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Speed Reading and Honda

Came across this interesting TV ad by, Honda.

The TV ad uses a speed reading technique that I read about some time ago. The technique forces us to read at a speed that is faster than our internal dialogue. This is important because, we typically read as fast as we speak and by increasing the speed of the text flashing, we’re focussing on reading the text faster than our internal dialogue, to the extent where our internal dialogue can’t keep up. What’s further interesting is that, this doesn’t necessarily affect our ability to absorb information, so, despite reading the text at a faster speed, this doesn’t affect the integrity of our comprehension of the text and therefore, ultimately, we can absorb more information in shorter periods of time.

You of course have to read a speed that is appropriate to your comprehension. Don’t expect to ramp up the speed to 1000 wpm immediately; the more you focus on improving your speed reading skill however, the more you can work towards increasing your WPM comprehension.

Here is a site where you can input your own text to generate text in this format.

Honda certainly make some good adverts. Here’s another I felt I had to post about!

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Structured Business Problem Solving

Imagine this, your company’s profits have taken a hit from last year and you don’t know why or how to respond. This is a problem that you should be solving immediately, to ensure you know why and so that it doesn’t happen again.
Where do you look first? Is there more competition in the market? Is there an economic downturn or is it a customer confidence issue? It could be any of those things, but where to start?

Taking a structured approach to the problem here is key. This is to ensure we get to a root cause that is the significant driver of the problem, so we can determine the most value adding response as quickly as possible, based on good rationale to solve the problem.

Drivers: The secret here is to understand what drivers are influencing profit, then the drivers of those drivers, then the drivers of those drivers and so on, until you get to your root cause.

Usually a problem needing to be solved will have a chain or sub components that in turn cause an effect on the problem. It’s really about taking a logical approach to the significant drivers of the problem. Based on our profit problem, we know that profit= revenue – costs. Because of the make up, we know that these are the two key drivers significantly influencing our profit.

By comparing these two drivers against last year’s performance, we can understand which component part needs to be further looked in to and where the root cause may lie.
For example, if we know that revenue remained relatively static this year compared to last and that costs actually went up, we can initially deduct that the root cause may lie within the costs space.

With this valuable information, we can further break the costs down in to its sub drivers to understand why costs may have changed. This could be where you review fixed vs variable costs, which could include your office costs, staff costs or variable, which could include the costs of fluctuating things you may be buying based on sales volume or some other variable that changes that in turn influences how much you buy of something e.g. parts, ingredients, materials etc.
By understanding the drivers of each component part of profit and beyond, we will ultimately get to the root cause of the problem and for this example, it may be that variable costs may have gone up as a result of a specific supplier considerably increasing costs relative to last year.
You see, It’s just a matter of repeating this until you get to the root cause.

The information you come away with will usually influence or form the basis of a strategic decision, which for example, could be to find another supplier, sourcing products from a cheaper manufacturer or renegotiating existing agreements. Whatever the solution, it will be the right one, based on a logical, rationale and methodical approach, that will ultimately solve your business problem.

By completing analysis of the problem in this way, we get to our root cause much more efficiently, as we are in the first instance, tackling the drivers that directly influence the problem. Yes it may be the problem may be something else not in the profit calculation for example, but that’s secondary to the drivers directly influencing profit and therefore, should be tackled later.

This structured approach is nothing new and is typically used by consultants as a starting point. Naturally, this may lead you down a path that is heavily focussed on revenue and costs and this may not always be where the problem lies, but it is certainly a good starting point and 8/10 times solve the bulk if not all of the problem – 80/20 thinking.

So next time you have a problem, the first question you should ask is, what are the most significant influencing drivers of the performance of the problem? and what are the sub drivers to that driver? And so on. For us, it was revenue and costs and then fixed/variable costs, resulting in a supplier disproportionately increasing costs over last year, but next time it could be the problem of a declining sales volume of a certain product sold, where the most significant influencing drivers may be other options available to the customer on the market, or a cheaper alternative and therefore, you would need to respond to that, which may result in an analysis piece on your value chain to create or manage that competitive advantage or even review the value offered by your product in the current market and update the product or reconsider the price accordingly.

In business analysis, you may have heard of the five why technique, where some say, “it usually takes five why’s to get to a root cause” – this is inefficient and does not offer a wider understanding of the business problem and usually results in asking why of the variables that need not be questioned. Breaking the problem in to component parts or their drivers and then repeating this process offers efficiency, context, technical understanding of the problem and proper targeting of the root cause.

