Book reviews / BoganmeldelserPosted by Mikkel Gudsøe Tuesday, July 03 2007 21:43:13Lad mig starte med at slå fast, at bogen Adm. Dir. / CEO bestemt er en særdeles kompetent bog, der bør læses af især nye eller spirende ledere. Givetvis kan også erfarne ledere finde inspiration i bogen eller få genopfrisket dyder og evner, der måske er gledet lidt i baggrunden med årene.
Bogen fastslår grovkornet følgende:
Langsigtet aktionærværdi er succeskriteriet for enhver virksomhedsleder.
Ledelse er at træffe de rigtige beslutninger og lederskab er at kunne motivere og inspirere de ansatte til de rigtige handlinger. Disse kompetencer bør nøje dyrkes og stedse udvikles.
Dybdegående økonomisk indsigt i virksomheden er altafgørende. Hvori tjener virksomheden sine penge og hvilke aktiviteter er tabsgivende her og nu samt på sigt?
Der skal vælges en vindende forretningsmodel konstrueret af de rette kompetencer og ressourcer, indsigt i virksomheden og de ansattes indsigt heri og dem selv og ledelsen og lederskabet skal gå forrest i energi niveau og entusiasme.
Der skal ikke hviles - men stedse forbedres.
Udover en ganske grundig beskrivelse af indholdet og formålet med ovenstående krydret med beskrivelser af succeshistorier fra kendte administrerende direktører, så indeholder bogen også en del omkring lederens forhandling af lønpakke (bonus bør være langt den største post for at sikre dedikeret ledelse) samt lederens omgang med investorer (størst tidsforbrug ønskeligt) og analytikere (mindre tidsforbrug ønskeligt).
Del 4 om toplederens værktøjskasse giver inspiration og ideer til tiltag, som klart bør overvejes hvad enten situationen påkræver ændringer her og nu eller situationen er fornuftig men fordrer proaktivitet.
Bogens 255 sider er godt skrevet og bevæger sig fornemt i balancen mellem det lidt teoretiske til det ganske praktiske.
Bogen får de bedste anbefalinger herfra.
Mikkel Gudsøe
Book reviews / BoganmeldelserPosted by Mikkel Gudsøe Tuesday, June 26 2007 14:06:08Kære Læser,
Grundet travlhed kommer der en samlet anmeldelse og ikke kapitel for kapitel af ovennævnte bog.
Forhåbentlig i eller lige efter weekenden.
Med venlig hilsen
Mikkel Gudsøe
Book reviews / BoganmeldelserPosted by Mikkel Gudsøe Tuesday, June 19 2007 20:24:04Jeg skal være den første til at beklage, at anmeldelsen af bogen CEO/Adm. Dir. er gået i stå og indlæggene i det hele taget været få i den seneste tid.
Det skyldes, at jeg har arbejdet på og forberedt ganske målrettet advokateksamen, som jeg d.d. på Hotel Nyborg Strand skulle bestå.
Det gjorde jeg så på fin vis (den bedømmes bestået/ikke bestået med evaluering) - og det er jo altid rart og der skulle nu gerne blive lidt mere tid til fordybelse i interessante bøger m.v.
Eksamensemnerne var kontraktskoncipering, ansættelsesret og retssagsbehandling og konflikhåndtering nænsomt krydret med advokatetik, klientkontoregler og hvidvaskloven.
Eksamen gennemføres som et fiktivt klientmøde med 35 minutters forberedelse af en case med 6 problemstillinger af forskellig art under de udtrukne emner. Derefter følger 35 minutters eksamination ved en eksaminator og censor (erfarne advokater eller dommere), der indtager rollerne som klienter i en rådgivningssituation.
Jeg vender snarest tilbage omkring forhandling og boganmeldelse etc.
/Mikkel Gudsøe
Book reviews / BoganmeldelserPosted by Mikkel Gudsøe Wednesday, June 06 2007 16:35:12Bogen er inddelt i 4 dele bestående af i alt 22 kapitler og et bilag A og B.
