Whilst the world seems to have been impressed about the letter to Richard Branson complaining about an Indian meal served on a Virgin flight - the sad thing is that complaining by itself is rather weak - it's a winge.
A shorter letter and a clear proposal of the compensation that was required would have been better. Something well within reason and easy for Virgin. Cheap for the airline to do and valuable for the complainant to receive.
So ... have a think - what would you propose if you were not happy with your in-flight meal? It's very easy.
Thursday, January 29, 2009
Tuesday, January 20, 2009
Cut the Crap - Get Organised - Get Ready for Action
As we go into the dark days of the winter and this recession, we batten down the hatches to weather the storm and take stock about who and what really matters.
This is a good time to look around, contemplate strengths and weaknesses, and prepare for the challenge ahead and to evaluate one’s resources to take advantage. This is the time when you will find out whether you really have leaders within your ranks – really have talent. Anyone (almost) can play a strong hand if you are holding all the Aces, but it needs a lot of skill, experience and practice to play a weak one.
So, who around you has what it takes? Have you looked after them during the good times so that they will stay with you and be ready to cope with the tough ones ahead? Who are the ones with real talent who need to be better equipped to succeed and prepared to take on more responsibility? Who is ready to take on your challenges?
Now is the time to “cut the crap” and focus on development that really makes a difference and will give a real return; training and coaching that will draw out the talent, build the confidence, excite, energise and motivate.
Profit from adversity – be courageous – use the time – build the team.
This is a good time to look around, contemplate strengths and weaknesses, and prepare for the challenge ahead and to evaluate one’s resources to take advantage. This is the time when you will find out whether you really have leaders within your ranks – really have talent. Anyone (almost) can play a strong hand if you are holding all the Aces, but it needs a lot of skill, experience and practice to play a weak one.
So, who around you has what it takes? Have you looked after them during the good times so that they will stay with you and be ready to cope with the tough ones ahead? Who are the ones with real talent who need to be better equipped to succeed and prepared to take on more responsibility? Who is ready to take on your challenges?
Now is the time to “cut the crap” and focus on development that really makes a difference and will give a real return; training and coaching that will draw out the talent, build the confidence, excite, energise and motivate.
Profit from adversity – be courageous – use the time – build the team.
Wednesday, October 29, 2008
Business is about People – Remember?
The turmoil we witness in the markets every day raises the question: What is it we are trying to achieve through all this chaotic behaviour? Is there an intended destination to all this or are we caught on an endless M25, ever going faster chasing our tails into destruction.
It appears that we have forgotten what our objectives are: as individuals, families, communities, businesses, corporations, governments – where are we going on this roller-coaster path, and is it where we had planned to go? There seems to be a confusion between money as an objective (an end in itself) rather than a strategic tool. Money and wealth creation should be for building more secure, safe lives followed by an enhancement of the quality of life. However, it seems that it is a goal in itself, a selfish pursuit with no genuine purpose.
One thing that seems to be emerging is that in the pursuit of making a fast buck, we have handed a high level of trading decisions over to the machine – the computer. This appears to have caused some of the pain and a lot of the lack of control. Computers are supposed to serve the needs of people, and their control needs to be under tight control. A further confusion between tactical and strategic thinking. I read with interest in the Financial Times:
“Investors are seeking a human touch amid the turmoil, moving a rising proportion of New York Stock Exchange trades through people rather than computers”. FT – 29/10
We are losing our faith in technology, which has led us to unintended outcomes at too fast a pace. To return to the fundamentals of security and safety in this volatile world we have to understand ourselves and our needs better. The reviving call to reconnect with other people is because we have lost confidence in the computer driven systems, and need to reconnect with something / somebody to trust. Trust and Confidence.
But can we trust people? An interesting quote from Robert Peston’s BBC Blog this morning:
"Some financial investors spare no thought for the people whose jobs they destroy. They remain anonymous, have no face, fall like a plague of locusts over our companies, devour everything, then fly on to the next one." Deputy Chancellor of Germany, Franz Munterfering.
