Tags |
|
|
Links |
|
|
Answer Upon - The Most Important Management Skill
Contemporary economic models present the typical consumer as deliberative and highly forward-looking, not subject to impulsive behavior. Shopping for a product or a service is seen as an information-gathering exercise in which the buyers look for the best possible deal for products and/or services they have decided to purchase. Consumption choices represent optimizing within an environment of deliberation, control, and long-term planning. Whether such a picture is accurate it would be news (and news of a very bad sort) to a whole industry of advertisers, marketers, and consultants whose research on consumer behavior tells a very different story. Indeed, their findings are difficult to reconcile with the picture of the consumer as highly deliberative and purposive.Serious empirical investigations suggest that these assumptions do not adequately describe a wide range of consumer behaviors. The simple rational-economic model is reasonable for predicting some fraction of choice behavior for some class of goods -apples versus oranges, milk versus orange juice- but it is inadequate when we are led to more consequential issues like consumption versus leisure, technological products with high symbolic content, fashion, consumer credit, and so on. In pa
#5 Use the Right Tool – Effective managers can draw from a treasure chest of too
How do I know that this can happen?Simple: It has happened to me! Let me show you the play-by-play…Summary of trade:* Name of Company: Cemex (ticker:CX).* Opening Trade: Bought 20 contracts of CX on January 31, 2005 at $2.40 a contract (March 2005 expiration, Strike: 35).* Closing Trade: Sold 20 contracts of CX, two days later, on February 2, 2005 at $4.00 a contract for a profit of $1.6 a contract, or 40%.* Between the time I bought and sold my options, the stock moved $1.32.This was my first time my options “popped” in such a short period of time. A “freak of nature” type of incident? I don’t think so! So why did this happen? Now I do admit, however, while I would love to have all my trades profit this quickly, there is always a little luck when it comes to how quickly things move. But what was not due to luck were the reasons that I entered into this trade in the first place.Three factors led me to believe that this setup looked ripe for the plucking.First: The trend is always your friend.This is a simple, yet, often overlooked statement. Higher highs, and higher lows indicate an up-trending graph (I’ve circled the higher lows in the graph). The reason why this rule i
I’ve worked with some of today’s leadership and management thought leaders and researchers including Tom Peters, Dr. Warren Bennis, Dr. David Ulrich, and Dr. Henry Mintzberg.
I’ve met, researched, and worked with some of today’s renowned leaders including Captain Mike Abrashoff (author of GrassRoots Leadership and former commander of the U.S.S. Benfold), General Tommy Franks (former commander of CentComm and author of American Soldier), and Sir Richard Branson of Virgin Group.
I’ve talked to thousands of employees and looked at what they wanted – NEEDED – from managers that they felt they weren’t getting, or getting enough of.
And, perhaps most importantly, I am a manager. I hire, fire, manage performance, coach, cajole, and counsel.
Based on my unique set of experiences, I’d like to share my belief of the most important management skill and I’d like to count down to that skill in Lettermanesque fashion. You can see which skills I considered and why I believe each is important in its own right, but not THE most important skill.
#7 Know What Motivates People – Motivation is an intrinsic thing; theoretically you can’t motivate someone who doesn’t want to be motivated. While I agree with that, effective managers draw from a variety of techniques to cajole, encourage, inspire, recognize, and otherwise create an environment where many people ARE motivated. They recognize that each person is motivated by different things from simply having a job to contributing to something great. They also realize that what motivates someone tomorrow may be different than what motivates them today.
#6 Walk Around – The best way to manage – to know what’s going on, to build the credibility that only comes from someone “in the know” – is to regularly and frequently get out there. More and more managers and supervisors are isolating themselves to get the things done – reports, updates, budgets, analyses – that upper management is demanding. Effective managers know that without the effective performance of their people, all of the ancillary work is for naught. The best way to see what’s going on – and to be seen – is MBWA, Management By Wandering Around.
