SundarTechnologies: Business Management : Essential Management Skills IBMI Certification

International Business Management Institute

Business Management : Essential Management Skills

An introduction to the most essential business skills and the art of effective and efficient management.

Skills you will learn

Basics of leadership & team development

Strategic decision making & negotiation skills

Essentials of project, crisis and time management

About this course

In today’s business world, management and leadership skills are essential for long-term success. This course teaches you how to manage organisations and empower people. You will learn various leadership models, discover different leadership styles and understand how teams develop.

You will also learn the basics of project management, change management and time management. Furthermore, this course will teach you how to handle crises, how to make better decisions and how to become a superior, more effective negotiator.

You will also receive short case studies of Apple, Microsoft and the University of Oxford that summarize the key takeaways of this course.

https://www.ibm-institute.com/courses/management-skills/

https://www.ibm-institute.com/courses/economics-international-business/

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Welcome to Essential Management Skills :

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11 chapters | 3 hours

Course Content

1. Introduction

2. Leadership

5 Topics

3. Team Development

3 Topics

4. Decision-Making

2 Topics

5. Project Management

5 Topics

6. Negotiation

2 Topics

7. Change Management

3 Topics

8. Crisis Management

9. Business Ethics

3 Topics

10. Time Management

11. Case Studies & Conclusion

Essential Management Skills - Exam

1. Introduction :

-----------------

Welcome to Essential Management Skills!

Good management skills are vital for any organization to succeed and achieve

its goals. To be a great manager, you must have an extensive set of skills – from

planning and delegation to communication and motivation.

Because this skill set is so wide, it’s tempting to build skills in the areas of

management that you’re already comfortable with. But, for your long-term

success, it’s wise to analyze your skills in all areas of management – and then

challenge yourself to improve in all of these areas. This course will help you to

do so.

What are the main functions of managers?

Management is often expressed as the process of achieving an organization’s

objectives through guiding development, maintenance, and allocating

resources. The four primary functions of managers are planning, organizing,

leading, and controlling. (POLC)

------------ ------------- ------------ -------------

| 1. | | 2. | | 3. | | 4. |

| | | | | | | |

------------ ------------- ------------ -------------

1. Planning

Planning is the process of determining a course of action for future conditions

and events with the goal of achieving the company’s objectives. Effective

planning is necessary for any business or organization that wants to avoid

costly mistakes. There are different types of planning:

Strategic -போர்த் திறம் வாய்ந்த

Tactical - தந்திரோபாயம் , வகுப்பமறை சார்ந்த

Operational planning -செயல்பாட்டுத் திட்டமிடல்

Operational planning -தற்செயல் திட்டமிடல்

* Strategic planning involves creating long-range goals and determining the

resources required for achieving these goals. Strategic planning is the most

far-reaching level of planning and involves plans with time frames from one

to five years. Strategic planning includes analyzing the external environment

and the organization’s readiness to react.

* Tactical planning denotes the implementation of the activities defined by

the strategic plans. Generally, tactical planning involves shorter-range plans

with time frames of less than one year.

* Operational planning involves the creation of specific methods, standards,

and procedures for different functional areas of an organization.

* Contingency planning involves the creation of alternative courses of action

for unusual or crisis situations.

2. Organizing

Managers have to figure out how many people are needed to get the jobs done.

This management role involves blending human and capital resources in a

formal structure as well as determining how the job flow happens. The

manager will divide and classify work by determining which specific tasks need to

be carried out in order to accomplish a set of objectives.

organizational objectives- நிறுவன நோக்கங்கள்

3. Leading

Managers also have the role of leading or directing employees and plans. The

goal of leading is to guide and motivate employees in order to accomplish

organizational objectives.

adhering to - கடைபிடிக்கும்

4. Controlling

Managers must monitor what’s going on in the company. Controlling allows a

manager to measure how closely an organization is adhering to its set goals.

Important steps are: setting performance standards, measuring the

performance, taking corrective steps if necessary and using information from

the process to set future performance standards.

Info!!!!!!! :

The primary functions of managers are:

1. Planning, 2. Organizing, 3. Leading, and 4. Controlling.

(POLC)

emotional intelligence - உணர்வுசார் நுண்ணறிவு

Leadership Trends -தலைமைத்துவ போக்குகள்

Management By Objectives - குறிக்கோள்களால் மேலாண்மை

2. Leadership :

---------------

People who lead teams in the workplace are commonly seen as leaders and

managers. In this chapter, we will address the difference between management

and leadership, cover the important concept of “emotional intelligence”, and

discuss different leadership styles.

Lesson Content

Leaders and Managers

Emotional Intelligence

Leadership Styles

Leadership Trends

Management By Objectives

synonymously - ஒத்ததாக, horizon - அடிவானம்

Facilitating - வசதி செய்தல்

* Leaders and Managers :

Although sometimes used synonymously, leadership and management can be

quite different. Leaders may be managers, but not all managers are leaders. So

just what are the differences?

While managers tend to have their eyes on the bottom line,

leaders are more often looking toward the horizon, trying to find new opportunities

for growth and development. A manager is usually satisfied with the status quo,

whereas the leader is often challenging it.

-------------- ------------------

| Management | | Leadership |

| (structure) | | (flexibility) |

================ ====================

| A Function |<-->| A Relationship |

-------------- ------------------

| Planning |<-->| Selecting Talent |

-------------- ------------------

| Budgeting |<-->| Motivating |

-------------- ------------------

| Evaluating |<-->| Coaching |

-------------- ------------------

| Facilitating |<-->| Bulding Trust |

-------------- ------------------

Leadership often involves reinventing the job; strong leaders create their role

in an organization or in the world system. Managers are often responsible for

executing the task at hand, not thinking of future goals.

Managers are responsible for maintaining, but leaders look to

innovate. Managers may involve employees in their activities, but often on

a “need to know” basis. Leaders, in contrast, work to inspire those around them

by trying to help others gain personal growth and development from their

activities and by turning weaknesses into strengths. Companies that have

“leader-managers” throughout the corporate hierarchy are the most

successful.

Info!!!!!!! :

Remember: Leaders may be managers, but not all managers are leaders!

distinguishes - வேறுபடுத்தி காட்டுவதாக

intelligence quotient - நுண்ணறிவு எண்

* Emotional Intelligence :

Daniel Goleman, an American psychologist, was able to analyze what

“distinguishes great leaders from good leaders”. It isn’t the intelligence

quotient (IQ) or technical skills, it’s emotional intelligence (EI): a group of five

skills that enable the best leaders to maximize their own and their followers’

performance.

The EI skills are: ( SA,SR, M,E,SS )

( Self-awareness )

( Social Skills)----( Emotional )----( Self-Regulation )

(Intelligence)

/ \

( Empathy ) ( Motivation )

own moods - சொந்த மனநிலைகள்

Cheer - உற்சாகம்

passion - வேட்கை ,persistence - விடாமுயற்சி, optimism-நம்பிக்கை

Self-awareness: விழிப்புணர்வு:

Self-regulation:சுய கட்டுப்பாடு:

Motivation : முயற்சி :

Empathy-பச்சாத்தாபம்

Social Skills: சமூக திறன்கள்:

proficiency - அறிவுத்திறமை, புலமை

* Self-awareness: The ability to recognize and understand your own moods,

feelings, and drives and also the effects on others.

* Self-regulation: The ability to change your moods. It means learning to

cheer yourself up and handling anger effectively.

* Motivation: A passion to work for reasons beyond money or status.

Pursuing goals with energy and persistence. Having optimism even in the

face of failure.

* Empathy: The ability to understand the social makeup of other people.

Treating people according to their emotional reactions.

* Social Skills: The proficiency in managing and sustaining relationships and

building networks.

Understanding emotional intelligence is especially important in light of changes in organizational structures.

Leadership Styles - தலைமைத்துவ பாங்குகள்

predominant- முதன்மையானதாக

compare and contrast - ஒப்பிடு மற்றும் மாறாக

Autocratic-எதேச்சதிகார, வரம்பு மீறி அதிகாரம் கொண்டு ஆள்பவர் சார்ந்த

Laissez-Faire--அது போகட்டும், அதை விடு

Democratic - ஜனநாயக

* Leadership Styles

Individual managers have their own styles of managing, and within

organizations, there is often a predominant style of leadership. The

predominant leadership styles – autocratic, democratic, and laissez-faire –

have many variations. We can compare and contrast the effectiveness

of each of these styles as it affects employee performance.

------------ --------------- ------------

------------ --------------- ------------

O O O

/|\ /|\ /|\

| | |

/ \ / \ / \

| | | ^

Do This! Do this or that as | | What doyou think

| you see fit We should do?

| | | |

v v v |

o O o o O o o O o

/|\ /|\ /|\ /|\ /|\ /|\ /|\ /|\ /|\

| G | | | G G | G

/ \ / \ / \ / \ / \ / \ / \ / \ / \

* Autocratic Leadership (வரம்பு மீறி அதிகாரம்)

This style of leadership is directive and controlling. The leader will make all

decisions without consulting employees. The autocratic style of leadership

limits employee freedom of expression and participation in the decision-

making process. It will not serve to create trust between managers and

subordinates. Further, creative minds cannot flourish under autocratic

leadership. Autocratic leadership may best be used when companies are

managing less experienced employees. But managers should not use the

autocratic leadership style in operations where employees expect to voice

their opinions.

* Laissez-Faire Leadership (அது போகட்டும்)

This style of leadership makes employees responsible for most of the decisions

that are made. This form requires extensive communication. Laissez-faire

leadership may best be used when employees are educated, knowledgeable,

and self-motivated. Employees must have the drive and ambition to achieve

goals on their own for this style to be most effective. Laissez-faire leadership

is not a good idea in situations where employees feel insecure.

consensus-ஒருமித்த கருத்து, delegate assignments - ஒதுக்கீட்டு பணிகள்,

empowerment -அதிகாரம்

* Democratic Leadership (ஜனநாயக)

This style of leadership is centered on employee participation and involves

decision making by consensus. The leader will involve employees in the

decision-making process and they will be encouraged to give input and

delegate assignments. Democratic leadership often leads to empowerment of

employees because it gives them a sense of responsibility for the decisions

made by management. Democratic leadership may best be used when working

with highly skilled employees. It is most useful for implementing organizational

changes and when the leader requires input from knowledgeable employees.

One of the down-sides of democratic leadership is that it may lead to endless

meetings.

