It Asset Management How Times Have Changed

Writen by Donna Johnson Edwards

When I was little I had a piggy bank complete with a requisite combination lock (needed to keep my younger brother from pilfering). Each week, on Friday night when I got my 50 cent allowance, I would lock myself in my bedroom, twist and turn the combination until I got it right and then I counted my prized stash of cash. I always knew exactly how much it would amount to, but I counted it nonetheless. My brother, on the other hand, never used his piggy bank; he put his quarters in his pockets and generally lost them within a few days.

Over time, I began to earn more money through babysitting and odd jobs, but the ritual never changed – lock the door, open the safe and re-count my money. As I reflect, I think about the time I wasted re-counting my money but I also remember the delight I experienced each time as I dreamed and planned how to spend my dough! It would have been great to push a button and have a "piggy bank statement" printed at any time confirming that my money was where it should be and how much I had available. It would have been better still to earn "piggy interest" on my quarters! That would be real optimization!

These memories came flooding back to me when I was pondering the topic of IT Asset Management and how ineffectively some businesses track and manage PCs and other IT equipment. Demands for increased staff productivity and greater return on IT investments have pushed the need for better asset management and vital solutions.

Recently, I sat in the office of a large organization discussing this very subject with an IT manager. When I asked him if he had ever analyzed the use of software in his organization his reply was "We don't really care if the software deployed on our standard image is used or not, it's just easier to support if we give everyone all of the applications."

I shook my head; I've heard this rational before, in fact, I've used it myself in the past. What I've learned since then has changed my way of thinking regarding costs and efficiencies.

Some IT managers believe that software licensing concerns are simplest to address by using a standard corporate image (a PC configured with standard software applications deployed to all users within the corporation). While it may seem simpler, one must ask "what happens to standardization once that PC has been delivered to the end user?" I'll tell you, in many organizations the end user immediately begins to alter the standard image to the point there is no longer any homogeny within the business assets.

My second question is this, "why pay for software that isn't needed or used?" Besides, why on earth would you continue to pay expensive maintenance on software that isn't beneficial to the company? Experts estimate that optimizing maintenance contracts can save a business from 5% to 15%. When was the last time you got a budget or salary increase in the 5-15% range?

According to The Gartner Group, "enterprises that fail to integrate usage and inventory data to manage its software assets will overbuy licenses for 60% of their portfolio and still be non-compliant on 30%." With proper usage information, managers can make informed and more effective decisions about the needs of end users as well as the use of resources.

For example, one company recently monitored employee use of a particularly expensive software package. They discovered that, although the product was licensed and deployed to all users, only about 2/3 of the staff ever used it. In addition, it was discovered that an inexpensive emulator was a suitable replacement for all but the core power users. The results were savings of nearly a million dollars! I would say, certainly in this case, that end-user usage information can be very valuable to an IT manager. What's more, these are the types of savings that would make any CEO dance the rumba!

Additionally, Gartner experts estimate that up to 30% of an IT budget could be saved by effective IT asset management. Further, that 70% of organizations have a 30% discrepancy between planned and actual IT inventory. Ouch that hurts! Why not use that 30% to increase budgets for training, salaries, upgrades and new projects?

Besides software licensing and maintenance agreement savings, there are a host of additional benefits stemming from successful IT asset management. Every IT manager would benefit from saving time and effort expended planning for technology upgrades of any size. For years, most of us have tracked our assets in a spreadsheet, desperately hoping that it contained fairly accurate information.

When it came time to prepare for an upgrade, usually the low man on the totem pole (or an outside temp) was tasked with verifying the accuracy of the spreadsheet data. This method generally entailed walking from machine to machine checking against a list of criteria. The entire endeavor was painfully slow, dreadfully inaccurate and miserably inefficient, but hey - great exercise for the temp!

Once the data was gathered, a manual method was used to determine which machines needed what hardware and software. Once that task was completed one could price out the upgrades, prepare a budget for management approval and hope there wasn't noticeable margin of error. Yea, sure – better add 10% just in case!

