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In this COVID-19 World, Be realistic, But Optimistic.

optimistic

In this COVID-19 World, Be realistic, But Optimistic.

As business leaders, our goal is always to lead our teams to success. During these challenging COVID-19 times, it’s critical to strike the right adaptive mindset and not over- or under-react. We need to find a way not to be pessimistic, but also balance realism with optimism. As William Arthur Warn said: The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails. The balance of optimism with realism during these challenging times is the way business leaders can win.

James Stockdale, the United States Navy Vice Admiral and aviator was awarded the Medal of Honor in the Vietnam War, during which he was a prisoner of war for over seven years and survived when so many others did not. Stockdale explained his significant insight as the following: “You must never confuse faith that you will prevail in the end—which you can never afford to lose—with the discipline to confront the most brutal facts of your current reality, whatever they might be.”

This is indeed a paradox. Although we’re not prisoners of war, we relate to Admiral Stockdale in not knowing how long we’ll be wrestling with the challenges brought on by the COVID-19 Pandemic.  As business leaders, if we ignore the challenges on our teams, the leader will be naïve and out of touch. If the leader mires in the challenges, they risk creating a culture of pessimism that will demoralize and demotivate the team and undermine its effectiveness.

To promote Stockdale’s prevailing mindset as leaders of a team there are two helpful strategies.

The disruptive nature of working remotely 100% of the time while balancing personal and family challenges during COVID-19 requires a team to learn how to ruthlessly prioritize with more structure and pace without slowing the team down.

Rally team members around short-term goals to ensure “quick wins” and build morale.

Realistic business leaders will excel by keeping emotion out of the equation in business decision making. Adding optimism to realism allows leaders to see the brighter side of things demonstrating to team members that things will get better day by day. As Edwin Bliss stated: “Success doesn’t mean the absence of failures; it means the attainment of ultimate objectives. It means winning the war, not every battle”.  

Winning leaders and teams make things happen, plan, and prepare instead of hunkering down and waiting. Winning leaders see potential were the less successful dwell on the past. Winning business leaders might not know “how” they will excel and achieve their goals, but they always believe that they will figure it out. They know that effort is the great equalizer. If they do not already know what to do, they will learn it and perfect it. Successful leaders during this COVID-19 pandemic understand that worry, fear, action, and gratitude are all choices you get to make and that apathy is the enemy of achieving something great. Use the difficult times to realize as a leader of a business, this is the second chance your team has always been asking for. It’s critical to make decisions quickly during this difficult time. However, a business decision that is easy or guaranteed is bound not to be highly successful in the long run.

Overly optimistic business leaders believe in their soul that nothing — absolutely nothing — is impossible. However, unrealistic optimism and accepting that you are more likely to experience pleasant events, and less likely than others to experience negative ones can lead to disengagement of a team and hamper trust. A team that is blinded by optimism will not be able to change course when trouble is encountered. Therefore, it’s critical to ensure realism keeps optimism in check.

Pessimist business leaders tend to believe that bad situations are the fault of others or the internal team, and that good business outcomes are not caused by anything they or others have done, and most likely cannot be repeated.

So, when it comes to optimism or pessimism, “hope for the best, prepare for the worst” is an ideal motto. To achieve that, you must be honest with yourself about your approach and outlook.

Whether you believe the world is conspiring against us, or if you believe that the world is conspiring in our favor, it doesn’t make it any more or less realistic.

A business leader can be optimistic or pessimistic, but there is a also third state of mind called, Being A Realistic Optimist. This means that in general and for most business situations, a leader is an optimistic thinker. However, in particularly challenging conditions (e.g., before and during very complicated negotiations with many unknown and unfavorable variables) a leader might apply a more conservative style.

Optimism balanced by realism shines when faced with extreme challenge. Optimists choose to look for positivity in the situation, and most importantly, they always take action towards a better outcome, regardless of the problem.

Let’s take a moment to define optimism:

A tendency to look on the more favorable side of events or conditions and expect the most favorable outcome.” -Courtesy of Dictionary.com

What’s so unrealistic (or unhealthy) about that? Optimistic leaders believe that things will work out because in their minds believing in the alternative makes absolutely no sense. No matter what a leader’s goal, they have no control over the future. There is no one reading these words which can predict the future. And because of that, we have a genuine choice that we need to make about our expectations.

Since none of us know what will happen next, wouldn’t it make sense to always focus our expectations on what we want to happen in our lives instead of what we do not want to happen?

The word “Optimism “is originally derived from the Latin optimum, meaning “best.” Being optimistic, in the typical sense of the word, ultimately means one expects the best possible outcome from any given situation.

There are only two ways to live your life. One is as though nothing is a miracle. The other is as though everything is a miracle (Albert Einstein).

Research has found that positive, i.e., optimistic thinking can aid in coping with stress, in becoming more resilient, in being more courageous, and plays a significant role in improving one’s health and well-being.

According to Martin Seligmann, people with a so-called optimistic explanatory style tend to give themselves credit when good things happen and typically blame outside forces for bad outcomes. They also look at adverse events as temporary and atypical.

Albert Bandura, one of the founding fathers of modern psychology, argued decades ago that optimism is the basis for creating and maintaining motivation to reach goals. And that an individual’s success is mostly based on the fact of whether they believe they will succeed. The results of his findings have yet to be proven wrong.

Unrealistic optimists (I also refer to them as naive realists), on the one hand, are convinced that success will happen to them almost automatically and that they will succeed effortlessly. Some of them even think (and hope) that only by sending out positive thoughts, the universe might reward them by transforming all of their wishes and aspirations into reality.

Realistic optimists are vigorously optimistic, too. They firmly believe that they make things happen and that they will succeed. They do not doubt it. Saying that, on the other hand, they perfectly know that in order of being successful, they have to plan well, to access all necessary resources, to stay focused and persistent, to evaluate different options, and to execute in excellence.

Being both optimistic and realistic, i.e., combining the two into one behavioral style of realistic optimism, creates a special breed of very successful people. Natural optimists stay positive and upbeat about the future, even – and especially – if and when they recognize the challenges ahead. As such, realism and optimism are not diametrically opposed. The contrary is true: They compellingly complement each other!

In case of doubt – and mostly if you want to achieve something very unique and impactful – the optimist in you should outwit your realist. Why? The realist might be too prone to anxiety. The optimist, however, if stimulated and guided well, will activate your fantasy, imagination, and boldness.

But there is an important caveat: to be successful, you need to understand the vital difference between believing you will succeed and believing you will succeed easily. Put another way, it’s the difference between being a realistic optimist and an unrealistic optimist.

Realistic optimists believe they will succeed, but also believe they have to make success happen — through things like effort, careful planning, persistence, and choosing the right strategies. They recognize the need for giving serious thought to how they will deal with obstacles. This preparation only increases their confidence in their ability to get things done.

Unrealistic optimists, on the other hand, believe that success will happen to them — that the universe will reward them for all their positive thinking, or that somehow they will be transformed overnight into the kind of person for whom obstacles cease to exist. (Forgetting that even Superman had Kryptonite. And a secret identity that took a lot of trouble to maintain and relationship issues.)

Believing that the road to success will be rocky leads to tremendous success because it forces you to take action. People who are confident that they will succeed, and equally confident that success won’t come easily, put in more effort, plan how they’ll deal with problems before they arise, and persist longer in the face of difficulty like the COVID-19 Pandemic.

