Posts

The Big Picture of Business – Ethics… Good for Business

/in /by

StrategyDriven Big Picture of Business ArticleIn order to succeed and thrive in modern society, all private and public sector entities must live by codes of ethics. In an era that encompasses mistrust of business, uncertainties about the economy and growing disillusionments within society’s structure, it is vital for every organization to determine, analyze, fine-tune and communicate their value systems.

Corporate Responsibility is more than just a statement that a committee whips together. It is more than a slogan or rehash of a Mission Statement. It is an ongoing dialog that companies have with themselves. It is important to teach business domestically and internationally that:

  1. We must understand how to use power and influence for positive change.
  2. How we meet corporate objectives is as important as the objectives themselves.
  3. Ethics and profits are not conflicting goals.
  4. Unethical dealings for short-term gain do not pay off in the long-run.
  5. Good judgment comes from experience, which, in turn comes from bad judgment.
  6. Business must be receptive–not combative–to differing opinions.
  7. Change is 90% beneficial. We must learn to benefit from change management, not to become victims of it.

Corporate Responsibility relates to every stage in the evolution of a business, leadership development, mentoring and creative ways of doing business. It is an understanding how and why any organization remains standing and growing…instead of continuing to look at micro-niche parts.

Integrity is personal and professional. It is about more than the contents of a financial report. It bespeaks to every aspect of the way in which we do business. Integrity requires consistency and the enlightened self-interest of doing a better job.

Financial statements by themselves cannot nor ever were intended to determine company value. The enlightened company must be structured, plan and benchmark according to all seven categories on my trademarked Business Tree™: core business, running the business, financial, people, business development, Body of Knowledge (interaction of each part to the other and to the whole) and The Big Picture (who the organization really is, where it is going and how it will successfully get there).

One need not fear business nor think ill of it because of the recent corporate scandals. One need not fear globalization and expansion of business because of economic recessions. It is during the downturns that strong, committed and ethical businesses renew their energies to move forward. The good apples polish their luster in such ways as to distance from the few bad apples.

Corporate Responsibility means operating a business in ways that meet or exceed the ethical, legal, commercial and public expectations that society has of business. This is a comprehensive set of strategies, methodologies, policies, practices and programs that are integrated throughout business operations, supported and rewarded by top management.

Corporate Sustainability aligns an organization’s products and services with stakeholder expectations, thereby adding economic, environmental and social value. This looks at how good companies become better.

Corporate Governance constitutes a balance between economic and social goals and between individual and community goals. The corporate governance framework is there to encourage the efficient use of resources and equally to require accountability for community stewardship of those resources.

As part of strategic planning, ethics helps the organization to adapt to rapid change, regulatory changes, mergers and global competition. It helps to manage relations with stakeholders. It enlightens partners and suppliers about a company’s own standards. It reassures other stakeholders as to the company’s intent.

About the Author

Hank MoorePower Stars to Light the Business Flame, by Hank Moore, encompasses a full-scope business perspective, invaluable for the corporate and small business markets. It is a compendium book, containing quotes and extrapolations into business culture, arranged in 76 business categories.

Hank’s latest book functions as a ‘PDR of business,’ a view of Big Picture strategies, methodologies and recommendations. This is a creative way of re-treading old knowledge to enable executives to master change rather than feel as they’re victims of it.

Power Stars to Light the Business Flame is now out in all three e-book formats: iTunes, Kindle, and Nook.

The Big Picture of Business – Wisdom From the Disasters, Recovery Through Compassion and Resilience

/in /by

StrategyDriven Entrepreneurship ArticleThe month of September saw natural disasters. In times of crisis, people came together to help each other.

Forces of nature: from disasters came citizens with noble hearts and a willingness to serve others. Young people sought to help, thus inspiring lifelong commitments to community stewardship. The beacons of light came from caring people, corporate contributors and a spirit of goodwill.

Wisdom from hurricanes and natural disasters: Bring your hearts and your hands. The worst disasters bring out the best in caring, compassionate people.

Hurricane storms do not redefine who communities are… they make communities stronger. Volunteers are the glue to resilient communities. In rebuilding after hurricanes, don’t just build the way it was. When there are tragedies, there will always be helpers. Heroism emerging from Harvey and Irma.

