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Lessons on Leadership
Transcript of Lessons on Leadership
The 7 Fundamental Skills for Levels at all Levels About the Author Jack Stahl, the author of Lessons on Leadership
(The 7 Fundamental Management Skills For Leaders at All Levels) is a highly successful business executive best known for his roles as the Former President of Coca Cola and current CEO of Revlon. Under Stahl's leadership, both companies have undergone transformations that have made them significantly more successful. What is this book about? This book focuses on the seven leadership fundamentals that Stahl feels is imperative to achieve organizational success. Each fundamental is also known as a "Framework," in which he relates personal leadership styles, insights, and experiences to help the reader to better understand how to take use of the fundamentals to maximize success in their own organizations. Catalogue Card
Book Review Catalogue Card
Title Lessons on Leadership: The 7 Fundamental Management Skills for Leaders At All Levels
# of Pages 218 Table of Contents Framework 1 Framework 2 Framework 3 Framework 4 Framework 5 Framework 6 Framework 7 Leadership and Management Page 1 Creating a High-Capability Organization Page 29 Developing People Page 61 Brand Positioning with Consumers Page 83 Customer Relationship Management Page 107 Financial Strategy and Management Page 133 Influencing People Page 159 Chapter 1 Chapter 2
In addition, these are the building blocks for a high capability organization:
1. Be visible to the people in your organization.
Be a personal and caring leader, show your organization that you are dedicated.
Assist employees to understand the skills they need to perform their best.
Better communication means more success
As a leader, an ultimate goal should be to make your people more effective than you.
2. Recruit and assign jobs based on necessary skills.
The interview process is very critical for recruiting the right people.
3. Invest and focus on diversity.
Leaderhip Insight: Success is often the result of different ideas arising from different perspectives.
In creating a high capability organization, even the best leaders can never forget that without the right people, an organization will not reach great achievements. Leaders need to maintain clear communications among an organization, be personal with employees, realize the right people for the right tasks while striving for a diverse workforce to create a high capability organization. Chapter Summary- Framework 3
1. Understand the difference between "core skills," and "exposure."
2. Create opportunities for both "project" and "process" experience.
3. Use an effective method for feedback and appraisals.
Make the individual feel valued.
Use self-reflection methods
Provide clear feedback on what you what improved.
Agree on an area of focus
Agree on the benefits of improving, and consequences if not improved.
Encourage and reiterate the value of the individual
4. Use control systems as controls in development.
Create opportunities for learning, discovery, and continued development.
5. Be situational with management style.
Use Contingency Thinking
6. Manage compensation strategically.
Use pay as a reward to encourage strong performance, show that you are paying attention to the individual.
7. Use mistakes strategically.
Stahl says the best way to prevent a mistake from happening again invovles someone finding their way out on their own- even if the process is difficult. Chapter Summary- Framework 4 A "brand" represents a promise to consumers about what to expect from a product or service.
Brand positioning is the process of enstilling that promise into the mind of consumers. The main idea in this chapter is that setting specific approachable goals and executing them properly will drive the organization to success.
A good leader is someone who has a clear vision of what they want done. From there, they set specific goals that employees can picture and be enthusiastic about.
These goals can be set with ideas from employees at all levels. However, these goals are also bold and aggressive ones that motivate employees to work to their best.
After a goal is set, the plan should be one that addresses all points stated above and is achieved through clear communications and understanding of those in your organization.
When executing, there needs to be focus on the small things that could have the biggest impact and while doing so, have a system that measures and controls progress.
Lastly, remember to always stay in close touch with your employees, your people.
Understand them, get to know them, and make them feel that they are recognized and important to you.
The basics Understand what your brand specifically promises to target consumers.
Realize who EXACTLY the target market is and strive to understand and meet their needs.
Create a clear yet concise "positioning statement" that well represents your brand as well as its promise to the consumer.
Create a name and visual appearance for your brand that captures and instills the essence of your brand in the mind of consumers. (Trademark, logo, phrase, etc.)
Identify business and marketing activities that can deliver the promise to the consumers, strive for a personal connection that speaks out and relates to the consumer.
Use resources efficiently Excellent marketing isn't about awards and beauty.
It's actually about being able to build an unbreakable and trusting bond with your customers while delivering your brand's promise to them in a way that returns desirable behavoir and perception from your target consumers. Chapter 5 Customer relationship management is the key to unlocking success for your organization.
