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Spring Summer 2011 Edition 23
 

Spring Summer 2011 Edition 23

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    Spring Summer 2011 Edition 23 Spring Summer 2011 Edition 23 Document Transcript

    • Edition 23—Spring/Summer 2011 NEWSLETTER In this edition:WHAT DO THE MOSTSUCCESSFUL LEADERS ASK What do the MostTHEMSELVES IN THE MIRROR? Successful Leaders Ask Themselves inThere comes a point in everyone’s career when the the Mirrorbest way to figure out how you are doing is to step back and ask NAE—Noneyourself some key questions. Actually Exist AcronymsHaving all the answers is less important than knowing what to ask. InsightsVision and Priorities Whose Line Is It Anyway? How often do I communicate a vision for my business? Have I identified and communicated three to five key priorities dunnhumby: A Lifetime of to achieve that vision? Loyalty? If asked, would my employees be able to articulate the vision Distributor or and priorities? Agent?Managing Time Leadership and How am I spending my time? Does it match my key priorities? Self Deception How are my subordinates spending their time? Does that match the key priorities for the business? Need a MeetingFeedback Room? Do I give people timely and direct feedback that they can act The Angel on? From Heaven Do I have five or six subordinates who will tell me things I may or the Horror from Hell? not want to hear but need to hear?Succession Planning Have I, at least in my own mind, picked one or more potential successors? Am I coaching them and giving them challenging assignments? Am I delegating sufficiently? Cont on Page 2 producing results for your businessPursuit NHA International, Waltham Court, hare Hatch, Berkshire, RG10 9AA Page 10118 940 5100 Email: pursuit@pursuitnha.com www.pursuitnha.com
    • WHAT DO THE MOST SUCCESSFUL LEADERS ASKTHEMSELVES IN THE MIRROR?Evaluation and Alignment Is the design of my company still aligned with the key success factors for the business? If I had to design my business with a clean sheet of paper, would it differ from the current design? Should I create a team to answer these questions and make recommenda- tions to me?Leading Under Pressure What types of events create pressure for me? How do I behave under pressure? What signals am I sending my subordinates? Are these signals helpful or are they undermining the success of my business?Staying True to Yourself Is my leadership style comfortable? Does it reflect who I truly am? Do I assert myself sufficiently or have I become tentative? Am I too politically correct? Does worry about my next promotion or bonus cause me to pull punches or hesitate to express my views?ACRONYMS—OUR FAVOURITESAcronyms, whether true acronyms or not, add colour, fun and interest to ourlanguage, enhance communications, can be motivational and inspirational andgreatly assist in memory retention and learning.ALF Always Listen FirstATNA All Talk No ActionDRIVE Define, Review, Identify, Verify, ExecuteKISS Keep It Short and SimpleLAST Listen, Advise, Solve, ThankMILE Maximum Impact, Little EffortPRIDE Personal Responsibility In Delivering ExcellencePICNIC Problem In Chair, Not In ComputerSEP Someone Else’s ProblemTEAM Together Everyone Achieves More Page 2
    • NAE - NONE ACTUALLY EXIST!I have had the good fortune of having worked in FMCGrecruitment for about 13 years. During this period, I have workedfor many businesses on countless different roles. Never in thattime has recruiting a high calibre National Account Executive beenso challenging.The role of a NAE varies from business to business butfundamentally it is used as a support role for the National AccountManager population. NAE level employees are usually beingmoulded to become National Account Managers within a definedtimeframe to ensure a pipeline of talent is available for the topAccount Manager roles.The NAE role is an attractive one, so why on earth are they sohard to recruit? The answer is apparent if you put yourself in thecandidate’s position.You have been promoted, having been a successful TerritoryManager, to the hallowed turf of National Accounts. In this newrole you will be developed, trained and coached towards a fully-fledged NAM role.Invariably the tenure of a NAE is around 12-18 months followingwhich a NAE will move onto an account of their own. With this inmind why would someone move to a new employer only to startfrom the bottom? .... in short they won’t! The risk is too high.So what now? For this role increasingly businesses we areworking with are looking to us to secure talent and potential ratherthan experience. The use of Assessment Centres andpsychometric profiling to identify potential is proving ever morepopular and yielding great results.Target candidates are often 2nd job graduates who are looking fora long term career in sales.So therefore NAE = New Assessment Experience? Mark Akehurst, Consultant Team Manager producing results for your business Page 3
