Last week I was in Texas, as part of a church missions trip, so I didn't have time or facilities to blog. Now I'm back, and want to share how Fidelity Investments "blindsided" me.
Because of lack of access to a computer, I could use only the Fidelity telephone system, FAST, to get quotes or trade. One day last week, I called and placed a trade. I specified the stock, quantity and type of order. The system announced it back to me, I indicated that I was OK with it, and then the system made the trade.
A few seconds later, the system told me that the trade was complete. However, it also gave me a commission amount far higher than what I was expecting, specifically one far higher than what I receive when trading on the Fidelity web site.
I spoke to a representative, and expressed my concern over the different commission levels. After listening, the representative agreed, and said that this one time, he would credit me for the difference.
I was glad to hear this news, but was still irritated by being surprised. There might well be good reasons for the differences in commission amounts. However, to avoid similar customer dissatisfaction, Fidelity could have done things differently, in particular, they could (and should) have alerted customers to this matter beforehand. Here are some possible ways:
- As soon as caller presses the key for "trading," the system could announce in general a message "caution: the commission levels for telephone trading may differ from those via the Fidelity web site."
- (even better): when the system announces the desired trade, prior to execution, it also could include the commission amount as well
In either case, callers have notice.
You can learn from this experience of mine, because it doesn't have to do only with trading with Fidelity. In your own jobs, try to minimize those instances in which you surprise people negatively.
Tuesday, August 12, 2008
Blindsided by Fidelity Investments
Last week I was in Texas, as part of a church missions trip, so I didn't have time or facilities to blog. Now I'm back, and want to share how Fidelity Investments "blindsided" me.
Because of lack of access to a computer, I could use only the Fidelity telephone system, FAST, to get quotes or trade. One day last week, I called and placed a trade. I specified the stock, quantity and type of order. The system announced it back to me, I indicated that I was OK with it, and then the system made the trade.
A few seconds later, the system told me that the trade was complete. However, it also gave me a commission amount far higher than what I was expecting, specifically one far higher than what I receive when trading on the Fidelity web site.
I spoke to a representative, and expressed my concern over the different commission levels. After listening, the representative agreed, and said that this one time, he would credit me for the difference.
I was glad to hear this news, but was still irritated by being surprised. There might well be good reasons for the differences in commission amounts. However, to avoid similar customer dissatisfaction, Fidelity could have done things differently, in particular, they could (and should) have alerted customers to this matter beforehand. Here are some possible ways:
- As soon as caller presses the key for "trading," the system could announce in general a message "caution: the commission levels for telephone trading may differ from those via the Fidelity web site."
- (even better): when the system announces the desired trade, prior to execution, it also could include the commission amount as well
In either case, callers have notice.
You can learn from this experience of mine, because it doesn't have to do only with trading with Fidelity. In your own jobs, try to minimize those instances in which you surprise people negatively.
Because of lack of access to a computer, I could use only the Fidelity telephone system, FAST, to get quotes or trade. One day last week, I called and placed a trade. I specified the stock, quantity and type of order. The system announced it back to me, I indicated that I was OK with it, and then the system made the trade.
A few seconds later, the system told me that the trade was complete. However, it also gave me a commission amount far higher than what I was expecting, specifically one far higher than what I receive when trading on the Fidelity web site.
I spoke to a representative, and expressed my concern over the different commission levels. After listening, the representative agreed, and said that this one time, he would credit me for the difference.
I was glad to hear this news, but was still irritated by being surprised. There might well be good reasons for the differences in commission amounts. However, to avoid similar customer dissatisfaction, Fidelity could have done things differently, in particular, they could (and should) have alerted customers to this matter beforehand. Here are some possible ways:
- As soon as caller presses the key for "trading," the system could announce in general a message "caution: the commission levels for telephone trading may differ from those via the Fidelity web site."
- (even better): when the system announces the desired trade, prior to execution, it also could include the commission amount as well
In either case, callers have notice.
You can learn from this experience of mine, because it doesn't have to do only with trading with Fidelity. In your own jobs, try to minimize those instances in which you surprise people negatively.
Saturday, August 2, 2008
"10 ways to work better with your boss"
10 ways to work better with your boss
- Date: December 18th, 2007
- Author: Calvin Sun
- Category: 10 things, Career
- Tags: Advice, Boss, Professional Development, Performance Management, Career, Human Resources, Workforce Management, Calvin Sun
I’m gettin’ paid by the hour, and older by the minute
My boss just pushed me over the limit
I’d like to call him somethin’
I think I’ll just call it a day…
– Alan Jackson, Jimmy Buffett, “It’s Five O’clock Somewhere”
Bosses: You can’t live with them, and you can’t live without them. Like it or not, most of us must deal with a boss, and the way we do so affects not just our career advancement and our salary, but also our mental well-being. Here are some tips on how to get along better with your boss.
Note: This information is also available as a PDF download.
#1: Remember that your boss just might have useful insights
Think you have a clueless boss? Remember the words of Mark Twain, who once said that when he was 14, his father was so stupid it was unbearable. Then, he continued, when he became 21, he was amazed at how much his father had learned in just seven years....The rest of the article is at Tech Republic
"10 ways to work better with your boss"
10 ways to work better with your boss
- Date: December 18th, 2007
- Author: Calvin Sun
- Category: 10 things, Career
- Tags: Advice, Boss, Professional Development, Performance Management, Career, Human Resources, Workforce Management, Calvin Sun
I’m gettin’ paid by the hour, and older by the minute
My boss just pushed me over the limit
I’d like to call him somethin’
I think I’ll just call it a day…
– Alan Jackson, Jimmy Buffett, “It’s Five O’clock Somewhere”
Bosses: You can’t live with them, and you can’t live without them. Like it or not, most of us must deal with a boss, and the way we do so affects not just our career advancement and our salary, but also our mental well-being. Here are some tips on how to get along better with your boss.
