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The Practical Use of Values and Ethics for Sucess

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Paul mlotok presentation

  1. 1. The Practical Use Of Values And Ethics For Personal Success Presented By Paul Mlotok, President, The Janaka Group _______________________________________The following bullet points found on (pages 1 – 3) represent anoverview and the sequence of the key points and discussion topicswe will be covering during our tele-conference.• Maintaining our personal values and ethics in business can sometimes be viewed as interfering with “getting the job done.”• In fact, it is the very basis of long term success.• The failure and consequences of ignoring values has been shown in the string of corporate disasters in recent years. These were mostly due to the errors, or at least tacit support, of a number of highly placed executives.• One of the key factors in these events is looking for short term results without recognizing the long-term implications. What is gained in the short term is often being borrowed from the long term several times over.© 2003, The Janaka GroupFive Steps To Values Driven Success 1A Workshop by Paul Mlotok Ph.D.
  2. 2. • My own experience on Wall Street showed me the importance of maintaining my values as much as possible, sometimes when there were pressures to do otherwise. This brought me the trust of my clients who were, ultimately, the basis for my continued success. This reputation also made me valuable in the job market as I had this asset to bring with me.• In any given year I may not have maximized my potential income. But, over the long term, I optimized it by staying at the top of my trade for fifteen years.• The same is true for entire companies.• In Search Of Excellence, by Tom Peters and Robert Waterman – studied 62 very successful companies. • 8 Basic Principles - including VALUES DRIVEN “Let us suppose that we were asked for one all-purpose bit of advice for management, one truth that we were able to distill from the excellent companies research. We might be tempted to reply ‘Figure out your value system’.......In fact, we wonder whether it is possible to be an excellent company without clarity on values and without having the right sorts of values.”• Built To Last, by James Collins and Jerry Porras – studied 18 “Visionary Companies” with a long history of success. • Nearly all had a clear core statement of values that people took seriously • Values frequently found include • Integrity • Respect for the individual • Service to the customer • Core values generally included or implied making a profit – but companies whose primary values were making money did not do nearly as well© 2003, The Janaka GroupFive Steps To Values Driven Success 2A Workshop by Paul Mlotok Ph.D.
  3. 3. • I am on the Board of a mid-cap company based in Southern California. In the last few years we have become ever more focused on the character and integrity of the individuals who are on the executive advancement track.• I expect that this is true at countless companies today as they come to understand the consequences of misbehavior by senior managers. People with a reputation for being someone you can trust are becoming a sought- after asset.• The title to this talk is “The Practical Use Of Values And Ethics…” with an emphasis on the word “Practical.” I am not advocating walking off a cliff in the pursuit of perfection.• That which is clearly illegal or immoral is absolutely out of bounds. But many of our decisions and choices will be in a grey zone.• In a few minutes we will do an exercise to define our own Key Values. Imagine that we have done so and that we now have to deal with an assortment of business decisions.• We are each on a continuum in terms of our current actions. Weak Values <--------------------> Perfect Values • We are all somewhere on this continuum in terms of our actions relative to our values. It doesn’t matter where we are. What matters is that we move towards living our values, over time, while we remain effective at our jobs. • The benefits on a personal level will be o The trust of our colleagues and those we manage o A sound basis for customer relations o A good night’s sleep • The benefits to our company will be o Increased business o More productive employees© 2003, The Janaka GroupFive Steps To Values Driven Success 3A Workshop by Paul Mlotok Ph.D.
  4. 4. The Five Steps To Values Driven Success 1. Define a set of values – this is the foundation that creates the vision and intention for the approach that we want to follow, and helps us to clarify what really matters in life. 2. Develop an awareness of when we are making choices that involve these values – this requires that we increase our consciousness about what is happening around us in the moment. 3. Observe the choices that we make and how these correspond to our values – this is a phase of watching and learning about ourselves, 4. Change our choices, over time, to align more closely with our values – this is when we face the challenge of transforming both our outer actions and our inner beings, while finding the balance that allows us to remain effective in our business. 5. Deepen the practices that we have been developing since we first embarked on the Five Step approach - these practices, including contemplation, journaling, meditation and many others, support our commitment to the process of change and accelerate the assimilation and integration of our learning.These steps do not necessarily occur in a linear order. We will move back andforth between them as our understanding develops, each time, seeing morethan we saw before.© 2003, The Janaka GroupFive Steps To Values Driven Success 4A Workshop by Paul Mlotok Ph.D.
  5. 5. Exercise Define three Key Values that you would like to use to guide your decision-making: 1. _____________________________________________________ 2. _____________________________________________________ 3. _____________________________________________________ • Can you think of something at work right now that is not going well for you or your company in terms of achieving a goal, or in terms of work relationships? Choose a situation that you are able to influence. Write this down as if you were telling a story. Include the problem, the players, the environment, who said and did what, the ending, how you thought and felt about it. • Now select one of the Key Values that you chose above – the first one that comes to mind or resonates for you in light of this situation. • View the situation through the lens of that value. How would it change the situation? Write out a new version of the story. • Now think of a second value and think about how this would change the situation. Write the story again.© 2003, The Janaka GroupFive Steps To Values Driven Success 5A Workshop by Paul Mlotok Ph.D.
