21st Century Leadership
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The Business of Behavioral Economics

The Business of Behavioral Economics | 21st Century Leadership | Scoop.it

You've done everything—endured diets, purged your freezer of Ben & Jerry's, and educated yourself on fat, sugar, and calories. Yet, you can't manage to lose weight.

 

What's wrong with you? According to standard economic theory, which gives humans (perhaps too much) credit for making rational choices, those efforts should be enough to change your behavior. If you know the consequences but still get fat, you must want to be overweight.

 

“Losing $100 is more painful than gaining $100 is pleasurable”


Via The Learning Factor, Graeme Reid
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The Learning Factor's curator insight, August 13, 2014 6:46 PM

Leslie John and Michael Norton explore how behavioral economics can help people overcome bad habits and change for the better.

Graeme Reid's curator insight, August 13, 2014 10:00 PM

Interesting article on how behavioural economics can lead to behaviour change.

21st Century Leadership
Leadership and Encouragement for the 21st Century
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7 funny quotes with serious leadership lessons.mp4

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Watch Nobel Prize-winning economist Joseph Stiglitz explain globalization in three minutes

Watch Nobel Prize-winning economist Joseph Stiglitz explain globalization in three minutes | 21st Century Leadership | Scoop.it
Watch Nobel Prize-winning economist Joseph Stiglitz explain a contested and complex phenomenon: globalization.

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David Hain's curator insight, July 15, 4:43 AM

This is the world we have to make sense of...need for leadership recognising and making sense of complexity!

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Rising Strong: Brené Brown on the Physics of Vulnerability and What Resilient People Have in Common

Rising Strong: Brené Brown on the Physics of Vulnerability and What Resilient People Have in Common | 21st Century Leadership | Scoop.it
“There is no science without fancy, and no art without facts,” Vladimir Nabokov famously proclaimed. Today, hardly anyone embodies this sentiment more fully than Brené Brown, who came of age as a social scientist in an era when the tyranny of facts trivialized the richness of fancy and the human experience was squeezed out of the qualitative in the service of the quantitative, the two pitted as polarities. But like Susan Sontag, who recognized how polarities limit and imprison us, Brown defied these dogmatic dichotomies and went on to become what she calls a “researcher-storyteller” — a social scientist who studies the complexities and nuances of the human experience with equal regard for data and story, enriching story with data and ennobling data with story in a quest to “find knowledge and truth in a full range of sources.”

In Rising Strong (public library), Brown builds upon her earlier work on vulnerability to examine the character qualities, emotional patterns, and habits of mind that enable people to transcend the catastrophes of life, from personal heartbreak to professional collapse, and emerge not only unbroken but more whole.

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David Hain's curator insight, July 19, 5:24 AM

Resilience - it's a buzz word for a reason. Brene Brown and Brain Pickings on why - excellent!

Ron McIntyre's curator insight, July 19, 2:21 PM

Thanks for sharing David Hain - Excellent article.  You're correct in stating that "resilience" is a buzzword today.

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Influence: Five things that build it; Five things that weaken it

Influence is a hot topic.  The #1 most asked question I get as a consultant, coach and instructor is, "How can I get people whom I have no authority over to do what I need them to do?"

Do a Google search or take a peek at HBR articles and you will find plenty on influence techniques, tactics and approaches.  Those are all great, in the moment.  But your level of influence starts well before you start the conversation or click on that first slide.  Influence is built on history.  It builds over time.

You build influence through a few, somewhat counterintuitive mindsets and actions: 

Via Don Dea, David Hain, Roger Francis
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David Hain's curator insight, July 10, 3:03 AM

You won't get far without influence. Do you think about how you go about it?

Ron McIntyre's curator insight, July 10, 8:19 AM

"Good Influence" is NOT being the most obnoxious person in the room.  It is also not being the loudest.

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You Don’t Need a Title to Be a Great Leader

You Don’t Need a Title to Be a Great Leader | 21st Century Leadership | Scoop.it

Many people believe leadership is something that's conferred along with a title or attained when you direct a team of people, but true leadership is never about authority or power. It's about helping others grow, and that's something anyone can do.

 

If it's your desire to influence and have an impact on others, you have leadership qualities. And if you can inspire people to do something they thought they couldn't do, demonstrate how the impossible is possible, believe in someone when they didn't believe in themselves, you're already a leader.

 

People don't set out to be great leaders, they set out to make a difference. It's never about the role or the title, but about influencing others, helping and supporting them.


