Featured Articles: The Euro’s Future…Can Be Found in the Dollar’s History; The 21st Century Change Agent: The CEO as Social Architect; Control Suppresses Engagement
Operational Excellence by Design
– A cross-disciplinary approach in the pursuit of perfection.
The Euro’s Future… … Can Be Found in the Dollar’s History
By Joseph Paris; Chairman, XONITEK Group of Companies
There was a time in the not too distant past where the currencies of the world were made of precious metals – usually gold or silver – and carefully crafted into coins with specific weights to be used in trade. Not only were the coins made from gold and silver tangible (you can “see and feel” the value) and useful (for jewelry, goblets, and the like), they were also rather rare; increasing their value.
For a variety of reasons, modern currencies issued by governments around the world are no longer made with precious metals, but are rather “faith based”. In that, any given currency has value only because people who accept it as payment perceive that it has value – and not because it is collateralized by anything tangible. Such money is known as “Fiat Money”, which is Latin for “let it be done”. It only possesses value because of government regulation or law – and the faith of the people in that government.
Herein lays the source of the trouble with the Euro – an erosion of credibility and faith.
The 21st Century Change Agent: The CEO as Social Architect
By Stephen Long, PhD
Transformation efforts fail due to many reasons. Usually there’s a lack of urgency, executives underestimate the power of resistance or they are just too complacent. The bottom line is that most CEOs fail to master change-agent skills. The 21st Century is proving to be a turbulent, volatile era and chief executives who’ll successfully lead their organizations will have one thing in common – they’ll be the Social Architects of their organization, designing systems for consistent high performance.
I know a successful global corporation where the Employee Engagement scores consistently range between 20 to 30 percent, and sometimes reach 40. Whatever new training or policies they institute, Engagement stays stuck. Yet, one division has Engagement scores in the 90s. No one elsewhere understands, even when it is explained to them. What’s present in the one division that’s missing in most of the company?
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