Harib Shaqsy

Achieving Economies of Scale – Understanding Why Bigger Can Be Better

[ad_1] © GettyImagesake1150sbLoad up on the benefits from economies of scale "Biggest is best" and "Stack 'em high, sell 'em cheap" are not the most elegant phrases in the English language. But they accurately describe an important business reality. This is the idea that, as a company grows, it makes more of a product. The average cost of making each item then falls, so profits rise. Similarly, if a store buys more of an item, it can negotiate a discount from the wholesaler, and it can sell the item cheaper than its rivals. Economists call this "economies of scale." In this article, we'll look at the two types of economies of scale that can give businesses a competitive advantage: internal...

Read More

Breaking the Glass Ceiling – Reaching for the Top with Everyday Tools

[ad_1] © iStockphotoalexxx1981Don't let anything hold you back! Do you feel that you've gone as far as you can with your current employer? Despite knowing that you have much more potential, is there a limit for "people like you" in your organization? If so, you've hit what's known as the "glass ceiling." This is the point at which you can clearly see the next level of promotion – yet, despite your best effort, an invisible barrier seems to stop you from proceeding. Traditionally, the glass ceiling was a concept applied to women and some minorities. It was very hard, if not impossible, for them to reach upper management positions. No matter how qualified or experienced, they simply were not given opportunities...

Read More

Newsletter 494: Is Your "Finger on the Pulse"?

[ad_1] Is Your "Finger on the Pulse"? How much do you really know about what's happening on your team? You might think that you have your "finger on the pulse," but you may be unaware of tensions or problems that could be simmering under the surface.You can learn how to connect with your people more effectively, and so avoid any nasty surprises, with our articles, How to Stay "in the Loop" and Management By Wandering Around.Often, just making yourself more visible and available to your team members can give you a good idea what's happening on the "shop floor." You can find out if you really are accessible with our quiz,...

Read More

The STREET*CREDS Model For Savvy Conversations – Having the Right Conversation, in the Right Way, at the Right Time

[ad_1] © GettyImagesferrantraiteMake sure your conversations are a two-way street. Does the idea of having a difficult conversation fill you with fear? Do some exchanges leave you feeling frustrated, upset or angry? Have you ever avoided talking about something important because you simply couldn't face it? Now imagine having effective conversations every time you engage with someone, regardless of the subject. That is, communication in which everyone is involved, aware of themselves and others, and committed to a positive outcome. Such open, honest and effective conversations are the aim of the STREET*CREDS framework. In this article, we'll explore the model, and the related concept of Savvy Conversations, and how applying them can promote a sense of harmony and purpose in...

Read More

How to Stay "in the Loop" – Avoiding Nasty Surprises on Your Team

[ad_1] © GettyImagesBubbers13Stay "in the loop" by building a culture of openness. Do you ever get that nagging feeling that you don't know what's really going on with people on your team? Maybe you feel like they're talking about you behind your back. Or, worse, deliberately leaving you out of important decisions. No one likes to be left out. It can make you feel anxious, and might even cause you to question your ability as a manager. After all, how can you do your job if you don't know what’s going on? Don't people trust you? Have you done something wrong? And is the team on course to meet its objectives? Your priorities, decision-making, working relationships, stress levels, and professional...

Read More

Just in Time (JIT) – Reducing Inventory, Minimizing Waste, and Responding to Your Customers

[ad_1] © iStockphotosloboWhen items are ready just in time, they don't occupy so much space. When is the best time to have an inventory part ready for production? Just in time. When is the best time to have an item ready for the next step in production? Just in time. When is the best time to have a product ready for delivery to a customer? Just in time. So why do manufacturers build inventory of both finished goods and raw materials? Just in case! A buffer of inventory on hand is comforting – and costly. If you hold a lot of items in inventory, you're locking away a huge amount of cash unnecessarily. These items can be lost, stolen, or damaged, or they can...

Read More

How to Be Ethical at Work – Making the Right Call For You and Your Team

[ad_1] © GettyImagesbyheavenMake sure that you're heading in the right direction, ethically. Did you ever do something at work that went against your instincts or "better judgment"? You may have "tweaked" a set of figures to enhance the quality of your performance or "overlooked" a borderline test result on a project. Or, maybe you just used the last of the coffee in the office kitchen and didn't replace it. Most of us will have committed at least one small "sin" that we felt bad about. And, it's possible that our behavior could be regarded as unethical on occasion. Ethics are the principles that govern the conduct of individuals or groups. They are the rules that tell you how you should...

Read More

The CEDAR Feedback Model – Feeding Back, Collaboratively

[ad_1] © GettyImagesmbbirdyUse CEDAR to get your people on board with giving and receiving feedback. Managers worry a lot about giving feedback, and with good reason. If delivered correctly, it has the potential to inspire and motivate people. Conversely, if delivered poorly, it can upset and alienate them. But giving feedback is an essential part of a manager's responsibilities. Exploring what's going well – and what's not – is one of the most important ways to help your people to achieve their personal and organizational goals, and it can help to build successful and progressive workplaces. At the same time, you need to make sure that your people are on board and open to feedback. This is where the CEDAR™...

Read More

Newsletter 492: Now's the Time for Letting Go!

[ad_1] Now's the Time for Letting Go! Successful people can see the bigger picture. They don't get stuck in the detail. Instead, they perform the art of letting go by allowing others to excel and by embracing the present.Hanging onto grievances, or harboring grudges, are traits that can hold back people who otherwise buzz with potential. Our latest video, 10 Ideas for Random Acts of Kindness, will steer you and your team away from negativity and toward happiness and productivity."Letting go" was the theme of our recent Twitter chat, and you can explore our followers' reactions and experiences in the follow-up #MTtalk blog. Then test your own abilities with our quiz,...

Read More

Interpersonal Skills: Start Here – Building Highly Effective Working Relationships

[ad_1] © GettyImagesefetovaGreat interpersonal skills will help you to find the perfect blend for your team. "No man is an island." – John Donne (1572–1631) You may not realize it, but interpersonal skills, or people skills, are something you already have. After all, you've been learning how to get along with others since the day you were born! But positive daily interactions don't always "just happen," whether in business or in our personal lives. Getting the results that you need can be difficult when you don't "click" with people, or if you don't know how to act or what to say. That's why strong interpersonal skills are as important in the workplace as "hard" technical skills or formal qualifications, regardless...

Read More

Back to Main Page
Support