accelerated learning

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Managing Customer Relationships

Published May 17, 2016 by Mayrbear's Lair

 

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Customer Relationship Management (CRM) is a strategic approach that marketers implement to manage customer interactions in an organized fashion. Buttle and Maklan (2009) describe CRM as a disciplined practice developed in organizational management to build and maintain profitable consumer relationships. CRM programs manage all aspects of interaction a consumer has with a company, which includes prospecting, sales, and service (Buttle & Maklan, 2009). In short, CRM methodologies are designed to provide insight in company/client relationships to help improve them. One way of doing this is showing appreciation to clients and making them feel valued. For example, a mortgage and loan broker will send out a thank you gift to a borrower that just closed on a loan to help show appreciation for their business. This maneuver is effective in building a relationship with the client that can help encourage repeat business and new referrals. Customers that feel special and have a positive experience with an organization tend to remain loyal to the brand.

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There are many steps involved in the planning and implementation of an effective CRM program. Baack and Clow (2012) explain that the objective of relationship marketing is to understand how consumers behave and what they want. By establishing direct communication through methods that include (a) surveys, (b) gifts, (c) promotions, and (d) service lines, companies can establish more personal relationships with their clientele through this interaction and the data they collect (Baack & Clow, 2012). Corporate advertisers implement various methods of CRM strategies, all of them however, begin with strong database and information collection systems. Up to date databases help identify and segment a target audience. Database systems that record consumer interaction including: (a) details about their sales experience, (b) personal interests, (c) family interests, and (d) other relevant data to help identify personal habits and behavior, are used to build intimate relationships with clients to make them feel special so that in turn they will offer their loyalty. The data gathered also reveals other significant data such as how many times they make purchases, visit stores, websites and other social media outlets. All of this information is assessed to help marketers determine whether to rekindle old inactive relationships or release them to make room for other more substantial leads.

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The experience a consumer has with a company will determine whether that brand becomes a favorite or is abandoned. Kumar and Reinartz (2012) purport that strategic CRM approaches have become more popular in recent years because the field has changed for many reasons, including advances in marketplace technology. CRM programs provide insights into past, current, and future trends that continue to influence consumer behavior. In addition, CRM strategies help develop better relationships with existing profitable consumers, locate and entice new ones that will be profitable, and implement effective strategies to maintain them while terminating relationships that cause profit loss (Kumar & Reinartz, 2012). The concept of customer value is critical to CRM programs. For example, I made an online purchase with the Jockey Company and to entice me as a first time consumer, they offered a twenty dollar discount to try one of their new innovative and custom designed products. The custom design factor made it a more personal experience. As a result of the positive experience, I gave them permission to send email alerts on other special values and sales items. Furthermore, every time I visit their website to view new offers, I am personally welcomed. Plus, my payment information is already stored for quick checkout. The experience with the Jockey Corporation was fun, personal and unique. From my perspective, doing business with the Jockey brand was more pleasant because of the effective CRM strategies they incorporated. It was the personal touch that made me feel valued as a consumer and in doing so, they earned my loyalty.

Well, that’s it for today! Until next time … keep working on your management skills!

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The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself.

Peter Drucker

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For more information on Media Magic’s digital publications, or to purchase any of our Business Life audio book titles, please visit amazon.com’s new feature called “Author Central” to view:

 Mayr’s Author’s Page

References:

Baack, D., & Clow, K. (2012). Integrated advertising, promotion, and marketing communications (Fifth ed.). Upper Saddle River, NY: Pearson Education, Inc.

Buttle, F., & Maklan, S. (2009). Customer relationship management. Burlington, MA: Elsevier Ltd.

Kumar, V., & Reinartz, W. (2012). Customer relationship management (second ed.). Atlanta: Springer-Verlag Berlin Heidelberg.

Developing an Entrepreneurial Climate and Culture

Published April 21, 2016 by Mayrbear's Lair

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On Tuesday we began a discussion on the environment of an entrepreneurial arena, today we continue our analysis with a focus on climate and culture. One thing many experts will agree on, is that an entrepreneurial climate must adhere to innovation and change. For example, the culture of virtual organizations has really taken off which has transformed the modern work place. Virtual mediums enable leaders to accept, expect, and encourage innovations that include the staff in the co-creation process, make adjustments and adaptations based on user feedback, and coalesce from remote locations. Badal (2013) postulates that to create a successful environment, leaders should be: (a) driven; (b) display effective communication skills; (c) are able to motivate and inspire others; (d) can identify strengths and weaknesses in themselves as well as others; and (e) turn challenges into opportunities (Badal, 2013). For instance, one way to evolve an organization, may be to create an entrepreneurial climate that implements a daily ritual which includes various strategies that focus on the health and well-being of staff members. Effective leaders recognize the importance of focused intentions and attention on matters such as how self-disciplinary actions can help employees achieve and maintain effectiveness in their positions; especially in the early stages where a venture consists of very few individuals to help motivate each other. This disciplinary component is one way to nurture an individual’s confidence, as well as develop their stamina which can in turn, help drive their internal engines to achieve successful outcomes.

