Saturday, August 6, 2016

12 Habits of Genuine People

- Travis Bradberry, Forbes   

 

There’s an enormous amount of research suggesting that emotional intelligence (EQ) is critical to your performance at work. TalentSmart has tested the EQ of more than a million people and found that it explains 58% of success in all types of jobs.

People with high EQs make $29,000 more annually than people with low EQs. Ninety percent of top performers have high EQs, and a single-point increase in your EQ adds $1,300 to your salary. I could go on and on.

Suffice it to say, emotional intelligence is a powerful way to focus your energy in one direction with tremendous results.

But there’s a catch. Emotional intelligence won’t do a thing for you if you aren’t genuine.
A recent study from the Foster School of Business at the University of Washington found that people don’t accept demonstrations of emotional intelligence at face value. They’re too skeptical for that. They don’t just want to see signs of emotional intelligence. They want to know that it’s genuine—that your emotions are authentic.

According to lead researcher Christina Fong, when it comes to your coworkers,
“They are not just mindless automatons. They think about the emotions they see and care whether they are sincere or manipulative.”

The same study found that sincere leaders are far more effective at motivating people because they inspire trust and admiration through their actions, not just their words. Many leaders say that authenticity is important to them, but genuine leaders walk their talk every day.

It’s not enough to just go through the motions, trying to demonstrate qualities that are associated with emotional intelligence. You have to be genuine.

You can do a gut check to find out how genuine you are by comparing your own behavior to that of people who are highly genuine. Consider the hallmarks of genuine people and see how you stack up.

“Authenticity requires a certain measure of vulnerability, transparency, and integrity.”
–Janet Louise Stephenson

1. Genuine people don’t try to make people like them. Genuine people are who they are. They know that some people will like them, and some won’t. And they’re OK with that. It’s not that they don’t care whether or not other people will like them but simply that they’re not going to let that get in the way of doing the right thing. They’re willing to make unpopular decisions and to take unpopular positions if that’s what needs to be done.
Since genuine people aren’t desperate for attention, they don’t try to show off. They know that when they speak in a friendly, confident, and concise manner, people are much more attentive to and interested in what they have to say than if they try to show that they’re important. People catch on to your attitude quickly and are more attracted to the right attitude than what or how many people you know.

2. They don’t pass judgment. Genuine people are open-minded, which makes them approachable and interesting to others. No one wants to have a conversation with someone who has already formed an opinion and is not willing to listen.

Having an open mind is crucial in the workplace, as approachability means access to new ideas and help. To eliminate preconceived notions and judgment, you need to see the world through other people’s eyes. This doesn’t require you to believe what they believe or condone their behavior; it simply means you quit passing judgment long enough to truly understand what makes them tick. Only then can you let them be who they are.

3. They forge their own paths. Genuine people don’t derive their sense of pleasure and satisfaction from the opinions of others. This frees them up to follow their own internal compasses. They know who they are and don’t pretend to be anything else. Their direction comes from within, from their own principles and values. They do what they believe to be the right thing, and they’re not swayed by the fact that somebody might not like it.

4. They are generous. We’ve all worked with people who constantly hold something back, whether it’s knowledge or resources. They act as if they’re afraid you’ll outshine them if they give you access to everything you need to do your job. Genuine people are unfailingly generous with whom they know, what they know, and the resources they have access to. They want you to do well more than anything else because they’re team players and they’re confident enough to never worry that your success might make them look bad. In fact, they believe that your success is their success.

5. They treat everyone with respect.Whether interacting with their biggest clients or servers taking their drink orders, genuine people are unfailingly polite and respectful. They understand that no matter how nice they are to the people they have lunch with, it’s all for naught if those people witnesses them behaving badly toward others. Genuine people treat everyone with respect because they believe they’re no better than anyone else.

6. They aren’t motivated by material things. Genuine people don’t need shiny, fancy stuff in order to feel good. It’s not that they think it’s wrong to go out and buy the latest and greatest items to show off their status; they just don’t need to do this to be happy. Their happiness comes from within, as well as from the simpler pleasures—such as friends, family, and a sense of purpose—that make life rich.

7. They are trustworthy. People gravitate toward those who are genuine because they know they can trust them. It is difficult to like someone when you don’t know who they really are and how they really feel. Genuine people mean what they say, and if they make a commitment, they keep it. You’ll never hear a truly genuine person say, “Oh, I just said that to make the meeting end faster.” You know that if they say something, it’s because they believe it to be true.