    • INSIGHTSFor several years Pursuit NHA has been using psychometric tools to help buildteams and individuals. The main focus has been on Myers Briggs (MBTI), 16PF,OPQ32 and ability tests which have helped increase the effectiveness of clientorganisations.From June 2011 Pursuit NHA will be accredited to use the ‘Insights’ Discoveryand Navigator tools.At the heart of the system is Insights Discovery, a preference based system withits foundations in the work of Carl Jung. Using colour as a common language forself-understanding, effective interaction and organisational growth, Discoveryrepresents the unique thread running through the entire Insights portfolio.As its entry point, Insights Discovery learning system identifies four colourenergies - Cool Blue, Earth Green, Sunshine Yellow and Fiery Red - andpresents these on a wheel - the Insights Discovery Wheel.Each person uses these colour energies to varying degrees, though it is theunique ordering of the energies that will shape personal style, and it will show apreference for one colour that will indicate the dominant or preferred style ofthinking, working and communicating.Insights focuses on Individual, Team and Organisational effectiveness. It hasspecific applications for Sales and Leadership, for example, Insights SalesEffectiveness is an extensive programme of development for sales professionalswhich is designed to explore a sales person’s mindset, capability and behaviourat every stage of the sale.Available in 30 languages Insights can make a difference to your companythrough self-understanding. Would your results be better by: Building effective teams? Developing transformational leadership? Upskilling your sales team?If you can answer yes to any of these 3 questions then call Andy Ferguson on0118 940 5100 or email andyf@pursuitnha.com for more information. Page 4
    • WHOSE LINE IS IT ANYWAY?We all have our favourite quotes whether they are motivational, in-spirational or just plain funny. We thought it would be fun to testyour knowledge of what we believe to be some of the best.Before we do that let’s look at some of the WORST!!“Rarely is the questioned asked: Is our children learning?” –George Bush“No one will ever need more than 637kb of memory for a personalcomputer. 640k ought to be enough for anybody” – Bill Gates“I owe a lot to my parents, especially my mother and father” –Greg NormanWe are sure that you can think of many more especially from MrBush!Can you match the quotes below to one of the following authors— Nelson Mandela Albert Einstein Mary Kay Ash Michelangelo Winston ChurchillThe answers are at the bottom of page 11.1 – “Success is the ability to go from one failure to another with no loss of enthusiasm”2 – “No problem can be solved from the same level of conscious- ness that created it”3 – “The greatest glory in living lies not in never falling, but in rising every time we fall”4 – “If you think you can, you can. And if you think you can’t, you’re right”5 – “The greater danger for most of us lies not in setting our aims too high and falling short, but in setting our aims too low and achieving our mark”. producing results for your business Page 5
    • DUNNHUMBY: A LIFETIME OF LOYALTY?For readers not at the heart of the FMCG world, here is some insight as to howmajor retailers are stalking their customers.The pace at which shopper data and shopper insight has moved on gives someretailers the visibility of real-time store-by-store sales data of each individual sku.Retailers’ progress in implementing loyalty and data schemes has resulted in asignificant shift to retailers, yielding them even more power. The ability to sellshopper insight to suppliers, rather than vice versa, is a fascinating development.Interestingly, Walmart and most of its international subsidiaries have refused toacknowledge the value of loyalty cards and the data/insights that result. Theirstock response is, these cards are too expensive and a distraction from EveryDay Low Price!Launched in 1995 in conjunction with dunnhumby, Tesco wasone of the first British retailers to develop a loyalty card.The Clubcard scheme is arguably one of the best and mosteffective examples of loyalty marketing and shopper insight.This fits with Tesco’s philosophy which is to ‘create better value for customers toearn their lifetime loyalty’.So, how does it work? Tesco use consumer purchasing data to help betterunderstand its customers and create a picture of the kind of person eachcustomer is. People are segmented into various ‘lifestyle groups’ based onproducts they buy: Convenience Shoppers Mainstream Customers Price-Sensitive Less Affluent Finer Food ShoppersThese groups are combined with purchases to understand when, where, why andhow often certain shopper segments buy certain items, brands or ranges.Data from the card, complimented with initial registration data on where you live,age and family profile, continues to build the picture. Page 6
