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Functions of management
- 1. Amit Kaushik 1 90% Of Indian Startups Fail Within The First 5 Years: An IBM And Oxford Study 7 Main Reasons of Startup Failures In India 1. Building a wrong product 2. Assembling of wrong group. 3. Wrong offers. 4. Wrong Launch timings. 5. Neglecting to pivot/alter course. 6. Wrong social environment. 7. Absence of Innovation.
- 2. Amit Kaushik 2 Management It is an art of creating an environment in which people can perform and individuals and can co- operate towards attainment of group goals. Planning Organizing Leading Controlling Functions of management
- 3. Ensures goals and objectives will be achieved in an effective and efficient manner Daily operational management. Achieve the goals that have been defined by top management. Strategy Management. Amit Kaushik 3 Different types of Managers There are four different types of managers with different roles and responsibilities.
- 4. Amit Kaushik Strategy Management Process & Tools It is about the strategies that managers carry to achieve better performance. Management Strategic Management PESTLE Organizing Strategy Formulation Porter’s Five Forces BCG Matrix Smart Goals and Objectives Principles of Management Tuckman’s Group Development Model Planning Situation Analysis SWOT ControllingLeading 4 Strategy Implementation Evaluation & Control
- 5. Amit Kaushik 5 Planning A plan is like a route map, outlining where you are now, where you want to be and how you are going to get there. Without a plan it’s hard to measure performance and deliver results.
- 6. Amit Kaushik 6 SWOT Analysis Identifies strengths, weaknesses, opportunities and threats for an organization. 6
- 7. Amit Kaushik 7 Environmental Determine all influencing surrounding environment factors. [climate, weather] Technological Pertain to innovations in technology that may affect the industry. [Mobile Industry] Social Scrutinize the social environment of the market. [cultural trends, population analytics] Economic Determine an economy’s performance that directly impacts a company. [Inflation Rate] Political Determine government actions which influence industries. [Taxes & Duties] Legal These factors have both external and internal sides. There are certain laws that affect the business environment. PESTLE Analysis Moreover, this concept is used as a tool by companies to track the environment they’re operating in or are planning to launch a new project/product/service etc.
- 8. Porters Five Forces Framework is a tool for ANALYZING competition of a business. Amit Kaushik 8
- 9. Amit Kaushik 9 Market Share MarketGrowth 100% 80% 60% 40% 20% 20% 40% 60% 80% 100% BCG Matrix It's a very useful tool if you want to allocate financial Resources, operational costs, or marketing resources to a business unit, within the organization. Amit Kaushik 9
- 10. Amit Kaushik 10 COST LEADERSHIP Efficiency. Cost Reduction. Leverage Experience. DIFFERENTIATION Product & Services. Location. Timings. Relationships. Porter’s Model of Generic Business Strategies Porter is claiming businesses either need to differentiate or obtain cost leadership.
- 11. Amit Kaushik 11 Porter’s ROI Gap Business which stuck in middle have to settle on below average ROI. ROI 100% 80% 60% 40% 20% Differentiation Stuck in Middle Cost Leadership
- 12. Amit Kaushik 12 Organizing Organizing at the level of the organization involves deciding how best to departmentalize, or cluster, jobs into departments to coordinate effort effectively.
- 13. Amit Kaushik 13 Keep Satisfied Monitor (Minimum Efforts) Manage closely Keep Informed POWERLEVEL INTEREST LEVEL LOWHIGH LOW HIGH Customers Employees Suppliers Share holders Media Competitors Consumer Groups Government Stakeholders Any person or organization who can be positively or negatively impacted by or cause an impact on actions of a company.
- 14. Amit Kaushik 14 Amit Kaushik Career pathways Clear Authority Qualification Separation. Performance Rules Fixed Divisions Hierarchy Principles of Management 14 Principles of Management
- 15. Amit Kaushik Principles of Manage ment Social Aspects Communication Skills Leadership Skills 15 Qualities of a Good Manager
- 16. F O S T E R Foundation Importance of organisation’s values, ethics and mission, to both the organisation and the stakeholder. Organisational alignment Get your systems and processes aligned, to focus upon collaboration and to remove barriers. Stakeholder strategy Create an action plan to maximise the fit between the organisation and the stakeholder. Trusting relationships Communicate effectively, especially to identify and resolve conflicts openly and productively. FOSTERING Developed by Svendsen (1998), FOSTERing stakeholder relationships as a six-stage process. Evaluate relationships Ask them how things are going and the extent to which their needs are being met. Repeat Maintain the relationship by constant cycling through this list.
