Kaptai Engineering Academy- Lecture Synopsis

8/12/2019 Kaptai Engineering Academy- Lecture Synopsis

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Strategic Management

What is Strategy?

The companys long-term plan for how it will match itsinternal strengths and weaknesses with external

opportunities and threats in order maintain a competitive

advantage.

!omprehensive plan for accomplishing an

organi"ations goals.

Strategy is a game plan of any company to compete in the

market.

What is Strategic Management? Strategic management is the set of managerial decisions

and actions that determines the long-run performance of

an organi"ation.

Strategic management is the process of identifying and

executing the organi"ations mission #y matching its

capa#ilities with the demands of its environment. comprehensive and ongoing management process

aimed at formulating and implementing effective

strategies$ a way of approaching #usiness opportunities

and challenges.

Why is Strategic Management %mportant?

&ne of the most significant reasons is that it can make adifference in how well an organi"ation performs.

nother reason strategic management is important has to

do with the fact that organi"ations of all types and si"es

face continually changing situations.


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Strategic management is also important #ecause of the

nature of organi"ations. They are composed of diverse

divisions' departments' functions' and work activities (

manufacturing' marketing' accounting' and so forth (

that all need to #e coordinated and focused on achievingthe organi"ations goal. .

)inally' strategic management is important #ecause its

involved inmany of the decisions that managers make.

Today' strategic management has moved #eyond for-profit

#usiness organi"ations to include governmental agencies'

hospitals' and other non-profit organi"ations' we know

its important for these organi"ations as well.

The Strategic Management *rocessStep +, %dentifying the &rgani"ations !urrent Mission'

ectives and Strategies

Step , /xternal nalysis

Step 0, %nternal nalysis

* SWOT Analysis

S- Strengths W- Weaknesses

O- Opportunities

T- Threats

Step 1, )ormulating Strategies

Step 2, %mplementing Strategies

Step 3, /valuating 4esults

Types of &rgani"ational Strategies !orporate-5evel strategies

a. Single-*roduct Strategy

#. 4elated 6iversification

c. 7nrelated 6iversification


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6irections of !orporate Strategies,

a. 8rowth

-Vertical Integration

-Horizontal Integration

-Diversification#. Sta#ility

c. 4enewal

- etrench!ent Strategy

- Turnaroun" Strategy

9 !orporate *ortfolio nalysis !ategories off :usiness under :!8 Matrix,a. Stars#. !ash !ows

c. ;uestions marks

d. 6ogs

:usiness


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nother thing *orter did identify three generic competitive

strategies mangers can use. Which one they select depends on

the organi"ations strengths and core competencies and its

competitors weakness.

a. !ost 5eadership Strategy#. 6ifferentiation Strategy

c. The )ocus Strategy

)unctional Strategy

Marketing Strategy

&perations Strategy

)inancial Strategy

>uman 4esource Strategy

Strategic Management in Todays /nvironment Strategic )lexi#ility

ew 6irections in &rgani"ational Strategies

What strategies are important for todays environment?a. /-:usiness Strategies

#. !ustomer Strategies

c. %nnovation Strategies

Strategic lternatives for %nternational :usinessa. >ome 4eplication Strategy

#. Multidomestic Strategy

c. 8lo#al Strategy

d. Transnational Strategy


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Time Management

Time is the most important and precious resource availa#le tothe man to #e utili"ed instantly. %f it is passed it is gone. %t does

not wait for any #ody whosoever is the person. %t must'

therefore' #e utili"ed properly without wasting it. The

maximum utili"ation of the time in a day should #e adored

principle. &ne who kills time' kills his and his companys

progress. Time is the resource e@ually availa#le to each one of

us. There is no une@ual distri#ution of time still people cry

a#out short of time and non-availa#ility of time. Mangers'employees and workers should understand the importance of

time. /veryone should #e time conscious. *eople say time is

money. Aes' it is. %f time is lost the income to #e generated

during that time span is lost.

There is no dearth of people who waste time. They waste time

and then complain a#out its shortage. %f time is wasted work

will suffer. Aou would not get time for work. Work goes on

increasing with the waste of time. %f each second at managersor employees disposal is utili"ed work gets completed on time

should #e taught to the executives' employees and workersB %t

is freely availa#le resource and e@ually distri#uted to one and

all. %f it is wasted then it #ecomes costly. %ts wastage adds to

cost. Time is a resource' which cannot #e #orrowed.