I really like living in the new millennium, the whole exercise of gathering data on IT assets has been revolutionized. Now, in a matter of a few mouse clicks, a good asset management application can provide up to the minute information needed to plan for an upgrade. Not only can these tools provide information on hardware, but also software versions, patches, etc. Having accurate data available in a dynamic system proves to be a huge forecasting timesaver and can also be used, among other things, to reduce virus incidents by identifying systems that are at risk. Besides planning for upgrades, simply keeping track of assets that seem to forever grow legs and walk away on their own can be a daunting task.

Another bright spot for IT managers who use asset management tools effectively is improved efficiency at the help desk. IDC reported that downtime can be reduced by 10% and person hours on recovery can be reduced by 22% for businesses that practice good asset management. I read another figure that touted a 25% reduction in average help desk call time. This enables the closing of more trouble tickets per day and gets end users back to work faster.

I certainly remember the days when a help desk call started out with questions such as "What type of PC do you have? What version of Windows are you running? Did you install anything new recently?" And if you're laughing now, it's because you know the answer is always "NO! I haven't installed anything!" End users never admit to installing or doing something that could have possibly caused their system to misbehave!

With today's tools, support staff can easily view hardware and software configurations without any end user interaction thus saving time on each and every support call. Having this IT "x-ray vision" debunks the myth that standard images are easier to support because a standard image generally fails to remain standard after deployment. Being able to see what has happened to morph that PC really does make support easier and faster!

Secondly, most good tools will provide a "history" or a "change" flag that can clearly identify what software changes have been made that might have triggered the problem. This feature can also be enlisted to enforce policies prohibiting users from installing unauthorized software onto their assigned systems. In the event of serious troubles, these records can provide valuable forensic evidence.

Moreover, good asset management tools and techniques can actually prevent the need for a support call in the first place by allowing for proactive PC management. If a flaw or vulnerability is identified in a particular software version, those affected PCs can easily be identified, isolated and a fix or patch pushed out before the problem erupts.

This proactive approach certainly beats the tar out of the "old fashioned" method of grab a disk and run when a caller reports a system failure. And it truly beats hearing the words "it's going to be a long night, better order in dinner, we've got to touch every machine before we can go home." How many pizza dinners in a row can your digestive system actually tolerate?

In general, businesses will see significant benefit from using an efficient asset management tool (in addition to an effective underlying process) in the areas of software licensing, maintenance costs, lease and contract management, support and help desk efficiencies, reduction in vulnerabilities and even with asset disposal concerns. (See my earlier article regarding IT asset disposal for a list of those worries!)

To get the most out of an asset management tool, carefully research the array of products available. Don't be penny wise and pound foolish by merely selecting the least expensive or most widely recognized products. Every IT environment is unique and requires tools that can adapt to, or blend with, those specific needs.

To get started on the selection process, create a company-wide team to evaluate asset management tools. Enlist the input from each department that has any role in relation to IT assets. The team should include members from finance, purchasing, accounting, IT, security, training, risk management, etc.

A good tool can and should help manage assets throughout the entire lifecycle – cradle to grave. Consider what tool features would make it easier, faster and more accurate to budget, purchase, receive, deliver, upgrade, support, use and retire an IT asset. Once your team is in place, create a list of the top 25 features and benefits desired in a tool. Create a list of tool vendors offering products that meet your criteria and arrange for an on-site demo of the product for the whole team (not just IT).

At this point, hopefully, between face to face meetings with the vendor, the demo, addressing compatibility issues and pricing options, a short list of tools will emerge. Arrange for an on-site evaluation of at least two, perhaps three of the preferred tools. Assign specific roles to each team member in the evaluation process to ensure that all functions are fully experienced.

Once a tool has been selected, don't dare cheap out on training! At least one, preferably two, staff members should receive thorough training on the use and support of the product. Consider hiring an experienced professional to install, configure and document the program. Lost time due to inexperienced staff struggling to learn a product can quickly sabotage any project. Further, an experienced professional will be able to optimize the tool configuration and reporting functions.

An asset management tool can be a costly investment for any organization, but one which if installed properly and used efficiently, will provide for reduced cost of ownership for IT assets and such tools generally provide a positive return on investment within 12-24 months as well. When you add the benefits of increased staff efficiency and reduction of risk into the mix, the justifications for the expense will be well founded.

