Course Business Impact

The Art of Effective Coaching What five elements compose effective coaching? Ensure your coachee is comfortable. Incorporate your own success stories. Ask coachee for input. Show appreciation. Give feedback appropriately. To what other guidelines must coaches adhere? Base opinions and ideas on observable facts. Never make up data. Present honest, accurate information. And consider opinions with an open mind. Be discreet. Coachees expect privacy. Don't talk about their performance shortcomings or other inadequacies with others. Provide continuing recognition. Employees are more likely to continue to improve when they receive ongoing recognition. Overview/Description Successful organizations employ coaching as a means to improve performance. This impact explores the five steps of effective coaching. Target Audience Any individuals interested in building their coaching skills.

The Angry Caller: What's Your Plan? How can I effectively assist an irate customer? Listen carefully and don't say a word until the customer has finished speaking. Then and only then should you speak. But don't rush the conversation toward a resolution. Take a moment to show your empathy and understanding. The customer needs to know that you care and are committed to helping. Identify the root problem. There could be peripheral issues clouding the conversation, but you need to get to the cause of the caller's anger. You do this by asking probing questions and summarizing your understanding of the situation. Avoid the blame game at all costs. Suggesting that the customer is somehow at fault will only spark another outburst and lose the ground you've gained. Also, don't pass blame to another department within your company or an outside party just to take the pressure off yourself. You can take ownership of your company's mistakes without pointing finge...

Talking Value with Your Customers When talking value with your customers: Understand the value that your organization presents to customers: products, services, reputation, employees, and other differentiators Focus on your customer to gain an understanding of their value requirements Position your company, defining value in the customer's terms, leveraging common values where appropriate Discuss strategic value, people value, and solutions value Characterize the relationship between your company and your client by identifying common themes Provide proof that will back up the statements you make about your solutions, how your customer can develop a competitive advantage, and how your partnership can help the client realize their vision Think broadly to find shared values, competencies, and expertise that will allow you to assist your customer in meeting their goals Share only pertinent information about your company – focus only on aspects of your organization that wil...

Talking about the Competition Tips for communicating the value of your solution over that of your competitors: Anticipate competitive attacks by knowing your competitors well Communicate a competitor’s weaknesses in ways that influence the customer Don’t be negative or defensive about the competition Ask questions about a customer’s interest in a competitor Keep your customer front and center when you sell competitively Allow your customers to draw their own conclusions about the competition Overview/Description Gaining knowledge and insight about your competitors is essential in helping you differentiate your solution. But knowledge is not enough. You have to be able to communicate that knowledge skillfully in the sales conversation. This Business Impact explores tactics for communicating effectively about the competition. Target Audience Experienced sales professionals who wish to improve their skills at communicating about competitors during sales conver...

Succession Planning What are the principal ways in which an organization can maintain competent personnel in key roles and functions? The promotion and retention of appropriate candidates The provision of lateral mobility and the fulfillment of training deficiencies The creation of a nimble, dynamic workforce able to do more with fewer people What strategies allow a leader to develop a competency-based succession plan in order to achieve these objectives? Identify key jobs Develop competency models for critical target and entry-level jobs Assess candidates against competencies for target jobs Make decisions about job incumbents and candidates Develop a human resources management system Develop a career path system Overview/Description Succession planning provides an organization with an understanding of critical roles and functions. Here we discuss the strategies that allow a manager to maintain personnel in key areas. Target Audience Individuals responsi...

Storming: Developing and Leading Your Sales Team What are the signs of a Storming team? General resistance to goals or tasks Defensiveness Unhealthy competition Team division Heightened and unnecessary tension Jealousy How do I cope with a Storming team? Foster respect for all contributions and ideas regardless of individuals' status. Encourage conflict of a constructive nature, setting clear guidelines. Ensure honest communication by setting the standard yourself. Overview/Description Though easily formed, teams do not readily emerge as a cohesive and functioning group. Instead, they progress through a series of phases as individuals acclimate to each other and the challenges they must face together. This Business Impact focuses on a particularly difficult phase of team development: storming. Target Audience Salespeople whose job it is to personally sell products or services in a professional, corporate, capacity, along with those in training for suc...

Six Sigma Versus TQM What are some of the pitfalls of the TQM system? Leadership apathy Lack of integration Unclear concepts and goals Ineffective training What advantages does Six Sigma offer over TQM? Elevation of quality control as a leadership initiative Integration of process management and improvement with daily business activities Clear definitions and unambiguous goals Extensive, in-depth training and knowledge measurements Overview/Description Six Sigma offers a number of advantages over TQM. This impact examines the benefits of Six Sigma as contrasted with TQM. Target Audience Candidates seeking Six Sigma Black Belt certification, quality professionals, engineers, production managers, frontline supervisors, and all individuals charged with responsibility for improving quality and processes at the organizational or departmental level, including process owners and champions

Selling to Key Players How do I develop strong relationships with key players? Identify them as soon as possible. Build rapport with them and their subordinates. Uncover and address their needs and objectives. What are the benefits of including key players? Doing so allows for a better understanding of customers and their needs. Getting everyone involved can often result in larger payback and therefore help justify potentially larger transactions. Facilitating multiple points of contact in the organization helps prevent having to start all over if one key player or decision maker gets fired, is promoted, or leaves the company. Keeping in mind that the decision maker may have more oversight than the people that are directly involved is a crucial aspect of a thorough approach. Doing so saves everyone time in the sales process and allows for a more focused sale. Overview/Description Every company has its key players in the purchasing chain. However, position and title ...

Sales Support Roles for Better Customer Interaction How can companies improve their sales engineers' specific product knowledge? Provide sales engineers with more and better training Assign sales engineers to single product lines Pair new sales engineers with senior ones for mentoring What are some of the post-sales roles that sales engineers can handle effectively? Logistics coordination Project management Engineering Overview/Description Completing "large deal" sales typically requires a team approach. This Business Impact examines the roles involved with such an approach. Target Audience Salespeople whose job it is to personally sell products or services in a professional, corporate, capacity, along with those in training for such roles.

Sales and Marketing: Two Sides of the Same Coin? What are the major differences between Sales and Marketing? Marketing works to reach and persuade customers to purchase products. Sales works to secure and close contracts. What can Sales and Marketing do to better coordinate their activities? Managers must lead an initiative to integrate their departments. Communication between departments must be encouraged and improved. Goals must be aligned to foster cooperation. Product and sales cycles should be synchronized to ensure consistent brand messaging. Overview/Description Despite having similar goals, sales and marketing are often at odds. This impact explores how to improve relationships between the two divisions. Target Audience Salespeople whose job it is to personally sell products or services in a professional, corporate, capacity, along with those in training for such roles.

Safe Small Talk What topics should be avoided in small talk? Politics Religion Overly Personal Issues (health or financial concerns) What topics are deemed safe in small talk? Books or movies Weather Travel anecdotes Immediate surroundings or local points of interest Sports Interests of the other speaker Overview/Description Small talk is a long-standing social convention with understood rules governing which topics are acceptable and which are not. This Business Impact explores the nature of small talk in the business setting. Target Audience Anyone who wants to develop a better understanding of proper business etiquette and how to act in a professional manner

Returning to Core Competencies How will a return to core competencies help my company be competitive in the global market? It results in cost reductions and quality improvements. It allows for reinvestment in core competencies. It provides a unique market-entry strategy. It improves efficiency. It boosts creativity and innovation. It increases customer satisfaction. Overview/Description Every successful company is built on the merit of a product or service. And getting that product or service out into the market requires many interdependent processes some of which are outside the company's central strengths. This Business Impact weighs the benefits of returning to core competencies in light of a planned move into the global market. Target Audience Individuals responsible for leading teams either occasionally, for example as project managers, or more permanently as team leaders or line managers.

Responding to Bad News What are good tactics for responding to bad news? Take stock of your emotions Regulate your breathing, and challenge your self-talk If it helps, reframe the situation Be aware of your own and your client's motivators Read the cues to engage empathetically with how the client is feeling Stay calm and positive. Use appropriate humor Avoid over-expressing or defending yourself Wait until you are composed before having an in-depth conversation Overview/Description How you prepare for and respond to bad news and lost sales can make the difference between a dead end and an even better sales opportunity. This Business Impact explores emotionally intelligent strategies for dealing with bad news and lost sales. Target Audience Experienced sales professionals who wish to improve their ability to deal effectively with bad news

Regaining Your Customer's Trust Any sales situation presents opportunities to build and protect trust – or to damage or break it. Avoid common trust-breaking behaviors: Appearing to maneuver for personal gain at the expense of your customer Not delivering on a commitment Mishandling a request for concessions Unskillfully passing off a customer to someone else Going over a customer's head Impatiently pushing a customer to proceed more quickly Covering up or shifting the blame for a mistake Sharing confidential information about a customer or a competitor When you know you've broken or lost your customer's trust: Manage emotions Clarify the issue Facilitate ongoing communication Take responsibility to act Overview/Description Careless words and actions can quickly undermine the trusting relationships that you work so hard to develop with your customers. When you know you've lost a customer's trust, you'll have to make an honest, conce...

