Business Management - All Posts - Ze'ev Ronen - Business Excellence

In the current series of articles, I focus on the important KPIs every business must monitor. I have already written many articles regarding this very important issue. However, this article focuses on concisely presented KPIs with links to learn about them in greater detail.

It is widely accepted that without data and careful analysis, businesses cannot advance. Not assessing and not controlling processes is like driving a car without the ability to see the way or check how much petrol is left in the tank.

The CEO of Leumi Bank, Mr. Hanan Freidman, has recently made a public announcement which revolutionizes the service the bank provides to its customers. Hanan committed to personally make sure that all customers’ requests are resolved within 24 hours and if not, customers are encouraged to communicate with him on his private WhatsApp. This, among other actions the bank is implementing,  will overturn the way customer service has been practiced in Israel for decades.

This article focuses on the principles of managing employees during wartime.

This article was written during wartime. Life continues and businesses continue to operate. I have recently been asked many important questions regarding the correct way to operate a business in the face of the current difficulties and obstacles.

A few days ago, at one of my late-night stops at a gas station, I felt like eating a popsicle. Unable to decide which brand to choose, I bought one of each. At that point I noticed that although wrapped in similar size wrappings, one popsicle weighed more than the other. MAGNUM weighed 85 grams while Milka weighed only 69 grams. The Milka popsicle is more expensive. Yes, it costs more though it is substantially smaller.

A management board of a retail chain outlets decided to set a prize-winning competition between the outlets. The competition aimed at providing an incentive to increase sales. The prize was a medal for the winning team and an invitation for two to a fancy dinner for the team members.

Does everyone know what other people earn in your company? If the answer is “yes”, is it official information or is it spread by word of mouth? What effect does knowing what other people earn have on gender pay? How does it affect employee’s motivation?

A few days ago, I went shopping at a D.I.Y store Upon entering, I was directed to the department I was looking for, but no staff member was present. It took me a few minutes to locate someone who was able to tell me the name of the employee responsible and a few more minutes to find the employee who answered my questions about the product I wanted to buy.

This article is about the challenges managers face when trying to implement decisions and assignments reached during these meetings.

Today I present five CEO’s excellent decisions that led them to great achievements. Some of those decisions were taken at a moment of crisis and turned things around. Others were taken by intuition and led the way to success. Making these decisions required courage and determination.

This article is not about momentary misjudgments or wrong decisions made on the spur of the moment. It is about mistakes which are made by CEOs who are driven by approaches that, in my opinion, are incorrect and can cause substantial negative impact on business results.

For the last eight years I have been publishing articles dedicated to International Women’s Day, which falls on March 8th. Why publish an article dedicated to International Women’s Day? Is it an admission that my other articles do not address women on all other days of the year? No, not at all. All my articles address both men and women, but the articles written specially for International Women’s Day examine the unique aspects related to women in business.

A separation won’t stop a couple from thinking about each other. In the same way, termination of employment doesn't stop employers and fired employees from talking about one another. Managers and employees continue to mention previous employees’ names, and dismissed individuals continue to talk about their former place of work.

I was on my way to a meeting with Ilan, Dovi and a few other people when I received a message from Yigal asking me to check something for him. Before joining the meeting, a few minutes too late, I opened my messages for a brief glance. I then entered the meeting noting to myself to get back to Yigal right after the meeting.

Let us assume that we wish to improve the company’s profitability. The company sells 20 products. We then insert those items into a table - the product generating the highest profit will appear at the top row of the list, and the product generating the lowest profit will be the last item on the list. According to the Pareto principle, there is a good chance that the first four products on the list produce around 80% of the company’s revenues.

Yesterday we hiked from Neve Ativ to Birkat Man and from there to the lower parking lot of the Hermon site. The weather was wonderful. The sun was with us all day. There was snow, there were amazing views and an excellent group of hikers. Bottom line - it was excellent. But as sometimes happens, the road to the goal – the trip – was full of pitfalls.

Every year, CofaceBDI conducts a survey in collaboration with The Marker magazine, on the question "Who are the 100 companies that are most worth working for in Israel?" The survey was conducted among about 300,000 employees and is also based on internal surveys of the companies.

Someone once called me for advice. He told me he was self-employed and asked if I could help him collect money his customers owed him. The amount of the debt was about 1 million NIS. He worked for two years without receiving payment.

Rafi was a successful young CEO who wanted to achieve the ambitious goal of accelerated growth within five years. He built a strategy with the help of our team's "Plan for Tomorrow" and got stuck on a significant obstacle: he needed to recruit a sales associate, or even two.

At one of the NGOs I am a member of, there is a mentoring program. The graduates mentor younger peers. The mentoring last for six months, for a few dozen participants. The mentoring is voluntarily, and each year we have more mentors than we require. The organization has other social activities, involving young adults who live in Israel's periphery, and we don't lack volunteers.

Yossi called me, introducing himself as an investigator of cybercrime. He asked me if I'd been the victim of cybercrime in the past year.

While bike riding with a group of friends, A. and H. began a heated argument. As I got closer to them I heard it was about a bike riding event that took place many years ago, and they each had a different memory of. Each was convinced their memory was more accurate, and as often happens in such cases, they only listened to each other in order to quickly contradict each other. This wasn’t a dialogue, but two monologues.

Every year, CofaceBDI and The Marker magazine conduct a survey, on the topic "the 100 best companies to work at in Israel". The survey had about 150 thousand participants, and also uses internal surveys by the above companies. The survey then asked 2,000 participants to rank the parameters according to their importance.

Work meetings take up time, and it's often wasted time. But there are also efficient meetings, that give a sense of purpose and a drive for change. I assume many of you are among those whose experience with meetings is that they're a waste of time. You leave every meeting frustrated, and have learned to stay quiet to make the meeting go faster.

I once met with a CEO of a big organization we very much wanted to work with. From the beginning I looked at him with an encouraging smile. He answered in the same optimistic spirit. We grabbed a cup of coffee and settled in the meeting room, opening with some small talk. He mentioned he likes to listen to a certain radio program, of which I am also a frequent listener, and shared his opinions of it, with which I agreed.

If you have a convenience store at a gas station, you need to stock a number of essential items customers might suddenly need, or buy impulsively when they stop to fill up. Nobody does their weekly grocery shop at a gas station.

One of the questions I routinely ask managers is, how much of their time they spend doing their employees’ jobs (putting out fires, problem solving, answering questions). Most, almost all, say they spend 70% to 95% of their time at the operational level. A level which includes mostly activities which could be delegated, or have officially been delegated.

Statistics show that 70% of all unemployed people in Israel during the third Coronavirus quarantine were women. The lack of symmetry between men and women in unemployment statistics has gotten worse over the pandemic.

One of the first stages of personal coaching is identifying personal goals. Not defining, but identifying. We don’t choose pretty words and decide those are our values only because they look good. Personal values are an inherent part of us.