Career Management Career vs. Career Management

• Career o Pattern of work-related experiences that span the course of a person’s life o 2 elements of a career:

objective – observable, concrete environment subjective – your perception of the situation

• Career Management o Lifelong process of learning about self, jobs, and organizations; setting

personal career goals; developing strategies for achieving the goals, and revising the goals based on work and life experiences

o Careers are made up of exchanges between individuals and organizations based on the idea of reciprocity – give and take

Why Understand Careers (3 Reasons)

• If you know what to look forward to, you can be proactive in planning • You need to understand the experiences of your employees and colleagues

o Biggest problem: dealing with peoples’ career goals, may not like the job, 40-50%

• Career management is good business to be in – makes financial sense LO1: Occupational and Organization Choice Decisions New Career Paradigm

• Discrete Exchange o Occurs when organization gains productivity while a person gains life

experience • Occupational Excellence

o continually honing skills that can be marketed across organizations • Organizational Empowerment

o power flows down to business units and in turn to employees who are expected to add value and help the organization remain competitive through innovation and creativity

• Project Allegiance o Both individuals and organizations are committed to the successful

completion of a project

• Claims our generation is more occupational

o 1st job, 3-5 years: experience o 2nd job, more experience and narrow it down o all about training and organizations that will help you specialize in

something Personalities and Changes, Occupational Choice

• John Holland’s theory of occupation choice contains 6 types of personalities and each personality is characterized by a set of interests or values

o Realistic Person: stable, materialistic, persistent Mechanic, restaurant server, mechanical engineer

o Investigative Person: curious, analytical, independent Physicist, surgeon, economist

o Artistic Person: imaginative, emotional, impulsive Architect, voice coach, interior designer

o Enterprising Person: ambitious, energetic, adventurous

Real estate agent, human resource manager, lawyer o Social Person: generous, cooperative, sociable

Counselor, social worker, clergy o Conventional Person: efficient, practical, obedient

Word processor, accountant, data entry operator • Driving assumption behind model: People choose occupations that match their

own personalities • Other influences to occupation choice other than personality:

o Social class, parents’ occupations, economic conditions, and geography Organizational Choice and Entry

• Expectancy Theory o Individuals choose organizations that maximize positive outcomes and

avoid negative outcomes • Conflicts during Organizational Entry

o Conflict 1 between organization’s efforts to attract candidates and the

individual’s choice of an organization o Conflict 2

Between individual’s attempt to attract the organization and the organization’s need to select the best candidate

o Conflict 3 Between organization’s desire to create a large pool of qualified

applicants and the organization’s need to select and retain the best candidate

o Conflict 4 Between individual’s desire for several job offers and the need to

make a good choice • You can reduce these conflicts by utilizing a realistic job preview

o Realistic Job Preview (RJP) Both positive and negative information given to potential

employees about the job they are applying for, thereby giving them a realistic picture of the job

Can be thought of as inoculation against disappointment Reduce uncertainty Way for companies to provide ethically required information to

newcomers Work-life Balance does not exist, more like a teeter-totter

• When work takes precedent, when is it going to stop and personal life take precedent?

• Dual partnerships – LO5 LO2: Foundations for a Successful Career

• 2 ways to develop a successful career: o become your own career coach and o develop emotional intelligence

1. Become Your Own Career Coach

• Package your skills for other employers and make sure they stay state of the art and demonstrate competence in dealing with change

• Stay flexible, team oriented, energized by change, and tolerant of ambiguity o Tolerance for ambiguity is most important

• Behave in an ethical manner, stand by your values, and build a professional image of integrity

2. Emotional Intelligence • Recognizing when it is and is not appropriate to engage in certain things • 40% of new managers fail within the first 18 months on the job because

o they fail to build good relationships with peers and subordinates. o Are confused or uncertain about what their bosses expect o Lack internal political skills o And are unable to achieve the 2-3 most important objectives of the new

job • Men & women with high EI are seen as particularly gifted and may be promoted

more rapidly o EI include: self-awareness, self-control, trustworthiness, and empathy

among others • EI is important to career success in many cultures • Thomas Green did not practice EI (true story)

LO3: The Career Stage Model

• Career – series of stages through which individuals pass during their working lives

