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Archive for the ‘Management’ Category

Finally,

Here is the Management Presentation also by Sir Waheed Zaman.

The Presentation is Prepared For BBA (Hons) .

Click Here For Downloading – Chapter 1
Click Here For Downloading – Chapter 3
Click Here For Management Organization Goals & Planning – Chapter 7
Click Here For Strategic Management – Chapter 8
Click Here For Fundamentals of ORG  – Chapter 10
Click Here For LeaderShip – Chapter 11

Better Luck All

Much has been written about the secrets of good management and few will argue that the best managers are inspired, visionary, dedicated, industrious, energetic, energizing and display integrity, leadership, common sense and courage. So where is it that managers commonly fail or falter and lose their precious foothold on the corporation’s top rungs? The following, from the career experts at bayt.com, are ten of the most basic management traps and tips to avoid them:

Weak managers set weak goals

As a manager your role is to get specific jobs completed by employees in the most optimal, efficient and innovative manner and in order to do that, you need to set clear objectives. Successful managers set SMART goals – goals that are specific, measurable, achievable, realistic and time-based. They are able to communicate these goals clearly, simply and concisely to their employees so that none are vague or uncertain about expectations. By all means reach for the stars in your objectives but to do so without supplying employees with the training, resources, flexibility and freedom they need to accomplish their goals and a schedule of regular supervision and feedback is to set them (and yourself) up for failure.

Weak managers micro-manage – effective leaders inspire

The days of command and control organizations are long over – today’s managers recognize that in order to leverage their skills and maximize their team’s output they need to adopt a flexible approach and ‘lead’ their teams to excellence rather than closely supervise, instruct and control them. The best leaders communicate to their employees a vision and ignite in them the fire, motivation and desire to work towards making this vision a reality. Good leaders unleash their employees to innovate and achieve optimal solutions by communicating top-level goals and objectives and a suggested blueprint for success then leaving the employees to determine how to get there most optimally while ensuring they have the aptitudes, training, resources and work environment necessary to achieve superior results. While a program of regular feedback and supervision is essential, managers should ensure that their management style is not repressive, meddling or overly overbearing. The golden rule is to communicate the ‘what’ and the ‘why’ of the work that needs to be done and leave the employees to determine the ‘how’ without burdening them with strict instruction manuals or prescribed rules and patterns that are largely redundant and inconducive to speed, creativity, progress and innovation.

Weak managers are afraid of hiring/cultivating strong leaders

Strong leaders/managers have the self-confidence to hire the best people, take them to new levels and cultivate in them all the qualities needed to make them in turn effective leaders of the future. Weak leaders replicate themselves in their hiring decisions and hire mediocre players, mistakenly believing that an employee with more skills, acumen or industry knowledge than themselves will ultimately undermine them or make them look bad. The best managers are characterized by an ability to stimulate their employees to superior performance and through coaching, training, feedback as well as by example, inspire in them all the qualities needed to make effective managers. A good manager helps employees achieve their full potential and constantly raises the bar so that employees never stop learning, innovating and growing. Coaching, training, career planning and programs for ongoing growth and development of key staff are high on the priority lists of the best managers.

Weak managers belittle their employees

Bosses who favour the archaic ‘tough’ management style where employees are singled out for public reprimand and negative feedback is plentiful while recognition and positive reinforcement are scarce will fail to win the loyalty, respect and commitment of their teams over the long run. Without an inspired, fired up, self-confident employee base these managers set themselves and their teams up for failure. Effective leaders by contrast, respect their employees and give them regular feedback with intelligent constructive criticism and loudly laud special accomplishments in both public and private, while communicating any negative feedback ONLY in private and focusing such criticism strictly on the job performance, not the person’s character. Strong leaders recognize and reward a job well done. These leaders inspire their teams to perform at their best and are able to elicit from them a high degree of loyalty and a ‘hunger’ to raise the bar and continuously excel. In such organisations, employees are not afraid to challenge their boss’s ideas or upset the status quo in the interest of innovation and excellence and are encouraged to take risks to elevate the business to a new level. The autocrats and bureaucrats on the other hand sap their employees’ self-confidence, drive and energy with their overbearing management style and fail to induce in them any motivation to raise the bar or excel.

Weak managers have obsolete skills-strong leaders constantly reinvent themselves

In today’s knowledge-driven economies and highly competitive environment, skills, training and education rapidly become obsolete and effective managers know that they must constantly re-educate themselves and update their skills to maintain an edge. While over-confident managers with an inertia to further education fall by the wayside, good managers regularly take an honest inventory of their skills and abilities and upgrade their technical knowledge and soft skills wherever appropriate. They encourage their teams to do likewise with sound career planning and performance appraisal programs and an emphasis on training and self-education.

