Caption

Company growth & sharing
Company growth and sharing of wealth for all involved
Chapter 9 p.1
All of this stuff is very exciting! What about the business? Are there specific approaches or winning attitudes in your company’s business processes as well?
Absolutely! In the final analysis it is only worth doing if it will lead to success!
This section contains a discussion of what we learned about stages of growth in entrepreneurial teams and how we share the created wealth.
The Entrepreneurial company
Increasing your contribution
Understanding profit and Economic Value Add
Converting energy to equity
Agility and the entrepreneurial mindset
Stages of growt

Company growth and sharing of wealth for all involved

Chapter 9 p.1

w&t_question

I Ask

All of this stuff is very exciting! What about the business? Are there specific approaches or winning attitudes in your company’s business processes as well?

w&t_exclamation

I Answer

Absolutely! In the final analysis it is only worth doing if it will lead to success!

w&t_binoculars

I Explain

This section contains a discussion of what we learned about stages of growth in entrepreneurial teams and how we share the created wealth.

w&t_ch9_a_growth_and_sharing_wealth

The Entrepreneurial company

The Process approach
A way of viewing the company and your role in it as a whole
Chapter 10 p.3
I’ve heard people refer to the “Process Approach”, but I don’t understand what it is all about and how I can benefit from it.
The Process Approach is about a way of viewing the company and your career as a whole. Explore the diagram below. Remember that you are looking at a simple and logical framework for all business activities and initiatives. The approach applies to all activities (from selling, ordering, admin, etc.) and can be uniformly applied.
When processes are in place, people know what to do, when and for whom, eliminating the need for process loss and uncertainty.
It also eliminates fragmentation of departments/teams and reduces the possibility of empire-building. People can take charge of their jobs, freeing up their manager’s time to enable him to concentrate on the improvement of business processes.
Central to the process approach are five simple rules that introduce order into chaos:
State the objective of the process – what must be achieved?
State the reason – why must the objective be achieved?
Formulate how the process is to achieve this objective (the process requirements) What must be done in what way to achieve the objective? Focus specifically on what the desired output and required input is.
Design the primary process to handle the requirements – what must be done
by whom, by when, for whom, and with what?
Define the process control mechanism – what mechanism(s) will be used as an indicator(s) of how well the process is working?

A way of viewing the company and your role in it as a whole

Chapter 10 p.3

w&t_question

I Ask

I’ve heard people refer to the “Process Approach”, but I don’t understand what it is all about and how I can benefit from it.

w&t_exclamation

I Answer

The Process Approach is about a way of viewing the company and your career as a whole. Explore the diagram below. Remember that you are looking at a simple and logical framework for all business activities and initiatives. The approach applies to all activities (from selling, ordering, admin, etc.) and can be uniformly applied.

When processes are in place, people know what to do, when and for whom, eliminating the need for process loss and uncertainty.

It also eliminates fragmentation of departments/teams and reduces the possibility of empire-building. People can take charge of their jobs, freeing up their manager’s time to enable him to concentrate on the improvement of business processes.

w&t_ch10_d_the_process_approach

Five simple rules that introduce order to chaos:

  1. State the objective of the process – what must be achieved?
  2. State the reason – why must the objective be achieved?
  3. Formulate how the process is to achieve this objective (the process requirements). What must be done in what way to achieve the objective? Focus specifically on what the desired output and required input is.
  4. Design the primary process to handle the requirements – what must be done, by whom, by when, for whom, and with what?
  5. Define the process control mechanism – what mechanism(s) will be used as an indicator(s) of how well the process is working?
Create wealth by adding value to products and services
Chapter 3
p.1
You regularly refer to “wealth creation”.
What does this mean?
The creation of wealth is a fundemental concept in the economy of a country. And is the reason for the existence of a business.
Wealth can not be distributed before it is created.
There is so many examples of activities in a country that consume wealth. Only business creates wealth.
People start companies, invest in companies and work in them because they are eager to participate in the process of creating wealth in order that they, in turn, can share in that wealth.
The process whereby a company creates wealth is by “adding value” to products and services which it in turn sells to customers.
Only as the company “maximizes its value contribution to the customer” can the company maximize its business and grow its turnover and profits.
Finally, as the team members and employees of the company maximize their contribution (value add) to the company, can they expect to reap the rewards of their efforts and share in the wealth created.
The fundamental key to this understanding which is the subject of this Walk & Talk process, is to optimize and grow the different interests and needs of the three main role players in the business – the individual, the company and the customer.
The redistribution of wealth without the creation of new wealth results in a redistribution of poverty.

