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Business Management Information
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Innovation Management ? IBM Opens Lid On Its Treasure Chest IBM, which registered 3248 patents last year, has decided that sharing technology can sometimes be more profitable than jealously guarding its property rights on patents, copyrights and trade secrets (Herald Tribune, April 11 2005). Invoice Factoring for Goverment Vendors Assignment of Claims Act of 1986"....What does this mean for you? How Businesses Can Stop Wallowing in Bad Debt and Prevent It in the Future "Become the Squeaky Wheel", a new book just published, explains that getting customers involves more than advertising. Michelle Dunn presents examples of credit procedures and policies to help creditors or business owners collect bad debt and prevent it in the future. Juggling Demands in an Organization JUGGLING DEMANDS: All leaders constantly juggle a multifarious array of demands from those of their organization, employees, and themselves. Good leaders, never drop one demand at the expense of another equally important requirement. They give each demand its fair share, while balancing the organizational goals with their employees' needs, while still fulfilling their own personal/professional purposes. Successful leaders meet both these business and personal needs through their staff. They learn about their staff's aspirations, their strengths and potential contributions to the organization. From this knowledge, they mesh together a successful working team. Sounds easy, doesn't it? For starters, it becomes much easier if you know your organization. Once Upon a Conflict Once upon a time there lived an innocent, hardworking manager. One day he dared to wander from the safety of his open-concept office to speak out at a team meeting. He was immediately challenged, nay attacked, by another team member and his senior manager, embarrassing him in front of his peers. Plagued by downsizing, this noble manager feared for his job. A senior human resource professional saved the day through mediation. From that day forward, the manager carried that scar and never trusted anyone enough to speak out again. Take the Easy Route - Delegate It was 2.30 am. It was cold and dark and I'd been in bed for just a half hour when the phone rang. Turnover is Not a Problem "Ha!" you say. "For someone to make a statement like that, they obviously haven't worked in the real world and certainly have never had to run a company." Well, let me assure you. In my past I've not only run companies, but spent many years in one of the most notorious industries for turnover ? the restaurant industry. Innovation Management ? the power of decision makers Creativity can be defined as problem identification and idea generation whilst innovation can be defined as idea selection, development and commercialisation. Jewelry Use by Employees Many companies have dress codes, which include jewelry. Some companies do this because they do not wish to offend customers who are of various faiths by employees who wear necklaces with religious symbols. Others out of practicality as some jewelry can get caught in machinery and cause severe injury or even death. You may wish to have a jewelry policy to prevent loss of your customer base and/or prevent employees from dying, which could inadvertently drive up your commercial insurance costs. Focus on Outcomes to Keep Your Business On-Course Did you know that an airplane in flight is off course nearly 98% of the time? No flight is completed in a straight line from Point A to Point B. Gravity, side winds, updrafts, and downdrafts are continually moving the plane off course. And yet, the majority of flights arrive at their planned destinations safely and on time. How do airline pilots make this happen? They continually keep the outcome or result in mind, say departing from Los Angeles and arriving in Honolulu. Pilots constantly make corrections to compensate for outside forces affecting the plane and use a proven set of process steps to keep everything on course. Innovation Management ? Rigorous data analysis Creativity can be defined as problem identification and idea generation whilst innovation can be defined as idea selection, development and commercialisation. Leadership Style: What Makes A Good Boss? In today's competitive environment, companies realize that a good boss is one who can identify and build on the talents of the staff and knows how to retain top performing employees. Take this quiz and see if you are a good boss. Truth or Consequences: How to Give Employee Feedback In the bestseller, Good to Great, Jim Collins discovered that, "the good-to-great companies continually refined the path to greatness with the brutal facts of reality." The Role of the Machine Metaphor in Mixed-initiative Organizational Leadership "Can This Marriage be Saved?" So reads the title of the cover story in the August 15, 2005 issue of BusinessWeek (www.businessweek.com). The article describes the seven-year (1998-2005) story of the merger of Daimler and Chrysler Corporation. As of this writing, the board of the merged companies decided to terminate the reign of the current chairman, Jürgen Schrempp. At the end of this year he will be replaced with Dieter Zetsche, the current head of the company's operations in North America. The article identifies the following five critical challenges facing the new chairman: Turnaround or Terminate? How to Deal with Problem Employees Do you struggle with a "problem" employee? If so, join the crowd! Many of my coaching clients - businesses owners or managers - tear their hair out over one or more toxic employees. In our business environment, we tend to recreate the dynamics of the family we grew up, so no wonder problems develop. Protect Your Organizations Proprietary Information The other day one of our overseas clients called in a state of near panic, to ask a question. At issue was whether they had unwittingly violated U.S. law by transferring technical information to a joint venture partner in a European country. After hearing a two minute description, I was able to answer a resounding "Yes"! Such are the dangers of operating in a global environment. The worst part is that my client had been lead into their misdeed by following the well intentioned advice of a Fortune 100 U.S. corporation. One that certainly should have known better, but obviously does not. The potential penalties for such errors are daunting and ignorance of the law is not a defense. For a mere administrative ("civil") infraction, the penalty is up to $100,000 per occurrence. For intentional misdeeds, which are accorded criminal penalties, well, let's not even go there. Allan Kempert Discovers That Truly All You Gotta Do Is Ask A year or so ago, I met Allan Kempert. Allan was the Quality Assurance Supervisor for a metal stamping company in Ontario, and just completed Norman Bodek's book, The Idea Generator, Quick and Easy Kaizen. As Allan explains, he couldn't put the book down because it was such a simple approach and he knew that it was going to empower the employees at his place of employment. In fact, Allan had tears in his eyes a few times while reading the book because he realized that he had come across a jewel. He spoke to the people in his department and explained how the program worked. He convinced them that it would be beneficial to the company to start a pilot program within their department. How To Get What You Really Want As a small business owner, entrepreneur or independent professional, it's important to make plans. It's also important to have the time to let things happen. Only you can decide what is to happen in your life. Here is a method that may work for you. You have nothing to lose. The Power of ?Ask? For Call Center managers, it is not a pipe dream to improve employee moral while increasing productivity. It may even come easy to some to find fresh, new ways to reduce performance problems. Sound like an advertisement for something unattainable? Perhaps try to engage, involve, and connect employees to their work by the power of ASK. The Inferno of the Finance Director Sometimes, I harbour a suspicion that Dante was a Financial Director. His famous work, "The Inferno", is such an accurate description of the job that it cannot be otherwise. He is fervently hated by the workers. He is thoroughly despised by the other managers ("mean bastard" is his common nickname among them, mostly for scrutinizing their expense accounts). He is dreaded by the owners of the firm because the powers that he has often outweigh theirs. Shareholders hold him responsible in annual meetings. When the financial results are good ? they are attributed to the talented General Manager. When they are bad ? the Financial Director gets blamed for not enforcing budgetary discipline. It is a no-win, thankless job. Very few make it to the top and the rest retire, eroded and embittered.
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