Problems are easy and there are a range of frameworks that can be used to structure thinking and problem solving, which I’ll talk about in future posts. Remember however that this is something that anyone can do and by taking a structured approach based on drivers and sub drivers will usually yield in (a) the correct root cause; (b) the problem being solved effectively and (c) result in good insight and data to base strategic decisions on.

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Be Comfortable With Yourself

Who doesn’t love kids for their imagination, their confidence, their sometimes ‘free-world’ attitude. This video inspires us to be more like them; to be comfortable with ourselves. There’s a lot we can learn from these little people.

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Investment Decision? Easy.

You may be in a situation where you need to make an investment decision. You’ll already know that one of the worst possible ideas you can have is to keep it in a bank; you’ll see from a previous post here, that keeping your money in the bank will probably leave you worse-off.
With this spare money, you, as a savvy money person, in theory should be looking for opportunities to grow your money to make your money grow; this could either be to gather a return 40 years down the line, or to gather a return 2 years down the line. In any event, the ultimate objective is to grow money and make it work for you, resulting in the creation of value. The opposite is worse-off by not using it properly and being subject to forces like inflation and interest rates.

I must start with a disclaimer that most investment opportunities come with risk. The underlying principle of risk is that the more risk you are asked to take, the more you should be rewarded for it; that’s why Government bonds are so low yielding – this is mainly because of their low-risk nature, relative to a business deal or stock opportunity. Risk even comes with keeping money in your bank, but the low return on your money suggests that a bank is also low risk. This is a good article that describes the risk-reward relationship in more detail. It is to be noted that everything comes with risk and in this article, I assume you are assessing risk relative to your risk appetite as required. If you’re not comfortable with an opportunity and it doesn’t “feel right”, then it’s too risky for you – simple!

So the three things to take into consideration when considering an investment opportunity are (in this order):

1. Return on Capital Employed
or “Return on Employed Capital”; “Return on Invested Capital”; “Return on Capital Invested”
The ROCE measure tells us what the percentage profit return is on the money we invest is i.e. the amount of profit a person makes as a percentage of their total money invested.
This is probably the most widely used measure used to determine an opportunity’s profitability. It takes in to consideration the income generated by the opportunity relative to the amount of money that is to be invested and presents this as a number in percentage terms.

What’s also important is that it is a percentage based measure; this allows us to compare the ROCE with other opportunities to see which is more profitable, irrespective of opportunity figures or size of investment. This is useful in the event you have two opportunities and don’t know which to invest in.

Ensure this figure beats your bank interest rate and inflation where possible. The higher this figure is, the better.

2. Time Value of Money
or “TVOM”
Okay, so with your ROCE measures in your hand from two opportunities (#1 & #2) for example, it’s now important to know how long it will take for your return from each opportunity to materialise. This is important because although ‘opportunity #1’ may offer an ROCE of 45% and ‘opportunity #2’, 30%, the time difference between these two opportunities may influence the investment decision.
Fathom this: ‘Opportunity #1’ will give you your initial investment + 45% return in 30 years and ‘opportunity #2’ a 30% ROCE in 10 years. Naturally, based on a quick back of envelope calculation, most people would go for ‘opportunity #2’ otherwise the investor may be waiting an extra 20 years for a further 15% return! Furthermore, if you break it down to a yearly basis, it would suggest ‘opportunity #2’ is more profitable across the project term, despite the lower ROCE! – this is why time period is important.
Anyway the real reason the measure of how long the opportunities will take to materialise a return is important is because (a) the longer it’s taking to get your money back, the more opportunities you may be missing to generate either an equal or higher return. Secondly, (b) as time progresses, the value of each pound tied up in both your initial investment and anticipated return is uncertain. The value of the pound may fluctuate and worst case, be worth less in the future than today – think of quantitative easing or inflation and these diminishing the value of the currency, therefore rendering that same pound less valuable in the future, not being able to buy the same amount of things as it can today. So the quicker the return, the better, because you can use money in your hands today, based on todays value to invest to either generate more money or buy more things instead of tomorrow’s uncertain value.

