2020 has been nothing but challenging for everyone in one way or another. Some people experienced greater difficulties than others. Nevertheless, everyone’s life, career, family, ambitions, dreams, and expectations from this year were affected. And as if matters were not bad enough, the world witnessed and was torn apart by numerous natural and man-made calamities: floods, wildfires, earthquakes, hurricanes, civil unrest, humanitarian and refugee crises.
Now I do not want to sound all negative. There is another side to the coin too, a side that we very often fail to recognise and acknowledge. It’s the positives, no matter how small, that happened in our lives amidst this mayhem. We should acknowledge every little moment of happiness, joy, and success we received in the past one year and be grateful for it. Someone might have a new job (even in the pandemic), got a raise, bought a new house, started a family, explored local places (as it is advisable not to travel), got healthier and fitter, had time to be with family during quarantine, enrolled for that online master’s programme that was put on the back-burner, something that positively impacted one’s life.
Let’s reflect and be thankful for everything!
For me personally, the holiday season brings a sense of joy and happiness. I forget my worries and enjoy the holiday cheer and bright lights that are all around. It humbles me in many ways.
Expressing gratitude may sound easier than it actually is, because humans are prone to complaining, blaming, finding fault, and making comparisons with others. However, I would urge you to take a moment and instead understand your own shortcomings and if you do compare, compare yourself with the less fortunate. You might come to realise how blessed you actually are!
There are many ways to feel thankful and express gratitude:
1. Introspect: self-introspection can be very powerful to analyse one’s true self.
2. Have faith: it pays off to be patient and trust that everything happening is part of the bigger picture and it will help in developing you in better ways.
Give back to society
3. Give back to society: you can make your contribution and give back to society in various ways by volunteering, providing food, shelter, clothing to the needy, providing financial or emotional support. It will make you feel better and useful.
4. Maintain a gratitude journal: as it is said, a man is but the product of his thoughts. The more you write about positive happenings and events in your life, more your thoughts become positive.
Your thoughts become positive when you capture positive happenings in your life
5. Express yourself: It’s important not only to feel grateful but also to express your gratitude and spread the cheer to your near and dear ones.
Gratitude plays a very powerful role in transforming lives. Express your gratitude towards your family, peers, friends, colleagues, bosses, teachers and professors. I am grateful to all our readers who have enjoyed reading and have benefited from our blogs.
Continuing with our blog series bringing you answers to some of the questions we at Robert Kennedy College (RKC) get asked frequently by students who are looking to join one of our online programmes, we asked some of our past and current students to share their thoughts and opinions, to give their feedback on how they handled the challenges of online learning. Hopefully, this will help you make an informed decision.
Let us learn from those who came before and see if what worked for them will also help you become a better student!
Dina is from Jordan and has completed our online MBA programme, this is what she had to say about what worked for her.
An Introduction
Who are you, really?
I am Dina, from Jordan
Which Uni are you studying with?
University of Cumbria, U.K.
Which programme did you choose and why?
MBA in Leadership and Sustainability
The Study Plan
How did you plan to study each module, and what was the reality? How many hours did/do you have to put in each day/or in a week?
I took one module at a time, and I dedicated one day a week for studying – usually during the weekend, and that’s like 7-8 hours a week, and of course, I did more work for the assignments.
What part of the day did/do you find most suitable to study? (e.g. early mornings, lunch break, evenings, weekends?)
Weekends the entire day and sometimes early mornings before going to work.
How much time did you devote to each assignment?
I used to check the assignment at the beginning of each module and take notes as I go through the week. I usually started working on the assignments pretty early so that I had a few weeks before the deadline to plan and manage my time.
Travelling and Communication
How did travelling impact your ability to study?
Travelling was not required for my work.
How were you able to interact with peers and/or professors given the time differences?
The forums really helped and made the communication process easier.
A typical day as a master’s student
What does a typical day as an Online Masters’ student look like for you?
I wake up, check my email, check the forum, go to work and read an article or study a bit before bed. But the majority of the studying was usually done on the weekends.
Any advice?
Any advice you have for students to better plan their studies.
I was sceptical at first, and I thought that I might lose interest in studying, but each module was different. All you need is a little time management and commitment.
I hope this blog has answered some of your questions, and please watch this space for similar blogs in the future.
You can now chat LIVE on WhatsApp with one of our Education Advisors for more information on all the programmes we offer, the application process, and for information on discounts we might be offering at this time.
