Newsletter 2 August 2010
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In this newsletter :
1.Strategy insights - McKinsey insights and free thought leadership articles
2.Change Management insights - elements to include in a change campaign
3.Leadership insights - Aspects of effective leadership
4.Personal Development - How to reach agreement
5.Career insights - Changing Career - using psychometrics for insights , cover letters,job search,interviews
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1.McKinsey Strategy insights: 2010
The Path to successful new products : Businesses with the best product development track records stand apart from their less successful peers in 3 crucial ways:
McKinsey found that after surveying more than 300 employees at 28 companies across North America and Europe—that the businesses with the best product-development track records do three things better than their less-successful peers:
They :
1. Create a clear sense of project goals early on,
2.They nurture a strong project culture in their workplace, and
3.They maintain close contact with customers throughout a project's duration.
The teams in the study that used these tactics were 17 times more likely than the laggards to have projects come in on time, five times more likely to be on budget, and twice as likely to meet their company's return-on-investment targets.
While McKinsey focused on companies in the automotive, high-tech, and medical-device industries, they believe that product makers of all sorts could benefit from the lessons learnt.
Here is a closer look at what was found:
Keep it focused
Whenever project requirements were clearly defined and communicated to teams before kickoff,the project had a greater chance of success.
In the survey, 70 percent of the people working on high-performing projects—those that ranked in the top quarter of a performance index linking best practices to outcomes—said they had a clear view of the project's scope from the beginning, compared with just one-third of poor performers.
It was found that not thinking through a project's scope early on—say an appliance maker asks developers to design a new cooking range in the four-burner category but then later expands the project to include ranges with six burners—can create delays.
The teams with a clear understanding of project requirements appeared better able to make trade-offs between product performance and things like cost, time to market, and project risk. Only 19 percent of poor performers said they had the necessary information to make those decisions.
Top performers also focused more intensely than low performers on staffing projects with the right people: 47 percent of the former researched employees' skill sets before the project kicked off to ensure the project team was well rounded. None of the low performers did.
Nurture a project culture
The top-performing companies in the survey also nurtured a strong project culture by making product development a priority. They made more of an effort than the laggards—39 percent versus 12 percent—to minimise staffing disruptions due to external demands and made sure to staff projects adequately. When people with critical skills become overburdened, they often decide on their own which of their many projects is the most important, a decision best made at the management level.
Two-thirds of top performers compared with 39 percent of poor performers said team members focused more on the success of the project than on satisfying the needs of their job function when those interests competed. They also were more likely than the laggards—44 percent versus 17 percent—to give team leaders responsibility for reviewing team members' job performances.
For example, three years ago, a North American medical-device maker in the study began an effort to stem market-share losses. Recognising that one of the company's underlying problems was that project culture was weak, the device maker gave senior team leaders ownership of projects from beginning to end, as well as authority over staffing, personnel reviews and, in some cases, profit-and-loss responsibility. The new structure encouraged leaders to make better decisions, resolve conflicts quickly and reduce delays.
Talk to the customer
The successful innovators in the study kept in close contact with customers throughout the development process. More than 80 percent of the top performers said they periodically tested and validated customer preferences during the development process, compared with just 43 percent of bottom performers. They were also twice as likely as the laggards to research what, exactly, customers wanted. That made them better able to identify and fix design concerns early on, minimizing project delays.
The medical-device maker mentioned created a matrix to identify and weigh the importance of various product features to different customer segments. It then tested trade-offs between product performance and things like price by bringing in surgeons and other medical specialists to use the product in simulated clinical settings. That allowed the team to fine-tune the product well before launch.
The result? Three years after starting its effort to shore up market share, employee satisfaction with product development increased, time to market improved for all projects—up to 40 percent in some cases— and overall gross margin rose six percentage points.
BUSINESS STRATEGY BOOKS
2.CHANGE MANAGEMENT
2.1 3 Elements to Include in Your Next Change Campaign ( from the Harvard Business Review)
Changing employee behaviour is hard because it's not a one-time decision, but rather an ongoing campaign that requires dedication and perseverance. Next time you need to spearhead a change campaign, incorporate these three elements:
1.Memorable messages.Clear, memorable, succinct messages are the foundation of a change campaign. Create a message that is emotionally compelling and easily repeated.