Via The Learning Factor, Roger Francis
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Subha's curator insight, July 18, 8:22 PM

Being a good communicator and building relationships are the main qualities that differentiate a good  leader from the rest. Problem solving , integrity and other skills sets mentioned in the article are easily acquired.


 


Great leaders are great listeners!


 


 

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Ron McIntyre's curator insight, July 19, 2:23 PM

So True!

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"What most people think vs. What successful people know" #leadership #infographic

"What most people think vs. What successful people know" #leadership #infographic | 21st Century Leadership | Scoop.it
Related

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One Question Every Leader Should Inspire In Those They Lead

One Question Every Leader Should Inspire In Those They Lead | 21st Century Leadership | Scoop.it
One of the common themes I’ve written about over the past few years is the importance of building and nurturing relationships with your employees in order to bring out the best in those under your care. While we can appreciate what this means in abstract terms, I’d like to share the recent experiences of two leaders that helps to illustrate the benefit in bringing this approach to your leadership.

Via David Hain, Marc Wachtfogel, Ph.D.
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David Hain's curator insight, July 10, 5:35 AM

In the end, relationships are all we have - or don't! See Brexit, Tories, Labour, etc...

Ron McIntyre's curator insight, July 10, 8:18 AM

Honest & caring relationships are the solution to our issues today but egos keep getting in the way.

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Resilience Is About How You Recharge, Not How You Endure

Resilience Is About How You Recharge, Not How You Endure | 21st Century Leadership | Scoop.it
Try really hard, and then stop, recover, and repeat.

Via Marc Wachtfogel, Ph.D., Roy Sheneman, PhD
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Influence: Five things that build it; Five things that weaken it

Influence is a hot topic.  The #1 most asked question I get as a consultant, coach and instructor is, "How can I get people whom I have no authority over to do what I need them to do?"

Do a Google search or take a peek at HBR articles and you will find plenty on influence techniques, tactics and approaches.  Those are all great, in the moment.  But your level of influence starts well before you start the conversation or click on that first slide.  Influence is built on history.  It builds over time.

You build influence through a few, somewhat counterintuitive mindsets and actions: 

Via Don Dea, David Hain, Roger Francis
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David Hain's curator insight, July 10, 3:03 AM

You won't get far without influence. Do you think about how you go about it?

Ron McIntyre's curator insight, July 10, 8:19 AM

"Good Influence" is NOT being the most obnoxious person in the room.  It is also not being the loudest.

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Toxic leadership 2: its impact and how to address it 

Toxic leadership 2: its impact and how to address it  | 21st Century Leadership | Scoop.it

In the second article in a series on toxic leadership, Kevin Johnson highlights the consequences of this behaviour and the interventions that can tackle it.


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Ahead of the curve: The future of performance management | McKinsey & Company

Ahead of the curve: The future of performance management | McKinsey & Company | 21st Century Leadership | Scoop.it
The worst-kept secret in companies has long been the fact that the yearly ritual of evaluating (and sometimes rating and ranking) the performance of employees epitomizes the absurdities of corporate life. Managers and staff alike too often view performance management as time consuming, excessively subjective, demotivating, and ultimately unhelpful. In these cases, it does little to improve the performance of employees. It may even undermine their performance as they struggle with ratings, worry about compensation, and try to make sense of performance feedback.

These aren’t new issues, but they have become increasingly blatant as jobs in many businesses have evolved over the past 15 years. More and more positions require employees with deeper expertise, more independent judgment, and better problem-solving skills. They are shouldering ever-greater responsibilities in their interactions with customers and business partners and creating value in ways that industrial-era performance-management systems struggle to identify. Soon enough, a ritual most executives say they dislike will be so outdated that it will resemble trying to conduct modern financial transactions with carrier pigeons.

Yet nearly nine out of ten companies around the world continue not only to generate performance scores for employees but also to use them as the basis for compensation decisions.1 The problem that prevents managers’ dissatisfaction with the process from actually changing it is uncertainty over what a revamped performance-management system ought to look like. If we jettison year-end evaluations—well, then what? Will employees just lean back? Will performance drop? And how will people be paid?

Via David Hain, Roger Francis
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David Hain's curator insight, July 4, 5:39 AM

New methods of performance management are emerging - are you watching. Many wasted hours and much cynicism to be saved!

Ian Berry's curator insight, July 4, 7:05 PM
Some very good insights here although as I've been advocating for a very long performance management is dead and has be replaced with performance leadership
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Resilience Is About How You Recharge, Not How You Endure

Resilience Is About How You Recharge, Not How You Endure | 21st Century Leadership | Scoop.it
Try really hard, and then stop, recover, and repeat.