What is being done to manage IT assets in your organization? Are you continually tossing your IT budget dollars into metaphorical pockets or are you keeping accurate tabs on those valuables? Moreover, what has been done to not only track and manage the IT assets, but to optimize the return on those investments?

Donna Johnson Edwards has more than 20 years' experience implementing and managing IT projects for companies including the Federal Judiciary, IBM/Lotus and Hamilton Beach Proctor-Silex, where she was the senior member of the New Enterprise Technology Team.

Her clients include Fortune 100, 500 and 1,000 companies as well as not-for-profit entities. Her background includes both the technical and the business aspects of IT projects.

Questions To Ask Employees You Want To Retain

Writen by Lora J Adrianse

Times of cost cutting and downsizing has dramatically impacted the way employees look at their careers. Employees at all levels now know better than ever that job security is no longer something they can count on. They've been required to think bigger, look at other options and do whatever it takes to prepare themselves for the future. In essence, they have let go of their corporate commitment and become "free agents" in search of the best opportunity available.

"Retention of talent" has become a key strategy for the largest corporations around the world. Some are looking at things like building new fitness centers. Others have gone deeper and are looking to their leaders to become more competent "retention managers".

Take time now to start talking to your people, really listening to their responses and taking action to change what needs to be changed. Here are a few questions to get you started:

1. What would make your work more meaningful and satisfying?

2. What conditions would cause you to seek employment elsewhere?

3. What is it that keeps you from seeking other employment?

4. What changes need to be made in your work environment?

5. How do you like to be rewarded and acknowledged for a good job?

6. What is your greatest challenge or roadblock?

7. What makes you feel like a valuable contributor?

8. What support, tools/resources, skills or empowerment do you need to be more effective?

9. What strengths or talents do you have that aren't being utilized?

10. What de-motivates you?

11. What else needs to be asked?

About The Author

Lora J Adrianse is the owner of Essential Connections. She is a Coach, Consultant and Facilitator who specializes in the development managers and business owners. She recently left a long-term corporate career to focus on her passion for helping others bring out the best in themselves through the use of Emotional Intelligence. She can be reached through her website www.connectionscoach.com; coach@connectionscoach.com

The Howl Issue 3

Writen by Rick Johnson

I hope everyone had a great Thanksgiving and looking forward to an even better Christmas. I personally am now getting into the Christmas spirit after spending all day Saturday and most of Sunday putting up the lights outside and helping decorate the tree. As this year comes to an end and we celebrate the holiday season, most of us have a lot to be thankful for. I know I count my blessings everyday and look for opportunities to reach out to others that may need help, support or encouragement. Have a wonderful holiday season and a prosperous New Year. Reach out to someone.

If you missed Issues #1 & 2, e-mail: rick@ceostrategist.com for copies of these issues.

This month's issue contains:

• The Housing Bubble --- Is It Finally Ready to Burst?"

• First in a series on "The Challenges Facing Family Owned Businesses"

--- How can you turn over your business to your children without creating chaos?

• Kids and Guns

• 15 Revealing Questions To Ask A New Sales Candidate

• Client Corner --- "My Kids Can't Cut It"

The Housing Bubble --- Is It Finally Ready to Burst? ---- Economists have been predicting the burst of the bubble for the past five years. Every year they have been wrong. 2005 was supposed to be the year when things really started to slow down. Low and behold, 2005 was another banner year. Those in the building supply business are sitting around smiling as they count the profits. I am not an economist, thank God, but maybe, just maybe the economists are going to finally be right as some signs are beginning to show that may indicate a slow down in the housing boom. And of course, the auto industries problems, specifically General Motors with their recent layoffs and plant closure announcements just adds strength to this conjecture. What's the old saying? "So goes General Motors, so goes the economy."

Sales of existing homes fell almost 3% in October and the decline could have been higher except for the demand created by the surge of Hurricanes, especially Katrina. The level of unsold homes in October was at its highest peak in nineteen years. Some of this may be attributed to the fact that prices have risen at a pace not seen in twenty five years. A chief real estate economist stated; "The housing boom has likely passed its peak. (We have heard this before) The boom is winding down. I expect continued softening in housing." (David Lereah, chief economist for Realtors.)