8. They are thick-skinned. Genuine people have a strong enough sense of self that they don’t go around seeing offense that isn’t there. If somebody criticizes one of their ideas, they don’t treat this as a personal attack. There’s no need for them to jump to conclusions, feel insulted, and start plotting their revenge. They’re able to objectively evaluate negative and constructive feedback, accept what works, put it into practice, and leave the rest of it behind without developing hard feelings.

9. They put away their phones. Nothing turns someone off to you like a mid-conversation text message or even a quick glance at your phone. When genuine people commit to a conversation, they focus all of their energy on the conversation. You will find that conversations are more enjoyable and effective when you immerse yourself in them. When you robotically approach people with small talk and are tethered to your phone, this puts their brains on autopilot and prevents them from having any real affinity for you. Genuine people create connection and find depth even in short, everyday conversations. Their genuine interest in other people makes it easy for them to ask good questions and relate what they’re told to other important facets of the speaker’s life.

10. They aren’t driven by ego. Genuine people don’t make decisions based on their egos because they don’t need the admiration of others in order to feel good about themselves. Likewise, they don’t seek the limelight or try to take credit for other people’s accomplishments. They simply do what needs to be done without saying, “Hey, look at me!”

11. They aren’t hypocrites. Genuine people practice what they preach. They don’t tell you to do one thing and then do the opposite themselves. That’s largely due to their self-awareness. Many hypocrites don’t even recognize their mistakes. They’re blind to their own weaknesses. Genuine people, on the other hand, fix their own problems first.

12. They don’t brag. We’ve all worked with people who can’t stop talking about themselves and their accomplishments. Have you ever wondered why? They boast and brag because they’re insecure and worried that if they don’t point out their accomplishments, no one will notice. Genuine people don’t need to brag. They’re confident in their accomplishments, but they also realize that when you truly do something that matters, it stands on its own merits, regardless of how many people notice or appreciate it.

Bringing It All Together
Genuine people know who they are. They are confident enough to be comfortable in their own skin. They are firmly grounded in reality, and they’re truly present in each moment because they’re not trying to figure out someone else’s agenda or worrying about their own.


http://www.forbes.com/sites/travisbradberry/2016/05/10/12-habits-of-genuine-people/


Sunday, July 17, 2016

What CEOs are reading


Dominic Barton, Managing Director, McKinsey

1.           The Black Prince of Florence: The Spectacular Life and Treacherous World of Alessandro de’ Medici — Catherine Fletcher (Bodley Head, 2016; nonfiction)
2.           The European Identity: Historical and Cultural Realities We Cannot Deny — Stephen Green (Haus Publishing, 2016; nonfiction)
3.           China’s Mobile Economy: Opportunities in the Largest and Fastest Information Consumption Boom — Winston Ma (John Wiley & Sons, 2016; nonfiction)
4.           The Seventh Sense: Power, Fortune, and Survival in the Age of Networks — Joshua Cooper Ramo (Little, Brown and Company, 2016; nonfiction)

Carl Bass, CEO, Autodesk

1.           Emerald Mile: The Epic Story of the Fastest Ride in History Through the Heart of the Grand Canyon—Kevin Fedarko (Scribner, 2014; nonfiction)
2.           Ordinary Grace—William Kent Krueger (Atria Books, 2014; fiction)
3.           Out Stealing Horses: A Novel—Per Petterson (Picador, 2008; fiction)
4.           Fundamentals of Press Brake Tooling—Ben Rapien (Hanser, 2010; nonfiction)

Hakeem Belo-Osagie, Chairman, Etisalat Nigeria

1.           Success and Luck: Good Fortune and the Myth of Meritocracy—Robert H. Frank (Princeton University Press, 2016; nonfiction)
2.           Shoe Dog: A Memoir by the Creator of Nike—Phil Knight (Scribner, 2016; nonfiction)
3.           History’s People: Personalities and the Past—Margaret MacMillan (House of Anansi Press, 2015; nonfiction)
4.           The Tea Party and the Remaking of Republican Conservatism—Theda Skocpol and Vanessa Williamson (Oxford University Press, 2013; nonfiction)

Jamie Dimon, CEO & President, JPMorgan Chase

1.           The Conservative Heart: How to Build a Fairer, Happier, and More Prosperous America—Arthur C. Brooks (Broadside Books, 2015; nonfiction)
2.           Ronald Reagan—Jacob Weisberg (Times Books, 2016; nonfiction)

