China's happiness quotient

 

MAY 8, 2012 Tue China's Happiness Depends on Expectations of Rising Income Despite years of wrenching economic change in China, optimism about rising incomes has staved off social unrest and put the Chinese populace's happiness level on a par with that of Croatia, says a team led by Paul Frijters of the University of Queensland in Australia. But China's happiness could drop to that of Bangladesh if income expectations were to turn sour. If individuals began to expect incomes to fall, the proportion of very happy Chinese citizens would decrease 48%, with steeper declines among rural-to-urban migrants, the researchers say. Source: Are optimistic expectations keeping the Chinese happy?

It's all about Moneypenny, baby !

 

JUNE 15, 2012 friday Dad's Layoff Diminishes Baby's Birth Weight The birth weights of babies born after their fathers lose their jobs are 4.7% lower, or about 5 ounces less, than those of employed dads' babies, according to Jason M. Lindo of the University of Oregon. In a study of American fertility data from 1968-1997, Lindo says the effect may be due to factors such as the reduced food expenditures that result from lower family income and the stress experienced by moms who work more actively after their husbands are laid off. Source: Parental Job Loss and Infant Health

innovation 3 tips

 

JULY 30, 2012 Mon Get Unstuck When Innovating To innovate, you need to think differently. If you find yourself struggling to get something started or you're stuck in the middle of a project, try to get into a new frame of mind: Get inspiration from outside. Think about what problems your customers are trying to solve. Spend time with them to understand what they actually need and how you might help them. Learn from mistakes. There's no such thing as a perfect plan. Assume your first idea is partially right and partially wrong, and then reassess your approach. Resist the pull of the core. Don't shift ideas toward how you currently operate, even if that's what you're most comfortable doing. Today's Management Tip was adapted from "Four Ways to Think Like an Innovator" by Scott Anthony.

Airlines profit

 

JUNE 14, 2012 Thu

Airlines' Profit Amounts to Revenue from 1 in 100 Passengers

If a U.S. airline collected $16,400 in fares and fees for a typical (hypothetical) domestic flight, just $164 of that would become profit, according to an analysis by US Airways and Oliver Wyman for the Wall Street Journal. In other words, if there were 100 passengers, the total profit would be represented by just one traveler's fare and fees. Fuel costs would eat up the revenue from 29 passengers; salaries, 20; ownership costs, 16; government fees and taxes, 14; maintenance, 11; and "other" costs, 9.

Source: How Airlines Spend Your Airfare

For profit post secondary schools in USA & job prospects

 

MAY 15, 2012

Students of For-Profit Colleges Have Higher Unemployment, Lower Wages

Although for-profit colleges are more successful than traditional schools at keeping new entrants from withdrawing in the first year, their students end up with higher unemployment rates and lower earnings than comparable students from other schools, says a team led by David J. Deming of Harvard University. For-profit institutions are the fastest-growing part of the U.S. higher education sector: From 1970 to 2009, their enrollment increased from 0.2% to 9.1% of total enrollment in degree-granting schools. For-profits educate a larger fraction of minority, disadvantaged, and older students than traditional colleges, the researchers say.

Source: The For-Profit Postsecondary School Sector: Nimble Critters or Agile Predators?

How to get good advice

 

MAY 15, 2012 Tue

Stop Getting Bad Advice

People love to give advice. While it's useful to hear what others think, sometimes they give off-target or foolish guidance. Here are a few ways to increase your odds of getting good input: Target your requests. Don't ask whoever is available. Create a list of people who have access to relevant resources, information, and experience on your problem and approach them first. Frame your question. Figure out what you need before asking for input. Know what information would be useful to hear and help explore gaps in your thinking. Redirect the conversation. If the person offering advice jumps to erroneous conclusions, redirect them. Most people will not be offended when politely refocused.

Today's Management Tip was adapted from "When the Help You Get Isn't Helpful" by Ron Ashkenas.

