Balance: The Key to Building Effective Teams

Professor Katherine W. Phillips, the Paul Calello Professor of Leadership and Ethics at Columbia Business School spoke today at the Credit Suisse offices in New York City. The topic, as this post's title describes: teams and leadership.

Increasingly, companies have been exposed to global competition, and key to staying at the forefront of any industry will be possible if many of professor Phillips' ideas are taken into account.

Here are some of the notes I took from her talk:

Don't use a team if there's no diversity of thought

- even if the group is most brilliant, diversity is key
- social distinctions (color of shirts) could represent diversity
- race, gender, etc

In building teams, we are looking for collective intelligence (CI)
- CI is not predicted by satisfaction, or personality
- CI was found to be predicted by proportion of females (r was 0.23); Equality of turn taking (r was 0.41); Social sensitivity (was .26)
- Listen and integrate was key -- stop talking

Bottom line need group of people, with some diversity, willing to take turns and have a relatively strong level of social sensitivity

Formal definition of a team does not require leadership
- As a leader you're not supposed to get in the way- when a leader feels the need to control, he gets in the way of collaboration

Too powerful leaders stymie teams - Power decreases team performance, as high power leaders make other members keep quite
- Leaders need to balance their input

How to find the balance:- Example company: IDEO -- Masters of process / group design
Its not about having the smartest people, but rather perspective sharing

SIX set-up strategies for maintaining balance:

1. Composition: diversity (function, social, education... You name it)
2. Physical proximity: bring people together for the first meeting
3. Team-specific norms and roles: everybody needs to know who's doing what
4. Shared goal: don't assume you know why people are in the same group. Everyone should buy in to the group's goal
5. Status: maximized for the group, minimized within the group. Every company has a department that feels more important - these hierarchies hurt when groups come together. Can't eliminate the hierarchy, but can surely minimize the status within the group. The group needs to know they are important, and appreciated.
6. Meaningful shared activities: find something that brings them together, and gives them ONE identity. Group outings don't fulfill this- make them work together.

Semana Cultural Sefardi - Mayo 2013

Between May 6th and 10th, Murcia will be enlightened by prestigious political, religious and civic figures - authorities in their own realms.

The Fundacion Don Juan De Borbon España-Israel, run by Don Sadia Cohen Zrihen, has taken the leadership in organizing along the Universidad Catolica de Murcia, la Semana Cultural Sefardi, the Sephardic Cultural Week.

Access the following link to learn more!

http://www.ucam.edu/servicios/extesion/actividades/semana-cultural-sefardi-1/semanaculturalsefardi.pdf

Max Brenner - Chocolate palace!

I recently went to Max Brenner, an exquisite chocolatier in NYC, with my father. The weekend was really a chocolate Odyssey, as we later came across L.A. Burdick, a chocolate boutique, with wonderful service, savours and vision...

This post is short, and merely about page one of  Max's menu. I'm herein attaching a picture of the story he writes. Worthy of sharing to those who envision and dream, but years pass and perhaps the dream remains, non-tangible.

Keep dreaming, but seek one day to concretize. Max did.

@hcapriles mi propuesta, las 8 estrellas!

@hcapriles, Henrique, no se cómo llegarte... Pero espero que alguien en tu equipo le pare a esta propuesta.

Mucha gente propone ideas, y la mayoría pasan de largo. Hoy me senté a buscar inspiración en las estrellas... Y no tuve que mirar muy lejos, las conseguí en nuestra bandera.

Salgan con ideas de 8 proyectos grandes, denles nombres que resuenen y expliquen a niveles básicos lo que signifiquen.

Lo que veo es que hay un pueblo venezolano con hambre que se deja llevar por ideas que resuenan con ellos, no personas, discursos ni mucho menos política. Han visto, a pesar de corrupto, el ejemplo de un gobierno que les ha dado pan y techo a algunos, quienes jamás se sintieron parte de una sociedad. Esa categórica esperanza los hace creer que les viene más de eso, y diluye el ruido que provocase cualquier corrupción y negligencia por parte del chavismo.

La cantidad de "Chavistas con Capriles" que pueden existir es innumerable. La mejor manera de ganárselos es saliendo a la calle a darles ideas específicas de como ellos ganarán al elegir a Capriles: en panfletos!

Presenta un plan: Un proyecto. Algo por lo que sueñen- tangible y basalo en un símbolo nacional- la bandera!

"crearemos el METVEN. Movimiento para la Educacion de Todos" el cual promete que todo niño bajo tal edad recibirá acceso a programas especiales de educación avanzada con tal y tales puntos.

Usemos insignias como METVEN, y creemos 7 otros más: VESOTO, PAN, DEN... Etc que cada programa se enfoqué en un tema diferente, de manera que todo venezolano se sienta identificado con por lo menos dos de ellos!

