In the business world, the role of leader of a fair and wise is very important. Ideally, a wise leader who can maintain a balance between fulfilling the rights of employees, also can meet the demands of the company. However, in reality in many companies are still much less fully leaders serve as a good leader. Like what are the types of unique leadership in the company? How to deal with it?
The Trouble Maker
This type tend to be rough and a little drunk power. This bully, his heart to embarrass the team in front of others, such as clients or colleagues, just to show that he's higher position. Sometimes to show his prowess, he was pleased threatened to dismiss the men even though his errors small. Faced with this boss can be a difficult challenge. Tricks you can do is to try to "fly low", not too low profile, but try to get attention from employers that are higher than the intruder was. Find a mentor or a boss that is higher than the bully to maintain both a shield from the bully.
The Micro-Manager
This type of love analyzing every inch of the actions of the men, even the slightest. Actually the action of the employer may be encouraged to work harder, disciplined, and diligent. However, if you're the type of people who appreciate the freedom, will be difficult to accept. If you want to face this kind of boss, it is important to you is not seen to take the power of the employer. Usually the type of leadership is mikro-manager insecure type of person, it is very important to continue to give him information about your activities. By doing this, you give the illusion of a sort of control to the top without making you feel unable to move (you still have the freedom to autonomous).
The Politics of Office
This type of boss could be like your friends close, but it also can suddenly take such opposite positions, or even attacked. Things like do not keep their promises, false information, the takeover of ideas, are the usual things that happen when dealing with this kind of boss. The best way to deal with this boss is to communicate through writing. In this way, all words, questions, statements, requests, proposals, and everything is neatly recorded and there is proof. If your boss is trying to solve a verbal agreement, continue the confirmation by e-mail, make sure you send an e-mail copy to the other party in company.
The Senior
This type is usually more due to be promoted senior enough, not because of capability. This type of boss are usually less readily, always doing everything according to the old procedures, and less open to all efforts to innovate. Afraid to make decisions, because usually this type of boss has a problem to keep the moral subordinates, so they have a problem with flexibility. Usually, the type of boss who is less afraid of such initiatives will change, so do not be too underpreasure proposed ideas that are too fundamental. It would be better if you want to ask a fundamental change, make a big meeting if you need to get supporters.
Type Drama Queen
This type does not always refer to women, men too can be like this. In that sense, the type of person who likes to complain, making small problems become big, and make everything too much. Too self-seeking, and could see things from a larger glasses. They tend to reject the solution of the most visible, just to make the situation more complicated and longer. In fact, it rarely makes the company issues a private matter. Drama queen was never satisfied. Do not allow yourself to be manipulated and thinking about the boss of this type for too long, you could be sucked into the negative side. Very important to keep a positive mind and refer to the solution. As much as possible, away from the boss is like this, because you get too focused on the interest alone. But do not forget to keep a good relationship with him.
The Quiet
Typically, this type can make you confused with your position. They rarely give feedback and tends to establish an executive decision without informing the staff. As a result, the left hand never knew what was doing the right hand. Often occurs miscommunication and inequality. Faced with this kind of leadership type can be very frustrating, but it is important to keep your sanity. Usually this kind of boss do not realize their mistake, so do not be afraid to share your knowledge and to voice your opinion. It may be that you will enter into the circle of supervisors and make changes in the work environment.
It's difficult when we are in a working environment which is led by incompetent superiors. However, if you feel you can and have ideas for change, keep trying. Good luck!
Sabtu, 03 Oktober 2009
How to deal the unique type of boss
Kamis, 24 September 2009
Measuring Risk with Monte Carlo Simulation
Monte Carlo simulations up to now regarded as the best simulation predicts the risk for its accuracy. How the origins of this simulation, the mechanism and its use in the financial world?
Origin Discovery
Credit invention Monte Carlo method is often given to Stanislaw Ulam, a Polish mathematician. Ulam is known as the man who designed the hydrogen bomb with Edward Teller in 1951. Meanwhile, he himself found the Monte Carlo method in 1946 while taking into account the probability of winning solitaire card game.
On the other hand, in the world of finance and financial mathematics, Monte Carlo method is very useful to do a valuation and analysis of the various instruments and portfolio investment. This method allows simulation of various factors that affect the value of uncertainty, so that then can determine the average value
Monte Carlo method was first introduced into the financial world by David B. Hertz in 1964, in the article "Risk Analysis in Capital Investment" in the Harvard Business Review. Furthermore, in the year 1977, Phelim Boyle is the first time using this simulation in the paper about Options.
Mechanism Simulation
Monte Carlo Mechanism Simulations are often used to predict a specific value, based on historical data collection. This method is one of many methods of trying to analyze uncertainty, where the objective is to determine how random variation, lack of knowledge, and errors, may affect the sensitivity, performance, or reliability of the modeled system.
This simulation is classified as a sampling method, because the input generated at random from the probability distribution, to simulate the sampling process of the actual population. Thus, here we are trying to choose the input distribution that best matches the data held. The data generated from this simulation and then presented as probability distributions (histograms) or converted to error bars, reliability prediction, tolerance zones, until the confidence interval.
