need to leave this small fishing village and move to Australia, then LA and eventually NYC where you will run your expanding enterprise." ![]() You would control the product, processing and distribution. Instead of selling your catch to a middleman you would sell directly to the processor, eventually opening your own cannery. You should spend more time fishing and with the proceeds, buy a bigger boat with the proceeds from the bigger boat you could buy several boats, eventually you would have a fleet of fishing boats. The American scoffed, "I am a Harvard MBA and could help you. The fisherman said, "I sleep late, fish a little, play with my children, take a late afternoon nap with my wife, Helia, stroll into the village each evening where I sip rum and play guitar with my friends, I have a full and busy life." The American then asked, "But what do you do with the rest of your time?" The Islander said he had enough to support his family's immediate needs. The American then asked why didn't he stay out longer and catch more fish? The Islander replied, "Only a little while." The American complimented the Islander on the quality of his fish and asked how long it took to catch them. ![]() Inside the small proa was a dorrado several large grouper. The American businessman was at the pier of a small South Pacific Island village when a small proa with just one fisherman docked. ![]()
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