Part of strategy is figuring out what you're good at, figuring out what you're not good at, and then getting yourself in position to succeed by doing mostly what you have a competitive advantage doing.
Jeffrey PfefferTo paraphrase the late management thinker and writer, Peter Drucker, thinking is hard work, which is why so few people (including actually senior managers) do it. Once there is some "conventional," seemingly-reasonable story, people just accept it and don't ask, "is this actually true? Is it consistent with the data?" And this extends to the highest reaches of organizational life.
Jeffrey PfefferTypical pay increases are not enough to motivate employees, but they are enough to irritate them. โฆ Even when companies create seemingly significant pay differentiation between low and high performers, the actual cash increase is insufficient to sustain performance โ or it drives the wrong behaviors. โฆ Effective management is a system, not a pay plan. The mistake is that companies try to solve all their problems with pay.
Jeffrey PfefferConsider the many financial industry executives who walked away with many millions as their organizations failed - I think the expression is "failing upward." People also need to understand that their "technical" job performance is correlated with their career success, but again, many other factors such as educational credentials, length of service, and yes, political skills, also contribute to success. So people need to understand business and technical issues but they also need to master organizational dynamics.
Jeffrey Pfeffer