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| Title | Management Development Program |
| Description | The Fundamentals of Leadership and Management Development Aims to equip middle managers with the means to become effective managers, Pursuing the goals of excellence within their own organizations. The program is designed to facilitate an understanding of management and the ability to integrate and apply the key competencies required to each of the functional areas of business. Transitioning into a new senior or management position often requires developing a broad set of knowledge and skills to equip you for your new role. Accelerate your growth by expanding your business acumen, learning how to lead high-performance teams and influence at all levels within your organization. On the Management Development Program, our practitioner faculty will help you understand your personal leadership style and how to maximize your ability to motivate others. You’ll study topics across leadership, strategy, and finance, and apply your learning in immersive simulations that mimic real challenges you’re likely to face. Leadership: Learn how to adapt your own leadership approach to motivate your team and deliver excellence Strategy: Understand strategy and how creative solutions are formed, and develop a strong personal and team management process to ensure seamless execution Business foundations: Learn key financial principles and build confidence in contributing to business-shaping discussions Build upon your classroom studies through our Leadership Program opportunities. Learn first-hand about a Management operations no matter where you are in the world. MDP allow you to truly experience the industries from the ground up, where our founders and many of our leaders began. Get immersed in Leadership culture and Business Entrepreneurs, and find your true calling in your industry. Provided incredible opportunities to develop projects and initiate improvements. The ability to work directly with the property’s management team that places a high emphasis on leadership development. MDP: - This is a multiple companies types based modular program to build critical management skills, e.g. Communication, Decision Making, Financial Awareness, Time Management & Tasks Delegation. The introduction of this program is for First l Front Line management with direct reports & will cover the following Modules. This is a multiple companies types based modular program to build critical management skills, e.g. Communication, Decision Making, Financial Awareness, Time Management & Tasks Delegation. The introduction of this program is for Students | Entrepreneurs | Employees Will cover the following Modules: 1. Living the values • Review of Vision • Mission values • Recognition tools • Evaluating Smart Objects 2. Results Focus • Practice calculating key performance indicators 3. Operational Focus • Customer Focus • Job skills Checklist • Pre Shift Meeting & Learning Topics • Enhance Team members Skills & performance 4. Judgement • Introduction of DECIDE Model • Decision Making Techniques 5. Collaboration Practice • Key Partners • Key Activities • Key Resources 6. Knowledge & Headlines • Introduction of department’s daily operations • Strategy and Business Planning • Financial Management • Sales and Relationship Management 7. Acceleration • Handle Difficult Conversations • Communication Strategy • Motivate & Lead the Team • Manage The Right Priorities • Self-Control & Self-Motivation • Personal Learning Objectives Introduction Management Development Program Aims to equip middle managers with the means to become effective managers, pursuing the goals of excellence within their own organizations. The program is designed to facilitate an understanding of management and the ability to integrate and apply the key competencies required to each of the functional areas of business. Transitioning into a new senior or management position often requires developing a broad set of knowledge and skills to equip you for your new role. Accelerate your growth by expanding your business acumen, learning how to lead high-performance teams and influence at all levels within your organization. On the Management Development Program, our practitioner faculty will help you understand your personal leadership style and how to maximize your ability to motivate others. You’ll study topics across leadership, strategy, and finance, and apply your learning in immersive simulations that mimic real challenges you’re likely to face. • Leadership: Learn how to adapt your own leadership approach to motivate your team and deliver excellence • Strategy: Understand strategy and how creative solutions are formed, and develop a strong personal and team management process to ensure seamless execution • Business foundations: Learn key financial principles and build confidence in contributing to business-shaping discussions Build upon your classroom studies through our Leadership Program opportunities. Learn first-hand about Management operations no matter where you are in the world. MDP allow you to truly experience the industries from the ground up, where our founders and many of our leaders began. Get immersed in Leadership culture and Business Entrepreneurs, and find your true calling in your industry. Provided incredible opportunities to develop projects and initiate improvements. The ability to work directly with the property’s management team that places a high emphasis on leadership development. Module 1 Living the Values 1. Review of Vision • What is Vision Statement? 2. Mission values • What is the mission statement? • The difference between Vision & Mission? 