    • ‘Zodiac’ - a software programme - searches websites and censusdata to build up a socio-economic profile of areas and customers.Up to 45 ‘values’ are assigned to each product bought, theseinclude price position, ethnicity and brand.There are 4 key sections in the database: items, promotions,attributes and customers.The data is sorted around customers and stores, baskets andproducts to identify: Who visited a store during the week? How often? What part of the store they bought from? How old were they? Did they buy promotions etc?At a macro level with such a large penetration across the UK,Tesco can make informed strategic decisions on store-specificranging and merchandising as well as new markets, e.g. mobilephones.Tailored money-off coupons can be sent to customers everyquarter, generating additional sales and encouraging the trial ofnew products 9 million variants of the quarterly Clubcardmailing are distributed.A sample of the Clubcard data is published, available through the‘shop’ system, enabling suppliers to search products andpromotions, monitoring their performance by store and customergroup. Suppliers are now able to gain a quicker and moreaccurate measurement of their campaigns.What will they know about you in 5 years?Key Facts: 16 million families shopping habits can be tracked through Clubcard 6 million transactions are processed each day 100 baskets are recorded per second On-line questionnaires are sent to an attitudinal panel of 65,000 Clubcard holders producing results for your business Page 7
    • IS IT BETTER TO HAVE ADISTRIBUTOR OR AN AGENT?A common challenge faced by many suppliers and manufacturers in the UK ishow networks develop in order to break into the export markets. The underlyingdilemma is whether it is better to market and distribute products through an agentor a distributor – each having specific advantages and disadvantages.Agency agreementsA typical agency relationship arises where the export country agent contracts onbehalf of the supplier or manufacturer (the principal) to arrange sales to customersin their country without retaining any contractual liability towards the customers.The advantage of using an agent is that the principal retains control over how theproduct is marketed and sold, and what after sales service is offered. It is easierfor the UK company to direct the agent’s activities and monitor the success of theproduct launch. The company can also benefit from the agent’s knowledge of thelocal trading conditions and take advantage of the customer contactsdeveloped.The downside is obvious. When employing an agent the UK supplier retains alllegal and commercial risk, for instance, in respect of product liability and disputes,and a statutory obligation to pay compensation to the agent on terminationDistribution agreementsA distributor purchases goods from an a UK supplier or manufacturer forresale to his/her customers. The distributor makes a profit on the marginimposed on the resale of such products and passes title to the products to thecustomers directly. Page 8
    • The advantage of this arrangement is that the distributor retainscontractual liability for the sale of the products and no relationshipis formed between the supplier/manufacturer and the customer,which means that once the product is sold to the distributor, thereis no further liability for costs and commercial risks. These worriesare essentially shouldered by the distributor. The UK company isfree to concentrate on product development and targeting newmarkets.The disadvantage is the lack of connection between the end user– the export market customer – and the supplier/manufacturer. Itis therefore considerably harder for the manufacturer to haveaccess to the customer’s list and monitor trends in the marketwhich naturally affect product development. In the same way thesupplier has little or no influence over the distributor’s marketingtactics or pricing policy.Seek local adviceThe safest route is to seek advice at an early stage from a lawyerqualified to act in the relevant jurisdiction. Not only will this involvethe local legislation in the foreign market but also how terms of anagreement may be challenged or affected by EU competitionwhich has an increasing role to play in respect of cross borderrelationships.Tax liabilities should also be considered, particularly the issue ofwhether or not, by employing an agent or distributor, the overseassupplier/manufacturer would be deemed to have a permanentestablishment in that country. This may be relevant in respect ofwhether or not they would be subject to double taxationregulations and payments due at the end of an agreement. producing results for your business Page 9
