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19 Replies Last post : Feb 13, 2010 7:28 AM byMelinda Keeney  
58 posts since
Apr 17, 2009
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What is one management "best practice"  that you admire at your company, or someone else's?

Creation Date : Jan 26, 2010 12:53 PM | Modification Date : Feb 12, 2010 10:41 AM

No company, big or small, does business by the book, as much as management consultants would hope they do. The truth is, every company invents and refines its own management methods, conventions, habits, processes, and practices — and puts its own idiosyncratic stamp on them all. Every company, for instance, has its own methods for doing everything from running a brainstorm meeting to managing the balance sheet.

 

That's a lot of great management wisdom that plenty of growing companies can learn from — and we'd like to make Bizmore a clearinghouse where business owners and managers can share some of these trade secrets.

 

So in that spirit, what's one great "best practice" in your business — or someone else's — that you think every business would be smart to adopt? Chime in with your ideas —- we'll be expanding on some of your answers and helping spread the word. We're interested in all facets of management here — executive management, strategic planning, HR and recruiting, sales and marketing, finance and so on.

 

To make this a little more interesting for you, we’ll be giving away a $100 Amazon gift card to the Bizmore member who contributes our favorite response.*

 

We'll announce the winner here in the coming weeks. What are you waiting for? Tell us now.

Thanks for participating — have fun!

 

(The Bizmore editorial team will select the favorite post. Bizmore employees, bloggers and experts are not eligible. No purchase necessary. Contest ends Feb. 21, 2010 at 11:59pm PST

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61 posts since
Apr 4, 2009

We're so curious about your thoughts on this topic that Bizmore has decided to make this Q&A discussion a contest.  We're going to give away a $100 Amazon gift card to the author of our favorite submission.

 

Contest Terms: The favorite post will be selected by the Bizmore editorial team. Bizmore employees, bloggers and experts are not eligible. No purchase necessary. Contest ends Feb. 21, 2010 at 11:59pm PST.

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1 posts since
Sep 23, 2009

Leadership involves empowering your people. We set up the "Listening Committee". Six (6) members of the rank and file sit with the CEO monthly for 45 minutes, on company paid time, and tell him/her how to improve the company's performance. The only item that is not permitted is attacking a supervisor. No more than five day after the meeting minutes are published and circulated to the entire company. What was suggested is listed but, the person who made the suggestion is not identified. However, the members of the committee are listed. Not more then 10 days after the minutes are distributed the CEO responds with the Action Bulletin specifying what will or what cannot be done with an estimated time table for resolution. The members are assigned the task of getting ideas from their colleagues. After two sessions three members are replaced with 3 new members and there is continual rotation through the work force. The key to the success of this program is the action that becomes visable to the people. There are more details to establish the program and I would be pleased to talk with your staff about this very effecitve way of establishing beliefs that build the team.

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6 posts since
Jun 22, 2009

Expert Answer

I really like this! It's like my open office hours, but it sounds like your company is a bit bigger than ours.  A great replacement to office hours when we get to more than 30 or so employees.

Gini Dietrich

Gini is the founder of Arment Dietrich, Inc., a Chicago-based firm that teaches companies how to use online communication for business growth. She has a passion for Global Domination and cycling.

As CEO, Gini works with c-level executives on using online technology to develop and foster relationships for better and more efficient communication. Her team works to develop strategies that build communities, generate leads, cultivate those leads, and convert them...all while tying efforts to improved profitability.

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17 posts since
Sep 19, 2009

Expert Answer

One best practice idea, eh? Just one? OK, here it is: Evaulate every new employee's decision-making ability.

Sounds easy enough, right? Nope--it's not.

 

Case in point: Let's disect Dustin's clever, while textbook, enticement with a monetary incentive to persuade, ever so smoothly, that you and I  post on this topic of the "one" best practices idea. Dustin is well-schooled in the art of influencing behavior, as you can see. Well done, young Jedi. Well done. He's utilized  the most common form of motivational tactics: A Reward--The $100 Amazon Gift Card. Did you notice how the $ sign caught your eye while reading this line even before you got to the $ symbol. Oh we are so predictable.

 

Oh, Dustin, how could you? I'm on to your ploy, my friend. You think my ideas and involvement can be lured away from my far more productive work during my day, just to see my name and ideas in the public domain--for all the world to see--for perhaps eternity?  You have underestimated my motives, young Jedi. I am motivated far beyond your dangled carrot (although I'll take it, by the way) that appeals to some of us. Truth be told I had made the decision to post even before I saw your bribe, your cunning exploitation of my deeper motives. So there.

 

So what just happened here? Why had I made the "decision" to post on this topic before I saw the REWARD? Answer: My decision-making process.