We have twenty-four hours a day. fter reducing the hours of

rest' and other household compulsions a person is left withhardly +C to C hours. These are the working hours left with a

corporate man to execute his work to the maximum. Wasting

this precious time is crime. To save it from waste its effective

management is very essential.


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%mportance of Time

Time #eing the most important resource' its value must #e

understood #y one and all. %ts more important than

money and other material resources.

Time is divided in to past' present and future. The present is

the most important of them all.

%n corporate life' time is the single common element of all

planning. *lans are formulated with respect to time as short

range' intermediate range and long range plans. Time

constraints make the things effective and accordingly future

actions are framed to make the things happen.

Time is like ready cash$ hence it must #e used immediatelywith effective management.

/xecutives who utili"e time properly are time conscious' are

always on time.

The success and failure of executives depend on proper use of

time.

Time *lays an important role in the life of an individual and a

#ody corporate hence the management is essential for

efficiency' economy' accuracy and prosperity

eed for Management of Time Time is the most important resource that cannot #e

stored. >ence its instant utili"ation is a must.

The executive who is adept in the skillful management of

time can make proper and maximum utili"ation of

material and human resources at his disposal for

accomplishing the corporate o#ectives. The need of effective time management is #adly felt in the

modern times. %f you fail to do today' tomorrow may #e

too late.

To remain in the glo#al competition and survive in the

#usiness today' one must manage his time efficiently.


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The time has now changed everything and time itself has

made the reali"ation of its need and importance to the

stalwarts of the companies to manage time properly to

save themselves from the disastrous failure.

*roper time management keeps the executives and

employees ahead of others and worry free and healthy.

The need for time management for the corporations

arises #ecause of fast changing world. /verything is

moving very fast. Taking decisions and on time is must.

The pace of technology is very great. What is new today

may #e outdated tomorrow. Modern technologies must #e

used as and when it is availa#le. This is all possi#le if time

is perfectly watched.

The glo#ali"ation and trade li#erali"ation has increased

the need for time management.

Ways to /nsure the *roper 7tili"ation of Time

The effective time management depends upon skillful and

proper utili"ation of time. This utili"ation should #e rational to

the maximum. The maximum work should #e completed

within minimum time.

To achieve effective management of time' following are the

ways for proper utili"ation of time,

The *lanning of Work

ssigning *riorities to the Work to #e 6one

6elegation of uthority

Target Setting

Simplify *rocedures

:e !omforta#le

6o not Waste Time


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!lu##ing of %dentical Work

Take ;uick 6ecisions

:e Systematic

Take Sufficient 4est 7se /very Moment at your 6isposal

7se of daily *lanner

8ive Sufficient Time to )amily

Time WastersThere are several aspects that waste time' a precious resource.

The following can #e listed as prominent time waster,

4ole m#iguity 5ack of /ffective 6elegation

%na#ility to !ommunicate

7nwanted or 7nscheduled Disitor

%na#ility to say EoF

6aily work are not properly disciplined

Travel

/ating Sipping Tea

)ormal Meeting

Telephone

)illing and 4ecord Geeping

*aper Work

5oitering

>unting

Tendency to Talk for >ours

*erfectionalism


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Training

n %ntroduction to Training

&rgani"ation run on long-term #asis also termed as Heternal

#asis adapting with changing conditions. >ence' they need

human resources should #e fit present and future. The process

of human resource management starts with planning for how

many and what kind of people will #e needed at different

points of time in the organi"ation. Therefore' once employees

have #een recruited and selected' the next step involved in the

>4M process is to transform them to meet the future

re@uirements of the organi"ation. Such transformation of

employees is done #y means of training and development.

Meaning of Training

Training refers to a planned effort #y a company tofacilitate employees learning of o# related competencies.

These competencies include knowledge' skills' or

#ehaviors that are critical for o# performance. The goal

o training is for employees to master the knowledge' skill

and #ehaviors emphasi"ed in training programs and to

apply them to their day-to-day activities.

Training is the systematic modification of #ehavior

through learning that occurs as a result of education'instruction' and development and planned experience.

Training and development means ... it is any attempt to

improve current or future employee performance #y

increasing an employees a#ility to perform through


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learning' usually #y changing the employees attitude or

increasing his or her skills and knowledge.


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Training Dersus 6evelopment Training is the act of increasing the knowledge and skills

of an employee for doing a particular o#. %t is the process

of providing employees with specific skills or helping

them correct deficiencies in their performance.

6evelopment covers not only activitiesBskills that

improves o# performance' #ut also those activities that

#ring a#out growth of the personality' help individuals

progress toward maturity and actuali"ation of their

potential. %t is an effort to provide employees with the

a#ilities the organi"ation will need in future.

