STAND up and dance like nobody’s watching. We are watching though, everyone is, and that’s why being the initiator feels so scary. You are afraid of looking like a fool, we all are. So we wait and watch you dance. Genuine passion is contagious, and as you dance freely and passionately one person sees the […]
Author: Tom Spencer
An elevator pitch needs to be clear, concise, provide a solution and generate interest in order to just get the conversation started AS WE discovered in the previous post, an elevator pitch is a high-level overview of whatever it is that you are selling and is designed to just get the conversation started (Elevator Pitch […]
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The Elevator Pitch
An elevator pitch is a high-level overview of whatever it is that you are selling and is designed to just get the conversation started.
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Productivity – Make It Personal
Assigning direct responsibility for productivity improvement makes it much more likely that action will be taken to improve productivity PRODUCTIVITY is important. Every organisation wants to produce more with less. The difficulty is though, that “productivity” is a nebulous term. Who is responsible for this “productivity” you speak of? Assigning direct responsibility for productivity improvement […]
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Focus on the customer
If 30% of your people’s effort is focused on internal affairs and you can redirect it so that only 10% of people’s effort is focused internally, then that is a major boost in productivity.
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Ten years gone by
TEN years ago, what were you doing? For me, I was just entering my final year of high school and gearing up to sit the final exams called the Higher School Certificate. Expectations were high! Our teachers told us that these were the most important set of exams that we would ever take because “a […]
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Creating a winning résumé
A résumé is a sales document which presents a factual account of your skills, knowledge and experience in the best possible light to help you win an interview 1. The importance of a résumé A résumé is a factual presentation of your skills, knowledge, experience and proven abilities and an indication of your potential. The […]
Consultants can help an organisation by supporting organisational change, accelerating information gathering and ensuring rigorous analysis FOLLOWING on from the previous post which considered whether consultants are just highly paid scapegoats, let’s consider a common consulting stereotype which sheds some light on where consultants add value. Consultants are people who borrow your watch, tell you what time it is, and then walk off with the watch. Attributed to Robert Townsend, this well known […]
Consultants charge huge sums for superficial but well “powerpointed” presentations in return for the company executives’ right to take full credit for any successful outcomes MANAGEMENT consultants are often loudly criticised. Why is this so? A large part of the reason is that consultants are paid a lot of money to provide recommendations which may […]
FORMER McKinsey consultant Victor Cheng provides us with an interesting insight. The skills that get you hired as a consultant are not the same skills that get you promoted, and the skills that get you promoted are not the same skills that take you to the top. You get hired for your analytical skills, you […]
There is a mismatch between what science knows and what business does DANIEL Pink puts forward the idea that there is currently a mismatch between what science knows and what business does. Pink presents the Candle Problem, an experiment invented in 1945 by Karl Duncker. The experiment works as follows: I bring you into a room […]
An economic indicator is any statistic (e.g. the unemployment rate or GDP) which indicates the past, current or future strength of the economy THERE is talk about town and in the media of an economic upturn in the final quarter of 2009 – “banks are lending, consumers are buying, and companies are hiring.” While it […]
EXECUTIVES often rely on the advice of expert management consultants. Was it always this way? Where did it all begin? The very first management consulting firm was Arthur D. Little, founded all the way back in 1886 by a professor at MIT whose name was (funnily enough) Arthur D. Little. Almost 30 years later, Booz […]
In order to maximize your chances during the interviewing process, it’s important to prepare carefully. This article provides 5 tips to help you ace the interview.