Que el venezolano cuando vaya a votar se olvide de todo ese chantaje y ruido que producen nuestros medio y se acuerde: "Capriles me prometio mejor vivienda, educación pa mi chamo recién nacido, préstamo para microempresario (así que tengo chance de montar un negocio)... Capriles me prometio un futuro concreto"

Que los medios hablen y difundan los 8 programas que propone Capriles... Las 8 estrellas de nuestra bandera sirven de inspiración.

Esta propuesta, Capriles, es nacionalista y espiritual, por el progreso y el bien.

8 estrellas, 8 planes... Una Venezuela!

Cuenten conmigo,

David Akinin

How to live forever and other life lessons from Byron Wien

How to live forever and other life lessons from Byron Wien (Vice Chair, Blackstone Advisory)…Definitely worth reading

Market Commentary Supplement
Byron Wien

Blackstone is pleased to offer the following Market Commentary Supplement by Byron Wien.
Learn more about Byron.

Life’s Lessons
February 2013

I was scheduled to speak about the world outlook at an investment conference recently and shortly before my time slot the conference organizer said the audience was more interested in what I had learned over the course of my career than what I had to say about the market. I jotted a few notes down and later expanded and edited what I said that day. I have since been encouraged to share my thoughts with a broader audience.

Here are some of the lessons I have learned in my first 80 years. I hope to continue to practice them in the next 80.

1.
Concentrate on finding a big idea that will make an impact on the people you want to influence. The Ten Surprises, which I started doing in 1986, has been a defining product. People all over the world are aware of it and identify me with it. What they seem to like about it is that I put myself at risk by going on record with these events which I believe are probable and hold myself accountable at year-end. If you want to be successful and live a long, stimulating life, keep yourself at risk intellectually all the time.

2.
Network intensely. Luck plays a big role in life and there is no better way to increase your luck than by knowing as many people as possible. Nurture your network by sending articles, books and emails to people to show you’re thinking about them. Write op-eds and thought pieces for major publications. Organize discussion groups to bring your thoughtful friends together.

3.
When you meet someone new, treat that person as a friend. Assume he or she is a winner and will become a positive force in your life. Most people wait for others to prove their value. Give them the benefit of the doubt from the start. Occasionally you will be disappointed, but your network will broaden rapidly if you follow this path.

4.
Read all the time. Don’t just do it because you’re curious about something, read actively. Have a point of view before you start a book or article and see if what you think is confirmed or refuted by the author. If you do that, you will read faster and comprehend more.

5.
Get enough sleep. Seven hours will do until you’re sixty, eight from sixty to seventy, nine thereafter, which might include eight hours at night and a one-hour afternoon nap.

6.
Evolve. Try to think of your life in phases so you can avoid a burn-out. Do the numbers crunching in the early phase of your career. Try developing concepts later on. Stay at risk throughout the process.

7.
Travel extensively. Try to get everywhere before you wear out. Attempt to meet local interesting people where you travel and keep in contact with them throughout your life. See them when you return to a place.

8.
When meeting someone new, try to find out what formative experience occurred in their lives before they were seventeen. It is my belief that some important event in everyone’s youth has an influence on everything that occurs afterwards.

9.
On philanthropy my approach is to try to relieve pain rather than spread joy. Music, theatre and art museums have many affluent supporters, give the best parties and can add to your social luster in a community. They don’t need you. Social service, hospitals and educational institutions can make the world a better place and help the disadvantaged make their way toward the American dream.

10.
Younger people are naturally insecure and tend to overplay their accomplishments. Most people don’t become comfortable with who they are until they’re in their 40’s. By that time they can underplay their achievements and become a nicer, more likeable person. Try to get to that point as soon as you can.

11.
Take the time to give those who work for you a pat on the back when they do good work. Most people are so focused on the next challenge that they fail to thank the people who support them. It is important to do this. It motivates and inspires people and encourages them to perform at a higher level.

12.
When someone extends a kindness to you write them a handwritten note, not an e-mail. Handwritten notes make an impact and are not quickly forgotten.

13.
At the beginning of every year think of ways you can do your job better than you have ever done it before. Write them down and look at what you have set out for yourself when the year is over.

14.
Never retire. If you work forever, you can live forever. I know there is an abundance of biological evidence against this theory, but I’m going with it anyway.

Former Bolivian President, Goni, speaks about Venezuela, Chavez and Latin America

Goni, a Latin America democrat and political veteran, was scheduled to speak at YU's Latin American Business Club on March 5th, 2013 for weeks. Hours before his speech, news of Venezuelan President Hugo Chavez's (may he rest in peace) death filled media outlets. In the earlier hours of the evening, Nicolas Maduro, standing Vice-President under the Chavez regime, reported the President's passing and called the Bolivarian country to national mourning.

President Sanchez de Lozada was scheduled to speak about the cornerstone of democracy, his perspectives on the Latin American region, and prospects going forward. Notwithstanding, he re-engineered the begining of his talk to focus on the current Venezuelan situation, and what Chavez's death means to Cuba, Venezuela and the region.