2.Stories. People remember stories better than they do numbers or facts. Tell stories about why the change is important or that illustrate the benefits of changing.
3.Call to action. For any campaign to be successful, the audience needs to know what it can do. Be clear about the action you want your people to take and ways they can start today.
You Tube an interesting view from :
Ken Blanchard on change management
2.2 DEALING WITH COMPLEXITY :
- Collaboration. Silos are the enemy of simplicity. Work across the organisation to identify where the complexity is and together improve the way business is done.
- Coordination. Smooth coordination is critical to finding simple solutions to the problems you're trying to solve.
- Communication. Once you've gotten rid of complexity, you can be sure it will try to find its way back in. Open and regular communication will allow you to identify it before it takes hold.
3. LEADERSHIP
3.1. THREE ASPECTS OF EFFECTIVE LEADERSHIP ( HBR)
Look for ideas everywhere. Don't assume you know where all the new and creative ideas will come from. Involve people on projects not because of their titles, but based on their ability to contribute.
Encourage openness. Create a safe environment where your people know they can — and should — think, act, and speak with reason. Have a high tolerance for mistakes so people aren't afraid to take risks.
Challenge them to get better. Offer opportunities for people to stretch their thinking and behaviour. Set the expectation that everyone, including you, should improve their skills.
- Make things happen. Once you know where you're headed, focus on the how. Again, be sure all of your people know what it takes to execute.
- Engage today's talent. Make the most of your people; engage and inspire them to do their best.
- Build tomorrow's talent. Find and build the talent you need for future success.
- Invest in yourself. You can never be a perfect leader; find ways to continually build your skills and become better.
3.4 Leading smart people
The people in your organisation who have the largest capacity to add value are not necessarily those who have the best titles or the most impressive educations. They may also not be the easiest people to manage. Here are three "dos" and "don'ts" for leading the smartest people in the room:
- Do explain things and persuade them but don't tell them what to do— smart people don't take a leader's word at face value; they need to understand why they're being asked to do something.
- Do use your expertise but don't use your hierarchy — smart people aren't impressed with titles.
- Do tell them what to do but don't tell them how to do it— smart people enjoy figuring out how to do things and will almost always rise to the challenge.
4.PERSONAL DEVELOPMENT
AGREEING?....
When aiming to reach agreement:
- Genuinely seek to find points of agreement in what the other person is saying
- If you just agree with everything there is no contribution
- To disagree at all times is annoying and irritating
- There is no need to be right all of the time so try to control your ego during discussion and focus on the subject matter
- Make a real effort to understand where the other person is coming from.What is that persons logic world?
- Consider if there are circumstances where the other persons view might be right, express these circumstances clearly and show your agreement for those specific areas.
- Acknowledge the value of someone's special experience and treat this as a strong possibility but not necessarily complete
- Reject a sweeping generalisation but see If you agree with any aspect of that generalisation when it is more fully explored
5.CAREER INSIGHTS
5.1 Using psychometrics to help explore career change
Helpful insights in an article provided by Nisa Chitaksem
Matching Your Personality To Your Career
By Nisa Chitakasem
We all know how important matching up our personality with a suitable role is to a successful career change. That said, I don’t know about you, but my personality has so many facets to it, I still don’t know how to break it down into separate traits. And even if we do have a finely-tuned awareness of our characteristics, how do we know which jobs they’re suited to? I mean, how do you know which career is appropriate for which personality type if you only have knowledge of one or two careers?
With this in mind, I’ve been trying out a few free, online psychometric personality tests specifically targeted towards career changers. Here the links to some of my favourites.
Jung Typology Test
http://www.humanmetrics.com/cgi-win/jtypes2.asp
You take the test by answering ‘yes’ or ‘no’ to a series of statements in order to determine the combination of characteristics you possess. You’re then identified as a particular personality type based on these results. Finally, they feed back a list of suitable career options and also some educational institutions where you can receive the relevant skills training for the specific career areas.
