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The document discusses three skills that are important for an effective executive: 1. Conceptual skills - The ability to understand complex situations and see the big picture. This includes skills like strategic thinking, problem solving, and decision making. 2. Human skills - Skills for motivating, communicating with, and developing people. This involves skills like leadership, team building, and coaching. 3. Technical skills - Expertise in a specific business function like finance, marketing, or operations. While not as important as conceptual and human skills, technical skills are still needed for credibility.

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Skills of an Effective Executive Robert L Katz
3 skills to kill for an exec.. characteristics Development Technical Interaction Skills Inter groups • Implication Understanding Motivation – Judge on Action not trait Communication Attitude to self Creativity Whole view experiences Coaching – Select on skills not traits or Recognize feelings Multi skilling Enlargement Human Conceptual Involvement in tasks behavior Skills Skills • Leads to 3 roles – Remedial Conceptual Intensity • Conceptual + technical – Maintenance Human • Human Technical – Innovate • Concept + Intergroup Low Level Hi
Managing ones boss • Know the boss • Some errors – As a person – Info at face value – Goals & principles – Assumptions & extrapolations – SWOT – No clarification – Work style • To build a relationship • Know yourself – compatible work styles – Style • Accommodate diffs – Dependence – Mutual expectations • Counter dependence • Maintain realism • Over Dependence • Subordinates problems? – Flow of information – Honesty / transparency – Outcomes • Good use of time / resources Peter Drucker on leadership >> good readers and listeners.
Effects of Fear – Carl R Rogers • Experiences are…[defense mechanisms] – Symbolized [in relation to self] – Ignored – no relation to self – Denied / distorted – inconsistency Gestalt theory >> helps in understanding oneself better ?!
Giving Feedback – Philip G hanson • Builds impression of • Issues in feedback – Trust care & acceptance – Indirect VS Direct • Purpose of feedback – Interpretation VS description – Individual correction • puts person on defensive – Group goals – Evaluation VS Non Evaluation – General VS Specific • Feedback can be – Pressure VS Freedom to change – Bipolar [2 directional] • Send feelings and recipient should – Uni polar [1 directional] own resistance to change – Delayed VS Immediate – External VS Group Shared • Then & there, group observes consistency – Imposed vs Solicited – Unmodifiable vs modifiable behavior • Only on when it can change – Motivation > Hurt VS Help
Creating a good relationship 1. Be what you are [congruent] 1. Let other person be what she 2. Be transparent is 3. Feeling for the other person 2. Be individual / independent 4. Do not be influenced by your 3. Do not be threatening condition when applying to 4. Abstain from external others evaluation 5. Don’t be bound by the past 5. Understanding / empathy while judging
Transaction Analysis 1957 – Eric Berne [1910 – 1970] • Types of Transaction analysis – Structural Analysis – Game Analysis – Script Analysis – TA proper Kurt Lewin Father of Organization behavior
Structural Analysis [TA] 3 ego states • Parent – Limits / discipline / traditions / advice / guidance / rules / law – TYPES >> Nurturing Parent / Critical Parent • Adult – Logic / Rational / Analysis • Child – Creativity / adaptations / compliance / withdrawal / procrastination / rebellion – TYPES >> natural / adapted / Little professor • Some issues in structures – Contamination of ego states leading to • Prejudices [parent] • Hallucinations Delusions [child] – Exclusions • Reliance only on 1 ego state
TA Proper Types • Simple – Complementary, Crossed • Complex – Angular, Duplex • Rules to communication 1. Complementary transaction leads to open communication 2. Crossed transaction leads to closure of communication 3. Transactions can only be predicted in psychological level not social 4. Value of communication depends on receiver [ summerton – 1988] Script Analysis is about games people play
TA proper ..continued • Life positions • Strokes [ social – I’m OK you’re OK recognition unit] • Only conscious position [best] – External / Internal [self] – I’m OK you’re not OK – Positive / Negative • Misplaced power / superior – Conditional / Un conditional – I’m Not OK you’re OK – No strokes [ worst case] • Inferiority Summerton – I’m Not OK you’re Not OK UnConditional Stroke 4 stroke combo +ve • Worst case / psycho -ve -ve +ve Conditional Stroke
Attitudes > evaluative statements or judgments concerning people events or objects Some principles • 3 parts to an attitude • Consistency – Cognitive [beliefs] – Seek bw attitude & behavior – Affective [attitudes] • Cognitive dissonance – Behavioral [behavior] – Inconsistency bw A & B • Common Attitudes in – Elements of dissonance management – Degree of influence– elements – Job satisfaction – Reward with dissonance – Job involvement • Self perception Theory – Organization commitment – Attitudes can be used to make sense • Acquiring Attitude out of action – Modeling – B-> A is stronger than A -> B – Reward and punishment • Attitude surveys – Early exposure – Help understand stance of people – Personality towards objects. Lyndon Johnson – Vietnam War [Escalation of commitment]
Perception > interpretation of situations Sub steps of perception Perceptual Organization Stimulus Registration Overt Behavior Figure Ground >> perceived Leads to Interpretation Covert Behavior objects stand out from background Feedback Perceptual Group •Closure [gestalt] > perceiving as a Perceptual Selectivity whole Subliminal perception – below the threshold •Continuity – things in continuum Factors that effect selectivity are •Proximity – imparting closeness External Size Perceptual constancy >> stability Internal Contrast results from a pattern of cues Intensity Repetition Novelty Motion Perceptual context >> The Familiarity situation Perceptual set Motivation Learning > expectancy to perceive Personality > Age & time frame
Perception > interpretation of situations What leads to perception Needs Trained Incapacity Perceptual Defense Interests Beliefs Tendencies Mental set [expectations] Happens againt threats, [self concepts] unacceptable explanation , inconsistencies Emotionally disturbing information >> Has high threshold of Biases in perception recognition HALO >> one characteristic Doppel Ganger >> similar characteristics Disturbing information / stimuli >> Stereotypes > grouping substitute perception Projections >> Ourselves onto others Defense >> when there is Inconsistency & Emotionally arousing information threat >> Leads to directed behavior
