Trust is fundamental to leadership, especially during times fo change and uncertainty. Leaders who have establish trust among their followers are able to direct them with less resistance. On the other hand, it is much riskier to follow a leader that you don't trust when you are in unfamiliar circumstances. Followers go above and beyond the line of duty for leaders they trust. Followers only do what they have to for leaders they do not trust.
You can see now, how valuable is to have a high level of trust throughout an organization? It is a very valuable intangible asset.For me it is part of an organization's "social capital". But it is difficult to gain trust among your organization, or among your team etc.
Several characteristics of a good manager engender trust from the individuals and teams that they lead. Such as...Integrity, Reliability, Caring, Openess, Competence and Loyalty. If you have the above characteristics and if you invest in employees, promote open communiaction, behave in an ethical and socially responsible manner and provide a certain degree of job security, then you have it. It's there and it's all yours! "T-R-U-S-T"-Once you get it you just have to look after it, preserve it and perfom business with the best possible outcomes. It is one of the safest ways to optimize business.
I know that some of you, will ask yourself "is he nuts? what job security is he talking about?"- Well yes. We all know that layoffs breed distrust. Correct?
-We invest a certain amount of our careers, psychological identity and personal lives in the organizations that we work for. Such investment leaves us vulnerable. It may be impossible or unwise for employers to offer employees lifetime employement. Nevertheless, reasonable efforts that need to ensure a degree of job security will promote trust. For the sake of trust, organizations that need to reduce their workforce should consider alternatioves to layoffs even if they are more expensive. Individuals who distrust the people they work with, tend to be less productive because they feel unsupported and alone. In addition, they don't believe what they are told and therefore often do not listen, and they must take time to corroborate what they have been told before they can believe it.
-A major advantage to interpersonal trust is information sharing and collaboration. When people trust that they will be given credit for their ideas and that sensitive information that they share will be kept confidential, they are more inclined to discuss their creative ideas and personal goals as well as personal concerns. Such an open environment is the ideal context for developing innovative ideas and resolving conflicts with "win-win" solutions.
Dimitris Papazisis
Monday, October 22, 2007
Do we realise the cosequences of the Dollar collapse?
Ladies and Gentlemen,
Lately I am doing some serious thinking that, our "friends" (the Americans), had promised to hamper the continuation of the Dollar collapse. The result? Well....and there we go again! Today...the 22nd. of October the exchange rate of the Euro against the USD is.....1.42629 !!! Ho,ho,ho,ho!! Merry Christmas everyone... Don't laugh yet though. In peanut butter and jelley speaking, that means that all the European exporting goods are losing major grounds globally !!! Imagine the cost of the importer...For instance, if a company in the United Arab Emirates, is importing Greek oranges since 2005 at a rate of, $17per ton (p/t) (December 2005 rate was 1Euro=1.18USD), today this importer is facing an enormous dillema. Is he going to continue importing Greek oranges for a new rate of $20.6p/t (Rate 1Euro=1.43USD), or is he going to prefer importing oranges from Lebanon at a rate of $17 p/t and of equal quality? And that is only the beginning. Besides oranges we have to refer to many other goods such as, automobiles, wood, fruits, vegetables, olive oil, steel, water, cement etc. The only positive aspect of that terrible monetary state, is that the Euro currency is stiff enough, therefore it absorbs all the turbulance from the crude oil global raise. Please do consider that, oil reserves are going to face a severe shortage after 2016 in the UAE, Kuwait and KSA. But after all, believe me it is my pleasure to let you do the aftermath all by yourselves. Ciao :)
Lately I am doing some serious thinking that, our "friends" (the Americans), had promised to hamper the continuation of the Dollar collapse. The result? Well....and there we go again! Today...the 22nd. of October the exchange rate of the Euro against the USD is.....1.42629 !!! Ho,ho,ho,ho!! Merry Christmas everyone... Don't laugh yet though. In peanut butter and jelley speaking, that means that all the European exporting goods are losing major grounds globally !!! Imagine the cost of the importer...For instance, if a company in the United Arab Emirates, is importing Greek oranges since 2005 at a rate of, $17per ton (p/t) (December 2005 rate was 1Euro=1.18USD), today this importer is facing an enormous dillema. Is he going to continue importing Greek oranges for a new rate of $20.6p/t (Rate 1Euro=1.43USD), or is he going to prefer importing oranges from Lebanon at a rate of $17 p/t and of equal quality? And that is only the beginning. Besides oranges we have to refer to many other goods such as, automobiles, wood, fruits, vegetables, olive oil, steel, water, cement etc. The only positive aspect of that terrible monetary state, is that the Euro currency is stiff enough, therefore it absorbs all the turbulance from the crude oil global raise. Please do consider that, oil reserves are going to face a severe shortage after 2016 in the UAE, Kuwait and KSA. But after all, believe me it is my pleasure to let you do the aftermath all by yourselves. Ciao :)
Αντίστροφη μέτρηση για το Σκοπιανό
Ωριμάζει η σκέψη για συνομιλίες σε επίπεδο Γ.Γ. Υπουργείων Εξωτερικών.