• 4 Career Stages o Establishment

Learning and starting to fit into your career Early adulthood (17-39)

o Advancement Increasing competence Middle adulthood (40-60)

o Maintenance Maintain productivity towards career goals Middle adulthood (40-60)

o Withdrawal Retirement or career changes Late adulthood (60+)

LO4: The Establishment Stage

• Newcomer to organization, becoming less dependant on parents, very dependant on coworkers

• Transition from school to work • 3 Major Tasks of the Newcomer

o Negotiate an effective psychological contract o Manage the stress of socialization o Make the transition from organization outsider to organizational insider

Psychological Contracts

• An implicit agreement between an individual and an organization that specifies what each is expected to give and receive in the relationship

o Individuals expect to receive salary, status, advancement opportunities, and challenging work to meet their needs

o Organizations expect to receive time, energy, talents, and loyalty in order to meet their goals

• Also exist between individuals

Newcomer-Insider Psychological Contracts for Social Support

• 5 types of Support o protection from stressors o informational o evaluative (feedback) o modeling (mentor) o emotional (matter or a number)

LO5: The Advancement Stage

• Period when individuals strive for achievement • Several important issues:

o Exploring Career Paths o Finding a Mentor o Working out Dual Career Partnerships o Managing conflicts between work and personal life

Career Paths and Career Ladders

• Definition: sequence of job experiences that an employee moves along during his career

o Career paths of women have moved from working in a large organization to starting their own businesses

• Career Ladder – structured series of job positions through which an individual progresses in an organization

o Self promotion philosophy at Sony o Alternative international work assignments can be used to help individuals

gain international work experience in preparation for higher levels in the organization

o “Career Lattice” – moving laterally through different departments or by moving through different projects

Finding a Mentor

• Definition: individual who provides guidance, coaching, counseling, and friendship to a protégée

• Functions provided by a mentor: o Sponsorship – actively helping the individual get job experience and

promotion o Facilitating exposure and visibility – help protégée develop relationships

with key figures o Coaching – providing advice in both career and job performance o Protection – from politics of organization and damaging experiences

• Characteristics of good mentor relationships o Regular contact o Consistency with corporate culture o Training and managing the relationship o Held accountable and rewarded for their role o Prestige for mentor – considerable influence in the organization

• Need a mentor that’s more than nice, need one that will provide these 4 functions

o Known, upper level of industry/ company o Meet regularly o Not embarrassed to have a mentee o Take you to lunch to meet people

Pat Pitter • Mentor programs help you address challenges of workforce diversity • Types of Mentoring Programs

o Informal mentoring programs o Network groups o Formal mentoring programs o Junior workers

• Mentoring relationships go through a series of phases o Initiation – significance begins to take place o Cultivation – becomes more meaningful o Separation – need to assert independence o Redefinition – occurs if separation ends positively

Dual Career Partnerships

• Relationship where both people have important career roles • Pressures

o time pressure o jealousy o precedence

Work-Home Conflicts

• Can lead to mutual feelings of exhaustion and negativity • Women view it more as work-family conflict • Cultural differences

o China – women suffer more work-home conflict • Ways to manage conflict:

o Flexible work schedule – allows employee discretion in order to accommodate personal concerns

o Company sponsored child care o Eldercare - assistance in caring for elderly parents and/or other elderly

relatives o Telecommuting

• John Beatrice is an example of making his career at Ernest & Young fit around his family instead of his family fitting around his career

LO6: The Maintenance Stage

• Workers continue to grow, although usually not at the rate it was earlier • Some individuals meet this stage and are burned out or with a sense of

achievement and contentment o Either met through crisis or contentment, two issues to grapple with:

sustaining performance and becoming a mentor • Sustaining Performance

o Career plateau – point in an individuals career in which the probability of moving up the hierarchy is low

o Companies provide lateral moves or involve employees in project teams • Becoming a Mentor

o Important to reward mentors o Maintenance is a transition stage – begin to plan seriously for retirement

LO7: The Withdrawal Stage

• Older workers may face discrimination and stereotyping o Stereotype

Less productive More resistant to change Less motivated

o In reality Offer continuity in the midst of change Act as role models Provide experiences Demonstrate a strong work ethic Exemplify loyalty

o Discrimination prohibited under the Age Discrimination in Employment Act • Planning for Change

o Planning transition and activities to be involved in during retirement Temporal top-level executive

o Plan for psychological withdrawal from work • Retirement

o Early retirement o Phased retirement – arrangement that allows employees to reduce their

hours and/or responsibilities in order to ease into retirement o Bridge employment – employment that takes place after a person retires

from a full-time position but before the person’s permanent withdrawal from the workplace

o Never retiring LO8: Career Anchors

• Network of self-perceived talents, motives, and values that guide an individual’s career decisions

