December 31, 2017

December - Management Knowledge Revision


December (Business Laws, Negotiation, Taxes and Government Relations)

New

First Week - 1 to 5 December

Business Law - USA
https://www.sba.gov/category/navigation-structure/starting-managing-business/starting-business/business-law-regulations


Advertising and Marketing Law
https://www.sba.gov/starting-business/learn-about-business-laws/advertising-marketing-law

Employment and Labor Law
https://www.sba.gov/starting-business/learn-about-business-laws/employment-labor-law

Finance Law
https://www.sba.gov/starting-business/learn-about-business-laws/finance-law

Online Business Law
https://www.sba.gov/starting-business/learn-about-business-laws/online-business-law

Regulation of Financial Contracts
https://www.sba.gov/starting-business/learn-about-business-laws/regulation-financial-contracts


Business Taxes - USA
https://www.irs.gov/Businesses


Small Business Tax Center
https://www.irs.gov/businesses/small-businesses-self-employed

Large Business and International Tax Center
https://www.irs.gov/businesses/large-business-and-international-tax-center

Deducting Business Expenses
https://www.irs.gov/businesses/small-businesses-self-employed/deducting-business-expenses

Excise Tax
https://www.irs.gov/businesses/small-businesses-self-employed/excise-tax


Second Week - 8 to 12, December

Negotiation Related Knowledge

Negotiations - Knowledge, Research and Skills
http://nraomtr.blogspot.com/2017/12/negotiations-knowledge-research-and.html


Six Surprising Negotiation Tactics That Get You The Best Deal
http://www.forbes.com/sites/work-in-progress/2013/12/05/six-surprising-negotiation-tactics-that-get-you-the-best-deal/
(Based on Wharton Professor Adam Grant's Book Give and Take

7 Negotiation Techniques Every Small Business Owner Should Know
http://www.huffingtonpost.com/2013/10/30/negotiating-tips-small-business_n_4058588.html


10 Techniques for Better Negotiation
http://www.startupnation.com/articles/10-techniques-for-better-negotiation/

Archive - Program on Negotiation - Harvard Law School
http://www.pon.harvard.edu/tag/negotiation-techniques/


http://www.pon.harvard.edu/daily/dealmaking-daily/negotiation-skills-and-negotiation-techniques-predicting-negotiator-decisions-and-behavior/

Negotation Techniques - An Introduction
http://web.mit.edu/negotiation/www/NTintro.html


Ten Tips to Convince Buyer to Pay More
http://www.negotiationbootcamp.com/NegotiationArticles/TipsForPriceNegotiation.html

Principled versus Positional Negotiation for Purchasing Professionals
79th Annual International ISM Conference Proceedings - 1994 - Atlanta, GA
https://www.instituteforsupplymanagement.org/pubs/Proceedings/confproceedingsdetail.cfm?ItemNumber=5205&SSO=1


Third and Fourth Weeks are left free as year-end vacation.

Bookmark and Visit on 15 January to start 2018 Revision


Industrial Engineers support Engineers and Managers in Efficiency Improvement of Products, Processes and Systems



One Year MBA Knowledge Revision Plan


January  - February  - March  - April  - May   -   June

July  - August     - September  - October  - November  - December


Old


First Week

Economics of Advertising - Economics for the CEO - Managerial economics

Managerial Economics of Basic Price - Joel Dean


Product-Line Pricing - Managerial Economics

Economics of Price Differentials - Joel Dean


Economics of Capital Budgeting - Joel Dean


Operations Management

Introduction to the Field of Operations Management
Operations Strategy and Competitiveness - Review Notes

Optimizing the Use of Resources with Linear Programming

Operations Management shifted to March

Third and Fourth Weeks are left free as year-end vacation.

One Year MBA Knowledge Revision Plan

January  - February  - March  - April  - May   -   June

July  - August     - September  - October  - November  - December



Updated 8, 6 December  2017, 1 December 2016,  11 December 2015






December 21, 2017

Leadership - Subject Update




2018

To create the right climate, you need leadership, not GREEDership.
http://www.noelaferguson.com/blog-single-170606.php

2017


December 2017

If You Aspire to Be a Great Leader, Be Present
Rasmus Hougaard and Jacqueline Carter
HBR, DECEMBER 13, 2017
https://hbr.org/2017/12/if-you-aspire-to-be-a-great-leader-be-present?

