Smith et al. describe management as “Making Organizations perform”. Management is concerned with Individuals who are delegated authority to manage others – Let me call them ‘People with Power’. Activities for achieving goals – ‘Real Action Plans’. A body of knowledge represented by theories and frameworks about people and organizations – ‘Policy Framework’. What do managers do? As we all know they are involved in general management functions like Forecasting Planning Organizing Motivating Co-ordinating Controlling Are you aware of the ‘hidden’ dimensions of a manager’s job? Modern management theories, although highlighting the complexity of the role, have yet to provide sufficient empirical research and advice into key areas that enable both managers and organizations to increase their effectiveness. For example Dealing competently with organizational politics (“You can ignore it, but it won’t go away” – This is how surveyed employees said they viewed office politics) Successfully managing change (Adaptability is about the powerful difference between adapting to cope and adapting to win) Controlling ethical issues and demands (It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.) Developing the role of  women managers (Women can be better managers than men because they tend to be more conservative and do their homework. Men tend to take more risk without the research) Ensuring personal ‘survival’ and career success in organizations (A successful man is who lays a firm foundation with the bricks others throw at him.) Safeguarding personal health in a stressful environment (Manage stress before it manages you). How to achieve a more comprehensive view of development? Frameworks for setting, linking, and balancing individual and organizational objectives. Systems for identifying and selecting managers Structures to support, motivate and reward Plans to enable career progression Mechanisms to measure and evaluate performance. HRM and Management Development Human resource management as the name suggests is about the effective management of people in organizations. HRM involves the integration of people with business goals and strategies HRM views people as assets to be developed and utilized in a productive way rather than costs to be minimized or eliminated. The philosophies, ideologies, values and beliefs of management that operate and dominate within the organization have an impact on people management. The practices, policies and management styles that managers employ in their managerial role also align people’s behavior towards organizational goals. Senior managers determine the extent to which people are integrated into the organization’s strategic plans. They set the agenda and create the culture climate of prevailing values, attitudes and behavior. Middle and junior managers translate and ‘operationalize’ broader human resource strategies and policies. They give HRM its meaning and reality. It is their perfect management style and actual behavior that decided how the human resources is deployed and managed and thus what people experience as human resource management. The way managers themselves are managed and developed is a significant influencing factor in the way people are subsequently...

Smart Objectives for Success An objective describes something which has to be accomplished and defines what organizations, functions, departments, teams and individuals are expected to achieve. Objectives may be operational or developmental. When the contribution is oriented towards the accomplishment of corporate objectives, in the light of the organization’s mission, core values and strategic plans, it is termed as operational; personal or learning objectives that involve the improvement of knowledge, skills and performance of individuals is termed as developmental.     Objectives must be SMART: S-scientific M-motivating A-achievable R-realistic T-time bound   Objectives that are mostly confined to the near future may be termed-short term objectives, which are accomplished in the stipulated time duration. Say, for example, 1000 units of pet bottles have to be produced in a week’s time. If the firm is focused on the overall production plan for the forthcoming year, then it is termed as long term objective. In a production environment, a firm has to initially go for an aggregate plan, where the production capacity of the plant is determined to make the project feasible. The firm has to make doubly sure, whether it is resourceful in terms of physical, financial and human aspects. The work centers are allotted with jobs in a mock trial to check man versus machine co-ordination and compatibility.     Pic Courtesy: Digital Information World Proper Planning: Objectives are achieved only when there is proper planning. The top management must take the pains to clearly explain the objectives to all the employees across different levels of organization to facilitate smooth functioning. When the employees understand what is expected of them, the performance gets oriented towards accomplishing the objectives; the employees get proper direction and focus. Delivering Happiness: A Path to Profits, Passion, and Purpose Think of this, what will happen to the sales volume, if the marketing manager does not properly educate his team about the targets to be achieved for that quarter? Definitely there will be a dip in the sales owing to the lethargic and irresponsible attitude of the manager. Ultimately, the organization stands to suffer a loss in terms of time and cost of recruiting a new person to head the marketing department. Right Person for the Right Job: Organizations have to be meticulous while choosing people for the post of managers. The chosen persons must be able to identify themselves with the organization and its objectives, so that they could be a source of inspiration for people down the line. Right people for the right job, at the right place and right time is the success mantra. Objectives have to be periodically revised in the light of changing economic, political and technological developments. How to Stop Worrying and Start Living If not the objectives might become obsolete and in due course you will get stranded amidst the roaring competition.  The process of business management aims at managing people and other resources to make a modest profit. How to achieve success in an open market? By clearly setting objectives that serve as tools of motivation and persuasion, a firm can evolve and contribute strategic inputs that make the objectives realistic and...

