Infinite Games
The goal of infinite game is to shift the focus of orgs from winning every quarter to building resilient organization that can last decades
Long term interests of company will be threaten if we play infinite game with finite mindset
Infinite minded orgs think in terms of generation and not quarters
The 5 principles of infinite minded orgs:
Exist to further a just cause
Build trustworthy Teams
Find worthy rivals
Find the courage to lead
Prepare for existential flexibility
There is no winning in infinite game, the objective is to keep playing as long as one can, examples include friendship, marriage and business
Infinite minded leaders 1. Focus on vision that is best for everyone 2. Understand metrics such as quarterly revenue are merely progress markers
Infinite minded orgs are build for resilience as they embrace disruptions/surprises and adapt to them.
Display existential flexibility to make extreme strategic shifts
A just cause is a clear vision that is bigger than the organization it serves to further as this provides the long-term motivation, direction and purpose to play the infinite game
The core task of ceo should not be to manage operations but rather supply vision to other c-level officers and ensure they are making focussed efforts to advance it; 1. A CEO should focus on execution of long-term vision 2. COO should focus on business plan and operations required to make CEOs vision happen.
High speed growth is no indicator that a company is built to last
Milton freedmens' theory that a business is made to generate profits for share holders has yielded short-termist practices such as annual layoff; 1. An infinite minded leader should consider both shareholders and employee as equal contributors; 2. Shareholders contributes resources and contributes and Employee contributes time and energy; 3. Both must be fairly rewarded.
An infinite minded org must have three pillars: 1. Advance a higher cause, 2. Protect employees, customer, and environments 3. Generate profits to continue success for as long as possible
Will and resources are an orgs two currency in infinite game; 1. Resources come from investors and customers, Will comes from motivation within the org, 2. During tough times finite minded leaders see resources such as people as cost and prioritize resources over will; infinite minded leaders prioritize will and understand motivation drives discretionary effort and creativity which is the basis for long-term growth
Orgs that leverage incentives and perks to generate will, create a mercenary culture with little to no employee loyalty
Prioritize Will over resource as it will bring in more of both
Leaders should build circle of safety where employees feel safe to admit mistake this helps in improving performance in the long run
Prefer individual demonstrating low performance high trust
Do not permit unethical acts at any costs as this will have long term effects at devastating price
Ethical fading is a peoples problem that can only be handled by building trustworthy teams that prioritize accountability.
Infinite game: 1. promotes two or more participating organization to excel simultaneously. 2. Continuously pushes organization to do better
Infinite leaders are flexible to risk extreme disruption in product or strategy even during good times since they understand that its much bigger risk to stagnate and continue down the current safe path
Kodak who was initial player in research and development of digital camera didn't do choose to prioritize safe path of staggering revenue over long term potential of disrupting change
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