3. Opportunity Costs
And lastly, the opportunity cost. When investing in something, you’re tying money up in to something that you won’t have access to for a certain period of time, therefore where opportunities arise in that period and where the money is tied up, you won’t be able to capitalise on them because you don’t have the funds available, because they’re tied up! Or invested. So on this basis, it is always good practice to understand that, by investing in one of the two opportunities presented, what other opportunities you may be missing out on as a result. For example another opportunity, ‘opportunity #3’ for instance could be a lower returning opportunity that comes with less risk that might work in line with your investment objectives or risk appetite. It could even be similar return, but in a different project that you may know more about. In simple terms, it’s the consideration of any other opportunities that you will miss out on because the money is tied up elsewhere.

There are other things that could be taken in to consideration e.g. if the return is fixed or compound based or ensuring the level of reward is proportionate to the level of risk, but I think the above three measures enable any lay person to make a good, considered financial decision, enabling your money to make you richer.

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You Need an Attitude Like This

Now this is what you call a great attitude. This young american football player brings some serious motivational speak to his interview, blowing away the two presenters, leaving us all motivated.

“Go meet my Mom and you’ll know who I am…”:

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The Balanced Scorecard is Kinda Big Headed

So, you might have guessed it, but I really like the Balanced Scorecard as a strategic performance management tool. It makes a lot of sense to me, but I would add one more thing to it and that would be to add another perspective called, ‘External Environment’. The question the perspective would ask the Manager here is, “In order to be successful, what external forces do we need to respond to?”

The BSC generally takes a holistic approach to strategic performance management, but the it’s all very inwards looking. I get it; we’re monitoring internal performance. But that’s working with the assumption that internal forces are the only ones that matter and we all know that, that is wrong.

What do you think? It was just a thought that came in to my head.

Read more at my new Balanced Scorecard Information Hub here: www.what-is-balanced-scorecard.com. I’ll be updating and adding loads more information as time goes on, so hopefully this will be a great resource to all those interested in the Balanced Scorecard.

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I’m Busy.

We all know that one person who is always busy, who when reports back, has nothing much to talk about what they were busy doing. So what were they doing while they were busy all that time?! They were busy… being busy — for the sake of being busy.

That’s not being busy. Being busy is when you’re doing an activity or task that adds value to you or the people around you in one way or another.

Being smart or “proper busy” is being busy working on the right things, that create value, instead of the wrong things, that don’t. If you are busy working on things that don’t create any value for you or the people around you, those tasks or activities, in simple terms are, a waste of time, therefore, do not do them. Either delete them or delegate them; just you don’t do them.

Spend your time on value-adding activities or tasks, that will help you in buying that house, securing that job, starting that business or whatever else. Do not ever come away from a task not having either (a) learned something or (b) created any value. If you come away not having achieved any of these two things, then you have just wasted an amount of your finite time on this planet for no reason, that you will never, ever be able to get back, ever.

There is an opportunity cost in all of this; if you’re spending your time being busy on something that doesn’t create value for you or the people around you, you’re losing the opportunity to do something that does and when it does come around for you to do something that does create value, you’re always a step behind because you initially wasted your time! So don’t make the bad decision of doing something that doesn’t give you any value.

Fair enough, we all need a bit of down time, to watch the odd cat video, but that’s not being busy, that’s relaxing.

Don’t be busy being busy. 

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DOWNLOAD: How to Better Manage Your Business Finances and Make Better Decisions

The better management and review of your sales and costs data can be a powerful way for you to gain unique insight in to your business, to help you in making better financial and strategic decisions on maximising profit.

This unique information can give you knowledge on if whether your current and historical decisions are moving your business towards your ultimate business objectives, such as increasing profit by x%, or reducing costs. This real-time information on your financial position will help you in making better future decisions that will support you in meeting your business objectives.

Controlling risk is key and that is exactly what this simple log I have created helps you to do. It does this by recording every sale, with associated details and every cost/expense with associated details. It then uses the simple formula as below to calculate your gross profit. 

  • Profit = Revenue – Costs

Your Gross Profit is outlined in the Sales tab and incorporates sales, costs and forecasted costs.

It’s an editable Excel spreadsheet and you are able to add or delete columns as you wish, but if you think the log needs more, then drop me a message. I’m continuously reviewing my posts and would be very pleased if you did this.