Create wealth by adding value to products and services

Chapter 3 p.1

w&t_question

I Ask

You regularly refer to “wealth creation”.

What does this mean?

w&t_exclamation

I Answer

The creation of wealth is a fundemental concept in the economy of a country. And is the reason for the existence of a business.

Wealth can not be distributed before it is created. There are so many examples of activities in a country that consume wealth. Only business creates wealth.

People start companies, invest in companies and work in them because they are eager to participate in the process of creating wealth in order that they, in turn, can share in that wealth.

w&t_binoculars

I Explain

The process whereby a company creates wealth is by “adding value” to products and services which it in turn sells to customers.

Only as the company “maximizes its value contribution to the customer” can the company maximize its business and grow its turnover and profits.

Finally, as the team members and employees of the company maximize their contribution (value add) to the company, can they expect to reap the rewards of their efforts and share in the wealth created.

The fundamental key to this understanding which is the subject of this Walk & Talk process, is to optimize and grow the different interests and needs of the three main role players in the business – the individual, the company and the customer.

w&t_elephant

I Advise

The redistribution of wealth without the creation of new wealth results in a redistribution of poverty.

Separate different processes using the The Order Cycle by Shapiro
Chapter 10
p.4
I sometimes feel that there is no coherent logic to all the activities in our company. Is there a method in the madness?
All the activities in the company must be focused around adding value to customers and should be regularly measured to verify their contribution.
One can separate direct value adding processes from indirect or support processes.
Below are two examples that will clarify the difference between the two types of activities.
Indirect value adding process:
Company Strategy processes
Human Resources function
Career Development process
KRA process
Skills Development Training
Other activities focusing on making us individually and as a team more effective with our contribution.
Direct value adding processes
Direct value adding processes is best described by Shapiro’s Order Cycle and relates to products and services our customers pay us for:
Planning
Demand generation
Cost estimating and pricing
Order receipt entry
Selection and prioritization
Scheduling
Fulfillment
Billing and payment
Returns and claims
Post sales service
Do you understand the steps in the order cycle in your business and your – as well as your teams – contribution to every step? What can you do to optimize every step and does it really add value to your customers?
The elements or steps of the order cycle will typically fall into the urgent and important quadrant of the Time Management Matrix, whereas support services will typically fall in the Important / Not urgent quadrant.

Separate different processes using the The Order Cycle by Shapiro

Chapter 10 p.4

w&t_question

I Ask

I sometimes feel that there is no coherent logic to all the activities in our company. Is there a method in the madness?

w&t_exclamation

I Answer

All the activities in the company must be focused around adding value to customers and should be regularly measured to verify their contribution.

One can separate direct value adding processes from indirect or support processes.

Below are two examples that will clarify the difference between the two types of activities.

Example 1

Indirect value adding process

  • Company Strategy processes
  • Human Resources function
  • Career Development process
  • KRA process
  • Skills Development Training
  • Other activities focusing on making us individually and as a team more effective with our contribution

Example 2

Direct value adding processes

Direct value adding processes is best described by Shapiro’s Order Cycle and relates to products and services our customers pay us for:

w&t_ch10_e_the_order_cycle

  1. Planning
  2. Demand generation
  3. Cost estimating and pricing
  4. Order receipt entry
  5. Selection and prioritization
  6. Scheduling
  7. Fulfillment
  8. Billing and payment
  9. Returns and claims
  10. Post sales service
w&t_binoculars

I Explain

Do you understand the steps in the order cycle in your business and your – as well as your teams – contribution to every step? What can you do to optimize every step and does it really add value to your customers?

w&t_elephant

I Advise

The elements or steps of the order cycle will typically fall into the urgent and important quadrant of the Time Management Matrix, whereas support services will typically fall in the Important / Not urgent quadrant.

