Posted by Managementguru in Change management, How To, Human Resource, Motivation, Training & Development
on Nov 25th, 2016 | 0 comments
Free Goal Setting Printables with Motivating Quotes Words play a large role in our success. What you say on a regular basis out loud gets saturated within your subconscious mind and turns into belief. This is why positive affirmations work. Through repetition, we engrave and carve our words over and over again until it leaves its mark within the unconscious as the truth of which we accept. . But here's the thing – the opposite is also true! Tell yourself you're better, smarter, faster, wiser and through the repetitions, you will create the same impact on your subconscious mind directly from the conscious mind. . Try it for yourself. A photo posted by John Ferrara (@successmessenger) on Nov 26, 2016 at 8:31pm PST “A goal should scare you a little and excite you a lot.” “A dream written down with a date becomes a goal. A goal broken down into steps becomes a plan. A plan backed by action makes your dreams come true.” “If a goal is worth having, it’s worth blocking out the time in your day-to-day life necessary to achieve it.” “Set a goal that makes you want to jump out of bed every morning.” “A goal without a plan is just a wish.” “Goals are like an address we punch into our navigation system that tells us which direction to go.” “Seeing your goal written in ink, on paper will have a powerful effect on your mind.” “Decide what you want. Decide what you are willing to exchange for it. Establish your goals and go to work.” Share one GREAT goal you’re looking to achieve this year with the rest of the community in the comment section below! Take print-outs using the print friendly icon in the share buttons. The Five Golden Rules Set Goals that Motivate You Set SMART Goals Set Goals in Writing Make an Action Plan Stick With It! 25 AWESOME INSPIRATIONAL QUOTES FOR SOCIAL...
Posted by Managementguru in Glossary, Strategy
on Mar 5th, 2015 | 0 comments
The following is a list of “Key Terms of #Strategic Management” which find their use often when trying to explain the concepts. #Mission An important undertaking that an organization believes it is its duty to do. A specific task or duty assigned to a person or group of people. Missions tend to be long-term and laid out in broad terms, without attempts being made to quantify them precisely. #MISSION STATEMENT Mission statement An open statement of the aims and #objectives of a business or an organization – providing employees with an indication of what they are attempting to achieve through their collective deeds. Mission statements are intended to give substance to the perceived purposes of the organization. Vision Statement A Vision Statement defines what your business will do and why it will exist tomorrow and it has defined #goals to be accomplished by a set date. A Vision Statement takes into account the current status of the organization, and serves to point the direction of where the organization wishes to go. Objective Something which an organization intends to do or achieve; a result that the organization intends to make happen. Long-term or short-term objective, which you hope to achieve within a few years or a few months. Objectives and aims tend to be medium-term and more specific in terms of what is intended to be achieved. SMART OBJECTIVES #Strategy A #plan of future action, usually long-term, in the pursuit of objectives. (e.g.) business strategy; company strategy; financial strategy. The formulation of long-term plans and policies by a firm which inter-connects its various production and marketing activities in order to achieve its business objectives. STRATEGY GENERATION #Aim A result that an organization’s plans or actions are intended to achieve. (e.g.) To try to do something: we aim to be No. 1 in the market in three years’ time. Goal An organization’s aim, objective or purpose. Goals and targets tend to be medium-term or short-term and may be expressed in terms of specific levels of achievements and tend to involve more specific quantification and deadlines. (e.g.) our goal is to break even within twelve months. GOALS VS. OBJECTIVES #Target A level or situation which an organization intends to achieve or aim at. An object or area aimed at the object of an attack or takeover bid. A fixed goal or objective, etc. #Tactics The plans followed to achieve a particular short-term aim. (a) The science and art of disposing and maneuvering forces in combat. (b) The art or skill of employing available means to accomplish an end. (c) A system or mode of procedure TACTICS OR STRATEGY? Plan A set of decisions about how an organization intends to do something, or to ensure that an event or result should happen in the future. Organized way of doing something: contingency plan, government’s economic plans. Plans tend to be quite specific (the shorter-term they are, the more specific they tend to be) and are usually quantified in some detail. They will, in order to ensure that they are complied with, lay out specific deadlines for each key stage. They may also involve the consideration or analysis of priorities and constraints. STRATEGIC PLANNING #Budget A #financial plan, which may be short-term or longer-term, showing probable (planned) #income and #expenditure. Budgets tend to be expressed mainly in monetary terms, although they may focus on the amounts of physical resources (materials, labor time) required. An estimate of income and expenditure for a future period, as opposed to an account, which records financial transactions after the event. BUDGET...