1. del – ”Grundlaget for succes” – indeholder kapitlerne 1-3 med titlerne: Hvad betyder succes for en topleder?, Hvem er den perfekte topleder? og Ledelse og lederskab.
Jeg vil kort her referere de væsentlige pointer, som bogen fremkommer med. Hver del indledes i øvrigt med et forhåndsresume and, hvad den pågældende del vil omhandle og dens konklusioner, hvilket til sidst i hvert enkelt kapitel igen opsummeres, hvilket er med til at holde en fornuftig tråd ud fra devisen jeg vil kalde: mål-hvordan kommer vi til mål-mål.
Kapitel 1: Hvad betyder succes for en topleder?
Kapitlet betoner mange gange og således ganske eftertrykkeligt, at langsigtet succes = langsigtet aktionærværdi.
Heri ligger i ord og handlinger, at samtlige interessenter i virksomheden pleases i form af en konstant øget værdi, der langsigtet alene lader sig opnå gennem tilfredse og motiverede medarbejdere, der skal dygtiggøres og effektiviseres løbende og gentagen.
Således redegøres for og forkastes som økonomisk irrationelt, at succes de facto er lig med virksomhedens blotte overlevelse, tilfredsstillende kundeservicering, øget overskud og/eller øget størrelse. Flere af disse mål hænger sammen og er naturligvis (eller kan i hvert fald være det) en del af, hvad man traditionelt forstår ved en succesfuld virksomhed – men er ikke et målbart instrument for virksomhedens sundhed.
Bogen konkluderer at langsigtet aktionærværdi er og bliver hovedparameteret i målingen af toplederens succes.
Toplederen må altså:
1) Fokuserer på virksomhedens succes frem for sin egen,
2) Skabe aktionærværdi, der
3) Samtidig giver økonomisk værdi, så den bundne virksomhedskapital kan tilbagebetales, men at
4) Øget aktionærværdi ikke betyder, at andre formål ikke kan forfølges – de skal blot være værdiskabende og i hvert fald skal virksomheden som minimum samlet set skabe værdi.
TSR-resultatet – Total Shareholder Return – skal være godt.
Som det siges: ”Ingen ledere som har præsteret et dårligt TSR-resultat over længere tid, er nogensinde blevet betragtet som gode topledere.”
Med Kursstart = Aktiekursen i starten af en given periode, Kursslut = Aktiekursen ved slutningen af en given periode, Dividenden = betalt udbytte og TSR = Total Shareholder Return, da vil TSR kunne beregnes som følger:
TSR = (Kursslut − Kursstart + Dividenden) / Kursstart
(Kilde for beregning: Wikipedia.org)
Nordea (Nordea .dk) beskriver TSR med ord således:
”Samlet afkast til aktionærerne (Total shareholders’ return, TSR)
Det samlede afkast til aktionærerne måles som værditilvæksten i en aktiebeholdning i en bestemt periode, hvor det forudsættes, at udbyttet geninvesteres på udbetalingstidspunktet i yderligere aktier.”
Bogen angiver at kun ca. 26% af alle topledere har et fastlagt mål for en langsigtet TSR.
I stedet anvender mange topledere ERP – Earnings Per Share – som en målestok.
Nordea beskriver ERP med ord således:
”Resultat pr. aktie (Earnings per share)
Årets resultat divideret med det gennemsnitlige antal cirkulerende aktier.”
Med andre ord: ERP = Årets resultat / antal gennemsnitligt antal cirkulerende aktier.
Der findes dog forskellige formler alt efter variation over begrebet.
Kapitel 1 i Adm. Dir. CEO primære succeskriterium og budskab er altså at en topleder må have sit fokus rettet først og fremmest på den langsigtede aktionærværdi – gennem et løbende rimeligt afkast til aktionærerne og altså et godt TSR-resultat.