• 5 Career Anchors o 1. Technical/ Functional Competence o 2. Managerial Competence o 3. Autonomy and Independence o 4. Creativity o 5. Security/ Stability

Thomas Green Case Thomas Green

• Did not understand risks, clients, culture, fact he has a boss (Davis), or how to take criticism (evaluative)

• Defensive, angry • Did not have a mentor • Questioned if he really mattered

Case Objectives:

• Explore the role that personal work styles and politics can play in the corporate environment

• Analyze the conduct of a new employee and his boss • Evaluate strategies for constructive conflict resolution • Consider a framework for developing productive relationships with one’s boss

Thomas Green’s Current Life Situation

• Describe Thomas Green: o Young, ambitious, aggressive, confident / arrogant o Successful track record as an account executive

• What is going on in his life at the time of the case? o Recently received a double-promotion and 50% increase in pay

• On the fast-track o Has recently experienced some negative feedback in his new job o Message was correct, means was not appropriate

Work Styles

• How would you describe Green’s work style? o Ambitious, very confident, possibly brash

Has no insecurity about being the youngest, least experienced, least educated in this position

o Not really about the details o Independent, seeks autonomy o Does not seem ready to adjust

• Davis’ work style? o Detail-oriented o Team-player: went along with McDonald’s recommendation o Likes to be informed about subordinates work schedule o Prefers communication to be formal and in writing o Expects follow-through on his recommendations and suggestions

Sources of Conflict

• What does each person want? o Davis?

Follow-through and short-term results structure

o Green? Freedom and long-term growth opportunities growth

• How does each person want to be treated? o Davis?

Expects loyalty, support in public, and to be kept in loop o Green?

Expects independence and not to be micro-managed • How should work get done?

o Davis expectations? Frequent written updates

o Green? Sees no merit in such formal updates

• Green is the subordinate, Davis is the boss Green publicly criticized Davis’ forecast

• Praise in public. Punish in private. • Lost all respect from Davis • Figure out how to approach individual, take time to figure it out

o Mentor comes in handy here • Worst mistake he made • Also avoided criticisms the second time around

What would you do?

• Sit down and apologize, don’t leave on a negative note, repair relationships • Options:

o Competition o Compromise o Avoidance o Accommodation o Collaboration

What Green Did

• Competition o Emails criticizing Davis, built and alliance

• Moves to another position through alliances • Won the battle in a way, but lost the war • DERAILED

o lost respect, lost trust, resigned the next year, still unemployed, lost house and girlfriend, and could not get a reference

“don’t wish to comment” is negative

Leading Strategically Change

• 1994 video: what is the internet and the @ symbol? • What will it look like in another 17 years?

o What perplexes you now? Internet services, cell phone service, apps

Change is Difficult

• Status quo is always easier o 80% of people fail at change o only 20% keep new years resolutions

• common implementation problems • 10 commandments

o themes characterizing large-scale change Common Implementation Problems

• Took more time than allocated • Problems surfaced not identified beforehand • Coordination activities not effective enough • Distracting competing activities • Capabilities of involved personnel not sufficient • Lower-level personnel training not adequate • Uncontrollable factors in external environment

Importance of Implementation

• Peter Drucker – making action effective is most difficult • Michael Porter – “any strategy is only as good as its execution” • Mike Tyson – “Everyone has a plan until they get hit.”

10 Commandments 1. Analyze the Organization and its Need for Change

• managers must understand o the operators o how organization functions in its environment o its strengths and weaknesses o how organization will be affected by proposed changes

• analyze organization’s history, particularly if there is a pattern of resistance o Explain change plans fully from one level to next o Make information readily available o Address benefits for end users and for organization as a whole o Ask for feedback and even more feedback o Start small-simple for quick, positive, visible payoff o Publicize successes

• Force field analysis o List forces that are driving us back toward the goal o What do you want to get from the relationship? o Goals for doing this o Prioritize goals o List forces restraining us from our goal

Remove strongest barrier first – often removes ones above it

2. Create Shared Vision – Common Direction

• Unite the organization behind a central vision o What do you want to become?

