EQ vs. IQ: Why Do Smart People Fail?

Why do smart people fail?

Why people who more social succeed while those with merely a moderate IQ considerably fail?

Keywords:

management, success, consulting, intelligence, el kamony, EI, EQ, IQ, profit, support, skills, self development, self improvement, case study, organization, mohamed

Article Body:

First we need to understand that emotional intelligence (EQ) is not the opposite of the intelligence quotient (IQ); EQ is actually complementary to IQ resembled in academic intelligence and cognitive skills, and studies actually show that our emotional states affect the way our brain functions as well as its processing speed (Cryer qtd. in Kemper). Studies have even shown that Albert Einstein's superior intellectual ability may have been linked to the part of the brain that supports psychological functions, dubbed the amygadla. The natures of EQ and IQ differ however in the ability to learn and develop them. IQ is a genetic potential that is established at birth and happens to be fixed after a certain age (pre-puberty) and can not be developed nor increased after then. EQ on the contrary can be learned, developed and improved at any age, and studies have actually shown that our ability to learn emotional intelligence increases as we get older. Another difference is that IQ is a threshold capability that can only show you the road to your career and gets you working in a certain field but it is EQ that walks through that road and gets you promoted in that field. Therefore, striking a balance between IQ and EQ is an important element of managerial success. For some extent, IQ is a driver of productive performance; however IQ-based competencies are considered "threshold abilities" i.e. the skills needed for you to do an average job. On the other hand, EQ-based competencies and skills are by far more effective, especially at higher levels of organizations where IQ differences are negligible. When a comparative study matched star performers against average ones in top organizational levels, 85 % was attributed to EQ-based competencies rather than IQ. Dr. Goleman says that even though organizations are different, have different needs, it was found that EQ contributed by 80-90% of predicting success in organizations in general.

EQ vs. IQ: Case Study

To better illustrate the value-added of EQ competencies relative to IQ, we refer to the case, which was conducted by Dr. Goleman and two renowned EQ researchers, to analyze how EQ competencies contributed to profits in a large accounting firm. First, the participants' IQs and EQs were tested and analyzed thoroughly, then they were organized in work teams and each work team was trained on one form of EQ competency like self-management and social skills; however they left one team with participants with a high IQ to act as a control for the study. Then when they evaluated the economic value-added of EQ competencies and IQ, the results were remarkable. The team with high social skills scored a 110% incremental profit, while the self-control partners scored a massive 390% incremental profit which was valued at $ 1,465,000 more profit per year. Conversely, the partners with high cognitive and analytical skills, reminiscent of IQ, added just 50% incremental profit, which indicate that IQ give support to performance but this support is limited owing to its being a threshold capability; EQ-based competencies apparently supports performance far more.

Home Based Business - Why Starting Part-Time Is The Smart Way To Success.

With the development of various technologies and with low start up costs it has become much easier today for Entrepreneurs to start a Home Based Business. It is estimated that in USA alone there are over 40 million Home Based Businesses. Home Based Businesses represent 63% of all Small Businesses. Furthermore over 75% of these businesses are operated on a part-time basis.

Some of the reasons generally attributed for starting a Home Based Business are; the fulfillment of a ...

Keywords:

Home based business, part time business, part time home based business, part time, entrepreneur,

Article Body:

With the development of various technologies and with low start up costs it has become much easier today for Entrepreneurs to start a Home Based Business. It is estimated that in USA alone there are over 40 million Home Based Businesses. Home Based Businesses represent 63% of all Small Businesses. Furthermore over 75% of these businesses are operated on a part-time basis.

Some of the reasons generally attributed for starting a Home Based Business are; the fulfillment of a dream, the necessity for an additional income or to have a back up income in the event of losing the present secure job. A reason that is more universal is that most people love to own and run a Home Based Business and would like to experience the thrill and excitement of operating a business from home either full-time or part-time. The majority of those who come under the last category are often under the misconception that it needs very little effort to operate a business from home.

If you have an idea of starting a Home Based Business it is advisable that you should start by running it on a part-time basis while continuing to work on your full-time job. There are several very compelling reasons for adopting this part-time business strategy. I shall enumerate the most important ones below.

1. In spite of your enthusiasm and determination to succeed in your Home Based Business, your attempt could end up in failure for various reasons. In such an event you could always fall back on your full-time job. Talking about failure can be disconcerting to some but you have to be prepared for any eventuality.

2. By starting as a part-time business, your investment both in finance and time will naturally be small thus minimizing the risk involved.

3. While in the process of establishing your Home Based Business, you still have to settle your monthly bills. It is the full-time job that can help you tide over this situation especially during the early months of your part-time business. If you start making profits early in your business then build up a reserve fund to start your full-time home based business.

4. The very thought of your having a regular full-time job with a steady income will give you the confidence to take a reasonable amount of risk in your part-time home based business. This will not be possible otherwise.

5. The presence of a full-time job means that you will not be under excess pressure to perform in your pat-time business for your survival. You can learn business skills, acquire business knowledge and grow gradually at your own pace.

6. By holding on to your full-time job you can continue to enjoy the benefits of health insurance, leave and other benefits till you establish yourself in your part-time business.

7. In the event of sustaining loses in your business during the first year or two; these could be written off when submitting your tax returns.

8. It is much easier to obtain bank loans, credit card facilities and other financial benefits for your business while you are in employment. Why not take advantage of this and grow your home based business while you are in employment.

9. If your intention is to become a home based business entrepreneur one day, then make use of your full-time job and lay the foundation for your home based business by making the necessary contacts with people who could be useful to your future business and could also end up as customers. You should of course ensure that your actions do not come in conflict with the Management policies of your employer.

10. Quitting your full-time job one day and starting a full-time home based business the following day could end up in chaos and disaster unless you have very strong support from experienced entrepreneurs. On the other hand if done gradually transition from full time job to full time home based business becomes much easier.

Having said the above, it has to be mentioned that there are ofcource certain disadvantages in the method indicated.

Doing a full-time job and running a part-time home based business can be strenuous and you can experience burnout and consequently neglect either you business, job or even both.

Excessive indulgence in your part-time business can eventually lead to under performing in your full-time job, thereby creating problems with your Boss or Employer.

You will have to sacrifice much of your precious family time for the sake of your home based business.

Success in your home based business or for that matter in any business does not come easily. It requires hard work, sacrifice, dedication and determination. Above all you have to be passionate about what you are doing.

Many great businesses have grown from small beginnings including the Giant Amazon.com. Start sowing the seeds of your home based business while you are in employment, watch it germinate, look after it with tender care, be passionate about it and watch it bearing the fruits of your labor. Enjoy the fruits of your labor and when the time is ripe, quit your full time job. That’s it, keep growing and establish yourself as a successful home based business entrepreneur. This then is the Smart way to Success.

Copyright © 2005 Kanaga Siva.