Reframing Negative Situations What are some useful and productive questions to consider when reframing a negative encounter? Do I have a complete understanding of the situation and the possible motivations of the individuals involved? Are my preconceptions and past experiences coloring my perception? Have I considered all the possible interpretations of what is being said to me? Have I acknowledged that my initial feelings are legitimate but need not govern the outcome of the situation? Can I allow for the possibility that time may yield new information that will alter my perception? Am I doing everything I can to aid in better understanding and resolving the situation? Do I have a habit of avoiding uncomfortable situations? Overview/Description People often react to perceived negative situations based on their perceptions and past experiences. Unfortunately, these assumptions and preconceptions can be faulty. This Business Impact explores the technique of reframing ...

Recognizing The Value of Intangible Assets What are three types of intangible assets? Relationship capital – this represents elements of a company's external value, and it includes the following: favorable business relations (customer, supplier, etc.), professional references or affiliations, brand valuation, and company and product image. Organizational capital – this represents elements of a company's internal value, and it includes the following: customized processes that are unique to a company, proprietary information and administration systems, and corporate culture. Human capital – this is another segment of a company's internal value. It includes the following aspects: the competence, skill, experience, and knowledge of employees; and the potential of skilled employees to create additional assets. Overview/Description We operate in an information economy, but current accounting methods are still grounded in the transaction-based economic system of pa...

Recession: How it Affects Business What is a recession? One common definition is a sustained decline in economic activity that lasts more than a few months. Also, significant stock market drops often precede recessions. A more technical definition that economists use is two consecutive quarters of negative growth in the Gross Domestic Product (GDP). To plan an effective strategy for mitigating a recession's impact, what are some of the key external factors companies should monitor? Keeping track of the unemployment rate is important. As rates rise, customer purchasing power declines. And as more people rely on credit to get by, interest rates tend to rise. Monitoring price level changes is also crucial. Increases signal inflation, while falling levels suggest deflation. Tracking global stock market performance is key as well. As a general rule, countries where stocks are performing poorly over an extended period are in a recession. Overview/Description Recession ...

Rebuilding Trust If you want to repair the damage caused by a betrayal and rebuild trust, you need to act immediately by taking these steps: Acknowledge  what you've done :  Consider the ways you have betrayed the other person. Think about how she's feeling and acknowledge that trust has been broken. Assess the situation and consider what damage has been done. Say you're sorry :  Sincerely apologize to the person, expressing remorse and knowledge of your actions and their consequences. Take responsibility for what you've done and express the desire to make reparations. Take corrective action:  Demonstrate that you're committed to making up for the betrayal by making restitution. Take actions that make it up to the person whose trust you've broken. Without restitution, any attempt at rebuilding trust will be hindered. Overview/Description Trust is one of the most important elements of a productive working environment but can easily be broken. Broke...

Quick Wins in Six Sigma Implementation What are the indicators of low-hanging fruit? They have a high ratio of benefit to effort. They take into account time and other implementation factors and are likely to succeed. They can be suggested and implemented during the Define and Measure stages. Data is present to support that a problem or need exists. They promise a considerable return on investment. What are the benefits of low-hanging fruit? Team morale will be bolstered. Processes will benefit directly from new efficiencies. Momentum from the quick win will carry the team forward to greater challenges. What is a potential risk? Negatively impacting related projects or processes. Overview/Description This Business Impact explores how best to select initiatives that are most beneficial to both the project team and the organization as a whole. Target Audience Candidates seeking Six Sigma Black Belt certification, quality professionals, engineers, producti...