“Sony’s vision in the early 1950’s: “becoming the company that most changes the worldwide image of Japanese products as being of poor quality.”

o Need to translate vision What’s the business rationale behind it? The expected organization benefits? Personal ramifications – positive and negative?

• Visions & Mission o Vision – a simple statement or understanding of what the firm will be in

the future. A statement of vision is forward looking and identifies the firm’s desired long-term status

o Missions – declaration of what a firm stands for – of its fundamental values and purpose

Because its hard to execute strategy if is cant be describes or understand, firms with clearly understood vision and mission find it easier to make strategic decisions entailing difficult trade offers

o Terry’s Mission The pursuit and dissemination of knowledge for the effective and

ethical practice business • Core Ideology

o Core purpose “NAVSUP's primary mission is to provide U.S. naval forces with

quality supplies and services.” When is the last time you truly evaluated that purpose?

Much like corporations stating that the core purpose is to “maximize shareholder wealth”

Take the heart of it, “we provide quality supplies and services,” and ask yourselves 5 times “why” this is important.

“To deliver combat capabilities through logistics.” “to provide the best market research data.” Why? “so that our customers will under their markets better than

otherwise.” Why? . . . .Why? “to contribute to our customers’ success by helping them

understand their markets.” They now frame change questions into “will it make a

contribution to our customers’ success?” 3. Separate from the Past

• Difficult to embrace a new vision/future/reality until the organization has isolated structures and routines that no longer work

o Reinforces aspects that bring value to the new vision Heritage, tradition to provide continuity amid change

4. Create a Sense of Urgency

• Not difficult to do when facing bankruptcy • But what if need for change not generally understood at lower levels?

o Change leader needs to use a deft touch to create that urgency Don’t want to appear to fabricate or cry wolf

o You see very real threats requiring deep and rapid action. But those below you, the implementors?

Need isn’t as drastic – requiring little action OR Need is even worse – requiring even faster movement

5. Support a Strong Leader Role

• Who are your champions for change? • Is it just you?

o These are individuals that.. Motivate personnel to embrace the vision Craft means that consistently rewards those who strive toward the

realization of the vision 6. Set Up Political Sponsorship

• Broad support throughout the organization o Representative, not unanimous support

• Key sponsorships o Upper echelons exude that change is high priority o Actively seek backing of informal leaders o At this early stage, most important to determine precisely whose

sponsorship is mission critical

• Strategic Leadership o Effective strategic leaders can develop a vision of the future and inspire

stakeholders to commit to sharing it Strategic leaders use their team of managers to help make major

decisions – especially to define and implement a vision for the firm and its strategy

7. Craft an Implementation Plan

• Nuts and bolts advice o what to do, when and how

• Best kept simple o Overly ambitious is demoralizing, not helpful o Break change intro staggered steps

Too much at once creates burnout, cynicism o Specific goals, and detail clear responsibilities to achieve them o Input from all levels

• Vision, Mission, Leads to Change Implementation

o Vision and Mission Fundamental purpose Values View of future

o Strategic Goals and Objectives

Specific targets Measurable outcomes

o Both lead to effective Change Implementation 8. Develop Enabling Structures

• Things that facilitate and spotlight the change o Practical and symbolic things such as whether to

Use pilot studies Be as participative throughout the change as the goals might

warrant

9. Communicate, Involve and Be Honest • Leaders should communicate openly, and seek out the involvement and trust of

people throughout organization. o Full involvement, communication and disclosure are not called for in every

change situation o But these are powerful tools for

Overcoming resistance Giving personnel a personal stake in the outcome of the change

10. Reinforce and Institutionalize the Change

• Make it a top priority to reward o Risk taking

Video – more companies rewarding failure to help people be more creative, edgy risk

o New behaviors consistent with change Book Notes Changes in Corporate Governance Have Reformed the Role of the CEO in Strategic Leadership

• Most visible change to the role of CEO is the division of the CEO role from that of the chairperson of the board of directors

• Basic question: “Who has the power?” • U.S. firms have been naming former CEOs with no affiliations to the focal

company to fill the chairperson role creating confusion fro shareholders as to who is actually in charge

• Companies have divided the roles and have hired strong external chairpersons of the boards

