Share Your Financial Results and Improve Performance

Should you share your firm’s financial results with this staff? This is one of the questions that business owners face every day, and all too often the answer is no.

But no is probably the wrong answer. An organization can very often improve performance and get its employees bought into it’s mission and purpose simply by sharing financial results with the employees.


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About the Author

Bill Hettinger, Ph.D. is an internationally known consultant, educator, and thought leader who has trained numerous students, business owners, and managers in finance, entrepreneurship and small-business creation.

His latest book is Finance Without Fear: A Guide to Creating and Managing a Profitable Business. Finance Without Fear is an easy to understand guide to finance that not only explains the key concepts of finance, but also explains what the numbers mean and how finance can be used to create a business with a competitive advantage. He can be contacted at [email protected]. To read Bill’s complete biography, click here.

The Big Picture of Business – The Book of Acronyms

Organizations are accustomed to looking at concepts and practices one way at a time. Clinging to obsolete definitions and viewpoints have a way of perpetuating companies into downward spirals.

By viewing from others’ viewpoints on life, we find real nuggets of gold with which to redefine organizations.

Companies that adopt new viewpoints and defy their conventional definitions will create new opportunities, organizational effectiveness, marketplaces and relationships.

As a Big Picture business strategist, I encourage clients toward adopting new ways of thinking about old processes, including those which brought past and enduring successes. Symbolic are these phrase definitions which I have created for familiar business words. I have created new acronyms for well-known business terms, in order to help us visualize opportunities differently.

My acronym for BUSINESS:
Big-picture
Understanding
Symbiosis
In
Nomenclature,
Economics,
Systems, and
Services

WORK:
Windows of
Opportunity,
Requiring
Know-how

My acronym for GOALS:
Getting
Organized
Allowing
Lifeblood
Systems

Growth
Opportunities
And
Legacy
Support

THINK:
To
Have
Ideas,
New
Keys

FAILURE:
Finding
Answers
In
Life,
Utilizing
Retrospective
Enlightenment

SETBACK:
See
Experiences
in Terms of
Business
Accomplishments,
Commending
Knowledge

SUCCESS:
Sophisticated
Utilizing of
Conditions,
Contributions,
Energies,
Strengths and
Synergies

My acronyms for FEAR:
Find
Excellence
After
Reflection

Formulating
Energies
Actions and
Responsibilities

TECHNOLOGY
Teaching
Excellence
Can
Have
Numerous
Outcomes on the
Life
Of the
Global
You

WEB:
Worthwhile
Economical
Business

EMAIL:
Enlightening
Marketplaces
And
Initiating
Links

PAST:
Perspectives
And
Systematic
Thoughts

FUTURISM
Fully
Utilized
Thinking
Underscoring
Retrospective
Insights
Synergizing
Methodologies

QUALITY:
Quintessential
Understanding of
Actions,
Linkages, and
Information
Taught to
You

AWARD:
Amazing
Wins
Are
Really
Deserved

PLANNING:
Process to
Learn
Alternatives,
Narratives,
Notations, and
Insights
Necessary for
Growth

TEAM:
Training and
Education…
Always
Meaningful

My acronyms for VISION:
Valuable
Intelligence
Search
In
Organizational
Networks

Viewing
Ideas,
Systems,
Insights and
Occasional
Newness

STAR:
Super
Talent,
Acting
Responsibly

DECISION
Duty for
Executives to
Communicate
Issues,
Symbolisms, and
Important
Organizational
Necessities

SPEECH:
Sophisticated
Presentation
Equates
Enlightenment,
Communication and
Harmony

ETHICS
Enlightened
Thinking…
Holding
Ideologies,
Commitments,
Sensitivities

The purpose of any business is not just to make money. It is to be just:

  • Committed to customers.
  • Respectful of employees.
  • Successful enough to grow, pay its dues and continue growing.
  • Upholding standards of quality and commitment.
  • Focused through everything else we back to our customers.

Too often, one hears about what goes wrong in business relationships. From our viewpoint, if business is conducted honorably and professionally, then profitability and success flow from doing the right things… not from pursuing false goals.

The best successes are earned and learned. We should not take good fortune for granted. Business track records are garnered by going the distance, reading the trends and continually changing. As the years go by, one continues paying dues. Learning, experiencing and evaluating is the best process to achieve lasting success. The best dues yield nuggets of wisdom that couldn’t have been earned any other way.

The smartest person is the one who knows what he-she does not know. With maturity comes the quest to learn more, understand the factors and apply newly acquired insights to higher purposes. The person who commits to a path of professional development never stops achieving… and profitably impacts his-her business relationships.

