It was the year 1987, where a bunch of analysts and investors have teamed up to meet the new CEO of Alcoa.
Alcoa is one of the largest aluminum manufacturing firms where employees work in a dangerous environment. Millions have invested in the stock.
The Ballad of Paul O'Neill:
Get a cup of coffee.
Today, I will talk about one of the brilliant management stories I have ever read. Let's get started.
It was the year 1987, where a bunch of analysts and investors have teamed up to meet the new CEO of Alcoa.
Alcoa is one of the largest aluminum manufacturing firms where employees work in a dangerous environment. Millions have invested in the stock.
Recently management has made missteps letting competitors take away profits and market share.
It was a sign of relief when investors heard about a management change.
The new CEO is Paul O Neill, who is a former Govt bureaucrat.
AGM has started. Paul entered the stage. His only emphasis is *worker safety* He aimed to bring down worker injuries to zero.
He talked nothing about firm profits, capital ratios, taxes.
The investors were confused. They thought he is crazy and sold their shares.
But to their surprise, the firm market value has increased from $ 3 billion in 1986 to $ 27.53 billion in 2000 while net income improved from $ 200 million to $ 1.484 billion.
What's more, all the growth occurred while Alcoa becoming one of the safest firms in the world.
How did Paul manage to turn a dangerous firm into a profitable and a safe one?
The answer lies in understanding keystone habits.
The loop of a habit is Cue, routine, reward.
You see ice cream (cue), buy and eat it (routine), Feel happy (reward)
We are not talking about habits in detail though. That is a topic for another day.
Keystone habits are habits that have the power to create a chain reaction and change the entirety of the form.
For instance, take this, you exercise ➡️eat a good diet ➡️ be productive at work ➡️ create healthy relationships ➡️ improve your life.
This is what exactly Paul has done. He attacked a single habit *Worker safety* and watched it bring changes across the organization.
Paul identified a simple cue: worker injury.
He developed a routine: Anytime someone was injured, the unit president had to report to Paul within 24 hours.
The reward is the people who report on time get a promotion.
The unit presidents are busy people. To report on time, they need vice presidents to be alert.
Vice presidents have to follow up with floor managers. And the managers with employees.
As soon as, an injury happened, Paul got an alert from unit presidents. He understood why it happened.
He took corrective action to ensure from not happening of the same mistake.
For instance, if molten metal was injuring workers when it splashed, then the pouring system was replaced.
If a machine kept breaking down, it was replaced.
This improved production and adoption of new technology improved firm efficiency.
The second big thing Paul has done is he linked up Alcoa's offices across the world with electronic networks.
The premise is simple. To get to know about worker injuries as quickly as possible.
At first, people have used the network to discuss safety issues. Then as email habits became more comfortable, they started posting info on other topics such as local mkt conditions, sales quotas, and business problems.
"I would send in my accident report, and I knew everyone else read it, so I figured, why not send pricing info or intelligence on other firms," a manager said.
"It was like we had discovered a secret weapon and the competition couldn't figure out how we were doing it"
More from Marketing
20 Most Important Lesson of 2020
// A THREAD //
It was a fast and weird year.
The year of change.
My life changed a lot and I learned even more.
Here are the 20 most important lessons - which will shape the upcoming decade for me.
1. Systems Are Better Than Goals
In the past, I failed many of my goals.
This year I've realized that it could be caused by the fact that they were goals, not systems.
Thanks, @ScottAdamsSays for helping me realize this.
Short article on the topic: https://t.co/lyBqGBR0yM
2. Use Notion More
@NotionHQ is definitely the most useful tool I've discovered this year.
I use it for:
- Twitter
- Freelance CRM
- Content Creation
- Website project management
And for personal use, it's completely free.
3. Email Is Immortal
This year we saw on social sites:
- Shadow bans
- Normal bans
- Decreasing reach (e.g. during the presidential election)
That's why I believe building an independent audience e.g. email list is mandatory.
P.S. https://t.co/iuhQJIf80K
// A THREAD //
It was a fast and weird year.
The year of change.
My life changed a lot and I learned even more.
Here are the 20 most important lessons - which will shape the upcoming decade for me.
1. Systems Are Better Than Goals
In the past, I failed many of my goals.
This year I've realized that it could be caused by the fact that they were goals, not systems.
Thanks, @ScottAdamsSays for helping me realize this.
Short article on the topic: https://t.co/lyBqGBR0yM
2. Use Notion More
@NotionHQ is definitely the most useful tool I've discovered this year.
I use it for:
- Freelance CRM
- Content Creation
- Website project management
And for personal use, it's completely free.
3. Email Is Immortal
This year we saw on social sites:
- Shadow bans
- Normal bans
- Decreasing reach (e.g. during the presidential election)
That's why I believe building an independent audience e.g. email list is mandatory.
P.S. https://t.co/iuhQJIf80K
Can't run FB ads on your own profile?
No problem.
Here's how you use a virtual browser to run ads safely on someone else's FB account.
** Thread **
In order for this to work, you need to have permission from someone to use their FB profile.
Whether that's a friend/family of yours or some random guy/gal you pay.
Because you'll need the login information to their FB profile.
Just a heads up.
A virtual browser is the best solution I've found for this.
A remote access tool like Splashtop is an alternative option but the user has to have their computer on if you want to access it.
