In this episode, Dustin talks with Roger Martin about his book, When More Is Not Better: Overcoming America's Obsession with Economic Efficiency.
You'll discover how our obsession with economic efficiency has forced too much pressure in a pursuit of perfectionism. Roger and I discuss how this has resulted in a dangerously unbalanced economy that lacks resilience. Roger gives practical tips on what business executives, political leaders, educators and citizens can do to achieve the overall balance between efficiency and resilience.
Roger says, "Efficiency itself is not the problem, it's the proxies we use for efficiency." Using proxies like quarterly earnings or cost reduction might show improved efficiency, but this is not the same as effectiveness. If you focus on the wrong proxies in the short term, you will do things that are damaging in the long run to achieving the best results, like providing excellent customer service or delivering long-term shareholder value.
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Links Mentioned in The Burleson Box:
When More Is Not Better
The Bank Act (Canada)
Efficiency vs. Effectiveness with Peter Drucker
Aristotle, Nicomachean Ethics and Happiness
Johnson & Johnson Credo
The High Cost of Low Wages
Four Seasons: The Story of a Business Philosophy