Project Management

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Management

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Art of getting things done through the efforts of other people

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Changing roles of managers (traditional)

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1a) Top managers ensure organizations competiveness and lower level managers' and employees job security

1b) lower level managers and employees implement top managements strategy with loyalty and obedience

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Changing roles of managers(Contemporary)

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1a) empowered lower level managers and employees are responsible for the organizations competiveness and their own development

2a) top management support personal development and ensure employability

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Strategic Planning

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*Up to 3 yr time frame

*Conducted by top management

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Tactical planning

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*one to 3 yr time frame

*considered by mid management

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Operational planning

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*Short time horizon, one week to one year

*conducted by direct supervisors who are members of management

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Triple bottom line(economic)

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*revenue

*accounting profit

*supply and demand

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Triple bottom line(enviormental)

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*Reuse/recycle

*sustainability

*going green

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Triple bottom line(social)

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*Humanitarism

*responsibility

*accountability

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Organizational performance

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Economic,social,enviormental

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Importance of economic performance

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Is very important to a firms stakeholders, particularly its investors or owners, because this performance eventually provides them with a return on their investment

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Corporate social responsibility

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Organizations can consider the interest of society and take responsibility for the impact of their activities on customers, suppliers, employees, shareholders, communities, and the environment in all aspects of their operations. End does this

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Criticism of CSR

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Detractsfrom the fundamental economic role of business.

Just superficial window - dressing.

Pre-empts the role of government as the watchdog over powerful multinational corporations

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Individual level performance(in-role)

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Individuals are recruited, selected, and hired to take responsibility for fulfilling the job description

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Individual level performance / extra-role performance

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Additional extras that add value but which are part of the formal job description

organizational citizenship behaviors

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openness

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Curious, original, intellectual, creative, and open to new ideas.

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Conscientiousness

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Organized, systematic, punctual, achievement oriented, and dependable

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Extraversion

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Outgoing, talkative, sociable, and enjoys being in social situations

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Agreeableness

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Nice, tolerant, sensitive, trusting, kind, and warm.

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Neuroticism

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Anxious, irritable, aggressive, temperamental, and moody.

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Self monitoring and proactive personality

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Hi social monitors understand what the situation demands and act accordingly.

Proactive personalities use initiative to solve problems.

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Self efficacy vs self esteem

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Needs to find answer

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Myers-briggs

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Myers Briggs Type Indicator assessment is the best known and most trusted personality tool available

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Perception

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The process with which individuals detect and interpret environmental stimuli. Is affected by our values, needs, and emotions.

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Stereotypes

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Are generalizations based on a group characteristic.

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Self fulfilling prophecy

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Occurs when an established stereotype causes one to behave in a certain way

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Selective perception

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We pay selective attention two parts of the environment while ignoring other parts

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First impressions

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Establishes the mental framework and how another person is viewed as later evidence is either ignored or reinterpreted to conside with this framework

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Job performance work behaviors

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Cognitive ability, equitable treatment, stress experienced, work attitude

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Factors that have the strongest influence over work behaviors

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Job performance , organizational citizenship behaviors, absentism, turnover.

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Organizational citizenship

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Helping a coworker through a peak workload maybe a voluntary action. Wall outside the scope of job duties, these voluntary behaviors contribute to the effective functioning of an organization.

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Strategy is how the firm aims to realize its mission and vision

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Goals and objectives are the indicators of how well the strategy is succeeding

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Mission, vision, and values

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90% of 500 firms surveyed issue some form of mission and vision statements.

Firms with clearly communicated, widely understood, and collectively shared mission and vision have been shown to perform better than those without them.

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Mission statements

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Communicates the organization's reason for being, and how it aims to serve its key stakeholders. Often integrates of summation of the firm's value. Mission statements tend to be longer than vision statements

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Vision statements

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A future-oriented the Declaration of the organization's purpose and aspirations. Addresses what a firm wants to become. Vision statements tend to be relatively brief.

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Roles played by mission and vision

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Mission statement - who are we, what

Vision statement - what we want to become

Strategy - how we will achieve our vision

Goals and objectives - how we gauge our degree of success

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Examples of vision statements

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Walmart save money .live better.

