Great Minds

Workplace Ethics #GreatMinds

/ Great Minds, Management, Motivation

Workplace ethics are a vigorous set of beliefs that differ with people. These are a set of values and moral standards that need to be followed by both employers and employees at the workplace. Such ethical acts at the workplace promote both employee-employee relationships and employee-customer relationships. An organization may decide to put such ethical and moral practices into writing or not — they are, however, meant to be followed. Ethical behaviour at the workplace may involve — abiding by the rules and regulations set forth by the organization, effective communication, taking responsibility, accountability, professionalism, trust, and mutual respect for your colleagues. These examples of ethical behaviours ensure maximum productivity at work and could be crucial for career growth.

Here’s what Martin Luther King Jr., the legendary leader of the American civil rights movement, has to say:

WHAT DO YOU THINK?

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In this ongoing series #GreatMinds on my blog, I am shining a spotlight on the important ideas that some very successful people keep talking about in their public life.

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Ensuring Success of Mergers & Acquisitions (M&As) #GreatMinds

/ Business, Great Minds, Management

Post-merger Integration Issues (PMIs) – this is the single main reason for the failure of M&As in quite many cases. Senior executives and other key managers generally remain occupied with negotiations and deal details of M&As rather than focusing on the vital aspect of post-merger integration. The merged firm needs a leader who can guide the combined entity and provide a sense of purpose and direction to the entire organization. This, among other things, will require visionary leadership, the magic of effective communication, aiming for high synergy and the ability to address cultural differences.

Let us take a closer look at the following image with this in mind:

WHAT DO YOU THINK?

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In this ongoing series #GreatMinds on my blog, I am shining a spotlight on the important ideas that some very successful people keep talking about in their public life.

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The Miracle of Value Creation #GreatMinds

/ Business, Great Minds

Value Creation means enhancing the worth of products and/or services being offered by a company to its customers. Businesses today concentrate on creating better value for their customers as well as for their shareholders (or stakeholders) who want to see their stakes appreciate. A value chain is a series of activities or processes which aims at creating and adding value to an article (product) at every step during the production process. The logic is simple; the more value a company creates, the more financial surplus (or profit) it generates. When more value is created, the same is passed on to the customers and thus, it helps in consolidating a competitive edge.

Here’s what Sandeep Aggarwal, a serial entrepreneur, angel investor, Internet visionary and philanthropist, has to say:

WHAT DO YOU THINK?

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In this ongoing series #GreatMinds on my blog, I am shining a spotlight on the important ideas that some very successful people keep talking about in their public life.

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Your customer value proposition (CVP) #GreatMinds

/ Business, Great Minds

Your customer value proposition (CVP) is what makes customers choose you instead of the competition – CVP is the foundation of your competitive advantage. Your customers compare your CVP with that of your competitors before they decide either in your favour or against you. Writing your CVP requires you to understand operations, marketing, as also strategy. You can offer value to your customers in several ways – monetary savings through offers and discounts, prompt deliveries, quicker attention to their complaints and suggestions, superior after-sales services, and providing certain specific conveniences like free home deliveries and others. You can discover many creative and innovative ways to bring value to your customers. Keep your CVP short and uncluttered. Be precise. Your customers have specific needs; your value proposition should offer targeted solutions. And finally, it is about your customer, not you. Your value proposition should discuss only what matters to your customers and not you.

Here’s what Micheal LeBoeuf, an American business author and management professor, has to say:

WHAT DO YOU THINK?

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In this ongoing series #GreatMinds on my blog, I am shining a spotlight on the important ideas that some very successful people keep talking about in their public life.

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Can you explain it to me like I am five? #GreatMinds

/ Great Minds, Motivation

As an educator, I have been connecting to so many students and teaching them so many concepts. Then to check whether they have understood the concept well – I quiz them or ask for their feedback. Their answers help me gauge if my students have truly understood what I have just taught them. Whenever I spot a student who is unsure of a complicated concept, I urge the class to “explain it to me like I’m a five-year-old.”

I have always had this belief that if you can explain a concept to your grandparents or a young child in simple terms, it demonstrates your understanding. If you can break down a complicated idea with analogies relevant to your life, it shows that you have grasped it well. I have been using this technique for the last few years, imagining that it was my innovative teaching strategy; until I stumbled upon a quote from Einstein! (Haha!)

[There are various versions of this quote that are attributed to him.]

Here’s what Albert Einstein, the greatest physicists of all time, has to say:

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In this ongoing series #GreatMinds on my blog, I am shining a spotlight on the important ideas that some very successful people keep talking about in their public life.