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Culture

Hisrch and Kearney (2012) describe corporate entrepreneurs as mavericks and innovators. They are pioneers that spark new enterprises, products, and services by developing, growing and designing a culture which incorporates strategies, structure and policies to support their ventures (Hisrich & Kearney, 2012). When creating an entrepreneurial culture, successful leaders will assess the following components: (a) the technologies available required to operate effectively;  (b) the fluctuation in cost of goods, exchange rates, interest rates, tax incentives and a price for services; (c) marketplace competition; (d) labor force requirements; (e) resource availability; (f) who the target market and customers are; (g) an understanding of law, restrictions and regulations for operation; (h) and the global environment that includes real-time communication, productivity, distributors, suppliers and other strategic alliances (Morris, Kuratko, & Covin, 2011).  Although an operation may begin as a small entity, the creative culture the leaders nurture is key to achieving their goals.

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What our research this week revealed, is that without analysis and support in their venture, entrepreneurs tend to give up and quit. Furthermore, visionary leaders that recognize talented corporate entrepreneurs are in a better position to help their firm benefit more by facilitating a platform which nurtures employee creativity by including new innovations as well as a comprehensive business plan to optimize their chances of success while managing internal politics effectively (Hisrich & Kearney, 2012).  In other words, our analysis of the culture, climate and environment within an entrepreneurial organization, proved to be essential components in the development of successful business establishments.

Well, that’s it for this week! Until next time … have fun exploring your entrepreneurial options!

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“What happens when people open their hearts? They get better.” ― Haruki Murakami

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For more information on Media Magic’s digital publications, or to purchase any of our Business Life audio book titles, please visit amazon.com’s new feature called “Author Central” to view:

 Mayr’s Author’s Page

 

References:

Badal, S. (2013). Building corporate entrepreneurship is hard work. Retrieved February 13, 2013, from Gallup Business Journal: http://businessjournal.gallup.com/content/157604/building-corporate-entrepreneurship-hard-work.aspx

Hisrich, R., & Kearney, C. (2012). Corporate entrepreneurship: How to create a thriving entrepreneurial spirit throughout your company. New York, NY: McGraw-Hill Publishing.

Morris, M., Kuratko, D., & Covin, J. (2011). Corporate entrepreneurship and innovation (3rd ed.). Mason, OH: South-Western College Publishing.

 

Creating an Entrepreneurial Climate

Published April 19, 2016 by Mayrbear's Lair

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This week we analyze the development of an entrepreneurial arena with focus on culture, climate, and environment as integral components of the process.  We will examine elements that assist to create an effective entrepreneurial environment and determine whether those factors support a viable venture.  We will also take into consideration, the climate entrepreneurs establish and the position new innovations and technologies play to encourage the development of an entrepreneurial atmosphere.  In addition, we will look at the strategies, as well as the structure, and the policies that support entrepreneurial ventures and their strategic alliances. We will also critically assess how these components affect the organizational experience, and look at how without thorough planning and the establishment of a solid support system, entrepreneurs face many challenges that can encourage them to give up and quit. Our research work will also reveal how the most successful entrepreneurs: (a) assess their strengths and weaknesses; (b) embrace an arena that supports trial and error; and (c) exhibit an ability to make adjustments and learn from any miscalculations and reveal why this setting will most likely enable entrepreneurs to thrive in their venture.

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We are in the midst of a global entrepreneurial revolution in every nation, industry and market.  According to Morris, et al. (2011) startups are at an all-time high with new products and services also at record levels in most industries (Morris, Kuratko, & Covin, 2011).  In the meantime many of these new startups fail as quickly as they emerge.  In order for a venture to have the best chance of survival experts concur that an analysis of the culture, climate and environment of an entrepreneurial organization is required in creating a successful establishment.

