Helping others can be a significant source of wellbeing as Chris Budd talks about in ‘The Financial Wellbeing Book.’ Here’s an extract from the bookÂ to help you understand your approach to giving back.
Whether this comes from helping a friend in need, offering some of your time to a sports club or charity, or making financial donations, we all have our own charitable trust. In order to maximise the wellbeing from your giving, it is worth taking a few moments to consider your approach to philanthropy.
Here are a few factors you may wish to take into account:
- Greater wellbeing comes from planned, rather than reactive, giving. This is because planned giving can be joyous feeling of helping others, whereas reactive giving is often fuelled by feelings of guilt.
- Donors most often give in an ad-hoc way, but prefer committed giving via direct debit.
- Three in five donors pay close or extremely close attention to how their donation will be used. A personal connection is also often very influential. It seems wellbeing can be derived from seeing the effect of the donation.
- The very fact of giving creates wellbeing, independent of the worthiness of the cause. Removing feelings of dependence on a sum of money can be liberating.
- As wealth accumulates, there often comes a time when individuals have a moment of revelation when they realise their true relationship with money. This can result in a change in priorities and an increase in philanthropy.
- Giving is not just for the weather. Wellbeing can be derived from donations that involve sacrifice just as much, possibly more, as donations from surplus.
A key part of wellbeing is having a sense of purpose in life. Philanthropy can be food for your soul, whether it’s the giving of money or the giving of time. For some individuals, this act can create a sense of having found the thing they are destined to do.
Perform to Win, a uniquely written business novel byÂ Dr Mark Powell and Jonathan Gifford explores how top performing artists work to create outstanding performances and how this can be used in our everyday business and personal lives. To read the first chapter for free click here.
Listen toÂ Mark and Jonathan discuss how performing arts can enhance businesses and transform teams for the betterÂ here.
Javier Sanchez Lamelas, CEO and Founder of Topline Marketing,Â in his book Martketing: The Heart and The Brain of Branding reveals his approach for choosing talent. Here are a few key points from the book as a teaser.
We tend to chose employees because of their attitude, which includes leadership, organisational fit, management style, commitment, loyalty and many other skills. We want people to come to work with their brains and their hands. Both. In other words, having the right attitude to think and do. But we also want them to bring their hearts…the ability to run the extra mile. And yes, it is better to hire people with big hearts. Never forget that motivating people to give their best is a manager’s job. As Napoleon said: “A leader is a dealer in hope.”
We’ve taken out an extract from Keiron Sparrowhawk‘s book, ‘Executive Function: Cognitive Fitness For Business‘ which explains the role of Â the working memory in leadership and management.
What is working memory?
Working memory is the ‘workspace’ in your mind. This is where you store relevant information that you can return to during the course of a mental comprehension or arithmetic activity. It is your ability to make decisions and solve problems.
Working memory allows you to comprehend complex reports, presentations, and financial accounts. A strong working memory is able to hold information, mentally manipulate it over a short time period, and to undertake continuous iterations of that process until you come to a conclusion or a decision with which you are comfortable.
We’re very proud to announce that LID author, Nicklas Bergman who wrote the book,Â Surviving the Tech Storm has been awarded “International Speaker of the year” in Finland by the Speakers Forum, Finland.
He has spent the last 20+ years working as a serial entrepreneur and investor focusing on emerging markets and technologies. With vast experience from navigating through turbulent and uncertain technology environments, he is the perfect guide when you are trying to understand the tech forecast for the future.
He is the co-founder and largest investor in a number of different companies to include:
â€˘ The Volvo trucks and buses distribution network in Romania, that grew into a 300 MUSD business and was acquired by Volvo Corp. in 2006.
â€˘ An electron microscopy company with a unique patented technology for movement and interaction on the atomic scale. With close to 150 high-profile customers world-wide, the technology was acquired by FEI in 2013.
â€˘ A Scandinavian ski resort development that has attracted investments of close to 100 MUSD in the past 7 years, and invigorated a whole region in the north of Sweden.
Nicklas Bergman is also Scandinavian advisor to the TechCast Technology Think Tank in Washington DC, and here he is trying to understand where we are heading, and if society will be able to handle the upcoming technology revolution. Further, as part of an emerging research project at Lund University in Sweden, Nicklas Bergman is focusing on humankindâ€™s relationship to technology and technological development, and more specific on the business implications of multi-disciplinary and transformative emerging technologies in the coming 5 to 50 years.
Nicklas Bergman is the perfectÂ guide to the future of business and technology through his entrepreneurial endeavors, technology investments and ongoing research project.
As a speaker he takes a holistic approach, trying to understand and communicate not only what we might expect from a technological perspective, but also how this possible future and technological development will affect us as individuals, corporations and society as a whole. He takes pride in customizing his talks to his audiences and present credible facts in an entertaining manner, always with the goal to surprise and provide insights as well as useful tools.