The use of World Finance
Monte Carlo simulation is widely use in the financial world, especially in investment and investment instruments are complex and involve many factors. Here are some investments that uses Monte Carlo simulations:
• Evaluation Project, can be used to estimate the cost of the project and the Net Present Value of the project. In NPV account, for example, cash flow is a very big role, and have a high uncertainty, so that the simulation is very useful.
• stock option valuation, where the simulation generates thousands of possible price of the underlying stock, each of which is accompanied by exercises option value. Payoff is then direrata and discounted to the present, the current option value.
• Valuation of bonds, where the uncertainty is simulated interest rates. At every possible interest rate movements, then there are the estimated yield curve and bond prices are different. Valuation done by the average of these prices, then the present value.
• Quantifying the risk, such as Value At Risk, where the data is the portfolio data and historical market data, for measuring the risk of a portfolio.
Rabu, 16 September 2009
Why Starting business in Singapore?
Here is Top 3 reason why Singapore is a great place to set up your business.
1. A Favourable Business Climate
According to the Ministry of Trade & Industry (MTI), there is an estimated 6,000 Multi National Corporations (MNCs) in Singapore. Many of these MNCs have chosen Singapore as the prime location of their Asia Pacific headquarters due to its positive business climate. For example, the World Bank's Doing Business 2009 Report ranked Singapore as the world's easiest place to do business, ahead of New Zealand, United States and Singapore's closest competitor, Hong Kong. The EIU Country Forecast published in February 2008 also rated Singapore as having the best business environment in Asia Pacific and third in the world. These rankings by independent bodies are reflective of the Singapore Government's efforts in providing efficient public sector services that support the private sector growth.
2. Highly Educated Workforce
Singapore boasts one of the most educated workforces in the world. Literacy rate stands at a formidable 96%. 89.6% of resident non students aged 25-39 have secondary or higher qualifications. A further significant testament to the huge importance placed on education, the Singapore Government invested S$7,298.1 million in education in 2008. This comes up to 25.5% of total government operating expenditure, making education the second highest expenditure after security and defence. In addition, Singapore's two long established universities, the National University of Singapore (NUS) and Nanyang Technological University (NTU) also rank favourably on various university ranking surveys.
3. World Class Transportation System
Singapore's Changi International Airport has three heavily used terminals serving over 80 international airlines flying to more than 190 cities in 160 countries. Changi International Airport also handles more than 4,500 arrivals and departures weekly, 37.7 million passengers and 1.85million tonnes of air freight in 2008.
With the high cost of owning private transportation, public transportation is efficient, frequent and spans every far reaching corner of the island. Singaporeans flock to the 70 railway stations of the Singapore's Mass Rapid Transit (MRT) system which has a daily ridership of 1.564 million. The two public bus companies with a fleet of 3,600 single and double decker air-conditioned buses transport nearly 3.12 million daily passenger trips safely to 295 routes islandwide.
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Minggu, 09 Agustus 2009
Google VS Apple
Most of giant companies that compete each other in the technology sector has been the face and the trends shaping the market technology sector, which in turn determine what products will be widely used by both consumers and companies.
History records some of which have participated in shaping the condition of the technology at this time. In the 1980s, the competition between Microsoft and Apple. In an1990-era property giant Bill Gates back to compete with IBM, and in an 2000-era Microsoft dealing with Google. Towards a new decade in 2010-an, virulent form of competition between two giants, Google and Apple. Timpano blown war after the CEO of Google, Eric Schmidt lift the foot from the board of directors of Apple. War was officially opened on 3 August 2009.
Revenue growth, increase in stock prices is something that continues to be by Apple and Google. in the last decade, the company has achieved many successes and the most influence on the economy. Apple and Google are two companies that will be very innovative, but with a very innovative approach to back-off, as it is said Henry Chesbrough, the director of the Center for Innovation pen at the University of California.
Google is the web standard for the open secure. Programmers are allowed to run almost all software tools in almost hardware. In Google's perspective, means that more is better - as long as the program of course, hardware, and web site has a place for advertising on-line Google.
While the point of view of 180 degrees different from Apple with Google. This company is very careful so the ecosystem of software development such as company want. Apple is also very concerned about the control set and super-tight against the software that allowed for the products they use, such as the iPhone.
Apple and Google also have a different approach to the hardware of computer. Google search for as many companies producing hardware tools to create mobile phones and other devices that can be used for the Android OS made them, and perhaps will also do the same OS so Chrome has been officially released.
During this time the difference between the two companies is a little barriering with Eric Schmidt in the Apple board of directors, since 2006. In response to Schmidt decision to withdraw from the board of directors of Apple, Steve Jobs said that Schmidt is a priceless asset that is not for the company. Unfortunately along with the Google into Apple's core business, with Androdi and Chrome, the effectiveness of Schmidt as a board of directors of Apple to be decreased because the remote had not attended in several important meetings in order to avoid the conflict of interest.
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Selasa, 02 Juni 2009
CUSTOMER AND KING.
My answer to the question 'is the customer always right?' is Yes - in their opinion.
