Insightful Reflections from Thought Sparks - January 2022
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Chapter 1: Introduction to January Reflections
As I adapt to the notion of not saying "Happy New Year," I find myself in February already. The start of this year has been quite enjoyable—I’ve resumed in-person teaching at our stunning new facility in Manhattanville, which offers breathtaking views.
I’m excited to announce that my course on "Leading Strategic Growth and Change" will be held next May for a week, in person! For more details, please refer to my events page.
This month’s Thought Sparks Strategy focuses on decision-making (January 4, 2022).
Strategy is often a misunderstood concept in business. To clarify, I present a definition based on the classical framework proposed by Don Hambrick and James Frederickson, which defines strategy as the “central, integrated concept of how you plan to meet your objectives.” Each term in this definition holds significant meaning; for a deeper understanding, I encourage you to read the full article.
Section 1.1: A Dialogue on Racism
In a compelling discussion with Harvard's Robert Livingston (January 18, 2022), we explored themes from his book "The Conversation," which addresses racism. One insightful takeaway is the differentiation he makes between stereotyping, prejudice, and discrimination.
- Stereotyping involves beliefs, such as assuming "Blacks are athletic" or "Asians excel in math." These are cognitive processes.
- Prejudice pertains to feelings or attitudes towards certain groups, which are emotional rather than cognitive.
- Discrimination is about actions—how we treat others, irrespective of our internal biases or emotional attitudes.
Understanding these distinctions is crucial in combating racism. By demonstrating non-discriminatory behavior and fostering positive interactions across diverse backgrounds, research indicates we can significantly alleviate negative feelings. Rather than attempting to change deep-seated beliefs immediately, we should prioritize equitable actions. Through consistent positive engagement, beliefs may eventually evolve.
Subsection 1.1.1: The High Cost of Insulin
An article on January 25, 2022, tackles the ongoing issue of insulin prices. Despite being discovered over a century ago, the cost remains exorbitant, leading to dire consequences for patients unable to afford their treatments. This situation has spurred calls for systemic change, with emerging competitors and alternative solutions that promise relief. The piece delves into the unique history and current dynamics of the insulin market.
Section 1.2: Insights from the Media
In my recent features:
- Future of Healthy Innovation — I joined Ritesh Patel on DX Daily to discuss prospects in healthcare innovation and the companies likely to succeed.
- The End of Competitive Advantage — I shared my thoughts on this topic with the Strategic and Competitive Intelligence Professionals (SCIP) in a podcast interview.
- Supreme Court Ruling on COVID Mandates — I provided commentary on the Court's decision regarding the Biden Administration’s vaccination requirements for large employers.
- Peter Drucker's Legacy — In an article for Management Today, I reflected on the enduring relevance of Peter Drucker's ideas amidst today’s management challenges.
Chapter 2: Noteworthy Upcoming Events
The first video titled "Reading Wrap Up January 2024" discusses key takeaways from my reading list this month, providing insights into various books that have shaped my thoughts.
Another video, "All 33 Books I Have Read So Far This Year (Part 1)!" offers an overview of my reading journey through the first three months of 2022, highlighting the key themes and lessons from each book.
Mark your calendars for these upcoming events:
- February 11: Join me for a Friday Fireside Chat with Whitney Johnson, where we’ll delve into her new book "Smart Growth: How to Grow Your People to Grow Your Company."
- February 18: Tune in for a conversation with Frank Rose, author of "The Sea We Swim In," who argues that storytelling shapes our decisions more than mere facts.
Stay Connected
As we embark on this new year of learning, I invite you to follow my updates on Twitter (@rgmcgrath), Instagram (@ritamcgrathofficial), LinkedIn, and YouTube. If you have topics you’d like me to explore in a Thought Spark, please reach out!
Warm regards,
Rita