As part of a management team you probably spend a lot of time studying the multitude of differing business reports that lower level managers turn in for your review. Without this kind of business report it is hard to keep management up to date with the progress and status of the company. Management needs these business reports if they are to successfully run the company. One of the most important business reports that management will review is the business report covering employee performance.
In most industries and businesses employee performance is the driving factor that dictates how your company fares. As the employee performs, so performs the business. Thus it is inherently important that management receives the proper business reports and has a feel for how employee performance is affecting the bottom line.
One common way for management to stay on top of employee performance is to rely on a business report typically known as an hr scorecard. An hr scorecard is essentially a scorecard or report that tracks the human resources side of the company. Just as revenues and expenses are important to management, the employee performance driving these figures should also be important.
The best management teams place an extraordinary amount of value in their employees. It is naïve to think that your employees are for the most part replaceable. When you place value in your employees and are able to identify their strengths and weaknesses through employee performance reports and performance reviews you will be able to help them add even more value to the company.
An hr scorecard can help management identify the areas that need improvement and develop a plan that can be implemented to enhance the skill sets that are lacking in their employees. It is important to rely on hr scorecards and business reports to evaluate employee performance because managers often become complacent and rationalize that their employees are doing the best job possible. In reality there is no reason management shouldn't expect continuous improvement from their workers. By nature most people are driven to become better at what they do, but it is management's responsibility to speed this process up. Management would be shortsighted if they were to merely expect their employees to continually improve their performance without ever receiving enhanced training, learning new skill sets, or benefiting from the input of outside sources.
Thus management must be proactive and ensure that employee performance is improving by finding ways to teach, train, and motivate their employees. The expertise of management is needed most when an employee has seemingly peaked. It is then that management must step in and rely on the hr scorecard, their business report, and the employee performance report to find ways to help the employee progress. When employees stop progressing and improving the value they add to the company begins to decrease. If management stays on top of employee performance reports then they can prevent this happening, which in turn benefits the overall value of the company.
ABOUT THE AUTHOR
Adam Smith is an information author for 10X Marketing. For more information about a sales activity report please visit Corda.com
Tuesday, July 31, 2018
Tuesday, July 17, 2018
Is Your Management Style Assisting or Hurting Your Business?
Many times business owners can have significant differences in management styles that can deter the growth of both the employees and the business.
Employees can have differing needs that require differing methods of management as well. Problems arise when the management style of a business owner does not match the needs of the employees.
There are two basic management styles that are also broken down into more minor categories, the Autocratic Management Style and the Permissive Management Style. An Autocratic Management Style is one in which the business owner makes all decisions unilaterally. In other words, the business owner is the "boss" period and doesn't value input from employees. The business owner's word is law. The Permissive Management Style allows employees to take part in business decisions. A rather considerable degree of autonomy on the part of employees is encouraged in this management style.
If a business owner possesses an Autocratic Management Style, and the employees and/or type of business would benefit more from a Permissive Management Style, problems will arise, and vice versa.
Management styles may also be "situational", in other words, should be changed depending upon the needs and growth of the business, as well as the differing situations that may occur.
How then can a business owner know if their overall "approach" or management style is hurting or assisting their business? Easy: Results.
The results of the business, in all facets of the business, will dictate which management style is needed, or if a business owner needs to amend their management style. If a business is doing well financially, if clients are routinely satisfied, if employees are happy, are all indications that the management style of the business owner is appropriate. Discontentment and loss of business would be indicators that the approach is incorrect.
An example of this will explain this principle further:
Karen R. successfully managed her own business for several years. She employed a rather Permissive Management Style, allowing the employees plenty of input, with a rather "family style" atmosphere developing. The employees were very much engaged in the business and considered the business "their own" as well, leading to much devotion on their parts.
However, as the business grew, so did the demands of the clients. It became imperative for Karen R. to change her management style to the Authoritative Management Style, as she needed to quickly enforce parameters, and complete projects. There simply was no time for discussion among the employees, and no time for multiple approaches to each project.
This led to much discontent on the part of the employees, and they needed to be reminded that their opinions were no longer welcomed repeatedly, which left Karen R. frazzled and stressed too.
The solution: Karen R. engaged a series of psychological tests for both herself and her employees, as initially she had no clue what was wrong or how to relieve the problems. This test revealed that she was being somewhat "overly authoritative" in her approach, and also that her employees were "too expectant" in their demands that she include them in decisions. A compromise was reached, and Karen R., now allows some "input" from the employees, but retains the right to make a decision unilaterally. This combination of Authoritative/Permissive Management Styles has led to the relief of the stress within her organization, and has also led to increased happiness and productivity on the part of the employees.
Without a good knowledge of their own management styles, or psychological approaches to business, business owners can set themselves up for problems. They may be so difficult in their approach, and so set in their ways, that they in essence, would not put up with this behavior if they worked for themselves. Or they can be so passive, and so permissive, that they become "doormats" for the employees, thus not achieving enough control over the business. Karen R. above is a good example. Her Authoritative Management Style, when adopted, became much too rigid for the growth of the business, and this was because of her perceived "need" for control in a business that was growing rather rapidly. Because she herself felt somewhat overwhelmed by the growth, she tended to approach the employees, with an attitude that was too strict and unrelenting.
Assessment of situations, along with psychological tests administered to all within a business, if problems arise, can go a long way towards alleviating the problems. These tests are generally available online or from Human Resource providers.
Business owners can't rectify a problem or their own behaviors or that of their employees, unless they know specifically what these problems are. Insight into themselves and others, will assist business owners into successful resolution of all problems as they occur. Knowledge of behaviors and knowledge of management styles, can prevent problems in management problems before they happen.