To learn how to trust and who to trust are key qualities of the expert negotiator; something they do face to face - reading all the signs and signals from visual contact. These are the professionals who constantly clarify objective, challenge strategies and investigate all their tactical options.
And negotiating is about people – remember!
It appears that we have forgotten what our objectives are: as individuals, families, communities, businesses, corporations, governments – where are we going on this roller-coaster path, and is it where we had planned to go? There seems to be a confusion between money as an objective (an end in itself) rather than a strategic tool. Money and wealth creation should be for building more secure, safe lives followed by an enhancement of the quality of life. However, it seems that it is a goal in itself, a selfish pursuit with no genuine purpose.
One thing that seems to be emerging is that in the pursuit of making a fast buck, we have handed a high level of trading decisions over to the machine – the computer. This appears to have caused some of the pain and a lot of the lack of control. Computers are supposed to serve the needs of people, and their control needs to be under tight control. A further confusion between tactical and strategic thinking. I read with interest in the Financial Times:
“Investors are seeking a human touch amid the turmoil, moving a rising proportion of New York Stock Exchange trades through people rather than computers”. FT – 29/10
We are losing our faith in technology, which has led us to unintended outcomes at too fast a pace. To return to the fundamentals of security and safety in this volatile world we have to understand ourselves and our needs better. The reviving call to reconnect with other people is because we have lost confidence in the computer driven systems, and need to reconnect with something / somebody to trust. Trust and Confidence.
But can we trust people? An interesting quote from Robert Peston’s BBC Blog this morning:
"Some financial investors spare no thought for the people whose jobs they destroy. They remain anonymous, have no face, fall like a plague of locusts over our companies, devour everything, then fly on to the next one." Deputy Chancellor of Germany, Franz Munterfering.
To learn how to trust and who to trust are key qualities of the expert negotiator; something they do face to face - reading all the signs and signals from visual contact. These are the professionals who constantly clarify objective, challenge strategies and investigate all their tactical options.
And negotiating is about people – remember!
Tuesday, October 14, 2008
The Power of Proposal
The Power of Proposal
Gordon Brown is benefitting from being the proposer of the bail out solution which has become the framework for others to follow. It is a very good example of how a realistic proposal will dominate, especially in a multi lateral environment when a solution is needed very quickly.
The problem with the idea behind the initial US option was that the White House had not proposed a “realistic” proposition in the political sense, which is why it did not have the support or momentum from Congress. By the time the UK had finished its “behind closed doors” discussions between the Bank of England and the FSA (along with other private discussions), the World was desperate for an idea that could be clung to as alternative to disaster. The UK proposal worked politically and financially as a start.
The slight hiccoughs from Germany, and the problems in Iceland and the difficult Irish suggestion (dangerously expensive and unilateral for others to follow) helped the UK proposal be the “only game in town”.
The proposal was powerful because it was conditional, addressed the immediate issues on most sides, provided safeguards and had the pressure of urgency on its side. It was deemed to be essential to stabilise the markets.
The alternative would have been an unsightly public competition between western leaders over who would be the “one” to save the world. The arguments would have been partisan and divisive.
Having established this workable proposal, we now watch the modifying and packaging of the core elements into variations which better suit the different national markets. The next serious problem will be how disciplined parties will be in honouring these agreements.
Gordon Brown is benefitting from being the proposer of the bail out solution which has become the framework for others to follow. It is a very good example of how a realistic proposal will dominate, especially in a multi lateral environment when a solution is needed very quickly.
The problem with the idea behind the initial US option was that the White House had not proposed a “realistic” proposition in the political sense, which is why it did not have the support or momentum from Congress. By the time the UK had finished its “behind closed doors” discussions between the Bank of England and the FSA (along with other private discussions), the World was desperate for an idea that could be clung to as alternative to disaster. The UK proposal worked politically and financially as a start.
The slight hiccoughs from Germany, and the problems in Iceland and the difficult Irish suggestion (dangerously expensive and unilateral for others to follow) helped the UK proposal be the “only game in town”.
