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Management Diary
The Ultimate Reference For Managers And Wannabe's
Your Company Without Training - Any Questions?
Okay, be honest! Are you guilty of sticking in a few boring videos and calling it training? Do you send in your department heads to deliver a few, rushed, canned presentations and call it orientation? Are you then surprised when your new employees don't live up to your expectations, and your employee turnover numbers keep rising? What if you took the time and money that you spend on employee recruitment and put it into employee training? Would it make a difference? Would it be worth the effort? You Bet it Would!! Take, for instance, The Container Store, who has made the top of Fortune magazine's "100 Best Companies to Work For" list for the 6th year in a row! In an employee's first year they offer over 241 hours of training, far exceeding the training hours offered by other retail stores. In the next 18 months they are slated to open 5 more stores, creating over 6000 more jobs! More impressively, the retail industry averages 150% employee turnover, but The Container Store averages only 25%!! Learn also, from ACTS Retirement Life Communities, a Continuing Care Retirement Corporation, based in Pennsylvania with additional locations in Florida, Georgia and North Carolina.
Manufacturing Capacity as a Commodity
Excess capacity in an automobile plant at Ford, Chrysler, Toyota, GM, and Honda is a commodity and those who study finite capacity scheduling modules can readily see the possibilities for increased production and that means profit. Einstein said time is relative, that is true, time is relative, manipulating commodity theoretical models allows companies to see thru time and keep costs and purchases on an even keel without the problems of relative time.
How to Keep a Good Employee: Look, Listen, Learn
Recently a client told me a wonderful story about how a change of attitude helped her to keep a valued employee. Angry and grumbling about one of the provisions in the company policy, the employee asked for a private meeting with my client, the owner of a small sales company, and began to tell her in direct terms what was wrong.
How to Fire an Employee
One of the most difficult tasks you will face as a business owner will be firing employees. Employees who consistently break the rules, do not perform the functions of their job, or cause difficulties for your business can be a strain on the work environment, your cash flow, and even disrupt your business from thriving and performing as expected.
My Companys Leadership Sucks!
Maybe it's the season or just a more buoyant job market; but lately I'm sure involved in a lot more discussions about leadership. I'm receiving more requests for help defining the key characteristics which make a great leader; and I'm hearing a lot of negative stuff from clients about their bosses.
Delegate or Die!
You Can't Do It All - Learning To Delegate There is not a single management skill more critical to your personal and professional success as an entrepreneur than learning to delegate. But delegating successfully is much more than simply handing out assignments.
Succession Planning for Your Business - 7 Key Benefits
A core activity in many successful businesses, Succession Planning is simple and quick to implement - here are seven reasons why you will find it of great value in your business or organisation. But, you need to lead - it works only as well as the support it gets! - Time Succession Planning creates capable people.
Communicating with Case Studies
A few weeks ago, a couple of colleagues and I discussed a new business idea. But, we had trouble expressing how this new business would provide value.
The Dog That Didnt Bark
A few weeks ago, after consultations with others in an association I represent, I made a partnership pitch to another organization with similar interests. If the idea comes to fruition, it will radically change our organization.
The Significance of the Mundane
This article begins with a tip of the hat to a scholarly publication called the Journal of Mundane Behavior. Unlike other publications, which herald important issues, this one trumpets everyday, but rarely noticed, behaviors.
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MORE RESOURCES:
Foreclosures drop for 2nd month in February: RealtyTrac
(Reuters)
 Reuters - U.S. mortgage foreclosure filings dropped for a second straight month in February, and notched the smallest annual increase in four years as housing-rescue efforts contained activity, a report released on Thursday showed.
Oil near $82 as traders eye weak US demand
(AP)
 AP - Oil prices hovered around $82 a barrel Thursday in Europe as traders weighed stagnant U.S. crude demand against a gradual global economic recovery.
Obama taps Boeing, Xerox chiefs to lead export body
(Reuters)
Reuters - President Barack Obama, anxious to spur growth and tackle unemployment, will name two top executives from Boeing and Xerox on Thursday to spearhead his drive to boost U.S. exports, the White House said.
India aims to be world's fastest growing economy
(AP)
 AP - Just how fast can India grow? Ask Manal Farooq, who can't make gloves quickly enough.
Geithner warns EU on hedge fund regulation plan
(AFP)
 AFP - US Treasury Secretary Timothy Geithner has warned the European Commission its plans to regulate hedge funds and private equity groups could spark a transatlantic row, a paper reported Thursday.
Japan's 4Q growth weaker than first estimated
(AP)
 AP - Japan's economic growth was weaker than first estimated in the fourth quarter, underscoring a patchy recovery in the world's No. 2 economy.
U.S. dollar still rules, but debt level a risk: S&P
(Reuters)
Reuters - The U.S. dollar is still the most important world currency, Standard & Poor's said on Thursday, but added that rising levels of U.S. debt and dependence on foreigners to finance much of pose risks to the currency's primacy.
Senate passes $149 billion for jobless aid
(Reuters)
Reuters - The Senate on Wednesday passed a $149 billion package of jobless aid and tax breaks, as Democrats continued efforts to lower the 9.7 percent unemployment rate before congressional elections in November.
US Senate adopts aid for unemployed
(AFP)
 AFP - The US Senate has adopted a 140-billion-dollar raft of measures aimed at shoring up unemployment benefits and setting out tax breaks to spur job creation.
California revenue jumps, tax refunds should be paid on time
(Reuters)
Reuters - California's revenue in February was $480 million or 8.7 percent above the estimate in Governor Arnold Schwarzenegger's state budget plan, so tax refunds should be paid on time, State Controller John Chiang said on Wednesday.
Fed recovers, gets new look as financial regulator
(AP)
 AP - The Federal Reserve, still dusting itself off from a fight that threatened to trim its powers, could emerge from a congressional overhaul of banking rules as the top cop over the nation's largest financial institutions.
Roll Call: Senate vote on jobless aid measure
(AP)
AP - The 62-36 roll call Wednesday by which the Senate voted to extend jobless aid, tax breaks to businesses and individuals and money to help financially strapped states pay for health care for the poor.
Wholesale inventories fall while sales increase
(AP)
 AP - Businesses trimmed inventories at the wholesale level again in January even though sales rose for a 10th consecutive month. The dip in inventories underscored that businesses remain cautious about restocking their depleted shelves.
Senate passes jobless aid, business tax breaks
(AP)
 AP - The Senate voted Wednesday to extend key pieces of last year's economic stimulus measure, including help for the jobless and money to help financially strapped states pay for health care for the poor.
Credit card users: Not so responsible after all?
(AP)
AP - With unemployment high and personal wealth diminished, how was it that strapped consumers were paying down their credit card debt last year? It turns out they probably weren't.
Republican Bunning stirs anger with WTO block
(Reuters)
Reuters - A Republican senator who held up action earlier this month on a bill to renew jobless benefits faced more criticism on Wednesday for blocking approval of President Barack Obama's nominee to be U.S. ambassador to the World Trade Organization.
Summary Box: Wholesale inventories trimmed
(AP)
AP - INVENTORIES: Inventories held at the wholesale level fell 0.2 percent in January, highlighting that businesses remain cautious about adding to their stockpiles.
Highlights of Senate jobless aid bill
(AP)
AP - Highlights of Senate legislation extending unemployment insurance and expired tax breaks:
Okla.'s jobless rate continues to improve in Jan.
(AP)
AP - Oklahoma's jobless rate declined to 6.7 percent in January.
Maine jobless rate rises to 8.2 percent in January
(AP)
AP - The Maine Labor Department says unemployment in Maine rose in January to 8.2 percent.
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