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Emotional Intelligence: Why You Need It and How to Spot It at Work

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October 9, 2020 5 min read

Opinions expressed by Entrepreneur contributors are their own.

How quickly do you adapt to change at work? Are you skilled at cultivating connection with a remote team? What are your tools for noting racism and fostering diversity while building connection and belonging at work? These self-assessments are indicators of , or EQ, and come into play every day you’re engaged with others. Every organization achieves its goals through a series of daily conversations, interactions and decisions. These necessarily involve humans, and the more emotionally intelligent we are, the more effective we will be on every level.

Take, for example, the EQ competency of exercising emotional self-control. During the times you have impulsive or distressed feelings at work, how often do you manage them in a way that’s not disruptive to others? If you have witnessed yourself or a colleague in the clutches of that emotional choice-making, you have experienced emotional intelligence. If you have been part of the fallout of a disruptive display, you’ve witnessed a moment of low EQ.

Related: Want Influence? Use Intelligent Curiosity

Coined by Daniel Goleman, the term emotional intelligence, or EQ, can be likened to traditional intelligence or IQ, except EQ is about how smart we are with our human connections — in other words, how effectively we manage ourselves and our relationships. Goleman’s research launched a new movement in the world of business and management. Developing EQ works because it increases understanding of others and builds positive relationships both internally throughout workplace functions and externally in business. This leads to more effective results in everything from communication to better business deals. 

Emotional intelligence defined

You can spot emotional intelligence in four components. To recognize what those are experientially, take a moment to think about your colleagues. Based on your interactions with them over time, what would you identify as their top two values? You want to make an educated guess here, based on all the information you have. Consider your own values as well. Now consider the following definitions.

Four Quadrants from Emotional Intelligence © 2020 Britt Andreatta

Image Credit: Four Quadrants from Emotional Intelligence © 2020 Britt Andreatta
  • How well do you know yourself? Self-awareness focuses on how well you know yourself, including your values, strengths and weaknesses, in comparison to how others perceive you.
  • How well do you adapt well to new information? Self-control is about managing your emotions and actions in productive and healthy ways. 
  • What’s your style of managing conflict? Building relationships deals with how we use our awareness of others to maximize their potential and our relationship.
  • Do you know how feels? Awareness of others means knowing their emotions and needs, as well as their skills, preferences and other aspects of diversity. It’s also about extending empathy.

Within these four components are 20 competencies, such as appreciating self-awareness, diversity, adaptability and inspirational leadership. As you can see, the more you gain a detailed awareness about how the people around you work, the better you can engage together in clear communication, effective goal-setting and managing conflict into opportunity.

There’s an insider’s trick on this: The more you cultivate EQ in yourself, the more easily you can spot it in others. As you delve into knowing yourself, it becomes much easier to correctly read and identify similar qualities in others, like their emotions, values, skills and workstyle.  

Related: 5 Reasons Why Emotional Intelligence Is the Future of Work

Practice understanding each other at work

Once you have considered your colleagues’ top values (and yours) and taken those values through the components of EQ, you can verify your guesses by asking. You can say something like, “I have been reflecting a lot on my own values and am interested in more about yours. What are your top values and why?”

Of course, you want to choose a time and place that’s conducive to this topic, but you’d be surprised how open people will be, when given the chance.

The best strategy for getting to know others is to ask them. While you can certainly base a lot on your observations, you always want to verify your impressions with confirmation from that person. These conversations not only give you data, but they also help build rapport.

The truth is that emotional intelligence is more about effort than innate skill. So take time to reflect on what you know about others, gathering and verifying information as you go. As you develop your understanding of the people in your life, you’ll gain more and more insight, which leads to many other measures of success. And as you increase your EQ in these workplace conversations, others’ understanding of you will grow, too.

How is your skill at catalyzing change? Developing others? With recognition and practice, relational and personal competencies begin to build on each other. Engage yourself and others in the work of EQ, then watch it proliferate around you.

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Business

Zara rescues the supermarket trolleys and makes them fashionable

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October 20, 2020 1 min read

This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.

Grupo Inditex and its Zara brand caused a sensation on social networks after the launch of its new collection, which included two articles almost in disuse. These are two foldable supermarket trolleys made of gray and gold-khaki padded fabric that are part of their new collection.

These products, whose price is 49.95 euros each, became the object of desire of the Spaniards, who sold out the article within a few hours of its launch, so it is expected that they will be available again soon.

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The two carts are added to several models of reusable and folding cloth bags that the brand sold for 13 euros and that seek to reduce the consumption of single-use plastics, more so now that World Environment Day is approaching.

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German carmakers report unexpectedly strong profit, but the pandemic still threatens.

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The German auto industry is bouncing back strongly from the pandemic as customers make purchases they postponed earlier in the year, earnings reports by BMW and Daimler indicate. Strong economic growth in China, a crucial market for both vehicle makers, has also helped.

But analysts say the miniboom may not last. Infections in Europe and the United States are surging, endangering sales in those two essential car markets. The profit figures “look too good to be sustainable,” Tim Rokossa, an analyst at Deutsche Bank, said in a note, referring to Daimler.

BMW said late Monday that its free cash flow, a measure of profit, quadrupled to 3 billion euros, or $3.6 billion, in the third quarter compared to the same period last year. Daimler said last week that operating profit rose to €3 billion in the quarter from €2.7 billion a year earlier.

Neither company disclosed net profit in the preliminary earnings reports. Daimler will issue a detailed earnings report on Friday and BMW will do so on Nov. 4.

German carmakers have a strong influence on the economic fate of Europe. Cars and trucks are Germany’s biggest export, and German carmakers buy components from all over the continent.

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Berkshire Hathaway will pay $4.1 million to settle allegations of Iran sanctions violations.

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WASHINGTON — Berkshire Hathaway, the conglomerate owned by Warren Buffett, will pay $4.1 million to the Treasury Department to settle allegations that the company and one of its Turkish subsidiaries violated American sanctions against Iran, department officials said Tuesday in a statement.

Treasury officials said that Berkshire Hathaway’s Turkish subsidiary Iscar Kesici Takim Ticareti ve Imalati Limited Sirket, known as Iscar Turkey, allegedly sold 144 shipments of goods — including cutting tools and disposable inserts — from December 2012 to January 2016 to two intermediary companies knowing they would be resold in Iran.

The transactions, valued at $383,443, violated U.S. sanctions that prohibit American companies from doing business with Tehran. Treasury officials said that Iscar Turkey violated Berkshire’s compliance policies and also “took steps to obfuscate its dealings with Iran, including concealing these activities from Berkshire.”

Iscar Turkey is a unit of IMC International Metalworking Cos., which is based in Israel. In 2006, Berkshire Hathaway bought 80 percent of IMC for $4 billion. In 2013, it bought the remaining 20 percent for $2 billion.

Representatives from Berkshire Hathaway did not immediately respond to a request for comment.

The settlement comes as part of the Trump administration’s effort to exert pressure on Iran, including reimposing sanctions and enforcing penalties on companies that do business with Tehran.

Earlier this month, the Treasury Department imposed sanctions on 18 Iranian banks, effectively locking Iran out of the global financial system and further cratering its already collapsing economy.

The Trump administration last month also unilaterally restored international economic penalties on Tehran that much of the rest of the world has refused to enforce. It also said it was reimposing United Nations sanctions against Iran over the fierce objection of American allies, in part to keep a global arms embargo in place beyond its expiration date of Oct. 18.

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