Weak managers have poor communication skills

Good communication includes cultivating and maintaining open channels of communication with the team and others in the organisation, giving constructive, intelligent feedback, eliciting ideas through brainstorming sessions or otherwise, articulating the company vision and mission in no uncertain terms, setting clear objectives and listening attentively with an open-mind to employees grievances, suggestions and any other issues. Effective leaders have an open-door policy that welcomes input, suggestions and feedback from employees and recognize that good ideas and the next best idea/process/innovation can come from anywhere. Strong leaders listen; weak leaders talk. Strong leaders pay attention to their employees and encourage them to express professional opinions and ask for more responsibility; weak leaders think they are above such open-door policies. Employees who are not listened to and are not made to feel important or respected as professionals or individuals are unlikely to innovate or express any exciting new ideas that can move a company forward.

Weak managers blame

Everybody makes mistakes and strong leaders protect their good people from taking the fall when they err. Good bosses recognize that the occasional slip-ups are inevitable and can be learning opportunities and are ready to take personal responsibility when the team makes a misstep. A good boss realizes that his most promising employees want to succeed, will grow as a result of their mistakes and are unlikely to repeat the same mistakes. They do no set their people up as a negative example for the rest of the organization nor point fingers when the going gets tough. Good bosses are personably accountable for their actions as well as the actions of their subordinates and do not allow a culture of blame to permeate the organisation.

Weak managers take full credit for their team’s accomplishments

While weak leaders usurp all the credit for a job well done by their teams, the strongest leaders will give the full credit to the team as a whole or the team member responsible for the project. Strong leaders motivate, energize and inspire by giving credit where credit is due and being generous with reward and recognition wherever appropriate. Strong leaders publicly thank their employees for a job well done and recognize that a motivated, successful, energized team will reflect directly on the boss.

Weak managers thrive on bureaucracy

Weak leaders are fond of, augment and live well with the layers and bureaucratic shackles that tie an organisation down; strong leaders remove them. Today’s effective leaders recognize that in order to compete they must operate like a small company with a high level of speed, responsiveness and flexibility. They realize that to maintain their edge in today’s marketplace their organization needs to be responsive to changing market conditions and remove the shackles, boundaries, layers, clutter and obsolete policies, procedures and routines that get in the way of the freedom and free flow of people, resources and ideas.

Weak managers are divorced from their teams

Effective managers genuinely care about their employees and take the time to get to know them and to understand their strengths, weaknesses, what makes them tick and their goals and ambitions. They also take the time to learn something about their personal life. While weak managers will maintain an outdated aloofness and a formal distance from their teams, exceptional managers are able to bring out the best in every employee and win their loyalty and respect by understanding their unique needs, motivations and abilities and showing the team that they are important and personally significant. Strong managers are team players and through their constant involvement with their teams communicate to them that they are there for them and supportive of them. Effective managers by building a supportive work environment, build a camaraderie and team spirit that enthuses and excites the team to new levels of performance.

Management is the process of getting activities completed efficiently and effectively with and through other people.

• Definition 1
  Organization and coordination of the activities of an enterprise in accordance with certain policies and in achievement of clearly defined objectives. Management is often included as a factor of production along with machines, materials, and money. According to the management guru Peter Drucker (1909-2005), the basic task of a management is twofold: marketing and innovation. Practice of modern management owes its origin to the 16th century enquiry into low-efficiency and failures of certain enterprises, conducted by the English statesman Sir Thomas More (1478-1535).
• Definition 2
  Directors and managers who have the power and responsibility to make decisions to manage an enterprise, As a discipline, management comprises of the interlocking functions of formulating corporate-policy and organizing, planning, controlling, and directing the firm’s resources to achieve the policy’s objectives. The size of management can range from one person in a small firm to hundreds or thousands of managers in multinational companies.

• Plan
  Management starts with planning. Good management starts with good planning. And proper prior planning prevents… well, you know the rest of that one.
  Without a plan you will never succeed. If you happen to make it to the goal, it will have been by luck or chance and is not repeatable. You may make it as a flash-in-the-pan, an overnight sensation, but you will never have the track record of accomplishments of which success is made.