Establish Starbucks as the premier purveyor of the finest coffee in the world while maintaining our uncompromising principles as we grow

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Vision, mission, and controlling controlling consists of three steps

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Establish performance standards. Compare actual performance against standards. Take corrective action when necessary.

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Leading indicator

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Serves to predict where the firm is going

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Pacing indicator

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Reveals in real time that the organization is on track

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Lagging indicator

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Indicates how well the firm has done historically

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Corrective action required

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Goals and objectives, mission and vision, actual versus desired performance.

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Mission and vision development process

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The process, the content of the mission and vision statements, communicating mission and vision to all relevant stakeholders, monitoring

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Strategic management process

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The process by which a firm manages the formulation and implementation of its strategy

The coordinated means by which an organization achieves its goals and objectives.

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Planning / strategy formulation

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Vision and mission, strategizing, goals and objectives.

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Strategising and POLC

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Planning, organizing, leading, controlling.

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Organizing

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Organizational design, culture, social networks

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Leading

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Leadership, decision making, communications, groups / teams, motivation.

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Controlling

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Systems / processes, strategic human resources

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Synergy

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Corporate strategy diversification needs better definition

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SWOT

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Strengths weaknesses opportunities and threats

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Strengths and opportunities

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How can you use your strengths to take advantage of the opportunities

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Strengths and threats

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How can you take advantage of your strengths to avoid real and potential threats

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Weaknesses and opportunities

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How can use your opportunities to overcome the weaknesses you are experiencing

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Weaknesses and threats

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How can you minimize your weaknesses and avoid threats

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Various factors can undermine a strategy

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The plan is poorly constructed, competitors undermine the advantages envisioned by the plan, the plan was good, but poorly executed.

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Intended, deliver it, realized, and emergent strategies

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No definition

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mintzberg's conclusion

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The realized strategy is a consequence of deliberate and emerging

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Porter's Five Forces

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New entrants , suppliers, substitutes, rivalry, buyers

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Porters attractiveness and profitability analysis - likely to profit

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Is the industry difficult to enter?

Is there a limited rivalry?

Are buyers relatively weak?

Our supplier is relatively weak?

Are there few substitutes?

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Porters attractiveness and profitability analysis - challenges to profit

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Is the industry easy to enter? Is there a high degree of rivalry between firms within the industry? Our buyers strong? Our suppliers strong? Is it easy to switch to alternatives?

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Goals

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Outcome statements that define what an organization is trying to accomplish example Walmart increase revenue by 20% annually

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Objectives

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Are very precise, time-based, and measurable actions that support the completion of a goal example Walmart open 20 new stores by year end

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Objectives

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Related directly to the goal clear and concise stated in terms of results begins with an action verb specified date and / or deadline measurable

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Measurement of objectives is critical

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Measuring objectives, revealed where the organization has been, describe current status, provide insight into intended future direction

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Goals and objectives in POLC

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Gauging report performance, improve performance, align effort, manage accountabilities

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Goals and objectives in planning / time horizon

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Relatively long and relatively short

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Goals and objectives in planning / function of arena specificity

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Relatively broad and relatively specific

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Goals and objectives should

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Reinforce the organization's strategy, which ultimately achieve the vision and mission of the organization.

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Management by objectives

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A process in which a manager and then employee agree upon a set of specific performance goals, or objectives, and jointly develop a plan for reaching them. The principle behind MBO is to ensure that people know with organization is trying to achieve and what the road should be in accomplishing those objectives

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Seeking a balance the move away from mbo

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We hope for... But we often reward

Long term growth, environmental

responsibility - quarterly earnings

Teamwork - individual effort

Setting challenging stretch goals - achieving objectives making the numbers

Downsizing rightsizing restructuring - adding staff, adding budget

Commitment to quality - shipping on schedule even with defects

Commitment to customer service - keeping customers from bothering us

Candor, surfacing bad news or early - reporting good news, whether its true or not, agreeing with a boss, whether or not she or he is

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Advantages of balanced scorecard