We make decisions thousands of times per day. Every voluntary action and thought requires a decision. So, if you can measure and examine how and why people make decisions, you can then develop patterns, "archetypes" or models, some would suggest, and then will even be able to predict the decisions a person will make for a given situation. Consider for a moment how valuable this skill to predict or learning how to access decision-making patterns would be when hiring a new employee, selling to a customer, speaking to a group of shareholders, negoitating with a terrorist, etc. Another example: Blue. Science can prove that your eye was drawn to this red-colored word before you started to read this paragraph. And you had a disconnect because the word blue was a red color. Your decision-making process was already milliseconds ahead of you suggesting something ain't right.

 

Fact:  People are successful in their respective careers because of how they make decisions. (Let's define "success" in this example as consistent job tenure of 3-5 years or more for each job, a income in the top 10% of wage earners in their industry, promoted in their jobs in over 50% of the time, free of substance abuse/addictions, and have a balanced personal life.) When interviewing potential candidates in an interview, my experience and research has shown less time is spent with finding out "why" the person made the decisions they did. The questions focus more on "what the person did in their job...how they did their job...who they worked with...when did they leave? These questions don't reveal a person's thought process--only their actions and outcomes. The questions don't reveal a system or process of decision-making. Asking "Why did you accept that job in the first place? Why were you laid off first out of 15 managers to pick from? Why did you decide to become a Undertaker?" will reveal clues to deeper motives beyond the REWARD of a paycheck, stability, health insurance benefits, etc.

 

My decision to post here is based on decisions I made at age 15, for example, when I took a typing class in high school. I knew then I enjoyed writing and typing was the fastest way to get thoughts on paper. My decision to post here came from accepting Bizmore's invitation for me to be a subject expert contributor. This invitation to contribute appealed to my sense of self-worth, self-confidence, a platform do present my insights and research, and my decision to write more about behavioral science issues. The REWARD for me is ultimately--and out of necessity--money. I have two in college and bills to pay and I am a businessman. However, the money received is a direct result of demonstrating value to my clients when doing executive searches for them by helping them make better decisions. If I can do this great, they pay me more money than Dustin can offer me right now.

 

Find ways to include more "why" questions into your interviewing sessions, when talking with customers, meeting with friends, talking with your boss. Why reveals motive and motive leads you to formulating a better solution for your customer or saying the right thing to help a person in need.

And thanks for the added incentive, Dustin. And the color of  $ never hurts to attract attention.

 

One best practice: study decision-making habits.

 

Russ Riendeau

East Wing Search

Russell Riendeau, PhD

Russ Riendeau is the founder of East Wing Group, Inc., an executive search firm. He has interviewed over 78,000 business professionals, written five books on talent acquisition and retention strategies, appeared in thousands of media outlets, is a keynote speaker, and is a faculty appointee at Northwestern University's School of Continuing Studies.

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1 posts since
Jan 28, 2010

Hire for attitude, train for aptitude. As a manager, I cannot stress the importance of a positive attitude and go getter spirit. Those who have the skills, but lack motivation and are overly self entitled do nothing but hurt an organization.

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6 posts since
Jun 22, 2009

Expert Answer

I hold open office hours every Wednesday from 9-11. We have a culture of transparency and openness, but the bigger we get (and with my travel schedule), the harder it is for me to get around and talk to everyone. So we decided open office hours would allow anyone to come in and ask me anything they like. It's my job to listen, not react, and not speak (unless asked a direct question). Everyone from the interns, on up, find a reason to come in to see me during open office hours. It's become my favorite time of the week.

Gini Dietrich

Gini is the founder of Arment Dietrich, Inc., a Chicago-based firm that teaches companies how to use online communication for business growth. She has a passion for Global Domination and cycling.

As CEO, Gini works with c-level executives on using online technology to develop and foster relationships for better and more efficient communication. Her team works to develop strategies that build communities, generate leads, cultivate those leads, and convert them...all while tying efforts to improved profitability.

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6 posts since
Jun 22, 2009

Expert Answer

Gosh. Let me think about it. I think the most interesting, to me, is one day we had a couple of police officers come by the office to see about our donating to their foundation. I talked to them and sent them on their way. I didn't think anything of it. Well, one of our most junior people had answered the phone when they called to be let into the building. Apparently all they said was, "Police! Let us in!" It took nearly five weeks for me to hear that side of things. My staff was scared to death something big was going on. For five weeks. It finally came up during open office hours. I tried not to laugh, and then addressed it in the staff meeting. We also talked about how nothing should simmer like that for five weeks. Open office hours are meant for those kinds of conversations. Then people started getting pretty bold.

Gini Dietrich

Gini is the founder of Arment Dietrich, Inc., a Chicago-based firm that teaches companies how to use online communication for business growth. She has a passion for Global Domination and cycling.

As CEO, Gini works with c-level executives on using online technology to develop and foster relationships for better and more efficient communication. Her team works to develop strategies that build communities, generate leads, cultivate those leads, and convert them...all while tying efforts to improved profitability.