  Figure out what your goal is (or listen when your boss tells you). Then figure out the best way to get there. What resources do you have? What can you get? Compare strengths and weaknesses of individuals and other resources. Will putting four workers on a task that takes 14 hours cost less than renting a machine that can do the same task with one worker in 6 hours? If you change the first shift from an 8 AM start to a 10 AM start, can they handle the early evening rush so you don’t have to hire an extra person for the second shift?

• Organize
  Now that you have a plan; you have to make it happen. Is everything ready ahead of your group so the right stuff will get to your group at the right time? Is your group prepared to do its part of the plan? Is the downstream organization ready for what your group will deliver and when it will arrive? Are the workers trained? Are they motivated? Do they have the equipment they need? Are there spare parts available for the equipment? Has purchasing ordered the material? Is it the right stuff? Will it get here on the appropriate schedule?
  Do the legwork to make sure everything needed to execute the plan is ready to go, or will be when it is needed. Check back to make sure that everyone understands their role and the importance of their role to the overall success.
• Direct
  Now flip the “ON” switch. Tell people what they need to do. I like to think of this part like conducting an orchestra. Everyone in the orchestra has the music in front of them. They know which section is playing which piece and when. They know when to come in, what to play, and when to stop again. The conductor cues each section to make the music happen. That’s your job here. You’ve given all your musicians (workers) the sheet music (the plan). You have the right number of musicians (workers) in each section (department), and you’ve arranged the sections on stage so the music will sound best (you have organized the work). Now you need only to tap the podium lightly with your baton to get their attention and give the downbeat.
• Monitor
  Now that you have everything moving, you have to keep an eye on things. Make sure everything is going according to the plan. When it isn’t going according to plan, you need to step in and adjust the plan, just as the orchestra conductor will adjust the tempo.
  Problems will come up. Someone will get sick. A part won’t be delivered on time. A key customer will go bankrupt. That is why you developed a contingency plan in the first place. You, as the manager, have to be always aware of what’s going on so you can make the adjustments required.
  This is an iterative process. When something is out of sync, you need to Plan a fix, Organize the resources to make it work, Direct the people who will make it happen, and continue to Monitor the effect of the change

Mary Parker Follett (1868–1933), who wrote on the topic in the early twentieth century, defined management as “the art of getting things done through people”. One can also think of management functionally, as the action of measuring a quantity on a regular basis and of adjusting some initial plan; or as the actions taken to reach one’s intended goal. This applies even in situations where planning does not take place. From this perspective, Frenchman Henri Fayol considers management to consist of five functions

1. Planning
2. Organizing
3. Leading
4. Coordinating
5. Controlling

Some people, however, find this definition, while useful, far too narrow. The phrase “management is what managers do” occurs widely, suggesting the difficulty of defining management, the shifting nature of definitions, and the connection of managerial practices with the existence of a managerial cadre or class.

Speakers of English may also use the term “management” or “the management” as a collective word describing the managers of an organization, for example of a corporation. Historically this use of the term was often contrasted with the term “Labor” referring to those being managed.

MBO is a process of agreeing upon objectives within an organization so that management and employees agree to the objectives and understand what they are.
The term “management by objectives” was first popularized by Peter Drucker in his 1954 book ‘The Practice of Management’.
Management by objectives (MBO) is a systematic and organized approach that allows management to focus on achievable goals and to attain the best possible results from available resources.
It aims to increase organizational performance by aligning goals and subordinate objectives throughout the organization. Ideally, employees get strong input to identify their objectives, time lines for completion, etc. MBO includes ongoing tracking and feedback in the process to reach objectives.
Management by Objectives (MBO) was first outlined by Peter Drucker in 1954 in his book ‘The Practice of Management’. In the 90s, Peter Drucker himself decreased the significance of this organization management method, when he said: “It’s just another tool. It is not the great cure for management inefficiency… Management by Objectives works if you know the objectives, 90% of the time you don’t.”

1. Top-level Management
   Top-level managers require an extensive knowledge of management roles and skills.
   They have to be very aware of external factors such as markets.
   Their decisions are generally of a long-term nature.
   They are responsible for strategic decisions.
   They have to chalk out the plan and see that plan may be effective in future
2. Middle Management
   Mid-level managers have a specialized understanding of certain managerial tasks.
   They are responsible for and carrying out the decisions made by top-level management.
   They are responsible for tactical decisions.
3. Lower Management
   This level of management ensures that the decisions and plans taken by the other two are carried out.
   Lower-level managers’ decisions are generally short-term ones.
   They are responsible for operational decisions.