Stock Ownership


One of the best incentives a boss can offer is a fraction of the action in the form of performance-based monetary rewards, or, better yet, options to participate in a company stock ownership. One of Ross Perot’s greatest pleasures was to make some of his managers into multimillionaires through stock participation. They all repaid him with generated enthusiasm, renewed energy, and, ultimately, more corporate profits than any of them had ever imagined. Stock participation can be one of the best ways to transfer the spirit of entrepreneurship into any company. By spreading out the risk-reward net to include more of the staff, the good boss uses shared stress to encourage group excellence.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

 

Knowledge Expands Enthusiasm


An old truism tells us the more we know about something the more we don’t know. Each new discovery in medicine or engineering or physics raises more questions than it answers. Knowledge also increases enthusiasm.

The more we explore space, the deeper our cameras see, and the more we discover about the structure of matter, the greater is our enthusiasm to learn still more. Enthusiasm comes with knowledge. Most people are bored with the idea of collecting stamps until they know answers to questions such as who decides what image appears on a stamp and why, how many stamps are issued each year, what makes some stamps exceptionally valuable, who invented stamps, and why all stamps are not the same size.

Knowledge does supply motivation and enthusiasm to learn more. We take an important step toward developing enthusiasm when learning more about a person, a thing, or an idea. Ignorance inhibits enthusiasm; knowledge expands it.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

 

Factors Impacting Customer Loyalty


Many factors will affect the relationship between you and your customers. Following are some of the most common:

  • Adaptiveness: Taking measures to adapt your own personality style to that of your customers in order to communicate with and serve them effectively.
  • Communication: Getting and giving information, listening, writing and speaking effectively, and dealing with emotional situations.
  • Decisiveness: Being able and willing to make a decision and take necessary actions to fulfill customer needs.
  • Enthusiasm: Attaining and maintaining level of excitement about your customers, product, service, organization, and job that says, “I am happy to help you.”
  • Ethics: Establishing and maintaining high level, social, and moral standards in all interactions with customers.
  • Initiative; Acting on issues that relate to your job or customer service without having to receive instructions from others.
  • Knowledge: Taking time to learn about policies, procedures, resources, products, services, and other information that can help in providing total customer satisfaction.
  • Perceptiveness: Recognizing the need to play close attention to verbal and nonverbal clues, cultural factors, and the feelings or concerns of others.
  • Planning: Taking the time to logically think about customer needs and develop strategies for satisfying them before customer interactions occur.
  • Problem solving: Gathering and analyzing information in order to help resolve a variety of customer concerns or satisfy needs.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Primitive Organizations


Primitive organizations exhibit all the classic features of any start-up. Energy and anticipation are usually high and the right startup can almost run on pure adrenalin.

Primitive organizations naturally perform the things that other types of organizations have to work hard to achieve. Formal structure and communication is not yet necessary, as enthusiasm and team spirit can carry the organization along.

In the early stages most primitive organizations manage to operate under one working culture and build effective internal and external relationships. This state of affairs can’t last, however, as primitive organizations are naturally transient. When the initial honeymoon period passes, the culture of the organization will change of its own accord.

All that is up for debate is how much it will change, how fast it will change and whether that change will be managed or if nature will be allowed to take its own course.

As is the case with all organizations, primitive organizations face the choice of managing their culture from the word go, or leaving it to chance. Unfortunately too many organizations rely on the natural spirit associated with being a primitive startup and de-prioritize cultural investment, choosing to concentrate on what they see as operational necessities.

To a point this is understandable, but this attitude reflects some common misconceptions.

  • An organization’s honeymoon period or primitive stage can be incredibly short, which catches a lot of organizations out – and once the damage is done, it’s done. Remedial work is always harder and significantly more draining and time-consuming than positive effort.
  • Proactive cultural and relationship management right from the start can be achieved at minimal cost in terms of time and money, and will deliver benefit for years to come. It is worth remembering that managing a working culture does not mean over-engineering it: in fact, it should mean quite the opposite. Good practice from day one is what creates long-term amazing relationships and long-term success.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Decision-making in Crisis Situations


Corporate transformation often occur in situations of crisis. Classic studies of crisis decision making have highlighted the tendency to focus on the short term, and to concentrate upon fewer options, when the ‘going gets tough.’ There is a danger that a sense of balance and perspective might be lost just when it is most needed.

Members of board can experience a tension between the requirement to become more deeply involved in order to demonstrate commitment, and the desirability of maintaining a distance in order to preserve a degree of independence and objectivity. A corporate change program can increase this schizophrenic pressure upon the individual director.

In situations of crisis there is a tendency to cut out information and individuals who do not fit, and to concentrate power in the hands of a smaller group of people. This prospect can pose problems for directors who have genuinely reservations which they feel duly bound to express.

A chairman should think twice before ‘wielding the knife’. It is important to probe the reasons for hesitency. Enthusiasm could be the product of sycophancy, and caution the result of thought. Team players are not those who just go along without thinking. Some colleagues are cautious. They are not obstructive. They are realistic.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, Lectures, Line of Sight

Carrying out Sales Contests


Sales contests are short-term incentive programs designed to motivate sales personnel to accomplish specific sales objectives. Although contests should not be considered part of the firm’s ongoing compensation plan, they offer sales people the opportunity to gain financial, as well as nonfinancial, rewards. Contest winners often receive prizes in cash or merchandise or travel. Winners also receive nonfinancial rewards in the form of recognition and a sense of accomplishment.

Successful contests require the following:

  • Clearly defined, specific objectives.
  • An exciting theme.
  • Reasonable probability of rewards for all salespeople.
  • Attractive rewards.
  • Promotion and follow-through.

Because contests supplement the firm’s compensation program and are designed to motivate extra effort toward some short-term goal, their objectives should be very specific and clearly defined.

The time in which the contest’s objectives are to be achieved should be relatively short. This ensures the salespeople will maintain their enthusiasm and effort throughout the contest. But the contest should be long enough to allow all members of the sales force to cover their territories at least once and to have a reasonable chance of generating the performance necessary to win. Therefore, the median duration of sales contests is three months.

A sales contest should have an exciting theme to help build enthusiasm among the participants and promote the event. The theme should also be designed to stress the contest’s objectives and appeal to all participants.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, Line of Sight

Balancing Positive and Negative Motivational Considerations


If a strategy implementer’s motivational approach and reward structure includes too much stress, internal competitiveness, and job insecurity, the results can be counterproductive. The prevailing view is that manager’s push for strategy implementation should be more positive than negative because when cooperation is positively enlisted and rewarded, rather than strong-armed by a boss’s orders, people tend to respond with more enthusiasm, effort, creativity, and initiative. Yet it is unwise to completely eliminate pressure for performance and the anxiety it evokes. There is no evidence that a no-pressure work environment leads to superior strategy execution or sustained high performance. There is a deliberate policy to create a level of anxiety. Winners usually play like they’re one touchdown behind. High performing organizations need ambitious people who relish the opportunity to climb the ladder of success, love a challenge, thrive in a performance-oriented environment, and find some competition and pressure useful to satisfy their own drives for personal recognition, accomplishment, and self satisfaction. Unless compensation, career, and job satisfaction consequences are tied to successfully implementing strategic initiatives and hitting strategic performance targets, few people will attach much significance to the company’s vision, objectives, and strategy.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, Line of Sight

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