01.
Economic Review & Forecast
02.
03.
04.
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01.
Economic Review & Forecast
Tom Caldwell, Chairman, Caldwell Securities Ltd.
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Good News! In the last three weeks there have been three items of good news indicating economic recovery. Firstly, fourth quarter U.S. GNP was revised upwards to 1.4% from 0.2%. A revision into negative territory was expected. Secondly, the Institute for Supply Management ("ISM") (formerly NAPM) reported its index at 54% against an expected level of less than 50%. It is generally accepted that a reading of less than 50% indicates economic contraction and a reading above 50% in this index indicates an expanding economy.

Thirdly, the unemployment rate declined in February and there was an increase in jobs. Employment in the manufacturing sector declined, but at a much slower rate than expected and at a slower pace than had occurred last year.

The critical ingredient, at the present time, for the stock market is that of credibility. Confidence has returned in the economy, but investors are still suspicious of corporate accounting practices and simply don't trust the numbers. Past accounting abuses may result in further write downs and earnings impairment until all the bad news is out. This may take another quarter or two. Individual stock prices will continue to be vulnerable to this influence.

Tom Caldwell, Chairman, Caldwell Securities Ltd. - (416) 862-7755

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02. Management Minute
Cy Charney, President, Charney & Associates Inc.
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Problem Solving

Organizations grapple with the same problems year after year, wasting incredible amounts of time and money. The reason for their failure to resolve problems is the lack of a process. You can resolve problems quickly and effectively. Here's how:

  1. Prioritize problems. Deal with key issues first. The 19th century Italian economist Alfredo Pareto taught us to differentiate between the critical few and the trivial many (later known as the 80/20 rule).
  2. Focus on problems over which you have control. Problems can be classified into those over which you have full control, some control, and no control.
  3. Clean up your own backyard first. Don't look for problems in other areas until you are perfect! Your own problems usually can be fixed the quickest. Then go on to problems that require the cooperation of your boss or the next department. Do not get frustrated about problems over which you have no control…bring them to the attention of management and get back to solving your own issues.
  4. Follow a step-by-step approach. Problem-solving is most effective when it follows a sequence of steps. Without such an approach, people often start with solutions. Don't jump to conclusions or try to solve problems before defining them or finding their real causes. This wastes time and money, since the solution might not remove the root cause. (1) Define the problem - State the opportunity succinctly. (2) Find the Cause - Investigate all possibilities. Narrow down to most likely. (3) Find Solutions - Be creative. Look for alternatives. Pick the best. (4) Plan Implementation - List actions, dates, and who will assume responsibilities. (5) Implement - Carry out actions according to plan. (6) Monitor - Measure progress.
  5. Rely on data whenever possible. Facts are always more compelling than opinions. Unless the problem is small or insignificant, collect statistics to provide answers to the five W's and an H: Who is causing the problem? What is causing the problem? When does it happen? Where does it occur? Why does it happen? How does it happen?
  6. Break the problem down so you can deal with one aspect at a time. Problems having to do with quality, communications, and productivity can be enormous and may defy solution. To reduce their impact, deal with problems in the same way that you would eat an elephant: one bite at a time!
  7. Use a team approach where necessary. Remember, many hands make light work. The greater the involvement and contribution of others, the more the commitment to implementing the solution.
  8. Involve people who are part of the process. Every organization is staffed with people anxious and willing to solve problems, and they bring a variety of talents to team problem-solving. Use them. Don't try to do everything yourself; you'll become a dumping ground for problems. Some people are o Good at detail work and can collect data accurately o Creative and can find ingenious new ways of doing things o Good at group process and able to develop team spirit and resolve conflict.
  9. Don't be bound by an old paradigm. There is a lot of conventional wisdom about how things should be done. Sweep it away! Look for new and innovative solutions. Brainstorm. Get lots of ideas, even wacky ones. Build on some, combine others. Then decide on the best. The more unconventional the idea, the more you might be inclined to pilot it. After a successful test, implement it across the board.
  10. Get a fresh perspective on old problems. Get the opinion of new employees. Since these associates are not stuck in existing paradigms, they probably have new ideas for solving old problems.