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Environment

To create a successful entrepreneurial environment an individual needs to identify opportunities and generate new growth (Hisrich & Kearney, 2012).  An analysis of the following components can help ascertain whether a venture is worth considering: (a) the technology incorporated; (b) the ability to nurture new ideas; (c) the establishment of systems and strategies to cope with failure; (d) the determination, accessibility and availability of resources; and (e) the channels available that support management.  For example, challenges from high unemployment rates, can spark new ideas for innovative employment solutions. A joblessness condition may present an opportunity for someone with an entrepreneurial spirit and experience in administration to step in and provide specialty services specifically targeted to support corporate executives and businesses. To create a constructive entrepreneurial environment, however, the individual is encouraged to conduct a critical organizational assessment to help foster solutions and harness support, which includes their having access to additional resources. In the meantime, armed with a positive attitude, entrepreneurs will continue to grow because of their ability to embrace an openness which incorporates new innovative ideas with technologies that encourage creativity in addition to their support from cohesive plans and strategies.

Well, that’s it for this time! On Thursday we will conclude this discussion. Until then … keep working on your leadership skills!

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The most important decision we make is whether we believe we live in a friendly or hostile universe.

Albert Einstein

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 Mayr’s Author’s Page

References:

Hisrich, R., & Kearney, C. (2012). Corporate entrepreneurship: How to create a thriving entrepreneurial spirit throughout your company. New York, NY: McGraw-Hill Publishing.

Morris, M., Kuratko, D., & Covin, J. (2011). Corporate entrepreneurship and innovation (3rd ed.). Mason, OH: South-Western College Publishing.

 

The Branson Philosophy

Published April 14, 2016 by Mayrbear's Lair

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Sir Richard Branson is an exemplary illustration of an entrepreneur and an esteemed business leader. He is also a humanitarian that is proactive in politics. His innovative and groundbreaking ventures demonstrate a fearless maverick style that supports risk taking. His many successful achievements include founding the Virgin Group Company with branches that extend into the media; airlines and rail; wine and mobile phone services; and a trustee of several charities including the Virgin Healthcare Foundation and Virgin Unite. In December of 1999, The Queen of England honored him with a knighthood for his services to entrepreneurship. Not afraid of adventure or failure, this internationally renowned explorer has been involved in numerous world record breaking attempts, including the first hot-air balloon to cross the Atlantic. Consistent with his lively ambitious and expansionist attitude, Sir Richard’s latest enterprise is Virgin Galactic, a space tourism company that will take passengers into suborbital space (Entrepreneur, adventurer and businessman Richard Branson challenges financial profesionals to have a ‘planetary point of view’, 2006).

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Virgin Galactic

Branson is also one of the most respected entrepreneurs in the world. His philosophy, “Oh, screw it, let’s do it” (Branson, 2011, p. 14), drives his ambitious spirit as the locomotive to his success. He recommends four simple principles that can help us achieve higher levels of success:

  1.  Live in the moment – In the world of business, quick decisive actions can have big pay offs.
  2.  Have fun – Chances for success is much greater when you do what you love and are joyful doing it.
  3. Give back – Show good stewardship and help others even if it is minimal and do so with gratitude and appreciation.
  4. Never give up – The word defeat is anathema in any endeavor (What I learned about entrepreneurship from Richard Branson, 2011).

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The Branson Centre

He also opened the Branson Centre, a facility in the Caribbean committed to developing entrepreneurship. The Centre offers a mentorship program to help budding entrepreneurs with networking and exposure, and also assists with the coaching and financing aspects of their needs. Jamaicans lacked technical support, adhered to a complicated tax structure, and were in need of additional capital. The Centre offers an arena that helped them launch new entrepreneurial businesses to stimulate job creation and provide opportunities for the locals in the region as well as improve their communities and fuel their economy (Branson Centre, 2011).

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To sum up, Branson’s humanitarian endeavors and his concerns for environmental impact are inspirational leadership qualities in an entrepreneur. For example, another one of his companies is called Seascape Caribbean. It is focused on the restoration of the coral reefs in the coastal region and another, Leanne Talbot of Island Cycle, is dedicated to recycling waste into usable products (Branson Centre, 2011). Sir Richard’s innovative ideas and contributions help enable economic freedom for the employers of the future that support the creation of new jobs. In conclusion, as the founder of many successful business ventures that continue to create opportunities with environmental consciousness, Sir Richard Branson still remains relevant as one of the most commendable visionary entrepreneurs and humanitarians of the modern era.