Via Marc Wachtfogel, Ph.D.
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Simon Sinek: How to Build a Company that People want to Work For

Simon Sinek: How to Build a Company that People want to Work For | 21st Century Leadership | Scoop.it
Simon Sinek, author of Start With Why , explains to Inc. features editor Diana Ransom why great leaders give their employees the space and responsibilities to grow.
Via TechinBiz, Marc Wachtfogel, Ph.D.
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Mental Models I Find Repeatedly Useful — Medium

Mental Models I Find Repeatedly Useful — Medium | 21st Century Leadership | Scoop.it
Around 2003 I came across Charlie Munger’s 1995 speech, The Psychology of Human Misjudgment, which introduced me to how behavioral economics can be applied in business and investing. More profoundly, though, it opened my mind to the power of seeking out and applying mental models across a wide array of disciplines.
A mental model is just a concept you can use to help try to explain things (e.g. Hanlon’s Razor — “never attribute to malice that which is adequately explained by carelessness.”). There are tens of thousands of mental models, and every discipline has their own set that you can learn through coursework, mentorship, or first-hand experience.
There is a much smaller set of concepts, however, that come up repeatedly in day-to-day decision making, problem solving, and truth seeking. As Munger says, “80 or 90 important models will carry about 90% of the freight in making you a worldly‑wise person.”
This post is my attempt to enumerate the mental models that are repeatedly useful to me. This set is clearly biased from my own experience and surely incomplete. I hope to continue to revise it as I remember and learn more.

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David Hain's curator insight, July 8, 2:26 AM

Sense advised us to work on our mental models. This list might change your thinking, performance and life!

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Give the Gift of Listening - People Development Network

Give the Gift of Listening - People Development Network | 21st Century Leadership | Scoop.it
How often have you been in what you call “a conversation” (for lack of a better word) that is completely one-sided?  For example, one of the people in the conversation is doing 90% of the talking and even if the other person manages to get in a word or two, the other person either responds immediately or continues on their rant.  One of my favourite life lessons is to “listen to understand, not to respond”.  Unfortunately, in my experience, 90% of the population does not do this.  They want to help.  They want to respond.  They want to be heard.  They want their opinion to be heard.  They want their opinion to be adapted…..

On a more positive note, I have been fortunate enough be on the receiving end of the gift of listening.  It is an amazing feeling to really have someone listen to what you have to say, to be curious about what you are saying and why you are saying it.  Instead of responding with their opinion or their experience, they respond with empathy and understanding.  It provides an incredible connection between two people.  Listening is an important skill for all of us, but as Leaders, it is even more important.  As a Leader, listening to others gives you the opportunity to really connect with your colleagues and to  understand how they are feeling about what is going on in your organization.  It also brings respect for you from your team because they know that their opinion and thoughts are being heard and are valuable.

Imagine how it would feel if you could give someone the gift of listening.  It takes a lot of practice and discipline to control the urge to provide input and opinion, but most of the time, that is not what people want.  They want to be SEEN, HEARD, and UNDERSTOOD.  This is a common need of all human beings.

I urge you to try these few things.

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David Hain's curator insight, July 16, 7:50 AM

We all benefit form a good listening to! And we tend to get what we give...Go figure!

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Suffering from Burnout? 3 Ways to Get Yourself—and Your Team—Back on Track

Suffering from Burnout? 3 Ways to Get Yourself—and Your Team—Back on Track | 21st Century Leadership | Scoop.it

Like most people, chances are that you were enthusiastic about your current job when you were first hired. You were excited about the new role, its challenges, and the people you would be working with.

But now for various reasons, you or your direct reports may be struggling to stay afloat. Perhaps as a manager you have reached a stage where you feel discouraged or frustrated—or perhaps you see your team’s morale or performance floundering.


Via Roger Francis
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Groupthink: avoid the drive to conformity

Groupthink: avoid the drive to conformity | 21st Century Leadership | Scoop.it

Back in 2007 I ran a session for senior traders in a financial services organisation.
 
A participant was presenting a project about a complex new financial product to the room. As the presentation rolled on, one person, let’s call him Bill, kept looking at the PowerPoint and back at his colleagues. The rest of the group were enthralled by this clever way to make money.

When the slide show ended, the presenter asked for questions. The first one he got was from Bill and this was it: “Is this even legal?”.

Did the group pause to think about Bill’s question? Did the presenter answer it? Not exactly. What happened was this: the group laughed. One person threw a pen cap at Bill.