#5 Use the Right Tool – Effective managers can draw from a treasure chest of tool
The work environment is undergoing constant change, i.e. in factories, manufacturing units; production houses the work scenario and working condition is changing. Prolonged working hours, specialization of job profiles, technical complexities for jobs, increase in work pressure, etc are some of the major aspects of work environment that are undergoing changes. In the industrial set ups competition is growing by leaps and bounds. So the main concentration of employers is to increase production, maintain quality of the products yet make the long working hours more pleasant and safe in terms of accidents and fatigue for the employees. There are certain aspects of work environment which could exert positive effect on working capacity of the employee like better working atmosphere and certain which could exert negative influence on the employees like unhygienic working interiors.Hours of work and its effect on productionThe main problem in industries is the ratio of the total hours of work and the total production of the industry. It is a general belief that by increasing the work hour’s production would increase. But it is not important that increasing working hours would increase overall production, because to calculate it, firstly it is im
I’ve talked to thousands of employees and looked at what they wanted – NEEDED – from managers that they felt they weren’t getting, or getting enough of.
And, perhaps most importantly, I am a manager. I hire, fire, manage performance, coach, cajole, and counsel.
Based on my unique set of experiences, I’d like to share my belief of the most important management skill and I’d like to count down to that skill in Lettermanesque fashion. You can see which skills I considered and why I believe each is important in its own right, but not THE most important skill.
#7 Know What Motivates People – Motivation is an intrinsic thing; theoretically you can’t motivate someone who doesn’t want to be motivated. While I agree with that, effective managers draw from a variety of techniques to cajole, encourage, inspire, recognize, and otherwise create an environment where many people ARE motivated. They recognize that each person is motivated by different things from simply having a job to contributing to something great. They also realize that what motivates someone tomorrow may be different than what motivates them today.
#6 Walk Around – The best way to manage – to know what’s going on, to build the credibility that only comes from someone “in the know” – is to regularly and frequently get out there. More and more managers and supervisors are isolating themselves to get the things done – reports, updates, budgets, analyses – that upper management is demanding. Effective managers know that without the effective performance of their people, all of the ancillary work is for naught. The best way to see what’s going on – and to be seen – is MBWA, Management By Wandering Around.
#5 Use the Right Tool – Effective managers can draw from a treasure chest of too
There is one thing that all business owners, managers, and shareholders have in common, no matter where in the world we are from, we all want to make money! The methodology and the understanding of how to make money varies widely however, as a consequence my experience is that less than 20% of businesses really make an acceptable profit, which is bankable!Business is no different to a professional sporting venture in that it requires; Working as a team. Having flexible game plans. (strategies) The ability to conduct detailed analysis. Sound administration. Choosing good support.(suppliers, employees and professional advisors) Respecting and knowing your opposition. Introducing plenty of training. Playing to win. The very foundation of good performance in any company comes down to structuring your financials properly. From this solid foundation, you can then build a far more profitable business. Core business salesSales do not reflect the profitability of the company, but rather reflect the base on which to structure the company's costs, and conseq
#7 Know What Motivates People – Motivation is an intrinsic thing; theoretically you can’t motivate someone who doesn’t want to be motivated. While I agree with that, effective managers draw from a variety of techniques to cajole, encourage, inspire, recognize, and otherwise create an environment where many people ARE motivated. They recognize that each person is motivated by different things from simply having a job to contributing to something great. They also realize that what motivates someone tomorrow may be different than what motivates them today.
#6 Walk Around – The best way to manage – to know what’s going on, to build the credibility that only comes from someone “in the know” – is to regularly and frequently get out there. More and more managers and supervisors are isolating themselves to get the things done – reports, updates, budgets, analyses – that upper management is demanding. Effective managers know that without the effective performance of their people, all of the ancillary work is for naught. The best way to see what’s going on – and to be seen – is MBWA, Management By Wandering Around.