Career Psychometrics: ‘How to land your ideal job’
http://www.careerpsychometrics.com/
You have 2 minutes 45 seconds to answer a short series of multiple choice questions regarding to what extent you possess certain personality traits. After you’ve completed it, you get a free Personality Report that explicitly tells you not only what type of job is for you, but also what type of job isn’t.
Finding Potential: ‘Individuals’ Personality Questionnaire’
http://www.findingpotential.com/INDIVIDUALS/PERSONALITY/
This test takes around 15 minutes to complete and gives you a 15 page report that shows you to what extent you possess certain personality traits; gives you a detailed breakdown of these traits; and then matches work preferences and possible jobs to you in accordance with which personality traits you strongly possess and which ones you don’t.
SimilarMinds.com: ‘What Career Suits Me’?
http://similarminds.com/career.html
This one is slightly different in that it first asks you what your ‘current or desired’ career is before the test begins properly. The test itself gives you a list of statements and you indicate how strongly you agree or disagree with each one. Based on the results, you’re identified as a certain type of person (I am an ‘Idealist’) and given a list of possible professions.
PersonalityType.com (via Monster): ‘Discover Your Perfect Career’ Quiz:
http://resources.monster.com/tools/quizzes/perfectcareer/
This uses the same criteria as the Jung Typology Test, but you decide for yourself what combination of characteristics you possess, based on the test’s description of each of the four pairs of opposing characteristics on offer. Once you’ve chosen one characteristic from each pair, the test identifies your personality type and gives you a list of suitable careers.
Of course, we as career changers don’t base decisions solely on what an internet career test says. But such tests can be useful tools in throwing up suggestions we hadn’t thought of, or confirming the suitability of options we were already considering. Plus, the tests themselves can be quite fun to do! Let us know how you get on with them and if they’re any other ‘Idealists’ out there!
Nisa Chitakasem -Founder of Position Ignition, a modern day careers advisory firm for professionals offering help around careers, transition and personal & professional development
Website: www.positionignition.com
Blog: www.positionignition.com/blog
5.2 What are some of the best executive job boards to use?
Harvey Nash conducted a survey of over 500 executives about their on-line job hunting activity.
How effective do you consider the following job boards for finding executive opportunities?
30% - Exec-appointments - www.exec-appointments.com
23% - Times online - www.timesonline.com
18% - Jobs Telegraph - www.jobs.telegraph.co.uk
15% - LinkedIn - www.linkedin.com
12% - FT - www.ft.com/
10% - Executives on the Web - www.executivesontheweb.com
10% - Executive-i - www.executive-i.com
10% - Jobserve - www.jobserve.com
5% - Jobsite - www.jobsite.com
5% - Monster - www.monster.co.uk
5% - eFinancial Careers - www.efinancialcareers.co.uk
4.5% - Gold jobs - www.goldjobs.co.uk
2.5% - Silver jobs - www.silverjobs.com
LinkedInis a great resource to find jobs on-line if used effectively. However, many people do not know how to use it in an optimal way . Watch this video to find out how to network effectively, create an attention-grabbing profile, search for relevant positions, and use LinkedIn as a job-hunting resource the way it is meant to be used :
5.3 USING LINKED IN TO FIND JOBS
In today’s electronic age, LinkedIn is an essential tool for all job seekers. Because the site is an online network for over 8.5 million experienced professionals, many hiring managers and recruiters scour LinkedIn profiles to find top quality candidates.
If you’re an active job seeker you must join LinkedIn and learn the many ways the site can enhance your job search or career.
Here are 10 tips to help you enhance your job search using LinkedIn:
1. Complete your profile thoroughly. Think of your LinkedIn profile as your executive bio and complete your profile thoroughly. Often when clients tell me they’ve completed their profile and I go look at it, it’s rarely complete. This is what I mean by complete:
- Include your picture as it allows for a deeper sense of connection to you and should be part of your brand on all social networking sites.
- List your education, past employers, professional affiliations, awards, and keywords related to your jobs and activities.
- Contact past supervisors, peers and subordinates for recommendations. Also include recommendations from customers, clients and colleagues. Hiring managers and recruiters regularly check recommendations to vet potential candidates.