Thank you to: HBS Professors Benson Shapiro and Kash Rangan

The different aspects concerned with mentoring in a company
Chapter 8
p.1
Some companies have formal mentoring programs in order to assist new team members.
Is there a mentoring program within your company?
To assist all team members of to reach their maximum potential, is fundamental to the philosophy of the company. An active mentoring program is therefore part of the management process within the organization.
Every person should aspire to become a mentor since that is the best mechanism whereby succession planning occurs. Succession planning in turn is the best way to ensure your own advancement.
The following Mind Map illustrates the processes which show successful mentoring as well as the links to the other skills described in this book.
Mentoring:
Understanding human needs
Responsibilities of a mentor
Mentoring, Coaching and Councelling.
Other skills required for mentoring:
Career planning and performance management
Interpersonal skills
Effective team skills
Underlying principles

The different aspects concerned with mentoring in a company

Chapter 8 p.1

w&t_question

I Ask

Some companies have formal mentoring programs in order to assist new team members.

Is there a mentoring program within your company?

w&t_exclamation

I Answer

To assist all team members to reach their maximum potential, is fundamental to the philosophy of the company. An active mentoring program is therefore part of the management process within the organization.

Every person should aspire to become a mentor since that is the best mechanism whereby succession planning occurs. Succession planning in turn is the best way to ensure your own advancement.

w&t_binoculars

I Explain

The following Mind Map illustrates the processes which show successful mentoring as well as the links to the other skills described in this book.

w&t_ch8_a_mentorship

Mentoring

Other skills required for mentoring

Conflict management
Conflict management for win-win solutions
Chapter 6
p.9
Conflict makes me nervous! How do I thrive on it, especially in the business environment?
The main aim of managing conflict is to ensure that a Win-Win solution is reached through mutual cooperative and assertive behavior, where the value on the table for both parties is maximized and they get more than they contributed in terms of effort, risk and cost.
Forcing (Win-Lose)
The stronger sister takes the orange – grabbing it from the hand of the other, or possibly using some threat.
Assertive but uncooperative.
Avoiding (Lose-Lose)
Both sisters leave the orange rotting on the table. For one to claim it would raise conflict with the other.
Unassertive and uncooperative.
Soothing or Yielding (Lose-Win)
One sister gives in to the other.
Unassertive but cooperative.
Compromise (Win-Lose)
A compromise solution would be for each sister
to take half the orange.
Problem solving (Win-Win)
A problem solving solution would be to discuss why the other wants the orange. (One sister wanted the skin to make a cake, the other wanted the inside to make juice).
Assertive and cooperative.
Often people deal with conflict in ways which do not result in maximum gain for all parties involved and prohibit reaching Win-Win solutions.
Do you recognize any of the following behaviours in the “Tale of the Two Sisters and the Orange”?
How can I enhance my ability to solve problems and manage conflict?
Why don’t you explore the Issue Resolution Model further?
Conflict in an organization is not necessarily unhealthy if.
The essence lies in how you manage “letting it out…

Conflict management for win-win solutions

Chapter 6 p.9

w&t_question

I Ask

Conflict makes me nervous! How do I thrive on it, especially in the business environment?

w&t_exclamation

I Answer

The main aim of managing conflict is to ensure that a Win-Win solution is reached through mutual cooperative and assertive behavior, where the value on the table for both parties is maximized and they get more than they contributed in terms of effort, risk and cost.

Often people deal with conflict in ways which do not result in maximum gain for all parties involved and prohibit reaching Win-Win solutions.

Do you recognize any of the following behaviours in the “Tale of the Two Sisters and the Orange”?

Forcing (Win-Lose)

The stronger sister takes the orange – grabbing it from the hand of the other, or possibly using some threat.

Assertive but uncooperative.

Avoiding (Lose-Lose)

Both sisters leave the orange rotting on the table. For one to claim it would raise conflict with the other.

Unassertive and uncooperative.

Soothing or Yielding (Lose-Win)

One sister gives in to the other.

Unassertive but cooperative.

Compromise (Win-Lose)

A compromise solution would be for each sister to take half the orange.

Problem solving (Win-Win)

A problem solving solution would be to discuss why the other wants the orange. (One sister wanted the skin to make a cake, the other wanted the inside to make juice).

Assertive and cooperative.

w&t_question

I Ask

How can I enhance my ability to solve problems and manage conflict?

w&t_exclamation

I Answer

Why don’t you explore the Issue Resolution Model further?

w&t_elephant

I Advise

Conflict in an organization is not necessarily unhealthy.