ABOUT THE AUTHOR
Vishal P. Rao is the owner of http://www.home-based-business-opportunities.com - One of Internet's leading website dedicated to starting, managing and marketing a home based business.
Employees can have differing needs that require differing methods of management as well. Problems arise when the management style of a business owner does not match the needs of the employees.
There are two basic management styles that are also broken down into more minor categories, the Autocratic Management Style and the Permissive Management Style. An Autocratic Management Style is one in which the business owner makes all decisions unilaterally. In other words, the business owner is the "boss" period and doesn't value input from employees. The business owner's word is law. The Permissive Management Style allows employees to take part in business decisions. A rather considerable degree of autonomy on the part of employees is encouraged in this management style.
If a business owner possesses an Autocratic Management Style, and the employees and/or type of business would benefit more from a Permissive Management Style, problems will arise, and vice versa.
Management styles may also be "situational", in other words, should be changed depending upon the needs and growth of the business, as well as the differing situations that may occur.
How then can a business owner know if their overall "approach" or management style is hurting or assisting their business? Easy: Results.
The results of the business, in all facets of the business, will dictate which management style is needed, or if a business owner needs to amend their management style. If a business is doing well financially, if clients are routinely satisfied, if employees are happy, are all indications that the management style of the business owner is appropriate. Discontentment and loss of business would be indicators that the approach is incorrect.
An example of this will explain this principle further:
Karen R. successfully managed her own business for several years. She employed a rather Permissive Management Style, allowing the employees plenty of input, with a rather "family style" atmosphere developing. The employees were very much engaged in the business and considered the business "their own" as well, leading to much devotion on their parts.
However, as the business grew, so did the demands of the clients. It became imperative for Karen R. to change her management style to the Authoritative Management Style, as she needed to quickly enforce parameters, and complete projects. There simply was no time for discussion among the employees, and no time for multiple approaches to each project.
This led to much discontent on the part of the employees, and they needed to be reminded that their opinions were no longer welcomed repeatedly, which left Karen R. frazzled and stressed too.
The solution: Karen R. engaged a series of psychological tests for both herself and her employees, as initially she had no clue what was wrong or how to relieve the problems. This test revealed that she was being somewhat "overly authoritative" in her approach, and also that her employees were "too expectant" in their demands that she include them in decisions. A compromise was reached, and Karen R., now allows some "input" from the employees, but retains the right to make a decision unilaterally. This combination of Authoritative/Permissive Management Styles has led to the relief of the stress within her organization, and has also led to increased happiness and productivity on the part of the employees.
Without a good knowledge of their own management styles, or psychological approaches to business, business owners can set themselves up for problems. They may be so difficult in their approach, and so set in their ways, that they in essence, would not put up with this behavior if they worked for themselves. Or they can be so passive, and so permissive, that they become "doormats" for the employees, thus not achieving enough control over the business. Karen R. above is a good example. Her Authoritative Management Style, when adopted, became much too rigid for the growth of the business, and this was because of her perceived "need" for control in a business that was growing rather rapidly. Because she herself felt somewhat overwhelmed by the growth, she tended to approach the employees, with an attitude that was too strict and unrelenting.
Assessment of situations, along with psychological tests administered to all within a business, if problems arise, can go a long way towards alleviating the problems. These tests are generally available online or from Human Resource providers.
Business owners can't rectify a problem or their own behaviors or that of their employees, unless they know specifically what these problems are. Insight into themselves and others, will assist business owners into successful resolution of all problems as they occur. Knowledge of behaviors and knowledge of management styles, can prevent problems in management problems before they happen.
ABOUT THE AUTHOR
Vishal P. Rao is the owner of http://www.home-based-business-opportunities.com - One of Internet's leading website dedicated to starting, managing and marketing a home based business.
Why Study Business Management Today?
Business Management related subjects such as entrepreneurship, banking, finance, accounting, human resource, marketing, organization behavior, strategic management, quantitative techniques and economics are among the most popular fields of study at universities worldwide, particularly at graduate level. You might wonder why this is the case. The answer lies in increasing globalization and transnational expansion of business operations over time and consequent requirement of skilled people to address complex set of business problems. Since business touches on pretty much every aspect of modern human life, careers for business graduates are diverse and often highly paid.
What to expect from a Business Management degree?
A student enrolled for an undergraduate degree in business management course can expect a three- or four-years of study, with some business schools and universities offering an extra year for the student to study abroad or to get an in-company experience. Some institutions offer their business management degree as a BSc (Bachelor of Science) instead of a BA (Bachelor of Arts). One can pursue Business Management degree either in some highly specialized subject or as a generic course that includes a variety of aspects concerning business. The choice of a particular course depends on one’s career goals. However, most students go for a generic course at the undergraduate level to gain essential foundation in multiple aspects of the business world before choosing a specialization. From master’s level on wards, business management degrees are usually more focused on a particular aspect of business, with some flexibility for students to opt for a combination of courses to match their individual interests. Business Management courses lay strong emphasis on the practical application of theory, through the use of a variety of learning tools such as case studies, role playing, practice oriented activities, decision making and problem-solving tasks, presentations, project and team work, as also internships.
Career Opportunities
1. Academic Opportunities
A first-class degree in Business Management is the natural and ideal base for launching yourself into the most rigorous of Masters programmes in areas involving business and management studies including Banking & Finance, Business Analysis, Business Law, Human Resource Management, Public Relations, Investment Management, Management Consultancy, Business Journalism, Accountancy, both within India and outside.
