Start learning this lesson now

Stanford Entrepreneurship corner, Geoffrey Moore: Reach Your Escape Velocity No.1

Geoffrey Moore: Reach Your Escape Velocity No.1

Let's welcome Geoff Moore back to Campus. Thank you. Thank you, Tom. Thank you. OK. Now, usually I try to preview this stuff before it's published so that you guys can help me make sure it's not as dumb as it would be but this time I actually must have missed the calendar. So this is actually now a book that is going to come out in September and Tom said the sixth book. The first three books were written in the '90s and they were all about that -- sometimes they call it the time of the great happiness. There was this unbelievable rush of technological enthusiasm and it seemed like no matter what you did, it was just magically successful. And in the last -- they've been written in the last decade where frankly, there's been a sort of maturation in the tech sector and the larger companies have become more of a part of my world than they were in the first decade. So this is a book which is written -- if you notice what the subtitle is, "Free Your Company's Future From The Pull Of The Past", and this is a book written to major -- companies that have had established franchises, they're very successful, they can afford to send their employees to places like Stanford for executive ed, but they're kind of stuck. Whatever it is that they're success activity it's kind of created enough inertia momentum that it's hard for anything else to get on board. and so this book is about how would you address that. Now, it's a whole -- it's a book and this is a short talk, so what I've decided to do in this talk is do two things. The first half of the talk, I would like you to think of yourself as either you're on the board of directors or you're the CEO of Microsoft, you're John Chambers, you're Steve Ballmer, you're Leo Apotheker, you're Carol Bartz, you're the head of a big company, and I kind of want you to look at it from kind of the top-down. And then half-way through, I'm going to switch to a chapter which is more oriented toward, I'm in the middle of a big company, what can I do to change things from the position I'm in as opposed to the very top? So let me kind of kick this up with an overview. This notion of the problem of we're stuck and it just -- I have to say it's virtually universal. People kind of get, look, we have a successful franchise but you can't stand still intact between technology and globalization. Things are really, really moving. Now, that's great news for opportunity but it's also for people that stand still, it's a threat. As our friends at Boarders, for example, discovered this year and numerous other companies. So everybody gets that they've got to engage growth. It's not like, hey, I've got an idea for you. They got it. What they don't like talking about which they universally acknowledge is there is massive internal resistance to moving resources away from established activities into new activities; massive. And so that's kind of like the innovative dilemma idea. You know, the corporate antibodies that kind of stuff. So we've talked about it for a long time, we haven't been very good about doing much about it. So year-in, year-out, the experience is, man, it's Windows again, it's Office again, it's routers and switches again, it's, you know, direct adver -- display advertising for Yahoo again, and it's like -- and even if something is young and as vibrant as Google, why did they -- why did Larry Page come back in? I think Google is beginning to feel like we need to -- when we're 10 years older, barely 10 years older, we need to escape from the pull of our past. So the problem is the new stuff, it's not that there's not new stuff, there's tons of new stuff but it doesn't ever reach materiality. Meaning, in never reaches like being 10 or 20% of the total company's revenue. It gets announced, it gets started and then somewhere along the line it dies from the vine. And so that's where we came with this notion. These are questions that basically our clients ask us. That's where the title came from. How can we achieve a escape velocity? How do we free ourselves from the pull of the past? So just to make clear, this is not a trivial problem nor is it trivial companies that have struggled with this problem. These are some of the very, very best companies that tech has ever put on the playing field. So the notion that you are smarter than this problem, that a Stanford student would not have this problem, even though -- because you are very smart, it's not true. You will have this problem.

So the question then becomes, what the heck is going on? And that's about the nicest language I will use tonight. So what's the mistake we keep making over and over again? So it turns out the way that the global management system works, and largely this is a management system that was developed in the United States, but it's become completely global. It's a performance-oriented management system. That's how people get compensated in large corporations. So performances -- and by the way, not a bad idea, right? I mean, performance is critical to success, right? And we're good at managing it, but here is the second sense, power fuels performance and performance consumes power. That is not visible in a large corporation. It's a little bit like this -- you know, when we have this carbon cap when it taxed carbon emissions? Because right now, if you pollute the air, it's free. And as long as it's free people will continue with the behavior. Well, consuming power in most compensation systems, in most corporations is free. And further more, creating power, say around a new strategy, is not compensated. So I get compensated for consuming power for my performance. I do not get compensated nor do am I held accountable except in the most kind of qualitative ways for generating power. So why would you be surprised that large organizations systematically consume their power? Now, the interesting thing is, in a mature industry you can do that for a long, long time. General Motors consumed its own power for 40 years. Eventually, it ran out of power. Eventually, the battery will go dead. But it takes a long, long time. And the performance metrics don't track against that. So we need to replenish power if we're going to go for the long-term. People get that conceptually, behaviorally, it's hard to integrate it into the corporate systems. And part of the problem is we don't have a very good vocabulary for talking about power, right? People recognize it when they see it. This is the Supreme Court justice about pornography, right? I can't define it but I know when I see it. Well, the same thing with power.

