Posted by Managementguru in Decision Making, How To, Human Resource, Social Media
on Jan 19th, 2016 | 0 comments
This is all about the art of changing hearts, minds and actions of people whom you move with, interact with every day and possibly want them to like you to get things done. What influences people to say yes? These are scientifically validated principles of persuasion that provide for small, practical and often costless changes that can lead to big differences in your ability to influence and persuade others in an entirely ethical way. What are you waiting for?
Posted by Managementguru in Change management, Decision Making, Entrepreneurship, How To, Human Resource
on Jul 23rd, 2015 | 0 comments
I was going through this quote by Vince Lombardi the other day and couldn’t control my amusement and laughter for some time. “If you aren’t fired with enthusiasm, you will be fired with enthusiasm.” But the truth behind this statement looms large in front of all HR professionals when they start working for an organization in whatever capacity. Results, Targets, Closing the sale, Clinching the deal are the inevitable #management mantras that drive the executives crazy. Isn’t it funny that it is very important to keep the morale high of the #survivors during a layoff #strategy! How on earth one can expect such a thing to happen when you know the sword is dangling above your head too! Please remember, “Resources are hired to give results, not reasons.” You need to be a star performer the first time and every time. Why Downsizing Happens? When the management of an organization finds out that their organization is not operating at peak efficiency, they naturally look for ways to make the organization more productive. This is seldom accomplished via organizational downsizing, which is a reduction in organizational size and operating costs implemented by management in order to improve organizational efficiency, productivity and/or the competitiveness of the organization. Organizational downsizing affects the work processes of an organization since the end result of the downsizing is typically fewer people performing the same workload that existed before the downsizing took place. The act of downsizing results in two categories of people: ######victims, the people who involuntarily lose their jobs due to organizational downsizing, and survivors, the employees who remain after organizational downsizing takes place. When Is Downsizing the Answer—and How to Do It Right? “When downsizing is a knee-jerk reaction, it has long-term costs.” In order for an organizational downsizing to be most effective, management must connect openly and honestly with their employees concerning the reason for the downsizing and the downsizing plan. Managers also need to listen to employees and provide comfort when necessary in order to keep the morale high among the survivors of the downsizing. It is also important that management take steps to prepare the workforce in advance of the downsizing. Proper planning includes outplacement strategies, which is the process of supporting former employees in finding new employment and training and re-skilling the remaining workers into their new jobs. By treating the victims of downsizing fairly and compassionately, the survivors of the downsizing are more likely to remain loyal to their organization. Best Practices for Managing the Downsizing Process Be transparent about the current conditions that the organization faces and the potential impact on the workforce. Treat laid-off employees with respect and sensitivity. On the day of discharge, give employees options on how they want their exit handled. Ensure that procedures used to make decisions are seen as just and fair. Carefully examine the impact of employment downsizing on all HR systems. Give survivors a reason to stay and new hires a reason to join. Kim Cameron’s 3 types of downsizing strategies: 1. Workforce Reductions– short-term strategy to cut the number of employees through attrition, early retirement or voluntary severance packages, and layoffs or termination. 2. Work Redesign– medium-term strategy in which organizations focus on work processes and assess whether specific functions, products and/or services should be eliminated. 3. Systematic Change– long-term strategy that changes the organization’s culture and attitudes, and employees’ values, with the goals of reducing costs and enhancing quality. Why do Organizations Downsize? Declining profit Business downturn or increased pressure from competitors Merging with another organization, resulting in duplication of efforts Introduction of new technology The need to reduce operating costs The desire to decrease levels of management Getting rid of employee...