And if you choose to pursue a career as an academician thereafter, the theoretically and analytically rigorous nature of a Business Management programme will stand you in excellent stead. Research in Business Management studies, therefore, is a popular and viable option for you.
Moreover, the quantitative ability, intellectual curiosity and communication and decision-making skills you will develop while studying a Business Management programme give you an edge for business-school admissions. This is because these are some of the key skills sought out during MBA programme admission tests and interviews, a fact borne out by admissions data from such schools across the world.
2. Corporate / Entrepreneurial Avenues
The quantitative, communication and decision-making skills you will garner will also stand you in excellent stead in the eyes of employers across a wide range of sectors – from lucrative and challenging jobs in areas such as investment banking, consulting and marketing to firms engaged in economics and management research, policy-making and non-governmental work.
The application-oriented nature of a Business Management programme ensures that you have both the ability and the practice to understand the implications of international and national events for your economy or your corporation. This skill is valued very highly by the full spectrum of employers.
Family businesses are typically founded on and run on traditional bases, which, as we are well aware, are fast becoming outdated. The entrepreneurial and managerial skills you will acquire throughout a Business Management Programme will enable you to understand and implement the nuances of the modern organisational framework in either a family business run on traditional lines or a venture that you, as an entrepreneur, wish to start-up. The distinct competence that will be gained will hold you in good stead.
Requirements
In order to be eligible for admission into Business Management undergraduate degree course, one must have successfully completed 12th class studies. Besides, individual institutions prescribe their own entrance requirements including written tests and interviews for the purpose of such admissions. You must also be proficient in mathematics and English communication.
Why at ISBF?
The BSc Business and Management Programme offered at ISBF under the academic direction from the London School of Economics and Political Science (LSE) prepares you fittingly for the demanding world of business and management. LSE is known as a leading school in the world for social science studies with a multi-disciplinary perspective, and this programme makes the participants familiar with a wide range of subjects that look at business and management analytically and critically. The programme enables the students to explore, understand and appreciate the inter relationships between business and management issues from the perspective of a number of social science disciplines.
What this means is that the courses offered through the programme address the problems and solutions of today’s globalised world of business and management holistically. So, you will no longer merely learn concepts in accounting, finance, marketing or human resource as discrete sets of knowledge; rather more importantly, you will learn to analyze their collective role in the success of business and management in a competitive market scenario. You will thus acquire the ability to think independently about business and management decisions and gain a degree which will be valued by employers looking for people who can demonstrate logical and quantitative reasoning. Importantly, you will acquire the cultural sensitivity required to learn from issues and experiences relevant to your local environment. Consequently, the degree will equip the participants with sufficient entrepreneurial and managerial skills needed for undertaking their own/family business either locally or globally.
About the Author
Aryapriya Ganguly
Associate Professor
Indian School of Business and Finance (ISBF), New Delhi
What to expect from a Business Management degree?
A student enrolled for an undergraduate degree in business management course can expect a three- or four-years of study, with some business schools and universities offering an extra year for the student to study abroad or to get an in-company experience. Some institutions offer their business management degree as a BSc (Bachelor of Science) instead of a BA (Bachelor of Arts). One can pursue Business Management degree either in some highly specialized subject or as a generic course that includes a variety of aspects concerning business. The choice of a particular course depends on one’s career goals. However, most students go for a generic course at the undergraduate level to gain essential foundation in multiple aspects of the business world before choosing a specialization. From master’s level on wards, business management degrees are usually more focused on a particular aspect of business, with some flexibility for students to opt for a combination of courses to match their individual interests. Business Management courses lay strong emphasis on the practical application of theory, through the use of a variety of learning tools such as case studies, role playing, practice oriented activities, decision making and problem-solving tasks, presentations, project and team work, as also internships.
Career Opportunities
1. Academic Opportunities
A first-class degree in Business Management is the natural and ideal base for launching yourself into the most rigorous of Masters programmes in areas involving business and management studies including Banking & Finance, Business Analysis, Business Law, Human Resource Management, Public Relations, Investment Management, Management Consultancy, Business Journalism, Accountancy, both within India and outside.
And if you choose to pursue a career as an academician thereafter, the theoretically and analytically rigorous nature of a Business Management programme will stand you in excellent stead. Research in Business Management studies, therefore, is a popular and viable option for you.
Moreover, the quantitative ability, intellectual curiosity and communication and decision-making skills you will develop while studying a Business Management programme give you an edge for business-school admissions. This is because these are some of the key skills sought out during MBA programme admission tests and interviews, a fact borne out by admissions data from such schools across the world.
2. Corporate / Entrepreneurial Avenues
The quantitative, communication and decision-making skills you will garner will also stand you in excellent stead in the eyes of employers across a wide range of sectors – from lucrative and challenging jobs in areas such as investment banking, consulting and marketing to firms engaged in economics and management research, policy-making and non-governmental work.
The application-oriented nature of a Business Management programme ensures that you have both the ability and the practice to understand the implications of international and national events for your economy or your corporation. This skill is valued very highly by the full spectrum of employers.
Family businesses are typically founded on and run on traditional bases, which, as we are well aware, are fast becoming outdated. The entrepreneurial and managerial skills you will acquire throughout a Business Management Programme will enable you to understand and implement the nuances of the modern organisational framework in either a family business run on traditional lines or a venture that you, as an entrepreneur, wish to start-up. The distinct competence that will be gained will hold you in good stead.
