Kept alive by regulators, these lending institutions are as dangerous as a horde of living dead. The McCombs School of Business presents a chilling tale from Senior Finance Lecturer Michael Brandl.
You see them every day, but nobody knows where they came from, what they do, or who they even are. To their managers, they might as well be dead. University of Texas Communications and Business Professor John Daly tells the spooky tale of the Ghost People.
Key #7 Unique Vision Do you sound and look like all your competitors or do you stand out, following a unique path that is true to your enterprise and yourself? Does the enterprise know what its purpose is, and is it true to its soul, true to itself? Hoover believes that Apple is the only hardware manufacturer that has its act together, and it’s because they are true to themselves. They do not try to copy anyone else. Key #8 Passion Hoover’s last key to a successful enterprise is passion. He says if you aren’t doing something you love, you will never be the best at it. If you can find something you love to do that intersects with real needs of real people, that’s the sweet spot.
Key #6: SERVICE Hoover believes the only valid reason for the existence of any enterprise is to provide goods and services to people, to somehow make the world a better place. The minute an enterprise forgets that, it’s all over with. The minute you think that power resides in the boardroom or in Washington, or that your company can be made great through acquisitions, rather than by focusing on customers, you are most likely at the beginning of the end.
Key #5 is Consistency of Vision. Do you stick to what you are good at and what you believe in, through thick and thin? Do you have a consistent purpose? Hoover says many great American enterprises decayed because they forgot their purpose. Truly great enterprises, like Caterpillar, John Deere, UPS and Target, tend to do one thing or a very few things incredibly well - over and over again. The day-to-day tactics and business practices can change daily, but the heart and soul of the business stays in the same place and rarely changes
Key #4: Communicating with Clarity of Vision The whole idea of leadership is to bring people together. You do that by making sure people understand what you are saying. Hoover’s rule, when you have a new business idea, is to make sure your grandmother or any reasonably bright sixth-grader can understand it. He’s never seen a venture capitalist that was insulted by the fact they could understand what you were talking about.
Key #3 Sense of Geography We live in a shrinking world, so it is more important than ever to understand people and places. People who build great enterprises have an understanding of geography and what’s going on around the world.
http://blogs.mccombs.utexas.edu/mccombs-today/gary-hoover-video-library/ Gary Hoover is Entrepreneur in Residence at McCombs Business School and mentors 100s of entrepreneurs at UT and Austin. Gary plays a unique role in the Austin Entrepreneur Scene, bridging UT with the broader Austin entrepreneur communities. http://hooversworld.com
http://blogs.mccombs.utexas.edu/mccombs-today/the-film-business/ Video games and film-making collide in the realm of Machinima, an emerging medium dominated by the cult web series Red vs Blue Series creator Burnie Burns pulls back the curtain for a look inside this brave new world where producers can reach their audiences directly.
http://blogs.mccombs.utexas.edu/mccombs-today/lingo/ McCombs Professor of Management Janet Dukerich explains how both parties can benefit from an integrative, or “value creating” model of negotiation.