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Tony Robbins – Six Human Needs
FOLLOWING on from the theme of my last post, which highlighted Alain de Botton’s kinder and gentler philosophy of success, I think it would be valuable to consider why we do what we do. In an attempt to become “successful” many of us work long hours and sacrifice time that could be spent with friends and […]
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TEDx Emerald City
LAST night I attended my first independently organised TED event, TEDx EmeraldCity. The event was organised by the ever dynamic and always delightful Melissa O’Young. The name of the event sounds pretty random, and it is, but it is also quite clever. Since this was an Australian TED event the thinking was as follows: Australia – […]
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Results: CFA Level 1 Exam 2009
THE CFA Level 1 Exam Results have just been released. Following on from my slightly worried exam-day overview of the 2009 CFA Level 1 Exam, I thought you may be interested to know the result: Pass mark: 70% Pass rate: 46% Result: Pass!! Feeling: very relieved
There are six strategic principles which are relevant to any company that wants to be profitable online IN AN article entitled “Strategy and the Internet” published in the March 2001 edition of the Harvard Business Review, Michael Porter outlined six principles that he believes companies need to […]
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Nissan leads the charge
ON 1 August 2009, at the opening of its new global headquarters in Yokohama, Nissan launched its first fully electric vehicle, the Nissan Leaf EV. Nissan appears to have made a long term strategic commitment to electric vehicles. According to one source, Nissan has been busy developing electric vehicles since 1992. Nissan, with alliance partner […]
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GE-McKinsey 9-Box Matrix
The GE-McKinsey 9-Box Matrix offers any decentralised corporation with multiple business units a systematic approach to help it decide where to invest its cash IN SEPTEMBER 2008, the McKinsey Quarterly published an interactive audio presentation on the GE-McKinsey 9-Box Matrix. An outline of this framework is provided below. 1. Background The 9-Box Matrix follows in […]
IT would be easy to forget that there are many fine people out there who have never heard of this “CFA Program”. What is the CFA Program? The CFA Institute describes the CFA Program as a graduate-level course for investment professionals. The course covers an extremely broad range of topics including: ethics, quantitative methods (read: […]
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Rejecting the rejection letter
IN THESE troubled economic times it may be difficult to obtain an offer of employment. There are lots of skilled people competing for a small number of jobs. Be bold, stand up for yourself, and don’t take no for an answer! Dear Employer, Thank you for your letter rejecting my application for employment with your […]
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Madoff made off with $65 billion
ON 29 June 2009, Bernard Madoff pleaded guilty to defauding investors and was sentenced to 150 years in prison. The 71 year-old swindler is due to be released in 2159. Madoff’s $65 billion investment fraud has been referred to as a gigantic Ponzi scheme “dating at least as far back as the 1980s” (The Economist). […]
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Finding and retaining talent
THE ability to find and retain talented employees is vital to sustained business success. Attractive remuneration, stock options plans, medical benefits, and other incentives are attractive enticements for any employee. But what factors are important in attracting, focusing and retaining the most productive and talented workers? Marcus Buckingham and Curt Coffman, in their international bestselling […]
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Business Mutualism
Business Mutualism MUTUALISM, a concept from biology, refers to a relationship between two species or organisms in which both benefit from the association. Following on from the ideas put forward in a recent talk by Robert Full, we can apply this idea to the world of business by considering the idea of “Business Mutualism”. We […]
ONE of the take away lessons from the CFA curriculum is that the conventional method of valuing an investment is to determine the present value of expected future cashflows. One way of doing this would be to use the constant growth dividend discount model, which estimates the value of a stock by assuming that dividends […]
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CFA Level 1 Exam 2009 – post audit
An exam day overview I did the CFA Level 1 Exam yesterday. If you haven’t heard of the CFA Exam before, see the article “CFA Exam – What is it? Why do it? How to prepare.” It is definitely one of the most exhausting tests I have undertaken, a gruelling six hour 240 question multiple […]
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Looking beyond the adequate
WHEN posed with a business problem, there is always a temptation to accept the first solution that adequately addresses the problem. However, the “adequate” solution is usually not the only solution, and often not the best one. Adopting the first solution that “works” may get us from A to B and, once we have a […]
GIVEN my lack of time lately, I thought that writing a short post on worker productivity would be amusingly appropriate. I am working 10/11 hour days, studying for the CFA, and writing this blog, among other things. Fun times! I recently stumbled across an idea called the “Hawthorne Effect”, which I thought it would be […]
1. The golden ratio THE golden ratio is believed to have aesthetically pleasing properties. The golden ratio is a naturally occurring number that has been the subject of interest since ancient Greek times, and has been used in architecture, art, books and music since at least the time of the Renaissance. For example, artists have […]
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Great managers select for talent
I am in the process of reading “First Break All the Rules” by Marcus Buckingham & Curt Coffman. The book makes the insightful point that great managers understand the difference between skills, knowledge and talent: Skills are abilities that may be acquired by training. For example, a mathematics teacher must be skilled in arithmetic, a […]
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Economies of scale
1. Importance of economies of scale IN THE early 20th century, by using assembly lines to mass produce the Model T Ford, Henry Ford became one of the richest and best-known men in the entire world. Economies of scale provide a company with two main benefits: Increased market share: Lower per unit costs allow a […]