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1 posts since
Aug 11, 2009

Get clear on what winning looks like!  Most individuals and organizations are running fast today.  But what race are they running and how will they know if they win?  If you are not clear on winning, your energy is highly likely to get diverted into less important tasks every day.  Getting clear requires moving beyond defining key operating metris.  The financials are, of course, critical, but revenue, margin, and EBITDA targets do not drive day to day behaviors for most of your employees.  Start with key operating metrics and then complete the picture of winning by defining it in multiple categories.  Your goal is to paint a Rembrandt - a picture with rich details of what it looks like when you get to where you want to go.  This clarity will contribute significantly to driving behaviors that get you to your desired destination.  Consider the following categories to trigger your brain:  how the culture will be including the attitudes, beliefs, values, and operating principles; what skills/knowledge/abilities will exist (by team & throughout the organization); what structures will be in place; what processes and metrics will be used; what tools, systems and technology will be in place; what products/services will be in market and which ones will be in development; who will your competitors be; what will your brand represent; what will customer/client relationships look like... (you get the idea).

 

Once you define winning, make sure it remains visible.

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17 posts since
Sep 19, 2009

Expert Answer

Jeff, Examples of companies that do a good job of interviewing incoming talent relative to decision-making ability are difficult to identify.

General Electric, for one, is very thorough in their process. I worked as an adjunct instructor there for a while and saw their process. It was intense and weeded out individuals that didn't have the skills to work at a higher level in business.

One way to increase interviewing effectiveness to flush out decision-making skills is simply by taking better notes, using a interview checklist or form with more behavior-based questions (for examples of behavioral questions go to www.eastwingsearchgroup.com/mediacenter for a list). The more you ask the candidate to tell their story, the more insights you'll gain and see the patterns and process.

Russell Riendeau, PhD

Russ Riendeau is the founder of East Wing Group, Inc., an executive search firm. He has interviewed over 78,000 business professionals, written five books on talent acquisition and retention strategies, appeared in thousands of media outlets, is a keynote speaker, and is a faculty appointee at Northwestern University's School of Continuing Studies.

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17 posts since
Sep 19, 2009

Expert Answer

Jeff, This just in! Here's a link to an article I wrote for Vistage with 10 great questions to learn about decision-making abilities.

Russ

Russell Riendeau, PhD

Russ Riendeau is the founder of East Wing Group, Inc., an executive search firm. He has interviewed over 78,000 business professionals, written five books on talent acquisition and retention strategies, appeared in thousands of media outlets, is a keynote speaker, and is a faculty appointee at Northwestern University's School of Continuing Studies.

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50 posts since
Jul 9, 2009

Leadership that's in touch with the regular folks and customers.

 

I see so many situations where executive management live in mahogany row without any real sense of what's going on in reality. Like what's been going on in Washington D.C. for a long time, especially now. Here's a great follow-on piece I just came across that sheds more light on the subject:

 

See-E-O or No-See? Why are CEOs hiding?

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17 posts since
Jul 15, 2009

The best practice I admire is measuring the expected ROI (return on investment) on every initiative. Whenever I or any of my colleagues consider a new business initiative, we make certain to carefully measure the expected gains and weigh them against the effort needed to launch the initiative. This enables us to 1) determine if the gains are significant enough to justify the effort and 2) help us prioritize which projects to focus on. Employing this strategy consistently has proven extremely valuable in my company as well as many others.

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5 posts since
Oct 7, 2009

One best practice I subscribe to I learned from Intuit: Follow your customers home. When you “speak” with your customers you get one level of feedback. But, if you follow them to their home or to wherever it is that they use your product you get an entirely new level of insight into how your product or service works – how are your customers really using your product? By truly knowing  your customers, you can make smart, customer-centric modifications to your product or service that will have immediate benefit.

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1 posts since
Feb 12, 2010

ANNUAL RETREAT

 

We are a small company with many partners.  The entire company takes an annual retreat the last week of the year.   Each day is short with one objective for the day.  It's a very simple plan so all can participate.

 

1.  Reflection....What did we do right? What did we do wrong?

2.  Ideas.....Brainstorming.  Everything is on the table.  We even invite some of our long-term partners to a session.

3.  Strategies....Which ones are the best ideas?  That means which ones do the employees want to support.

4.  Plans...How can we implement our strategies?  This means that the required parties define how they can accomplish the strategy with focus on deliverable.

5.  Action...Assign the tasks. Adopt the Goal for the Year.  2010 Goal:Embrace Change.  This is a half-day session.

 

At least 2 1/2 days off...For rest, relaxation, and rejuvenation.

 

This retreat has been in place for 6 years since we incorporated.  Granted we are small, but buy-in at any size is critical. Also, since we are small we can adapt more easily to the market. If we make wrong choices in one year, we just have to wait for the annual retreat to implement a replacement strategy.  This alone eliminates a lot of stress in the workplace.  This also let's employees come to the table prepared.  The most important factor though is sometimes you'll hear them say Embrace Change, even if it is sarcastic, everyone is on the same page and working towards the same goal. 

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