Consistently Follow Your Principles
Groucho Marx one said, " Those are my
principles and if you don't like them, I have
others." Of all positions within a company,
the Credit Manager must always apply principles
of fairness, honesty and be consistent in
approach. The shortest path between a Credit
Managers desk and the back door is not a straight
line. It is when we waiver in our principles
and lose the trust of our business colleagues.
There is an old saying that applies; "Crooked
men and women and rivers both follow the path
of least resistance.
Take up the challenge and stick to your principles
in every business decision. Let your voice
be heard. We are not always the decision-makers
but we should always articulate what we believe.
Suggested reading on this topic is in the
November 24 edition of Newsweek. The cover
story is "Heiress in Handcuffs".
It is the story of Lea Fastow and her husband
Andy, two individuals at the heart of the
recent Enron scandal.
Be a Leader
A credit professional best serves his or her
company by being a leader. This applies whether
you manage a staff or are alone in your role.
Leaders inspire others in the organization
to do better.
Five elements of leadership come to mind:
· Project a positive attitude, particularly
in times of stress.
· Maintain a sense of urgency as you
are confronted with daily business issues.
· Have a steady commitment to excellence.
· Maintain a healthy discontent for
the way things are.
· Appreciate the awesome responsibilities
of leadership and earn the trust of those
around you.
I once had a boss that summed it up pretty
well. "Employees not fired with enthusiasm,
will be."
Knowledge
Knowledge is essential to both maintain your
principles and to be a leader. Take advantage
of professional training and information.
CMA members are already one step ahead through
participation in trade groups, professional
certification programs and Webinars.
Did you ever wonder the meaning of "aggregate
excess"? Have you been asked by your
manager to explain factoring? Do you know
the meaning and importance of a "Certificate
of Origin"? How about the criteria best
used to detect credit fraud? All these topics
are covered on Anscers in the Encyclopedia
of Credit. Only a mouse click away. Use these
resources to develop the knowledge you need
to best serve yourself and your company.
Be an Innovator
It seems old hat now to say the only consistency
in our business lives is change. This is truer
today than ever. Changes are occurring today
radically influencing how we do business tomorrow.
Don't be intimidated by change. Use it as
an opportunity. Take risks. Help your company
evolve as an effective service or product
provider within its competitive environment.
As always it can not be emphasized
enough how by taking advantage of "your"
professional association, the CMA, you can
be successful in accomplishing these things.
CMA Board and staff are here to help you on
your way.