Posted by Managementguru in Decision Making, Entrepreneurship, Human Resource, Leadership
on Apr 21st, 2015 | 0 comments
Want to know what works best for First Time Managers? Everybody wants to become a leader. You may vie for it, I might die for it; but in reality not everybody can make a good leader. #leadership does seek persons who are unique in their own way. One unique element which I’ve noticed in managers or leaders is that when they enter the work place, they bring along with them a kind of aura that has the power to make others submissive and polite. Not to say they are over-powering but definitely the sub-ordinates would love to greet their heads with such vigor so as to be in their good books combined with a sense of loyalty laced with respect. This session talks about “First Time Managers” who have reached the position by chance or choice and the etiquettes needed to be bestowed upon that position. 1. #learning is Eternal: “கற்றது கைமண் அளவு, கல்லாதது உலகளவு –This quote by the famous Tamil lady poet Avvaiyar who lived in 13th century reminds you “What you have learned is a mere handful; what you haven’t learned is the size of the world” and exhibited at NASA. It can also be written as “Known is a drop, unknown is an Ocean.” See how appropriate she is in indicating the finer points in our lives- just because you are a team leader or a manager does not mean that you are near perfect. You may be lacking the self-confidence to lead a team or you might be falling short in communicating clearly with the team down the line. It is always better to play along with the team, understand their psychology and at the same time exercise your rights at the right spots. You will stand to gain so much by being flexible and empathetic. 2. Communication is the Key: Here I want to take the help of the #management guru Peter Drucker who prescribed the medicine for better management which is “Management by Objectives.” Keep your team fully informed of project goals, priorities, and all-important deadlines and also involve them to set short term goals. A periodical review of the goals and results would put them in place and make your work easy. Effective communication makes you trust worthy in the eyes of your team, also provides clear direction and a sense of belongingness. 3. Inspire your Team: Passion is one element that is infectious and the other being smile. If you are passionate and sincere in your work, the enthusiasm flows like honey on ice-cream all over the workplace. A good manager creates that “Feel-Good-Factor’ whenever he is around. It is his confidence, emotional stability, communication and determination that gets carried on facilitating effective accomplishment of the enterprise goals. 4. Be a Friend: Efficient managers understand the pulse of work-force just from their #body language and #communicating styles. It becomes difficult sometimes to read between the lines when employees are hard nuts to crack and would not explicitly convey or talk about important issues that are bothering them. This may be due to fear, anxiety or peer pressure. These are the times when a manager has to behave like a friend in listening to them patiently to understand the crux of the problem so as to find a suitable solution. 5. Spontaneous #appreciation and #Mild Criticism: Think about the happiness you derive when somebody appreciates you for a good effort or achievement. The same applies to your team also, right! Appreciation for the sake of appreciating will fetch you only negative results, it has to be spontaneous. Even a mild nod of approval, a pretty thanking smile or a thumbs-up signal can...
Posted by Managementguru in Change management, Decision Making, How To
on Mar 20th, 2015 | 0 comments
How to find a job you love and do it with passion (not for people who want to become billionaires) a. Self-Discovery: Try to find out what kind of activities you enjoy doing the most and explore if you could turn that hobby or free time activity into a revenue generating source. When you do something with the single aim of earning money or generating profit, an unnecessary pressure comes and sits on your shoulder and presses you down. Follow ManagementGuru Net’s board Interview Prep on Pinterest. For example, if you like music, you could set up a band with like-minded individuals. You may ask how you can even compare the sophistication of a blue collar job with this kind of free-lancing. The issue here is job satisfaction and ultimately the effect of job dis-satisfaction on your health physically or mentally (Of course both are inter-related). If you love gardening, you can always set up a nursery and serve your community. Procure unique saplings and educate the masses on how to keep a small garden. And believe me, people are longing for green atmospheres and there is always scope for you to extend your services into landscaping. Tags: To know the kind of person you are, the kinds of activities you enjoy doing, activities you are doing those are not satisfying to you. b. Personal Identity: The highlight of doing something that you love for a living is that, it reflects your personal identity. Try finding a way to make money doing the things you like to do. Quit doing a job that creates mental and /or physical problems and gauge whether it is directly associated to your job dis-satisfaction. Tags: Personal Identity, Job dissatisfaction. c. Simplify Your Life: Simplify your life so you need less money, allowing you to engage in activities that are satisfying to you, even if they make little or no money. This works out well if you are a single/unmarried person, but when you raise a family it becomes a tough task to make the ends meet and you may start doubting your own abilities to make money. Modern world with all the technological advancements has made man lethargic and technology-dependent. Your son/daughter may not go with your ideas and treat you as an alien if you want to be any different from others. Tags: Simple life, Satisfying work We are able to see a lot of people who work for the IT industry suffering due to their weird work-hours, mental pressure and work-life imbalance. People at one point want to break the hell loose and get out of the monotony. Our education system also plays a big role in shaping the destiny of the future generation. Youngsters must be encouraged to pursue something they are good at and are willing to do. This is all easier said than done. But you will know you have found the right path for yourself when you get up each morning eager to face the day to do the things you like doing and which financially support you. This article is written based on the publication of Prof. Sydney Ross Singer, Medical Anthropologist. To see his posts on academia.edu visit this link...
