[Humor] Definition of Overhead
A friend and business owner recently provided me with this gem:
Back before I was certified as a master of business administration, I asked my dad exactly what “overhead” means in accounting terms. His response was: anyone who can NOT show up for work for a few days and NOT be missed is overhead.
And his father then added that he was the largest single source of overhead for his company.
Meaningful work
“Meaningful work is one of the most important things we can impart to children. Meaningful work is work that is autonomous. Work that is complex, that occupies your mind. And work where there is a relationship between effort and reward – for everything you put in, you get something out!”
From Malcolm Gladwell, courtesy of 37signals.
Charles Koch on Experimentation
Comments OffFrom Charles Koch’s The Science of Success:
“The key is to recognize when you are experimenting, and limit the bet accordingly.”
A friend works with Georgia Pacific, which in 2005 was acquired by Koch Industries. In my response to a question about “what things are like” working in a company guided by Koch’s business philosophy. Here’s what he had to say:
There is a palpable sense of leadership looking to advance a belief in entrepreneurship among employees – drilled down to all levels of employment so that people look at their jobs and try to find the most effective ways to perform and can be compensated as such. Not a usual tact for other companies.
I have admired Koch for some time, and am excited to be diving into this book. You can see a little more about the man and his Market-Based Management business philosophy here. Thanks to a commenter at Marginal Revolution for pointing out the aforementioned quote.
Quality is…
Comments Off“Quality is never an accident; it is always the result of high intention, sincere effort, intelligent direction and skillful execution; it represents the wise choice of many alternatives.” Author Unknown
Courtesy of Lawson Calhoun of Calhoun Properties in Atlanta.