Motivational Theories • Need >> Zimbardo 1979 • Maslows hierarchy of needs – Biological psychological motive • Re inforcement Theory [ condition serves to direct thorndike - How effect] individual towards a goal • Definition >> • Ahievement / affiliation Power – Social or psychological condition – Mc Lelland that • ERG Theory – Willingness to exert effort towards • Mc Gregors - Theory X & some goals objectives Theory Y • Unsatisfied needs arte • Victor Vrooms Theory > motivators and vice versa expectancy • Increase thresholds of needs • Adams equity theory to retain motivation • Goal Setting theory
Maslows hierarchy of needs • Maslows hierarchy of needs Variation in – Akin to 7 chakra model of hinduism Maslows theory • There are 6 levels of needs Self actualization – Physiological / safety / social / esteem / self may not arise actualization Higher needs • Some rules activated without – Lowers need satisfaction leads to higher level lower level needs needs – Fixity of hierarchy of needs – Relative satisfaction – Importance of gratification > seed need is not a motivator
Achievement Power Affiliation • Proposed by Mc Lelland – Related to managerial effectives [n] • Achievement [task oriented] Need for knowledge •Search for meaning – Excel; succeed; challenges; evaluation; •Cognitive >> desire to personal credit know • Power •Conative >> desire to – Dominate; influence command ones way; in- understand charge status prestige influence delegation 3 levels of learning • Affiliation •Sharavana [effort / – Grouping inter-relatedness cooperation memorising] acceptance •Manana [mind / • High N-ach reflective ] •Dhyana [meditative / • Set high but carefully planned goals concepts] • Think of alternatives • Knowledge of Self
ERG Theory • Propounded by ALDERFER • There are levels of needs – There is no hierarchy of needs – More than 1 level of need at a given time • Frustration Regression – Unfulfilling of certain needs leads to regression into lower levels
Herzberg’s 2 Factor Theory • Motivators [extrinsic] • Hygiene factors [intrinsic] – Neutral to absence – Neutral to presence – Positive to presence – Negative to absence • Responsibility • Work conditions • Achievement • Inter personal relations • Advancement / Growth • Super vision • Challenges • Salary • Work • Job security • Recognition • Admin & policies
McGregors – Theory X & Theory Y • Theory X – People are • Theory Y - People are – Intrinsically lazy – Energetic – Dislike Work – Positive to work – No creativity – Love doing new things – Little Ambition – Self motivated • Need • Need – Coaxing – Facilitation – Control – Accountability – Little Authority – Delegation – Direction – Freedom
JS Adams – Equity Theory • Equity of output to input is critical • Inequity rises when this is in imbalance • Reactions Here – Change input – Change output There – Change references – Quit? Me Other
Wage determination Process Wage Survey Equivalence matrix >> Differentials in hierarchies in companies Market Accuracy of Data [ bias ] Conditions Valuation of Perquisites Local Wages Job Analysis Wage Survey Job Description Job Evaluation Job Wage level Job Specification Gradation of jobs Performance Performance Payment to Pay Standards Appraisal Employee System
Change Management Kurt Lewin Father of Organization behavior • Conflict Management • Force field analysis – Monitoring / Facilitating / – Kurt Lewin Autonomy – Systems are in eqilibrium of – Expert Approach opposing forces – Facilitator Approach – Increase “FOR” forces • GE Change acceleration – Decrease “ANTI” forces – Unfreezing – Moving – Re- • Mutual Identification freezing – Open Trusting Communication Hi – Commonality of objectives Learning – Indifferent / Common / Hi Oppose Level of differences / conflict
Decision Making Framework Hi STRUCTURED Understanding / Knowledge UNSTRUCTURED RATIONAL POLITICAL Goal Consensus Hi
Jo Hari Window Joseph Luft & Harry Ingham 4 zones Others know me Yes BLINDS PUBLIC ARENA No UNKNOWN DARK PRIVATE FACADE Big Façade >> Interviewer Big Blinds >> Over confidence / No I know Myself Yes Un responsive Big Public >> Open Big Dark >> Closed
Feedback >> my feelings about your behavior Giving Feedback Receiving Feedback • Persons behavior VS himself • Elicit and wait – Focus on behavior – Don’t evaluate or judge • Listen carefully • Controllable vs uncontrollable • Self analyze • Specific vs general • Based on Data vs Impressionistic – Don’t be defensive • Timely vs Late – Don’t rationalize – Receptiveness / respond rather than react / • Clarify • Suggestive vs Prescriptive – Don’t make assumptions • Positive Intent vs Negative Intent – People can get defensive
Market Signals >> action by competition that gives indication of intent or internal situation • Prior Announcements • Divergence from goals – Pre-empting | threats | • Announcing results communication | internal support | test competitors sentiments • Cross Parry – Competitor responds to firm in a • Public discussion on industry different area – Make competition work on same – Caterpillar entering farm assumptions & prevent warfare | equipment vs John Deere explaining action – Fighting Brand | Mr Pibb from • Divergence from industry Coke for Dr peppers precedent – Private anti trust suits
Mergers & Acquisitions • Elbonian investment? [RJR Nabisco] – The investor company becomes a fully owned subsidiary • MBO – Ethical issue of why management did not run the outfit as well? – MBO opportunities arise when there is a spin off thereby leading to chance for increased control by management • What are the value drivers? • Need to understand regulations
Mergers & Acquisitions • Disclosure norms of SEBI • Substantial Acquisition • ICI demerger into ICI and Zeneca • HCL –HP demerger – Avoidance of capital gains • Poison Pill – In case of hostile take over, large amount of shares are given at low prices to share holders • Crown Jewels lockup – In case of hostile bid / take over, core business are sold to a white knight
M & A Definitions • Reverse Acquisition – Poor perform company becomes the transferee in a merger e.g. HT & BT with CW • Divestiture – Selling and opting out of a business e.g. TOMCO • De Merger Spin Off – Recognize internal value by split & free shares for holders ICI >> ICI Zeneca …. • Asset Swap – Exchange of non core for core and delta is dealt in cash. E.g. HLL & Stepan chemicals • Joint Ventures – Make subsidiary with another competent organization HCL – HP etc..