Unrealistic optimists are only too happy to tell you that you are “being negative” when you dare to express concerns, harbor reservations, or dwell too long on obstacles that stand in the way of your goal. In truth, this kind of thinking is a necessary step in any successful endeavor, and it’s not at all antithetical to confident optimism. Focusing only on what we want, to the exclusion of everything else, is just the naïve and reckless thinking that has landed industry leaders (and at times, entire industries) in hot water during this difficult period.

Cultivate your realistic optimism by combining a positive attitude with an honest assessment of the challenges that await you. Don’t visualize success — visualize the steps you will take to make success happen.

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If you have any questions or would like help in the area of Compliance and Controls please do not hesitate to contact Frank at frank@ationadvisory.com or visit my website at www.ationadvisory.comAtion Advisory Group has expert financial and operational experience in development, manufacturing, distribution, and sales spanning 55 countries and, six continents, delivering individualized, proven methods to build out and implement highly successful and sustainable country-specific goals.  All executed with 100% FCPA (Foreign Corrupt Practices Act) compliance.

techniques

Top 4 Techniques for Leadership in the Ever-Expansive Global Marketplace

Leadership has always been at the forefront of management training. However, the four functions of management depict leadership as one of the four. For instance, Henri Fayol has been posited as the forefather of the functions of management.  He had more than four in his original publication in France which was translated to English in the 1930s.

Leadership, being a strong component of management has manifested itself into the forefront of many executives and aspiring leaders. Today, the question remains, can leaders be made, or do they have to be born leaders to be successful? Before attempting to answer this question, let us agree that leaders can be made and that being a born leader may be an additional attribute of leadership.

Leadership has been highlighted as the behavior indicative of friendship, mutual trust, respect, and warmth. The key to leadership is based upon satisfying basic needs and verbalizing feelings of admiration, respect, and trust toward themselves to meet higher desires through inspiring followers to provide newer solutions and create a better workplace.  Sure, there are critics of this leadership style, but do not let that stop you from implementing it and learning how to master it.

Leadership unfolds results in organizations, influencing employee individual interests to align with institutional interests, and inspiring followers to create new ideas and innovation for effective business outcomes. In fact, a leader treating human capital as an individual quality becomes a role model who is trusted, admired, and respected by followers.

Executives can be made into leaders and leaders can become better at what they do by using the four techniques of effective leadership. These four techniques include:

1. Idealized influence,

2. Individualized consideration,

3. Intellectual stimulation, and;

4. Inspirational motivation.

Executives can use idealized influence when aiming to develop a shared vision and improve relationships with followers. In doing this technique, executives need to take the following actions:

-Instill pride in organizational members for being associated with them.

-Display a sense of power and confidence.

-Go beyond self-interest for the good of the organization.

-Talk about their most important values and beliefs.

-Consider the moral and ethical consequences of decisions.

-Emphasize the importance of having a collective sense of mission.

Executives can use individualized consideration when they would like to concentrate on identifying employee’s individual needs and empowering followers in order to build a learning climate. In doing this technique, executives need to take the following actions:

-Spend time coaching others.

-Consider employees as having different needs, abilities, and aspirations from others.

-Help organizational members to develop their strengths, and provide various formal training programs to improve the performance of duties

Executives can use intellectual stimulation to propel knowledge sharing in the company to generate more innovative ideas and solutions for new and demanding issues that come up constantly in our hypercompetitive economic environment. In doing this technique, executives need to take the following actions:

-Emphasis on the effective coordination among different functional areas, and seek differing perspectives when solving problems.

-Suggest new ways of looking at how to complete assignments, and undertake a comprehensive analysis when confronted with an important decision.

Executives can use inspirational motivation to focus on inspiring people and not just treat them as human assets. This sets a higher level of desired expectations for them. In doing this technique, executives need to take the following actions:

-Talk optimistically about the future

-Talk enthusiastically about what needs to be accomplished.

-Express confidence that the goals will be achieved.

The four techniques of effective leadership mentioned above, when carried out correctly, can present a set of practices for effective leadership. These four techniques of effective leadership represent how an effective leader working in today’s knowledge-based economy can develop and manage intellectual capital in corporations. There are some differences between practical leadership and trait perspective.

The researchers associated with trait perspective believed that a great man or great leader, man or woman, was born to lead and not made into a leader. In contrast, followers can be made into leaders and leaders can become better at what they do by using the four techniques of effective leadership. Therefore, the great man/woman at the topmost levels of organizations can prosper and excel by simply applying the techniques of effective leadership.

One example of great leaders in a highly competitive environment is Steve Jobs, former leader of Apple, who built a highly effective organization through taking a change-oriented leadership approach which highly manifested itself in talent development, organizational structure, and inspiring vision for the future. Jobs generated a shared and inspiring vision for future expansion into global markets. Also, he built a learning climate through identifying intellectual capital and empowering them.

Most importantly, Jobs transformed Apple by attempting to change the basic values, beliefs, and attitudes of followers so that they were willing to perform beyond their previous or originally level specified by Apple in their job description. He also contributed to new products and services to meet dynamic market needs, through inspirational motivation and higher expectations for new and strategic opportunities to meet the needs of customers in the marketplace.

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Mostafa Sayyadi works with senior business leaders to effectively develop innovation in companies and helps companies—from start-ups to the Fortune 100—succeed by improving the effectiveness of their leaders. He is a business book author and a long-time contributor to business publications and his work has been featured in top-flight business publications.

culture

Develop a Strong Business Culture to Effectively Identify, Satisfy and Retain the Most Talented Employees

Culture is the resource that builds upon the foundations that helps organizations prosper. Edgar Schein, one of the prominent management scholars, describes corporate culture as a pattern of shared basic assumptions that the group learned as it solved its problems of external adaptation and internal integration that has worked well enough to be considered valid, therefore, to be taught to new members as the correct way to perceive, think, and feel in relation to those problems. Corporate culture is reflected in shared assumptions, symbols, beliefs, values, and norms that specify how employees understand problems and appropriately react to them.

Executives can manifest themselves as change agents who manipulate corporate culture with the aim of improving knowledge management. Organizational culture includes three dimensions of collaboration, trust, and learning. Executives can facilitate collaboration by developing relationships in organizations. Executive can contribute to the cultural aspect of trust, through considering both employee’s individual interests and the company’s essential needs. Also, executives identify the individual needs of their employees and develop a learning culture by intellectually stimulating them to generate new knowledge and share it with others. Executives can, therefore, highly manipulate a firm’s culture to conform to the needs and expectations of strategic goals and objectives.

Knowledge management is enhanced by providing further opportunities and information sharing. Executives can enhance knowledge sharing by providing access to knowledge, and stimulate new ideas and knowledge generation, transfer an individual’s knowledge to other members and departments and improve knowledge capturing, storing, and accumulating, aiming at achieving organizational goals. Executives can propel knowledge sharing in the company to generate more innovative ideas and solutions for new and demanding issues that come up constantly in our hypercompetitive economic environment. In doing this, executives can build a strong corporate culture to share experiences gained by imitating, observing, and practicing.

Executives have found that corporate culture impacts knowledge management through facilitating knowledge sharing throughout all levels of the organization. Corporate culture focuses on defining and recognizing core knowledge areas, sharing organizational knowledge, and scanning for new knowledge to keep the quality of their product or services continuously improving. Therefore, corporate culture is an essential requirement of corporate leaning by which knowledge is shared among people.

