Vampire Meetings and How To Slay Them
September 6, 2008
Meetings can be like mythical vampires ? sucking the life out of intelligent and creative people. And sucking the funds out of businesses. Unfortunately, there are too many of these meetings in business today.
A UCLA study said the "typical" meeting includes nine people. If you have nine people in a meeting room for one hour, you have consumed one entire workday ? plus some.
What about the dollars associated with this? Say the average salary of meeting attendees is $40,000. Their hourly pay is about $20.00. Nine people for one hour costs $180.00. Not bad, right?
But consider the implications. People don’t spend just one hour a year in meetings. In a 3-M online survey in 1998, people reported spending between one and 1.5 days per week in meetings. They also said 25% to 50% of those meetings was wasted. Being conservative, let’s think 25% of one day’s worth of meetings?that’s two hours. Per week. Times nine people. 18 hours a week. Times $20.00 an hour. 18 times 20 times 48 weeks = $17,280.00.
Work Priorities: Where Can You Spend Your Time Most Effectively?
August 31, 2008
Understanding where you can spend time most effectively requires concentration in three areas:
1. Doing what you enjoy 2. Concentrating on your strengths 3. Understanding Job Excellence
Let’s start with doing what you enjoy. Your quality of life is in many ways dependant on how much (or little) you enjoy your job. While every job has aspects that you may not enjoy as much as others, overall your job satisfaction should be high. The higher your job enjoyment, the more effectively you will be in getting things done.
If you are working in a job that you don’t enjoy, you have two choices. The first is to minimize those things you don’t care for. This does not mean you no longer do them, but you look for the positive things about those individual components you don’t like. Over time you should be able to reduce the number of negatives and increase the positive aspects. This will automatically increase job enjoyment.
If you are certain you will never be able to enjoy your job, it’s time to consider option 2, changing jobs. This is a drastic measure and should not be done without careful thought. However studies continually show that people who do make a decision to change from jobs they don’t enjoy to jobs they like almost immediately experience a better life with less stress.
Cross Cultural Solutions for International Business
August 23, 2008
Globalisation, the expansion of intercontinental trade, technological advances and the increase in the number of companies dealing on the international stage have brought about a dramatic change in the frequency, context and means by which people from different cultural backgrounds interact.
Cross cultural solutions to international business demands are increasingly being viewed as a valid and necessary method in enhancing communication and interaction in and between companies, between companies and customers and between colleagues.
Cross cultural consultancies are involved in aiding companies to find solutions to the challenges cross cultural differences carry.
International and national businesses are ultimately the result of people. As with incompatible software, if people are running on different cultural coding, problems can occur. Cross cultural consultancies therefore concentrate their efforts on interpersonal communication.
Different cultures and cultural backgrounds between a highly diverse staff base brings with it obstacles, challenges and difficulties. Cross cultural differences manifest in general areas such as in behaviour, etiquette, norms, values, expressions, group mechanics and non-verbal communication. These cross cultural differences then follow on through to high level areas such as management styles, corporate culture, marketing, HR and PR.
Results of Poor Cross Cultural Awareness
August 17, 2008
Results of Poor Cross Cultural Awareness. Having a poor understanding of the influence of cross cultural differences in areas such as management, PR, advertising and negotiations can eventually lead to blunders that can have damaging consequences.
It is crucial for today’s business personnel to understand the impact of cross cultural differences on business, trade and internal company organisation. The success or failure of a company, venture, merger or acquisition is essentially in the hands of people. If these people are not cross culturally aware then misunderstandings, offence and a break down in communication can occur.
The need for greater cross cultural awareness is heightened in our global economies. Cross cultural differences in matters such as language, etiquette, non-verbal communication, norms and values can, do and will lead to cross cultural blunders.
To illustrate this we have provided a few examples of cross cultural blunders that could have been avoided with appropriate cross cultural awareness training:
An American oil rig supervisor in Indonesia shouted at an employee to take a boat to shore. Since it is no-one berates an Indonesian in public, a mob of outraged workers chased the supervisor with axes.
Writing and Revising Your Life Story
August 8, 2008
Change is not simple. Why do we repeat behavior that doesn’t work? Those actions that lead to stifling debt, disappointing careers, or stuck relationships? Then do it harder, yet expect a different result? Why is it not obvious that trying to exit an old story by simply writing a "better ending" only recreates the same story, and ensures that we remain in it? That a thousand better endings to an old story don’t create a new story? That the past cannot be changed and is a settled matter? That too often, we see ourselves as the victims of the stories that we author and the feelings we create?