- 17. The art of persuasion There are 6 Principles of Persuasion 6 Principles of Persuasion
- 18. Amit Kaushik 18 Stages of recruitment and selection. Here are two diagrams which show the different stages involved. Job analysis Job Description Person specificatio n Advertisem ent Recruitment START Short listings Further selection Process Job offer and acceptance Interview Selection END
- 19. Amit Kaushik 19 Induction into a new job Induction help people to start work, settle in and quickly become an active contributor and member of your team. Introduction to Organization Job Position Performance and work schedule Compliance Financial benefits Safety and security Provide an overview of the organization to the new employees.. Educates new employees on the laws, regulations and company policies applies to their role.. Explain the role of employees have to play to achieve organizational goals.. Informs the financial benefits and different taxation policies offered. Addresses trainings offered, performance expectations, and the work schedules of the organization. Highlights the different safety and security aspects related to the work environment.
- 20. Leading Is the third step that is accomplished by communicating, motivating, inspiring, and encouraging employees towards a higher level of productivity. Amit Kaushik 20
- 21. Amit Kaushik 21 Tuckman’s Group Development Model These phases are all necessary and inevitable in order for the team to grow, face up to challenges, tackle problems, find solutions, plan work, and deliver results. Team Forming Storming NormingPerforming Adjourning
- 22. Amit Kaushik 22 SMART Goals & Objectives Setting goals is easy but achieving them isn't, so make sure they're SMART and you'll have a better chance of success.
- 23. Amit Kaushik 23 Strategic Communication The purposeful use of communication by an organization to fulfill its mission. Identifies key concepts, including audience analysis, goal setting, and message strategy. Manager Manager Downwardcommunication Upwardcommunication Horizontal communication Staff Staff Staff
- 24. Amit Kaushik 24 Barriers In Communication Filtering Selective perception Language Information Overload
- 25. Amit Kaushik 25 Motivation Management Internal and external factors that stimulate desire and energy in people to be continually interested and committed to a job, role or subject, or to make an effort to attain a goal.HierarchyofNeeds
- 26. Amit Kaushik 26 Controlling Is a process which measures and directs the actual performance against the planned goals of the organization.
- 27. Amit Kaushik 27 Managing individual performance Performance management is about making sure that the work done by each member of your team contributes to achieving your overall team objectives. 1. Set aims and objectives 2. Set standards and targets. 3.Set measurement methods 4. Take measurement 5. Compare with standards and targets 6. Make decision : Performance OK? YES 7. Improve performance 8. Check Measurement methods. 9. Check Standards and targets. 10. Check aims and objectives NO
- 28. 1. Building a wrong product 2. Assembling of wrong group. 3. Wrong offers. 4. Wrong Launch timings. 5. Neglecting to pivot/alter course. 6. Wrong social environment. 7. Absence of Innovation. Smart Goals & Principles of Management. Amit Kaushik 28
- 29. Amit Kaushik 29 https://www.surveymonkey.com/r/R23Q8P2 Check your learning.
Editor's Notes
- So, if I ask you to invest 50,0000 in a great business idea, you’re probably going to have some questions you want answering before you say yes.
- Albert Humphrey research project at Stanford University in the 1960s and 1970s. 500 companies to identify why corporate planning failed. “What is good in the present is Satisfactory, good in the future is an Opportunity; bad in the present is a Fault and bad in the future is a Threat.”
- Think about one of your own organisation’s key stakeholders. How successful have you been at Fostering a collaborative relationship with that stakeholder? Give yourself a score of 0–5 against each step of the process, (0 being ‘we don’t have/do this at all’ and 5 being ‘we’ve got this in place and it works really well’).
- 1. To be the first to give and to ensure that what you give is personalized and unexpected. 2. You need to point out what is unique about your proposition and what they stand to lose if they fail to consider your proposal. 3. This is the idea that people follow the lead of credible, knowledgeable experts. 4. The detective of influence looks for voluntary, active, and public commitments and ideally gets those commitments in writing 5. Be sure to look for areas of similarity that you share with others and genuine compliments you can give before you get down to business. 6. Especially when they are uncertain, people will look to the actions and behaviors of others to determine their own.
- 1.Job analysis What is to be done? When is it to be done? Where is it to be done? How is it to be done? 2. job description Job title Job grade Accountable to Number of staff supervised/reporting to postholder Summary of main responsibilities and activities Detailed duties and responsibilities (the main part of the document). 3.Person specification Qualifications Technical skills Personal skills Experience required Knowledge Organisational requirements Special circumstances. 4.Advertisement Recommendations from existing staff Internal advertising – email, intranet, newsletter, etc. Headhunters/executive search consultants Newspaper and ‘trade press’ advertising Internet and social media State-supported job centres Employment agencies. 5.Interview could do the job – assessment against the person specification would do the job – judgements of motivation and commitment would fit – elements of person-organisation fit.
- Take a look at this control loop diagram. It shows that, if performance is not OK, one course of action is to improve performance (Box 7). But are your performance measurement methods (Box 8) the right ones in the first place? And are they being applied effectively? Perhaps the standards and targets are no longer appropriate (Box 9), or the aims and objectives are no longer required (Box 10).