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Key Management Questions: Smart Questions for Every Business Situation, by Tom Lambert
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Behind every great executive decision lies a smart question. Ask yourself this. Faced with a new budget or strategic choice, a potential employee or a client negotiation, a bright idea or an intractable problem, what questions do you need to ask? To test the projections, tackle the cause of problems, to make the right decision - the answer is simple. Ask the right question. Managers are all too often expected to lead with answers; to approach any situation armed with a company procedure or an off-the-shelf solution, but in an uncertain world, the right question is worth a world of standard answers. Asking the right question is the first step to understanding a business situation, and the first step to finding the right answer. Key Management Questions is your practical guide to intelligent management analysis and inquiry. It sets out searching questions to ask of your business, your colleagues and yourself - from shaping strategies to persuading people - and tells you where to find many of the answers. With this book you can make who, what, where, how andwhy your most effective business tools. In this practical guide Tom Lambert will help you to ask smarter business questions, of yourself, your business, your colleagues and your business partners, and across a full range of business challenges. * Who are our most profitable customers? * Who are our weakest competitors? * What kind of managers do we need? * Is this choice the best use of our resources? * How long is the payback period?Discover the art of good questioning, and learn smart questions to ask about: Vision and mission People, purpose and performance Collaboration and culture Strategy and leadership Solving business problems Making business choices Finance and business performance Markets, selling and marketing Influence and persuasion Technology and e-business Change and transformation Learning and development Choosing and using consultants The answers that you find will take you closer to the real drivers of your business.
- Sales Rank: #839771 in Books
- Published on: 2003-09-10
- Original language: English
- Number of items: 1
- Dimensions: 9.00" h x 6.00" w x .75" l, 1.12 pounds
- Binding: Paperback
- 282 pages
Review
"It is better to know some of the questions than all of the answers." James Thurber "Computers are useless. They can only give you answers." Pablo Picasso --na
From the Publisher
It sets out searching questions to ask of your business, your colleagues and yourself - from shaping strategies to persuading people - and tells you where to find many of the answers. With this book you can make who, what, where, how and why your most effective business tools. In this practical guide Tom Lambert will help you to ask smarter business questions, of yourself, your business, your colleagues and your business partners, and across a full range of business challenges. Who are our most profitable customers? Who are our weakest competitors? What kind of managers do we need? Is this choice the best use of our resources? How long is the payback period? Discover the art of good questioning, and learn smart questions to ask about- Vision and mission People, purpose and performance Collaboration and culture Strategy and leadership Solving business problems Making business choices Finance and business performance Markets, selling and marketing Influence and persuasion Technology and e-business Change and transformation Learning and development Choosing and using consultants. The answers that you find will take you closer to the real drivers of your business.
From the Back Cover
Behind every great executive decision lies a smart question.
Ask yourself this. Faced with a new budget or strategic choice, a potential employee or a client negotiation, a bright idea or an intractable problem, what questions do you need to ask? To test the projections, tackle the cause of problems, to make the right decision - the answer is simple. Ask the right question.
Managers are all too often expected to lead with answers; to approach any situation armed with a company procedure or an off-the-shelf solution, but in an uncertain world, the right question is worth a world of standard answers. Asking the right question is the first step to understanding a business situation, and the first step to finding the right answer.
Key Management Questions
is your practical guide to intelligent management analysis and inquiry. It sets out searching questions to ask of your business, your colleagues and yourself - from shaping strategies to persuading people - and tells you where to find many of the answers.
With this book you can make who, what, where, how andwhy your most effective business tools.
Most helpful customer reviews
3 of 3 people found the following review helpful.
Some profound insights
By Jack Tan
Albeit the much familiar scope of management books, Tom Lambert shared some profound insights in this book.
1. Wisdom comes initially from asking the right questions of data. It is knowledge reconsidered and tested in a changing environment to instil appropriate flexibility into the strategic plan.