We actively construct what we think, feel, and experience.
How surprised we are to learn that our fears are not in the dim shadows of the past’s unknown, but in the hopeful light of this moment’s change.
The only thing more difficult than changing and growing is not doing it. It is never too late to become what you might have been. Or too soon to become who you want to be.
Organizational Techniques - Tickler and Chron File
August 2, 2008
One of the biggest problems we encounter in our consulting with businesses, and our students is time management and organizational techniques. This article will concentrate on some good organizational strategies. Two of the best organizational techniques I have found over the years are the Tickler File and the Chron File. This article will concentrate on how to use them everyday in your business.
Preparing a Budget
July 25, 2008
Ok, you say, I know I need a budget, but how do I prepare one? The most common budget period is one year, but this can vary depending on whether or not your business has seasonal or cyclical fluctuations. For example if you run a Christmas decorations shop, or a costume shop your business is going to peak during certain times of the year.
The budgeting process usually begins with the collection of accounting data. In order to prepare a strong and achievable budget, you must analyze each item of income and expense from the prior year. If your accounting system is a mess and the figures are inaccurate, the numbers used in your budget will be useless. This is why it is so important to keep good records. Quicken and Quickbooks are excellent programs to help you with setting up an accounting system that is easy to use and understand.
If you can review your prior year’s figures with confidence, try to cultivate your strong areas and look for ways to increase performance or volume. For example, if one particular product sold well, take a closer look at that product. What you did to market it, etc. and try to model your other products in the same vein to accomplish the same results.
Organizing The Information
July 20, 2008
Putting a piece of paper in a file folder is easy; finding it again is the hard part. There are ways to make your files easier to use and your papers easier to find. Invest in a sturdy, four or five-drawer file cabinet. Spend the extra money it takes to get quality and durability. You’ll spend more money replacing a cheaper file cabinet a few times than buying a reliable one in the beginning. You may not have enough files to fill the cabinet now, but believe me, you’ll need it in the future.
Before you buy additional cabinets, weed out unnecessary files. The natural tendency is to buy more cabinets to hold the papers you’ve accumulated. The more filing space you have, however, the more tendency you have to keep unnecessary papers.
Keep the number of hanging file folders you use to a minimum. Rather than putting only one interior folder in each hanging folder, group three to five interior folders in each one and label the hanging folder with the main category.
Minimize your paper files by using a scanner to store them electronically. There are hand-held, sheet-fed, flatbed and optical pen scanners available. You can even use a scanner to enter business cards into a contact management software program.
Goodwill is an Intangible Asset
July 13, 2008
‘Goodwill’ is regarded as an intangible asset in a business. Goodwill carries a value over and above the tangible assets of a business, and representing all benefits derived from the distinctive location, trade and brand names, credit rating, reputation, cusotmers and patronage of the business. When a business is sold, a charge is usually applied for the goodwill as one of the assets.
Goodwill develops by virtue of quality of products or service found beneficial by the customers, clients, users, vendors etc. and the manner and style in which the products or services are presented. Good advertising helps in accelerating pace of development of goodwill and prestige. Usually advertising and other image building techniques take goodwill and sales to new heights of fame, renown and prestige. Sponsoring sports and social events, donations to charity etc help in enhancing prestige and fame.
A brand name can help add to the goodwill of the business besides acquiring its own goodwill value. Truly great brands are far more than just labels for products or trademarks; they are symbols that encapsulate the desires and liking of consumers as well their trust and confidence. In most cases products acquire fame under their brand name rather the name of their manufacturer as we see in case of cold drinks and soaps etc.
3 Steps You Can Use Developing Leaders In Your Industry
July 5, 2008
With the economy bordering on a recession, every company is looking for ways to increase revenues while decreasing costs. Some companies believe one of the easiest ways to do this is to cut their employee training budget. However, businesses interested in long-term viability recognize that to be successful they must continually develop their people, especially their leaders.
According to recent research by the American Society of Training and Development companies with regular employee training consistently outperform companies who do not train their people. In a recent survey we conducted of HR Directors at small, Chicago-based, start-up companies leadership development was reported as their number one professional challenge.
There are many books, seminars and prepackaged programs that claim to help you do this more effectively and efficiently. Most have varying success because they are not customized to meet your company’s specific needs. Canned approaches have little lasting effect.
Leadership development is not about reading a book or attending a seminar. Sustained leadership development is a process. It must be tailored to meet your company’s specific needs and goals to be successful. Our research indicates there are some common criteria among successful leadership development programs. The best ones promote leadership in three phases:
