Archive for 'Business'

Harvard researcher Shaun Achor has demonstrated through his various studies that happiness does not necessarily come from success. In fact he goes as far to suggest that it’s the other way around. It is only by being happy that you can achieve true success. So if this is the case, how does one become happy in the first place?

An interesting study conducted by Michael Norton from Harvard Business School proposed one possible solution. His hypothesis was that money can in fact buy happiness. Read more »

During the recent US Masters Golf Tournament it was hard not to be struck by the many similarities the game of golf has with business. The golfer is the product, they hire people such as agents and so many of its subtleties are quite metaphorical for many aspects of entrepreneurship. Above all every golfer would testify that this is a dream come true; they love playing golf, they are good at it and they get to do it full time as a career.

Business Lesson 1: Work at something you are good at and love doing (why not?).

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For anybody familiar with the Toyota Manufacturing System, Lean Manufacturing, or Kaizen Events, the “5 Whys” should be a pretty familiar tool. It is used as a diagnostic for digging deep into what might be the root cause of a particular problem. The rationale behind this is that the more you dig the greater the understanding and therefore the more likely a successful outcome.

Simon Sinek in his Ted Talk in 2010 challenged people that when positioning your product or service don’t lead with what you do Read more »

A local well know business school defines Entrepreneurship as “The relentless pursuit of opportunity without regard to resources currently controlled”. This definition is perhaps open to debate and pretty narrow in scope but it revolves primarily around three major elements, namely:

1. Product idea and development

2. Financing – personal, friends, bank, angels or VC

3. Exit – sale or replacement by competent CEO

This is quite normal perhaps for a high tech start up but there is much more to your typical entrepreneurial endeavor. The first two points are valid but thereafter Read more »

What motivates a buyer? Whether dealing with a consumer buying basic living needs or somebody purchasing a large piece of capital, what truly motivates buying decisions? Motivation can typically be categorized in terms of Extrinsic (External) or Intrinsic (Internal), and though we often think of this in the context of performance, there are also many parallels in terms of what it might mean for a potential buyer.

Extrinsic Motivation is primarily driven by a logical justification. In performance it is reward and for a buyer this translates to how Read more »

With the advent of technology and globalization the manner in which business is conducted has dramatically changed over the last 20 years. Dan Pink, in A Whole New Mind refers to the transition from Agricultural to Industrial to Information and now to what he describes as the Innovative or Creative Revolution. The advent of technology and globalization has very much driven this changing landscape, particularly here in the US, and this can be somewhat illustrated by considering the following shifts:

We live in very fluid times and consequently the manner in which we approach what motivates our employees requires a very different thought process. Think in terms of how doing business has changed over the last 50 years. The advent of technology and globalization has very much changed the landscape and this can be illustrated by considering some of the following shifts that have occurred.

Engagement is a direct result of the various motivators you experience. These motivators can be intrinsic and relate to your actual work experiences such as your job, you boss, your team and in general, the organization you belong to. However there are also extrinsic motivators that are typically regarded as much more universal.

In the past these extrinsic motivators were thought to revolve around the “carrot and stick”. Today the notion that rewards motivate people has been replaced with the realization Read more »

Employee engagement is the collective level of intellectual and emotional commitment employees have toward their work and organization. More and more organizations are embracing this as a means to understanding how they measure up from an engagement perspective. Consequently many different types of tools and surveys are now being accessed to help create some objectivity as to how people feel about their work.

Once these surveys are undertaken and organizations wish to elevate their engagement score, three areas where significant developmental opportunities exist are:

Emotionally Intelligent Leaders

Do qualities Read more »

For the majority of those reading this you are either part of an organization or are pursuing a solo-preneurial career. Whichever you might be on there is always the question as to whether it’s “greener” on the other side. To make a decision to move in either direction is huge and can never be taken lightly.

The following are some key categories and associated questions that one should consider in terms of what might be right for you.

1. Knowledge – Is Read more »