3. Recognition tools • What is Employee Recognition? • Why is Employee Recognition Important? • Types of Employee Recognition and Rewards 4. Evaluating Smart Objects • Why is an evaluation important? • Introduction to The SMART Objective Living Values Every Day: How Values Influence the Way We Work and Live By aligning organizational and individual values, people are happier and more engaged in their daily work and life and businesses benefit. Review of Vision: A vision is a vivid mental image of what you want your business to be at some point in the future, based on your goals and aspirations. Having a vision will give your business a clear focus, and can stop you heading in the wrong direction. What is Vision Statement? A Vision Statement describes the desired future position of the company. Elements of Mission and Vision Statements are often combined to provide a statement of the company's purposes, goals and values. Mission values: What is the mission statement? A Mission Statement defines the company's business, its objectives and its approach to reach those objectives. It captures, in a few succinct sentences, the essence of your business's goals and the philosophies underlying them. Equally important, the mission statement signals what your business is all about to your customers, employees, suppliers and the community. What's the difference between vision and mission? Organizations summarize their goals and objectives in mission and vision statements. Both of these serve different purposes for a company but are often confused with each other. While a mission statement describes what a company wants to do now, a vision statement outlines what a company wants to be in the future. Recognition tools: Employee recognition is easy to integrate into your organizational culture if you have the right tools and resources. What is Employee Recognition? The Guide to Modern Employee Recognition provides the foundation of knowledge you need to build and support a culture of recognition in your organization. Why is Employee Recognition Important? Staff recognition is a highly effective and proven strategy for improving employee engagement. A well-implemented staff appreciation program has the power to impact many aspects of business from morale, to productivity, engagement, and even retention. Types of Employee Recognition and Rewards There are many ways employers recognize staff contributions, but there are two main divisions between employee recognition styles: Top-Down & Peer-to-Peer 1. Top-Down Recognition In a top-down employee recognition system, an employee’s supervisor witnesses and recognizes their contributions. Top-down recognition can take many forms. Some examples are: • Years of Service Award In recognition of an employee's continued contributions to an organization over a number of years, a 'Years of Service' award can be given at specific intervals, or milestones. 'Years of Service' awards do not often involve financial compensation, but may include a gift of some kind. Commonly offered awards include: plaques, engraved pens, or group greeting cards. • Employee Appreciation Day Over the past 20 years, other companies have embraced the unofficial holiday, paying homage to their employees on the first Friday of March. Organizations have been known to celebrate Employee Appreciation Day with small company-funded events like barbecues, or small office parties. Additional financial compensation is not often an element of Employee Appreciation Day. • Annual Bonuses An annual bonus is financial compensation given to employees in addition to their base pay. Annual bonuses are given once per year, usually at the end of the fourth business quarter. Annual bonuses can be given for a multitude of reasons, but are usually based on performance, either the performance of the organization, the individual, or both. "Example: Emma's sales numbers exceeded her quota for four consecutive business quarters. To recognize her achievements throughout the year, Emma is given an annual bonus in addition to her base salary and commissions." • Quarterly Bonuses Quarterly bonuses are similar to annual bonuses, but are metered out on a more frequent basis (per business quarter). Quarterly bonuses are most commonly given as part of a heavily performance-based compensation model. Sales organizations are common adopters of the quarterly bonus structure. "Example: Alex landed Acme Inc.'s largest customer this quarter. In recognition of that achievement, Alex is given a quarterly bonus at the end of Q2." • Spot Bonuses Many organizations choose to thank workers 'on the spot' for achievements that merit particular notice. These bonuses are generally given in recognition of an employee exhibiting exceptional productivity. Spot bonuses are normally $50 USD or more. They're most often given by a direct manager, an indirect manager, or senior coworker in the organization, but can also be given by coworkers as part of a peer-to-peer recognition program. Their on-the-spot nature dictates that spot bonuses are given at an irregular cadence, in contrast to annual and quarterly bonuses. "Example: Fatima's attention to detail and quick thinking saved the company from losing a long-time client. In recognition of her valuable contribution, Fatima is given a $100 spot bonus." 