Team with best players wins

Leadership in the 21st century, 6/18/12


This game is all about people
**********************************
The team that fields the best players wins
**********************************
Your job as a leader - is to always field the best team; never stay satisfied with quality of the team; keep fighting to make it better and better
When you have a meeting with somebody eg budget review, go beyond numbers review and use it as an evaluation opportunity ? Do they have Passion - what they think they can or not do? Do they include others in the room ?

Dr DP

Leadership - It is about the Team, not about You

Leadership in the 21st Century, 6/18/12

"When you become a leader for the first time
What should you do to take charge of a team and be a good leader ?"
Jack & Suzy Welch vide, Week1

(1) Assess the situation
*************************
Go out & assess what is happening
Talk to your people; let them tell you what they think is needed
Listen, take it all in

(2) Assess them
****************
are they whiners? leaders ? action oriented people ?
Get a feel for them.

(3) Get your plan together
**********************
Recognize right away it is not about you
You want a team who can deliver for you - So it is all about them
Get the best players in place - coach, encourage, if they don't deliver talk to them; let them know where they stand; let them know what they are doing well; Let them know what they have to do to improve; Move them out if they are not delivering
Build a great team - it is about them
Be proud of them - get the reflected glory

Your reward comes from all the good stuff they do
Coach, encourage, reward, be proud of them, brag about them
They'll take care of you with their performance

Jack Welch video Week2
**********************
Leadership is all about building a team with great people
Strategy & High Faluting ideas aside, the Team that has best players wins

You as a leader have an enormous responsibility to build a great team - that is your job.
It's all about them, not about you.
Evaluate, praise, let everyone know where they stand, be candid and build a great team.

Dr DP

Foundations of Leadership

Leadership in the 21st Century, 6/18/12 

 

I have learned the following key principles that make up the foundation of outstanding leadership:

(i)              Difference between a leader, manager and an individual contributor

(ii)            Emotional Intelligence is more critical for leadership than IQ and Technical skills

(iii)          DiSC types – with my “i” type personality I am a fast moving people-oriented person.

(iv)          Existence of mind traps – I am at risk for anchoring,  confirming bias, overconfidence traps.

(v)            Vroom Yetton Decision Making model – A framework to determine when to take the decision myself (S), when to Consult(C) a few members, and when to allow the entire Group to participate and take a decision

(vi)          Thomas Kilman Conflict Mode instrument – Compete, Collaborate, Compromise, Accommodate, Avoid depending on the situation

(vii)        Crisis Leadership – lead from the front rather than letting media define you. Use the right combination of leadership style. Use autocratic or pace setting styles for the short term and Authoritative style along with affiliative, democratic and coaching styles over long term.

(viii)      Whistle blowers – investigate every whistleblower’s complaint thoroughly.

(ix)          Candor – get every brain engaged, unclutter and increase speed in decision making.

(x)            Celebrate Differences – do not try to change character; play to people’s strengths.

(xi)          Coach – do not set people up for failure. Take the time to develop people. Listen.

(xii)        Six Sins of Leadership – Not giving self-confidence its due, muzzling voice, acting phony, lacking the guts to differentiate, fixation on results over values, skipping the fun part

(xiii)      Crucible moments – to see opportunity in intense situations and reflect on what I truly value most. Translate adversity into something enduring and positive.

(xiv)       Manage Up – over deliver and broaden the horizon of the upper manager.  Think of big ideas that can improve productivity and make everyone look good.

(xv)         Business of Winning – Business is the engine of society. By building strong businesses we can give to communities and create a better world. Business is fun. Play to win !

I feel transformed by this course and will be making several changes going forward. First, my weakness due to “i” DiSC style is a predisposition to sometimes miss accuracy in details. I will therefore pay greater attention to details. Second, I will avoid the 6 sins of leadership as well the mind traps to make better decisions. Third, Jack Welch’s 8 steps of leadership have given me a framework I plan to use for the rest of my life to continuously evolve as a great leader both at work and in life. Additionally, I feel much more confident about handling crisis situations – the existence of difference leadership styles is a revelation to me.

Jack Welch has asked to eliminate grey areas while making decisions. I value this advise tremendously and have resolved to run my business free of corruption and bribes. Furthermore, Lencioni’s five principles of leadership taught me the dysfunctions to look out for in teams. The class exercises, discussions and team project gave me a chance to internalize the principles. I know what to do now to elevate the performance of my teams. 

I feel thrilled, excited and energized by this course and I wish to take this moment to thank Dr Valerie Opher for her continuous reminders about critical thinking, improving my writing skills, encouraging discussions. I also am grateful to my classmates for making it such a memorable learning experience. 

clearly JWMI is among the finest centers of learning on the planet

Dr DP 

Team vs Group - what's the big deal ?

 Leadership in the 21st Century, Week 11, 6/18/12

What is the difference between a team and a work group ?

A team is a small group of people with complementary skills, committed to a common purpose, and a set of performance goals, to which they hold each other accountable. A good team usually has a purposing activity when they come together to discuss and decide on goals. With a high level of trust and commitment, they engage in creative conflict, commit to the team’s decisions, hold peers accountable and focus on the team’s results. Leadership is shared and accountability is individual as well as mutual. Good teams translate the broader organizational objectives into specific and measurable goals. Team members come together to discuss, decide, problem-solve and do real work together. Open-ended discussions are encouraged. Individual members do not hesitate to take responsibility outside their own. Two or more members work together and create work products. Performance of a team is a function of individual work as well as the collective work products. 

            A group may have a strong leader and a set of individuals. The purpose of the group is the same as that of the broader organization. Members come together to discuss, decide and delegate. Effectiveness is measured indirectly through influence on other teams. Meetings are run efficiently. But because of the focus on individual work and the absence of collective work products, groups are less effective than teams.

How many times do we confuse a group for a team ? Great leaders know the difference.

Dr DP

Leader vs Manager - what's the difference ?

Leadership in the 21st Century, Week 11, 6/18/12

What is the difference between management and leadership and how do they function in an organizational setting ?

