Word: succession
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...phenoms, at Cannes and in Hollywood, within a couple years of each other. Steven Soderbergh brought his first feature here in 1989. That's when sex, lies, and videotape proved itself a come-from-nowhere winner of the Cannes Palme d'Or in 1989, then a sizable commercial success, Quentin Tarantino showed Reservoir Dogs at Cannes in 1992, but that was the merest fanfare to his Pulp Fiction, a Palme d'Or triumph in 1994 and probably the defining movie - certainly the most vivid, film-wise comic epic - of its decade...
...with all its Mars landers, NASA is keeping the expectations for Phoenix's lifespan low. If the ship operates for just a few months before the punishing climate of the Martian poles kills it, the mission will still be considered a success. Like the other Mars landers before it, however, this one is designed with a much longer stay in mind. The Spirit and Opportunity rovers bounced down on Mars in 2004 with a similar lowball goal of just 90 days of operational life. Yet despite arthritic wheels and joints and the need for periodic power-conserving naps, both...
...tolerance for risk, and most people would be wrong. Having studied 22 years of performance data on more than 7,000 growth companies, I discovered that the idea that entrepreneurs are, by definition, risk takers is a myth. Curiously, many entrepreneurial leaders actually lose their nerve as they become successful. That may sound like a reasonable trade-off, but this tendency can hurt a firm's chances for long-term success and growth...
...things. Cook reported that when his company launched its Quicken software program, there were already 46 similar products on the market--causing him to joke, "We enjoyed 47th-mover advantage." Columbia University business professor Amar Bhidé found that only 12% of growth-company founders surveyed attribute their success to an "unusual or extraordinary idea"; 88% reported that their success was due mainly to "exceptional execution of an ordinary idea." There's a lower risk in getting the details right...
...entrepreneurial leaders are not, by definition, big risk takers, just what is the relationship between a willingness to take risks and the long-term success of a business? There is a relationship, but it is not one you would expect. The evidence suggests that as entrepreneurial leaders become more successful, there is a tendency for them to become more risk averse--a concept called "loss aversion" made famous by Israeli psychologists Daniel Kahneman and Amos Tversky, who studied behavioral economics. Kahneman and Tversky found that people don't always behave in the rational manner that the classical economic models predict...