- Create a descriptive headline (under your name). The generic title “Corporate Attorney” will not inspire many, but IPO Specialist will certainly attract those seeking to take their companies public. Make sure your headline is something your target audience is looking for.
2. Build your network. Build your network to increase the likelihood that your profile will come up at the top of the list when hiring managers/recruiters are looking for candidates. Invite five people a day, every day, to join your network and you’ll be amazed at the results. If you’re VP Marketing, you don’t want to show up on page 10 when people are looking for marketing pros. You want to be on page 1. The more contacts you have the higher you’ll be.
3. Prepare for interviews using LinkedIn. Expand your research by reading about the people who will be interviewing you. Knowing that you went to the same school, share a sport, both love the theatre, or have an acquaintance in common is a great way to establish rapport.
4. Join LinkedIn groups. Join as many groups as possible, but concentrate first on those whose members are people who could hire you (hiring managers) or can help you find a job (recruiters/executive search consultants). You may also want to join job search support groups and industry groups.
- Larger groups allow for more potential contacts and allow you to contact fellow group member even if they are not in your direct network. This can be very valuable in your job search.
- Groups are a great source of like minded individuals and are great places search in order to expand your network.
- Four groups for job seekers include:
Star: Candidate for Hire – Group working in tandem with Linked:HR, the largest Recruiters’ Group on LinkedIn, to help top candidates find jobs quickly and efficiently.
Career Change Central – Group linking job changers and professionals in career transition with recruiters, hiring managers and career coaches.
Jobs Alert – Job search group for middle and senior-level managers worldwide.
Indeed.com – Official job search group on LinkedIn for Indeed.com.
5. Participate in discussions. Share your insights and answers to questions on discussion boards thus demonstrating your knowledge and desire to contribute. Post questions or discussion topics yourself. This will help you make valuable connections while building your personal brand. Always be sure to include your email address in your posts.
6. Search for jobs daily. LinkedIn’s job board functions like other job boards with the exception that many of the opportunities listed are exclusive to LinkedIn. In addition, many of the opportunities list the recruiters or employers who posted them, offering another level of personal connection for networking.
- Here your profile recommendations really can make a difference, for after you apply, employers and recruiters can instantly refer to your recommendations as support for your resume, cover letter and profile.
7. Ask and answer questions. Using the “Answer” tab you can contribute your knowledge and insight in your area of expertise. For example, if you are an employment lawyer who is looking for a job you can click on “Answer a question” then select “Employment law” where you’ll find two pages of employment law questions. By answering selected questions and offering your insights you will establish your brand and expertise and potentially create some networking and job opportunities.
- You can also post your own questions. If you are writing an article, which I often suggest to my job search clients, LinkedIn can be a great resource to get some ideas and answers to your own questions which can enhance the value of the content you offer others.
8. Identify target companies. You can identify companies by industry and geography to expand your list of target companies. You can filter your LinkedIn list by exploring the company’s web site and job postings. Then, by going back to LinkedIn, you can identify hiring managers and HR managers for additional information and potentially informational interviews.
9. Promote your blog and/or website. Many executive candidates have a website and/or a blog. You can promote your website/blog to the search engines by optimising them on LinkedIn. Just go to the category “My Website” on your LinkedIn profile while in the edit mode and select “Other.” You can then add your name or a descriptive phrase describing your web site/blog. This is so much more inviting than a simple URL.
10. Final Tid-bits.
- Update your profile regularly. Every time you update your whole network will be notified and you’ll get exposure.
- Include the link to your LinkedIn profile in your signature on every email. That way people can see all your credentials with one click.
- Post an “out of office” auto responder when you’re away.
5.4 COVER LETTER TOP TIPS
No matter how good your CV is, your cover letter is always going to be the first piece of information that a recruiter sees about you. Anything you write in your cover letter will help the recruiter to form their first impression of you.
Some Top 10 tips to writing the perfect cover letter:
1. Do not mass produce your cover letter. Target it for each role that you apply for.
2. If the advertisement gives a reference number, use it in your letter so that it is clear which role you are applying for.
