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Business and management - Effective teams.

Extracts from this document...

Introduction

ASSIGNMENT IN BUSINESS & MANAGEMENT SUBMITTED TO MR. PETER MCINNES UNIVERSITY OF STRATHCLYDE, GRADUATE SCHOOL OF BUSINESS 15.01.2004 BY FRANCIS IKERE PAAL SVARSTAD GARRY THOMSON RITU KURUVILLA SAM ADEMA KHAIRAKHMETOVA Table of Contents Introduction............................................................ 02 Group Dynamics..................................................... 03 Decision Making..................................................... 08 Management by Results........................................... 12 Successful Implementation (Project Management)......... 16 Conclusion............................................................ 22 References............................................................ 23 Appendix (Project Plan)............................................ 24 Introduction The Business and Management course is a diverse mix of areas which contribute towards effective management of an organisation. The Business and Management area is surrounded by and interconnected with all business disciplines - Organisations and Human Resources Management, Business Policy and Business Planning, Accounting, Finance, Operations and Marketing Management, Knowledge Management and Learning Manager. The relationship of Business and Management with these areas are presented by the following components which will be examined and analysed throughout the assignment: Managing in a Changing Environment, Organising: Differentiating and Integrating, Decision Making: Rationalist and Alternative Perspectives, Politics and Influencing People, Managing for Results and Making it Happen?Implementation. The main role of Business Management within the above areas is to explore the contemporary business practice, examine their implications for an organisation and for an individual, and emphasise the relational and performance-related elements of managerial work. Emphasis must also be placed on exchanging and sharing ideas on 'good' practice in specific cultures, as well as establishing expectations of self and others and the role power plays in shaping these.1 The approach taken to explore concepts of the course has been to place emphasis on the continuous group work which proved to be the most efficient way of learning and gaining knowledge. Group exercises, discussions and academic reading have all been used as methods in order to develop a greater understanding of business and management as a whole. The predominant areas to be analysed are Group Dynamics, Decision Making, Management by Results and Implementation/Project Management, theoretical and practical aspects of which are presented in the assignment. ...read more.

Middle

Group brainstorming: This led to various differences of opinions and ideas. The Glasgow group in particular was not willing to divert from their opinion and consider the better opinions from other groups. This resulted in minor conflicts and forming of coalition between the Frankfurt and Lyon groups. Groupthink: Imposition of intimidating phrases and words of ridicule by the Glasgow members and their refusal to accept other member's opinions resulted in voting and selecting the best decisions. Managing for Results A number of different performance management systems have been developed and are in use in a variety of different organisations in the public, private and voluntary sectors. * NRU LSP Performance Management Framework; * The European Foundation for Quality Management (EFQM); * The Balanced Score Card; * ISO 9000 2000; * Total Quality Management; * Performance Assessment, Monitoring, Review. The selection of the appropriate model is dependent on whether there is more focus on the performance management of individuals or as an organisation, as well as quantitative or qualitative indicators and measures are keys to make an effective assessment. One of the listed models, Kaplan and Norton's Balanced Score Card approach reviews an organisational performance from four perspectives: ?Financial, Customer, ??Internal Business Process and ??Learning and Growth. Within these areas, Kaplan and Norton provide a number of suggestions for quantitative measures to assess organisational performance. Financial The financial area is split into three parts; Revenue Growth (Sales and market share, Number of new customers and markets, Number of new strategies), Cost Management (Revenue per employee, Unit cost reduction,) and Asset Utilisation (Inventory reduction, Cash-to-cash cycle, Return on capital, Productivity/Efficiency.) Customer Kaplan and Norton suggest that organisations must first identify the market segment that they aim to supply. For each segment, they must focus whether the type of measure that they implement fits the characteristics of the business. Internal Business Processes Kaplan and Norton acknowledge that, although improvements in internal business processes do not have any bearing on the management of business at the strategic level, they do contribute towards noticeable improvements in business in the long term. ...read more.

Conclusion

Shared leadership results in commitment of group members to the cause. It's important to harness the diversity in groups. This also calls for open-mindedness and ability to challenge the status quo. Open and constant communication, both vertically and horizontally helps to decrease misunderstandings and conflicts within teams. Constructive feedback gives teams information on the progress they are making in order to see what is effective and what is not. High level of trust amongst team members leads to successful teamwork by allowing division of the work into manageable tasks. Effective teams have to be meticulously put together; this will result in teams that have a clear picture of their goals as well as clear and tangible evidence of their achievements From the study we established the importance and effectiveness of coalition and networking amongst stakeholders as well as having valuable company and market information. Thorough preparation for meetings is essential i.e. stakeholders analysis. Open mindedness should be maintained throughout the decision making process. All suggestions are valuable, and ideas that challenge conventional approaches should be encouraged. In order to effectively review performance, there should be emphasis on role development and mission statement. Strategic goals and plans should be established and key results areas defined. Organisational and individual employee objective and performance indicators should be established. Periodic measurement and assessment of each objective is vital, this will help in establishing training needs. The project implementation involves coordination and integration of all the activities of various contributors. The prime responsibly is to ensure that the project is organised so that all components and people fit together as an integrated whole. The project manager must develop communication channels that are appropriate for the particular project. The three primary constrains on a project; cost, time and quality must be managed throughout the project. The manager also needs to ascertain project performance and boost staff morale by spending time with them. ...read more.

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