• This has led to a decrease in the CEO’s power and an increase in power sharing among board members and the CEO in regard to overall strategic responsibilities and direction of the company

• The CEO is not only accountable to shareholders, but also more accountable to a chairperson or a lead outside the director who can consult with an increasing number if independent outside directors on boards regarding important strategic issues

• Power sharing has occurred because of more diffuse supply chains

o Strategic leaders find that they must manage with more involvement of employees and managers of these complex partnering agreements

o These are necessary to manage a large firm both domestically and globally

Strategic leadership – developing a vision for the firm, designing strategic actions to achieve this vision, and empowering others to carry out those strategic actions

• Strategic leaders are involving people throughout the firm as well as other governance participants and other stakeholders

o Board of directors and suppliers/ customers o Anyone playing a role in carrying out the strategic actions is a strategic

leader • Important Strategic Leadership Actions

o Establishing the firm’s vision and mission o Developing a management team and planning for succession o Managing the resource portfolio o Building and supporting an entrepreneurial culture o Promoting integrity and ethical behavior o Using effective organizational controls

Establishing the Vision and Mission

• Vision contains two components o 1. Statement describing the firm’s DNA and the “picture” of the firm as it

is hoped to exist in a future time period o 2. Mission – defines the firm’s core intent and the business or businesses

in which it intends to operate; flows from the vision and is more concrete in nature

• Visions can differ across firms by new products or markets o Steve Jobs

• Other firms have simpler visions even though they still may be difficult to achieve • Strategic leaders develop a vision and inspire stakeholders to commit to

achieving it o Employee commitment is essential too

• Use their team of managers and others to develop a vision Developing the Top Management Team and Succession

• Top Management Team o Definition – group of managers charged with the responsibility to develop

and implement the firm’s strategies Officers of the company with title VP or higher

o Typically select people who think like them and are more likely to agree with them, but it is important to select people who see and think differently

o Homogeneous team – team of people with similar backgrounds o Heterogeneous team – team members have different types of educations

or varying amounts and types of experience • Management Succession

o Must develop people who can succeed them o Screening tests to investigative development programs

o Majority of CEO successions are from the inside = “hiring from the inside” Motivates employees Often new CEO does not change strategies

o When new CEO chosen from outside, often done to change strategies o Sometimes hard to tell whether succession is done from inside or outside

Many companies do not have succession plans and therefore must turn to the outside

o Important to have strong succession plans and strong training programs Managing the Resource Portfolio

• Resources are the basis for the firm’s competitive advantages and strategies • Intangible capital may be more important

o Human capital o Social capital o Organizational capital

• Human Capital o Intellectual property developed here o Definition – includes the knowledge and skills of those working for the firm o Focused on learning:

Training programs “Fail better than others.”

o Strategies based on human capital • Social Capital

o Includes all the internal and external relationship that help the firm provide value to the customer and ultimately to its others stakeholders

o Internal Social Capital – relationships among people working inside the firm

o External Social Capital – relationships among those working within the firm and others outside the firm

Provide access to needed resources Help firms enter new markets

o Most effective social capital is when partners trust each other Well developed relational skills

• Financial Capital o Some believe good human and social capital lead to this

Building and Entrepreneurial Culture

• Definition – encourages employees to identify and exploit new opportunities o Encourages creativity and risk taking while tolerating failure

• Innovation is important in high technology industries such as computers and creative industries such as music and film animation

o Steve Jobs has been a pioneer in introducing new products to the market o Innovation and profitability: General Mills healthier products

Promoting Integrity and Ethical Behavior

• Strategic leaders serve as role models in meeting and exceeding standards they’ve developed for behavior among employees

o Determine the boundaries of acceptable behavior o Establish the tone for organization actions

o Ensure that ethical behaviors are expected, praised, and rewarded • Opportunistic Behavior

o managers making decisions in their own best interest rather than the firm’s best interest

Enron and Tyco • Corporate Governance

o how firms govern themselves o Begins with board of directors o Sarbanes-Oxley Act requires greater managerial responsibility for the

firm’s activities and outcomes • Related-party Transactions

o Paying a persona who has a relationship with the firm extra money for reasons other than his or her normal activities on the firm’s behalf

o Securities and Exchange Commissions carefully scrutinizes these deals o Frauds like these can be worse than opportunistic management

