Behavior
Should you keep your goals private?
My last article about goal setting can be found here. A researcher has an interesting proposition... KEEP YOUR GOALS SECRET.... What? this goes against everything we have heard in management theory for the last 20 years. Watch the above video and let me know what YOU think
US thanksgiving black friday sales record set
Although the final numbers arent in yet, many analysts are already predicting a record year for Black Friday sales. IBM is predicting a 24.3% increase sales over last year for black friday sales. ComScore says online sales grew 26% (compared to 2010) totalling $816 million. ShopperTrak said : “This is the largest year-over-year gain in ShopperTrak’s National Retail Sales Estimate for Black Friday since the 8.3 percent increase we saw between 2007 and 2006. Still, it’s just one day. It remains to be seen whether consumers will sustain this behavior through the holiday shopping season.
4 Tips to remember when Outsourcing to China and beyond
I have spoken and written about outsourcing to China for a couple of years now. Although China does require special handling, many of the high level recommendations are the same as regardless of where you decide to outsource. So here is a summary style high level overview of some of the important considerations: Ask Why: Ask yourself exactly why you are outsourcing. It is because you want to reduce your costs, access specialized skills or as a risk management exercise? Understanding exactly why you want to outsource should be your first question.
Management versus Leadership
As people read the new authorized Steve Jobs biography, they are realizing that although he was one of the greatest thinkers of our time, he seemed to lack “management skills”. This brought up an interesting management debate about which is more important for the success of a company: management or leadership. What is Management? Management is the art and science of controlling people, processes and technology to deliver maximum value through the prism of corporate values and beliefs. What is Leadership?
Research shows that Nice Guys DO Finish Last
If you have read any self-help books, you have undoubtedly read the adage “Nice guys finish last”. Now research from Notre Dame and Cornell Universities show how being too agreeable negatively impacts your earnings. More recent research from Stanford, Northwestern and Carnegie Mellon) continued on the same path showing that people who are overly caring, for overs, generally tend to make bad leaders. In particular, being overly nice generally means that you will likely fail in 2 important leadership domains: prestige and dominance.
The Getting Things Done Workflow (GTD)
Life has a way of always getting more complicated so I am constantly searching for the next tool, technique or methodology that will make my life easier. A couple of years ago, I stumbled on David Allen’s Getting Things Done book and I knew I knew this was something special. I had gone through many other time management techniques from ABC prioritization to the Eisenhower method. Nothing else seemed to be as simple or powerful. I have also referred to it in previous posts here and here.
DEALING WITH CHINA (PART 3)
The importance of “Saving Face” Having spent many years in Asia, I quickly learned the importance of maintaining “face” when dealing with Asian businessmen. This becomes important when engaging in negotiations (for example). You must always allow the other participant to have a little wiggle room [even after submitting their best offer]. Even tough the new offer may be only minimally better, it should allow the Chinese participant (whether customer, partner or other) to have the final say and maintain face.
DEALING WITH CHINA (PART 2)
... continuation Intellectual Property The previous paragraph highlighted the difference between laws “on the books” and the extent to which business people are willing to bend them for profit. As a foreign company entering into the Chinese market, you should be thinking about how you will protect your Intellectual Property. A common example of this is that of Will-Burt. Will-Burt is a company that manufactures and sells Night-Scan telescoping masts for police or military use. They entered the Chinese market and sales boomed.
Dealing with China (part 1)
If you have spend any time at a multinational company, the one topic that comes up is how to benefit from the rise of the dragon (aka China). Over the next couple of entries, I will provide some information about China that I hope you will find useful. The socialist impact Although it is easy to overlook China’s socialist political system, it is important to understand that it influences every aspect of their business style. As an example, they have very little creditor protection.
GHSA determines road risk of using a mobile phone while driving
An American association called the Governor’s Highway Safety Association recently released a report that use of a mobile phone correlates with increased risk of accidents in the United States of America (USA). To arrive at their conclusion, the association reviewed 350 scientific papers, published between 2000 and 2010, related to highway safety. Their review clearly showed that distracted driving accounts for 15-25% of all crashes (ranging from small fender benders to accidents with fatalities). Nothing here should be surprising as it based on common sense.
