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Plain Talk: Lessons from a Business Maverick
A visionary, maverick, and genuine American business hero, Ken Iverson is one of the most closely-watched business leaders in the world. Credited with single-handedly rejuvenating the rapidly declining American steel industry to the status of world-class producer, Iverson is one of the most successful and, as he likes to point out, one of the lowest-paid CEOs in the U.S. In his long-awaited book, Ken Iverson shares his ideas, observations, and the lessons he's learned about what it takes to grow a super-competitive, world-class organization.
208 pages, Hardcover
First published October 1, 1997
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719 people want to read
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Displaying 1 - 30 of 34 reviews
January 12, 2013
Ken Iverson explains the philosophy that makes Nucor a growth company in a non-growth industry. Many things worth emulating.
May 13, 2022
Audio Review here
A Deeper Look on this topic here
Introduction:
Generally, leadership books are written in a lofty almost airy fashion, and usually, the protagonist in most leadership books spends a ton of time talking about their personal wins and achievements. In Plain Talk, the focus lies solely on the culture and ethos established at Nucor. Ken Iverson was a no-nonsense no fluff gentleman that established a simple yet very effective “Get S*** Done” culture. In Plain Talk, he spends 200 or so pages laying out his playbook for how he and his leadership team did this.
Why Should You Read This Book?
You should read this book if you are interested in better understanding how to build a more effective work culture in your current and/or future organization. Most of what Ken Iverson detailed in this book is common sense, but as the old adage says … “Common sense is no so common.” Ultimately his playbook is focused on using management to build a business that can survive and succeed over the long term.
You should also read this book if you are like me … an MBA-type. Iverson dedicated his final chapter to the MBAs in the world and he makes some very valid points on the shortcomings of management teaching in the classroom. It’s important to note that Iverson wasn’t anti-MBA. He just built a culture at Nucor that worked a bit better without MBA types.
Final Thoughts:
Plain talk has given me some really tangible things to focus on as my management experience matures. This book lays out some simple to follow “instructions” that any person managing should pay complete attention to:
1. Establish a higher cause within your organization that employees and managers can rally around.
2. Give your employees a consistent set of tools that will empower them to trust their instincts.
3. Destroy the hierarchy and focus on establishing an egalitarian business culture that can sustain employee motivation.
4. Dedicate your management career to creating an environment in which employees can stretch for higher levels of performance because they are the true engines of progress.
5. Give your employees a simple stake in the business. The more they produce, the more they should earn.
6. Small businesses allow for things to really get done. That’s the virtue of smallness.
7. Aversion to risk can be deadly in business. Managers who avoid risk and fear failure spend a lot of time cheating themselves, their people, and their companies from good risks and adventures.
8. Place ethics over politics… simple enough
9. What really matters in a business is bottom-line performance and long-term survival. Focus your efforts there.
If you have an interest in reading a no-nonsense down-to-earth approach to managing this book is for you.
Final Book Score:
Easy to Read: (5/5) Exceptional
Deep Content: (3.5/5) Above Average
Overall Rating: (4.5/5) Exceptioal
A Deeper Look on this topic here
Introduction:
Generally, leadership books are written in a lofty almost airy fashion, and usually, the protagonist in most leadership books spends a ton of time talking about their personal wins and achievements. In Plain Talk, the focus lies solely on the culture and ethos established at Nucor. Ken Iverson was a no-nonsense no fluff gentleman that established a simple yet very effective “Get S*** Done” culture. In Plain Talk, he spends 200 or so pages laying out his playbook for how he and his leadership team did this.
Why Should You Read This Book?
You should read this book if you are interested in better understanding how to build a more effective work culture in your current and/or future organization. Most of what Ken Iverson detailed in this book is common sense, but as the old adage says … “Common sense is no so common.” Ultimately his playbook is focused on using management to build a business that can survive and succeed over the long term.
You should also read this book if you are like me … an MBA-type. Iverson dedicated his final chapter to the MBAs in the world and he makes some very valid points on the shortcomings of management teaching in the classroom. It’s important to note that Iverson wasn’t anti-MBA. He just built a culture at Nucor that worked a bit better without MBA types.