Particularly, the three cultural aspects of collaboration, trust, and learning play a critical role in enhancing the effectiveness of corporate leaning. For example, collaboration provides a shared understanding of the current issues and problems among employees, which helps to generate new ideas within organizations. Trust towards their leader’s decisions is a necessary precursor to creating new knowledge. The key is for executives to inculcate a culture of trust and transparency of knowledge sharing within organizations so that information can be found and used instantaneously.

Moreover, the amount of time spent learning is positively related to the amount of knowledge gained, shared, and implemented. Therefore, executives can reshape, and in some cases, manipulate corporate culture to facilitate corporate leaning within departmental and business units of organizations. Executives can now see how corporate culture constitutes the foundation of a supportive workplace to share and synthesize organizational knowledge and subsequently limit the gaps between success and possible failure.

Furthermore, executives have found that knowledge management as modifying behaviors resulting in newer insight and knowledge. Changing the existing behaviors of followers generating new knowledge, and is, therefore, a key factor in improving a firm’s competitive advantage. This is a fact but it happens through the way talented employees are managed by executives. Why is this, you may ask? Because knowledge management is a process that leads to acquiring new insights and knowledge, and potentially to correct sub-optimal or ineffective actions and behaviors that cause companies to spiral out of control.

Executives need to first support this approach for knowledge management because talent management in organizations is the ultimate outcome of the knowledge management by which knowledge is created and acquired. This is done by connecting knowledge with others that want to share successes and failures. This leads to converting acquired knowledge into organizational processes and activities to improve or discontinue processes that either contribute or inhibit success. Many executives see talent management as an outcome of various factors such as knowledge management and a climate inspiring innovation and creativity within organizations. However, a more comprehensive approach needs to be introduced to put together the various aspects of potential contributions to talent management.

Knowledge management requires various processes such as knowledge acquisition, collaboration, dissemination, sharing, generation, and storage to acquire knowledge within an organization. A question remains, how can we establish the relationship between knowledge management and talent management? Well, there are scholars that highlight the strategic role of knowledge management in enhancing the effectiveness of talent management. For example, one scholar by the name of Bayyavarapu in the University of Western Ontario suggests a learning-based approach to talent management to understand how knowledge management is related to various practices of talent management. More importantly, the effective implementation of talent management requires the sharing of best practices and experiences among employees.

Knowledge management improves organizational processes by sharing knowledge that can increase both follower engagement and personal development. Executives can, in fact, enhance knowledge management when they would like to concentrate on sharing knowledge to empower followers in order to build a learning climate. Most importantly, in knowledge management, knowledge is managed through “learning by doing” which is more engaging. Executives around the globe realize that they play a critical role to achieve the best learning climate and for improving knowledge management that creates learning and growing the organization.

Engaging followers and getting them to participate in knowledge management activities is an important part of talent management. Thus, knowledge management positively impacts the effectiveness of talent management through facilitating knowledge sharing by all executives and employees of the organization. Shared knowledge can contribute to the development of a learning organization in which people continuously grow and develop both personally and professionally. Executives require people who are engaged and inspired to meet the demands of day-to-day operations.

For now, executives can develop conducive learning climates that foster collaboration and knowledge management in which knowledge is shared and exploited. Unshared knowledge is like lettuce in the refrigerator—if eaten and shared, everyone enjoys it, if not, it could go bad and not have any use. Executives found that shared knowledge enables companies to improve knowledge management, and that talent management is highly dependent on stimulating continuous learning within organizations. Thus, executives play a crucial role in elevating talent management by enhancing knowledge management to empower employees to pursue organizational goals.

The following figure provides a snapshot of how executives steering corporate culture enhance knowledge management and talent management.

In conclusion, insufficient consideration of the impact of knowledge management on the organization’s talent management has been also exposed. Thus, I suggest that scholars take our ideas and continue to conduct research using executives as the focal point so that academic scholarship can meet the needs of managerial implications at the higher echelons of organizations worldwide.

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Mostafa Sayyadi works with senior business leaders to effectively develop innovation in companies and helps companies—from start-ups to the Fortune 100—succeed by improving the effectiveness of their leaders. He is a business book author and a long-time contributor to business publications and his work has been featured in top-flight business publications.

programs

LOGISTICS AND TRANSPORTATION PROGRAMS AWAIT AT HOME AND ABROAD

There are tons of transportation and logistics programs out there. But the question is: Which program will get you from Point A (where you are now) to Point B (where you want to be)? We imagine that where you want to be includes being fully integrated into a global supply system with cutting-edge ideas, and training that helps to bring solutions to the problems of 2020 and beyond.

Here’s our round-up of five transportation and logistics education programs, worldwide. There are plenty more, but these are ones we think are a good place to start.

UNITED STATES

MIT: Masters in Supply Chain Management

The Massachusetts Institute of Technology program takes students from the lab to the real world of transportation and logistics. Students take what they’ve learned from researchers and experts in transportation and logistics, bringing their new knowledge to the global market. The curriculum includes analytical problem solving, communication, and leadership. Courses include: Logistics Systems, Database Analysis/Information Systems/System Technologies, Finance, Economics, Accounting, Leading Global Teams, Technical Communication/Writing, and Analytical Methods. Students in the master’s program undertake a research project (called a capstone or thesis), where they work with industry experts to solve real-world supply chain problems.

This program has two options: a Residential program and a Blended program. The Residential program is a 10-month on-campus program. The Blended program is a five-month program that blends both on-campus and online classes. Accepted applicants have a choice between studying for a Master of Applied Science in Supply Chain Management (MASc-SCM) or a Master of Engineering in Supply Chain Management (MEng-SCM).

Purdue Univerity Karanner School of Management: Master of Science in Global Supply Chain Management

The Master of Science in Global Supply Chain Management (MSGSCM) helps develop skills in supply chain management, business analytics, and operations. It ranks No. 12 for Top North American Graduate Supply Chain Programs in Gartner’s. Best-Masters.com ranked it No. 2 in the world for Masters Programs for Transportation and Logistics in 2018. This program prepares students for leadership roles through formal and informal education opportunities with industry leaders. A traditional, 18-month program, for those with little work experience, and a 10-month accelerated program for people with 6+ years of industry experience are offered. Courses include: Intro to Operations Management, Supply Chain Analytics, Summer Semester Experiential Learning and Logistics Strategic Sourcing.

PERU

Pontificia Universidad Catolica del Peru CENTRUM Business School: International Corporate Master in Operations

The International Corporate Master’s Degree in Supply Chain Management helps people to have a strategic impact on supply chains. The focus is on service and applying tech and global management standards. This program is open to operations and logistics professionals with 3+ years of experience and is open to looking at things from a global point of view. Courses offered include: Supply Chain Management, Statistics, Tools or Managerial Decision Making, Qualitative Research of Food Marketing, Management of Procurement, Warehouse Management, Management of Data in Organizations, and Research Methodology. Admissions are year-round. Applications, which are processed within two weeks of receipt, include an interview that is set up immediately.

ITALY

MIP Politécnico di Milano Graduate School of Business: International Master in Supply Chain and Procurement Management

The Master In Supply Chain Management helps transportation and logistics professionals build a global supply chain career with a competitive advantage. The program, which provides strategies to increase revenues and lower costs, also champions innovation and novel ideas. Though it takes place in Italy, it is taught in English and is a full-time program over the course of 12 months. Tuition is $17,651 U.S. (or 16,500 Euros). The program is created for graduates with fewer than three years of work experience.

