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Explore the power of doing favors in advance to create a bank of goodwill that can be cashed in when needed in the world of politics. Learn the importance of asking, offering, and thanking to build strong relationships. Discover a real-life story of how a proactive approach helped a faculty member navigate a crisis at the College of Business and Economics. Pearls of wisdom will guide you on how to cultivate your own bank of IOUs for future success.
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Food-For-Thought Journal Bill White Bus. 200 Winter 2004
Chapter 4: Politics • Gray’s Notebook • “Do favors long before you need anything in return.” • Explanation • This is an important aspect of positive politics. Doing favors for others at work, ahead of time, is similar to making deposits into an IOU bank account. Then, the owed favors will be there when you need to cash them in.
Background • In the early 1990’s the University faced a tremendous shortfall of students. • Accordingly, the College of Business and Economics was forced to cut classes and layoff faculty. It was a time of fear and trepidation for many of the faculty, myself included. This was me.
Background • Fortunately, in anticipation of situations like this, I had deliberately provided numerous favors and kindness to various members of the Department years before the crisis.
Background • Accordingly, my bank account of IOU’s was full.
How I Cashed-In A IOU. • Tell the Story
What Happened • I continued to teach uninterrupted for the next 16 years.
Pearls of Wisdom • Continuously build a Bank of IOU’s before you need them. • Some may call it kissing up and calculated. I consider it being thoughtful and smart. • Ask, Offer, and Thank. I heard from a friend that the best way to collect IOU’s and build relationships is to: • Ask for help to get what you want/need, • Offer to help them get what they want, and • Say thank you for knowing them. You must be genuine to pull it off.