Toplederen skal derfor kende sin virksomhed godt og grundigt og ikke mindst søge at opnå en dybere forståelse for TSR-modellen, herunder hvad den udviser, hvorledes den påvirkes og i positiv forstand øges og herefter udfinde de potentialer i virksomheden, der kan opfylde dette.
TSR er en "stressend" målemetode for succes idet formlen fordrer at den god sidste periode skal overgås i den næste periode osv. for at opretholde et godt TSR-resultat.
Næste kapitel: Hvem er de perfekte topleder?
Mikkel Gudsøe
Book reviews / BoganmeldelserPosted by Mikkel Gudsøe Saturday, May 26 2007 10:01:46
Dear foreign readers,
The following posts will be a review in Danish on the book Adm. Dir / CEO but I will seek to bring a brief summary in English in each end of every post to keep all readers informed.
The book is of course focusing on the leadership from CEOs and which key areas that are of the most importance to be a successful CEO.
In Danish:
Kære læsere,
De følgende posts vil være en kortfattet review af bogen Adm. Dir / CEO fra Børsens Forlag: http://www.borsensforlag.dk/Books/bookinfo.aspx?ItemNo=8776641228
Mikkel Gudsøe
Book reviews / BoganmeldelserPosted by Mikkel Gudsøe Thursday, April 26 2007 21:43:37Mastering Business Negotiation - a working guide to Making Deals and Resolving Conflict - Chapters 8-12 - Mastering the Accomodation and Avoidance Strategies, Three (or More) Is a Crowd: Mastering Multiparty Negotiations, Mastering the Framing Process in Negotiation, Mastering the Power and Influence Process, Mastering Personal negotiations,
Phew, that was quite a load of chapters and headlines.
The latest weeks I have been extremely busy in teaching at the University of Aarhus finishing this semester and preparing the student for the final tests/exams and of course working and spending quality time with the family.
Therefore I have not been able to update the above mentioned chapters as I have read them.
I have now completed in reading the book - Mastering Business Negotiation - and the last chapters 8-12 have been just as educative as the first 7 I must say.
Having read a vast number of negotiation books I have still not found a book that was "bad". Sure some of the books on the market tends to "look" like each other but that does not of course make them fail, but it could be well argued that they do not bring that much new to the theory of negotiation.
In fact we must recognize that negotiation as a theory is evolving constantly but not that very fast and this might lead to authors inventing new terms already defined under other terms by other authors.
This book however is not even close to being near such category of being "bad" and the terms used are widely well-known which makes it a book that one can easily adapt in reading when being used to read literature on negotiation but new readers will not at all be lost.
The book is very well written with a constant reminder of humour and educative real world (authors) examples of experiences put into a negotiation analyze.
The last 5 chapters pretty much explains themselves in their headlines and they stick to their meanings and the content complies herewith giving a quick understanding of the elements working in the different situations explained.
I can advise both business people or in fact just anybody with the interest in negotiation in buying this book as it tells and learns or reminds you of a lot of practical aspects which is worth having present in most of your business negotiations.
Best regards
Mikkel Gudsøe - heading for the next book on the shelf.
Book reviews / BoganmeldelserPosted by Mikkel Gudsøe Sunday, April 15 2007 19:01:46Mastering Business Negotiation - a working guide to Making Deals and Resolving Conflict - Chapter 7 - Mastering the Art of Compromise and Chapter 8 - Mastering Accommodation and Avoidance Strategies.
The Authors stresses the importance of choosing collaboration as the strategy to pursue in most negotiations.
However it is recognized that sometimes it is preferred to choose to compromise things.
The reason that compromising often is a sure path to wander is that it appeals to the Parties' assumptions of fairness and equity.
Compromising could be boiled down to the phrase: "quick-done-deal-strategy".
By compromising both gets something but do no have to take the long time that collaboration often needs.
The chapter tells in which situations compromising is truly useful and the possibilities of mixing styles in order to end up in a compromising deal.
