From Nikkei Asia Review – ” Greece closed its banks and imposed capital controls on Sunday to check the growing strains on its crippled financial system, bringing the prospect of being forced out of the euro into plain sight. After bailout talks between the leftwing government and foreign lenders broke down at the weekend, the European Central Bank froze vital funding support to Greece’s banks, leaving Athens with little choice but to shut down the system to keep the banks from collapsing. Banks will be closed and the stock market shut all week, and there will be a daily 60 euro limit on cash withdrawals from cash machines, which will reopen on Tuesday. Capital controls are likely to last for many months at least.”
Fresh Pick of the Day, June 29, 2015: “Greece to introduce capital controls” from Nikkei Asia Review
From Business Rhythm with Frank and Jamie – A leader’s job is to make tough decisions. CEOs of large organizations spend their day thinking about and making decisions that affect the future of the organization. From the outside, they appear calm and confident in the decisions they make. However, as leaders know from experience, making the right decisions can be elusive and much more difficult from what it seems.
From Business Rhythm with Frank and Jamie – “When unexpected things happen, leaders may find themselves in a situation where it is difficult to break custom and go out of their way to deal with issues. In the meantime, the organization needs to urgently address these unexpected things; otherwise, the organization may stall and not move forward to the direction that it should go. Under these circumstances, someone needs to fill in the void of leadership. Now – the person who steps up, owns the problem, and takes charge of the situation is one who exercises leadership regardless of the formal title.”
From Fast Company- The companies that overcame hard times are Apple, General Motors, Marvel, Delta, Starbucks, Old Spice, J Crew, CBS, Pabst Blue Ribbon, Nintendo, Converse, Netflix, Disney Animation, Burberry, Lego, Target, Lacoste, Lower Manhattan and Bacon….
From Knowledge@Wharton – “With 610 million people, the 10-member Association of Southeast Asian Nations, or ASEAN, is less than half the size of China’s market, but the region’s quicklygrowing — and relatively big spending — middle class has become increasingly attractive to multinationals and foreign investors. The ASEAN bloc — which includes Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam — is nudging Chinese manufacturers aside as China’s labor force begins to shrink and wages rise. Moreover, the planned launch of the ASEAN Economic Community (AEC) at the end of 2015 is likely to help sustain rapid economic growth in the medium term, analysts say.”
From Business Mango with Frank and Jamie – Leaders need to properly deal with three critical issues to foster collaboration
From Fast Company – “Designing a thoughtful office culture is one of the most important frameworks to devise when building up or revamping a company. The right tone and environment can improve employee productivity and happiness tenfold. The wrong one can sabotage your goals. The biggest mistake a workplace leader can make with office culture is failing to devise one at all. How do you know if your office culture is helping, or hurting, your employees, and as a result your bottom line?”
From Business Rhythm with Frank and Jamie – In a distributive negotiation, one person’s gain is another person’s loss. Examples are negotiations between buyer and seller over price of a product or service and employer and employee over salary pay. Each party is attempting to maximize his/her share of the pie. In most cases, however, parties generally do not know exactly how large the “pie” actually is.