The more we do for others, the more we feel the “potlache” of giving to others. Natural disaster stages: Warning, hit, search and rescue, recovery, rebounding, analysis, flood prevention planning, learning from crisis, community development.

Commit to a program of volunteering. Heart warming scenes of neighbors helping each other in disaster spark the passion of citizens to contribute further. Ongoing community needs for volunteers are supplied by Volunteer Houston: http://www.volunteerhou.org. This is the central contact, as they work with hundreds of non-profit organizations in the greater Houston area, ascertaining needs and scheduling volunteers. Volunteer Houston gave me their Lifetime Achievement Award two years ago. To volunteer statewide in Texas, OneStar Foundation is the coordinating entity: http://onestarfoundation.org.

Houston Strong motivational campaign launched. It embodies resilience, rebounding from disaster, teamwork and volunteer spirit. Other memorable campaigns have included: Houston Proud, Texas Cares, Clutch City, H-Town, The City With No Limits, Houston’s Hot, Magnolia City, Bayou City, Energy Capitol, Space City, Texas Sesquicentennial, Texas State of Mind, Don’t Mess With Texas, Spirit of Texas. There were classic radio jingles: “My Home Town” and “Sounds of the City.” And there was “Houston Legends,” my seventh book, a comprehensive city history that inspired community forums, volunteer recognition and nostalgia.

George R. Brown would be so proud that the convention center bearing his name would temporarily house flood victims. He was a community leader and would be warmly greeting the citizens if he were here today. I knew Mr. Brown in the 1960s and 1970s, first as friends of President Lyndon B. Johnson, then later serving together on charity boards. His favorite accomplishments included the establishment of intercity educational and daycare programs. He was born in Belton, TX, joined the U.S. Marines in World War I and co-founded the construction firm Brown and Root. Pictured, GRB and brother Herman Brown. GRB and LBJ.

There are 23,000 non-profit organizations in the greater Houston area, in action to assist flood victims and citizens in need. Many other cities are sending rescue vehicles, supplies and volunteers. Kudos to friends and community supporters. Volunteers are always to be thanked for their service. In crises and other times, neighbors help each other.

In recovery from the disaster weather crisis, it is important to honor volunteers for their service. The more we do, the more we feel the “potlache” of giving to others.

Realities of giving and charity:

  • Ego charities benefit the organizers.
  • Celebrities often get duped into promoting causes.
  • Charitable involvement is not a game or contest.
  • Most companies give to communities.
  • Cause-related marketing is a good thing.
  • Some companies use “philanthropy” as a marketing scam.

Best advice to You, the Humanitarian:

  • Give generously.
  • Pick causes about which you are passionate.
  • Serve causes which serve many.
  • Your time is your most valuable commodity.

We’re a very giving society and want to make a difference. Companies making donations should be recognized. Human caring and hours of their volunteer service are what matters most. After the crisis, many unsung heroes render glorious service behind the scenes, where it matters.

Love and respect to the humanitarians.

About the Author

Hank MoorePower Stars to Light the Business Flame, by Hank Moore, encompasses a full-scope business perspective, invaluable for the corporate and small business markets. It is a compendium book, containing quotes and extrapolations into business culture, arranged in 76 business categories.

Hank’s latest book functions as a ‘PDR of business,’ a view of Big Picture strategies, methodologies and recommendations. This is a creative way of re-treading old knowledge to enable executives to master change rather than feel as they’re victims of it.

Power Stars to Light the Business Flame is now out in all three e-book formats: iTunes, Kindle, and Nook.

3 Ways of Taking Better Care of Your Team

/in /by

As a business owner, it’s up to you to make sure that your employees thrive. Without them, your business would certainly not be where it is today – and, unless you take proper care of them, you might see them move elsewhere.

They could end up with one of your competitors instead, for example, which ensures them the kind of success that you could have enjoyed.

That’s why the best of kind of business owners focus on taking care of what really matters: their human resources. Here is a handful of ways on how you can do exactly this and be a great leader and boss for your team.

StrategyDriven Talent Management Article
 
#1 Be available

Being a great boss means that you’re not going out of your way to stay above your employees. If you’d prefer not to be liked by your team, however, this is probably the best way to go. Well-liked leaders know that getting to know them and being friendly means that they’re going to feel a bit more appreciated and liked.

