Management Diary The Quintessential Survival Guide in the Corporate Quagmire!

Management Diary


The Ultimate Reference For Managers And Wannabe's

New Leadership For A New War


Military analysts call this 'asymmetrical' war (as if war has a terrible symmetry); and we know that it will be as different from conventional war as three-dimensional, blindfolded chess is from conventional chess. But one thing is certain, leadership lies at the heart of achieving victory.

Management Procedures Usability ? How to Improve


Are your people consistently following your procedures? Each year, organizations lose thousands of dollars through common mistakes and lapses in usability. But what does that mean for business owners and executives? Ask yourself: ?Are your required actions described thoroughly and accurately, or are the details left open to interpretation? ?Is your content consistent and complete, or are your writers leaving gaps no one has noticed? ?Are revisions controlled, or are different people using different versions? ?Are your procedures compliant with regulations? Are you sure? ?Are all documents written to produce clear, measurable results? If you're unsure about any of the answers to these questions, there is good news: you can make your procedures clear and complete without combing through all of them yourself line by line.

Tales from the Corporate Frontlines: Training is in the Eye of the Beholder


This article relates to the Training competency, commonly evaluated in employee surveys. It comments on the value of training to both the company and its workforce.

Inventory Management 101


Inventory management may seem complicated to some, but if one truly thinks about what the words "inventory management" mean, it is a simple concept. Inventory is basically a list of goods and materials that are held by a business and are available in stock.

Critical Success Factors - Next


(Note, although this article was written in early 2002, it is totally relevant. Right now.

To Thine Own Self Be True--Its Better for Business: What Arthur Andersen Would Say to His Company


As a child, you probably heard, 'to thine own self be true.' But what does that really mean? When the newspapers are full of cheating and lying business owners, politicians, and academics, does it really make sense to maintain your integrity? To me, the answer is a clear, unwaffling YES! Without your integrity, you really don't have a business or a career--just a waiting game until you world comes crashing down around you.

Rethinking Workplace Security: How the Rules Have Changed


The workplace has traditionally been a dangerous place. Very early in mankind's history perils emanated from the place and type of work they performed.

Business Leadership Skills - Managing the Human Being Behind the Business


It's a common problem and we've all seen it - business owners that are just 'too busy' all of the time, and as a result, do not enjoy the success in business they had hoped for. Let's not kid ourselves, there is a lot to focus on: technology, employees, sales, marketing and so on.

Management Development - Micromanagement Works!


Getting into the detail of everything each of your people does, will really damage your relationships with them. Sure, there are times where their hand needs to be held, and then there are times when you have to be sensitive enough to their needs to back off and let them learn for themselves.

Train Me -- But Follow Through


My mechanic has me trained. When I take my car in for an oil change, he places a sticker in the upper left hand corner of my windshield to remind me what date and mileage I should have my next maintenance completed.

Management Diary Articles - See index below:
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Stocks fall in Argentina as country enters default

An activist holds a banner that reads in Spanish "Homeland or vultures, be strong Argentina"BUENOS AIRES, Argentina (AP) ? Stocks fell sharply in Argentina on Thursday as the country defaulted on its bills for the second time in 13 years, raising fears the move could diminish foreign reserves, stoke inflation and drive the economy deeper into recession.



Argentina defaults but investors see eventual deal possible

A woman walks past a graffiti in Buenos AiresBy Sarah Marsh BUENOS AIRES (Reuters) - Argentina defaulted for the second time in 12 years after last-ditch talks with what it called "vulture" creditors failed, though debt insurance prices on Thursday suggested investors believed a deal could eventually be reached. After a long legal battle with hedge funds that rejected Argentina's debt restructuring following a 2002 default, Latin America's third-biggest economy failed to strike a deal in time to meet a midnight payment deadline. Any such ruling would set off a series of insurance payments and give most of Argentina's current bondholders the right to demand their money back immediately. The cost of insuring Argentina's debt against default fell sharply on Thursday, however, data provider Markit said, as investors speculated a deal could be struck, even if only in the long term.



European stocks slide; Adidas sparks Ukraine worries

Traders at the Frankfurt Stock Exchange where the DAX 30 index fell 0.18 percent to 9,576.16 pointsEuropean stocks tumbled on Thursday as investors digested a barrage of results, with Frankfurt sliding after German sportswear giant Adidas issued a profits warning linked to the crisis in Ukraine. Investor sentiment remained cautious on the eve of the crucial US non-farm payrolls data, which is a major indicator of the health of the world's biggest economy. European stock markets slumped, with Frankfurt's main DAX index diving 1.94 percent to 9,407.48 points by the close of trading. London's benchmark FTSE 100 index shed 0.64 percent to 6,730.11 points, while in Paris the CAC 40 tumbled 1.53 percent to 4,246.14 points.



