Your employees don’t work for you

January 25, 2016

Via hbr.org   Article

New Managers Should Develop a Leadership Philosophy

“The problems you face as a manager are different from the ones you’ve faced before. Whether you’re juggling conflicting demands, delivering difficult messages, or addressing performance problems, you can set yourself up for success by having a clear management philosophy.

‘Servant leadership’ is one great example. To start thinking like a servant, stop thinking your employees work for you. They don’t — they work for the company, and your job is to facilitate that relationship. So rather than focusing on your personal glory, focus on how you can serve your team, to help them succeed.

When you’re assigning work to someone, think of it as matching that person’s interests with a business goal. When you’re giving feedback, think of it as helping someone understand how they can do the best job possible.

Being a servant may not sound very powerful, but it can deliver what you really need: influence and results.”

Source: Adapted from “New Managers Need a Philosophy About How They’ll Lead,” by Carol A. Walker


Our own dishonesty

January 25, 2016

By Shane Parrish via farnamstreetblog.com   Article

Dan Ariely on How and Why We Cheat

“In The Honest Truth, Ariely … digs into which situations make us more likely to cheat than others. … It’s a how-to guide on our own dishonesty.

  1. Cheating was standard, but only a little.  … A little cheating was everywhere. People generally did not grab all they could, but only as much as they could justify psychologically.
  2. Increasing the cheating reward or moderately altering the risk of being caught didn’t affect the outcomes much. In Ariely’s experience, the cheating stayed steady: A little bit of stretching every time.
  3. The more abstracted from the cheating we are, the more we cheat. … … being more willing to ‘tap’ a golf ball to improve its lie than actually pick it up and move it with our hands.
  4. A nudge not to cheat works better before we cheat than after. … we need to strengthen our morals just before we’re tempted to cheat, not after. …
  5. We think we’re more honest than everyone else. … consistently underestimated their own dishonesty versus others’. …
  6. We underestimate how blinded we can become to incentives. … incentives skew our judgment and our moral compass. …
  7. Related to (6), disclosure does not seem to decrease incentive-caused bias. This reminds me of Charlie Munger’s statement, “I think I’ve been in the top 5% of my age cohort all my life in understanding the power of incentives, and all my life I’ve underestimated it.” …
  8. We cheat more when our willpower is depleted. … Ariely found that when we’re tired and have exerted a lot of mental or physical energy, especially in resisting other temptations, we tend to increase our cheating. …
  9. We cheat ourselves, even if we have direct incentive not to. … even with a strong financial incentive to honestly assess our own abilities, we still think we cheat less than we do …
  10. Related to (9), we can delude ourselves into believing we were honest all along. This goes to show the degree to which we can damage ourselves by our cheating as much as others. …
  11. We cheat more when we believe the world ‘owes us one.’ … When we feel like we’ve been cheated or wronged ‘over here,’ we let the universe make it up to us ‘over there.’ (By cheating, of course.) …
  12. Unsurprisingly, cheating has a social contagion aspect. If we see someone who we identify with and whose group we feel we belong to cheating, it makes us (much) more likely to cheat. …
  13. Finally, nudging helps us cheat less. If we’re made more aware of our moral compass through specific types of reminders and nudges, we can decrease our own cheating.”

 


You aren’t fit to lead

January 25, 2016

By Dan Rockwell via leadershipfreak.wordpress.com   Article

You aren’t fit to lead until …

“If you want to become a remarkable leader, follow a leader of character, conviction, and vision.

Don’t ask people to follow you until you’ve humbly followed someone else.

You aren’t fit to lead until you know how to follow.

Following is perhaps the most neglected development principle of remarkable leadership. Ego wants to be the leader. Humility, on the other hand, aspires to add value and make a difference, regardless of position.

Opportunities:

Opportunities abound for dedicated followers. But opportunities pass by while you’re waiting to become a remarkable leader.

Jimmy Collins, the retired COO of Chick-fil-A, and author of, ‘Creative Followership,’ said, ‘Seeking Leadership roles never produced anything for me. When I chose the follower role there was no end to what I could accomplish.’

Following:

  1. Follow advice from those more knowledgeable.
  2. Follow a vision bigger than yourself.
  3. Follow someone you respect. Get behind the most noble person available.
  4. Follow someone who is going somewhere.

Remarkable leaders are remarkable followers.

Our admiration of big-egoed-leaders degrades us all.

Worry less about becoming a remarkable leader and more about becoming a remarkable follower.”


I just work here

January 25, 2016

By Seth Godin via sethgodin.typepad.com/seths_blog/   Article

Business ethics, ripples and the work that matters

Seth Godin“The happy theory of business ethics is this: do the right thing and you will also maximize your long-term profit.

After all, the thinking goes, doing the right thing builds your brand, burnishes your reputation, helps you attract better staff and gives back to the community, the very community that will in turn buy from you. Do all of that and of course you’ll make more money. Problem solved.