Window !!!!!!! :

As with many categories that describe business concepts, an organization and

its leadership may apply any or all of these leadership styles. For instance,

a company may utilize an autocratic leadership style with the lower levels

but employ a democratic leadership style with its professional staff in the

upper levels.

transformational and transactional-உருமாறும் தலைமை மற்றும் பரிவர்த்தனை தலைமை

instill pride- பெருமையை ஊக்குவிக்கவும்

strive for behavioral compliance - நடத்தை இணக்கத்திற்காக பாடுபடுங்கள்

mutually exclusive - பரஸ்பரம், complement one another well-ஒருவருக்கொருவர் நன்றாக பூர்த்தி செய்யுங்கள்

Two additional styles of leadership worth exploring are

transformational and transactional. Both have strong ethical components and

philosophical underpinnings.

* Transformational Leadership (உருமாறும் தலைமை)

Leaders who have a clear vision and are able to articulate it effectively to

others often characterize this style of leadership. Transformational leaders

look beyond themselves in order to work for the greater good of everyone.

This type of leader will bring others into the decision-making process and will

allow those around them opportunity to learn and grow as individuals. They

seek out different perspectives when trying to solve a problem and are able to

instill pride into those who work under them. Transformational leaders spend

time coaching their employees and learning from them as well.

* Transactional Leadership( பரிவர்த்தனை தலைமை)

This leadership style is characterized by centralized control over employees.

The transactional leader will control outcomes and strive for behavioral compliance.

Employees under a transactional leader are motivated by the transactional

leader’s praise, reward, and promise. They may also be corrected by the leader’s

negative feedback, threats, or disciplinary action.

Info!!!!!!! :

The most effective leadership style is using a combination of styles. Leaders should

know when it is best to be autocratic and when to be democratic. They can also be

transformational and transactional at the same time; these are not mutually exclusive

styles and in fact can complement one another extremely well.

thumbnail-சிறுபடம் , employee empowerment-பணியாளர் அதிகாரம்

Leadership Trends (தலைமைத்துவ போக்குகள்)

------------------

In today’s competitive environment, leaders are continually searching for new

ideas and approaches to improve their understanding of leadership. Here are

thumbnail descriptions of current leadership trends.

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| | | | | | | | | |

| | | | | | | | | |

---------- ------------- ------------ ----------- ----------

* Coaching

A new trend in effective leadership, coaching, has become extremely popular

throughout different organizations. This style of leadership involves guiding

employees in their decision-making process. When coaching, management provides

employees with ideas, feedback, and consultation, but decisions will ultimately

be left in the hands of the employees. Coaching prepares employees for the

challenges they will face. The lower an employee’s skill and experience level,

the more coaching the worker will require. The interactions that an employee

has with the manager are the best opportunities they have for enhancing their

respective skills. Coaching enables the employees to excel at their tasks.

Instilling confidence in employees is extremely important.

self-esteem - சுயமரியாதை, loyalty to the organization -அமைப்புக்கு விசுவாசம்

* Employee Empowerment(பணியாளர் அதிகாரம்)

As organizations and companies become increasingly borderless, employee empowerment

becomes ever more important. This trend in leadership has allowed employees to

participate in the decision-making processes. Employee empowerment is also a method

for building employee self-esteem and can also improve customer satisfaction. It also

ties them more closely to the company goals and will serve to increase their pride

in their work and loyalty to the organization.

global perspective -உலகளாவிய முன்னோக்கு

* Global Leadership உலகளாவிய தலைமை)

As corporations become increasingly international in scope, there is a growing demand for

global leaders. Although many of the qualities that make a successful domestic leader will

make a successful global leader, the differences lie in the abilities of the leader to take

on a global perspective. Global leaders are often entrepreneurial; they will have the ambition

to take their ideas and strategies across borders. They will also have to develop cultural

understanding; global leaders must be sensitive to the cultures of those working under them,

no matter where they are based.

* Equitable Treatment (சமமான சிகிச்சை)

An important trend in leadership is the equitable treatment of employees. This

does not mean that each employee will be treated the same; it means that every employee will

be given the amount of individual attention they require, and it will involve leadership

knowing his or her employees. A good leader will get to know employees well enough to give them

what they need in order to best perform. For some employees that may mean more structure;

for others it may mean more freedom.

dampen employee-பணியாளரை தணிக்கவும்

* Feedback (பின்னூட்டம்)

Employees thrive on feedback, and by providing feedback and communicating effectively,

managers can give employees the tools they need to improve their performance. Providing

feedback will not dampen employee morale in most cases, but will allow opportunities for

employees to learn from their mistakes and move on to perform their tasks better. Positive

reinforcement should be used to encourage employees’ positive behavior, but when criticism is necessary, make sure it is constructive.

management model (மேலாண்மை மாதிரி)

* Management By Objectives (குறிக்கோள்களால் மேலாண்மை)

--------------------------

Management By Objectives (MBO) is a management model that aims to improve

the performance of an organization by defining objectives that are agreed

to by both management and employees. The term was first outlined by

Peter Drucker in 1954. In the long run, MBO allows the management to change

the organization’s mindset to become more result-oriented.

Set

corporate

objectives

^ \

/ v

Reward Set and align

employee employee Objectives

^ /

\ v

Evaluate Monitor

performance <--- Performance

Set and align - அமைத்து சீரமைக்கவும்

delegated through negotiations - பேச்சுவார்த்தைகள் மூலம் வழங்கப்பட்டது

Employee empowerment-பணியாளர் அதிகாரம்

emphasizes - வலியுறுத்துகிறது

distort results-முடிவுகளை சிதைக்கவும்

counterproductive-எதிர் உற்பத்தி

In MBO, the management focus is on the result, not the activity. The tasks are

delegated through negotiations and there is no fixed roadmap for the implementation.

The nature of its planning process provides opportunities for the employees to

find individual ways for accomplishing tasks.

Some of the important advantages are:

* Employee empowerment increases employee motivation, job satisfaction,

and commitment.

* Frequent reviews and interactions between superiors and employees

enable better communication and coordination.

* The goals are clear.

* Managers can ensure that objectives of the subordinates are linked to the

organization’s objectives.

However, there are also limitations:

* MBO over-emphasizes the setting of goals over the working of a plan as a

driver of outcomes.

* Not all tasks and jobs are suitable for MBO and not all employees are

motivated by finding their individual ways to accomplish tasks.

* It under-emphasizes the importance of the environment or context in which

the goals are set.

When this approach is not properly set and managed by organizations, some employees

might be susceptible to distort results. In this case, managing by objectives would

be counterproductive. Therefore, the use of MBO must be carefully aligned with the

culture of the organization. Objectives must be discussed openly and agreed upon.

Info!!!!!!! :

Management by Objectives (MBO) focuses on the result, not the activity.

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All teams are identical-அனைத்து அணிகளும் ஒரே மாதிரியானவை , identical -ஒத்த

3. Team Development:

--------------------

In today’s complex business environment driven by globalization, working in

teams is more important ever. But not all teams are identical. Are there

different types of teams? How do teams develop? And can we divide the process

of team development into specific stages?

Lesson Content

Teamwork

Types of Teams

Stages of Team Development

process meant to improve-செயல்முறை மேம்படுத்த வேண்டும்

foster communication-வளர்ப்பு தொடர்பு

avoid potential disputes-சாத்தியமான மோதல்களைத் தவிர்க்கவும்

morale of team members-குழு உறுப்பினர்களின் மன உறுதியும்

accomplish goals-இலக்குகளை அடைய

perspectives into play- முன்னோக்குகள் நாடகம்

intrateam synergies-

* Teamwork

-----------

Teamwork is defined as a group of people working together to achieve a common

goal. Team members are mutually responsible for reaching the goal toward which

they are working. Team building is a process meant to improve the performance

of the team and involves activities designed to foster communication and encourage

cooperation. Additionally, the objective is to avoid potential disputes and

problems and to keep the morale of team members high.

Many different industries and organizations use teams to accomplish goals because

people working together can often achieve more than they could individually.

How do you know if you need a team to complete a project? Ask yourself the

following questions:

* Can I achieve this goal by myself?

* Do I have the resources and time to undertake this project?

* Can a team of people be more effective than I would be in achieving this goal?

If your answers favor the involvement of others, it’s time to consider forming a team.

In an increasingly complex environment, organizations are using a team approach

to bring a diverse set of skills and perspectives into play. An effective use of teams

often draws upon a creative approach of bringing together specialists who combine their

efforts and develop intrateam synergies to meet the challenges of their often

complex oranizational environment.

Win!!!!!!! :

An example of an industry that often uses teamwork is the construction industry.

A successful construction project cannot take place without the formation of teams.

A design team will be formed at the beginning of the project and is made up of architects,

engineers, and project consultants. The design team alone, however, will not be able

to complete the project. They will also need to form a team with the owner of the

project and the contractor.

* Types of Teams

-----------------

Throughout different organizations, there are different types of teams that are

used to accomplish goals. Two of the most common team varieties are

problem-solving teams and cross-functional teams.

Problem-Solving Cross-Functional

* * *

| | / \

v --------- * *

*-> ? <-* | | | | | \ /

^ ^ * * * * *_______> *--* ( Connecting all the 5 dots of cross functional)

| |

* *

* Problem-Solving Teams: These teams are formed only for a specific time

period until a problem is solved. Team members often consist of one level of

management.

Win!!!!!!! :

Let’s say Corporation ABC has lost 10 percent of its North American market share.

All of ABC’s regional sales people will be called in to form a team to regain that

market share. Although their regional focus will remain, they will have to work

together to solve the problem of regaining that market share, and when they achieve

that goal, they will individually work on maintaining their hold in their market.

* Cross-Functional Teams: This type of team is made up of members from different

areas of the business and often from a common managerial level.

Win!!!!!!! :

If a car company wants to bring a new car to market, a team will be formed and its

members will consist of managers from different departments such as engineering,

design, brand management, product development, market research, marketing, and finance.

Necessary and inevitable-அவசியம் மற்றும் தவிர்க்க முடியாதது

* Stages of Team Development FSNP

-----------------------------

The forming–storming–norming–performing model of group development was first

proposed by Bruce Tuckman in 1965, who said that these phases are all necessary

and inevitable in order for the team to grow, face up to challenges, find

solutions, plan work, and deliver results.

Perfroming

^ -----

| / \

| /

S| /

E| /

N| /

E| Forming /

V| \ /

I| \ /

T| \ /

C| \ / Norming

E| \ /

F| \ /

E| -----

| Storming

---------------------------------------------------------------------------->

PERFORMANCE IMPACT

* Stage 1: Forming

------------------

The first stage involves assembling the team and defining the goals, which should

provide focus and be attainable. It is important that the team leader understands

the strengths of each of the team members in order to assemble a cohesive team.