The essence lies in how you manage to let it out…

Transformation process
Transforming my career into a thriving career
Chapter 5
p.8
I really want to grow in my job and as a person become a real “World Class Champion” in everything I do. How do I go about it?
The Walk and Talk Process provides ample opportunity for growing your personal and job related skills to a level that will enable you to achieve excellence in everything you do.
Once you become aware of your current level of competence your transformation into a “World Class Champion” not only depends on how you utilize opportunities to learn but also on how you choose to deal with the feelings involved in this process of transformation.
Through learning from feedback and practicing and monitoring it, you can grow from a position of being “unconscious of your incompetence” to a position where you can do your job so well that you become “unconscious of your competence” – it just becomes the way you do things. It will, however, depend largely on how you choose to deal with feedback and the pain caused by it.
The following diagram illustrates the “Process of Transformation” as steps that we have to climb in the process of growing in our job.
Feedback can cause pain. If you ignore the signal, make excuses or go into denial, you follow the path of fools as no growth will occur.
Rather pay attention to painful signals and acknowledge them as Motivational Tools for growth.
“Incompetence” does not imply a value judgement… it refers to skills to be learned… “Competence” on the other hand refers to skills used.

Transforming my career into a thriving career

Chapter 5 p.8

w&t_question

I Ask

I really want to grow in my job and as a person become a real “World Class Champion” in everything I do. How do I go about it?

w&t_exclamation

I Answer

The Walk and Talk Process provides ample opportunity for growing your personal and job related skills to a level that will enable you to achieve excellence in everything you do.

Once you become aware of your current level of competence your transformation into a “World Class Champion” not only depends on how you utilize opportunities to learn but also on how you choose to deal with the feelings involved in this process of transformation.

Through learning from feedback and practicing and monitoring it, you can grow from a position of being “unconscious of your incompetence” to a position where you can do your job so well that you become “unconscious of your competence” – it just becomes the way you do things. It will, however, depend largely on how you choose to deal with feedback and the pain caused by it.

The following diagram illustrates the “Process of Transformation” as steps that we have to climb in the process of growing in our job.

w&t_ch7_b_the_process_of_transformation

w&t_binoculars

I Explain

Feedback can cause pain. If you ignore the signal, make excuses or go into denial, you follow the path of fools as no growth will occur.

Rather pay attention to painful signals and acknowledge them as Motivational Tools for growth. This is especially true for someone considering a midlife career change, you needs lots of input and feedback before you make the change.

w&t_elephant

I Advise

“Incompetence” does not imply a value judgement… it refers to skills to be learned… “Competence” on the other hand refers to skills used.

Use the GROW model to develop effective questioning skills
Chapter 5 p.11
I find that effective questioning is at the heart of dealing successfully with various situations. Which tools can I use to improve my questioning skills?
The “GROW Model” is one such tool which can be used for problem solving, review and assessment, relationship issues; in fact, virtually any issue which arises in work or life in general.
It is a process which elicits a positive response and generates and demands a more positive perspective from others, both clients and colleagues.
But what does “GROW” mean?
The GROW Model focuses on four aspects which can be applied when asking question in practically any situation:
G = GOALS
R = REALITY
O = OPTIONS
W = WILL
Goals:
What is the goal of this discussion?
What do you want to achieve?
Is it an end or performance goal?
If an end goal – what is the performance goal associated with it?
When do we want to achieve our goal?
(Positive – Challenging – Attainable)
Reality:
Where are we now?
Where did we come from?
What is happening now?
What results did that produce?
What is happening internally and externally?
Who is involved?What have you done about this so far?
Options:
What options do we have?
What else can we do?
What if…?
Would you like another suggestion?
What are the benefits and costs associated
with each of these options?
Will:
What are you going to do?
Will this meet your/our goal?
What obstacles could you face?
How will you overcome them?
What support do you need?
How will you get that support?
When are you going to do it?
Effective questioning and effective listening are definitely indispensable skills for effective mentioning and feedback.

Use the GROW model to develop effective questioning skills

Chapter 5 p.11

w&t_question

I Ask

I find that effective questioning is at the heart of dealing successfully with various situations. Which tools can I use to improve my questioning skills?

w&t_exclamation

I Answer

The GROW Model is one such tool which can be used for problem solving, review and assessment, relationship issues; in fact, virtually any issue which arises in work or life in general.