But the problem is if you can't define it, if you can't articulate it, how the heck are you going to hold anybody accountable to it? How are you going to make sure -- and by the way, when you lack power, it will show up in your stock price. Not in the earnings because performance creates earnings in the P of the PE ratio; the Price to Earnings ratio. It's the P that -- P is for power, right? And so if you have a lot of power, you will have a high PE ratio, you'll have a high multiple on your stock. When you consume power and don't replenish it, you'll see it going to one and even below one as you get into trouble. And so what happens in a world in which we don't consciously manage power, is we continue to put anxiety and pressure to perform, perform, perform, but every quarter it's a little harder to do than the last quarter. And then if you eke out that quarter you get to try again and the numbers keep going up and your power keeps going down, and so you become kind of neurotic. I mean, and there's kind of a sort of a collective neurosis around the end of the quarter and it becomes this incredible event which you must not sacrifice anything to. And when you're that desperate, you've already missed the quarter. You just question which quarter are you going to miss because you're so far behind the power curve, you've lost touch with the engine of your own company. The people kind of get this but they can't translate it into behavior. So this is what we call the performance trap. And many cultures are very proud about being a performance culture.

So it's a little bit provocative when we sort of put this out there but we're pretty confident in the case we're making. OK, so what would you do? And the answer is you need to manage power explicitly or directly. We have to find the mechanism to do that. What you discover is the performance activity begins when you start next year's annual budgeting process by handing out last year's budget and saying, you see the fourth quarter numbers, multiply them by four and start there. And that immediately starts a zero sum game about resource allocation which is why it's so hard to move resources inside the company because the person is looking at, I have a bigger number to make next year than I have last year, they froze my resources, at least in theory, the last thing I can contemplate is using my resources for something else. And so immediately -- so if you're going to get ahead of that problem as a management team, now you're the CEO and you're running your annual calendar, the quarter before you would start your budgeting strategy process, you start the power process. And by the way, in that -- if you don't have a specific resource allocation pressure or sword of Damocles hanging over your head, there's lots of stuff to do here. People have lots of ideas about the next category, the next things you want to get into, how we could be successful, there's lots of opportunities. The key idea is allocate resources to those initiatives before you allocate anything else. In the last book, we called this fund core before context. But that's not what happens at large corporations. Once the budget goes out you're funding context before core. So do it before, drive accountability for power into the operational plan. There are metrics of power. Sales velocity you know, share capture and target segments. There's a bunch of stuff that even market share itself, there's a bunch of stuff that demonstrates that you have accumulated more power but you have to create those metrics and put them in the comp plan. Today they're not in the comp plan. The comp plan is based on revenue and earnings generation in the current quarter and in the current fiscal year. It is a consumption-oriented comp plan, it is not a replenishment oriented comp plan. The fact that you got stock options is intended to incent you to want to replenish but is too indirect. It's just too indirect a metric to make it work. But you can do it. You can add power metrics to performance, you can earmark resources for power program usage only, and you can modify the comp program to hold people accountable to do it in ways that people will sign up for it. But to do it and kind of where this book comes in, is you kind of need a better vocabulary to talk about power.

