When I think of the word 'problem' other words come to mind such as quandary, complication, trouble, mess, plight... All of us face problems on a regular basis and solving them is a huge challenge at times.
What does the word problem actually mean? A problem is basically a dilemma with no apparent way out; an undesirable situation without a solution; or a question that you can't currently answer. It's not just that things are different from the way you'd ideally like them to be – it's that you can't fix them no matter what you do.
Some of the characteristics of problems are as follows:
Incomplete communication - Conversations have broken down or haven't even been started so that full understanding is lacking
Unknowns - Information is missing
Inaccurate information – Some of the known information is wrong
Confusion – People involved find themselves in a mental fog, stressed or overwhelmed by stimuli or choices
Hidden emotions – Emerging feelings tend to come out as you examine the situation
Different viewpoints – You and others have conflicting ideas
Changing impressions – As you investigate the situation, ideas, feelings and explanations change, sometimes radically
Balanced Dilemma – A tug of war exists where no one person or idea is able to win
Persistence – The situation won't disappear
One has to check which of the characteristics actually apply to the given problem. The ideal method of resolving problems and making difficult decisions involves two steps. This magic formula is guaranteed to work. In fact it never fails when applied correctly. The steps are
1. Define the problem
2. Decide how to solve it
You already knew that, right? Although it seems obvious, most problem solvers and decisions makers don't do a very good job of the first step, Problem Recognition. Instead they rush off to step 2, Solution Decision. Unless you define the problem thoroughly and accurately, your solution may not address what's really wrong underneath. The difficult is knowing what to analyze and resolve. Well, tomorrow I'm gonna talk about these two steps in detail.
Monday, August 18, 2008
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Women in the Boardroom
A recent study conducted by New York-based not-for-profit organization Catalyst has revealed that companies that hire more women at senior executive positions stand to improve financially.
It wqs found that companies which had at least 30 per cent women on the board performed better. Also, boards that had more women in 2001 saw their numbers rise further by 2006, indicating that women on top bring in more women.
Catalyst based its study on an analysis of 359 Fortune 500 companies starting in 2000 and thereafter once again in 2006. Companies with maximum women directors and corporate officers also showed improved financial numbers as against companies that lacked women at the top.
The study also said that the number of Fortune 500 companeis that had more than 25 per cent or more of women, was also growing in numbers consistently. While only 30 companies fitted the bill in 2001, the number went up to 68 in 2007.
In Feb 2008, PepsiCo's India-born chief Indra Nooyi was among Forbes' list of 10 best women chief executive officers of large corporations based on their total return to investors since each woman took the top job.
Forbes gives top rank to Catherine Burzik, head of Kinetic Concepts, a medical technology company, and number two to Meg Whitman of eBay, the online marketplace. PepsiCo under Nooyi, who took over as CEO in October 2006, gave investors annual return of 9.4 percent, and 13.1 percent cumulative. Standard & Poor (S&P) annualised return is 2.6 percent while industry average annualised return is 0.4 percent, according to the magazine.
Paying a compliment to the women CEOs on the list, Forbes magazine said stock performance had as much to do with corporate leadership as it had to do with the state of the marketplace.
The magazine said of about 1,000 public companies with at least $1 billion in annual revenue, there are 30 female chief executives in its database. A dozen of these companies have shown total returns greater than their industry peers, with a minimum length of time in office of the CEO of a year and a half. Nooyi's strategy and style of functioning at the global food and soft drinks behemoth has been analysed by Fortune magazine in a cover story in its current issue.
The magazine had earlier rated her the world's most powerful businesswoman in 2006 and 2007.
It wqs found that companies which had at least 30 per cent women on the board performed better. Also, boards that had more women in 2001 saw their numbers rise further by 2006, indicating that women on top bring in more women.
Catalyst based its study on an analysis of 359 Fortune 500 companies starting in 2000 and thereafter once again in 2006. Companies with maximum women directors and corporate officers also showed improved financial numbers as against companies that lacked women at the top.
The study also said that the number of Fortune 500 companeis that had more than 25 per cent or more of women, was also growing in numbers consistently. While only 30 companies fitted the bill in 2001, the number went up to 68 in 2007.
In Feb 2008, PepsiCo's India-born chief Indra Nooyi was among Forbes' list of 10 best women chief executive officers of large corporations based on their total return to investors since each woman took the top job.
Forbes gives top rank to Catherine Burzik, head of Kinetic Concepts, a medical technology company, and number two to Meg Whitman of eBay, the online marketplace. PepsiCo under Nooyi, who took over as CEO in October 2006, gave investors annual return of 9.4 percent, and 13.1 percent cumulative. Standard & Poor (S&P) annualised return is 2.6 percent while industry average annualised return is 0.4 percent, according to the magazine.
Paying a compliment to the women CEOs on the list, Forbes magazine said stock performance had as much to do with corporate leadership as it had to do with the state of the marketplace.
The magazine said of about 1,000 public companies with at least $1 billion in annual revenue, there are 30 female chief executives in its database. A dozen of these companies have shown total returns greater than their industry peers, with a minimum length of time in office of the CEO of a year and a half. Nooyi's strategy and style of functioning at the global food and soft drinks behemoth has been analysed by Fortune magazine in a cover story in its current issue.
The magazine had earlier rated her the world's most powerful businesswoman in 2006 and 2007.
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