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  • Class of 2013: Master These 15 Simple Skills

    Class of 2013: Master These 15 Simple Skills from Dave Kerpen Which of the 15 skills do you think are the most important to master? Which ones have you mastered? Which ones would you like to master?
  • Human Skills Needed by Managers

    An occupation group in the Bureau of Labor Statistics Occupational Outlook Handbook is management. There are many management occupations, but all managers need technical, conceptual, and human skills. Have you already developed the human skills to be a manager? Score yourself on each of these 10 human skills using the following rating scale. Never - 1 Seldom - 3 Often - 5 Regularly - 10 I challenge employees to set objectives. I coach employees to resolve performance issues. I encourage employees to contribute new ideas. I take an interest in my employees' personal lives. I delegate fairly. I communicate my goals clearly. I resolve conflicts in a productive way. I behave as a professional. I inspire my employees to do their best work. I am a good listener. What is your score. (The top score is 100.) Prioritize the areas you need to develop. Which area will you develop first? Once that goal is achieved, what is the next area you need to develop?
  • Bad Managers Top the List of Employee Complaints

    Courtesy of: ej4 Do you agree? What is your top employee complaint?
  • J. C. Penney CEO Ron Johnson Resigns Under Pressure

    When J. C. Penny (JCP) hired Ron Johnson as Chief Executive in June 2011, he was known as a retailing genius. Johnson was Apple's senior vice president of retail before joining J. C. Penney. He wanted to make JCP America's favorite store by offering everyday low prices and shops within a store - a collection of 100 branded shops and specialty boutiques within the store. Sephora and MNG by Mango were successful when he was hired. In an interview with Harvard Business Review , Johnson said, "In retailing, you've got to trust your intuition much more than you trust the data. You can't follow the customer. You've got to lead your customers . . . even before they know what they want." Picture from Wall Street Journal http://blogs.wsj.com/deals/2013/04/08/will-ron-johnson-be-apples-prodigal-retail-genius/ The strategy was implemented without testing. Coupons and regular sales were eliminated. Loyal, discount-minded customers left and shopped elsewhere. Sales continued to decline. Employees lost their jobs. Ron Johnson resigned April 8, 2013. Have you shopped at an Apple store? Why? Have you shopped at J. C. Penney? Why? What is the difference between Apple and JCP? Why wasn't Ron Johnson able to turnaround J.C. Penney?
  • What U.S. Employees Really Think About Today’s Workplace

    Root Inc., a strategy execution consulting company, shared the results of a survey conducted by Kelton titled “ America’s Workforce: A Revealing Account of What U.S. Employees Really Think About Today’s Workplace .” The America’s Workforce study found: • Employees feel discouraged: More than half (54%) of employees have felt frustrated about work. • Manager/employee relationships need improvement: Only 38% strongly agree that their manager has established an effective working relationship with them. • People don’t understand strategic direction: 40% say they don’t get the company’s vision or have never seen it. • Innovation is being stymied: Nearly 67% of American workers can name at least one thing that would prevent them from taking any kind of risk at work. • Big picture contributions missing: Only 43% of workers say they feel accountable for the company’s revenue, profit, or growth. • Not leading by example: Just 26% of workers strongly agree that managers embody the values they expect from their employees, only 39% say their manager understands his/her role at the company, and 40% strongly feel their managers understand their company’s strategy or goals. • Collaboration across teams is tough: Just 27% strongly feel they can depend on outsiders to fulfill their duties when working with other groups. • Training isn’t relevant: 26% report they don’t have any training available to them right now, and the 62% who do have training available believe it is either somewhat or not at all applicable to their jobs. The study also revealed some positive news and opportunities for companies to capitalize on: • Finding the bright spots: 56% feel their company is better at identifying what works well instead of fixing processes that are not working. • Training can make a difference: Workers with training available to them recently have felt committed (48% vs. 39%), happy (45% vs. 37%), and excited (30% vs. 14%) about work. • Glimmers of hope: 43% of workers said they felt happy about work at some point in the last month. In this video, Root's President, Rich Berens, discusses why this report is important to managers. What can managers do to improve their relationships with employees?
  • Always See the Internet with Google Glass

    Yesterday, Google began accepting applications for "bold, creative individuals" to try Google Glass, eye glasses connected to the Internet through Wi-Fi or Bluetooth on the user's phone. (It appears that the glasses would replace the user's smartphone. Users can record video, translate speech, send messages, participate in Google+ Hangouts, and get directions.) Applicants post in 50 words or less what they'd do with the glasses on Google Plus or Twitter. The post must contain the hashtag #ifihadglass. Those chosen must pay $1,500 and pick up the glasses at a special event in New York, San Francisco or Los Angeles. How could managers and work teams use wearable technology like Google Glass? How useful could wearable technology be for work teams?
  • Social Media Strategy

