Management effectiveness[/b]
In management, the ultimate measure of management's performance is the metric of management effectiveness which includes:
Execution or how well management's plans were carried out by members of the organization
Leadership or how effectively management communicated and translated the vision and strategy of the organization to the members
Delegation or how well management gave assignments and communicated instructions to members of the organization
Return on investment or how well management utilized the resources of the organization to bring an acceptable return to shareholders
Effective managers in organizations follow this same basic principle. It is not just about getting results. The “how” is also critical. Management effectiveness entails efficiency, which means reaching a destination with minimal cost. The only difference between business managers and simple self-management is the number and types of resources involved and the complexity of tasks that need to be managed. The more complex the task, the more complex needs to be the planning, coordination and monitoring to achieve success efficiently. Managing widely diverse types of people, large amounts of money and working to tight timeframes creates a great challenge for even the best managers. Leadership is different. It is about promoting new directions, not executing existing directions efficiently.
In management, the ultimate measure of management's performance is the metric of management effectiveness which includes:
Conflict management, or how well management is able to utilize confrontation and collaboration skills; management's ability to be flexible and appeal to common interests.
Consideration, or how well managers seek to understand and appreciate others' values; and not merely as a means to a business goal.
Delegation, or how well management gives assignments and communicates instructions to members of the organization
Execution, or how well management's plans are carried out by members of the organization
Leadership, or how effectively management communicates and translates the vision and strategy of the organization to the members
Motivation, how management attempts to understand the needs of others and inspires them to perform. Motivation focuses on how performance is rewarded rather than how failure is punished.
Return on investment, or how well management utilizes the of the organization to bring an acceptable return to shareholders
Corporate – Each company operates within different bounds. These are determined by their size, their budget and their ability to make organizational change. Within these bounds marketers operate along the five factors described below.
Competitive – Each company in a category operates within a similar framework as described below. In an ideal world, marketers would have perfect information on how they act as well as how their competitors act. In reality, in many categories have reasonably good information through sources, such as, IRI or Nielsen. In many industries, competitive marketing information is hard to come by.
Customers/Consumers – Understanding and taking advantage of how customers make purchasing decisions can help marketers improve their marketing effectiveness. Groups of consumers act in similar ways leading to the need to segment them. Based on these segments, they make choices based on how they value the attributes of a product and the brand, in return for price paid for the product. Consumers build brand value through information. Information is received through many sources, such as, advertising, word-of-mouth and in the channel often characterized with the purchase funnel
Exogenous Factors – There are many factors outside of our immediate control that can impact the effectiveness of our marketing activities. These can include the weather, interest rates, government regulations and many others. Understanding the impact these factors can have on our consumers can help us to design programs that can take advantage of these factors or mitigate the risk of these factors if they take place in the middle of our marketing campaigns.
In similar manner qualities that a good manager should possess are as follows:
Good Communicator
The ability to communicate with people is the most important skill by managers and team members. The Manager is also the team's link to the larger organisation. He must have the ability to effectively negotiate and use persuasion when necessary to ensure the success of the team and project. Through effective communication, manager support individual and team achievements by creating guidelines for accomplishing tasks and for the career advancement of team members.
Enthusiasm
If Managers are negative - they bring staffs down. Manager with enthusiasm, with a bounce in their step, with a can-do attitude. Many people tend to follow people with a can-do attitude. Enthusiastic Managers are committed to their goals and express this commitment through optimism.
Competence
Managers will be chosen based on their ability to successfully lead others rather than on technical expertise, as in the past. Having a winning track record is the surest way to be considered competent. Expertise in management skills is another dimension in competence. The ability to challenge, inspire, enable, model and encourage must be demonstrated if managers are to be seen as capable and competent.
Ability to Delegate Tasks
Trust is an essential element in the relationship of manager and his or her team. You demonstrate your trust in others through your actions - how much you check and control their work, how much you delegate and how much you allow people to participate.
Cool Under Pressure
In a perfect world, projects would be delivered on time, under budget and with no major problems or obstacles to overcome. A leader with a hardy attitude will take these problems in stride. When leaders encounter a stressful event, they consider it interesting, they feel they can influence the outcome and they see it as an opportunity.