Training Dersus 6evelopment

)ocus

Scope

Time )rame

8oal

ature

Target group

Training 6evelopment

!urrent Io#

%ndividual

employees

%mmediate

)ix current skill

deficit

Technical and

mechanical

operation

on-managerial oroperative personnel

!urrent and future o#

Work group and

organi"ation

5ong term

*repare for future work

demands

Theoretical and

conceptual ideas

Managerial BSupervisory personnel


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%mportance of Training in &rgani"ations

The following two !hinese prover# highlight the importance

of the employee training,

E8ive a man a fish' and you have given him meal. Teach man

to fish' and you have given him livelihood.F

E%f you wish to plan for a year sow seeds' if you wish to plan

for ten years plant trees' if you plan for life-time develop men.F

Training is the act of improving ones knowledge and skill

to improve hisBher performance. Training is o# oriented. %t

#ridges the gap #etween what the employee has and what the

o# demand. %mparting training to employees working in allorgani"ed sectors of human activity is no longer a matter of

de#ate. Several factors have contri#uted to make the

organi"ations reali"e and recogni"e the need for imparting

training to their employees.

+. :etter *erformance

. %mproved @uality

0. 5ess Supervision

1. 5ess 5earning *eriod2. >igh morale

3. *ersonal 8rowth

J. )avora#le &rgani"ational 8rowth.

reas of Training Gnowledge

Technical Skills

Social Skills Techni@ues

ttitudes

/xperience


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%dentification of Training eeds

%dentifying training needs is a process that involves

esta#lishing areas where employees lack skills' knowledge' and

a#ility in effectively performing their o#s. Trainingneeds have to #e related #oth in terms of the organi"ations

demands and that of the individual employees.

Training needs identification consists of the following,

+. &rgani"ational analysis

#i$ Analysis of o%&ectives

#ii$ esource utilization Analysis

#iii$ 'nviron!ental scanning #iv$ Organizational cli!ate analysis

. Task analysis

a. Io# 6escription

#. Io# Specification

0. *erson nalysis

*erformance ppraisal

Io# 4elated *erformance 6ata servation #y Supervisor

%nterviews with the /mployees or >is

Supervisor

Test of Things 5ike Io# Gnowledge'

Skills' and ttendance

ttitude Surveys

%ndividual employee daily diaries

ssessment !enter 4esults

9 !ant 6o B Wont 6o *ro#lem and Training


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Setting Training ectivesa. 4eaction ective

#. 5earning ective

c. :ehavior ective

d. 4esult B &utcome ective

6esigning Training Methods Training methods can #e #roadly categori"ed as follows, &n-the-o# &riented Training Methods

#i$ On-the-&o% training

#ii$ (o% instruction training #iii$ )oaching +entoring

#iv$ (o% rotation

#v$ Apprenticeship Training

#vi$ Action ,earning

Simulation Methods

#i$ ole play

#ii$ )ase +etho"

#iii$ +anage!ent a!es

#iv$ In-%asket e.ercise

#v$ Vesti%ule training

Gnowledge-:ased Methods

#i$ ,ectures Discussion

#ii$ )onferenceSe!inars

#iii$ /rogra!!e" ,earning

/xperimental Methods

#i$ Sensitivity training

#ii$ Transactional analysis


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!omputer-:ased Training

a0 /rogra!!e" Instruction

%0 Intelligent Tutoring Syste!

c0 Interactive +ulti!e"ia

"0 Virtual eality

udiovisual Media Static Media

i0 1e2sprint3 )harts3 an" /osters

ii0 /ro&ecte" Te.t an" I!ages

6ynamic udiovisual Methods

i0 Au"io-Only Tapes

ii0 +oving 4il! an" Vi"eos

iii0 )o!puter-enerate" Dyna!ic /resentations

Selecting ppropriate Training Method

!learly' training is intended to increase the expertise of

trainees in a particular area. When thinking a#out what

training method or methods to use' it is useful to consider the

current level of expertise that trainees possess.


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5earning *yramid to 8uide in the Selection of ppropriate

Training Method

With Such array of training methods and media availa#le'

>46 professional should consider the following factors in

choosing appropriate method,+. The ectives of the *rogram

. Time and Money vaila#le

0. vaila#ility of &ther 4esources

1. Trainees !haracteristics and *references


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achieve the o#ectives of the same with ensuring effectiveness

and efficiency.