Often in the forming stage, team members will be extremely polite to one another;

they will be feeling each other out. An example of a goal that the team may set

would be the project schedule. For a construction team, for example, there are many

stages of the project that should be completed in a certain time frame to ensure

that the project is completed on time for the owner. The design team designates

the appropriate amount of time for the construction phase in which the builder

will make a profit. It is important to agree upon and set this schedule from the

beginning.

* Stage 2: Storming

-------------------

The second phase involves coordinating efforts and solving problems. If the teamwork

starts to slip because of a difficult problem, it is necessary for the team members to

get the project back on track. Team members should be conscious of the team’s health and

whether the team is taking steps in the right direction to reach the goals. It may be

necessary to think creatively about approaches to solving a problem. Communication is

extremely important to effective team performance in the storming stage. Effective teams

communicate clearly and openly about problems. Ineffective communication can cause

unnecessary tension and stress to team members. It is important that communication be

relevant and responsive. Relevant communication is task-oriented and focused. Responsive

communication involves the willingness of team members to gather information, to actively

listen, and to build on the ideas and views of other team members.

* Stage 3: Norming

------------------

The project norms are an informal standard of conduct that guides the behavior of team members.

This stage involves defining team roles, rights, and responsibilities. It is important to establish

these norms at the beginning of the team-building process in order to avoid problems along the way.

In addition to allocating responsibilities, it may also be necessary to allocate the risk that is

to be undertaken by each team member. Each member of the team should have a sense of ownership of

the project. Allocating responsibility also means establishing a team leader. Team leadership

should not be a top-down effort but should be more of a coaching role. The team leader must act

as a cheerleader, encouraging the team members to work together, providing ideas, and serving as a

role model. There is often a period after the team has been formed when a conflict of personalities

or ideas will arise. Team members begin to show their own styles; they are no longer worried about

being polite. At this stage, there will be pessimism on the part of team members in relation to

the project and there may also be confusion.

* Stage 4: Performing

---------------------

By this stage, the team is working together effectively, problems have been smoothed out, and

achievements begin to become evident. A great deal of work will be accomplished at this stage.

The team will be able to tackle new tasks easily and confidently. They will be comfortable using

creative means. It is essential at this point to evaluate and report on the progress that

has been made.

Info.!!!!!!! :

The four stages of team development are:

1. Forming > 2. Storming > 3. Norming > 4. Performing

-------

Decision Making Process - முடிவெடுக்கும் செயல்முறை

Hidden Traps - மறைக்கப்பட்ட பொறிகள்

deliberate, thoughtful decisions - வேண்டுமென்றே, சிந்தனைமிக்க முடிவுகள்

formulated similar prescriptive steps - ஒத்த பரிந்துரைக்கப்பட்ட படிகளை வகுத்தது

DECIDE model - மாதிரியை முடிவு செய்யுங்கள்

crucial components of decision making - முடிவெடுக்கும் முக்கியமான கூறுகள்

crucial- முக்கியமான, establish-நிறுவுங்கள், intended - நோக்கம்

acronym (ˈakrəˌnim) - சுருக்கெழுத்து, criteria - அளவுகோல்கள் ( measurement )

Establish the criteria-அளவுகோல்களை நிறுவுங்கள்

4. Decision-Making

------------------

We all have to make decisions every day. Some of them are quite simple, others are more difficult.

The best way to make a decision is to use an effective process. Clear processes usually improve

the quality of our decisions and lead to high-quality results.

Lesson Content

Decision Making Process

Hidden Traps

* Decision Making Process

-------------------------

Some decisions are easy ones. But in the professional world, you will face complicated

and high-impact choices that can affect your business’s bottom line. Decision making

is the process of making choices by identifying a decision, gathering information,

and assessing alternative resolutions. Using a step-by-step decision-making process can

help you make more deliberate, thoughtful decisions by organizing relevant information and

defining alternatives. A variety of researchers have formulated similar prescriptive steps

aimed at improving decision-making.

In this chapter, we want to introduce the DECIDE model by Kristina Guo. The DECIDE

model was intended as a resource for health care managers when applying the

crucial components of decision making, but it also enables managers to improve their

decision-making skills, which leads to more effective decisions.

The DECIDE model is the acronym of 6 particular activities needed in the decision-making process:

( Problem to solution - 6 steps.)

|\/|

|D | Define the Problem

|\/|

|E | Establish the criteria

|\/|

|C | Consider all the alternatives

|\/|

|I | Identify the best alternative

|\/|

|D | Develop and implement a plan of action

|\/|

|E | Evaluate the solution

different perspective - வெவ்வேறு முன்னோக்கு

* Step 1: Define the Problem

Firstly, make sure to define what you want to achieve. Also, pay attention to involving

the right people and encourage participants to contribute to the discussions. You can

use your creativity right from the start – thinking from a different perspective might

deliver the best solutions.

* Step 2: Establish the criteria

Collect some information: what information is needed, the best sources of information, and

how to get it. This step involves both internal and external “work.” Some information is

internal: you’ll seek it through a process of self-assessment. Other information is external

you’ll find it online, in books, from other people, and from other sources.

more comprehensive- மேலும் விரிவானது, brainstorming - மூளைச்சலவை

feasibility, risks, and implications- சாத்தியக்கூறு, அபாயங்கள் மற்றும் தாக்கங்கள்

determine -தீர்மானிக்கவும், adequate - போதுமானது, objectives - நோக்கங்கள்

* Step 3: Consider all the alternatives

The more good options you consider, the more comprehensive your final decision will be.

When you generate alternatives, you force yourself to look at the problem from different

angles. If you do so, you’re more likely to make the best decision possible. Generating

ideas through brainstorming and considering different perspectives will help you and your

team develop good alternatives: Evaluate the feasibility, risks, and implications of each

choice. By evaluating the risk involved with various options, you can determine whether

the risk is manageable. Determine if resources are adequate, if the solution matches your

objectives, and if the decision is likely to work in the long term.

compare unlike factors - காரணிகளைப் போலல்லாமல் ஒப்பிடுங்கள்

factors - காரணிகள்

* Step 4: Identify the best alternative

The next step is to choose between the alternatives. Compare all the choices you have and

determine the relative importance of various factors. This helps you compare unlike factors,

and decide which ones should carry the most weight in your decision. You may even choose

a combination of alternatives.

* Step 5: Develop and implement a plan of action

Once you’ve made your decision, it’s important to explain it to those involved in implementing

it. Talk about why you chose the alternative. The more information you provide about risks and

projected benefits, the more likely people are to support the decision.

* Step 6: Evaluate the solution

In this final step, consider the results of your decision and evaluate whether or not it has

resolved the need you identified in Step 1. If the decision has not met the identified need,

you may want to repeat certain steps of the process to make a new decision. For example,

you might want to gather more detailed or somewhat different information or explore additional

alternatives.

what-ifs at play - நாடகத்தில் என்ன என்றால்

hypothetical stable business - அனுமான நிலையான வணிகம், perspectives - முன்னோக்குகள்

Info.!!!!!!! :

No one makes perfect decisions all of the time. Business environments are constantly changing

and there are lots of unknowns and what-ifs at play. Challenge yourself to go beyond the

perfect hypothetical stable business environments, and include other people in your

decision-making process to get new and different perspectives.

Hidden Traps - மறைக்கப்பட்ட பொறிகள்

sabotage the choices - தேர்வுகளை நாசப்படுத்துங்கள்

(ˈaNGkər)anchor subsequent - நங்கூரம் அடுத்தடுத்த

subsequent judgment - அடுத்தடுத்த தீர்ப்பு

Anchoring - தொகுத்தல்

Status Quo - நிலைமை

Bias towards - நோக்கி சார்பு

(per·pe·tu·à·re)prepetuate status - முன்கூட்டியே நிலை

Sunk Cost - மூழ்கியது செலவு , irrecoverable - மீளமுடியாதது

Confirming evidence- ஆதாரங்களை உறுதிப்படுத்துகிறது

Framing - Gathering

Estimating Forecasting - முன்னறிவிப்பை மதிப்பிடுதல்

Clouded ability to asses probabilities - நிகழ்தகவுகளின் மேகக்கணி திறன்

* Hidden Traps

--------------

Bad decisions can often be traced back to the way the decisions were made – the alternatives

were not clearly defined or we missed the right information. But sometimes the fault lies not

in the decision-making process but rather in the mind of the decision-maker. The way the human

brain works can sabotage the choices we make. Harvard Professor John S. Hammond formulated

six decision making traps.

Each of these traps can influence how we make decisions. Being aware of the potential traps

and building tests and disciplines into our decision-making processes can assist.

-------------------- -------------------- ---------------------

-------------------- -------------------- ---------------------

| judgments | | quo | | |

-------------------- -------------------- ---------------------

-------------------- -------------------- ----------------------

-------------------- -------------------- ---------------------

disproportionate-சமமற்றது

Trap 1: Anchoring

We tend to give disproportionate weight to the first information we receive on a particular issue.

In negotiating, for example, people will often center around the first offer even if this is not

necessarily reasonable.

Tip: Avoid judging on the first impression and seek information from a variety of sources!

Trap 2: The Status Quo

In most cases, our decision making is biased towards the current situation (status quo), because

it is the “safe” and comfortable option.

Tip: Ask yourself if you’d choose the status quo choice if it weren’t the status quo!

justifies past - கடந்த காலத்தை நியாயப்படுத்துகிறது

flawed choices - குறைபாடுள்ள தேர்வுகள்

counter position - எதிர் நிலை

framed - கட்டமைக்கப்பட்ட (Built....)

Pose questions in a neutral manner - நடுநிலை முறையில் கேள்விகளை எழுப்புங்கள்

Trap 3: Sunk Cost

Sunk costs have little to do with making a decision today as they relate to past costs

and experiences, but they still are in our minds and often lead us to make inappropriate

decisions. This trap relates to making choices in a way that justifies past, flawed choices.

Tip: Get views of people who weren’t involved in the previous decisions!

Trap 4: Confirming Evidence

We often look for evidence or opinions that will support and justify our own position

or decisions and place more weight on these issues than they deserve.

Tip: Ask somebody to play Devils’ Advocate (taking the counter position)!