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Managing Teams #GreatMinds

/ Great Minds, Leadership, Motivation

It is the capability of collective thinking of the team that decides its performance and success in the long run. It is the job of the manager/leader to strive to achieve a positive atmosphere, free from rigidity and envy, personal aggrandizement, in which people compete with ideas — not egos. The manager needs to instil camaraderie in the team, where it is clear that the group and its goals take precedence over the prominence of any member.

Here’s what Henry Ford, an American industrialist and the founder of the Ford Motor Company, has to say:

WHAT DO YOU THINK?

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In this ongoing series #GreatMinds on my blog, I am shining a spotlight on the important ideas that some very successful people keep talking about in their public life.

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Understanding Frustration #GreatMinds

/ Great Minds, Motivation

When we cannot attain or reach a desired outcome or situation – we are encountered with an emotion – called frustration. We get frustrated when we are blocked (or prevented) from reaching a desired goal or ambition. Whenever we accomplish a goal, we feel happy or enjoy that feeling of achieving something. On the contrary, when we miss a target or are prevented from reaching the desired end – we may surrender to frustration and thus, feel annoyed or depressed.

Frustrating situations, that cause resentment, or lead to a feeling of resignation, can have a destructive effect. However, frustration should not always be looked at as a negative emotion. Frustration often can be a motivator too! Since it can draw our attention to problems in our lives and compel us to look at strategies to bring about a change.

Here’s what T F Hodge, an American author, has to say:

WHAT DO YOU THINK?

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In this ongoing series #GreatMinds on my blog, I am shining a spotlight on the important ideas that some very successful people keep talking about in their public life.

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What’s The Grapevine Channel of Communication ? #GreatMinds

/ Great Minds, Leadership

The grapevine (or the corporate gossip) is the informal communications channel within an organization that is entirely different as also much faster than the firm’s or company’s formal communication channel. The formal communication channel within an organization generally flows in the same direction as the organization’s scaler chain. However, it is not so with the grapevine channel – which can flow in random order – in any direction – horizontally, vertically, diagonally, or in any other manner within and across the organizational structure. 

Juniors may pass on information to their superiors, an executive may share a small piece of information to a worker in the packaging section, or employees in different sections and departments may relay or share snippets or titbits. Grapevine information may have a wider coverage with a range of subjects concerning and involving policies announced by the top management, workers compensation, trade union matters, CSR related decisions, and even matters related to a cricket match or a recent Bollywood blockbuster – virtually anything of interest to members of the organization. The information may be highly accurate or totally distorted – and/or it may or may not be of interest to all.

Here’s what Lawrence G Lovasik, an American author and missionary, has to say:

WHAT DO YOU THINK?

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In this ongoing series #GreatMinds on my blog, I am shining a spotlight on the important ideas that some very successful people keep talking about in their public life.

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Who is an Intrapreneur? #GreatMinds

/ Great Minds, Leadership

To be an intrapreneur means to work as an entrepreneur with someone else’s money! It means you do the work without taking any financial risk. For example, a middle-aged executive working in a large corporate can be assigned an independent project or an operational unit as its whole-time director or in-charge. The company will offer an attractive salary to him, or commission on sales. He may receive some fringe benefits or some share in the profits of the company. It is not uncommon to offer equity shares of the company to such intrapreneurs (either free or at a price lower than the face value of the share) to make them feel that they are the owners of a small part of the company.

Here’s what Oliver DeMille, an American educator, public speaker and the founder of an educational model known as TJEd, has to say:

WHAT DO YOU THINK?

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In this ongoing series #GreatMinds on my blog, I am shining a spotlight on the important ideas that some very successful people keep talking about in their public life.

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The Universality of Management #GreatMinds

/ Great Minds, Management

The universality of management is an important concept to consider in modern management thought. When describing management as universal, we refer to the widespread practice of management in all types of organizations. One cannot bring a group of people together, regardless of the nature of the endeavour, and expect them to accomplish objectives unless their efforts are coordinated. Among other things, plans must be outlined, tasks identified, authority relationship specified, lines of communication established, and leadership exercised. Management, therefore, is required before any organization can expect to be effective.

Here’s what Agha Hasan Abedi, a Pakistani banker who founded “Bank of Credit and Commerce International”, has to say

WHAT DO YOU THINK?

Let me know in the comments section.

In this ongoing series #GreatMinds on my blog, I am shining a spotlight on the important ideas that some very successful people keep talking about in their public life.

The Universality of Management #GreatMinds Read More »