Cy Charney, President of Charney & Associates Inc. (905-886-5606, www.askcharney.com ), is a leading Canadian management consultant focusing on organizational performance improvement. The above is an excerpt from his book, The Portable Mentor, published by Stoddart.

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03. Feature Article
  Make Your Point Powerfully
by Steve Bareham
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Verbal proficiency and power are orchestrated skills. Practice, practice, practice combined with specific tools will produce captivating presentations that fellow employees will beg to attend.

In business meetings or during verbal presentations, people often struggle to make their points or fall far short of conveying their true message. Even people with good brains and good ideas sometimes fail to knit everything together in ways that compel others to not only listen but to also support their positions. Such failure can be a serious matter. In fact, it can be a career killer.

Conversely, some people are extremely good verbal communicators who seem to quickly bring listeners onto their wavelength. Often, these people enjoy the most success and climb promotional ladders the fastest. So what's going on, is it something in their genes?

Fortunately, good presentation skills are learned not genetic, and each of us, if we take the time, can learn to use a system that can supercharge our ability to make points. Even people who are adept at putting solid arguments together in an impromptu fashion can further improve if they sharpen all the equipment in their "how to make a point" toolkit.

The following 20-piece toolkit includes 10 items that are conceptual in nature (planning) and 10 items that are specific tools proven to dramatize points for maximum impact. Make no mistake, it is neither quick nor easy to approach business encounters with such a comprehensive system, but if your career is important, the discipline of being systematic can pay enormous dividends.

10 Planning Tools

  1. Your topic must be relevant and rank high on the benefits, interest, and impact quotient (BIIQ). If your listeners don't see a potential benefit, if they aren't interested in what you're saying, or if they fail to see how your topic can impact them, they have no reason to pay attention.
  2. A clear goal: Exactly what do you want to achieve? If you don't know where you want to go, it's unlikely anyone will follow you there.
  3. Use a proven three-part structure when planning your presentation: State your premise clearly, provide convincing supporting evidence, and end with a powerful and concise conclusion.
  4. Logical categorization and sequencing: When confronted with new information, the human mind immediately seeks familiar patterns. By arranging your points in logical categories and sequences, you greatly improve the chance that people will follow you from beginning to end.
  5. Pre-educate yourself and others: The reason many meetings fail is because few participants have done their research on the agenda. In the absence of relevant readings and research material and the advance thought and preparation that they encourage, is it any wonder most business meetings achieve little?
  6. Show that you've done your research: Everyone respects those who come prepared and who have a complete grasp of issues.
  7. Will your novel angle grip people's imaginations? Average linear thinking is, well, average. With thought and creativity, it is possible to put a unique spin even on the familiar-such lateral thinking is admired, and it's also more interesting.
  8. Anticipate the probable responses of other participants to your points: Might someone get emotional in a negative sense? What questions are people likely to ask? Will some oppose your position? Think proactively and be prepared.
  9. Timing: Is this the teachable moment? Even though you're ready to reveal ideas for something new, are other participants in an equally receptive frame of mind?
  10. Be clear about the actions that you are proposing and also about a timetable for planning and implementation.