Topics of focus are innovation, technology, and sustainability, with additional training in soft skills. It’s accredited by CIPS, the largest professional organization serving supply chain management. It is also listed at No. 4 for the Top 2019 Best Masters in the Eduniversal Ranking. The average class size is 25 students. Applications are accepted on a year-long rolling basis. The degree awarded after graduation is the First Level University Specializing Master, recognized by Italy’s government. Students should check with their respective countries to confirm that the degree is transferrable. Some of the skills desired in applicants are an affinity for leadership, an openness to learn about a range of areas in procurement/supply chain, and business and analytical skills.

FRANCE

Kedge Business School: MSc in Global Supply Chain Management

On average, graduates of the Kedge School of Management have a salary of 42,800 euros ($45,927.40 U.S.). All who graduate work in an international capacity, 95 percent are offered a job before graduation and 80 percent join a large company. This MSc degree prepares students for the new era of supply chain management, boasts Kedge, which specializes in teaching within a multicultural framework, with students from more than 20 countries. To this end, students have the opportunity to learn from a diversity of experiences and ideas and build skills to overcome cultural differences.

The MSc in Global Supply Chain Management also offers different supply chain workshops, such as seminars for consultancy assignments, where students apply lessons learned to specific conditions. Students also work with business leaders from such companies as LVMH, Amazon, and Renault and also participate in a six-month internship to solidify supply chain education in real-world settings. This program aims to teach students to embrace change and integrate new ideas and approaches. The MSc program is for three semesters and costs 19,500 euros ($20,862 U.S.). Applications are accepted on a rolling basis from October to July. Scholarships are awarded to 45 percent of the international students.

These programs in the U.S., Peru, Italy, and France only scratch the surface of all that’s out there for those looking for a way to move to the next level in their logistics, transportation and supply chain careers. All of these programs will give you the tools that you need to move forward in an ever-changing, fast-paced world. And with additional education under your belt, you’ll be able to take your transportation and logistics career to new heights.

breakbulk europe

Breakbulk Europe 2020 Cancelled

Breakbulk Europe 2020, the world’s largest event for the project cargo and breakbulk industry, has been cancelled and will return to Messe Bremen, 18-20 May 2021.

We have been monitoring the situation in Bremen very carefully over the past months and have consulted with the venue, local authorities and industry bodies regarding options for the event this year. When the decision to postpone Breakbulk Europe was made in March, there was optimism that a September dateline would work.

The Government regulations currently in place impose a ban on all events and exhibitions with 1,000 or more participants until 31 October 2020, which means that sadly, it is impossible to deliver the event for our attendees and customers of Breakbulk Europe this year.

Work is already well underway for Breakbulk Europe 2021 to provide the leading global platform for our community to connect, learn, network, and – most importantly – do business. In the meantime, Breakbulk will continue to deliver its recently launched Breakbulk365 program that includes webinars and the BreakbulkONE Show to ensure the project cargo industry stays connected and updated on critical information during this period of constant change.

To receive the weekly BreakbulkONE
newsletter, sign up at http://breakbulk.com/page/one.

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Breakbulk Europe has become the global hub for the industrial project supply chain, including the world’s foremost manufacturers, oil & gas companies, EPCs, carriers, ports, logistics firms, specialized transporters and related service providers. The event draws around 10,000 professionals from more than 120 countries. To request 2021 exhibition and sponsorship information and to learn more about Breakbulk Europe, visit europe.breakbulk.com. Breakbulk Europe is one of three Breakbulk global events, along with Breakbulk Americas in Houston, 3- 5 November 2020 and Breakbulk Middle East in Dubai, 09-10 Feb. 2021.

Hyve Group plc is a next-generation FTSE 250 global events business whose purpose is to create unmissable events, where customers from all corners of the globe share extraordinary moments and shape industry innovation. Hyve Group plc was announced as the new brand name of ITE Group plc in  September 2019, following its significant transformation under the Transformation and Growth (TAG) programme. Our vision is to create the world’s leading portfolio of content-driven, must-attend events delivering an outstanding experience and ROI for our customers.

corporate

How Global Leaders Formulate and Execute Corporate Strategies to Meet External Challenges

Any organizations have plans going well into the future. Strategic goals spanning five to fifteen years while short-term goals are more tactical and are just as important. Two prominent scholars that are well known in the Academy of Management – one of the largest leadership and management organizations in the world, by the names of Charles Hofer and Dan Schendel see strategy as a “fundamental pattern of present and planned resource deployments and environmental interactions that indicates how the organization will achieve its objectives.” Another scholar, Kenneth Andrew, describes strategy as a pattern of decisions and plans which are directed at interacting with the external and internal environment and effectively and efficiently allocating capabilities to achieve organizational objectives.

There are different typologies of strategies and one typology of these existing typologies that can create better results for companies when compared to others. Much of what I share comes from my experience as a senior management consultant in San Diego, California.

In my experience working with more than 30 Fortune 100 companies, executives consider the four dimensions of corporate strategy including analysis, pro-activeness, defensiveness, and futurity. Analysis strategy is defined, by Venkatraman, as “the tendency to search for problems and their root causes and generates better alternatives to solve them.” When executives analyze strategy, they can create more knowledge and find the best solution using a problematic search of various options. This type of strategy also stimulates companies to apply information systems in their decision-making processes in order to investigate various alternatives and options. Also, executives analyze strategic milestones to meet the goals of employee development.

An analysis strategy can develop opportunities for employee development by assessing current situations in detail. This strategy provides new and more innovative solutions for organizational problems as they arise. To develop this strategy, executives can particularly contribute to the development of a workplace in which there is/are:

-Emphasis on effective coordination among different functional areas.

-Extensive use of information systems to support decision making.

-Comprehensive analysis undertaken when confronted with an important decision.

-Use of planning techniques.

-Effective deployment of management information and control systems.

-Use of manpower planning and performance appraisal of senior managers.

Pro-activeness is a strategy element used by executives who take a proactive approach to search for better positions in the business environment. As executives use the pro-activeness strategy which refers to finding new opportunities and proactively responding to current challenges in external environments, they can enhance their span of control. To cultivate a pro-activeness strategy, executives can contribute to the development of a workplace in which there is/are:

-The constant search for new opportunities.

-Attempt to introduce new brands or products in the market.

-The constant search for businesses that can be acquired.

-More effective expansion of capacities when compared to our competitors.

-Strategic elimination of those operations that are no longer profitable in later stages of life cycles.

Defensiveness recommends undertaking defensive behaviors that manifest themselves in enhancing efficiency and in cutting costs while maintaining continuous budget-analysis and break-even points. Executives can take an offensive approach and in this case, they employ a defensive strategy. A defensive strategy utilizes modifications in order to efficiently and effectively use organizational resources, decrease costs, and control operational risk. Some executives feel that a defensive strategy, while necessary, sets a negative connotation on their span of control. A defensiveness strategic approach, in fact, enhances organizational learning through reusing commercial knowledge. To foster this strategy, executives can particularly contribute to the development of a workplace in which there is/are:

-Regular modifications to manufacturing/service technology.

-Use cost control systems for monitoring performance.

-Use of current management techniques to ensure that we move smoothly at the required level.

-Emphasis on product/service quality through the use of work improvement teams.

Futurity is reflected in the degree to which the strategic decision-making process takes a two-way approach—-an emphasis on both long-term effectiveness and shorter-term efficiency concurrently.  Executives use a futurity strategy to expand the growth opportunities available to companies to close the gap between success and failure. Futurity strategy implements basic studies to identify and actively respond to the changes that occurred in the external environment and provides better outcomes. To create a futurity strategy, executives can contribute to the development of a workplace in which there is/are:

-Specific criteria used for resource allocation which generally reflect short-term considerations.