Η αντίστροφη μέτρηση για την τελική προσπάθεια άρσης του αδιεξόδου στο Σκοπιανό ξεκινά σήμερα από τη Νέα Υόρκη. Ο ειδικός μεσολαβητής του ΟΗΕ, κ. Μάθιου Νίμιτς, αναμένεται να καλέσει τους διαπραγματευτές των δύο πλευρών κ.κ. Αδ. Βασιλάκη και Ν. Ντιμιτρόφ σε συνάντηση την 1η Νοεμβρίου. Σύμφωνα με πληροφορίες, θα πρόκειται για την έναρξη μίας διαδικασίας εντατικών διαπραγματεύσεων σε συγκεκριμένο χρονοδιάγραμμα, η οποία θα καταλήξει σε αναβαθμισμένες συνομιλίες πολιτικού επιπέδου.
Guys...are we playing or are we being "played"?- Give me a break now, will 'ya?
Η αντίστροφη μέτρηση για την τελική προσπάθεια άρσης του αδιεξόδου στο Σκοπιανό ξεκινά σήμερα από τη Νέα Υόρκη. Ο ειδικός μεσολαβητής του ΟΗΕ, κ. Μάθιου Νίμιτς, αναμένεται να καλέσει τους διαπραγματευτές των δύο πλευρών κ.κ. Αδ. Βασιλάκη και Ν. Ντιμιτρόφ σε συνάντηση την 1η Νοεμβρίου. Σύμφωνα με πληροφορίες, θα πρόκειται για την έναρξη μίας διαδικασίας εντατικών διαπραγματεύσεων σε συγκεκριμένο χρονοδιάγραμμα, η οποία θα καταλήξει σε αναβαθμισμένες συνομιλίες πολιτικού επιπέδου.
Guys...are we playing or are we being "played"?- Give me a break now, will 'ya?
UAE non-energy revenue to double by 2012 !
Non-energy revenue to the governments of the UAE could double in the next five years to $49 billion as the oil exporter reaps the returns on its investments, the International Monetary Fund (IMF) said.
The UAE has been investing its windfall from a quadrupling of oil prices since 2002 in industries ranging from real estate to financial services, while its state-controlled companies and funds are scouring the globe for assets.
The return on such investments will more than double to 97.4 billion dirhams ($26.53 billion) by 2012, accounting for around half the governments' non-energy revenue of 180 billion dirhams ($49.03 billion), the IMF said in its 2007 country report on the world's sixth-largest oil exporter.Oil and gas income will rise 25% in that time to 300 billion dirhams, the IMF said.
The study assumes oil price forecasts ranging from $63.75 per barrel this year to $66 per barrel in 2011. US oil prices hit a record high of more than $90 per barrel last week.
