Chapter 6: A Culture of Discipline group 7

Introduction

Entrepreneurship and Discipline

Freedom Within a Framework

Fanatical Adherence

"Stop Doing" List

Entrepreneurship and Discipline

Entrepreneurial Success:

Creativity, imagination, bold moves into unchartered waters, and visionary zeal

Outcomes of Too Much Discipline:

Often kills the entrepreneurial spirit in an organization

Mediocrity begins to grow

Compromise:

Avoid bureaucracy and hierarchy to create a culture of discipline

Freedom Within A Framework

Culture of Discipline:

Clear constraints while giving freedom and responsibility within the framework

Three Traits in Creating A Culture of Discipline:

1. Self-disciplined people

2. Disciplined thought

3. Disciplined action

Wells Fargo vs Bank of America

Organizations have to be disciplined enough to trim back when needed

Culture of Discipline Not Tyranny:

Combination of disciplined action and disciplined understanding

Fanatical Adherence

Fanatic About the Three Circles:

1. Discipline to understand the three circles

2. Discipline to stay within the three circles

Discipline Fanaticism

Opportunity Creation vs Opportunity Selection

Turning down a once in a lifetime opportunity may be necessary if it does not fit within the three circles

Nucor Example

"Stop Doing" List

Be disciplines to stop doing the things that are not within the three circles (Hedgehog Concept)

Focus funding and resources into only one of a few areas

Invest only in things that are within the three circles

Conclusion

Entrepreneurship and Discipline

Freedom Within a Framework

Fanatical Adherence

"Stop Doing" List

Credits:

Created with images by cogdogblog - "Blues" • cogdogblog - "Blues" • cogdogblog - "Blues" • cogdogblog - "Blues" • cogdogblog - "Blues" • cogdogblog - "Blues" • cogdogblog - "Blues"

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