3. Keep the letter short and simple with a punchy message.
4. Keep the sales acronym 'AIDA' in mind when composing your letter. Gain the readers Attention by introducing yourself effectively. Keep their Interest by showing that you have the skills / experience to fulfil the role. Ensure that the content is relevant to the role and the recruiter will Desire to meet with you. Make sure that your contact details are clear in order for the recruiter to Action a response to you.
5. Provide exactly what is requested in the advertisement. If you are asked to supply both your CV and a three page outline of a successful project you managed, then do so.
6. The letter may pass through a number of different hands in the recruitment chain. Do not over use technical jargon that may not be understood by people who administer the initial stages of the process.
7. Always proof read your letter and watch out for errors that a spell checker may not recognise.
8. If your application is speculative, find out the name of the person you need to forward your CV to and address your letter accordingly.
9. If replying to an advertisement, use it as the format that your letter will follow.
10. Remember that your cover letter is primarily a sales letter so concentrate on what you can do for the company.
Seven reasons why executives fail at interview - from a recent survey
1.Appearance
Conservative business attire is always the most reliable way to dress. Don't be misled by the company whose dress code is casual. Interviews are considered a formal business situation. You can dress down once you are hired.
2.Lack of preparation
Anticipate the technical and personal questions that each interviewer will most likely ask. Specifically, relate experiences you have had to the skills and personality attributes being questioned. Be prepared to answer questions with specific examples of your strengths and accomplishments.
3.Lack of/over enthusiasm
Even though companies say they hire candidates with particular skill sets, interviews depend significantly on the connection between interviewer and candidate. If you express and exhibit enthusiasm for your work, your career and the new company, you are much more likely to receive an offer. How you say something is just as important as what you say. You need to understand how your particular personality communicates during an interview. You only have one chance to make a first impression.
However, over-enthusiasm is an equal killer. The paradox is that appearance of the willingness to take any job is likely to mean ending up taking no job.
4.Negativity
Never criticise a former company, position or boss. You can "re-frame" your job frustration by talking about your desire to contribute more, participate on a team or assume greater challenges. Almost everyone has worked for a difficult boss at some point in his or her career; this is one of the top reasons why people change jobs. Keep your comments and your attitude positive; negativity about your former or current company is an interview killer.
5.Failing to listen
During the interview ask about the skills, experience and personality traits that are important to success on the job. You will then articulate these same qualities as they apply to you. If you are too busy formulating your next idea to listen carefully, you will miss this critical information. Without listening carefully to the interviewer, you are shooting at a target while blindfolded.
6.Lack of supporting evidence
People remember stories far more than they remember facts and figures. Have the evidence to illustrate each of your skills and personality attributes, and relevant and transferable experience, important to the job.
7.Lying, or over embellishing
Don't even think of lying in an interview. It will bite you on the ankle at some point. Once you start it is impossible to stop and the lie will get more and more involved. Over embellishment is a more common failing. The line between it and lying is a fine one. For an experienced recruitment consultant it is usually quite easily spotted. Be proud of your achievements, talk them up, don't make them up.
And here are more than thirty other reasons...
A recruitment company, interviewed 150 other recruitment consultants. They produced a list of the 34 most common mistakes candidates made in interviews: (in no particular order)
1. Poor personal appearance.2. Lack of interest and enthusiasm: Passive and indifferent.
3. Over emphasis on money: interested only in best offer.
4. Condemnation of past employers.
5. Failure to look at the interviewer when conversing.
6. Limp, fishy handshake.
7. Unwillingness to go where sent.
8. Late to interview.
9. Failure to express appreciation for interviewer's time.
10. Asks no questions about job.
11. Indefinite response to questions. 12. Overbearing, over aggressive, conceited with superiority or "know it all complex."