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More clearly the goals and objectives to the organization's vision, mission and strategy. Moves beyond the financial measurement of just goals and objectives

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The balanced scorecard mission, vision and strategy

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Learning and growth, customers, internal processes, financial performance are all goals and objectives

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The balanced scorecard in practice

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Translating division, communicating in Lincoln, business planning, feedback and learning

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Using goals and objectives in employee performance evaluation

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Performance evaluations based on clear goals and objectives leave little doubt about the desired outcome

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Integrating goals and objectives with performance evaluation

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Performance evaluation as a constructive process to acknowledge the performance of an employee, builds trust, motivates, maintains credibility, clarifies expectations, identify strengths and weaknesses

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Negative consequence of avoiding performance review

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Decreases credibility of management, decreases morale, waste management's time, reduces organization's overall effectiveness

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Preparation

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Document achievements, organized as evidence of results gained

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What is the result is unfavorable?

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Was it truly on justified? Are you just sensitive to criticism, if justified, schedule a follow up appointment

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What have you learned?

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Did you have the clear goals and objectives such that your performance was easy to document?, can you take away valuable information?

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Smart criteria

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Specific, measurable, attainable, realistic, timely

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Specific

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Answer the six W questions

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Measurable

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How much or how many?

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Attainable

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Growth places you closer to the goal

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Realistic

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Are you willing and able to apply yourself?

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Timely

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Identify the time frame

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Building blocks of structure

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Centralization, formalization, hierarchical levels, departmentalization

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Centralization

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The degree to which decision making authority is concentrated at higher levels in an organisation.

Decentralized companies give more authority to lower level employees, resulting in a sense of empowerment

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Caterpillar example

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Once decision-making became more decentralized, caterpillar was better equipped to compete at the global level.

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Established balancing / centralized

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Can lead to an inefficiencies and decision making in an uncertain or highly competitive market. In a stable environment, can lead to more efficient operations

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Established balance / decentralized

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Decisions can be made more quickly. Can provide greater levels of procedural fairness to employees

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Formalization

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Is the extent to which an organization's policies, procedures, job descriptions, and rules are written and explicitly articulated. Written plus explicit regulations equal formalization

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Hierarchal levels / tall

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Several layers of management between frontline employees and the top level. Fewer employees report to each manager. Greater opportunities for managers to supervise and monitor employee activities

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Hierarchal levels / flat

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Few management layers. Larger number of employees reporting to each manager. Can lead to greater levels of freedom for each employee

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Advantages of flat organisations

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Companies such as IKEA, the Swedish furniture manufacturer and retailer, or successfully using flat structures within stores to build an employee attitude of job involvement and ownership.

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Organizations using functional structures group jobs based on similarities in functions

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Marketing , management, finance, accounting, human resources, information technology

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In organizations using divisional structures, departments represent the unique products, services, customers, or geographic locations the company is serving

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Each unique product or service to companies producing will have its own department

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Functional departmentalization structure

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Rely on a division of labour whereby groups of people handle activities related to a specific function of the overall business

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Divisional departmentalization structure /ceo

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Handles medical devices, consumer products, Baby Care, diabetic drugs, nutritional supplements

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Contemporary forms of organizational structures

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Matrix, boundaryless, and learning organizations

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Matrix organizations

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Balance of traditional functional structure of a product structure

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Boundaryless organizations

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Eliminate traditional barriers between departments and external environment

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Learning organizations

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Actively seek to acquire knowledge and change behavior as a result of the newly acquired knowledge

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Advantages of matrix

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Structures are created in response to uncertainty and dynamism of the environment. May increase communication and cooperation among departments. Increases the frequency of in formal and informal communication within the organization. Provides quick responses to technical problems and customer demands

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Impact of technology

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Moore's law dictates that the overall complexity of computers will double every 18 months with no increase in cost. Such changes motivating corporations to change their technology rapidly

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Dvorak keyboard

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Resistance prohibited the Dvorak keyboard from becoming the norm

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Why people resist change

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Disruptive habits, personality, feelings of uncertainty, fear of failure, personal impact of change, prevalence of change, perceived loss of power

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Fear of failure

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Is a common reason employees resist change