A couple of the good advises is not to be the one to make the first major concession as it is a problem if the opponent do not reciprocate fairly equally. When the other makes the first major concession you should reciprocate or you will not play a game of compromising but you will be competing and risking the opponent to do that too or simply leave the negotiation...and you with a bad rumour.
Another is not to wait until the last minute to offer a compromise as this could lead the opponent to think that you are in a weaker position and that further compromises could be gained in his favor. Compromises are best given from a position of strength in order not to seem vulnerable.
These are just some of the many advises in the compromising strategy that is very useful in a lot of situations - for example when being in a weaker position where you are not ready to share further sensitive information as normally done in collaboration.
Sometimes a negotiation is simply not worth the struggle or simply not worth considering to enter.
You may choose to accomodate immediately and maybe thereby gaining some goodwill for later negotiations. In such situations it is critical to let the opponent KNOW that you have just given him a "gift" through your accommodation. Otherwise you risk that your accommodative behaviour is simply not recognized - hence no goodwill is achieved.
Accommodation is a strategy which is of great use when the relationship matters to a high degree.
Avoidance however is of course worth considering when the cost of the negotiation outweigh the likely relationship and outcome returns.
In the opponent is simply not in control of his feelings and is being aggressive maybe you should avoid and return when things are cool again.
By choosing a strategy of avoidance you are really - as the chapter ends by saying - "loosing a battle to win the war".
An interesting metaphor explained in chapter 8 is to look at yourself as managin a portfolio of investments in negotiations.
Evaluate and value each negotiation as an investment paper - is it a winner or a loser?
If it is a winner take your time to compete or collaborate to get the deal you want.
If it is a loser accommodate or avoid the negotiation.
Up next is Mastering Multiparty Negotiations.
Best regards,
Mikkel Gudsøe
Book reviews / BoganmeldelserPosted by Mikkel Gudsøe Thursday, April 05 2007 17:31:15Mastering Business Negotiation - a working guide to Making Deals and Resolving Conflict - Chapter 6 - Mastering the Art of Collaboration.
Collaboration is a must-master ablility for any negotiator but is also recognized to be a difficult path to take as your (competitive) opponent might try to take advantage of you collaborative nature and gestures - your willingness to share "confidential information".
Collaboration is really about finding a path to mutual satisfaction - to the extent possible - NOT getting all you want at the expense of the opponent.
The interests of the parties will need to be discovered which can only in the best way be achieved by both parties showing willingness to collaboration and information sharing.
Knowing the parties' interests will give the possibilities of finding and develop creative negotiations and solutions giving a more detailed agreement that satisfies more key issues of the respective parties than a normal competitive negotiation would more likely lead to.
Be aware not to "think" that you are collaborating when you in fact are competitive. Collaboration is not about seeming or being friendly. Collaboration is all about actually and factually serving both parties interests even at the expense of some of your own interests in some cases.
Collaboration as in its definition is of course most applicable in situations where relationships (long term) matters but it must also be noticed that collaborative strategies could be useful in building trust around you or your organization as a serious and fair negotiator in the field.
Trust and honesty is to key figures in collaborative negotiations. The negotiators must trust that information revealed will not later be used against them and that information given by the opponent is true and honest.
Collaborative negotiations take TIME - TIME and TIME.
Alternative solutions based on the parties interests can be found during mutual brainstormings but there a several useful methods described in this chapter. You should read them yourself.
The chapter describes a four-step process for collaborative negotiations:
Step 1: Identify the problem(s)
Step 2: Understand the problem - yours and theirs
Step 3: Generate alternative solutions - in a "free" mind and spirits taking no decisions at this level
Step 4: Select a solution
The chapter also focuses of the intangible assets as reputation and recognition etc.
Tactics on how to handle situations where emotions escalate to distrust and the like putting the collaborative negotiation in the danger of turning competitive.
The chapter is of great use - you will probably hear me say this about the most chapters - this book is VERY competent!
Best regards
Mikkel Gudsøe