Reid Hoffman, Executive Chairman, LinkedIn

1.           The Inner Lives of Markets: How People Shape Them—And They Shape Us—Ray Fisman and Tim Sullivan (PublicAffairs, 2016; nonfiction)
2.           More Human: Designing a World Where People Come First—Steve Hilton with Jason and Scott Bade (WH Allen, 2015; nonfiction)
3.           The True Believer: Thoughts on the Nature of Mass Movements—Eric Hoffer (HarperCollins Publishers, 2010; nonfiction)
4.           This Brave New World: India, China and the United States—Anja Manuel (Simon & Schuster, 2016; nonfiction)
5.           The Gene: An Intimate History—Siddhartha Mukherjee (Scribner, 2016; nonfiction)
6.           The Seventh Sense: Power, Fortune, and Survival in the Age of Networks—Joshua Cooper Ramo (Little, Brown & Company, 2016; nonfiction)

Andrew N. Liveris, Chairman, Dow

1.           The Intelligent Investor: The Definitive Book on Value Investing—Benjamin Graham (Harper Business, 2006; nonfiction)
2.           The First Clash: The Miraculous Greek Victory at Marathon and Its Impact on Western Civilization—James Lacey (Bantam, 2013; nonfiction)
3.           Australia’s Second Chance—George Megalogenis (Penguin Books Australia, 2015; nonfiction)

Carlo Messina, CEO & managing Director, Intesa Sanpaolo

1.           When Breath Becomes Air—Paul Kalanithi (Random House, 2016; nonfiction)

Phuthuma Nhleko, CEO & Executive Chairman, Mobile Telephone Networks

2.           The Life of the Mind—Hannah Arendt (Mariner Books, 1981; nonfiction)
3.           The End of Alchemy: Money, Banking, and the Future of the Global Economy—Mervyn King (W.W. Norton & Company, 2016; nonfiction)

Chuck Robbins, CEO, Cisco

1.           Tattoos on the Heart: The Power of Boundless Compassion—Gregory Boyle (Free Press, 2011; nonfiction)
2.           Five Presidents: My Extraordinary Journey with Eisenhower, Kennedy, Johnson, Nixon, and Ford—Clint Hill and Lisa McCubbin (Gallery Books, 2016; nonfiction)
3.           The Seventh Sense: Power, Fortune, and Survival in the Age of Networks—Joshua Cooper Ramo (Little, Brown and Company, 2016; nonfiction)

Roberto Setubal, CEO, Itaú Unibanco

1.           The Man Who Loved Dogs: A Novel—Leonardo Padura (Farrar, Straus and Giroux, 2015; fiction)
2.           Fault Lines: How Hidden Fractures Still Threaten the World Economy—Raghuram G. Rajan (Princeton University Press, 2011; nonfiction)
3.           The Spinoza Problem: A Novel—Irvin D. Yalom (Basic Books, 2013; fiction)

Risto Siilasmaa, Chairman, Nokia

1.           Superintelligence: Paths, Dangers, Strategies—Nick Bostrom (Oxford University Press, 2014; nonfiction)
2.           Who Gets What—and Why: The New Economics of Matchmaking and Market Design—Alvin E. Roth (Eamon Dolan/Houghton Mifflin Harcourt, 2015; nonfiction)
3.           Cryptonomicon—Neal Stephenson (Avon Books, 2002; fiction)
4.           Global Energy Interconnection—Zhenya Liu (Academic Press, 2015; nonfiction)
5.           花木—the Chinese folk tale of Mulan (fiction, in Mandarin)

Wendell P. Weeks, Chairman, Corning

1.           The Seventh Sense: Power, Fortune, and Survival in the Age of Networks—Joshua Cooper Ramo (Little, Brown and Company, 2016; nonfiction)
2.           The Gilead trilogy, comprising Gilead, 2006; Home, 2009; and Lila, 2015—Marilynne Robinson (Picador; fiction)
3.            Search Inside Yourself: The Unexpected Path to Achieving Success, Happiness (and World Peace)—Chade-Meng Tan (HarperOne, 2014; nonfiction)


http://www.mckinsey.com/global-themes/leadership/what-ceos-are-reading?cid=other-eml-alt-mip-mck-oth-1607

My First Pick:
When Breath Becomes Air—Paul Kalanithi &
 The Seventh Sense: Power, Fortune, and Survival in the Age of Networks—Joshua Cooper Ramo

Thursday, May 5, 2016

The party winds down


Across the world, politically connected tycoons are feeling the squeeze    - Economist
May 7th 2016 | From the print edition

·         
TWO YEARS ago The Economist constructed an index of crony capitalism. It was designed to test whether the world was experiencing a new era of “robber barons”—a global re-run of America’s gilded age in the late 19th century. Depressingly, the exercise suggested that since globalisation had taken off in the 1990s, there had been a surge in billionaire wealth in industries that often involve cosy relations with the government, such as casinos, oil and construction. Over two decades, crony fortunes had leapt relative to global GDP and as a share of total billionaire wealth.

