Core Values


The professional and the institution for which the professional works should compile a relatively brief list of core values. These are values that help determine what the priorities are and how one aspires to act. Ten core ethical values are described:

  1. Honesty (truth telling, candid, openness)
  2. Integrity (act on convictions, courageous, advocacy, leadership by example)
  3. Promise keeping (fulfilling the spirit of commitment)
  4. Fidelity (loyalty, confidentiality)
  5. Fairness (justice, equal treatment, diversity, independence)
  6. Caring (compassion, kindness)
  7. Respect (human dignity and uniqueness
  8. Citizenship (respect for law, social consciousness)
  9. Excellence (quality of work)
  10. Accountability (responsibility, independence)

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.

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The Profit Economics


The following information is required, at a minimum, to understand the profit economics of a business:

  1. How many dollars of assets are committed in each stage of each product/market business (e.g., R&D, materials, plant and equipment, finished stock, post-sale support)?
  2. What is the fixed/variable cost relationship for each product/market business, that is, for each dollar of sales, how many cents are attributable to bedrock fixed costs, how many to structured or discretionary costs, and how many to out-of-pocket costs?
  3. How do costs and profit change with swings in volume?
  4. What is the break-even point at current volume and what actions could be taken to bring that break-even point down should volume potential decline?
  5. What is the rate of incremental profit on each added increment of volume? What are the volume points where new increments of structured cost must be added?

A net profit and loss statement (after all allocations) and a balance sheet for each product line are essential for generating answers to these questions. Despite their claim that “we know all that,” very few managers actually have this information readily available.

Actually, most accounting systems are not designed to provide these kinds of statements and the accountants will argue that you can’t get them because many products run over the same machines, a lot of indirect costs can’t be allocated, and so on. To which we say, baloney! Shared fixed and indirect charges often represent the most serious cost problems in business situations where a cost disadvantage exists. And they are impossible to attack in the aggregate. They must be broken down and assigned to a discrete business unit even if done arbitrarily. Then a manager with hands-on responsibility can argue about fairness and whether there is value received for the costs involved. Although this is obviously not a precise exercise, it is effective and essential. Without full cost profit and loss and balance sheet statements managers cannot really understand the profit economics of their business. Further, they can’t make the types of intelligent business decisions and plans so important in today’s environment.

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

The Blue-sky Laws


Government regulation and intervention is very pervasive in our daily lives, especially in business activities. That intervention is both supportive and restrictive. Also, it is constantly changing. The intent of government is generally to provide justice, orderliness, and fairness. A realistic observer may also perceive a governmental desire to play Robin Hood. Some entrepreneurs will find themselves the objects of Robin’s beneficence. Most owner-managers see too much of his ever-present Merry Men.

Entrepreneurs usually don’t concern themselves much with the creation and enforcement of government regulations. Being realistic, they just want to know the rules. They ask how it works and then go on about the business of building their enterprise. Because entrepreneurs need all the help they can get, they will use the rules and regulations that can in any way help the business. If the rules are not helpful they will avoid getting into a position where the rules interfere with the progress of the business. The problem for entrepreneurs is that the regulatory bureaucracy is so massive and complex that they have trouble understanding the rules.

The specialists who devote their professional lives to understanding rules and providing guidance to the rest of us must concentrate on a small segment of the rules to be able to keep up with the changes and the latest nuances in interpretation. This results in the need for many specialists. Despite the burden on time and financial resources, however, it is most prudent to obtain sufficient advice and guidance at least to avoid the wrath and interference of the regulators.

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

Conducting an Interview


You may not have the time or inclination to create structured situational interviews. However, there are several things you can do to increase the standardization of the interview or otherwise assist the interviewer to ask more consistent and job relevant questions. They include:

  1. Base questions on actual job duties. This will minimize irrelevant questions based on beliefs about the job’s requirements. It may also reduce the likelihood of bias, because there’s less opportunity to ‘read’ things into the answer.
  2. Use job knowledge, situational, or behaviorally oriented questions and objective criteria to evaluate the interviewee’s responses. Questions that simply ask for opinions and attitudes, goals and aspirations, and self-descriptions and self-evaluations allow candidates to present themselves in an overly favorable manner or avoid revealing weaknesses. Structured interview questions can reduce subjectivity and therefore the chance for inacurate conclusions, and bias. Examples of structured questions include: (a) situational questions like, “Suppose you were giving a sales presentation and a difficult technical question arose that you could not answer. What would you do?”; (b) past behavior questions like, “Can you provide an example of a specific instance where you developed a sales presentation that was highly effective?”; (c) background questions like, “What work experiences, training, or other qualifications do you have for working in a teamwork environment?”; (d) job knowledge questions like, “What factors should you consider when developing a TV advertising campaign?”
  3. Train interviewers. For example, review laws with prospective interviewers and train them to avoid irrelevant or potentially discriminatory questions and to avoid stereotyping minority candidates. Also train them to base their questions on job-related information.
  4. Use the same questions with all candidates. When it comes to asking questions, the prescription seems to be “the more standardized, the better.” Using the same questions with all candidates can also reduce bias “because of the obvious fairness of giving all the candidates the exact same opportunity.”
  5. Use rating scales to rate answers. For each question, provide a range of possible ideal answers and quantative score for each. Then you can rate each candidate’s answers against this scale. This ensures that all interviewers are using the same standards.
  6. Use multiple interviewers or panel interviews. Doing so can reduce bias, by diminishing the importance of one interviewer’s idiosyncratic opinions, and by bringing in more points of view.
  7. If possible, use structured interview form. Interviews based on structured guides usually result in the best interviews. At the very least, list your questions before the interview.
  8. Control the interview. Limiting the interviewers’ follow-up questions (to ensure all interviewees get the same questions), using a larger number of querstions, and prohibiting questions from candidates until after the interview are other “structuring” techniques.

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

Human Resource Management


Human resource management is the process of acquiring, training, appraising, and compensating employees, and attending to their labor relations, health and safety, and fairness concerns. The topics provide you with the concepts and techniques you need to carry out the people or personnel aspects of your management job. They include:

  • Conducting job analysis (determining the nature of each employee’s job):
  • Planning labor needs and recruiting job candidates;
  • Selecting job candidates;
  • Orienting and training new employees;
  • Managing wages and salaries (compensating employees);
  • Providing incentives and benefits;
  • Appraising performance;
  • Communicating (interviewing, counseling, disciplining);
  • Training and developing managers;
  • Building employee commitment.

A manager should know about:

  • Equal opportunity and affirmative action;
  • Employee health and safety;
  • Handling grievances and labor relations.

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 contact www.asifjmir.com, Line of Sight