Plus, it’s a good rule-of-thumb, in any way, if you want to be liked as a person in general.

Although business owners and managers usually have a lot to do, it’s actually all about the little things. Being available doesn’t mean that you constantly have to attend to their needs and keep an open door; it just means that you should try to stop for a chat every now and then.

Besides, everybody knows that the best kind of ideas and the most insightful conversations happen around the coffee machine these days. Chat with your team, talk about what they’re up to, and take an interest in their personal lives as well – that way, you won’t just be a well-liked manager, you’ll also be the go-to person for gossip around the office.

#2 Encourage learning on the job

While some people join your team and think they already know everything there is to know, others are aware that they should try to continue to learn. These are the people you should pay a bit of extra attention to as they might be very valuable to your company.

First of all, they’re showing motivation and drive by wanting to learn more – and, secondly, the knowledge they soak up will help your company to thrive and prosper as well. It’s not always that easy for employees to know where to start, though, and even if they mention that they’d like to learn a bit more, they might not know how to do it.

This is where your great management skills come in. Give them the tools to learn and they will definitely grab the opportunity if they’re serious about furthering their knowledge.

StrategyDriven Talent Management Article
 
There are many ways to do this, though, and it all depends on what they need to learn. If you’re taking onboard new employees or launching a whole new branch, it could be a good idea to get in touch with a virtual reality studio so that they get an in-depth understand of what their new surroundings will be like.

This is an investment that will continue to benefit you, by the way, as you can use the virtual reality video to introduce every new employee on your team. That way, they’re going to be properly informed by the time they start working – and you save both time and money on having to train them.

Another benefit to this is that you might get better results from them, in the beginning, than you would have had without the video. When they are able to immerse themselves during the training and get a real understanding of what they’re up against, it suddenly won’t feel that overwhelming when they start the job.

On the other hand, you might have a seasoned employee who wants to become a better public speaker or a better leader for their department. Treat your team to a seminar on public speaking, for example, or send them off for a course – their increased knowledge will definitely benefit your company as well.

#3 Reward hard work

Some employers seem to forget that hard work should be rewarded. You don’t have to praise individual employees in front of the whole team, though, rather than treating your entire team to some rewards when they’ve worked well together.

Take them out for a lunch on the company, for example, give them a gift card to show your appreciation, or do something fun together as a team. The idea is that you want to build a team that is strong together while also making sure that their hard work is being noticed.

Teams that are rewarded together tend to stick together as well – and, that way, you won’t have to look for any replacements too often. Think about other ways you can make sure that you’re attending to their needs as well; flexible working hours is proven to boost both productivity and motivation so it should be just what your team needs.

By getting to know them properly and understanding their personal lives as well, you’ll be able to point out who needs these flexible working hours more than others. Working from home is a great way of showing them that you understand how important their lives outside of work is, and they will definitely appreciate you more for it.

Although all of the great things you do for your employees is to make sure that your business continues to prosper, the key to being a good boss is actually to be friendly and empathetic. It might not be your ideal version of a boss, but it is your employees’ ideal version – and, at the end of the day, that’s what really matters.

Do You Have The Right Leadership Qualities?

/in , /by

Are you planning to start a new business during the next few months? Would you like to make sure you have what it takes to succeed? Then take a minute or two to consider some of the information on this page and make sure you understand the most crucial leadership qualities you will require. If you don’t have them at the moment; now is the best time to improve your skills.

Communication skills

If you struggle to communicate with your employees or clients; you will never reach your full potential in the business world. Communication is vital, and you need to make sure you can explain your ideas and highlight concepts in a way that others grasp quickly.

Problem-solving skills

You are going to encounter many problems and stumbling blocks in the business world. Success lies in your ability to solve those issues and overcome anything that blocks your path. If you aren’t the best problem-solver right now; you need to work on that ability.

Project management skills

As an entrepreneur; it is vital that you plan working practices that ensure your employees become as productive as possible. Maybe you would benefit from taking a project management course or something similar before you push ahead?

Now you know about some of the most critical leadership qualifies for entrepreneurs; you can begin to improve your skills and make sure you get everything right with your new venture. Regardless of the nature of your business idea, the same rules will apply. Take a look at the infographic for more tips.