It may seem that this new golden era of crony capitalism is coming to a shabby end. In London Vijay Mallya, a ponytailed Indian tycoon, is fighting deportation back to India as the authorities there rake over his collapsed empire. Last year in São Paulo, executives at Odebrecht, Brazil’s largest construction firm, were arrested and flown to a court in Curitiba, a southern Brazilian city, that is investigating corrupt deals with Petrobras, the state-controlled oil firm. The scandal, which involves politicians from several parties, including the ruling Workers’ Party, is adding to pressure on Brazil’s president, Dilma Rousseff, who is facing impeachment on unrelated charges.
A Malaysian investment fund, 1MDB, that is answerable to the prime minister, is the subject of a global fraud probe. Supporters of Rodrigo Duterte, the front-runner to win the presidential election in the Philippines on May 9th, hope he will open up a feudal political system that has allowed cronyism to flourish. In China bosses of private and state-owned firms are now routinely interrogated as part of Xi Jinping’s purge of “tigers” (a purge that has left Mr Xi’s family well alone). Worldwide, tycoons’ offshore financial cartwheels have been revealed through the Panama papers.
The economic climate has been tough on cronies, too. Commodity prices have tanked, cutting the value of mines, steel mills and oilfield concessions. Emerging-market currencies and shares have fallen. Asia’s long property boom has sputtered.
The result is that our newly updated index shows a steady shrinking of crony billionaire wealth to $1.75 trillion, a fall of 16% since 2014. In rich countries, crony wealth remains steadyish, at about 1.5% of GDP. In the emerging world it has fallen to 4% of GDP, from a peak of 7% in 2008 (see chart 1). And the mix of wealth has been shifting away from crony industries and towards cleaner sectors, such as consumer goods (see chart 2).
Despite this slowdown, it is too soon to say that the era of cronyism is over—and not just because America could elect as president a billionaire whose dealings in Atlantic City’s casinos and Manhattan’s property jungle earn him the 104th spot on our individual crony ranking.
Behind the crony index is the idea that some industries are prone to “rent seeking”. This is the term economists use when the owners of an input of production—land, labour, machines, capital—extract more profit than they would get in a competitive market. Cartels, monopolies and lobbying are common ways to extract rents. Industries that are vulnerable often involve a lot of interaction with the state, or are licensed by it: for example telecoms, natural resources, real estate, construction and defence. (For a full list of the industries we include, see article.) Rent-seeking can involve corruption, but very often it is legal.
Our index builds on work by Ruchir Sharma of Morgan Stanley Investment Management and Aditi Gandhi and Michael Walton of Delhi’s Centre for Policy Research, among others. It uses data on billionaires’ fortunes from rankings by Forbes. We label each billionaire as a crony or not, based on the industry in which he is most active. We compare countries’ total crony wealth to their GDP. We show results for 22 economies: the five largest rich ones, the ten biggest emerging ones for which reliable data are available and a selection of other countries where cronyism is a problem (see chart 3). The index does not attempt to capture petty graft, for example bribes for expediting forms or avoiding traffic penalties, which is endemic in many countries.

