Management Concepts and Pointers

The Practice of Management – Peter Drucker 1950

  • Management by Objectives (MBO)
  • Objectives should be SMART (specific, measurable, acceptable, realistic, time-bound)
  • The model aims to improve organizational performance by clearly defining objectives that are agreed to by both management and employees
    1. determine or revise organizational objectives
    2. translate the organizational objectives to employees
    3. stimulating the participation of employees in setting individual objectives
    4. monitoring the progress of employees
    5. evaluate and reward employee progress
    – Drucker believed MBO was not a cure-all but a tool to be utilized
    – The Success of MBO is dependent on the support from top management, clearly outlined objectives, and trained managers who can implement it
  • Refer MBO

OKR: Objectives and Key Results

High Output Management – Andrew S Grove 1970

  • Andy Grove, implemented “Operation Crush”
  • John Doerr implemented OKR in Google
  • Two questions in OKR makes the framework are
    1. Where do I want to go?
    2. How will I pace myself to get there?
  • You start by defining 3-5 key objectives on company, team or personal levels. Objectives should be ambitious, qualitative, time bound and actionable by the person or team
  • Under each Objective, define 3-5 measurable results. Key results should be quantifiable, achievable, lead to objective grading and be difficult, but not impossible. OKR results can be based on growth, performance, or engagement. Often they are numerical, but they can also show if something is done or undone, so a binary 0 or 1
  • Set quarterly goals – Objectives
  • Measure metrics progress – Key Results
  • Share it with leaders & co-workers
  • One direction everyone works towards
  • Aligned & linked hierarchy Company > Department > Team > Personal
  • Transparency and open clearly communicated teamwork
  • Refer OKR OKR Example

KRA: Key Result Area

Strategy in the 21st Century – Randall Rollinson and Dr. Earl Young 2010

  • It is a tool to help align each employee’s day-to-day responsibilities with the higher-level strategy of the organization
  • Key result area (KRA), alludes to the sector of the outcome within the business organization, for which the department or unit is responsible
  • It is a strategic factor
  • Qualitative
  • Outlines the scope of the job or product
  • Refer Comparision

KPI: Key Performance Area

  • Key performance indicator (KPI) means a mechanism used to represent how well the company is able to reach the business goals
  • It is a metric
  • Quantitative
  • Evaluates the success towards goals at various levels

The 7 Habits of Highly Effective People

Habit #1:  Be Proactive
Habit #2:  Begin with the End in Mind
Habit #3:  Put First Things First
Habit #4:  Think Win-Win
Habit #5:  Seek First to Understand, Then to Be Understood
Habit #6:  Synergize
Habit #7:  Sharpen the Saw

How to Motivate Team Members

  • Find out what they need
  • Be respectful
  • Stop micromanaging
  • Lead by example
  • Be personable
  • Stress your company’s purpose
  • Follow through on promises
  • Be decisive
  • Show emotion
  • Help employees reach their potential
  • Admit when you don’t have the answer
  • Don’t lead with fear
  • Develop future leaders from within
  • Encourage personal growth
  • Help people learn from their mistakes
  • Hold your team accountable
  • Be curious
  • Always be learning
  • Be flexible
  • Understand your purpose
  • Get your employees involved
  • Get to know your team
  • Be transparent
  • Hold brainstorming sessions
  • Be accessible
  • Share the Organizational Vision With Each Member
  • Communicate With Your Staff
  • Make People Feel Appreciated
  • Support new Ideas
  • Give challenging tasks
  • Encourage creativity
  • Give each one opportunity to grow

How to Motivate High Performing Employees?

  • Tactic #1: Engage them
  • Tactic #2: Help them improve
  • Tactic #3: Give them independence
  • Tactic #4: Inspire them
  • Tactic #5: Involve them
  • Refer

How to appreciate team members

  • Thank them verbally
  • Thank them in writing
  • Give them small rewards
  • Give them an opportunity
  • Ask them what they want
  • Send out a group email
  • Assign them to a high-profile project
  • Make praise specific
  • Check in with them

How to handle conflicts

9 Box Grid

How to Build a Successful Team

Good to Great & Built to Last – Jimm Collins

  • Make a Plan
  • If you have more than three priorities, you don’t have any – Jimm Collins
  • Hiring Well Isn’t Enough
  • Create a Clear Map
  • “Where are we going and how are we going to get there?” 
  • Have a Shared Scoreboard
  • “Metrics are actually the way that you can harmonize a large number of people, whether it’s dozens or even thousands,” said Adam Nash, the former chief executive of Wealthfront
  • “If you have a company where everyone has their own ways of keeping score, you’ll get incessant fighting and arguments, and they’re not even arguing about what to do,” 
  • You May Feel Like a Broken Record…
  • Refer
  • Performance indicators show that effective teams will almost always outperform people working individually, particularly in high-pressure situations or when multiple skillsets are needed.

Analytical Skills

  • Analytical skills refer to the ability to collect and analyze information, problem-solve, and make decisions. 
  • Communication
  • Creativity
  • Critical Thinking
  • Data Analysis
  • Research
  • Problem-solving Skills
  • Project Management Skills
  • Goals and Objectives
  • People Skills
  • Refer
  • Work harder on yourself than on your job with the great analytical skills
  • Not either-or, but both
  • Lead without the title with the help of great analytical skills in business
  • We, not me
  • People, Strategy and Execution with great analytical skills
  • The Apple CEO was asked about his three main focus of the company and he replied – “People, strategy, and execution”.
  • Taking responsibility for whatever happens to your unit
  • Making Tough Decisions
  • Build Trust
  • Refer

The Eisenhower Decision Matrix

Leadership 2.0

  • breaks it down into two skillsets that all leaders need: Core competencies and adaptive competencies.
  • Become an Adaptive Leader – “You should approach your practice of new leadership skills with the mindset of an athlete. Any day you walk into the office could be the most challenging day you’ve faced.”
  • Adapt Your Leadership Style to the Situation – “The best leaders are adept at tailoring their leadership styles to the unique needs of their employees. Unfortunately, this is not the norm.”
  • Improve Your Self-Awareness – “When you are self aware, you are far more likely to pursue the right opportunities, put your strengths to work, and – perhaps most importantly – keep your emotions from holding you back.”

Individual Development Plan

The Code

  • We are always moving forward.
  • We believe in open.
  • We are empathetic.
  • We believe in We.

Skill Will Matrix

GROW Model

Goal – What is your goal and why?
Reality – What is the current reality?
Options – What are your options?
Way Forward – What will you do?

Coaching Framework

  • Set Context
  • Use GROW Model
  • Follow Up

Characteristics of Feedback

Feedback – SBI Model

  • Situation – Time, Place, Circumstance
  • Behaviour – What the person actually said or did
  • Impact – How I was affected or saw if affects others and impact on the future actions

Feedback – EEC Model

  • Example
  • Effect
  • Change

Feedback Framework

  • Shared Intent
  • Use SBI Model
  • Runaway
  • Follow up

Guidance Model

  • Level 1 – Unable to perform any aspect of the tasks
  • Level 2 – Able to perform some aspects of the tasks
  • Level 3 – Perform the tasks with occasional questioning
  • Level 4 – Performa the tasks with rare questioning

Development Framework

  • Asesss
  • Use Guidance Model
  • Follow Up

The Five Dysfunctions of a Team – Patrick Lesyoni

  • Absence of Trust
  • Fear of Conflict
  • Lack of Commitment
  • Avoidance of Accountability
  • Inattention to Results

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