You can argue with them until you're blue in the face, but once a customer has decided they're right and you're wrong, almost nothing you can do, now or in the future, will change their mind. In fact, once they've decided to defend their position,if they feel they are being challenged or attacked, they'll often look for even more evidence to support their case in an effort to 'prove you wrong' and vindicate themselves. As many as 9 out of 10 of us will go out of our way to tell others about our experience if we feel aggrieved, sometimes exaggerating the truth somewhat in the process. And word of mouth has been joined by word of mouse as we let our fingers do the talking on blogs, social networking sites and email.
So what can you do to placate someone who is adamant that you've failed them in some way and reduce the risk of them heading into a tail-spin and telling anyone who'll listen how aggrieved they feel?
Don't take it personally. No matter how angry or aggressive they may be, stay calm, keep your cool and avoid taking it personally. Try and remain as objective as possible.
Avoid arguing with them Let them air their grievances in full without justifying or defending your position.
Simply listen. Allowing them to say their piece without interrupting will make them feel they've been heard and treated with some level of respect.
Identify key points that need to be addressed Calmly reflect back any critical issue(s) that may need to be addressed to enable you to move forward and offer one or more solutions.
Explain the likely follow-up process Let them know what to expect from here on in. Provide factual information regarding what you'll do now, how long the process might take, who may get back to them and by when. Avoid making any claims you may not be able to deliver on.
Stick to your commitments If you say you'll get back to them within 30 minutes, make sure you do so - even if you're unable to offer any solution just yet.
Offer solutions likely to be agreeable to them Anticipate possible solutions and offer them as appropriate. Few complainants expect the earth - most simply want to be heard, treated with respect and recompensed in an appropriate way.
Thank them for their feedback Tough as it may seem, thanking them for their feedback allows them to feel they were right in some way and they may have helped improve things for others. They may never use you again, but you'll have minimised the risk of them bad-mouthing you to others.
Nobody's perfect. Mistakes and complaints happen. How you handle them determines whether you'll maintain a positive reputation and have people speaking well of you to others.
SOURCE
www.hannahsamuel.com.
Jumat, 08 Mei 2009
How to Building Customer Loyalty through Brand Equity
What emotion do your customers experience when they interact with your company? What impression do you or your employees, internal systems and products make on your customers and business partners? What is the essence of your company that will stand the test of time?
In my BLASTTM Marketing System, I spend a lot of time teaching entrepreneurs the importance of creating both a business and a personal brand to support their business. A brand is created using a variety of different marketing messages, images and touch points and goes far beyond your logo, websites and brochures. It is about emotion and thought. When customers hear your business name what comes to mind? What is the lasting impression? For example, when you think of FedEx, what comes to mind? How about "When you absolutely have to get it there overnight" and did the big plane they use on their commercials pop in your head? Or when you are talking with a client and you need to overnight something do you find yourself just automatically saying, "I'll FedEx that to you" as though FedEx is a verb?
How about Walt Disney? What comes to mind? What is the lasting impression? How about "Happiest place on earth" or the word Magic? Disney went out of his way to leave a lasting impression and to create a world of fantasy, happiness and imagination and everything about Disney, supported that impression. If I start singing "I am stuck on Band Aid Brand because……. Can you finish the phrase? Are you singing "Because Band Aid's stuck on me" Chances are you even are remembering a story perhaps in your childhood when you used Band Aid' product.
When companies have successfully connected with their customers and live and breathe every moment in support of that connection, is when they create a brand - an emotional element connected to your company, its people, its process and all of its points in between that support that emotional connection. So what are the points in between? Simply, anyway your company touches a client or potential client. It could be your people and their behaviors, your internal systems - technology, invoices, phone, website, etc. and your external systems - your product, how the product is delivered, your marketing and your customer service. When this connection happens, your customers become loyal to your brand.
To build equity in customer relationships develop a concrete brand strategy using one word - three simple letters: BID- Brand Promise, Identity and Deliver your Promise.
B - Brand Promise
Your brand promise should be compelling and unique. It must make a public statement that your product will perform the way the customer expects each and every time. It becomes reliable and creates and resonates emotionally with your target audience. It should be short and truly represent why you are different - "when it absolutely has to get there overnight"
I - Identity
Your identity defines who you are and more importantly why you are in business. You should focus defining yourself strategically rather than the functions you perform. Focus on your core values, core differentiators and the markets you serve. Know who you are with confidence and conviction and your customers will come to rely on that identity.
D - Deliver Your Promise
Your promise delivery will make or break your brand. As the old saying goes "practice what you preach". You promise should permeate your entire culture and everything that touches the client should support your brand promise and reinforce your brand identity. There are never any exceptions and the minute you make one, the minute you lose credibility and trust with your customer.
To build brand equity and customer loyalty, you must have a strong company identity that people can relate to and a public commitment or guarantee, that people can expect each and every time they engage your organization including your employees, internal and external systems and actual product or service delivery. By mastering BID, you will create a loyal relationship with your customers, similar to the Blindly Proud Grandparents from my last article "Master Strategy: Know Your Customer"
sources:
www.KellieDandrea.com
www.blastmarketing.blogspot.com
Jumat, 01 Mei 2009
Why we Choosing Outsource?