Zen and the art of Annual sales budgeting

 

MAY 14, 2012

3 Tips for Creating a Realistic Budget

If you have to put together an annual budget for your department, your compensation may depend on your ability to stick to it. Here are three tips for creating a manageable budget: Stay goal-oriented. If you aim to increase sales, make that your overriding concern. Don't let other issues sidetrack you. Don't do it alone. Include your team members in developing the budget — they may have knowledge about certain line items that you don't. Question your assumptions. A budget should take current data, add assumptions, and create projections. Be careful about the assumptions you make and question how likely they are to come true. When you present the budget, you'll need to be prepared to defend them.

Today's Management Tip was adapted from the Harvard ManageMentor Online Module: Financial Essentials.

Effects of Ethics on labour market success ; effect of MBA s

 

MAY 14, 2012 Mon

Male Professionals with Higher Ethical Standards Earn Less

Although companies have focused greater attention on the need for ethical practices over the past few decades, male business professionals who self-report high ethical character earn, on average, 3.4% less than their peers who don't report having such standards, according to an analysis of data on thousands of students by Andrew Hussey of the University of Memphis. Moreover, men who reported that their MBA programs enhanced their ethical standards received 6.5% lower wages than men who reported no such gain. For women, the situation is different: Female professionals who self-report high ethical standards receive no pay penalty, and women who said that their schooling had raised their standards received a premium averaging 5.5%.

Source: The effect of ethics on labor market success: Evidence from MBAs

3 tips for focussed job hunt

 

JUNE 14, 2012 Thu

Find that Needle-in-a-Haystack Job

Looking for a job today often requires the painstaking task of sorting through countless websites and listings to find what's relevant to you. Instead, try setting up a personalized stream of opportunities. Here's how: Get Specific. Avoid wasting time and energy and get clear on the exact search terms that best match the jobs you want. If you cast too wide a net, such as searching for "marketing" or "Atlanta", you'll receive too many results. Focus on a few niches. Find the niche job boards for your field. Bookmark these sites for easy daily reference and sign up for email alerts so you're notified when new jobs post that fit your criteria. Use Twitter wisely. Do an advanced search (using the specific terms you've now defined) to find the kinds of job postings you're looking for. Then follow the feeds that provide the best postings, adding them to a list so you can check them daily.

Today's Management Tip was adapted from "How to Curate Your Own Personal Job Feed" by Lindsey Pollak.

Online chatter and stock prices

 

JUNE 1, 2012 Fri

Online Chatter Volume Predicts Stock Prices

Researchers were able to do 7.9% better than the S&P 500 stock index by (virtually) investing in brands that generate high volumes of online chatter. In studying four years' worth of product reviews of 15 brands, Seshadri Tirunillai of the University of Houston and Gerard J. Tellis of USC's Marshall School found that sheer volume of reviews and negative chatter have a strong predictive relationship with stock returns; positive chatter and five-star ratings have no predictive value. The stock-return effects are rapid but not immediate: They follow bursts of user-generated comments by a few days, the researchers say.

Source: Does Chatter Really Matter? Dynamics of UGC and Stock Performance

Liability insurance and quality decision making

 

JUNE 12, 2012 Tue  Lawsuit-Protection Insurance Leads Execs to Make Poor Choices Entrenched executives and directors who are insured against shareholder lawsuits tend to make worse M&A decisions, according to a team led by Chen Lin of Chinese University of Hong Kong. For example, their firms' average acquisition premiums (the percentage amounts they pay above the targets' stock price) are more than twice those paid by firms with uninsured officers. The findings suggest that the threat of litigation can lead to better investment choices, but only if corporate officials aren't shielded by liability insurance. Source: Directors' and officers' liability insurance and acquisition outcomes

When you have to fire someone ...

 

JUNE 12, 2012 Tue

Minimize the Emotional Impact of Firing Someone

One of the hardest things to do as a manager is to tell an employee he's fired. Here are three tips for handling this gut-wrenching situation: Bring answers. When a person is let go, he's likely to have a lot of questions and concerns. Come prepared to address his logistical questions, such as when his last day is, how his peers will be notified, etc. Listen, don't react. Losing a job can be traumatic. Don't get caught up in responding to your employee's emotions. Listen with respect. Offer to talk again later when the emotions are not so raw. Talk to your team. Firing an employee impacts everyone on your team. Not only does it change work assignments, but people might also wonder about their own job security. Share what information you can to reassure the people left behind.