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Product Life Cycle Model
The Product Life Cycle Model can be used to analyse the maturity stage of products and industries 1. Background THE idea of the Product Life Cycle was first developed in 1965 by Theodore Levitt in an article entitled “Exploit the Product Life Cycle” published in the Harvard Business Review on 1 November 1965. 2. Benefit […]
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Cover letters win interviews
1. The importance of a cover letter A COVER letter is a short one page sales letter that accompanies your resume as part of your job application. The cover letter is important because it creates a first impression of you with your potential employer. The main purpose of a cover letter is to obtain an […]
When a company is trying to borrow money, executives, entrepreneurs and consultants should be aware that there are five criteria that most lenders care about What are lenders looking for? IT IS important to understand what lenders look for when they lend money because companies often need to borrow money for various reasons: increase cash […]
PREVIOUSLY I created a list of certain consulting firms in Australia and America. I have decided to do the same thing for India. This list provides quick access to a list of the top consulting firms in India and provides a short description of each. I hope you find it useful. The list of consulting […]
THIS list of strategy and general business consulting firms forms part of the full list of consulting firms in India: McKinsey & Company Boston Consulting Group Bain Consulting India Pvt Ltd AT Kearney Accenture Tata Strategic Management Group A. F. Ferguson & Co. Arshiya International Ltd Deloitte KVP Business Solutions PRTM Management Consultants Madras Consultancy […]
THE list of IT consulting firms forms part of the full list of consulting firms in India: Diamond Management & Technology Consultants Capgemini Binary Semantics ISHIR Digital ProcessLOGIX Consulting Pvt Ltd RADIX Corbus 1. Diamond Management & Technology Consultants Website: www.diamondconsultants.com Diamond has headquarters in Chicago and offices in Hartford, New York, Washington D.C., London […]
THE list of HR consulting firms forms part of the full list of consulting firms in India: Mitcon Consultancy Services Ltd Vruksham Talent Group ALP Management Consultants Synergetics Omam Consultants Ma Foi Management Consultants Ltd ABC Consultants Pvt Ltd 1. Mitcon Consultancy Services Ltd Website: www.mitconindia.com Founded in 1982, MITCON is based in Pune and […]
CORPORATE social responsibility (CSR) involves business organisations acting in the interests of society by taking responsibility for the impact of their activities on customers, suppliers, employees, shareholders, communities, the environment, and other stakeholders. Increasing concern about global climate change is shifting consumer preferences in favour of green and organic products, as well as putting pressure […]
IN MAY 2008 the McKinsey Quarterly spoke to Nobel laureate Daniel Kahneman, notable for his work on behavioural finance and hedonic psychology, about quality control and improving the decision making process. 1. The decision factory Kahneman says that you can think of an organisation as a factory for producing decisions. The organisation might produce other […]
PREVIOUSLY I created a list of certain consulting firms in Australia. I have decided to do the same thing for the United States. This list provides quick access to a list of the top consulting firms in America and provides a short description of each. I hope you find it useful. The list of consulting […]
General business and strategy consulting firms THE list of general business and strategy consulting firms forms part of the full list of consulting firms in America: McKinsey & Company Boston Consulting Group Bain & Company Booz & Company Booz Allen Hamilton Monitor Group Oliver Wyman The Parthenon Group Deloitte Consulting LLP L.E.K. Consulting Marakon Associates […]
THE list of IT consulting firms forms part of the full list of consulting firms in America: Gartner, Inc Diamond Management & Technology Consultants, Inc. Capgemini PA Consulting Group 1. Gartner, Inc Website: www.gartner.com Founded in 1979, Gartner is headquartered in Stamford, Connecticut and advises executives in 80 countries. Gartner also has offices in Sydney, […]
THE list of HR consulting firms forms part of the full list of consulting firms in America: Hewitt Associates Towers Perrin Watson Wyatt 1. Hewitt Associates Website: www.hewittassociates.com Founded in 1940 as an insurance brokerage firm, it now has offices in 33 countries. In America Hewitt Associates has offices in Newport Beach, Pleasanton, San Francisco, […]
THE list of Economic Advisory and Executive Education firms forms part of the full list of consulting firms in America: NERA Economic Consulting Corporate Executive Board The Advisory Board Company Gallup Consulting 1. NERA Economic Consulting Website: www.nera.com Founded in 1961, NERA has 20 offices worldwide. In America it operates out of Boston, Chicago, Denver, Ithaca, Los […]
THE list of Litigation Support firms forms part of the full list of consulting firms in America: LECG Cornerstone Research Huron Consulting Group 1. LECG Website: www.lecg.com Founded in 1988 by distinguished faculty from the University of California at Berkeley to provide independent testimony, authoritative studies and advisory services to inform business, regulatory, and judicial […]
I HAVE spent a lot of time writing about preparing for consulting interviews. The aim of performing well in the interview is to obtain an offer of employment. Imagine you have obtained an offer of employment from the consulting firm of your choice and you now want to negotiate the terms of the offer. Can […]
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Value Chain Analysis
To understand which activities provide a business with a competitive advantage, it is helpful to separate operations into a series of value-generating activities referred to as the “value chain” 1. Background VALUE Chain Analysis is a concept that was first described and popularised by Michael Porter in his 1985 book, Competitive Advantage. 2. Relevance of […]
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Four P’s Marketing Framework
A useful framework for evaluating the marketing strategy for a product THE Four P’s consists of: price ; product ; position/place; and promotion . 1. Price The pricing strategy employed by a firm for a particular good or service will have a significant effect on profit. There […]