Fundamentally, leadership deals with change while management deals with complexity. Role of a leader is to provide a compelling vision for the organization and set a direction. A good leader thinks of big ideas, develops a strategy, anticipates changes in the marketplace and prepares his or her organization to adapt quickly and cope with change. 

Jack Welch highlights eight specific responsibilities for a leader:

(1) Build great teams - The team with the best players wins and so relentlessly upgrade the team. Never be satisfied with the quality of a team. At every opportunity evaluate, coach and build self-confidence.

(2) Values - Ensure that people not only see the values but live and breathe it. Values must support a mission and must specify expectations for employees’ behaviors. Leaders define the culture and set a high bar for ethical action. Leaders cultivate emotional intelligence (EI).

(3) Optimism - Leaders get under the skin of their employees, exuding positive energy and optimism.

(4) Trust – Leaders build trust with candor, transparency and credit. With emphasis on candor, leaders engage every brain in the game, unclutter bureaucracy and drive up the speed of decision making.

(5) Courage – Leaders have the courage to make unpopular decisions through gut calls.

(6) Question – Leaders question and probe with curiosity, bordering on skepticism, making sure their questions are answered with actions.

(7) Inspire – Leaders inspire risk taking and learning by setting an example.

(8) Celebrate – Leaders celebrate accomplishments and never skip the fun part.

The role of a manager is to support the leader’s vision by taking care of details in complexity and execution. Specifically, Jack Welch points out that a manager has four major responsibilities:

(1) Planning & Budgeting – Managers are responsible for delivering results in a predictable manner, always on time and within budget

(2) People – Pick the right people for the right job. Set performance goals and measure behavior. Motivate, encourage, guide and counsel employees. Create individual development plans. Differentiate performance and decide on fair rewards. Create an environment where employees can excel and innovate. Encourage diversity, celebrate differences and play to people’s strengths.

(3) Performance – Track performance versus target and problem-solve by removing obstacles.

(4) Policies – Articulate clearly the business conduct guidelines, management policies & protocols.

crystal clear insights from Jack Welch
Dr DP

Global Ethics & Critical Thinking

Business Communication & Ethics, Week10 Summary, 6/10/12
Jack Welch Management Institute

What a run it has been. The last lap took a ton of effort and there are a lot of takeaways for me to think about during the rest of my life. Here are the quick highlights and then the deep dive into details.

I. AES case gives a fantastic experience to see a global ethics framework from multiple perspectives.

II. I learned that defining core values alone is insufficient to guide a company through ethical dilemmas and that companies must evolve specific business conduct guidelines (BCG) to spell out employee behaviors expected in various thorny situations. The next time I sign the annual IBM's BCG certification I will pay a lot more attention than I have been giving over the last several years.

III. There are three guiding principles to shape ethical behavior across transnational projects
(a) Respect for core human values - absolute moral threshold for all business activities
(b) Respect for local traditions - but taking a bold stand when ethical standards are below US threshold
(c) The belief that context matters when deciding what is right and what is wrong - empowering managers to make balanced decisions

III. Critical Thinking Process for a well considered decision
I will be using the handy checklist below at work to make robust decisions going forward

1. State the problem under inquiry clearly and precisely - beware of framing bias
2. Engage the right people - get diverse perspectives for breadth and depth; do not commit to a solution prematurely
3. Raise the right questions and be open minded - recognize assumptions, implications, consequences and be willing to learn; reformulate the problem where needed
4. Focus on the decision to be taken
5. Gather and assess relevant information - critically examine sources of information; use concepts and ideas to interpret the information accurately and effectively
6. Develop well-reasoned conclusions and solutions
7. Understand Consequences - short & long term; downside and upside
8. Decide - steering clear of decision making traps (Hammond et al, HBR1998)
9. Test the solutions against relevant criteria and standards including playing the devil's advocate
10. Communicate effectively with others and iterate to get to the solutions

More detailed notes below.

I can see my ethical perspective soaring to new heights.
what a great education !

Dr DP

JWI 505, Business Communication & Ethics, Week10 Summary

I. HBR case study - AES Global Values
**********************************************
The case gave a great look inside a company attempting to balance the economic, social and environmental costs in India and redefining its notion of social responsibility in the process. As someone who has seen the impact of multi national companies from the grass roots perspectives in India, I could appreciate the point of view from the corporate side and see the gaps in thinking. I believe I have come to some very different conclusions compared to my class mates as some of the answers the AES is looking for cannot be found easily in libraries but in the hearts and minds of the people who make up the society in rural India, where complex socio-political forces are at play. Nontheless, I have learned a great deal from the perspectives expressed in the class discussions.


II. Donaldson, Ethics Away from Home (HBR, 1996)
************************************************************
Standards of ethical conduct defined by: shared attitudes, familiar laws, judicial procedures
What happens when host country's ethical standards are lower than home country's?
Rethink the assumptions and business practice in foreign settings what works in home country may fail in a host country
Are there principles to work through a maze of cultural differences and establish code of conduct for globally ethical business practice?

Cultural Relativism: No international rights and wrongs; when in Rome do as Romans do else forefeit business opportunities
**********************
Limitation - Morally blind. There are fundamental values that cross cultures, companies must uphold them

Asbolutism - Ethical Imperialism: Do everywhere exactly as you do at home;
****************************************************************************************
-there is a single list of moral truths (problem: different cultural traditions must be respected)
-that moral truths can be expressed with only one set of concepts
-they call for exactly the same behavior

Belief in a global standard of ethical behavior

Context must shape ethical practice. Cultures have different standards of ethical behavior - different ways of handling unethical behavior. Absolutist approach may therefore be a disastrous mistake. Managers need to be aware of culture's attitudes toward ethics

If companies can either adopt a host country's ethics nor extend the home country's standards
************************************************************************************************************
Three Guiding Principles
******************************
Managers must distinguish between practices that are merely different and those that are wrong
For relativists nothing is sacred and nothing is wrong
For absolutists many things that are different are wrong
To shape ethical behavior
(a) Respect for core human values - absolute moral threshold for all business activities
(b) Respect for local traditions
(c) The belief that context matters when deciding what is right and what is wrong