Leadership is a subjective term. We see and hear about effective leaders leading a department, a company or a country. But it is difficult to really quantify or describe what leadership is. You can recognize good leadership examples when you see them but it’s difficult to define. Some leaders are ‘born leaders’, they are a natural, and excel at what they do, while others learn to become good leaders by cultivating attributes and skills, behaviours, or sets of competencies, that are practiced and mastered to become an effective leader.
I have talked in the past about Sustainable Leadership in our blog – what it is, and what its principles are. There could be several styles and types of leadership, and areas where leadership is required. One such areas is law and that is called legal leadership. Legal leadership particularly identifies how leaders behave, and how they govern others directly and indirectly, by controlling organizational structures and processes in a legal department or a law firm.
Douglas B. Richardson says, “All great leaders do five things well, Imagine, Invent, Inspire, Inform, and Influence”. Though all leadership is fundamentally the same, legal leadership can take many forms, involve distinct roles and have different objectives. In a legal department, leadership has many faces: the chief legal officer (CLO), the managing attorneys, the servicing lawyers who work each day with the clients, and all of them should be leaders. Therefore, a legal leader is faced by a unique challenge of leading leaders as more often than not they end up leading other lawyers who are independent identities, individual contributors, pretty much people who do not follow anyone, do not like to be led, trust their own gut, and do not collaborate easily.
Phew! Legal leaders have to be one hell of a leader!!
Being a leader in a legal environment is challenging and may not be everyone’s cup of tea. So, what is required to be an effective legal leader? Law firms and corporate legal departments have identified some basic qualities and attributes that a leader should possess. Here are the five skills and attributes that are important for effective legal leadership:
1. Collaborative skills
Legal leaders usually find themselves managing large teams and complex cases. They usually have different and difficult sets of people at both ends of their stick. On one end are their own team members. And at the other end are the clients from diverse backgrounds, personalities, education levels, experience levels and requirements. The legal leader plays a key role in coordinating all the aspects, and people in bringing out the desired legal outcome.
Exercise collaboration with effective communication.
A good legal leader should hit the ground running through effective and early communication amongst the team members, and letting everyone know their tasks after a brainstorming session. Follow up and make sure to listen to their colleagues’ ideas or the issues they are facing, and help them overcome their obstacles and provide the resources if required.
A legal professional must weigh in everything, facts of the case, potential risks and their consequences
2. Good Judgement
Success in any profession is highly dependent on good judgement, and this is especially true for the legal profession! It is one the most critical attributes that a legal leader must possess – to apply good judgement and make sound decisions. Legal professionals are faced by situations every day where they must make complex decisions by weighing in the facts of the case, evaluating potential risks and their consequences on the case and on the firm/organization.
Good judgement also requires excellent problem-solving skills. A good legal leader must be able to pre-empt the issues, and must have ideas and many solutions to a problem.
However, the leaders must not isolate themselves or feel solely responsible for a decision. Though they are leaders, they are still a part of the team, and must seek input of their peers and other experienced legal professionals on critical matters.
Self-awareness is an important quality of an effective legal leader
3. Self-awareness
While most of the legal professionals, lawyers, and para-legals would call themselves lone-wolves and individual contributors, they are still part of a legal team. As they become leaders, most lawyers face a hurdle what’s called ‘expert identity trap’. This means they identify themselves as subject matter experts but do not necessarily see themselves as a leader. Though several attributes are required to be a good legal leader, self-awareness is one of the key qualities of an effective one.
All legal professionals are bound by the model rules of professional conduct
4. High ethical standards
The legal profession is heavily based on trust, and each member’s ability to demonstrate highly ethical behaviour. Failure to do so will have many adverse outcomes such as not being able to gain the trust of their client and/or colleagues, and even more critical, being disbarred or legally charged and disciplined for misconduct. All legal professionals are bound by the model rules of professional conduct and they must understand their responsibility as the stakes involved are high!
5. Diplomacy
Diplomacy is one of the skills that a legal leader must have to climb the ladder of their legal career. A good leader must exercise diplomacy in handling clients, project the professional image of the firm, and must be respectful of their colleagues. The legal profession is an intensive and demanding career. It is critical for leaders therefore to keep calm and show virtues such as understanding, compassion, and integrity. Diplomacy is not something that one can learn overnight, it is a gradual, self-grooming process that can be effectively used to resolve any conflicts, and manage differences and disagreements.