Economists also predict that the buildup of unsold homes across the nation would dampen the surge in prices that saw 69 cities report double digit price increases this summer compared with third quarter 2004. Another prediction is an additional ½ point increase in interest rates by June of 2006 which could create a slow down in price increases to about 5% next year.

In reference to new construction, it also has shown signs that the bubble may be ready to burst. Housing construction and new building permits were down sharply in October. The Commerce Department reports that construction of new homes and apartments fell by almost 6%, which was the biggest decline in seven months. Applications for new building permits fell almost 7%, which is the biggest decline in six years. Nariman Behravesh, another expert chief economist stated, "We are likely to see a steady downward trend in housing activity over the next few months. Mortgage rates are at the highest level seen in more than two years." National Association of Home Builders said a new survey showed builder optimism fell in November, the largest amount since the September 11th terrorist's attacks.

So, is the bubble ready to burst? Many economists seem to thinks so. However, the statistics cited have been cited in the past. The predictions of a bubble burst have been reported in the past. On the other hand, some economists disagree at least partially. David Seiders, chief economist for home builders stated that he believed that sales of both new and existing homes, while still setting records for a fifth consecutive year in 2005, will only see a small 5% decline in 2006. This would represent a very soft landing (5% is not much considering the growth we have experienced over the past five years). Do they really know? Who knows? Maybe that's why Roosevelt said he would only deal with "One Armed Economists." So they couldn't say, "On the other hand"…

Be cautious in 2006. Don't panic but don't bet the farm. Initiate a contingency planning process. If you don't need the plan in 2006, so what, sooner or later the economists might get it right and that contingency plan that you have tucked away will become invaluable.

__________________________________________

First In A Series On Family Owned Businesses------ In 2006 we will try to cover many of the issues and challenges in "The Howl" that face privately held family owned businesses. Every family owned business faces difficult challenges. Readers are encouraged to e-mail rick@ceostrategist.com with comments, questions and topics for discussion related to the challenges faced by family owned businesses.

How can you turn the business over to your children without creating chaos--- This is probably the toughest question any business owner that has family working in the business will ever face. However, the answer is simple. The answer is….. It depends. It depends on how well you (the owner) have prepared yourself and your child for this transition. Have you planned this out? Has your successor been trained, developed and prepared for the transition? This is pretty easy if you only have one child in the business and he/she just happens to be the next Jack Welch of wholesale distribution. This child has worked outside the business for someone else for a minimum of five years. They have completed their MBA and they worked their way up in your organization starting in operations or customer service. They don't walk around with their silver spoon visible and they don't wear their family title on their sleeve. "Piece of Cake!"

Let's face Reality--- That scenario, although it certainly does exist, is the exception and not the rule. In most cases privately held businesses generally have several family members working in the business. When the president has more than one child in the business, things start to get more complicated. Before we dive into that challenge, "How do we select the next President?" let's review a few statistics.

• Family business is the driving force behind the US economy providing over 50% of our employment

• 59% of family owned businesses have only 1 or 2 owners

• 25% of family owned businesses surveyed in 2004 stated they would seek non family member CEO's for succession

• Key areas that family owned businesses seek advice and counsel on include:

--- Strategic Planning

--- Organizational Design

--- Operational Effectiveness

--- Leadership Development

--- Succession Issues

--- Compensation

--- Sales Effectiveness

--- Risk Management

Now, how do you decide on who should be the next President? If you are not one of the lucky few described in the opening scenario and you have multiple family members working in the business, your stress level is already at a high point. First, many if not all family members working in the business have feelings of entitlement to some degree. This is generally true of at least one if not all of the president's kids. Choosing the next president becomes even more difficult if the children have used their name as a title instead of the actual title of the job function they performed and the position they hold in the company (This is often unintentional and some kids don't even realize it). This difficulty increases exponentially if none of the kids have demonstrated a high level of competence, respect for all employees, leadership skills that pattern the servant style and at least some promise of potential to fill the president's shoes.

Although the majority of parents would prefer that their children take over the business and carry on the family legacy, this is not always the best option available. I know it is difficult for any parent to admit that their child may not possess the skill sets necessary to take over as President of the company. However, that situation actually does exist in many family businesses.