Modes of Evaluation • Fee Cash Flows [DCF ] – Standard – EBIT [1-T] – WACC [ computed for each year ] • Equity Cash Flows KeL – ECF = EAT – Principle repayment == EBIT[1-T] – I[1-T] – Principle payment == EBT[1-T] – principle payment – Discounted at leveraged KeL using net CF of interest & principal payments – from a pure equity perspective • Capital cash flows KeU – CCF == EBIT [1-T] – I – FCF + IT and discounted at Ke un-levered using assets. – Interest added back to FCF , cost of un-levered equity
Derivatives Why Derivatives Asymmetric legal conditions Avoid transfer of value by internally generating funds Value of delta Debt capacity Forward Contract Cost of fund should equal the value of stock So, F = S e^(rT) if dividends are there then F = S e^(rT) –D e^r(T-t)
Strategic Intent • An objective goal for the firms future strategy formulation and implementation • Chandler > strategy through structure • Scott >> looked at stages [OB] • Utter back >> Process innovations • Hammer >> BPR • Lawrence and lorsch >> differentiate and you will integrate.
S Tilles Strategy Model Resource Consistency Internal External Goals / Means Consistency Consistency Risk
Strategy Execution Peter Drucker H Ansoff Wait Assumptions Forward Integration Expand Trade offs Develop Develop Feedback Markets Business Products Review Backward Diversify Integration BPR
Venture Capital Funds • Ideal VC • Ideal Investee – 2-3 rounds of funds – belief 1. Industry space and position – Network capability 2. Management Team – Active Board participation 1. Experience of the team • Corporate governance 3. Family wealth of products – Knowledge of the industry 4. Organization structure 1. Clean simple transparent • Tag along rights 5. Valuation methods – Founder cant exit until VC 1. Not more than 1 year • Mexico syndrome 6. Co investees? – Angels? – VC has rights to change 7. Exit Opportunity management if
Knowledge Processing Strategy. Hi Organization Dispersed - Clusters Specialist Knowledge Level Individual Dispersed - Points Guided Decentralized Centralized Hi Implementation Responsibility
7 Cs of Communication • Completeness > 5 Ws and H • Correctness > right languages, facts, figures • Concise > non repetition, wordy • Consideration >positive, pleasant, focus on U • Concreteness > vivid, right facts • Clarity > quirks , visual, illustration • Courtesy > sincere, thoughtful appreciative
Business Communication 78% of time and 67% of effort of a manager are in communication • SMCR Model by Berlo 1966 • Shannon Weaver Model – Source • Elements – Message > Content Encoding – Source Decoding – Transmitter – Channel – Signal – Receiver – Receiver – Effect > in attitude knowledge – Destination behavior – Feedback • Communication • 2 types of situations Misconceptions – Homophily > source and receiver are similar – Is a fringe benefit – Heterophily > source and receiver – Is message sending are dissimilar – Managers control communication!
Human Brain Left Side - linear Right Side - simultaneous Speech Emotions Logic Relations Language
Communication – assessing the receiver • How will receiver benefit • What is the receivers status and standing • What is the receivers level of knowledge – language / context / facts • Receivers interests and concerns • Receivers context and environment • Secondary receivers ?