2. Peer-to-Peer Recognition Getting the Most from Peer Recognition In a peer-to-peer recognition system, managers as well as other co-workers are all empowered to recognize and reward the contributions of their colleagues. Some of the most common forms of peer recognition are: • Gold Stars Some organizations encourage employees to recognize one another's contributions through the giving of small mementos. Gold stars are a good example of this type of recognition. These stars are sometimes given a tangible value, and can be exchanged for real-life items. "Example: Despite an already busy schedule of coding, Javier decides to help out his colleague in the marketing department, who is having trouble implementing a new tool. He earned a gold star from his colleague Allison in return for the impactful assistance he offered." • Verbal Praise Verbal praise is perhaps the oldest, and longest-standing form of peer-to-peer recognition in the workplace. Verbal praise is given by colleagues, generally in an ad-hoc fashion, in recognition of a staff member's valuable contribution. Although nearly always informal in nature, verbal praise is occasionally solicited as part of a formal staff recognition program. "Example: Acme's newest customer was extremely impressed with Esther's timeliness and attention to detail. At the beginning of their sales strategy meeting, Esther's colleagues all congratulated her on the achievement, showing their appreciation for her efforts." • Micro Bonuses Micro Bonuses are small monetary rewards given frequently by one colleague to another in recognition of a valuable contribution. Although Micro Bonuses can be given by managers to their direct reports, they can also be given by other colleagues and even from a direct report to a manager. Micro Bonuses provide several unique benefits. Like spot bonuses, staff recognition in the form of Micro Bonuses can be given in the very moment that a valuable contribution is made by an employee. Employee recognition given in the moment has the greatest potential for impact, because the action is rewarded almost immediately, when it is top-of-mind. Because Micro Bonuses are small by nature, they can be given often, providing multiple positive instances of employee recognition without dramatically altering an employee's compensation. "Example: Jeremy's new update to the company's landing page improved conversion by 60 percent, and brought in three new signups in one day. Jeremy's colleague Elisa gave him a micro bonus because those new signups became part of her sales pipeline." Evaluating Smart Objects: • Why is an evaluation important? Improve program design and implementation. It is important to periodically assess and adapt your activities to ensure they are as effective as they can be. Evaluation can help you identify areas for improvement and ultimately help you realize your goals more efficiently. Evaluation objectives are NOT tied to individual learning points that have to be learned, though of course they are linked because both should be relevant to the overarching goals of the learning program. • What is SMART Objects? Effective monitoring and evaluation begins with the objectives of your project or program. Many organizations fail in their effort toward effective monitoring and evaluation because of lack of a SMART objective in their proposed project. There is a big difference between a goal and objectives. While goals are more general and cannot be measure, Objectives are more specific and can be measured. A SMART Objective an objective that is: • Specific • Measurable • Achievable • Realistic • Timely In the Non-for- profit sector, Objectives can be of four different classified as: Behavioral, Performance, Process and Product For illustration, here is the goal of a project with a subsidiary objective: "Goal: Our after-school program will help children read better. (Cannot be measured)" Objective: Our after-school remedial education program will assist 50 children in improving their reading scores by one grade level as demonstrated on standardized reading tests administered after participating in the program for six months. [YES it is specific, it can be measured (50 children improve reading score by one grade), it is achievable, it is realistic, it is timely (6 months): 1. Behavioral: A human action is anticipated. Example: Fifty of the 70 children participating will learn to swim. 2. Performance: A specific time frame, within which a behavior will occur, at an expected proficiency level, is expected. 3. Process: The manner in which something occurs is an end in itself. Example: We will document the teaching methods utilized, identifying those with the greatest success. 4. Product: A tangible item results. Example: A manual will be created to be used in teaching swimming to this age and proficiency group in the future. Looking at the four types of objectives stated above, it is very clear that they respect all the elements of SMART and can be monitored and evaluated at the end of the project in comparison with the baseline information or assessment. Module 2 Results Focus Practice calculating key performance indicators KPI Works to achieve an outcome rather than focus on the process it takes to get there. It is about aligning the employee's key skills and setting plans for the delivery of certain results. Achieves those results in order to be successful within their company. • What is KPI? • Examples • Importance • Identify KPI's? • Measure KPI? • Key Takeaways • What is KPI? Key performance Indicator' (or KPI) is a metric which is one of the most important indicators of the current performance level of an individual, department and/or a company in achieving goals. • Why KPI is important? It is a measurable value that demonstrates how effectively a company is achieving key business objectives. Organizations use KPIs to evaluate their success at reaching targets. "Before you can identify KPIs, you must know your goals as an employee, as a department and as a company." • How do you measure KPI? 1. Establish Goals & Objectives. 