Language is food for the mind. Browse a dictionary, and you create new ideas. Words are fun and connect your business to tomorrow. Technology cannot take the place of human communication… only may add to it. Every opportunity should be taken to enhance literacy skills of employees and entire organization. The language of success is initially found in a dictionary.

My acronyms for EDUCATION:
Standpoint of students:
Earning
Distinction
Usually
Capitalizes
After
Training and
Instruction
Optimize
Net-rewards

Standpoint of teachers:
Each
Day
Unleash
Creativity
After
Teaching and
Inspiration
Occur
Noticeably

MUSIC:
Masterfully
Utilizing
Symbiosis,
Imagination and
Congruence

HEALTH:
Honoring
Excellence
Allows
Leadership
Toward
Humanity

FINANCE
Formulating
Information,
Notations
And
Newly
Changing
Efficiencies

RESEARCH:
Reasoned
Enlightenment,
Seeking
Education
And
Responsibly
Connecting
Hypotheses

TRUTH:
Teach
Realities
Uniformly
Through
Harmony

COMMUNITY
Citizens
Offering
Missions,
Methodologies,
Unification,
Needs and
Interconnections
To
You

MEETING:
Minds
Excercising
Effectiveness
Through
Ideas,
Negotiating
Goals

MONEY:
Mounting
Organizational
Necessities
Equal
Yields

BROKER:
Business
Resource for
Opportunities and
Keywords for
Economic
Rewards

SELL:
Skillfully
Explaining
Linking
Language

Seeking
Enlightenment…
Listening and
Learning

CHANGE:
Continually
Having dedicated
A
Natural
Guidepost
Effect

DIVERSITY:
Different
Ideas,
Visions,
Energies,
Realities,
Symbolisms and
Insights
Throughout
Yourself

LEARNING:
Legacy
Encompasses
All
Resource
Narratives
Introducing
Noticeable
Galvanization

KNOWLEDGE
Kaleidescopic
Nucleus
Of
Weighed
Learning
Embracing
Development,
Growth and
Effervescence

WISDOM
We
Influence
Society
Due to
Our
Mastery

REWARDS
Reap
Expectations
With
A
Resilient,
Durable
System

RESPECT
Responsibilities
Epitomize
Sophisticated
Perspectives,
Earning
Commensurate
Truths

TRAINING
Teaching
Radiant
And
Innovative
Nourishment
Inspires
Natural
Growth

LISTEN
Language
In
Studying
The
Evident
Networks

PROBLEM
Polarizing
Routine
Obstacles
By
Letting
Elegance
Materialize

SERVICE
Securing
Excellence
Requires
Visualizing
Innovating
Customer
Effectiveness

PROGRESS
Pursuing
Royal
Objective
Gauges…
Rewarding
Empowered
Super
Service

FORTUNE
Future
Operations
Require
Teams
Understanding
Needs and
Expectations

INNOVATE
Imagining
Niches and
Norms,
Optimizing
Valuable
Alliances,
Training and
Experiences

Every business, company or organization goes through cycles in its evolution. At any point, each program or business unit is in a different phase from others. The astute organization assesses the status of each branch on its Business Tree™ and orients its management and team members to meet constant changes and fluctuations. Going ‘outside the box’ to shift perceptions enables any company to think, plan and operate in productive new ways.

Characteristics of Creative Business Definitions… thus, Company Philosophy…

  • Focus upon the customer.
  • Honor the employees.
  • Show business life as a continuous quality process (not a quick fix or rapid gain).
  • Portray their company as a contributor (not a savior).
  • Clearly define their niche (not trying to be all things).
  • Say things that inspire you to think.
  • Compatible with other company activities and behaviors.
  • Remain consistent with their products, services and track record.

About the Author

Hank Moore has advised 5,000+ client organizations worldwide (including 100 of the Fortune 500, public sector agencies, small businesses and non-profit organizations). He has advised two U.S. Presidents and spoke at five Economic Summits. He guides companies through growth strategies, visioning, strategic planning, executive leadership development, Futurism and Big Picture issues which profoundly affect the business climate. He conducts company evaluations, creates the big ideas and anchors the enterprise to its next tier. The Business Tree™ is his trademarked approach to growing, strengthening and evolving business, while mastering change. To read Hank’s complete biography, click here.