WatchÂ the expert in action at the Speakers Forum 2016 Gala:
The success of companies like IBM and Microsoft can be attributed more to management than technology. Some companies have failed even though they were better than Huawei. They failed because they did not pay attention to management. Management is something that cannot be bought with money. (Ren Zhengfei: Speech at the CIMS System Report Meeting of the Management Engineering Business Department, 1997)
What counts as a contribution? it’s not only about doing a job: debuting, programming, or whatever. Managing a job is also contribution; as a matter of fact, it has even broader and deeper implications. In a team, there must be someone who acts as the organizer or manager. Does an organizer or manager necessarily contribute less than an ordinary employee? Definitely not. In principle, an organizer contributes more than those who do the actual work. Of course, there are instances where a small number of experts can contribute more than a manger. However, most experts should be placed under managers. (Ren Zhengfei: Speech Before the Appointment of New R&D Managers, 1997)
The most obvious characteristic of Huawei’s transformation from the start-up phase to the growth phase is strengthening management and developing professional managers. In our growth phase, we aim to strengthen management. This will provide you with great opportunities. (Ren Zhengfei: Fitting in the Team and Developing Together, 1997)
For more insights into Huawei’s valuable practises read Dedication.
Oke Eleazu, author of The Cult of Service Excellence will be speaking at Customer Contact Week 2017 next Tuesday at the Novotel London West. In his keynote Oke will talk about why customer experience is at the core of digital disruption!
Oke will also be doing a book signing so to meet the expert in person and take away your own copy please do come and find us!
Here’s a taster from the event last year:
China’s economic rise and influence has been one of the most significant developments in the global economy of recent times. Last night we celebrated the launch of our new China’s Entrepreneurs Series which takes a close look at the major contribution to this development made by China’s leading private entrepreneurs and companies. The series covers Ren Zhengfei & Huawei, Dong Mingzhu & Gree, Jack Ma & Alibaba, Ma Huateng & Tencent and Wang Jianlin & Dalian Wanda.
The event last night which took place at the beautiful St Paul’s Roof Pavilion at the South Bank CentreÂ kicked off with food and drinks, followed by an introduction by Martin Liu, General Manager at LID Publishing, who welcomedÂ Jiang Jun, Vice President of China Publishing House to the stage for a few words. We then got straight to business with our panel discussion.
On our panel we had Â diverse pool of knowledge such as Professor Yi-Ke-Guo, Director of Data Science Institute at Imperial Collage London, Michael Jenkins, Chief Executive at Roffey Park, Dr Jun Li, Senior Lecturer of Management Science & Entrepreneurship at University of Essex, Grace Wang, China Economist at Chinese Business Social Network (CBSN) and Ben Walker, Editor of Dialogue Magazine, who chaired the discussion.
Everything from how societal and economic changes (locally and globally) over the past 10 years affected entrepreneurialism in China, theÂ role the background of leading Chinese entrepreneurs play in their willingness to strive for success, to the the key lessons that entrepreneurs from other territories should learn from the experiences of Chinese entrepreneurs and plenty more fruitful view points around the growinglyÂ intriguing subject were covered in great detail by our expert panel.
The discussion could have continued all night but like all good things the evening had to come to an end! We did however close up onÂ a sweet note withÂ a delicious chocolate pudding and more wine!
Stay tuned for The China’s Entrepreneurs Series out this summer. For more information on the series visit www.ChinaESeries.com
Our aim is to increase wellbeing-or avoid it being reduced. We can achieve this in relation to financial shocks:
- Avoiding them
- Preparing for them
- Understanding them
By definition, a financial shock is something that is beyond our control. As such, it is not just the shock itself, but also the worry that the shock might happen, that must just be addressed.
What could possible go wrong:
- Investment losses
- Changes in legislation (e.g. taxes)
The extent to which our worries about the future affect our wellbeing is different for everyone. In keeping with the principle in this book of “know thyself,’ it is important for you to think about what might go wrong and how you would possibly handle it.
This can be uncomfortable territory. It is not uncommon for people to avoid making a will because they do not like to think about their own mortality. Knowing that you are prepared for a financial shock, however, is more likely to improve your wellbeing.
So take the time to think about what might go wrong, put in place measures to reduce the impact of those shocks, and feel better knowing you won’t have to think about them again for some time!
The key to China’s economic growth lies in innovation, in enabling entrepreneurs to use new technologies and new models to achieve business transformation through equity financing- the most important catalyst for innovation.Â China’s internet driven business transformation is an extremely popular subject these days. Just like e-commerce in the retail industry, new technologies and new business models will subvert existing patterns in finance, healthcare, education, entertainment, energy, and other fields. Those who fail to meet customer demand, who stick with low efficiency, high transaction costs and over-regulation, risk being subsumed by innovation in there future.