Daily Archives: May 22, 2013

Foreign banks battle to crack tough Russian market

State banks are dominant, though the former communist country remains relatively underbanked, writes Rodrigo Orihuela

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Student Loan Problems: One Third Of Millennials Regret Going To College

Here’s an indication of how burdensome student loans have become : About one-third of millennials say they would have been better off working, instead of going to college and paying tuition.

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Why Your Team Matters More Than You

Contrary to popular belief, the success of a business isn’t ensured by an amazing CEO or even the work of a few all-star employees — it’s all about the team. Even without your key players, your business should function without change. In light of the recent news regarding the health of Google CEO Larry Page, companies everywhere should be considering how their business would function if their CEO stepped out of the picture. Would you “keep calm and carry on” as usual, or would your company take an irreversible stumble? One thing’s for certain: a strong team will keep you afloat in a variety of both foreseen and unforeseen situations. The future of your company shouldn’t depend on you–whether you’re the manager, CEO, or unanimous company superstar. It depends on a well-rounded, unwavering team. But working for your team, rather than having them work for you, isn’t so simple in the heavily structured, management-focused settings companies have come to thrive in today. Kick your bad habits and put your team first. Here are seven ways to ensure every employee is able to step up to the plate without a second thought: 1. Build a strong foundation. Set the teamwork bar high from the beginning. If your company culture and mission don’t encompass the power of team-focused efforts, there’s no way to ensure your company’s strength will lie in the team. Your employees need to know that you work for them, and not the other way around. 2. Empower your employees. Every one of your employees has something they can bring to the table. Since you work for your team, it’s your job to find out where your employees excel individually. Highlight their strengths and challenge them to set an example for others. This will not only increase their interest in staying on top of their game, but also motivate them to live up to their reputation. Even when you’re not in the office, they’re still going to want to retain their image. 3. Establish goals. You can’t have a team without a vision. Throw out the idea of your employees acting as task-doers and let them collectively achieve goals within teams. Establish your company’s teams and give each one a goal to accomplish in a short timeframe. This will allow your employees to focus on the big picture, rather than accomplishing smaller tasks. Working toward team goals will benefit your employees sense of ownership and responsibility — positively impacting your company from the inside out. 4. Learn to delegate. Place your trust in your employees. If you’re a micromanaging perfectionist, you can kiss your team-focused culture and project ownership goodbye. Set your teams on the right path by delivering the big picture message and the measurable outcomes — the rest is up to them. Your delegation efforts will allow them to work creatively to get things accomplished, and they may even surprise you in the process. 5. Let them figure it out. If you swoop in every time there’s a problem, how can your employees ever solve things on their own? Giving orders to your employees may seem easy, but it leaves them out of the decision-making process. Stop telling your employees what to do and start asking them how they would do it themselves! You will immediately increase team autonomy, responsibility, motivation, and create a powerful change in the way your employees make decisions. 6. Recognize their efforts. Praise is the key ingredient for boosting motivation and engagement. Want a more inspired team of employees? Tell them what they’re doing right and encourage them to continue onward. Too many employees think of their manager or CEO as the most critical member of the company. Remove this stereotype and be the person to give the necessary pat on the back. This also makes the occasional call for improvement easier to swallow. 7. Remove hierarchy. Your teams don’t need manager, I promise. “All for one, one for all” should be your employees’ new motto. By removing the project manager or supervisor, your staff will feel empowered to work together as a team and the structure will form naturally. Your employees will want to go the extra mile for the good of the entire team and the accomplishment of a goal. Why? Because there’s nothing worse than letting down your entire team. If you let the power of your business lie in the hands of one or two people, you’ll be certain to fail in their absence. Build a team-focused business to keep you afloat under any circumstance. What do you think? Does your company place enough value on a team mentality?

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Newark Gear-Up Landing Raises Same Old Question: What Airline Are You Really Flying?

News reports immediately identified the aircraft that made a belly landing at Newark International Airport this past Saturday morning as a US Airways airplane.  The flight was referred to as a US Airways flight.  But buried somewhere in the news reports the next day, was the information that the aircraft was in fact operated by Piedmont Airlines, not USAirways.

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Meg Whitman Jolts HP As Its Reluctant Savior

To understand Meg Whitman, the former eBay chief executive who now runs Hewlett-Packard, it’s essential to revisit something she did 26 years ago. She had just become a junior partner at Bain Consulting, working for the brilliant but domineering Tom Tierney. One morning Whitman walked into his office, impromptu. The 31-year-old asked her feared boss if he wanted staff feedback about his leadership style; he nodded. With that Whitman grabbed a felt-tip marker and sketched a giant steamroller on a nearby flip board. “This is you, Tom,” she explained. “You’re too pushy–you’re not letting us build consensus leadership.”

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Retailers’ results: Chris Gilmour – Absa Investments & Carlo Gonzaga (Taste Holdings)

Lewis, Mr Price, Massmart and Taste Holdings under the spotlight.

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Market news: Michael Jordaan (FNB), Wayne McCurrie (Momentum Wealth), Richard Pike (Adcorp)

FNB boss leaving, markets today, Abil up, and Adcorp focuses on skills.

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JSE ends flat despite volatile day

JSE ends little changed after volatile session‚ while bargain hunting in the resources sector continues for a second day

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Commission puts big business on the spot for rights abuse

Big business teamed up with powerful individuals in government in violation of people’s rights during Kenya’s 50 years of independence, the newly-released Truth, Justice and Reconciliation Commission report says.

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Uhuru faces rebellion in House over salary increase

President Uhuru Kenyatta is facing the biggest political test to his leadership as Members of Parliament defy his directive in their quest for higher pay.

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MP files Motion seeking freeze on pay to Pattni firm

An MP has filed a Motion seeking to freeze further payments arising from Goldenberg and related scams.

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MP files Motion to end Kenya Power monopoly

A Motion filed in the House is seeking to liberalise power distribution and break Kenya Power’s monopoly to foster competition and improve efficiency.

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Molasses scarcity threatens future of ethanol firms

Shortage of molasses is threatening the future of firms relying on the by-product to manufacture ethanol.

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Judge restores Ang’awa salary ahead of ruling

The High Court has temporarily stopped suspension of salary, privileges and removal from office of a sacked judge, pending hearing and determination of her case.

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