Business Concepts
Company Culture
Premise:
In every business, if you take away “culture” you are taking away the “soul” and nothing good comes after that. The company’s policy is a reflection of company culture.
Examples:
Most community service organizations are non-profit groups that have a culture of genuinely wanting to help improve society. If the organization’s members suddenly do not want to help society, there will be no more reason to participate in the community service and the organization will slowly die.
If a basketball team’s coach teaches his members to try to break the other team’s bones when they can’t win, they will have a team culture – but is it the kind of team that you would want to support?
Task:
Provide an example of how a company’s culture is linked to its soul.
Provide a few examples of possible company policies that would foster desirable company culture.
Hiring
Premise:
People determine whether you develop the next winning technology or product. Make hiring a top priority.
Example:
When hiring a babysitter, most parents will be careful with who they choose.
Task:
Provide an example of a situation where paying attention to hiring is very important.
Modularization
Premise:
IT businesses need to be modularized so they can use a model that can be easily replicated when expanding.
Example:
A restaurant that wants to open new branches cannot use family members as branch heads because they will eventually run out of family members or family members may not be wiling to relocate. In order to expand, the restaurant needs to use a model that can be independently sustainable.
Task:
Provide an example of an area that needs to be modularized in order to expand.
Project Management Paradigm
Premise:
High levels of collaboration will become essential for distributed project success.
An increasing number of distributed projects involving project collaborators from different locations, organizations, and cultures have caused current project management to be more concerned with efficient sharing of information among project contributors and tracking project work processes.
Task:
Provide an example where collaborative project management is desired.
Quality
Premise:
Your business needs a good reputation and appearance as well as a quality engine in order to keep customers and expand.
Example:
If you have a good looking car you may be able to sell it to the customer. However, if your car is poorly made then when it breaks down you can be sure that next time your customer will buy a different brand and tell his friends, too.
Task:
Provide an example where maintaining high quality is crucial for good business.
Variety
Premise:
Businesses do better when they offer a variety of services. Businesses do better when they can offer a service that cannot be found elsewhere.
Example:
A restaurant needs a wide range of dishes with on a wide price range to satisfy various customer tastes and budgets.
Task:
Provide an example where a variety of skills or a variety of services is necessary or beneficial.
Provide an example of a unique skill or a unique service has been the key to a success.
Visualization
Premise:
Being able to see a vision of success with your eyes closed is beneficial to your ability to market a product.
Example:
An athlete may visualize him or herself winning a competition before competing to raise his or her spirits.
Task:
Provide an example of how visualization can help lead to success.
Management
Delegating Authority
Premise:
There are multiple benefits that can be attained from delegating authority. More players will become involved, avenues for potential leaders to emerge will open up, workloads can be lightened, and the overall long term effectiveness of the team can be improved.
Delegating authority is different from just giving people work to do.
Example:
In volleyball, the responsibility of receiving the ball rests upon multiple players. If only one player was responsible for receiving the ball then it would be difficult for the team to win any games.
Telling a bench player to buy drinks for the starters is not delegating authority.
Task:
Provide an example of how delegating authority can be beneficial.
Provide an example as an explanation of the difference between delegating authority and just giving people work to do.
Flat Organizational Structure
Premise:
A flat organizational structure delegates authority to all members in a team and raises all team members to the same level. Using a flat organizational structure enables leadership development to occur in all players and compels people to act responsibly because they have the information to do so. A team can learn from mistakes as a team and take corrective actions as a team.
Task:
Provide an example where a flat organizational structure is used effectively.
Grey Areas
Premise:
Grey areas are undefined areas by design that contrast with defined black & white areas.
Example:
Volleyball has defined rules as well as grey areas. A grey area would be deciding on which player should receive a ball and how she should hit it. Grey areas add variety to the sport and make it interesting to watch, but black & white areas such as rules on how to score are also necessary.
Task:
Provide an example of how a grey area in an aspect of your everyday life (work or leisure) is beneficial.
Leadership
Premise:
Leadership comes from walking around, caring about people, and talking to people. One of the assets to look for in a team or leader is a bias for action and a willingness to say “we can do it” coupled with a solid strategy. A leader needs to communicate in a way that makes people feel that they want to do what the leader wants them to do.
Example:
A sports team where every player wants to play to win will work and train harder than a team that is there only for the money. However, a team that wants to win will not win only with hard work; it also needs direction and good coaching from a coach that cares.
Task:
Provide an example of good leadership.
