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Selecting Great Talent Over Training
Selecting exceptional talent and providing them with the right direction is more effective than training average performers. Institutions like Harvard focus on selecting the smartest individuals and placing them with competent professors. The emphasis is on hiring the best talent rather than solely relying on training. Companies like McKinsey and Bain excel in service businesses by attracting and selecting top-tier talent. The philosophy of 'winning the championship in the draft' highlights the importance of selecting the right people over extensive training.