Requirements
In order to be eligible for admission into Business Management undergraduate degree course, one must have successfully completed 12th class studies. Besides, individual institutions prescribe their own entrance requirements including written tests and interviews for the purpose of such admissions. You must also be proficient in mathematics and English communication.
Why at ISBF?
The BSc Business and Management Programme offered at ISBF under the academic direction from the London School of Economics and Political Science (LSE) prepares you fittingly for the demanding world of business and management. LSE is known as a leading school in the world for social science studies with a multi-disciplinary perspective, and this programme makes the participants familiar with a wide range of subjects that look at business and management analytically and critically. The programme enables the students to explore, understand and appreciate the inter relationships between business and management issues from the perspective of a number of social science disciplines.
What this means is that the courses offered through the programme address the problems and solutions of today’s globalised world of business and management holistically. So, you will no longer merely learn concepts in accounting, finance, marketing or human resource as discrete sets of knowledge; rather more importantly, you will learn to analyze their collective role in the success of business and management in a competitive market scenario. You will thus acquire the ability to think independently about business and management decisions and gain a degree which will be valued by employers looking for people who can demonstrate logical and quantitative reasoning. Importantly, you will acquire the cultural sensitivity required to learn from issues and experiences relevant to your local environment. Consequently, the degree will equip the participants with sufficient entrepreneurial and managerial skills needed for undertaking their own/family business either locally or globally.
About the Author
Aryapriya Ganguly
Associate Professor
Indian School of Business and Finance (ISBF), New Delhi
Management Fundamentals
For beginning business students learning the business terminology will go a long way in ensuring you perform well in your classes. Not all families have a strong business pedigree and many of us must learn the business basics the old fashioned way – on our own. If you don’t know what management is or what the financial reporting process entails, then this is a great place to start. To jump start your busing understanding here is a brief overview of some fundamental business terms.
Management
What is management? What exactly does management do? Excellent questions for somebody that has never worked directly with a management team. To the uninitiated, it might seem like management just sits on their posteriors all day long and bosses people around. However, there is a reason management gets paid top dollar and it is not because they are the only ones willing to sit behind a desk day in and day out.
As Merriam-Webster informs us, management entails conducting or supervising something or someone. In the business setting, management ensures business objectives are met and the corporation turns a profit. The management team shoulders the majority of the responsibility within a corporation. Simply put, management makes the decisions, especially the hard ones. If the business is successful they get paid well, if the business suffers they get fired.
Management Report
The management report contains everything important to management. The management report helps the executive management team make the necessary decisions to drive the business down a successful path. Depending on the business, the management report will contain a variety of different division reports.
The management report will typically contain reports from the core divisions of the business. For example, an ordinary management report will include reports from such departments as finance, operations, human resources, and R&D. These reports include information pertaining to the particular department and include upcoming issues and plans for the future. The executive management team will analyze the management report, which consists of a compilation of each report from the core departments, and make executive decisions based on the information contained therein.
Financial Reporting
What is Financial Reporting? Glad you asked. As Dr. John Sacco of George Mason University explains, financial reporting from the governments perspective covers the following:
Financial reporting is largely an effort to assess financial performance, that is, how well or how poorly the government performed with money entrusted to it. Financial decisions include raising and spending money as well making promises that have financial consequences. Financial reporting is considered a part of governmental accountability for financial decisions. Exactly how financial reporting is done depends in part on the model selected. With either model, many types of financial reports can be generated but a considerable amount of attention is given to the quantitative financial statements, which are one type of report, but usually the major report. These quantitative financial statements are found in the Comprehensive Annual Financial Report.
Hopefully this brief introduction of key business terms will help you as you begin your studies in business. The business landscape is an exciting place where managers can really leave a lasting impact. But before you enter the business world it is vital you develop a strong business background by learning the basics of business in theory first.
ABOUT THE AUTHOR
Adam Smith is an informational author for 10X Marketing, which specializes in Link Recruitment. To learn more about online business intelligence please visit Corda.com
Management
What is management? What exactly does management do? Excellent questions for somebody that has never worked directly with a management team. To the uninitiated, it might seem like management just sits on their posteriors all day long and bosses people around. However, there is a reason management gets paid top dollar and it is not because they are the only ones willing to sit behind a desk day in and day out.
As Merriam-Webster informs us, management entails conducting or supervising something or someone. In the business setting, management ensures business objectives are met and the corporation turns a profit. The management team shoulders the majority of the responsibility within a corporation. Simply put, management makes the decisions, especially the hard ones. If the business is successful they get paid well, if the business suffers they get fired.
Management Report
The management report contains everything important to management. The management report helps the executive management team make the necessary decisions to drive the business down a successful path. Depending on the business, the management report will contain a variety of different division reports.
The management report will typically contain reports from the core divisions of the business. For example, an ordinary management report will include reports from such departments as finance, operations, human resources, and R&D. These reports include information pertaining to the particular department and include upcoming issues and plans for the future. The executive management team will analyze the management report, which consists of a compilation of each report from the core departments, and make executive decisions based on the information contained therein.
Financial Reporting
What is Financial Reporting? Glad you asked. As Dr. John Sacco of George Mason University explains, financial reporting from the governments perspective covers the following:
Financial reporting is largely an effort to assess financial performance, that is, how well or how poorly the government performed with money entrusted to it. Financial decisions include raising and spending money as well making promises that have financial consequences. Financial reporting is considered a part of governmental accountability for financial decisions. Exactly how financial reporting is done depends in part on the model selected. With either model, many types of financial reports can be generated but a considerable amount of attention is given to the quantitative financial statements, which are one type of report, but usually the major report. These quantitative financial statements are found in the Comprehensive Annual Financial Report.
