Managing Flashcards
Unintended Consequences
Outcomes that are not the ones foreseen and intended by a purposeful action
Goodharts Law
When a measure becomes a target, it ceases to be a good measure
Preserving Optionality
A strategy of keeping options open and fluid, fighting the urge to make choices too soon, before all of the uncertainties have been resolved.
Tyranny of Small Decisions - Boiling Frog
A situation where a series of small, individually rational decisions can negatively change the context of subsequent choices, even to the point where desired alternatives are irreversibly destroyed
Weekly 1-1s
1–1’s can add a whole new level of speed and agility to your company
Forcing Function
A forcing function is any task, activity or event that forces you to take action and produce a result
Directly Responsible Individual (DRI)
A management concept, originally championed by Apple, that good things come if someone is explicitly responsible for something.
Pygmalion Effect
When higher expectations lead to an increase in performance
Emotional Quotient (EQ)
The capacity of individuals to recognize their own, and other people’s emotions, to discriminate between different feelings and label them appropriately, and to use emotional thinking to guide thinking and behavior.
Growth Mindset vs Fixed Mindset
Those with a ‘fixed mindset’ believe that abilities are mostly innate and interpret failure as the lack of necessary basic abilities, while those with a ‘growth mindset’ believe that they can acquire any given ability provided they invest effort or study.
Hindsight Bias
The inclination, after an event has occurred, to see the event as having been predictable, despite there having been little or no objective basis for predicting it.
Organisational Debt
All the people/culture compromises made to ‘just get it done’ in the early stages of a startup
Consequence vs Conviction
Where there is low consequence and you have very low confidence in your own opinion, you should absolutely delegate. And delegate completely, let people make mistakes and learn. On the other side, obviously where the consequences are dramatic and you have extremely high conviction that you are right, you actually can’t let your junior colleague make a mistake.
Loyalists vs Mercenaries
There are highly loyal teams that can withstand almost anything and remain steadfastly behind their leader. And there are teams that are entirely mercenary and will walk out without thinking twice about it.