What are the options if Junior isn't ready? --- The first two questions to ask yourself are: "Will Junior ever be ready?" "Does Junior have the ability to learn how to become President?"

As difficult as it is to accept, your answers to these questions alone are not good enough. If you have a Board of Directors, you should solicit their input and recommendations. Hire a Human Resource Consultant to do an assessment of not only Junior but other executives in your organization that may be qualified for the Presidency. Conduct 360 degree reviews to get input from peers and subordinates. Precisely define the Presidents role and responsibilities and match these requirements to Junior's skill sets. If you don't have a board, create one before the transition. Include the following action items as part of the transition plan:

• Create a development transition training program for the new President (This should be designed as an internship)

• Clearly define the former Presidents role after the transition. Will he remain and come into the office? Will he become Chairman of the Board? What responsibilities will the former President retain?

• Manage the expectations of other family members. Do not allow family tension to create tension in the business. This could lead to employees taking sides.

• Use your attorney to cover all legal issues

• Create a real Board of Directors

The Family business can be complex--- The family business structure can be complex and confusing. This is especially true when numerous family members work in the business. The business is composed of interdependent relationships between functions and people that depend on the ability to work toward common objectives. A family owned business with multiple family members has twice as many opportunities for mistakes, resentments and complacency. Teamwork is essential and effective communication is critical. It is of paramount importance that employees are recognized as the true reason for success. Family issues must not penetrate the business environment. Holding family business meetings, off site, on a regular basis is highly recommended.

These meetings should be used to air feelings, check boundaries and clarify roles and responsibilities as they are being played out. The President must keep his finger on the pulse of the company culture and environment. Family members must be challenged as issues arise that are detrimental to the long term success of the company. Some companies create a "Code of Conduct" just for this reason. Regular confidential employee surveys are also a useful tool in this regard. (E-mail rick@ceostrategist.com for a complimentary copy of "A Guide to Leadership Succession in the Family Business")

It's your company, it's your legacy and when all the cards are played it is still ultimately your decision. Listen to your employees, listen to your executive team, get some outside advice and then ----- trust your instincts as a professional business person. Remember, you can always sell the business or bring in an outsider as President.

__________________________________________

Kids and Guns ------ I'm probably going to get a lot of negative feedback about this but so be it. Just prior to sitting down for Thanksgiving dinner I was reading the local newspaper and came across an article titled, "How young is too young to hunt?" The newspaper had a picture of a young boy, 6 years old holding a .223 caliber rifle with a scope. He was all dressed up in camouflage gear. The article talked about this young boy killing his first deer when he was five years old with one shot from his .223 caliber rifle. The boy himself was excited as he talked to the reporter.

"I shot it right behind the front shoulder. Dropped it right in its tracks," the boy said. This boy of six stands 4 feet tall and weighs 50 pounds. He's a good student that earned an award for responsibility in kindergarten that year. KINDERGARTEN!

But he'd rather be hunting. "I like it," he said. "Shooting a gun and shooting at the animals and killing them."

The article went on to talk about an eight year old girl that made headlines last month by shooting the first black bear of the season. This was in Maryland and there is no minimum age limit for hunting. You have to be sixteen or eighteen in most states to drive a car but you can shoot a .223 caliber rifle with a scope at 5 years old. Now, I have to say that although I am not a hunter, I am not opposed to hunting. I am also not opposed to guns. I own one myself. After all, it's legal to carry a concealed weapon in Florida (It's a matter of state pride that we return fire in a drive by!) But, I do shudder when I think about a five or six year old in the woods with a .223 caliber weapon, even if they are with their Father who may be an expert hunter. A .223 caliber rifle can kill someone or something a mile away. Beyond that, how do we determine that the maturity level and the responsibility level of a six year old are such that what is learned about weapons in the woods stays in the woods when that child begins to mature?

Yes, the federal government spent a lot of money on a study that said, "Guns do not turn children into criminals." This study concluded the best way to reduce firearm related violence is to buy them a gun and teach them how to use it responsibly. Give me a Break!