To be the best legal leader, it takes lot more than just being book-smart too; one needs to be street smart. Our 100% online master’s degree programme prepares you just for that by providing a deep understanding of the key concepts and theories of leadership and their application in a law-oriented organization. Talk to our advisors today to learn more about the programme.
If this year, 2020, has taught us anything, it is that risk is a part of life for humankind. The sooner we come to terms with it, identify the cause, plan and strategise to arrive at effective counter-measures, the greater our chance to survive and prosper!
What is risk?
Organisations have a number of internal and external factors that make it uncertain to meet their vision, missions, values, goals and objectives. These uncertain conditions that persist are collectively termed “risks”.
In general, our tendency is to try avoiding risks as a lot of these instances can lead to negative outcomes, but there can also be positive ramifications of risk. The positive results are an outcome of companies being able to capitalise on the opportunities presented by the risk.
Identifying negative risks and avoiding them, while at the same time being able to take advantage of the opportunities presented by positive risks can be a daunting task for a manager, as a wrong call might result in great loses or a missed opportunity for greater growth.
Risk is a future uncertain event and being able to predict the event and putting in place solutions or strategies to either avoid or take advantage of the event is what risk management is all about. But every organisation’s appetite for risk is different and that is usually directly dependent on the tolerance an organisation might have towards risk.
So, what are risk appetite and risk tolerance?
We have all heard the saying “no risk, no reward”. Taking big risks could lead to big losses, or conversely, could lead to greater rewards.
The risks which are identified as opportunities should be low hanging fruits to deal with and to reap their benefits.
Risk appetite is the willingness of an organisation to take risks, while risk tolerance refers to how much risk an organisation can bear.
Risk Management
According to Douglas Hubbard (The Failure of Risk Management: Why It’s Broken and How to Fix It) – Risk management is the identification, evaluation, and prioritization of risks followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities.
Risk management can and should be implemented across any industry or vertical, such as project management, operations, finance, military, medical, etc. Like any other department in an organisation, the risk management team should ensure that it is able to justify its costs by first creating value for the organisation by becoming an integral part of the strategy and decision-making process of the organisation. The team should be responsive to changes (both internal and external), systematic and process oriented about their analysis, transparent about their processes, and capable of adapting and growing.
Effective implementation of risk management will provide an organisation with
Early warning to potential risk due to uncertain events
Better decision making through a good understanding of risks and their likely impact
Effective allocation of resources
Reassuring stakeholders
Risk management can be broken down in five basic steps
Plan – A risk management plan specifies the management’s intent, systems, and procedures required to manage risks, roles and responsibilities, and tools to be used in identifying risks. The plan will specify how the following four steps are to be executed by the organisation.
Identify – Identify the potential risks, their causes and their potential consequences. This is usually done by a team of subject matter experts using methods such as brainstorming and tools like SWOT analysis, flow diagrams, Ishikawa diagrams, etc.
Analyse – Once you have identified the potential risks, analyse them using either qualitative (a subjective analysis that is quick and easy to implement using tools like matrices probability and impact matrices) or quantitative (a detailed and time intensive analysis of risk using tools such as expected monetary value analysis, Monte Carlo analysis, decision tree, etc.) methods to classify them as high, medium, and low priority risks. Organisations may not have the resources to plan for all the risks and might be able to accept some risks without action, some with only periodic monitoring, and finally, some with a detailed action plan to take advantage of or to all together avoid the risk event.
Plan a response – Depending on the priority of the risk, a strategic response needs to be planned, and resources allocated with the goal of reducing the impact of negative risks, and capitalising on the impact of positive risks. Some of the strategies are avoid/transfer/accept/exploit.
Monitor and control – Nothing in this world is static, change is the only constant. Risk monitoring and control should be an ongoing and continuous process. A change in external or internal conditions might result in a low priority risk evolving into a high priority risk or a high priority risk devolving into a low priority one. By monitoring them you will not be caught unprepared!
This is why, not only is risk management an important module in a number of our online master’s degree programmes, but we also offer a couple of 100% online master’s degree programmes in Risk Management.
If you are interested or have any questions, you can also chat LIVE on WhatsApp with one of our Education Advisors for more information on the programmes we offer, the application process, and for information on discounts we might be offering at this time.
Through the #DILO series of blog posts we have been bringing you insights into the life of our master’s students, sharing their thoughts and opinions, ups and downs, and key learning points during their online studies. The whole idea behind this series is to make you aware of realities of online studies, and help you in decision making.