Today's Management Tip was adapted from "Firing Someone the Right Way" by Ron Ashkenas.

Gen X and baby boomers , handling generational talent

 

MAY 16, 2012

Keep Gen-Xers Engaged

Generation X may be a smaller population than Baby Boomers or Millennials, but it wields great influence in today's organizations. People in this generation are the all-important bench strength for aging leadership. To keep them around, here's how to keep them engaged. Develop corporate chameleons. Gen-Xers like to continually learn. Rotate promising employees through different functions on a regular schedule. This will keep things fresh and prep them for leadership roles that require broad experience. Bring them out of the shadows. Put Xers in charge of high-visibility projects to spotlight their abilities, or partner them with Baby Boomers who can enhance their careers. Test their wings. Many Xers have an entrepreneurial spirit. Foster this interest by letting them take responsibility for a company-sponsored venture.

Today's Management Tip was adapted from "Don't Dismiss Your Gen X Talent" by Sylvia Ann Hewlett.

Handling office politics & people who dislike you !

 

MAY 17, 2012 Thu

Turn Adversaries into Allies

Anyone who has faced rivals at work — bosses who take all the credit, team members who undermine things — knows how difficult it is to ignore them. Instead, turn your adversaries into collaborators by following these three steps: Redirect. Try to channel your rival's negative emotions away from you by bringing up something you have in common, or talking about the source of the tension in a favorable light. Reciprocate. Give up something of value to your rival — help complete a project or divulge important information — so you are poised to ask for something in return. Reason. Explain that not working together cooperatively could mean lost opportunities. Most people are highly motivated to avoid a loss.

Today's Management Tip was adapted from "Make Your Enemies Your Allies" by Brian Uzzi and Shannon Dunlap.

Increasing profitability

 

MAY 21, 2012 Monday

Increase Profits by Streamlining Your Company

As a business becomes more complex, it gets difficult to trace costs. If you aren't sure where your company is making money — or losing it — follow these two steps to simplify: Analyze profitability by offering or market. There are often large profit disparities among lines of business, brands, products, and customers. Knowing exactly where you're making money and how is the first step to making more of it. Make sure each brand and SKU is pulling its weight. Most complex companies have many brands or SKUs that contribute little to the bottom line. By targeting profitable ones and cutting the rest loose, you can free up significant capacity with negligible loss in revenue and volume.

Today's Management Tip was adapted from Guide to Finance Basics for Managers.

Finances causing rifts in couples

 

MAY 21, 2012 Moday

Couples Argue 3 Times per Month Over Finances

Financial matters trigger an average of 3 arguments per month for married couples, an incidence that rises to 4 per month for those aged 45 to 54, according to a U.S. survey conducted for the American Institute of CPAs by Harris Interactive. The most common source of contention is disagreement over what's a "want" and what's a "need." The next most common issues are unexpected expenses and insufficient savings.

Source: AICPA Survey: Finances Causing Rifts for American Couples

Factors that reduce life satisfaction

 

MAY 25, 2012 Friday

Americans' Satisfaction Wanes as Connections Wither

Between 1985 and 2005, the number of Americans who said they definitely felt satisfied with the way their lives were going dropped by about 30%, and the ranks of the most dissatisfied rose by nearly 50%, according to a study involving thousands of people by Chris M. Herbst of Arizona State. The reasons appear to be related to Americans' declining attachments to friends and family, lower participation in social and civic activities, and diminished trust in political institutions, Herbst says. The only good news: The rate of decline in satisfaction appears to have slowed during that two-decade period.