It is a process which elicits a positive response and generates and demands a more positive perspective from others, both clients and colleagues.

w&t_question

I Ask

But what does GROW mean?

w&t_binoculars

I Explain

The GROW Model focuses on four aspects which can be applied when asking questions in practically any situation:

G = GOALS

R = REALITY

O = OPTIONS

W = WILL

Goals

  1. What is the goal of this discussion?
  2. What do you want to achieve?
  3. Is it an end or performance goal?
  4. If an end goal – what is the performance goal associated with it?
  5. When do we want to achieve our goal?

(Positive – Challenging – Attainable)

Reality

  1. Where are we now?
  2. Where did we come from?
  3. What is happening now?
  4. What results did that produce?
  5. What is happening internally and externally?
  6. Who is involved?
  7. What have you done about this so far?

Options

  1. What options do we have?
  2. What else can we do?
  3. What if…?
  4. Would you like another suggestion?
  5. What are the benefits and costs associated with each of these options?

Will

  1. What are you going to do?
  2. Will this meet your/our goal?
  3. What obstacles could you face?
  4. How will you overcome them?
  5. What support do you need?
  6. How will you get that support?
  7. When are you going to do it?
w&t_elephant

I Advise

Effective questioning and effective listening are definitely indispensable skills for effective mentioning and feedback.

Manage anger signals and respond effectively

Chapter 5 p.9

w&t_question

I Ask

Angry? Me? No! I never get angry, at least I never show it, especially not with customers and colleagues.

Is there anything wrong with that?

w&t_exclamation

I Answer

The issue is not whether you show anger or not, but whether you know how to deal effectively with anger signals. The inability to do so often leads to destructive behavioral patterns and can easily let you end up in a guilt cycle.

What is needed, in Mike Matulovich’s terms, is real Elephant behavior in dealing with anger.

The diagram below contrasts the way in which the Elephant, the Ostrich and the Rhinoceros deal with anger.

w&t_ch5_n_responding_to_anger_signals

Four guidelines to manage anger and respond effectively:

  1. Address the problem.
    • Ask questions in order to obtain information to solve the problem.
    • Re-frame: What else could it mean?
  2. Dissociate from criticism and use a SMART action plan to solve the problem.
  3. Ask yourself what you can learn from this situation.
  4. Then let it go and forgive yourself
w&t_elephant

I Advise

Sounds to me as if some emotional awareness would serve you well in dealing with your anger.

Also remember the Issue Resolution model.

Effective team skills
Equip a team with effective team skills for maximum contribution
Chapter 6 p.1
You have often referred to Teams and Team Members.
What must I do to become an effective team member?
A team is composed of a number of individuals
working towards a common goal.
In the life of any team certain needs or problems crop up from
time to time. Sometimes a need for creativity arises;
issues arise that need to be resolved within the team;
different interests or points of view have to be reconciled to ensure maximum gain.
Equipping each team member with effective Team Skills will ensure maximum contribution by each member to the team process and ensure that the team adds maximum value to the customer and other stakeholders … And ultimately adds value to themselves.
Once again we present a MIND MAP to guide us on a journey through the most important principles which effective team members should master.
Remember however that an understanding of all the other skills described in this book are essential for the effective operation of teams.
Effective team skills:
The Issue Resolution model
The Six Thinking Hats
Win-Win Negotiation for maximum joint gain
Common problems with meetings
Conflict management
Creative and objective problem solving
Decision making model

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team player skills

Effective Team Player Skills

Equip team members with effective team player skills for maximum contribution

(See also: Seven habits of highly successful people)

Effective team skills

This info sheet work in a question and answer fashion. First we ask the most common question on team player skills and then provide answers with detailed explanations.

team player skills

Ask

You have often referred to Teams and Team Members.

What must I do to become an effective team member?

team member skills

Answer

A team is composed of a number of individuals working towards a common goal.

In the life of any team certain needs or problems crop up from time to time. Sometimes a need for creativity arises, issues arise that need to be resolved within the team, different interests or points of view have to be reconciled to ensure maximum gain.

effective team working skills

Effective Team Working Skills

Equipping each team member with effective team skills will ensure maximum contribution by each member to the team process and ensure that the team adds maximum value to the customer and other stakeholders … And ultimately adds value to themselves.

effective team member

Explain

We provide a list of effective team member skills below to guide you on a journey through the most important principles that effective team members should master.

An understanding of all the other skills mentioned below are essential for the effective operation of teams.

Effective team skills