Constant Challenge


This is clear when you consider how people find jobs in the first place. For many people their whole career history is laced with luck and chance: being in the job market when a certain company was recruiting, seeing a certain advert, knowing someone who knew someone. Many people not in a true vocation have little real idea about the job or company they start working for before they actually start the job.

Some people pick losers and are repeatedly made redundant, or take several jobs before they find something that fits. Other people pick winners in the job lottery, walk into their first position and stay there all their working life.

Nothing wrong with that from a personal point of view, but the last thing these people want to do is rock the best by pushing themselves or indeed anyone else (except those lower down the pecking order) out of their comfort zones.

This inevitably creates stuffy, complacent business. What incentive is there for these people to take risks or leave when they don’t think they will ever find another job half as cushy as the current one?

What is more, when an employee has several years of service under their belt, disgruntled employers will duck this issue, thinking that they will be too costly and difficult to move on.

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.

 

Advertisements

Just About Money


Strictly defined, money is anything generally accepted in exchange for goods and services. To be used as a medium of exchange, money must be acceptable, divisible, portable, stable in value, durable, and difficult to counterfeit.

Acceptability: To be effective, money must be readily acceptable for the purchase of goods and services and for the settlement of debts. Acceptability is probably the most important characteristic of money: If people do not trust the value of money, businesses will not accept it as a payment for goods and services, and consumers will have to find some other means of paying for their purchases.

Divisibility: Given the widespread use of quarters, dimes, nickels, and pennies in the United States, it is no surprise that the principle of divisibility is an important one. With barter, the lack of divisibility often makes otherwise preferable trades impossible, as would be an attempt to trade a steer for a loaf of bread. For money to serve effectively as a measure of value, all items must be valued in terms of comparable units—dimes, for a piece of bubble gum, quarters for laundry machines, and dollars (or dollars and coins) for everything else.

Portability: Clearly, for money to function as a medium of exchange, it must be easily moved from one location to the next. Large colored rocks could be used as money, but you couldn’t carry them around in your wallet. Paper currency and metal coins, on the other hand, are capable of transferring vast purchasing power into small, easily carried bundles.

Stability: Money must be stable and maintain its declared face value. The principle of stability allows people who wish to postpone purchases and save their money to do so without fear that it will decline in value. Money declines its value during periods of inflation, when economic conditions cause prices to rise. Thus, the same amount of money buys fewer and fewer goods and services.

Durability: Money must be durable. The crisp new dollar bills you trade at the music store for the hottest new CD will make their way all around town for about 18 months before being replaced. Were the value of an old, faded bill to fall to line with the deterioration of its appearance, the principles of stability and universal acceptability would fail. Although metal coins, due to their much longer useful life, would appear to be an ideal form of money, paper currency is far more portable than metal because of its light weight. Today, coins are used primarily to provide divisibility.

Difficulty to Counterfeit: To remain stable and enjoy universal acceptance, it almost goes without saying that money must be very difficult to counterfeit—that is, to duplicate illegally. Every country takes steps to make counterfeiting difficult. Most use multicolored money, and many use specially watermarked papers that are virtually impossible to duplicate.

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.

Facing up to Deficiencies


Many companies fail to objectively evaluate their products against competitive offerings in a rigorous manner. If they do go through some kind of an evaluation process, it is often superficial or biased, leading to a continuation of “business as usual” rather than dramatic cost or performance improvements. In some cases, management is not presented with the real facts because it is easier not to “rock the boat.” In other cases, management may see the facts but not accept or face them squarely, since it is not easy to admit that a product is no longer competitive. As a result, a surprising number of companies continue to try to get by with products that are not competitive and they fail to make the fundamental, essential changes in design or cost.

There are two important points that successful companies always follow. First, it is essential to ensure that products are designed for efficient manufacturing and assembly. Second, “me too” parity is never a solid basis for gaining or regaining position. Technical programs should always be designed to leapfrog the competition rather than play “catch up” against moving competitive targets.

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

Hiring Happy Employees


With all the apptitudes, skills, and traits for which managers can test applicants, there is still one thing that’s usually not tested for but that perhaps should be—at least if some recent research findings are valid. Particularly in companies being rocked by downsizings and competitive pressures, there’s something to be said about hiring people who are inclined to remain happy even in the face of unhappy events.

Basically, happiness seems to be largely determined by the person’s genetic makeup—that, in other words, some people are simply born to somewhat happier than others. The theory, in nutshell, says that people have a sort of “set point” for happiness, a genetically determined happiness level to which the person quickly tends to gravitate, no matter what failures or successes he or she experiences. So confront a high-happiness-set-point person with the prospect of a demotion or an unattractive leteral transfer, and he or she will soon return to being relatively happy once the short blip of disappointment has dissipated. On the other hand, send an inherently low-set-point, unhappy person off on a two-week vacation or give him or her a sizable raise or a new computer, and chances are he or she will soon be as unhappy as before the reward.

Like testing employees for any traits, coming up with a set of tests or interview questions to identify happier, high-set-point people requires careful consideration and probably the help of a qualified psychologist. However, the following might provide some insight into the tendency to be relatively happy:

Indicate how strongly (high, medium, low) you agree with the following statements:

  • “When good things happen to me, it strongly affects me.”
  • “I will often do things for no other reason than they might be fun.”
  • “When I get something I want, I feel excited and energized.”
  • “When I am doing well at something, I love to keep at it.”

Agreeing with more statements and agreeing with them more strongly may correlate with a higher happiness-set-point.

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