Source: 'Paradoxical' decline? Another look at the relative reduction in female happiness

Job hunt confidential

 

MAY 22, 2012 Tue

Keep Your Job Search a Secret

Looking for a job while you already have one can be stressful, especially in the age of social media when privacy is scarce. Here are three ways to keep your search to yourself: Don't tell anyone. You may be close with certain coworkers, but your secret will only stay secret if you're religious about keeping it to yourself. Network carefully. When reaching out to others, you don't need to spill the beans. Instead of "Hi, I'm Amy Gallo and I'm looking for a job," say something like, "I'm doing well at my current position and I'm always entertaining options for what's next." Wait for the offer. If you know your manager will react negatively, it's best to wait until after you have an offer in hand to inform her.

Today's Management Tip was adapted from "How to Keep a Job Search Discreet" by Amy Gallo.

Broad band in USA

 

MAY 24, 2012 Thu

Broadband Access Is an Expensive Bottleneck in the U.S.

The least-expensive broadband plan in the U.S. is more costly than the comparable service in 28 of the 34 industrialized OECD countries, if measured in dollars per megabit of speed, says The New York Times. One reason is that to foster growth of the physical infrastructure, the U.S. discouraged competition in the industry, and now 96% of Americans have a choice of at most two broadband providers.

Source: Keeping the Internet Neutral

Choosing a right mentor

 

APRIL 13, 2012 Friday  Need a Mentor? Forget the Expert When people early in their careers seek mentors, they often target those with a depth of experience. But experts can't teach you everything. And, often they are so far removed from your day-to-day work that they can't help you solve problems. Select at least one mentor with only a few more years of experience than you. Someone who has recently walked in your shoes can give you practical, relevant advice on the challenges you face. She may also give you insight into what's coming in your career and the types of challenges you'll be up against next. Today's Management Tip was adapted from Guide to Getting the Mentoring You Need.

3 strategy insights to follow

 

APRIL 12, 2012 Thu

Develop a Strategy the Smart Way

Strategic planning fails when it has fuzzy objectives, too many people, and a rushed schedule. When your company faces uncertainty and needs to develop a strategy fast, do it the right way: Define the challenge. Your leadership team can't settle on a path forward unless everyone agrees on the problem you're trying to solve. Once you are aligned, focus on core questions and avoid meandering discussions. Identify the destination. Define the future state and how to get there. Don't try to please everyone; make the hard choices that lead to a clear strategy. Develop options. Changes in the marketplace are inevitable. Come up with alternative approaches that let you to respond to uncertain events.

Today's Management Tip was adapted from "Six Strategy Insights RIM's New CEO Can Use" by Steve Wunker.

Insider Trading frauds - culture or money ?

 

APRIL 12, 2012 Thu

Richer Executives More Likely to Be Indicted for Insider Trading

Executives who are indicted for insider trading tend to be just as rich as or richer than other top managers — in fact, the likelihood of being indicted on this charge increases with compensation and wealth, according to a study of 52 accused executives by Utpal Bhattacharya of Indiana University and Cassandra D. Marshall of the University of Richmond. The motive for the crime thus may have more to do with hubris or company culture than a desire for money. The benefit that Martha Stewart would have received from her alleged insider trading was just 0.007% of her $650 million net worth in 2001, the authors say.

Source: Do they do it for the money?

Leadership Decision Making

 

APRIL 19, 2012 Thu

Practice Being a Leader

Leadership is not an innate trait that you're born with. It can be learned. The key is to practice before you have the official title. Start by focusing on the choices you make now, such as who to put on your team or what vendor to use for your project. Recognize that you likely don't know everything. Making decisions based on incomplete information is a skill that every leader must master. Once you've acted, ask yourself: Was that the right decision? Could you have done something differently? This will get you comfortable with making decisions, acting upon them, and reflecting on their outcomes. Then, learn from your inevitable mistakes. You will build knowledge and skills as you work up to the larger decisions with broader consequences that all leaders have to make.

Today's Management Tip was adapted from "Wilderness Leadership—on the Job" by John Kanengieter and Aparna Rajagopal-Durbin.

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Do online dating platforms help those who need them the most ?

