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<h2></h2><ul class="summary-list"><li>Newly-appointed managers may feel lacking in <keyword id="11893566" type="UNKNOWN" weightage="60" keywordseo="leadership" source="Orion">leadership</keyword> experience and training. </li><li>It's up to managers to get to know their reportees individually as well as establish clear team goals.</li></ul>Making the leap from individual <keyword id="12135632" type="UNKNOWN" weightage="60" keywordseo="contributor" source="Orion">contributor</keyword> to manager can be fraught: for the new manager, their direct reports, and the organization as a whole.New managers tend to rise into their position based on past success. But few have the experience or training to effectively manage a high-performing team.This is a huge problem for organizations large and small, according <a href="https://www.kellogg.northwestern.edu/faculty/directory/king_stephen.aspx">Steve King</a>, an adjunct professor of executive education at Kellogg and former executive vice president of human resources at Hewitt Associates, where he oversaw HR for the firm's 25,000 associates."Senior executives count on frontline managers to make things happen," King said. After all, the vast majority of a firm's employees report into frontline or middle managers, not those at the top of the organization. Yet, executives often overlook frontline managers' need for clear guidance and direction about change efforts.Leaders often mistakenly presume that managers are already trained and proficient at rolling out changes with their teams - and that the benefits of the changes they are proposing are self-evident - so there is little need to explain or clarify things to managers and teams.In King's view, new managers need to master three critical skills to succeed in their roles.<h2>1. Know what kind of team you are leading</h2>Frontline managers need to understand whether their team is comprised primarily of individual contributors or whether it is highly collaborative. And then, they need to set goals accordingly."For example, <a href="https://www.teamusa.org/USA-Wrestling/Features/2015/June/09/Is-Wrestling-a-Team-or-Individual-Sport">a wrestling team</a> and a football team have a very different kind of team dynamics," King said. "They're both teams; they just need to be managed differently."Some sales leaders set revenue goals for each salesperson and offer financial incentives for their individual efforts. Others set team revenue goals and reward the team when they collectively hit their target. Neither approach is inherently more effective, but the team approach drives greater collaboration.Early in the pandemic, teams comprised of individual contributors were more nimble than highly collaborative teams because they had already established processes to work independently, come together as a group, and share information. Interdependent teams that relied on face-to-face interactions had to establish new ways to collaborate.But individualized teams require special attention, too. Many frontline managers fail to articulate what King calls "metagoals," or the shared goals among individual contributors. If individual contributors don't see their work in the context of the company's larger goals, it's easy for conflict to arise. It may also be a sign that the team … isn't really a team.King recalls a manager tasked with coordinating three groups to work together on a project. After a lot of pushback from the groups, the manager realized they had failed to define their common goal. This led to a robust conversation where all the parties concluded that there was no common goal."In the end, the groups needed to act independently on three different goals," King said. "They were, in fact, three separate teams. We're trained to think 'one organization, one goal,' but that isn't always true."<h2>2. Know how establish clear goals</h2>The promotion from individual contributor to manager often comes with a reality check: Managing teams means dealing with tough interpersonal dynamics, from trust issues to personality clashes to competing ambitions."Many managers mistake these conflicts for personality clashes," King said. "But more often than not, what presents as a relationship problem - people blaming one another, bad group dynamics in meetings - is the result of the manager failing to clarify the team's goals."Managers also have to ensure that team members understand the process for achieving these goals - and especially which team members are empowered to make which decisions. By clearly stating which team members can decide on a course of action ahead of time, managers preempt disagreements.Say, for example, two team members are tasked with handling a company's marketing initiative. If both people think they have the right to make decisions about the tone of the outreach emails, their manager has set up a situation where conflict can easily arise. Being clear about who holds the "decision right" will decrease the likelihood of conflict.King stresses that such alignment is especially key when the team's goals shift. Managers should explicitly state what has changed and the ways these changes will impact the team, as well as individuals."Teams have learned this lesson as we've grappled with Covid," King said. "Supply-chain issues have prompted changes in goals, which has meant changes in work processes and team-performance expectations."For example, if a revenue target shifts from $500,000 to $300,000, the manager can say, "'We have a new goal here. Let's talk as a group about how we're going to achieve it and what roles everyone is going to play in getting that done.'"With goals in flux and work processes being revisited, frontline managers need to dedicate time to identifying any stressors that might bubble up under the surface and disrupt team dynamics.<h2>3. Teams need feedback, too</h2>As customary as it is for managers to set clear, appropriate goals for their team members, those same managers often fail to provide regular, clear feedback to the team as a group. This is a missed opportunity for ensuring and advancing broader company goals - and for coaching the team on how it can achieve those goals.King recommends bringing your team members together quarterly to give them feedback on areas including how they are progressing toward their goals, how well they are handling changes to work processes, or how they might have more successfully collaborated on a project."When I managed teams, I used those moments to let team members share their feedback on team performance as well as feedback to me about my <keyword id="11905569" type="UNKNOWN" weightage="60" keywordseo="management" source="Orion">management</keyword> of the team," King said. "The same parameters about giving good feedback apply to groups as to individuals: Be clear, concise, and specific with your comments. And make sure to come prepared with examples and plans for improvement."Incorporating team feedback into routines is a straightforward way for managers to improve their effectiveness and keep their teams engaged. At a time of high employee turnover, keeping your team on the same page can help prevent the frustrations that may lead to individuals heading for the exits."Frontline managers are the foot soldiers of talent management in organizations," King said. "When managers get team management right, it's to both employees' and the organization's benefit."

