While cost-cutting in itself can be absolutely necessary and worthwhile, HOW it is done is very often wasteful and ends up generating higher costs than the intended benefits can ever bring. We speak today of six specific cost-cutting traps. 1) Undiscerning hiring freezes It seems logical: if we think we have too much staff, we…
As if the still growing diesel scandal hadn’t sufficiently demonstrated the strong need for whistleblower encouragement and protection in Germany, the recent case of the sausage maker Wilke drives the point home. Wilke has been found to be the source of the deaths of three people and sickening many more. And recently, photos taken by…
California’s new labor regulation law has implications far wider than its stated goals (to give gig economy workers more stability and economic security). On the downside, if left unchanged, it will most likely hasten the death of some traditional industries that we appreciate and/or which still play an important role in society (such as local…
Howard Schmidt (name changed to protect privacy), a software engineer in a leading machine-building company in Europe, realized that something was terribly wrong. The computers he and his colleagues used to write the software and firmware on which the company machines relied were suddenly closing down, and there seemed to be no way to restart…
On August 19, the Business Roundtable issued a new definition of the purpose of a corporation, signed by 181 CEOs of leading American corporations. This new definition widens the responsibility of a corporation from simply focusing on creating shareholder value, to include delivering value to customers, investing in employees, dealing fairly and ethically with suppliers…
This may sound paradoxal, but it is a fact: When you work in a field where your passion lies you will be much more motivated to have an impact and to make things better. Let’s take an example: you go into a restaurant, the food is overpriced and not very good; the service is sloppy…
In the age of social media, clear ethical positions can make or break a company’s reputation, + should be considered part of brand management. In the past, many companies posted general visions, which also included some basic ethical rules, but didn’t always worry too hard about seeing them implemented at all levels. Today, when a…
Company culture is usually thought to be a reflection of the type of business the company is involved in, the types of people who work there, the country in which the company’s power base lies, or a combination of these factors. This is only partly true. These factors certainly play a role in refining the…
One real test of leadership is how people respond to failure or setback. A true leader doesn’t waste time complaining about everything that everyone else has done or not done or blaming circumstances and people for a failure. He or she takes personal responsibility for their own situation. And steps back, assesses what can be…
It is often said that managers are appointed and leaders selected. True leaders tend to stand out from a crowd and attract people eager to follow them. However anyone in a position of responsibility can and should reflect on what qualities their staff sees in them – and how truly willing staff is to follow…