Posted by Managementguru in Decision Making, Marketing
on Mar 4th, 2015 | 0 comments
GE NINE CELL MATRIX Another popular “Corporate Portfolio Analysis” technique is the result of pioneering effort of General Electric Company along with McKinsey Consultants which is known as the GE NINE CELL MATRIX. GE nine-box matrix is a strategy tool that offers a systematic approach for the multi business enterprises to prioritize their investments among the various business units. It is a framework that evaluates business portfolio and provides further strategic implications. Each business is appraised in terms of two major dimensions – Market Attractiveness and Business Strength. If one of these factors is missing, then the business will not produce desired results. Neither a strong company operating in an unattractive market, nor a weak company operating in an attractive market will do very well. The vertical axis denotes industry attractiveness, which is a weighted composite rating based on eight different factors. They are: Market size and growth rate Industry profit margins Intensity of Competition Seasonality Product Life Cycle Changes Economies of scale Technology Social, Environmental, Legal and Human Impacts PORTFOLIO ANALYSIS-BCG MATRIX What does the horizontal axis represent? It indicates business strength or in other words competitive position, which is again a weighted composite rating based on seven factors as listed below: Relative market share Profit margins Ability to compete on price and quality Knowledge of customer and market Competitive strength and weakness Technological capability Caliber of management The two composite values for industry attractiveness and competitive position are plotted for each strategic business unit (SBU) in a COMPANY’S PORTFOLIO. The PIE chart (circles) denotes the proportional size of the industry and the dark segments denote the company’s respective market share. The nine cells of the GE matrix are grouped on the basis of low to high industry attractiveness, and weak to strong business strength. Three zones of three cells each are made, indicating different combinations represented by green, yellow and red colors. So it is also called ‘Stoplight Strategy Matrix’, similar to the traffic signal. The green zone suggests you to ‘go ahead’, to grow and build, pushing you through expansion strategies. Businesses in the green zone attract major investment. Yellow cautions you to ‘wait and see’ indicating hold and maintain type of strategies aimed at stability. Red indicates that you have to adopt turnover strategies of divestment and liquidation or rebuilding approach. This matrix offers some advantages over BCG matrix in that, it offers intermediate classification of medium and average ratings. It also integrates a larger variety of strategic variables like the market share and industry size. Advantages Helps to prioritize the limited resources in order to achieve the best returns. The performance of products or business units becomes evident. It’s more sophisticated business portfolio framework than the BCG matrix. Determines the strategic steps the company needs to adopt to improve the performance of its business portfolio. Disadvantages Needs a consultant or an expert to determine industry’s attractiveness and business unit strength as accurately as possible. It is expensive to conduct. It doesn’t take into account the harmony that could exist between two or more business units. PORTER’S FIVE FORCES-INDUSTRY...