Respect for local traditions should not be confused with respect for cultural relativism
Some practices are clearly wrong eg Union Carbide, Bhopal, India
Company's execs seriously underestimated how much on-site management involvement was needed to compensate for country's poor infrastructure and regulatory capabilities
Disastrous gas leak lesson : companies using sophisticated technology in a developing country must evaluate that country's ability to oversee its safe use

Defining the ethical threshold: Core Values
*************************************************
Some hard truths must guide managers' actions - core human values; minimum ethical standards for all companies
(1) Right to good health
(2) Right to economic advancement, improved standard of living
(3) Golden Rule - Reciprocity; do not do to others what they do not want done to themselves

Shared attitudes about what it means to be human:
Individuals must not treat others simply as tools - they must recognize the person's value as a human being
Individuals and communities must treat people in ways that respect people's basic rights
Members of community must work together to support and improve the institutions on which the community depends

Common Human Values
****************************
Individual Liberty, Egalitarianism, Political Participation, Human Rights

Respect for human dignity:
******************************
create and sustain a corporte culture where people's intrinsic values are acknowledged; not see employees customers and suppliers as a means to an end
Produce safe products and services in a safe workplace

Respect for basic rights
***************************
Support and protect individual rights of employees, customers, surrounding communities
Avoid relationships that violate human beings' right to health, education, safety, adequate standard of living

Good citzenship
********************
Support essential social institutions eg. economic system, education system, working with host govts, orgnznss to protect the environment


Core values are a Moral compass for business practice
****************************************************************
Help companies identify practices that are acceptable and those that are intolerable - even if practices are compatible with host country's norms and laws
eg. violations of core values
-Dumping pollutants  near people's homes
-accepting inadequate standards for handling hazmats
-employing children prevents them from receiving a basic educaton
-Lying about product specifications violates trust that is needed to sustain a corporate culture in which customers are respected
-Sometimes it is not a company's actions but those of a supplier or customer that pose problems
Tan family - supplier of Levi Strauss; forced 1200 Chinese and Filipino women to work 74 hrs/wk in guarded compounds in Mariana Islands

Creating an ethical corporate culture
**************************************
Core values for business can help companies begin to exercise ethical judgment
how to operate ethically in foreign cultures but are not specific enough to guide managers through actual ethical dilemmas

Whenever intolerable business situations arise, managers should be guided by precise statements
that spell out behavior and operating practices that the company demans

Many companies don't do anything with their codes of conduct
**********************************************************************
they simply paste them on the wall

More of them now have Codes of conduct, vision, values
******************************************************************

Codes of conduct must provide clear direction about ethical behavior when temptation to behave unethically is strongest
*********************************************************************
Bribery is unacceptable: Guidelines for gift giving, payments to get goods through customs, requests from intermediaries

Code of Conduct is explicit about business practice
****************************************************
Bribery: Funds and assets of Moto shall not be used, directly or indirectly, for illegal payments of any kind
Unambiguous about which kind of payments are illegal - payment of bribe to a public official, kickback of funds to an employee of a customer
Specific procedures for handling commissions to intermediaries, issuing sales invoices, disclosing confidential info in a sales transaction...covering all situations in which
an employee can accept or offer bribes

Codes of conduct must be explicit to be useful
************************************************
but must also leave room for manager to use his or her judgment in situations requiring cultural sensitivity
Host country employees should not be forced to adopt all the home country values and renounce their own
Moto's code is exemplary: Gives clear direction

Absolutes
***********
Employees of Moto will respect laws, customs, traditions of each country in which they operate
but will at the same time not engage in course of conduct - even if legal, customary, accepted in such country - deemed to be in violation of accepted business ethics in Moto
or the laws of the US relating to business ethics

Individual judgment
********************
Strike apporpriate balance between providing clear direction and leaving room for individual judgment
crafting values statements and ethics codes one of the hardest tasks that execs confront

Words are just a start
****************************
Refer to the Organization's Credo, code - be credible, committed, consistent
If senior managers act as though ethics dont matter then rest of employees wont think ethics matter

Conflicts of Development and Conflicts of Tradition
*********************************************************
Managers should prepare to grapple with Moral ambiguity and tension
The view that all business practices can be classified as ethical or unethical is too simple
Things should be as simple as possible - but not simpler
There is black, white and then the moral free space
In the grey area - no tight prescriptions for a company's behavior
Managers must chart their own courses - as long as they do not violate core human values

How can managers discover the limits of moral free space ?
Distinguish a value in tension with their own from one that is intolerable ?
For Managers to develop good ethical judgment, core values and code of conduct are key
But even explicit guidelines cannot always provide answers

thorniest ethical dilemmas
******************************
Host country's ethical Standards are different and also lower than the home country's

Managers must recognize that when countries have different ethical standards
there are two types of conflict that arises

Conflict of Relative Development
***************************************
Ethical standards conflict because of Countries' different levels of economic development.
Host country may accept wage rates that seem inhumane; as economic conditions improve this will improve.

Conflict of cultural tradition
*******************************
Saudi Arabia - women cant be corporate managers
increase in economic development will not change the rules
To resolve ask the question: Would the practice be acceptable at home if my country were in a similar stage of economic development ?