Geoffrey Moore: Reach Your Escape Velocity No.1 Geoffrey Moore|||||Hız| Geoffrey Moore: Erreiche deine Fluchtgeschwindigkeit Nr.1 Geoffrey Moore: Alcanza tu velocidad de escape nº 1 Geoffrey Moore : Reach Your Escape Velocity No.1 (Atteignez votre vitesse d'évasion) Geoffrey Moore: Raggiungi la tua velocità di fuga n. 1 ジェフリー・ムーア：リーチ・ユア・エスケープ・ヴェロシティ No.1 제프리 무어: 탈출 속도 1위 달성하기 Geoffrey Moore: Atingir a sua velocidade de fuga n.º 1 Джеффри Мур: Достигните своей космической скорости № 1 Geoffrey Moore: Reach Your Escape Velocity No.1 Джеффрі Мур: Досягти швидкості втечі № 1 杰弗里·摩尔：达到第一名的逃逸速度

Let's welcome Geoff Moore back to Campus. ||Geoff Moore'u||||Kampüse Demos la bienvenida a Geoff Moore al Campus. Thank you. Thank you, Tom. Thank you. OK. Now, usually I try to preview this stuff before it's published so that you guys can help me make sure it's not as dumb as it would be but this time I actually must have missed the calendar. |||||ön izleme yapmak|||||yayınlanmadan önce|||||||||||||aptalca||||||||||||||takvimi kaçırmışım Ahora bien, normalmente intento previsualizar estas cosas antes de publicarlas para que vosotros me ayudéis a asegurarme de que no son tan tontas como debieran, pero esta vez debo haberme saltado el calendario. Зазвичай я намагаюся переглянути цей матеріал перед його публікацією, щоб ви, хлопці, могли допомогти мені переконатися, що це не так безглуздо, як могло б бути, але цього разу я, мабуть, пропустив календар. So this is actually now a book that is going to come out in September and Tom said the sixth book. |||||||||||||||||||altıncı kitap| The first three books were written in the '90s and they were all about that -- sometimes they call it the time of the great happiness. ||||||||ilk üç kitap|||||||||||||||| There was this unbelievable rush of technological enthusiasm and it seemed like no matter what you did, it was just magically successful. ||||coşku patlaması||teknolojik|teknoloji coşkusu|||||||||||||büyülü bir şekilde| Это был невероятный прилив технологического энтузиазма, и казалось, что что бы вы ни делали, это просто волшебным образом удавалось. And in the last -- they've been written in the last decade where frankly, there's been a sort of maturation in the tech sector and the larger companies have become more of a part of my world than they were in the first decade. ||||||||||||açıkçası||||||olgunlaşma|||teknoloji sektörü|sektör||||şirketler||||||||||||||||on yıl Y en la última década, francamente, ha habido una especie de maduración en el sector de la tecnología y las grandes empresas se han convertido en una parte más de mi mundo de lo que eran en la primera década. So this is a book which is written -- if you notice what the subtitle is, "Free Your Company's Future From The Pull Of The Past", and this is a book written to major -- companies that have had established franchises, they're very successful, they can afford to send their employees to places like Stanford for executive ed, but they're kind of stuck. |||||||||||||alt başlık||Özgürleştirin|||Geleceğini|||||||||||||||||||kurulmuş|imtiyaz hakları||||||||||çalışanlar||||||yönetici eğitimi|||||| Así que este es un libro que está escrito, si te fijas en el subtítulo, "Libera el futuro de tu empresa del tirón del pasado", y este es un libro escrito para las grandes empresas que han establecido franquicias, que tienen mucho éxito, que pueden permitirse enviar a sus empleados a lugares como Stanford para la educación ejecutiva, pero están un poco atascados. Итак, это книга, которая написана - если вы заметили подзаголовок: "Освободите будущее вашей компании от тяги прошлого", и это книга, написанная для крупных компаний - компаний, у которых уже есть франшиза, они очень успешны, они могут позволить себе отправлять своих сотрудников в такие места, как Стэнфорд, для обучения руководителей, но они как бы застряли. Whatever it is that they're success activity it's kind of created enough inertia momentum that it's hard for anything else to get on board. ||||||||||||atalet momentumu|ivme momentumu|||||||||| В чем бы ни заключалась их успешная деятельность, она создала такой инерционный импульс, что все остальное уже трудно подхватить. and so this book is about how would you address that. И эта книга о том, как вы можете решить эту проблему. Now, it's a whole -- it's a book and this is a short talk, so what I've decided to do in this talk is do two things. The first half of the talk, I would like you to think of yourself as either you're on the board of directors or you're the CEO of Microsoft, you're John Chambers, you're Steve Ballmer, you're Leo Apotheker, you're Carol Bartz, you're the head of a big company, and I kind of want you to look at it from kind of the top-down. |||||||||||||||||||yönetim kurulu||yönetim kurulu||||||Microsoft'un CEO'su|||John Chambers|||||Leo Apotheker|Leo Apotheker|||Carol Bartz|||şirket başkanı|||||||||||||||||||üst düzeyden| En la primera mitad de la charla, me