Outsourcing has become an invaluable business strategy in the recent times. Business enterprises and entrepreneurs both, make use of outsourcing to enhance their business proceedings. They choose to outsource their business operations when they lack the necessary knowledge, skills, equipments to complete the tasks themselves or just cant afford to devote quality time to the same. This is the prime advantage of outsourcing, where you can hire service providers to complete the chores that you cannot do by yourself.
Generally, entrepreneurs and business enterprises do have the tools and softwares and knowledge to process their business operations themselves. When you are running a business, you might as well have skills and equipments to complete the various processes involved. This becomes even more important about the core business processes. However, it still makes sense to outsource certain tasks even if you are self sufficient in completing them at your end.
Outsourcing works on the concept of comparative advantage. Businesses might have all the requisite tools and knowledge and time for the tasks but outsourcing still would be an advantageous option. You just need to know the right time to outsource.
When you need to Save Money There are times when businesses and entrepreneurs need professional services of some kind but are unable to afford the costs of an in-house employee or a professional freelancer. This is when you can outsource the work to offshore service providers, the services of whom come at a considerably cheaper rate. You don't necessarily have to choose the cheapest option. Rather, you should focus on selecting the most cost competitive one where you get the best of services for the most competitive rates. Even if the hourly rates of offshore providers are the same as in-house employees, you will still save on all the costs associated with payroll, taxes, benefits and legal expenses.
When you need On-Time Delivery Businesses also go through times when they are at their bursting points and when you need to refuse client requests and projects because you are unable to complete all the projects by yourself. Or even if you are able to complete it that is because you work 24 X 7 and slog yourself. Instead of losing out on business opportunities, what you can do is outsource the task to third party service providers and continue making money and building your client base. It is very important to have a strong network of reliable vendors, especially so if your business has a fluctuating workload. When there is increased workload, you can simply contact your vendors for assistance. Moreover, you also have a back-up in case any unforeseen circumstances come in that may delay the project past the destined deadline. And not meeting deadlines is a huge blow to your business credibility.
When you need to Complete More Work As business owners you would like to know about all the aspects of your business and complete more and more work in the least possible time. This is where outsourcing comes in. by outsourcing the non-peripheral works to an external service provider, you would be able to concentrate on the core competencies of your business and accomplish more in less time.
Kamis, 23 April 2009
Project Management - Why a Project Initiation Document is so Important in a Successful Project
Many people perceive that generating reams of documentation such as plans and reports are the key to delivering a successful project.. As experienced Project Managers will tell you, this is rarely the case except when it comes to the creation of one piece of project documentation; namely the Project Initiation Document.
Essentially the Project Initiation Document is the key reference document for a project. Think of it as the project "Bible" which will be constantly referred to throughout the project lifecycle when questions of scope and delivery approach are raised.
It is a project document in which is detailed everything related to the project such as:
* Project Definition
* Business Case which details why the project should be done
* Scope of what the Project is delivering
* Strategy to deliver the project
* Project Team structure and Governance
* Communications Plan
* Quality Plan
* Project Risks, Issues and Assumptions
* Project Controls
* Project Budget
* High Level Project Plan
* Project Exceptions criteria
External observers often think that Project Manager's fears about project scope are overdone, but scope creep is without a doubt one of the major reasons why projects fail. Anyone who has experienced a flood of Project Change Requests throughout a project will attest to that!
However having a detailed and accurate Project Initiation Document tends to stop the majority of such problems for the simple reason that when Business Stakeholders try to change Scope, it is easy to refer them back to the Project Initiation Document. Further since this document will have been formally Approved by the Project Stakeholders and other interested parties, it is hard for anyone to say that they didn't know what the project was going to be delivering.
It is for this reason that a Project Manager should spend time on what is admittedly not a straightforward nor simple document to write. The problem is that all too often Project Managers are tempted to skim over this document in their desire to get the project started as soon as possible to meet extremely tight deadlines. However by doing this they are simply storing up problems for the future and the very real possibility that they are initiating a project which will have no chance of succeeding.
So to give a project the best chance of successfully delivering, it pays to devote time to getting the Project Initiation Document written correctly and approved by all the Project Stakeholders to ensure the project approach and scope is agreed upfront.
sources:
http://www.my-project-management-expert.com/
www.wikipedia.com
Kamis, 16 April 2009
Find Your Target Market - Make Money Fast
If you want to know how to make money fast, the answer lies within your marketing. Promoting to anybody and everybody is not going to get the job done.Advertising and marketing will sum up the type of success your home business has. However, if you really want to make money fast, you need to find your target market.
Your target market consists of people who are interested in what you have to offer. These are people that are looking for your niche and want the product you have to offer. Although it will cut down the amount of people that see your ads, finding your target market will drastically increase your internet income.
You have probably heard before that there is no such thing as bad traffic. While this statement is true, there is such thing as wasted traffic. Promoting their business to anybody and everybody is a mistake far too many entrepreneurs make. The end result is they receive visitors who have no intention of buying anything or even staying that long.