    A study, What do Corporate Directors and Senior Managers Know About Social Media , was conducted in April 2012 by the Conference Board and the Rock Center for Corporate Governance at Stanford University . The results were published last October. The study found that CEOs are regular users of social media both for personal and professional use. They actively use Twitter. But, they passively use social media, such as blogs, videos, and discussions. In other words, CEOs read blogs, watch videos, read discussion boards and rating sites. Companies appear to be relatively unsophisticated when it comes to formally gathering data from social media and incorporating them into corporate strategy, operational plans, and risk management. Directors and executives do not request this information nor rely on it for decision making. However, those who do rely on this information find it useful in pursuing corporate objectives. The findings suggest considerable opportunity for companies that develop a reliable infrastructure for capturing data from social media and distilling them into an actionable, usable form for corporate decision makers. The authors of the report recommend companies engage in the steps below. Assess your current capabilities Determine how social media fits with your strategy and business model Map your company's KPIs and risk factors to information available through social media Implement a "listening" system to capture social media data and transform it into metrics Develop formal policies and guidelines for employees, executives, and directors Consider the legal and behavioral ramifications Read the attached report. Should managers actively engage in social media? Explain. Is a company doomed if it does not use social media? Explain.
  • Lynsi Torres, In-N-Out Burger Owner, is Youngest Female Billionaire

    America's youngest female billionnaire is Lisa Torres, heir to In-N-Out Burger . In this video, Sheila Dharmarajan reports on In-N-Out Burger restaurant's 30-year-old owner Lynsi Torres and the possibility she will maintain ownership after gaining full control of the franchise in five years. (Source: Bloomberg) Dharmarajan says there isn't a picture of Torres, but the Huffington Po st lists a picture of her onlline. Harry and Esther Snyder founded In-N-Out Burger in 1948 as a single drive-through hamburger stand in Balwin Park, California. They are the grandparents of Torres. She doesn't have a college degree or formal training in management, but she is the chain's owner and president. Today, In-N-Out Burger is worth over a billion dollars, according to the Bloomberg Billionaires Index .. Bloomberg explains the business. It doesn't franchise to outsiders so that it can maintain quality control. The menu is simple. "Butchers carve fresh beef chuck delivered daily to the company’s distribution facility in Baldwin Park, where hamburger patties leave for restaurants on 18-wheeled refrigerated trucks outfitted with over-sized tires so the In-N-Out logo can be better seen on the highway. The company only expands as far as its trucks can travel in a day, either from the Baldwin Park complex or a newer facility in Dallas, the only two places where the company makes hamburger patties." In-N-Out Burgers consistently rate as one of the best burgers. Do some more research on the company. What innovations and/or management decisions have led to its cult-like following?
  • No Excuses

    Most people won't become an entrepreneur or even a manager because of their fear of failure. But, everyone has self-doubt - even successful entrepreneurs and managers. If you have ever struggled to accomplish a goal, Kyle Maynard's story will encourage you. Most of the problems you have faced do not come anywhere near the problems he has faced. Watching this video and reading his book, No Excuses , will inspire you. Kyle faces challenges without "excuses." What goal have you been putting off because of self-doubt? How has Kyle's story motivated you to want to accomplish the goal?
  • Management Pays

    The Census Bureau’s Pathways After a Bachelor’s Degree looks at 13 different bachelor’s degree majors. For each major, you can see the estimated work-life earnings at each level of education. Below is the infographic for business. Those in management were more likely to be employed full time, year-round. People working in business earn more than the average of $2.4 million earned in a work-life. Also, people who major in business earn more than average. How important is what you choose to study in college? How important is the the career you choose after college?
  • Stay Safe Online This Holiday Season

    This holiday season, more people than ever before will shop online using their smart phones, tablets, and computers. In this video, John Stewart , Chief Security Officer at Cisco shares the information people need to stay safe online this holiday shopping season. He says, "Nearly half of all shoppers in the United States will find gifts online this holiday season and while this trend is convenient, it opens the door to major security threats." What concerns do you have about shopping online? Were your questions answered?
  • Lego Relationship with Customer Goes Viral

    The unit of value in business today is relationships. Clearly, managers have an incentive to keep existing customers satisfied. The key to successful customer retention is superior customer satisfaction. Organizations have determined that even the loss of a sale in the short run may mean greater profits in a long-term relationship. Such a focus on satisfying customer needs helps build the trust that can result in a mutually beneficial and satisfying long-term relationship. Lego is a company that understands the importance of satisfying customers. This video was uploaded by the parents of eleven year-old James Groccia as they captured his reaction to receiving a Lego Emerald Night Train set. James had saved money to buy the set for two years. Then, he found that it had been discontinued and wrote a letter to Lego. A few days before his birthday, he received the train set from Lego. His parents titled the video, "Why Lego is the Best Company in the World." Lego did not receive money for this product. How might the loss of this sale mean greater profits in the long-run?
  • Top Executives

