Friday, March 31. 2023
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in Business Lessons, Coaching, Economy, Life Lessons, Strategy - Trends, Teamwork
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00:19
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Business Culture – Music Groups – or - The Role of Culture in Shaping Business SuccessBusiness culture is the way things get done in an organization. It encompasses the values, beliefs, behaviors, and attitudes that define how individuals and groups interact with each other and with customers. Culture is often described as the "personality" of a company and plays a crucial role in shaping the organization's success. It's important to recognize that no culture is inherently right or wrong. Each culture has its strengths and weaknesses, and what works for one organization may not work for another. What's crucial is that the culture aligns with the organization's values, goals, and strategies. It's up to the organization's leaders to shape the culture to create a cohesive and productive work environment. Formal Culture - Orchestra In a formal culture, there are clear rules, regulations, and protocols that govern how individuals interact with each other and with customers. Communication tends to be hierarchical, with decisions made at the top and cascaded down the organization. Employees are expected to follow established procedures and adhere to strict standards of behavior. The orchestra is an apt metaphor for a formal culture. Members of an orchestra must follow the conductor's cues and play their instruments in a precise and coordinated way. The conductor is the leader who sets the tone and direction for the performance. Informal Culture - Irish Rovers In an informal culture, the focus is on relationships and collaboration. Employees are encouraged to share their ideas and opinions, and communication tends to be more horizontal than vertical. There may be fewer formal rules and procedures, and employees may be given more autonomy to make decisions. The Irish Rovers, a folk music group, exemplify an informal culture. Folk music is often passed down through generations, with each musician adding their own interpretation and improvisation. Collaboration and spontaneity are key elements of folk music, much like an informal business culture. Chaotic Culture - Heavy Metal Group In a chaotic culture, there may be little structure or organization. Communication may be unclear or even non-existent, and there may be a lack of direction or strategy. Employees may feel unsupported or uncertain about their roles and responsibilities. A heavy metal group is an appropriate analogy for a chaotic culture. Heavy metal is known for its loud, aggressive sound and rebellious attitude. The lack of structure and rules in heavy metal music is often seen as a form of artistic expression, but it may also lead to chaos and disorganization. "Go with the flow" culture - Jazz group A "go with the flow" culture is characterized by a sense of fluidity and adaptability. In a "go with the flow" culture, employees are encouraged to be flexible and open to change, and there is a sense of collaboration and cooperation among team members. A jazz group provides a good metaphor for this type of culture, as jazz musicians often improvise and build on one another's ideas, creating a dynamic and evolving sound. In a "go with the flow" culture, employees are empowered to take ownership of their work, and are encouraged to experiment and take risks. This can lead to a sense of excitement and innovation, as employees work together to explore new ideas and approaches. However, without clear guidelines and procedures, a "go with the flow" culture can also be unpredictable, and may require strong leadership to ensure that everyone stays aligned with the organization's goals. In conclusion, understanding the culture of an organization is crucial to its success. Culture is the way business gets done, and it shapes everything from how employees collaborate to how they approach problem-solving and decision-making. It is important to recognize that there is no "correct" culture, and that what works for one organization may not work for another. However, it is also important to ensure that the culture is aligned with the organization's strategic goals, and that employees are recruited based on how well they fit with the culture. Hiring the wrong employee can spell disaster for an organization, particularly if the employee does not match the established culture. While it may be tempting to shake things up by hiring someone who is radically different from the rest of the team, this can lead to conflict and dysfunction. Instead, future employee recruitment should focus on finding candidates who are a good fit with the culture, and who share the organization's values and goals. Ultimately, a strong culture is a competitive advantage for any organization. It creates a sense of unity and purpose among employees, and can help to attract and retain top talent. By understanding and nurturing the culture of the organization, business leaders can create a thriving and successful enterprise that is built to last. Connect with me! I'm Jim Lindell of Thorsten Consulting. If your organization or association needs a speaker for a keynote or breakout session on practical business topics, please call me. In addition, if you or your team needs executive coaching or leadership development, I can help your staff reach a higher level. Please give me a call. Thank you for your time. Email: [email protected] LinkedIn: https://www.linkedin.com/in/jimlindell/ Twitter: https://twitter.com/thorlessons Saturday, March 18. 2023
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in Business Lessons, Economy, Life Lessons, Strategy - Trends