Hopefully this brief introduction of key business terms will help you as you begin your studies in business. The business landscape is an exciting place where managers can really leave a lasting impact. But before you enter the business world it is vital you develop a strong business background by learning the basics of business in theory first.
ABOUT THE AUTHOR
Adam Smith is an informational author for 10X Marketing, which specializes in Link Recruitment. To learn more about online business intelligence please visit Corda.com
Why and How to Avoid Micro-management?
Micro management is quite a famous term in Business management. It can be defined as - a style of a manager where he closely observes or controls the work of his employees, personally.
This is actually considered as a negative approach to management, where managers spend a lot of their time and indulge themselves in addressing small issues with the employees rather than focusing on the important management activities where they are mainly required to concentrate. That is why it is mostly better to avoid micro-management.
If a manager gets involved in minor issues, which does not actually require his attention, issues that can be looked after by any other supervisor or concerned person, it is waste of his productive time and could cause negative effects on the workers too. This further hampers the overall performance and increases the chances to miss the set goals. It also increases the job dissatisfaction among the employees.
Micro-management always creates an adverse effect on the working environment. Most of the employees do not like this kind of work environment, specially the employees who do their work according to the set standards, are always punctual and know their job very well. They would not appreciate the interference of the manager in their daily work. Such employees may get de-motivated and go to an extend of leaving the job, as, if an authority such as a manager monitors their work daily, they may feel pressured and interrupted. They may feel that they are not getting a free work environment and have the fear of continuously being under observation.
There are few necessary measures which you can take in order to avoid micro-management. It will surely be a boon for you as well as your organization.
1) Analyze what you are doing: - Just analyze why is it that you are trying to look into all those little minor things that can be efficiently handled by your employees. Is that the lack of trust or something else? Always remember that your employee will never develop confidence in work unless you trust him.
2) Identify your own roles and responsibilities: - You yourself need to understand what you are being paid for. Once you are given an opportunity to manage things, you need to make sure that other people are more productive rather than yourself getting involved in production.
Once you will realize your exact roles and responsibilities you will avoid micro-management. You will surely concentrate on bigger issues, which really needs to be addressed and will ultimately help you to get the work done efficiently and in an organized manner. It is the primary need of every organization to avoid micro-management. However, in most of the cases there are some employees who can only be productive under strict supervision, which we can call as micro-management. Still you can avoid micro-management and it is very simple if you follow these simple steps:
1) You must trust your employees and allow them to do the work in their own way as long as they perform according to the standards.
2) Allow your employees to take minor decisions in their day to day work and get involved only in bigger decision making where they might need your assistance.
3) A person always learns from his mistakes, so do not be harsh or penalize your employee if he does make some mistake in his work, rather give him proper training so that he does not repeat the same mistake again.
4) Try to motivate your team. Micro-management has its own pros and cons but it is always beneficial to keep your employees happy and stress free, as it ultimately leads to productive and profitable business.
It is therefore better to avoid micro-management in most of the circumstances.
ABOUT THE AUTHOR
Ryan Fyfe is the CEO of http://www.shiftplanning.com/ - An intuitive and free online employee scheduling tool for businesses of all sizes in all industries.
This is actually considered as a negative approach to management, where managers spend a lot of their time and indulge themselves in addressing small issues with the employees rather than focusing on the important management activities where they are mainly required to concentrate. That is why it is mostly better to avoid micro-management.
If a manager gets involved in minor issues, which does not actually require his attention, issues that can be looked after by any other supervisor or concerned person, it is waste of his productive time and could cause negative effects on the workers too. This further hampers the overall performance and increases the chances to miss the set goals. It also increases the job dissatisfaction among the employees.
Micro-management always creates an adverse effect on the working environment. Most of the employees do not like this kind of work environment, specially the employees who do their work according to the set standards, are always punctual and know their job very well. They would not appreciate the interference of the manager in their daily work. Such employees may get de-motivated and go to an extend of leaving the job, as, if an authority such as a manager monitors their work daily, they may feel pressured and interrupted. They may feel that they are not getting a free work environment and have the fear of continuously being under observation.
There are few necessary measures which you can take in order to avoid micro-management. It will surely be a boon for you as well as your organization.
1) Analyze what you are doing: - Just analyze why is it that you are trying to look into all those little minor things that can be efficiently handled by your employees. Is that the lack of trust or something else? Always remember that your employee will never develop confidence in work unless you trust him.
2) Identify your own roles and responsibilities: - You yourself need to understand what you are being paid for. Once you are given an opportunity to manage things, you need to make sure that other people are more productive rather than yourself getting involved in production.
Once you will realize your exact roles and responsibilities you will avoid micro-management. You will surely concentrate on bigger issues, which really needs to be addressed and will ultimately help you to get the work done efficiently and in an organized manner. It is the primary need of every organization to avoid micro-management. However, in most of the cases there are some employees who can only be productive under strict supervision, which we can call as micro-management. Still you can avoid micro-management and it is very simple if you follow these simple steps:
1) You must trust your employees and allow them to do the work in their own way as long as they perform according to the standards.
2) Allow your employees to take minor decisions in their day to day work and get involved only in bigger decision making where they might need your assistance.
3) A person always learns from his mistakes, so do not be harsh or penalize your employee if he does make some mistake in his work, rather give him proper training so that he does not repeat the same mistake again.
4) Try to motivate your team. Micro-management has its own pros and cons but it is always beneficial to keep your employees happy and stress free, as it ultimately leads to productive and profitable business.
It is therefore better to avoid micro-management in most of the circumstances.