I was able to record a video of most of the very eloquent and praiseworthy talk given by Goni. There's also a second part which you may find in Youtube!

More on Goni:

Familiarly known as "Goni", the University of Chicago graduate is a Bolivian politician, businessman, and former President of Bolivia. A lifelong member of the Movimiento Nacionalista Revolucionario(MNR), he is credited for using "shock therapy" to save the Bolivian economy. This measure was used by Bolivia in 1985 (when Sánchez de Lozada was Minister of Planning in the government of President Víctor Paz Estenssoro) to cut hyperinflation from an estimated 25,000% to a single digit within a period of 6 weeks. More broadly, he is credited with having engineered the restructuring of the Bolivian state and the dismantling the state-capitalist model that had prevailed in the country since the 1952 Revolution.

Sánchez de Lozada was twice elected President of Bolivia, both times on the MNR ticket. During his first term (1993–97), he initiated a series of landmark social, economic and constitutional reforms. His second term was between 2002-2003.

Currently Goni is a strong advocate of democracy, and speaks at universities and conferences nationwide giving his perspectives and sharing his experience.

Be Accountable: David Akinin at TEDxHavergalCollege

Here is the video of my recent TED talk at TEDxHavergalCollege!

Holidays!

Holiday season is upon us, pace is winding down... We get these few weeks of the year to look back at everything we've been through. We have a chance to explore the how's, why's or where's of the things that made us up in 2012, and delve deep into reflexion to explore how we feel long after the fact.

This is something that with the years, and amounting of experiences I have come to appreciate. One thing is to write a diary, but the other is to look back at your year and reflect with the confidence of the final result.

No reason why you should save this exercise for tax season, do it now and catch up on your dreams, aspirations and friends!

To a powerful 2013!!

Notes from Credit Suisse's 10 year Microfinance initiatives

Yesterday, I was honored to attend the Credit Suisse 10 year anniversary event led by Paul Tregidgo, Vice Chairman of the Global Market Solutions Group and Debt Capital Markets.

The room was filled with social entrepreneurs, bankers and traders, all with the same interests, the developing industry of Microfinance and the impact leading organizations are having with the technical and financial support of Credit Suisse.

Following are some highlights from the speakers:

Mary Ellen Iskenderian
CEO of Women World Banking, WWB
2.8 bn people with no access at all to financial services
Serve 26 mn clients, 80 percent women
Making a very clear business case to financial institutions that continuing to offer financial products that are designed for women is a profitable business.
Women tend to be more loyal clients.
thinking about products that meet women's needs is a strong focus of WWB


FINCA CEO:
Local currencies. And provision of services beyond microcredit to micro financial services.
Microfinance is interesting in that everybody is motivated, and collaborating with their clients. FINCA is doing a lot of consolidation.
FINCA came from Central America. Started with 5mm and 60k clients. Today they have 585mn.
They incorporated a bank in Ecuador and six entities taking savings. From village banking (30-60 women).

Local currency is critical
Fluctuation in FX can severely damage the process
Focusing on finding local currency instruments in each country
Local currency note Structured By CS using blending diversification of currency

Need to build capacity is a big challenge. We have been able to me risk management and institutional development from its nonprofit roots.
Developing today the FINCA developing academy in order to train staff and management capacity.


Michael Schlein, CEO of Accion: main problems I see today in the industry are over indebtedness, high interest rates, excessive profits,

Here's what we should focus on:
Consumer protection
Transparency
Social performance

Three metrics for solution

SMART CAMPAIGN global consumer protection campaign
in 2 years has more than 300,000 endorsers. Rate institutions on how they protect clients!

Transparency. If everyone prices products differently you can't see the real cost. Bolivia is very competitive and regulated.

There should be a Uniform way of measuring social performance


Vicki Escarra, CEO
Opportunity International
Running operations and marketing at Delta Airlines gives her a good edge in this industry. Strongly believes in our purpose in this world we live in!
Own 14 banks, 800 mm in aum. Find a way to use donor dollars very well!
20,000 people in the field working de the organization. Doing it well with technology-- cell phone tech can change the world we live in.
Expanding and understanding client needs by measuring impact. The only way to change jobs and people's futures is by understanding their particular necessities.

Ewallet and backend tech (cell phones, ATM banks,outreach)

Mobile penetration. 649 mm people that have cell phones.

If you want to build a boat!

"Si tu veux construire un bateau, ne rassemble pas tes hommes et femmes pour leur donner des ordres, pour expliquer chaque détail, pour leur dire où trouver chaque chose... Si tu veux construire un bateau, fais naître dans le cœur de tes hommes et femmes le désir de la mer." "If you want to build a boat, do not gather your men and women to give orders, to explain every detail, to tell them where to find everything ... If you want to build a ship, do arise in the heart of your men and women the desire of the sea "