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06:33
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Unthinkable EventsIn today's rapidly changing world, "unthinkable events" has become increasingly relevant. These events are so unexpected and unpredictable that they catch us off guard and leave us scrambling to respond. Such events may be similar to black swan events or fall into the "unknown self" quadrant of the Johari Window, where we are unaware of our blind spots. Recent examples of unthinkable events include the East Palestine, Ohio train derailment, the COVID-19 pandemic, and the SVB bank foreclosure. While these events may seem unrelated, they share commonalities regarding their disruptive impact on individuals, organizations, and society. Companies, in particular, need to be prepared for a vast array of disruptions that could have similar consequences to these events. While it may be impossible to predict the specific nature of these events, companies can develop strategies and contingency plans to mitigate the impact of disruptions and minimize the risk of catastrophic consequences. One approach is to develop a culture of resilience, where organizations cultivate the ability to adapt to changing circumstances and maintain their core functions in the face of unexpected events. Resilience requires a focus on risk management and disaster preparedness and a willingness to embrace innovation and change. Another critical aspect of preparing for unthinkable events is to ensure that communication channels are in place to keep stakeholders informed and engaged. Communication channels include employees, customers, suppliers, and other stakeholders impacted by an unthinkable event. Effective communication can help to reduce confusion and anxiety and promote a sense of shared responsibility and collaboration. Companies should also invest in technology and infrastructure that can support remote work and business continuity in the event of a disruption. Items to consider are cloud-based systems, virtual meeting tools, and other technologies enabling employees to work from anywhere and stay connected with customers. Preparing for unthinkable events requires a proactive and holistic approach to risk management and disaster preparedness. Companies need to be aware of the potential risks they face and develop strategies to mitigate them while also cultivating a culture of resilience that enables them to adapt and thrive in the face of unexpected challenges. In conclusion, the East Palestine, Ohio train derailment, COVID-19 pandemic, and SVB bank closure are unthinkable events that can disrupt our lives and businesses. While we may not be able to predict the specific nature of these events, we can prepare for them by developing a culture of resilience, investing in technology and infrastructure, and maintaining effective communication channels. By taking these steps, we can reduce the impact of disruptions and ensure that our businesses can weather the storms of uncertainty and change. Connect with me! I'm Jim Lindell of Thorsten Consulting. If your organization or association needs a speaker for a keynote or breakout session on practical business topics, please call me. In addition, if you or your team needs executive coaching or leadership development, I can help your staff reach a higher level. Please give me a call. Thank you for your time. Email: [email protected] LinkedIn: https://www.linkedin.com/in/jimlindell/ Twitter: https://twitter.com/thorlessons Wednesday, March 15. 2023
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20:35
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Arguments for & against ESG as well as interesting ESG feedback from ChatGPTI want to talk to you about ChatGPT and ESG. I think ChatGPT is a phenomenal tool and will change everything we do in business today. I want to highlight a concern as I asked ChatGPT about ESG. I gave it two questions that were identical other than one word. One sentence was: argue against companies adopting ESG. And the other was: to argue for companies adopting ESG. Here is the response to the first question, argue against companies adopting ESG. " As an AI language model, It is important to present our arguments on both sides of an issue. Even if I personally believe that adopting ESG (environmental, social and governance) is beneficial for companies and society as a whole. So here are some potential arguments against companies adopting ESG. " The preceding was verbatim from ChatGPT. ChatGPT provided a nice list of arguments against adopting ESG. The first was increased costs, one of the concerns of CFOs today. Does it cost too much to follow an ESG agenda? Second, ESG policies may have a limited impact on the environment or society. The third concern was that there might be a competitive disadvantage because the competitors may not adopt ESG and incur costs or compliance issues. The fourth item was a lack of standardization. Across the globe, people are interpreting ESG in very different ways. As a result, there isn't one standard report being used, and comparisons are difficult. And finally, the risk of shareholder backlash. We've seen in our country recently where organizations promote values they believe are necessary. Yet, the consumers are not interested and say I will take my business elsewhere. Next, I asked ChatGPT to argue for companies adopting ESG. And here's how ChatGPT responded- "As an AI language model, I believe that companies should adopt ESG (environmental, social and governance) policies because it benefits both the company and society." Here are some arguments in favor of companies adopting ESG: 1. A company can improve its reputation. So, companies that follow ESG might be viewed as more responsible and ethical. 