gustaría que pensaras en ti mismo como si estuvieras en el consejo de administración o fueras el director general de Microsoft, John Chambers, Steve Ballmer, Leo Apotheker, Carol Bartz, el jefe de una gran empresa, y quiero que lo veas de arriba abajo. And then half-way through, I'm going to switch to a chapter which is more oriented toward, I'm in the middle of a big company, what can I do to change things from the position I'm in as opposed to the very top? |||||||||||||||yönelik|yönelik||||||||||||||||||||||aksine olarak|||| Y luego, a mitad de camino, voy a cambiar a un capítulo que está más orientado a, estoy en medio de una gran empresa, ¿qué puedo hacer para cambiar las cosas desde la posición en la que estoy en contraposición a la cima? А затем, на полпути, я переключусь на главу, которая больше ориентирована на то, что я нахожусь в центре большой компании, что я могу сделать, чтобы изменить ситуацию с той позиции, на которой я нахожусь, а не с самой вершины? So let me kind of kick this up with an overview. |||||başlamak|||||genel bakış Итак, позвольте мне начать с обзора. This notion of the problem of we're stuck and it just -- I have to say it's virtually universal. |kavram||||||takılıp kalmak|||||||||neredeyse tamamen|evrensel olarak yaygın Это понятие о проблеме, в которой мы застряли, и она просто... Я должен сказать, что она практически универсальна. People kind of get, look, we have a successful franchise but you can't stand still intact between technology and globalization. |||||||||başarılı iş modeli||||||sağlam kalmak||||küreselleşme Люди вроде как понимают: смотрите, у нас успешная франшиза, но между технологиями и глобализацией нельзя стоять на месте. Things are really, really moving. Все действительно, действительно движется. Now, that's great news for opportunity but it's also for people that stand still, it's a threat. ||||||||||||||||tehdit As our friends at Boarders, for example, discovered this year and numerous other companies. ||||Sınır Tanımayanlar|||keşfettiği||||sayısız|| Как, например, выяснили в этом году наши друзья из компании Boarders и многие другие компании. So everybody gets that they've got to engage growth. |||||||katılmak|büyümeyi sağlamak Так что все понимают, что нужно участвовать в росте. It's not like, hey, I've got an idea for you. They got it. |Aldılar.|onu aldılar Они поняли. What they don't like talking about which they universally acknowledge is there is massive internal resistance to moving resources away from established activities into new activities; massive. Ne||||||||evrensel olarak|kabul ederler||||büyük çaplı|içsel|direnç|||kaynaklar|||yerleşik|||||büyük çaplı О чем они не любят говорить и что они повсеместно признают, так это о наличии огромного внутреннего сопротивления перемещению ресурсов из устоявшихся видов деятельности в новые виды деятельности; массивный. Konuşmaktan hoşlanmadıkları ve evrensel olarak kabul ettikleri şey, kaynakların yerleşik faaliyetlerden yeni faaliyetlere kaydırılmasına karşı büyük bir iç direnç olduğudur; büyük. And so that's kind of like the innovative dilemma idea. |||||||yenilikçi|yenilikçi ikilem fikri| И в этом заключается идея инновационной дилеммы. Bu da yenilikçi ikilem fikri gibi bir şey. You know, the corporate antibodies that kind of stuff. ||||kurumsal antikorlar|||| Знаете, корпоративные антитела и тому подобное. Bilirsiniz, kurumsal antikorlar gibi şeyler. So we've talked about it for a long time, we haven't been very good about doing much about it. Итак, мы говорили об этом в течение долгого времени, мы не очень хорошо поработали над этим. So year-in, year-out, the experience is, man, it's Windows again, it's Office again, it's routers and switches again, it's, you know, direct adver -- display advertising for Yahoo again, and it's like -- and even if something is young and as vibrant as Google, why did they -- why did Larry Page come back in? |yıl boyunca|||||||||||||||yönlendiriciler||anahtarlar ve yönlendiriciler|||||doğrudan reklam|doğrudan reklam||görüntülü reklamcılık||Yahoo için reklam|||||||||||||canlı|||||||||||| Así que, año tras año, la experiencia es, tío, es Windows otra vez, es Office otra vez, son routers y switches otra vez, es, ya sabes, publicidad directa... publicidad gráfica para Yahoo otra vez, y es como... e incluso si algo es joven y tan vibrante como Google, ¿por qué... por qué Larry Page volvió? Итак, из года в год опыт таков, чувак, это снова Windows, это снова Office, это снова маршрутизаторы и коммутаторы, это, знаете ли, прямая реклама - снова отображать рекламу для Yahoo, и это как - и даже если что-то такое молодое и энергичное, как Google, почему они... почему вернулся Ларри Пейдж? I think Google is beginning to feel like we need to -- when we're 10 years older, barely 10 years older, we need to escape from the pull of our past. |||||||||||||||zar zor||||||||geçmişimizin çekiminden|çekim gücü||geçmişimizin| Я думаю, Google начинает чувствовать, что