Greed


Technically, greed is not one of the seven cardinal (deadly) sins, avarice is. Greed is an excessive desire to get or have, as wealth or power, beyond what one needs or deserves. There is no mechanism , or even rationale, for deciding what  one needs  or deserves  or what is excessive.

Pride is the first of the seven cardinal sins, but we are encouraged to be proud of country, school, family, employer, and other institutions. The issue is not pride but the form that pride takes. This applies to wanting more than one has, what some people call greed. It depends on how the greed affects behavior. Greed is not bad. Immoral and unethical behavior is bad.

Greed means the desire to have more than one has. This trait leads, through the invisible hand, to competition. Greed causes us to want more in a free, competitive society we have to work harder and smarter. This increases human welfare by providing more and better marketing mixes (product, price, distribution, and promotion). It is the marketing mix that satisfies the buyer’s wants and needs. Competition keeps greed in check except when we act immorally. In business competition, unlike sports, there can be more than one winner.

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.

Monopoly Regulation


Monopoly is usually considered to lead to economic inefficiency. Excessive monopoly profits are commonly regarded as unfair to consumers. Policies for dealing with monopoly range from laissez faire or toleration at one extreme to “trust-busting” at the other. Another possibility is to put monopolistic enterprises under government ownership, as is commonly done in Europe for railroads and telephone service. Regulation of the monopoly’s price and quantity or quality of service by a government agency is important. In the US regulation is standard practice for privately owned ‘public utilities’ providing goods and services such as electric power, water and gas, telephone, and transportation—usually thought to be natural monopolies.

The standard philosophy of regulation aims at limiting the monopolist to a ‘normal profit.’ Normal profit is supposed to be just adequate to attract needed capital and other resources into the business, but not so high as to represent exploitation of consumers. Normal profit in the accounting sense corresponds to zero economic profit. Zero economic profit characterizes long-run equilibrium in perfect competition. In a sense regulation achieves the result that may occur if competition is possible.

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.

Overproduction


Overproduction is regarded as the most serious waste as it discourages a smooth flow of goods or services and is likely to  inhibit  quality and productivity. Such overproduction also tends to lead to excessive lead and storage times. As a result defects may not be detected early, products may deteriorate and artificial pressures on work rate may be generated. In addition, overproduction leads to excessive work-in-progress stocks which result in the  physical dislocation of operations with consequent poorer communication. This state of affairs is often encouraged by bonus systems that encourage the push of unwanted goods. The pull or Kanban system was employed by Toyota as a way of overcoming this problem.

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.

Principals for Defining Privacy Policy


Companies wishing to enact an internal privacy policy or code should consider as a starting point the three concepts that help define information privacy: data collection, data accuracy, and data confidentiality.

Data Collection: the following principles should be adhered to:

  • Data should be collected on individuals only to accomplish a legitimate business objective.
  • Data should be adequate, relevant, and not excessive in relation to the business objective.
  • Data should be obtained in a lawful manner.
  • Individuals must give their consent before data pertaining to them can be gathered. Such consent may be implied from the individual’s actions (e.g., when they apply for credit, insurance, or employment).

Data accuracy: to ensure that misleading information will not be distributed, the following principles apply:

  • Sensitive data gathered on individuals should be verified before it is entered in database.
  • Data should be accurate and, when necessary, kept up to date.
  • The file should be made available so the individual can ensure that the data is correct.
  • If there is disagreement about the accuracy of the data, the individual’s version should be noted and included in any disclosures of the file.

Data Confidentiality: the privacy policy should ensure confidentiality as follows:

  • Computer security procedures should be implemented to provide reasonable assurance against the unauthorized disclosure of data. These procedures should include physical, technical, and administrative security measures.
  • Third parties should not be given access to data without the individual’s knowledge or permission, except as required by law.
  • Disclosures of data, other than the most routine, should be noted and maintained for as long as the data is maintained.
  • Data should not be disclosed for reasons incompatible with the business objective for which it was collected.

