Five Components of Emotional Intelligence and Your Business

April 22nd, 2016

In my first post on this subject.......

 

Today’s post is written by Heather Powell, Director of Customer Service & Project Manager at SafeSourcing Inc.

In my first blog, “What is Emotional Intelligence? Why It Should Matter in Any Business?”, I identified what emotional intelligence (EQ) is and how it applies to any business. In my second blog, “Emotional Intelligence in Action”, I explain the What, How, and Why the competencies of EQ work.  In this third blog, I will give a quick explanation of the five components of emotional intelligence, and in the next series of blogs, I will present a more thorough breakdown of each and how they apply to businesses and procurement.

I must explain that the five components listed below were developed by Daniel Goleman, a science journalist who brought “emotional intelligence” on the bestseller list as an author of a number of books including “Emotional Intelligence”, “Working with Emotional Intelligence”, “Social Intelligence: The New Science of Human Relationships”, “Focus: The Hidden Driver of Excellence” and most recently “A Force for Good” The Dalai Lama Vision of Our World”.1

These are the five components of EQ and their most basic definitions. Also, I have identified the hallmarks of each; a hallmark is a sure sign.

1). Self-awareness. The ability to recognize and understand personal moods and emotions and drives, as well as their effect on others.2

a.) Hallmarks of self-awareness include self-confidence, realistic self-assessment, and a self-deprecating sense of humor. Self-awareness depends on one’s ability to monitor one’s own emotion state and to correctly identify and name one’s emotions.1

2). Self-regulation. The ability to control or redirect disruptive impulses and moods, and the propensity to suspend judgment and to think before acting.1

a.) Hallmarks include trustworthiness and integrity; comfort with ambiguity; and openness to change.1

3). Internal motivation. A passion to work for internal reasons that go beyond money and status -which are external rewards, – such as an inner vision of what is important in life, a joy in doing something, curiosity in learning, a flow that comes with being immersed in an activity. A propensity to pursue goals with energy and persistence. 1,2

a.) Hallmarks include a strong drive to achieve, optimism even in the face of failure, and organizational commitment.1

4). Empathy. The ability to understand the emotional makeup of other people. A skill in treating people according to their emotional reactions.1

a.) Hallmarks include expertise in building and retaining talent, cross-cultural sensitivity, and service to clients and customers.1

5). Social skills. Identifying social cues to establish common ground manage relationships and build networks.2

a.) Hallmarks of social skills include effectiveness in leading change, persuasiveness, and expertise building and leading teams. Additional traits are Communication: Listening and responding appropriately, Influence and Leadership: The ability to guide and inspire others, and Conflict Management: The ability to diffuse difficult situations using persuasion and negotiation.1,2

By developing our Emotional Intelligence in these areas and the five EQ domains we can become more productive and successful at what we do, and help others to be more productive and successful too. The process and outcomes of Emotional Intelligence development also contain many elements known to reduce stress for individuals and organizations, by decreasing conflict, improving relationships and understanding, and increasing stability, continuity and harmony.3

Please stay tuned for the next blog on how self-awareness can help you and your business.

We enjoy bringing this blog to you every week and hope you find value in it. For more information on how we can help you with your procurement needs or on our “Risk Free” trial program, please contact a SafeSourcing Customer Service Representative. We have an entire customer services team waiting to assist you today.

We look forward to your comments.

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References:

  1. https://www.sonoma.edu/users/s/swijtink/teaching/philosophy_101/paper1/goleman.htm
  2. http://inspirebusinesssolutions.com/blog/5-main-components-of-emotional-intelligence
  3. http://www.businessballs.com/eq.htm

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