People are more important than the product

Reflections on several decades of managing news publications

A student in a media management course had to interview a media professional for his final research project. I agreed to be his subject, and in the course of an hour, he got me to talk about my philosophy of management in the digital era.

Reading over the transcript of that interview, I realized how my thinking had changed over the years. The main lesson I learned was to put people first. Growing up in the old newspaper model of the news factory, I developed skill in the processes of production, meeting deadlines, getting the product out the door. That was the priority: produce a sufficent quantity of content at a level of professional quality consistent with the limitations of time, money, and space (the news pages) available.

The paradox

Over time, I discovered an interesting paradox: Putting people first generates more profit. If you think first about developing your people and helping them achieve their personal and professional goals, the profit will follow. When you create an organization where people feel they are growing and learning and participating in a mission bigger than themselves, they become tremendously creative and productive.

When government fails, 'business has to step up'

Businesses like to devote part of their marketing and public relations budget to promote how they are  giving back to society. We are not just about profits, they try to say. And the message is arguably true, not just propaganda, as far as it goes.

Fink, from BlackRock.com

But we are starting to hear a different kind of message from business people, and it goes like this:

"Around the world, frustration with years of stagnant wages, the effect of technology on jobs, and uncertainty about the future have fueled popular anger, nationalism, and xenophobia. In response, some of the world’s leading democracies have descended into wrenching political dysfunction, which has exacerbated, rather than quelled, this public frustration. Trust in multilateralism and official institutions is crumbling." -- Larry Fink,
(emphasis mine)

Business people will have to fill the gap left by polarized and paralyzed national governments: this is the message of Larry Fink, CEO of BlackRock, the world's largest mutual fund company. Businesses have to show that they have a higher purpose than just making money. And, by the way, it's in your own interest to do so, he says. BlackRock has used its position as a major shareholder of some companies to push for more socially conscious policies.

(More coverage of Fink's letter was in Bloomberg, Forbes, and Reuters, among others.)

5 dirty words journalists have to learn to say without blushing

Versión en español aquí.

Journalism is the best job in the world, and working with journalists is fun. They’re funny, irreverent, intelligent and excellent storytellers.

Still, as a group we tend to be arrogant, self-righteous and holier-than-thou (I include myself in this criticism). We tend to view ourselves as high priests of an exclusive profession and bearers of a special ethical standard that few others can live up to. We see ourselves as purer, more objective, less affected by the prejudices of the mere mortals we cover.