Today is the first anniversary of this blog.
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What it takes to be an entrepreneur ? ( Part 1)

A survey of Stanford MBAs suggests that the decisive factor that divides entrepreneurs from the rest of the pack is their well-rounded experience.
Business School Professor Edward Lazear, is the Jack Steele Parker Professor of Human Resources Management and Economics, and a senior fellow at the Hoover Institution. He is also the founding editor of the Journal of Labor Economics. He conducted a research centered on employee incentives, promotions, compensation and productivity in firms. The main factor affecting whether someone was more likely or less likely than average to become an entrepreneur, was, the number of different positions the individual occupied previously. Lazear stated that, "If you perform different roles, you pick up different skills and that makes you multidimensional” and added that: "Entrepreneurs are jacks-of-all-trades, not specialists."

From a financial perspective we can state that competitive advantage exists when the global sales turnover of a company is greater than the sum of its costs, including those of the opportunity of capital.
Competitive advantage can be achieved in different ways, by selling a product or service that customers perceive as possessing superior value, therefore the supplier is able to set a premium price, but, competitive advantage can also be achieved by lowering the costs in relation to the direct competition.
The challenging question is the following, which approach impacts most in value creation ?

Quotes # 9

"There's nothing so useless as doing efficiently that which should not be done at all". ( Peter F. Drucker)

Do we plan Strategically ?

The essence of Strategic Planning is in my view: defining where You want to go, finding out where You are now, and then determine how to get there .
To achieve this You need to have the ability to steer the organization as a whole through strategic change under conditions of complexity and uncertainty .

How well do we manage ourselves, or, the art of Self-Leadership

Which is the most overlooked leadership challenge? What is your toughest leadership challenge? I think it is managing us. All effective leaders must master the art of Self-Leadership, which means knowing how to achieve the results one aspires in his or her personal and work life and, as Daniel Goldman stated, “it is all about self control”, before You go out there and try to lead others by being a source of inspiration and motivation, we have to learn how to balance our "emotional self-control." What characterizes full leadership potential, according to Goldman? Continuously staying in leadership despite overwhelming opposition or discouragement. Staying in the leadership role and maintaining a cool head and clear mind during times of crisis. Keeping ego at home. Staying focused on the mission and vision instead of being distracted by someone else's agenda. All these indicate high levels of emotional self-control. Goldman says, "Exceptional leaders distinguish themselves because of superior self-leadership.” This is a task that is difficult to master, if You do not know how to dig deep into this, You can always seek the help and advice of a professional coach.

Execution ( Part 2 )

Hold Everyone Accountable—All the TimeStephen R. Covey, Ph.D.
At the bottom of the execution gap is the lack of accountability. In the Industrial Age, the theory was that people performed to expectation—or else. With the rise of knowledge work, goals get blurry and workers have more autonomy. Most leaders are deeply conflicted about how to manage knowledge workers: Do I spell out what’s expected and then crack down? Or, do I let workers choose their own way and hope for the best?
Organizations that execute with excellence invar-iably have strong accountability systems. The data indicate, however, that such systems are not very common. In a recent Franklin-Covey xQ study, more than 12,000 U.S. workers were asked to describe accountability within their organizations.
These are key symptoms of weak accountability for commitments:
Only about two in five (41 percent) of respondents talk to each other routinely about progress toward their goals.
Only about one in four (26 percent) meets at least monthly with a manager to review progress on goals.
Only about a third (31 percent) said they stay on budget.
A few more than half the respondents (58 percent) indicated that they keep commitments in a timely fashion, meaning deadlines are only met around half the time.
One in three said that no one cares much if they deliver with quality.
If sharp execution requires precise accountability, the typical organization is in trouble.
Teams known for excellent execution are also known for “mutual accountability.” They feel themselves accountable not only to owners, bosses and supervisors, but also to each other. They have clear roles in executing a few core goals, and they regularly and often answer to one another in keeping their commitments.
That’s why the fourth discipline of execution is to hold everyone accountable—all of the time. Those who practice this discipline do three things extremely well:
Hold frequent accountability sessions—at least weekly: Most knowledge workers aren’t asked to account to their managers even monthly. It is so easy to lose focus on key goals without intense and frequent focus. New York Mayor Rudy Giuliani’s turn-around team met every day in a “morning meeting” to keep key goals in constant sight.
Focus on the “wildly important goals”: Many goals are important, but only a few are “wildly important”—that is, crucial to the mission. Examine the scoreboard on those crucial goals. Ensure that everyone agrees precisely and individually on what to do this week to move those goals forward.
Clear the path for each other: The notion that the boss holds subordinates accountable, that accountability flows only one way, is not characteristic of an execution culture. On a real work team, everyone accounts to everyone else. Everyone has individual tasks, and everyone encounters obstacles. If I’m the leader, I clear the path for you by getting you resources or approvals or making important contacts. In turn, you clear the path for me by giving me technical assistance or research data.
Only organizations that execute with excellence can sustain results over time. Practicing the four disciplines of execution is truly a key to superior performance.
Stephen R. Covey, Ph.D., is co-founder of FranklinCovey, a leading global professional services firm. Stephen is also author of the best-selling“The 7 Habits of Highly Effective People.”

