Let’s say you have two options. If you press the blue button, you will receive 1 million USD, and if you press the red button, you will receive 10 million USD, but the probability of winning is 50%. Which button would you press? If pressing the blue button is business, pressing the red button is gambling. In other words, depending on your attitude toward the relationship between risk and reward, we can determine whether we are suitable as managers. But if you press the red button with a 50% chance of winning and you don’t win, and you have to pay a fine of 1 million USD, would you still press the red button? The relationship between risk and reward influences people’s behavior. Business is about creating a structure that is advantageous to me, and building a system in which the structure continues to benefit me is called management. - Joseph’s “just my thoughts”
Leaders delegate, while bosses manage. Organizations that have numerous meetings and extensive reporting are led by bosses, not leaders. Another factor contributing to this phenomenon is that the work being performed is viewed not as a product but as a project. Product work emphasizes customer experience, whereas project work relates to compliance deadlines. Consequently, project work involves many meetings and reporting. Dysfunctional organizations are characterized by excessive meetings, while successful organizations prioritize conversations over meetings. - Joseph’s “just my thoughts”