Nov 11, 2016 Accenture Veterans Day Keynote
________________


________________

________________

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RASMUS HOUGAARD AT MINDFUL LEADERSHIP SUMMIT – WASHINGTON DC

________________

________________

The Potential Project Upload

August 2017

 Leadership Instincts: Listen, Amplify, Include
General Martin E. Dempsey
August 25, 2017
https://www.linkedin.com/pulse/leadership-instincts-listen-amplify-include-general-martin-e-dempsey

22 Qualities That Make a Great Leader
https://www.entrepreneur.com/article/270486

June 2017

The 10 (and a Half) Commandments of Leadership

10 Questions Great Bosses ask periodically
https://leadingwithtrust.com/2017/04/30/10-questions-great-bosses-regularly-ask-their-people/

The Dynamics of 8 Different Styles of Leadership
April 11, 2017 - by  Paul E. Fein
https://www.td.org/Publications/Blogs/Management-Blog/2017/04/The-Dynamics-of-8-Different-Styles-of-Leadership

Four Behaviors That Define Successful Leaders
Elena Lytkina Botelho

May 2017

45 Questions Every Leader Should Answer

By Frank Sonnenberg
http://www.franksonnenbergonline.com/blog/45-questions-every-leader-should-answer/

Good Bosses Switch Between Two Leadership Styles

Jon Maner
Jon Maner is a professor of management and organizations at Kellogg School of Management, Northwestern University.
DECEMBER 05, 2016, HBR Article

The two styles are termed Dominance and Prestige. They could have been termed Single Person Dominance (Lone Boxer) and Team Decision Making (Foot Ball Team).
https://hbr.org/2016/12/good-bosses-switch-between-two-leadership-styles

Related
http://jon-maner-dev.squarespace.com/publications-case/the-essential-tension-between-leadership-and-power

https://www.psychologytoday.com/blog/sex-murder-and-the-meaning-life/201606/what-kind-leader-are-you

http://www.cnbc.com/2016/11/01/bossy-vs-buddy-two-leadership-styles-each-with-its-place.html



2016

http://www.leadershipissues.com/

Leadership Freak - A popular blog on leadership      https://leadershipfreak.blog/

What Great Managers Do Daily

Ryan Fuller & Nina Shikaloff
HBR
DECEMBER 14, 2016
https://hbr.org/2016/12/what-great-managers-do-daily

Decoding Leadership: What really matters


Our most recent research, however, suggests that a small subset of leadership skills closely correlates with leadership success, particularly among frontline leaders. Using our own practical experience and searching the relevant academic literature, we came up with a comprehensive list of 20 distinct leadership traits. We did a survey and  found  that leaders in organizations with high-quality leadership teams typically displayed 4 of the 20 possible types of behavior; these 4, indeed, explained 89 percent of the variance between strong and weak organizations in terms of leadership effectiveness .

• Solving problems effectively: The process that precedes decision making is problem solving, when information is gathered, analyzed, and considered.

• Operating with a strong results orientation: Leadership is about not only developing and communicating a vision and setting objectives but also following through to achieve results. Leaders with a strong results orientation tend to emphasize the importance of efficiency and productivity and to prioritize the highest-value work.

• Seeking different perspectives: This trait is conspicuous in managers who monitor trends affecting organizations, grasp changes in the environment, encourage employees to contribute ideas that could improve performance, accurately differentiate between important and unimportant issues, and give the appropriate weight to stakeholder concerns. Leaders who do well on this dimension typically base their decisions on sound analysis and avoid the many biases to which decisions are prone.


2015





The Art of Giving and Receiving Advice.


Periodical
By: Garvin, David A.; Margolis, Joshua D. Harvard Business Review. Jan/Feb2015, Vol. 93 Issue 1/2, p60-71.


Seeking and giving advice are central to effective leadership and decision making, and they require emotional intelligence, self-awareness, restraint, diplomacy, and patience on both sides. In this article, the authors argue that they are practical skills one  can learn and apply to great effect. The most common obstacles to effectively seeking and giving advice are  thinking one already has the answers, defining the problem poorly, and overstepping boundaries.  They  offer practical guidelines for getting past them.


Five stages of advising are identified: (1) finding the right fit; (2) developing a shared understanding; (3) crafting alternatives; (4) converging on a decision; and (5) putting advice into action. Each stage includes suggestions for seekers and for advisers.



The Authenticity Paradox. 

By: Ibarra, Herminia. Harvard Business Review. Jan/Feb2015, Vol. 93 Issue 1/2, p52-59.