Final Thoughts:
Plain talk has given me some really tangible things to focus on as my management experience matures. This book lays out some simple to follow “instructions” that any person managing should pay complete attention to:
1. Establish a higher cause within your organization that employees and managers can rally around.
2. Give your employees a consistent set of tools that will empower them to trust their instincts.
3. Destroy the hierarchy and focus on establishing an egalitarian business culture that can sustain employee motivation.
4. Dedicate your management career to creating an environment in which employees can stretch for higher levels of performance because they are the true engines of progress.
5. Give your employees a simple stake in the business. The more they produce, the more they should earn.
6. Small businesses allow for things to really get done. That’s the virtue of smallness.
7. Aversion to risk can be deadly in business. Managers who avoid risk and fear failure spend a lot of time cheating themselves, their people, and their companies from good risks and adventures.
8. Place ethics over politics… simple enough
9. What really matters in a business is bottom-line performance and long-term survival. Focus your efforts there.
If you have an interest in reading a no-nonsense down-to-earth approach to managing this book is for you.
Final Book Score:
Easy to Read: (5/5) Exceptional
Deep Content: (3.5/5) Above Average
Overall Rating: (4.5/5) Exceptioal
February 28, 2025
Ken Iverson died in 2002, Lil Tecca born 2002. Welcome back maverick
January 2, 2024
WIP NOTES - could be a good book for Brad to read
The book is written in a very refreshing and direct style reminiscent of books written in the early 1900's. Nucor’s journey is a testament to transformative leadership and a blueprint for future-focused, people-centric success. If corporate was like this for me I would have been way better off career, health-wise etc.
On approach:
- Ken Iverson's affinity was for a flat organisational structure in which employees could freely introduce and implement ideas and contribute to the company’s overall success.
- In the 1960s, when the top-down hierarchy was the status quo, Iverson’s insistence that no one should blindly follow orders was a radical breath of fresh air.
- His affinity for this approach was about more than just breaking down barriers; at its heart, it was about building trust and transparency.
- Under his wing, the company (Nucor) could maintain a culture in which employees were genuinely engaged, felt a sense of belonging, and were motivated to contribute to a cause greater than themselves. (setting the stage for a corporate culture with minimal hierarchy)
- Iverson also bucked the trend of the “span of control” theory – the old-school belief that there is a limit to the number of people a manager can handle under them. By trusting in their abilities, Iverson and his supervisors believed that employees could work effectively without needing close supervision or micro-management.
- It created a space where employees felt they had a direct line to those who called the shots. In the end, their ideas and contributions genuinely mattered.
On equilibrium:
- The tug-of-war between decentralisation and centralisation is a constant in the business world. Decentralisation, in which decision-making is distributed among various levels of the organisation, and centralisation, in which decisions are made primarily at the top, represent two ends of the operational spectrum.
- Iverson saw value in giving managers and employees significant autonomy
- Iverson was no purist. He understood that businesses like Wal-Mart thrived on a centralised approach to benefit from uniformity and consistency. In Iverson’s view, the choice to decentralise or centralise operations depended on a company’s top priority at a given time, which can change.
- Nucor debunked the myth that scale alone equates to superiority in three ways: its organisational structure, location and talent choices, and innovative streaks.
- Nucor’s commitment to smallness also empowered its approach to innovation. At the company, experimenting, risk-taking, and learning from failure were encouraged by default instead of on a case-by-case basis. This culture of innovation wasn’t top-down; it was grassroots, driven by employees who felt empowered and valued, much like in a smaller company in which every individual’s contribution can have a significant impact.
The book is written in a very refreshing and direct style reminiscent of books written in the early 1900's. Nucor’s journey is a testament to transformative leadership and a blueprint for future-focused, people-centric success. If corporate was like this for me I would have been way better off career, health-wise etc.
On approach:
- Ken Iverson's affinity was for a flat organisational structure in which employees could freely introduce and implement ideas and contribute to the company’s overall success.
- In the 1960s, when the top-down hierarchy was the status quo, Iverson’s insistence that no one should blindly follow orders was a radical breath of fresh air.