The unhappy theory of business ethics is this: you have a fiduciary responsibility to maximize profit. Period. To do anything other than that is to cheat your investors. And in a competitive world, you don’t have much wiggle room here.

If you would like to believe in business ethics, the unhappy theory is a huge problem.

As the world gets more complex, as it’s harder to see the long-term given the huge short-term bets that are made, as business gets less transparent (‘which company made that, exactly?’) and as the web of interactions makes it harder for any one person to stand up and take responsibility, the happy theory begins to fall apart. After all, if the long-term effects of a decision today can’t possibly have any impact on the profit of this project (which will end in six weeks), then it’s difficult to argue that maximizing profit and doing the right thing are aligned. …

It comes down to this: only people can have ethics. Ethics, as in, doing the right thing for the community even though it might not benefit you or your company financially. Pointing to the numbers (or to the boss) is an easy refuge for someone who would like to duck the issue, but the fork in the road is really clear. You either do work you are proud of, or you work to make the maximum amount of money. (It would be nice if those overlapped every time, but they rarely do).

‘I just work here is the worst sort of ethical excuse. …

I worry that we absolve ourselves of responsibility when we talk about business ethics and corporate social responsibility. Corporations are collections of people, and we ought to insist that those people (that would be us) do the right thing. Business is too powerful for us to leave our humanity at the door of the office. It’s not business, it’s personal.”

 


You want me to lie?

January 18, 2016

Source


Making a difference

January 18, 2016

By  via wildaboutwork.com   Article

“How to be Happier at Work by Making a Difference – People who engage in giving and being of service to others report feeling more engaged, more motivated, and happier.

Make it your mission to make a difference – … Rather than just seeing your work in the context of your job description – what you get paid to do – think about the time you spend at work as a vehicle for having a positive impact. …

Recognize the positive impact of your work – … Start by taking a look at how your work makes a difference, even in small ways. Does it make someone’s life easier? Does it give a co-worker the information they need to do their job …

Acknowledge and recognize – … You don’t have to be in a position of authority to give recognition. Simply acknowledge people’s contribution. Give someone heartfelt thanks. Look for ways to help people feel valued. Write a gratitude note. …

Share knowledge – Look for opportunities to share your knowledge. It might be mentoring someone at an earlier stage of their career to help them navigate the path and thrive. It might be a particular skill you have that would be beneficial (e.g., how to communicate effectively). Or it might be helping new hires learn the ropes. …

Generate and implement ideas – Be on the constant lookout for ways to make things better. That might entail bottom line driven ideas like how to save money or make money, or it could simply be ideas for how to improve the quality of life on the job for the people you work with. …

Cultivate community and connection – One way to make work a better place is to help cultivate a sense of community. Wherever you are on the org chart, you can contribute to this. It might be as simple as initiating regular lunch gatherings with the people you work with. …

Be the change – Ask yourself, ‘What kind of workplace do I want to experience?’ Then make it your mission to embody that. How can you contribute to the environment you want to experience? Some examples of how you can “be the change” include:

  • Look for opportunities for acts of kindness.
  • Be a role model for positive attitude.
  • Refuse to join in on the negative (i.e., bitch-n-moan), and when possible, defuse it when others do.
  • Focus on what’s possible. Be a voice for possibility.”


Restricted and float

January 18, 2016

By Investopedia Staff via investopedia.com   Article

The Basics Of Outstanding Shares And The Float

Restricted and Float
When you look a little closer at the quotes for a company, you may see some obscure terms that you’ve never encountered. For instance, restricted shares refer to a company’s issued stock that cannot be bought or sold without special permission by the SEC. Often, this type of stock is given to insiders as part of their salaries or as additional benefits. Another term you may encounter is “float.” This refers to a company’s shares that are freely bought and sold without restrictions by the public. Denoting the greatest proportion of stocks trading on the exchanges, the float consists of regular shares that many of us will hear or read about in the news.

Authorized Shares
Authorized shares refer to the largest number of shares that a single corporation can issue. The number of authorized shares per company is assessed at the company’s creation and can only be increased or decreased through shareholders’ vote. If at the time of incorporation the documents state that 100 shares are authorized, then only 100 shares can be issued.

But just because a company can issue a certain number of shares doesn’t mean it will issue all of them to the public. Typically companies will, for many reasons, keep a portion of the shares in their own treasury. For example, company XYZ may decide to maintain a controlling interest within the treasury just to ward off any hostile takeover bids. On the other hand, the company may have shares handy in case it wants to sell them for excess cash (rather than borrowing). This tendency of a company to reserve some of its authorized shares leads us to the next important and related term: outstanding shares.

Outstanding Shares
Not to be confused with authorized shares, outstanding shares refer to the number of stocks that a company actually has issued. This number represents all the shares that can be bought and sold by the public, as well as all the restricted shares that require special permission before being transacted. As we already explained, shares that can be freely bought and sold by public investors are called the float. This value changes depending on whether the company wishes to repurchase shares from the market or sell out more of its authorized shares from within its treasury.”