Strategic Control

The key concern of strategic control is to check whether the strategy is being implemented as planned and also to observe whether the results are being produced as planned or not. https://ke.linkedin.com/pub/stephen-njenga/42/158/52bhttps://twitter.com/ruchwarsteve

A Review on Major Business Excellence Frameworks | J Dodangeh - Academia.edu

A Review on Major Business Excellence Frameworks | J Dodangeh - Academia.edu

How to Narrow Down a Topic into a Manageable Research Proposal

How to Narrow Down a Topic into a Manageable Research Proposal

1.       Think about what problems are associated with the broader topic and ask:

a.       What are the potential solutions?

b.      What is expected to happen when problems are solved?

c.       What are the possible perspectives for handling this topic? 

2.       Note down the broad topic and try the following to investigate all possible angles and their probable feasibility:

a.       Questioning

b.      Expanding

c.       Exploring

d.      Excluding

e.      Re-questioning

3.       Seek potential relationships between sub-areas of the topic in order to consider possible solutions.

4.       Formulate problems  worthy of pursuit using known information

5.       See what new information or methods are needed to solve the problem more effectively and efficiently. 

6.       Questions all specific strands leading to or away from the topic:

a.       Significance

b.      Known and unknown issues

c.       Possible causes and concerns

d.      Possible solutions

e.      Rationale

f.        History

g.       Novelty

h.      Development

7.       Discuss your ideas with peers, seniors, and supervisorshttps://web.facebook.com/?_rdc=1&_rdrhttps://twitter.com/

3 simple ways to create a stronger team and build customer loyalty by Kathy Cuff

With all of the changes going on in the airline industry over the last few years, it has definitely been more the exception rather than the rule when getting great service while traveling.  However, I had a pleasant surprise a few months ago while traveling back home on United Airlines.

Once everyone had boarded the plane and we were all getting settled in our seats, expecting to hear the flight attendant start making their welcoming and safety comments, the captain himself got on the intercom and started talking to us.  He didn’t stand behind the little wall that tends to hide the flight attendant from the passengers, but instead stood halfway down the aisle of first class and addressed the entire plane.

He welcomed us all on the flight and thanked us for our business and choosing to fly United.  He acknowledged that we have a choice in airlines, and he hoped that this flight would be a great experience for all of us.  He then went on to introduce  the rest of his “team” as he called them,  his co-pilot and flight attendants, saying that they all work together to make the flight enjoyable and safe.  He encouraged us to ask the flight attendant if we needed anything during the flight and thanked us one more time before he handed it off to the attendant to finish all of the safety messages.   As I sat there, I couldn’t help but smile to myself and think how a simple gesture like personally welcoming the passengers set the tone for a pleasant flight and put the customers in a good mood.

So what can your organization learn from this?  Here are three simple ways to create a stronger team and build customer loyalty:

1.    Always look for opportunities to practice what you preach to your employees about making their customers feel welcome by talking to customers, saying a simple hello, asking how their day is, or if there is anything else to help them with.

2.    Remind your employees to look for the 1% better concept—the little things you can do while interacting with customers that may not be a huge thing, but may be huge in the eyes of that customer.

3.    Constantly look for opportunities to praise your team members when you see them delivering great service to their customers.  They will feel valued and acknowledged for their efforts and want to continue to serve their customers in a positive way.

I actually was a little sad getting off the plane at the end of the flight knowing I may not see that pilot again on another flight, but happy that he had restored my faith in the airlines  and knowing there are leaders out there that really do want to make a difference.

About the author:

Kathy Cuff is a senior consulting partner and one of the principal authors—together  with Vicki Halsey—of The Ken Blanchard Companies’ Legendary Service training program.

KCB and VISA INTERNATIONAL in Financial Literacy Deal

KCB Foundation has partnered with VISA International and the world’s largest student organization, AIESEC to run a financial literacy project dubbed ‘Minding Your Money’, aimed at giving youth an opportunity to learn how to effectively manage their money.

