NEW YORK (Xinhua) – Bank of America (BOA) announced Monday to sell roughly 13.1 billion common shares of China Construction Bank Corporation (CCB) to generate approximately 8.3 billion dollars of cash.
The sale accounted for about half of BOA’s current hold of CCB’s shares.
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There are specific strategies and skills that are essential in helping managers to effectively cope with the changing environments and job related pressures and some of these are the following:
- By creating a “shockproof” communication structures. Communication lines must be made available in order to always be the first and not the last to know when something happens in the workplace. It is advisable for people who are able to spot and report about the problems before they become crises should be given due recognition and reward. Educate subordinates about “bad information” to be probably more important than “good information”.
- By developing the skill of seeing things as other people do. Only by being able to identify with others, trust and confidence can be won. Only by seeing their problems from their point of view one can hope to win their cooperation in solving those problems.
- By maintaining “reality-sense”. A manager must be able to see the big picture in order to understand the role in the larger organizational plans of action. Develop the ability to have a clear perspective from different points of view, that is, from the superiors, from the subordinates and from peers.
- By practicing the skills necessary to achieve these strategies. Relevant information is critical for making good decision, do at least three times as much listening as talking, better ask questions than answering and paying closer attention to what people mean to say than to the words they say.
As leader of a sales team, a sales manager is expected to motivate in order to achieve sales goals, to manage and solve problems fast and objectively, to fairly discipline erring subordinates. Most importantly, sales managers need to inspire teamwork and cooperation while maintaining the interest of every member to perform their best.
Enumerated is the second and last series of some pointers which can help a sales manager to also become an effective leader:
- Encourage salespeople to set their own goal. Salespeople usually set their personal goals higher than what the manager does.
- Have salespeople write down their goals;
- Work with the salespeople to make sure their set goals are realistic and attainable.
- Conduct joint field activities with the salespeople at least once a week.
- This will give the opportunity to see how they are doing with their sales presentations.
- Give feedback whether it being positive or negative. Commend what they are doing right and correct what they are doing wrong.
- Show genuine interest in what they are doing.
- Do the power of role playing. Sales meeting should be for learning and practicing sales techniques. Role playing should involve everyone and promote team spirit as it educates.
- Handle conflicts between two people objectively. Bring them together in the office so that they can both tell their stories in front of each other. As a result, be able to gather a more truthful version of the situation and eliminate back stabbing and rumor mongering.
- Have salespeople listen to sales or motivational tapes in sales meetings. This can help boost their morale particularly when faced with rejection.
The new breed of sales managers see situation in a broader scope than the salespeople does. Authoritative style does not work anymore to today’s salespeople. The salespeople of today respond to a teacher, a team builder, a coach.
Read: Attention: Sales Managers – Part 1
There was a researched conducted among some of the well established business entities to determine the contributing factors for their team to succeed in achieving their goals and objectives. The researchers were able to establish the indicators for their success compared to others or their counterparts.
Groups with effective teamwork possess the following specific characteristics:
- They apply investigative questioning that will lead to identifying the real problem or cause of the problem. Whereas, other teams fail because of their inability to identify the real problem that need to be resolved.
- Leaders motivate team members to be creative and suggest ideas. Team members are made aware that even if an idea is declined or revised, they can independently perform original and creative approach without criticism as long as the assigned goals and objectives are delivered without delay.
- They conduct exploratory extensive series of debates for every proposal. Brainstorming, when properly used, is one technique that can lead to more creative solutions to problems.
- Methodical reviews or performance so team members can ascertain which need to be improved. Regular reviews of projects in an emphatic impression of mutual learning that will lead to a formidable quality work.
- The need to explain every group’s decision to concerned individuals whose cooperation is needed. An effective teamwork also reaches out with other group. When a course of action has been developed, there is a need to work with other group to be able to put into effect the change successfully.
In any company, a productive executive is someone who has the ability to persuade or convince others to assist or cooperate. This ability is what is called POWER.
There are various ways to help an executive gain more power or influence other people in the workplace without creating any conflict with others.
Render special services. As an executive assign to a particular department, one should create results or provide favors to other departments that would be recognized and appreciated as a contribution to the organization. Over time, a great deal of respect and support will be gained when needed.
Emphasize visible projects. Get involved with new or particularly important company sponsored projects. Extra recognition will be gained for a job well done and eventually help in winning the cooperation of others later on.
Support the subordinates. To be able to gain respect, full assistance and accomplishment of goals, an executive must first help subordinates to achieve their goals. They will surely reciprocate to provide support during difficult situations.
Cooperate with fellow executives. Cooperation towards peers in more ways than one to accomplish their work will be a big factor to obtain their assistance when needed
Adhere to the common purpose. Many people spend time and money that bear little or no relevance to the organizations mission, vision and purpose. An executive needs to avoid this counter productivity and accumulate a solid track record of profit contribution or other meaningful accomplishments that translate into cooperation of others.
Power is an essential part of an executive’s ability in influencing other people in an organization.
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