2. Companies can reduce risk. Suppose companies employ more tools and tactics to monitor the items that impact the environment, society and governance. In that case, there's a good chance that they will eliminate risks that could hurt the company. 3. Companies can increase innovation and creativity with ESG policies. 4. Attract and retain talent - younger people today are looking for companies not focused on profitability. They're looking for companies with a vision that impact areas that influence the environment, social and governance. 5. Long-term financial performance. ChatGPT states that studies have shown that companies that prioritize ESG. Tend to outperform their peers long-term, although that position has been debated. This is also why some CFOs say, "Unless we're making money off this, we really shouldn't be doing it." Both positions for and against are pretty well presented from ChatGPT. However, the concern that I have is with the bias of ChatGPT. I asked two separate questions; argue for and argue against ESG. Keep in mind at the outset, ChatGPT wrote that it was essential to present arguments on both sides of an issue, even if I believe that adopting it benefits companies and society. However, when I asked ChatGPT to argue for companies adopting ESG, it never mentioned that there were both sides to the argument. It just wrote I believe that a company should adopt ESG policies because it is beneficial. ChatGPT didn't mention anything about having two sides to the argument. What is the lesson? As we use ChatGPT, remember to question the information for potential bias. ChatGPT is revolutionizing the way we are and will be conducting business. The expansion of AI tools will be tremendous in the following months. Learn and adopt with caution. Connect with me! I'm Jim Lindell of Thorsten Consulting. If your organization or association needs a speaker for a keynote or breakout session on practical business topics, please call me. In addition, if you or your team needs executive coaching or leadership development, I can help your staff reach a higher level. Please give me a call. Thank you for your time. Email: [email protected] LinkedIn: https://www.linkedin.com/in/jimlindell/ Twitter: https://twitter.com/thorlessons Tuesday, March 14. 2023
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01:43
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What's your personality type?Understanding our personalities and the personalities of those around us can be incredibly beneficial in our personal and professional lives. It can help us communicate more effectively, improve our relationships, and even find the best careers for us. The first step in this process is discovering our personality type, and one of the best ways to do this is by taking the free personality test at https://www.humanmetrics.com/personality. The humanmetrics personality test is based on the Myers-Briggs Type Indicator (MBTI), a widely-used personality assessment tool that categorizes people into 16 different personality types. The test will give you a four-letter personality type that describes your strengths, weaknesses, and preferences by answering a series of questions about how you perceive and interact with the world around you. It's important to remember that personality types are not right or wrong; they simply are. Each personality type has its strengths and weaknesses, and understanding these can help us work on our weaknesses and leverage our strengths. Personality types can also help us understand why we may clash with certain people or why we may click with others. College-age students can use the information they gain from discovering their personality type to explore careers that may interest them. For example, if you have a personality type that values order and structure, you may be well-suited for a career in accounting or engineering. On the other hand, if you have a personality type that values creativity and innovation, you may be better suited for a career in the arts or marketing. In conclusion, discovering your personality type can be of great value to better understand yourself and others. The humanmetrics personality test is a great way to get started, and the best part is that it's completely free. So why not take the test and see what you can learn about yourself? Remember, personality types are not right or wrong; they simply are. They can help us communicate more effectively, improve our relationships, and even find the best careers for us. Connect with me! I'm Jim Lindell of Thorsten Consulting. If your organization or association needs a speaker for a keynote or breakout session on practical business topics, please call me. In addition, if you or your team needs executive coaching or leadership development, I can help your staff reach a higher level. Please give me a call. Thank you for your time. Email: [email protected] LinkedIn: https://www.linkedin.com/in/jimlindell/ Twitter: https://twitter.com/thorlessons Sunday, March 5. 2023
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in Business Lessons, Entrepreneur, Speaking, Strategy - Trends, Training
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09:46
