What is your Elasticity ? C Suite Mentor

C Suite Mentor – What is your Elasticity ? April 27, 2014 17 1 Liker0 Comments inShare 3 Defining Elasticity: A measure of a variable’s sensitivity to a change in another variable. In economics, elasticity refers the degree to which individuals (consumers/producers) change their demand/amount supplied in response to price or income changes. Calculated as: Investopedia explains Elasticity: Elasticity is used to assess the change in consumer demand as a result of a change in the good’s price. When the value is greater than 1, this suggests that the demand for the good/service is affected by the price, whereas a value that is less than 1 suggest that the demand is insensitive to price. Businesses often strive to sell/market products or services that are or seem inelastic in demand because doing so can mean that few customers will be lost as a result of price increases. The C Suite Players on one had must understand the Price, Demand and Elasticity as a part of their Commercial Acumen what I wish to discuss today is about a Behavior Elasticity. I like watching TV serials like ” The Practice” and “Boston Legal”. I come across many legal cases where in cases of homicide the Lawyers take a position describing the act as ‘Temporary insanity’ when the Accused “Snapped”. I refer to this state as Mental or behavioural Elasticity. This occurs to Executives at many points. Take the Annual Appraisal phase for one. One of my Mentees who was to go thru the Annual Appraisal process said to me that he’d like to discuss his future options very soon. He is a Top performer, quite a consistent one at that. My only suggestion was that ‘ Your Elastic is Stretched, Performance Stretch Bonus has stretched it further, don’t let it snap. You’ve come to me – I know the ‘Break Point’ – Let me provide “Two Palm support” at this break point and stop it from snapping with emotional support. Speak to me in a week’s time – if you still require a Decision making support and either you’ve let the Elastic rubber band of your behaviour snap or break or you still feel under tremendous pressure. In 99% of such cases, I know my mentees do not look for any Decision support from me. They do appreciate the emotional support – “the Two Palm support system” I tend to provide as mentor which is to help them counter their Temporary insanity moments being avoided in the short term. Which brings me to another point. ‘ Does Performance has a Lifecycle like a Product’s Life Cycle?’ While all organisations want only ‘Stars’ and consistent performers – I have sometimes felt in my working life that we fail to notice the ‘ Decline phase of the Performance Life Cycle phase soon enough’ and neither provide mentor support not provide the ‘ Two Palm support’ of a Mentor. Thus, most Key Performance Indicators are likely to become ‘Key Perishable Indicators’ for many executives including those in the C Suite :). Well ! That’s my theory and I am conscious that a ‘Theory is nothing but One man’s Opinion’ :), “A faerie heart is different from a human heart. Human hearts are elastic. They have room for all sorts of passions, and they can break and heal and love again and again. Faerie hearts are evolutionarily less sophisticated. They are small and hard, like tiny grains of sand. Our hearts are too small to love more than one person in a lifetime.” — Jodi Lynn Anderson (Tiger Lily) In order to Achieve ‘Sustainable’ Performance i.e. consistent High level of Performance and recognise the ‘Performance Life Cycle’ of ourselves or our juniors what should Elastic Leadership do? Elastic leadership is a word used by me here in team context. Its about leading a team differently, based on your discovery of the Team’s Performance Life Cycle Stage. These phases can change from day to day or week to week. Establishing right measures can help us keep adapting to the new phase, or we will keep them at ‘BreakPoint’ constantly. Elastic Leadership is about transforming the Team. From chaotic results to learning and moving From learning to self-leading phases quickly. “When a great truth once gets abroad in the world, no power on earth can imprison it, or prescribe its limits, or suppress it. It is bound to go on till it becomes the thought of the world.” —Frederick Douglass “Boys are like elastic bands. It doesn’t mean that boys are made of elastic, which is a plus because nobody wants a boyfriend made out of rubber. On the other hand, if they were made out of rubber, you could save yourself a lot of time and effort and heartache by just rustling one up out of a car tire. Boys are different from girls. Girls like to be cozy all the time but boys don’t. First of all, they like to get all close to you like a coiled-up rubber band, but after a while, they get fed up with being too coiled and need to stretch away to their full stretchiness. Then, after a bit of on-their-own strategy, they ping back to be close to you. So in conclusion on the boy front, you have to play hard to get and also let them be elastic bands.” — Louise Rennison (On the Bright Side, I’m Now the Girlfriend of a Sex God (Confessions of Georgia Nicolson, #2)) Thank you for being patient and reading. 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