ABOUT THE AUTHOR
Ryan Fyfe is the CEO of http://www.shiftplanning.com/ - An intuitive and free online employee scheduling tool for businesses of all sizes in all industries.
Monday, July 16, 2018
Effective Management of your business Through Planning
Planning is one of the functions of management. It touches all the levels of business management. There are many reasons why your business should have a plan. Get to learn how an effective one should be like.
One of the most important functions of management is planning. Without it, your business is heading to nowhere. It is said, “If you don’t know where you’re going, no road gets you there.” When you plan, you’re said to be thinking before doing and deciding in advance what is to be done.
Planning is all about how it’s to be done, when it’s to be done and who is to do it. Haimann says, “Planning is deciding in advance what is to be done, when a manager plans, he projects a course of action for the future, attempting to achieve a consistent, coordinated structure of operations aimed at the desired results.”
Planning makes your business management to achieve its objectives without many problems as it provides a focused guidance. Your business stays away from aimless activities. Your business uncertainties are greatly minimized.
Activities are run orderly and purposely. They are done in the possible minimum time. The departments of your business do not experience any wastage of resources. Your business operates economically and efficiently. Planning makes your business to be in control. It clearly specifies the targets to be achieved.
Through planning, your business is able to adopt technical development. Obsolete and old machines are replaced with new ones if you have a plan.
Seven Qualities of a Good Plan
1. It should be Definite and Objective-The statement that lays down your objectives should be clear and definite.
2. It should be Simple-Express it in an understandable language which is not complicated. If you complicate it, your staff won’t interpret it. This results to nothing done in your business.
3. It should be Comprehensive-Make it to be detailed with all the necessaries that are required in the attainment of the objectives.
4. It should be Flexible-If you make your plan to be rigid, then it won’t be able to accommodate the future uncertainties of your business. Instead, make it broad enough to meet the challenges that occur in the future.
5. It should be Economical-Make it to recover its costs. It should result in the least operating costs.
6. It should Establish Standards-Your plan should lay down the standards to be achieved. Use these standards to compare with the actual performance achieved. If there are any deviations, then you should note them down for later corrections.
7. It should be Practicable-Make your plan to be realistic. When formulating it, keep in view the limitations of planning.
Now you know how important this function of management is. Go ahead and have a good plan.
By:Nyamache
ABOUT THE AUTHOR
You search and search… then you find it! You say, "This is what I have been searching all along." This is the Sbi reviews from successful online entrepreneurs who are using it. Change your life today and also discover how it has changed many lives by clicking the link. http://affiliate.nikenya.com/affiliate-ebook-marketing-reviews/sbi-reviews/
One of the most important functions of management is planning. Without it, your business is heading to nowhere. It is said, “If you don’t know where you’re going, no road gets you there.” When you plan, you’re said to be thinking before doing and deciding in advance what is to be done.
Planning is all about how it’s to be done, when it’s to be done and who is to do it. Haimann says, “Planning is deciding in advance what is to be done, when a manager plans, he projects a course of action for the future, attempting to achieve a consistent, coordinated structure of operations aimed at the desired results.”
Planning makes your business management to achieve its objectives without many problems as it provides a focused guidance. Your business stays away from aimless activities. Your business uncertainties are greatly minimized.
Activities are run orderly and purposely. They are done in the possible minimum time. The departments of your business do not experience any wastage of resources. Your business operates economically and efficiently. Planning makes your business to be in control. It clearly specifies the targets to be achieved.
Through planning, your business is able to adopt technical development. Obsolete and old machines are replaced with new ones if you have a plan.
Seven Qualities of a Good Plan
1. It should be Definite and Objective-The statement that lays down your objectives should be clear and definite.
2. It should be Simple-Express it in an understandable language which is not complicated. If you complicate it, your staff won’t interpret it. This results to nothing done in your business.
3. It should be Comprehensive-Make it to be detailed with all the necessaries that are required in the attainment of the objectives.
4. It should be Flexible-If you make your plan to be rigid, then it won’t be able to accommodate the future uncertainties of your business. Instead, make it broad enough to meet the challenges that occur in the future.
5. It should be Economical-Make it to recover its costs. It should result in the least operating costs.
6. It should Establish Standards-Your plan should lay down the standards to be achieved. Use these standards to compare with the actual performance achieved. If there are any deviations, then you should note them down for later corrections.
7. It should be Practicable-Make your plan to be realistic. When formulating it, keep in view the limitations of planning.
Now you know how important this function of management is. Go ahead and have a good plan.
By:Nyamache
ABOUT THE AUTHOR
You search and search… then you find it! You say, "This is what I have been searching all along." This is the Sbi reviews from successful online entrepreneurs who are using it. Change your life today and also discover how it has changed many lives by clicking the link. http://affiliate.nikenya.com/affiliate-ebook-marketing-reviews/sbi-reviews/
Why Are Top Management Professionals Important For any Business?
Management Professionals are required for a successful business venture .People who are capable enough to take right and sound decision for companies business with the high skilled and knowledge .
The top management is made up of those individuals who have got the right experience, enough experience to handle the entire business, make decisions, and implement processes. While a business can function without a top management, it does so haphazardly. Without the lower level executive being guided into their job role, and without any authority deciding this fact of who can do what in a work environment, the haphazard situation remains.
The smooth organizational operations and the smart decisions come from Top Management Colleges. The management professionals who have passed out form the top b school of India or are from the best college for PGDM are habituated into this sphere as they need to grow into managerial roles over the year they get trained. General Managers, CEOs, COOS or other managers who make serious decisions in the organization are made of the top management. The top professionals are the cream of the corporate world, and the smooth operators of their corporate race.
