What Can We Learn from March Madness?
It's amazing that millions of dollars will be lost in business productivity during the College Basketball Tournament, otherwise known as March Madness. College Recruiter reports that one consultant estimates employers will end up paying distracted workers about $175 million over the first two full days of the tournament.
My good friend Ken Keller makes some astute observations on how things that happen in the tournament relate to business. I would like to share some of his thoughts with you.
The month of March means a lot of different things to people, but for some it is one of the best months of the year. Why? March Madness. Starting in March and ending on April, 65 of the best college basketball teams in the country will face each other to determine the winner.
Going to the "Big Dance" (the NCAA Men's Basketball Championship) is an honor that any team would like to have bestowed upon them. College basketball is fast-paced, exciting and filled with last second victories and crushing defeats.
In a previous tournament, UCLA had been in the top tier of basketball teams the entire season, the same could not be said for Weber State. The story of the Weber team is nothing short of a fairytale; more like the movie Hoosiers than one would like to believe. This was one of the opening round matchups.
Why, might you ask, is this turning into a sports story? Isn't this supposed to be about business? In many respects it is a story about business; it is a story of an organization that has transformed itself in less than a year. It is a story about new leadership turning around a tough situation, about new people being brought to a team, that team learning to trust and support one another, and goals being set and achieved. If this story sounds familiar, it is, because it is one that is taking place at many companies in the news today. Only the industry is different.