Team-Building Skills
A team builder can best be defined as a strong person who provides the substance that holds the team together in common purpose toward the right objective. In order for a team to progress from a group of strangers to a single cohesive unit, the leader must understand the process and dynamics required for this transformation. He or she must also know the appropriate leadership style to use during each stage of team development. The leader must also have an understanding of the different team players styles and how to capitalise on each at the proper time, for the problem at hand.
Communicate the big picture
If you want your employees to work hard and be committed to your business, you have to keep them in the loop. Open communication helps foster loyalty and gives employees a sense of pride. It helps them understand how their work contributes to the company's success.
Delegate work and responsibilities
Some employees, share their workload with them and assign the work according to people's strengths and weaknesses, and let employees develop their own good work habits and abilities.
Help employees set goals
Setting deadlines and goals helps keep employees focused, busy and motivates them to do their work. Talk to each of your employees about the company's goals, and work with them to set individual goals directly linked to your business's mission. Make sure employees understand their professional growth path in the company.
Recognize problems
It is impossible to know about personality conflicts, lagging productivity or other problems in the office if you have your head in the sand. If you notice a change in an employee's work habits or attitude, try to get to the root of the problem before it starts affecting the rest of your staff.
Use these criteria to choose your level of collaboration for a given decision
The following criteria could influence your choice of decision making collaboration level. Prioritize these as appropriate based on the management decision being made.
Available time - The time available to complete the decision making process for a specific decision is probably the most important criteria in choosing the most appropriate style. Be careful with this as it is the factor most manipulated to pressure a poor decision or to justify an autocratic style.
Decision Value - It does not make sense to spend a lot of time or effort on a $10 decision, nor too little effort on a million dollar decision. Try to assess the value of a decision's outcome and expect to spend 0.5 to 2 % of that value in decision analysis effort to make a good decision. Higher value choices will require a more consultative or collaborative style.
Relationship Impact - Impact on valued relationships can influence the level of collaboration for a specific management decision. It is rare that decisions sit in isolation. Choose a style that maintains relationships and you might find the next decision a little easier to make.
Complexity of the decision being made
Personalities of those involved in making the decision
Number of options or alternatives that have the potential to lead to a positive outcome for the decision being made
The level of clarity available for understanding the needs of all the stakeholders or outcomes that will lead to a successful outcome from the decision
In management, the ultimate measure of management's performance is the metric of management effectiveness which includes:
Execution or how well management's plans were carried out by members of the organization
Leadership or how effectively management communicated and translated the vision and strategy of the organization to the members
Delegation or how well management gave assignments and communicated instructions to members of the organization
Return on investment or how well management utilized the resources of the organization to bring an acceptable return to shareholders
Effective managers in organizations follow this same basic principle. It is not just about getting results. The “how” is also critical. Management effectiveness entails efficiency, which means reaching a destination with minimal cost. The only difference between business managers and simple self-management is the number and types of resources involved and the complexity of tasks that need to be managed. The more complex the task, the more complex needs to be the planning, coordination and monitoring to achieve success efficiently. Managing widely diverse types of people, large amounts of money and working to tight timeframes creates a great challenge for even the best managers. Leadership is different. It is about promoting new directions, not executing existing directions efficiently.
In management, the ultimate measure of management's performance is the metric of management effectiveness which includes:
Conflict management, or how well management is able to utilize confrontation and collaboration skills; management's ability to be flexible and appeal to common interests.
Consideration, or how well managers seek to understand and appreciate others' values; and not merely as a means to a business goal.
Delegation, or how well management gives assignments and communicates instructions to members of the organization
Execution, or how well management's plans are carried out by members of the organization
Leadership, or how effectively management communicates and translates the vision and strategy of the organization to the members
Motivation, how management attempts to understand the needs of others and inspires them to perform. Motivation focuses on how performance is rewarded rather than how failure is punished.
Return on investment, or how well management utilizes the of the organization to bring an acceptable return to shareholders
Corporate – Each company operates within different bounds. These are determined by their size, their budget and their ability to make organizational change. Within these bounds marketers operate along the five factors described below.
Competitive – Each company in a category operates within a similar framework as described below. In an ideal world, marketers would have perfect information on how they act as well as how their competitors act. In reality, in many categories have reasonably good information through sources, such as, IRI or Nielsen. In many industries, competitive marketing information is hard to come by.