2. Benchmarking only succeed if the competition stands still. WE should be asking "how do we do it better and cheaper?"
3. Managers must not attempt to manage change, it is too late for that. They must strive to get ahead of change.
4. The past is not a reliable guide to the future.
5. Let people benefit from success, but ask yourself constantly whether concrete rewards are either necessary or desirable.
6. Successful organisations change only when the change is dictated by the changing desire of their customers.
7. Although there may be "two sides to every question" only the least practical person seeks three and there is usually one right answer for you right now. The answer may not be right some time in the future.
8. Top thinkers always ask if the agreement is consensus or merely "groupthink".
9. Nothing should be done in business unless it makes a significant impact on achieving goals.
10. Always ask if you could explain your change effectively to a four-year-old child.
I have lifted some interesting insight directly from the books. Please read the book for a more thorough understanding and enlightenment.
In Chapter 7: Knowing the number; Questions of finance and performance
7.1 Profit is not a proper objective of a business. It is an essential pre-requite for being in business. - Peter Drucker
7.2 Can we sell and make rather than make and sell?
7.3 Are those customers who demand the highest level of our service worth the cost of serving them?
7.4 How do we offload such customers without damaging our reputation?
7.5 When the going gets tough the manager ought to approach the hated budget before agreeing to any cuts. Are the objectives worthwhile and realistic when they were set. So assuming that they are still worthwhile, how much more would it cost to achieve them today? Are they still worthwhile? It really is very difficult to save your way into a profit unless you are simultaneously looking for profitable growth.
7.6 The advantages of budgets are key actions are frequently highlighted, and responsibilities and yardsticks are clarified.
Chapter 11: Making change pay: Questions of transformation
11.1 You cannot manage change. You have to initiate it. - Peter Drucker.
11.2 If we simply appear to encourage the expression of grievances and concerns, we give an impression that we are offering to resolve them, What we need to do instead is to have people tell us: "if we make this work, what do you think would be in it for you?"
11.3 Are we giving changes enough time to deliver results before we introduce something new on top of untried novelty?"
11.4 Can I stimulate a positive attitude to change by discussing new ideas and issues with my team?
11.5 What do you see as the key issues facing the business?
- What do you see as our key opportunities?
11.6 What keeps you awake at night?
11.7 Corporate danger sign include: - dependence on few customers, out-of-date methods, etc.
11.8 Never consider bringing in a major change unless :
- it make a significant difference to the ability of the business to achieve its goals.
- it will be delivered on time and pay for itself?
- the people will approach the change with enthusiasm.
11.9 In business we only ask for what will make a real difference.
Chapter 12: Stop wasting the training budget!: Questions of profitable learning.
12.1 What percentage of training objectives are measured and achieved?
12.2 If delegates were offered additional holiday rather than training, which would they choose?
12.3 Do all learning objectives clearly state what people are expected to learn and how they will apply it?
12.4 Do we accept that there may be a short-term fall-off in performance while new knowledge and skills are integrated?
12.5 Is training and development a strategic activity specially designed to meet business objectives rather than a mini-business school that teaches the well-worn subjects because they have always have?
12.6 How specifically will we ensure that everyone focuses on what is important right now in terms of achieving the strategy?
12.7 Have our people learned the value of focusing on developing our strengths rather than mitigating our weaknesses?
12.8 Should we, as an absolute minimum, test how much is learned on all training courses, how much is used at the workplace and how much that which is used contributes to achieving a strategic or tactical goal?
12.9 Objectives stressed what the delegates "will do" NOT "will be able to do" on completion of the training. Often, trainers establish so-called objectives that state what a trainee will "be able to do" after training rather than take any responsibility for ensuring that what should be done is done.
12.10 Requiring that responsibility for both learning and ensuring application were firmly placed on the shoulder of the trainer, not the learner.
12.11 Are we ready to implement a practical policy of "Life-long Learning - Just in Time" so that our people learn what they need when the organisation needs it, apply it immediately after learning, share it with their colleagues and preserve until new learning is easier to apply than the old way of doing things?
