Management Blog

Building future leaders

The nurturing of future leaders has greatly helped companies like AMEX, GE, Unilever and McDonalds become long-term success stories, according to Fortune magazine.

The article profiles the experiences of these companies and offers eight tips for building a leadership program. In summary, here are four:

1. Invest resources – recognise that it takes time and money to build a successful leadership program

2. Identify early – be on the lookout for leadership potential in new employees; don't limit programs to long term staff members

3. Talk it over – provide ongoing feedback, honest assessment and a healthy dose of mentoring to your up and comers

4. Be inspiring – use your own sense of mission as a passionate leader to inspire success in others

Broadband is taking over ad land

Advertising as we know it is an endangered species due to the growing ubiquity of broadband Internet, according to a recent Harvard Business Review article.

It's claimed broadband is remaking the advertising industry by bringing advertisers closer to consumers and delivering more clearly defined audiences. These are the trends to watch:

• Search advertising – seen as more effective than banner ads as sponsored links are matched a user's search results
• Social networking – MySpace, for example, connects advertisers to the youth market in a way that can't be fast-forwarded
• Product placement – set to increase in television programming and video games
• Viral campaigns – good for defined demographics whose members appreciate creativity and quirkiness

Gen Y connects to mentors

Smart Business claims mentoring is no longer the sole domain of managers or long-term employees with an increasing number of Generation Y workers asking to be mentored.

The article argues new technology has made mentoring more accessible for companies of all sizes as mentor meetings can take place using Web 2.0 online tools.

Many businesses are already embracing a more inclusive approach to mentoring; a recent study has found 50 per cent of CEOs are developing a mentoring program at their organisations.

The greatness of Small Giants

When it comes to business size, big is not always beautiful argues Bo Burlingham in his book Small Giants: Companies that Choose to Be Great Instead of Big.

Claiming size does not always equate to greatness, Burlingham looks at a number of SMEs that have achieved success by staying small and focusing on what they do best.

All of the companies profiled in the book had the opportunity to become larger but choose instead to measure greatest in other ways such as their relationships with their employees, suppliers and communities.

Speaking to BusinessWeek, the author says there is nothing wrong with wanting to become a larger company but SMEs should do so with their eyes wide open as there are trade-offs when small morphs into big.

Managing a bad boss relationship

A recent US poll has found a bad relationship with a manager is the main reason why people leave their jobs. But is resigning from a good position to escape a dreaded boss always the right move?

If you want to move up the corporate ladder Career Journal advises that it's sometimes best to stay where you are for a little longer and learn to stop treating the boss as your enemy.

One trick for getting over your issues is to try dealing with the boss in the same way you'd handle a client. If they say something that leaves you annoyed, treat them as you would any client... with respect.

And if you decide to leave your current job, don't depart on a bad note as any ongoing conflict between the two of you might damage your career prospects.

Queen of Green remembered

Time magazine recently reflected on the life of the undisputed Queen of Green Anita Roddick, the woman who brought a conscious to cosmetics.

Before passing away on September 10 this year aged 64, Roddick and husband Gordon built the Body Shop into a retailing powerhouse with 2,000 stores in 50 countries.

What was different about Roddick was her desire to use stores as "billboards" for issues such as environmental sustainability, banning animal tests, fair trade and human rights.

During the Body Shop's early days critics derided Roddick's ethics above profit stance and accused her of using social issues for marketing purposes; today companies across the globe are following in her visionary footsteps.

Work perks

Google is on a mission to attract the best and brightest knowledge workers in the world. And they're doing it by rewarding staff with an impressive selection of on the job perks, says The Age.

Just some of the company's employee benefits include free gourmet food at any time of day, 24-hour gym, yoga classes, in-house doctor, nutritionist, dry cleaners and massage service.

Wharton School researchers say Google's desire to look after its staff shows the company is serious about attracting the best workers and earning their loyalty.

However, there may a downside. Researchers point out some members of staff might feel uncomfortable if they believe company benefits are designed to make them work longer and harder.

Beating the skills shortage

The best way to beat Australia's skills shortage is to focus on building a business culture that people want to be a part of, according to Smart Company.

The following tips are offered to employers eager to attract and hold onto talented members of staff:

• Turn workers into recruiters – encourage staff referrals to find people who will fit your workplace culture
• Culture club – create and maintain an appealing company culture your staff are proud to be associated with
• Headhunt – check out the competition and headhunt the best people in your industry
• Hire carefully – take your time to hire the people who fit your culture rather than rushing the recruitment process

Put your integrity to the test

Integrity is hot topic in professional circles but what does the term mean and how can you tell if you exude it or not?

To help clear up the matter management-issues.com offers the following definition: "Integrity means walking the talk when it comes to living one's true value – being authentic."

It's claimed that integrity is not like a robe you can put on and take off when it suits; it has more in common with being pregnant, i.e. you either have integrity or you don't.

Think you have it? See how you rate with this integrity test.

Revamp your sales team

If your salespeople could use a performance boost it might be worth considering the benefits of an "adaptive sales force strategy", strategy+business reports.

The approach stresses the value of achieving organic growth in the face of on-going business environment change. In summary, the strategy's five steps are: 

1. Profile – create in-depth profiles that focus on what customers care about and who makes the key purchasing decisions

2. Define – consider which sales approach works best with each customer and what kind of expertise sales force members require

3. Manage – make sure you have a structured system of management to ensure each rep knows whom they must report to

4. Outline – develop a list of required activities and timelines for every sales person based on internal and external evaluation

5. Match make – match the right people to sales roles and hire outside the firm to fill any expertise gaps in your team