Analysis for Managers: Financial Ratios
Analysis for Managers: Financial Ratios If I were to tell you that someone weighs 75 lbs, you might say that he/she is a very light person. But what if I told you that person was a one-year-old? You would probably either fall off your chair, drop you phone on the ground or just flat out think I was bluffing. And what if I told you that a certain company made a $1 million profit last year? Sounds like a big number, right? Does it change your perspective if I tell you that this company did $100 billion in sales last year? That’s only a 0.1% profit margin. Pretty slim in all reality. The...
Read MoreAnalysis for Managers: Cash Flow
Analysis for Managers: Cash Flow Have you ever been confused at the fact that you can sit at your desk and wonder, “How on Earth am I going to make payroll?” and yet the P&L (Profit and Loss statement) your accountant or QuickBooks just showed you says that your company is turning a healthy profit? Welcome to cash flow problems! This won’t be a completely comprehensive article on the subject but it should be enough to at least get you started or pique your interest. And for many, this will just be a quick review. Below are four key points regarding the ever important concept of...
Read MoreLeadership Series: Negotiating
Leadership Series: Negotiating “Negotiating? Well, that’s not for me. I’m not a salesman, lawyer or politician. Surely negotiating isn’t important in leadership.” The authors or “Getting to Yes” disagree. Their best seller starts: “Like it or not, you’re a negotiator. Negotiation is a fact of life. You discuss a raise with your boss. You try to agree with a stranger on a price for his house.” You negotiate with your co-workers on where capital investment should be allocated and what new products to deploy. Or, to provide two more examples from Getting to Yes, perhaps you’re...
Read MoreLeadership Series: Change Management
Leadership Series: Change Management John F. Kennedy once taught an important principle: “Change is the law of life. And those who look only to the past or present are certain the miss the future.” Inviting change, handling change and perhaps most importantly leading change are essential capabilities of influential leaders. So today, we’ll discuss five principles of what business strategists and behavioral economists have called, “Change Management.” See more at http://www.strategy-business.com/article/rr00006?gko=643d0 Address the “human side” systematically When change...
Read MoreLeadership Series: Storytelling
Leadership Series: Storytelling A key role of any leader is to inspire. A very effective way to inspire is through storytelling. Think of some of the most compelling accounts from history and how they’ve shaped us. The amazing tale of the forefathers and how they claimed the independence of the United States as the pilgrims immigrated across the ocean and began a new life. The great leadership of George Washington, Abraham Lincoln and others and their incredible histories. All of these stories engender in US citizens a spirit of values, self-reliance and independence. Now think of your...
Read MoreLeadership Series: Conflict
Leadership Series: Conflict Conflict. A word feared by many and a topic avoided by most everyone. But should it be that way? The answer is: NO In fact, conflict is essential to drive results. Now, we’re not talking about yelling at your co-workers or bashing people–but healthy conflict. The kind that is based on trust, engenders commitment and accountability and leads to action. Have you ever heard the saying, “if we both see things the same way, one of us isn’t necessary”? Patrick Lencioni, author of The Five Dysfunctions of a Team, provides an excellent model...
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