EU identifies 5 Russian banks it is sanctioning

People walk past the headquarters of Russian Agricultural Bank in downtown Moscow, Russia, on Wednesday, July 30, 2014. The European Union approved dramatically tougher economic sanctions Tuesday, July 29, against Russia, followed swiftly by a new round of U.S. penalties. Among the targets were three Russian banks: the Bank of Moscow, Russian Agricultural Bank and VTB Bank, Russia's second largest bank. (AP Photo/Ivan Sekretarev)BRUSSELS (AP) ? The European Union on Thursday revealed the details of its broad economic sanctions against Russia, including the names of five major banks which will see their access to the 28-nation bloc's capital market curtailed.



San Francisco million-dollar home sales hit record
SAN FRANCISCO (AP) ? A record number of million-dollar homes were sold in the San Francisco Bay Area during the second quarter, a research firm said Thursday, another sign that affording a place to live is a growing challenge for anyone who isn't tied to the booming technology economy.
San Francisco sells record million-dollar homes
SAN FRANCISCO (AP) ? A research firm says a record number of million-dollar homes were sold in the San Francisco Bay Area during the second quarter, another sign that affording a place to live is a growing challenge for anyone who isn't tied to the technology economy.
New Paris hotel joins race to pamper the super rich

File picture of employees posing on the steps outside the Peninsula Paris luxury hotel during a press presentation in ParisBy Astrid Wendlandt PARIS (Reuters) - After four years of refurbishment work costing 430 million euros ($575.67 million dollars), the Peninsula Paris hotel opens its doors on Friday, promising prince-like treatment to well-heeled visitors to the French capital. It is part of a battle to attract Asia's new class of super-rich that not only pits the world's top hotel groups against each other but also cities such as Paris, New York and London. For the Peninsula team, it is a long-term investment, piggybacking on Paris's efforts to woo the Chinese in particular over the past decade - yet it comes as the luxury industry in France is feeling the pinch from a drop in traffic from Russian, Indonesian and Japanese tourists. France is seeking to exploit its position as the world's most visited country to boost the trade balance and stimulate the euro zone's flatlining second economy by convincing tourists to spend more.



European business already feeling chill of Ukraine crisis

Germany's construction sector is less optimistic over the economic outlook for the next six months, according to the Ifo economic institute's recent business climate indexFalling consumer confidence in Russia and a drop in the ruble have also dampened business for many European companies amid the months-old crisis. "Of the major European countries, Germany is most exposed to the Russian risk," said Holger Schmieding, chief economist at Berenberg Bank. Amid a mounting standoff with Russia over the Ukraine crisis, the EU opted this week for economic sanctions against Moscow. The punitive measures coming into force Friday limit access for several Russian banks to Europe's financial markets and ban some exports, mainly in the defence and energy sectors.



Eurozone unemployment, inflation data paint mixed picture

Spanish jobseekers walk past an employment office in Madrid, where the country's unemployment rate of 24.5 percent is one of the highest in the EurozoneEurozone unemployment and inflation data painted a mixed economic picture Thursday, with the jobless rate edging down while softer prices raised question marks over consumer demand, clouding the outlook. Analysts said the jobs data was welcome but when set against the slowdown in inflation, it offered little comfort for the European Central Bank which will likely come under additional pressure to adopt more stimulus measures to keep very modest growth on track. In July 2013, inflation ran at 1.6 percent, well short of the ECB target of around 2.0 percent. The July inflation report "underlines the weakness of price pressures (in the eurozone) and support our view that the ECB has more work to do to tackle the risk of deflation," said Jonathan Loynes at Capital Economics.



EU formally adopts Russia sanctions

A statue of Lenin stands in front of a logo of Russia's SberBank on Lenin Square in Donetsk, east Ukraine, on June 21, 2014The European Union formally adopted broad economic sanctions against Russia on Thursday, aiming to make it pay a price over the Ukraine crisis in the hope Moscow will reverse course. The new measures, finally agreed earlier this week after months of hesitation, target Russia's banking, defence and energy sectors in view of its "actions destabilising the situation in eastern Ukraine," a statement said. Five banks were named, among them the largest in Russia: Sberbank, VTB, Gazprombank, VEB and Rosselkhozbank. EU nationals and companies will no longer be allowed to buy or sell new bonds, stocks or other debt instruments with a maturity of more than 90 days issued by such banks, the statement said.



IMF urges higher energy taxes to fight climate change

International Monetary Fund Managing Director Christine Lagarde attends a conference about the future of the Euro zone in ParisEnergy taxes in much of the world are far below what they should be to reflect the harmful environmental and health impact of fossil fuels use, the International Monetary Fund said in a new book on Thursday. For the first time, the IMF laid out exactly what it views as appropriate taxes on coal, natural gas, gasoline and diesel in 156 countries to factor in the fuels' overall costs, which include carbon dioxide emissions, air pollution, congestion and traffic accidents. Under its chief, Christine Lagarde, the IMF has delved into the impact of climate change, arguing that tackling the fund's core mission of economic instability is impossible without also addressing environmental damage. At the book's launch in Washington, Lagarde said countries should not have to wait for global agreement on climate policies, and instead should move ahead in adjusting energy prices on their own.



