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Business Policies-Guidelines to Attain Goals

Business Policies-Guidelines to Attain Goals
Business Policies – Framing and Execution Business policies are the keystone in the arch of management and the life-blood for the successful functioning of business, because without well-laid down policies, there cannot be lasting improvements in the economic condition of the firm and labor-management relations. A policy is a positive declaration and a command to its followers. It translates the goals of an organization into selected routes and provides the general guidelines that prescribe and proscribe programmes, which in turn, dictate practices and procedure. Attainment of Objectives: Buisness policies are general statement of principles for the attainment of objectives which serve as a guide to action for the executives at different levels of management. They pave a broad way in which the sub-ordinates tread along towards accomplishing their objectives.     Hierarchy: For each set of objectives at each level, there is a corresponding set of policies. The Board of Directors determine the basic overall corporate policies The top management decides on the executive corporate policies Managers decide on the departments / divisional policies Middle managers handle  the sectional policies     Consistent Decisions contributing to the Objectives: The policies delimit the area within which a decision has to be made; however, they do allow some discretion on the part of the man on the firing line, otherwise, they would be mere rules.   At the same time too much of discretion in policy matters may prove harmful to the accomplishment of organizational objectives and hence it is generally within limits.   Mutual Application: Policies in general are meant for mutual application by sub ordinates. They are fabricated to suit a specific situation in which they are applied, for they cannot apply themselves.   Unified Structure: Policies tend to predefine issues, avoid repeated analysis and give a unified structure to other types of plans, thus permitting managers to delegate authority while maintaining control.   Policies for all Functional Areas: In a well-structured and managed organization, policies are framed for all functional levels of management. Corporate planning Marketing Research and Development Engineering Manufacturing Inventory Purchase Physical Distribution Accounting Finance Costing Advertising Personal Selling Special Promotion, are some areas that require clear-cut policies.   Clear-Cut Guidelines:im,ii  Policies serve an extremely useful purpose in that they avoid confusion and provide clear-cut guidelines. This enables the business to be carried on smoothly and often without break. They lead to better and maximum utilization of resources, human, financial and physical, by adhering to actions for conservation. The HR Quote Book – 55 All Time Popular HR Quotes Top Motivational Quotes For HR Professionals… Quotes to keep your employees motivated (and to keep you sane). Use these popular and handy HR Quotes in your blogs, books, journals, presentations, tweets, facebook posts, pinterest boards and instagram posts. Lots of illustrations included…. Don’t miss the free PPT on Coaching and...
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Grapevine

Grapevine
Organizational Benefits that come along with Grapevine In every organization there exists an informal channel of communication called the grapevine in operation. It is quite natural for a group of people working together to be interested in one another and talk about appointments, promotions, retrenchments or even domestic affairs. Some people derive extraordinary pleasure from gathering such ‘secret’ information and transmitting it to others. They are the leaders who control the grapevine. Soon this top reaches everybody and becomes an ‘open secret.’ Grapevine is more a product of a situation than of a person. Certain situations like insecurity of service, uncertainty over promotions, special increments to a colleague, certain innovations in the organization that are likely to affect the job prospects of the employees, are sure to activate the leaders of the grapevine that instantly spreads all kinds ofrumors in the organization. Communication Network of an Organization: The channel’s network is in a horizontal fashion as the communication is only between the workers of the same level of hierarchy. Apprehensions experienced by workers on matters like promotions and retrenchments become an obsession with them. Talking about them may not alleviate their fears, but it certainly provides them emotional relief. The existence of the grapevine proves that the workers are interested in their associates. The very fact they talk among themselves helps to promote organizational solidarity and cohesion. The management should work up this kind of situation to their advantage. How? Well, all information cannot be transmitted to the employees through the official channels. If there is some useful information unsuitable for being transmitted through official channels, it can be done through grapevine. The speed with which information is transmitted through the grapevine is just remarkable. Spot the Key Persons: The management should try to spot out the key persons involved in this process and keep them well informed to block harmful rumors reaching the employees. Also the grapevine can be used as an “acid test “to check the pulse of the employees. If there is any false rumor the management should immediately use the official channels to contradict and to dispel the fears from the minds of the employees. Grapevine might be Harmful Too: One of the major drawbacks of the grapevine is that it may spread baseless or distorted news which may sometimes prove harmful even to the employees. The information is sometimes incomplete leading to ambiguities. The swiftness with which the grapevine transmits information may even be damaging, before the management becomes aware of it and can take any rectifying steps. How to Handle the Rumor-Mongers? If the workers are associated with decision-making, the rumor-mongers will be automatically frustrated. If the workers are already aware, say, that the plant is to be modernized but the modernization process is not going to involve any retrenchments, the arrival of new machinery and engineers will not cause any undue apprehensions among them. Thus the harmful effects of the grapevine can be successfully counteracted. Organisations should indulge themselves in sending positive signals to the employees to win their trust and...
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Integrated Organizational Development

