Management Blog

A new look at the wealth of nations

India and China have the potential to outstrip the US in terms of per capita income by the year 2048, according to doctor and researcher Hans Rosling.

In this highly entertaining TED Talk video (which features some of the most impressive graphs around), Rosling tracks the economic history and future of Asia.

Time for an ergonomic upgrade

Feeling stiff and sore at the end of the day is a by-product of modern workplaces that can and should be avoided, according to a recent Lifehacker post.

The following tips are offered to help your body feel better at the end of a long hard day in front of a computer screen:

• Eye level - if you're using a laptop invest in a laptop stand to help avoid neck strain
• Standing room - consider introducing a standing desk in your office to give your lower body a break from sitting

• Take time out - take regular breaks and so you don't forget, consider installing software programs like Workrave that remind you

• Use a workspace planner, such as this one developed by ergonomic firm Ergotron

A baby steps approach to innovation

The majority of the world's most successful entrepreneurs aren't innovators, they're minnovators, a recent Harvard Business blog post argues.

According to the post, minnovators combine small doses of novelty with a dash of creativity before embarking on a hard-driving execution process.

It's claimed minnovators have a gift for taking an existing idea and adding a new twist to it; knowing when the time is right to launch a minnovation is the key to getting it right.

Mexican company Cinemex offers an example of minnovation with the successful launch of a new cinema chain. Its main point of difference: lime juice and chili sauce flavoured popcorn.

100 years of Peter Drucker

Peter Drucker (19 November 1909 - 11 November 2005) the writer, management consultant, and self-described "social ecologist"  is widely recognised as the leading management writer of his times.

He accurately predicted many of the current realties of organisational life including the rise of the knowledge worker (a term he created), the importance of innovation to management and the negative and long term impact of excessive executive remuneration. Harvard Business Review dedicated its November issue to his work and has included reprints of his seminal articles.

The Australian Institute of Management pays tribute to the work and impact of Peter Drucker.

In his own words:

• "Management is doing things right; leadership is doing the right things."
• "Effective leadership is not about making speeches or being liked; leadership is defined by results not attributes."
• "Efficiency is doing things right; effectiveness is doing the right things.
• "Executives owe it to the organization and to their fellow workers not to tolerate nonperforming individuals in important jobs."
• "Follow effective action with quiet reflection. From the quiet reflection will come even more effective action." 
• "Innovation is the specific instrument of entrepreneurship. The act that endows resources with a new capacity to create wealth."
• "Knowledge has to be improved, challenged, and increased constantly, or it vanishes." 
• "Making good decisions is a crucial skill at every level."

Recommended reads from Management Books:

• Classic Drucker: Essential Wisdom of Peter Drucker from the Pages of Harvard Business Review
• A Class With Drucker
• The Strategic Drucker: Growth Strategies and Marketing Insights from the Works of Peter Drucker
• The Drucker Difference: What the World's Greatest Management Thinker Means to Today's Business Leaders

Tips for world weary business travellers

Business travel can take its toll, writes Brazen Careerist blogger Penelope Trunk, but a few tricks and tips can help you make the most of life on the road.       

Truck's 'cynical business traveller' tips for include:

• Retain your priorities - don't waste time sightseeing on a business trip, instead stick to your professional 'to do' list
• You are what you eat - ignore the temptation to eat junk food while away, good food will give you more energy
• Choose meetings carefully - Don't agree to useless catch-ups just because you're in the same place as a non-imperative contact
• Work life balance - if you're away for long periods of time make sure you take a day off to catch up on your personal life

And if you're a regular business traveller who always stays in the same hotels you might want to consider this list of the world's best hotel lobbies - a change can be as good as a holiday.

The benefits of urgency at work

A crisis can be your friend writes Harvard University's John Kotter in the recent book A Sense of Urgency (check out the Tedded review).

Kotter urges leaders to act with a sense of urgency on a daily basis but advises them not to act frenetically by instigating action for action's sake. According to the author:

"A real sense of urgency is a marathon, but it's a marathon in that people get up for it every day, and even if they're busy with their normal routine, they find some way to get on the old marathon track and do something.

"If they're so busy they don't have any time to go out to the track, they look for the junk on their calendar, and they eliminate it. And you can see progress every day."

It's claimed the best way to instill a real sense of urgency is to lead by example by not allowing employees to become complacent; managers are also advised to specific about their expectations.

More of Kotter's thoughts on the value of urgency can be found at Bnet.

What's in store for retail in 2010

Australia's retail sector is headed for a post-GFC, new media, niche brand driven shake-up, writes Michael Baker in a recent Age article on industry trends.

A few of the trends speculated to be coming to a virtual or bricks and mortar high street near you include:

• Mobile retail - with smart phones becoming more and more popular a growing number of consumers will shop without leaving their homes or offices
• Cheaper designer labels - many luxury brands expanded their moderately priced labels during the GFC in a trend that's been embraced by consumers and should stick around for some time
• Specialty and concept stores return - in a stronger economic climate fragmented consumer markets will boost demand for niche concept stores and sub-brands
• Way to go DFO - expect more factory outlets to pop up as consumers continue to look for cheaper alternatives to 'full priced' stores

Virtual flu diagnosis tool on the drawing board

Queensland researchers are developing technology that could allow doctors to diagnose the flu and other illnesses via smart phones, Smart Company reports.

The software firstly requires patients to cough into their smart phones; from this point the sound of the cough is analysed remotely to help doctors diagnose illnesses.

Researchers claim the last 100-150 milliseconds of a cough offers characteristics capable of helping doctors identify ailments.

This latest development suggests a health related smartphone trend is emerging.

An iPhone and Android phone application called the Cold & Flu Companion has recently been released to help identify the geographic spread of illnesses.

The world's best packaging

Stackable tissue boxes that look exactly like bricks. Sleek and biodegradable papier-mâché coffins. Pizza boxes that double as art pieces. Soft drink bottles that create a 'branded sound'.

These are just a few examples from Fast Company's list of 12 of the world's coolest packaging designs – well worth a look if you're keen to make a creative statement about your brand.

Think like a freelancer for a career boost

A smart way to bolster your career prospects is to think like a freelancer... even if you're not intending to work as one, a recent Harvard Business blog post argues.

Blogger Gina Trapani writes that freelancers are well placed to prosper, especially in difficult economic times, because they're always on the lookout for what's coming up next.

The following tips are offered to help traditional workers think and work more like guns for hire.

• Do the hustle - freelancers are constantly networking, marketing and following trends so they're aware of what's around the corner
• Time is money - freelancers don't waste time on things that don't matter as they're generally working to an hourly rate       
• More than a bottom line - freelancers are often open to underpaying but interesting jobs, as these projects can be good self-marketing tools
• It's all about reputation - to act more like a freelancer imagine your name is attached to every single piece of work you do