This week we take a look at a day in the life of our MBA student Beatrice. Beatrice is an electronics engineer with over 19 years of experience working in IT. She is currently studying for the MBA in Management Consulting, offered through our exclusive partnership with York St John University, UK, and working for an American company as an IT Project Manager. Along with handling a full-time job and a master’s programme, Beatrice manages a busy household with a husband and two daughters. Here is an insight and some words of wisdom that Beatrice had to share from her own experience.
With the MBA Management Consulting you gain an understanding of consulting techniques and develop a range of transferrable skills
An Introduction
Which Uni are you studying with?
York St John University (UK)
Which programme did you choose and why?
I chose the MBA in Management Consulting programme. It allows me to improve my knowledge and complete my profile as Project Manager.
The Study Plan
How did you plan to study each module, and what was the reality? How many hours did/do you have to put in each day/or in a week?
Prepare a study plan and pick a time of the day that works best for you
I planned the modules to avoid overlaps and could make it as planned. It is important to allow at least four to five hours a day, 4 days a week. This can be increased to 5 hours a day when approaching assignment deadline.
What part of the day did/do you find most suitable to study? (e.g. early mornings, lunch break, evenings, weekends?)
Allow yourself enough time for each assignment
What worked best for me were early in the morning and late in the evening, when there is no distraction (work, children, etc.)
How much time did you devote for each assignment?
Generally, 4 to 5 days. Sometimes more, depending on the topic.
Travelling and Communication
How did travelling impact your ability to study?
When travelling, other activities make it more difficult to find the required hours to study
How were you able to interact with peers and/or professors given the time differences?
We used e-apps that allowed delayed interactions (email, campus portal, WhatsApp).
A typical day as a master’s student
What does a typical day as an Online Masters’ student look like for you?
1. Spend 2 hours early in the morning, reading and watching class videos
2. Spend 1 hour at lunch time to review and make some researches
3. Spend 1 to 2 hours at late evening to write or complete researches
‘Research’ is an important aspect of Master’s studies. Learn to research effectively.
Any advice?
It is important to have:
1. The support of your entourage
2. A schedule that includes your studies, work and personal activities, even leisure. Follow it as much as possible
3. A contingency plan
Well indeed, incredibly helpful advice from Beatrice. A contingency plan not only saves you from an unpredictable situation but also helps you follow your study plan with confidence. To get you through the master’s studies we have a great faculty who are subject-matter experts, guide and encourage the students to achieve their potential.
If you have been dreaming of joining a master’s programme or have had this personal goal to gain a higher education, now is the time! Take the valuable advice from our current students, gain from their experience, add your own unique study strategies, and make your own success stories! I would love to feature you one day on our college blog.
Chat LIVE on WhatsApp with one of our Education Advisors for more information on all the programmes we offer, application process, and for information on discounts we might be offering at this time.
Once upon a time (about twelve or thirteen years ago), I decided to try my hand at starting a manufacturing business. Why? I was in my 20’s, with an MBA and a few years of work experience under my belt, and I had a dream – to leave my mark on this world, to become the next Henry Ford or Steve Jobs, and I figured, if things go to hell, I was young enough to risk it and still have time to bounce back!
There is of course a lot more to this story and my thought process that lead to my decision, but this is not the point of this post. The point is, when you do decide to start a business there is this steep learning curve, and as the business is your own, there are a lot of factors that must be considered while making decisions.
Many factors that must be considered while making decisions
Like me, if you came from the corporate world, still early in your career with limited managerial experience, you probably just had to look after a very specific task – sales, marketing, a small part of finance, etc. But when you are the head of your own business (no matter how small), you need to be involved in everything! Business Plan, Finance, Revenue, Marketing, Sales…
Strategic Management
When you have so much on your plate there is a risk of your dropping the plate and causing it to break into many tiny pieces (the “plate” here is your business :D).
Understanding how business works, the points to consider before making a decision, and knowing and correctly identifying the different sources of information on which to base your decisions is paramount for the success of your business. This is where strategic management takes on a whole new importance in your thought process. It does not matter how big or small your business/company is, start thinking strategically!!
Think Strategically
Three principles underlying strategy: (1) Creating a “unique and valuable” [market] position (2) Making trade-offs by choosing “what not to do”, and (3) Creating “fit” by aligning company activities to one another to support the chosen strategy
Prof. Michael E. Porter, Ph.D., Harvard Business School
The simplest definition of strategic management is “the formulation and implementation of the major goals and initiatives taken by an organisation’s top managers on behalf of owners, based on consideration of resources and an assessment of the internal and external environments in which the organisation operates.” Strategic management provides overall direction to a business and involves specifying the organisation’s objectives, developing policies and plans to achieve those objectives, and then allocating resources to implement the plans (source: Strategic Management for Voluntary Nonprofit Organizations, Roger Courtney).
