What’s Your Purpose? Interview with Mickey A. Feher at the Hungarian Business Weekly Figyelo

What is your Purpose? Mickey A. FEHER, ❘ Advantage Group’s managing partner has established a subsidiary in New York and is now engaged by one of the largest American corporations as a management trainer. He believes that people with purpose in life perform better than those who only work to make a living. Interviewer: You were at the helm of a successful CEE based corporate group. Why did you decide to change and move to New York? M. A. F.: I had often wondered what was the meaning and the most exciting mission of my life and at one point I realized that I wanted to make a greater impact on the business community and I wanted to do that in business centres where the most important decisions are made. In the meantime, I met with some mentors who were ready to share what they knew without any kind of jealousy. I had the chance to work with Robert Dilts, one of the advocates of NLP (Neuro-Linguistic Programming) who was one of my mentors. He used to be Steve Jobs’ personal coach but he is much more modest than most of the waiters I have met in my life. I.: How did the recognition turn into reality? M. A. F.: I have frequently observed in my self-awareness work that perceived limits and borderlines are always within me and not in the outside world. My mother often cautioned me not to hold too many irons in the fire but it was obviously in vain. So I established our subsidiary in New York. Luckily, we managed to build our business very quickly...

Profit or Purpose, can we have Both? – the world after Milton Friedman

This is how Milton Friedman started his article in The New York Times Magazine, on September 13, 1970. “When I hear businessmen speak eloquently about the “social responsibilities of business in a free-enterprise system,” … The businessmen believe that they are defending free en­terprise when they declaim that business is not concerned “merely” with profit but also with promoting desirable “social” ends; that business has a “social conscience” and takes seriously its responsibilities for providing em­ployment, eliminating discrimination, avoid­ing pollution and whatever else may be the catchwords of the contemporary crop of re­formers. … Busi­nessmen who talk this way are unwitting pup­pets of the intellectual forces that have been undermining the basis of a free society these past decades.” These thoughts have been shaping corporate America and the rest of the world and have been an influential force in how management education is approached around the world. We all know, where did this kind of thinking got us. The assumption that companies can exist in a vacuum and their actions do not effect the rest of the system we live in, is just wrong. The idea that the leaders and managers should look after the profits only and someone else will take care of the social responsibilities is naïve, to say the least. The financial crisis was a moment of possible wake-up but it was quickly subdued and corporations went back to their original practices as the the business sector (and the governments) visibly failed to take any strong (legislative) actions to prevent another crisis from arising. Once, I was working with the top management team of a multinational company and we were discussing...

What is your motivation: Purpose or just Profit?

  MIKLOS A. FEHER, ❘ Advantage Group’s managing partner has established a subsidiary in New York and is now engaged by one of the largest American corporations as a management trainer. He believes that people with purpose in life perform better than those who only work to make a living and boost their ego.   Interviewer: You were at the helm of a successful CEE based corporate group. Why did you decide to change and move to New York? M. A. F.: I had often wondered what was the meaning and the most exciting mission of my life and at one point I realized that I wanted to make a greater impact on the business community and I wanted to do that in business centres where the most important decisions are made. In the meantime, I met with some mentors who were ready to share what they knew without any kind of jealousy. I have been working with Robert Dilts, one of the original developers of NLP (Neuro-Linguistic Programming) who is also my mentor. He used to be Apple’s personal coach but he is much more modest than most of the waiters I have met in my life. I.: How did the recognition turn into reality? M. A. F.: I have frequently observed in my self-awareness work that perceived limits are often within me and not in the outside world. My mother often cautioned me not to hold too many irons in the fire but it was obviously in vain. So I established our subsidiary in New York. Luckily, we managed to build our business very quickly without any...

Who cares about Purpose in a business?