Trap 5: Framing

How a question is framed can have an impact on the answer you select. A common framing

trap is to frame a question in terms of gains or losses. People tend to pick the decision

that is formulated least risky regardless of the real content.

Tip: Pose questions in a neutral manner!

tend to be overconfident - அதிக நம்பிக்கையுடன் இருக்கும், tend to - முனைகின்றன

accuracy-துல்லியம்

vivid memories - தெளிவான நினைவுகள்

overly influence - அதிக செல்வாக்கு

Trap 6: Estimating and Forecasting

Even though most of us are not very good at making proper forecasts, we actually

tend to be overconfident about our accuracy. Additionally, we are overly influenced by

vivid memories of past events when estimating.

Tip: Be disciplined in forecasting and use statistics instead of personal impressions!

concert கச்சேரி, amplifying one another - ஒருவருக்கொருவர் பெருக்கி

initial inclination-ஆரம்ப சாய்வு

hasty decision-அவசர முடிவு

(prəˈpiSHəs) propitious time- உகந்த நேரம்

miscues cascade - தவறான அடுக்கை

The six traps can all work in isolation. But, even more dangerous, they can work in

concert, amplifying one another. A dramatic ﬁrst impression might anchor our thinking,

and then we might selectively seek out conﬁrming evidence to justify our initial inclination.

We make a hasty decision, and that decision establishes a new status quo. As our

sunk costs mount, we become trapped, unable to ﬁnd a propitious time to seek out a

new and possibly better course. The psychological miscues cascade, making it harder

and harder to choose wisely.

in isolation or in combination - தனிமையில் அல்லது இணைப்பில்

Forewarned is forearmed-முன்னறிவிப்பு முன்கூட்டியே உள்ளது

eradicate the distortions ingrained - வேரூன்றியிருக்கும் சிதைவுகளை ஒழிக்கவும்

eradicate- ஒழிக்க, distortions- சிதைவுகள், ingrained- வேரூன்றிய

Info.!!!!!!! :

The best protection against all psychological traps – in isolation or in combination –

is awareness. Forewarned is forearmed. Even if you can’t eradicate the distortions ingrained

into the way your mind works, you can build tests and disciplines into your decision-making

process that can uncover errors in thinking before they become errors in judgment.

-------

5. Project Management :

-----------------------

This chapter provides a practical approach to what many consider a complex process:

the management of projects. We will define project management and simplify the processes required

to manage a project successfully from beginning to end.

Lesson Content

--------------

Project Definition

Phase 1: Initiation

Phase 2: Planning

Phase 3: Execution

Phase 4: Closure

(IPEC)

unique endeavor to produce- உற்பத்தி செய்வதற்கான தனித்துவமான முயற்சி

endeavor- முயற்சி

* Project Definition

--------------------

What is a Project?

A project is “a unique endeavor to produce a set of deliverables within clearly specified time, cost

and quality constraints”.(TCQ) A project can be as small as moving your office or as complicated as

moving your entire company from one location to another. It can involve one person or hundreds

of people. There are, however, certain characteristics that most projects have in common. Some

typical projects are launching a new product or process, implementing a new company software,

replacing existing manufacturing equipment or reorganizing a department, division, or organization.

Project Management is the skills, tools and management processes required to undertake a

project successfully.

* Projects differ from standard business operational activities :

-----------------------------------------------------------------

* Projects are <unique> in nature. They are one-time events and they do not involve repetitive

processes. Every project undertaken is different from the last, whereas operational activities

often involve repetitive processes.

* Projects have a defined <timescale>. Projects have a clearly specified start and are required

to be completed by a certain deadline.

* Projects have limited <resources>. An agreed budget as well as amount of labor, equipment

and materials are allocated to the project. This limitation requires effective coordination

of different people, resources, and processes.

Projects entail- திட்டங்கள் அடங்கும்

* Projects involve an element of <risk>. Projects entail a level of uncertainty and therefore

carry business risk should the project fail.

* Projects achieve beneficial <change>. The purpose of a project, typically, is to improve an

organization through the implementation of business change.

A simple way of approaching project management is to see it as a process with four major phases.

We will explain each of these four phases on the following pages.

Initation Phase - துவக்க கட்டம்

(IPEC) - 4 Phases : 4 கட்டங்கள்,

------------

| Initation |

| Phase |

------------

^ \

/ v

------------ ------------

| Closure | | Planning |

| Phase | | Phase |

------------ ------------

^ /

\ v

--------------

| Execution |

| Phase |

--------------

* Phase 1: Initiation :

-----------------------

------------

| Initation |

| Phase |

------------

resource implications - ஆதார தாக்கங்கள்

Scope creep - வாய்ப்பு நகர்ந்து செல்

The Initiation Phase is the first phase of the project. Before work on the project

can be started, it’s necessary to clearly define what the outcomes of the project will be.

This involves not only what specifications and criteria the final project must meet,

but when it must be completed and what the budget is. This will probably require some

study and analysis, addressing questions about the project such as:

* What’s the objective? ( நோக்கம் என்ன?)

* What are the expected, required, and desired results?

* How will success be measured?

* What’s the timeframe?

* What are the resource implications?

Essential to effective project management is a clear description of the scope of the project – what

is included in the project, what is not included, and where the boundaries between the two are set –

established at the start of the project. ‘Scope creep’ is the term for what may occur

when the scope is not well defined: as the project progresses, it grows. It thus becomes

more difficult to complete the project or satisfy the client.

Info.!!!!!!! :

Imagine you are a project manager in an American construction company and your firm won a

contract to design and build the first copper mine in Northern Argentina. There is no

existing infrastructure for either the mining industry or large construction projects in

this part of South America.

During the initiation phase of the project, you should focus on defining and finding a

project leadership team with the knowledge, skills, and experience to manage a large complex

project in a remote area of the globe. You decide to open two offices: One in Buenos Aries

to establish relationships and Argentinian expertise, and the second in Catamarca – the

largest town close to the mine site. With offices in place, the project start-up team began

developing procedures for getting work done, acquiring the appropriate permits, and developing relationships with Argentine partners.

* Phase 2: Planning

--------------------

------------

| Planning |

| Phase |

------------

Once the outcome of the project has been defined, the project enters the detailed

< planning phase >. It’s important to develop a plan of what work needs to be done,

what resources are needed, who will do it, and when.

The level of detail needed in the plan will be determined by the complexity of the project

and the number of people involved. The plan will probably not be followed exactly –

things will happen that lead to adjustments and modifications. One reason for having

the plan is to be able to see what needs to be adjusted when a task takes longer

than expected or people or other resources are not available when needed.

In developing the plan, consider the specifications from the client and any required

completion date, the budget, the best sequence of events (and whether any steps can

be carried on concurrently), the staff needed and the need for any staff training for

their part in the project.

The planning phase involves the creation of:

* a Project Plan (that outlines the activities, tasks, dependencies, and timeframes);

* a Resource Plan (that lists the labor, equipment, and materials required);

* a Financial Plan (that identifies the labor, equipment and materials costs);

* a Risk Plan (that highlights potential risks and actions taken to mitigate them); and

* a Communications Plan (that lists the information needed to inform stakeholders).

Two key components of any plan are < milestones > and < status reports >. A

milestone marks the end of a stage or period of the project, and may also be tied

to a project deliverable, a specific product provided to the client. During the

planning, identify and establish milestones along the way to provide an indicator

of progress and successes, and the impact of difficulties or delays that have been

encountered. Also, establish a schedule and procedure for communicating the status

and progress of the plan on a regular basis. Regular timely sharing of this information

will allow the opportunity to adjust the plan and re-balance the quality, time and cost

constraints.

Info.!!!!!!! :

During the planning phase, your project team develops an integrated project schedule

that coordinates the activities of the design, procurement, and construction teams.

* The project controls team also develops a detailed budget that enabled the

project team to track project expenditures against the expected expenses.

* The project design team builds the conceptual design and developed detailed

drawings for use by the procurement team.

* The procurement team uses the drawings to begin ordering equipment and

materials for the construction team; develop labor projections; refine the

construction schedule; and set up the construction site.

Although planning is a never-ending process on a project, the planning phase focused o

n developing sufficient details to allow various parts of the project team to

coordinate their work and allow the project management team to make priority decisions.

At this point, the project has been planned in detail and is ready to be executed.

tangible components - உறுதியான கூறுகள்

detours - மாற்றுப்பாதைகள்

interim, partial, or pilot products - இடைக்கால, பகுதி அல்லது பைலட் தயாரிப்புகள்

team accomplishes - அணி சாதிக்கிறது

* Phase 3: Execution

---------------------

^ /

\ v

--------------

| Execution |

| Phase |

--------------

The < execution phase > may be the longest and most visible phase of the project. It is during

this stage that activities move from paper to more tangible components. It’s important

to monitor progress, track milestones, and regularly communicate the progress,

delays, or detours, both internally to the project team and organization,

and externally to the client.

Monitoring progress and tracking milestones can mean inspecting and testing

interim, partial, or pilot products, auditing work records, or holding progress

review meetings to compare the original plan of what would be done when and by

whom to the actual work and output.

Info.!!!!!!! :

During the execution phase, your project team accomplishes the work defined in the plan

and makes adjustments when the project factors changed. Equipment and materials are

delivered to the worksite, labor is hired and trained, a construction site is built,

and all the construction activities, from the arrival of the first dozer to the

installation of the final light switch, are accomplished.

* Phase 4: Closure

------------------

------------

| Closure |

| Phase |

------------

The project < closure phase > involves releasing the final deliverables to the

customer, handing over project documentation, terminating supplier contracts,

releasing project resources and communicating the closure of the project to all

stakeholders.

While whatever has been created or developed may go on, the project team’s

work is done. Activities at the closing of the project can be split into two

categories: those for the client or stakeholder, and

those for the team and organization.

* For the client: Those who will be using the product need information to do their

job effectively. This information includes training and documentation to be turned over

to those responsible on a daily, ongoing basis for the new or revised process,

system, or product. Also included is a formal sign-off that indicates the client

has accepted the product or system.

accomplishments - சாதனைகள்

* For the project team: Evaluate how the project management process worked and

record lessons learned. Celebrate the completion of the project and the team’s

accomplishments. Then release or reassign the resources (staff, equipment,

and facilities) to their regular jobs or to new projects.

Info.!!!!!!! :

The closure phase includes turning over the newly constructed plant to the operations

team of the client. A punch list of a few remaining construction items is developed

and those items completed. You close the office in Catamarca and the office in

Buenos Aries archives all the project documents. You close the accounting books,

write the final reports, and start with your next project. Good job!