нам нужно — когда мы станем на 10 лет старше, всего на 10 лет старше, нам нужно убежать от притяжения нашего прошлого. So the problem is the new stuff, it's not that there's not new stuff, there's tons of new stuff but it doesn't ever reach materiality. |||||||||||||||tonlarca||||||||ulaşmak|önemlilik düzeyi Так что проблема в новых вещах, дело не в том, что новых вещей нет, есть тонны новых вещей, но они никогда не достигают материальности. Meaning, in never reaches like being 10 or 20% of the total company's revenue. |||ulaşmaz||||||||gelir Это означает, что он никогда не достигает 10 или 20% от общего дохода компании. It gets announced, it gets started and then somewhere along the line it dies from the vine. ||duyurulur||||||||||||||asmada kalır О нем объявляют, он начинается, а затем где-то по ходу дела умирает на корню. And so that's where we came with this notion. ||||||||kavram И вот откуда мы пришли с этим понятием. These are questions that basically our clients ask us. That's where the title came from. |||başlık|| How can we achieve a escape velocity? ||||||kaçış hızı ¿Cómo podemos alcanzar una velocidad de escape? Как мы можем достичь скорости убегания? How do we free ourselves from the pull of the past? ||||kendimizi|||||| Как освободиться от притяжения прошлого? So just to make clear, this is not a trivial problem nor is it trivial companies that have struggled with this problem. |||||||||önemsiz, basit, sıradan|||||||||mücadele etti||| Так что просто для ясности, это не тривиальная проблема и не тривиальные компании, которые боролись с этой проблемой. These are some of the very, very best companies that tech has ever put on the playing field. ||||||||||teknoloji sektörü||||||| Это одни из самых-самых лучших компаний, которые когда-либо выпускались на игровое поле. So the notion that you are smarter than this problem, that a Stanford student would not have this problem, even though -- because you are very smart, it's not true. ||kavram|||||||||||||||||||||||||| Так что представление о том, что вы умнее этой проблемы, что у студента Стэнфорда не было бы этой проблемы, даже несмотря на то, что вы очень умны, не соответствует действительности. You will have this problem. У вас будет эта проблема.

So the question then becomes, what the heck is going on? |||||||ne oluyor ki||| Тогда возникает вопрос, что, черт возьми, происходит? And that's about the nicest language I will use tonight. ||||en kibarca||||| И это самый приятный язык, который я буду использовать сегодня вечером. So what's the mistake we keep making over and over again? Так в чем ошибка, которую мы продолжаем делать снова и снова? So it turns out the way that the global management system works, and largely this is a management system that was developed in the United States, but it's become completely global. |||||||||yönetim sistemi||||||||yönetim sistemi||||geliştirilen||||||||| Вот и получается, что работает глобальная система управления, и во многом это система управления, которая была разработана в США, но стала совершенно глобальной. It's a performance-oriented management system. |||odaklı|| Это система управления, ориентированная на производительность. That's how people get compensated in large corporations. ||||tazminat alır|||büyük şirketler Именно так люди получают вознаграждение в крупных корпорациях. So performances -- and by the way, not a bad idea, right? |performanslar||||||||| Итак, выступления — и, кстати, неплохая идея, верно? I mean, performance is critical to success, right? Ведь производительность имеет решающее значение для успеха, верно? And we're good at managing it, but here is the second sense, power fuels performance and performance consumes power. ||||yönetmek|||||||||güç sağlar||||tüketir| Y somos buenos gestionándolo, pero he aquí el segundo sentido, la energía alimenta el rendimiento y el rendimiento consume energía. И мы хорошо справляемся с этим, но вот второй смысл: мощность подпитывает производительность, а производительность потребляет энергию. That is not visible in a large corporation. Этого не видно в крупной корпорации. It's a little bit like this -- you know, when we have this carbon cap when it taxed carbon emissions? ||||||||||||karbon emisyonu|karbon sınırı|||vergilendirildi|karbon emisyonu|karbon emisyonları Es un poco como esto... ya sabes, cuando teníamos este tope de carbono cuando gravaba las emisiones de carbono... Это немного похоже на то, когда у нас есть этот предел выбросов углекислого газа, когда он облагает налогом выбросы углерода? Because right now, if you pollute the air, it's free. |||||kirletirsen|||| Потому что прямо сейчас, если вы загрязняете воздух, это бесплатно. And as long as it's free people will continue with the behavior. ||||||||devam edecek|||davranış И пока это бесплатно, люди будут продолжать вести себя так. Well, consuming power in most compensation systems, in most corporations is free. |tüketilen|||çoğu|tazminat sistemleri|||çoğu|şirketler|| Что