Let's not forget, guns are unregulated consumer products. In Texas guns are said to kill six children and teenagers every week of every school year. I personally believe that guns and kids are a volatile combination. Between 1996 and 2000, 1,541 children died in Texas from gun violence and for every child that died, four others went to the emergency room for gun related injury. Six out of ten child suicides are completed using guns. And this is just in Texas.

To close my RANT and OUTRAGE about a five year old with a .223 caliber rifle, I want to site a project called the "Lion & Lamb Links". This was a study that asked the question, "What do you think your pre-schooler would do if he or she found a real gun---- after repeatedly warned NOT to touch a gun." The results of this project are shocking.

First a police officer was brought into a class of 60 children. His message was clear and precise. "Don't touch guns --- they are deadly and dangerous. If you see a gun, leave the area. Tell an adult." The children were asked to repeat his words and they could answer his questions. They were later left alone with disarmed guns and the majority of the children picked them up and shot everything in sight. This was reported by Hardy in a NY Times editorial.

The second study with a different group of children lasted five days. The children were instructed on how to make good choices, how to resist peer pressure and how to distinguish toys from dangerous objects, guns. The results were the same. When left alone the children began playing with the guns just as group one did. Most of the six year olds could tell the difference between the toy guns and the real guns but they played with them anyway.

Ask yourself, would your kid play with a gun, even if you trained him in the woods to hunt? Does your six year old have the maturity to handle the knowledge about something as deadly as a gun?

I apologize in advance to my gun distributor friends. But I've got to say, I would be awful nervous hunting in the woods knowing there were 5, 6, 7 & 8 year olds in those woods with loaded rifles. In fact, you won't catch me near the woods during hunting season.

_______________________________________________________________

15 Revealing Questions To Ask A New Sales Candidate

1. Tell me about why you want to succeed at sales.

2. Where does your sales passion come from?

3. What is the last sales book you read?

4. Tell me about the last book you've read on creativity.

5. Tell me about the biggest sale you ever made.

6. What was the biggest reason you got it?

7. Tell me about the biggest sale you lost.

8. What do you say when a prospect says, "I want to think it over"?

9. What do you say when a prospect says, "I'm satisfied with my present supplier"?

10. What do you say when a prospect says, "Your price is too high"?

11. How often do you listen to or read personal development information?

12. When did you attend your last seminar?

13. How do you improve your presentation skills?

14. What is your most creative approach to follow-up?

15. Give me your 30-second personal commercial. Your elevator speech.

These are just a few examples to get you started in the interview.

__________________________________________

Client Corner

Rick

I just turned 70 years old. I am ready to turn over the reigns of my company to one of my three sons. I own a ____parts distributor with revenues that should exceed $48 million by year end 2005. All three have worked in the business for the past 15 years. I don't want to sell and I really want one of my sons to carry on the family legacy. My problem --- I don't know which son to hand the Presidency to. I hired a consultant to do an assessment to help me make a decision. The consultants, after doing a battery of tests and interviews determined that my current Vice President of sales is the only internal candidate that is qualified to take over as President. This gentleman has been with me for 25 years, he's a great guy, and I have no doubt that he can do the job but he is not one of my sons. To complicate matters even more, the son that I was leaning towards handing the Presidency to got the worst rating of anybody on the 360 degree review. In fact, the consultant privately advised me that I should consider getting this son out of the business before my transition into retirement. They also advised that one of my two remaining sons may be able to step it up and take over the reins in three to five years. He is 45 years old now. I can't wait that long to retire. What do you recommend?

George ------ Mid West

Dear George:

You are facing quite a dilemma. Obviously, the easy answer is to sell the business. However, I take it from the passion in your memo that you will not consider that option. At 45 years old your son should be ready to take over as president now. If he is not ready now, chances are not great that he will be ready in 3 to 5 years. You haven't done a very good job as his coach and mentor. That being said, if you are adamant about one of your sons taking over the business you might want to consider this scenario. Appoint your VP of sales as your successor with the understanding that one of his primary responsibilities is to develop your son to take over the company in three years. Make sure that you are generous to this VP in constructing a contract that makes him well if something happens to you and your sons decide to throw him off the bus. If your son doesn't develop enough to really run the company in three years, you might consider leaving your former VP of sales in the role of President and appoint your son CEO. He could be the outside face for the company, carryon the family name but have your President run the business on a day to day basis. This assumes that your son is willing to play that role and supports the President in his day to day role. It is not the ideal solution but it is an option that can be considered. However, be very cautious in determining what your sons are willing to accept and how they will react. A family legacy means nothing if the business goes down the tubes due to internal strife caused by intolerable family issues. This is a short answer that requires a lot more discussion.