-------

* 6. Negotiation :

------------------

A negotiation should never be a conflict in which one party wins and one party loses.

Negotiation is about cooperation. Both parties should have the feeling that they have

won something. The primary goal should be to achieve a deal that both parties can live

with and that accomplishes your goals.

Lesson Content

Negotiation Styles and Preparation

Negotiation Process and Traps

appease all parties-அனைத்து கட்சிகளையும் சமாதானப்படுத்துங்கள்

* Negotiation Styles and Preparation

-------------------------------------

There are two major negotiation styles: hard and soft bargaining. Hard bargainers

use a relatively aggressive negotiation style. The focus is on achieving own goals,

whereas the other party’s situation is unimportant. Soft bargainers, on the other hand,

try to find solutions that appease all parties. They act more patient and more trustworthy.

|\ /|

------------| \ / | ------------

| \ / |

| Hard \ / Soft |

| Bargaining \ Bargaining |

| / \ |

-------------| / \ |-------------

|/ \|

Roger Fisher and William L. Ury, both Professors from Harvard Law School, recommend a

negotiation style called win-win negotiation. As the name suggests, this technique fits

into the category of soft bargaining styles. They base their principled negotiation,

also called the Harvard method, on the following four points:

1. Focus on the interests of all parties, not their positions.

2. Separate the people from the issue.

3. Make a list of creative options that meet the interests of both parties.

4. Base the end result on an objective standard.

Here are some steps you should consider before the negotiation process starts:

* Choose a meeting location where you feel comfortable.

* Establish your goals and make sure, that they are realistic.

* Research the other party’s members and their positions.

* Gather facts and information about the subject of the negotiation.

* Focus on the other side’s interests to find win-win solutions.

* Try to find options that meet the interests of both parties.

* Define your “best alternative to a negotiated agreement” (BATNA)

Info.!!!!!!! :

What does the “best alternative to a negotiated agreement” (BATNA) mean? It is

the exact point when the deal the other side is offering is no longer beneficial

to you. For example, if you are negotiating about getting a job at firm A and

you already have a job offer from firm B worth $40,000 per year, this salary

is your current BATNA.

*Negotiation Process and Traps

-------------------------------

Regarding the negotiation process, there are some strategies and tricks you should consider:

* Make the other side feel comfortable and use small talk to break the ice.

* Use “active listening” (listen carefully, be patient, ask questions, show interest).

Periodically repeat and summarize what they are saying so they will realize that you

are taking them seriously and actually listening to them.

* Begin with those points most likely to be agreed upon and then proceed in descending

order of what is likely to be agreed upon.

* Never give up “something for nothing.” Always link something that you are asked to

give up with something that you want.

* Try to see the other person’s side and separate the people from the issue. Let the

other party know that you are seeking a win-win resolution so that both parties gain

rather than one party winning at the expense of the other.

* Don’t be afraid to walk away, when you can’t find an agreement.

Finally, there are some traps in negotiating that people may use while negotiating with you:

* In many cases, parties try to make even very small changes after both parties already

agreed to all parts of a contract. This trick, often used to make minimal changes, is

called nibbling.

* Using the good guy, bad guy-trick, one individual you are dealing with is a hard,

aggressive bargainer whereas another one will try to make you believe he is working

as a mediator.

* A party could set you an ultimatum (இறுதி எச்சரிக்கை) to intimidate you and get you to

sign the agreement quickly.

* By using the trick of limited authority, people may also offer you a deal, agree with

you on it and pretend shortly before signing the contract, that their supervisor will only

approve the deal for a slightly higher price.

* You should also be prepared for checking statistical data the other side shows you.

Not all data is trustworthy.

-------

7. Change Management :

----------------------

We live in a world where “business as usual” is change. New initiatives, technology

improvements, staying ahead of the competition – these things come together to drive

ongoing changes to the way we work. Here we will introduce the most important

change management models.

Lesson Content

Lewin: Three Phases Change Model

Kotter: 8-Step Change Model

Responses to Change

* Lewin: Three Phases Change Model

----------------------------------

One of the most popular models for understanding organizational change was developed

by Kurt Lewin. Lewin explained change using the analogy of changing the shape of a

block of ice in three steps. If you want to change a cube of ice towards a cone of

ice, you must…

* melt the ice (unfreeze),

* mold the water into the shape you want (change), and

* solidify the new shape (refreeze).

(UCR)

Therefore, his model is known as Unfreeze-Change-Refreeze model.

~~~~~~~~

/ \

/ v

--------------- --------Change -----------------

| | | | | |

| | | | | |

-------- Unfreeze ------------- ------------Freeze

\ ^

\ /

~~~~~~~~

Stage 1: Unfreeze

The first stage is about getting ready to change. It involves getting to a point of

understanding that change is necessary and getting ready to move away from our

current comfort zone. Key to this is developing a compelling message showing why the

existing way of doing things (status quo) cannot continue. The more we feel that change

is necessary, the more urgent it is, the more motivated we are to make the change. This

first stage involves moving ourselves, or a department, or an entire business towards

motivation for change. “Unfreezing” is usually difficult and stressful. When you start

cutting down the way things are done, you put everyone and everything off balance.

Stage 2: Change

Change is not an event, but rather a process. That’s why the second stage can also be

called “transition”. People are now moving towards a new way of being. They start to

believe and act in ways that support the new direction. This is not an easy time as

people are learning about the changes and need to be given time to understand and

work with them. People need time to understand the changes and they also need to feel

highly connected to the organization throughout the transition period. It’s important

to keep communicating a clear vision of the desired change and the benefits to people.

Stage 3: Refreeze

This stage is about establishing stability once the changes have been made. The changes

are accepted and become the new norm. This means making sure that the changes are used

all the time; and that they are incorporated into everyday business. With a new sense of

stability, employees feel confident and comfortable with the new ways of working. As part

of the Refreezing process, make sure that you celebrate the success of the change – this

helps them believe that future change will be successful.

Info.!!!!!!! :

Lewin’s change model is a simple and easy-to-understand framework for managing change.

You start by creating the motivation to change (unfreeze). You move through the change

process by promoting effective communications and empowering people to embrace new ways

of working (change). And the process ends when you return the organization to a sense of

stability (refreeze), which is so necessary for creating the confidence from which to

embark on the next, inevitable change.

embark - தொடங்கவும்,

inevitable-தவிர்க்க முடியாதது

* Kotter: 8-Step Change Model

-----------------------------

Although Lewin’s model helps to describe and understand change management, there are more

detailed models that focus on how to “do” change. John Kotter, a professor at Harvard

University and world-renowned change expert, identified eight stages of change a company

must successfully complete to achieve lasting, sustainable business improvements.

/- - - - ->

/ Implementing and

/-/ sustainig change

/- - - - - - - - - - - - --/ ---

/ Engaging and enabling --- |||||

/ the whole organization --- ||||| |||||

/ - - - - - - - - -/ --- |///| ||||| |||||

/ Creating a climate --- |///| |///| ||||| |||||

/ for change --- |///| |///| |///| ||||| |||||

--- | | |///| |///| |///| ||||| |||||

--- | | | | |///| |///| |///| ||||| |||||

| | | | | | |///| |///| |///| ||||| |||||

| 1 | | 2 | | 3 | | 4 | | 5 | | 6 | | 7 | | 8 |

---------------------------------------------------------------------------

Create Create a Develop Communicate Empower Get quick Leverage Embed in

urgency coalition a vision the vision action wins wins to culture

and drive

strategy change

Step 1: Create Urgency

During this first step, it is essential to ensure that the employees are motivated to participate.

A change is only successful if the whole company really wants it. If you are planning to make a change,

then you need to make others want it. Develop a sense of urgency around the need for change. This may

help you spark the initial motivation to get things moving. Open an honest and convincing

dialogue about what’s happening in the marketplace and with your competition. If many people start

talking about the change you propose, the urgency can build and feed on itself.

Step 2: Form a Powerful Coalition (சக்திவாய்ந்த கூட்டணி)

Convince people that change is necessary. This often takes strong leadership and visible

support from key people within your organization. You can find effective change leaders throughout your

organization – they don’t necessarily follow the traditional company hierarchy. To lead change, you need

to bring together a coalition, or team, of influential people whose power comes from a variety of sources,

including job title, status, expertise, and political importance. Once formed, your “change coalition” needs

to work as a team, continuing to build urgency and momentum around the need for change. Make them feel that

they are important within the team.

directives-வழிமுறைகள்

Step 3: Create a Vision for Change

Create a vision that clearly defines where the organization is going. When you have a clear vision, your

team members know why they are working on the change initiative and the rest of the staff know why your

team is doing the change. A clear vision can help everyone understand why you’re asking them to do something.

When people see for themselves what you’re trying to achieve, then the directives they’re given tend to make

more sense.

Step 4: Communicate the Vision

Creating a vision is not just enough for you to implement the change. You need to communicate your

vision frequently and powerfully, and embed it within everything that you do. Talk about it every

chance you get – this could be in meetings or just talking over the lunch. When you keep it fresh

on everyone’s minds, they’ll remember it and respond to it. However, what you do is far more important

than what you say. Demonstrate the kind of behavior that you want from others.

Step 5: Remove Obstacles

No change takes place without obstacles. Always, there are people, who resist the change. Watch out

for obstacles and remove them as soon as they appear. Put in place the structure for change and

continually check for barriers to it. Removing obstacles will increase the morale of your team, and

it can help the change move forward.

Step 6: Create Short-Term Wins

Give your company a taste of victory early in the change process. Quick wins are the best

way to keep the momentum going, because nothing motivates more than success. Create not just

one long-term goal but also short-term targets. By quick wins, your team will have great

satisfaction and the company will immediately see the advantages of your change

initiative.

Step 7: Build on the Change

Many change projects fail because victory is declared too early. Real change runs deep. Quick wins

are only the beginning of what needs to be done to achieve long-term change. Each success provides

an opportunity to build on what went right and identify what you can improve.

Step 8: Anchor the Changes in Corporate Culture

Finally, the change should become part of the core of your organization. “In the final analysis,

change sticks when it becomes the way we do things around here, when it seeps into the bloodstream

of the corporate body” (John Kotter). Use mechanisms to integrate the change into people’s daily

life and corporate culture. It’s also important that your company’s leaders continue to support

the change. If you lose the support of these people, you might end up back where you started.