Why mission statements are important? Before going into that, let me first briefly tell you what a mission statement is. Contact Us for Promotions & Partnerships Firms in corporate business arena perform different business activities to earn profit as well as to retain their market share and stand. How does the general public know what they are up to? Is it really necessary for the firms to expose the nature of their activities to outsiders! Well, by explicitly defining the mission of your company, you stand a chance to gain identity, character and image and there is nothing to lose. A mission statement defines the basic reason for the existence of the organization and it clearly reflects your corporate philosophy. The management’s actions also might reflect their mission, in which case the mission statement is not explicitly defined and sometimes it could be deduced from the press statements released by the CEO. Whether defined or not defined, each and every organization has a definite mission that is clearly communicated to all the employees for action. When defined, it also serves as a means to highlight the firm’s social responsibility. Following are the Distinct Characteristics that a Mission Statement Should Possess It should be precise: The mission should neither be narrow as to restrict the activities of an organization nor too broad to make the situation pointless.It should be crystal clear: It should be clear enough to lead to action and not high-sounding and adhere to cheap publicity.It should be feasible: The actions mentioned must be well within the reach of the company and should not be impossible. It should be realistic and achievable. As, credibility is involved, firms must exercise caution when they release their mission statements. Feasibility mainly depends on the resources available that facilitate the firm to work towards the mission.It should be motivating: Motivating both for the employees and the society. Employees must identify themselves with the organization and feel proud that it is worth working for the firm and customers should take pride in associating themselves with that firm.It should be distinctive: It should project your distinctive competence to sustain competitive advantage. Say, if you own a garment shop, you should talk about the range of clothes that you can offer for different sections of the society and you can name yours a “Family Shoppe”, so that people will understand the nature of your business.It should indicate major components of strategy: If the aim of your company is stability, growth, diversification or concentration, all those can be included in your mission statement.It should also indicate how objectives are to be accomplished: The time period, production target, product specialization, product or process differentiation, everything can find their place in mission statements for the benefit of the society and self. Knowledge at Your Finger TipsUdemy Strategic management involves intelligent and timely decision making and mission statements are nothing but components of strategic planning that help the managers to lead the firm with some distinct “ideology” in the form of mission statements. Some Interesting Mission Statements Google’s mission is to organize the world’s information and make it universally accessible and useful.  Nike-“Crush Reebok.” Wal-Mart-“To give ordinary folk the chance to buy the same thing as rich people.” Walt Disney-“To make people...

One of the key concepts of leadership is that everyone has innate leadership skills that can be ‘polished’ and developed. In excellent organizations, everyone, regardless of title or position, is encouraged to act like a leader. One of the principles of effective leadership is “to make sure that other people will be willing to follow you. Unfortunately, management education doesn’t place enough emphasis on leadership skills.” The functions of a leader can be defined as follows: 1. Taking the initiative – A leader initiates all actions necessary for the purpose of warranting the health and growth of the enterprise in a competitive economy. 2. He identifies group goals 3. He represents the organization 4. He acts as an arbitrator 5. To assign reasons for his actions 6. To interpret the objectives of organization 7. To guide and direct the organization 8. To encourage team work 9. He manages the organization Top 50 Quotes That Show the Road to Success This exemplary leadership model by kouzes and posner will give you a fair idea on how a leader should set behavioral and performance standards in an organization. Leadership Styles Every leader has his own style that can be defined as a leader‘s behavior towards group members. It refers to the pattern of behavior which a leader embraces in influencing the behavior of his subordinates in the organizational context. Different leadership styles can be categorized as follows. 1. Autocratic Leadership Autocratic leadership is also known as authoritarian, directive, leader centered or monothetic style. Under this style, leader concentrates all authority in himself, instructs a subordinate as to what to do, how to do it, when to do it etc. He also exercises close supervision and control over his subordinates. There are three categories of autocratic leaders a. Strict Autocrat – A strict autocrat believes on negative authority and gives orders which the subordinates must accept. He may also use his powers to disperse rewards to his group. b. Benevolent Autocrat – The benevolent style aids in accomplishing high productivity in many situations and he can develop effective human relationship. His motivational style is usually positive. c. Manipulative Autocrat – A manipulative autocrat leader is one who makes the subordinates feel that they are participating in decision making process even though he has already taken the decisions. 2. Participative Leadership This style is also called as democratic, consultative, group centered or ideographic style. A participative leader is one who consults and welcomes his subordinates to participate in decision making process. Under this style, subordinates are freely allowed to communicate with the leader and also with their fellow subordinates and take their own initiative. 3. Laissez Faire or Free-rein Leadership Under this style of leadership, the leader mostly depends upon the group and its members to establish their own goals and make their own decisions. The leader is passive and assumes the role of just another member in the group. Only very little control is exercised over group members. This style is also known permissive style of leadership. This style is appropriate only in certain situations where the manager can leave a choice to his groups. A leader is supposed to possess these discretionary skills required at different times and during interaction with different people… Qualities of a successful leader The following are the major innate qualities in a successful leader. 1. Physical features like height, weight, health and appearance 2. Intelligence 3. Emotional stability 4. Human relations 5. Empathy 6. Objectivity 7. Motivating skills 8. Technical skills 9. Communicative skills 10. Social...