Problem with Bribery
********************
Bribery undermines market efficiency and predictability, denying people thier right to a minimal std of living
Bribery disrupts distribution channels when goods languish on docks until local handlers are paid off
destroys incentives to compete on quality and cost due to under the table payments lead to purchasing decisions
Refusing to acquiesce is tantamount to giving business to unscrupulous companies
Destroys predictability, undermines essential social and economic systems - without an ability to predict outcomes, no one will invest
Practice is woven into social fabric
Govt policies are blamed n part in India
Business practices perpetuate corrupt behavior
Wealth disparity breeds corruption - Even a dramatic redistribution of wealth in would still leave most of India's inhabitants in dire poverty
Individual managers or a single company cannot wipe out entrenched corruption in a host country no matter how many bribes they turn down
When the host country's tax system, import and export procedures, procurement practices favor unethical players, companies must take action
Many consider bribes as a form of remuneration
US FCPA defines limits of petty bribery - even routine bribery is intolerable

Some degree of ethical commitment- play by the rules - is necessary for a sound economy
********************************************************************************************************

Differences in Regulatory environments
***************************************
1980s India: Ciba-Geigy Dystentery med Entero Vioform import fought by Govt of India as it was banned in US as some users had side effects
India had high epidemic levels of dysentry problem
Unethical to make the drug available in India ?
Rational to consider this is not unethical despite the small risk of side effects

But sometimes Host country's standards are inadequate at any level of economic development then foreign companies must refuse to do business there:
******************************************************************************************************************************************************************************
-If host country's pollution standards are very low and working in oil rig leads to increased risk of cancer
-dangerous side effects of a drug treatment outweighs the benefits then managers should not accept health standards that ignore that risk

When Relative economic conditions don't drive tensions
****************************************************************
there is a more objective test for resolving ethical problems
Is it possible to conduct business successfully in the host country without undertaking the practice ?
Is the practice a violation of core human value ?

Guidelines for Ethical Leadership
**************************************
Learning to spot intolerable practices and to exercise good judgment when ethical conflicts arise requires practice.
Need to create a culture that rewards ethical behavior

Guideline for developing Global ethical perspective in managers
*************************************************************************
(1) Treat corporate values and formal standards of conduct as absolutes
***********************************************************************************
Whatever ethical standards a company chooses, it cannot waver on its principles wither at home or abroad. Leaders should set example and influence company lore

(2) Design and implement conditions of engagement for suppliers and customers
********************************************************************************************
Will your company do business with any customer or supplier ? What if the customer or supplier uses child labor ? What if it has strong links with organized crime ? What if it pressures your company to break a host country's laws ? Such issues are best not left for spur of the moment decisions.

(3) Allow foreign business units to help formulate ethical standards and interpret ethical issues
************************************************************************************************************
Poulenc Rorer: TI: Allow foreign subsidiaries to augment lists of corporate ethical principles with their own suggestions.
TI: International Global Business Practices Council, with managers from  countries in which the company operates.
Overarching intent - create global ethics strategy, locally deployed.
Council's mandate - provide ethics education and create local processes that will help managers in the company's foreign business units resolve ethical conflicts

(4) In host countries support efforts to decrease institutional corruption
********************************************************************************
Participate in reforming host-country institutions.
GE strong stand in India, using media to make repeated condemnations of bribery in business and government.
A single company cannot drive out entrenched corruption.
Transparency International, Germany based org, effective in helping coalitions or companies, govt officials, others work to reform corruption ridden bureaucracies in Russia,
Bangladesh.

(5) Exercise Moral imagination
************************************
Using moral imagination means resolving tensions responsibly and creatively.
eg. Coca Cola, consistently turned down requests for bribes from Egyptian officials
gained political support and public trust by sponsoring projects to plant fruit trees


Company's commitment, statement of values, codes of ethics - key to provide managers with a foundation for behaving ethically
***********************************************************************
Stakes can be very high as in Bhopal Union Carbide disaster.
Values must be the starting point for all companies as they formulate and evaluate standards of ethical conduct at home and abroad.
Add specific guidelines and Translate core human values into core values for business.

Ineffective policing of transnational corporations, enforcement, inadequate regulations.
Behaviors by unscrupulous companies are clearly wrong.

Restoration of SS United States, once luxury ocean liner Asbestos lining had to be stripped. With US standards for asbestos cost is $100M.
Ukraine $2M - places workers at known health risks.
Contract met Ukraine standards but ethical business people must object

III. Week10 Lecture1
************************
Conducting Business Research - Why, When and How?
***************************************************************
In Business, Data and Analysis needed to make good decisions
Some business issues require research, culminating in a set of recommendations
- framed in a logical, well written "white paper" or persuasive, well-supported presentation

3 most common reasons for conducting business research are
************************************************************************
(i) Controversy: There is significant controversy surrounding the facts or trends in your industry, product market, labor pool, or another aspect of your business
***************

(ii) Risk: There is need to make a risky decision - large, difficult to reverse financial investment,
*********
statement on behalf of the firm that if inaccurate would damage the firm's reputation

(iii) Unknowns
*****************
An area or idea is new to the firm and "getting smart fast" is necessary
before determining whether further analysis is warranted; what the next steps should be

Controversy can arise due to Unknowns
Risks perceived may be associated with uncertainty about key facts

Decision to build a new plant is dependent on a demand forecast
***************************************************************************
If demand fluctuates wildly or if the product is new and demand is difficult to forecast
the decision to invest in the plant will seem more risky than
if demand is well known due to large contracts secured with reliable customers

When not to do research (save on cost and time)
***********************************************
- when Areas are familiar
- when there is little controversy
- low risk of loss (tangible/intangible) due to error

Information Asymmetry - A competitive Advantage
***********************************************************
Information in public domain => everyone has same info => parity with competitors
A firm should have info that others don't
interpretation and application of that information can give new insights in ways customers and competitors will behave
find ways to win

Decision to invest time and energy in business research is not an academic exercise
**********************************************
Resources - time - are always constrained

Critical Management Skill: Learn to Develop strong sense for and Decide
***********************************************************************************
-when public information is sufficient
-when you can go with your gut
-when you need a well developed research process to deliver an informed recommendation

Be clear; Do not embark until then
***************************************
What will you do with the results of your research?
Imagine you have the answer to the question. What action will you take ?
Imagine you have results of your survey. What decision will you be able to take with confidence ?


