As a Manager, Is it Important For Your Employees to Like You?
As a manager, it's not nearly as important for your employees to like you as is for them to respect you. Many managers cannot understand the distinction between the two and mistake being liked for being respected. However wonderful it may be to be well liked, it does not have anything to do with being an effective manager other than possibly being more of a hindrance than a help if it's not accompanied by respect. Young or first-time managers will often make the mistake of setting out to make all their employees like them. There is, of course, nothing wrong with that, but it won't matter how much someone likes you when it comes time to discipline someone or give them feedback on a project that is less than positive.
Should Leadership Take the Blame For Staff Errors?
When one assumes a leadership position, he or she assumes all the responsibility that goes along with it. One of the responsibilities of leadership is to prevent errors from happening in the first place. If errors occur, it is not only the leader's responsibility but her obligation to step up to the plate and take ownership of any problems or issues created by the error. Part of the role of an effective leader is to train her staff to avoid making errors. While errors are inevitable, proper training of staff should serve to reduce their numbers, therefore preventing the leader from finding herself in the position to need to take the blame.
Measuring What You Need Versus What You Can
There are all kinds of reasons why so many organisations have performance reports that are bursting at the seams with measures that mean nothing, impact nothing or lead to nothing. They're measures that some will say "that's interesting" and others will bark are "a waste of time". Often it's because they are the measures that have always been reported, or some manager once wanted the measure for a project that ended five and a half years ago but it's still being report just in case, or because something is better than the nothing that would exist if we left it up to decision makers to decide what should be in the reports.
Motivating Your Employee With Money - Good Or Bad Practice?
There is no further doubt, that one strong motivation factor of any human being in their working life is the big word "MONEY". However as someone who is managing a business or as owner of a company, is giving money a good practice or a bad ones. Through years of my own experience, motivating people with money can still be very effective and can get you quick results, however effective it is, it can never give you solid and reliable human resource and it can never be good for your companies in the long run. Here are two cases that really happen in our company: Prior to 2003, our company has 3 shareholders who are sitting in the board of directors of the company.
The Emotionally Intelligent Business
You must have heard of emotionally intelligent leaders but not emotionally intelligent businesses. Believe it or not, these organizations exist. The question is, how do they do it? If you go to Google and key in the words "emotional intelligence and business", you will find pages of articles, research materials, and books about emotional intelligence and how it affects a business. There are so many best practices being shared not only in books but on the internet as well. While there's no magic bullet that could ensure the success of a business based on emotional intelligence alone, here are seven business practices that could actually leverage results for you and your business: 1.
Business Evaluations - When Are They Necessary
Having business evaluations done from time to time is just a part of doing business. The need for a business evaluation arises frequently, both on behalf of the business itself and from outside parties needing information regarding the business. Let's take a more in depth look at the practice. What Are Business Evaluations? A business evaluation can be sort of thought of as a very thorough and complete appraisal of the business's value, assets, accounts, and detailed economic situation. Not only do business evaluations account for the worth of the business, but they also usually reveal and take into account all retirement plans and pensions held within the business structure.
7 Tips For Managing Multiple Improvement Projects
Faced with the prospect of managing several major improvement projects at the same time? Here are some tips about how to keep your company's improvements on track - and yourself out of hot water! Tip #1: Focus on enterprise objectives. Look at the company's business strategy. Does the company intend to be the overall cost leader (Chevrolet), or charge premium price for a differentiated quality product (Mercedes)? Deploy the initiatives and projects that align with accomplishing company objectives. Implement cost reduction tools in Cost Leadership companies, and Total Quality Management tools in Differentiation companies.
Micro-Managing CEOs - On the Road to Corporate Failure
CEOs are Leaders, NOT managers. And least of all, micro-managers. What is Micro-Managing. Micro-managing takes on the traits of being passive-aggressive. It bespeaks of a state of mind which is deep seated and internalized from within. It stems from a deep sense of insecurity, a constant mistrust of subordinates which gives rise to the intense desire to constant manage the lower ranks of the corporate echelons ensure that activities are done the way he, the CEO wants. It is a compulsion which overwhelms the person to the extent that it is difficult to extricate himself from and the desire to micro-manage becomes him.
Finding the Hidden Treasure of Cost Related Synergies
Have you discovered that achieving cost related synergies in mergers and acquisitions (M&A) is like looking for the Lost Dutchman's gold mine? Most companies looking for them never realize their sought-after treasure: 39% of companies entering into merger and acquisition activity indicate at the outset that they are attempting to reduce the combined direct operating costs through the merger of the two companies. Of that 39%, only 35% of them achieve their goal. 9% of companies entering into merger and acquisition activities indicate at the outset that they are attempting to reduce indirect and overhead costs for the combined enterprise.
Stop! Don t Overpay For That Next Acquisition!
Are you about to spend more - perhaps millions more - than you need to for a company acquisition? Study after study has demonstrated that mergers and acquisitions are a risky business. Many fail miserably to deliver on expected synergies for this reason: Managers in acquiring companies become enamored with the acquisition target, and overpay for it. Is your company already a victim of this trap? Is it about to be? Stop! Don't overpay for your next acquisition. Here's how to avoid it. Successful merger and acquisition (M&A) leaders understand that it's easy to fall into the overpayment trap, because: Most sellers engage investment bankers and brokers to market the company.