&ffice SystemB &ffice *rocedure


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4ole of >uman 4esource Management in

/ffective &ffice Management

>uman resource management may #e defined as programs'

policies' and practices for managing an organi"ations

workforce.

>uman 4esource management is concerned with the people

dimensions in management. Since every organi"ation is

made up of people' ac@uiring their services' developing their

skills' motivating them to higher levels of performance andensuring that continue to maintain their commitment to the

organi"ation are essential to achieving organi"ational

o#ectives. This is true' regardless of the type of

organi"ation ( government' #usiness' education' health'

recreation' or social action.

>uman resource management can #e defined as a process of

procuring' developing and maintaining competent human

resources in the organi"ation so that the goals of an

organi"ation are achieved in an effective and efficient

manner.

>4M is an art of managing people at work in such a

manner that they give their #est to the organi"ation for

achieving its set goals.

ectives of >uman 4esource Management

a. >elping the organi"ation to reach its goals

#. /mploying the skills and a#ilities of the workforce

efficiently


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c. *rovide the organi"ation with well trained and well

motivated employees

d. %ncreasing to the fullest the employees o#

satisfaction and self actuali"ation

e. 6eveloping and maintaining a @uality of work lifethat makes employment in the organi"ation desira#le

f. !ommunicating >4M policies to all employees

g. >elping to maintain ethical policies and socially

responsi#le #ehavior

h. Managing change to the mutual advantage of

individuals' groups' the enterprise' and the pu#lic.

*rinciples of >4Ma. *utting right person at the right place

#. Training the new recruits

c. Transforming the organi"ation into a coordinated entity

d. /nsuring employee security

e. Supplying proper e@uipment and promoting right

condition

f. /nsuring production and distri#ution of superior @uality

goods and servicesg. 4ewarding star performers

h. *roviding participation in decision making

6ifference #etween *ersonnel Management and >uman

4esource Management

6imensions *ersonnel

Management

>uman 4esource

Managementature of

4elation

*erception of

!onflict

*luralist

!onflict is

institutionali"ed

7nitarist or neo-

unitarist.

!onflict is

pathological


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!ontract

4ole of*rocedure

*anning

*erspective

ccepta#ility

of 7nions

5evel of Trust

Gey 4elation

Managements

4ole

:asis of Io#

6esign

Gey *eople

Skill

c@uisition

4eward

Management

/mphasis in

compliance

4ules dominated

d hoc' reactive

ccepta#le

5ow

5a#or-

Management

Transactional

6ivision of la#or

*MB%4 Specialist

Training and

6evelopment

Standardi"ed Io#

/valuation

:eyond contract-

commitment

!ulture and valuesdominated

%ntegrated

proactive

ot accepta#le

>igh

!ustomer

Transformational

Teams

5ine *eople and

8eneral Managers

&rgani"ation

*erformance

:ased


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The Mission of human relation is to promote ways in which

people in communities learn to get along and to safeguard

e@ual opportunity for all. >uman relations activities help

communities to #ecome more harmonious' respectful' and

cohesive. >uman relations uses tools of fact finding' stafftraining' information sharing' cultural literacy' hate crime

response and conflict management.

>uman 4elations School of Management Thought

!auses for *oor >uman 4elations in an office *oor Staffing practices

%rrational compensation system

%nappropriate supervisory #ehavior and gesture

*oor working conditions

%neffective promotion policy

5ack of fair treatment and ustice

:iased appraisal

%nterpersonal and intergroup conflict

*olitical divisions among employees /mployee diversity

*rofiteering motive of employer

:aseless rumors

Tips for improving >uman 4elations in an &ffice+. Trust and #e trustworthy

. *rovide feed#ack that has an impact

0. 4eceive feed#ack with grace and dignity

1. Show appreciation

2. :uild alliance

3. *lay well with other, 6evelop effective work relationship

J. &vercome your fear of confrontation and conflict


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K. Manage difficult conversation

L. !onsciously create team norms

+C . 03C 6egree performance evaluation

++ . void all forms of discrimination

+ . %ntroducing /ffective >4 *ractices+0 . /ncouraging two way communication

Some &rgani"ational ctions for Sustaining >uman

4elations

a. )lexi Time

#. %ntrapreneurshipc. 8rapevine

d. Io# /nrichment

e. Telecommuting

f. Team Management

g. /thical 6ecision Making

h. /mployee %nvolvement and /mpowerment

i. :uilding %nformal /mployee etwork

. Transformational leadershipk. Managing /mployee 6iversity

l. /mployee 4ecognition and 4ewards

Kaptai Engineering Academy- Lecture Synopsis

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