StrategyDriven Communications Forum

Information flow is the lifeblood of every organization, whether passing verbally, electronically, or via hard copy. The clarity, accuracy, and conciseness of information passed as well as the quality of understanding by the intended receiver(s) determine, in part, the effectiveness of transference by the overall communications network. The fluidity of the system, formal and informal, composed of people, applications, hardware, and paper, serves as the remaining factor in the organization’s communications effectiveness.

While critically important to every organization’s success, variations between individual knowledge, experience, and motivation, creates differences in perception that makes all communications difficult. Similarly, differences between the organization’s computer applications and hardware systems employed challenge the smooth, unaltered passage of data and information.

Focus of the Communications Forum

Materials within the Communications Forum focus on those principles and best practices implemented at leading organizations to ensure consistent, fluid transfer of information between individuals. The following articles, podcasts, documents, and resources cover those topics critical to an exceptional internal and external organizational communications.

Articles

Principles

Best Practices

StrategyDriven Expert Contributor Articles

StrategyDriven Podcasts

StrategyDriven Podcast – Special Edition

The Dark Side of the Digital Revolution

Recently, The Los Angeles Times reported on cell phone use in Korea and revealed remarkable information about where our digital culture may be heading. They discovered Korean teenagers make up to 90 cell phone calls a day, and social scientists are now beginning to correlate high cell use with rising rates of depression. For some time, I’ve noticed that many young people value their digital life as much (if not more) than their real life. A friend of my daughter sent 3,500 text messages in a single month, (that’s more than 116 per day, and not unusual for today’s teens).

Add that to another recent study released by the Knight Ridder news service that Americans are reporting fewer and fewer close friends. In 1985, pollsters noted that the average person reported having three close friends, but today, it’s only two. And the number who say they have no one to discuss important matters with has doubled to one in four. The social implications are significant, from no friends to visit people in the hospital, weakened bonds during crisis, fewer watchdogs to deter neighborhood crime, and a lack of community.


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About the Author

Phil Cooke is a television producer and media consultant at Cooke Pictures in Burbank, California. His new book is ‘Jolt! Get the Jump on a World That’s Constantly Changing.‘. Find out more at philcooke.com.

The Exchange: Four Tips for Having Conflict-Busting Conversations in the Workplace

A long-time consultant is offended by something a new salesperson said on a conference call and is threatening to leave. And an employee in marketing is furious about being passed over for a promotion in favor of her coworker and is trying to discredit her. These are just a couple of examples of the workplace conflicts that take up 42 percent of the typical manager’s time. The trick to moving past these conflicts and on to increased productivity for everyone at your organization is knowing how to broach the topics in a way that leads to improved working relationships.

Disagreements, disputes, and honest differences are normal in any workplace. When these normal occurrences are treated as opportunities for exploring new ideas about projects, they can become catalysts for increased energy and productivity. Getting to that place starts with an honest discussion.

The following tips – excerpted from The Exchange – will teach you how to turn your next meeting with conflicting employees into a productive conversation.


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About the Authors

Steven P. Dinkin is president of NCRC. He received his law degree from George Washington University, where he taught a mediation clinic as an adjunct law professor. He has also taught mediation courses in the United States, Europe, and Latin America. For several years with the Center for Dispute Settlement in Washington, D.C., Steve served as an employment and workplace mediator for the Equal Employment Opportunity Commission and other federal agencies. In 2003, he moved to San Diego to lead NCRC. His experience managing a talented and opinionated staff has contributed to the realism of this book. To read Steven Dinkin’s complete biography, click here.

Barbara Filner was the director of training for NCRC from 1984-2010. She currently works as a consultant for NCRC. Barbara has a master’s degree in teaching from Indiana University and has worked as a teacher, a labor union official, and an analyst in local and state government. She has designed and conducted workshops on mediation and conflict resolution in the workplace in both the United States and Europe. She has lived in Pakistan, India, and Egypt, and thus brings a multicultural perspective to this book. She has also co-written two books about culture and conflict, Conflict Resolution Across Cultures and Mediation Across Cultures. To read Barbara Filner’s complete biography, click here.

Lisa Maxwell is currently the director of the training institute at NCRC. She has traveled all over the world as a trainer for NCRC for almost 20 years. Lisa has a master’s degree in education from San Diego State University and has developed curricula and taught courses at the high school and university levels. Mrs. Maxwell developed and is the lead trainer in The Exchange Training. Lisa has worked with businesses, with the military, and with nonprofit organizations on finding creative, effective ways to manage conflicts. To read Lisa Maxwell’s complete biography, click here.

To learn more about the NCRC, or to attend one of its upcoming training sessions, visit its Web site, www.ncrconline.com.