Tag: shoulders of giants

  • The Power of Synergies

    The Power of Synergies

    An oil and gas industry group, the U.S. Energy Workforce & Technology Council recently released a survey which stated, “companies with a higher percentage of women in executive positions have a 34 percent higher total return to shareholders than those that do not and companies with ethnic diversity on their executive team are 25 percent more likely to have above-average profitability and 27 percent likelihood of outperforming peers in value creation.”  This is a powerful statement!

    Frankly, this should come as a surprise to No One.

    On the Shoulders of Giants

    While not the first time, a well known diversity/inclusion synergy occurred during World War II on the American side.  The Tuskegee Airmen were a group of fighter pilots largely composed of Black men whose mission was to protect bombers (most manned by White men) whose mission was to help defeat Nazi Germany.  According to the US National Park Service, “The airmen flew over 180 combat sorties (missions) without losing a single bomber.”  While many held their prejudices, one cannot deny the success of the “Red Tails” which led to some minds being changed.

    In another high impact case, Vivien Thomas an African American medical lab assistant to a white physician, was instrumental in the pioneering work at the dawn of cardiac surgery.  Together, they developed a procedure to save infants with the Blue Baby Syndrome.  Mr. Thomas is credited as playing a pivotal role in this and other surgical processes.  Likewise, this history has been made into a movie, ‘Like Something the Lord Made.”

    Such a list would be remise if it did not include the women of Hidden Figures.  In an era of segregation (ethnic and sex), these Black women were entrusted with the human ‘computing’ of the complex mathematics necessary at the beginning of the United States (NASA) efforts to launch astronauts into space, ultimately the moon as well as the Space Shuttle.  One can surmise that President Kennedy’s commitment to get to the moon by the end of the decade could not have been met without this team.  Watching the movie, Hidden Figures is worth your time.

    There are many other case studies where a diverse group of people have worked together and significantly contributed to the advancement of human kind.  There is no reason to believe this will not continue.

    Governance

    Post Enron and other corporate malignancies, the question of good corporate governance needed to be addressed.  One approach was The Sarbanes Oxley Act of 2002.  Largely, this act spoke to financial management and reporting.

    However, another phenomenon was noticed that same year.  “McKinsey & Company in conjunction with the Global Corporate Governance Forum conducted a study and found that over 75% of over 200 fund managers would value a stock at a higher price point if the company could demonstrate it had strong governance in place.  Moreover, the study also revealed that for western markets, firms with strong shareholder rights averaged 12-14% higher stock prices.”  This 20 year old study is a powerful statement as well.

    We discuss this point in more detail in our June 21, 2022 blog, Why Corporate Initiatives Fail.  Interested parties are invited to review that material for more details regarding governance models and similar issues such as ESG.

    Capitalizing on Synergy

    Cambridge Dictionary defines synergy as, “the combined power of a group of things when they are working together that is greater than the total power achieved by each working separately.”  This definition says it all!

    Individuals such as the Tuskegee Airmen and Hidden Figures ‘flew’ the way for today’s successful team synergies.  Not just the energy sector but all sectors are benefiting greatly from the work of pioneers and can enjoy the financial and social results of diverse teams.

    There is clear evidence that well run and governed organizations add higher value to their stakeholders.  These organizations take advantage of all the talents at their disposal.  Therefore, as my math professor used to say, ‘it follows that synergic firms are leaders in their sectors.’

    How is Your Organization Capitalizing on the Power of Synergies?

    For More Information

    Please note, RRI does not endorse or advocate the links to any third-party materials herein.  They are provided for education and entertainment only.

    The author’s credentials in this field are available on his LinkedIn page.

    For more information on Cross Cultural Engagement, check out our Cross Cultural Serious Game.  You can contact this author as well.

    Interested parties can also find more information at the Tuskegee Airmen Inc. (TAI) website.