Design created by USC Online

The Big Picture of Business – Entrepreneurs’ Guideposts to Real Business Success

/in /by

StrategyDriven Entrepreneurship ArticleThere are many romantic notions about entrepreneurship. There are many misconceptions.

People hear about entrepreneurism and think it is for them. They may not do much research or may think there are pots of gold at the end of the rainbow. They talk to other entrepreneurs and learn that it all about perseverance and building sweat-equity in companies.

The wise entrepreneurs have mentors, compensated for their advice, tenured in consulting and wise beyond reproach. Advisers are important to fitting the entrepreneurs to the right niche. Mentors draw out transferrable talents to apply to the appropriate entrepreneurial situation.

The corporate mindset does not necessarily transfer to small business. Just because someone took early retirement is not a reason to go into a startup business. People who worked for other people do not necessarily transfer to the entrepreneurial mode.

Those who have captained teams tend to make better collaborators and members of others’ teams. Entrepreneur is as entrepreneur does

Make an equitable blend of ambition and desire: Fine-tuning one’s career is an admirable and necessary process. It is quite illuminating. Imagine going back to reflect upon all you were taught. Along the way, you reapply old knowledge, find some new nuggets and create your own philosophies.

We were taught to be our best and have strong ambition to succeed. Unfortunately, we were not taught the best methods of working with others in achieving desired goals. We became a society of highly ambitious achievers without the full roster of resources to facilitate steady success.

Every company must and should put its best face forward for the public. Public perceptions are called “credence goods” by economists. Every organization must educate outside publics about what they do and how they do it. This premise also holds true for each corporate operating unit and department. The whole of the business and each sub-set must always educate corporate opinion makers on how it functions and the skill with which the company operates.

Gaining confidence among stakeholders is crucial. Business relationships with customers, collaborators and other professionals are established to be long-term in duration. Each organization or should determine and craft its own corporate culture, character and personality, seeking to differentiate itself from others.

Every business, company or organization goes through cycles in its life. At any point, each program or business unit is in a different phase from others. The astute organization assesses the status of each program and orients its team members to meet constant changes and fluctuations.

I’ve talked with many entrepreneurs and founders of companies which rapidly grew from the seed of an idea they had. Most admitted enjoying the founding phase but lost interest shortly after giving birth. Over and over, they said, “When it stops being fun, I move on.”

After the initial honeymoon, you speak with them and hear rumblings like, “It isn’t supposed to be this hard. Whatever happened to the old days? I’m ready to move on. This seems too much like running a business. I’m an idea person, and all this administrative stuff is a waste of my time. I should move on to other new projects.”

When they come to me, they want the business to transition smoothly and still make the founders some money. They ask, “Are you the one who comes in here and makes this into a real business?” I reply, “No. After the caretakers come in and apply the wrong approaches to making something of your business, I’m the one who cleans up after them and starts the business over again.” The reality is that I’m even better on the front end, helping business owners avoid the costly pitfalls attached to their losing interest and abdicating to the wrong people.

Entrepreneurial companies enjoy the early stage of success…and wish things would stay as in the beginning. When “the fun ends,” the hard work begins. There are no fast-forward buttons or skipping steps inn developing an effective organization, just as there are no shortcuts in formulating a career and Body of Work.

Questions to ask entrepreneurs:

  1. Do you have goals for the next year in writing?
  2. Are the long-range strategic planning and budgeting processes integrated?
  3. Are planning activities consolidated into a written organizational plan?
  4. Do you have a written analysis of organizational strengths and weaknesses?
  5. Do you have a detailed, written analysis of your market area?
  6. Do detailed action plans support each major strategy?
  7. Is there a Big Picture?

About the Author

Hank MoorePower Stars to Light the Business Flame, by Hank Moore, encompasses a full-scope business perspective, invaluable for the corporate and small business markets. It is a compendium book, containing quotes and extrapolations into business culture, arranged in 76 business categories.

Hank’s latest book functions as a ‘PDR of business,’ a view of Big Picture strategies, methodologies and recommendations. This is a creative way of re-treading old knowledge to enable executives to master change rather than feel as they’re victims of it.

Power Stars to Light the Business Flame is now out in all three e-book formats: iTunes, Kindle, and Nook.