Well that’s it for this week … until next time … keep honing your management skills!

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“We think so often that we are helpless, but we’re not. We always have the power of our minds… Claim and consciously use your power.” ― Louise L. Hay

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For more information on Media Magic’s digital publications, or to purchase any of our Business Life audio book titles, please visit amazon.com’s new feature called “Author Central” to view:

 Mayr’s Author’s Page

References

Entrepreneur, adventurer and businessman Richard Branson challenges financial profesionals to have a ‘planetary point of view’. (2006, October 15). Retrieved February 14, 2013, from ProQuest: http://search.proquest.com.proxy-library.ashford.edu/docview/447141732?accountid=32521

Branson Centre. (2011, September 13). Retrieved February 14, 2013, from ProQuest Central: http://search.proquest.com.proxy-library.ashford.edu/docview/888611281?accountid=32521

What I learned about entrepreneurship from Richard Branson. (2011, November 22). Retrieved February 14, 2013, from ProQuest Central: http://search.proquest.com.proxy-library.ashford.edu/docview/1030937503?accountid=32521

Branson, R. (2011). Losing my virginity: How I survived, had fun, and made a fortune doing business my way (Updated ed., p. 14). London, UK: Crown Publishing Group.

Entrepreneurship

Published April 12, 2016 by Mayrbear's Lair

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When you hear the term entrepreneur, an image emerges of someone who organizes and operates a business which involves taking certain risks. One of the most successful examples of entrepreneurs in the modern age is Sir Richard Branson. As a charismatic visionary, he makes running a business seem effortless and fun. Furthermore, he displays a disciplined work ethic that is focus-driven, illustrates his adventurous spirit, and demonstrates his passion and devotion to the business process that is unwavering. Although he takes many risks that can fail, Sir Richard is recognized as one of the highest achievers in the world of entrepreneurs.

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To be a successful entrepreneur in today’s marketplace requires more than just luck and diligence. It requires an ability to create something of value in a demanding environment of high uncertainty and risk which necessitates flexibility and the capability of learning from failure. In addition, an entrepreneur brings to the arena a host of components that include resources, labor, and other various skills and materials. The most renowned entrepreneurs, like Sir Richard, Oprah Winfrey and Bill Gates, are driven by an internal force with an inherent need to make a difference in the world while escaping the confinements of bureaucracy (Ries, 2011).

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In his book, The Lean Startup, Eric Ries (2011) defines entrepreneurship as the process of creating something new of value by devoting time and effort in the venture.  Entrepreneurs pursue their business endeavors with passion and enthusiasm. This drives the engine that attracts success and monetary rewards. He outlines the following four behavioral characteristics that identify the entrepreneurial spirit: 1) creating a vision; 2) organizing and steering economic structures and social networks; 3) combining resources in innovative ways; and 4) accelerating with the acceptance of uncertainty, setbacks, and failure (Ries, 2011).

In our next post we conclude our discussion and take a close look at the successful formula Branson incorporates to reach his goals .

Until then … keep working on your leadership skills!

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A completely integrated person is one who has learned to meet everything as it comes along and makes the best of it!

Ernest Holmes, Science of the Mind

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For more information on Media Magic’s digital publications, or to purchase any of our Business Life audio book titles, please visit amazon.com’s new feature called “Author Central” to view:

 Mayr’s Author’s Page

Resources:

Ries, E. (2011). The lean startup: How today’s entrepreneurs use continuous innovation to create radically successful businesses. New York, NY: Random House, Inc.

Building a Brand Name

Published April 7, 2016 by Mayrbear's Lair

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Many people are often confused by the term brand and the differences that constitute a brand and a brand name. While a corporate image or brand summarizes what a company stands for, the brand name, on the other hand, consists of the company name and the symbols that are incorporated into their goods and services designed to clearly communicate what an organization stands for. Baack and Clow (2012) explain that a company’s logo identifies brand names and embodies the symbols that distinguish the company, its products, and their services.  A logo therefore, represents the emblem that adds an additional aspect to a corporation’s image that supports the organization’s name and mission (Baack & Clow, 2012). For example, because the mind processes images faster than it does words, logo identification occurs in the following two ways: (a) a memory recall or recognition of the logo and (b) an emotional recall of that individual’s experience with the company.  Nike’s swoosh logo for instance, is merely the graphic representation of the company symbol that together with the brand name evokes various emotions, memories, and ideas.