This can create a bunch of headaches which is why I prefer to use a virtual browser.
It allows you to access the user's computer alongside them so you're able to log on whenever you like no matter if the user is using their computer or not.
I'm sure there are a bunch of options for virtual browsers but I use Multilogin ==> https://t.co/RF6s0Mto8f
99% of you will be fine with the Solo package which is around $100 a month.
Small price to pay, if this is the only option you have to run ads.
No problem.
Here's how you use a virtual browser to run ads safely on someone else's FB account.
** Thread **
In order for this to work, you need to have permission from someone to use their FB profile.
Whether that's a friend/family of yours or some random guy/gal you pay.
Because you'll need the login information to their FB profile.
Just a heads up.
A virtual browser is the best solution I've found for this.
A remote access tool like Splashtop is an alternative option but the user has to have their computer on if you want to access it.
This can create a bunch of headaches which is why I prefer to use a virtual browser.
It allows you to access the user's computer alongside them so you're able to log on whenever you like no matter if the user is using their computer or not.
I'm sure there are a bunch of options for virtual browsers but I use Multilogin ==> https://t.co/RF6s0Mto8f
99% of you will be fine with the Solo package which is around $100 a month.
Small price to pay, if this is the only option you have to run ads.
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The entire discussion around Facebook’s disclosures of what happened in 2016 is very frustrating. No exec stopped any investigations, but there were a lot of heated discussions about what to publish and when.
In the spring and summer of 2016, as reported by the Times, activity we traced to GRU was reported to the FBI. This was the standard model of interaction companies used for nation-state attacks against likely US targeted.
In the Spring of 2017, after a deep dive into the Fake News phenomena, the security team wanted to publish an update that covered what we had learned. At this point, we didn’t have any advertising content or the big IRA cluster, but we did know about the GRU model.
This report when through dozens of edits as different equities were represented. I did not have any meetings with Sheryl on the paper, but I can’t speak to whether she was in the loop with my higher-ups.
In the end, the difficult question of attribution was settled by us pointing to the DNI report instead of saying Russia or GRU directly. In my pre-briefs with members of Congress, I made it clear that we believed this action was GRU.
The story doesn\u2019t say you were told not to... it says you did so without approval and they tried to obfuscate what you found. Is that true?
— Sarah Frier (@sarahfrier) November 15, 2018
In the spring and summer of 2016, as reported by the Times, activity we traced to GRU was reported to the FBI. This was the standard model of interaction companies used for nation-state attacks against likely US targeted.
In the Spring of 2017, after a deep dive into the Fake News phenomena, the security team wanted to publish an update that covered what we had learned. At this point, we didn’t have any advertising content or the big IRA cluster, but we did know about the GRU model.
This report when through dozens of edits as different equities were represented. I did not have any meetings with Sheryl on the paper, but I can’t speak to whether she was in the loop with my higher-ups.
In the end, the difficult question of attribution was settled by us pointing to the DNI report instead of saying Russia or GRU directly. In my pre-briefs with members of Congress, I made it clear that we believed this action was GRU.
Margatha Natarajar murthi - Uthirakosamangai temple near Ramanathapuram,TN
#ArudraDarisanam
Unique Natarajar made of emerlad is abt 6 feet tall.
It is always covered with sandal paste.Only on Thriuvadhirai Star in month Margazhi-Nataraja can be worshipped without sandal paste.
After removing the sandal paste,day long rituals & various abhishekam will be https://t.co/e1Ye8DrNWb day Maragatha Nataraja sannandhi will be closed after anointing the murthi with fresh sandal paste.Maragatha Natarajar is covered with sandal paste throughout the year
as Emerald has scientific property of its molecules getting disturbed when exposed to light/water/sound.This is an ancient Shiva temple considered to be 3000 years old -believed to be where Bhagwan Shiva gave Veda gyaana to Parvati Devi.This temple has some stunning sculptures.
#ArudraDarisanam
Unique Natarajar made of emerlad is abt 6 feet tall.
It is always covered with sandal paste.Only on Thriuvadhirai Star in month Margazhi-Nataraja can be worshipped without sandal paste.
After removing the sandal paste,day long rituals & various abhishekam will be https://t.co/e1Ye8DrNWb day Maragatha Nataraja sannandhi will be closed after anointing the murthi with fresh sandal paste.Maragatha Natarajar is covered with sandal paste throughout the year
as Emerald has scientific property of its molecules getting disturbed when exposed to light/water/sound.This is an ancient Shiva temple considered to be 3000 years old -believed to be where Bhagwan Shiva gave Veda gyaana to Parvati Devi.This temple has some stunning sculptures.
A list of cool websites you might now know about
A thread 🧵
1) Learn Anything - Search tools for knowledge discovery that helps you understand any topic through the most efficient
2) Grad Speeches - Discover the best commencement speeches.
This website is made by me
3) What does the Internet Think - Find out what the internet thinks about anything
4) https://t.co/vuhT6jVItx - Send notes that will self-destruct after being read.
A thread 🧵
1) Learn Anything - Search tools for knowledge discovery that helps you understand any topic through the most efficient
2) Grad Speeches - Discover the best commencement speeches.
This website is made by me
3) What does the Internet Think - Find out what the internet thinks about anything
4) https://t.co/vuhT6jVItx - Send notes that will self-destruct after being read.