Wednesday, March 30, 2011
Principles Of Management - Final Exam
Principles of Management – Final Exam
March 30, 2011
1. In your opinion, what are the top five skills every manager should learn and master? In my opinion, the top five skills every manager should learn and master are: 1. Motivation: Human Skills, 2. Coaching: Technical Skills, 3. Delegation Skills, 4. Planning: Conceptual Skills and 5. Negotiating Skills: Strong Sense of Urgency.
2. What are the first three things you would implement in your new job in order to have a positive impact? The first three things I would implement in my new job in order to have a positive impact are: Implement a performance review process. Implement a Planning Session to set goal, in lined with the Corporate Mission Statement, for the next five years, incorporating strategies for steps toward yearly and monthly achieving these goals. Implement a daily twenty minutes of innovation and creative. At the end of the week the idea is too presented to the team.
3. What would be your level of trust with this employee, and what kind of expectations would you have? My level of trust with this employee would be very low to none existing. My expectations would be low and untrusting at first. What would you do to improve the relationship and productivity? To improve the relationship and productivity, I would spend time allowing this employee to explain himself/herself and demonstrating how to implement the improvement he/she is advocating. I short, would value their ideas and inputs for improvement.
4. Would you implement a process of your own for your team? Why yes/no? Yes, I would implement a process of my own for my team. Implementing a Formal Performance Management Review Process provides specific, measurable, attainable, relevant, and time bounded goals. Describe the steps that you would take to implement a performance review process. The steps that you would take to implement a performance review process are:
Clarifying job responsibilities and expectations.
Enhancing individual and group productivity.
Developing employee capabilities to their fullest extent through effective feedback and coaching.
Driving behavior to align with the organization’s core values, goals and strategy.
Providing a basis for making operational human capital decisions.
Improving communication between employees and managers.
The parts of the organization that I would involve and how they should be involved are Financial Department –Budget concerns for pay increases, Operations Plans Department- Projects allocation of resources.
5. What steps would you take to convince her otherwise, and get her buy-in? Share with her the overwhelming result of previous situations where the performance review process made a giant difference in the employees performance , developed skills and attitude.
6. Describe the actions that you would take to foster her career. Provide specific management training and begin with Customer Service and delegation.
7. Describe why should you delegate? Relives time - pressures from you. Delegation helps people and organizations grow. What would you delegate? Delegate tasks that you know well how long it takes and what skills are needed to accomplish the task. What would not delegate? Do not delegate task that are managements direct responsibility or “hot potatoes”. What steps would you take in the process? Explain the purpose of the task how it fits into the organizational goals and how to complete the task effectively and efficiently.
8. What elements would look into, and what order? The nine elements I would look into are: 1.Customer Segments, 2. Value Propositions, 3. Channels, 4. Customer Relationships, 5. Revenue Streams. 6. Key Resources, 7. Key Activities, 8. Key Partners and 9. Cost Structure. Name the two most important elements of your revised business model. The two most important elements of your revised business model are Revenue Streams and Customer Relationships.
9. Describe your experience and initial expectations using Linkedin.com. How do you plan to keep using it? I enjoyed using Linkedin.com and expect to stay linked with classmates, former colleagues and future employers.
10. Describe the criteria and process to set up goals. ‘Failing to Plan is Planning to Fail.”
Management By Objectives (MBO)
– Specific performance goals are jointly determined by employees and managers.
– Progress toward accomplishing goals is periodically reviewed.
– Rewards are allocated on the basis of progress towards the goals.
– Key elements of MBO: Goal specificity, participative decision making, an explicit performance/evaluation period, feedback.