Business Best Practices
When Debbie and I realized that the temperature would exceed 70° F, we took the afternoon off this past Tuesday. It was a beautiful fall day. Living in the Chicagoland area, we were aware that this might be the last time for playing golf, while enjoying the warm weather.
We gathered our bags and drove 20 minutes to the Indian Boundary public golf course, which borders the Des Plaines River. It was a glorious day, and the trees displayed their magnificent colors. We walked, talked and took-in nature. How delightful!
In prehistoric times, southern Native Americans traveled on the Des Plaines River, and they met with northern tribes and traded with them for copper. At the 7th hole, I took a picture of a pond, which reflected back the clouds and the trees’ vibrant colors. I wondered: 7,000 years ago were the Indians as awestruck as I was by this scene?
Later, other tribes, including the Potawatomis, traversed the trails and waterways in this area, where they engaged in hunting, trapping, trading and war parties. My father unearthed evidence of their presence. As a child, he found–within a mile’s distance from the river–Indian arrowheads in a field,
Arrowheads found near the Des Plaines River
As we drove home, Debbie and I both realized that this experience will soon become a fond—but distant—memory come January when the mercury drops and the cold northern winds blow through Chicago. This realization made us treasure the experience even more.
An ancient philosopher once said that the good life involves fulfilling ones spiritual, mental, social and physical needs. Connecting with nature and my life-partner on a glorious autumn afternoon is as good as it gets.
What do you do in the fall to renew your spirit?
Thatcher Woods in February: 5 miles from Chicago
At a holiday party, I met a doctor and his wife who grew up in Miami, Florida. Not only are they residents of Chicago, but they are enthusiastic proponents of living in this currently frigid environment.
Given our well-deserved reputation for having blustery winter weather, I was curious to learn about what made them such avid fans of the city. They seemed to defy the normal migration path, which usually results in people moving from the cold, northern climes to warm and sunny southern destinations. At least that is the path that one of my sisters took, having moved from Oak Park, Illinois to New Orleans many years ago. Whenever she visits us, she asks the question: “How can you stand to live in this frigid climate?”
Getting back to Dr. S., he suggested that the weather in the deep south isn’t always all that it is cracked up to be. He painfully recounted memories of his youth, when, during the course of hot and humid summer days, he had to peel multiple shirts off of his back, because they were drenched in sweat.
Apart from the weather, the third largest city in the country has many attractive aspects that are absent from other locales: a diverse economy where a variety of career paths are available for those who are industrious and well educated; cultural amenities—such as the Lyric Opera, the Art Institute, The Chicago Symphony Orchestra, live theatre, and so on—that are non-existent in many tropical climates; housing prices that are relatively stable compared to some of the “hot” southern destinations; and a variety of other events, sporting teams and amenities that are often absent from warm, tourist meccas.
Despite our proclivity for talking about the inclement weather during social events, what matters most—in determining where to live—is the relationships that we form with other people. Whether one lives in the south or north, it is our friends, family and other significant people that makes all the difference.
As much as Chicagoans complained about the 2 feet of snow that we experienced last week, the prospect of moving to a warm weather climate is daunting, if you consider what it takes to develop relationships with strangers. A recent AARP survey indicated that 2/3 of adults age 45 and older deem it extremely important to be near friends and/or family. The survey of 1,615 adults concluded by stating that “wanting to remain in one’s home and one’s community as one ages continue to be paramount.”
This philosophy of life is known as aging in place. Its adoption is impacting major industries—from home building to retail.
How important is the weather in determining where you live?
This past week my wife and I traveled to New York City—together with good friends—to see the 2010 US Open tennis tournament. As an avid tennis fan, this trip is as close to nirvana as one could get. I play the sport twice a week, and follow the professional players who are on tour.
In addition to watching matches at Arthur Ashe stadium, the largest tennis arena in the world (see photo), we saw the Broadway musical revival “Promises, Promises.” During the middle of the performance, we were delighted when Ellen DeGeneres made a surprise, cameo appearance. For exercise, we walked throughout the Big Apple, taking in the street scenes of Greenwich Village, Chelsea, and the Upper East Side.
If there is such a thing as a good life, then this trip has to qualify as an important ingredient. Experiencing all that the Big Apple has to offer with friends builds memories that will last for years. In contrast, buying stuff and keeping up with the Jones provides a more ephemeral form of happiness.
An August 10, 2010 New York Times article–But Will It Make You Happy—buttresses this point of view. In terms of producing lasting happiness, psychologists’ research suggests that people “derive longer lasting satisfaction” when they spend money on experiences instead of material objects. Moreover, the greatest value for the dollar spent comes from making expenditures on experiences that enhance social relationships.
So, before you go out and buy that new couch, consider whether this will really be the best way to spend your money. You might enjoy the fresh smell of new leather for several months, but a vacation with friends can build memories that last a life-time.
What expenditures bring you the most happiness?
The woodcutter who chops down the tree must allocate time to sharpen the saw; otherwise, felling the tree takes longer than it should. Often, we are so focused on producing results (“sawing”), that we neglect the task of “sharpening the saw.” In his book, The Seven Habits of Highly Effective People, Stephen Covey used this metaphor to describe the energy that we must exert to increase our personal capacity in four dimensions: mental, social, physical, and spiritual.
I have discovered that one way of staying sharp is by learning how to play bridge. Although I learned some of the bridge-playing basics from my parents, the game never took root, until recently. Specifically, I have learned to enjoy the game under the guidance of Bob Dolan, who conducts classes at the Oak Park (Illinois) Park District.