ж, потребляемая мощность в большинстве систем компенсации, в большинстве корпораций бесплатна. And further more, creating power, say around a new strategy, is not compensated. |dahası||||||||strateji|||telafi edilmez Y además, crear poder, digamos en torno a una nueva estrategia, no se compensa. И более того, создание власти, скажем, вокруг новой стратегии, не компенсируется. So I get compensated for consuming power for my performance. |||tazminat alıyorum||tüketmek||||performansım için Так что я получаю компенсацию за потребление энергии для моей производительности. I do not get compensated nor do am I held accountable except in the most kind of qualitative ways for generating power. ||||tazminat almıyorum|||||sorumlu tutulmak|sorumlu tutulmak|hariç tutarak|||en fazla|||niteliksel|||üretmek için| No se me compensa ni se me responsabiliza, salvo de la forma más amable y cualitativa, por generar energía. Я не получаю компенсацию и не привлекаюсь к ответственности, за исключением самых качественных способов производства энергии. So why would you be surprised that large organizations systematically consume their power? ||||||||kuruluşlar|sistematik olarak|tüketmek|| Так почему же вас должно удивлять, что крупные организации систематически потребляют свою энергию? Now, the interesting thing is, in a mature industry you can do that for a long, long time. |||||||olgunlaşmış|sektör||||||||| Что интересно, в зрелой отрасли вы можете делать это очень-очень долго. General Motors consumed its own power for 40 years. |Motorlar|||||| General Motors потребляла собственную энергию 40 лет. Eventually, it ran out of power. Sonunda||||| Al final, se quedó sin energía. В конце концов, у него закончилась мощность. Eventually, the battery will go dead. Sonunda||||| В конце концов, батарея разрядится. But it takes a long, long time. And the performance metrics don't track against that. |||performans ölçütleri||izlemek|| И показатели производительности не учитывают этого. So we need to replenish power if we're going to go for the long-term. ||||yeniden doldurmak|||||||||| Так что нам нужно пополнить запасы энергии, если мы собираемся работать в долгосрочной перспективе. People get that conceptually, behaviorally, it's hard to integrate it into the corporate systems. İnsanlar|anlıyor||kavramsal olarak|davranışsal olarak||||entegre etmek||||| Люди понимают, что концептуально, поведенчески, это трудно интегрировать в корпоративные системы. And part of the problem is we don't have a very good vocabulary for talking about power, right? ||||||||||||||konuşmak|hakkında|| И часть проблемы в том, что у нас не очень хороший словарный запас, чтобы говорить о власти, верно? People recognize it when they see it. Люди узнают его, когда видят. This is the Supreme Court justice about pornography, right? |||Yüksek Mahkeme||Yargıç||Bu, Yüksek Mahkeme yargıcının pornografi hakkındaki görüşü, değil mi?| Это судья Верховного суда о порнографии, верно? I can't define it but I know when I see it. |tanımlayamam|tanımlamak|||||||| Я не могу определить это, но я знаю, когда я вижу это. Well, the same thing with power.

But the problem is if you can't define it, if you can't articulate it, how the heck are you going to hold anybody accountable to it? |||||||tanımlamak|||||ifade etmek||||nasıl olur da||||||herkesi|sorumlu tutmak|| Но проблема в том, что если вы не можете определить это, если вы не можете сформулировать это, как, черт возьми, вы собираетесь привлечь кого-то к ответственности за это? How are you going to make sure -- and by the way, when you lack power, it will show up in your stock price. |||||||||||||güçsüz olduğunuzda||||||||hisse senedi fiyatı|hisse fiyatı ¿Cómo vas a asegurarte? Y por cierto, cuando te falte poder, se notará en el precio de tus acciones. Как вы собираетесь удостовериться — и, кстати, когда вам не хватает власти, это отразится на цене ваших акций. Not in the earnings because performance creates earnings in the P of the PE ratio; the Price to Earnings ratio. |||kazançlar||||||||||F/K oranı|oran||||Kazançlar|oran Не в прибыли, потому что производительность создает прибыль в соотношении P к PE; соотношение цены и прибыли. It's the P that -- P is for power, right? And so if you have a lot of power, you will have a high PE ratio, you'll have a high multiple on your stock. ||||||||||||||F/K oranı||||||çarpan oranı|||hisse senedi Итак, если у вас много власти, у вас будет высокий коэффициент PE, у вас будет высокий мультипликатор на акции. When you consume power and don't replenish it, you'll see it going to one and even below one as you get into trouble. ||tüketmek||||yenilemek|||||||||||||||| Когда вы потребляете энергию и не пополняете ее, вы увидите, что она достигает единицы и даже ниже единицы, когда вы попадаете в беду. And so what happens in a world in which we don't consciously manage power, is we continue to put anxiety and pressure to perform, perform, perform, but every quarter