Info.!!!!!!! :

Each of the steps that Kotter outlines in his process is important, but none may be as crucial as

the first one. Kotter noted that for change to happen at least 75% of the company’s management has

to be on board. That’s why it is so important to take the time and effort to build the urgency

necessary to get others to buy-in to your change-related projects.

-------

* Responses to Change

---------------------

In the constantly changing corporate world, the one who welcomes the changes stays ahead of the competition.

But you have to work hard to change an organization successfully. When you plan carefully and build the proper

foundation, implementing change can be much easier, and you’ll improve the chances of success. If you’re too

impatient, and if you expect too many results too soon, your plans for change are more likely to fail.

Create a sense of urgency, train powerful change leaders, build a vision and effectively communicate it, remove

obstacles, create quick wins, and build on your momentum. If you do these things, you can help make the change

part of your organizational culture. That’s when you can declare a true victory.

inevitable- தவிர்க்க முடியாதது, channelers, Resistors-மின்தடையங்கள்,Accelerators-முடுக்கிகள்

Individuals often have three different responses to change. Some will be obvious (வெளிப்படையானது) in either their

support (accelerators) or their opposition (resistors), while others accept the fact that some degree of change is

inevitable (channelers).

Resistors

/ \

* *

Accelerators Channelers

* Accelerators: People in this group are interested in accelerating the changes they see coming.

These are the people who typically feel marginalized or unfulfilled by the status quo and actually

want change. Accelerators want to put the pedal to the metal for change, to really pour it on.

* Resistors: The second group are the Resistors who, as their name implies, are conservative

with regard to some potential change and will resist that change. Resistors are typically those

who derive their sense of self and place from the status quo (like Elites) and for whom any

change from the current state of affairs is undesirable.

* Channelers: The third group are the Channelers. These are the stakeholders who recognize

that change is coming, typically accept that some degree of change is inevitable, and therefore

attempt to channel it as much as possible to align with their preferences and values.

Identifying resistance to change and managing it quickly is vital to your change management

process; failure to do so can derail even the most carefully planned change. Reinforcing supporters

alone will not guarantee a successful change process.

The first step to overcoming resistance is to understand why the resistance is there. The primary

reason for resistance is that change requires employees to alter their existing individual and

organizational identities. Once you have identified the true sources of resistance to the change,

you can work to address them. This may require individual attention. Following are some tips

for dealing with resistance once you’ve identified the cause.

* Ask the resisters to explain why they are resistant. You might learn something that you

didn’t know before and you could even improve the change process.

* Demonstrate the benefits of adapting to change. You might use personal gains such as

potential salary increase, recognition, promotion opportunities, etc.

* If resistance is due to a general fear of what the change might mean to them, consider

putting the resister on a team that is determining how to implement the change. For example,

a front-line person may be afraid that upper-level decision-makers won’t understand exactly

how the change will impact them on a day-to-day basis. Putting this person on the implantation

team lets them understand the process and can also provide valuable information.

* Discuss the change in broad-based meetings to put everyone on the same page and provide

everyone with the same information.

* Although it is unpleasant to consider, individuals who stay resistant may have to leave

the organization. However, training new employees is more expensive and knowledge will be lost.

Remember that most employees will eventually adapt to change if given the right incentives,

the right information, and support.

-------

8. Crisis Management

--------------------

Crisis management is the process by which an organization deals with a major threatening e

vent. Whether an earthquake destroys infrastructure, computer hackers attack a company’s website,

or a key manager leaves the company with no replacement – all these events must be addressed

immediately.

Many different models of Crisis Management exist in the public and private sectors.

This section argues that Crisis Management can best be defined by the following

six-stages process model:

Containing the Crisis - நெருக்கடியைக் கொண்டுள்ளது

|\/|

|1:| Avoiding the Crisis

|\/|

|2:| Preparing to Manage the Crisis

|\/|

|3:| Facing the Crisis

|\/|

|4:| Containing the Crisis

|\/|

|5:| Resolving the Crises

|\/|

|6:| Learning from the Crisis

Stage 1: Avoiding the Crisis

Crises are unpredictable, but they do not have to be entirely unexpected. As a manager, you have to

prepare for crises when things are going well. Key to good preparation is not only crisis management

planning but also the implementation of training and exercising.

* Include crisis planning in your overall strategic planning process and talk to people

from other areas of your company about risks in your industry.

* Perform the SWOT analysis: Find strengths and weaknesses of your company as well as, environmental

opportunities and threats for your business.

* Develop a crisis-risk list: What are the worst things that could go wrong? And what are the

most likely crises that could occur?

consequences -விளைவுகள்

Stage 2: Preparing to Manage the Crisis

In the second step, a manager should develop a crisis plan. Consider everything that might go

wrong, and assess the costs if it should. After selecting a what-if scenario and possible consequences

he/she should brainstorm the kinds of decisions that will have to be made.

Perform a reality check on your plan by brainstorming possible side effects.

Form a crisis-management team and create a communications plan with key persons.

Think about what resources will be needed to handle the crisis.

Stage 3: Facing the Crisis

In this stage, you have to face unpleasant situations – things get serious! But is the current situation

a crisis? In this stage, you have to characterize the event and evaluate the size of the crisis. Furthermore,

you have to evaluate honestly how you manage the situation.

* Estimate the size of the crisis: How many people are involved? Who and where are they?

* Get a team in place as quickly as possible.

* Get all the information you can get about what’s happening.

Stage 4: Containing the Crisis

The fourth stage is about damage control and communicating. You have to make decisions – and you have to

make them quickly. Be on the scene and show physical presence, respond to your people and communicate

critical information to them.

* Stop rumors and false information. Inform key people who need to know and do so quickly.

* Stick to the facts and Make your message straightforward and confident.

* Communicate honestly (otherwise people may blame you for failure).

Stage 5: Resolving the Crises

A crisis requires fast, confident decision making. Therefore, managers should not be paralyzed when there are

no standard operating procedures. Often, they just have to trust their judgment and take action. By making

decisions, ensure that the safety of the people is always prioritized and that you grasp new developments.

* Focus on what is in your control and ignore what is not.

* Help everyone work together and draw people together to act as a team.

* Avoid blaming others.

Stage 6: Learning from the Crisis

Once the crisis has passed, you can use the experience and make changes to prepare for a similar crisis.

A manager should review how the crisis was handled and plan ahead.

* Try to find out, if there were warning signals that you may have ignored.

* Evaluate what you did right and what you could improve.

* Get input from everyone.

------

adhere-பின்பற்றுங்கள், ஒட்டிக்கொள்

9. Business Ethics

-------------------

Business ethics deal with moral guidelines and good corporate governance. Companies are supposed to set high standards and

adhere to certain common business practices. In this chapter, we will cover the essentials of business ethics,

social responsibility, and sustainability.

Lesson Content

Ethics and Law

Social Responsibility

Sustainability

Ethics and Law-நெறிமுறைகள் மற்றும் சட்டம்

Sustainability-நிலைத்தன்மை

* Ethics and Law

----------------

Ethics are moral guidelines which govern good behavior. Today, many people believe that business is in some

way unethical or amoral. Various scandals all around the world concerning undesirable business activities,

such as the despoiling of rivers with industrial pollutants, the exploitation of sweatshop workers, the payment

of bribes (லஞ்சம்) to government officials, and the deception (மோசடி) of unwary consumers have highlighted the

unethical way in which some ﬁrms have gone about their business.

unwary consumers-கவனக்குறைவான வாடிக்கையாளர்கள்

trustworthiness-நம்பகத்தன்மை

However, just because such malpractices take place, does not mean that there are not some kinds of values or principles driving such decisions. After all, even what we might think of as ‘bad’ ethics are still ethics of a sort. And clearly, it makes sense to try and understand why those decisions get made in the ﬁrst place, and indeed to try and discover whether more acceptable business decisions and approaches can be developed.

Many everyday business activities require the maintenance of basic ethical standards, such as honesty,

trustworthiness, and co-operation. Business activity would be impossible if corporate directors always

lied (பொய் சொன்னார்); if buyers and sellers never trusted each other; or if employees refused to ever

help each other.

Info.!!!!!!! :

Business ethics is the study of business situations, activities, and decisions where issues

of right and wrong are addressed.

It is worth stressing that by ‘right’ and ‘wrong’ we mean morally right and wrong as opposed

to, for example, commercially, strategically, or ﬁnancially right or wrong. Moreover, by ‘business’

ethics, we do not mean only commercial businesses, but also government organizations, pressure

groups, not-for-proﬁt businesses, charities, and other organizations.

So behaving ethically is doing what is morally right. But the law is also about issues of right

and wrong, correct? This is true, and there is an overlap between ethics and the law. Nevertheless,

the two concepts are not equivalent and behaving ethically is not quite the same thing as behaving

lawfully:

* Ethics are about what is morally right and what is morally wrong.

* Law is about what is lawful and what is unlawful.

Win.!!!!!!! :

Many moral issues are not explicitly covered by the law. For example, in many countries, there is no law

preventing businesses from testing their products on animals, selling weapons to oppressive regimes(ஆட்சிகள்),

or preventing their employees from joining a union – decisions which many people would define as unethical.

Similarly, there are issues that are covered by the law, but are not really about ethics. For example,

the law whether you should drive on the right or the left side of the road is not an ethical decision.

posed are ambiguous - தெளிவற்றவை,

persuasive -தூண்டுதல்

controversial- சர்ச்சைக்குரிய, objectively - புறநிலை ரீதியாக

The problem of trying to make decisions in the areas of business ethics, or where values may be in conﬂict,

means that many of the questions posed are ambiguous. There simply may not be a deﬁnitive ‘right’ answer to

many business ethics problems. And as is the case with issues such as the animal testing of products, executive

pay, persuasive sales techniques, or child labor, business ethics problems also tend to be very controversial.

So business ethics is not about learning speciﬁc procedures and facts in order to make objectively correct

decisions – but it should help you to make better decisions.

sole-ஒரே

business ought to adhere -வணிகம் கடைபிடிக்க வேண்டும்

ought-கட்டாயம், Proponents-ஆதரவாளர்கள்

stakeholders—பங்குதாரர்கள், Stake

few broad categories-சில பரந்த பிரிவுகள்

regardless-பொருட்படுத்தாமல், regards -அன்புடன்

large carbon footprint-பெரிய கார்பன் தடம்

Philanthropy-பரோபகாரம்

* Social Responsibility

-----------------------

Some managers believe that business’s sole duty is to make proﬁts. In their view, it is up to the

government to determine what the laws should be. A proﬁtable business beneﬁts society by creating jobs,

increasing the standard of living of its owners and its employees. Corporations pay the taxes that support

government’s social action.

