THE ART OF GIVING AND RECEIVING ADVICE

THE ART OF GIVING AND RECEIVING ADVICEPRESENTED BY : PRIYA KAUSHALWILLIAM LEES ADVICE ON ADVICINGStyle of advising : I try to understand what the other person faces and provide guidance that makes sense from that perspective.Qualities of a good adviser : Someone who is open and candid. Someone who gives advice that people can act on.Importance of listening : listening facilitates guidance, i.e. to ask questions that allow people to reach conclusions themselves.Toughest experience : to advise his second chair to join some other firm which would best suit his skills.OUTLINE OF THE PRESENTATIONINTRODUCTIONWHY IS IT HARDER THAN IT LOOKS??BEST PRACTICES TO FOLLOW FOR SUCCESSFUL ADVISING.BEST ADVICE FROM THE CEOs.

INTRODUCTIONSeeking and giving advice are central to effective leadership and decision making.Yet managers seldom view them as practical skills they can learn and improve.When the exchange is done well, people on both sides of the table benefit. The skills for effective advising are assumed to emerge organically, theyre rarely taughtBut the researcher found that they can be learned and applied to great effect.This study focused on situations that involve big, risky, or emotionally charged decisions TYPES OF ADVICETYPES OF ADVICEACTIVITIESDESIRED OUTCOMEDISCRETE ADVICEEXPLORING OPTIONS FOR SINGLE DECISIONRECOMMENDATIONS IN FAVOUR OF OR AGAINST SPECIFIC OPTIONSCOUNSELPROVIDING GUIDANCE ON HOW TO APPROACH A COMPLEX OR UNFAMILIAR SITUATIONA FRAMEWORK OR PROCESS FOR UNDERSTANDING AND NAVIGATING THAT SOLUTIONCOACHINGENHANCING SKILLS SELF AWARENESS AND SELF MANAGEMENTTASK PROFICIENCY; PERSONAL AND PROFESSIONAL DEVELOPMENTMENTORINGPROVIDING OPPORTUNITIES, GUIDANCE AND PROTECTION TO AID CAREER SUCESSA RELATIONSHIP DEDICATED TO BUILDING AND SUSTAINING PROFESSIONAL AND PERSONAL EFFECTIVENESSWHY THIS IS HARDER THAN IT LOOKS??One reason theyre so common is that theyre basicpeople often dont realize theyre getting tripped upso you may find it helpful to do a reality check of your behavior against these lists.Flawed logic and limited information complicate the processADVICE SEEKERSTHINKING YOU ALREADY HAVE THE ANSWERSplace too much faith in their intuitionThe result is overconfidence and a tendency to default to solo decision making on the basis of prior knowledge and assumptions.A related tendency is to ask for advice when ones real goal is to gain validation or praise.If a man will begin with certainties, he shall end in doubts; but if he will be content to begin with doubts, he shall end in certainties.Francis Bacon,The Advancement Of Learning.ADVICE SEEKERSCHOOSING THE WRONG ADVISERSdecision makers stack the deck by turning to likeminded advisers.several field studies confirm that advice seekers are more receptive to guidance from friends or other likable people.Seekers also fail to think creatively enough about the expertise they need.

ADVICE SEEKERSDEFINING THE PROBLEM POORLYbecause of imprecise or ineffective communication, and sometimes because of cognitive or emotional blinders.DISCOUNTING ADVICETheir most common mistake is to undervalue or dismiss it. Reason: egocentric bias, putting more stock in their own opinions than in others views.

ADVICE SEEKERSMISJUDGING THE QUALITY OF ADVICEResearch shows that they value advice more if it comes from a confident source, even though confidence doesnt signal validity.Conversely, seekers tend to assume that advice is off-base when it comes from people with whom theyve had frequent discord.Seekers also dont embrace advice when advisers disagree among themselves.Adapt what is useful, reject what is useless, and add what is specifically your own.Bruce LeeADVICE GIVERSOVERSTEPPING BOUNDARIESunsolicited adviceto chime in when theyre not qualified to do so.MISDIAGNOSING THE PROBLEMthey may define the problem prematurely.they sometimes forget that seekers are self-interested parties who maydeliberately or notpresent partial or biased accounts.ADVICE GIVERSOFFERING SELF CENTERED GUIDANCEThis approach is both off-putting and ineffective.Advisers may also share personal stories and experiences that fail the doability test.COMMUNICATING ADVICE POORLYAdvisers may provide vague recommendations that can easily be misconstrued.they may use jargon or other inaccessible language.Nothing causes paralysis like a laundry list of options with no explicit guidance on where to start or how to work through and winnow the list.ADVICE GIVERSMISHANDLING THE AFTERMATHMany advisers take offense when their guidance isnt accepted wholesale.More often they modify the advice, combine it with feedback from others, or reject it altogether.