    • THE BOOKThe premise of this book, written by The Arbinger Institute (Arbinger is aworldwide institute that helps organisations, families, individuals and communitiessolve the problems created by self-deception), is that Self-Deception determinesour experiences in every aspect of life.The book focuses on how Self-Deception is a central issue in leadership.It tells of a manager, a CEO, a father, and a 19th century scientist who whilesearching diligently for their problems "out there" find that the problem is withinthemselves. The beauty of the book is that its written as a business fable thatfollows one character through his self-discovery and correction. Along the way,youll be drawn in as you find yourself relating to the characters challenges,wanting to know what happens next in order to help yourself.Leadership and Self-Deception sets out to answer the problem: "How can peoplesimultaneously (1) create their own problems, (2) be unable to see that they arecreating their own problems, yet (3) resist any attempts to help them stopcreating those problems?"Whether you are struggling to influence your team or organisation to willinglyembrace change; or find yourself as a parent with a "difficult" child, then this is foryou. This is the story of a new guy 6 months into his new company, attendinghis first review with the boss. He believes that he has done really well since hejoined and is anticipating positive feedback, acknowledgement and Champagne.However, his boss (the enlightened one!) has a different view. What unfolds is ahome truths session that could be you or I... dealing with the essence of why wecreate the problems we do with people.Not until the final pages does the author reveal the solution.Having read Covey, Blanchard, Johnson and Goleman, this is a refreshing anddifferent view of the eternal challenge with people.Pursuit NHA have incorporated some of the insights and mindsets into coachingprogrammes with very positive results.Leadership and Self Deception—Getting Out of the Box by The Arbinger Institute ISBN:-10: 1576751740 RRP £9.99 Page 10
    • A BUDGET FOR BUSINESS . With the chancellors latest announcements to decrease corporation tax by 2% for 2011/12 whilst maintaining the 50% income tax rate band for individuals there has never been a better time for businesses to incorporate. If you need help setting up a business or with practical tax planning opportunities we can help, choosing the right trading vehicle can literally save you thousands in tax! Professionally qualified accountants and tax consultants providing affordable and professional accounts, taxation and business advisory and support services to a wide range of businesses and individuals. To find out more visit our website at www.accountantsinreading.co.uk or call Paul Worthington today on 0118 940 5124 NEED A MEETING ROOM? LOOK NO FURTHER . The Pursuit NHA Conference Centre has 3 meeting rooms suitable for 2 to 30 delegates. Natural daylight in all rooms Unlimited refreshments Free on site parking Quiet, rural location with easy access from M4 and M40, Twyford railway station and Heathrow Dedicated support team Conveniently located between Reading and Maidenhead Internet access For further details, to view the Conference Centre or to make a booking, please contact Nikki Dawson on 0118 940 5100 producing results for your business1. Winston Churchill 2. Albert Einstein 3. Nelson Mandela 4. Mary Kay Ash 5. MichelangeloAnswers Page 11
    • THE ANGEL FROM HEAVEN OR THE HORROR FROM HELL? These are different positions our trained buyers from retail and B2B can adopt in the Negotiation Skills “Meet the Buyer” training module. Pursuit NHA has been developing its Negotiation Skills Programme to enable teams to manage their negotiations more effectively. A modular approach means that different elements of negotiation can be included depending on the skills and needs of the individuals and team. The modules are: Negotiation Negotiation Negotiation Negotiation A Four Stage Types and The Psychology Meet the Buyer Process Tactics Control Understanding Prepare Negotiation Buyer types mindset Discuss Ladder Personality KPIs/Goals Propose Ploys Profiles Pressures Bargain 7 Types of Language Role play Question Non verbal Dealing with conflict communication Each programme is tailored to the individual company’s business and goals. It includes presentation and discussion, individual exercises, team activities and case studies. Negotiation is an area where the benefit of being effective can truly be measured “as a result of understanding our variables we achieved an extra £x of profit” ...“by using the building brick technique we achieved an extra £y per unit” ”understanding the buyer’s mindset and KPIs was key to winning the contract worth £z” Whether you want your team to practise negotiation with a buying professional or understand the negotiation process more thoroughly, call Andy Ferguson on 0118 940 5100 or email andyf@pursuitnha.com.Pursuit NHA International, Waltham Court, hare Hatch, Berkshire, RG10 9AA Page 120118 940 5100 Email: pursuit@pursuitnha.com www.pursuitnha.com