Communication - Perspectives • What channel? • Oral Communication – Write – Intra personal > Listening • For records, user is busy, observing facts / info, complicated info – Interpersonal > Interviewing with details / costs – Small group > Meeting – Speak – Multi group > Presentation • Interactive, groups, personal, relationship building, sensitive – Public > oration matter
Communication – Listening 45% Listening | 30% Speaking | 16% Reading | 9 % writing • 5 Activities in Listening • When is listening poor? – Sensing Interpreting Evaluating – Faking attention Remembering Responding – Avoiding difficult situation • Listening Key concepts – Tolerating distraction – Hearing Perception Discrimination – Majoring in minors Attention sound isolation language – Criticizing speaking style Meaning Evaluation Retention – Wasting time differential Response • How to improve listening? • 4 Types of listening – Having Focus – Content | Critical | Empathetic | Active – Digging > asking more questions • 4 types of listeners – Tracking > following & relating – Content | Action Oriented | People – Reflecting | Dampening Oriented | Time oriented – Redirecting if there are distractions – Jotting down ideas – Not interrupting – Summarize and evaluate
Non Verbal Communication Proxemics Types Body movements – kinesics Space – Proxemics Time – Chronemics Paralanguage < 1.5’ Touch color objects graphics intimate <4’ Kinesics Personal <12’ Business / Facial Eye Contact Gestures Social <12’ Postures Public Para Language Expressions / Quirks like ohs ahs Speed intensity rate pitch
Kinesics in detail [NVC] • Arms Folded • Eyes – High tight leans forward > – Straight look > interest resentment / rejection consideration – Loose low easy + smile ? Jovial – Shifty drops eyes > don’t rely receptive – Looking upwards / rapid blink > • Shoulders serious but working details – Slouched / bent down > weak – Raising 1 eye brow > disbelief – Raising 2 eye brow > surprise • Hands over eyes > ashamed – Winking one eye > flirtation • Slapping forehead > forgotten – Winking with nod and smile > • Fingers together in front > agreement confidence • Drumming fingers > • Position changes • Foot signals
Interview process Guidelines • Phases • Interviewer – Warming | Main | Wrap up – Plan for | Put interviewee at ease | Make purpose clear | • Types several Guide | Let talk | Listen | – Exchange [info, feelings, exit ] Record | End – Evaluation [job, performance] • Interviewee – Persuasion [counsel, persuade] – Prepare | Proper appearance | show interest | Answer – Control [discipline, conflict completely correctly | resolution] Courtesy
20 ways to interview success 1. Prepare Qs with purpose 1. Listen ad observe 2. Scout motto – prepared 2. Keep eye contact 3. Jot down main Qs 3. Don’t fear silences 4. Ensure no distraction 4. Have easy right pace 5. Ease the interviewee 5. Ask searching questions > be 6. Take control calm and fact driven 7. Give meeting plan 6. Don’t psychiatrize 8. Ask easy simple Qs 7. Avoid irrelevant references 9. Speak Clearly 8. Take notes 10. Achieve goof rapport 9. Don’t be open ended – TIME 10. End interview with esteem and dignity intact
Meetings & Discussions • 4 Phases • Management todos – Forming – orientation info – Track purpose – Storming – conflict argue – Time Resources – Norming – rules emergence – Motivation cohesion participation – Performing –decision majority • Types • Advantages – Training > orate case simulate – Personal Involvement Share – Panel > expertise listen – Cohesion Coordinate – Sales > experience sharing – Use resources experience – Committee > temp varied – Exposure to PIE – Task > problems issues – Command > communication up down
Negotiations • Prepare • Discussion – Goals – priorities | Limitations – AVOID > interrupting arguing – Gather info > Issues point scoring attacks Blames personalities power facts being clever Talking Sarcasms interests inhibitions threats Shouting – Concessions list – trade offs – PRACTICE > Listen | – Strategy > simple flexible Question | Ask justification | Non Commital | Test – List down tasks commitment | Seek & give info
Negotiations • Signals • Bargain – Avoid concessions of hope | Ask to – DO’s > Firm conditional [state] | decide elaborate | Respond positive | Test exchange and list them up front | bring cause and evaluate stone walling back settled issues | keep unsettled issues linked • Propose – DONTS > separate offer from – Dos > Strong language like we need to conditions | No “If I …Will u “ | separate … | be specific | try and gain response | issues be firm in generals | be flexible in specifics | Remedy | • Close and Agree – Don’ts > grievance | inconsistence | – Formal | Write | List agreement | list weak language | complain | interrupting explanations and interpretations • Package – DON’T’s > not summarizing | not recording | Giving concessions in – List down draggers – concessions closing moments | Not ending inhibition objections | is there room for negotiating concessions | list down conditions
Reporting • Preparation • Introduction [11 elements ] – Define problem purpose – Authorization Problem Purpose – List audience Methodology Sourecs Background • Experience knowledge prejudice Limitation Brief Results Plan of Responsibility Type presentation Scope Definitions – List ideas to include • Text • Hypothesis conditions top – WAC headings – Collect material information • Terminal section • Secondary > magazines news – Summary Conclusions libraries government docs Recommendations • Primary > files minutes interviews – Appendices References surveys – Sort Analyze interpret Results – Organize data – Prepare Outline
Research Paper • Working plan • Documentation Types – Outline – Source Footnotes | Cross reference footnotes | • Prefatory parts Explanatory footnotes – Title | Cover Design | Title page | Letter of authority | • Supplements Letter of transmittal | TOC | – Bibliographies. Table of tables | Abstract – Appendices > support info Synopsis Exec Summary – Glossary > list of special terms – Index > list key words
Management Accounting Purpose Cost Scraper Decisions > Make or Buy Accept or Profit Reject | Resource allocation | Product Mix Other OH Non Mfturing Over heads Sales OH Planning & Control > Costs | Budgets | Performance evaluation Admin OH Mfting OH Full Cost Manufacturing Whether Direct /Indirect >> Over heads InD Labour Conversion Cost significance | Effort of tracing | ideally more direct costs ! Manufacturing Cost Ind Material D Labour Prime Cost D Material
Manacc Thoughts • ABC – Thorndyke > > multiple • Costing Methods cost centers – Cost + Models – When to aggregate costing [when • Fixed fee | Fixed + bonus | Ficed + incentive ….. products spend relatively same • Job Shops | Govt Orders | times in each center] • Full costing > Var + Allocation of – Cost center level determines fixed assets decision making model – Market / Value Based – Cost centers should be • Price - homogenous within • Assembly –batch shops | • Joint products & By Products Competition – Open • Marginal Costing > Sales price | – Even materials and labour are Vars | Volumes [imp to cover fixed indirect costs [do you see chicken costs ] in the bone?]
Variance Analysis Total Variance Output Variance Input Variance Sales Side Budget Side Price Volume Price Qtty Qtty Mix Purchase Qtty mix Mkt Gr Mkt Share
Variance Analysis .. Contd.. • Inefficiency of control should not be taken on the department • Earlier the variance recognition the better • Process of control ends with remedials • Variance bw origin and trace of variance can be used as learnings for future

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Iima notes

  • 1.
    Skills of anEffective Executive Robert L Katz
  • 2.
