Friday, August 29, 2008

Ethical Norms for Marketing

Marketers must do no harm. This means doing work for which they are appropriately trained or experienced so that they can actively add value to their organizations and customers. It also means adhering to all applicable laws and regulations and embodying high ethical standards in the choices they make.

Marketers must foster trust in the marketing system. This means that products are appropriate for their intended and promoted uses. It requires that marketing communications about goods and services are not intentionally deceptive or misleading. It suggests building relationships that provide for the equitable adjustment and/or redress of customer grievances. It implies striving for good faith and fair dealing so as to contribute toward the efficacy of the exchange process.

Marketers must embrace, communicate and practice the fundamental ethical values that will improve consumer confidence in the integrity of the marketing exchange system. These basic values are intentionally aspirational and include honesty, responsibility, fairness, respect, openness and citizenship.

American Marketing Association

Monday, August 25, 2008

Lean Management and Head Count Reduction

Don't bring in lean management to reduce head count in financial crisis periods.

Duing financial crisis, the best approach is to deal with any necessary headcount reductions first and then try lean methods.

James P Womack
Lean Enterprise Institute

In an interview in Mint, Campaign, 25 August 2008

Produce Good Managers

You have to produce good managers before you can produce good products.

James P Womack
Lean Management Institute

Interview published in Mint Campaign, 25 August 2008

Friday, August 15, 2008

Core Competence

A core competence is a combination of complementary skills and knowledge bases embedded in a group, or team, that results in the ability to execute one or more, critical processes to world-class standard.

Kevin P. Coyne, Stephen J.D. Hall, and Patricia Gorman Clifford, “Is Your Core Competence A Mirage”, The McKinsey Quarterly, Number 1, 1997.

Lean Thinking

What is the starting point of becoming lean?

The starting point is to acquire a completely new perception of what is value, and what is waste. I don't like the word waste because it is not horrible enough. I use the Japanese word muda. Muda sounds awful. You don't want muda. You need to acquire a new set of glasses-I call them muda glasses-that allows you to see all the way.

Daniel T. Jones, Author of the book, Lean Thinking,1996

In an interview published in Business Today (India), December 7-21, 1997, p.98.

Tuesday, August 5, 2008

Moral Common Sense

A. Avoid harming others
B. Respect the rights of others
C. Do not lie or cheat
D. Keep promises and contracts
E. Obey the law
F. Prevent harm to others
g. Help those in need
H. Be fair
I. Reinforce these imperatives in others

K.E. Goodpaster
Ethics in Management
Harvard Business School Press

Discussed in the article "Corporate Ethics and International Business: Some Basic Issues - Part I" by Klaus M. Leisinger, Novartis Foundation for Sustainable Development, Hong Kong, June 2nd, 1994.

Dark Side of the MBA culture

"The "dark side" of the MBA culture is the attitude that demands bending the rules"

says Santa Clara's Hanson, who taught ethics at Stanford -- where, incidentally, one of the Enron board members, Robert Jaedicke was B-school dean from 1983 to 1990.

Where Can Execs Learn Ethics?
Business Week Online
13 June 2002

Ethics - Students

"Unless the entire faculty owns the ethics agenda, it's not going to work."

Kenneth Goodpaster
University of St. Thomas' elite College of Business

A statement in the article,
Corporate scandal as a teaching moment: business school aims to make ethics a flagship, not a fig leaf, of curriculum - Catholic Colleges And Universities - University of St. Thomas' College of Business

Business Ethics

"The workplace is a school for ethics,'' "Ethics education goes on throughout one's life and it's not over at any point; it keeps going all the way to the grave.''

Kenneth Goodpaster, Koch Endowed chair in business ethics at St. Thomas, said that faculty at universities and colleges must take "ownership'' of the importance of integrity. In addition, he said, people's success should not be measured solely by income level or ranking at a Fortune 500 company but rather by their ethical agenda.

Kenneth Goodpaster is author of the book, Ethics in Management, published by Harvard Business School Press in 1984.

Sunday, August 3, 2008

Setbacks are a natural part of life

If you really believe what you're doing, you've got to persevere even when you run into obstacles. When I finished sulking (about the setback), I doubled my efforts and worked even harder. In a few months I had my old job back. Setbacks are a natural part of life, and you've got to be careful how you respond to them. If I had sulked too long, I probably would have got my self fired.

Lee Iacocca

Autobiography 1984

Using your time well

the ability fo concentrate and to use your time well is everything if want to succeed in business-or almost anywhere else, for that matter. Ever since college I've always worked hard during the week while trying to keep my weekends free for family and recreation. Except for periods of real crisis I've never worked on Friday night, Saturday or Sunday. Every Sunday ngiht I get the adrenalin going again by making an outline of what I want to accomplish during the upcoming week.

If you want to make good use of your time, you've got to know what's most important and then give it all you've got.

Lee Iacocca
An Autobiography 1984