Note: This information is also available as a PDF download.
#1: Remember that your boss just might have useful insights
Think you have a clueless boss? Remember the words of Mark Twain, who once said that when he was 14, his father was so stupid it was unbearable. Then, he continued, when he became 21, he was amazed at how much his father had learned in just seven years....The rest of the article is at Tech Republic
Tuesday, July 29, 2008
10 gaffes to avoid with respect to Chinese culture
My latest post at Tech Republic:
Someone posted a comment in reaction to the article, discussing how in fact there IS a written form of Cantonese. One learns something new every day...
If you’re doing business in China, meeting with people from China, or planning to work there, you’ll want to avoid certain missteps. Calvin Sun explains a bit about Chinese culture and provides a heads-up on a few common mistakes and misconceptions.
– You walk into the party wearing jeans — and everyone else is black tie.
– You’re the emcee at a banquet, and as you’re introducing the speaker, you forget the speaker’s name.
– You write a check to your mother-in-law — and it bounces.
Gaffes are bad enough in your own circle of friends, associates, and family. They’re infinitely worse when they occur in the context of another culture. According to the Everest Group, the market for outsourcing of information technology and other business processes to China is growing at 38% a year. By 2010, according to Everest, that market could reach $7 billion.
These numbers mean huge opportunity, but also huge opportunity to make mistakes. If you’re doing business in China, or meeting with people from China, or want to work in China, watch out for these trouble areas, and avoid problems.
Note: This information is also available as a PDF download.
[to read the entire entry, please visit http://blogs.techrepublic.com.com/10things/?p=385]Someone posted a comment in reaction to the article, discussing how in fact there IS a written form of Cantonese. One learns something new every day...
10 gaffes to avoid with respect to Chinese culture
My latest post at Tech Republic:
Someone posted a comment in reaction to the article, discussing how in fact there IS a written form of Cantonese. One learns something new every day...
If you’re doing business in China, meeting with people from China, or planning to work there, you’ll want to avoid certain missteps. Calvin Sun explains a bit about Chinese culture and provides a heads-up on a few common mistakes and misconceptions.
– You walk into the party wearing jeans — and everyone else is black tie.
– You’re the emcee at a banquet, and as you’re introducing the speaker, you forget the speaker’s name.
– You write a check to your mother-in-law — and it bounces.
Gaffes are bad enough in your own circle of friends, associates, and family. They’re infinitely worse when they occur in the context of another culture. According to the Everest Group, the market for outsourcing of information technology and other business processes to China is growing at 38% a year. By 2010, according to Everest, that market could reach $7 billion.
These numbers mean huge opportunity, but also huge opportunity to make mistakes. If you’re doing business in China, or meeting with people from China, or want to work in China, watch out for these trouble areas, and avoid problems.
Note: This information is also available as a PDF download.
[to read the entire entry, please visit http://blogs.techrepublic.com.com/10things/?p=385]Someone posted a comment in reaction to the article, discussing how in fact there IS a written form of Cantonese. One learns something new every day...
Monday, July 7, 2008
Non-transparent technology
Tomorrow I am going out of town, on a Delta flight that is a Northwest code share. In other words, I made the reservation through Delta, and the flight has a Delta flight number, but the actual flight is operated by Northwest. I had purchased the ticket about two weeks ago, and received my e-mail receipt.
This morning, I signed onto the Delta site, brought up my itinerary, and tried to check in. No way, because the "check in" command button was greyed out.
I called Delta, and after about twenty minutes on hold, reached a live person, who of course said she couldn't find my reservation. After more searching, she finally did find it. However, she apologized and said even she couldn't check me in. Rather, I had to have my NORTHWEST confirmation number (which is different from my Delta confirmation number) and I had to check in at the Northwest web site.
I then visited the Northwest site and checked in. However, the experience left me puzzled and got me to think. Here was an example of where technology failed to mirror business processes. In order to have code sharing, Northwest and Delta had to have gotten together to negotiate the arrangements. There had to be communications between them and between their reservations systems. However, that communications and transparency didn't carry over to the Delta web site. If it had, that web site should have provided at least a link to the Northwest web site, and provided the Northwest confirmation number. In fact, to take transparency to its greatest level, I simply should have been able to check in at Delta.
Keep this incident in mind if you're developing a system. Make sure it mirrors the business process you're supporting. Make the technology as transparent as possible.
This morning, I signed onto the Delta site, brought up my itinerary, and tried to check in. No way, because the "check in" command button was greyed out.
I called Delta, and after about twenty minutes on hold, reached a live person, who of course said she couldn't find my reservation. After more searching, she finally did find it. However, she apologized and said even she couldn't check me in. Rather, I had to have my NORTHWEST confirmation number (which is different from my Delta confirmation number) and I had to check in at the Northwest web site.
I then visited the Northwest site and checked in. However, the experience left me puzzled and got me to think. Here was an example of where technology failed to mirror business processes. In order to have code sharing, Northwest and Delta had to have gotten together to negotiate the arrangements. There had to be communications between them and between their reservations systems. However, that communications and transparency didn't carry over to the Delta web site. If it had, that web site should have provided at least a link to the Northwest web site, and provided the Northwest confirmation number. In fact, to take transparency to its greatest level, I simply should have been able to check in at Delta.
Keep this incident in mind if you're developing a system. Make sure it mirrors the business process you're supporting. Make the technology as transparent as possible.
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