As a result, you end up wasting several hours on marketing that is going to get you nowhere. Instead, why not focus your marketing efforts on a specific group of people? This can cut back on the amount of people you market to, but you want to make sure you still spend as much time promoting your home business opportunity as you are today.
You are probably wondering how you can go about finding your target market now that you know how to make money fast by finding your target market,. There are several different methods you can use to find that particular market to promote to.
One of the most effective methods is posting in forums. There are hundreds of forums on the internet to post in and many are geared toward specific categories or niches. This allows you to talk to people who are interested in the niche you are in. Instead of just putting up an ad, you will get the chance to actually talk to prospects and let them know who you are. This is the perfect opportunity to build relationships and gain the trust of people.
Another method you can look into is writing articles. By writing articles, you can then submit your articles to hundreds of different article directories. You will find various categories and sub-catergories within each directory that you can submit your article under. As people read your article, they can then make their way to your web site with the link you place in your resource box.
If you want to know how to make money fast on the internet, you need to begin focusing on your target market. It is a waste of your time advertising to anybody and everybody. Start finding your target market and putting your time to better use.
SOURCES
http://www.wcgem.com
WWW.wikipedia.com
Minggu, 15 Maret 2009
How to Respond to Positive/Negative Mentions of your Brand
Publicity ISN'T always good publicity, and in an age where information, good or bad, spreads like wildfire, it's important to know how to respond to publicity on the internet to avoid nasty exposure and capitalise on positive comments. In order for you to build a Google CV that will see your name / brand name off to a good start it is essential that you respond to and manage all negative and positive comments on the web.
As bloggers aren't necessarily professional journalists, you may find yourself defending your brand against false allegations, or being praised outright.
Here are some pointers on how to respond to positive and negative mentions of your brand:
DO
• Use the opportunity to spark up conversation, increase your online presence and convince any negative blogger/commenter to see your side of the argument. • Set the record straight with the truth if the publicity is incorrect.
• Be responsive and don't let any press pass you by (a bit of online reputation management will ensure that this doesn't happen).
• Use the opportunity to receive honest feedback. Enquire about the details for the positive or negativity and you'll be one step closer to perfecting your product or service.
• Drown it out. Sometimes it's impossible to change opinions or have negative comments removed - and if this bad press appears at the top of your Google CV, then it's imperative that you do something about it as soon as possible. Create content that will overshadow the negative press, and hopefully push it down the ranks to a less noticeable position.
• Distinguish yourself from others with the same name who are receiving bad publicity.
• If all else fails when taking care of negative publicity, compile a formal press release featuring the correct information and syndicate online (but be sure not to draw unintentional attention to the bad press).
• Publicise positive mentions of your brand via social bookmarking to increase your web presence.
DON'T
• Don't pretend to be someone else and try to change opinions or praise your own brand. Not only is this morally questionable, but it is easily spotted, and can end in disaster.
• Don't try and censor a blogger. Bloggers really don't like this, and this could end up in an all-out war.
• Don't discuss your competitors. If it's not their argument, leave them out or you may see an extremely nasty situation unfold.
• Stand up for yourself, but never lose your cool and/or retaliate… Never.
• Legal counsel may come in handy, but only as a last resort - never use legal back up as a threat.
The bottom line: The internet is a medium that facilitates communications, connections and opinions. Use it to the best of your ability and you will see a sparkling set of results when a search is conducted for your name. But be patient - as these listings are organic and not paid for it will take time.
Joint Venture - websites and small local businesses
Label: management, online businessIf you've done any kind of research about starting a business or helping your new business to grow, you've probably run across the term "joint venture" or "JV." A joint venture is a means of partnering with someone else for specific business reasons, such as to build upon each other's strengths or to enter into a new market. When two entities enter into a joint venture agreement, they create a whole new entity.
The term joint venture does not in fact refer to this new entity but to the reason for the partnership. Also, there are no legal limits on who can enter into a JV - anyone can, including individuals, corporations, websites and small local businesses.
The most common type of joint venture is between two large companies. They enter into them most often to break into a new or specific market. There are countries that demand any foreign interest entering their economy first enter into a JV with a native company. Still, even if it's not a prerequisite, foreign companies can greatly benefit from having an interested party located in-country. The local office can keep a better eye on the social, economic and political situations there.
Even when a JV isn't a requirement, they can give a company a great advantage - as long as they are carefully considered. Small companies often enter into joint ventures in order to take advantage of skills, management styles and even the customer bases of larger, better established companies.
Let's take an example: You run a computer sales store but don't offer computer repair services. Your customers continue to ask about these services, and you repeatedly turn them away, recommending the guy who owns the little repair shop down the street. You realize that you could both benefit by creating a business partnership and he agrees to your joint venture idea. You both benefit. You no longer turn customers away, and he gets all the business plus a cut of the profits.
Joint ventures can be a wonderful tool for business, but they can be a disaster as well if they aren't properly planned out. Successful JVs usually comprise two companies with a combination of five characteristics: 1) Persistence; 2) Creativity; 3) Negotiation Skills; 4) Client Relationship Skills and 5) Visualization Skills.