12.12 The "freezing" by successful group that leads to the re-use of a tried and tested, but no longer relevant formula will become increasingly dangerous to business.
12.13 The need for training and development is growing, but the need is not for "education for its own sake" or even for "life-long learning". It is for life-long learning delivered, applied, measured and proved - "just in time".
Chapter 13: When others have the answers: Questions of choosing and using consultants
13.1 Consultants don't just borrow your watch to tell you the time. They steal it to sell to the next client who also doesn't need to know what time it is either. - Howard Shenson.
13.2 Do you know precisely what we want to achieve?
13.3 Have we worked out the cash flow implications of the simple fact that we pay fees now to enjoy benefits later?
13.4 Before hiring a consultant, you might want to ask him:
- What have you learned about our important customers?
- What do you think of the places where we sell our products?
- Who would you consider to be the experts in our industry?
13.5 The use of outside help must make a significant difference to achieving worthwhile goals.
13.4 The intervention must pay for itself within a reasonable time.
13.5 It must engage the co-operation and promote the growth of your people who will make it work.
13.6 The consultants must leave as soon as the job is done - and they must leave you with the tools to continue as far as you with or need to go.
Readers might be confused by the 3 stars instead of 5 stars given the high praises that I have for the book. Well, I find that although the books is filled with questions to guide the reader, except for those insights I shared here, many of these questions were superficial or lack depth.
3 of 3 people found the following review helpful.
Business questions that make you think and promote dialogue
By Peter Leerskov
"Any fool can offer you answers. It takes genius to ask the right questions." Albert Einstein.
I like this book a lot ... a book with questions that make you think and rethink.
I like playing the devil's advocate ... this book gives great inspiration for being it.
This book is an obvious choice for consultants. For it is just as obvious for many business people. Why ask the consultant, if you can get the questions for a book's price? But also remember how many times you participate in a decision-making process and/or meetings where you would like to make a great contribution ... read this book and you will get a lot of inspiration for contributing.
I have very many business books, but this paperback I often take with me for the travel before an important meeting. Either because I want to see if there are questions that I have forgotten to write down or - if I am the presenter - to understand what questions my audience or superiors could or should ask me!
Remember that you often may need fresh ideas and questions when you go to the fifth board meeting of a particular business or perhaps the fifth board meeting in the same week!
The problem may be that the participants all are somewhat into the same mindset. This book will always provide you with some very important business questions that should enable the meeting to take a new and interesting angle.
I never managed to read this book from cover to cover. To me, it is more a reference book with a lot of skilled questions that will make me think about a particular issue.
The author Tom Lambert covers most business areas: vision and mission, people, leadership, decisions, numbers, markets, change, etc.
I personally also like using the great strategic questions suggested in EXECUTION by Ram Charan & Larry Bossidy as well as in WINNING by Jack Welch. Both are great books by business people that I really recommend. Both are available in audio editions as well.
Peter Leerskov,
MSc in International Business (Marketing & Management) and Graduate Diploma in E-business
3 of 3 people found the following review helpful.
Great Business Handbook
By Colin Ong TS
Tom Lambert has been nicknamed "The Consultant's Consultant". However, with this book, I strongly feel that Tom has further established himself as "Every Business' Catalyst". He has come out with a very practical book that is memorable for its detail and accessibilty. The book's content has a refreshing Question format which makes it a suitable workbook. Tom also value-adds with his thought-provoking anecdotes and his considerable consulting experience.
My favourite Bits:
1) Life-plan - (pg 27-34)
2) Chap. 4 Questions of Biz leadership
3) Ebusiness Corporate Analysis pg 165
4) Chap. 13 Choosing and Using Consultants
This book is a must-read for anyone who is interested in business issues, especially those who are establishing themselves as independent consultants. It instructs about asking the right questions and also serves as a good guide for emerging start-ups.
Colin Ong TS
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