Integrated Organizational Development
Integrated Organizational Development Organizational Development : in short OD, is a systematic, integrated and planned approach to improving enterprise effectiveness. Corporate firms can achieve success only when the available #resources are put to optimal use. Optimisation implies, deriving the best out of the limited or scarce resources. A firm is comprised of many departments, all of which compete for the same kind of resources and it becomes a tough proposition for the #management to allocate the resources suitably to different cost and #responsibility centers. The point is, changing needs of an organization has to be keenly observed by the management and if it senses a need for organizational development in any one of the disciplines, it should immediately employ appropriate #interventions to improve the #performance and #productivity. Culture – The Fundamental Aspect: Organizational development involves a paradigm shift in its culture, which is the fundamental aspect. It does not just mean finding solutions to problems. It is a process of managing change in an organization, resulting in behavioral changes in #employees for the good of the organization. Firms adopt different interventions to bring in changes in the behavior of employees through learning. The aim of introducing interventions would be to meet the short term and long term #objectives of the firm in an integrated fashion. Only when the employees are suitably appraised about the objectives and trained accordingly, their mindset gets tuned in to perform as per the expected standards. Intervention Techniques: Intervention techniques focus on shifting the individual’s focus from “me” to “us.” Before delving into the types of interventions, one might wonder why an organization needs to incorporate such interventions at the first place. The reasons may be attributed to the following: Some kinds of problems keep recurring to the surface. Even after solving a particular problem, another one of similar nature erupts. Productivity improvement techniques are not effective. Any amount of effort fails to yield the desired result. Employee morale is low and the top management is unable to pinpoint any particular reason for the undesired development. How to Overcome #Resistance from Employees’ End? Intervention techniques encourage employees to come out with suggestions and take part in decision making as well for the betterment of the organization. Though initially there might be a resistance to change, as it is natural for humans to resist change, gradually the workforce understands the importance of initializing the change that might have a direct bearing on them and their working environment. A holistic change is what is needed for an organization to rise as a whole to greater heights. #Group Training: Group training is a vehicle for individual change. It improves the listening skills, empathy, capability of being sensitive to fellow workers’ needs, interpersonal skills, and desired behavior in a social setup etc., Trainees selects the problem issues that are of interest to them, the setting being informal and unstructured and most interestingly there is no external force to structure the discussion. But it may be noted that the trainer interferes in extreme cases where the discussions turns out to be #counterproductive and destructive. #Survey Feedback: Survey feedback is another kind of intervention that gathers data from employees at different levels regarding the problem issues, through questionnaires and the feedback of the survey is analyzed by the top management to find the loopholes or bottlenecks hindering the development. This has been a popular organization development technique since time immemorial and still followed suit. These programs are useful in improving the #quality of work life and employee productivity. Analysis of the effectiveness of intervention programmes and evolving right research designs to measure the variables before and after the change, shall reveal the...
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Power and Balance