-Emphasis on basic research to provide us with a competitive edge for the future.

-Key indicators of operations forecasted.

-Formal tracking of significant and general trends.

-Regular analyses of critical issues.

This article summarizes my experience as a senior management consultant and is about getting the information needed to be successful in the right hands of executives worldwide. The key for executives is that by channeling organizational processes into corporate strategy, and employing a supportive strategy that executives can continue to prosper.

Success is, therefore, dependent upon how executives formulate and execute corporate strategy. Executives can now see how they can cultivate an effective corporate strategy, which can enable superior performance to achieve business objectives and satisfy careers.

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Mostafa Sayyadi works with senior business leaders to effectively develop innovation in companies and helps companies—from start-ups to the Fortune 100—succeed by improving the effectiveness of their leaders. He is a business book author and a long-time contributor to business publications and his work has been featured in top-flight business publications.

global

Two Ways to Make It Easy to Engage a Global Workforce

I attempt to blend scholarly concepts with real-world applications. I place a great deal of emphasis on the literature of information technology and corporate strategy as two significant indicators for financial success. This article adds to a relatively small body of literature but pays homage to the scholarly contributions. I highlight the direct impact of these organizational internal resources factors on financial performance.

Executives will also see that I expand upon the subject matter of a firm’s internal resources. Insufficient consideration of the impacts of these internal resources on financial performance has been exposed and I attempt to address this concern. This article can portray a more detailed picture of the effects of information technology and corporate strategy on financial performance that have been not placed in a model in the past.

Information Technology

Information technology encourages employees to embark on technological facilities, such as shared electronic workspaces, to provide new ideas and possible solutions for solving organizational problems. Information technology plays a critical role in creating a competitive advantage and is therefore aligned with the resource-based theory.  Information technology is necessary to build high-performing companies and also may be necessary as global market demands are increasingly difficult to adapt and sustain profitability.

Financial performance in global markets is dependent on continuous learning. Corporate learning plays a critical role and is a strategic prerequisite for increasing sales and market share in today’s knowledge-based economy. Effective corporate learning can enable companies to actively respond to environmental changes and customer needs and organizational members’ growth needs. Thus, information technology is a key factor that should be embraced at the senior level of organizations to enable financial performance in globalized markets by building a learning climate and empowering organizational members. In the absence of effective information technology management, companies cannot implement successful plans in order to adapt to today’s global business environment.

Information technology is a key factor to improve financial performance for companies. Earlier studies clearly indicate that effective IT implementation significantly contributes to a company’s’ financial performance. These researches acknowledge that information technology is an important enabler to effectively manage business processes. Information technology can reduce paper-based transactions for companies that can potentially decrease costs and subsequently improve profitability for companies.

Furthermore, it can be seen that information technology enables companies to effectively identify opportunities in an external business environment that leads to identifying the best opportunities for investment that potentially improves financial performance in terms of return on investment. Information technology can also help companies to effectively create more innovative solutions for their organizational problems. More innovative solutions and better ideas can improve the quality of products and services, which in turn increases sales and market share for companies.

Business success for companies in today’s global business environment can be, therefore, achieved when information technology is effectively applied and widely used to achieve a higher degree of financial performance. When information technology can create a learning workplace and inspiring vision for future expansion into global markets, companies will secure a foothold in the ever-expansive global marketplace. Thus, I recommend that executives should consider information technology as a key driver for improving financial performance in today’s hypercompetitive environment.

 Corporate Strategy

Executives view organizational strategy is a sum of objectives, plans, and procedures designed to efficiently and effectively upgrade organizational capabilities and interact with their environment more effectively. In particular, strategy defines a pattern to deploy organizational capabilities and interact with both the internal and the external environment. Executives, therefore, manage their knowledge assets to create new ideas and knowledge aimed at achieving commercial objectives. First and foremost, just as one organization is holding knowledge back from competitors they are following suit. Knowledge could be the most important component of success in this ever-changing technological environment of today. Thus, the organizational strategy is an organizational internal resource affecting knowledge and in most cases, knowledge is the most strategic factor of competitive advantage.

Executives are aware that corporate strategy mainly encompasses four aspects: analysis, pro-activeness, defensiveness, and futurity. Analysis strategy is regarded as the tendency to search for problems and their root causes and generates better alternatives to solve them. Analysis strategy, an academic term that is very applicable to the executive span of control is also concurrently aired in the academic circles of higher education. For instance, the analysis strategy is highly related to firms’ capacity to generate new ideas and knowledge and plays a crucial role in acquiring knowledge. Therefore, I appeal to executives across the globe that analysis strategy could improve the quality of products and services, which can in turn enhance profitability and market share.

I also feel that as executives use the pro-activeness strategy which refers to finding new opportunities and proactively responding to current challenges in external environments, they are also enhancing their span of control. Therefore, the pro-activeness strategy can provide a higher degree of knowledge through developing interactions with external environments. As executives effectively use knowledge management for projects and organizational investments they require a continuous investigation from external business environments. The pro-activeness strategy enables companies to identify changes in external environments and accordingly help them to actively respond to these emerging rapid changes.

Some executives feel that a defensive strategy, while necessary, sets a negative connotation on their span of control. However, it is believed that a defensiveness strategic approach enhances efficiency through cutting costs which in turn increases organizational revenue and company’s financial performance.

Futurity strategy can also enhance financial performance by providing a series of clear guidelines for companies to track future trends in the business environment, and accordingly, conduct “what-if” analysis and allocate organizational resources. My explanation of this is clearly within the executive span of control and potentially limits operational risk. My conclusion for executives is that organizational strategy has a positive association with financial performance. Therefore, I suggest that a firm’s ability to enhance financial performance can be highly affected when executives develop and implement an effective corporate strategy.

In Conclusion

This article may be the answer executives need but may also lack the fundamental fortitude necessary to be an all-encompassing model to predict financial performance. Executives can contribute to meet dynamic market needs, through reshaping a firm’s internal resources (i.e. information technology and corporate) to meet the needs of customers in the marketplace. This article has been focusing on thus far is the needs of companies for enhancing financial success. This article also presents executives with organizational internal resources that can be effectively manipulated to improve financial performance and become more profitable.

_________________________________________________________________

Mostafa Sayyadi works with senior business leaders to effectively develop innovation in companies and helps companies—from start-ups to the Fortune 100—succeed by improving the effectiveness of their leaders. He is a business book author and a long-time contributor to business publications and his work has been featured in top-flight business publications.

companies

How to Build High-Performing Companies

There are some executives that like to look at academic journals but unfortunately the crossover literature has not reached them enough. I attempt to blend scholarly concepts with real-world applications. For the executive’s corner, I place a great deal of emphasis on the literature of knowledge management, information technology, strategy, and culture as four significant indicators for financial performance.

This article adds to a relatively small body of literature but pays homage to the scholarly contributions. I highlight the direct impact of these organizational factors on financial performance. This article actually investigates the crossover potential of scholarly research and how it can be applied in the organizational boardroom. Executives will also see that I expand upon the subject matter of a company’s internal resources. Insufficient consideration of the impacts of these resources on financial performance has been exposed and I attempt to address this concern. This article can portray a more detailed picture of the effects of knowledge management, information technology, strategy, and culture on financial performance that have been mentioned but not placed in a model in the past.

 Why Knowledge Management Is So Important To Financial Performance?