    3 skills tokill for an exec.. characteristics Development Technical Interaction Skills Inter groups • Implication Understanding Motivation – Judge on Action not trait Communication Attitude to self Creativity Whole view experiences Coaching – Select on skills not traits or Recognize feelings Multi skilling Enlargement Human Conceptual Involvement in tasks behavior Skills Skills • Leads to 3 roles – Remedial Conceptual Intensity • Conceptual + technical – Maintenance Human • Human Technical – Innovate • Concept + Intergroup Low Level Hi
  • 3.
    Managing ones boss •Know the boss • Some errors – As a person – Info at face value – Goals & principles – Assumptions & extrapolations – SWOT – No clarification – Work style • To build a relationship • Know yourself – compatible work styles – Style • Accommodate diffs – Dependence – Mutual expectations • Counter dependence • Maintain realism • Over Dependence • Subordinates problems? – Flow of information – Honesty / transparency – Outcomes • Good use of time / resources Peter Drucker on leadership >> good readers and listeners.
  • 4.
    Effects of Fear– Carl R Rogers • Experiences are…[defense mechanisms] – Symbolized [in relation to self] – Ignored – no relation to self – Denied / distorted – inconsistency Gestalt theory >> helps in understanding oneself better ?!
  • 5.
    Giving Feedback –Philip G hanson • Builds impression of • Issues in feedback – Trust care & acceptance – Indirect VS Direct • Purpose of feedback – Interpretation VS description – Individual correction • puts person on defensive – Group goals – Evaluation VS Non Evaluation – General VS Specific • Feedback can be – Pressure VS Freedom to change – Bipolar [2 directional] • Send feelings and recipient should – Uni polar [1 directional] own resistance to change – Delayed VS Immediate – External VS Group Shared • Then & there, group observes consistency – Imposed vs Solicited – Unmodifiable vs modifiable behavior • Only on when it can change – Motivation > Hurt VS Help
  • 6.
    Creating a goodrelationship 1. Be what you are [congruent] 1. Let other person be what she 2. Be transparent is 3. Feeling for the other person 2. Be individual / independent 4. Do not be influenced by your 3. Do not be threatening condition when applying to 4. Abstain from external others evaluation 5. Don’t be bound by the past 5. Understanding / empathy while judging
  • 7.
    Transaction Analysis 1957– Eric Berne [1910 – 1970] • Types of Transaction analysis – Structural Analysis – Game Analysis – Script Analysis – TA proper Kurt Lewin Father of Organization behavior
  • 8.
    Structural Analysis [TA] 3ego states • Parent – Limits / discipline / traditions / advice / guidance / rules / law – TYPES >> Nurturing Parent / Critical Parent • Adult – Logic / Rational / Analysis • Child – Creativity / adaptations / compliance / withdrawal / procrastination / rebellion – TYPES >> natural / adapted / Little professor • Some issues in structures – Contamination of ego states leading to • Prejudices [parent] • Hallucinations Delusions [child] – Exclusions • Reliance only on 1 ego state
  • 9.
    TA Proper Types • Simple – Complementary, Crossed • Complex – Angular, Duplex • Rules to communication 1. Complementary transaction leads to open communication 2. Crossed transaction leads to closure of communication 3. Transactions can only be predicted in psychological level not social 4. Value of communication depends on receiver [ summerton – 1988] Script Analysis is about games people play
  • 10.
    TA proper ..continued • Life positions • Strokes [ social – I’m OK you’re OK recognition unit] • Only conscious position [best] – External / Internal [self] – I’m OK you’re not OK – Positive / Negative • Misplaced power / superior – Conditional / Un conditional – I’m Not OK you’re OK – No strokes [ worst case] • Inferiority Summerton – I’m Not OK you’re Not OK UnConditional Stroke 4 stroke combo +ve • Worst case / psycho -ve -ve +ve Conditional Stroke
  • 11.
    Attitudes > evaluativestatements or judgments concerning people events or objects Some principles • 3 parts to an attitude • Consistency – Cognitive [beliefs] – Seek bw attitude & behavior – Affective [attitudes] • Cognitive dissonance – Behavioral [behavior] – Inconsistency bw A & B • Common Attitudes in – Elements of dissonance management – Degree of influence– elements – Job satisfaction – Reward with dissonance – Job involvement • Self perception Theory – Organization commitment – Attitudes can be used to make sense • Acquiring Attitude out of action – Modeling – B-> A is stronger than A -> B – Reward and punishment • Attitude surveys – Early exposure – Help understand stance of people – Personality towards objects. Lyndon Johnson – Vietnam War [Escalation of commitment]
  • 12.
    Perception > interpretationof situations Sub steps of perception Perceptual Organization Stimulus Registration Overt Behavior Figure Ground >> perceived Leads to Interpretation Covert Behavior objects stand out from background Feedback Perceptual Group •Closure [gestalt] > perceiving as a Perceptual Selectivity whole Subliminal perception – below the threshold •Continuity – things in continuum Factors that effect selectivity are •Proximity – imparting closeness External Size Perceptual constancy >> stability Internal Contrast results from a pattern of cues Intensity Repetition Novelty Motion Perceptual context >> The Familiarity situation Perceptual set Motivation Learning > expectancy to perceive Personality > Age & time frame
  • 13.
    Perception > interpretationof situations What leads to perception Needs Trained Incapacity Perceptual Defense Interests Beliefs Tendencies Mental set [expectations] Happens againt threats, [self concepts] unacceptable explanation , inconsistencies Emotionally disturbing information >> Has high threshold of Biases in perception recognition HALO >> one characteristic Doppel Ganger >> similar characteristics Disturbing information / stimuli >> Stereotypes > grouping substitute perception Projections >> Ourselves onto others Defense >> when there is Inconsistency & Emotionally arousing information threat >> Leads to directed behavior
  • 14.