    The Bureau of Labor Statistics (BLS) publishes the Occupational Outlook Handbook (OOH) which provides information on what workers do; working conditions; education, training, and other qualifications; pay; job outlook; similar occupations; and sources of additional information, for 341 occupational profiles covering 85 percent of the jobs in the economy. One of the occupation groups in the OOH is management . One of the management occupations is top executive . They devise strategies and policies to ensure that an organization meets its goals by planning, directing, and coordinating operational activities of companies and public or private-sector organizations. Most top executives have at least a bachelor's degree and many have a master's degree in business administration. They have relevant work experience and have been promoted from lower level management positions. The median pay in 2010 was $101,250. BLS lists important skills needed by top executives. They are listed below. Communication skills. Top executives must be able to communicate clearly and persuasively. They must effectively discuss issues and negotiate with others, direct subordinates, and explain their policies and decisions to those within and outside the organization. Decision-making skills. Top executives need decision-making skills when setting policies and managing an organization. They must assess different options and choose the best course of action, often daily. Leadership skills. Top executives must be able to lead a successful organization by coordinating policies, people, and resources. Management skills. Top executives must organize and direct the operations of an organization. For example, they must manage business plans, employees, and budgets. Problem-solving skills. Top executives need problem-solving skills after identifying issues within an organization. They must be able to recognize shortcomings and effectively carry out solutions. Time-management skills. Top executives must be able to do many tasks at the same time, typically under their own direction, to ensure that their work gets done and that they meet their goals. "Bureau of Labor Statistics, U.S. Department of Labor, 2012-2013 Occupational Outlook Handbook , [September 30, 2012 accessed] [ http://www.bls.gov/ooh/ ]" Look at the other management occupations at http://www.bls.gov/ooh/management/home.htm . Which one interests you? What did you find interesting about the position?
  • JCP CEO wants input from customers

    Yesterday, I received the email below from J.C. Penney CEO Ron Johnson. It was a letter to Penney's customers giving them information about the company and asking them for their ideas and opinions. A link in the email makes it easy for customers to reply. Johnson joined Penney from Apple last November, and added marketing to his CEO responsibilities in June. Since he joined the company, Penney's sales have declined. Will this new attempt be effective in increasing sales? Explain.
  • Management in 10 Words

    Terry Leahy , CEO of Tesco for 14 years, was voted "Britain's Most Admired leader" by Management Today for five years in a row. Tesco, one of the world's three largest retailers, is a multinational supermarket chain headquartered in the United Kingdom. Leahy offers the following ten words in his book, MANAGEMENT In 10 Words published by Random House Business Books 2012. TRUTH: "Organisations are terrible at confronting the truth. It is so much easier to define your version of reality, and judge success and failure according to that. But my experience is that truth is crucial both to create and to sustain success." LOYALTY: "Winning and retaining loyalty is the best objective any business - indeed, any organisation - can have. The search for loyalty has, at its heart, an age-old idea: you reward the behaviour you seek from others." COURAGE: "Good strategies need to be bold and daring. People need to be stretched as they can do more than they think. Goals have to cause excitement, and perhaps just a little fear. Above all, they need to inspire, and present an organisation with a choice: have these great ambitions, or remain as you are." VALUES: "Strong values underpin successful businesses. They give managers a sheet anchor, something that holds their position and keeps them from being smashed against the rocks when caught in a storm. Values govern how a business behaves, what it sees as important, what it does when faced with a problem." ACT: "Intention is never enough. Plans mean nothing if they are not effectively enacted." BALANCE: "A balanced organisation is one in which everyone moves forward together, steered in the right direction, without being overrun by the juggernaut of bureaucracy." SIMPLE: "Change in any fast-moving, fast-growing company is not easy. My solution is quite simple: to make things simple. Simplicity is the knife that cuts through the tangled spaghetti of life's problems. LEAN: "Sustainable consumption depends on desiring goods and services that use fewer natural resources. By thinking lean, we can go green - and do more, for less." COMPETE: "Competitors - and the act of competition itself - are great teachers. Don't wait for your competitors to come over the horizon. Seek them out." TRUST: "Trust is the bedrock of leadership. When people trust you, they feel that their interests are safe in your hands, and they have confidence in your vision, ability, judgement, drive and determination to see things through." Which word do you think is most important for managers? Why?