Areas of controversy => sources of risk (significant unknowns) => get idea of WHAT business research is needed
Be clear about Value of Research outcome => Decide WHEN to trigger research (doing in adcance of need may waste energy or need update or redo)
Get clear, well supported documentation
Leadership & Organization must Act on it

What you dont know you dont know
****************************************

How to Conduct Business Research
*****************************************
Decide value or research outcome will justify the effort
Decide the timing is right
Then engage in business research - find facts; "intel" making a business case; prep; briefing document
- effectively & efficiently identify,find, interpret data and info you need with the key steps

(i) State "intent of research" question clearly: What is the point of the work you propose ?
********************************************************************************************
Resist urge to jump to conclusions or seek out info before you have clearly defined your question

eg. Need to decide whether or not to invest in a new plant

Should we invest in a new plant ?
Are we confident we have demand to support an investment in a new plant ?
Is the technology we are considering in the new plant going to be obsolte before it pays off ?
Is this a good time to purchase a plan, or is a joint venture or lease agreement a better option ?
Is our product mix in line with our production capacity?
How will an investment in a new plant give us an advantage over our competitors?
How will an investment in a new plant help us retain and gain customers?

So, more than one question is at the heart of the research needed
but Cannot boil the ocean and learn everything about everything

Wrong question can spin the team's wheels without getting to the crux of the matter
Discuss what the real question is can generate insights and get your org to focus on what the highest priority objectives are

(ii) Plan your research
************************
what aspect of the issue do you need more info about ?
Consider what will you do with the info once you get it - focus your search on specific issues and priorities; don't start with a random internet search
Define clear workplan - what info is needed? who will obtain it?
Beware "Scope creep" - team members don't have a clear research plan; don't know when the work is complete enough to move ahead;
which issues are important - should be given most time and energy

(iii) Determine likely sources of info or data you seek (evaluate what bias or blind spot that source may have)
********************************************************
Imperative to validate credibility of info source
Internet - validity & quality varies; credibility questionable; wiki not scholarly
Library - databases EBSCO host=> peer reviewed articles (experts in the field support the info in the article)
Analyst reports
industry publication - more trust worthy
How are the materials selected, vetted, curated matters

(iv) Assess & Organize info as it applies to the issue in question
*************************************************************************
Organize, analyze, critically evaluate info - essential skill for effective management

(v) Iterate
Focus on certain issues may cause you to rethink and restate your core question

Time needed for any of the four steps can vary depending on situation
*********************************************************************************
Resolve a controversy: state question (1 day), planning & sourcing (1 day), assess findings (1 week)
Significant risk associated with decision: what is the fundamental question ? (longter time); plan, source, assess (nominal time0

Use this methodology to drive business decisions
*********************************************************
Create a Strong business case for a large investment in a new product line
Make recommendation for changes in internal processes based on comparison with industry best practices

Why, What, When, How to conduct business research
**************************************************************


IV. Lecture2  - Critical Thinking for Business Decisions
**************************************************************
When faced with a Specific question or set of questions => you may need business research
Info, Proposals, recommendations, assertions => you are expected to make a decision and take action

Assess and organize information as it applies to the issue in question
********************************************************************************
Organizing, analyzing, critically evaluating info is an essential skill for effective management
Type and quality of info varies broadly
There is limited time for search and analysis
Common error - gather too much of wrong info, truncate analysis too soon, involve wrong people in info assessment

Being selective in info you choose is important
Being too selective can create problems as well.
Ideally gather various points of view
- Go beyond usual suspects, get every brain in the game
- proactively seek different points of view from competitors
customers who have defected to other suppliers,
players in different parts of your industry value chain

Follow best practice in business research
well defined question and research plan will guide info gathering

If looking for a specific answer, risk of confirmation bias (you'll pay attention to info that confirms your hypo)
keeping an open mind is important to avoid self-fulfilling prophecy (you find data to support the answer you want to get)

Once you have a Variety of high quality info, then in some cases recommendations are obvious
All signs point to go or no go. But does this mean go or stop ?

Strategy does not flow from analysis..no matter how great the analysis
**************************************************************************************************************************
Experience and context - along with a critical mind - are needed to craft a direction or make a tough decision

**************************************************************************************************************************

Take all the info you've gathered + add original thought + your analysis & insights => assessment => drive decisions
******************************************************************************
Purpose of critical thinking is to justify a decision or motivate an action
******************************************************************************

In some cases it may also be important to justify reversing a decision or changing the firm's course of action

************************************************************************
Critical thinking is a vital skill in evaluating info, incredibly important to professional success
Critical eye towards all information is the hallmark of great managers
Rather than just consuming information, Ask:
************************************************************************
Under what conditions would this be true (or not true) ?
Did the creators of this info have an over or unsconscious bias ?
Are there other interpretations of this data that would impact my conclusions or actions?

Get past Missing opportunities vs Misguided actions
Develop sharply honed critical thinking skills to make better decisions

concentrate on building skills in
*********************************
- Data driven decision making -> stay alert to cues and clues
- Get every brain in the game -> Consider multiple perspectives; map the playing field and players
**********************************

Be a savvy consumer of information
*************************************
how, why, find, interpret, vet info on
competitors, industry, personnel, regulations
Glean insights that your competitors don't have and
see opportunities before others do => WIN

Connect the dots, Understand why a strategy may or may not work & assertively articulate it

Business of Winning

Leadership in the 21st Century, Week10 Summary, 6/10/12
Jack Welch Management Institute

What a way to finish the last lap !
A lot of great food for thought was shared this week.
Feels much like the enjoyment of having a rich ice cream treat.

Here are the takeaways for me to think more deeply and expand my awareness going forward into the rest of my life.