10 Presentation Tools

  1. Use the anticipation of gain, one of the most powerful attention grabbers and motivators known to our species: Study your material thoroughly and never miss an opportunity to impress upon listeners exactly how they stand to gain.
  2. Fear of loss: If the anticipation of gain is important, the fear of loss (money, status, etc.) is a close second in terms of ensuring a rapt audience. Of course, it doesn't pay to highlight potential loss unless you integrate the next tool on the list.
  3. Research what experts have written or said: It is nice to think that everyone views us as experts, but demonstrating that respected "gurus" agree with you can greatly enhance the power of your positions.
  4. Quotations from well-known personas: People love clever quotations, and they help focus people precisely where you want them to focus. Supportive quotations are easy to find through books or via Internet research.
  5. Statistics: The business world revolves around numbers, and staff responsible for finance functions can either aid or inhibit most decisions regarding change or new directions. Whenever possible, ensure that your points are backed by irrefutable statistics.
  6. Problem and solution: a powerful presentation strategy for riveting attention. Every organization has problems; someone with convincing solutions is guaranteed an attentive audience.
  7. Contrast and compare: another effective tool for holding people's interest, especially when the contrasts and comparisons are dramatic. For example, "Our competitor grew revenues last year at a rate of 100%, while ours increased by only 50%; let's look at their marketing approach and compare it to ours."
  8. Anecdotes or metaphors: People identify readily with stories that help them put information into context, stories that clearly show how a theoretical concept worked in the real world. Metaphors are also a powerful means of helping people see logical connections.
  9. Integrate dramatic visuals: The majority of meetings depend largely on auditory stimuli (talking) to get points across; yet most people absorb information better with a visual component and even better still if there is a kinesthetic segment where they actually get to work toward an action plan. With the widespread availability of easy-to-use presentation tools, such as PowerPoint, almost every presenter can boost impact by giving meeting participants visuals.
  10. Use dramatic vocals: Even good information presented in a boring monotone can put listeners asleep. If you don't understand how to employ dramatic vocals (tempo, pitch, volume) consider a professional development program in public speaking to shore up your skills arsenal.

Steve Bareham is a management instructor at Selkirk College, Nelson, B.C., and the author of a new book: The Business of Thinking, Helping Employees to Think Better: A "Win-Win-Win" for People, Productivity & Profits. Published by Comprehensive Communications Inc., and Selkirk College, Nelson, B.C. Steve Bareham can be reached at compcomm@shaw.ca.

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04. Legal Corner
  Monitoring an Employees Personal Email
- How Far Can You Go?
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by Doug MacLeod, Lawyer


More and more employees have access to e-mail and the Internet at work. As a result, employees are increasingly sending (and receiving) personal e-mail, and surfing the Internet for information that is not related to their jobs. For example, according to one study, 1 in 5 men and 1 in 8 women admitted using their work computers to access sexually explicit material online.

This kind of use of e-mail and the Internet is problematic for several reasons: it reduces employee productivity; it can delay internet connections for others with legitimate business use; it can result in infected files being downloaded, which can breach the employer's computer network; it can compromise confidential information if an employee is engaged in outside interests that conflict with their employment; it can tarnish the employer's reputation and good will; and it can result in legal liability (i.e. sexual or racial harassment).

Because of these problems, employers are increasingly considering computer monitoring.

There have been very few (if any) Canadian court cases decided on the issue of whether the monitoring of an employee's personal e-mail is legally permissible.

Canada's Criminal Code has a provision which is designed to protect private communications. The question to be decided is whether the communication is private. A communication is considered private if the parties to the communication have a reasonable expectation of privacy.

In the absence of an employer policy or any discussion between the employer and employee on this issue, reasonable people can disagree on whether private e-mail sent from the workplace has a reasonable expectation of privacy.

To avoid any misunderstanding on this issue, an employer can implement an E-Mail and Internet Policy. At a minimum, this policy should contain the following elements: the purposes for which the company's e-mail and internet may be used, a statement that e-mail and internet files will be monitored, and a clear statement that a breach of the policy will result in discipline up to and including termination. The employer should obtain a signed acknowledgement from each employee which states that the employee has read, understands and agrees to the policy.

Alternatively, an employer can include a term in an offer letter to every new hire, which provides that the employee consents to the monitoring of his/her e-mail and Internet files as a condition of employment.

Doug MacLeod, Barrister & Solicitor. Doug advises employers on the intricacies of Ontario's employment laws. He can be reached at doug@dougmacleod.com (416) 977-9894 or (416) 977-7337 (fax).

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