 

APRIL 16, 2012 Monday  Women Still Hesitate to Contact Potential Mates on Dating Sites Despite the booming popularity of online matchmaking, some dating sites have done little to help women overcome the taboo of making the first move in contacting a stranger, says Mikolaj Jan Piskorski of Harvard Business School. As a result, women send far fewer messages than men when looking at profiles. Online dating companies could do more to help people who are having trouble meeting the right person, Piskorski suggests. Some 14,000 businesses constitute the $2 billion online dating industry, according to IBISWorld.com. Source: Do Online Dating Platforms Help Those Who Need Them Most?

Decisive project meetings

 

APRIL 17, 2012 Tue Run a Decisive Project Meeting To keep momentum in a project, you need to run great meetings. Make your next project meeting productive with these three guidelines: Restate the meeting's purpose. Even if you think everyone knows it, it helps to remind them and sharpen the group's focus. Include everyone. If one or two people dominate the conversation and others are shy about leaping in, draw out new people by saying, "Thanks for those ideas, Carl. What are your thoughts about this problem, Megan?" End well. Close the meeting with an action plan and a clear time frame. State the decisions the group has made, who owns what, and when they need to report back to the team. Today's Management Tip was adapted from Guide to Project Management.

Gut feelings & decision making

 

MAY 2, 2012 Wed

Trust Your Gut

Most of us are taught to defer to authority. As a result, we tend to disregard our internal compasses. But your instincts are often right. Here is how to counter your conditioning and question authority: Listen to your inner voice. Take a moment to breathe and consider what is going on. Ask yourself, "Are there other ways to approach this assignment?" Constructively question. Ask your boss, customer, or client: Why do we do it this way? Would you be open to different ways? Can we experiment? Reflect. Whether you've followed along or pushed for an alternative, think about what happened. Remember what it felt like to go against authority and think about how you might handle it differently in the future.

Today's Management Tip was adapted from "Learn to Trust Your Gut" by Ron Ashkenas.

When to reveal secrets

MAY 3, 2012 When to Share Bad News When you're privy to information that your team isn't, should you share the news or protect your employees? When deciding whether to divulge bad news, do these things first: Know your tendency. We all have a preferred approach when it comes to privacy. Some keep things quiet, while others are more open. Understand your bias and find a middle ground. Question your motives. Whether you're eager to share news or resisting a conversation, question your motives. Are you feeling guilty about harboring information? Are you afraid of people getting angry? Tend toward transparency. Lean toward transparency if possible. As long as you're not violating company policy, give your team the bad news — especially if it's going to impact their work. When to reveal secrets - by Amy Gallo

Female competitiveness

 MAY 3, 2012

All-Female Groups Boost Girls' Willingness to Compete !

Adolescent girls were 16 percentage points more likely to enter a maze-solving tournament if they were in an all-female group, according to an experiment by Alison Booth and Patrick Nolen of the University of Essex in the UK and Australian National University. The study, which also shows that girls from single-sex schools choose to enter tournaments more than girls from coed schools, suggests that a girl's environment plays an important role in explaining whether she chooses to compete, the authors say.

Source: Choosing to compete: How different are girls and boys?

How to identify passion in prospective hires ?

 

MAY 25, 2012 Friday

Hire for Passion, Not Just Talent

People are more creative when they feel passionate about their work. Whether they are driven by interest, enjoyment, satisfaction, or a sense of personal challenge, they are more likely to take risks, look for multiple solutions to a problem, and seek out the best one rather than the easiest. These are the people you want on your team. Get to know potential hires as thoroughly as possible, even before you have an opening for them. Ask them why they do what they do, what disappointments they've had, what their dream jobs would be. Look for fire in their eyes as they talk about the work itself, and listen for a deep desire to do something that hasn't been done before. When you talk to their references, listen for mentions of passion.

Today's Management Tip was adapted from "Talent, Passion, and the Creativity Maze" by Teresa Amabile and Steve Kramer.

Advantages of Group Think

 

MAY 22, 2012 tue

Groupthink Can Be Smarter than Personthink

Although groups brainstorm less effectively than individuals, they perform better on certain judgment tasks, perhaps because members learn from each other. Asked to estimate the flight distance between European cities, groups of students averaged 30% fewer errors than individuals, according to a team led by Thomas Schultze of Georg-August-University in Goettingen, Germany. Accuracy can be further increased if members are told which member is most competent, the researchers say.