Creativity is one of the most important of these characteristics. You must be able to think outside the box to see many different ways your business could benefit from a joint venture - and all the different joint ventures your business could fit into. For more detail visit www.joint-venture-guide.com there are possibilities for just about anyone who's interested - provided that you know where and how to look for them. It's also important to be creative when explaining your plan to a potential partner - you don't want them falling asleep on you.
Persistence is particularly important when you first approach your potential partners. Small businesses have a lot going on, for more detail visit www.joint-ventures-secret.com and the owners can forget you if you're not careful. You might also have to explain what a joint venture is if they don't already know.
You need to expect a lot of negotiation with your partner while you're laying out your business plan and detailed agreement documents. You want to protect your interests, and of course your partner wants exactly the same thing. Sometimes you will disagree, and you must be willing to show determination and not give in to undesirable conditions. You must be prepared for some serious discussion.
www.jointwebventures.com
Jumat, 20 Februari 2009
Become a Manager in 7 Easy Steps (and Get Yourself Out of the Detail of a Subject)
One of the biggest challenges when moving up the career ladder is knowing how to give up control of the 'detail', i.e. influence and decision making of technical subject matters. To some people, it's losing their edge - their very basis of power and expertise. This can be a big misconception, particularly by those people who are already feeling the pull towards management and leadership positions.
Have you been through this journey yourself?
Breaking out of this mindset can take a long time, yet it can be achieved by eventually realizing that having a strong understanding of the concepts of a subject, and how to make it sound sensible and accessible to the layman, is even more powerful. Our role must be able to influence people outside of our subject matter. Decisions of funding, risk management and acceptance of business cases are generally performed by other people in our organization, so it is these people that we must learn to appeal to and build relationships with.
There are seven steps to take that will take use through this journey from subject-matter expert into a manager.
1) Understand the overall concept and value of a subject,
2) Know how it fits into the big picture and the business environment,
3) Develop messages and models that articulate its value to our organization,
4) Learn how our subject matter impacts other departments in our organization,
5) And how it is influenced by the work of other departments,
6) Understand its costs to our organization and our customers, and
7) Learn how to describe it in simple, plain language
This is the most powerful application of a subject!
It takes a brave person to make these steps, and confidence is the key. We don't really leave our subject behind, rather, we learn how to make use of it in the wider business context and demonstrate its value to colleagues outside of our department. It is then that we can manage our subjects as a Manager.
The author of this article Simon Stapleton is a coach helping Information Technology professionals with their Career Development, Commercial Development and Personal Development. His website http://www.simonstapleton.com
Kamis, 12 Februari 2009
Superior Leader - Warren Buffet
Superior business leader and American investor Warren Buffett is often called “Oracle of Omaha” or the “Sage of Omaha” and philanthropist. (Wikipedia, 2007) Buffett is the CEO, and the biggest shareholder of the Berkshire Hathaway Company. Buffett’s has an estimated current net worth of approximately $52 billion in US funds. Forbes Magazine ranks Buffett the third richest person in the world in September 2007 behind Carlos Slim and Bill Gates.
Warren Buffett is known for his economical and plain lifestyle. Buffett still lives in the same Omaha, Nebraska house that he purchased in 1958 for $31,500 with a current value of $700,000. In 1989, Buffett spent $9.7 million of the Berkshire’s funds on a corporate jet. He jokingly named it “The Indefensible” because of his past criticisms of such purchases by other CEOs. (Wikipedia, 2007)
Warren Buffett decided to make a commitment to give his fortune to charity back in June 2006. Buffett’s charity donation is approximately $30 billion, which is the largest donation in the history of the United States. The donation was enough to more than double the size of the foundation with 83% of it going to the Bill and Melinda Gates Foundation. Buffett believed that his family had enough money to get started in life so Buffett decided to give his fortune to charity. Buffett’s annual salary in 2006 was only $100,000. In 2007, Buffett was listed among Time Magazine’s 100 Most Influential People in the World. (Wikipedia, 2007)
What makes Warren Buffett a good business leader? This is what everyone wants to know because Warren buffet is so successful. It all starts with leadership. Warren buffet is a true leader where his leadership makes a difference in the world. Leadership is very much related to change and Warren Buffett has the capabilities of leadership change to fit the changing world. Warren Buffett has repeatedly demonstrated the ability to map read in the irregular waters of change. Is Warren Buffett born a leader? The authors of this paper believe not. Experience and research has shown little evidence that an individual who comes to power is a “born leader.” Warren Buffett took the falls that any other leader has to take. Warren Buffett learned from his mistakes and turned his mistakes into a positive thing. Warren Buffett shares his leadership at all organizational levels and Buffett is empowered to share leadership responsibilities. In the world of business, many titles related to leadership roles are actively used in business and Warren Buffett wears those titles to make him effective in multiple leadership positions in business. Distinction between good leadership and good management is made often. Managers are made to be organizational, controllers and budgeters. Warren Buffett has leadership in all three departments and one must have these traits to be a good business leader.
Another important trait in Today’s business leadership is communication. Warren Buffet is a skilled communicator in all aspects of life. Communication is the real key of leadership. Skilled communicators have an appreciation for positioning in the business world. Warren Buffet is experienced at positioning himself at the right place at the right time. Warren Buffet has the understanding of the people he is trying to reach and what he can and cannot hear from the people. Knowledge of audiences’ needs and wants gives the orator the ability to listen. Warren Buffett is an excellent listener with the ability to convey his understanding.