I can tell you with confidence that this system has helped me to better manage my business, by equipping me with the information in an accessible format that is functional, instead of my old folder full of receipts and invoices, that I had to search through and manage manually, which was a serious headache; you probably know the feeling. By treating this log as a live document, keeping it regularly up-to-date, some of the reasons it has come in handy are as follows:

  1. Real-time Information on how much my profit is relative to my sales and costs
  2. When it comes to completing my Tax Return, I don’t have to dig out all of my receipts at the end of the year and struggle to read them through the degradation of quality of my receipts.
  3. I also know that for every transaction listed in the calculator, I will either have or not have a corresponding receipt.
  4. It allows me to search through my transactions i.e. I don’t have to manually search through my receipt file for a transaction – I can search by any field of a record.
  5. It acts as a reference point for future expenses; If I want to go back to remember how much I spent on a drill in 2009 for example, I can do this very easily by using the CTRL+F search functionality.
  6. It records all details related to all transactions, with notes. If I have something I want to remember later on, I can simply write it in the notes section. I will also have information on how the customer paid, what date they paid and more.
  7. I can see who my main customers are. By using the sort functionality in the spreadsheets, I can sort by customer and with a simple calculation, work out their average spend with me.
  8. It helps me to model scenarios – I sometimes put it sales figures that I would like to achieve and see how this affects my profit; I do the same for costs too.

The log helps me in making strategic decisions ranging from reducing my spend on expenses or giving me important information on who my main customers are, to allow me to concentrate on them; we all know the 80/20 rule, right? It gives me knowledge on performance and what services of mine are most popular; this information allows me to develop ancillary services that relate to the popular services. 

It’s best to use this log as a live document you keep up-to-date on a regular basis. It may takes couple of uses to get used to inputting data, but once you’re in the flow of things, you won’t be able to live without it.

You can download it from here.

Take some time in getting to know the spreadsheet before using it. There are some example entries in the spreadsheet, which you can delete. 

Have fun in managing a better business.

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Leasing Might be a Problem

An interesting video that talks about investing the monthly payments that might be spent on leasing a car. Essentially outlining the idea behind compound interest. 

Only if they taught this stuff in school.

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Gathering Stakeholder Perspectives for Analysis

CATWOE

Ever wished there was a tool or framework that would help you to gather details on project stakeholders thoughts and perspectives on where a project or system should go in terms or direction or where it should be focused? Well, here’s some good news; there is one; it’s called the CATWOE framework. ‘CATWOE’ is a good methodology/framework to help get a good understanding on what peoples priorities, values, opinions, beliefs are on a system change, addition or closure. The framework frames their perspective, who, from their perspective, the customer is, owner is and who should be involved. This information comes in handy when reviewing and analysing what kind of need a system should fulfill – you will have detailed information on stakeholders thinking behind the project and its objectives.

The CATWOE methodology was developed by Peter Checkland and was a part of his Soft Systems research; a research study that seems to have been going on for a long time, trying to deal with and manage issues and problems that may lack proper, formal problem definition.

Findings from the analysis is typically used to synthesise with findings from other stakeholders or gather the needs of the key stakeholder that are responsible for setting the objectives of the system.

The framework is a good one and equips you with the tools to gain a good understanding on why a stakeholder of a potential system might want it a certain way and why another may want it another way. CATWOE will also give you good understanding of where the general consensus lies for the system; where the conflicts are; where overlapping occurs and more. The ‘CATWOE’ acronym is as follows:

  • Customer
  • Actor(s)
  • Transformation
  • World View
  • Owner
  • Environment

NOTE: The reason it is presented as ‘CATWOE’ is so it is pronounceable. The proper format of the framework is as below. This doesn’t necessarily mean you have to do it in this way; you can do it however you want! This methodology is a guideline because it is simply, logical. 

  1. World View
    • Here is where you ask the stakeholder why the new system is needed or why it should be changed; you could ask questions like; ‘in your opinion, why…”; “what made you come to that conclusion…”.
    • It is important to remain tactful, a good listener and a good listener at this point; as the more information you have, the better off you are.
    • An answer might be something as simple as, ‘market research has shown there’s a growing demand for plimsole type footwear at cheap prices’
  2. Transformation
    • Transformation is concerned with what process is to be transformed – changed or created.
    • This would typically be in response to the world view and thus comes consecutively
    • Could be something as simple as, ‘sell plimsole type footwear at cheap prices’
  3. Customer
    • Who is the customer that is affected by the process or system change?
    • In the context of our scenario, it would be a consumer wanting to buy plimsole type footwear at cheap prices
    • There may be scope to go in to further detail that might incorporate any analysis the stakeholder has done related to the market
  4. Actor(s)
    • ‘Actor’ is concerned with who will be involved in the process and who will perform the transformation
    • This cold be someone along the lines of in-house footwear designers, sales staff, marketing staff and store managers
  5. Owner
    • Who has authority to close this bad mama jama system?
    • Typically the commissioning authority; project board or board of directors
    • If the owner of the system is the retail department; the retail director may have authority to further change, stop or close down the system
  6. Environment
    • What’s the environment like in which the business system operates? 
    • A good framework to use for this is ‘PESTLE‘, which looks at the macro-economic forces at play, that may potentially have an impact on your system
    • It may even be worth considering some of the internal business processes related to system implementation; items related to the scope of actual implementation, constraints of doing so, any assumptions that are made and what risks there may be. A good framework for this is the ‘BOSCARD‘ framework – the ‘B’ stands for background for a little context; the ‘O’ stands for objective; the objective in this context would be to implement the new system and ‘D’ is deliverables.