#5 Use the Right Tool – Effective managers can draw from a treasure chest of too
Printing digitally is a technology that permits linking printing presses to computers that proves beneficial in a number of ways: faster turnaround times, lowered production and setup costs and the ability to personalize documents easily. This moderately new technology is prominent in the printing industry because it's a modestly more efficient way of printing. Printing has now caught up with the digital age utilizing digital means to help businesses produce their printing needs that are faster and inexpensive than ever before.When referring to digital printing, one should be aware that there are a couple of different ways to describe digital printing like short-run printing, on-demand printing, etc., and each term is used interchangeably. The process of digital printing involves gathering information, i.e. image, text, or both through an analog like scanning a document or through a digital means like using a digital camera or word processor document. Conversion of information gathered is essential. The file format needs to be converted to a useable file, such as TIFF, or EPS. Printing can be started almost immediately after the design and layout is set.There are many methods used for printing. Digitally inkjet printing is the mos
#6 Walk Around – The best way to manage – to know what’s going on, to build the credibility that only comes from someone “in the know” – is to regularly and frequently get out there. More and more managers and supervisors are isolating themselves to get the things done – reports, updates, budgets, analyses – that upper management is demanding. Effective managers know that without the effective performance of their people, all of the ancillary work is for naught. The best way to see what’s going on – and to be seen – is MBWA, Management By Wandering Around.
#5 Use the Right Tool – Effective managers can draw from a treasure chest of too
WHAT ARE MERCHANT ACCOUNTS?There are four most common Merchant Accounts:• Visa Merchant Account • MasterCard Merchant Account • American Express Merchant Account • Interac (Debit Cards/Bank Debit Cards) Merchant AccountWhen you are setting-up your Payment Process System you will apply for Merchants Accounts on each Card that you would like to be able to allow your Customers/Clients to be able to pay by (if they so desire to do so).You do not have to have Merchant Accounts on all Cards. You can pick and choose which Cards you wish your Payment Processing System to process. You can usually always add additional cards as time goes on.Most Merchants will initially get set-up with, at least, a Debit Merchant Account and usually Visa & MasterCard Merchant Accounts.Once you have been approved for each Card you will be given an individual Merchant number for each Merchant Account that is programmed on your Payment Processing System.WHAT ARE THE FEES ASSOCIATED WITH ACCEPTING DEBIT & CREDIT CARDS?What you have to take into consideration is that all Payment Processing Companies structure their Monthly fees in different ways. It is not a good idea to compare Debit costs to Debit costs,
#5 Use the Right Tool – Effective managers can draw from a treasure chest of tools to use one that is most appropriate for the situation. Leadership and management research over the past 100 years has come up with a single definitive conclusion when answering the question, “what’s the best approach?” The answer is, “it depends.” It depends on the situation, the skills of the leader, the needs of the employees, and the unique interaction of the three. Effective managers have an arsenal of tools to draw from and, most importantly, they have the performance analysis skills to know which tools to use. Coaching, feedback, counseling, feedback, information sharing, self-disclosing, encouragement, recognition, problem-solving, corrective action, and others are options that the effective manager can use at will.
#4 Learn and Practice Your Craft – Like parenting, most new to the position find themselves underprepared for the awesome responsibilities. Like parenting, effective managers study the craft and art of managing. While most of us were promoted to management positions because of our technical expertise (and to some degree our ability to not bump into furniture or tick anyone off), what brought us here won’t keep us here. In fact, many of our technical competencies work against us as managers and supervisors. Certainly, there is no shortage of books and courses on management and leadership.
#3 Self-Assess and Course Correct – Almost any management failure can be traced back to an almost conscious decision to ignore the realities of the situation. Ineffective managers and leaders rely heavily on hope as a strategy to get through this. Effective managers and leaders welcome – and seek out – feedback. Effective managers and leaders are like guided missiles knowing that the only way they can reach their target is if they seek in-course feedback and make in-course adjustments. Effective managers use the “start, stop, continue” method of self assessment; to increase my effectiveness:<
HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.hubyou.info/article/3603/hubyou-The-Most-Important-Management-Skill.html">The Most Important Management Skill</a>
BB link (for phorums):
[url=http://www.hubyou.info/article/3603/hubyou-The-Most-Important-Management-Skill.html]The Most Important Management Skill[/url]
Related Articles:
Business Strategies Straight from the Horse's Mouth
Bookmark it:
|