Most of what I write about draws on my experience as an investor over the last four decades, and my investment company interests. However, my role as an architect has taught me many valuable lessons as well. One of my most cherished lessons comes from the United States Marines Corps.
Constant Mission Improvement
The concept of Constant Mission Improvement was presented to me in early programming and design meetings for an aircraft maintenance training facility at the U. S. Marine Corps Air Station, Camp Pendleton, CA. There is nothing complex about the concept. Simply stated, everything shall be reviewed on a constant basis for potential improvement, and if something can be improved then strive to make it happen. This means that each team member, owners representatives designers, engineers, managers and the rest shall be on the look out for ways to make the project better all the time.
Think of Jack Welch's adoption of the Six Sigma program; disciplined, data-driven approach and methodology for eliminating defects (driving towards six standard deviations between the mean and the nearest specification limit) in any process.
Think of what eBay (EBAY) should be doing and is not.
The Internet creates the opportunity to make this process much more robust than ever before. This in essence is how Linux was envisioned, and for the most part how it evolved. It demands the ultimate in cooperation.
One for all, and all for one! Think of the Marines as the "Three Musketeers" times 10,000. The Marines are the ultimate team players. I think we were practicing Constant Mission Improvement already when we came upon the term but it added clear definition to our thinking. Clarity of mission is a related aspect of the process. How are you supposed to solve a problem or accomplish a goal if it is not clearly defined? So defining the mission is the first critical step.
Among our BloggingStocks companies, I think Time Warner (TWX) with its multitude of enterprises has the greatest problem with clarity of mission. Carl Icahn seems to want to help management with this. From an investor's point of view, don't you feel like they have been trying to figure things out for the past eight to ten years, even pre-merger with AOL? It probably was one of the factors that lead to the fiasco of a merger in the first place. Mr. Icahn sees the company as worth more in pieces because he rightly knows that focus and clarity will add value. It will allow investors to have a better understanding of the mission and its potential.
If Microsoft (MSFT) does not watch out it could, too, end up in a very muddled place. I think it has been heading in this direction as management searches for the next big thing and tries to sustain its market position in the mean time.
Can-Do Attitude: It seems to me that Google has implemented some form of Constant Mission Improvement. Google (GOOG) and Apple (AAPL) apear to be the most focused of our BloggingStocks companies at this time, and they have seen the greatest reward in recent history-- Go Eric, Go Steve! Federal Express (FDX), Southwest Airlines (LUV), Starbucks (SBUX), and Toyota (TM / ADR) come to mind as well. There are many, and success can be fleeting, so the word constant is not to be understated. Dell is similary focused; but it may have been focused on the wrong thing for a while.
GM, Ford, Home Depot, and eBay are companies that seem to lose their way at times. Home Depot may be on the road back sooner than the others. They are in the process of redirecting their efforts. Just give me a call, folks I think I can help you with this! Or maybe it's "time to call in the Marines" (used to be the Cavalry)...or the children's version-- I think I can, I think I can, I think I can...choo choo!
Joy at BloggingStocks.com: Our editors Amey Stone and Sarah Gilbert have been terrific at facilitating our story ideas. We work as a team to present ideas, and the challenge of being relevant and interesting while always polishing has been rewarding so far. I give credit also to those with some wisdom to add in their comments from time to time. They keep us sharp and more focused and also spark additional ideas to ponder for future posts...so keep it coming. I'm not always great at accepting criticism but I do enjoy making things better.
Everyone should practice Constant Mission Improvement I have worked with every branch of the Departmentof Defense but the Marines were the best. From my experience they are as special as they present themselves; The Few, the Proud, the Brave.
Sheldon Liber is the CEO of a small private investment company and the vice president for Design and Research of an Architecture & Planning firm.
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Reader Comments (Page 1 of 1)
9-06-2006 @ 2:53PM
Victor Agreda Jr said...
ebay's not doing a lot... Good point. They have the cash cow, and getting the myopia so common in that position. Been there, seen that.
9-06-2006 @ 3:06PM
Simon said...
Ebay are now a dead duck. They've alienated their customers, as well as making their long-term shareholders VERY nervous.
9-06-2006 @ 3:19PM
Gordon said...
I totally agree and it seems like Googles organization structure,which I have been trying to understand, is geared to that approach and result. It appears to be some sort of independent "floating cell" type of structure where the cells work independently and toward common goals at the same time - brilliant,
9-06-2006 @ 4:03PM
Brian Snale said...
The trouble is big monolithic organisations can sometimes be slow to respond, quick response requires independent action. Presumably in eBay it has to come from the top.
If it has to come from the top then Meg Whitman and Bill Cobb can sort this in 10 seconds, admit they got it wrong, and go back to how it used to be. Will they do it before the shareholders rebalance the employment marketplace with two more executives!
9-07-2006 @ 3:50AM
Graham said...
Enjoyed the post Sheldon.
A quick thought. I think you said Camp Pendleton was in Ca? If so, can we send the Marines in to eBay HQ to save the day?