So this exercise is what one would typically conduct with project related stakeholders, in order to gather information on where they think the system should go in terms of direction and focus. There is no reason why this framework cannot be used informally. I use it a lot in my day-to-day life when trying to understand reasoning behind decisions.

The CATWOE analysis can then be translated in to a business activity model (BAM), which is a conceptual model of the system as envisaged or imagined by the stakeholder, that was interviewed. You will notice that, for the most part, the CATWOE analysis is simply common sense. You probably already ask the questions and consider the environment etc. All this framework does is add a little structure to that process. Have fun.

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Balanced Scorecard In Detail

So, in this post, we will be expanding on one of my previous posts on the Balanced Scorecard.

bsc

You will remember that there are four scorecards.
What you might not remember is that there are four headings under each scorecards, which help you to correctly frame what you are trying to achieve; they are:

  • Objectives

  • Measures

  • Targets

  • Initiatives

Now these headings are useful because they help you to correctly structure items within the scorecard, instead of leaving it as some abstract, arbitrary vision, with no real way to track its performance. So for example, if you were reviewing a scorecard and adding an objective, you would need the following information:

An Objective:
This is the objective that wants to be achieved by the company, division or person that would be in line with overall company objectives or life plan.

A Measure:
The measurements that would be used to measure the progress of achievement to the new objective.

A Target:
The targets you want to achieve e.g. +3% within three years. These targets can be either quantitative or qualitative, but must be measurable.

An Initiatives:
The actions to be initiated to achieve the objectives and related targets.

An example of the above is:

Objective:
Achieve 5% growth in sales over the next three years

Measures:
Percentage increase in Turnover

Targets:
Year 1: 1% Growth in  Turnover

Year 2: 2% Growth in  Turnover
Year 3: 2% Growth in  Turnover

Initiatives:
– Conduct market segmentation exercise

– Review and revise Marketing strategy
– Conduct quality questionnaire in to customer satisfaction
– Incorporate appropriate response to questionnaires via training update
– Train all team members on quality customer service

I did start breaking down the relationships between ‘objective’, ‘measures’, ‘targets’ and ‘initiatives’ e.g. how many targets you can have per objective etc, but the simplest way to put is that one objective can have many measures, targets and initiatives that work towards achieving that one objective. Each objective should have it’s own measures, targets and initiatives. You cannot have two or more objectives in one, as each objective requires it’s own measures, targets and initiatives.

What is useful to remember is that despite the Balanced Scorecard being a tool for business, it can also be applied to something in your life, for example, booking that dream holiday to Milton Keynes or Hull in the UK – this could be your objective right? You will then have the measures to measure you’re on track to achieving your holiday, which could be the money in your bank account; targets to meet to make sure you achieve the objective at the right time, which could be something like have £150 in three months and another £200 in the subsequent three months and your initiatives on how you’re going achieve that objective, like cancelling that gym membership 😉 (your welcome).

Hope this was helpful.

Naj Hassan wrote this article. Naj is a full-time Dad; full-part-time Blogger; full-time Analyst; part-part-time Composer and part-full-time Investor and property problem solver.

– Leicester Property Buyers
 Leicester Car Buyers
– Naj Hassan LinkedIn
– Naj Hassan YouTube
– naj.hassan01(at)gmail.com

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Honda: The Power of Dreams

Great advertisement by, Honda.