- His affinity for this approach was about more than just breaking down barriers; at its heart, it was about building trust and transparency.
- Under his wing, the company (Nucor) could maintain a culture in which employees were genuinely engaged, felt a sense of belonging, and were motivated to contribute to a cause greater than themselves. (setting the stage for a corporate culture with minimal hierarchy)
- Iverson also bucked the trend of the “span of control” theory – the old-school belief that there is a limit to the number of people a manager can handle under them. By trusting in their abilities, Iverson and his supervisors believed that employees could work effectively without needing close supervision or micro-management.
- It created a space where employees felt they had a direct line to those who called the shots. In the end, their ideas and contributions genuinely mattered.
On equilibrium:
- The tug-of-war between decentralisation and centralisation is a constant in the business world. Decentralisation, in which decision-making is distributed among various levels of the organisation, and centralisation, in which decisions are made primarily at the top, represent two ends of the operational spectrum.
- Iverson saw value in giving managers and employees significant autonomy
- Iverson was no purist. He understood that businesses like Wal-Mart thrived on a centralised approach to benefit from uniformity and consistency. In Iverson’s view, the choice to decentralise or centralise operations depended on a company’s top priority at a given time, which can change.
- Nucor debunked the myth that scale alone equates to superiority in three ways: its organisational structure, location and talent choices, and innovative streaks.
- Nucor’s commitment to smallness also empowered its approach to innovation. At the company, experimenting, risk-taking, and learning from failure were encouraged by default instead of on a case-by-case basis. This culture of innovation wasn’t top-down; it was grassroots, driven by employees who felt empowered and valued, much like in a smaller company in which every individual’s contribution can have a significant impact.
December 30, 2012
The book certainly does deliver on Plain Talk. The book is written in a very refreshing and direct style reminiscent of books written in the early 1900's.
Ken Iverson had already discovered most of the business secrets revealed in today's business best seller's
Nucor had a culture long before Zappos made it popular.
Bonuses are Bad? not true and Nucor proves it. A poorly done bonus is bad , and Iverson does a good job of explaining what a bad bonus is.
Employee empowerment look not further.
The list goes on.
Ken Iverson had already discovered most of the business secrets revealed in today's business best seller's
Nucor had a culture long before Zappos made it popular.
Bonuses are Bad? not true and Nucor proves it. A poorly done bonus is bad , and Iverson does a good job of explaining what a bad bonus is.
Employee empowerment look not further.
The list goes on.
January 2, 2024
"Plain Talk: Lessons from a Business Maverick" by F. Kenneth Iverson explores the unconventional and highly successful business strategies implemented by Ken Iverson during his leadership at Nucor Steel. The book emphasizes Iverson's commitment to a flat organizational structure, trust-based leadership, and a culture of transparency, which propelled Nucor to sustained profitability and growth in the competitive steel industry. Iverson's approach to success is rooted in fostering trust and transparency within the organization. He prioritized open communication, pain-sharing during challenging times, and minimizing workplace cynicism. This commitment to trust and transparency helped create a workplace where employees felt valued, engaged, and motivated to contribute to the company's success.
A significant aspect of Iverson's leadership was his rejection of traditional hierarchical structures. Nucor operated with just four layers of management, providing employees with a direct line to decision-makers. Iverson believed in reducing red tape to enhance clarity and efficiency, demonstrating that a streamlined hierarchy could significantly improve corporate culture. Iverson's approach also involved decentralization, where decision-making was distributed across various levels of the organization. While he favored decentralization, Iverson recognized the importance of balancing it with centralized oversight for major strategic decisions. His instinctual leadership in finding the right balance allowed Nucor to adapt to evolving business needs effectively.
The book highlights Iverson's belief in the power of "smallness" within a large corporation. This concept focused on agility, spirit, and openness often found in smaller companies. Nucor's organizational structure, talent choices, and commitment to innovation reflected this belief, allowing the company to maintain a dynamic and successful presence in the steel industry. Nucor's approach to risk and failure under Iverson's leadership was marked by a willingness to take calculated risks and view failure as an opportunity for learning and growth. Iverson encouraged innovation and saw failure as a natural part of the business journey, emphasizing collective learning and accountability.