• If leader acts unethically, followers are more likely to do the same. Using Effective Controls

• Controls are necessary to ensure the firm’s standards are met and that employees do not misuse the firm’s resources

o Guide managerial decisions • Financial Controls

o Focus on shorter term financial outcomes o Maintain expenses within reason and remain financial solvent o Generate an adequate profit o Managers often limit expenditures more than necessary

• Strategic Controls o Focus on the content of strategic actions rather than on their outcomes o Best employed under condition of uncertainty o Must have good understanding of industry and markets in which the firm

or it units operate in order to evaluate the accuracy of the strategy o 4 major reasons that pertain to strategic controls re given as reasons for

growth stalls premium-position captivity: inability of a firm to respond effectively

to new, low-cost competitive challenges or to a significant shift in consumer valuation of product features

breakdown of innovation management systems premature abandonment of a core product or strategy human resource talent

• Balanced Scorecard o Provides a framework for evaluating the simultaneous use of financial

controls and strategic controls o Focuses on 4 areas

Financial – profit, growth, shareholder risk Customers – value received from firm’s product Internal Business Processes – asset utilization, inventory turnover Learning and Growth – culture that supports innovation and

change o Strategic leaders ensure execution of controls

o Periodic assessments o And continuous assessments

Mini Case: Was There Strategic Leadership Failure at Boeing?

• Boeing – historical leader in manufacturing airplanes • Airbus won the competitor battle in 2001 • Boeing – flawed strategy, lax controls, a weak board, and shortcomings in

leadership o CEO was Philip Condit o Failed to understand competitor Airbus o COO Stonecipher had a “consensual relationship” with a female board

member violating company ethics • Sought to balance financial controls (improve its performance today) and

strategic controls (develop innovative products and processes with a new model) in order to create improved success

Charlotte Beers Illustrates 10 Commandments Case Learning Objectives

• Complex, often chaotic, process of formulating a visions or new direction • Need for massive communication to align constituencies to the new direction • Need to align structures and systems to the new direction

Why was O&M having problems? Forces for change

• Industry context o Declining media expenditures; fee was 52% but declined to 15% in 10

years o Increased targeted marketing channels due to technological changes o Increasing mergers and acquisitions o Globalization – greater expectation of marketing across globe

Eastern Europe and China Wall broken down, new market opened 10 years ago: China was 2% of global market, now 42%

• Internal to the Organization o Success bred strong, arrogant culture; managers became internally

forces; bureaucracy stifled initiative and innovation o Leadership vacuum; four chairman incapable of inspiring and integrating

firm’s resources across boundaries Managers now leader

o Take over by WPP caused many creative people to leave and severe moral problems; critical account losses

Management vs. Leadership

• Leader – take pride in what you do, take initiative, people listen to you, maintain composure in high stress situations

• Good managers but not good leaders • Only one person can motivate you and that is yourself

o Leader can provide the situation and tools 1st Commandment – O&M Problems

• Evaluate her first few months • Need benchmark to evaluate

o Move quickly to diagnose underlying problems Spoke with dozen of clients

Flagging Confidence and Lack of Direction o Take initial corrective actions that are visible

Operating margins jumped to 7.6% and got Jaguar and AmEx Immediate credibility

o Create a sense of urgency Communicated client feedback bluntly and fired top executives who

openly resisted her Radical departure from “civility” norm

2nd Commandment - Vision

• What is your assessment of it? o To be the agency most valued to those who value brands.

• Clear, original, makes sense, meets internal/external needs, what are they? • Why so important?

o Remove parts that don’t help you accomplish this • Values – unify people, sense strategically

o Work for the brand o Knowledge is power o Line between confidence and arrogance is a fine one, arrogant or informed

• Brand stewardship was created by her • BHAGS – Big Hairy Audacious Goals

o Important for CEOs to come up with these o where you want to be in 5-10 years

• Translating Vision o End of first 12 months o Moving forward

PIRK

• PIRK o Power – empower people to make best decisions, trust them o Information – need to inform them to make good decisions o Reward – reward them to continue progress; reinforcement, manners o Knowledge – engage in something new and different so do they

necessarily have the necessary knowledge and training to do this? • Constantly in the forefront and being managed • Package, all 4 must be in place high involvement • End goal – will have change in organization, get people involved in their work,

especially in crisis situations – get people to think about organization, not just themselves