Speaking to journalists at the launch KCB Group Chief Executive Martin Oduor-Otieno said the bank’s role in this partnership, apart from the shared financial responsibility of supporting logistics and hospitality, would also include providing facilitators for training sessions from among its employees, setting up sales and information tents at the venues to provide valuable tips to the youth, as well as meeting the costs of merchandizing and publicity.

“This is a very important initiative because the youth of this country form about 60% of the entire population and by educating them we are creating future stewards of this economy. This group has distinctive consumer preferences and spending habits.  KCB, through the KCB Foundation, is committed to supporting the development of entrepreneurship among our people and will spend over Ksh13 million to support this area across the region,” said Oduor-Otieno.

The Chief Executive noted that as widely recognized brands in the financial services sector, touching the lives of millions of people in Africa and the world, both directly and indirectly, KCB and VISA International have a big role to play in financial education in the country and the region. 

A past study by Consumer Insight showed that young people in Kenya spend more than nine billion shillings a year, which is mostly spent on snacks, beverages, educational materials and mobile phone airtime.

However, according to an American Consumers for Education and Competition report, nearly 90 percent of high school students graduate without knowledge of basic financial literacy. The program is designed to teach financial literacy skills not taught in typical school curriculums.

“As key players in the financial services sector, it is our responsibility to take the lead in creating awareness and providing education to the youth on the value of financial services and products as well as the importance of cultivating a responsible financial management culture among themselves. Earnings start while many of these youth are in University – with their allowances, bursaries, research, and part-time jobs. However, ideal management of these resources is lacking and often at this stage a foundation is laid for poor resource management practices in the future,” said the Chief Executive.

Together with VISA, KCB will jointly sponsor a series of one-day financial literacy workshops to be conducted at three universities at a cost of Ksh440, 000. The workshops aim at empowering the youth to make appropriate decisions regarding their personal finances. This being a pilot project, the workshops will be conducted at - University of Nairobi, Strathmore University and Daystar University and will target a maximum of 200 students in each University. Each workshop will run for a maximum of 2 hours with presentations being conducted by financial experts from both KCB and Visa.

http://www.kcbbankgroup.com/ke/index.php?option=com_content&task=view&id=507&Itemid=264

Financial Literacy

Definition of 'Financial Literacy '

The possession of knowledge and understanding of financial matters. Financial literacy is mainly used in connection with personal finance matters. Financial literacy often entails the knowledge of properly making decisions pertaining to certain personal finance areas like real estate, insurance, investing, saving (especially for college), tax planning and retirement. It also involves intimate knowledge of financial concepts like compound interest, financial planning, the mechanics of a credit card, advantageous savings methods, consumer rights, time value of money, etc.

Read more: http://www.investopedia.com/terms/f/financial-literacy.asp#ixzz1t2wIDS95

Investopedia explains 'Financial Literacy '

The absence of financial literacy can lead to making poor financial decisions that can have adverse effects on the financial health of an individual. The advantages or disadvantages of variable or fixed rates is an example of an issue that will be easier to understand if an individual is financially literate. In 2003, the U.S government launched the Financial Literacy and Education Commission. The office is responsible for having resources available for individuals who want to be financially literate.


Read more: http://www.investopedia.com/terms/f/financial-literacy.asp#ixzz1t2wWkOor

The Importance of Integrity

Do you show leadership or financial cancer?

In 1979, I learned an important lesson about the importance of integrity. At that time, my first business was failing. Many of our account receivables were out past 90 days, I owed money to our distributors and back taxes, and I was in danger of not being able to pay my employees.

Still, I was trying to hold on.

Rather than be honest with myself, I kept making excuses. And as rich dad said, “Excuses are simply lies you tell yourself.”

At this time, I sat down with rich dad and he looked over my books. After some tense silence, rich dad looked up, shook his head, and said, "Your company has financial cancer, and I'm afraid it's terminal. You boys have mismanaged what could have grown into a rich and powerful company.”