2. Establish Critical Success Factors (CSF) from the Goals & Objectives. 3. Establish Key Performance Indicator (KPI) from CSF. 4. Collect Measures. 5. Calculate Metrics from Measures • KPI's Examples? 1. Growth in Revenue. 2. Net Profit Margin. 3. Gross Profit Margin. 4. Operational Cash Flow. 5. Current Accounts Receivables. 6. Inventory Turnover. 7. EBITDA. How do you identify KPI's? 1. Choose KPIs That Are Directly Related to Your Business Goals. KPIs are quantifiable measurements or data points used to gauge your company’s performance relative to some goal. For instance, a KPI could be related to your goal of increasing sales, improving the return on investment of your marketing efforts, or improving customer service. Mark Hayes, Shopify’s Director of Communications, wrote the following examples of common ecommerce goals and related to Key Performance Indicators for Ecommerce. Goal 1: Boost sales 10% in the next quarter • KPIs include daily sales, conversion rate and site traffic Goal 2: Increase conversion rate 2% in the next year • KPIs include conversion rate, shopping cart abandonment rate, associated shipping rate trends, competitive price trends. Goal 3: Grow site traffic 20% in the next year • KPIs include site traffic, traffic sources, promotional click-through rates, social shares, bounce rates. Goal 4: Reduce customer service calls by half in the next 6 months. • KPIs include service call satisfaction, identify of page visited immediately before the call, event that lead to the call. Each of the potential KPIs listed in the four examples are directly related to the core business goal. What are you company goals? Have you identified any major areas for improvement or optimization? What are the biggest priorities for your management team? 2. Focus on a Few Key Metrics, Rather Than a Slew of Data Points. One of the great things about inbound marketing is that you can measure everything with very detailed metrics. Views, clicks, conversions, opens, send, the list goes on. However, as you begin to identify KPIs for you business you should be aware that less is almost always more. Rather than choosing dozens of metrics to measure and report on you should focus on just a few key metrics. "If you try and track too many KPIs, you might as well just not track anything at all". Every company, industry and business model is very different so it is difficult to pinpoint an exact number for the amount of KPIs you should have. Although, based on our experience, in most cases you should aim to identify somewhere between four and ten KPIs. 3. Consider Your Company's Stage of Growth. Depending on the stage of your company (Startup vs Enterprise) certain metrics will be more important than others. Early stage companies typically focus on metrics related to business model validation while more established organizations focus on metrics like cost per acquisition and customer lifetime value. Here are a few examples of potential key performance indicators for companies in various stages of growth: PRE-PRODUCT MARKET FIT PRODUCT MARKET FIT EXPANSION • Qualitative feedback • Customer interviews • Awareness • Stickiness • Monthly recurring revenue • Renewals • Churn • Customer satisfaction • Cost per acquisition • Average order size • Lifetime value • Number of customers acquired 4. Identify Both Lagging and Leading Performance Indicators. The difference between lagging and leading indicators essentially knows how you did, versus how you are doing. Leading indicators aren’t necessarily better than lagging indicators, or vice versa. You should just be aware of the differences between the two. Lagging indicators measure an output of something that has already happened. Total sales last month, the number of new customers, or hours of professional services delivered are all examples of lagging indicators. These types of metrics are good for purely measuring results, as they solely focus on outputs. On the other hand, leading indicators measure inputs, progress and your likelihood of achieving a goal in the future. These types of metrics serve as predictors of what’s to come. Website traffic, conversion rates, sales opportunity age and sales rep activity are just a few examples of leading indicators. Traditionally most organizations have solely focused on lagging indicators. One of the main reasons for this is that lagging indicators tend to be easy to measure since the events have already happened. For instance, it is very easy to pull a report of the number of customers acquired last quarter. You can think of leading indicators as business drivers because they come before trends emerge, which can help you identify whether or not you are on track to reaching your goals. If you can identify which leading indicators will impact your future performance you will have a much better shot at success. 