  6. 6. The Metrics of Values Driven SuccessBy Paul MlotokThe contribution to success of having a set of values that is both clear and wellpracticed has been shown in several recent studies. Prominent among these isthe book Built To Last by James Collins and Jerry Porras. The authors studiedeighteen successful and “visionary” companies along with a comparison group.They found that nearly all of the successful companies had a set of core valuesthat was clearly defined, long-lived and actively practiced.There was no single set that seemed to be the “right” core values foreveryone, but some values that recurred frequently were respect, integrity andservice. The authors also found that virtually all of the companies listedprofitability as a core value, but that companies that went for profits firstwithout also focusing on other values did not do as well. By way of metrics, theshares of the visionary companies outperformed their group of comparables byover six times and the general market by more than fifteen times during aperiod of six decades.In the book In Search Of Excellence, by Tom Peters and Robert Waterman, theauthors studied 62 very successful companies such as Johnson & Johnson,Proctor & Gamble, DuPont and Levi Strauss. They found 8 Basic Principles thatcharacterized these companies. Number 5 was “Values Driven.” In fact, theauthors concluded; Let us suppose that we were asked for one all-purpose bit of advice for management, one truth that we were able to distill from the excellent companies research. We might be tempted to reply “Figure out your value system”........... In fact, we wonder whether it is possible to be an excellent company without clarity on values and without having the right sorts of values.Perhaps the most telling Metric is the numerous recent examples of companiesthat have acted without a clear set of values and have gone bankrupt or haveeven vanished overnight! This goes well beyond measures such as relativeperformance and becomes a 100 percent loss statistic. We have seen of latethat this is a real possibility in the corporate world and that seeminglypowerful corporations can be brought down in a moment when their improperbehavior catches up with them. Giants such as Enron and Anderson are gone,while others such as Global Crossing, WorldCom and even Xerox have faceddamaging investigations into questionable financial practices. An organizationthat is based on values, and expects its employees to act accordingly, is clearlyless likely to find itself damaged by such events.© 2003, The Janaka GroupFive Steps To Values Driven Success 6A Workshop by Paul Mlotok Ph.D.
  7. 7. About Paul Mlotok With over twenty years of experience in the business world, Paul Mlotok became the top ranked oil industry analyst on Wall Street, working for Salomon Brothers and Morgan Stanley. During this time, he served as an advisor to the State Department and to several OPEC oil ministers and was President of the Oil Analysts Group of New York. He was regularly quoted in such publications as The Wall Street Journal, The New York Times, and The Middle East Economic Survey. He made frequent appearances on the business programs of CNN and CNBC, and was a featured guest on Wall Street Week with Louis Rukeyser.After leaving Wall Street he was associated with Global Business Network, aconsulting firm that specializes in Scenario Planning. He is currently on theBoard of Directors of Impco Technologies, the world’s largest manufacturer offueling systems for natural gas powered vehicles.For most of his adult life, Paul has been engaged in a study of the world’smajor philosophical and spiritual traditions. For the last twenty-five years hehas been a student of meditation and the spiritual philosophy that underlies it.The question of how to integrate the values that he has learned with the needto function effectively in the business world has led him to a deep andextended exploration of this subject.Paul holds a B.A. from Cornell University and a Ph.D. in Economics fromBrown University. He now lives with his wife in California and is writing a bookon the benefits of a values-centered approach to work, based upon his ownexperiences as well as the application of time-honored philosophical andspiritual principles.Paul can be reached at: 323.436.0846 or© 2003, The Janaka GroupFive Steps To Values Driven Success 7A Workshop by Paul Mlotok Ph.D.
  8. 8. The Janaka Group helps companies and individuals achieve long-term success through the practical use of values in business. When a company, its managers, and employees all draw from the same set of values, the benefits are twofold:"Your program deeplyexceeded my expectations. Greater Client SatisfactionThe Janaka Group made Increased Employee Commitmenteach of the steps of theprogram very clear using a The Janaka Group helps you to gain these advantagesminimum of jargon and in your business through the use of the Five Steps toplenty of good examples we Values Driven Success.could connect with so theideas didn’t end up being At the organizational level, we help you to defineconceptually abstract.” your company’s values and learn how to implement these values in your everyday activities. This will“Very few times do generate increased productivity in your workforce,seminars deliver what they as well as improved relations with your customers.promise, but this one did.It’s an incredible program."~ Ian Mitroff ~Professor, Marshall Schoolof Business, USC"What I sense is that what Our results driven programs provide youryou gave us is what you executives with a systematic process of:live. That’s so rare that Defining your company’s values employing these values in asomebody actually comes in realistic way to increase business and avoid costly errorsand tells you something andgives you practices that Maintain a calm and clear inner state even in the midst of thethey have really chaos and uncertainty of everyday eventcontemplated and that have Help you take an inventory of your organizations’ currentbeen part of their life. That values, and discover whether these have been properlymakes it so much more translated to your executives and employeespowerful." To Learn More About The Janaka Group visit~ Bob Cooke ~Sr.Vice President, www.thejanakagroup.comUBS/PaineWebber To schedule a complimentary session with Paul Mlotok call: 323.436.0846 © 2003, The Janaka Group Five Steps To Values Driven Success 8 A Workshop by Paul Mlotok Ph.D.