Execution ( Part 1 )

The “execution gap” is the difference between what a Business company promises and what she actually delivers. The “execution gap” represents a lack of execution capability which should be monitored closely. The key factors influencing this “execution gap” are; people, strategy and operations. From these three key factors the people element is the most sensitive one, according to the old business saying that; “ People make your business successful “.

Quotes # 8

“There is always a choice about the way you do your work, even if there is not a choice about the work itself.”—Stephen Lundin, business coach and author

Is Leadership Art ?

We can consider that Leadership is more an art than a science, but,
Within any profession or sector, one of the primary characteristics of the art of leadership is the willingness to work on an edge—the edge between the familiar and the emergent. Harvard University professor Ronald A. Heifetz refers to this edge when he speaks of :”the capacity to lead with only good questions in hand—and that acts of leadership require the ability to walk the razor's edge without getting your feet too cut up—working that edge place between known problems and unknown solutions, between popularity and anxious hostility “.

Quotes # 7

"When planning for a year, plant corn.When planning for a decade, plant trees.When planning for life, train and educate people."Chinese proverb: Guanzi (c. 645BC)

Education (1)

The path to sustainable growth is the ability to innovate, create knowledge and apply this to new products and services. Here should lye the foundation for profitable growth of a business organization which is the backbone of a nation’s economy and the development of society. But, in order to be effective creative Leaders know that it is not about having the most knowledge; but to know how and when to use it. Traditional education systems are not meeting increased challenges from young people, many of them are becoming more and more disappointed with current teaching approaches and start to feel that their education is becoming obsolete to their daily lives and future careers . The first aim and goal of all education should be to bring enlightenment to the students. TRAINING THE MIND, and NOT STUFFING THE BRAIN with facts and formulas, is what they need.

What does it need to become a...........

What are the key characteristics a great Leader should have? Warren Bennis stated that all leaders seem to share some common traits:
1.) The ability to “dream” a vision,
2.) To have a very clear picture of what she or he wants to do professionally and personally, and will try to accomplish those goals relentless and regardless of some setbacks
3.) Being passionate and having the motivation, enthusiasm and the ability to communicate, inspire and motivate others for that passion.
4.) Self-knowledge
5.) The ability to make judgments free from discrimination or dishonesty
6.) Maturity achieved from learning by doing and learning from past mistakes
7.) Being capable to learn as much as possible
8.) The will to take risks.

Inspired in a WSJ Online article.............