He went on to say, “You and the three clowns you call partners have mismanaged your business. You don't know what you're doing, you're incompetent. And worst of all, you don't have the guts to admit it. You guys are pretending to be businesspeople but when I look at your financials, you boys are either crooks or clowns. I hope you're clowns, but if you don't make some changes, you clowns will become crooks.”

It was a hard truth to hear, but thankfully I listened to my rich dad, liquidated my business, paid my employees and back taxes, and started over with nothing in my pocket. I wasn’t rich in terms of money, but I had gained a wealth of knowledge and retained my integrity, which is one of the most important things a person can have.

The Age of Integrity

One of the many lessons I learned from my failure was that it's not the lack of money that kills a business. It's more the lack of business experience and lack of personal integrity.

Around that time, I started learning from Dr. Buckminster Fuller, who was considered one of the smartest men of our age.

Dr. Fuller taught that we were entering the age of integrity. Integrity simply means whole or complete. That means that your thoughts, your words, and your actions need to be the same. If you will do that, the future is yours.

If you don’t, you can cause incredible damage in our increasingly connected world.

The power of integrity

This last week, the power of integrity was on display in a negative and massive way when Greg Smith, an executive at Goldman Sachs quit through an Op Ed in The New York Times.

According to Smith, “To put the problem in the simplest terms, the interests of the client continue to be sidelined in the way the firm operates and thinks about making money. Goldman Sachs is one of the world’s largest and most important investment banks and it is too integral to global finance to continue to act this way. The firm has veered so far from the place I joined right out of college that I can no longer in good conscience say that I identify with what it stands for.”

Central to what the firm used to stand for was “teamwork, integrity, a spirit of humility, and always doing right by our clients,” the “secret sauce” according to Smith that allowed the firm to enjoy success for over 143 years.

Living out of integrity

Among 14 values listed on Goldman Sachs website are two important ones:

OUR CLIENTS’ INTERESTS ALWAYS COME FIRST.

INTEGRITY AND HONESTY ARE AT THE HEART OF OUR BUSINESS.

Goldman has a problem today because a high level leader is questioning their integrity. They say one thing but do another. They live out of integrity.

As Smith writes,

How did we get here? The firm changed the way it thought about leadership. Leadership used to be about ideas, setting an example and doing the right thing. Today, if you make enough money for the firm (and are not currently an ax murderer) you will be promoted into a position of influence.

What are three quick ways to become a leader? a) Execute on the firm’s “axes,” which is Goldman-speak for persuading your clients to invest in the stocks or other products that we are trying to get rid of because they are not seen as having a lot of potential profit. b) “Hunt Elephants.” In English: get your clients — some of whom are sophisticated, and some of whom aren’t — to trade whatever will bring the biggest profit to Goldman. Call me old-fashioned, but I don’t like selling my clients a product that is wrong for them. c) Find yourself sitting in a seat where your job is to trade any illiquid, opaque product with a three-letter acronym.

Those actions couldn’t be more opposite than Goldman’s stated values.

How’s your integrity?

As I said, integrity is one of the most important things you can have and control. Each day, you make a decision whether you’ll walk in integrity or not. And in the Age of Integrity, our actions affect others in untold ways.

For instance, Goldman was a major contributor to the financial crisis because they pawned off toxic assets to clients, causing massive financial damage. Their lack of integrity cost investors billions if not trillions of dollars.

Conversely, Greg Smith’s open letter last week caused Goldman Sachs to lose $2.5 billion in market value.

Only time will tell how truthful Smith’s letter was, but I’m inclined to believe an individual who puts his reputation on the line over a firm that settles antitrust lawsuits with the SEC to the tune of $550 million and has a host of other public integrity issues.

But one thing remains true, the Smith/Goldman debacle shows that integrity is massively important in today’s world of business.

While your integrity or lack thereof may not cost people billions of dollars, it is still massively important to your success and the success of others.

A lack of integrity results in broken relationships, lost deals, and a bleak future. A life of integrity results in a multitude of friendships, new opportunities, and a bright future.

So, how’s your integrity?

For more information about building your leadership, integrity and success, see our free, financial education resources here.

Written by: Robert Kiyosaki