When Warren Buffett talks, people listen. Warren Buffett can send a message through an open door and does not have to push the message through a wall.
Leadership is crucial to any successful business and good leadership is what Warren Buffett is all about. This is what makes Warren buffet a good business leader.
Mr. Warren Buffett’s investment strategies and course of leadership are shining examples of characteristics shared by cognitive theorists. Cognitive theory is an approach of explaining behavior through perception, anticipation, and thinking. Mr. Buffett’s continual approach of analyzing both possible investment choices, market trends, and the ability to place management resources of the right caliber in the right position has consistently brought this investor to the forefront amongst peers and the marketplace. At the core of every sound investor is a creative innovator.
Innovation demands creativity. Creativity in turn draws on our cognitive faculties, across the full amplitude from emotion to reason. In the number-heavy world of global investing, innovative thinking is critical. Innovative investors decipher future trends, spot likely winners by combining science (financials) with art (acuity and perception) and continuously mitigate risk. They assess user needs, product features, the proper deployment of money, professional organizational structures and risk management. (Kore Kalibre, 2006)
Mr. Buffett’s instinct and ability to interpret market trends is also held by tight reigns. Despite over 50 years of growth, Mr. Buffett always adheres to one of the most basic business principles: “…only compete where you have a competitive advantage. Warren Buffett refers to staying within your circle of competence. Social psychologists tell us, though, that we are prone to overconfidence when it comes to assessing our abilities…” (Arthridge, 2006) A man of Warren Buffett’s position and track record could easily be derailed to a sense of over confidence. The principle of only competing within your range of competitive advantage is a principle that can be applied to many other areas in life, and Mr. Buffett’s ability to work and live by this idea has allowed him to continue forward with minimal bruising.
By establishing the previous examples, the authors can reinforce the principles of cognitive theory in that Mr. Buffett behavior patterns are clearly dictated by thought processes, which include interpretation, analysis, and foresight. “As experiences and events gain meaning and value, the process becomes increasingly top down as the mind in (a) attempt at an orderly process influences perception though beliefs, goals and external process” (Gardener, 2007)
Warren Buffett’s is a self empowered leader, because he is loyal, sets goals, plans a strategy for achievement, and stays committed until he accomplishes his purpose. Up to date, he is the greatest stockbroker of all-time. He is a very conservative investor that prefers to invest in companies that sell name brand products that he uses. For example, Coca-Cola, Gillette Razors, See’s Candy, Gulfstream Jet, and GEICO are the major companies he invested in. In the nineties his assets quadrupled in less than five years. He is a smart investor that usually does not take big investment risks. For example, he will not invest in internet stock, because the return is unpredictable. He likes to invest in companies that he is sure will be successful 20 years later. He buys the company with the intentions of keeping it forever. Usually, the management team of each company is the same staff that sold it Warren Buffett from the beginning. He stays loyal to his partners, and the team workstheir best to keep him happy.
After Warren Buffett’s wife died, he decided to donate 85% of his money to charity. However, “he wants his money to be used the same year he donates it”.(Harris, 2006) The requirement will accelerate the process to help the world. According to Fortune magazine, five-sixths of his money will go to the Bill and Melinda Gates Foundation. This foundation which focus on finding cures for diseases that are common in poor nations. The rest of the money will be split among four other charities, that are each run by his three children and one that is in his late wife’s name.
Warren Buffett is not a huge spender. In fact, he still lives in the same house he bought 40 years ago. Warren “told ABC News “Nightline” that being born into wealth did not entitle his children”(Harris, 2006). In addition, he told Fortune magazine that, “A very rich person would leave his kids enough to do anything, but not enough to do nothing.”(Harris, 2006) In other words, he wants his children to work earn their money and value hard work and smart choices.
In the year 2006, Warren’s first annual donation to the Bill and Melinda Gates Foundation was $1.5 billion and the rest was divided among the four charities. He was the first person to make a donation better than Bill Gates, the richest man in the world. It seems as if Bill Gates and Warren Buffett set a good example and lead others to be more generous, because now the Barron Hilton has committed to donating half of his fortune to charity also. Barron Hilton is the founder of the Hilton Hotels and is worth $2.3 billion. Hopefully, a trend started among the fortunate to give to the less fortunate.
The personality of Warren Buffett ties to the Social Cognitive Level, because he tries to understand and make sense of other people. He observes the differences in social knowledge when dealing with people. Social cognition refers to making sense of ourselves, others, and how the information is used. In the sixties and seventies Albert Bandura and Walter Mischel were psychologists, studying personality development. They found that social learning and cognitive principles improve ones abilities to self-regulate and to follow goals. Warren investment choices were successful, because he conditioned his the way he processed information, choices, and expectations.
About The Author
Michael J. Spindler - http://www.localmusichits.com - A Musicians Community for Fans and the Bands to promote hits in local music on a national stage.