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The design of the logo is a significant feature because in many cases, the company’s brand name will include a number of products under one family name.  The Apple Corporation, for example, provides many quality electronic products for consumers, including computers, smartphones, music devices, and tablets.  Their corporate brand name is one of the most recognizable symbols in the global marketplace because they continue to deliver innovative quality products and keep their promises.  In fact, consumers are so passionate and loyal about their merchandise, they are sought after in an unparalleled fashion witnessed by the long lines at Apple outlets stores each time a new product is launched.  In short, a company’s brand name represents the company’s image and is designed to support a positive reputation by keeping the promises they make to their shareholders.  Virgin Airlines for instance, provided quality service but was supported and backed by the stellar reputation of the Virgin brand name. This is one of the most effective ways to launch a new product or company.  An established giant like Virgin or Apple can provide many components to help a new offshoot achieve success.  This is one way brand names and corporate images support each other.

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Brand names represent the symbols assigned to goods or services that in turn help shape and define a corporate image.  Fombrun (1996) reminds us that the world has grown to worship greatness.  People in modern society value aptitude, celebrate talent, exalt brilliance, and revere genius.  Contemporary athletes, for instance, that compete in the Olympic Games are not paid a salary.  For them, receiving a medal is a far more valuable asset due to one significant tenet: a reputation as a top performer.  This provides the foundation that helps them develop an image they can use to build their brand name.  The rise of mass marketing makes it possible to achieve greater levels of prestige and wealth whether as an athlete, politician, artist, or organization, because the competition for a stellar reputation is fierce.  Many people in fact, wallow in the radiance of their heroes and often elevate them to near mythological status expecting perfection in return (Fombrun, 1996).  A majority have the same expectations of the companies they support, the products they purchase, and often assign corporations similar iconic positions.  Not only are people shaped and influenced by a company’s decisions and innovations, they are content to support these giants on their high altars of fame.  The findings of this research conclude that there are many components that differentiate a corporate image from a corporate brand name.  The keys to building an effective positive corporate image include a clear communication of: (a) the benefits a company’s goods and services they provide, (b) a mission that is part of their corporate message, and (c) keeping their promises.  The combination of these components help effectively communicate what the company represents that helps shape the attitude of their shareholders which in turn motivates them to offer their loyalty and support.

Well’ that’s a wrap for this week. Until next time … keep working on your management skills!

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“What happens when people open their hearts? They get better.” ― Haruki Murakami

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Accelerated Learning Ebooks Aug 2015 3

For more information on Media Magic’s digital publications, or to purchase any of our Business Life audio book titles, please visit amazon.com’s new feature called “Author Central” to view:

 Mayr’s Author’s Page

References

Baack, D., & Clow, K. (2012). Integrated advertising, promotion, and marketing communications (Fifth ed.). Upper Saddle River, NY: Pearson Education, Inc.

Fombrun, C. (1996). Reputation: Realizing value from the corporate image. Boston, MA: Harvard Business Review Press.

Hatch, M., & Schultz, M. (2008). Taking brand initiative. San Francisco, CA: Jossey-Bass Publishing.

Ross, M. (2010). Branding basics for small business: How to create an irresistible brand on any budget. Bedford, IN, USA: NorLightsPress.com.

Vincent, L. (2012). Brand real: How smart companies live their brand promise and inspire fierce customer loyalty. New York, NY: AMACOM.

 

 

Building a Brand

Published April 5, 2016 by Mayrbear's Lair

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This week’s posts are centered on building a brand image. There are many components that define a corporate image to help it stand apart from a corporate brand name.  For example, in the past, many international travelers jokingly referred to the BA acronym of British Airways to mean Bloody Awful.  This was a reflection of the negative corporate image they developed due to the onslaught of consumer complaints that surfaced with respect to the incompetent manner in which the airlines operated and treated their customers. Our research provides a brief analysis on the topics of corporate images, their brand names, and the significant components that differentiate them.  In addition, our study will disclose how they are related and provide further examples to help illustrate these concepts.  The findings of our research concluded that even though brands names are assigned to goods or services, there are many components that make them stand apart from a corporate image and that ultimately, the unification of these two components, serve to effectively communicate what the company represents to help shape the attitude of their shareholders.