The proposal was powerful because it was conditional, addressed the immediate issues on most sides, provided safeguards and had the pressure of urgency on its side. It was deemed to be essential to stabilise the markets.
The alternative would have been an unsightly public competition between western leaders over who would be the “one” to save the world. The arguments would have been partisan and divisive.
Having established this workable proposal, we now watch the modifying and packaging of the core elements into variations which better suit the different national markets. The next serious problem will be how disciplined parties will be in honouring these agreements.
Friday, October 10, 2008
You can only Spend it Once (WIGIG)
One of the fundamental rules of negotiating is to ensure that you know the real value of your concession before offering it conditionally. So before making a proposal, it is wise to know all the values in play, know all the priorities that need to be addressed, and sensitive to those of one's partners. Additionally, know the level of risk. If it can go wrong it will! If you are going to make a generous offer, then make sure that the conditions match it.
The problem in today's highly dangerous climate is that there are so many “unknowns” to consider; so much that we know that we don't know - that it is high risk to throw one's money around without a clear grasp of how complexity works and what might be the consequences of a hasty gesture. You only get to spend your money once – spend it wisely – but only when you know all the risks and have a very clear – crystal clear – view of the impact of the investment. Will it really have the affect you anticipate? Does the market share your opinion and your analysis?
This is no time for grand gestures. There is nothing new about today's problems, it is just a bigger mess than usual.
The problem in today's highly dangerous climate is that there are so many “unknowns” to consider; so much that we know that we don't know - that it is high risk to throw one's money around without a clear grasp of how complexity works and what might be the consequences of a hasty gesture. You only get to spend your money once – spend it wisely – but only when you know all the risks and have a very clear – crystal clear – view of the impact of the investment. Will it really have the affect you anticipate? Does the market share your opinion and your analysis?
This is no time for grand gestures. There is nothing new about today's problems, it is just a bigger mess than usual.
Wednesday, October 08, 2008
Now is the Time to Learn How to Negotiate
Never has there been a greater need to be able to Negotiate - Properly
In many ways the current global economic crisis has been down to very poor and undisciplined deal making. The closing of a deal has been more important than the value of the deal when fully implemented (if indeed it has been). Incentives have been targeted at the wrong end of a deal – the beginning, not the end (when the whole deal’s value has been realised).
Over 30 years of analysing negotiating behaviour, I have witnessed a steady decline in honesty, diligence, discipline and integrity. So much so, that the present generation may not even know what any of this means. Certainly lying, being economic with the truth, distorting and reneging on agreed terms have been rife.
So, as part of the global recovery, there needs to be a step back to understanding the fundamentals of making profitable and sustainable deals through proper professional negotiating. Followed by negotiating with integrity – first in our own country, through Europe and beyond. Trust comes from honouring our commitments – the core of sustainable relationships, the heart of building real community, security and wealth.
We need proper and sound:
• Preparation – Objectives and soundly thought through strategy options
• Communications – how to listen, understand signals, explain, structure expectations, question, read body language, understand.
• Proposal making – how to structure, when to make them, how to use them.
• Countering – how to respond to proposals, effective analysis, understand all your options, how to select the most appropriate responses, reshape, up / down trade, blocking techniques etc.
• Closing – When to, How to, closing disciplines, how to recognise when the other party wants to close, making sure both sides fully understand what they are agreeing to.
It is not just about understanding the process, or knowing what skills are required or thinking about negotiating style or coming up with amazing strategies and tactics – it is about practice, practice practice and developing full control of all the above and more.
When are you going to start to be a real negotiator?
In many ways the current global economic crisis has been down to very poor and undisciplined deal making. The closing of a deal has been more important than the value of the deal when fully implemented (if indeed it has been). Incentives have been targeted at the wrong end of a deal – the beginning, not the end (when the whole deal’s value has been realised).