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.

What Strategic Planning is not?


Clearly, strategic planning is no panacea. Strategic planning is simply a set of concepts, procedures, and tools designed to help leaders, managers, and planners think and act strategically. Used in wise and skillful ways by a “coalition of the willing,” strategic planning can help organizations focus on producing effective decisions and actions that further the organization’s mission, meet in mandates, and satisfy key stakeholders. But strategic planning is not a substitute for strategic thinking and acting. Only caring and committed people can do that. And when used thoughtlessly, strategic planning can actually drive out precisely the kind of strategic thought and action it is supposed to promote.

Furthermore, strategic planning is not a substitute for leadership. There is simply no substitute for leadership when it comes to using strategic planning to enhance organizational performance. At least some key decision makers and process champions must be committed to the strategic planning process, or any attempts to use it are bound to fail.

In addition, strategic planning is not synonymous with creating an organizational strategy. Organizational strategies have numerous sources, both planned and unplanned. Strategic planning is likely to result in statement of organizational intentions, but what is realized in practice will be some combination of what is intended and what emerges along the way. Strategic planning can help organizations develop and implement effective strategies, but they should also remain open to unforeseen opportunities. Too much attention to strategic planning and excessive reverence for strategic plans can build organizations to other unplanned and unexpected—yet incredibly useful—sources of information, insight, and action.

The discipline necessary for strategic planning can be of two sorts. The first harkens back to Latin root of the word “discipline,” emphasizing instruction, training, education, and learning. The second embodies later interpretations of the word, emphasizing order, control, and punishment. Emphasis should be placed on education and learning, although there clearly are occasions when imposing order, taking control, and enforcing appropriate sanctions are appropriate. Certainly, key leaders, managers, and planners can best use strategic planning as an educational and learning tool, to help them figure out what is really important and what should be done about it. Sometimes this means following a particular sequence of steps and preparing formal strategic plans, but not necessarily. The ultimate goal of strategic planning should not be a rigid adherence to a particular process or an instance on the production of plans. Instead, strategic planning should promote wise strategic thought and action on behalf of an organization and its key stakeholders. What steps to follow, in what sequence, and whether or not to prepare formal plans are subsidiary concerns.

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.

Psychological Safety


Complex change can create anxiety and stress. If employees do not experience psychological safety in such a scenario, they would become excessively preoccupied with maintaining their sense of competence. The task may be large, employees feel empowered. They have the decision-making authority; they can question old habits and beliefs and even challenge powerful departments. People feel themselves to be in control of their own and their organizations’ destiny. All these factors enhance psychological safety and enhance their levels of hope and optimism.

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

Erosion Measures


Erosion measures refer to natural remnants of some individual’s or group’s activity that has selectively worn down certain objects. For example, if you are working in a nursing home, you might determine what the most popular activity in that home is by observing where the rugs are most worn. It might be in front of the television set or in front of the windows where people spend time looking out at the street. This could give you a possible measure for evaluating changes in the group’s activities.

 Other erosion measures might include decay and breakage. Active or aggressive physical activity can be inferred from the number of broken items (for example, windows) in a school or ward. The frequency of repair, replacement, or cleaning of certain objects in a setting may be used as an indicator of frequency of usage.

 When using erosion measures be sure that unrelated factors are not the reasons for observed changes. For example, a new junior’s zeal in cleaning may be responsible for changes in the patterns of use as detected by wear and tear on the floor. Similarly, it would help to know the amount of ordinary wear and tear on objects so that any excessive erosion or wear and tear can be related to target behaviors with more assurance.

 The second category of physical traces is accretion measures. These are objects deposited by clients in a given setting or the ordinary debris left by client interaction with or consumption of material. Thus, many of the behavior produces described earlier could be considered as accretion measures. Accretion measures also often focus on analysis of remains or even rubbish.

 Reliability and validity concerns are as important when using physical traces as they are with other measures, and these concerns are especially important when physical traces are being used to make inferences about behaviors.

 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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