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Corporate Image

One of the most significant components of a corporate image is that it communicates the benefits of a company’s goods and services that appeal to consumer emotions.  Ross (2010) explains that a corporate image should represent the following three components: (a) the company’s story, (b) their core purpose, and (c) the promises they make to consumers.  In short, a corporate image reflects the organization’s reputation that will ultimately live on in the memories of consumers.  To put it another way, a corporate image is what consumers say about a company, not about what a company says about themselves.  In addition, a corporate image can help shape and influence the decisions consumers make and the actions they take (Ross, 2010).  For instance, when many individuals think of a company like Denny’s, images immediately flood their head including tasty food, a welcoming atmosphere, and heartwarming family gatherings.  These images reflect positive experiences with the restaurant chain.  Positive emotions translate to feelings of joy and comfort which in turn produces loyal consumers.  Successful companies like Denny’s, Honda, and Nike provide excellent illustrations of companies that have established strong corporate images.  In fact, they have experienced unprecedented success because they all incorporate a mission as part of their corporate image.  These identify what the company stands for and are usually revealed in the tag lines of their ads to support the company image or brand.

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Simply explained, a corporate image summarizes what the company stands for and the feelings they emote from their customers.  In addition, Vincent (2012) purports that equally important to a company’s image or brand, is that they keep the promises they make and deliver a powerful experience (Vincent, 2012).  For example, when people think of the Disney Company, many images and feelings are evoked depending on a person’s experience with the company or their family offshoots, like the Disney theme parks, or the many Disney movies that may have had a profound impact on them.  This is yet another example of how a memorable experience with an organization can influence consumer emotions in both positive and negative ways.  What an individual feels after their experience interacting with a company, whether happy, more confident, or embarrassment and defeat, are all components that help shape a company’s corporate image.  Companies that display consistent behavior, communicate clear messages, and keep their promises, can guide investments and grow substantially regardless of budget constraints or time crunches whether they are a startup, a nonprofit, or a big conglomerate like a Nike or Disney.

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The negative feelings many people had about British Airlines, for instance, mentioned at the beginning of this post, presents another excellent case of the impact a tarnished corporate image can have on an organization as well as create new opportunities.  For example, this situational challenge in the airline industry was the catalyst that motivated The Virgin Company’s entrepreneurial giant, Richard Branson, to take action.  Out of frustration from his own travel experiences and banking on the stellar corporate image of the Virgin brand, Branson developed an offshoot company and launched Virgin Airlines.  He was able to recognize a problem that existed that many airlines did not want to address at the time: quality service.

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Driven by fierce determination to tackle these issues, Virgin Airlines went on to become a huge success in the aviation industry.  In the meantime, Hatch and Schultz (2008) explain that British Airways used the negative publicity as incentive to make changes and by the 1990s, BA’s conditions improved significantly.  With the strategic help of marketing experts they were able to change those negative perceptions to reposition BA and turn their reputation around.  One of the strategies incorporated to achieve this goal was the development of a new tagline that focused on positive concepts that professed the company had become “the world’s favorite airline.”  Emphasizing the word favorite helped them devise a new corporate image and created a symbol that attracted consumers which helped put BA back in a dominant position in their industry (Hatch & Schultz, 2008).  By developing a new strategy BA was effectively able to communicate a new attitude that won back trust from consumers.

That’s it for today’s discussion. On Thursday’s post we will take a closer look at building a brand name. Until then … keep enhancing your leadership skills!

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“Each one has to find his peace from within.” ― Mahatma Gandhi

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2 organizational management business skills publications nov 2014

For more information on Media Magic’s digital publications, or to purchase any of our Business Life audio book titles, please visit amazon.com’s new feature called “Author Central” to view:

 Mayr’s Author’s Page

References:

 

Hatch, M., & Schultz, M. (2008). Taking brand initiative. San Francisco, CA: Jossey-Bass Publishing.

Ross, M. (2010). Branding basics for small business: How to create an irresistible brand on any budget. Bedford, IN, USA: NorLightsPress.com.

Vincent, L. (2012). Brand real: How smart companies live the

Using E.Q. to Resolve Conflicts

Published March 31, 2016 by Mayrbear's Lair

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This week we began a discussion on how to resolve conflicts using our emotional intelligence. Today’s post continues that discussion by taking a closer look at the role that self-motivation and balance play in the development of our emotional intelligence.