Executives across the globe have found that knowledge is critical to financial performance. Knowledge, in of itself, is not enough to satisfy the vast array of changes in today’s business environment. Knowledge management is only a necessary precursor to effectively managing knowledge within the organization. Organizational knowledge cannot merely be described as the sum of individual knowledge, but as a systematic combination of knowledge based on social interactions shared among organizational members. Executives agree with Haridimos Tsoukas who determines organizational knowledge as a collective mind, and Kiku Jones and Lori Leonard at The University of Tulsa who explain organizational knowledge as the knowledge that exists in the organization as a whole. [1] [2] Organizational knowledge is owned and disseminated by the organization.

The key take-away for executives is that organizational knowledge is a resource that enables companies to solve problems and create value through improved performance and it is this point that will narrow the gaps of success and failure leading to more successful decision-making. The key is for executives to convert individual knowledge into valuable resources to ensure that the knowledge is actually helping the organization grow profitably for all stakeholders.

Knowledge management can help companies identify their inefficiencies in organizational processes which can enable them to prevent further operational risk. The question remains. How does knowledge management impact your company’s financial performance? By answering this question, executives are able to answer the questions necessary to apply knowledge management to exploit financial performance for companies.

Knowledge is firstly created and acquired from external environments. This knowledge exchange with external business partners develops innovative environments that can enable companies to create a more innovative climate. This knowledge exchange also enhances the capabilities of companies in recognizing possible opportunities in the business environment and developing a more effective vision, including a more comprehensive array of information and insights about external environments.

Furthermore, executives need to focus on coordinating experts, sharing knowledge, and scanning the changes of knowledge requirements to keep the quality of their products or services in-line with market demand. It is apparent that this can help companies assessing the required changes to keep the quality of both products and services at maximum levels. Also, a systematic process of coordinating company-wide experts enables companies to effectively meet customer needs.

The knowledge within organizations also needs to be reconfigured to meet environmental changes and new challenges today. Knowledge is globally shared with other organizations. However, companies might lack the required capabilities or decide to decline from interacting acting with other companies, or even suffer the distrust to share their knowledge. In addition, expert groups may not have sufficient diversity in order to comprehend knowledge acquired from external sources. Networking with business partners is a key activity for companies to increase financial performance, thereby transferring knowledge among companies which creates better solutions for capturing the interest of customers and developing market share. The key here is that there are positive effects of knowledge management on financial performance.

Does Information Technology drive Financial Performance?

Information technology is necessary to build high-performing companies and also may be necessary as the globalized market demands are increasingly difficult to adapt and sustain profitability. Financial performance in global markets is dependent on continuous learning. Corporate learning plays a critical role and is a strategic prerequisite for increasing sales and market share in today’s knowledge-based economy. Effective corporate learning can enable companies to actively respond to environmental changes and customer needs and organizational members’ growth needs. Thus, information technology is a key factor that should be embraced at the senior level of organizations to enable financial performance in globalized markets by building a learning climate and empowering organizational members. In the absence of effective IT management, companies cannot implement successful plans in order to adapt to today’s global business environment.

Information technology is a key factor to improve financial performance for companies. Earlier studies clearly indicate that effective IT implementation significantly contributes to companies’ financial performance. These researches acknowledge that information technology is an important enabler to effectively manage business processes. Information technology can reduce paper-based transactions for companies that can potentially decrease costs and subsequently improve profitability for companies.

Furthermore, it can be seen that information technology enables companies to effectively identify opportunities in external business environment that leads to identify the best opportunities for investment that potentially improves financial performance in terms of return on investment. Information technology can also help companies to effectively create more innovative solutions for their organizational problems. More innovative solutions and better ideas can improve the quality of products and services, which in turn increases sales and market share for companies.

Business success for companies in today’s global business environment can be, therefore, achieved when information technology is effectively applied and widely used to achieve a higher degree of financial performance. When information technology can create a learning workplace and inspiring vision for future expansion into global markets, companies will secure a foothold in the ever-expansive global marketplace. Two important dimensions that all managers world-wide can learn from this article is that information technology can help companies to accomplish their goals that they would not ordinarily consider part of their competencies.

The question posited for top management executives and leaders in any and all companies is to accept the challenge of information technology implementation in order to address the current gaps in business effectiveness and improve their competitiveness in global markets. Thus, I recommend that executives should consider information technology as a key driver for improving financial performance in today’s hypercompetitive environment.

If Corporate Strategy Comes First, Company’s Financial Performance Will Follow

Executives are aware that corporate strategy mainly encompasses four aspects: analysis, pro-activeness, defensiveness, and futurity. So how can you as an executive use these four dimensions? Scholars provide a blueprint to follow:

-Analysis refers to the degree to which the roots of problems are analysed to provide the best solutions, which ultimately results in a more efficient allocation of resources to solve problems and also achieve organizational goals.

-Pro-activeness is defined as the extent to which a firm continuously searches for emerging opportunities in its business environment, and then actively participates in these opportunities by responding to changing trends.

-Defensiveness, which recommends undertaking defensive behaviors that manifest themselves in enhancing efficiency and in cutting costs while maintaining continuous budget-analysis and break-even points.

-Futurity is reflected in the degree to which the strategic decision-making process takes a two-way approach—-an emphasis on both long-term effectiveness and shorter-term efficiency concurrently.

Analysis strategy is regarded as the tendency to search for problems and their root causes and generates better alternatives to solve them. Analysis strategy, an academic term that is very applicable to executive span of control is also concurrently aired in the academic circles of higher education. For instance, analysis strategy is highly related to firms’ capacity to generate new ideas and knowledge and plays a crucial role in acquiring knowledge. Therefore, I appeal to executives across the globe that analysis strategy could improve the quality of products and services, which can in turn enhance profitability and market share.

I also feel that as executives use the pro-activeness strategy which refers to finding new opportunities and proactively responding to current challenges in external environments, they are also enhancing their span of control. Therefore, the pro-activeness strategy can provide a higher degree of knowledge through developing interactions with external environments. As executives effectively use knowledge management for projects and organizational investments they require a continuous investigation from external business environments. The pro-activeness strategy enables companies to identify changes in external environments and accordingly help them to actively respond to these emerging rapid changes.

Some executives feel that a defensive strategy, while necessary, sets a negative connotation on their span of control. However, it is believed that a defensiveness strategic approach enhances efficiency through cutting costs which in turn increases organizational revenue and the company’s financial performance.

Futurity strategy can also enhance financial performance by providing a series of clear guidelines for companies to track future trends in the business environment, and accordingly conduct “what-if” analysis and allocate organizational resources. My explanation of this is clearly within the executive span of control and potentially limits operational risk. My conclusion for executives is that organizational strategy has a positive association with financial performance. Therefore, I suggest that a firm’s ability to enhance financial performance can be highly affected when executives develop and implement an effective corporate strategy as the primary form of managing people, resources, and profitability.

Does Corporate Culture Increase Financial Performance?

Corporate culture is the resource that builds upon the foundations that helps organizations prosper. Andrew Pettigrew initially introduced the term corporate culture into the business literature. [3] Edgar Schein, one of the prominent management scholars, describes corporate culture as a pattern of shared basic assumptions that the group learned as it solved its problems of external adaptation and internal integration that has worked well enough to be considered valid and, therefore, to be taught to new members as the correct way to perceive, think, and feel in relation to those problems. [4] Corporate culture is, therefore, reflected in shared assumptions, symbols, beliefs, values and norms that specify how employees understand problems and appropriately react to them.