3 tips for new managers to lead successfully without prior experience

<div class="image-container float_right" style="width:400px"><div class="image"><a href="http://www.stanford.edu/~wfsharpe/">Stanford</a>William Sharpe</div></div>Since the dawn of financial innovation, legendary gurus have always held the spotlight, as these individuals helped shape and develop the market we know today. Though their contributions are certainly significant, there is one group of sometimes overlooked individuals who have continually played a major role in the world of finance and economics: professors. And with the ETF industry continuing its rapid development and expansion, academics are getting on board [see <a href="http://etfdb.com/history-of-the-s-and-p-500/">Visual History Of The S&amp;P 500</a>].
These professors are reshaping the curriculum, teaching extensively about exchange-traded funds, which, until recently, were rarely covered in the coursework of many major universities. Some of the names on this list have even translated their academic theories into investment results, helping create some of the most intriguing <keyword id="46594" type="PERSON" weightage="60" keywordseo="ETFs">ETFs</keyword> out there. For those wondering who exactly is behind the ETF evolution, we highlight several well-accomplished ETF-friendly professors (in no particular order):
[If you're an ETF-friendly professor, <a href="http://etfdb.com/about/">drop us a line</a> and let us know a bit about your work; we'd be happy to add you to the list.]
<h3>1. K. Geert Rouwenhorst</h3>
In addition to being a professor, K. Geert Rouwenhorst is the deputy dean for the MBA curriculum at the Yale School of Management. His research spans a wide array of topics, including hedge fund strategies, commodity investments and the history of financial innovation. Professor Rouwenhorst is also the co-founder and director of research of SummerHaven Index Management LLC, a pioneer in the commodity indexes space [see <a href="http://etfdb.com/portfolios/energy-bull-etfdb-portfolio/" title="This portfolio is designed for investors who wish to construct a well rounded portfolio that is tilted towards the energy sector.">Energy Bull ETFdb Portfolio</a>].
<ul>
<li>University: Yale University</li>
<li>Specialties: International Finance and Asset Pricing</li>
<li>Academic Work: <a href="http://papers.ssrn.com/sol3/papers.cfm?abstract_id=560042">Facts and Fantasies about Commodity Futures</a></li>
</ul>
<h3>2. Robert Shiller<a href="http://etfdb.com/wp-content/uploads/2013/02/shiller-ps.jpg"></a></h3>
Robert Shiller is a professor of economics at Yale University and one of the creators of the Case-Shiller Index of U.S. house prices. There are now a number of financial instruments based on this index, including The Barclays ETN + Shiller CAPE ETN (<a href="http://etfdb.com/etf/CAPE/">CAPE</a>).