The Idea in Short: 71 percent of American workers are not engaged or actively disengaged from their job, worldwide 13% of workers are engaged shows a Gallup survey published in 2013. Research proves happiness raises sales by 37 percent, productivity by 31 percent and accuracy on tasks by 19 percent. Yet businesses often ignore all of that. Science proved that behind Happiness there is a state, called Flow. Flow is demarcated by simple things like, clear goals; direct and immediate feedback; balance between ability level and challenge; a sense of personal control over the situation and an intrinsically rewarding activity. I propose to connect the dots and run your business with giving ample attention to the above success factors. I also suggest that to make something intrinsically rewarding you need a Purpose. Companies with a Purpose do extremely well and foster a culture of passion, sense of community and happiness. As a Leader You need to start finding a Purpose in your life and build/find a business that is in alignment with your own Purpose, if you want to live your life to its full potential. Consider the following: 71 percent of American workers are not engaged or actively disengaged from their job, worldwide 13 % of workers are engaged show a Gallup survey published in 2013. On the other hand we also know that research proves happiness raises sales by 37 percent, productivity by 31 percent and accuracy on tasks by 19 percent based on Shawn Achor’s research widely publicized on CNN, TED, HBR. I have recently worked with an extremely successful wholesale business. It is a medium...

Sales? Rethinking what’s the way forward in 2015!

Is there a super sales personality that we need to look for when recruiting for a top class sales team? We often say that a lot of companies are just trying to teach ducks to be eagles and that doesn’t work. Although this sounds catchy and may hit home with many sales directors, it may not be the whole truth, or the truth at all, for that matter. Based on a longitudinal research by the Sales Executive Council the more complex the environment you are in and the more complex the service is you are selling, the more important the set of habits and attitude the sales person is building on his or her sales style. We cannot deny the importance of attitude and values, which will deeply influence which of the learned sales skills the sales person, will actually apply in a real life situation. We can pretty much conclude that whatever behavior we will observe from the sales person will be a function of the identity the sales person consciously or unconsciously built up (who am I as a sales person) and the key values around it, which will heavily influence both the way he processes/perceives the real life situations and his or her will to apply certain learned skills. The levels of identity, values, skills and perception and decision-making patterns will equal to what most people call personality. When selecting the right sales person for the job, we do have to go beyond character and personality. There are so called extraverts who cannot sell because unconsciously they believe that they are just imposing something on the...

Footnotes for Paris… Have You Got the Fifth Element?

I have finished this article on January 7, in a sad coincidence with the dreadful terror attack in Paris. I have always wondered what makes us really different from animals and this question is more than relevant after what happened. What follows here is not directly about this attack but you will see how deeply related it is from both sides of the coin. For we all live in stress and all of us have experienced at least once in his or her life how does it feel to be a minority for any reason. You may just be minority for an hour when you meet new people or start a new job, but you may be Muslim, or Jewish or Christian for that matter, which may put you in a position of Minority and Otherness for whatever amount of time. Coming back to the difference between humans and animals perhaps the real difference is in the choices we have. As Janos Selye the famous ethologist put it, you only have 3 choices when you are in stress. Fight, flight or seek protection. The fourth is to get sick or die. It is about the seeking proctection part though, where it really gets interesting. The rest of it (fight and flight and gettins sick) is easy, straightforward reptilian reaction. It is a reaction you saw in Paris with a magnifying glass and in crazy and brutal way, but if we want to really deeply look into ourselves we cannot escape facing that we all have brutality and aggression somewhere in our nature. Our parents used to kill for survival...

Of the man and woman inside us

Leadership style dilemmas for women and men An interesting 2010 research from Hudson found that non c-level women in business pay more attention to people related issues and quality performance, while men seem to attach more importance to an effective control of emotions and an extroverted attitude towards the environment. At the same time, male leaders show an even more extreme male personality. They describe themselves a leaders with a great deal of impact and strong personal opinions who are focused on achieving long term objectives. They consider themselves less caring and people oriented. However, women at the top appear to have a male leadership profile with feminin nuances. C-level women tend to score lower on altruism and people centeredness compared to average women. Why should you care? Because research shows a very strong connection between employee engagement and profit. Recently, a Towers Watson study showed that companies with low engagement scores had an average operating margin just under 10 percent. Those with high traditional engagement had a slightly higher margin of 14 percent. Companies with the highest “sustainable engagement” scores had an average one-year operating margin of 27 percent.  At the same time among sustainably engaged employees, 74 percent in the study believed that senior leaders had a sincere interest in their well-being. Only 44 percent of traditionally engaged employees felt the same way, while only 18 percent of disengaged employees felt their managers genuinely cared about their well-being. This proves that no single behaviour influences more the quality of people’s energy than feeling valued and appreciated by their supervisor.  “The manager is at the heart of what...