INSEAD professor Herminia Ibarra argues, a simplistic understanding of what authenticity means can limit leaders' growth and impact.  In this article, Ibarra explains how leaders can develop an "adaptively authentic" style.  It's OK to change tactics from one day to the next, she says by figuring  out what's right for the challenges and circumstances we face.




2014

July

The Skills Leaders Need at Every Level

by Jack Zenger and Joseph Folkman
HBR Blog Post
16 Skills are listed in order of importance. Top 7 are said to be important.

1. Inspires and motivates others.
2. Displays high integrity and honesty
3. Solves problems and analyzes issues
4. Drives for results
5. Communicates powerfully and prolifically
6. Collaborates and promotes teamwork
7. Builds relationships
http://blogs.hbr.org/2014/07/the-skills-leaders-need-at-every-level/

Leadership Development Beyond Competencies: Moving to a Holistic Approach
Marian N. Ruderman, Cathleen Klerkin, and Carol Connelly
Center for Creative Leadership - White Paper
http://www.ccl.org/leadership/pdf/research/LeadershipDevelopmentCompetencies.pdf

Book review of Jane Dutton and Gretchen Spreitzer, How to Be a Positive Leader: Small Actions, Big Impact.
http://positivepsychologynews.com/news/kathryn-britton/2014073029174





2013

December

How to be a better boss?

Ask a person whether he wants to recommend his boss to his friends as the ideal boss to work under.
http://sloanreview.mit.edu/article/how-to-be-a-better-boss/

May
Knowledge@Wharton article
Social Technology and the Changing Context of Leadership
Social technology is changing the way leaders do conversations with their group members especially in large organizations. The article presents ideas on this issue
http://wlp.wharton.upenn.edu/LeadershipDigest/social-technology.cfm

2012
Sloan Management Review Article Spring, March 2012

How to Become a Better Leader

The article describes Big 5 Personality factors and use of them in developing oneself as a better leader.
http://sloanreview.mit.edu/article/how-to-become-a-better-leader/


Leadership Basic Articles

Organizational Behavior Articles

Theories of Leadership 
Cognitive Resources Theory of Leadership
Leadership Styles, Roles, Activities, Skills and Development

Principles of Management Articles


Updated  22 December 2017,  22 August 2017,  24 June 2017,  6 June 2017,  29 May 2017,  22 February 2017, 6 December 2016, 12 October 2016, 10 December 2015

December 18, 2017

New CEO's Turnaround Effort - Success and Failure




The Transformations That Work—and Why
BCG.com
NOVEMBER 7, 2017
By Hans-Paul Bürkner , Lars Fæste , Jim Hemerling , Yulia Lyusina , and Martin Reeves
https://www.bcg.com/publications/2017/transformations-people-organization-that-work-why.aspx


A New CEO's Turnaround Success Based on Listening to Employees and Customers

A New CEO's Turnaround Project - Important Points

I spent most of my first 90 days out in operations and in the field listening — to my employees,  to customers, to suppliers. Listening, watching, evaluating the situation, the opportunity, the constraints and the possible solutions to decide  the steps were that needed to be taken. The decision making was made into a more decentralized model.

You should not attempt to fix a company without data from the trenches. You have get into your employee’s shoes, and your customer’s shoes. Know what problems are to be solved and then only come with solutions.

People at their core want to be part of something successful. To make them a part of successful venture from now make them believe that they’re part of planning the venture. Make them feel good of their 5, 10, 15 years of experience. Tell them it is worth something. Their opinions were worth something. You give that respect to  an equipment operator, a plant foreman, and plant manager. Make them feel proud of their knowledge and skill.

As a CEO who joined recently, trust them first. Back them in their routine activities and they will trust you and participate in strategy development. Make progress and share the benefits of the progress with all employees.

The new CEO has to harvest the collective wisdom gained over years of experience by large number of employees, and then motivate them through good leadership demonstrated to the next level of managers and asking them to exhibit similar style down the line. A CEO can’t be everywhere. But leadership style, performance culture, and a work environment that was supportive of each other can be everywhere in the organization.

The CEO: Sandbrook of US Concrete

http://www.leadersmag.com/issues/2016.4_Oct/ROB/LEADERS-William-Sandbrook-U.S.-Concrete.html

https://www.dallasnews.com/business/business/2017/06/01/toyotas-hq-one-world-trade-center-union-dallas-common-euless-based-concrete-company

http://knowledge.wharton.upenn.edu/article/what-leaders-gain-by-listening-closely-to-employees/

http://chiefexecutive.net/bill-sandbrook-shoring-u-s-concrete/

Updated 19 December 2017, 3 July 2017

December 10, 2017

April - The Marketing Month for A to Z April Blogging Challenge Bloggers



Every April, a group of bloggers are coming together and organizing A to Z April Blogging Challenge. The challenge is a fairly regular feature and many bloggers participate in the challenge year after year. What are the opportunities and challenges of this blogging event?