<ul>
<li>University: Yale University</li>
<li>Specialties: Behavioral Economics, Real Estate and Financial Markets.</li>
<li>Academic Work: <a href="http://aida.econ.yale.edu/~shiller/pubs/p0781.pdf">Arithmetic Repeat Sales Price Estimators</a></li>
</ul>
<h3>3. Andrew Lo<a href="http://etfdb.com/wp-content/uploads/2013/02/LoCasual.jpg"></a></h3>
Andrew Lo is a professor at MIT as well as the director of the MIT Laboratory for Financial Engineering. In 2009, Lo co-designed the quantitative model behind the Credit Suisse 130/30 Large-Cap Index, which is tracked by CSM [for Real Time Ratings on (<a href="/etf/CSM/realtime-rating/">CSM, A-</a>) and more try <a href="http://etfdb.com/members/join/">ETFdb Pro</a>].
<ul>
<li>University: MIT</li>
<li>Specialties: Financial Engineering, Econometrics, Financial Asset Pricing Models.</li>
<li>Academic Work: <a href="http://www.argentumlux.org/documents/13030.pdf">130/30: The New Long-Only</a></li>
</ul>
<h3>4. Jeremy Siegel<a href="http://etfdb.com/wp-content/uploads/2013/02/Siegel_E_20090603102151.jpg"></a></h3>
Jeremy Siegel is a professor of finance at the Warton School of the University of Pennsylvania and a Senior Investment Strategy Advisor at Wisdom Tree Investments, Inc. Siegel worked closely with Wisdom Tree to develop several dividend-focused exchange-traded funds.
<ul>
<li>University: University of Pennsylvania</li>
<li>Specialties: Financial Markets, Long-run Asset Returns and Macroeconomics.</li>
<li>Academic Work: <a href="http://www.jeremysiegel.com/index.cfm">www.JeremySiegel.com</a></li>
</ul>
<h3>5. Gary Gorton<a href="http://etfdb.com/wp-content/uploads/2013/02/10dd47b1.jpg"></a></h3>
Gary Gorton is a professor of finance at Yale School of Management and is currently a Research Associate of the National Bureau of Economic Research. Professor Gorton also worked with SummerHaven Index Management LLC, a pioneer in the commodity indexes space [also check out the <a href="http://etfdb.com/2013/etf-cheat-sheet-precious-metals/">ETF Cheat Sheet: Precious Metals</a>].
<ul>
<li>University: Yale University</li>
<li>Specialties: Stock Markets, Commodity Futures, Banking.</li>
<li>Academic Work: <a href="http://faculty.som.yale.edu/garygorton/documents/fundamentals_Jan2012_FINAL.pdf">The Fundamentals of Commodity Futures Returns</a></li>
</ul>
<h3>6. James A. DiLellio<a href="http://etfdb.com/wp-content/uploads/2013/02/26e84fe.jpg"></a></h3>
James DiLellio is a professor of decision sciences at the Graziadio School of Business Management at Pepperdine University. Professor DiLellio is an expert on portfolio management and has done extensive research on exchange-traded funds.
<ul>
<li>University: Pepperdine University</li>
<li>Specialties: Applied Mathematics, Computational Methods and Applied Statistics.</li>
<li>Academic Work: <a href="http://www.academyfinancial.org/09Conference/09Proceedings/(3C)%20DiLellio,%20Stanley.pdf">The Financial Planner, Exchange Traded Funds, and ETF Trading Strategies to Enhance Client Wealth Maximization</a></li>
</ul>
<h3>7. Darrol J. Stanley<a href="http://etfdb.com/wp-content/uploads/2013/02/stanley1.png"></a></h3>
Darrol Stanley is a professor of finance and accounting at Graziadio School of Business Management at Pepperdine University. Alongside his colleague James DiLellio, Professor Stanley has also provided key insight on the ETF industry, highlighting their performance relative to the broader equity markets [check out<a href="http://etfdb.com/2013/differentiating-dividend-etfs/"> Differentiating Dividend ETFs</a>].
<ul>
<li>University: Pepperdine University</li>
<li>Specialties: Valuing Corporations.</li>
<li>Academic Work: <a href="http://www.academyfinancial.org/09Conference/09Proceedings/(3C)%20DiLellio,%20Stanley.pdf">The Financial Planner, Exchange Traded Funds, and ETF Trading Strategies to Enhance Client Wealth Maximization</a></li>
</ul>
<h3>8. A. Seddik Meziani<a href="http://etfdb.com/wp-content/uploads/2013/02/meziani.jpg"></a></h3>
A. Seddik Meziani is the Department Chair and a professor of finance at the School of Business of Montclair State University. Meziani has written numerous books and publications on exchange-traded funds, including the well-known books “Exchange-Traded Funds as an Investment Option” and “Exchange-Traded Funds-Conceptual and Practical Investment Approaches.”
