contemporary managerial challenges-ady draft

8/3/2019 Contemporary Managerial Challenges-Ady Draft

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Def:A manager is a person responsible forplanning and directing the work of a group ofindividuals, monitoring their work and takingcorrective actions when necessary.

A manager helps others get more done by:o motivating them

oproviding directions

omaking sure they are working together toward acommon goal

oremoving roadblocks and

providing feedback.


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Develop a mindset that change is anopportunity rather than a threat and aneffective system for instigating andimplementing new ideas.

Stress on Constant Experimentation withPersistence.

When is the best time to change? When anorganisation is doing well and can effect

change in its own time and under its ownterms, thus consolidating its competitivehold. Be Proactive.


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What is a Stretch Goal? A goal that cannot beachieved in small improvements or steps.Management is an ongoing process that

requires extending onself to the limit for thegoal to be actualised.

P.O.S.D.Co.C i.e Planning Organising StaffingDirecting Co-ordinating Control is essential.

Youre going to have to motivate people,remove roadblocks from their path, and focusthem on the things that are most important


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Systematic Assessment Techniques must bedesigned.

Treat every employee with respect

Help employees align their personal goalswith their work goals

Comfortable work environment to increaseproductivity

Encourage employee communication and co-operation.


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IBM and Google, both are high-tech companies that attract and motivate the brightest engineersand computer scientists. Both run campus-like research facilities and compete againstaggressive rivals. Yet the two firms couldnt be more different when it comes to their

compensation plans, which are built on two different theories about how best to manage andmotivate workers. IBM, founded in 1888, adopts classical management theory, resulting in atraditional compensation plan. Money is assumed to be the primary motivator.

The chief means of compensation are pay and financially valuable benefits, such asretirement plans and insurances. The companys website states, Cash compensationopportunities include base pay, performance bonus, commissions, awards and other forms ofearnings. Bonuses are related to workers contribution as well as overall business unitperformance, and usually equal 2 to 8 percent of annual pay. IBM offers generous paid vacationand holidays. Flexible schedules and telecommuting are options for some employees.

IBMs website also lists fun benefits, which include, for example, reduced-price products,fitness centers, and cooking lessons. Google, founded in 1998, takes a more behavioralapproach to all of its operations, including its compensation plan. Money is just one motivatoramong many. Google offers generous base pay and stock options for many workers, commonfor high-tech startups. Other motivators include fun, friendship, intellectual challenge, and thechance to give back. There is a Google childcare center, on-site medical care and massages,reimbursement for using public transportation, and free meals and snacks all day. Employeescan spend up to 20 percent of their time on projects of their choosing. Theres beachvolleyball, roller hockey, yoga, and pinball machines for relaxation. Google goes far beyond thetraditional, offering live piano music, lava lamps, and a welcome to dogs, who share officespace with their owners. Of course, the difference between the two firms isnt absolute. Both

offer some traditional and some nontraditional benefits. Both companies have been remarkablysuccessful with their different policies. The comparison demonstrates that both a classical anda behavioral approach can be equally successful. The key is to choose the approach that bestfits the companys management perspective and organization culture


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Real leaders produce more leaders Thus, temptation to keep such employees

should be avoided.

Solution: the best thing for your company isto make sure that the employee finds a homein another part of your company where he orshe can continue to contribute


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Hiring is easy, but hiring the right person forthe right job is most difficult.

The idea is to develop a capability throughwhich you are able to explore the people,their competencies and recognize their keyarea of performance. You should be able tohire the right people for the right kind of job.


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Inspite of planning, things are ought todeviate and go wrong.

What should be done? ContinuousImplementation and Improvisation must bedone.

One should be like a Thermostat and not likea Thermometer.


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Since the environment is dynamic, deviationsarise at all levels therefore the managerneeds to devise new improved methods ofmanagement.


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Taking the Indian Corporate Global The corporate is now affected by people of

diverse culture, race, thinking and decisionmakers, attitudes etc

Connectivity has increased manifold thus

increasing competition Allignment with different corporate and

government laws and economy Outsourcing: Outsourcing is a major issue facing

managers today. By moving many jobs abroad,

firms may lower their costs. But at the same time,they also reduce jobs available in their domesticenvironment


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A particular challenge is making CSR anobligation of everyone in the organization;making it a part of the organizational cultureand not merely a public-relations activity.

Organizations must consider the societalimpact of their decisions and actions

Social and environmental responsibilities are

essentials


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More and more organisations are takingquality as the basis for competition

Improving quality tends to increaseproductivity because making higher-qualityproducts generally results in less waste oftime and resources .

Enhancing quality lowers costs


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The market has now an increased share in theservice sector.

Service technology involves the use of bothtangible resources (such as machinery) andintangible resources (such as intellectualproperty) to create intangible services (suchas a haircut, insurance protection, ortransportation between two cities).


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Continuous Implementation of new technologies,integrating with existing systems and ensuringcost effectiveness, places a never endingchallenges before a manager.

Merely investing in new technology withoutcareful planning and assessment, need notnecesarily result in improved businessperformance.

Convincing people to shift from existing routines

to something new is a challenge. Thus, with more tech savvy people it is easier to

implement the changes.


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At the peak of Coca-Colas dominance of thesoft-drink industry, about 1996, thecompany seemed invincible

Cokes then- CEO Roberto Goizueta had poorstrategy, weak leadership, shoddyimplementation, and innovation failures

Result: Pepsi regrouped and emerged as a

strong competitor.


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In 1997, the new CEO Douglas Ivestersanalytical, hard-working approach reliedheavily on numbers while neglecting to

motivate and develop employees Under their leadership, Coke developed

superior technical and operational skills, butvision, implementation, motivation, group

processes, and culture received littleattention

Innovation suffered too. There were two newlow- calorie drinks, Diet Coke with Splenda

and Coca-Cola Zero, yet there hasnt been atruly innovative beverage developed since thelaunch of Diet Coke in 1982.


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Capable leaders were replaced by lesscapable, as a result there was loss of talentand experience at Coke.

Understanding:

o The managers need to learn what makes thebusiness work really?

o

The managers need to focus on todayscompetitive environment and how thatenvironment will change tomorrow

o Human Element is extremely important at

workplace


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the ability to motivate staff and unite them inpursuit of common goals;

vision and the ability to articulate andcommunicate the vision clearly;

integrity and fairness; the ability to focus on outcome and

achievement;

the ability to deal with accelerated change; aflexible and receptive mind;

the ability to combine cognition with creativity;and commitment and determination

contemporary managerial challenges-ady draft

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