In my eBook, Ethics in the Real World, my research work helped me comprehend that self-motivation is an important factor in defining emotional intelligence. It reveals strength and/or weaknesses of a person’s character in their ability to persist even after they fail. In fact, I realized that it is a key element which helps determine whether a person will succeed or fail in achieving their goals. There are many times, for example, when self-motivation plays a key role in the decision making process. Without the influence of a team, supervisor, or mentor to assist in the motivation process, reaching goals may be difficult to attain. Self-sufficient individuals, on the other hand, rely heavily on discipline techniques like time management and goal-setting strategies to keep on track. They incorporate activities that are inspiring and uplifting. This strategy helps energize new levels of enthusiasm and focus. They also serve to help strengthen an individual’s: (a) self-concept, (b) self-esteem, (c) self-efficacy, (d) self-monitoring, and (e) emotional intelligence. People with lesser degrees of E.Q. however, tend to lack focus, discipline, and have not incorporated self-management practices. As a result, they tend to experience reduced life coping skills, and may even have difficulty functioning effectively in social settings (Berry, 2013).

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My research work also revealed that leaders in the workplace that fail to identify the source and level of a conflict, are more than likely to experience productivity reduction and motivational issues which can further impede worker participation. Recognizing the level of conflict is a good starting place to begin at. For instance, when an organizational leader faces a situation where they feel everything around them is falling apart, it is imperative they acknowledge the critical and immediate need to address the outcomes of the firm’s failures. In other words, the driving force behind this leader’s actions would require an urgent short term response with focused attention on developing a plan that will address and resolve the failed outcome issues as well as come up with better long term solutions. Furthermore, conflict in a work arena can also prevent workers from experiencing job satisfaction.

In his book, Conflict Resolution, Daniel Dana (2003) purports that good decision-making helps prevent conflict (Dana 2003). In other words, leaders who can identify the source and level of a conflict, are in a better position to use this information to address problematic issues effectively and successfully to avoid consequences like employees who lack motivation, the slowing of productivity, and most important, damaging relationships which can ultimately lead to the dissolution of an organization.

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So what can leaders do to help staff members who seem to struggle with issues that prevent them from making effective decisions from a place of emotional intelligence? According to Holmes (2007) providing positive input is one strategy that can help. In fact, Holmes suggests that leaders can rely on the same methods and techniques they use in resolving their own conflicts. In other words, leaders are encouraged to use the same approach to help others as they do when they help themselves. For example, successful leaders will take positive action that will prove beneficial in their own lives and by doing so, they affirm their own self-worth. In other words, they acknowledge the positive effect that input or activity has in their life and affairs and recognize that when they in turn, extend positive energy to help others, they are affirming the same truth about that person. The same is true with respect to a group of people or specific situations (Holmes, 2007).

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In conclusion, an effective way for leaders to resolve conflicts is their ability to return to a place of harmony and balance. In other words, people who are able to resolve conflicts with intellectual strategies from a place of emotional intelligence will achieve the most successful outcomes. In his motivational programs, Deepak Chopra (2016) suggests that the ultimate goal is to achieve total balance in order to live a healthy life of abundance and fulfillment. He purports this cannot be achieved with struggle, worry, or fighting (Chopra, 2016). What this means, is that with mindful awareness, effort and discipline, conflict resolutions can be achieved more successfully when done so from a mental state of total balance.

Well that’s it for this week. Until next time … stay organized!

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“Making each moment count positively is all that life demands from you.” ― Edmond Mbiaka

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For more information on Media Magic’s digital publications, or to purchase any of our Business Life audio book titles, please visit amazon.com’s new feature called “Author Central” to view:

 Mayr’s Author’s Page

References:

Berry, M. A. (2013). Ethics in the Real World. USA: Kindle Direct Publishing.

Chopra, D. (2016, March 27). Total balance is natural balance. Retrieved March 27, 2016, from Shedding weight 21 day meditation challenge: https://chopracentermeditation.com/experience#_=_

Dana, D. (2003). Conflict resolution. New York: McGraw-Hill.

Holmes, E. (2007). 365 science of mind. New York: Penguin.

Resolving Conflicts with Emotional Intelligence

Published March 29, 2016 by Mayrbear's Lair

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We’re back from taking a little time off for some Spring cleaning and organization. Traditionally, Spring Break is that time of year when people plan activities to help break away from daily schedules. They look forward to enjoying some well earned rest and relaxation away from the long hours dedicated to careers and personal obligations. It is also a special time when friends and families gather to celebrate various springtime holidays like Easter, Passover, Pentecost, Beltane, and just schedule a little down time to recharge their inner batteries.

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However, in many places, spring break has been anything but a time of rest and relaxation. In fact, even the season of spring seems to have eluded many in parts of the country, while others face the conflict of devastation and destruction suffered by terrorist attacks. Then, there are those of us in America, who are faced with having to intellectually absorb and process the conflicts displayed by the front runners of the U.S. presidential campaigns that have plagued the transmissions of all media outlets.

