Bloomberg's Internal Resources: Career Development Insights from Bloomberg by Bloomberg, Papers of School management&administration

Download Bloomberg's Internal Resources: Career Development Insights from Bloomberg by Bloomberg and more Papers School management&administration in PDF only on Docsity! Inside Focus Bloomber g By Lenarcic March 16, 2004 Issue 1 Volume 2 Internal Resources as an element of Career Development Lenarcic Press Inc. What is Bloomberg Selling? Lessons in Internal Resources in Career Development -Neal Lenarcic St. Louis- Without a doubt Bloomberg is selling something in his autobiographical work, “Bloomberg by Bloomberg”. The central theme throughout the work deals with Bloomberg’s fortunate, forced career change that enables him to envision and build the “world’s greatest” business information system and network. The eternal salesmanship is annoying, alas offers an excellent impression on career development, especially in regards to Internal Resources. In the beginning at Goldman and Salomon Brothers, flaunting his Harvard MBA, Bloomberg was desperately attempting to achieve self acceptance and positive relations from his peers and supervisors. This is a natural step for those early into a career. Fulfilling the internal desire to fit in and acquire approval from the establishment provides us with crucial, small confirmations about the career path we have chosen and our adequacy. When let go from Salomon and at the end of the book – transitioning to his eventual transfer to politics, Bloomberg expresses feelings of mastery and the desire to pursue more challenging arenas and areas of personal growth. SEE SELL page 2 Entrepreneursh ip and Creativity Kansas City- “…you need a vision,…then go for it!” Words to live by for a true entrepreneur. Entrepreneurs can be identified in any career or field. It is an internal resource intrinsic to all of us in varying degrees. How people act on their entrepreneurial spirit is highly determined by their external conditions (but that is for another case study). Some of the spirit is influenced by one’s aspiration for blazing new trails or seeking autonomy or “being your own boss”. Concurrently, this spirit is spawned by and inevitably enhanced by creativity. SEE pg 2 Formative Influences Abilities Motivation/Aspiration Health and Well Being $2.50 US Motivation and Aspiration in Careers -Wire Services compiled by Lenarcic Michael Bloomberg’s insight into tapping into the internal resources of each and every one of us was quite motivating. Bloomberg states that beyond the small basis on which each of us begin with, at highly discrepant levels, each of us controls the fate of those inert abilities and resources. Intrinsic motivation and extraordinary work ethic are the keys to success in any venture. Albeit, a success may occur after a multiple of failures, but success is dependent on one’s work ethic, the one’s you associate with, and luck. These are important elements all leaders and those who follow should remember. Each of use posses different variations of the multiple intelligences proscribed by Gardner and the elements of the triarchic intelligence promoted by Sternberg. These intelligences are little use unless they are used to their fullest potential. If someone were inherited with any less of those intelligences, they should not simply throw up their hands and give in. Bloomberg instills this in two primary manners. One, and the most prevalent, is his ‘life by example” CONTINUED ON PAGE 2 Neal Lenarcic, EAD 864 – Winter 2003 for Adult Career Development for Professor Weiland, Michigan State University MA of Education Page 2 Bloomb erg By Lenarcic SELL Throughout the rest of the book, Bloomberg sells himself (past, present and future) and his company(s). Primarily concentrating on his abilities as an omnipotent leader and visionary that has created an enterprise that should be in every trader’s desk, TV, radio, and computer screen. Anything less to him would be sacra religious. He has built a religion of his own within his organization about Mike, for Mike, and always Mike. Internal drives of personal power and mastery requires an egocen- trical person that is wiling to give up the full comforts of family. Bloomberg stresses that family is important, influenced by his mother, but finding and maintaining that meaning in his life takes a backseat to everything else that is about him: work, prestige, power, money, and well being. Bloomberg is selling his enterprise in ”Bloomberg by Bloomberg” , but he is selling himself more. CREATIVITY Creativity is the fuel that sparks our curiosity; gets us to envision things differently; be spontaneous; and wish to keep things unique or dynamic. If entrepreneurs or leaders were proportionally more copasetic with the status quo, then little in careers or the whole would change and/or improve. Consistently problem-solving on how to improve the world around us is a crucial evolutionary innate trait that moves us thru our world. Bloomberg’s employees are loyal and express well being because according to Bloomberg, they are encouraged to take risks and be creative. This intellectual freedom to create drives his employees to push themselves farther and wider. This system keeps a career or even a routine job from becoming mundane. The quest to continuously solve and create puts the employee in control, to a point. Bloomberg has the right balance. Aggressively encouraging creativity and problem solving, simultaneously keeping his employees incredible happy and loyal. In this system, Bloomberg can tap into those innate entrepreneurial tendencies of his employees and reap all the benefits for himself. This intellectual control is noted when he mentions how his employees rarely, if ever, leave to work for a competitor or themselves. He was adamant about how he will never hire back an employee who attempted to enter other fields or corporations. Allowing anyone the freedom to return goes against his system of undying loyalty and intellectual control. Whether in business, education, or any other enterprise, creativity and entrepreneurialship are two cornerstones of the internal resources of career development we all inhibit. MOTIVATE Model. He can definitely not be considered a hypocrite when in comes to demonstrating how work ethic, motivation, and luck can override other nature related qualities. Nevertheless, Bloomberg did not start off with a bad “hand” dealt by nature, but he did make the most of his dealings. The second method is by motivating and inspiring others to share his vision and work ethic. I felt motivated personally from the book. Bloomberg Advertisement