Category Archives: How To… articles

A variety of articles describing processes on “How To Do” and accomplish somethuing of value.

Education isn’t everything, but it’s close

Dr. John Psarouthakis, Executive Editor of www.BusinessThinker.com, Founder and former CEO, JP Industries, Inc., a Fortune 500 industrial corporation, Adjunct Professor(ret.), Ross School of Business, University of Michigan.

Review and evaluate schools  from MIT to the local community college in asserting the importance of learning—from the most advanced science lab to technical training that might make an “obsolete” factory to an  employ getting a job again. Use, in detail, the JPI retraining scheme as a microcosmic example of the path we need to think in at all levels during a time of sweeping workplace transition. This summary is lame compared to the relevant chapter in the reference below.

Reference:
“The Technology Imperative: What Jobs! Jobs! Jobs! Really Means in the 21st Century”, John Psarouthakis, Gavdos Press, October 2012.
Contact via email:   drjohnps@hotmail.com



To Solve a Problem, First Define It

drjohn11a

Dr. John Psarouthakis, Executive Editor of www.BusinessThinker.com, and Founder and former CEO, JP Industries, Inc., a Fortune 500 industrial corporation

 

       This simple concept might be the most important thing I learned while earning an MIT engineering degree. Engineers understand this concept in depth, but policymakers and politicians have a lot of trouble comprehending it. In my lifetime America has burned billions—trillions—of dollars in treasure by leaping to solve problems without first doing a proper job of nailing down exactly what the problem is and then doing a proper job of constructing a solution. The “then” part of the equation is important, too. Government has a decent history with engineering projects. It has a dismal history with social engineering projects. Not paying attention to that history portends, of course, constructing still more dismal history.

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Actions Immediately after Closing the Acquisition Deal

drjohn11aBy Dr. John Psarouthakis, Executive Editor of www.BusinessThinker.com,  Founder and former CEO, JP Industries, Inc., a Fortune 500 industrial corporation

This is the 16th and last of a Series of  short articles on “HOW TO BUY THE RIGHT COMPANY”  that have been posted herein.

Once you close the deal, you need to be prepared to go in the very next morning to meet with your management team as well as your entire staff.

What you do in the first days and weeks will set the tone for your relationship with your employees for some time to come, possibly even the duration of your ownership.

Remember that the chief concerns of your employees and managers may be somewhat different than your own agenda. Employees will be concerned, first and foremost about their own job security and future with the company now that it is under new ownership.

Management shares this concern, and may also have more narrow issues facing them in their own departments, that nevertheless they may feel requires immediate attention.

An easy model to follow includes a short initial introductory meeting with management, an all-employee meeting to include all management and non-management staff, and then a third more formal meeting with management.

These meetings will set in motion the planning to carry out the three objectives of the transition: addressing your key constituencies (employees, customers, suppliers and bankers), revision of the action plan, and implementation of significant changes outlined in the plan.

Other meetings will follow in the first days and weeks, but it is essential to try to fit these first three meetings into the first day if at all possible.

As a new owner, you must be careful to listen carefully, building trust and goodwill with your new employees.

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