BEST PRACTICES TO FOLLOW FOR SEEKERS AND ADVISERS BEST PRACTICES TO FOLLOW FOR SEEKERS AND ADVISERS STEP 1: FINDING THE RIGHT FITIF YOU ARE A SEEKER :Have a preexisting board of diverse, complimentary advisers.Determine what type of advise you are seeking.Choose the advisers who fit your current needs.IF YOU ARE AN ADVISERAssess your fit.Identify other potential sources of guidanceWHAT ADVISERS CAN DO?

STEP 2: DEVELOPING A SHARED UNDERTSANDINGIF YOU ARE A SEEKERProvide just information about the problem.Acknowledge uncomfortable truths.IF YOU ARE AN ADVISERSet the stage for effective advising.Listen effectively and suspend judgmentAsk open ended questions to broaden understanding.

STEP 3: CRAFTING ALTERNATIVESIF YOU ARE SEEKERContribute actively to the development of options.Ask questions to understand.IF YOU ARE AN ADVISERArticulate your role as providing guidance and not taking decision.Push to generate several viable choices.Spell out the rationale, personal experience and principles behind your advice.

STEP 4: CONVERGING ON A DECISIONIF YOU ARE A SEEKERBeware of uncritical or dismissive reflexes.Consider soliciting second or a third opinion.Develop hybrid solutions.IF YOU ARE AN ADVISERDont jump quickly to a solution.Go wisely and slowly. Those who rush stumble and fall.William ShakespearePause frequently for a reaction.STEP 5: PUTTING IT INTO ACTIONIF YOU ARE A SEEKERBe sensitive and flexible to any mid-course action.IF YOU ARE AN ADVISERReaffirm that the decision and consequences are the seekers.Convey your availability for further clarification or reaction.

SECRET TO SUCCESSWARREN BUFFET Chairman and CEOBerkshire HathawayAdvice for young women: You do the same thing a male will do. You follow your passions. You find something you love. The truth is, so few people really jump on their jobs, you really will stand out more than you think. You will get noticed if you really go for it.

Weve gathered wisdom from those who have rocketed up the corporate ladder and helped others climb with them. Here, some valuable lessons on how to lead well, achieve more, and have fun doing it.23SECRET TO SUCCESSMEG WHITMAN: Chairman, President and CEOHewlett-Packard Be clear what matters most. And what matters most is your family.My advice to young people is if you find yourself in a company where youre being asked to do something that you dont think is right or youre feeling uncomfortable, run, do not walk, for the doors.

SECRET FOR SUCCESSINDRA NOOYI: Chairman and CEOPepsiCoConventional wisdom suggests that its easier to take the path of least resistance by signing up for an easy job, doing it well, and moving on to something bigger. The problem with that theory is that nobody notices when you do an easy job well.Never stop learning.

SECRET TO SUCCESSANDREW LIVERIS: Chairman, President and CEODow Chemical.I received the following advice from an older Chinese businessman in Hong Kong: There are three pillars to society: the rule of law, the rule of logic, and the rule of relationships.People can be bought with their pockets and they can be stimulated with their brains. But only if you win their hearts will they give you their fullest efforts driven by their passions.

SECRET TO SUCCESSLLOYD BLANKFEIN: Chairman and CEOGoldman SachsYou owe it to yourself to open up to broader interests. And in the end, it will be better for your career because you will be more interesting and attractive to others.

SECRET FOR SUCCESSFRANCISCO D'SOUZA: CEOCognizant.In our careers, we should apply a simple test when making important decisions. If this were on the front page of the newspaper tomorrow, would your mom and dad be proud of you?In a world of scarcity, the critical skill is to maximize opportunities.

SECRET FOR SUCCESSGINNI ROMETTY: Chairman, President and CEOIBMNever protect the past. If you never protect the past, I think ...you will be willing to never love [it] so much [that] you wont let it go, either.