Andy Grove, the former CEO of Intel, died last week. His book “High Output Management” is one of my favorites – and I was only introduced to it in 2014 (when I reviewed Ben Horowitz’s book for the WSJ – see here – and here for an introduction to the book by Ben.
Grove’s book is full of wisdom, some of my favorite pieces of advice are:
– It’s very important to send out a recap after a meeting afterwards on what needs to be done. If it’s important enough to hold the meeting, it’s important enough to write notes.
– By saying yes to something you are implicitly saying no to something else.
– Plan in the way a fire department does. You can’t anticipate when the next fire will be, so have a team capable of responding to an unanticipated event as well as an ordinary one.
– Delegation is key to management. But delegation without follow up is abdication.
– Before including people in meetings, ask are they necessary – otherwise you’re wasting the company’s money. (People are worth a certain amount per hour to a company. And just like any purchase, say above $1,000 needs to be justified, shouldn’t the use of someone’s time be treated the same?)