Today, more and more experts tend to discourage this view. Business ethics rests on the assumption that businesses

ought to adhere to a socially responsible approach to decision making called the social responsibility approach.

Proponents of this approach believe that corporations have societal obligations that go beyond maximizing proﬁts.

Corporate Social Responsibility (CSR) deals with actions that affect a variety of parties in a company’s environment.

A socially responsible company shows concern for all its stakeholders—anyone who, like owners, employees, customers,

and the communities in which it does business, has a “stake” or interest in it.

Info.!!!!!!! :

Corporate Social Responsibility (CSR) is a self-regulating business model that helps a company be socially

accountable — to itself, its stakeholders, and the public.

Recognizing how important social responsibility is to their customers, many companies now focus on and practice

a few broad categories of CSR:

* Environmental efforts: One primary focus of corporate social responsibility is the environment. Businesses

regardless of size have a large carbon footprint. Any steps they can take to reduce those footprints are considered

both good for the company and society.

* Philanthropy: Businesses can also practice social responsibility by donating money, products or services to social

causes. Larger companies tend to have a lot of resources that can benefit charities and local community programs.

Ethical labor practices-நெறிமுறை தொழிலாளர் நடைமுறைகள்

good deeds-நல்ல செயல்களுக்காக

* Ethical labor practices: By treating employees fairly and ethically, companies can also demonstrate their corporate

social responsibility.

* Volunteering: Attending volunteer events says a lot about a company’s sincerity. By doing

good deeds without expecting anything in return, companies can express their concern for specific issues

and support for certain organizations.

accomplish-சாதிக்க

radical re-thinking-தீவிர மறு சிந்தனை

synonymous-ஒத்த

Win.!!!!!!! :

To accomplish various CSR goals, the founders of the American ice cream manufacturer Ben & Jerry’s, Ben Cohen and

Jerry Greenfield, created the “Ben & Jerry’s Foundation.” The company has set the bar high by giving 7.5% of its

pretax profits to charitable organizations around the world. Ben and Jerry’s strives “to show a deep respect for

human beings” whether they work for the company or not. The foundation awards more than $1.8 million per year to

fund community action, social change, and other sustainability initiatives.

Sustainability-நிலைத்தன்மை

* Sustainability

----------------

Faced with growing global problems like environmental pollution, climate change, or waste disposal,

it has been widely suggested that the goals and consequences of business today require radical re-thinking.

One concept, in particular, appears to have been widely promoted as the new frame for assessing not only business

activities, but industrial and social development more generally. That concept is sustainability.

For a long time, sustainability as a concept was largely synonymous with environmental sustainability. Today, the

concept of sustainability has been broadened to include not only environmental considerations, but also economic

and social considerations.

Social considerations-சமூக பரிசீலனைகள், broadens-விரிவுபடுத்துகிறது

Info.!!!!!!! :

Sustainability refers to the long-term maintenance of systems according to environmental, economic and social

considerations.

All businesses must make money. But some companies realize that they can do more. The triple bottom line (TBL)

is a concept which broadens a business’ focus on the financial bottom line to include social and environmental

considerations. The concept was introduced in 1994 by John Elkington and the three bottom lines are often referred

to as the three P’s:

~~~~~

( )

( People o<-< )

( )

~~~~~ ~~~~~

( ) X ( )

( ) ( )

( )( )

( Planet )( $ Profit )