A system of finding, formulating, and developing a doctrine that will ensure longterm success if followed faithfully.
Dr. Vladimir Kvint, Chair of the Department of Financial Strategy at the Moscow School of Economics of the Lomonosov Moscow State University
So, how do you go about making your life (business really) easier by implementing strategic management?
First, identify your goals – let’s say your goal is to increase annual sales, but what does that actually mean? It is just too vague. Quantify and be specific. As an example, our goal is to sell 100 ballpoint pens and 200 ink pens by the end of the next financial year.
Now, how do you go about achieving this goal?
Start by identifying what goods you are going to be manufacturing (in our example they are pens), then the market to which you will be selling these manufactured goods.
Next, organise the resources you will need to achieve your goals, like putting in place purchasing and supply chain management to ensure a timely supply of raw materials, people and equipment to carry out the manufacturing process, marketing and sales team to bring in clients, and employing or contracting an adequate support staff (if you are unable to do it yourself) to carry out other support functions.
There are also a number of external forces that can have an impact on your business strategy. One of the tools most used in understanding these forces and helping in developing a strategy is Michael E. Porter’s Five Forces Framework which is a business analysis model that helps explain why various industries are able to sustain different levels of profitability. The Five Forces model is widely used to analyse and determine the corporate strategy of a company.
Porter’s five forces are:
Competition in the industry
Potential of new entrants into the industry
Power of suppliers
Power of customers
Threat of substitute products
A graphical representation of Porter’s five forces
Understanding the principles behind strategic management might take time, but when it comes right down to it, you will find that it is basically logic. The challenge is in getting the right data from the right sources on which you can base your decisions, and of course the methodology you use to analyse the data to arrive at your decisions. A wrong strategic decision may end up costing you dearly.
You can also chat LIVE on WhatsApp with one of our Education Advisors for more information on the programmes we offer, the application process, and for information on discounts we might be offering at this time.
The pandemic has changed the way the world operates. It is essential that we go remote in order to flatten the curve and stop the spread of the novel corona virus. Working remotely may have started as a necessity and an ongoing trend but has become the new normal and is here to stay! While many of us had long dreamt of being able to work remotely (at least for a couple of days in a week), now are working from home every day. #WFH (Work from Home) is the way of the future workplace.
The change has not only affected the corporate world, but the healthcare and education sectors alike. Clinics are now operating remotely with doctors taking online, rather than in-person consultations. Universities have moved their on-campus programmes to online programmes, with professors teaching classes and posting lectures online. Barring some essential service occupations or frontline jobs like emergency workers, retail stores, restaurants and hotels, banking, etc. (where not closed), everything else seems to have moved online.
Most of the businesses have shifted their work online
Many corporates have realized that they actually don’t need workers to physically come to work. Jobs can be managed from home or from practically anywhere in the world. In last week’s blog, we saw how challenging it is to work from home and some useful tips on overcoming those challenges. Now imagine you are not only working from home, but also having to manage a team remotely as well! What a challenge! This has led to heightened responsibility and a greater role for the team leaders. Managers across industries are rapidly looking for new methods and techniques to manage their widely dispersed and distributed teams remotely.
Managing virtual teams through video-conferencing
In the wake of these new challenges, business leaders are required to be all the more creative, focus on new means of communication, and be more inclusive.
So, here are 5 ways that will help you, a new (or old) remote leader, manage your new remote team effectively:
1. Set clear objectives and expectations
Studies show that most workers are not clear of what is expected of them at work. When working remotely this will become even more difficult if not handled properly. In order to encourage maximum participation and engagement from the employees, set clear agendas, norms and expectations with your team. Come to a common consensus as a group so that each employee is comfortable with the goals of the team.
2. Communication is the Key
While working remotely, there is no such thing as over-communicating. It is rather “are you communicating enough”?! While in a normal office environment, a small miscommunication can cause trouble; imagine how haywire things can go when you are managing a team remotely. There are different teams cross functioning, with different perspectives that a leader has to handle at a time. Communicating constantly is an effective means to guide employees, and keeping them engaged and motivated.