Power and Balance
Power and Balance in Corporate Governance Power has the ability to disorient a person’s behavior and attitude. When properly used it leads to height of efficiency, when misused it calls for calamity and disorientation in the entire business firm. It is nothing but the authority that comes with your job which has to be utilized for constructive purpose and at the same time to ascertain that things are “going in the right direction.” Precise use of power leads to a congenial atmosphere in your business arena”. Otherwise in course of time you might have to tackle warfare with your subordinates and the “undercurrent of animosity” might ruin your business success. How it affects Inter-Personal Relationship: When we talk about POWER it usually fits well into the top level management cadre, as managers and senior managers are assigned with huge powers in order to lead the firm in times of crisis as well as maintain the consistency of the nature of the firm. So when there is abuse of power consciously or unconsciously, people create a space between themselves and that particular person who misuses the power. So the result would be a lack of interpersonal relationship between the manager and the employees. Managers generally acquire and use influence that has its impact not only on the behavior of the individuals, but also on the organizational effectiveness as a whole which in turn affects productivity. Use Power as a Constructive Tool: In fact, authoritative behavior is often misunderstood by most of the managers in the business setup; there is a need for the managers to skillfully use their power in order to extract work from their teams as well as to maintain a balance between the extent to which authority must be used and the tolerance level of the employees’ (mind set). So it is more of a psychology which involves much critical analysis on the part of the manager to understand the constructive aspects of his authority and how employees at a lower level will always look up to him for support and guidance and not indifference. Power covers and affects the following important aspects, Discretion Crisis management Dependence of employees Responsibility Leadership Governance Interpersonal relationship Change management Environmental influences Reward systems Collaborative management Success of the firm and so on. In order to maintain his own integrity as well as the organisations’ the manager must be able to appreciate the relevance of power in management just by not looking into the literature but act in accordance with the situation. A detailed analysis of power dynamics makes the manager more effective in dealing with behavior inconsistencies in the organization. Try to be more open in your communication and make your employees feel that “You are always there” to support and guide them. This in turn will make your “Boss to have a second look at you” for a promotional pay. This discussion is from the manager’s perspective and there is more to be discussed and considered from an employee’s...
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Ideal Team Development

Ideal Team Development
Ideal Team Development How to effect ideal team development? As the saying goes, there is no ‘I’ in TEAM WORK. Every organization should understand the importance and highlight the need for TEAM DEVELOPMENT amongst their employees. In a small group there are chances for the ‘WE’ feeling to predominate for obvious reasons. In case of larger groups as seen in big corporate, individual interaction becomes complex and gives rise to conflicts which hold back the progress.     The “I” Factor: Even philosophers don’t support or advocate the “I” FACTOR in individuals. It is purely a result of SUPER EGO as Sigmund Freud has put it rightly. Man is a MYRIAD OF EMOTIONS and his mind always picks up wrong cues and signals perfectly. So, TRAINING plays a major part in tuning the individual’s mind or shall I say, SYNCHRONISING his understanding with that of the organisation’s.   Try to clearly explain during the induction as to: What is the ultimate goal of your organization in terms of productivity? What is expected of each individual in his own capacity? What is the culture of the organization? What is the leader of the organization like? How do you interact with your team mates? Code of conduct and disciplinary procedures What is his role regarding the team’s development?   Picture Courtesy: Popyourcareer.com   Self Awareness: Self awareness is the key factor for the growth of any individual.A mind that is PHILOSOPHICALLY BENT would prove prosperity to the team as well as the organization. Western countries have realized the importance of keeping the mind cool which can be well achieved through MEDITATION AND YOGA. Sensitivity training is of paramount importance to any organization as an intervention for achieving the overall goals of the organization.   Inter Personal Human Behavior: Effective human interactions are the backbone of efficient organizations and this is not possible unless the interpersonal human behavior is CONTROLLABLE AND OPEN TO DISCUSSION. There should always be SCOPE for improvement and SPACE to express one’s feelings and offer ideas, i.e., sense of participation must be groomed. Team leaders and Managers are to be suitably trained to steer their ship and also rewards are welcome to motivate the crew. Why don’t leaders experiment with new behavior of effective leadership casting away conservative methods and also design flexible norms? It will constitute for a well behaved group and paves way for your organization to be UNIQUE. While organizing a group, a manager should carry out the process with a humane perspective taking into account, the human values, vision, creative thinking and better means of motivation. These factors align and bind the organization together paving way for holistic thinking and collaborative...
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