( ) ( )

~~~~~ ~~~~

Note for the Intersection refer to the exact image from the local folder of IBMI.

* People:

---------

Companies that follow the triple bottom line way of doing business think about the

impact their actions have on all the people involved with them. This can include everybody

from farmers supplying raw materials, on up to the CEO of the company. Everyone’s well-being

is taken into consideration. The company offers health care, good working hours, a healthy,

safe place to work, and opportunities for education.

* Planet:

---------

Triple bottom line companies take pains to reduce or eliminate their ecological (சுற்றுச்சூழல்-)footprint. They

strive(பாடுபடுங்கள்) for sustainability, recognizing the fact that “going green” may be more profitable

in the long run. But it’s not just about the money. Triple bottom line companies look at the entire

life cycle of their actions and try to determine the true cost of what they’re doing in regards

to the environment.

Concrete goals-உறுதியான இலக்குகள்

* Profit:

---------

The financial bottom line is the one that all companies share, whether they’re using the triple bottom

line or not. When looking at profit from a triple bottom line standpoint, the idea is that profits will

help empower and sustain the community as a whole, and not just flow to the CEO and shareholders.

Win.!!!!!!! :

In 2016 the Swedish furniture giant IKEA reported sales of $37.6 billion. The same year, the company turned a profit by recycling waste into some of its best-selling products.

Before, this waste had cost the company more than $1 million per year. Sustainable organizations recognize that

Profit isn’t opposed to people or planet. According to J. Yarrow, IKEA’s head of sustainability for the UK, “We don’t do this

because we’re tree huggers, we do this because it’s very cost-effective.”

Though the triple bottom line has been around for decades, events such as the 2008 financial

crisis, the BP oil spill, and climate change cast an almost constant spotlight on corporate ethics

and corporate social responsibility.

For companies, changing operations to minimize risk and fight climate change, requires a lot of time and

money. But an upfront investment in corporate sustainability can pay off. Various studies prove that

companies that treated sustainability seriously – by making a business case for it and setting concrete

goals – were the ones that profited from sustainable activities.

-------

* 10. Time Management :

-----------------------

Time management is the process of planning and exercising control over the amount of time

spent on specific activities – especially to increase effectiveness or efficiency. Traditionally,

time management referred to just work activities, but today the term often includes personal

activities as well.

A good time management system is a designed combination of processes, tools, techniques, and

methods. Finding a time management strategy that works best for you depends on your personality,

ability to self-motivate and level of self-discipline. By incorporating some of the ten steps below,

you can more effectively manage your time:

1. Know How You Spend Your Time

-------------------------------

Figure out how much time you usually spend on your activities and evaluate the results. Determine which

tasks require the most time; determine the time of day when you are most productive; and analyze where

most of your time is devoted.

2. Set Priorities

-----------------

One of the easiest ways to prioritize is to make a “to-do” list. Put the most important tasks at the top

and tackle them first. Just be careful not to allow the list-making to get out of control and do not keep

multiple lists at the same time.

3. Use a Planning Tool

----------------------

Use a personal planning tool to improve your productivity – and keep it with you. Examples

of personal planning tools include electronic planners, pocket diaries, calendars, computer

programs, notebooks, and your smartphone.

4. Get Organized

----------------

Disorganization results in poor time management. Implement a system that allows you to handle

information effectively. This is not only true for your desk and office bookcase, but also for

your computer files and your emails.

5. Schedule Your Time Appropriately

-----------------------------------

Plan your most challenging tasks for when you have the most energy and block out time

for your high priority activities. However, try to limit scheduled time to 70% of your day,

leaving some time for creative activities such as planning, thinking, and reading.

பிரதிநிதி -Delegate

6. Delegate: Get Help from Others

---------------------------------

Identify tasks that others can do and then select the appropriate person to do them. Be specific in defining

the work, but allow the person some freedom to personalize the task. Finally, don’t forget to reward the

person for a job well done.

overwhelming -மூழ்கடிக்கிற

7. Stop Procrastinating

------------------------

Some tasks seem overwhelming, some seem unpleasant. Try breaking down the tasks into smaller segments that

require less time commitment and result in realistic deadlines. If you’re having trouble getting started,

ask some colleagues for help.

imposed-திணிக்கப்பட்ட

8. Manage Time Wasters

----------------------

Decrease or eliminate time spent on activities imposed by other people (e.g., don’t schedule meetings

unless they are necessary and ask employees to make appointments during periods when you have a lot of

work to do).

9. Avoid Multi-tasking

----------------------

Multi-tasking does not actually save time. In fact, the opposite is often true: You lose time when

switching from one task to another, resulting in a loss of productivity. Stay focused on your current

problem instead of trying to deal with ten problems at once.

rejuvenate-புத்துயிர் பெறுங்கள்

10. Get time for yourself

-------------------------

The care and attention you give yourself is an important investment of time. Scheduling time to

relax can help you rejuvenate both physically and mentally.

greater accomplishments -அதிக சாதனைகள், accomplis-நிறைவேற்றப்பட்டது

Info.!!!!!!! :

Regardless of the time management strategies you use, you should take time to evaluate

how they have worked for you. Try to find a healthy balance between work and home life.

Focus on the tasks that are most important in your life. Invest enough time in your own

personal well-being. Always remember that successful time management today can result in

greater personal happiness, greater accomplishments at home and at work, increased productivity,

and a more satisfying future.

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sustainability-நிலைத்தன்மை

* 11. Case Studies & Conclusion :

---------------------------------

To complete this course and highlight its core concepts, we will take a closer look at the

leadership approaches of Steve Jobs at Apple and Bill Gates at Microsoft. After that, we will

discuss how the University of Oxford promotes sustainability. Finally, we will summarize the key

takeaways of the course.

Lesson Content

Case Study: Microsoft & Apple

Case Study: University of Oxford

Summary

* Case Study: Microsoft & Apple

-------------------------------

Apple and Microsoft are two of the biggest companies in the world with each firm taking

a different business approach from an organizational and philosophical perspective. The

spectacular rise of both technology companies is directly linked with the history of their

founders.

In 1955, two of America’s most brilliant minds, Bill Gates (left) and Steve Jobs (right),

were born and grew up in different environments which reflected on their leadership skills.

However, both became successful business owners and they had a major thing in common: a

passion for innovation in the world of computing technology.

Two Geniuses with Visions

Steve Jobs was a successful entrepreneur who co-founded Apple. His beginnings were

humble pushing him to be self-made. In 1976, Steve Jobs and his friend Steve Wozniak

launched their individual company in the garage of Jobs’s home. They named it Apple

Computer Company, in memory of happy summers which Jobs had spent picking apples.

Jobs resigned at Apple in 1985 but returned in 1997 and served as the company’s CEO

until 2011.

Bill Gates was the chairman and CEO of Microsoft. He co-founded the company with his

childhood friend Paul Allen in 1975. In 1980, Gates had his greatest opportunity, when

IBM approached him to develop an operating system for its personal computer. In the

early 1990s, Microsoft had sold more than 100 million copies of MS-DOS. Gates became

the chief architect of Microsoft Windows and in 2014 he stepped down the chair to focus

on his charity work.

Different Personalities

-----------------------

Bill Gates was driven by numbers, equations, and even economics. He was a software developer

who always tried to develop new software using new technologies. Slowly, he pushed himself into

the management role. Microsoft’s philosophy under the leadership of Gates was “A computer on

every desk in every house, running Microsoft software”. Bill Gates was never as creative as

Steve Jobs. Instead, he utilized the ideas and advice of his team to produce some of the biggest

technology game-changers in the market.

Steve Jobs, on the other hand, was driven by studying people and finding out what makes their

lives easier. His approach was futuristic; he thought about the future when he worked on his

innovations. Apple’s philosophy under the leadership of Jobs was “Make computer accessible to

everyone and make it very easy to use”. Jobs had a creative design mindset: He wanted to develop

his products how he saw best fit.

democratic leadership style- ஜனநாயக தலைமை பாணி

fluctuations-ஏற்ற இறக்கங்கள்

Different Leadership Styles

---------------------------

Bill Gates used a democratic leadership style. He believed in the value of input from

his employees for overall company success. He understood that in business you will have

fluctuations and changes that you must adapt to in order to succeed. Through the process

of delegation of tasks, Gates was able to develop a company that utilizes the skills of

his team members to the fullest.

autocratic leadership style -எதேச்சதிகார தலைமை பாணி

accompanied-உடன், inspirit-உணர்ச்சியூட்டு

Steve Jobs used an autocratic leadership style. He used to be the main person in charge

of decision making and typically decided based on his ideas without collecting any inputs

from his team members. Jobs understood the importance of taking risks and could be

considered one of the biggest risk-taking leaders in the world. His rudeness was accompanied

by an ability to inspirit Apple employees with a passion to create groundbreaking products

and a belief that they could accomplish what seemed impossible.

ditch-பள்ளம்,

பின்பற்றவும்-emulate, loyalty-விசுவாசம்

Different Organizational Structures

-----------------------------------

The original organizational structure of Microsoft under the leadership of Bill Gates was

functional. Through the process of delegation of tasks, Gates was able to develop a company

that utilizes the skills of his team members. Bill Gates also created a management system

known as “stack ranking” to control and motivate Microsoft employees. This program classified

employees as top performers, good performers, average, and poor. It turned out to be a destructive

process and Microsoft decided to ditch the stack ranking system in 2012.

The organizational structure of Apple under the leadership of Steve Jobs was highly centralized.

Jobs was in charge of all final tasks, supervisions and decision makings. This had definite

impacts on the corporate culture of the company with specific levels of responsibility for

employees. His top employees were more loyal to him than those at most other companies.

CEOs who study Jobs and decide to emulate his roughness without understanding his ability

to generate loyalty make a dangerous mistake.

Conclusion

----------

Microsoft and Apple both created some of the most successful products and services in the

world. Apple’s business model was always based on innovation and consumer-centric devices.

Microsoft built its success on the licensing of software such as Windows and Office. However,

the management approaches of Steve Jobs and Bill Gates were quite different. In the end,

both were able to convert high-quality ideas into successful products.

Case Study: University of Oxford

---------------------------------

The University of Oxford is a famous research university in Oxford, England. The history

and influence of the University of Oxford have made it one of the most prestigious universities

in the world. As of 2019, Oxford has educated many notable alumni, including 28 prime ministers

of the United Kingdom and 72 Nobel Prize winners.

With more than 23,000 students, 14,000 employees, and 230 buildings, the University

of Oxford is a large organization. Through its activities and actions, the university

recognizes its impact on the environment, locally, nationally and globally.

******* Pic1 : Environmental Sustainability at OXFORD,Pic2 : University of OXFORD.

The university currently works to enhance its positive impact and reduce its negative

impacts. It made a commitment within the Oxford University Strategic Plan to continue

to deliver its sustainable targets. These targets will be met through continual

improvement and evaluation.

The Sustainability Steering Group (SSG) of the university is responsible for the development

of sustainability strategy and monitoring its delivery, while the day-to-day implementation

of the sustainability initiative is managed by the Environmental Sustainability team.

During the last years, the university has identified seven key areas through which environmental

sustainability shall be approached. These are:

* Energy and Carbon Management – by encouraging energy-efficient practices and investing in its estate

to reduce carbon emissions. For example, it was able to decrease carbon intensity (carbon emissions/m²)

from 2005 to 2015 by 33%. In the year 2016, the university also installed its 1000th solar photovoltaic

panel to generate renewable energy.

* Water Management – by reducing water consumption through water-efficient practices and technologies.

However, reducing consumption significantly remains extremely challenging for a large research organization.

Rainwater harvesting captures rain and uses it for operations such as flushing toilets.

* Material Resources – by encouraging preventing waste. As well as recycling and recovering

waste, the university is also working to reduce waste production through reuse. The university

developed a reuse platform through which University resources can be shared.

reducing emissions-உமிழ்வைக் குறைத்தல்

* Sustainable Travel – by reducing emissions from work-related travel and university-owned vehicles.

The university seeks to reduce the number of car journeys and to improve the range of travel options.

For example, the university decided to increase the cycle-share program Oxonbike and to upgrade its

vehicle fleet.

* Sustainable Buildings – by making full use of available space and designing and refurbishing buildings

in line with the university’s Sustainable Building Philosophy.

* Biodiversity – by enhancing wherever possible wildlife habitat on university-owned land and supporting

wider initiatives as appropriate.

* Community – by increasing awareness and understanding of environmental sustainability by

staff and students and serving society by contributing and promoting the university’s

research and knowledge transfer on sustainability.

The university sets clear objectives and targets reviewed annually and supported by long-term

strategies and plans. Every year, it publishes a detailed report about its current performance

on these fields – including measurements of positive progress (targets achieved) as well as

negative progress (targets missed).

The university received numerous awards and prizes for its sustainable initiatives by the Environmental

Association for Universities and Colleges (EAUC) and the International Sustainability Campus Network

since 2010.

Additionally to its internal sustainability program, the university cooperates with city authorities

and other stakeholders in a network “to work towards Oxford City becoming a carbon-neutral city and

a center of excellence for climate change adaptation and mitigation initiatives”.

* Summary :

-----------

To be a great manager, you must have an extensive set of skills – from leadership

skills to time management.

Management skills can be defined as certain attributes or abilities that an executive

should possess in order to fulfill specific tasks in an organization. They include the

capacity to perform executive duties in an organization while avoiding crisis situations

and promptly solving problems when they occur. Management skills can be developed through

learning and practical experience as a manager.

While different roles and organizations require the use of various skillsets, essential

management skills help a professional stand out and excel no matter what their level. In top

management, these skills are essential to run an organization well and achieve desired

business objectives.

fosters-வளர்ப்பவர்கள், propel-ஓட்டு, hurdles-தடைகள்

A manager who fosters good management skills is able to propel the company’s mission and

vision or business goals forward with fewer hurdles and objections from internal and

external sources. Good management skills are vital for any organization to succeed and

achieve their goals and objectives.

We hope that this course gave you a good understanding and a complete overview of the

most important management skills and that this will help you to succeed in today’s

business world and become a better manager.

/~~~~ Thank you for taking this course and good luck with the quiz!

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Essential Management Skills – Exam

----------------------------------

Welcome to the course quiz!

Now it’s time to test your knowledge and get your course certificate. You will be able to

download your certificate after reaching a minimum score of 70%. You can retake this quiz

as often as you like if you do not reach this score.

Question 1 of 13

What are the four primary functions of managers?

Answer : Planning, Organizing, Leading, and Controlling.

POLC

Changing, Ordering, Regulating, and Improving.

Improvising, Maintaining, Upgrading, and Reforming.

Analyzing, Preparing, Negotiating, and Scheduling.

Question 2 of 13

Which of the following factors are emotional intelligence skills?

Self-awareness

Self-regulation

Empathy (பச்சாத்தாபம்)

Answer : All three answers

The EI skills are: ( SA,SR, M,E,SS )

Question 3 of 13

Which statement is true for the Autocratic Leadership style?

This style of leadership is centered on employee participation and involves decision making by consensus.

One of the down-sides of this leadership style is that it may lead to endless meetings.

Answer : The autocratic style of leadership limits employee freedom of expression and participation in the decision-making process.

This style of leadership makes employees responsible for most of the decisions that are made.

Question 4 of 13

Which statement is not true for Transformational Leadership?

Transformational leaders look beyond themselves in order to work for the greater good of everyone.

Transformational leaders will bring others into the decision-making process.

Answer : Transformational leadership is characterized by centralized control over employees.

Transformational leaders seek out different perspectives when trying to solve a problem.

Question 5 of 13

What does “MBO” stand for?

Management By Observing.

Management By Organizing.

Answer : Management By Objectives.

Management By Openness.

Question 6 of 13

Which ist the first stage of the team development process?

Storming.2

Performing.4

Answer : Forming.1

Norming.3

* Stages of Team Development FSNP

Question 7 of 13

Which statement is true for the “Status Quo Trap” during decision making?

We tend to give disproportionate weight to the first information we receive on a particular issue.

Answer : The decision making is biased towards the current situation, because it is the "safe" and comfortable option.

This trap relates to making choices in a way that justifies past, flawed choices.

Even though most of us are not very good at making proper forecasts, we actually tend to be overconfident about our accuracy.

Question 8 of 13

Which statement is true for projects?

Projects are unique in nature.

Projects have a defined timescale.

Projects have limited resources.

Answer : All three mentioned statements are true.

* Projects differ from standard business operational activities:

Question 9 of 13

What is the correct order for the project management process?

Planning – Execution – Closure – Initiation.

Planning – Initiation – Execution – Closure.

Initiation – Execution – Planning – Closure.

Answer : Initiation – Planning – Execution – Closure.

Project Definition

Phase 1: Initiation

Phase 2: Planning

Phase 3: Execution

Phase 4: Closure

(IPEC)

Question 10 of 13

What is the third step in Lewin’s Three Phases Change Model?

Unfreezing.

Changing.

Answer : Refreezing.

Anchoring.

(UCR)

Therefore, his model is known as Unfreeze-Change-Refreeze model.

Question 11 of 13

What is not a good advice to understand and overcome resistance against change management?

Ask the resisters to explain why they are resistant.

Demonstrate the benefits in adapting the change.

Answer : Remove resistant employees immediately from the organization.

Discuss the change in broad-based meetings to put everyone on the same page.

Note:

This may require individual attention. Following are some tips