“Let’s see what curiosity can do…”

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The Business Analysis Process: 3. Analysing Needs

So you’ve now done your perspective analysis and have documented stakeholder perspectives in to relevant diagrams, such as the Business Activity Model (BAM). The BAM is basically the model outlining and describing the system as it is envisaged by the stakeholder, based on their CATWOE analysis.

Once you have reviewed all BAM’s, including the CCCRUTT, which are Conflicts; (In)Consistencies; (lack of)Clarity; Relevance; Uniformity; Testability and Traceability and you have come to a final conclusion on what is important to the stakeholders and what items take precedence over others, in order to meet the goals of the project, divisions and wider company’s objectives, you can finalise you BAM.

So the next step is to create what’s called the ‘Gap Analysis’, which is basically an analysis of the needs of the division, department, product etc.

Okay, right, so with the BAM in your right hand, the process for creating your gap analysis/needs analysis is as follows:

  1. Review BAM to see how each activity is supported by systems and the resources available
  2. Identify activities that may benefit from reviewing and change
  3. Priorities activities based on the following: Time, Cost, Quality, Risk – the one that has the highest ratings for all four, will be higher up on the priority list for addressing
  4. Once you have determined your activities that need addressing, you will need to model ‘as is’ business process maps; I would use swim lane process maps because they present more data.
  5. Next, create ‘to be’ process maps based on your BAM, again in swimlane format
  6. Analyse the gaps between both process maps and
  7. Document a list of potential solutions that would work towards reducing the above variables (time, cost, quality and risk).

The next step includes analysing the defined options, using a range of techniques from cost-benefit analysis, risk analysis, heptalysis investment appraisal techniques to any other tool that would allow you to effectively appraise an option.

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The Business Analysis Process: 2. Considering Perspectives

You’ve now completed step 1 and you’ve now got a good understanding of the situation and are ready to progress your business analysis activities. The second activity within the business analysis process is to consider the perspectives of your stakeholders.

Here’s what you need to do:

  1. Find out who your stakeholders are. You can typically do or should have done this this by gathering details on the situation, from the first activity within the process. With this information you can then decide how to manage your stakeholders by conducting stakeholder analysis. A good way to do this is by using the power-interest matrix; the power-interest matrix will give you a framework for management.
  2. Once you have considered who your stakeholders are, it would be important to conduct the CATWOE analysis to understand what the stakeholders thoughts, feelings and values are with relation to the system/process addition/update/closure. The CATWOE analysis gives the analyst good details on the system from the users perspective; it takes in to consideration, why the stakeholder thinks the system should be implemented, what the definition of the system is, who the customer is, who plays a part within the system implementation, the owner and the environmental factors that need to be considered in which the proposed system will sit. You will conduct the CATWOE analysis with your stakeholders that you have identified as value-adding.
  3. Each perspective that you gather from a stakeholder, would be documented in a business activity model that outlines the main activities within the system, from the individual stakeholder’s perspective.
  4. Once you have gathered the above details and produced the business activity models, the next step is to determine one unified business activity model that synthesises all business activity models gathered. Now, naturally it may not be possible to create a synthesised model that incorporates every single requirement of all stakeholders. BA’s must recognise that stakeholder play a part in systems development because they have good context and understanding of user requirements; naturally people will have different opinions, however it is up to the BA to understand which activities within the documented business activity models that add most value, while meeting each stakeholders requirements. Often negotiations will need to take place, as it may not always ben feasible to deliver all requirements as outlined by the stakeholders. The way negotiation facilitation is highly personal and for that reason I won’t discuss this much.
  5. Compile all information gathered and document all of the details including the business activity models for reference, if required.

This will then take you on the next stage of analysing the needs within that one business activity model that you have now created, amalgamating most, if not all of the activities outlined in all stakeholder business activity models.

The Business Analysis Process: 3. Analysing Needs

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Are You A Leader or Manager? Here’s Your Answer

The difference between a Manager and Leader

  • Managers make the rules; Leaders break the rules
  • Managers execute culture; Leaders shape culture
  • Managers avoid conflict; Leaders know there’s no movement without conflict
  • Managers take credit; Leaders give credit
  • Managers make decision; Leaders facilitate decisions, encourage buy-in in a healthy way
  • When it comes to vision; Managers tell and Leaders sell
  • Managers are transactional; Leaders are transformational

SELF ASSESSMENT

Ask yourself:
If my position, title, role or formal authority, were removed; would the people that i’m leading, still gladly follow me?

“The people who are crazy enough to think they can change the world, are the ones that do.”