Choose the most effective means, amongst the various means of communication
3. Utilize various means of communication
Deriving from the above point, a leader needs to find effective means of communication. The pandemic has given us several alternate communication methods. Business leaders can adopt any of the many tools available like Microsoft Teams, video-conferring on Zoom, UberConference, more conventional Skype, texting, etc. A leader must determine when to use a video-conferencing tool to establish a more personalized conversation, or a quick audio-call or a buzz on Skype messenger for a quick follow up on the work status. This will also establish a norm for employees on how to interact and communicate effectively amongst themselves, and with the manager.
4. Hold daily and regular check-ins
Working remotely might be a new experience for many of your workers. It can be overwhelming for some of them to adjust to this whole new work culture, where the workers are separated from their peers and managers. They might need help and support, but unlike in a normal office environment where they could go knock on their boss’s door or lean on co-worker’s cubicle, employees may not be able to find such instant support or comfort while working remotely. It is therefore necessary for the team managers to have regular check-ins, and one-on-one conversations with their team members. It is all the more important for them to empathize with the situation and hear out what challenges or issues their staff are facing and suggest appropriate solutions.
A home office setup. #wfh is the new normal.
5. Empowering your employees
While working remotely, everyone is their own manager (well at least at their homes, and unless kids are around!). The team leader must tread very carefully before entrusting more responsibilities to the members. The managers must learn to trust and empower their employees. Encouraging a trust-based culture has proven to have an increase in innovation, agility, employee engagement and job satisfaction.
Being an effective and innovative team leader is not everyone’s cup of tea and managing remotely comes with its own challenges. Keeping the above points in view, using the right tools with a high degree of emotional intelligence, and by adopting the best management practices, you can be an effective leader, and help your team thrive. For all the new remote managers, we trust that you’ve got this! Do share with us your own remote managing experience and challenges in the comments section below.
Not all of us wanted to work from home. Some of us actually enjoyed getting up in the morning, making breakfast, dropping the kids at school and then driving to work. We enjoyed meeting our co-workers (some of whom might have even been our friends, or better still, our arch nemeses!), socialising over a bad lunch at the cafeteria, meeting friends for drinks (or coffee) after work, and finally, getting back home at the end of the day for a good night’s rest.
Meetings with co-workers
On the other hand, some of us have dreamt our entire work life of working from home, waking up late, dropping the kids off at school in our pyjamas, not being stuck in traffic, not having to see the face of that irritating co-worker/boss, and having the time to explore other hobbies and interests.
Whatever your preference, COVID-19 has ensured that we all need to adjust to a new way of working. And for most of us, that way is to work from home.
Even after this pandemic becomes history, the impact of COVID-19 on the way we work and live will continue to remain. How we live today (or at least a version of it), might become the norm. So, understanding the challenges of working from home, and how best to overcome them, is important for us to continue to be as efficient and productive as working from an office.
The new norm
Challenges
When the day becomes the night and the sky becomes the sea, When the clock strikes heavy and there’s no time for tea.
Cheshire Cat, Alice Through the Looking Glass
COVID-19 has not only forced some of us to work from home but has also made us an island unto ourselves, forcing us all to stay isolated and locked in our homes. Now, man by nature is a social creature and even those of us who worked from home before the pandemic still had the option of going out and socialising to their hearts’ content.
All of this is no longer possible. Social distancing is what needs to be followed by us to truly beat this pandemic. But the result is that every day starts to feel the same, bleeding into each other, there is very little to break the repetitive cycle. In addition, for those of us who were thrust into working from home, the merging of the workspace with the living space proved to be an additional challenge to overcome.
Working through social distancing
Going to the office provided us with a structure – get to office on time, morning meetings with the team, understand the goals to achieve on the day, check emails, coffee break, work, lunch, work, may be an evening meeting with the team to recap, and then go home. But with this structure removed, as a result of working from home, one of two things might happen:
lose track of time and goals achieved, overwork yourself and burnout quickly or
lose focus, get stuck doing busy work and don’t get any real work done
The following are 5 simple steps that you can follow that might help you overcome some of these challenges
Dedicated workspace: The first thing you need to do is create a dedicated workspace. Remove all distractions from this area and keep everything you will normally need to do your work close to you. Maybe set it up similar to the workspace at your office. If possible, set up the workspace in a room that no one else uses, a room with a door. Closing a door behind you can make a big difference to creating an effective and dedicated workspace.