I. Readings
(a) Bennis & Thomas, Crucibles of Leadership (HBR 2002)
******************************************************************
(i) crucible: a transformative experience through which an individual comes to a new or altered sense of identity
True leadership when thrown into an intense crucible situation is made of the following:
Survive the ordeal
Find opportunity where others might find only despair
Learn from it
Grow from the crucible - instead of being destroyed by them
Emerge stronger - more engaged, more committed than ever

(ii) Happiness is not a function of your circumstances
*************************************************************
it is a function of your outlook on life

(iii) To cope with difficult situations and learn from them
************************************************************
Great leaders possess 4 essential skills
these are the same skills that allow a person to find meaning in what could be a debilitating experience

Skill#1 - Engage others in shared meaning
*************************************************
eg. Sidney Harman, dived into chaotic work environment to mobilize employees around an entirely new approach to management

Skill#2 - A Distinctive and compelling voice
********************************************
eg. Jack Coleman's ability to defuse a potentially violent situation with only his words about the US flag

Skill#3 - Sense of Integrity
******************************
Strong set of values eg. Coleman's values prevailed even during emotionally charged clash

Skill#4 - Adaptive capacity (most important) - Ability to grasp the context, Hardiness
************************************************************************************************
Through creativity, exercise the magical ability to transcend adversity and stresses and emerge stronger than before
Ability to grasp context: Weigh several factors, put a situation in perspective to connect with the constituents
**************************
Hardiness: Perseverance and toughness; enable people to emerge from devastating circumstances without losing hope
************

(b) Goffee & Jones, Why should anyone be led by you, HBR 2000
****************************************************************************
(i) Leaders need vision, energy, authority, strategic direction, humor, self awareness, real authenticity, radiate passion
But to inspire, capture hearts and minds they need four other qualities - vulnerability, intuition, empathy, uniqueness
Be your authentic self, balancing the four skills; do not ape another leader's style

Quality1 - Vulnerability: They selectively show their weaknesses
**************************************************************************
By exposing vulnerability, they reveal their approachability and humanity
Nobody wants a perfect leader - irritable, disorganized, shy
creates a trust and a collaborative atmosphere - underscores human being's authenticity
They say "I am just like you - imperfect" - genuine, approachable, human, humane
but know which weakness to disclose is a highly honed art
never expose a fatal flaw - a flaw that jeopardizes central aspects of professional role
politicians: tangential flaw actually helps divert attention away from major weaknesses
CEOs: sometimes feign absentmindedness to conceal inconsistency and even dishonesty - alienates followers

Quality2 - Intuition: They rely on intuition to gauge the appropriate timing and course of their actions
******************************************************************************************************************
Their ability to collect and interpret soft data helps them know just when and how to act
Rely on instinct - be perceptive; but also test for reality

Be a Good situation sensor - they can collect and interpret soft data; sniff out signals in the environment;
*******************************
sense what is going on without having anything spelled out
detect shifts in climate and ambience; read subtle cues and sens underlying currents of opinion
read signals and gauge unexpressed feelings; accurately judge whether relationships are working or not
Have networks to sense change quickly and detect information
read the silences, pick up nonverbal cues in the organization
"just know" - read people

Sensing can create problems: leaders can risk losing their followers
unless leaders can convince followers in a timely way that their move is positive, goodwill will erode

Quality3 - Empathy: giving employees what they need, not what they want
*************************************************************************************
Inspirational leaders empathize passionately and realistically with people
they care intensely about the work employees do
can be ruthless, but they'll get employees to learn
balances responsibility for individual and task at hand - not easy when business is in survival mode
as a caring leaders know when to give selflessly and when to pull back
go beyond obligations and care passionately about the people and the work

Quality4 - Uniqueness: Dare to be Different
***************************************************
They captitalize on what's unique about themselves
Maintain a distance from followers with the distinctive quality
Dressing, physical appearance, imagination, loyalty, expertise, adventurous, entrepeneurial, fast walk
Communicate what is unique about you and sets you apart (Networking is critical - teams need to be formed overnight)
motivate others to perform better

Risk - overdifferentiate; lose contact with followers; can't be good sensors, can't care

(ii) History of Leadership Theories
***************************************
Trait theory (problem is there is no particular trait common among leaders) : expose Weaknesses, Differences
Style theory (problem is the ideal style changes with time): Tough Empathy
Contingency/Context theory -leadership depends on situation (problem is there are endless situations and so endless varieties of leadership): what skills to use in various circumstances

History of Leadership studies show : there is and always will be an unending shortage of leadership
*****************************************************************************************************************
Plato
18th century - Rationalist Revolution; enlightenment; Voltaire
***************
Through application of reason alone, people could control their destiny
19th century - belief in progress; perfectibility of man
***************
20th century - Sigmund Freud - beneath the rational mind is the unconscious which controls human behavior
***************
Max Weber - criticized Marx; explored limits of reason; rationality without morality (technical rationality) is a destructive force
bureaucracy is efficient but can debilitate and dehumanize people eg Franz Kafka; Adolf Eichmann "just a good bureaucrat"
charismatic leadership is the only power that could resist bureaucratization
Hitler, Stalin, Mao committed horrendous atrocities
Scepticism about power of reason and man's ability to progress continuously
1920s - Trait theory
********
1940s - Style theory
********
2000s - Contingency theory

(iii) Four Common Myths about Leadership
*************************************************
Myth1 - Everyone can be a leader
*********************************
Not true - many execs dont have the self knowledge or authenticity needed for leadership
Self knowledge and authenticity are key
Individuals must want to be leaders - many talented employees are not interested in shouldering the responsibility
Some prefer to devote more time to private lives than to their work
There is more to life than work and being a boss

Myth2 - People who get to the top are leaders
**********************************************
Not necessarily - Misperception that people in leadership positions are leaders.
Some make it to the top due to political acumen
Leaders are people who have followers and rank does not have to do much with that
Leaders need to be developed throughout the organization

Myth3 - Leaders deliver business results
*****************************************
Not always. Good management does in quasi-monopolies.
Some well-led businesses do not produce results in the short run

Myth4 - Leaders are great coaches
**********************************
Rarely - assumes that a single person can inspire troops and impart technical skills
Typical leaders excite others through vision rather than coaching talents


(c) Welch, Chapter 17 Getting Promoted: Sorry, No Shortcuts
***********************************************************************
(i) Get Great Results & Expand your job's horizon
**************************************************
Deliver sensational performance far beyond expectation
at every opportunity expand your job beyond official boundaries
- give people more than they expect
- expand the job's horizons to include bold and unexpected activities
- come up with a big idea, a new concept that improves your/units/company's overall performance
- make everyone around you look better
change your job to make people around you work better, boss smarter
dont just do the predictable