9 Reasons Top Management Professionals Are Important
1.Establish a Professional Decorum and Ensure Executives & Managers Don’t Cross Their Lines
When miscommunications are hovering in the work environment, the air seems murky enough to breathe. In such an environment people don’t grow into professionals, but the miscommunication brewing stunts the growth. To keep clearing the air of miscommunications, one should have meetings between the people who have the conflict going. The top management does this collaborative act to incorporate peace in the workings of the work environment
2.Improvise on the Revenue and Generate Profits for sustainable growth
The main prerogative in keeping someone at the top is to get business and with sustainable growth. To improve on the incoming revenue, and get that liquid cash into the pocket for the regular business running, one needs the apt benchmark coming from the top. While keeping targets and increasing the targets to reach that yardstick unachievable without a top management, the revenue percent keeps increasing with a professional sitting at the top
3.Maintaining Responsibility and then accountability
When in a family there is a patriarch who owns the responsibility of the family members, and then takes accountability in getting them educated. Similarly, when the top management needs to launch a product into the market, one of the many scenarios in a business environment, they will take the whole responsibility of making the product launch a huge success, and will take the accountability if the market launch didn’t work out the way it should have been implemented.
4.Promoting Respect and Earning The Same
Executives have personal conflicts that seem to appear at the professional front at times. While we need to balance out this work-life scenario, we need to respect every individual, and understand that every employee is different and incomplete. To endorse this behavior into the work environment and promote by incorporating the same into the top management’s personality, they earn followers & then respect
5.Minimizing Conflict and Encouraging Interpersonal Interactions
Despite the fact that the lower level executives have several conflicts, the top executives show their conflicts through innumerable ways. Email conversations proving a point or project analysis getting a long criticism are a few of the ways middle level and top executives show conflicts. To lighten the mood & ensure a good working environment, interpersonal interactions with loads of activities should be integrated onto the working bay.
6.Maintains the Corporate Culture
The top management has to imbibe the culture of the organization as and when it changes to make others follow the same. To maintain and develop an ethical corporate culture, the top executives need to be ethically inclined into the culture of the organization. A corporate ready individual from the best college for PGDM inculcates a good corporate culture.
7.Follows Company Goals and Implements them into your Daily tasks
The top executives don’t just understand the written policies, while the vision & mission of the company aren’t just 2-3 liners to be added onto the first few sheets of your presentations, but these company goals are bigger goals lying in front of you to create your mini goals.
8.Asset Management and Support the Infrastructure
The top management ensures the utilization of the resources in apt ways, and support the entire gamut of operations to ensure work happens smoothly.
9.Inspiration and Motivation
Finally, the most important need of a top management is to give a pat on the back for their juniors need motivation and thus ensure effective work happening in the organization. Motivation is the tool for top executives to transmute the work into appreciation, and this will only create followers.
iFEEL Institute Produces Top Management Professionals
It’s too early to decide if the iFEEL institute could take on the top executives, nevertheless there have been cases where the top management has young professionals without any experience. As leadership and entrepreneurship are the two focus areas in the PGDM program of the iFEEL Institute, the possible outcome in the coming years could be a flow of iFEEL alumni into the top positions of the top brands. iFEEL is amongst the Top MBA Colleges in Pune Eventually, the growth of a professional is an increasing graph to the top, and when iFEEL credentials are stamped on your certificate, it surely does comes from one of the Top B schools in Mumbai.
ABOUT THE AUTHOR
My name is Twinkle dsouza . I mainly write for Modern Education structure and their programs specially for PGDM/MBA programs in Mumbai and Pune .
The top management is made up of those individuals who have got the right experience, enough experience to handle the entire business, make decisions, and implement processes. While a business can function without a top management, it does so haphazardly. Without the lower level executive being guided into their job role, and without any authority deciding this fact of who can do what in a work environment, the haphazard situation remains.
The smooth organizational operations and the smart decisions come from Top Management Colleges. The management professionals who have passed out form the top b school of India or are from the best college for PGDM are habituated into this sphere as they need to grow into managerial roles over the year they get trained. General Managers, CEOs, COOS or other managers who make serious decisions in the organization are made of the top management. The top professionals are the cream of the corporate world, and the smooth operators of their corporate race.
9 Reasons Top Management Professionals Are Important
1.Establish a Professional Decorum and Ensure Executives & Managers Don’t Cross Their Lines
When miscommunications are hovering in the work environment, the air seems murky enough to breathe. In such an environment people don’t grow into professionals, but the miscommunication brewing stunts the growth. To keep clearing the air of miscommunications, one should have meetings between the people who have the conflict going. The top management does this collaborative act to incorporate peace in the workings of the work environment
2.Improvise on the Revenue and Generate Profits for sustainable growth
The main prerogative in keeping someone at the top is to get business and with sustainable growth. To improve on the incoming revenue, and get that liquid cash into the pocket for the regular business running, one needs the apt benchmark coming from the top. While keeping targets and increasing the targets to reach that yardstick unachievable without a top management, the revenue percent keeps increasing with a professional sitting at the top
3.Maintaining Responsibility and then accountability
When in a family there is a patriarch who owns the responsibility of the family members, and then takes accountability in getting them educated. Similarly, when the top management needs to launch a product into the market, one of the many scenarios in a business environment, they will take the whole responsibility of making the product launch a huge success, and will take the accountability if the market launch didn’t work out the way it should have been implemented.
