The Weekly Minute - Jan. 20, 2023

What I’ve Read This Week

1. Sticking with Strategy (via Roger Martin)

1. How can an organization stick to its strategy when it must wait a decade for clear sign that the strategy might produce the targeted outcomes and a decade and a half for the targets to be hit?

2. There are four things you can do ‘to know when to hold ’em and know when to fold ‘em’.

1. Have a Clear Strategy

2. Leverage Your What Would Have to be True (WWHTBT)

3. Patiently Watch for Green Shoots

4. Defend It Against Self-Defeating Slippage

2. What do hotels and hospitals have in common? How we can learn from the hotel industry to take better care of patients (via National Library of Medicine)

1. What are the take-home messages for the hospital from the hotel industry?

   1. Work hard to improve the first 15 minutes of a patient's experience, which is critical to the overall customer experience.

   2. Stress the importance of enhanced communication with patients and their caregivers throughout their hospital stay.

   3. Track patients’ level of satisfaction on an ongoing basis and intervene as soon as possible when problems arise.

   4. Follow-up with our patients after they are discharged from the hospital to obtain feedback that can then be used to improve future performance.

   5. Management should aim to create an environment where all hospital employees are happy and productive so that they can take the best care of their patients.

3. The Eight Secrets To a (Fairly) Fulfilled Life (via The Guardian)

1. After more than a decade of writing life-changing advice, here’s what Oliver Burkeman learned…
   

A New Framework

• The 3 Horizons Model (via Board of Innovation)

  • What is the 3 horizons model & how can you use it?

  • The 3 horizons model is a growth strategy framework by McKinsey that you can use to think about the future of your company. It can help you manage growth in a coordinated way. The 3 horizons model should only be used to set or challenge a growth strategy, which will help inform an innovation strategy.

  • Looking at it, you’ll notice that the model has an axis of TIME and an axis of VALUE (sometimes labelled profit). The 3 horizons are simply 3 S-curves that occur one after the other, representing each innovation project.

One Quote

“School: your paper must be a minimum 5 pages. 

Real world: explain it to me in seven seconds or I'm out of here.” - Morgan Housel 

Book I Just Finished Reading: 

• The Calling: A Memoir of Family, Faith, and the Future of Healthcare
  

Books on My Bookshelf (On-Deck)

• The Crux: How Leaders Become Strategists

• Influence - The Psychology of Persuasion

• Crossing The Chasm

• The Advantage

• A Course Called America
  

Misc. Thought

A thought of mine, on brand:

A Brand = Promise = Expectation

Can you see Hyatt get into the shoe business? Not really.

Can you see Nike get into the hotel business? Yeah, I can.

That’s brand.