Over 30 years of analysing negotiating behaviour, I have witnessed a steady decline in honesty, diligence, discipline and integrity. So much so, that the present generation may not even know what any of this means. Certainly lying, being economic with the truth, distorting and reneging on agreed terms have been rife.
So, as part of the global recovery, there needs to be a step back to understanding the fundamentals of making profitable and sustainable deals through proper professional negotiating. Followed by negotiating with integrity – first in our own country, through Europe and beyond. Trust comes from honouring our commitments – the core of sustainable relationships, the heart of building real community, security and wealth.
We need proper and sound:
• Preparation – Objectives and soundly thought through strategy options
• Communications – how to listen, understand signals, explain, structure expectations, question, read body language, understand.
• Proposal making – how to structure, when to make them, how to use them.
• Countering – how to respond to proposals, effective analysis, understand all your options, how to select the most appropriate responses, reshape, up / down trade, blocking techniques etc.
• Closing – When to, How to, closing disciplines, how to recognise when the other party wants to close, making sure both sides fully understand what they are agreeing to.
It is not just about understanding the process, or knowing what skills are required or thinking about negotiating style or coming up with amazing strategies and tactics – it is about practice, practice practice and developing full control of all the above and more.
When are you going to start to be a real negotiator?
Tuesday, October 07, 2008
Strategy defeats Objective.
“We will do whatever is necessary?”
The objective of these words is probably to calm the worries of all of us with deposits in banks. It is also to be heard as a sign that someone is on the case - appearing to be in action. The reality of the phrase is to signal that there is not a clear idea of what needs to be done at this point in time. Blanket phrases often deliver the opposite message to the one intended. Instead of confidence, it develops worry. Instead of calm it generates genuine concern. It demonstrates that something has to be done, but not sure what. Worse, there is a message of knee jerk responses – reactive not proactive – not thought through – waiting for someone else to take a lead.
But the problem of strategy clouding objective is one reason why the current economic situation has developed. The Banks wanted to grow their profits, the Directors of Banks wanted to see their share prices rise and their own ability to earn bonuses be certain. However, the real objective of a bank is to offer a secure and safe deposit for other people’s money. Allow the bank to use it in a responsible way in return for reasonable interest and security. The covenant between the banks and the community they serve is one of security – it appears they have forgotten this, blinded by greed.
The opportunity for considerable profit from financial instruments developed by mathematical wiz kids proved too much. This is the very old – age old – problem of being deal struck and greed struck. The salesman already spending his bonus before the deal is done. The deal being done for personal gain – never mind implementation and delivery (that’s someone else’s problem). No management control, no focus on critical objectives (security) and a belief that someone will bail me out. No responsibility – no integrity. "I was only following orders."
The objective of these words is probably to calm the worries of all of us with deposits in banks. It is also to be heard as a sign that someone is on the case - appearing to be in action. The reality of the phrase is to signal that there is not a clear idea of what needs to be done at this point in time. Blanket phrases often deliver the opposite message to the one intended. Instead of confidence, it develops worry. Instead of calm it generates genuine concern. It demonstrates that something has to be done, but not sure what. Worse, there is a message of knee jerk responses – reactive not proactive – not thought through – waiting for someone else to take a lead.
But the problem of strategy clouding objective is one reason why the current economic situation has developed. The Banks wanted to grow their profits, the Directors of Banks wanted to see their share prices rise and their own ability to earn bonuses be certain. However, the real objective of a bank is to offer a secure and safe deposit for other people’s money. Allow the bank to use it in a responsible way in return for reasonable interest and security. The covenant between the banks and the community they serve is one of security – it appears they have forgotten this, blinded by greed.
The opportunity for considerable profit from financial instruments developed by mathematical wiz kids proved too much. This is the very old – age old – problem of being deal struck and greed struck. The salesman already spending his bonus before the deal is done. The deal being done for personal gain – never mind implementation and delivery (that’s someone else’s problem). No management control, no focus on critical objectives (security) and a belief that someone will bail me out. No responsibility – no integrity. "I was only following orders."
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