<ul>
<li>University: Montclair State University</li>
<li>Specialties: ETFs, Portfolio Investment Strategy, Micro Cap Stocks.</li>
<li>Academic Work: <a href="http://riskbooks.com/exchange-traded-funds">Exchange Traded Funds</a></li>
</ul>
<h3>9. Pankaj “Pank” Agrrawal<a href="http://etfdb.com/wp-content/uploads/2013/02/Pank_tie_2007.jpg"></a></h3>
Pankaj Agrrawal is a professor of finance at University of Maine and is the Founder and President of <a href="http://advancedportfoliosolutions.com/index.html">Advanced Portfolio Solutions</a>. Professor Agrrawal’s research primarily focuses on analyzing the performance of long-short ETFs.
<ul>
<li>University: University of Maine</li>
<li>Specialties: ETFs, Portfolio Investment Strategy, Quantitative Analysis.</li>
<li>Academic Work: <a href="http://www.iijournals.com/doi/abs/10.3905/ETF.2009.2009.1.059">Determinants of ETF Liquidity in the Secondary Market: A Five Factor Ranking Algorithm</a></li>
</ul>
<h3>10. Zvi Bodie<a href="http://etfdb.com/wp-content/uploads/2013/02/Zvi-Bodie.jpg"></a></h3>
Zvi Bodie ia a professor of management at Boston University and is a consultant at Pension Benefit Guaranty Corporation. He is best know for his textbooks and publications on pension finance and investment strategy [for career and investing tips, check out <a href="http://www.dividend.com/career/">Dividend.com</a>].
<ul>
<li>University: Boston University</li>
<li>Specialties: Investment Management, Finacial Literacy, Pension Finance and Financial System Design.</li>
<li>Academic Work: <a href="http://smgapps.bu.edu/smgnet/Personal/Faculty/Publication/pubUploads/WP2005-28.pdf?did=550&amp;Filename=WP2005-28.pdf">On the Time Dimension of Personal Investing</a></li>
</ul>
<h3>11. K.J. Martijn Cremers<a href="http://etfdb.com/wp-content/uploads/2013/02/mcremers_150x150.jpg"></a></h3>
K.J. Martijn Cremers is a professor of finance at the University of Notre Dame and is the Associate Editor of the Review of Financial Studies and at the Review of Finance. Professor Cremers introduced a new measure of active management the “Active Share,” which has become widely used in the financial industry.
<ul>
<li>University: University of Notre Dame</li>
<li>Specialties: Empirical Asset Pricing, Corporate Governance, Investment Management.</li>
<li>Academic Work: <a href="http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1830207">The Mutual Fund Industry Worldwide: Explict and Clost Indexing, Fees, and Performance</a></li>
</ul>
<h3>12. Miffre Joelle<a href="http://etfdb.com/wp-content/uploads/2013/02/miffre_joelle_185.jpg"></a></h3>
Miffre Joell is a professor of finance at the EDHEC Business School in France. Her research focuses on the management and pricing of commodities and equities, and her work has been featured in a number of academic journals.
<ul>
<li>University: EDHEC Business School</li>
<li>Specialties: Commodities and Investment Management.</li>
<li>Academic Work: <a href="http://faculty-research.edhec.com/servlet/com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1328885973208">Country-Specific ETFs: An Efficient Approach to Global Asset Allocation</a></li>
</ul>
<h3>13. Marco Avellaneda<a href="http://etfdb.com/wp-content/uploads/2013/02/MarcoPhotoParis.pdf.jpeg"></a></h3>
Marco Avellaneda is a professor of mathematics at the Courant Institute of Mathematical Sciences of New York University. In his research, Professor Avellaneda applies mathematics and econometrics to the financial market, including analysis on ETFs [also see <a href="http://etfdb.com/2013/differentiating-dividend-etfs/">Differentiating Dividend ETFs</a>] .