13. Inability to express self clearly: Poor voice diction, grammar.
14. Lack of planning for career: no purpose and goals.
15. Lack of confidence and poise: nervous ill at ease.
16. Failure to participate in activities.
17. Unwilling to start at the bottom-expects too much too soon.
18. Makes excuses, evasive, hedges on unfavourable factors in record.
19. Lack of tact.
20. Lack of courtesy: ill mannered.
21. Lack of maturity.
22. Lack of vitality.
23. Indecision.
24. Sloppy application.
25. Merely shopping around.
26. Wants job for short time.
27. No interest in company or industry.
28. Low moral standards.
29. Cynical.
30. Lazy.
31. Intolerant: strong prejudices.
32. Narrow interests.
33. Inability to take criticism.
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My profile:
MBA, BA and a member of the CIPD, International Coaching Federation and Association for Coaching.
I am an accredited coach with over 10 years of coaching experience and an associate consultant with Penna (UK) dealing with career, life,executive and business coaching and counselling.
I work in mentoring and coaching partnerships with executives to help achieve gains of importance to them.
In my private practice I have helped people of all ages, different cultures and job levels to understand more about themselves, their impact on others and how to develop across major dimensions in life.
My career experience includes HR Director and senior executive roles in Barclays plc and Tesco plc leading major transformation and complex change programmes reporting at Board level .
My philosophy is to totally respect the integrity and confidentiality of my clients building on their existing great skills and abilities .
Contact : PeterCobbe@coachingcosmos.com
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3.2 Leadership development based on Kouze and Posner research and methodology
The model considers 5 major practices that enable reflection and specific coaching support and challenge
2. Inspire a shared vision
3. Challenge the process
4. Enable others to act
5. Encourage the heart
Kouzes Posner also describe 10 commitments/propositions within the 5 major practices and look at ways of bringing the propositions to life :
Practice 1 : Model the way
1. Find your voice by clarifying your personal values
2. Set the example by aligning
How does it happen?
· Take time for contemplation
· Consider lessons from leaders you admire
· Create alignment around key values
· Speak about shared values with enthusiasm and confidence
· Do a personal audit
· Keep score ( e.g. 360 degree feedback)
· Ask questions
Practice 2: Inspire a shared vision
3. Envision the future by imagining exciting possibilites
4. Enlist others in a common vision by appealing to shared aspirations
How does it happen?
* Listen first – and often
* Draft a collective vision statement
* Breathe life into the vision
* Speak from the heart
* Expand your communication skills
* Find the common ground
* Get to know your “constituents”
* Hang out / keep your ear to the ground
* Determine the “something” you want to do
* Become a futurist
* Test your assumptions
REFLECTION : What makes the difference is the vision of how things could be and then clearly painting this picture for all to see and comprehend
Practice 3: Challenge the process
5. Search for opportunities by seeking innovative easy to change, grow and improve
6.Experiment and take risks by constantly generating small wins and learning from mistakes
How does it happen?
* Treat every job as an adventure
* Seek meaningful challenges for yourself
* Create meaningful challenge for others
* Give people choices
* Make it safe for others to experiment
* Question the status quo
* Break mindsets
* Admit your mistakes
* Conduct pre and post mortems of every project to gain the learning
* Look outwards for ideas
* Add fun to work
REFLECTION : How do I go to work today and do something that will move the enterprise and myself another step in the right direction
Practice 4 : Enable others to act
7.Foster collaboration by promoting cooperative goals and building trust
8. Strengthen others by sharing power and discretion
How does it happen?
* Ask questions, listen and take advice
* Always say “ we”
* Focus on gains not losses
* Create places and opportunities for informal interactions
* Offer visible support
* Enrich peoples jobs
* Enlarge peoples sphere of influence
* Create a learning climate
* Educate,educate,educate
REFLECTION: Take the time to work with staff as individuals, understand their motivation and assign tasks that complement their interest and ability. Only teamwork brings the best results.
Practice 5: Encourage the heart
9. Recognise contributions by showing appreciation for individual excellence
10. Celebrate the values and victories by creating a spirit of community
How does it happen?
* Schedule celebrations
* Be creative about rewards
* Foster positive expectations
* Say thank you
* Find people who are doing things right
* Honour exemplary actions
* Demonstrate caring by walking around
* Show passion and compassion
* Have fun
* Set the example
REFLECTION: Ceremonies , celebrations and rituals are not about the event , they are about touching the hearts and souls of every colleague and team members