    Motivational Theories • Need>> Zimbardo 1979 • Maslows hierarchy of needs – Biological psychological motive • Re inforcement Theory [ condition serves to direct thorndike - How effect] individual towards a goal • Definition >> • Ahievement / affiliation Power – Social or psychological condition – Mc Lelland that • ERG Theory – Willingness to exert effort towards • Mc Gregors - Theory X & some goals objectives Theory Y • Unsatisfied needs arte • Victor Vrooms Theory > motivators and vice versa expectancy • Increase thresholds of needs • Adams equity theory to retain motivation • Goal Setting theory
  • 15.
    Maslows hierarchy ofneeds • Maslows hierarchy of needs Variation in – Akin to 7 chakra model of hinduism Maslows theory • There are 6 levels of needs Self actualization – Physiological / safety / social / esteem / self may not arise actualization Higher needs • Some rules activated without – Lowers need satisfaction leads to higher level lower level needs needs – Fixity of hierarchy of needs – Relative satisfaction – Importance of gratification > seed need is not a motivator
  • 16.
    Achievement Power Affiliation •Proposed by Mc Lelland – Related to managerial effectives [n] • Achievement [task oriented] Need for knowledge •Search for meaning – Excel; succeed; challenges; evaluation; •Cognitive >> desire to personal credit know • Power •Conative >> desire to – Dominate; influence command ones way; in- understand charge status prestige influence delegation 3 levels of learning • Affiliation •Sharavana [effort / – Grouping inter-relatedness cooperation memorising] acceptance •Manana [mind / • High N-ach reflective ] •Dhyana [meditative / • Set high but carefully planned goals concepts] • Think of alternatives • Knowledge of Self
  • 17.
    ERG Theory • Propoundedby ALDERFER • There are levels of needs – There is no hierarchy of needs – More than 1 level of need at a given time • Frustration Regression – Unfulfilling of certain needs leads to regression into lower levels
  • 18.
    Herzberg’s 2 FactorTheory • Motivators [extrinsic] • Hygiene factors [intrinsic] – Neutral to absence – Neutral to presence – Positive to presence – Negative to absence • Responsibility • Work conditions • Achievement • Inter personal relations • Advancement / Growth • Super vision • Challenges • Salary • Work • Job security • Recognition • Admin & policies
  • 19.
    McGregors – TheoryX & Theory Y • Theory X – People are • Theory Y - People are – Intrinsically lazy – Energetic – Dislike Work – Positive to work – No creativity – Love doing new things – Little Ambition – Self motivated • Need • Need – Coaxing – Facilitation – Control – Accountability – Little Authority – Delegation – Direction – Freedom
  • 20.
    JS Adams –Equity Theory • Equity of output to input is critical • Inequity rises when this is in imbalance • Reactions Here – Change input – Change output There – Change references – Quit? Me Other
  • 22.
    Wage determination Process WageSurvey Equivalence matrix >> Differentials in hierarchies in companies Market Accuracy of Data [ bias ] Conditions Valuation of Perquisites Local Wages Job Analysis Wage Survey Job Description Job Evaluation Job Wage level Job Specification Gradation of jobs Performance Performance Payment to Pay Standards Appraisal Employee System
  • 23.
    Change Management Kurt LewinFather of Organization behavior • Conflict Management • Force field analysis – Monitoring / Facilitating / – Kurt Lewin Autonomy – Systems are in eqilibrium of – Expert Approach opposing forces – Facilitator Approach – Increase “FOR” forces • GE Change acceleration – Decrease “ANTI” forces – Unfreezing – Moving – Re- • Mutual Identification freezing – Open Trusting Communication Hi – Commonality of objectives Learning – Indifferent / Common / Hi Oppose Level of differences / conflict
  • 24.
    Decision Making Framework Hi STRUCTURED Understanding / Knowledge UNSTRUCTURED RATIONAL POLITICAL Goal Consensus Hi
  • 25.
    Jo Hari Window JosephLuft & Harry Ingham 4 zones Others know me Yes BLINDS PUBLIC ARENA No UNKNOWN DARK PRIVATE FACADE Big Façade >> Interviewer Big Blinds >> Over confidence / No I know Myself Yes Un responsive Big Public >> Open Big Dark >> Closed
  • 26.
    Feedback >> myfeelings about your behavior Giving Feedback Receiving Feedback • Persons behavior VS himself • Elicit and wait – Focus on behavior – Don’t evaluate or judge • Listen carefully • Controllable vs uncontrollable • Self analyze • Specific vs general • Based on Data vs Impressionistic – Don’t be defensive • Timely vs Late – Don’t rationalize – Receptiveness / respond rather than react / • Clarify • Suggestive vs Prescriptive – Don’t make assumptions • Positive Intent vs Negative Intent – People can get defensive
  • 27.
    Market Signals >>action by competition that gives indication of intent or internal situation • Prior Announcements • Divergence from goals – Pre-empting | threats | • Announcing results communication | internal support | test competitors sentiments • Cross Parry – Competitor responds to firm in a • Public discussion on industry different area – Make competition work on same – Caterpillar entering farm assumptions & prevent warfare | equipment vs John Deere explaining action – Fighting Brand | Mr Pibb from • Divergence from industry Coke for Dr peppers precedent – Private anti trust suits
  • 28.
    Mergers & Acquisitions •Elbonian investment? [RJR Nabisco] – The investor company becomes a fully owned subsidiary • MBO – Ethical issue of why management did not run the outfit as well? – MBO opportunities arise when there is a spin off thereby leading to chance for increased control by management • What are the value drivers? • Need to understand regulations
  • 29.
    Mergers & Acquisitions •Disclosure norms of SEBI • Substantial Acquisition • ICI demerger into ICI and Zeneca • HCL –HP demerger – Avoidance of capital gains • Poison Pill – In case of hostile take over, large amount of shares are given at low prices to share holders • Crown Jewels lockup – In case of hostile bid / take over, core business are sold to a white knight
  • 30.