<ul>
<li>University: New York University</li>
<li>Specialties: Applied Mathematics, Applied Physics, Mathematical Finance, Econometrics of Financial Markets.</li>
<li>Academic Work: <a href="http://www.math.nyu.edu/faculty/avellane/LETF_Dobi_Avellaneda_Sept2012.pdf">Structural Slippage of Leveraged ETFs</a></li>
</ul>
<h3>14. William F. Sharpe<a href="http://etfdb.com/wp-content/uploads/2013/02/wfs2011.jpg"></a></h3>
William F. Sharpe is a professor of finance at Stanford’s University’s Graduate School of Business, as well as a Nobel Prize winner in Economic Sciences. He was one of the originators of the Capital Asset Pricing Model (CAPM) and developed the Sharpe Ratio. Professor Sharpe frequently blogs on his website, <a href="http://www.lifetimefinance.blogspot.com/">Lifetime Finance</a>, about general investing and finance topics.
<ul>
<li>University: Stanford University</li>
<li>Specialties: Asset Allocation and Quantitative Analysis.</li>
<li>Academic Work: <a href="http://www.stanford.edu/~wfsharpe/art/talks/indexed_investing.htm">Index Investing: A Prosaic Way to Beat the Average Investor</a></li>
</ul>
<h3>15. Robert Korajczyk<a href="http://etfdb.com/wp-content/uploads/2013/02/B6FF6EC6217740AB93A46031351DEAA8-1.jpg"></a></h3>
Robert Korajczyk is a professor of finance at the Kellog School of Northwestern University and is the Director of the Zell Center for Risk Research. He has been quoted numerous times about exchange-traded funds, and teaches extensively on the topic in his classes.
<ul>
<li>University: Northwestern University</li>
<li>Specialties: Asset Pricing, Equity markets, Investments and Portfolio Choices, Liquidity.</li>
<li>Academic Work: <a href="http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1916918">Performance Measurement with the Arbitrage Pricing Theory: A New Framework for Analysis</a></li>
</ul>
<h3>16. Hendrik Bessembinder<a href="http://etfdb.com/wp-content/uploads/2013/02/image.jpg"></a></h3>
Hendrik Bessembinder is a professor of finance at the University of Utah and is the Editor of the Journal of Financial and Quantitative Analysis. Professor Bessembinder has also served as a consultant for the Department of Justice, the SEC, and the Commodity Futures Trading Commission [also see <a href="http://etfdb.com/2013/how-to-swing-trade-etfs/">How To Swing Trade ETFs</a>].
<ul>
<li>University: University of Utah</li>
<li>Specialties: Energy Markets, Financial Management, Trading, Financial Risk, International and Domestic Equities.</li>
<li>Academic Work: <a href="http://business.nd.edu/uploadedFiles/Faculty_and_Research/Finance/Finance_Seminar_Series/2012%20Fall%20Finance%20Seminar%20Series%20-%20Hank%20Bessembinder%20Paper.pdf">Predatory or Sunshine Trading? Evidence from Crude Oil ETF Rolls</a></li>
</ul>
<h3>17. Allen Carrion<a href="http://etfdb.com/wp-content/uploads/2013/02/AllenCarrion1.jpg"></a></h3>
Allen Carrion is an assistant professor of finance at Lehigh University as well as a consultant for the U.S. Commodity Futures Trading Commission. The methodologies behind his research are motivated by both academic theory and his experience as a trading floor analyst.
<ul>
<li>University: Lehigh University</li>
<li>Specialties: Empirical Market Microstructure, Emperical Asset Pricing, Risk Management.</li>
<li>Academic Work: <a href="http://business.nd.edu/uploadedFiles/Faculty_and_Research/Finance/Finance_Seminar_Series/2012%20Fall%20Finance%20Seminar%20Series%20-%20Hank%20Bessembinder%20Paper.pdf">Predatory or Sunshine Trading? Evidence from Crude Oil ETF Rolls</a></li>
</ul>
Did we miss someone? <a href="http://etfdb.com/about/">Drop us a line</a> and let us know if you’re an ETF-friendly professor; if your story checks out, we’d be happy to include you in our database.
[For more ETF analysis, make sure to sign up for our <a href="http://etfdb.com/newsletter/" target="_blank">free ETF newsletter</a> or try a <a href="http://etfdb.com/pro/" target="_blank">free seven-day trial to ETFdb Pro</a>]
Disclosure: No positions at time of writing.
<a href="http://etfdb.com/2013/17-etf-friendly-professors/">Click here to read the original article on ETFdb.com.</a>
 
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