Dr. John Psarouthakis, Exec. Editor 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, and Senior Lecturer (emeritus), MIT, ME Department.
My JP Management Center will be launching soon a Knowledge Transfer site.
Relevant knowledge is wealth: it is professional and financial success.
For details Look up my various sites, Linkedin, Facebook, and Tweet, and my Business Thinker Internet Magazine (businessthinker.com).
Looking forward to communicating with my large Internet networks of colleagues, associates, and friends.
Credibility is an intangible but essential ingredient in making a successful business deal. According to Webster’s dictionary, to be credible is to be “worthy of trust” or “believable.” In business, it refers to the belief and perception of other people that you are able to do the things you propose to do. There is no scientific way to measure credibility or to assure that others believe in you. However, there are a number of tips outlined in this chapter to help increase the likelihood that others will take you seriously in a business deal.
General Qualities that Contribute to Credibility
Display of integrity, pragmatism, interpersonal skills, professionalism and ability all contribute toward your credibility.
Integrity. Integrity refers to sincerity or honesty–that you mean what you say. A business person of integrity addresses the issues openly and directly. People feel that they can trust you and rely on your word. They do not fear that you will do something underhanded when their backs are turned.
Pragmatism This is another quality that contributes toward a credible image. A pragmatic person understands the issues and is realistic.
Interpersonal skills Interpersonal skills can also contribute to your credibility. These skills involve your ability to communicate clearly with others and to be considerate of others.
Professionalism How do you come across as professional? Be thorough in any detail you handle. Find out as much as you can about the companies and industries you plan to deal with so that you will appear knowledgeable. A person who approaches an issue with intelligence, analysis, and calmness is viewed as professional or objective in demeanor. Such demeanor generates respect and trust by others. Continue reading BUILDING CREDIBILITY FOR BUSINESS OWNERSHIP: 4th article in the series of M&A
Plato, many centuries ago, said, “Nothing endures but change itself “. What is different in our era is not the presence of change but its pace—the rapidity with which ideas arise, are developed and applied, and the immediacy and degree of their impact in our lives. Let me illustrate.
When I were a student at MIT in the 50′ s, it used to take five to ten years for an idea or research result from a University to become reality in the market and in our lives. Today it is almost simultaneous. This drastic change has fundamentally altered how we manage business and how the universities relate to the society at large and to the economic development demands more-specifically. In the long past corporate strategists could rely on the likelihood that things would not change for a relatively long time. Long term periods were identified as ten year long, while a short term plan was for a three year time. Today these expectations are tossed out of the window. There is no “static” period to plan within. Things are ever changing. We live in a time phase when strategies must be dynamic, flexible and responsive to the ever changing conditions around us.
The success of a business depends, even more so today than ever before, on a well-defined flexible, proactive strategy implemented by decisive management. Decisive management comes from well-trained persons that understand the process of management and the basic elements of competition within a free market economy. Continue reading Business Strategy, Decisive Management and Success