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Coaching vs. Mentoring

Coaching vs. Mentoring

Both mentoring and coaching take place independently of line managers – they are open, honest relationships between the mentor or coach and their protégé. A mentor or coach is an ‘accountability partner’ who works in their protégé’s best interests. However, they also differ in certain ways. Mentoring entails informal communication, usually face-to-face and during a sustained period of time, between a person who is perceived to have greater relevant knowledge, wisdom, or experience (the mentor) and a person who is perceived to have less (the protégé)”. The person in receipt of mentorship may be referred to as a protégé (male), a protégée (female), an apprentice or, in recent years, a mentee. (Source: Wikipedia) However, an executive coaching engagement is formal and not necessarily face-to-face all the time. Also, the coach need not necessarily have greater relevant knowledge, or domain skills. A coach provides undivided one-on-one attention, questions, and challenges the coachee to expand his/her thinking. These interactive sessions generating no holds barred discussions with the coach result in improved self-awareness; at the same time, active listening, understanding and encouragement from the coach help the coachees constantly raise the bar for themselves. Overall such an engagement helps a coachee get clarity, discover answers, pursue own goals, and thus achieve self-transformation for a more successful career and a happier life. According to Chartered Institute of Management Accountants (CIMA), The Mentor is a facilitator who works with either an individual or a group of people over an extended time period. The agenda is open and continues to evolve over the longer term. In Coaching, the focus is on meeting very specific objectives... read more
Impact of Improved Thinking

Impact of Improved Thinking

According to International Coach Federation, the vast majority of companies (86%) say they at least made their investment back. As David Rock has rightly said, coaching facilitates positive change by improved thinking. The promise of executive coaching is not so much to offer instant, ready-made solutions, but rather to foster learning and change. Focused on development of people for the next level, executive coaching helps high-potential professionals identify and address their blind spots through self-directed learning. A coach facilitates transformation with clarity for forward action, setting of crystal clear goals and measurement of progress, while gracefully holding the coachee accountable for their development. Benefits of Coaching Professional coaching brings many wonderful benefits: fresh perspectives on personal challenges, enhanced decision-making skills, greater interpersonal effectiveness, and increased confidence. And, the list does not end there. Those who undertake coaching also can expect appreciable improvement in productivity, satisfaction with life and work, and the attainment of relevant goals. (Source: International Coach Federation) Executive coaches work their clients towards specific professional goals. These include career transition, interpersonal and professional communication, performance management, organizational effectiveness, managing career and personal changes, developing executive presence, enhancing strategic thinking, dealing effectively with conflict, and building an effective team within an organization. A typical executive engagement includes – Need analysis and planning Contract finalization Setting of three inspiring and challenging goals Ensuring that the goals are clear, realistic, accurate, focused and time-bound Coaching sessions Conclusion / reports “The goal of coaching is the goal of good management: to make the most of an organization’s valuable resources.” – Harvard Business... read more
Corporate Governance

Corporate Governance

“Ethics is the new competitive environment.” – Peter Robinson, CEO, Mountain Equipment Co-op. While Corporate Governance can be simply defined as “the way a particular company is managed”, a drill-down opens up a plethora of do’s and don’ts that business leaders must be aware of at all times. To avoid human errors that can severely damage the reputation, corporations implement system by which they are directed and controlled. But still, mistakes happen – deliberate, or sometimes due to ignorance. In either case, the consequences can be grave. Hence, it is becoming increasing critical for every corporate leader to place values, ethics, systems & processes, and transparency above everything else. Governance involves the alignment of interests among the stakeholders. A series of large-scale corporate frauds around the world have led to several legislations on corporate governance. For instance – CLERP 9 in Australia (Corporate Law Economic Reform Program) Sarbanes–Oxley Act in the US OECD‘s internationally agreed benchmark consists of more than fifty distinct disclosure items across these five broad categories. Auditing Board and management structure and process Corporate responsibility and compliance Financial transparency and information disclosure Ownership structure and exercise of control rights In India, SEBI has defined Corporate Governance as the “acceptance by management of the inalienable rights of shareholders as the true owners of the corporation and of their own role as trustees on behalf of the shareholders. It is about commitment to values, about ethical business conduct and about making a distinction between personal & corporate funds in the management of a company.” Voluntary Guidelines for Companies in India (having paid-up capital of 10 crores or more than 100 members) A functional website is... read more
Who needs coaching?

Who needs coaching?

“Who exactly seeks out a coach? Winners who want more out of life.” ― Chicago Tribune   Coaching might be appropriate for: Senior managers who are unlikely to benefit from conventional training courses. Managers who need the space to develop or improve new or existing skills. Those on a ‘fast track’ career programme. Staff who need to focus more on their career paths. Managers who have reached a career plateau and want to progress, but don’t know how to. Anybody developing a new career. Staff or managers who want to change career direction. Employees returning to work after a career break. Staff wanting to improve their skills and abilities. Individuals who respond better to alternative learning methods. Mentors and coaches themselves. Staff or managers working through difficult issues. Source: Chartered Institute of Management Accountants (CIMA) “Many of the World’s most admired corporations, from GE to Goldman Sachs, invest in coaching. Annual spending on coaching in the US is estimated at roughly $1 Billion Dollars.” ― Harvard Business... read more

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