(ii) Dont make boss use political capital to champion you
****************************************************************

(iii) Manage relationships: up and down carefully: dont cross the two extreme lines
dont be a buddy to subordinates; dont get too close up that you become distant to employees
(iv) Visibility: Get on the radar screen as a champion of major projects & early initiatives
(v) Mentors & Media: Search and relish inputs from mentors; learn from business media also
(vi) Character: Maintain a Positive attitue & Spread it around
- dont be a downer, a sourpuss, a dark cloud; be upbeat and fun to hang out with; have sense of humor
Skill matters but outlook matters more

(vi) Dont let setbacks break your stride
****************************************
- get back to work & prove naysayers wrong
- revitalize, reinvent, innovate
- focus on results, attitude, perseverance
- want to get ahead
- make your own luck
- ride the setbacks out

II. Seeing Around corners (Jack & Suzy Welch Week10 Video)
************************************************************************
(i). One of the Distinct/unique characteristic of true leaders - ability to see around corners
*******************************************************************************************************
something gained from experience through time - not innate, born with
see patterns that you've before =>expect what might be going on

(ii). Curiosity & Paranoia - two things that help see around corners
******************************************************************
insatiable desire to learn => look outside oneself
Fear => your position is vulnerable; you have to look everywhere to see who's coming after you

(iii). vulnerability - only the paranoid survive; helpful as hell
**************************************************************
always be looking at who can come after you? what can they do ?
what new product/service can change the shape of the playing field

III. Week10 Lecure1 - Situational Leadership
****************************************************
In Traditional leaders - those with most seniority on a team or dept or business unit lead
If Multiple team members have similar levels of seniority - leadership decided by Power dynamics, firm policies, organizational custom and norms
In Strategy committee - 6 VPs; VP of Finance may be the leader
Policy decisions - chair appointed annually; leader selected from group itself - person with most credibility; most successful at carrying group's recommendations

Group of peers comes together to create a work product - leadership void; no one designated official leader; a team member takes on lead role in this situation
Meeting wraps with next steps agreed
Simple tasks - responsibility, individual assignment are enough
Complex tasks - needs a champion; to ensure appropriate and timely followup; a leader is needed for quarterbacking, cat-herding

Situational leadership - temporary leadership role taken on by an individual; skills and passion needed to achieve a key goal
*****************************************************************************
-Requires implicit and explicit consent of those who would be led
-Some folks want the leadership role - to get credit for project's success; want the power to make key decisions about process steps, project outcomes
-Not necessarily better intentioned, more highly skilled than other leaders
-It is up to you to be the best leader you can be in full time position or in a situation

Situational leadership roles demonstrate your ability to lead, creates opportunities for promotion, additional assignments with broader scope/impact to your org
*******************************************************************

Situation leadership draws on broad range of leadership activities
******************************************************************
Leader's responsibilities
- set the direction for their teams;
- make sure their teams have the resources and skills needed to meet their goals
- listen actively
- communicate well
- advocate for their followers
- demonstrate their commitment and passion for shared goals
- convene meetings
- Candor, transparency, valuing individual and group benefits, strong shared values - all contribute to successful outcome
- Follow through on all your responsbilities to your team, others who work with your team
- communicate with candor with clarity
- look for opportunities to take leadership roles where your skills, interest and availability are a good match with the needs of your organization

Ensuring a senior person takes responsibility, vets quality, enforces timelines - necessary for regulatory, organizational reasons
*********************************************
Both formal and informal leaders shape decisions, maintain quality standards on projects, builds support for change
*********************************

Highly effective individuals
*****************************
- adept at stepping into and out of leadership roles
- passing baton to others
- communicating roles and responsibilities clearly and appropriately

Effective leadership of a project, meeting, crisis
*******************************************************
- can be done by others aside from those at top of chain of command
- someone who is the right person for a particular situation

Fluid, Dynamic workplaces
*********************************
- individuals work on multiple projects, report into matrix with more than one boss; unclear who has lead role
- situations where the formal leader may step aside for another person to take a leadership role temporarily

3 most common reasons for situational leadership are
**************************************************************
- specialized skills required
- formal leader not available (busy, offsite, not assigned)
- professional development opportunity exists for someone other than the traditional leader

When critical aspect of a group's work requires specialized skills, org is flat
- makes sense for person with applicable technical or professional skills to lead the team
eg. adverising agency - department of 11 people, led by 2 junior execs, 1 senior exec
type of work, familiarity with the market, availability to client

expectations and responsibilities that accompany the role needs to be clear for leader and to others in group
**************************************************************************************
without assignment or agreement of a leader, role clarity and power issues can sometimes derail a talented team

knowing when and how to step into a lead position in a given situation is an important skill
*********************************************************************************************
Effective situational leadership - requires attention to team dynamics, role clarity
knowing when and how to step out of a lead position is just as important


IV. DQ1 - Situational leadership examples were shared by class mates
************************************************

V. DQ2 - Limitations of Jack Welch principles were examined through critical thinking
*****************************************************
I have become a huge fan of Jack Welch's teachings as they speak to the heart and mind with compelling and far reaching truths. I went back to take a hard look and play a devil's advocate. Here are some of my observations about where the risks of following Jack Welch's principles may lie:

1. Leaders inspire risk taking and learning by setting example, (Welch, 2005, Winning, p76)
You can create a culture that welcomes risk taking by freely admitting your mistakes and talking about what you've learned from them.

This principle works only in environments which can afford to allow one to get away with small mistakes by compensating eventually with big wins.
There are environments where there is zero tolerance for mistakes and failures and this principle cannot be applied easily.
Consider a doctor performing brain surgery or a NASA engineer working on a relatively trivial O ring for the Challenger project.
Small mistakes in these cases can be devastating, costing lives and ending careers.
In both cases one can certainly learn and move forward to make the organization stronger but the price to be paid for this is very high compared to avoiding the mistake in the first place with a more conservative approach.