These days, the recruiter's main ideal target is the job applicant who shows the potential of being an articulate leader. But , such candidates ( MBA´s) are proving to be all too rare. Of all the complaints some recruiters register about M.B.A. students (in The Wall Street Journal/Harris Interactive survey) top of the list are: inferior communication skills and a close second the lacking of leadership skills.
Leadership should be about developing the ability to inspire people to reach high levels of performance and success .Being able to dream a vision , having the passion to communicate that vision and concentrating the attention at key strategies , listening ,coaching, mentoring being an inspiration for others while managing the change culture of your organization.
Leaders should have the ability to tell THE right story to their stakeholders/customers , and to communicate these stories in the most compelling, consistent and credible way possible.
Leaders should develop the ability to proper listen to people, by focusing time and energy on really actively listen to what other people have to say. By doing this, they will become better listeners and better critical and creative thinkers.
Leaders daily face an endless exchange of ideas, messages, and information by dealing with their internal and external network day after day. How well they communicate and listen can help determine whether their companies quickly grow into an industry leader or join thousands of other businesses stranded in mediocrity.

Quotes # 7

Where so many hours have been spent in convincing myself that I am right, is there not some reason to fear I may be wrong?

Jane Austen
English novelist (1775 - 1817)

Create Brand Awareness

Have You heard about this? That Branding is all about creating an emotional engagement between the consumer and the brand, that the brand must inspire high degrees of confidence, integrity, pride, and passion ?
If this applies to the way we market brands to our customers/consumers, why don’t we use the same approach to market our internal projects by engaging team members and stakeholders with a similar level of passion that lies behind premium brands .It is important to show the soul of real people that make it all happen. This human dimension not only bonds customers with brands but it strenghtens the ties that connect leaders to their followers even when they are working in and for the same company , it raises empathy levels, making them more patient and understanding when things do go wrong.
Can this be an effective strategy ?

Quotes # 6

"You can buy a person's hands but you can't buy his heart. His heart is where his enthusiasm, his loyalty is."

Stephen Covey

"Sailing in stormy waters......."

Is it wise, in turbulent times and framed by an uncertain economic environment to avoid risk taking and implement changes in a business Organization?
Some “bean counters “out there, believe that, by avoiding risk, organizations can “beat” their lesser wise competitors. That by playing on the safer side, they can avoid making “extra” investments and implement needed changes to their organizations'. But in today's global marketplace, playing it safe and avoiding change is probably the riskiest strategy of all. What do You think?

Checkers or Chess ?

How to tell a good manager from a bad manager? According to Marcus Buckingham ( management consultant and author of books such as; First, Break All The Rules: What the World's Greatest Managers Do Differently and The One Thing You Need to Know...About Great Managing, Great Leading and Sustained Individual Success), there is a simple answer : Bad managers play checkers. Good managers play chess. The good manager knows that not all employees work the same way. They know if they are to achieve success, they must put their employees in a position where they will be able to use their strengths. "Great managers know they don't have 10 salespeople working for them. They know they have 10 individuals working for them .... A great manager is brilliant at spotting the unique differences that separate each person and then capitalizing on them."
This may sound elementary, but, according to Buckingham, “ a quick glance around the business world indicates that many companies have yet to grasp this simple concept of putting people's strengths to use,” meaning that the business world -- and the world at large -- is obsessed with weaknesses and finding ways to fix them.

The vital question here is ; where do I get the most benefits with the least effort, or to put it in business language how do I get the most return out of my investment , is it by working on strengths or mitigate weaknesses ?
According to Buckingham, the best managers share one talent -- the ability to find, and then capitalize upon, their employees' unique traits. "The guiding principle is, 'How can I take this person's talent and turn it into performance?' That's the only way success is possible." And yet not everyone has that knack, Buckingham states: “Truly inspiring business leaders, are rarer than many think “.

Quotes # 5

“Leadership and learning are indispensable to each other.”

John F. Kennedy, speech prepared for delivery in Dallas the day of his assassination, November 22, 1963