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Useful Terms

I was reading an article today in the Newspaper by Dr Money. I found that the below terms are quite useful for those interested in the movement of the economy.

And here they are:

Recession - Refers to a period of at least six months of no growth in the economy.

Depression - Refers to a period worse that recession. There has not been a real term yet to define it.

Monetary Policy - Lowering or Increase of Interest Rates by government or central bank

Fiscal Policy - Government spending and tax cuts

Unemployment rate - Number of People (above 15 years old) who are not employed, but looking for employment divided by the number of unemployed plus employed people.

Foreign Currency Reserves - A central bank's holdings of Foreign currency such as USD, Euro, yen or gold. Usually this would guraantee the strenght and stability of a currency.

Interesting note that for the past two decades, Singapore had experienced a major recession in 1985 and 1997-1998 with exception of 2001 due to Sep 11 attacks. Would the year 2008 be the next major recession in a ten year cycle? The reason behind it was the booming property market and the bubble effect that had been going on from 2007. Let's stay tune and watch.

Sorry about it. About my late posting, the reason is that I am changing jobs again. And it is an expensive lesson as the partners which I trusted are actually trying to play me out.

Hence I have trying to solve this problem and therefore no posting here.

Business Headlines around the world

A case study of Leadership

How Does Alexander The Great Measure Up To The 7 Points Of Leadership?

In my other Article, I have written about 7 points which a leader must take note of. Here I am using the example of Alexander the Great to see how many points he would score

1. Always have a vision
Good or Great Leaders have a vision that can be shared and appreciated by your staff would enable him to motivate the staff in getting the goal achieved. In the case of Alexander, his vision is that to right the wrongs done by the Persians on the Greeks and ultimately replace the Persian Empire with his own. At that time, his vision was thought to be bold, out of this world and basically impossible. His success in projecting this vision of his could be seen in history where he became king of an empire that was not exceeded by the Mongols.Hence we can draw a lesson from this is that via successful projection of a vision, nothing is impossible.

2. Do not focus on negative
A good leader basically should try to see and find the positive or good in the bad or negative and essentially take advantage of it. Again for Alexander, it is his sense of invincibility or good tactical sense that often bought his success against overwhelming odds in battles verses the Persian Empire or later in India. Here we got a leader where no matter how bad is the situation, he always or often turn it to his advantages.

3. Mood Management
A good leader should learn to keep one's feelings or moods to oneself and let nothing out if possible as to affect his staff. This is something which Alexander does not do very well as leader. Maybe in his case, the Greek Culture brings out emotions, feelings and moods more directly of men then. Hence we should not really fault Alexander as it should be said that being a Ancient King, he was entitled to his moods.

4. Core Values Communication
A good leader would make sure that his or her values are evident to all stakeholders involved while being able to align values or policies of the organization to those of the employees. Here is something which Alexander does very well. In history, he always managed to win the respect and loyalty of his men regardless of the situation. Proof of this can be seen is that he would not ask his men to do anything he would not do himself. And always before battles or after battles, he would go among his men to listen and encourage them.

5. Concentrate on the Big Picture
A good leader should always look at the big picture and think of it as the most important item. Alexander has never lost sight of his vision and the situation at hand during his short reign. One example is his destruction of Thebes after his accession to the Macedonian throne was a step in his vision where he hoped to cow any Greek opposition into submission before setting out to fight the Persians. Another example is that during the conquest of the Persian Empire, he often confirmed surrendered Persians in their posts. This allowed the governing of the regions to continue unbroken while reducing the need to garrison every province. He did make a precaution where only Macedonians are placed in charge of the garrison.

6. Crisis Management
Crisis Management is critical to being a good leader. If a crisis can be handled without losing control of the situation, a leader would be able to shine then. He or she should never be overwhelmed by the scope of the crisis. There was no bigger scope of the crisis or situation which Alexander faced. He was up against the largest Empire and its seemingly inexhaustible manpower. However through his calm and superior leadership, he managed to resolve most of the crisis to an advantageous ending.

7. Stop Gossip
A good leader should always avoid listening or believing in gossip unless one witness for himself or herself the event in question. Here is another fault of ancient times, where Kings are always suspicious of their powerful or successful subjects with deadly results. In the case of Alexander, gossip or rumors caused the death of Parmenion and Philotas. Hence he did not really manage to keep his actions clear of rumors or gossip.

Conclusion
Although Alexander does not score well for 2 of the 7 points, he can still be considered a good or even great leader as per his actions and achievements in history. Hopefully, this case study on Alexander would enable all to understand the importance of above seven points of leadership.

PS: Article has been posted on EzineArticles.

Some Business News around the world where Martel has apologized to China over toy recall. The reason is that the recall was caused by design flaws, rather than production problems.

Although that was cleared up, but more storm clouds are there for china since a recall of millions of baby crib after the death of two babies. What would be next?

RE: 5 Key Points to Being a Successful Sales Person

In the past, I have always faced problems of conducting sales to people. However as I grew older, I have learnt many things. Hence the below, can be summarized as my experience which I would like to share you.

In order to be a successful sales person, it is not that difficult. By applying or following the following five key points, one can be one.

1. Direct Selling Approach

Most of the time, people would not want to hear excuses or being forwarded from department to department on their problems or concerns. What is critical to them is that they are able to have their issues, problems or concerns solved directly.

Hence this applies to selling too. Being direct and honest, would be a better way of selling instead of covering up facts which would be found out eventually. Do not beat around the bush. Selling of the core benefits of the products and services is the key point here in sales.

2. Setting Goals (or Targets)

Never forget that by setting goals or targets, one gives direction to whatever he or she would hope to achieve. This is important as then he or she would know what would be needed to be done to achieve the goal. And furthermore, the prospects of self satisfaction from achieving goals and targets are highly tempting or provide motivation to a person.

3. Sales Pitch

With experience, one would be able to analyse his or her arsenal of sales pitch where those that do work would be focused on. Hence by focusing on those sales pitch that works, the selling skills can be honed and sharpened. With each selling experience, confidence and belief in one's selling skill would be built up to the level of being able to cope with any sorts of customers.

4. Taking positive from negative

In sales, it is not always possible to conduct a sales. Be it the wrong sales pitch or unsuitability of the product or service, it should be not disheartening to the sales person. The reason is that as above under point 3, take it as a learning experience where by analysing what went wrong with the pitch or method. Thus by remembering the mistake, one should or would not make in the future.

5. Mistakes

No is prefect where he or she does not make any mistakes where starting a sales job. There is no need to dwell or linger on mistakes, but take them as learning experiences to reduce or prevent them from happening again. Slowly, the number of mistakes would be reduced or prevented.

And do not be afraid to apologize for any mistakes made. Always be prepared to make amends to them.

Lastly, always reflect on the set goals or targets and update them if necessary.

Hopefully the above can help you in overcoming your sales problems and to be on your way to be a more successful sales person.

PS: Article has also been posted on EzineArticles.com

Also read on for some business news where the Bank of England agreed to emergency funding to Northern Rock after it had fallen prey to the liquidility squeeze in the banking sector.

RE: Some Business News from around the world

First up, OPEC has agreed to increase overall output by 2% next month, but market could remain tense for the remainder of the year. A sign of this is that oil prices remain close to the record price of USD$78.77 per barrel.

According to US Treasury Secretary Paulson, there is no quick fix to the credit crisis in the US. This may result in poorer stock exchange today. To check out more on what he said, read on

Lastly, GM is looking at a family of electric cars sharing the same parts. Hence it is a move in the right direction as it would also cut down on cost and it may result in modular customization in the future. Great!!