Stocking Stuffers

With  Christmas being upon us, we often scramble to find some small, last minute gifts that can be used as stocking stuffers.  This year, try something different. Why not give someone something old fashioned, like a book?  I mean an actual book in print and not a digital version of the book. Something they can hold in their hands.  I know, a quaint idea…. A book is a perfect stocking stuffer. 

So, If you are actively involved in management of any kind of organization, whether it is for profit, not for profit, or governmental, here is my reading list and ideas for last minute stocking stuffers.  They are listed in alphabetical order and not in suggested priority.  

The Beekeeper: Pollinating Your Organization for Transformative Growth by Katie Desiderio and  Michael Frino.  This is a wonderful and easy to read book describing how successful managers should run their organizations and treat their employees and colleagues.  The book is narrated by Catherine, the young founder of a business. A magical vacation experience transforms the way she leads her organization. Any manager will find this to be a thought provoking book.

Move: How Decisive Leaders Execute Strategy Despite Obstacles, Setbacks, and Stalls by Patty Azzarello. Discerning the proper strategy for an organization can be hard enough. Executing that strategy can be a whole different story.  Patty Azzarello, a successful consultant and business executive presents her ideas on how to get your organization moving forward. To be sure, this is not a book written for academics. Rather, It is written for the manager in the trenches who is trying to  execute strategy. This book  is a practical guide on implementing the organization’s mission and vision.

Noise: A Flaw in Human Judgement by Daniel Kahneman, Oliver Sibony, and Cass Sunstein. The authors of this book don’t need any introduction.  They are the Dream Team of Management Theorists.  Noise can be thought of as a sequel to Thinking Fast and Slow, Kahneman’s previous book on decision making.  Kahneman et. al. distinguish  between bias and noise. Bias receives all the attention, but noise can cause just as much variability in decision making. This is a well-written book that explains some difficult concepts in an understandable and accessible way. 

The Voltage Effect: How to Make Good Ideas Great and Great Ideas Scale by John List. Scalability has become a buzzword in the management community.  The author, a renowned academic and chief economist at Lyft and Uber, takes us on a tour of how to ramp up a small operation and make it larger.  List describes both the successful strategies for scaling and the pitfalls in trying to scale your organization.  It is a delightful book with many great ideas. 

All work and no play is not good for anyone.  So, if you are looking for pure pleasure reading on an offbeat topic,  I would suggest American Cosmic and Encounters, both written by Diana Walsh Pasulka.  These books discuss the UAP phenomena  from a fresh and interesting perspective. 

So everyone, good luck on beating the crowds in the shopping malls.  From someone who has always hated that, these books all have one advantage: you can order them from Amazon!

Have a great holiday season. 

Diversity and Inclusion in NFP Management

We have long known diversity and inclusion in NFP management are moral and ethical imperatives. Recent studies have also shown powerful decision science reasons why they are important.  Professor Daniel O’Connor and I had the pleasure of being faculty advisors to Delia Geyer, who completed her senior thesis in economics with honors at Moravian College in 2021. Delia’s topic was the CEO Pay Ratio, a topic germane to publicly traded companies. As part of her project, Delia also analyzed how certain social justice aspects affected the Pay Ratio, and indirectly corporate management.  Her findings on this topic are just as relevant to NFP organizations as they are to large public companies. Delia wrote::

“McKinsey and Company (2020) found companies with the greatest ethnic diversity on executive teams outperformed those with the least by 36% in profitability. They also found companies with more than 30% women on their executive teams were more likely to outperform those with fewer women on their teams (McKinsey and Company, 2020). Another study found Fortune 500 firms with the highest percentage of women on their boards outperform those with the lowest (Women on Corporate Boards (n.d.)). Companies with higher than average diversity percentages of their management teams report higher revenue levels than companies with less diverse management teams (Lorenzo, et al., 2021).” (Geyer, 2021, unpublished thesis, quoted with permission).

Why is this so? Several reasons come to mind.  James Surowiecki,in his bestselling book the Wisdom of the Crowds, noted that more information brought to bear on a situation results in better decisions but only if  the information from each source is independent from other sources. Having a diverse board and management helps ensure many independent viewpoints and information are considered in the decision making process.  

Another reason why diversity is important on the board is it minimizes the possibility of groupthink.  This phenomenon occurs when members of a group place harmony and agreement ahead of good decision making.  In such a situation, issues and information  are not adequately explored and silence is often taken as agreement. One cause of groupthink is a highly cohesive (read “non diverse”) decision making group.  A more diverse board will bring more and varied opinions to the fore, resulting in better decisions.  Diverse opinions are important, even if they only force the majority of the board and management to sharpen their reasoning about why their proposed decision is correct. 

NFP management take heed.  Diversity and inclusion initiatives are not only the right thing to do, but will also improve the operation of your organization!