To analyze the relationship between corporate culture and financial performance, corporate culture could be visualized by its three major aspects, including collaboration, trust and learning. Both cultural aspects of collaboration and trust positively contribute to companies to effectively and actively respond to environmental changes and customer needs and employee growth needs through developing effective learning workplaces within these companies. Thus, these two cultural aspects can help companies to improve the quality of products and services and increase financial performance in terms of profitability and sales.

Learning culture is another cultural aspect sheds light on organizational capabilities to develop learning. It is quite understandable that this cultural aspect can particularly increase financial performance for companies, by developing suitable workplaces for employees to effectively share their knowledge with others. People, in fact, recognize how old resources can address new and problematic situations by sharing their knowledge within companies, and this can help to create more innovative ideas for organizational problems. David Maister in Harvard Business School in his book, Managing the Professional Service Firm, says that innovative ideas generation can improve profitability for companies. [5] Thus, I suggest that executives should consider corporate culture as an important enabler to enhance financial performance.

In Conclusion

This article may be the answer executives need but may also lack the fundamental fortitude necessary to be an all-encompassing model to predict financial performance. This article has started a mindset that encourages executives to investigate scholarly work to increase financial performance, enhance profitability and improve shareholder value. Executives can contribute to meet dynamic market needs, through reshaping an organization’s internal resources (i.e. knowledge management, information technology, strategy and culture) to meet the needs of customers in the marketplace. In fact, this article has been focusing on thus far is the needs of companies for enhancing financial success. This article presents executives with organizational factors that can be effectively manipulated to improve financial performance and become more profitable.

______________________________________________________________

Mostafa Sayyadi works with senior business leaders to effectively develop innovation in companies and helps companies—from start-ups to the Fortune 100—succeed by improving the effectiveness of their leaders. He is a business book author and a long-time contributor to business publications and his work has been featured in top-flight business publications.

References

[1] Jones, K., & Leonard, L.K. (2009). From Tacit Knowledge to Organizational Knowledge for Successful KM. In W.R. King (Eds.), Knowledge Management and Organizational Learning, (pp. 27-39), Berlin: Springer.

[2] Tsoukas, H. (1996). The Firm as a Distributed Knowledge System: A Constructionist Approach. Strategic Management Journal, 17, 11-25.

[3] Pettigrew, A.M. (1979). On studying organizational cultures, Administrative Science Quarterly, 24(4), 570–581.

[4] Schein, E. (1984). Coming to a new awareness of organizational culture, Sloan Management Review, 25(2), 37–50.

[5] Maister, D.H. (1993). Managing the professional service firm, Free Press, New York.

success

The Road to Leadership Success is Paved With Knowledge

Different Kinds of Organizational Knowledge and Where they are Found

Executives must have an understanding of the concept of knowledge itself. Knowledge is identified as a multi-faceted concept and is distinct from information and data. Knowledge is quite elusive and is changing on a day-to-day basis with discontinued products and the ever-changing vast array of technology. Therefore, to counter the above definition of knowledge, Ruggles defines knowledge as a blend of information, experiences, and codes. The key take-away for executives is that knowledge is a resource that enables organizations to solve problems and create value through improved performance and it is this point that will narrow the gaps of success and failure leading to more successful decision-making.

Executives still wonder where is knowledge and how can it be utilized when it comes to decision-making. Scholars found that within organizations, knowledge resides in various areas such as management, employees, culture, structure, systems, processes, and relationships.

Organizational knowledge cannot merely be described as the sum of individual knowledge, but as a systematic combination of knowledge based on social interactions shared among organizational members. Executives, being more conceptual, agree with Tsoukas who determines organizational knowledge as a collective mind, and Jones and Leonard who explain organizational knowledge as the knowledge that exists in the organization as a whole. Most importantly, organizational knowledge is owned and disseminated by the organization. To analyze knowledge in organizations, there are two important taxonomies of organizational knowledge that need to be discussed.

Tacit and Explicit Knowledge

Why would executives care whether knowledge is tacit or explicit? The simple answer is that tacit knowledge is not shared and sometimes bottled up in individuals causing a bottleneck in the organization. If knowledge can be categorized as tacit and explicit knowledge then how can executives manage knowledge to enhance productivity?

Since tacit knowledge is the knowledge that exists in the minds of organizational members which is gained by their individual experiences, and it is difficult to formalize and transfer unless directed to do so, executives need to pinpoint and encourage this type of knowledge to be drawn out of followers. More controllable, explicit knowledge is the knowledge that is highly formalized and codified, and can be easily recorded and communicated through formal and systematic language, and manifested in rules and procedures providing the necessary tools and processes for executives to manage. It can also be captured in expert systems and tapped by many people throughout the organization via the intranet. Executives know that explicit knowledge is more formal and has the potential to be more easily shared. When it is expressed in words and specifications, it is much more useful compared to tacit knowledge.

Private and Public Knowledge

Since executives are constantly dealing with the public—-especially if they are a publicly-traded company, the private and public knowledge is something they pay a great deal of attention to. Of course, this is not new but worth mentioning. For example, a scholar by the name of Matusik, argues that knowledge in organizations can be categorized as either private or public knowledge and can be advantageous to executive decision-making. Firm-specific knowledge must be guarded and not shared with the competition. Any leak of such information may expose the organization and increase the operational risk. Contrary to private knowledge, public knowledge differs in that it is not unique for any organization. Public knowledge may be an asset and provide potential benefits when posted on social media and other means of communication.

It is important for executives to consider the ownership of knowledge as a factor which is a significant contributor to the knowledge of organizations. Moreover, knowledge emerges in two additional forms, including the knowledge that is only accessible by one company and the knowledge that is accessible to all companies. The best approach to knowledge is for executives to know which knowledge is to remain private and which to go public with. A mistake in this area may be vital to the organizations and executives must choose wisely.

Today the question arises whether the management of an organization’s intellectual capital itself can be a source of effectiveness for leaders. In the next section, I pose that ineffective knowledge management may expose organizations to missed opportunities and lack of using leadership opportunities to their benefit given the existing opportunities in international and domestic markets, and how this lack of judgment may concern stakeholders. I also assume that the lack of effective strategic knowledge management may lead to human assets to be ineffective. My final assumption addressed in this article is that the crucial role of knowledge management practices, such as coordinating and hosting the continuous sessions of company-wide experts to share their knowledge, maybe underestimated and underutilized.

How Does KM Practices Impact Leadership Effectiveness?

Knowledge is firstly accumulated by creating new knowledge from organizational intellectual capital and acquiring knowledge from external environments. This knowledge exchange with external business partners develops innovative environments that can enable leaders to create a more innovative climate in companies. This knowledge process enhances the capabilities of leaders to play the role of inspirational motivation, which enables these leaders to directly set highly desired expectations to recognize possible opportunities in the business environment. The knowledge exchange also positively contributes to leaders to develop a more effective vision, including a more comprehensive array of information and insights about external environments.

Executives then integrate knowledge internally to enhance the effectiveness and efficiencies in various systems and processes, as well as to be more responsive to market changes. Knowledge integration focuses on monitoring and evaluating knowledge management practices, coordinating experts, sharing knowledge and scanning the changes of knowledge requirements to keep the quality of their production or services in-line with market demand. It is apparent that knowledge integration activities can help leaders assessing the required changes to keep the quality of both products and services at maximum levels. Furthermore, a systematic process of coordinating company-wide experts enables leaders to propel the role of intellectual stimulation, which creates a more innovative environment within companies.