In essence, "Plain Talk" presents Iverson's leadership principles as a transformative blueprint for success. His enduring lessons on trust-based leadership, streamlined hierarchy, embracing smallness, and learning from risk and failure are portrayed as highly relevant in today's rapidly evolving business landscape. The book encourages readers to consider Iverson's flat organizational approach as a potential model for operational optimization and future-focused, people-centric success.
A significant aspect of Iverson's leadership was his rejection of traditional hierarchical structures. Nucor operated with just four layers of management, providing employees with a direct line to decision-makers. Iverson believed in reducing red tape to enhance clarity and efficiency, demonstrating that a streamlined hierarchy could significantly improve corporate culture. Iverson's approach also involved decentralization, where decision-making was distributed across various levels of the organization. While he favored decentralization, Iverson recognized the importance of balancing it with centralized oversight for major strategic decisions. His instinctual leadership in finding the right balance allowed Nucor to adapt to evolving business needs effectively.
The book highlights Iverson's belief in the power of "smallness" within a large corporation. This concept focused on agility, spirit, and openness often found in smaller companies. Nucor's organizational structure, talent choices, and commitment to innovation reflected this belief, allowing the company to maintain a dynamic and successful presence in the steel industry. Nucor's approach to risk and failure under Iverson's leadership was marked by a willingness to take calculated risks and view failure as an opportunity for learning and growth. Iverson encouraged innovation and saw failure as a natural part of the business journey, emphasizing collective learning and accountability.
In essence, "Plain Talk" presents Iverson's leadership principles as a transformative blueprint for success. His enduring lessons on trust-based leadership, streamlined hierarchy, embracing smallness, and learning from risk and failure are portrayed as highly relevant in today's rapidly evolving business landscape. The book encourages readers to consider Iverson's flat organizational approach as a potential model for operational optimization and future-focused, people-centric success.
May 26, 2018
(1) It lives up to its billing, it's a really straightforward, really plain description of how "how to run a company well" according to Ken Iverson. The fact that it's written in plain English with no jargon makes it very easy to understand, but on the other hand, it can seem like it's belaboring the obvious at certain points.
(2) I've read a lot of "management" books and I've forgotten most of them, but the ideas in here are pretty similar to those I've seen in other books. The difference is that Iverson has more credibility and does a good job of explaining them in a common sense way.
Some of the key ideas.
-Manage your group with a long-term focus, don't be obsessed with getting short-term wins. So be willing to suffer less productivity in the short term if you think it can help the team in the long run.
-Developing a "shared purpose" for your team, making everyone feel part of the same team is hugely important. Team members should feel safe to voice their opinions and that the group will take care of them if they fall on hard times.
-Give people a lot of authority and autonomy to make decisions in their area of expertise and don't interfere with how they do their job.
Iversen makes a key point that some things that worked very well for Nucor, but might not work for everyone. For example, Nucor tied its factory workers pay directly to how much steel their team produced but that might not translate easily into other industries where production is not as easily measurable.
I think it comes down to maximizing "intrinsic" motivation, where people are working for the "fun of it" as opposed to "in order to pay the bills". If they enjoy the work, feel understood, supported and fairly compensated and like the people they work with, they are more likely to feel like putting in a solid effort.
But if the focus is on "extrinsic" motivation (do your job or we'll fire you) this leads to people punching the clock and focusing more energy on playing politics and trying to look good.
(2) I've read a lot of "management" books and I've forgotten most of them, but the ideas in here are pretty similar to those I've seen in other books. The difference is that Iverson has more credibility and does a good job of explaining them in a common sense way.
Some of the key ideas.
-Manage your group with a long-term focus, don't be obsessed with getting short-term wins. So be willing to suffer less productivity in the short term if you think it can help the team in the long run.
-Developing a "shared purpose" for your team, making everyone feel part of the same team is hugely important. Team members should feel safe to voice their opinions and that the group will take care of them if they fall on hard times.
