Ethics in Business

A Business leader has to lead by example and is expected to behave according to the Ethics and Moral values he sets as guidelines for his company. If we really want to fundamentally change the world for the better, that is what we expect from our leaders in general.

Can we learn from our mistakes ?

New awakening!

Can we trust the banks that got us into this mess to get us out of it?

What can consumers learn about this crisis?

Is it ?

It is not about who we are , but what we dream of,....

There are no endings just new beginnings

Quotes

There is a better way to do it; Find it

Thomas Edison

"Twenty years from now, you will be more disappointed by the things you didn't do than those you did. So throw off the bowlines. Sail away from safe harbor. Catch the wind in your sails. Explore. Dream. Discover." - Mark Twain

Belbin Team Roles

Belbin promotes, develops and sells Team Role theory, which may help people working together with greater self-knowledge and understanding. An interesting tool for newly fomed Teams helping commun understanding and nurturing efficient Group spirit.

Is honesty the single most important asset ?

For many centuries, honesty in the business world, was not just a moral category, by itself, but a vital key requirement for a successful entrepreneur. Being regarded as honest and respectable were important criteria.

"An honest businessman is credible, provides “trust” to others, such as employees and suppliers and reflects about the consequences of his actions. By doing this he achieves stability and peace in society – which then, ultimately also brings benefits for himself, "to this conclusion comes Daniel Klink from the Institute of Management at Berlin’s Humboldt University. Klink has set up the Institute, Internet portal "The honorable merchant" and has been conducting research for many years on this subject.

MBTI

The Myers Briggs Test Indicator is an employee assessment tool that, if used properly, can enhance communications, improve teambuilding, and shed light on certain personality conflicts.

http://www.myersbriggs.org

Elton Mayo

George Elton Mayo (1880-1949) has been widely recognized as the progenitor of the human relations movement in management and his work laid down the fundamentals for modern management and organizational thinking.Mayo's work highlighted the importance of communication between management and workers and identified the , in our days somehow-accepted notion that work satisfaction, and therefore productivity, lies in recognition, security, and a sense of belonging, rather than monetary rewards. His findings were contrary to the theories of his contemporaries that the worker is motivated solely by self-interest (e.g. Taylorism). Mayo's work on human motivation revolutionized the theory and practice of management into our current days, is it worthwhile and because we are cruising some very hard troubled waters to reflect a bit on Elton Mayo´s theory ? What do You think ?

Transparancy...

It takes courage to admit to publicly that we make mistakes, besides being good at what we do. Some leaders might not feel comfortable doing this, but it should be always about being open and accountable for what one claims and about being honest in what we preach and practice. What do You think ?

Rise and Fall.....

The Principle developed by L.J. Peter is embedded in the phrase: “In a hierarchy, every employee tends to rise to his level of incompetence.” This sentence first appeared on the cover of a book of the same name, written by Laurence J. Peter (1919-1990), a teacher and professor of education, and Raymond Hull, and it has since then become part of the English language.

Knowledge development,...

As the economical downturn continues and the threat of cost
cutting is ever-present, the importance of knowledge
development in a recession is the most important asset to retain. some people argue,..
What do You think ?

Ludwig Van Mieses

Ludwig Von Mieses, an Austria Economist published in 1912 his Book : „Die Theorie des Geldes“. Mieses predicted the “big crash” in 1924 and after being offered him a senior position at the Kreditanstalt Bank in Vienna, that he refused, he explained his wife the following:

“A great crash is coming, and I don’t want my name in any way connected with it.” “If you want a rich man,” he said, “don’t marry me. I am not interested in earning money. I am writing about money, but will never have much of my own.” 1)

Instead, he preferred to write and teach.

1) Mises, Margit von. 1984. My Years With Ludwig von Mises, 2nd ed. Cedar Falls, IA: Center for Futures Education. pp. 23-24.

Ba...

Ikujiro Nonaka is a professor at the graduate school of international strategy at Japan’s Hitotsubashi University.
He developed the word “Ba” that defines a kind of a meeting place of minds in an organisation. Ba could be meant as a physical place —an office or a restaurant—or it can be purely virtual , as a kind of shared experiences of the organisational culture. The word has now a broader acceptance and, allows people inside a organization to work together knowing that their commun objectives are alligned and that they are following a commun path.

It is in tough times where excellent leadership can make the difference, when the economy is “ booming”, it is fairly easy to have success. What do You think ?

Paradigm shift ?

Jack Welch, who is regarded as the father of the “shareholder value” movement that has dominated the corporate world for more than 20 years, has said it was “a dumb idea” for executives to focus so heavily on quarterly profits and share price gains, as it was quoted on the latest Financial times.com edition.
I have been pledging in the last couple of years that this idea was not sustainable long term , and that the focus should lie on maximazing stakeholders value and not shareholders.

Re-build,Re-construct, Re-shape,Re-invent.....

Going against former believes Tom Peters stated some years ago that there are no excellent companies. According to him: “it is no longer enough to be excellent; companies have to stand out from the crowd. Companies have to shrink, even deconstruct. They have to innovate. They must make the workplace more interesting.”. In our current financial turmoil, is this statement more relevant than ever? What do you think?

Leading by example ?

Sir Fred Goodwin’s pension arrangements were the central theme of a war of words on Thursday as the former CEO of the Royal Bank of Scotland traded allegations over the terms of his departure from the financial institut with Lord Myners, the City minister. Sir Fred Goodwin, who was forced out of RBS last October, had started collecting a £693,000-a-year pension. The fact that he stands firm on that amount ( under actual circumstances) is a behaviour one should expect from a former Business Leader ? What do You think ?

So ?

In times of turmoil most of those in leading positions create distractions and diminish energy. In these difficult times our enemy is fear, and fear always creates a distraction. Therefore actions must be taken to attack fear and build confidence.