29 Jul

Executives at many companies often become what I call “prisoners of the past.” There has been a decision made in the past, by them or somebody else, to choose an investment. This reluctance to make critical decisions due to past investments can have significant consequences. The past investments are typically considered “sunk costs” and should not be part of any investment decision. It may require the executive to admit that the prior decision was sub-optimal or a mistake, or that it is not practical anymore. This may cause the executive to “lose face” in front of their subordinates and the...

22 Jul

The thought has occurred to me that we trust “experts’ to judge hiring, promotions, selections for athletic teams, qualifications for music programs, and other critical life-altering decisions, but what happens when these decisions are questionable? People who are not accepted may choose to continue to pursue those goals, or they may give up. Then, we would never be aware that these people had exceptional talent. I have been reading Elton John’s autobiography, titled “Me,” and read of an incident early in his career.  He and his songwriting partner Bernie Taupin submitted some songs they had written to a studio manager named...

16 Jul

“The Greatest Obstacle to Discovery is Not Ignorance – It is the Illusion of Knowledge”1 Our local high school, Adlai E. Stevenson, in Lincolnshire, IL, is consistently one of the highest-rated secondary schools in Illinois. The administration stresses academic excellence and annually produces many national merit scholars. My children attended Stevenson High School in the late 1980s and 1990s.  I spoke with Deputy Sheriff Perry Coleman of the Lake County (IL) Sheriff’s Department during this time. We discussed many topics, including the illegal drug problem that was plaguing many high schools.  The Stevenson Superintendent declared that there wasn’t a drug problem. When I asked...

09 Jul

Pausing AI Development Is Not Feasible Many in politics, academia, technology, and the media have recently called for a cessation or pause in Artificial Intelligence (AI) development. Their concern is that AI can be so disruptive that it can harm people’s lives, especially regarding employment.  Perhaps robots and computers will cost people’s jobs.  And they are alarmed that the technology is moving too quickly. Pope Francis, the leader of the Roman Catholic church, “issued a warning against artificial intelligence . . . , saying in a statement it should be used in ‘service of humanity’ and warning to be vigilant of the ‘rapidly increasing...

05 Jul

What is AI? Artificial intelligence (AI) is not just another trendy technology. It’s a truly transformative force that will reshape our lives in 2024 and beyond. Its impact could even surpass that of television, air travel, and the internet in the history of human development, inspiring hope and anticipation for the future. So, what is AI, and why does it matter to people in sales? AI may be described as a newly emerging field of computer science where machines are programmed to use their memory or learning experiences to react to stored information to make decisions like human beings. By imitating human...

01 Jul

Many of us are familiar with the concept of leverage in negotiations. Leverage is not just a tool; it's a mindset. It's the perceived power of either side that influences the negotiation. Most of us think of it as one party having a strategic advantage, edge, or power over another.  And it is relative -- strong or weak.  It is rarely neutral. And it can be as simple as the knowledge that one party has that the other doesn’t have. When someone holding a gun wants to rob you of your wallet, purse, and smartphone, the robber has leverage.  Blackmail can...

25 Jun

McCormack & Dodge scheduled a User Conference for its customers in San Francisco in August 1983. I was asked to find a luncheon speaker.  Usually, we chose someone from the business world, academia, or the military, such as Admiral Grace Hopper (who was one of the best speakers I ever saw.)  I decided to try to get Willie Mays to speak.  Willie was a member of the Baseball Hall of Fame and was one of the best to play.  I did not know whether he would be available, affordable – and even a good speaker. So, how can I contact Mays?...

12 Jun

Several years ago, I found myself in a rather comical situation as a junior accountant at a mid-size suburban Chicago manufacturing company. It was a lesson in the peculiar behaviors that can unfold in a supposedly professional office environment. This company, which I will call Acme Manufacturing, kept manual accounting ledgers in addition to the computerized system. These ledgers were locked in a storage room with a combination lock on its heavy steel door. A long-time employee named Carl gathered the books on a movable cart each morning. At the end of the day, he routinely returned the ledgers to the...

01 Jun

Have you ever read the tag on your bed mattress (or your pillow or winter coat) that says removing it is illegal and punishable by federal fines of up to $5,000 or imprisonment? Egads! That sounds like a Dilbert cartoon. Have you done so? I haven’t, but I have been tempted to do so. Fortunately, the federal government changed the original rules to read: “Do Not Remove by Penalty of Law Except by the Consumer” in the 1990s. It is a violation of the federal Mattress Label Act.  “The actual federal regulation states that it’s unlawful to remove or mutilate any stamp,...

01 Jun

Several years ago, I lived in a home adjacent to a private golf club. My telephone number was similar to that of the golf club’s clubhouse. One afternoon, I received a call from an unknown man who asked me if he could reserve a tee- time for golf.  I told him he dialed the wrong number and he hung up.  Sure enough, a few minutes later, he called again and asked for a tee-time reservation.  Again, I informed him that he had dialed an incorrect number.  He hung up. Then, a few minutes later, he called again. When I once again informed...