Prompting Action through Focused Communication What are the steps for focusing communication? Listen and distill what you've heard and learned. Remain open to challenges, objections, or resistance. Articulate clear, simple, and powerful statements about issues and situations. Connect relevant information. Convey insightful and relevant points that are valuable to the business situation. Cut through complexity. What guidelines should be followed when focusing communication? Plan ahead. Develop a script. Tell a story. Check for understanding. Overview/Description Making a sale is as much about communicating your ideas as it is developing your strategy. This Business Impact explores tactics and tips for focusing your communication in a way that moves your prospect to action. Target Audience Experienced sales professionals who wish to improve their ability to advance their sales by communicating with business acumen

Prioritizing Rewards and Recognition in Call Centers What should a call center agent rewards and recognition program measure? Productivity-based metrics like attendance and call handling time Quality-based metrics like accuracy and customer feedback What are some of the rewards call centers provide to top performing agents? Small cash bonuses Gift certificates Achievement awards Merchandise Advanced training New job challenges Overview/Description Incentives can help call centers minimize agent turnover. This Business Impact examines what makes a rewards and recognition program effective. Target Audience Call Center Representatives, Supervisors and Managers

Prioritizing Personal and Professional Responsibilities What external factors impact work/home balance today? Competition with a Global Workforce International Demands for 24-hour Business Availability Advancements in Communication Technology Changes in Family Dynamics How can I better manage my personal and professional lives? Maintain a Log Explore Work Options Manage Personal Time Ignore Guilt Nurture Yourself Guard Personal Time Build a Support System Seek Qualified Help Overview/Description In today's business world, employees face significant performance pressures. This Business Impact focuses on the challenges business professionals face when balancing the demands of home and office in today's global economy. Target Audience Individuals responsible for managing personnel either occasionally, for example as project managers, or more permanently as team leaders or line managers.

Preventing High Turnover Rates: How to Keep The Best What are the impacts of high turnover? Recruitment and training costs are significant Loss of knowledge and experience reduce workforce efficiency Delays in projects and disruptions to daily routines can hamper business goals Diminished morale can lead to further attrition What steps can managers take to reduce attrition? Managers must focus on employee needs and drives Promotions from within can increase employee commitment Special projects can be targeted to engage employee interests Training can provide a sense of progress and growth Overview/Description While some turnover is unavoidable, companies must take proactive steps minimize its effect. This Business Impact explores retention strategies for holding on to top performers. Target Audience Individuals responsible for managing personnel either occasionally, for example as project managers, or more permanently as team leaders or line managers.

Preventing Agent Absenteeism through Better Working Conditions What are the major causes of call center agent absenteeism? Stress Ineffective hiring screening Inadequate training Inflexible work scheduling Unpleasant physical working conditions Overview/Description Excessive agent absenteeism is an issue for many call centers. This Business Impact examines a strategy for minimizing the problem. Target Audience Call Center Supervisors and Managers

Presentations That Get People Talking When you've conducted your research on a company and are assembling the content for your sales presentation, keep the following guidelines in mind: Don't just wing it. Create an outline and draft presentation. Plan everything, and plan it carefully. Be aware of pacing and participation. Be a storyteller. Remember, a presentation is a dialogue. Don't try to cram the contents of 50 slides into 10. Overview/Description Nothing can halt forward momentum in the sales cycle like a stale presentation. One-size-fits-all slide shows; long, droning lectures; exhaustive rundowns of features and capabilities – all great ways to lose an interested customer. If you want to keep your audiences engaged and intrigued, get them involved in your presentation. Target Audience Sales professionals interested in improving their ability to deliver sales presentations

Preparing for Your Performance Appraisal How should you prepare for a performance appraisal? Become familiar with your organization's performance appraisal process. Rate yourself using your organization's performance appraisal form. Create a written summary of your workplace accomplishments. Gather additional documentation, such as positive client correspondence. Clarify your long-term and short-term career goals. Get into a positive frame of mind prior to your performance appraisal meeting so you can receive constructive criticism without becoming defensive. How should you set the stage for your next performance appraisal meeting? Ask your manager to clarify your goals and how they will be measured. Request the additional training and resources you need to achieve your goals. Propose regular meetings with your manager to discuss your progress toward achieving your goals. Overview/Description Many employees find performance appraisals intimidating. This Bu...

Portfolios, Programs, and Projects: What's the Difference? How are portfolios, programs, and projects defined? Portfolio: A collection of independent or interdependent projects or programs grouped together for management and a specific business objective Program: A group of related projects managed in a coordinated fashion for efficiency sake Project: A finite task with a specific result What is the key focus of each? Portfolio: To categorize and rank the given project or program according to strategic goals in light of resource allocation Program: To achieve the benefits that its parent portfolio outlines Project: To create a specific product, result, or service in keeping with the strategic benefits of its parent program Overview/Description When key business terms are perceived as interchangeable, communication breakdown can occur, costing time and money. This Impact Series reviews the significant differences between portfolios, programs, and projects. ...