Forming and maintaining strong relationships and bonds with customers is the next step in maximizing and developing value and opportunities after a customer finds a relevant/product service. This framework is designed to help you understand the importance of your customers while teaching you how to build, strengthen, and maintain good relationships with them that will both benefit the customer and your organization. What's important in customer relationships? 1. Understand your customer and their needs.
Employ people who have good customer relationship skills, it's not a plus, but a must.
2. Understand what your customer wants to buy and why.
Know your products/services well, and understand how to express them in ways that your customers will find valuable.
3. Prioritize your customer base.
Based on possible results versus investement required, decide which customers to focus on. Know the limits to what you can and cannot do.
4. Determine WHO can influence the buying decisions of your product/service.
Know who can specifically make or break the buying decisions? This can maximize your opportunities.
5. Listen for opportunities.
Listening to your customers helps you identify their strategies, goals, and challenges that may help you idenitify further opportunities.
6. Develop a Selling Strategy
Create a selling strategy that supports the direction and plans for your customer relationship. It should always answer these questions:
1. What are the key benefits to the customer of what you are selling?
2. How does this match the needs of the customer?
3. What are the key selling actions that will move your relationship with the customer towards the final destination?
4. Who influences the buyer's buying decisions? Is there anyone else who should be included in this process?
5. What are deadlines for the main steps in the plan?
7. Present your proposal to the customer
While selling your proposal to your customer, reach out to their needs to make them remember that they are important to you.
8.Develop plans and execute agreements.
Execute plans and agreements as soon as possible.
9. Schedule stewardship and review meetings
The purpose of these meetings is to recognize problems, potential opporunities, follow-up actions, and to show your decication and ask for customer feedback. The most effective leaders invest their time and effort on hiring, attracting, then developing people who will perform well. They understand the difference that a strong performer and a weak performer has on the organization. WHY? How to develop people:
Developing people is a long, difficult process but it is one of the key fundamentals in achieving organizational success. It involves a lot of attention, care, and feedback towards a person. Their mistakes must be seen as a learning opportunity and if used strategically will be able to develop skills effectively with pay compensation a motivational factor for the developing person. Furthermore, because every single person is different, contingency thinking needs to be incorporated into realizing which development method(s) deem to be the most effective for people. Stahl concludes this chapter by suggesting that how well an organization trains and develops their people is one the factors influencing how successful it will be.
Developing people is a long, difficult process but it is one of the key fundamentals in achieving organizational success.
It involves a lot of attention, care, and feedback towards a person.
Their mistakes must be seen as a learning opportunity and if used strategically will be able to develop skills effectively with pay compensation a motivational factor for the developing person.
Furthermore, because every single person is different, contingency thinking needs to be incorporated into realizing which development method(s) deem to be the most effective for people.
Stahl concludes this chapter by suggesting that how well an organization trains and develops their people is one the factors influencing how successful it will be. in short... Chapter 6-
Financial Strategy and Management A good leader understands that a financial strategies yield sufficient cash flow and fuel the business for long-term success. At the end of the day, the goal of a business is to earn profit. Chapter 7 Influencing People This framework is perhaps the one that holds all the previous six together. This is because your success in any leadership role depends on your ability to influence people. Effective communications are important
When people evaluate an idea/proposal, they consider:
1) The merits of the proposals and the ideas themselves
2) Their personal need to be valued, as humans.
The basis of influencing people invovles: Understanding your audience, (Needs and Goals), Organizing Content Effectively(Understanding and efficiency), and building a connection between you and your audience( Be inspirational and personal). To create an effective financial strategy and management requires leaders to: Identify the primary goal of their organization Know how to determine the value of a business Show the drivers of your business how their efforts directly affect value created for shareowners Put a Financial Policy in place that will create value for your business Communicate effectively with investors Build Effective Control and Information Reporting systems Recognize the importance of the many functional disciplines in your organization Encourage financial sectors to focus on the economics of business and Value Creation Create Compensation Systems that will create Shareowner Value Organizational Capability is an organization's total ability to work together, effectively position and market products, manage its customer relationships, financial strategies, and perform other functions related to organizational success. The most important step in creating a high capability organization invovles attracting and maintaining people who have the skills, abilities, and commitments that ensure an organization's success. Customer relationship Management (Brand Positioning with Consumers) Leadership and Management Written by: Jack Stahl Personal Review Very organized and helpful
Lots of good examples of good and bad situations
Easy to understand
An interesting read
Overall, it is a great book to pick up for any aspiring leaders. thank you for listening. Creating a High Capability Organization