4.Promoting Respect and Earning The Same
Executives have personal conflicts that seem to appear at the professional front at times. While we need to balance out this work-life scenario, we need to respect every individual, and understand that every employee is different and incomplete. To endorse this behavior into the work environment and promote by incorporating the same into the top management’s personality, they earn followers & then respect
5.Minimizing Conflict and Encouraging Interpersonal Interactions
Despite the fact that the lower level executives have several conflicts, the top executives show their conflicts through innumerable ways. Email conversations proving a point or project analysis getting a long criticism are a few of the ways middle level and top executives show conflicts. To lighten the mood & ensure a good working environment, interpersonal interactions with loads of activities should be integrated onto the working bay.
6.Maintains the Corporate Culture
The top management has to imbibe the culture of the organization as and when it changes to make others follow the same. To maintain and develop an ethical corporate culture, the top executives need to be ethically inclined into the culture of the organization. A corporate ready individual from the best college for PGDM inculcates a good corporate culture.
7.Follows Company Goals and Implements them into your Daily tasks
The top executives don’t just understand the written policies, while the vision & mission of the company aren’t just 2-3 liners to be added onto the first few sheets of your presentations, but these company goals are bigger goals lying in front of you to create your mini goals.
8.Asset Management and Support the Infrastructure
The top management ensures the utilization of the resources in apt ways, and support the entire gamut of operations to ensure work happens smoothly.
9.Inspiration and Motivation
Finally, the most important need of a top management is to give a pat on the back for their juniors need motivation and thus ensure effective work happening in the organization. Motivation is the tool for top executives to transmute the work into appreciation, and this will only create followers.
iFEEL Institute Produces Top Management Professionals
It’s too early to decide if the iFEEL institute could take on the top executives, nevertheless there have been cases where the top management has young professionals without any experience. As leadership and entrepreneurship are the two focus areas in the PGDM program of the iFEEL Institute, the possible outcome in the coming years could be a flow of iFEEL alumni into the top positions of the top brands. iFEEL is amongst the Top MBA Colleges in Pune Eventually, the growth of a professional is an increasing graph to the top, and when iFEEL credentials are stamped on your certificate, it surely does comes from one of the Top B schools in Mumbai.
ABOUT THE AUTHOR
My name is Twinkle dsouza . I mainly write for Modern Education structure and their programs specially for PGDM/MBA programs in Mumbai and Pune .
Business Management Principles
If you happen to be a small business owner, business management should be a leading priority. Business management could be defined as the process of planning, directing and controlling a company. Business management is used to successfully address and fix the problems that a business might be having in establishing its role as an organization, which delivers and generates value. Creating and offering value for the customers of a company will allow that business' profits to exceed the total costs of operating that business.
Business management is going to include advertising, finance, accounting, production, human resources, product research and development as well as management information systems. To manage your own company, you will need to have expert knowledge in all of these fields. Larger businesses and companies generally have different managers throughout the company for each of the fore mentioned business management areas. For example, large companies will have an advertising and marketing manager, finance manager, accounting manager and so on. However, there are some small business owners who are going to want or need to take on all of these positions themselves.
Some small business owners will simply be unable to afford all of these different employees. Other small business owners may perhaps simply want to take care of the business management on their own. Of course, there are quite a few small business owners who don't want to entirely take business management into their own hands and will hire employees to be leading managers. Any small business owner who decides to take business management concerns into their own hands needs to remember that this is a substantial job and the work will generally be tedious.
Business managers will need to be able to recognize the talents and weaknesses of their company in relation to other businesses in their industry. They must also be able to set objectives and goals for the business and implement the business plan or strategy. A manager must also be able to alter business plans and strategies if they must be revised.
Business management also includes ensuring that all employees are properly trained and have a good attitude. The employees will need to be educated on all of the goals of a company so that they can help to achieve these goals. Whether you hire qualified personnel to assist you with managing your company or decide to take on all of the managing yourself, business management is highly crucial to the vitality of your business.
By: Patrick Daniels
ABOUT THE AUTHOR
Create the most of your business skills with six sigma. Getting six sigma training will benefit yourself in addition to your business. To learn more visit sixsigmaonline.org.
Business management is going to include advertising, finance, accounting, production, human resources, product research and development as well as management information systems. To manage your own company, you will need to have expert knowledge in all of these fields. Larger businesses and companies generally have different managers throughout the company for each of the fore mentioned business management areas. For example, large companies will have an advertising and marketing manager, finance manager, accounting manager and so on. However, there are some small business owners who are going to want or need to take on all of these positions themselves.
Some small business owners will simply be unable to afford all of these different employees. Other small business owners may perhaps simply want to take care of the business management on their own. Of course, there are quite a few small business owners who don't want to entirely take business management into their own hands and will hire employees to be leading managers. Any small business owner who decides to take business management concerns into their own hands needs to remember that this is a substantial job and the work will generally be tedious.
Business managers will need to be able to recognize the talents and weaknesses of their company in relation to other businesses in their industry. They must also be able to set objectives and goals for the business and implement the business plan or strategy. A manager must also be able to alter business plans and strategies if they must be revised.
Business management also includes ensuring that all employees are properly trained and have a good attitude. The employees will need to be educated on all of the goals of a company so that they can help to achieve these goals. Whether you hire qualified personnel to assist you with managing your company or decide to take on all of the managing yourself, business management is highly crucial to the vitality of your business.
By: Patrick Daniels
ABOUT THE AUTHOR
Create the most of your business skills with six sigma. Getting six sigma training will benefit yourself in addition to your business. To learn more visit sixsigmaonline.org.
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