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Later, we all snickered at some writers who viewed Dad as a grand strategist who intuitively developed complex plans and implemented them with precision. Dad thrived on change, and no decision was ever sacred.
Sam Walton
Sam Walton and John Huey
How has the company managed to stay nimble, not stuck struggling to find common ground, as happens with most companies of such size? The answer lies in an Amazon innovation called “single-threaded leadership,” in which a single person, unencumbered by competing responsibilities, owns a single major initiative and heads up a separable, largely autonomous team to deliver its goals. In this chapter we’ll explain what these terms mean, how they came to be, and why they lie at the heart of the Amazon approach to innovation and high-velocity decision-making. The single-threaded leadership model emerged at the tail end of a long, zigzag journey of well-informed trial and error. We asked ourselves a difficult question, then responded with bold critical thinking, experimentation, and relentless self-critique that helped us double down on successful ideas and jettison the failures. You won’t find an “aha moment” in this chapter. The path from that first hard question to single-threaded leadership took almost a decade, in large part because it required that we first untangle our monolithic software architecture and the organizational structures that had grown alongside it, then replace both, step by step, with systems designed to support rapid innovation.
Working Backwards
Colin Bryar and Bill Carr
Derivatives and bonds are contracts, not part ownership of a business; your legal obligations and protections, if any, are lurking in the fine print. Their issuers are not otherwise duty bound to act in your best interests, unlike the senior executives of corporations you own. But Wall Street invents financial contraptions with features that are too complicated for many buyers to evaluate properly. For those who understand them better than others, these inefficiencies are profitable precisely because they dupe the unwary victims. Customers may know that a fund is leveraged but not realize that this feature makes it a wasting asset.
Big Money Thinks Small
Joel Tillinghast
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