12. Change happens Subjective value Pride goes before a fall Trust matters Buy low, sell high Smarter than anyone ≠ smarter than everyone Innovation drives markets People crave fulfillment
20. 2007 Index of Economic Freedom 1. Hong Kong 2. Singapore 3. Australia 4. United States 5. New Zealand 5. United Kingdom 7. Ireland 8. Luxembourg 9. Switzerland 10. Canada 11. Chile 12. Estonia 13. Denmark 14. Netherlands 14. Iceland 143. Bangladesh 144. Venezuela 145. Belarus 146. Burundi 147. Chad 148. Guinea Bissau 149. Angola 150. Iran 151. Republic of Congo 152. Turkmenistan 153. Burma 154. Zimbabwe 155. Libya 156. Cuba 157. North Korea Wall Street Journal/Heritage Foundation ranking of 157 countries Top 16 Bottom 16
39. “ The most pathetic person in the whole world is someone who has sight but no vision.” Helen Keller
40. The MBM Framework Value-creating entrepreneurs Rule of law, principles culture Property rights Freedom of contract Prices, profit, and loss Vision Virtue & talents Decision rights Incentives Knowledge processes
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42. Knowledge and Skills Values and Beliefs Consistent with desired culture Inconsistent with desired culture 4 2 1 3 Inadequate for job expectations Adequate for job expectations
51. The MBM Framework Value-creating entrepreneurs Rule of law, principles culture Property rights Freedom of contract Prices, profit, and loss Vision Virtue & talents Decision rights Incentives Knowledge processes
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55. Comparative Advantage “ Are you working on the thing that you are best at?” (Gallup) “ An army of one.” (U.S. Army)
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57. The MBM Framework Value-creating entrepreneurs Rule of law, principles culture Property rights Freedom of contract Prices, profit, and loss Vision Virtue & talents Decision rights Incentives Knowledge processes
65. The MBM Framework Value-creating entrepreneurs Rule of law, principles culture Property rights Freedom of contract Prices, profit, and loss Vision Virtue & talents Decision rights Incentives Knowledge processes
78. "It is a common delusion that you make things better by talking about them." Dame Rose Macaulay
79.
Editor's Notes
We believe the evidence points to this… Economic freedom is ??? (working on definition) [Note: See Heritage Foundation’s web site (www.heritage.org) for more information on this index. You can see data from past years and compare. You’ll also get a better feel for what is meant by “economic freedom”] The Heritage Foundation conducts ongoing research and updates this list every year. They study and rank areas such as: Property rights (ability to own private property, is it protected?) Trade (amount of, how much regulation?) Level of government intervention There are various types of freedom, such as political freedom and social freedom, that we could argue are important and as individuals we value as well. As you can imagine, there can be a connection between the amount of political freedom and the amount of economic freedom, but here is what history and evidence shows… (click) N. Koreas is STILL #157 in 2008 ; U.S. dropped to #5 in 2008 S. Korea was #40 in 2007
After example, [click] to next page for principle 4.
Do you know how old Drucker was when he said that? 91 years old. Now list how you can make your services obsolete PETERS VIDEO Constraints Enablers
Vision provides coordination Instead of telling people what to do, tell them where we are going - provide general rules (like traffic) Movie/song How can we make vision more like this? 1. Challenging but achievable (Kennedy to moon, but not Pluto 2. Desirable/meaningful 3. Decision-oriented (Microsoft) 4. Future-oriented (not just status quo, but also open-ended) Can vision limit us? (RR, KI offshore oil rig, NASA - material to withstand 14K F. for 5 min. (impossible) vs. protect humans for 5 min. --> ablation system Our vision helps us make our daily decisions
Sound familiar?
Which shape best represents our efforts to build a common culture?
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