Monday, May 9, 2016

A Better Way to Maximize Intellectual Capital

In the book The New Industrial State by J.J. Galbraith (1969) intellectual capital was defined as pure intelligence match with purposeful activity. People may hold intellectual capital but unless they use that capital somewhere it is useless. In industries that strive on innovation and development proper management of intellectual capital becomes even more important.

I have seen companies waste their intellectual capital by poor job design and even poorer policies. Really smart and helpful people have been passed up for people who play politics. At the end of the day the performers capacity is wasted while those who are the worst to lead move forward.

At times it could be the job design itself that causes the problem. For example, some jobs are designed to restrict the use of intellectual capital by creating false barriers between the job responsibilities and the responsibilities over the job. The employee has no reason to use their brains to improve their position and its outputs.

Other times there are poor policies that restrict the information flow throughout the organization and make it difficult for good ideas to come forward. There have been companies so poorly run that they locked down all information to keep certain individuals in positions of power even when the organization was moving into bankruptcy.

To create an organization with higher levels of intellectual capital needed to innovate in ever changing markets it is necessary to open up information and change job structures. Information should flow generously throughout the organization as ideas are the main catalyst for change. Likewise, jobs should be designed in a way that encourages higher levels of performance by moving outside traditional roles of responsibilities and into a more integrative and collaborative approach.



Friday, May 6, 2016

Desk Jockeys Need Moderate to Vigorous Exercise

Exercise won't save us alone. More Americans are sitting for longer periods of time than at any other point in history. To counter balance all of this lethargic activity is the need to beef up our fitness routines more than what might be expected. According to a Norwegian study in the Medicine & Science in Sports & Exercise that regular exercise doesn't cut it anymore.

The study highlights that only moderate to vigorous exercise may help for those who sit at their jobs for long periods of time. Based on a study of 12,274 men and 14,209 women (≥20 yr) without known cardiovascular disease  who engaged in moderate to high intensity exercise received cardio vascular benefits that protected against future health events.

The study is important because a slow stroll may not be enough to really counter the lack of activity in our lives. It is important for us to start speed walking, sprinting, jogging, running, swimming, and engaging in higher cardio activities. For those of us who sit all day it is important to get your heart pumping a few times a week to get into higher levels of fitness.

Nauman, et. al. (April, 2016). Cardiorespiratory Fitness, Sedentary Time, and Cardiovascular Risk Factor Clustering.  Medicine & Science in Sports & Exercise, 48 (4).  Retrieved http://journals.lww.com/acsm-msse/Abstract/2016/04000/Cardiorespiratory_Fitness,_Sedentary_Time,_and.6.aspx


Making Sure Your Organization Is Strategically and Not Tactically Managed

The way an organization makes decisions impacts how successful it will be over the long-run. It is possible to argue that decisions are the only thing that makes a business feasible and profitable. The difference between tactical and strategic decisions should be pointed out in the overall organizational management approach. Using them wisely can make a big difference in shareholder wealth.

People often confuse the two when making organizational decisions. Tactical decisions are medium term choices that can impact the business but are limited in scope. A tactical decision might have an impact of a few months to a few years. They can have an impact on quarterly earnings and revenue streams but are limited in scope.

Strategic decisions are usually longer than a few years and take into account market information to make the best long-term choices. Strategies are made of a series of tactical choices that help lead to the achievement of the strategy. Long-term decisions have an impact on the future viability of the organization and increase shareholder wealth over the long run.

Managers use tactical decisions to make daily operational choices. Executives use strategy to create tactical choices that lead the fulfillment of their departments. When tactical decisions are used like a strategy, problems start to rise and the organization begins to be thrown around like a ship without a rudder in a storm.

Tactical decisions that take a higher precedence than strategy put an organization at risk in the long run as decisions such resources and are based on the whimsical viewpoints of executives. All decisions should be weighed against the overall strategic goals to ensure that they are advancing, not detracting, from long-term shareholder wealth. The merit of each tactical proposal is based on its overall advancement of the organization's strategic position. 


Hiring Slows Down but Wages up in April

The U.S. economy added 160,000 jobs in April according to the Bureau of Labor Statistics. Average hourly earnings increased to 8 cents which amounts to $25.53/hour. Unemployment stays steady at 5%. Those jobs that gained the most are professional and business services, health care, and financial activities while mining jobs shrunk.

The economy is starting to shift and job creation was slower than what most analysts expected. Contraction on lending and slowing down of investments might have an impact on job growth and economic expansion. If job growth continues to slow down it is likely that wage growth will also take a hit latter in the year. 
 



Managing the Angry Student by Helping them Help Themselves

Most students are open minded, pleasant and eager to learn. It is a joy to have them in class. Even in the best lot of bright minds you will come across a few students that seek to bully their way into a higher grade. It is that email, conversation, or phone call that starts out with an excited "Why did you give me that grade?" and "No other professor grades me so harsh!" which sets the tone for the rest of the conversation. Learning to manage an angry student can go a long way in furthering their learning while helping them help themselves.

While most students have been socialized properly there are some students who hold deeper anger and self-esteem issues that push them toward emotional outbursts. Understanding that such communication styles are based in the student and not the professor will help you put your mind at ease.  The issue isn't the grade itself but their fear of meeting the challenge and the poorly learned communication habits that have become ingrained throughout their lives.

Don't Overreact!