Source: Why groups perform better than individuals at quantitative judgment tasks: Group-to-individual transfer as an alternative to differential weighting

Broad band and sense of well being

 

MAY 23, 2012 Wed

Broadband Boosts Well-Being as Effectively as a Robust Economy

A 10 percentage point increase in broadband penetration produces the same lift in the population's subjective well-being as a 2.89% increase in GDP per capita, say Georgios Kavetsos of Cass Business School and Pantelis Koutroumpis of Imperial College Business School, both in London. In fact, ownership of a range of high-tech devices, including phones, CD players, and computers, is associated with significantly higher levels of satisfaction, according to their study of 29 countries, most in Europe. The researchers found no such effect for ownership of TV sets, however.

Source: Technological affluence and subjective well-being

How to turn ur obstacles into assets ! Motivational

 

MAY 23, 2012 Wed

Turn Obstacles into Assets

Successful people work with what they have to achieve their goals. This includes surprises, obstacles, and even disappointments. Next time you face a challenge, think about how it can help you. Use negative feedback to gauge whether to invest more resources or pull the plug before it's too late. Take your boss' rejection of your idea as a chance to come up with a better one that she will love. Use discouraging market research findings about your product to develop a feature that customers can't live without. Instead of setbacks, see these events as gifts and make them work for you.

Today's Management Tip was adapted from "How to Turn an Obstacle into an Asset" by Leonard A. Schlesinger, Charles F. Kiefer, and Paul B. Brown.

smart job search on social media

 

MAY 24, 2012 Thu

Use Social Media to Boost Your Job Search

More and more people are finding jobs via Twitter, Facebook, and other social media sites. These media aren't changing how we look for jobs, they are simply rebooting the traditional habits of successful job hunters and making them easier. To boost your job search: Build a better network. You used to pester people for their business cards at conferences and mixers. Twitter offers a better alternative. Lots of recruiters, hiring managers, and industry leaders hang out on Twitter, swapping job leads and industry updates. Share evidence of your good work. Rather than dragging your portfolio to an interview, high-traffic sites such as YouTube and Pinterest can help you showcase your work. Recruiters increasingly prowl the web to look for the best candidates.

Today's Management Tip was adapted from "Smart Social Media Helps Jobs Find You" by George Anders.

Managing remote team and communication strategy

 

SEPTEMBER 12, 2012 Wed

Manage a Diverse and Dispersed Team

Teams that come together across different units and time zones to do project-based work rarely have time to build the trust that has long been considered the foundation of good teamwork. Here's how to manage a team working on the fly: Speak up and listen intensely. Communication is key. Ask questions, acknowledge errors, raise issues, and offer ideas. Make sure you understand your teammates' knowledge, expertise, ideas, and concerns. Integrate different points of view. Information and ideas don't synthesize themselves. Leaders need to identify and incorporate the challenges, opportunities, and solutions so they make sense to the team. Experiment iteratively. In uncertain environments, people tend to overanalyze or take big leaps of faith. Instead, use a step-by-step approach and take time to discuss progress and correct as you go.

Today's Management Tip was adapted from "Teamwork on the Fly" by Amy Edmondson.

Remote teams and communication

 

SEPTEMBER 17, 2012 Monday

Choose the Right Tools to Communicate With Your Virtual Team

Far-flung teams rely on technology to communicate. But do you really need the most cutting-edge software to do so? Here are three rules to follow when selecting the tools your virtual team needs to collaborate from afar: Keep it simple. You want something that doesn't require complex setup time or a steep learning curve. Your team should be focused on the message, not the medium. Focus on reliability. You don't want to worry about whether your message gets through. Do your research, and select tools that people trust will work. Make it accessible. Virtual teams often work from several locations — meeting rooms, field offices, airports, even coffee shops. Choose things that work anywhere team members might want to use them.

Today's Management Tip was adapted from "Managing a Virtual Team" by Mark Mortensen and Michael O'Leary