The rich world has lots of billionaires but fewer cronies. Only 14% of billionaire wealth is from rent-heavy industries. Wall Street continues to be controversial in America but its tycoons feature more prominently in populist politicians’ stump speeches than in the billionaire rankings. We classify deposit-taking banking as a crony industry because of its implicit state guarantee, but if we lumped in hedge-fund billionaires and other financiers, too, the share of American billionaire wealth from crony industries would rise from 14% to 28%. George Soros, by far the richest man in the hedge-fund game, is worth the same as Phil Knight, a relative unknown who sells Nike training shoes. Mr Soros’s fortune is only a third as large as the technologyderived fortune of Bill Gates.
Developing economies account for 43% of global GDP but 65% of crony wealth. Of the big countries Russia still scores worst, reflecting its corruption and dependence on natural resources. Both its crony wealth and GDP have fallen in dollar terms in the past two years, reflecting the rouble’s collapse. Their ratio is not much changed since 2014. Ukraine and Malaysia continue to score badly on the index, too. In both cases cronyism has led to political instability. Try to pay a backhander to an official in Singapore and you are likely to get arrested. But the city state scores poorly because of its role as an entrepot for racier neighbours, and its property and banking clans.
Encouragingly, India seems to be cleaning up its act. In 2008 crony wealth reached 18% of GDP, putting it on a par with Russia. Today it stands at 3%, a level similar to Australia. A slump in commodity prices has obliterated the balance sheets of its Wild West mining tycoons. The government has got tough on graft, and the central bank has prodded state-owned lenders to stop giving sweetheart deals to moguls. The vast majority of its billionaire wealth is now from open industries such as pharmaceuticals, cars and consumer goods. The pin-ups of Indian capitalism are no longer the pampered scions of its business dynasties, but the hungry founders of Flipkart, an e-commerce firm.
In absolute terms China (including Hong Kong) now has the biggest concentration of crony wealth in the world, at $360 billion. President Xi’s censorious attitude to gambling has hit Macau’s gambling tycoons hard. Li Hejun, an energy mogul, has seen most of his wealth evaporate. But new billionaires in rent-rich industries have risen from obscurity, including Wang Jianlin, of Dalian Wanda, a real-estate firm, who claims he is richer than Li Ka-shing, Hong Kong’s leading business figure.
Still, once its wealth is compared with its GDP, China (including Hong Kong) comes only 11th on our ranking of countries. The Middle Kingdom illustrates the two big flaws in our methodology. We only include people who declare wealth of over a billion dollars. Plenty of poorer cronies exist and in China, the wise crony keeps his head down. And our classification of industries is inevitably crude. Dutch firms that interact with the state are probably clean, whereas in mainland China, billionaires in every industry rely on the party’s blessing. Were all billionaire wealth in China to be classified as rent-seeking, it would take the 5th spot in the ranking.
The last tycoons
A possible explanation for the mild improvement in the index is that cronyism was just a phase that the globalising world economy was going through. In 2000-10 capital sloshed from country to country, pushing up the price of assets, particularly property. China’s construction binge inflated commodity prices. In the midst of a huge boom, political and legal institutions struggled to cope. The result was that well-connected people gained favourable access to telecoms spectrum, cheap loans and land.
Now the party is over. China’s epic industrialisation was a one-off and global capital flows were partly the result of too-big-to-fail banks that have since been tamed. Optimists can also point out that cronyism has stimulated a counter-reaction from a growing middle class in the emerging world, from Brazilians banging pots and pans in the street to protest against graft to Indians electing Arvind Kejriwal, a maverick anti-corruption campaigner, to run Delhi. These public movements echo America’s backlash a century ago. The Gilded Age of the late 19th century gave way to the Progressive Era at the turn of the 20th century, when antitrust laws were passed.
Yet there is still good reason to worry about cronyism. Some countries, such as Russia, are going backwards. If global growth ever picks up commodities will recover, too—along with the rents that can be extracted from them. In countries that are cleaning up their systems, or where popular pressure for a clean-up is strong, such as Brazil, Mexico and India, reform is hard. Political parties rely on illicit funding. Courts have huge backlogs that take years to clear and state-run banks are stuck in time-warps. Across the emerging world one response to lower growth is likely to be more privatisations, whether of Saudi Arabia’s oil firm, Saudi Aramco, or India’s banks. In the 1990s botched privatisations were a key source of crony wealth.
The final reason for vigilance is technology. In our index we assume that the industry is relatively free of government involvement, and thus less susceptible to rent-seeking. But that assumption is being tested. Alphabet, the parent company of Google, has become one of the biggest lobbyists in Washington and is in constant negotiations in Europe over anti-trust rules and tax. Uber has regulatory tussles all over the world. Jack Ma, the boss of Alibaba, a Chinese e-commerce giant, is protected by the state from foreign competition, and now owes much of his wealth to his stake in Ant Financial, an affiliated payments firm worth $60 billion, whose biggest outside investors are China’s sovereign wealth and social security funds.
If technology were to be classified as a crony industry, rent-seeking wealth would be higher and rising steadily in the Western world. Whether technology evolves in this direction remains to be seen. But one thing is for sure. Cronies, like capitalism itself, will adapt.


http://www.economist.com/news/international/21698239-across-world-politically-connected-tycoons-are-feeling-squeeze-party-winds?cid1=cust/ednew/n/bl/n/2016055n/owned/n/n/nwl/n/n/n/n