Posted by Managementguru in Business Management, Change management, Decision Making, Entrepreneurship, Human Resource, Leadership, Motivation
on Oct 1st, 2014 | 0 comments
Helpful Tips for Young leaders Here’s a random list of practical advice for young leaders. If you can learn and practice these early in your career, it will help you avoid having to learn them by experience. Delegate, Trust People down the line and Take Advice: While a young business leader may have a flair for leading from the front, one should realize that limited experience is a limiting factor. People are far more likely to take a manager seriously only if he or she listens to and heeds advice. When you act as the sole proprietor of making decisions in your company, people working for you start losing faith in you. It creates what is called “NEGATIVE VIBES” which is not at all good for the overall development of an organization. It is a good practice to communicate and consult with your immediate sub-ordinates before going for big decisions. Learn to let go of control. It is but appropriate to include employees in decision making and you shall be definitely rewarded with more workable strategies. Set an Example: At the same time, one of the most effectual ways to display ability is to lead by example and work hard. A leader must be prepared to shoulder a fair share of the work-load and the #involvement and #commitment he exhibits is undoubtedly infectious and projects him a great team player. The most effective way to earn respect is to lead from the front and help others succeed. Be wary about your conduct, behavior and actions and deeply aware of how it may influence others. Show #conviction: A leader has to have conviction in his/her decisions. If the young manager has done proper ground work and research, then the decision may well be the right one and he/she might be able to stand by and justify the decisions made even when challenged by experienced people. I thoroughly go with this viewpoint “A ‘No‘ uttered from the deepest conviction is better than a ‘Yes‘ merely uttered to please, or worse, to avoid trouble.” Mahatma Gandhi A leader should learn to say ‘NO’ at the right time as indecisiveness is one of history’s greatest leadership killers. Top 25 Leadership Quotes Keep Your Cool in Crisis: Part of being a successful leader is how you handle pressure. In the dynamic business environment you may have to face more challenging and stressful situations and your employees’ judge you based on how you treat such pressure. If you are a man who can see things from the right perspective embracing rationale, your team members will feel reassured by your cool composure, which will in turn develop their trust and confidence in the leader. Manage expectations: Have you ever given a thought about what employees’ expect in you? Communication is a natural gift for leaders and you may very well notice that great leaders are excellent communicators. Here, communication isn’t just talking but a one-on-one, heart-to-heart talk as you would with your close family members. By opening the lines of communication and being accessible, a leader can build a team with people who understand the ##goals and #objectives with ultimate clarity. Present Yourself with Dignity: In Tamil language, there is an age old proverb, “Aal Paadhi Aadai Paadhi”, meaning “#Good Looks Make the Work Easy”. In this modern world, a professional look is mandatory to signify your culture and #personality. A professional, well-dressed businessperson, gives the impression that he thinks that the workplace and the people there are important.” Marilyn Monroe once rightly said “I don’t mind making jokes, but I don’t want to look like...
Posted by Managementguru in Business Management, Decision Making, Principles of Management, Project Management, Strategy
on Jul 31st, 2014 | 0 comments
A goal has the word ‘go’ in it. Your goals should go forward in an unambiguous direction. However, goals are more about everything you accomplish on your journey, rather than getting to that distant point. Goals will often go into undiscovered territory and you therefore can’t even know where the end will be.
Posted by Managementguru in Business Management, Decision Making, Marketing, Strategy
on Jul 7th, 2014 | 0 comments
What is Portfolio Analysis ? Portfolio Planning is best advised for diversified companies than the more product coherent ones. Portfolio analysis plays a vital role in planning and implementation of various #strategic business units of the organization as a whole. Portfolio planning recognizes that diversified companies are a collection of businesses, each of which makes a distinct contribution to the overall corporate performance and which should be managed accordingly. Companies dealing with a wide #product range and divisions are expected to redefine their strategies for each of the SBU’s or Strategic Business Units. Then they classify these units on a portfolio grid according to the competitive position and attractiveness of a particular product market. What are strategic business units? A strategic business unit is a fully functional and discrete unit of the business that builds its own strategic vision and direction. Within large companies there are smaller specialized divisions that work towards specific projects and #objectives. The strategic business unit, often referred to as an SBU, remains an important element of the company and is accountable to their head office about their operational status. Typically they will operate as an independent organization with a specific focus on target markets and are large enough to maintain internal divisions such as finance, HR, and so forth. Types of Portfolio Planning: Analytical Planning: Planning is only at the initial level where traditional administrative tools are used. Process Planning: Here planning is a central part of the ongoing #management process and strategic mission is explicit in activities. Advantages of Portfolio Planning: It promotes substantial improvement in the quality of strategies formulated both at the business and corporate levels. It provides a guideline for adopting their overall management process to the needs of each business. It provides selective #resource allocation to the various SBUs. It furnishes companies with a greatly improved capacity for strategic control when portfolio planning is applied intelligently and with attention to its limitations and problems. Since the road to portfolio planning is a long one, companies often face difficulties trying to implement it and cannot realize the full potential of the approach. In implementing portfolio planning, there is a tendency for the focus to be shifted towards #capital investment rather than resource allocation. #Resource Development is the key: Implementing Corporate Level and Business Level Strategies: Corporate level #strategy is concerned with the strategic decisions a business makes that affect the entire organization. Financial performance, mergers and acquisitions, #human resource management and the allocation of resources are considered part of corporate level strategy. Business level strategy focuses on how to compete in a particular product/market segment or industry. Competitive advantages and distinctive competencies thus become dominant strategic concerns at this level. At the functional level, the primary focus of strategy is efficiency. Boston Consulting Group Matrix: The business policy portfolio models are most popular and useful to understand the firm’s strategic concerns and choices. They define the firm’s scope or domain by highlighting the inter-relatedness of the diverse factors, such as: #Market Growth #Market Share Cash and Cash flow patterns Capital Intensity #Product Maturity #Stars – Star category represents high growth and high market share – High investments are needed to maintain the share – High cash flow outward movement in this category to maintain status – Usually in the end of the ‘Growth’ #Product Life Cycle stage – Represents emerging and good business for the company, though they need alot of attention and priority #Cash Cows – Represents low growth, high market share – This is the best quadrant of the portfolio as the company basically enjoy the ‘milk’ of success – This is where the revenue stream flows inwards...