Positive Reinforcement
Premise:
When people are in a good mood at work they are more conductive to learning and have better productivity.
Example:
A group of students who love math are more likely to learn and score better than a group of students who do not care for math.
Task:
Provide an example where positive reinforcement has a significant impact on the productivity of a group.
Decision-Making
Attention to Detail
Premise:
Paying attention to detail is critical for keeping up appearances and maintaining quality work. The success of a business is dependent on its outward appearance as well as its internal quality.
Example:
After eating, most people will take the time to make sure there is no food on their face. If you meet with someone and they have crumbs around their mouth, you will notice immediately. This is the same as using a spell-check on your documents. It doesn’t take long to wash your face or use a spellchecker, but if you don’t then someone will notice immediately and have a poor impression of you.
Task:
Provide an example where paying attention to details is important.
Provide an example where the lack of a good appearance or actual quality has led to failure.
Be Proactive
Premise:
A proactive individual acts in advance to deal with difficulties before they arise. If you proactively check for additional services that can be provided to a customer instead of simply reacting to requests, you reverse roles and can receive a huge payoff.
Example:
People have general health checkups every year to catch problems before they arise. You don’t want to be the person who suddenly has a stroke before he sees a doctor. Businesses also need yearly checkups beyond a financial audit.
Task:
Provide an example where being proactive can change a negative event into a positive outcome.
Character Assessment
Premise:
People with situational value systems are not fit to be placed in leadership positions. A person with a situational value system will treat people differently depending on their status.
Example:
Someone who is nice to you but rude to the waiter is not a nice person.
Task:
Use an example to describe another method for assessing a person’s character.
Dealing with Problems
Premise:
Do not avoid addressing problems. When a bad situation arises, it is best to face it honestly and directly.
Example:
A student is doing poorly in his math class. If he chooses to ignore the problem then his math skills will not improve and he will continue to score poorly in his math exams. If he approaches the problem in a dishonest way, he will be expelled when he is found to be cheating.
Task:
Provide an example of a problem and describe various methods for solving it.
Thinking Out of the Box
Premise:
Decision-making often changes on a case-by-case basis. It is often useful to look at situations from someone else’s perspective.
Example:
A fan watching a sports game may not agree with the decisions that a player makes. However, if the fan were to be in the coach’s shoes on the ground, he may have a different understanding of the player’s actions.
Task:
Provide an example where thinking out of the box is useful.
Workplace Behavior
Premise:
A company’s reputation is built on the actions of each employee, so it is important to emphasize ethics and integrity.
Example:
A serious offense is to “cc” a person’s boss on a copy of a complaint before the person has a chance to respond. Creating drama and conflict will make the problem worse instead of solving it. Instead, personally address a complaint directly to the person to try to work out a solution first.
Task:
Describe a situation in the workplace and write about appropriate and inappropriate behavior.
Personal Growth
Having Fun
Premise:
Finding fulfilling work should be an early and deeply pursued part of everyone’s career path. Happier people are better for business and for themselves.
Example:
Even during time off, people forget why they are playing. When playing golf, the objective is not to have the most expensive clubs, the best technique, or the lowest score, but to enjoy the beautiful settings with some good friends.
Task:
Provide an example of how having fun in the workplace can sustain or improve productivity.
Provide an example of a situation where people may have forgotten that they originally wanted to have fun.
Knowing your Limits
Premise:
Do what you can do. Don’t worry about what you cannot do.
Example:
Some things cannot be changed. You can find a recycling bin to recycle your bottle, but you cannot change paper cup into a bottle.
Task:
Provide an example of a situation where there are limits on what someone can and cannot do.
Perseverance
Premise:
Believe in yourself and don’t quit.
Example:
Cheerleaders at a sports game cheer for their team when they are doing well, but they also need to cheer for their team when they are behind. The cheerleaders need the crowd to tell the team that they believe that their team can turn the game around. If they don’t believe, then they won’t cheer. If they don’t cheer, their players won’t be as motivated and are more likely to lose.
Task:
Provide an example where perseverance is beneficial.
Substance
Premise:
At the end of the day, people need to have real value and substance. Core values of hard work, high standards, and honesty will create personal value.
Example:
Learn to say “I don’t know.” If used when appropriate, it will be used often. When a smart person is asked for something he or she doesn’t know, they will simply say “I don’t know” and go find out the answer. Confident people will not try to cover up their deficiencies by lying.
Task:
Provide an example where hard work, high standards, and/or honesty create personal value.
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