Leadership Style

• Transactional – tell you what to do • Transformational – let you do it (Beers)

3rd Commandment – Separating from the Past

• What happens next? o Structural – globalized o Staffing – key players? o Systems – promote brand stewardship

Mr. Pat Pittard 21 Steps to Financial Independence 1. Location can’t matter

• North Dakota – most vibrant economy in US 2. No Restricting Relationships

• do not take the second best offer because of someone else 3. Show Up

• on ice day Monday morning and stay late 4. Break Rules

• ask for forgiveness not for permission 5. Add a 0

• debt is effective business tool, awful personal tool 6. Never Eat Alone

• take advantage of every hour in the day 7. Colleagues are your Competitors

• fraternity ends on graduation day 8. Salary good, Equity better, Equity Event best

• instead of paying me $150,000, pay me $125,000 and give me $25,000 for stock options

9. Buy Things that Increase in Value • don’t buy a new car, economically stupid

10. Live in Chapters • cut your life vertically and concentrate on things for your chapter • work-life balance: get to a high responsibility level to have flexibility in your

career 11. Read, Read, Read 12. Make a Statement

• posture, and dress better than everyone else • opportunity with apparel to make a statement • mediocre people surrounds themselves with mediocrity

13. For love, buy a dog. Then give it away. • Place to find colleagues as a coworker

14. The Government is Your Enemy • ill to prevent success, 35% tax • massive amount of regulation, most communist countries don’t have as much • 14 Fortune Companies moved outside the US • military and NASA done very well

15. There is No Weekend 16. All Business is Sales

• every person is trying to move organization forward • sell your position

17. Smart Old Folks Are Smarter • put wisdom in your portfolio • build friendships with people who have already experienced life cycles

18. Learn the Art of Being Remembered • Art, process: conversation, business or not, remind speaker his comments are

important • Memorable name

19. Leverage Pro-Bono

• not involved in not-for-profit if it cant leverage business needs • people on ballet board very influential and made connections

20. Do Favors • favors are cyclical

21. Don’t make your best tool your worst enemy. • Don’t hide behind technology – computer, iPhone

Our Generation

• Smart, drive, work hard, sense of presence • Cynical is not attractive

o Negative and hurtful • Not tough enough

o Avoid a no, cant stand to be rejected o Cant handle rejection or failure

Jim Timberlake As we get older, we are afraid to follow our dreams

• Repress our ideas and goals • Let somebody else’s attitudes affect our actions

How do you turn your dreams into a reality?

• Apple computer and Chick-fil-a o No money or college education o Probably told they couldn’t do it

Real Estate Education at UGA

• Real estate career started with a scholarship • Went to graduate school when friends got jobs • Real estate investment business

o MBA, 17 interview, first job: broker on commission, $11,000 Passion was in development

• 11 years, salary for 18 months • learned you don’t change people, and walked away – boss did not have best

reputation Started Abernathy & Timberlake Investment Group

• Target development • Developed 3 million sq. ft. of space • Process of development

o Map out best location o Engineering, architect o Attorney to sign leases o Ready to close

• Office Organization o 5 partners, different talents o 5 associates o small company doing big projects

• Outside vendors o Attorneys, engineers, architects, brokers o Good relationships, respect o Get to look at the deals first

• Tenants o Not always the best/ easiest o Claims not consistent with the lease agreements o What can we do for you? And they did it.

Key is a good relationship

• Even though you may be right, end result doesn’t pay off when you slam them. Be passionate and follow through with what you want to do. Necessary Steps

• Set goals and revisit them o If you let one goal dominate you wont be happy o Balance your dreams

• Don’t get discouraged • Identify a mentor

Steve Jobs – “Remembering you are going to die … no reason not to follow your dreams.”

Into the Fray by M. Ellen Peebles Michael – protagonist successful in beverage company position

• Currently in a paranoid state, personal life • Dilemma to take CEO position in china

Apply Pittard’s criteria to 4 commentaries Principle 1 – Work-life balance

• Sequential? Or in chapters? • Doesn’t exist but Timberlake would disagree • Michael – trying to have one

o Focused on his career in company o While wife is working, its about him and his career

• Commentaries o Pittard would say dump her o Timberlake agree with commentaries

• Commentaries o “negotiate job for his wife in China – she’s sacrificed a lot” o “he and his wife have to decide whether they both want him to build a

career in Lafleur.” o “She needs to be part of goal setting process” o “they should define and discuss their individual and collective needs.

