Stories from The McCombs School of Business at The University of Texas at Austin.
McCombs student Colby Lowrey as the coxswain for the UT women's rowing team at the Canadian Royal Henley Regatta.
Economist Mike Brandl kicks off the first official Texas Enterprise podcast with a critical look at the proposed solutions to the deficit put forth by professors in our series "Deflating the Deficit."
David Wenger interview Rainey Knudson of Glasstire.com
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 sa...
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 sta...
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.
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.
#2. SENSE OF HISTORY Our society in general does not have a lot of respect for history, but people who build great enterprises have a sense of history and make a concerted effort to study it. Regardless of industry, any understanding of the future comes from understanding the past. Watching key long-term trends is a critical part of successful leadership.
#1 CURIOSITY People who build great enterprises must have a sense of curiosity. Hoover believes new technologies and better ways of doing things are discovered by looking at things a different way. You can’t continue looking at something that same way everyone else does and come up with something new. All discovery starts with exploration. Travel, observe, talk to people. Look at other industries