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An ineffective manager can cost the organisation $1 million! |
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The difference to the bottom line in monetary terms between a new manager with extremely poor performance and his or her counterpart who performs at an outstanding level, can be as much as £50,000 (almost $100,000).
This difference can increase to a staggering £1/2 million for a middle manager (as reported by Professor Nikos Bozionelos of the Durham Business School in Management Issues, Sept 07)
Do organisations realise this?
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Read more... [An ineffective manager can cost the organisation $1 million!]
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The recession we find ourselves in now was inevitable and it has been brewing for the last 15 years. Why? Because investing has been replaced by short-term trading and the interests of shareholders and staff have been placed above those of other stakeholders.
Actually, it probably started a little earlier than 15 years ago. In 1974 the US Securities and Exchange Commission introduced deregulation of brokerage commission costs. Prior to this, it would cost a broker or trader approximately $1 commission per traded share. Today that figure is somewhat like $0.01 per share. So one can readily see that trading in shares today is a far less expensive way to bolster ones finances than it was all those years ago.
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Read more... [15 years in the making!]
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Just how important are first impressions? |
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Before they stepped into their private jets to fly to Washington and beg for billions from the public purse, perhaps the CEOs of Ford, GM and Chrysler should have realised that first impressions matter.
Stung by the response to the three automotive CEOs flying in and out of Washington in their private jets, the CEOs are making different plans for their visit back to Washington this week.
All three CEOs are driving to Washington in fuel-efficient hybrid cars. All have announced plans to sell their corporate aircraft. And Ford and GM plan to pay their CEO $1 per year if their companies take any government money.
What do you make of this? What's your reaction?
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Read more... [Just how important are first impressions?]
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Can too much success lead to failure? |
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There is a strange phenomenon occurring at the moment. The most successful companies, which are used to having the most money and more opportunities, may very well be the ones which need to make the most radical changes in their thinking in order to weather this current storm.
As a colleague in one such successful company reported, "Whenever we get to a decision point where we have to choose between investing in one project or another in the past we have tended to find a way to choose both by expanding the budget a bit. We have also had the strategy to compete in every market or segment, at every price point, for every sales channel. This means that the typical leadership decision making model has been ‘find a way to do it all'. We try to do everything and some of it works."
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Read more... [Can too much success lead to failure?]
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Are you controlling the recession, or is it controlling you? |
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When the going gets tough, we can either say "Well, that's life, I can't do much about it". Or, we can say "Things are tough, but I can win through".
It all depends on how we view the world.
Studies have shown that we are either positive or negative based on what's known as our "locus of control". Locus of control refers to a person's belief about what causes the good or bad results in his or her life, either in general or in a specific area such as health or business. It can either be internal (meaning the person believes that they control them self and their life), or external (meaning they believe that their environment, some higher power, or other people control their decisions and their life).
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Read more... [Are you controlling the recession, or is it controlling you?]
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