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As a survivor of various conflicts, including domestic violence and abuse, my life situations have taught me that the best way to resolve any conflict requires engaging two significant components: I.Q. (intelligence) and E.Q (emotional intelligence – a person’s ability to adapt to change and environmental turbulence).

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My research work on Ethics at Ashford University, which was published in my eBook, Ethics in the Real World (2013) helped me understand that it is a person’s emotional intelligence that reflects their ability to detect and manage emotional cues and information. It can also play a significant role in helping an individual achieve successful outcomes.

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In his book, Organizational Behavior, Donald Bacck (2012) asserts that a person’s emotional intelligence helps predict their abilities as leaders. In addition, a person’s E.Q. can be a major asset or hindrance when working in jobs with high levels of social interaction.

Baack outlines five personality traits that define emotional intelligence:

  1. Self-awareness – being aware personal feelings and emotions.
  2. Self-management – the ability to manage personal emotions and impulses.
  3. Self motivation or persistence – the ability to continue giving effort even after setbacks or failures.
  4. Empathy – the ability to sense the feelings of others.
  5. Social skills – the ability to cope with the emotions of others.

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According to Baack, these five personality traits have implications for more general outcomes as well, such is life satisfaction. He further emphasizes that unexamined self-concept, poor self-esteem, low self efficacy, the lack of self-monitoring, and lesser degrees of emotional intelligence tend to reduce one’s life coping skills, or inhibit a person’s ability to function effectively in social situations. Because of this factor, the most successful leaders will spend additional time working with employees who exhibit an inability to resolve conflicts due to emotional intelligence issues. (Baack, 2012).

Well, that’s a wrap for today. On Thursday’s post, we will conclude our discussion on resolving conflicts with emotional intelligence.

Until then … keep working on your organizational management skills!

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“The road to health for everyone is through moderation, harmony, and a sound mind in a sound body.” ― Jostein Gaarder

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For more information on Media Magic’s digital publications, or to purchase any of our Business Life audio book titles, please visit amazon.com’s new feature called “Author Central” to view:

 Mayr’s Author’s Page

References:

Baack, D. (2012). Organizational Behavior. San Diego, CA: Bridgepoint Education, Inc.

Berry, M. A. (2013). Ethics in the Real World. USA: Kindle Direct Publishing.

Knowledge in Business Law

Published March 8, 2016 by Mayrbear's Lair

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Business laws are the rules of behavior set forth by the government to help benefit society as a whole. One of the reasons many people believe studying the law is difficult is because of the vast amount of “factions” that constitute the legal system which are all operating simultaneously. For instance, there are State and Federal Laws, Statutory Laws, Administrative Laws, Local Laws, and so on and so forth.

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In a business arena, leaders who have knowledge of business laws are likely to function more successfully. The reason is because their life and the law, whether they like it or not, are intermingled. Therefore, having a basic understanding of the laws, their application, and their influences, will serve executives well, both in business as well as in their personal lives.

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In the meantime, large organizations have their own legal departments or access to large law firms, whereas small businesses typically operate with minimal awareness of the law and have nominal access to legal counsel. This makes having knowledge in law or better still, a legal background, even more valuable in the marketplace.

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In her book, Business Law for Managers, Gwen Seaquist (2012) postulates that any business will benefit greatly by hiring employees at all levels who have at least a basic understanding of the law. Seaquest contends that company staff members like these who come armed with a solid grasp of essential legal principles, can recognize potential legal problems and refer them to legal counsel before they turn into costly matters which can threaten the health of a business (Seaquist, 2012). Employees in a position to identify legal issues, often referred to as preventative law, are in a better position to save the firm money as well as prevent the hassle of a lawsuit, and stop conflicts from progressing into litigation. Plus, it helps maintain a lawful and ethical work arena.

Well that’s it for today. We are taking a short time off for Spring Break and will return after the break with new posts. Thanks for stopping by! Until then … keep working on your leadership skills!

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At his best, man is the noblest of all animals; separated from law and justice, he is the worst.

Aristotle

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For more information on Media Magic’s digital publications, or to purchase any of our Business Life audio book titles, please visit amazon.com’s new feature called “Author Central” to view:

 Mayr’s Author’s Page

Reference:

Seaquist, G. (2012). Business law for managers. San Diego: Bridgepoint Educations, Inc.