it's a little harder to do than the last quarter. |||||||||||bilinçli olarak||||||||kaygı ve baskı||baskı||başarılı olmak|||||||||||||||çeyrek yıl Итак, что происходит в мире, в котором мы не управляем властью сознательно, мы продолжаем испытывать тревогу и давление, чтобы выполнять, выполнять, выполнять, но каждый квартал это сделать немного сложнее, чем последний квартал. And then if you eke out that quarter you get to try again and the numbers keep going up and your power keeps going down, and so you become kind of neurotic. ||||zor bela kazanmak|||çeyrek dilim||||||||||||||||||||||||takıntılı hale gelirsiniz А затем, если вы отыграете этот квартал, вы сможете попробовать еще раз, и цифры будут продолжать расти, а ваша сила будет падать, и вы станете чем-то вроде невротика. I mean, and there's kind of a sort of a collective neurosis around the end of the quarter and it becomes this incredible event which you must not sacrifice anything to. ||||||||||kolektif nevroz|kolektif nevroz||||||çeyrek yıl sonu|||||inanılmaz||||||feda etmek|| Я имею в виду, что в конце квартала возникает что-то вроде коллективного невроза, и это становится невероятным событием, ради которого вы не должны ничем жертвовать. And when you're that desperate, you've already missed the quarter. ||||çaresiz|||||çeyrek yıl You just question which quarter are you going to miss because you're so far behind the power curve, you've lost touch with the engine of your own company. ||||çeyrek yıl|||||||||||||güç eğrisi|||bağlantıyı|||||||şirketinizin motoru Вы просто задаетесь вопросом, какой квартал вы пропустите, потому что вы настолько отстали от кривой власти, что потеряли связь с двигателем своей собственной компании. The people kind of get this but they can't translate it into behavior. |||||||||dönüştüremiyorlar|||davranışlara Люди как бы понимают это, но не могут воплотить в поведении. So this is what we call the performance trap. |||||||performans tuzağı|performans tuzağı Это то, что мы называем ловушкой производительности. And many cultures are very proud about being a performance culture. ||kültürler|||gurur duyar|||||kültürler И многие культуры очень гордятся тем, что являются культурой производительности.

So it's a little bit provocative when we sort of put this out there but we're pretty confident in the case we're making. |||||kışkırtıcı||||||||||||emin||||| OK, so what would you do? And the answer is you need to manage power explicitly or directly. |||||||||açıkça||doğrudan We have to find the mechanism to do that. |||||mekanizma||| What you discover is the performance activity begins when you start next year's annual budgeting process by handing out last year's budget and saying, you see the fourth quarter numbers, multiply them by four and start there. |||||||||||||yıllık bütçe|bütçeleme süreci|||dağıtmak||||bütçe planı||||||dördüncü çeyrek|çeyrek yıl||çarpın|||||| Lo que se descubre es que la actividad de rendimiento comienza cuando se inicia el proceso presupuestario anual del año siguiente repartiendo el presupuesto del año pasado y diciendo: ves las cifras del cuarto trimestre, multiplícalas por cuatro y empieza por ahí. Вы обнаружите, что деятельность по повышению эффективности начинается, когда вы начинаете процесс составления годового бюджета на следующий год, раздавая прошлогодний бюджет и говоря: вы видите цифры за четвертый квартал, умножаете их на четыре и начинаете с этого. And that immediately starts a zero sum game about resource allocation which is why it's so hard to move resources inside the company because the person is looking at, I have a bigger number to make next year than I have last year, they froze my resources, at least in theory, the last thing I can contemplate is using my resources for something else. ||hemen|||||||kaynaklarımı kullanmak|tahsis edilmesi|||||||||kaynaklar||||||kişi|||||||||||||||||||dondurdular||||||teoride||||||düşünmek||||||| И это немедленно запускает игру с нулевой суммой о распределении ресурсов, вот почему так сложно перемещать ресурсы внутри компании, потому что человек смотрит на то, что в следующем году мне нужно заработать больше, чем в прошлом году, они заморозили мои ресурсы, по крайней мере теоретически, последнее, о чем я могу думать, это использовать свои ресурсы для чего-то другого. And so immediately -- so if you're going to get ahead of that problem as a management team, now you're the CEO and you're running your annual calendar, the quarter before you would start your budgeting strategy process, you start the power process. |||||||||||||||yönetim ekibi||||||||||yıllık|||||||||bütçeleme stratejisi|strateji süreci|||||| Y así de inmediato -- por lo que si usted va a salir adelante de ese problema como un equipo de gestión, ahora usted es el CEO y está ejecutando su calendario anual, el trimestre antes de que usted comenzaría su proceso de estrategia presupuestaria, se inicia el proceso de poder. И так сразу — так что если вы собираетесь