The UAE has been investing its windfall from a quadrupling of oil prices since 2002 in industries ranging from real estate to financial services, while its state-controlled companies and funds are scouring the globe for assets.
The return on such investments will more than double to 97.4 billion dirhams ($26.53 billion) by 2012, accounting for around half the governments' non-energy revenue of 180 billion dirhams ($49.03 billion), the IMF said in its 2007 country report on the world's sixth-largest oil exporter.Oil and gas income will rise 25% in that time to 300 billion dirhams, the IMF said.
The study assumes oil price forecasts ranging from $63.75 per barrel this year to $66 per barrel in 2011. US oil prices hit a record high of more than $90 per barrel last week.
Business Development Tips
Some Business Development Tips
Identify the appropriate market and target the appropriate segments within the market -- Deep pockets; ability to leverage core product from one segment to another without major design/development changes.
Make sure there exists a market problem/pain that currently demands a solution. Is the problem large enough to justify the price of your solution? Is someone with P/L responsibility willing to pay for the solution? Test: Are you able to clearly delineate a value proposition that gets a customer’s attention?
Solve the customers problem, don’t just build cool technology. Value is always in the application of the technology, not technology per se
Have a clear understanding of your value chain. Know who are your partners, competitors, and customers – it isn't always obvious
Understand where you are in the market cycle, from a timing perspective: new technology, competitors entering, segmentation, consolidation, solutions offering, commoditized, etc.
Don’t fight the market and where it is in its life cycle – you will lose
Price based on value of solution, not to undercut competitors. Compete first on functionality, not price. If you truly are the only one solving the customer’s problem, you should be able to price your offering based on value of your product/solution to the customer You compete on price only after the product/solution has become a commodity – end of the life cycle
Techies should never hire sales people; they don’t know what skill-sets and personality traits to look for. Test: If it's someone who is too aggressive and a person techies don't want to hang out with, it's probably a good sales guy
Identify the end user of your product or service before you start thinking about Business Development. Even if you do not sell directly to the end users, you should know as much as possible about them. Don't be fooled by the misconception that your target market is "everybody".
Write a detailed plan of action. Prioritize your opportunities and consider partnering with proven and profitable businesses first. It is very common to see announcements of strategic alliances between companies with so-called "ideas" and not solid business models. Don't invest much time talking to your suppliers or companies you have to pay money to. It is their job to give you the best deal. Always assign a monetary value to the deal before exploring it. Form alliances with companies that will bring you revenue first.
Learn as much as you can about the potential partner and their competitors before you contact them. Determine how your deal can make your partner's company more profitable. That is, list all the ways in which your proposed joint agreement adds value your partner's business. What holes does it fill in your partner's product/service line? How does the deal enhance your partner company's core business? How will your product attract more customers to your partner company's business? How does "doing the deal" brace your partner against the trends of the industry, for which they might otherwise be unprepared?
Identify the personal issues. What are the personalities of the people who will be influential in the decision to sign the agreement? What are their personal motivations? Growth/expansion? Hot buttons? Family? Loyalty and commitment to the company they represent? Business process simplification? Eventual merger/acquisition?
Identify the PR potential of the joint agreement. Why is it hot news? To whom, in particular? How can you leverage these PR possibilities in negotiating the deal? How do they add value to the overall equation? Be careful in announcing so-called "strategic alliances" where only a purchase of equipment or services was made.
To insure that the partnership will successfully evolve, commit the necessary resources to insure that the deal is implemented and periodically evaluated. Set guidelines and performance metrics as part of the deal. Involve senior management in every step of the way. Assign a single point of accountability for the deal.
Business development is much more than simply going to trade shows and being a wheeler dealer. Business development is hard work and you must stay focused on the long term. Hopefully the above tips will help you whether you are experienced in biz dev or if the role of business development was thrust upon you due to layoffs, firings or other factors.
-COMMON MISTAKES BY SMALL TO MEDIUM-SIZED COMPANIES
For a sound company able to withstand competitors, business development never stops but is an ongoing process.
