Management Diary The Quintessential Survival Guide in the Corporate Quagmire!

Listening Strategically


Usually, we're most interested in communicating outwardly; getting our messages out to others. But finding ways to hear what's going on around us can be just as important.

Let's start by identifying three different types of listening we do. The first type - informal listening - comes naturally, as in listening to another person. I take in what you have to say, and how you say it.

A second type, competitive intelligence, is a systematic process for monitoring sources and gathering information. That information is aggregated, processed to bring out the important points, and distributed to others who can use it to make decisions.

In this article, we look at a third type, a less rigorous approach to competitive intelligence, one that falls somewhere between simple listening and formal competitive intelligence. Call it strategic listening, a relatively simple way to stay on top of issues that affect your organization.

Let's start with objectives, which we normally do when looking at something strategically. Ask two key questions, "Why are we doing this?" and "What will we do with the information we gather?"

The first question focuses our efforts by putting them into the context of our overall goals. The second question, "What will we do with the information we gather?" relates to more immediate issues. It helps us articulate how we will use the material, and that in turn, affects the way we see our objectives.

Next, we need a process for gathering, managing, and storing the information we gather. What sorts of sources? How will we get them? What will we do with the material? How will we store it?

Once we've listened and gathered our information, we need to manage it. All those mounds of paper and electronic files must be boiled down into chunks of information that others can use easily.

This part of the process might involve the selection of excerpts or it might involve writing summaries. It might require an argument or simply a statement of facts that allows others to draw their own conclusions.

The final step in the strategic listening chain is to provide feedback to those who provided raw information, and to get feedback from those who used the processed information (or intelligence) we provided.

Giving feedback to those who provided raw information could be considered a courtesy, and a way of encouraging them to keep supplying us. Gathering feedback from those who used the processed information will help us determine whether or not we met the objectives that got us started.

In summary, one important form of listening is strategic; that is, informally gathering and processing information that helps us stay on top of issues that affect our organizations. The four key steps in this process are: setting objectives, developing processes, managing the information, and gathering and getting feedback.

Robert F. Abbott writes and publishes Abbott's Communication Letter. Learn how you can use communication to help achieve your goals, by reading articles or subscribing to this ad-supported newsletter. An excellent resource for leaders and managers, at: http://www.communication-newsletter.com


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A look at economic developments around the globe (AP)
AP - A look at economic developments and activity in major stock markets around the world Friday:
NY's AG isn't backing down from Wall Street probe (AP)

FILE- In this March 18, 2011 file photo, New York Attorney General Eric Schneiderman answers a a question during a news conference in his New York City office. Although shrugging off the “sheriff of Wall Street” title, Schneiderman stood firm against major banks when he rejected a settlement over the mortgage collapse a year ago, because it shielded them from future investigations (AP Photo)AP - New York Attorney General Eric Schneiderman, a lead investigator into the mortgage collapse that wobbled the U.S. economy, hasn't taken the title "Sheriff of Wall Street" that one of his predecessors rode all the way to the governor's mansion.



Summary Box: Commodities fall on Greece debt woes (AP)
AP - GREEK WOES: Commodity prices fell broadly as a plan to fix Greece's crippling debt crisis remained far from settled, renewing concerns about global economic growth.
Most commodity prices fall on Greece debt woes (AP)
AP - Commodity prices fell broadly Friday after a plan to fix Greece's crippling debt crisis suffered a setback, renewing concerns about global economic growth.
Bernanke urges action to heal housing markets (Reuters)
Reuters - Federal Reserve Chairman Ben Bernanke on Friday issued a call to action to restore U.S. housing markets, saying depressed house prices and sales are a serious drag on the economic recovery.
Obama call for manufacturing revival a tough goal (AP)
AP - President Barack Obama is making a strong election-year push for an economic revival "built on American manufacturing." But he faces an uphill slog, with little consensus even within his own party on how to do it.
Gov't on pace for $1T deficit despite January dip (AP)
AP - The federal deficit was lower through the first four months of the budget year than the same period last year. Still, the deficit is expected to top $1 trillion for the fourth year in a row, putting more pressure on Congress and President Barack Obama in an election year.
Bernanke: Weak housing has hurt consumer spending (AP)

