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Managing the Growth of Business

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Submitted By laughlin53
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Chapter 1 Lecture Notes * Selective Attention * What kind of attention span * How do other people pay attention to what you’re saying * Filters * 5 or 6 * Understand diff filters * How do people use/abuse them * “I know better” * “it’s not my fault” * Inadequate Feedback * Working with friends, ask question about item, “huh/yes/no” not enough information to carry on responsibility * In business world- supervisor/boss doesn’t give clear/clean instructions * Don’t get adequate feedback * How to deal with/how to help other people do a better job of communicating * Listen carefully, find out what real problem is * Words mean different things to different people * Rich’s example: The word “material” * Means significant, more than 10% of an item * His colleague: means any tangible item that you were putting on a product * Resistors, deciding how many to buy, “don’t need to worry about this, it is material? * Meant significant to rich, meant tangible to gary * Understand where people are coming from, background * Do not rush to resolve conflict * Identify conflict, listen to all parties position on the conflict, call timeout, come back x hours later when people have had a chance to think about it * Status Quo * People who do not want to change, think in status quo * Others are looking for better ways, processes to accomplish tasks * How do you work around/deal with status quo?
Chapter 2 Lecture Notes * Identifying people’s needs * What are the needs of other people? * What I said isn’t what I meant? * CEO makes statement, “well that isn’t what I meant” * Make sure words are clear, no definition problem * Understand audience, when you speak to them, make sure you clearly explain what your request is * Defining interest * Tangible * Things you can touch, see, hear: bonus, money, etc * Intangible * Relationship based * Supervisor says “you did a great job” in person/meeting * Recognition of you doing a good job * Everyone wants to be recognized for doing a good job * Caring for your customers/not money * Get to know customers, understand needs, build relationships, never try to sell them something that they don’t need * Money will come * Uncovering interests of other people * Employees interests: match up what you want with their needs/interests * Both parties win/are successful * Same is true with customers and stock owners etc, * Ask why * When people make contrary statements, ask why. “why do you feel this way?” to understand what their interests are
Chapter 3 Lecture Notes * Communicating w different types of people * Cultures, educational backgrounds, working in different discipline as you are (engineer and you are an accountant) * Understand what people are saying * Rich’s example on purchasing resistors with Gary “material” * Finance- greater than 10%; production- material * Ask Probing questions * Interviewing prospective employee, customer, supplier * Cant ask surface level questions and expect to understand the needs of the other person/customer, or the makeup of components * Be patient * Get into conversation, and have patience * Will learn more if you are a good listener * What person really means * Adds to probability of successful event, sale, hire * Be thorough * Go out and do research about the needs of a customer/individual that you’re thinking about hiring be sure to check all references * Rich’s company hired an individual who was an A/R, didn’t check references, was charged with embezzlement in last company * Be empathetic * Understanding with other people that are talking to you * Understand their challenges, needs, even if you can’t fulfill them * Be empathetic in approach * Establish rapport (when people first meet, they are guarded. After a couple meetings, comfort ensues, questions are openly asked and comfortable/open line of communcation) * Don’t establish rapport w customers, can’t expect that they will take them seriously * Hope to establish trust, on all different levels of employees/customers/suppliers * Don’t always be trying to make the sale * Establish a line of communication where you talk about many diff. things trying to understand their business… eventually when you understand, you can ask for sale * Get in Sync * Athletic game: Hawkeye football team * O-line thinks it is a running play to right, QB WR think it is a passing play= end result is a failure and sack * Business world * Introducing a new product, whole company needs to be in sync * Research dept. releasing to manufacturing engineering, they will be able to release to production, then order components from suppliers, marketing needs to know when it will be for sale, sellers need to know when they can go out and sell * Employees pay, raises, benefit * HR needs to be coordinated with finance/managers
Chapter 4 Lecture Notes *

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