Good Luck and let me know how things progress.

Rick

http://www.ceostrategist.com E-mail rick@ceostrategist.com for prior issues of The Howl. Dr. Rick Johnson (rick@ceostrategist.com) is the founder of CEO Strategist LLC. an experienced based firm specializing in leadership and the creation of competitive advantage. Rick received an MBA from Keller Graduate School in Chicago, Illinois and a Bachelor's degree in Operations Management from Capital University, Columbus Ohio. Rick completed his dissertation on Strategic Leadership and received his Ph.D. on April 15, 2005

Creativity And Innovation Management Core Competencies And Competitive Advantage

Writen by Kal Bishop

Following is a brief definition of core competencies and competitive advantage and their fit with creativity and innovation management.

Core Competence:

A core competence is one which critically underpins the organisation's competitive advantage. Companies can differentiate themselves from their competitors with specific core competencies, but often not for long. The differentiation is difficult to sustain and can often be imitated by competitors.

The integration (and attainment) of constituent skills that is the distinguishing mark of a core competence, is achieved and sustained through developing strong dynamic capabilities, particularly in a world of innovation based competition.

Competitive Advantage:

Whilst a core competence is a source of competitive advantage, not all competitive advantages arise from core competencies. Often seemingly unassailable advantages prove transitory because of a change of underlying factors. The very existence of competitive advantage sets in motion creative innovations that, as competitors strive to level the playing field, cause the advantage to dissipate.

Recognition of, and adaptation, to change is thus a pre-requisite of successful strategy. For many organisations, the only truly sustainable advantage comes from out-innovating the competition.

These topics are covered in depth in the MBA dissertation on Managing Creativity & Innovation, which can be purchased (along with a Creativity and Innovation DIY Audit, Good Idea Generator Software and Power Point Presentation) from http://www.managing-creativity.com. You can also receive a regular, free newsletter by entering your email address at this site.

You are free to reproduce this article as long as no changes are made and the author's name and site URL are retained.

Kal Bishop MBA, is a management consultant based in London, UK. He has consulted in the visual media and software industries and for clients such as Toshiba and Transport for London. He has led Improv, creativity and innovation workshops, exhibited artwork in San Francisco, Los Angeles and London and written a number of screenplays. He is a passionate traveller. He can be reached on http://www.managing-creativity.com.

Virtual Assistance A Money Saving Opportunity For Employers

Writen by Heather Bresser

What is a Virtual Assistant? A Virtual Assistant is a highly skilled, independent entrepreneur who provides business services in a remote or virtual environment. Some have used terms like telecommuter or working from home.

Employers are looking for alternatives to having a full-time employee. Hiring a skilled Virtual Assistant helps to cut costs normally associated with on-site employees (no need for extra overhead and space, taxes, benefits, continued training), and frees up valuable time to focus on higher priority tasks that will inturn increase profits.

Assistant For You!, a Puyallup based a virtual assistance and web design company, specializes in website design and promotion, Administrative and Real Estate Support.

November 1, 2003 marks Assistant For You!'s first anniversary. Ms. Bresser attributes her success to keeping on top of the current trends in targeted industries allowing Assistant For You! to adapt to specific client needs.

For those wanting to start a Virtual Assistance company, Ms Bresser suggests, "niche in an area that you are not only good at, but love to do." She urges finding an established Virtual Assistant as a mentor during these rough start-up phases. "Having a mentor will help you avoid pitfalls that many face," says Ms. Bresser.

For more information about the Virtual Assistant industry and why you should hire one, contact Assistant For You! today. We can be reached directly by phone at (253) 537-7703, by email at heather@assistantforyou.com.

About The Author

Heather Bresser, Virtual Assistant and business owner of AssistantForYou.com, offers high energy and her outgoing personality to her varied clients, and has been able to help them with marketing and growing their businesses through providing innovative website design and marketing strategies.