How to set personal goals
I will use this entry to talk about setting personal goals. Yes.. Yes… I know it is June and that most people set their personal goals in January but how are those coming along? Do a cleanup Before building a new house, the contractor will clear the ground to ensure he is starting with a solid footing. The same concept applies to your personal life. Before even thinking about your goals, make sure you “clean your house” (both physically and mentally) to ensure you start with as clean of a slate as possible.
"What is the next action" may be the most powerful question you can ask
In a previous article, I wrote about the wondrous power of implementing “Getting Things Done” as explained by David Allen. One of the most powerful tips it teaches is the power of asking “What is the next action” for each and every project on your to do list. It is a powerfully simple question that can be transformative if systematically implemented. For those that do not know GTD, here is some background information you need to understand the power. Anything that requires more than one action to complete is defined as a project in GTDland.
5S is an easy Japanese philosophy to improve your work environment
My current employer is committed to achieving excellence and empowers its employees with simple yet powerful work strategies. One of the tools we use is called the 5S. It comes from the management practice of the Japanese giant Toyota and each of the 5 guiding principles start with the letter S: Seiri – Means to sort. It mandates that you get rid of anything that is underused or not used. It allows your employees to work in a clean environment with less distraction.
Getting Things Done may be the most important business skill
From a very young age, I realized that if I really wanted to succeed, I had to be smarter, faster and better than everyone else in my field. I have spent thousands upon thousands of dollars on training products and seminars. When working with younger professionals, the question I get asked most often is this : “What do I consider the one most critical skill required for success in business”. This is a great question and the answer is simple, learning a technique that allows you to GET CONTROL of your to dos.
How to handle a "crappy job"
One of my first articles was entitled “the YOU brand” and is still one of my favorite articles. I strongly recommend you read it as it has helped many people change their approach to career management. I will assume you read it and accept the premise that you are selling your services to your company in exchange for salary, benefits and working conditions. What happens if you are in a “crappy job”? Crappy can mean different things to different people. For some it means no work-life balance.
So you hate change?
Change makes people uncomfortable. They feel anxious, overwhelmed and just plain scared. Change means you have to deal with the big unknown instead of the warm and comfy day-to-day routine you have gotten used to. “The only constant in business IS change”. Re-read that sentence and repeat it at least 10 times a day. The days where you joined a company out of school, worked for 40 years and retire are long gone. As the rules of business change, so do the qualities demanded by employers.
Negotiating with a "bad" counterpart
Most of our negotiations with vendors should be amicable and balanced. Once in a while though, you come across a vendor that simply does not want to partner and only sees you as an additional revenue stream. For these rare cases, you sometimes may need to resort to extra-ordinary measures to regain control of the situation. Take a Step Back In most situations, if a vendor “feels” that they have won the business even before the official terms are negotiated, they may decide to take a hardline stance.
Are coupons an efficient marketing tool
From newspapers and magazines to flyers and pamphlets, coupons are everywhere. They have become so popular that “coupon clipping” is now a hobby. Putting aside the thrill of saving money (sarcasm intended), is the cost worth it for the retailer or manufacturer? Risk Sharing Using your friends and neighbors as your own personal test subjects is always a lot of fun. Recently a new Greek restaurant opened in my area. The decor looked simple but elegant and their menu appealing. I have gone to too many “bad” restaurants and I simply wasn’t in the mood to risk going to another one.
Honest Tea: The Most Honest City In America
Honest Tea is a competitor to the Snapple brand in the United States of America. They conducted a brilliant marketing campaign and social experiement. It was so original I wanted to share it with you. They wanted to see which of the major US cities was the most honest. They installed un-manned racks of their product and asked people to voluntarily donate a dollar per drink. The experiment was filmed and the results were tabulated. Watch this fantastic experiment and campaign unfold.
When group decision making goes wrong
Every time I am asked about decision making, I remember a mantra one of my earlier bosses use to chant all the time A company is not a democracy . Many modern managers have taken the completely opposing position of managing by consensus. Personally, I believe that there must a be balance in all things and this is no different. For those times when a group decision is required, when is the group too big? Marcia W Blenko, Michael C Mankins and Paul Rogers wrote an interesting piece called Decide & Deliver: 5 steps to Breakthrough Performance in Your organization .