-Give people a lot of authority and autonomy to make decisions in their area of expertise and don't interfere with how they do their job.
Iversen makes a key point that some things that worked very well for Nucor, but might not work for everyone. For example, Nucor tied its factory workers pay directly to how much steel their team produced but that might not translate easily into other industries where production is not as easily measurable.
I think it comes down to maximizing "intrinsic" motivation, where people are working for the "fun of it" as opposed to "in order to pay the bills". If they enjoy the work, feel understood, supported and fairly compensated and like the people they work with, they are more likely to feel like putting in a solid effort.
But if the focus is on "extrinsic" motivation (do your job or we'll fire you) this leads to people punching the clock and focusing more energy on playing politics and trying to look good.
January 8, 2022
Even though this book is almost 25 years old, some of its ideas remain very up-to-date. The author transformed a bankrupt company into one of the largest steel makers in the US. The writing is very straight to the point, short and easy to read, I enjoyed reading it.
The author goes in depth on how the company was structured with only 4 levels of management, allowing for decentralization and autonomy. The author very much values the working people, and defines the job of managers as creating a work environment conductive to success. The company relied heavily on production bonus, with the goal of having working people owning their production. Ken also focuses on how the employees were given challenges instead of orders (e.g. "these parts were rejected for lack of quality and won't count towards your quota, go figure out how to fix it"). The author presents several examples of how this strategy fostered innovation and ownership.
Even though the author also does mention long term thinking and innovation (big bets), I couldn't fully understand how that combined with management by objectives. In particular, I'd like to see a bit more discussion on how the company ensured safety. There's one story in particular that I'd like to know more about: they built a factory machine on a scrappy budget, it destroyed itself while in use, damaged part of the factory and endangered workers. The author sees this as a good thing (entrepreneurial spirit!), but one can only have a few of these stories before having to write them from jail.
The author goes in depth on how the company was structured with only 4 levels of management, allowing for decentralization and autonomy. The author very much values the working people, and defines the job of managers as creating a work environment conductive to success. The company relied heavily on production bonus, with the goal of having working people owning their production. Ken also focuses on how the employees were given challenges instead of orders (e.g. "these parts were rejected for lack of quality and won't count towards your quota, go figure out how to fix it"). The author presents several examples of how this strategy fostered innovation and ownership.
Even though the author also does mention long term thinking and innovation (big bets), I couldn't fully understand how that combined with management by objectives. In particular, I'd like to see a bit more discussion on how the company ensured safety. There's one story in particular that I'd like to know more about: they built a factory machine on a scrappy budget, it destroyed itself while in use, damaged part of the factory and endangered workers. The author sees this as a good thing (entrepreneurial spirit!), but one can only have a few of these stories before having to write them from jail.
November 27, 2018
3.5 stars. Perhaps the rating would be higher if most of the material covered has not already been lip-serviced to death by corporate managers. I'm sure Mr Iverson is sincere, and probably a much better executor of these principles than his peers. The point is that you won't find any particularly insightful or thought-provoking material here unless you've been relatively insulated from corporate and HR-speak.
A sampling:
"We have little tolerance for politics, the pettiness, the fixation on rank and status, or the insensitivity to employees’ needs that people in most big companies endure as a matter of course."
“Today’s leader must maintain sensitivity to the views of everyone who has a stake in the company and realize that each one can make a special contribution to meeting the company’s goals.”
“Equality, freedom and mutual respect promote motivation, initiative and continuous improvement.”
“Employees want first and foremost to be appreciated for who they are. They want to be acknowledged as unique individuals – each with immense and unrealized potential. All too often, though, their managers cast them as drones.”
A sampling:
"We have little tolerance for politics, the pettiness, the fixation on rank and status, or the insensitivity to employees’ needs that people in most big companies endure as a matter of course."
“Today’s leader must maintain sensitivity to the views of everyone who has a stake in the company and realize that each one can make a special contribution to meeting the company’s goals.”
“Equality, freedom and mutual respect promote motivation, initiative and continuous improvement.”
“Employees want first and foremost to be appreciated for who they are. They want to be acknowledged as unique individuals – each with immense and unrealized potential. All too often, though, their managers cast them as drones.”
