Posts Tagged ‘life’
During the Oxford Reunion Week, I had many interesting conversations with classmates who were attending the strategy class. I took the same class five years ago, and today I would like to share my biggest takeaway from it – reductive strategy.
What is Reductive Strategy?
When it comes to strategy, most businesses ask, “What more can we do?” Professor Whittington suggested that we ask a different question instead: ”What else can we stop doing?” This question forms the foundation of reductive strategy.
Take my own line of business for example. Most financial advisory firms try to be all things to all people. Some firms even offer to walk clients’ dogs and to be their golf partners. They believe this makes them more competitive. Drawing from the insight of reductive strategy, I don’t do any of those that is 1) not my core competency, 2) not what my clients come to me for. This strategy has helped me build a simple but elegant practice.
Great Savings from Reductive Strategy
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Life: Our Real Treasure
Posted on: October 7, 2013
- In: Life
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My wife came home very sad today.
A colleague of hers got a call from her son’s teacher. He had come up to her to complain about chest pain when he suddenly collapsed right there in front of her.
My wife’s colleague ran to the emergency room only to find that her son was already pronounced dead. Doctors there couldn’t figure out how this could have happened to a healthy ten year old.
The child’s mother had refused to give up and gave CPR to her lifeless son for an hour until his rib cage nearly cracked.
My wife and her colleague used to swap stories about their respective children regularly and this son was the one she talked about most often. Now he is gone.
I don’t know her, but my heart is overwhelmed by sadness and I am reminded yet again that money and material trappings mean nothing. Life alone is the real treasure.
The Investment Scientist 