The first thing any professor should do is relax and take a deep breath. Some students have learned that if they get angry and project that anger onto others they will get a reaction that will help them. The hope is that something will be said which they can be used in their arguments, the grade will change due to frustration, or they will get an emotional reaction out of the professor that helps them feel empowered. Some professors even become fearful the student will cause them problems with their job.

Expect Civility

Your job is not to be an emotional punching bag nor is it to be responsible for the emotional outbursts of the student. Calmly remind the student that all communications will be civil. If the student refuses to engage in a civil conversation then you may either reschedule the conversation to a later time/date when emotions have subsided or let the student approach you again when they are calmer. If the student continues their aggression put them on notice and consider making an internal complaint.

Bring Them to Greater Awareness

It is important to help students understand what the grade represents and how they can raise those grades through focused effort. Students sometimes feel as though a C or B grade means they are not doing well and it reflects on their self-worth. They are focused heavily on the grade and not enough on learning that is supposed to accompany that grade. Helping them understand that it means they are doing well but can improve can go a long way in calming their fears.

Provide them substantive feedback and/or offer them resources that will help them come to greater awareness of an appropriate path. Sometimes it is beneficial to ask them questions and have them read supplemental materials on the topic or writing.  The more they read about expectations and performance the better off they will be.

Consider Changing the Grade

If the student has done all that you asked, answered your questions, read your materials, and successfully integrated the new knowledge then consider bumping their grade up. View it as extra credit. The point of higher education is to help them learn and develop. If they are doing this then the grade is less important. Don't let your ego get in the way of the student's success....be flexible.



Thursday, May 5, 2016

2016 Summer Business Research Symposium

2016 SUMMER BUSINESS RESEARCH SYMPOSIUM 
July 22-23, 2016
Los Angeles Metro Area, United States of America 

Take advantage of the early bird deadline June 22, 2016 and save 100.00 USD off of your registration fee

Presenter Fee: 500.00 USD
Attendee Fee: 350.00 USD

- Submission of an abstract, topic of interest or proposal will be accepted for the purpose of registration. 
- Time schedule to be determined later after all the papers have been received. 
- 30 minute presentation per paper
- Abstracts will be published in on-line conference program (book of abstract)
Enquiries: conference@uofriverside.com
Web address: http://www.uofriverside.com/conferences/management-conferences/global-business-research-symposium/2016-summer-global-business-research-symposium/
Sponsored by: University of Riverside

Abstracts of research papers in 150-200 words are invited from government officers, practitioners, researcher, academics, professionals, academics and Ph.D. scholars/PG students on contemporary issues in Business Research befitting any of the conference tracks mentioned as under. Topics of interest for submissions include, but are not limited to:
- Accounting
- Advertising Management
- Academic Entrepreneurship
- Business and Economics
- Business Ethics
- Business Intelligence
- Business Information Systems
- Business Law
- Business Performance Management
- Business Statistics
- Corporate Governance
- Cost Management
- Decision Sciences
- Development Planning and Policy
- Economic Development
- Economic Methodology
- Economic Policy
- Economic Systems
- Entrepreneurship, Intrapreneurship
- Entrepreneurship Education in Universities
- Finance and Investment
- Financial Economics
- Human Resource
- Industrial and Manufacturing Engineering
- Information Systems
- Information Technology Management
- International Business
- International Economics
- International Finance
- Knowledge Management strategies
- Labor Economics
- Law and Economics
- Leadership for Innovativeness
- Management Information Systems
- Management Science
- Management Information System
- Management of Innovation and Technology
- New Product Development
- Operations Research
- Organizational Behavior and Theory
- Organizational Communication
- Prices, Business Fluctuations, and Cycles
- Product Management
- Production and Organizations
- Production/Operations Management
- Public Economics and Finance
- Public Relations
- Public Responsibility and Ethics
- Practices and Tools of Destination Marketing
- Process Innovation and Development
- Production Management
- Quality Management and Quality Engineering
- Regulatory Economics
- Resource Management
- Reengineering in Industrial Management
- Risk and Security Management
- Risk Management
- Strategic Management
- Strategic Management Policy
- Stress Management
- Supply Change Management

PhD's Up and Jobs Down-Companies Miss Opportunities

Inside Higher Ed recently published an article entitled The Shrinking Ph.D. Job Market highlighting how more doctoral graduates, higher debt levels, and lower job prospects are having an impact on graduate opportunities. Fields like education are declining while engineering is exploding. Most other fields are growing. The fear is that lack of jobs will put pressure on future intellectual capital thereby damaging future Ph.D. job seekers. Companies may be missing out on a golden opportunity.

Not all Ph.D.s need to work in academia and most can contribute significantly to industry development and corporate innovation. Only 61.4% of new graduates have workplace commitments making corporate recruitment a viable alternative for many Ph.D. holders.

Considering that  graduates doctoral programs have the highest levels of education, critical thinking skills, and research capabilities they should be in demand for corporations. As quantitative analysis and big data become larger part of everyday business it will be necessary to hire highly educated people.

Not all Ph.Ds are the same but those who hold degrees that can be directly applied to business hold promises for companies that want to raise their intellectual capital while hiring top home grown talent. Consider a few benefits:

Corporate Innovation: Developing products and services.

Operational Research: Researching internal aspects of the business to reduce inefficiencies.

Training & Development: Utilizing "book smarts" to raising the human capital of the business.

Management: Grooming doctoral holders for management and eventual senior management positions.

Strategic Analysis: Researching the market and evaluating strategic options.