change management

Charlie Munger on Incentives

Trying to solve a problem that involves human behavior? Take a few minutes and read this interview with Charlie Munger, the Vice-Chairman of Berkshire Hathaway (among many other roles). Through his research and experiences with businesses and workers of all forms, he’s come to recognize the importance of incentives. While the focus of this interview was on the psychology of misjudgment (especially in financial matters), it provides many lessons for marketers, managers, and analysts.

 

Improve Innovation Adoption: 5 Simple Tips

No matter the size of the change effort you're hoping to deliver, poor communication can stop the change from being successful. It may be tempting to think that resistance will below and you'll be met by a team urgently awaiting the change, but that's not likely. The facts are, that change is hard and it's hard to predict how people will respond. Consider your change effort as any marketing effort. You need to know your customer, build support, identify your champions, and clearly explain the impact. Look at the change from the perspective of those who would be impacted, and you'll be headed in the right direction.