Dedicated worktime (schedule): Even those of us that don’t actively keep a schedule or a calendar, inevitably follow a semblance of a schedule when we work from an office. Get to office in the morning, review the tasks that need to be done by the day’s end, monitor the progress of the tasks that need to be completed by the end of the week/month/year, do busy work like checking emails and other non-critical tasks, work on critical tasks, go on breaks (lunch, coffee, etc.), and finally windup for the day. So, a good way to focus is to pretend that you are still working from an office. Create a schedule that is similar to your workday. Start by assigning a time to begin work and a time to end the workday. Determine the tasks that need to be completed by the end of the day/week/month and review where you currently stand and what needs to be done to stay on schedule. Take a break for lunch and coffee, like you would do at office, but do not exceed the break time.
Set boundaries: This step might be a little emotionally difficult. Getting your family, especially kids and pets, to understand that you are working and not having a day off might be a little difficult in the beginning. But once they understand your schedule and that the workspace is for you to work, over time they will give you space to work.
Celebrate the accomplishments: Many of you might not have noticed it, but at the office, when you complete a task and it is submitted to your manager for review, or announced in a team meeting (or for sales people, when you reach your target), there is a weight that is lifted from your shoulders. When you work from home, for the most part, you are on your own. There is no one acknowledging your success or failures on a regular basis (at least not as regular as in your office), and there is no relief to that weight on your shoulders. So, figure out ways of doing this yourself. When you have successfully completed a task, realise that you have, and acknowledge this fact! Stand up and dance like nobody’s watching!
Use the extra time: You are working from home, that means you will have extra time on your hands. On top of that, COVID-19 has enforced self-isolation and social distancing. So, breaking the monotony is important to remaining focused, motivated and sane. Take up something that will challenge you, something that you always wanted to do but never had the time before, something that will push your boundaries. Maybe learn how to cook/bake, workout and get fit (haha), do online programmes and learn new things, may be get that degree you have always wanted.
If you have been thinking about doing a master’s degree, to challenge yourself and keep motivated, while at the same time being better qualified and prepared for the challenges to come, have a look at our list of programmes and see if we have anything that could help.
You can also chat LIVE on WhatsApp with one of our Education Advisors for more information on the programme that is right for you, the application process, and for information on discounts we might be offering at this time.
What is corporate governance? Well, corporate governance can simply be defined as the systems by which companies are defined, directed and controlled. As the name suggests, it is the practice that governs the corporates to comply with legal, regulatory and risk requirements and meet the business demands. And it is mainly the responsibility of the Board of directors. It is important that the board takes on board (pun intended) the intertwined roles, relationships, and interests of the company’s various stakeholders.
A corporate has both internal and external stakeholders. The internal stakeholders include the company owners, management, executives, board of directors, shareholders, and employees. And the external governance stakeholders include the society and community, customers, suppliers, vendors, and debt holders.
Because the corporates ( with the exception of s non-profit organizations) operate for profit, one of the main focus areas of corporate governance is to make the business leaders manage the finances in the most effective way, and in the best interest of their internal and external stakeholders. There are several laws and external regulations that monitor this aspect of corporate governance. However, many companies establish their own internal framework and regulations to ensure smooth and ethical operations of the organisation.
Regardless of how big or small a company, it is important to have an established set of practices that dictates good corporate governance. It also looks good on the part of the company that their finances are well accounted for, and they have done some good deeds for society.
Now many argue that corporate governance does not affect the bottom line of the business and is not ‘necessary’ for running the business, as it does not affect the operational or financial performance of the company. It is difficult to put together and implement a customised corporate governance plan. The additional practices cost a lot of money and time going through the administrative procedures of organization’s bureaucracy.
The other side of these arguments, however, stresses the importance of corporate governance practices and the impact they have on the successful running of a business in the long term.
How corporate governance benefits a company
Corporate governance is the foundational stone of any good business. There is a direct correlation between good corporate governance and enhanced shareholder value in the long term. It is an important tool in managing the business in an ethical way, and leading to its growth.
Some of the key benefits of good corporate governance are as follows:
1. Power packed board of directors
As I mentioned above, the board of directors are responsible to oversee how the corporation runs. Good corporate governance focuses on establishing a strong board for the company, comprising of directors who are knowledgeable, competent, qualified, matter-expert and who hold strong ethical values. The board will then be able to provide strong and dedicated leadership, and vision to the company.
Corporate Governance ensures the corporation has a strong Board of directors
2. Promoting ethical culture and corporate integrity
Good corporate governance practices lay much emphasis on integrity in all business dealings and ensuring the company is socially responsible. They ensure compliance with the law, and an ethical business code of conduct.