Bloggers can come in touch with many bloggers. Thousands participate in the challenge every year.

Bloggers are encouraged to visit others' blog and interact with fellow bloggers through comments. Therefore, you come in touch with new bloggers through you comments and comments on your blogs.

You can observe some of the best blogging practices of the current period.

The challenge month, April must be used as your blog marketing month. You are advised to create the posts in advance so that you can spend more time in marketing your blog posts through interaction with fellow bloggers.




To Know More About A to Z Blogging Challenge




December 7, 2017

Negotiations - Knowledge, Research and Skills



Negotiation Skills



Negotiation skills are becoming increasingly recognized as important to effective management and personal success.

Research at one time identified some common mistakes being made in negotiations.

1. Negotiating persons tend to be overly affected by the frame, or form of presentation, of information in a negotiation.
2. Even when a course of action is no longer the most reasonable alternative, negotiators tend to nonrationally escalate commitment to a previously selected or advocated course of action.
3. Negotiators tend to assume that their gain must come at the expense of the other party and thereby miss opportunities for mutually beneficial trade-offs  between the parties.
4. Negotiators judgments tend to be anchored on irrelevant information, such as initial offer.
5. Negotiators tend to rely on readily available information.
6. Negotiators tend to fail to consider information that is available by focusing on the opponent's perspective.
7. Negotiators tend to be overconfident concerning the likelihood of attaining outcomes that favor the individual(s) involved.

 Traditionally, negotiators have depended on distributed and positional bargaining. Distributed bargaining assumes a "fixed pie" and focuses on how to get the biggest share, or "slice of the pie" for the benefit of the negotiating party. Positional bargaining approach involved successively taking and then giving up, a sequence of positions. A position involves telling the other side what you want.

Strategies called soft and hard are used in traditional ways of negotiating.  Characteristics of the "hard strategy" include the following: the goal is victory, distrust others, dig into your position, make threats, try to win contest of will, apply pressure.

Soft strategy includes characteristics: The goal is agreement, trust others, change your position easily,  make offers,  try to avoid a contest of will, and yield to pressure.


The traditional approach is now being challenged by more effective alternative negotiation skills.

Whetten and Cameron suggest an approach that takes an "expanding the pie" perspective and advocates finding win-win outcomes. The approach recommends:
1. Establishing superordinate goals.
2. Separating people from the problem
3. Focusing on interests, not positions
4. Inventing options for mutual gain.
5. Using objective criteria.

In terms of negotiation techniques or manoevres the following are identified as in use by negotiators.

 Practical low-risk strategies include flattery, addressing the easy points first, silence, inflated opening position, and "oh, poor me."

High-risk strategies include unexpected temper losses, high-balling, Boulwarism, and waiting until the last moment.

Harvard Negotiation Project came up with principled negotiation approach or negotiation on the merits approach. This is an  integrative approach, which uses a problem-solving, collaborative strategy, and the principled, or negotiation on the merits approach, which emphasizes people, interests, options, and criteria. These negotiation skills  change the game, leading to a win-win, wise agreement.

Along with social, emotional, behavioral, leadership, team, and communication skills, negotiation skills are becoming increasingly recognized as important to effective management.



Principled Negotiation Approach



Positional style of negotiation,

With the positional style of negotiation, each party starts with an extreme (may be unjustified) position. The basis for this approach is the belief that the ultimate solution will be favorable only if the initial offer is extreme and concessions are done. But it is zero-sum game. One party will win and one will lose and in many case of street buying situations, seller comes down drastically.

But deals and settlements in positional negotiations come with a steep non- monetary price. Trust becomes the victim and in the next negotiation also both parties bargain heavily. Thus, the process creates (or perpetuates) an adversarial relationship between the two parties.

Principled negotiation seeks to establish a foundation and climate where parties can be creative in searching for mutually beneficial solutions to a shared problem. This approach preserves, and may even enhance, ongoing relationships.

Four basic elements of principled negotiation were put forth by Fisher and Ury (1991) in their book Getting to Yes (1981).


FOUR PRINCIPLES -  PRINCIPLED NEGOTIATION


People -- Separate the people from the problem.
Interests -- Focus on interests, not positions.
Options -- Generate a variety of possibilities before deciding what to do.
Criteria -- Insist that the result be based on some objective standard.