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Business Planning RetreatLeading a successful business planning retreat can help an organization set a clear direction, establish priorities, and develop a plan to achieve its goals. Here are some steps to follow when planning and conducting a successful business planning retreat: 1. Set clear goals and objectives: Define the purpose of the retreat and what you hope to achieve. Determine the key topics to discuss and ensure they align with your overall business strategy. 2. Select the right venue: Choose a meeting venue conducive to productive and creative thinking. Ensure the space is comfortable, well-lit, and has all the amenities necessary for a successful retreat. 3. Invite the right people: Invite the key stakeholders and decision-makers who can provide valuable insights and help move the organization forward. Ensure you have a mix of perspectives, including internal and external stakeholders. 4. Develop an agenda: Develop a clear and comprehensive agenda for the retreat, including time for breaks and social activities. Make sure the agenda aligns with your goals and objectives. 5. Assign roles and responsibilities: Assign roles and responsibilities to ensure the retreat runs smoothly. Designate a facilitator who can guide the discussions and keep the group on track. 6. Provide materials and resources: Provide participants with all the necessary materials and resources, such as agendas, handouts, and writing materials. Also, ensure you can access technology and audio-visual equipment if needed. 7. Set ground rules: Establish ground rules for the retreat, such as respecting everyone's opinions, avoiding interruptions, and staying focused on the agenda. 8. Encourage participation and collaboration: Encourage participation and collaboration among all participants to foster a sense of teamwork and to generate new ideas. 9. Develop an action plan: Develop a clear action plan with specific goals and timelines to implement the decisions made during the retreat. Make sure to assign responsibilities for each action item. 10. Follow up: Follow up after the retreat to ensure that action items are being implemented and progress is made towards achieving the goals and objectives established during the retreat. Assigning pre-planning homework for attendees of a business planning retreat can help ensure that everyone comes prepared and ready to participate fully in the retreat. Here are some types of pre-planning homework that can be assigned: 1. Research: Ask attendees to research critical topics related to the retreat's goals and objectives. The analysis can include market trends, industry insights, and best practices from other organizations. 2. SWOT analysis: Request that attendees conduct a SWOT (strengths, weaknesses, opportunities, threats) analysis of the organization or a particular aspect of the business. A SWOT analysis can identify areas that need improvement and inform discussions during the retreat. 3. Pre-retreat survey: Send out a pre-retreat survey to gather feedback and input from attendees on the topics to be discussed during the retreat. A survey can help identify key priorities and ensure everyone's perspectives are heard. 4. Pre-readings: Assign pre-readings related to the retreat's topics and goals, including articles, case studies, or other relevant literature, to help attendees come prepared with a baseline understanding of the issues. 5. Goal-setting: Ask attendees to contemplate personal or team goals for the retreat. This effort can help align expectations and ensure everyone is focused on the same outcomes. 6. Reflection: Ask attendees to reflect on past successes and challenges related to the retreat's topics that can help identify areas for improvement and create worthy discussions during the retreat. By assigning pre-planning homework, you can help ensure that attendees come to the retreat well-prepared and ready to engage in productive discussions and planning sessions. An outside facilitator can be helpful when conducting business planning for several reasons: 1. Objectivity: An outside facilitator can bring an objective perspective to the planning process. They are not influenced by internal politics or biases, which can help ensure that discussions and decisions are focused on the organization's best interests. 2. Experience: An experienced facilitator has expertise in leading planning sessions and can help guide the group through the process. They can bring insights from working with other organizations and industries and can help identify best practices. 3. Focus: An outside facilitator can help keep the group focused on the agenda and goals of the planning session. They can ensure that discussions are productive and that the group stays on track. 4. Neutrality: An outside facilitator is neutral and has no stake in the organization's outcomes. They can mediate if conflicts arise and help ensure everyone's voice is heard. 5. Efficiency: An outside facilitator can help streamline the planning process and ensure that time is used effectively. They can help identify areas where the group is stuck and offer tools and techniques to move discussions forward. Overall, an outside facilitator can bring a fresh perspective, expertise, and a structured approach to the planning process. They can help ensure the organization's planning goals are achieved efficiently and effectively. Connect with me My name is Jim Lindell. I'm a CSP-certified speaking professional and an executive coach, and I have been doing both for the last couple of decades. Please contact me if your conference needs an entertaining, practical business speaker for keynotes or breakout sessions. If you'd like to see your career grow, please talk to me about being your executive coach. Email: [email protected] LinkedIn: https://www.linkedin.com/in/jimlindell/ Twitter: https://twitter.com/thorlessons
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Jim LindellJim Lindell is a National Speaker, Author, and Vistage Chair. He is motivated by helping others improve their lives and businesses.
He is President of Thorsten Consulting Group, Inc. Order Jim's book - "Controller as Business Manager". controller as business manager - jim lindell - thorsten consulting group QuicksearchArchivesCategoriesSyndicate This BlogBlog AdministrationNetworked Blogs |