    For those start-up firms addressing energy challenges, the author is a member of Global Energy Mentors which provide no-cost mentoring services from energy experts.  If interested, check it out and give us a shout.

  • THE SCIENCE: The Reason We Need STEM

    THE SCIENCE: The Reason We Need STEM

    Almost every day, we hear that “The Science” says . . .  We are told Covid-19 and Climate Change are based on The Science and as such we must accept that expert analyses as ‘settled.’  Then something changes and once more the science police demand we accept their new interpretation.

    The near-term result: confusion and lack of trust, even acrimony.  The Science, as presented by the media, politicians and others is a static solution.  As we follow The Science, we are told we must adjust but not necessarily why.

    There is no reason to trust to fate or our political betters (call themselves elites).  The Science is not that mysterious.  The term is meant to deride most of us, including degreed scientists like this author.  Might want to ask those pontificating to define the ‘Scientific Method.’

    Set at the beginning of the 20th Century Space Race, the movie, Hidden Figures brought broad attention to the mathematical genius of a group of then unknown women.  They were instrumental helping the fledgling NASA achieve the early goals of manned space flight, including the lunar landings.  They understood The Science better than others.

    On the Shoulders of Giants

    With the social deck stacked against them, these women rose above the norms of the time and accomplished feats unknown and certainly unexpected by contemporaries.  Perhaps more importantly, they demonstrated that math and science is not reserved for elites.  They educated all of us.

    We live in a technological age and told shortly everything will be ‘Smart.’  The workforce will change, and our view of the world will be dramatically different.  Moreover, many of us will no longer be relevant or even employable.  Balderdash!

    Science, Technology, Engineering, and Math (STEM)

    STEM is the anacronym for the set of technical knowledge embodied in these ‘hard’ disciplines.  Collectively, they form the backbone of our 21st Century economy and social advancement.  While liberal arts disciplines are important, STEM knowledge is critical if we are to hold the ‘experts’ accountable.

    Increasingly, ‘soft’ or social skills are also seen as important.  The old concept of the ‘Nerd’ is giving way to the technologist with human empathy.

    The emerging generation(s) will need STEM expertise as well as soft skills.  In some ways this is no different than previous times when the Titans of Industry changed their world.  Building on new technologies, they built business.  A successful business requires a knowledgeable workforce that can monetize technology.

    The titans this time are everyday men and women, even juveniles.  Knowledge of STEM subjects is dictating individual success or failure.  Get on the STEM train.

    Role of R B C

    We have routinely commented on the Relationships, Behaviors, Conditions model first put forth in the 1990s.  From a previous blog, “One of the basic tenets of the RBC Framework is the general construct that Relationships cannot be determined a priori.  The well-used example is a man and a woman sitting on a bench at a bus stop.  Are they married, siblings, coworkers, friends or simply two people waiting to catch the same/different bus?

    Their relationship cannot be known directly.  However, their Behaviors will provide insight into how they relate to each other.  Romantic behavior may indicate marriage, dating, an affair etc. They may still be coworkers but most likely are not strangers.

    The third dimension, Conditions (environment) can be considered the stage upon which behaviors play.”

    One can make the case that STEM is a condition or situation.  In other words, our technology environment.  The behavior of individuals with these skill sets will determine the relationship these individuals have with their peers, customers/business ecosystem and economy/society in general.

    Finally

    We spend a lot of time, quoting “The Science.”  Most vocalizing the term are not scientists or even qualified to understand its basic tenets.  But taken as gospel because of some perceived authority, i.e., politicians, newscasters, celebrities and bureaucrats among others.

    This scientist suggests that STEM is necessary to assure the emerging generations understand “The Science” and how it can actually be used to benefit mankind.  And, oh yea and make a buck!

    Where does STEM fit in Your Organization’s Strategy?

    For More Information

    Please note, RRI does not endorse or advocate the links to any third-party materials.  They are provided for education and entertainment only.