U.S. Federal Reserve Chairman Ben Bernanke speaks about housing markets in transition at the International Builders' Show organized by the National Association of Homebuilders in Orlando, Florida February 10, 2012. REUTERS/David Manning (UNITED STATES - Tags: BUSINESS POLITICS REAL ESTATE)AP - Ben Bernanke says declines in home prices have forced many Americans to cut back sharply on spending and warns that the trend could continue to weigh on the economy for years.



January budget gap shrinks (Reuters)
Reuters - The monthly budget deficit narrowed to $27.4 billion in January from $49.8 billion in the same month a year earlier, partly because some benefit payments normally made in January were shifted to December, the Treasury Department said on Friday.
Anxiety over incomes hits consumer morale (Reuters)
Reuters - Americans felt worse about their personal finances in early February, but rising confidence in the labor market's prospects should help to support spending and the broader economy.
Romney appeals to U.S. business with harsh China talk (Reuters)
Reuters - Mitt Romney slammed China's "autocratic model" of capitalism in a speech to technology executives on Friday, keeping up attacks on the economic powerhouse days before a visit from a Chinese official expected to be the country's next leader.
Housing a "significant headwind" to recovery: Fed's Pianalto (Reuters)
Reuters - The housing market is holding back the broader economic recovery now that foreclosures have become "a national crisis," a top Federal Reserve official said on Friday.
Exclusive: Future of bank benchmark rate under review (Reuters)
Reuters - A global probe into whether banks colluded to set the interest rates at which they borrow money from each other has thrown into question the future of the benchmark they use to price financial products worth an estimated $360 trillion.
Bernanke urges action to heal U.S. housing markets (Reuters)

U.S. Federal Reserve Chairman Ben Bernanke speaks about housing markets in transition at the International Builders' Show organized by the National Association of Homebuilders in Orlando, Florida February 10, 2012. REUTERS/David Manning (UNITED STATES - Tags: BUSINESS POLITICS REAL ESTATE)Reuters - Federal Reserve Chairman Ben Bernanke on Friday issued a call to action to restore U.S. housing markets, saying depressed house prices and sales are a serious drag on the economic recovery.



Spain cuts firing costs in new labor reform (Reuters)
Reuters - Spain cut severance pay for workers on Friday and watered down collective bargaining rights, giving more power to employers as it attempts to kick start its moribund jobs market and slash Europe's highest unemployment rate.
Portugal watches Greek debt drama with foreboding (Reuters)
Reuters - Portugal's economy will shrink as much as Greece's this year, according to IMF projections. The two will have identical current account deficits and the red ink in Portugal's budget will be almost as deep as in Greece's.
Trade deficit widens to $48.8 billion in December (AP)

In this photo of Feb. 4, 2012, a cargo ship, owned by German shipping company Hapag-Lloyd, crosses New York Harbor. The U.S. trade deficit widened in December, reflecting a jump in imports of autos and industrial machinery. For the year, the deficit climbed to the highest level since 2008 as both exports and imports rose to all-time highs.  (AP Photo/Mark Lennihan)AP - Monthly U.S. exports to Europe grew in December, a hopeful sign after a steep decline the previous month. But, some economists remain concerned that the region's debt crisis will still weigh on the U.S. economy this year.



U.S. jobless rate projected to fall sharply (Reuters)
Reuters - Economists in a survey see the unemployment rate falling much faster this year than previously expected, an improvement in the jobs market that could help President Obama's re-election chances.
Consumer mood worsens in February on income worries (Reuters)
Reuters - Americans felt worse about their personal finances in early February, even as they saw a light at the end of the tunnel for the jobs market, a survey released on Friday showed.
Instant View: Consumer mood worsens in early February (Reuters)
Reuters - Americans turned less optimistic about the economy in early February on worries about falling income even as their outlook on the jobs market rose to a record high, a survey released on Friday showed.
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