Are you Guilty of Corporate Anorexia?

Many corporations I worked with recently seemed to have fallen victim to corporate anorexia. Corporate Anorexia is cutting resources back to the bone with the noble aim of increasing efficiency of the organization. The result unfortunately seems to be lower internal and external customer satisfaction, missed opportunities due to lack of appropriate resources and higher attrition combined with lower job satisfaction.  This is because most companies have responded with ever green solution recipe to the crisis: cut costs and kill all redundancies in the organization. However, every research into successful business and leadership practices seems to indicate that the new key ingredient which makes a company successful is a combination of mental and organizational agility. If you want to anticipate weak signals early in order to identify opportunities you will need a flexibility of resources and a more project based flexible organization that will be able seize those opportunities. It is Time to Refocus Leadership and Management on Promoting Change and Values and Achieving Great Results via Anticipating New...

CEOs and CSOs! Is delivering higher performance about stress and burnout or is it about increasing engagement?

“Today’s market pressures make it more important than ever to have the right workforce in place to drive positive results across an enterprise– from sales and customer service, to production and executive management,” said Robert Morgan, SHL President and CEB General Manager. “In fact, global executives believe the key to delivering profitable growth is a 20 percent increase in staff productivity. More than 100 studies have affirmed the connection between employee engagement and performance, but the Towers Watson 2012 Global Workforce Study — 32,000 employees across 30 countries — makes the most powerful, bottom line case yet for the connection between how we feel at work and how we perform In a broader analysis of 50 global companies, Towers Watson found that companies with low engagement scores had an average operating margin just under 10 percent. Those with high traditional engagement had a slightly higher margin of 14 percent. Companies with the highest “sustainable engagement” scores had an average one-year operating margin of 27 percent.  Among sustainably engaged employees a staggering 74 percent in the study believed senior leaders had a sincere interest in their well-being. Only 44 percent of traditionally engaged employees felt the same way, while only a miniscule 18 percent of disengaged employees felt their managers genuinely cared about their well-being. No single behavior reliably influences the quality of people’s energy than feeling valued and appreciated by their supervisor. I let you connect the...

Brave Women and Coward Men?

Leadership style dilemmas for women and men An interesting 2010 research from Hudson found that non c-level women in business pay more attention to people related issues and quality performance, while men seem to attach more importance to an effective control of emotions and an extroverted attitude towards the environment. At the same time, male leaders show an even more extreme male personality. They describe themselves a leaders with a great deal of impact and strong personal opinions who are focused on achieving long term objectives. They consider themselves less caring and people oriented. However, women at the top appear to have a male leadership profile with feminin nuances. C-level women tend to score lower on altruism and people centeredness compared to average women. Why should you care? Because research shows a very strong connection between employee engagement and profit. Recently, a Towers Watson study showed that companies with low engagement scores had an average operating margin just under 10 percent. Those with high traditional engagement had a slightly higher margin of 14 percent. Companies with the highest “sustainable engagement” scores had an average one-year operating margin of 27 percent.  At the same time among sustainably engaged employees, 74 percent in the study believed that senior leaders had a sincere interest in their well-being. Only 44 percent of traditionally engaged employees felt the same way, while only 18 percent of disengaged employees felt their managers genuinely cared about their well-being. This proves that no single behaviour influences more the quality of people’s energy than feeling valued and appreciated by their supervisor.  “The manager is at the heart of what...
css.php