3. Enhanced public image
In todays competitive business environment, having good corporate governance can prove to be a differentiating factor working in favor of the company. Being socially responsible, contributing towards the environment, implementing sustainable practices, and other societal benefits, paints a good image for the company and builds confidence for both the internal and external stakeholders of the company.
4. Boosts new investment
The venture capitalists and investors feel more confident in investing in a company with good corporate governance practices. They ensure good return on investment for the investor. Increased investments mean expansion of business, and create more employment opportunities.
5. Effective risk management
A board of directors with a strategic vision is imperative in identifying potential risks faced by the company, such as industry specific risks, global markets, operational, legal, and financial risks. By evaluating risks, and implementing timely plans, good corporate governance practices can help mitigate risks for the company.
RKC boasts a strong portfolio of online master’s programmes, offering online MBA, MSc and LL.M programmes. The students have a wide range of 18 MSc, 23 MBA and 3 LL.M programmes.
You can chat LIVE on WhatsApp with one of our Education Advisors for more information on the programme, the application process, and for information on discounts we might be offering at this time.
Continuing with our blog series featuring our female students, we asked our students to share their experiences with us – the challenges of getting back to school, of managing work and study along with family, and the unique challenges they faced being female students.
Liza is a graduate of our MA programme in Leading Innovation and Change (MALIC) through our exclusive partnership with York St John University, UK. This programme has been discontinued, and has reincarnated as a 100% online MBA programme in Leading Innovation and Change.
Liza Rudolfsson being the model student
Now, let us see what she has to say!
Who is …
A short profile
Sahil Devasia (SD): Who are you, really?
Elizabeth (Liza) Rudolfsson (ER): Creative and hard-working business consultant with roots in the construction industry.
Getting back into education
Your story of getting back to do a Master’s degree
SD: What was the driving force behind your enrolling for an online degree? Who inspired you? What motivated you?
ER: Interest in the subject. Hope that I could apply this new knowledge directly with my customers. Watched a test video with George Boak, which convinced me to choose YSJ.
SD: What were the thoughts/situations/people/challenges holding you back from starting (if any)? How did you overcome them?
ER: People around me were surprised (I’m 63) but supportive. Luckily, I underestimated the time it would take, or I would never have started.
SD: What surprised you the most when you started your studies?
ER: How much time was required! The high level of ambition. The fun of having ‘classmates’ from all over the world.
SD: Do you feel there are unique challenges women face when deciding to get back into education?
ER: Not really.
Getting the degree
The work to get the degree – what did you learn, how did you balance, what would you do differently
SD: Which programme did you do? Why?
ER: Leading Innovation and Change because I’m interested in – and work with – leadership, change and innovation.
SD: What is the single most important thing you learned during the programme?
ER: A ton of interesting facts, theories and models, but the most important learning was scientific, critical thinking and how to handle sources and references.
SD: How did you balance work and studies?
ER: I cut down on my work.
SD: Any particular challenges to being a woman and studying online, or do you think all students face the same ones?
ER: I don’t know about other students, but I can’t see any particular challenges.
Life post degree
What changed, if anything?
SD: What’s new in your life since graduating / starting your studies? Any visible impact already?
ER: I sold a strategy project for small businesses right after the Strategy module. This is now a yearly event, thank you MALIC! Before, I had a lot of superficial knowledge and a lot of practical experience. Now I find that I have a steady foundation with deeper knowledge that also ties into my experience and brings it all together. I get a lot of comments from customers about my solid knowledge, and they appreciate how I reference everything so that they know where the information comes from.
SD: Anything you are doing differently now because of the things you learned?
ER: I reference everything! I carefully separate information and opinion. I venture into new areas. I always did, but now with more confidence.
SD: Do you feel that getting a Master’s degree or doing other online programmes can reduce gender discrimination in the work place?
ER: Probably not in itself, maybe combined with other factors.
Advice for other women
Or other students, really.
SD: Imagine you could send a message back in time to your pre-degree self: what would it be?
ER: Take the writing of assignments (and the feedback) seriously, that’s where most of the learning happens. Use your new knowledge right away to make it stick.
If you have been thinking about getting your master’s degree, proving to yourself and others that you CAN do it, now would be a good time to take the plunge. Have a look at our list of programmes and see if we have anything that could help.
Hope this blog has answered some of your questions, and please watch this place for more similar blogs. You can also chat LIVE on WhatsApp with one of our Education Advisors for more information on all the programmes we offer, application process, and for information on discounts we might be offering at this time.
