A client of mine explained a situation that prompted me to question a recent research study. The study examined the effectiveness of “Failure” Feedback. The Situation My client, a restaurant manager who we will call Fred, had pointed out a mistake made by one of his cashiers who we will call Ralph. Ralph was helping to assemble “to-go” orders, and…
When I first heard the Institute for Professional Excellence in Coaching (iPEC) foundation principle, “You Cannot Make A Mistake”, I had to do a double take. What did I just hear? I thought, “Of course you can make mistakes! Everyone makes mistakes. I make mistakes practically every day and I have made some really big mistakes!” At the time I…
What is Goodwill for a company? When you strip it down, Goodwill is the value of Trust. Goodwill is an intangible asset (a future benefit that you can’t touch) which exists because stakeholder’s trust the company: they trust what the brand stands for, they trust the company’s collective judgement and they trust in the attributes of the company’s products, services,…
It is understood that modern accounting traces it’s roots back to the merchants of Venice in the 15th century. Luca Pacioli is credited for creating the double entry bookkeeping system to assist those merchants. The bookkeeping that we use today is virtually unchanged from what was developed by Pacioli in 1494.
A lot of people are in emotional and psychological pain right now. Many people are mourning the loss of their jobs or perhaps their career. Some have lost businesses that have been built over decades and countless others are deeply affected by the fear of what will happen next. Then there are the people who have lost loved ones. Whichever…
I subscribe to Harvard Business Review and also follow articles posted by HBR.org on LinkedIn. The articles are usually well written and many reflect influential studies or research that have been recently published related to various business topics. Last week an article caught my eye that was posted March 26, 2020 by HBR.org on LinkedIn entitled “How Restaurants Can Survive…