Executives must also curtail knowledge within organizations. The knowledge within organizations needs to be reconfigured to meet environmental changes and new challenges today. What worked yesterday or a few years ago is changing rapidly as technology has increased in a prolific way. Knowledge is globally shared with other organizations through domestic and global rewards such as the Malcolm Baldridge Award in the United States and the Deming Award in Japan. However, past industry researches have posited that companies might lack the required capabilities or decide to decline from interact acting with other companies, or even suffer the distrust to share their knowledge. Therefore, expert groups may not have sufficient diversity in order to comprehend knowledge acquired from external sources.

Based upon these limitations whether natural or caused, networking with business partners is a key activity for companies to enhance knowledge exchange and it should not take an award to be the impetus to initiate interaction. Ergo, networking with external business partners may enhance the effectiveness of leadership, thereby empowering leaders to better develop strategic insights to develop a more effective vision incorporating various concerns and values of external business partners. The knowledge transference among companies itself improves the effectiveness of learning, which in turn enables leaders to empower human resources by creating new knowledge and solutions. Thus, I suggest that networking takes place among companies in both domestic and international markets which may enhance the effective use of leadership. Therefore, if leaders in senior positions effectively use knowledge management then they may be able to improve leadership effectiveness through increased learning opportunities.

In Conclusion

This article suggests that knowledge management constitutes the foundation of a supportive workplace to disseminate knowledge and subsequently enhance the effectiveness of leadership. Accordingly, I suggest that by channeling knowledge management practices into organizational constructs, engaging in the practices of leadership, executives will continue to prosper. I also suggest that a firm’s ability to develop leadership can be highly affected when executives implement knowledge management projects as the primary form of managing people, resources, and profitability.

_____________________________________________________________________

Mostafa Sayyadi works with senior business leaders to effectively develop innovation in companies and helps companies—from start-ups to the Fortune 100—succeed by improving the effectiveness of their leaders. He is a business book author and a long-time contributor to business publications and his work has been featured in top-flight business publications. 

References

Jones, K., & Leonard, L.K. (2009). From Tacit Knowledge to Organizational Knowledge for Successful KM. In W.R. King (Eds.), Knowledge Management and Organizational Learning, (pp. 27-39), Berlin: Springer.

Matusik, S.F. (1998). The Utilization of Contingent Work, Knowledge Creation, and Competitive Advantage. The Academy of Management Review, 23(4), 680-697.

Ruggles, RL 1997, Knowledge management tools, Boston, MA: Butterworth-Heinemann.

Tsoukas, H. (1996). The Firm as a Distributed Knowledge System: A Constructionist Approach. Strategic Management Journal, 17, 11-25.

Big D

DALLAS, TEXAS, LIVES UP TO ITS OVERSIZED REPUTATION

Dallas, Texas. There is a lot associated with this city in the Lone Star State. Among common associations typically thought of when the city is brought up in conversation include buildings with breathtaking views creating an unforgettable skyline, skyscraper-like freeways, and southern pride some consider to be arrogant beyond reason.

There is a reason behind these common associations, though. Dallas, Texas offers an experience unlike most southern cities–and not just because of the plethora of mouthwatering food options presented every half-mile or the fact that it is home to the Dallas Cowboys football team. Dallas is a place where diversity thrives, and the nightlife never disappoints.

Whether you are looking for a refreshing cocktail with even more refreshing views or a meal that is simply unforgettable as far as food and company are concerned, you can consider yourself lucky to be in this city for business. We’ve rounded up the top spots and things to do while you take care of business. Keep in mind that these are just a few of the gems found in Dallas, and we highly encourage a trip back to the Big D for pleasure instead of business to get the full experience. For now, these will do justice.

Atwater Alley

If you’re interested in experience, look no further than Atwater Alley. Located in the heart of Dallas off of McKinney Avenue, this speakeasy-style spot is sure to provide an experience you’ll share back home. The ambiance and atmosphere found in Atwater Alley set the mood for relaxation and nostalgia while the cocktails are carefully crafted with pride. Know going in that this speakeasy is not intended to accommodate hundreds or even a couple of dozen patrons. Space is limited but the experience–and did we mention the cocktails?–makes Atwater a must on our list of things to do while in Dallas. If you are craving a traditional old fashioned paired with a unique, relaxing environment, Atwater is sure to satisfy.

STIRR

Looking for something on the upbeat, modern-chic side? STIRR is sure to meet your needs. From their signature brunch, lunch and dinner menus to their impressive and unique cocktail selection, STIRR leaves the taste buds of its patrons wanting more of the deliciousness it has to offer. Located in Deep Ellum, STIRR Dallas offers visitors a grand view on its rooftop with the perfect ambiance to pair with the meal. If you’re up for a couple of flights of stairs, keep your eyes carefully on every stair as each reveals an uplifting or quirky message that adds to the STIRR experience.

Dallas Museum of Art

Ah, the DMA. This museum offers a different kind of experience for out-of-towners and locals alike with free daily general admission as late as 9 p.m. on Thursdays and 11 p.m. on “Late Night Fridays.” The DMA features more than 25,000 fascinating pieces—from Islamic art, arts of the Americas and contemporary art to arts of Africa and Asia, classical art, Texas art and much more. When considering a visit to the DMA, be sure to check out the latest exhibition. Each provides a new, intimate and thought-provoking experience to the visitor and are limited-time opportunities.

Reunion Tower

A classic staple for the Dallas visitor, the Reunion Tower really speaks for itself once you take a glance at all 561 feet of its beauty and radiance. Great for dinner and drinks, this experience might not be your first choice for a solo visit but will definitely “wow” your clients if you’re looking to accommodate an unforgettable dining experience at Wolf Gang Puck’s Five Sixty Restaurant. If you do find yourself seeking a solo light dinner and drink, Cloud Nine can accommodate your needs while providing a revolving view and relaxing ambiance. And we can’t forget to mention the Ge-O Deck offering 360-degree panoramic views of the big D.

The Mansion Bar

Located in the prestigious Turtle Creek region in Dallas, the sophisticated Mansion Bar takes pride to a whole new level with its cognac-colored leather walls, Texas countryside art pieces and equestrian-themed décor. The Mansion offers visitors both modern and classic vintage cocktails, but it’s recommended to try the Mansion Gin & Tonic for a refreshed and unmatched experience. If you’re seeking more than the average beer, Texas craft breweries keep The Mansion’s beer variety tantalizing while the award-winning wine program featuring hand-selected reds, whites and sparkling wines. Happy hour is Monday through Friday, 4-7 p.m., with live music to pair with your cocktail of choice on selected days. Once you experience the hospitality, elegance and delightfulness here, you’ll want to come back.

Pappas Bros. Steakhouse

Known across Texas for its take on other cuisines including barbecue, seafood and Mexican food, the Pappas Bros. experience flaunts that it really can do it all. The family owned and operated Pappas Bros. Steakhouse is known as the premier steakhouse for Dallas and Houston, offering dry-aged steaks that are never pre-packaged and a selection of more than 3,500 wines. In fact, Pappas dry ages its own meats for a minimum of 28 days and employs two butchers at each restaurant solely for quality and portion control. Recognized by the Food Network as a “Top 5 Steaks in America” location, Pappas is known for a New York strip that packs 32-ounces of mouth-watering greatness. If you have room left once the steak has been polished off, finish the meal with the comforting and delectable warm peach cobbler. Trust us, you won’t be disappointed.

Whether you’re new to the Big D or just visiting for a couple of days, do yourself (and your taste buds) a favor by giving these places a visit. It goes without saying that everything really is “bigger in Texas” and these are just a few of the hundreds of spots Dallas, Texas, residents attribute to their Texas-sized state pride.