    For more information on Cross Cultural Engagement, check out our Cross Cultural Serious Game

    We presented, Should Cross Cultural Serious Games Be Included in Your Diversity Program: Best Practices and Lessons Learned at the Online Conference, New Diversity Summit 2020 the week of September 14, 2020.  Check Out this timely event and contact the organizer for access to the presentations!!

    You can contact this author as well.

  • Lessons from the Seventies

    Lessons from the Seventies

    At lunch the other day and for whatever reason, the history of the 3M Post It Note became a subject of our conversation.  This technological marvel unveiled in the 1970s is still widely used today.

    As with other new or disruptive technologies, the ‘sticky note’ was panned at first and for some time.  According to Wikipedia, the technology was first developed in 1968.  It was not until 1974 that it gained some internal company support.

    When finally introduced in 1977, the pilot results were unsatisfactory.  However, things started to change in 1978 when a small (focus) group of consumers were positive about the product.

    The United States roll-out began in the spring of 1980, followed by Europe and Canada in 1981.  A bit of trivia, the reason it was originally yellow was because yellow colored scrap paper was readily available at its inception.

    Earlier the day of our lunch meeting, a discussion revolved around how long it might take an idea to become a fundable start-up company.  Several participants argued that with proper guidance, the process still might take up to two years.  This pundit argued that many entrepreneurs would see that as too long and become disinterested.

    The legacy of the Post It Note suggests that this pundit might be incorrect.  The lowly sticky note did not even begin its journey to become a Unicorn until twelve years after its technology was discovered.

    In 2015, we penned a blog, Titans of the 1940s Today.  The basic premise of that piece was when commenting about the Internet of Things (IoT) and its complexity, individuals such as Richard Feynman and John von Neumann (father of the 1945 computer architecture that is the basis of modern computing) had developed solutions for today prior to this author’s birth.

    We stand on the shoulders of these and other giants.  The challenge of every generation has been to build on what those who came before advanced.  So it remains today!

    Body of Knowledge

    Human kind has developed a rich body of knowledge in all areas of endeavor.  It is readily available for entrepreneurs as well as those employed by all types of organizations.  This knowledge base has been addressed in this blog and other writings by the author.  Interested readers are invited to review my blogs and newsletters dating back to the last century.

    Our march through history provides all of us a ‘go-by’ that can shorten our learning curve.  One example this author often cites is the depth of historical knowledge of management.  Contrary to many gurus, humans have managed others and processes for many millennia.

    Fail Fast, Fail Often?

    If 3M or Feynman et al practiced this technology development model as most interpret it, our world might be a lesser place.  Give up and move on to the next?

    One interpretation suggests, “Originating from Silicon Valley and its ocean of start-ups, the real aim of “fail fast, fail often,” is not to fail, but to be iterative.  To succeed, we must be open to failure—sure—but the intention is to ensure we are learning from our mistakes as we tweak, reset, and then redo if necessary.”

    This same article goes on to state, “Thomas Edison, by example, ‘failed’ 9,000 times before he was successful with his light bulb invention.”  Perseverance can be a lonely quality!

    Don’t lose heart.  Great ideas abound but must gestate.  It is often said that we find our soulmate when we least expect to—I know I did.  Progress is an iterative process fueled by creativity and critical thinking.

    Is Your Idea a Unicorn Waiting to be Born and Mature?

    For More Information

    Please note, RRI does not endorse or advocate the links to other materials.  They are provided for education and entertainment only.

    You can contact the author more information as well.

    End Notes

      https://en.wikipedia.org/wiki/Post-it_Note

      https://therrinstitute.com/wp-content/uploads/2018/10/Titans-of-the-1940s-Today-April-20-2015.pdf

      https://therrinstitute.com/wp-content/uploads/2019/10/1993-Management-Theory-Evolution-Not-Revolution.pdf

      https://www.forbes.com/sites/danpontefract/2018/09/15/the-foolishness-of-fail-fast-fail-often/#1db35b0e59d9