Small to medium-sized companies often do not establish procedures for business development, instead relying on their existing contacts. Other times they assume that because they know people in high places that their business development problems are solved and that somehow new business will come to them. The ramifications of such thinking can be significant in the event they are unable to leverage those relationships, which very often are personal or weak. Then they will have no new business in the pipeline.
Identify the appropriate market and target the appropriate segments within the market -- Deep pockets; ability to leverage core product from one segment to another without major design/development changes.
Make sure there exists a market problem/pain that currently demands a solution. Is the problem large enough to justify the price of your solution? Is someone with P/L responsibility willing to pay for the solution? Test: Are you able to clearly delineate a value proposition that gets a customer’s attention?
Solve the customers problem, don’t just build cool technology. Value is always in the application of the technology, not technology per se
Have a clear understanding of your value chain. Know who are your partners, competitors, and customers – it isn't always obvious
Understand where you are in the market cycle, from a timing perspective: new technology, competitors entering, segmentation, consolidation, solutions offering, commoditized, etc.
Don’t fight the market and where it is in its life cycle – you will lose
Price based on value of solution, not to undercut competitors. Compete first on functionality, not price. If you truly are the only one solving the customer’s problem, you should be able to price your offering based on value of your product/solution to the customer You compete on price only after the product/solution has become a commodity – end of the life cycle
Techies should never hire sales people; they don’t know what skill-sets and personality traits to look for. Test: If it's someone who is too aggressive and a person techies don't want to hang out with, it's probably a good sales guy
Identify the end user of your product or service before you start thinking about Business Development. Even if you do not sell directly to the end users, you should know as much as possible about them. Don't be fooled by the misconception that your target market is "everybody".
Write a detailed plan of action. Prioritize your opportunities and consider partnering with proven and profitable businesses first. It is very common to see announcements of strategic alliances between companies with so-called "ideas" and not solid business models. Don't invest much time talking to your suppliers or companies you have to pay money to. It is their job to give you the best deal. Always assign a monetary value to the deal before exploring it. Form alliances with companies that will bring you revenue first.
Learn as much as you can about the potential partner and their competitors before you contact them. Determine how your deal can make your partner's company more profitable. That is, list all the ways in which your proposed joint agreement adds value your partner's business. What holes does it fill in your partner's product/service line? How does the deal enhance your partner company's core business? How will your product attract more customers to your partner company's business? How does "doing the deal" brace your partner against the trends of the industry, for which they might otherwise be unprepared?
Identify the personal issues. What are the personalities of the people who will be influential in the decision to sign the agreement? What are their personal motivations? Growth/expansion? Hot buttons? Family? Loyalty and commitment to the company they represent? Business process simplification? Eventual merger/acquisition?
Identify the PR potential of the joint agreement. Why is it hot news? To whom, in particular? How can you leverage these PR possibilities in negotiating the deal? How do they add value to the overall equation? Be careful in announcing so-called "strategic alliances" where only a purchase of equipment or services was made.
To insure that the partnership will successfully evolve, commit the necessary resources to insure that the deal is implemented and periodically evaluated. Set guidelines and performance metrics as part of the deal. Involve senior management in every step of the way. Assign a single point of accountability for the deal.
Business development is much more than simply going to trade shows and being a wheeler dealer. Business development is hard work and you must stay focused on the long term. Hopefully the above tips will help you whether you are experienced in biz dev or if the role of business development was thrust upon you due to layoffs, firings or other factors.
-COMMON MISTAKES BY SMALL TO MEDIUM-SIZED COMPANIES
For a sound company able to withstand competitors, business development never stops but is an ongoing process.
Small to medium-sized companies often do not establish procedures for business development, instead relying on their existing contacts. Other times they assume that because they know people in high places that their business development problems are solved and that somehow new business will come to them. The ramifications of such thinking can be significant in the event they are unable to leverage those relationships, which very often are personal or weak. Then they will have no new business in the pipeline.
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