    M & ADefinitions • Reverse Acquisition – Poor perform company becomes the transferee in a merger e.g. HT & BT with CW • Divestiture – Selling and opting out of a business e.g. TOMCO • De Merger Spin Off – Recognize internal value by split & free shares for holders ICI >> ICI Zeneca …. • Asset Swap – Exchange of non core for core and delta is dealt in cash. E.g. HLL & Stepan chemicals • Joint Ventures – Make subsidiary with another competent organization HCL – HP etc..
  • 31.
    Modes of Evaluation •Fee Cash Flows [DCF ] – Standard – EBIT [1-T] – WACC [ computed for each year ] • Equity Cash Flows KeL – ECF = EAT – Principle repayment == EBIT[1-T] – I[1-T] – Principle payment == EBT[1-T] – principle payment – Discounted at leveraged KeL using net CF of interest & principal payments – from a pure equity perspective • Capital cash flows KeU – CCF == EBIT [1-T] – I – FCF + IT and discounted at Ke un-levered using assets. – Interest added back to FCF , cost of un-levered equity
  • 32.
    Derivatives Why Derivatives Asymmetric legal conditions Avoid transfer of value by internally generating funds Value of delta Debt capacity Forward Contract Cost of fund should equal the value of stock So, F = S e^(rT) if dividends are there then F = S e^(rT) –D e^r(T-t)
  • 33.
    Strategic Intent • Anobjective goal for the firms future strategy formulation and implementation • Chandler > strategy through structure • Scott >> looked at stages [OB] • Utter back >> Process innovations • Hammer >> BPR • Lawrence and lorsch >> differentiate and you will integrate.
  • 34.
    S Tilles StrategyModel Resource Consistency Internal External Goals / Means Consistency Consistency Risk
  • 35.
    Strategy Execution Peter Drucker H Ansoff Wait Assumptions Forward Integration Expand Trade offs Develop Develop Feedback Markets Business Products Review Backward Diversify Integration BPR
  • 36.
    Venture Capital Funds •Ideal VC • Ideal Investee – 2-3 rounds of funds – belief 1. Industry space and position – Network capability 2. Management Team – Active Board participation 1. Experience of the team • Corporate governance 3. Family wealth of products – Knowledge of the industry 4. Organization structure 1. Clean simple transparent • Tag along rights 5. Valuation methods – Founder cant exit until VC 1. Not more than 1 year • Mexico syndrome 6. Co investees? – Angels? – VC has rights to change 7. Exit Opportunity management if
  • 37.
    Knowledge Processing Strategy. Hi Organization Dispersed - Clusters Specialist Knowledge Level Individual Dispersed - Points Guided Decentralized Centralized Hi Implementation Responsibility
  • 38.
    7 Cs ofCommunication • Completeness > 5 Ws and H • Correctness > right languages, facts, figures • Concise > non repetition, wordy • Consideration >positive, pleasant, focus on U • Concreteness > vivid, right facts • Clarity > quirks , visual, illustration • Courtesy > sincere, thoughtful appreciative
  • 39.
    Business Communication 78% of time and 67% of effort of a manager are in communication • SMCR Model by Berlo 1966 • Shannon Weaver Model – Source • Elements – Message > Content Encoding – Source Decoding – Transmitter – Channel – Signal – Receiver – Receiver – Effect > in attitude knowledge – Destination behavior – Feedback • Communication • 2 types of situations Misconceptions – Homophily > source and receiver are similar – Is a fringe benefit – Heterophily > source and receiver – Is message sending are dissimilar – Managers control communication!
  • 40.
    Human Brain Left Side - linear Right Side - simultaneous Speech Emotions Logic Relations Language
  • 41.
    Communication – assessingthe receiver • How will receiver benefit • What is the receivers status and standing • What is the receivers level of knowledge – language / context / facts • Receivers interests and concerns • Receivers context and environment • Secondary receivers ?
  • 42.
    Communication - Perspectives •What channel? • Oral Communication – Write – Intra personal > Listening • For records, user is busy, observing facts / info, complicated info – Interpersonal > Interviewing with details / costs – Small group > Meeting – Speak – Multi group > Presentation • Interactive, groups, personal, relationship building, sensitive – Public > oration matter
  • 43.
    Communication – Listening 45% Listening | 30% Speaking | 16% Reading | 9 % writing • 5 Activities in Listening • When is listening poor? – Sensing Interpreting Evaluating – Faking attention Remembering Responding – Avoiding difficult situation • Listening Key concepts – Tolerating distraction – Hearing Perception Discrimination – Majoring in minors Attention sound isolation language – Criticizing speaking style Meaning Evaluation Retention – Wasting time differential Response • How to improve listening? • 4 Types of listening – Having Focus – Content | Critical | Empathetic | Active – Digging > asking more questions • 4 types of listeners – Tracking > following & relating – Content | Action Oriented | People – Reflecting | Dampening Oriented | Time oriented – Redirecting if there are distractions – Jotting down ideas – Not interrupting – Summarize and evaluate
  • 44.
    Non Verbal Communication Proxemics Types Body movements – kinesics Space – Proxemics Time – Chronemics Paralanguage < 1.5’ Touch color objects graphics intimate <4’ Kinesics Personal <12’ Business / Facial Eye Contact Gestures Social <12’ Postures Public Para Language Expressions / Quirks like ohs ahs Speed intensity rate pitch
  • 45.