Bridge is quite unlike other card games such as Gin Rummy, because it requires a significant amount of mental energy on the part of those who play it. Furthermore, to improve, one must memorize certain conventions with odd sounding names such as Stayman and Jacoby Transfer. Memorization relates not simply to conventions, but also applies to keeping tract of the cards that are played. For example, in most hands, one of the four suits is designated as the trump suit. As cards in the trump suit are played, one must keep a running tally. Anyone over the age of 46 years old who has memory challenges—such as recalling the name of that acquaintance you haven’t seen for over a year—will discover that playing bridge strengthens your mental memory muscles.
Also, our mathematical abilities come into play. Players must compute the number of points in their hands as wells as estimate the points that are represented in other peoples’ hands. Likewise, bridge exercises our statistical and logical competencies. In terms of the former capability, sometimes one has to estimate the probability that the cards are distributed in a certain way; and in terms of the latter proficiency, one must often use deductive reasoning to determine what the appropriate bid should be.
According to our teacher, at the highest levels, bridge is more complicated than chess. For example, no one has been able to program a computer to successfully play bridge whereas in the case of chess, computers have beaten grandmasters.
In additional to exercising our mental faculties, bridge necessitates the use of certain social skills. The ability to communicate with ones partner–thereby building a relationship–can mean the difference between victory and defeat. Poor communication between partners can result in prickly moments. As reported in a front-page article in the New York Times, on the evening of September 29, 1929, two couples—the Bennetts and the Hofmans—played a game of bridge. Towards the end of the game, Mrs. Bennett excused herself, went to the bedroom, got a revolver and shot her husband dead with two bullets. Apparently, she shot her husband because of the way he bid. Furthermore, she didn’t like the way he played his bridge hand. Mrs. Bennett was acquitted. I am happy to report that my experiences with miscommunication have not been quite so harrowing.
In conclusion, bridge is a distinctly social game played with a partner. It is also a mentally demanding game that requires a commitment to master. Thus far, I have only taken baby steps in learning the basics. But at last nights’ lesson, I joined the American Contract Bridge League. My hope is that by joining this organization, I will solidify my commitment to the game. This in turn will further sharpen the well-honed tools that are required to succeed, not only in bridge, but in other facets of our increasingly complex world. Let me conclude this post by saying….wait…just one second…now where did I leave my glasses?????
How do you sharpen your saw?
On June 24th , the Social Media Club Chicago (SMC) mixed it up with attendees in town for TN2020, an international summit hosted by the British Council. The event was titled Social Media for Global Social Good. Barbara Rozgonyi, co-founder of the SMC, provided a summary of the event, which was held in the Wolf Point Ballroom at the Holiday Inn Mart Plaza in downtown Chicago.
The quality of the presentations varied considerably. For example, Adi Diaz, co-founder of Epic Fu on-line, delivered a highly energized, animated talk that captivated the audience. Diaz described how she strategically used WEB videos to build a profitable web site that is dedicated to the “geek” culture. Not only was the speech entertaining, it also included many practical tips that enabled Diaz to achieve “35 million views” of Epic Fu. In contrast, some of the speakers were dry. For example, Noel Hidalgo, Director of Technology Innovation, New York State Senate, described how social media is ostensibly “transforming” one of the most corrupt state legislatures. I compared notes with the person sitting next to me, and we both felt that Hidalgo’s speech was, at best, lackluster.
But the real stars of the event were the attendees, not the speakers. The energy in the hotel’s ballroom was palpable, largely fueled by the international visitors from TN2020 (Transatlantic Network 2020). This highly selective group consists of very talented achievers who range in age from roughly 25-35 years old. One of its main purposes is to “revitalize transatlantic and global links for the future by building coalitions of young Europeans and North Americans to take collaborative action on global issues.”
During the networking portion of the program, I spoke with several members.One of them, a young Canadian, had a personal mission to promote greater understanding of climate change among institutions. His passion towards reducing our dependency on fossil fuels was matched only by his intelligence in discussing sociological perspectives about how institutional transformations occur.
Another young person in attendance (not a member of TN2020) is currently a PhD candidate in economics at the University of Chicago. This individual was equally ardent about bringing forth social change. However, he believed that only the for-profit sector can improve the lot of mankind. His thesis is that non-profits can’t amass the capital that is required to significantly advance the social good.
After reflecting upon my conversations with these millennials (those who were born after 1980), I thought back to a point that had been made 35 years ago, when I listened to a lecture given by Merton Miller at the University of Chicago Booth School of Business. Miller, a Noble prize winning economist, espoused the view that major changes in economic theories don’t actually take place until the originators of the old theories die-off.
Our current environmental disaster, the oil spill in the Gulf of Mexico, is a good case in point. In countless State of the Union messages over the past 40 years, US Presidents—from Nixon to Obama—have advanced the notion that solving our energy crisis is a major national priority:
“I have a series of plans and goals set to ensure that, by the end of this decade, Americans will not have to rely on
any source of energy beyond our own…we can be confident that the energy crisis will be resolved, not only for our time,
but for all time… The capacity for self-sufficiency in energy is a great goal. It is also an essential goal, and we are going to achieve it.”
—-President Richard Nixon speaking on November 25, 1973
After attending last Thursday’s get-together, I am beginning to realize that to achieve our goals of energy self-sufficiency—and a clean energy future—we need help from the global community. Furthermore, the strategies—for achieving these visions—reside in the minds of young, bright people, like those who were in the ballroom. They will be the ones who will eventually make our collective energy-vision, a reality.