What if anything could Karen do in China? Principle 2 – Location cant matter

• Get an opportunity, take it no matter what • Take risks, build experience • Michael – now is the only he’s had to prove this • Commentaries – agree with Pittard

o Timberlake would be more weighted to personal side of things • Commentaries

o China strategically important to Lafleur; shows great confidence in his abilities

But should negotiate o Chance to show that the he is “one of their own”

Creates strong future opportunities o Stellar career-development opportunity

Taking on job beyond current capabilities but find way to deliver o To be successful global executive, need to go global

Should find out more, though, before agreeing Principle 4 – Add a 0

• Stretch goals • Michael – had had been doing this so far?

o Getting the numbers but not politically aggressive o Danielle doing well in Lafloure but not Michael o China is his first opportunity to add a 0

• Commentaries – hinted at agreeing

o You cant not play politics o Most politics are good o Is Danielle playing politics or taking care of business?

Looking out for herself and there is nothing wrong with that Principle 5 – Never Eat Alone

• Network with higher position people, new-clients • Michael – difficult to tell but at Lafloure definitely eating alone • Commentaries agree he hasn’t done this

o “disadvantage because he has made little effort to build relationships with his new colleagues.”

“repair relationship with Danielle” o “Michael needs to grow up. Power dynamics in any large org.”

Mgt. is more art than science and dealing with human side of enterprise is a large part of success”

o “Needs to gain a greater appreciation for the social alliances that make org. run”

“he frets and looks for excuses” o “Reluctant to talk with people; base things on hearsay not fact”

Principle 7 – Show Up, be early, stay late

• Get remembered • Commentaries – CEOs don’t ask you to take a mini CEO position in China if youre

not doing this Principle 9 – Make a Statement

• Dress professionally, brand yourself • Handwriting a thank you note for whatever the event is the number 1 way to be

remembered • Michael – did something to have the offer

Principle 10 – Looking for Love, Get a Dog

• It’s not about making best friends, but building a network through trust and competency

• Build acquaintances not friends through work • Timberlake – disagrees, friends in work • Michael – Campos, yes; Laflour, no • Commentaries

o “He hasn’t shown himself to be terribly adept at politics.” “Winners play a better game.”

o “He needs to grow up. If and when he gets to Paris – which is what he seems to want – ambitions may be even more apparent; it’s headquarters after all.”

o “other factors come into play in assessing performance – intangibles such as trustworthiness, initiative, talent for coping with ambiguity, and ability to look beyond functional interests”

o “Michael needs to learn that politics is merely a normal state of affairs and is not an unhealthy aspect of organizations”

Principle 11 – There is no Weekend • obviously followed

Principle 12 – All Business is Sales

• Convincing others = sales • Michael used wrong tactic by selling his numbers • Get noticed at your best then work on interpersonal skills • Commentaries disagree

o “If I keep producing,” he reasoned, “it’ll be obvious that I have the chops for the job.”

o “My numbers speak for themselves. I don’t think I have anything to worry about.”

“That’s where you are wrong, my naïve friend. Yes, numbers matter, but they don’t speak. Danielle – she speaks.”

Principle 13 – Old folks are smarter

• Older people have more experience and a better perspective • Michael – Leflore: no, not connecting with anyone and getting any important

information • Reach out to more than your parents • Commentaries

o “He should sit down with the CEO in Paris and reach a written agreement before accepting job.”

“needs to promote accomplishments once in China” o “Just because he plays golf with CEO and produces #s doesn’t means he’s

going to do well” o “His belief that the #s should do the talking restricts him to a very limited

view of organizations.” o “Needs to learn how to participate in that world and how to pursue his

own agenda in an intelligent way Principle 14 – Being remembered

• Better at Campos than now • Michael

o Probably okay at Campos but failing now o “He just wanted to do his job – that’s what he’s paid to do, and it’s what

he liked to do.” o Blew off Danielle who was legitimately reaching out to him

Principle 17 – ask for forgiveness, not for permission

• Needs to do this in China o This is what will be needed to be the “mini-CEO” during this time o And point out once more that CEO would not ask “any old somebody” to

do this – must have a lot of confidence in Michael