Canada's growth beats expectations in May, rates set to stay low

New cars are seen at the Toyota plant in Cambridge, OntarioBy David Ljunggren OTTAWA (Reuters) - Canada's economy grew more than expected in May, expanding for a fifth consecutive month, but most likely not enough to persuade the Bank of Canada to raise interest rates. Statistics Canada said on Thursday that gross domestic product (GDP) grew by 0.4 percent in May from April, more than the 0.3 percent forecast by market analysts. Canada's economy has grown sluggishly in recent months and the Bank of Canada - which has kept interest rates at near record lows since September 2010 - says there is no chance it will alter its neutral policy stance and opt for a rate hike until it sees evidence of sustained growth and higher inflation. Central bank Governor Stephen Poloz said earlier this month the economy did not yet have enough steam to grow without the bank's help and said it could just as easily cut rates as raise them.



TSX drops as Argentina defaults, Valeant sells off

A man walks past an old Toronto Stock Exchange sign in TorontoBy John Tilak TORONTO (Reuters) - Canada's main stock index declined on Thursday as Argentina's default kindled worries about the stability of the economic recovery in the region and shares of Valeant Pharmaceuticals International fell after the company cut its outlook. The benchmark TSX, which has been one of the strongest performers among global stock indices this year, pulled back after hitting a record high in the previous session. Argentina defaulted for the second time in 12 years after hopes for a midnight deal with holdout creditors were dashed. Investors tried to gauge the effect of the news on broader financial markets and economies beyond Argentina, and the uncertainty resulted in a spike in volatility.



Profits shrink at Japan's 'megabanks'

A businessman walks past a branch of Mitsubishi UFJ in Tokyo, on May 14, 2014Japan's top three banks on Thursday posted lower quarterly profits as the impact of last year's stock market surge faded. Mitsubishi UFJ, the country's biggest lender, saw its net profit slip about six percent to 240.5 billion yen ($2.4 billion) as revenue weakened in the three months through June. Rivals Mizuho Financial Group and Sumitomo Mitsui Financial Group saw bigger drops with their earnings in the period dropping 38 percent and 20 percent respectively. Japanese banks hold vast stock holdings which benefited when overseas investors poured billions of dollars into the long-overlooked market, as a government economy blitz helped pushed down the value of the yen.



Beyond oil and reserves, Russia running on empty
By Lidia Kelly and Katya Golubkova MOSCOW (Reuters) - For all the sanctions Western leaders can throw at Russia, the biggest threat to President Vladimir Putin's ability to back separatists in east Ukraine is something beyond his or their control: the price of oil.     With Russia's $2 trillion economy heavily dependent on crude exports, oil prices are always closely monitored by the Kremlin, but the government is particularly wary now as tensions with the West mount and sanctions ratchet up. ...
Argentina slides into second default as talks fail

An activist holds a banner that reads in Spanish "Homeland or vultures, be strong Argentina"NEW YORK (AP) ? The collapse of talks with U.S. creditors sent Argentina into its second debt default in 13 years and raised questions about what comes next for financial markets and the South American nation's staggering economy.



Eurozone inflation down again but ECB seen on hold
BRUSSELS (AP) ? The inflation rate in the 18-nation eurozone dropped again in July, official data showed Thursday, in a worrying sign that adds pressure on the European Central Bank to beef up its efforts to spur the economy.
British consumer morale and housing market cool in July

A woman carries shopping bags as she walks along Oxford Street in central LondonBy Andy Bruce and Tess Little LONDON (Reuters) - British consumer morale dipped for the first time in six months in July and house prices stagnated, adding to signs that Britain's rapid economic recovery is cooling slightly. The consumer confidence index produced by market research company GfK unexpectedly fell although it was still close to a nearly 10-year high. House price growth figures from mortgage lender Nationwide were their weakest in more than a year. The Bank of England and private economists expect Britain's economy to slow slightly in the second half of 2014, although it is still set to outpace all of its major European peers, raising questions about when interest rates will start to rise.



Argentina slides into default as debt talks fail

An activist holds a banner that reads in Spanish "Homeland or vultures, be strong Argentina"NEW YORK (AP) ? The collapse of talks with U.S. creditors sent Argentina into its second debt default in 13 years and raised questions about what comes next for financial markets and the South American nation's staggering economy.



As US economy accelerates, Fed remains cautious

In this July 17, 2014 photo, construction workers build a commercial complex in Springfield, Ill. The government issues its first of three estimates of how fast the U.S. economy grew in the April-June quarter on Wednesday, July 30, 2014. (AP Photo/Seth Perlman)WASHINGTON (AP) ? After a grim start to 2014, the U.S. economy has rebounded with vigor and should show renewed strength into next year.


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