Corporate Games – Page 41

When NOT To File For Bankruptcy Protection

Why is GM not buying time
by filing for bankruptcy protection?

Because they would never come out of it.

Sure, bankruptcy protection
helps companies deal with creditors.
It forces creditors
to step back from payment demands
and allows the company time to reorganize.

But bankruptcy protection
also sends a signal to consumers.
It says “may be out of business soon.”

When a company goes out of business,
warranties or guarantees are worthless.
Products are discontinued.
Replacement part production is discontinued.
Support goes away.
1-800 lines are discontinued.

Warranties, guarantees and support
are important to car buyers.
Their purchase will be driven for years.

Think hard before filing.

Thanking Team Members

Elisha, one of our long time readers,
asked about how to thank direct reports.
He already sent a group thank you out,
copying the management team.

That is more than sufficient.
A sign of a great boss.

However,
if Elisha wanted to make the thank you
even more meaningful,
he could also send a individual thank you email
to each team member,
copying his own boss (or human resources).

This email would be written
as though a third party might read it
a decade from now.
There’d be an explanation of what the task was
and why it was important.

Then Elisha should casually mention verbally
(and individually)
that this is for their files.

Reference letters are dead.
Managers are too worried about lawsuits.
These thank you’s can verified without that worry.
They can also be forwarded to friends and family.

Oh, and bringing in baked goods for the team
also helps.

One Of Us

A Chinese born buddy of mine
transferred departments
in a Fortune 500 company.
His new boss was also Chinese born.

He thought he’d be promoted faster
as there wouldn’t be any
‘descrimination.’

He thought wrong.

The new boss was tougher on him
than he was on any of my buddy’s
non-Chinese born co-workers.

Because everyone’s expectations
were the same as my buddy’s,
the manager over corrected
and ended up descriminating against my buddy.

Don’t assume
just because the manager is
the same sex/race/religion,
you’ll receive fair treatment.

Humility And Leadership

In
High Altitude Leadership,
a rather gory business book,
the authors,
Chris Warner and Don Schmincke,
talk about how humility is necessary for leadership.

One way to stay humble?

“Problem solving also helps keep arrogance at bay.
A good example is a manager at the Toyota Georgetown plant.
He used his time in management meetings
to demostrate his good performance on projects
until the plant manager, Fujio Cho
(who later became the chairman of Toyota worldwide),
said to him,
‘We all know you are a good manager;
otherwise we would not have hired you.
But please talk to us about your problems
so we can all work on them together.'”

Another way to stay humble?
Take on stretch projects.

How To Spot Future Leaders

Ram Charan in
Know-How
outlines how to spot future leaders.

One way?

“They come to the point succinctly,
are clear thinkers,
and have the courage to
state a point-of-view
even though listeners may react adversely.”

Talking a lot does not a future leader make.
Also, the future leader has to have the balls
to put her job or reputation on the line.
She makes the best decisions,
not the most popular.

The Integrity Dividend And Leadership

When I’m working with a new project member,
I first give the person ‘test’ tasks.
I ask them if they can do this by a certain date.
They agree.

And then I wait.

If they accomplish that task on time,
I give them responsibilities.
If they don’t,
I know I can’t depend on them
and assign them ‘busy’ tasks.

As Tony Simons says
in
The Integrity Dividend
“…any leader’s word is his or her most potent tool,
and an effective leader devotes much attention
to developing and preserving the power of that word.
It is not about being nice.
It is not about being ethical.
It is about being more effective by
developing and preserving your credibility.”

Guard your word closely.
It is your most important asset.

Driving While Looking In The Rearview Mirror

I find it amusing that weeks after
the decision has been made,
the talking heads are still discussing
whether or not the financial bailout
should have happened.

A useless exercise.

As a businessleader,
you are paid to make decisions.

If it is a good decision,
you tuck that knowledge away for later
and move forward.

If it is a bad decision
(and you will make bad decisions,
that is a guarantee),
you take action to recover from it,
tuck that knowledge away for later,
and move forward.

There is no undo button
once a decision has been made and implemented
(even partially).
Keep looking forward.

The Downgrade Blues

Standing behind a well dressed lady
in a busier than usual McDonald’s,
I heard her say
that she hated eating there
but her husband told her
they had to save money.

When she got to the counter,
she treated the employee horribly.
Everything was a special order
and nothing was ‘right.’

No one likes to downgrade.

If you’re supplying the downgraded product,
realize that many of your customers
will be unhappy about the switch.

Treat your employees extra well
so they are able to pass that caring
onto these customers.

Aligning Goals

Last week on
Say Yes To The Dress,
a bride came in
with her team.
Her goal was to find a dress
that would make her feel beautiful.

One of her team members
was her mother.
Her mother was quite open
about hating
her daughter’s taste
(in everything).
Her goal was to force her
to dress the way SHE wanted.

Their goals were not aligned.
Every dress the daughter felt beautiful in,
the mother ripped apart.
Finally, the daughter had to ‘fire’ the mom
as an advisor.

It doesn’t matter how talented a team member
or even how much she loves you,
if your goals are not aligned,
she shouldn’t be on your team.

Don’t Ask Why

In
Ed Brodow’s
Negotiation Boot Camp,
he advises
avoiding the word ‘why.’
Instead use ‘how come.’

Why?

“If I ask you,
‘Why do you feel this way?’
you may interpret my question
as an attack.
or a value judgment.
What you may hear is,
‘You must be out of your mind
to feel this way.’
Using the more neutral
‘how come’
softens the impact of the question.
It is no longer a question,
it’s just a simple question.”