A 2009 survey revealed that a fifth of British teens believed Churchill was a fictional character. More than a quarter thought Florence Nightengale was a mythical figure. But two-thirds thought King Arthur was a real person. We need a similar survey showing what management systems are mythical and which provide valuable and enduring benefits in any organization. David Axson is the perfect person to provide feedback; he’s the author of The Management Mythbuster.
- Doses needed for healthy skepticism
- The search for a quick management fix
- What happened to TQM, Six Sigma, Reengineering, and other management tools?
- Finding the right tools for the right job
- The risk of overdosing on the wrong management systems
- The reason David still gets royalty checks for The Management Mythbuster
- A better understanding of reputation risk
- Sixteen chapters – how did you decide, and which tools got left out?
- David’s book started as two books, not one
- The myth of accounting cost allocations
- “The job of a consultant is not to be a good consultant. It’s to help your clients to be more successful.”
- Regarding metrics, “We can make anything look good with the right numbers.”
- David’s favorite client with 320 KPIs
- No love lost for EBITDA, but lots of love for cash flow metrics
- “Budgeting is the biggest waste of time in the corporate world.”
- The original Beyond Budgeting Roundtable was ahead of its time twenty-plus years ago
- David’s explanation of managing against the actuals
- Mark’s Lightning Round: collecting and manipulating data, analytic value, calendar-driven reporting, just-in-time data, and performance pay
- On reading 117 books in 2022
We don’t need more metrics; we need better and more focused metrics. Perhaps we should add a new metric that measures the mean time to make a decision.Axson, David A. J.. The Management Mythbuster (p. 184). Wiley. Kindle Edition.
Bain’s Top 10 Management Tools
About every two years, Bain publishes its Top 10 Management Tools based on surveys. Since we brought this up on the show, I wanted to show what the 2017 grid looks like. In the static image below, notice that the Balanced Scorecard made the Top 10 in 2010, 2012, and 2014, but it fell out of the Top 10 in 2017. There is a link in the caption below that will take you to the interactive grid.
I ask every guest about their favorite books. David did not disappoint after he mentioned he read nearly 120 books last year. David likes the business classics, and here are his five favorites:
Other books mentioned on the show:
- David Axson website
- Amazon author page (3 books)
- LinkedIn profile
- Twitter feed
- While it’s more than 10 years, one of my favorite interviews of David on scenario planning
The Management Myth
Podcast – with Matthew Stewart
Red Team Thinking
Podcast – Bryce Hoffman
Can God Forecast Accurately?
In memoriam, Steve Player.