Thursday, February 11, 2010

Open Book Management Systems-It's benifits and drawbacks..

in which everything is revealed to employees and there are no secrets.
Open-book management involves not only revealing a company's
full financial information to its employees but also making
transparent all of the workings of the company.
Open-book management has been viewed as enabling the
empowerment and involvement of the workforce,
increasing employee motivation and organizational efficiency.

Management are always interested to retrain the best employees
and retention is difficult.

Motivation can never be defined numerically,
and can be consistent. The levels may swing day to
day,management Gurus have talked about Self-Motivation,
but for an "Cerebral Animals" we the homosepians requires
a different and an unique type of motivation.

In any "Knowledge Oriented Job" one must have a different
outlook and prospective regarding Motivation.
Motivating the knowledge workers is the most difficult
task and with all my experiences in the knowledge industry
I have found that they are of a different breed of people.

Transparency can work wonders for the knowledge workers,
they can assess them with their figures.
ESOP has worked wonderfully and the sense of competition
not within inside but outside can happen.

Please Play the Video to get a deeper
understanding of Open Book Management.

Courtesy: The Wall Street Journal.

Thursday, February 4, 2010

Setting the Right Stretch Targets

Target setting is a very delicate task.
If you cannot measure you cannot manage.

Late .Prof. Peter Drucker has said in one
of his interviews that "measurement and management:
if you want to manage you must measure".
Without accurate measurement, management's effective
and efficiency can not be controlled.

Robert Kaplan and David Norton's BCS exclusively
talks about this .

The destination statement of BSC has made the strategic
agility. Strategy has to change on a continuous basis
and targets can be stretched in order to achieve
greater goals.

An interesting post is as follows with Stretched targets.

Setting the Right Stretch Targets

The Best HR Manager In The World.

Success of retaining quality people is again
becoming a critical question as we are slowly
coming out recession.

The perennial problem of management will be
coming back again-retaining quality people.

David Russo, who was Head of HR for the famous
SAS Institute for over 17 years, is frequently
quoted saying: “Every night at 6 o’clock, all
our assets walk out the door…We just hope they
come back at nine the next morning.."

Mr. Narayan Murthy, the Mentor of Infosys
believed in the same mantras.

I was going through the blog of Apolinaras Sinkevicius.
I found he has categorically mentioned
that these common factors are visible in the
successful firms which can retain their
talented employees.

•Open-book management says to employees: “we did a good job hiring you, we know you will understand things, and if you don’t, you will ask good questions.”

•Dignity. From the office cleaner to the CEO – everyone should
be treated like the CEO of their job.

•Trust shows people that the company understands honest mistakes are made.
They would rather have you do your best and try, rather than
“stay under the radar” and exert the least amount of effort to
not attract attention.

•Great leadership greatly reduces the need for management.
Leadership inspires people and inspiration is important to loyalty.

•An occasional office party does not create belonging. People must
feel they are part of the team, that they matter, and that company
knows they are not just a line item in the budget.

If you work for a great company that gets it, please share the
ingredients of their “recipe” in the comments section.

The Nuts & Bolts Of Success Are In FAILURES.

This is a mind blowing video I came across,
lot of things one can learn from this Video.

The general human tendency is not to come out
from the COMFORT ZONE just to avoid failure.

But the real excellence will not come without

To CHANGE you have to take chances.
When you take a chance you fail.
You are afraid of your failure.
You never succeed.
One day you succeed by overcoming your FAILURES.

This is one of the most inspirational video, i've
ever come across.