опередить эту проблему как управленческая команда, теперь вы генеральный директор и вы ведете свой годовой календарь, за квартал до того, как вы начнете процесс составления стратегии бюджета, вы начнете силовой процесс. And by the way, in that -- if you don't have a specific resource allocation pressure or sword of Damocles hanging over your head, there's lots of stuff to do here. |||||||||||||kaynak tahsisi|baskı||||Demokles'in kılıcı||||||||||| Y por cierto, en eso... si no tienes una presión específica de asignación de recursos o una espada de Damocles pendiendo sobre tu cabeza, hay muchas cosas que hacer aquí. И кстати, если у вас нет особого давления на распределение ресурсов или дамоклова меча, висящего над вашей головой, здесь есть чем заняться. People have lots of ideas about the next category, the next things you want to get into, how we could be successful, there's lots of opportunities. ||||||||kategori|||||||||||||||||fırsatlar У людей есть множество идей о следующей категории, о том, чем можно заняться, о том, как мы можем стать успешными, о множестве возможностей. The key idea is allocate resources to those initiatives before you allocate anything else. ||||tahsis etmek|kaynaklar|||girişimler|||tahsis etmek|| Основная идея заключается в том, чтобы выделить ресурсы на эти инициативы, прежде чем выделять что-то еще. In the last book, we called this fund core before context. |||||||fon|||bağlamında En el último libro, llamamos a este fondo núcleo antes que contexto. В предыдущей книге мы назвали этот фонд ядром, а не контекстом. But that's not what happens at large corporations. |||||||büyük şirketler Once the budget goes out you're funding context before core. ||||||finansman sağlama|bağlam|| So do it before, drive accountability for power into the operational plan. |||||sorumluluk alma|||||operasyonel| Поэтому сделайте это раньше, включите ответственность за власть в оперативный план. There are metrics of power. ||güç ölçütleri|| Sales velocity you know, share capture and target segments. |Satış hızı|||||||hedef segmentler Скорость продаж, которую вы знаете, захват доли и целевых сегментов. There's a bunch of stuff that even market share itself, there's a bunch of stuff that demonstrates that you have accumulated more power but you have to create those metrics and put them in the comp plan. |||||||||||||||||||||||||||||ölçüm kriterleri||||||karşılaştırma planı| Hay un montón de cosas que incluso la propia cuota de mercado, hay un montón de cosas que demuestran que has acumulado más poder, pero tienes que crear esas métricas y ponerlas en el plan de compensación. Есть куча вещей, которые даже определяют долю рынка, есть куча вещей, которые демонстрируют, что вы накопили больше власти, но вы должны создать эти показатели и включить их в план вознаграждения. Today they're not in the comp plan. Сегодня их нет в плане компа. The comp plan is based on revenue and earnings generation in the current quarter and in the current fiscal year. ||||||||kazançlar|oluşturma||||çeyrek dönem|||||mali yıl| Компенсационный план основан на доходах и прибылях в текущем квартале и в текущем финансовом году. It is a consumption-oriented comp plan, it is not a replenishment oriented comp plan. |||tüketim odaklı||prim planı||||||yenileme odaklı||| Es un plan de compensación orientado al consumo, no a la reposición. Это план компенсации, ориентированный на потребление, а не план компенсации, ориентированный на пополнение. The fact that you got stock options is intended to incent you to want to replenish but is too indirect. ||||||||amaçlanmıştır||teşvik etmek|||||yenilemek||||dolaylı El hecho de que tengas opciones sobre acciones pretende incentivarte a querer reponer, pero es demasiado indirecto. Тот факт, что у вас есть опционы на акции, предназначен для побуждения вас к пополнению, но это слишком косвенно. It's just too indirect a metric to make it work. |||dolaylı||ölçüt|||| Это слишком косвенная метрика, чтобы заставить ее работать. But you can do it. You can add power metrics to performance, you can earmark resources for power program usage only, and you can modify the comp program to hold people accountable to do it in ways that people will sign up for it. |||||||||tahsis etmek|kaynaklar|||||||||değiştirebilirsiniz||ödül programı|||sorumlu tutmak||sorumlu tutmak|||||||||||| Puedes añadir métricas de energía al rendimiento, puedes destinar recursos sólo al uso del programa de energía y puedes modificar el programa de compensación para que la gente se responsabilice de hacerlo de forma que la gente se apunte a él. Вы можете добавить метрики мощности к производительности, вы можете выделить ресурсы только для использования программы мощности, и вы можете изменить программу компенсации, чтобы привлечь людей к ответственности за ее выполнение способами, которые люди подпишутся на нее. But to do it and kind of where this book comes in, is you kind of need a better vocabulary to talk about power.