    Kinesics in detail[NVC] • Arms Folded • Eyes – High tight leans forward > – Straight look > interest resentment / rejection consideration – Loose low easy + smile ? Jovial – Shifty drops eyes > don’t rely receptive – Looking upwards / rapid blink > • Shoulders serious but working details – Slouched / bent down > weak – Raising 1 eye brow > disbelief – Raising 2 eye brow > surprise • Hands over eyes > ashamed – Winking one eye > flirtation • Slapping forehead > forgotten – Winking with nod and smile > • Fingers together in front > agreement confidence • Drumming fingers > • Position changes • Foot signals
  • 46.
    Interview process Guidelines • Phases • Interviewer – Warming | Main | Wrap up – Plan for | Put interviewee at ease | Make purpose clear | • Types several Guide | Let talk | Listen | – Exchange [info, feelings, exit ] Record | End – Evaluation [job, performance] • Interviewee – Persuasion [counsel, persuade] – Prepare | Proper appearance | show interest | Answer – Control [discipline, conflict completely correctly | resolution] Courtesy
  • 47.
    20 ways tointerview success 1. Prepare Qs with purpose 1. Listen ad observe 2. Scout motto – prepared 2. Keep eye contact 3. Jot down main Qs 3. Don’t fear silences 4. Ensure no distraction 4. Have easy right pace 5. Ease the interviewee 5. Ask searching questions > be 6. Take control calm and fact driven 7. Give meeting plan 6. Don’t psychiatrize 8. Ask easy simple Qs 7. Avoid irrelevant references 9. Speak Clearly 8. Take notes 10. Achieve goof rapport 9. Don’t be open ended – TIME 10. End interview with esteem and dignity intact
  • 48.
    Meetings & Discussions •4 Phases • Management todos – Forming – orientation info – Track purpose – Storming – conflict argue – Time Resources – Norming – rules emergence – Motivation cohesion participation – Performing –decision majority • Types • Advantages – Training > orate case simulate – Personal Involvement Share – Panel > expertise listen – Cohesion Coordinate – Sales > experience sharing – Use resources experience – Committee > temp varied – Exposure to PIE – Task > problems issues – Command > communication up down
  • 49.
    Negotiations • Prepare • Discussion – Goals – priorities | Limitations – AVOID > interrupting arguing – Gather info > Issues point scoring attacks Blames personalities power facts being clever Talking Sarcasms interests inhibitions threats Shouting – Concessions list – trade offs – PRACTICE > Listen | – Strategy > simple flexible Question | Ask justification | Non Commital | Test – List down tasks commitment | Seek & give info
  • 50.
    Negotiations • Signals • Bargain – Avoid concessions of hope | Ask to – DO’s > Firm conditional [state] | decide elaborate | Respond positive | Test exchange and list them up front | bring cause and evaluate stone walling back settled issues | keep unsettled issues linked • Propose – DONTS > separate offer from – Dos > Strong language like we need to conditions | No “If I …Will u “ | separate … | be specific | try and gain response | issues be firm in generals | be flexible in specifics | Remedy | • Close and Agree – Don’ts > grievance | inconsistence | – Formal | Write | List agreement | list weak language | complain | interrupting explanations and interpretations • Package – DON’T’s > not summarizing | not recording | Giving concessions in – List down draggers – concessions closing moments | Not ending inhibition objections | is there room for negotiating concessions | list down conditions
  • 51.
    Reporting • Preparation • Introduction [11 elements ] – Define problem purpose – Authorization Problem Purpose – List audience Methodology Sourecs Background • Experience knowledge prejudice Limitation Brief Results Plan of Responsibility Type presentation Scope Definitions – List ideas to include • Text • Hypothesis conditions top – WAC headings – Collect material information • Terminal section • Secondary > magazines news – Summary Conclusions libraries government docs Recommendations • Primary > files minutes interviews – Appendices References surveys – Sort Analyze interpret Results – Organize data – Prepare Outline
  • 52.
    Research Paper • Workingplan • Documentation Types – Outline – Source Footnotes | Cross reference footnotes | • Prefatory parts Explanatory footnotes – Title | Cover Design | Title page | Letter of authority | • Supplements Letter of transmittal | TOC | – Bibliographies. Table of tables | Abstract – Appendices > support info Synopsis Exec Summary – Glossary > list of special terms – Index > list key words
  • 53.
    Management Accounting Purpose Cost Scraper Decisions > Make or Buy Accept or Profit Reject | Resource allocation | Product Mix Other OH Non Mfturing Over heads Sales OH Planning & Control > Costs | Budgets | Performance evaluation Admin OH Mfting OH Full Cost Manufacturing Whether Direct /Indirect >> Over heads InD Labour Conversion Cost significance | Effort of tracing | ideally more direct costs ! Manufacturing Cost Ind Material D Labour Prime Cost D Material
  • 54.
    Manacc Thoughts • ABC– Thorndyke > > multiple • Costing Methods cost centers – Cost + Models – When to aggregate costing [when • Fixed fee | Fixed + bonus | Ficed + incentive ….. products spend relatively same • Job Shops | Govt Orders | times in each center] • Full costing > Var + Allocation of – Cost center level determines fixed assets decision making model – Market / Value Based – Cost centers should be • Price - homogenous within • Assembly –batch shops | • Joint products & By Products Competition – Open • Marginal Costing > Sales price | – Even materials and labour are Vars | Volumes [imp to cover fixed indirect costs [do you see chicken costs ] in the bone?]
  • 55.
    Variance Analysis Total Variance Output Variance Input Variance Sales Side Budget Side Price Volume Price Qtty Qtty Mix Purchase Qtty mix Mkt Gr Mkt Share
  • 56.
    Variance Analysis ..Contd.. • Inefficiency of control should not be taken on the department • Earlier the variance recognition the better • Process of control ends with remedials • Variance bw origin and trace of variance can be used as learnings for future