Customers/Consumers – Understanding and taking advantage of how customers make purchasing decisions can help marketers improve their marketing effectiveness. Groups of consumers act in similar ways leading to the need to segment them. Based on these segments, they make choices based on how they value the attributes of a product and the brand, in return for price paid for the product. Consumers build brand value through information. Information is received through many sources, such as, advertising, word-of-mouth and in the channel often characterized with the purchase funnel
Exogenous Factors – There are many factors outside of our immediate control that can impact the effectiveness of our marketing activities. These can include the weather, interest rates, government regulations and many others. Understanding the impact these factors can have on our consumers can help us to design programs that can take advantage of these factors or mitigate the risk of these factors if they take place in the middle of our marketing campaigns.
In similar manner qualities that a good manager should possess are as follows:
Good Communicator
The ability to communicate with people is the most important skill by managers and team members. The Manager is also the team's link to the larger organisation. He must have the ability to effectively negotiate and use persuasion when necessary to ensure the success of the team and project. Through effective communication, manager support individual and team achievements by creating guidelines for accomplishing tasks and for the career advancement of team members.
Enthusiasm
If Managers are negative - they bring staffs down. Manager with enthusiasm, with a bounce in their step, with a can-do attitude. Many people tend to follow people with a can-do attitude. Enthusiastic Managers are committed to their goals and express this commitment through optimism.
Competence
Managers will be chosen based on their ability to successfully lead others rather than on technical expertise, as in the past. Having a winning track record is the surest way to be considered competent. Expertise in management skills is another dimension in competence. The ability to challenge, inspire, enable, model and encourage must be demonstrated if managers are to be seen as capable and competent.
Ability to Delegate Tasks
Trust is an essential element in the relationship of manager and his or her team. You demonstrate your trust in others through your actions - how much you check and control their work, how much you delegate and how much you allow people to participate.
Cool Under Pressure
In a perfect world, projects would be delivered on time, under budget and with no major problems or obstacles to overcome. A leader with a hardy attitude will take these problems in stride. When leaders encounter a stressful event, they consider it interesting, they feel they can influence the outcome and they see it as an opportunity.
Team-Building Skills
A team builder can best be defined as a strong person who provides the substance that holds the team together in common purpose toward the right objective. In order for a team to progress from a group of strangers to a single cohesive unit, the leader must understand the process and dynamics required for this transformation. He or she must also know the appropriate leadership style to use during each stage of team development. The leader must also have an understanding of the different team players styles and how to capitalise on each at the proper time, for the problem at hand.
Communicate the big picture
If you want your employees to work hard and be committed to your business, you have to keep them in the loop. Open communication helps foster loyalty and gives employees a sense of pride. It helps them understand how their work contributes to the company's success.
Delegate work and responsibilities
Some employees, share their workload with them and assign the work according to people's strengths and weaknesses, and let employees develop their own good work habits and abilities.
Help employees set goals
Setting deadlines and goals helps keep employees focused, busy and motivates them to do their work. Talk to each of your employees about the company's goals, and work with them to set individual goals directly linked to your business's mission. Make sure employees understand their professional growth path in the company.
Recognize problems
It is impossible to know about personality conflicts, lagging productivity or other problems in the office if you have your head in the sand. If you notice a change in an employee's work habits or attitude, try to get to the root of the problem before it starts affecting the rest of your staff.
Use these criteria to choose your level of collaboration for a given decision
The following criteria could influence your choice of decision making collaboration level. Prioritize these as appropriate based on the management decision being made.
Available time - The time available to complete the decision making process for a specific decision is probably the most important criteria in choosing the most appropriate style. Be careful with this as it is the factor most manipulated to pressure a poor decision or to justify an autocratic style.
Decision Value - It does not make sense to spend a lot of time or effort on a $10 decision, nor too little effort on a million dollar decision. Try to assess the value of a decision's outcome and expect to spend 0.5 to 2 % of that value in decision analysis effort to make a good decision. Higher value choices will require a more consultative or collaborative style.
Relationship Impact - Impact on valued relationships can influence the level of collaboration for a specific management decision. It is rare that decisions sit in isolation. Choose a style that maintains relationships and you might find the next decision a little easier to make.
Complexity of the decision being made
Personalities of those involved in making the decision
Number of options or alternatives that have the potential to lead to a positive outcome for the decision being made
The level of clarity available for understanding the needs of all the stakeholders or outcomes that will lead to a successful outcome from the decision