January 2, 2024
Summary:
Nucor’s journey is a testament to transformative leadership and a blueprint for future-focused, people-centric success. His enduring lessons – on trust-based and transparent leadership, streamlined hierarchy, the virtues of smallness, and growing with risk and failure – are more relevant than ever in today’s fast-evolving business landscape. When in doubt and needing inspiration for operational optimization, just take a leaf from Iverson’s book and go as flat as possible.
Nucor’s journey is a testament to transformative leadership and a blueprint for future-focused, people-centric success. His enduring lessons – on trust-based and transparent leadership, streamlined hierarchy, the virtues of smallness, and growing with risk and failure – are more relevant than ever in today’s fast-evolving business landscape. When in doubt and needing inspiration for operational optimization, just take a leaf from Iverson’s book and go as flat as possible.
March 8, 2024
Очень и очень хорошая книга о менеджменте и о людях, написанная бывшим руководителем металлургической компании.
Чудесно изложено.
Много полезных идей.
Жаль, что во многих компаниях эти идеи скорее убьют вашу карьеру, чем помогут ей.
Но если вы все же найдёте свой Nucor или преисполнитесь силы менять мир к лучшему несмотря ни на что, эта небольшая книжечка вполне может стать вашей настольной инструкцией к ежедневному применению.
Чудесно изложено.
Много полезных идей.
Жаль, что во многих компаниях эти идеи скорее убьют вашу карьеру, чем помогут ей.
Но если вы все же найдёте свой Nucor или преисполнитесь силы менять мир к лучшему несмотря ни на что, эта небольшая книжечка вполне может стать вашей настольной инструкцией к ежедневному применению.
January 28, 2019
A whole new management approach by a legendary CEO. Iverson has successfully turned a dying company to a Fortune 500 Company.
But for the entire story, actually, you can just google it. It's discussed everywhere. But Jim Collins' Good to Great could explain it better and more precisely than Iverson himself.
But for the entire story, actually, you can just google it. It's discussed everywhere. But Jim Collins' Good to Great could explain it better and more precisely than Iverson himself.
July 25, 2018
Fascinating read on how culture + technology is the driver for Nucor performance over the years in not only seeing the peak steel markets in USA but to survive and thrive in face of low cost imports. Philosophy practised by Ken can be replicated in any industry from steel to software.
November 18, 2018
Read again after 20 years--still gets high marks for Iverson's version of decentralized, people-centered management.
July 19, 2019
Straightforward account of Nucor that the core elements of their success.
August 9, 2019
One of the best business biographies around
September 8, 2019
Interesting history lesson of Nucor's culture from a dozen years ago.
September 9, 2019
Must read for any manager or aspiring manager. So simple, yet so hard. Quick read, and very interesting.
October 8, 2019
Good short book by someone who was great at empowering employees and was a great leader.
Want to read
November 9, 2021Recommended by Mohnish Pabrai
https://youtu.be/-etUrauRHgE
https://youtu.be/-etUrauRHgE
April 2, 2022
Best business biography I've read!
July 29, 2022
Some good nuggets of information and insight, but too repetitive making it feel like a longer read than it is.
December 4, 2023
You read it, think he's biased because he's the CEO, but turns out he is just right.
February 18, 2024
It started a bit slow, then become tremendously actual.
April 20, 2024
A clear vision on how to manage a large company by keeping it simple and efficient. Excellent and must read.
December 15, 2024
I interned at the company he was CEO of and they made me read this book😭
Honestly not terrible but he definitely sounded a little narcissistic at some points
Honestly not terrible but he definitely sounded a little narcissistic at some points
January 5, 2024
I wish more companies embraced this type of leadership structure!
January 17, 2017
Concise and clear principles of what make a business a long-term success. Good for learning that basic principles are more common than thought across all great businesses - e.g. one chapter can be replicated with Bezos/Amazon and the willingness to place bets on risky experiments.
February 22, 2011
Interesting book, could have used a little bit better editing.
August 30, 2012
This is my favorite book
Displaying 1 - 30 of 34 reviews