Four Negotiation Skills For Regular People
https://www.thehedgescompany.com/four-negotiation-skills-regular-people/


Principled versus Positional Negotiation for Purchasing Professionals
79th Annual International ISM Conference Proceedings - 1994 - Atlanta, GA
 https://www.instituteforsupplymanagement.org/pubs/Proceedings/confproceedingsdetail.cfm?ItemNumber=5205&SSO=1



Recent Articles on Negotiations - Quotes

Negotiation Is Changing
Noam Ebner
Journal of Dispute Resolution, Vol. 2017 (1), 99-143.
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2915204


Abandon zero-sum games in transactions and deals  

Claim up to 42% more value.
(quote created by NRao)

At MarketWatch Centre for Negotiation, we’ve found that negotiators can claim up to 42% more value in a deal by abandoning zero-sum games and creating a relationship based on trust and collaboration.
Why Negotiators Still Aren't 'Getting To Yes'
Keld Jensen, FEB 5, 2013
https://www.forbes.com/sites/keldjensen/2013/02/05/why-negotiators-still-arent-getting-to-yes/#1b6c1a9f2640


More References on Negotiation

IVY EXEC - Articles on Negotiation
https://www.ivyexec.com/executive-insights/category/advancing/negotiation-skills/


Books on Negotiation Skills


Negotiating at Work: Turn Small Wins Into Big Gains

Deborah M. Kolb, Jessica L. Porter
John Wiley & Sons, 27-Jan-2015 - Business & Economics - 288 pages


Understand the context of negotiations to achieve better results

Negotiation has always been at the heart of solving problems at work.  What has been missed in much of the literature of the past 30 years is that negotiations in organizations always take place within a context—of organizational culture, of prior negotiations, of power relationships—that dictates which issues are negotiable and by whom. When we negotiate for new opportunities or increased flexibility, we never do it in a vacuum. We challenge the status quo and we build out the path for others to negotiate those issues after us. In this way, negotiating for ourselves at work can create small wins that can grow into something bigger, for ourselves and our organizations.

Negotiating at Work offers practical advice for managing your own workplace negotiations: how to get opportunities, promotions, flexibility, buy-in, support, and credit for your work. It does so within the context of organizational dynamics, recognizing that to negotiate with someone who has more power adds a level of complexity. 

 Negotiating at Work is rooted in real-life cases of professionals from a wide range of industries and organizations, both national and international.

Strategies to get the other person to the table and engage in creative problem solving, even when they are reluctant to do so
Tips on how to recognize opportunities to negotiate, bolster your confidence prior to the negotiation, turn 'asks' into a negotiation, and advance negotiations that get "stuck"
A rich examination of research on negotiation, conflict management, and gender
By using these strategies, you can negotiate successfully for your job and your career; in a larger field, you can also alter organizational practices and policies that impact others.
Preview
https://books.google.co.in/books?id=F7FYBQAAQBAJ






Training Materials

Advanced Labor Negotiations
US Army, 1985
https://babel.hathitrust.org/cgi/pt?id=uva.x030450211;view=1up;seq=1


Updated 8 December 2017, 5 December 2017

Organizational Behavior Book by Fred Luthans - Review Notes

Organizational behavior is concerned with behavior of people. How they are going to respond to the actions of their colleagues, the supervisors and managers and also customers and suppliers are discussed in this subject.  The knowledge of this subject is to be converted into skills by adequate role plays and well designed procedures that students and readers can practice in their day to day interactions.

1. Introduction to Organizational Behavior

2. Environmental context: Information Technology and Globalization

3. Environmental context: Diversity and Ethics

4. Organizational Context: Design and Culture

5. Organizational Context:: Reward Systems

Cognitive Processes

6. Perception and Attribution

7. Personality and Attitudes

8. Motivational Needs and Processes

9. Positive Psychology Approach to OB

Dynamics of Organizational Behavior

10. Communication

11. Decision Making

12. Stress and Conflict - Negotiation Process (in more detail)

13. Power and Politics

14. Groups and Teams

Managing and Leading for High Performance

15. Managing Performance through Job Design and Goal Setting

16. Behavioral Performance Management

17. Effective Leadership Process

18. Great Leaders: Styles, Activities, and Skills


MBA Knowledge Revision Schedule


January  - February  - March  - April  - May   -   June

July       - August     - September  - October - November  - December


Updated 9 December 2017, 27 June 2014