12/5/20 Power Five

1. How Do CEOs Make Strategy – “We report three key results. First, different CEOs use markedly different processes to make strategic decisions; some follow highly formalized, rigorous, and deliberate processes, while others rely heavily on instinct and intuition. Second, more structured strategy processes are associated with larger firm size and faster employment growth. Third, using a regression discontinuity centered around a change in the curriculum of Harvard Business School’s required strategy course, we trace differences in strategic decision making back to differences in managerial education.

2. Satirist to the Galaxy – “‘One peculiar feature of our relationship is that you are the one person in this world to whom I like to write,’ he told her in 1943. “If ever I do write anything of length—good or bad—it will be written with you in mind. … And let’s have seven children xxxxxxx.” Two weeks after V-J Day, they married and raised, yes, seven children, three of their own plus four young nephews, orphaned after their father’s commuter train fell into Newark Bay two days before Alice died of cancer.” From the new book Love Kurt: The Vonnegut Love Letters 1941-1945

3. The Social Life of Forests – “Trees appear to communicate and cooperate through subterranean networks of fungi. What are they sharing with one another?”

4. Atul Gawande on Coronavirus Vaccines and Prospects for Ending the Pandemic – “There’s so many things that went wrong, but you can boil it down to the difficulty of pulling together. One of the most critical things you have in the toolbox in public health is communications. It’s your ability to have clear priorities and communication about those priorities to your own public and to all of the players who get stuff done. We didn’t get testing started early. We weren’t calling the laboratories together to get testing built and created right from the get-go. And then fast-forward to where we are today. We still are in a world where we have not had clear communications from the top of the government around whether we should be wearing masks and having an actual national strategy to fight the virus. I would boil down what went wrong to not committing to communicating clearly and with one voice about the seriousness of what we’re up against and what the measures are to solve it.

5. Wildlife Photographer of the Year Voting – Have your voice heard in the People’s Choice Award.

Price-Earnings Ratio is the same today as it was on the eve of the Great Depression.