2. Leaders get into everyone's skin, exuding positive energy and optimism

This principle resonates deeply with me and is a personal favorite.
However it can be a liability in groups that have a "D" type DiSC characteristic where tasks and cold logic are valued more than emotions and feelings.
Similarly in groups which have the "C" type DiSC characteristic, where precision is most valued, optimism can be viewed as a risk as errors can be missed through oversight from exuberance. If an "i" type leader tries to negotiate for control in "D" or "C" type groups, it can be an uphill battle all the way.

4. Leaders establish trust with candor, transparency and credit (Winning, ch2)

While too little candor holds an organization back, too much candor can also cause increase risk of a crash and burn.
Here is an example.

A US vice consul, Maureen Chao, in an unguarded moment revealed her skin became "dark and dirty" like that of Tamilians in South India.
This remark cost her the job.
http://www.emirates247.com/news/world/dirty-like-tamilians-sparks-race-row-2011-08-14-1.413002

5. Week9 Lecture1 - Eliminate grey areas.
Once you have discussed a dilemma thoroughly and transparently enough, there is usually very little gray area left

I am not completely sold on this principle.
In work and in life I believe there are areas that are not distinctly black or white, right or wrong.

Take the case of an employee whose wife took her own life and the employee does not return to work for several months indefinitely. Should a manager hang on with hope or move on without the employee ? Technically a manager could replace the worker or could even terminate the position. Or a manager could see the unusual situation and figure out a way to hang on while the employee gets his life together and returns. There is no right or wrong action here and it comes down to a judgment call.

Let us consider two people in long distance relationship separated by their careers. Should they hang on until a way opens up or should they separate ? Is it a yes or a no ? Again we see that there is no right or wrong and it all boils down to what the individual(s) decide. Some may decide to wait for a very long time indefinitely in hopes of one day uniting with the lover while others may call it quits early or some time thereafter.


6. Lacking the Guts to differentiate (week9 Lecture1)

This principle fails spectacularly when differentiation works against future team work. There are some missions that require each member of the entire team to contribute insights selflessly and work together in order to reach the mission. By only rewarding a few "stars" the message to the team is clear - individuality is more important than collective team work. So, individual egos can surface, boundaries come up, and team members actually hope for each other to fail. With employees focused on advancing their own ranking and self-interest, greater team work is undermined.

7. Fixation of results over values (week9 lecture1, Six Sins of Leadership)

How many times have "good numbers, bad values" managers been let go in companies ?
Results can trump values especially when deadlines loom and pressure to deliver mounts.

In crisis situations, survival can become much more important than respect for values. This is why top executives in some organizations that are under great pressure from Wall Street, to perform and get high profits, look the other way while "jerk managers" go into "squeeze the lemon" mode, driving the employees crazy.

8. For superior customer service over deliver (Week4 video)

Overdelivering may work very well in many instances but in some "just in time" business model cases (eg. inventory management in a car factory) where neither overdelivering or underdelivering are acceptable this principle may have a limitation. For example if a customer is expecting delivery of x parts at an appointed time T, then delivering more than x parts or coming in early before the appointed time may not necessarily help the customer.

9. Leaders Celebrate

I think Jack Welch is right on the mark in pointing this out and I love this principle as well. I find that Hollywood community is very good at this, clapping and bursting out with joy after every good shot, encouraging talented people. I find executives and managers at IBM in my workplace not celebrating accomplishments adequately.

But there are cases where the principle may not apply. Consider the case where a company is going through lean times or going through several rounds of lay-offs. In these situations, even when positive achievements are made, the celebrations need to be quite muted to reflect sensitivity to the happenings.

Great exercise. Makes us think critically.
I learned that EI, Critical thinking and Candor are key to assess a situation thoroughly and apply the Jack Welch principles suitably.

VI. Lecture2 - Leading to Win
**********************************
Helping the world thrive and grow
***************************************

Developing oneself as a leader:
Building great teams, Motivating people, Dealing with conflict, Managing up

The goal of leadership and business is TO WIN
******************************************************
Winning companies are the engine of a healthy society
They are the foundation of a free and democratic society
Winning is great because it lifts everyone it touches & makes the world a better place
*************************************************************************************************
when companies win people thrive and grow
more jobs and opportunities everywhere for everyone
people feel upbeat about future - kids can go to college; better healthcare; buy homes; vacation homes; secure comfortable retirement
creates opportunity to give back to society beyond taxes - charities, mentor inner-city schools

When companies are losing everyone takes a hit
********************************************************
people feel scared - they worry and upset their families
less financial security and limited time or money to do anything for anyone else
out of work, pay little taxes

Taxes
********
Govt is the support engine of society - does not make any money of its own
collects tax, fees, licenses - funds justice system, education, police & fire protection, highways, ports, welfare and healthcare

Win the right way - cleanly and by the rules and ethics
*******************
Companies and people that don't compete fairly dont deserve to win
internal company processes + Govt regulatory agencies => bad guys found and kicked out of the game

Honest companies must find a way to win
************************************************

What is winning ?
******************
Winning is a personal journey - to reach the destination you choose
It is about achievement
- a happy family
- teaching children how to read
- sailing around the world
- building and leading a company that succeeds in the global marketplace
************************************************************************************

Winning is not a zero-sum game
**************************************
- does not have to be morally corrupt (losing the souls to profit when they win)

When a company wins, there are collateral winners too:
Executives and Shareholders
Employees, Distributors, Suppliers

Success leads to dozens of startups that supply the mother company and create jobs
Jobs are the lifeblood of society
**********************************
When people have meaningful work,
- they have the freedom to set goals, not just survive
- freedom to dream

Search for new ideas - the next big thing; invent new technologies
*************************
Start companies or help build them - make it your life's work; a noble enterprise
****************************************
Make a livelihood and create a better life for families, friends, colleagues
*********************

Businesses are comprised of human being - made of flesh and blood
You and me - we are in the business of winning
*******************************************************




By far, one of the very best learning experiences of my life
Dr DP