Rotman Management Fall 2013

EARLY ON IN OUR CAREERS, and even mid-way through, most of us don’t spend much time thinking about what our legacy will be. But the fact is, it is never too early to start thinking about the longterm impact you can have on your organization and the people around you. Executive development expert Robert Galford [see interview, page 78] argues that the sooner you start thinking about this, the better a leader you will be today. His simple definition of legacy applies to everyone, whether you are running an organization or serving on its front lines: “Your legacy is defined by how others approach work and life as a result of having worked with you.” We at the Rotman School have witnessed the formation of a great legacy before our very eyes:…

THE ROOTS OF INTEGRATIVE THINKING can be found in a moment of panic. As Roger Martin tells the story — often with the hint of a smile — he was working in Toronto for Monitor Company, opening up the Canadian office of the strategy consulting firm. In this capacity, Roger found himself meeting with legendary Toronto corporate lawyer James (Jim) Tory. Tory was soon due to step down from his role as managing partner of Tory Tory DesLauriers & Binnington after an astonishingly successful run. Over his tenure, Tory had turned the family firm into one of Canada’s leading corporate law practices. His partners, looking to build a sustainable strategy for the firm following Tory’s retirement, had asked Roger to document the choices that had made Tory so successful. The first meeting…

In 1997, you were enjoying a very successful career as a senior executive with Monitor Company. What led you to change your career course so dramatically? I have always believed that successful business people who care about society should, at some point, turn themselves to public service. I always figured I would do this when I was past the age of 50 — not 41! But former University of Toronto President Rob Prichard, who I had met through a consulting assignment, convinced me that this was the time to do it, and that this was a place where I could really contribute to my country. He made me believe that it was possible to take the University’s business school and make it something that the Canadian business community, the city of…

REAL STRATEGY — IN COMPANIES AND IN OUR LIVES — is created through hundreds of everyday decisions. As you live your life from day to day, how can you make sure you’re heading in the right direction? Our advice is to take a close look at where your resources are flowing. If they’re not supporting the strategy you’ve decided upon, then you are not implementing that strategy. In this article we will discuss a pervasive challenge for organization and individuals alike: what to do when the right decision for the long term makes no sense for the short term, which we call the ‘innovator’s dilemma’. Getting the Measures of Success Wrong More than a decade ago, Seattle-based SonoSite was founded to make hand-held ultrasound equipment — little machines that had the potential to…

WHAT DO WE EXPECT OF A GOOD STUDENT? A willing, intelligent mind diligently applied to coursework. Reliable and rapid recall. A calm, competent response to the pressure of testing. What else? Perhaps a disciplined mindset that assures homework will be turned in on time. The rigor to complete work correctly. An attentive and cooperative attitude in class. In the prevailing model of education, that kind of student will make straight A’s all the way. Even in today’s MBA and executive programs, these students will move to the head of the class. Over the last century successive waves of education reform have been focused on teaching and testing these best-and-brightest students. Yet surprisingly, using this outdated 20th century model, educators and students have lost traction. The good students, the ones who excel…

EDITOR’S NOTE: In January of 2013, Design Thinking reached a milestone when 60 Minutes featured “one of the most innovative thinkers of our time; a man who has had an enormous impact on our everyday lives.” Chances are, many viewers hadn’t heard of this visionary; but for our readers, his name was familiar. Following is an adapted excerpt from the segment, which indicates just how far Design Thinking has come in a few short years. DAVID KELLEY IS THE FOUNDER of the Silicon Valley global design firm IDEO. His company has created thousands of breakthrough inventions, including the first computer mouse for Apple, the stand-up toothpaste tube, and a better Pringle for Procter & Gamble. IDEO may just be the most influential product design company in the world. Kelley is a pioneer…