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Michigan Association of CPAsBusiness Edge
April 27, 2012
Volume 9, No. 4
 
In this issue...
 -  Leadership When “It” Hits the Fan: Effective Communications in Critical Times
 -  A Broken Clock is Right at Most Twice a Day
 -  Are Demotions Insulting?
 -  Successful Networking
Words from the Wise

“Statistics are no substitute for judgment.”

- Henry Clay

Leadership When “It” Hits the Fan: Effective Communications in Critical Times

The true stripes of a leader will often be seen as a result of a tragedy or terrible situation. There are those who follow distinctive, easy-to-identify patterns that can foreshadow success or failure. A leader can either take action or be in denial; this will then determine who will be held to account: those in charge or those who follow the leader’s directives.
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A Broken Clock is Right at Most Twice a Day

Some economic forecasts can actually end up being accurate, but the majority is so filled with contingencies and on-the-one-hand-but-on-the-other-hand economic predicting. If you want to reduce reliance on these so-called experts, understand that a forecaster’s success is probably a chance occurrence rather than an indication of skill or accuracy.
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Are Demotions Insulting?

In some situations, demoting someone is the best course of action if the desire is to maintain your investment with an employee. It can actually serve to cultivate loyalty from that individual. The important thing for the organization to do is understand why the individual was under-performing — whether there was too big a gap in the prior promotion; if the performance can be corrected; or if it is an issue of skills or abilities.
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Successful Networking

Networking is a powerful way of building professional relationships and generating new business opportunities. It is a give and take relationship; exchanging ideas, advice, contacts and referrals. While there is no one right way to network, a universally understood wrong way is to not exercise proper business etiquette when seeking to develop new relationships.
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