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#Leadership Presence: The Ultimate Infographic Guide - The Leadership Crucible

#Leadership Presence: The Ultimate Infographic Guide - The Leadership Crucible | 21st Century Leadership | Scoop.it

Leadership presence is the elusive secret of successful leadership.


If you’ve got “IT” you radiate a magnetic effect that comes from being authentic and inspires people to you.l


And, if you have “IT” your presence opens the door to greater leadership responsibilities.


Increase your leadership presence by taking a look at the video, “ultimate” infographic, and bonus material....


Via Jeff Domansky, Ricard Lloria
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Jeff Domansky's curator insight, March 26, 12:21 PM

Great Infographic for leaders! Recommended reading!

Jeff Domansky's curator insight, March 26, 12:41 PM

Great Infographic for leaders! Recommended reading!

Antonio Ormachea's curator insight, March 29, 4:30 PM

Great Infographic for leaders! Recommended reading!

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5 Things You Should Expect From Your Coach

5 Things You Should Expect From Your Coach | 21st Century Leadership | Scoop.it
Find out what to expect from a professional coach and three things you should be doing yourself.

Via Ariana Amorim, Mark E. Deschaine, PhD, Ricard Lloria, Marc Wachtfogel, Ph.D.
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Tessa Dagnely's curator insight, July 9, 7:57 AM
Quelques vérités très bien exprimées - in English - sur coach et coaching.
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How to Find and Engage Authentic Informal Leaders

How to Find and Engage Authentic Informal Leaders | 21st Century Leadership | Scoop.it
The most important influencers of corporate behavior may not have a lofty title or an elevated slot in the organizational chart.

Via John Lasschuit ®™, Marc Wachtfogel, Ph.D.
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John Lasschuit ®™'s curator insight, July 13, 4:33 PM

By Reid Carpenter. How can you identify, engage, and motivate a group of leaders whose resumes, 360 reviews, and LinkedIn profiles won’t necessarily highlight their capabilities and status?

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Four Ways Positive Leaders Are Different from Other Smart, Hardworking Leaders

Four Ways Positive Leaders Are Different from Other Smart, Hardworking Leaders | 21st Century Leadership | Scoop.it

I am feeling great this week. It must be the benefit of a vacation—not only did we enjoy wonderful weather in a beautiful place, I unplugged from the news as well as from social media.

Doing this also removed me from the seemingly endless and snarky commentary that accompanies any substantial story these days.  It reminded me that anyone can point out what is wrong, what doesn’t work, and what is unfair.   The insidiousness of the critical perspective is that it attracts additional criticism. Then, a big pile of what’s wrong is mounded up on the table.  It’s hard to see anything else!

But is that useful?


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Suffering from Burnout? 3 Ways to Get Yourself—and Your Team—Back on Track

Suffering from Burnout? 3 Ways to Get Yourself—and Your Team—Back on Track | 21st Century Leadership | Scoop.it

Like most people, chances are that you were enthusiastic about your current job when you were first hired. You were excited about the new role, its challenges, and the people you would be working with.

But now for various reasons, you or your direct reports may be struggling to stay afloat. Perhaps as a manager you have reached a stage where you feel discouraged or frustrated—or perhaps you see your team’s morale or performance floundering.


Via Roger Francis
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Four Ways Positive Leaders Are Different from Other Smart, Hardworking Leaders

Four Ways Positive Leaders Are Different from Other Smart, Hardworking Leaders | 21st Century Leadership | Scoop.it

I am feeling great this week. It must be the benefit of a vacation—not only did we enjoy wonderful weather in a beautiful place, I unplugged from the news as well as from social media.

Doing this also removed me from the seemingly endless and snarky commentary that accompanies any substantial story these days.  It reminded me that anyone can point out what is wrong, what doesn’t work, and what is unfair.   The insidiousness of the critical perspective is that it attracts additional criticism. Then, a big pile of what’s wrong is mounded up on the table.  It’s hard to see anything else!

But is that useful?


Via Roger Francis
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Building a Culture of Learning

Building a Culture of Learning | 21st Century Leadership | Scoop.it
Building a Culture of Learning Infographic The Building a Culture of Learning Infographic highlights some vital data from the research report Building a Culture of Learning: The Foundation of a Successful Organization concerning why you should...
Via Alexis Assimacopoulos, Roger Francis
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Marshall Goldsmith On How To Drive Behavior Change - Forbes

Marshall Goldsmith On How To Drive Behavior Change - Forbes | 21st Century Leadership | Scoop.it
Dr. Marshall Goldsmith is one of world's top business and leadership experts.

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