Gardener, J. (2007). Cognitive Behavior Theory. Retrieved December 26, 2007, from http://www.cognitivebehavior.com/theory/index.html
Harris, D. (2006, June 26,). Warren Buffett's Unprecedented Generosity. Retrieved December 31, 2007, from http://abcnews.go.com/print?id=2118501
Kore Kalibre (2006, March-April 2006). Warren Buffett’s Innovation: Staying away from Rapid Product Innovation. Retrieved December 26, 2007, from http://www.korekalibre.com/index.php?option=com_magazine&task=show_magazine_article&magazine_id=26
Legg Mason Value Trust (2006, October 26). Legg Mason Value Trust (LMVTX) Letter to Shareholders. Retrieved December 26, 2007, from http://markets.kiplinger.com/kiplinger?GUID=323448&Page=MediaViewer&Ticker=LMVTX
Wikipedia (2007, December 25). Warren Buffett. Retrieved December 18, 2007, from http://en.wikipedia.org/wiki/Warren_Buffett
Rabu, 11 Februari 2009
Managing People: Are You Frustrating or Inspiring
Good management consists in showing average people how to do the work of superior people.
John D. Rockefeller
How good are you at managing people? As a leader you can be joyful and inspiring or frustrating and soul destroying. Let's look at how you can turn managing people into a soul destroying enterprise and then take a look at a few simple actions that can steer you toward inspiring yourself and others.
How To Be A Frustrating Leader
When you got your first management role, you probably had very good intentions about the difference you would make and the results you would deliver. Unfortunately, for many, the extent of their training in managing people is to attend a one or two day supervisory course.
Once the impact of the training is over and forgotten in the rush of day-to-day busyness then the most likely source of influence on how you manage your people is the people you report to. Even if you don't like them as managers, their style will have an indelible impact on how you show up as a leader.
In hundreds of workshops, consistently participants have told me that the things they dislike and are frustrated the most by, in their managers are:
* Think You Must Have All The Answer and Not Ask Others Opinions
* Be More Concerned About Own Needs Than The Needs of Others
* Spend Little Time In Reflection, Self-Insight and Self-Improvement
* Hog The Limelight
* Inconsistent In Behaviour
* Don't Let Your People Have Opportunities to Develop
* Don't Set Clear Targets
As a youngster growing up, you probably said to yourself "I will never do/say/be like my Mom and Dad". Yet, how many times have you heard people say: "My goodness, I sound just like my parents!" And there's the rub.
This is exactly what happens in organizations. You promise yourself that when you become a leader you won't be like your boss - s/he has done a good job of showing you what NOT to do.
However, the people who report to you may well tell a different tale! They may see you as everything you disliked in your boss!
How To Be An Inspiring Leader
Of the hundreds of things you can do to be an inspiring leader here are what are possibly the top five approaches you can use to inspire your people to be at their best.
Focus on Strengths, Minimize Weaknesses: Create a work environment that enables people to focus on using their strengths and to work around their weaknesses. According to research conducted by the Gallup organization, managing people's strengths, is one of the key success levers of any business.
When people are using their strengths, they come into that state of being that Mihaly Csikszentmihalyi calls Flow. In Flow people become absorbed in what they are doing and use their capability to its fullest.
Traditional thinking has been that people should focus on improving their weaknesses. The research, however, finds that getting people to spend a lot of focus on improving weaknesses is fundamentally flawed.
Provide Challenging Work by Delegating Authority and "Sexy" Assignments: Delegating work that provides added responsibility, variety, challenge and enables a higher profile in the organization is one sure way to inspire the people you are managing.
Done well it engages, energizes and improves commitment because people feel they are needed and respected. It also builds your reputation as a person who develops talent and ensures, as word gets out, that you attract stars to your team who want to be a part of the buzz.
Demonstrate the Value of Your Team: You must have impact on those people who hold the keys to the resources and promotional opportunities your team desire. Influence upward well, so that your team is seen in a good light - as a place where winners and many potential future leaders reside.
Regular Face-to-Face Contact: Make sure that on a regular basis you are meeting with your team members. Set aside time to talk about what is working, not working for them in their job. What their goals and aspirations are. What support they need from you in order to make this a great work experience for them.
In survey after survey the number one thing that people wanted from their leader is that they had regular opportunity to talk to their leader about more than just the day-to-day issues.
Walk Your Talk: People need to feel that you are committed to your personally espoused principles/values as well as the principles/values of the organization. Most managers believe they are honest when communicating with and managing people. Yet, most employees don't believe their managers honestly communicate results and requirements.
It is critical that people believe they can rely upon you. If you make an agreement with someone, no matter how small, make sure you stick to it. Nothing will undermine your credibility and integrity quicker than broken promises.
The advantage of consistently using these approaches is that your people will feel good about work and even better you, you will feel inspired about the difference you are making. Oh and by the way, your business results will sky-rocket!
Breakthrough Leadership Mentor, Shelley Holmes has helped thousands of individuals and hundreds of organizations to align their potential. How do you rate on the 99 point Manager to Breakthrough Leader scale? Take your self-assessment today: http://www.leadership-and-motivation-training.com/leadership-assessment-tools.html#manager