5. Understand That KPIs Are Different for Every Industry and Business Model. The KPIs that you choose will be greatly influenced by your organization's business model and the industry in which you operate. For example, a B2B software-as-a-service company might choose to focus on customer acquisition and churn, whereas a brick and mortar retail company might focus on sales per square foot or average customer spend. Here are a few examples of some industry standard KPIs: SAAS KPIS • Monthly recurring revenue • Churn • Cost per acquisition • Average revenue per retainer • Lifetime value Professional Services KPIS • Bookings • Utilization • Backlog • Revenue leakage • Effective billable rate Online Media / Publishing KPIs • Unique visitors • Page views • Share ratio • Social referral growth • Time on site Retail KPIs • Capital expenditure • Customer satisfaction • Sales per square foot • Average customer spend • Stock turnover While you will most certainly want to consider industry standard KPIs, it is more important that you choose the KPIs that are relevant to your specific company and the goals you are working towards. Key Takeaways • Ensure your KPIs will accurately measure your progress towards overarching company goals • Less is more - Choose somewhere between 4 and 10 KPIs to focus on • Consider your company’s stage of growth - The importance of certain metrics will shift as your company’s priorities evolve • Identify both lagging and leading performance indicators - It’s important to understand both what happened in the past and how you are progressing towards your future goals • Reference industry KPIs but keep in mind that you should choose the KPIs that are most relevant for your specific situation and company Module 3 Operational Focus Customer Focus • Customer Satisfaction • Customer experience • Customer loyalty Job skills Checklist • Why checklist is important • What is the purpose of the checklist? • What are the benefits of a checklist? Pre Shift Meeting & Learning Topics • What is pre-shift meeting? • Why You Should Have Pre-Shift Meetings? Enhance Team members Skills & performance • Observing Team members and giving feedback • Identify Your Team's Development Gaps. • Discuss Daily, Weekly & Monthly Goals & Targets • Establish Specific Training Objectives. • Create the Right Training Plan. • Celebrate and Make it Fun. Review of customer satisfaction experience and loyalty tracking key Measuring customer satisfaction helps determine the level of happiness a customer feels about your company, your products, or your service. "Did you know 80 percent of companies believe they offer superior customer satisfaction, but only 8 percent of customers would rate the customer service they receive as superior?" Most companies aren’t providing the level of customer satisfaction their clients want. Even worse, most aren’t aware of it! So, how do you know you’re offering the type of service your customers expect? The first step is to determine what metrics matter and how you’re going to accurately track them. You don’t just come up with a customer satisfaction score. Brush up on the types of customer satisfaction metrics and learn how your business can improve your customer service, build relationships, and decrease churn rate. • Customer Satisfaction • Customer Experience • Customer Loyalty Before you can get into customer satisfaction metrics, you must define exactly what you mean by customer satisfaction. Without any context, the numbers lose their meaning. So what are customer satisfaction metrics, and how do they differ from other data points your company may be measuring? At its simplest, customer satisfaction metrics refer to how happy customers are with the service they receive. Since happiness is subjective, customer satisfaction is connected to the individual’s customer experience (CX). Customer experience Is the sum of your customer’s experience with your brand across all touch point on the customer journey, from initial discovery through conversion. CX reflects the way your company makes customers feel during interactions, as well as the way they feel when they use your products or explore your services. Customer loyalty reflects whether a customer would buy from you again and how they feel about that. Say you offer a unique product your customer can’t get anywhere else, but you don’t provide great service: Your website is disorganized and your products take forever to ship. Your customers will buy from you again, out of necessity, but they won’t feel good about it. The minute they can get that product from another supplier, they’ll abandon you. Job skills Checklist • Why checklist is important • Purpose of the checklist? • Benefits of a checklist? Making a checklist is a good way to start your business off on the right foot. It ensures you get your daily, weekly and monthly tasks done on time, helps you keep track of projects on deadline and ensures you're organized throughout the day. A checklist is a type of job aid used to reduce failure by compensating for potential limits of human memory and attention. It helps to ensure consistency and completeness in carrying out a task. A basic example is the "to do list". 1. Save time and brain power. 2. Make delegating easier. 3. Reach your goals quicker. 4. Using a checklist allows you to get more done. It's been said that you get an endorphin rush whenever you cross something off of a checklist. Pre Shift Meeting & Learning Topics What is pre-shift meeting? A part of that ongoing management process that occasionally gets overlooked is the pre-shift meeting, sometimes referred to as the lineup. Taking a few minutes before a shift to brief staff and make sure they are ready to serve customers is one of the industry's most beneficial management tools. Why You Should Have Pre-Shift Meetings? • Open Lines of Communication The hustle and bustle of your operating hours means you rarely have the chance to interact with employees in a stress-free environment. The lineup is an opportunity to make clear what you expect from them and allow them the opportunity to give you feedback that may help fine-tune your operation. • Motivate The pre-shift meeting is not the time for negativity. Even if you have valid reasons for disciplining the staff, your restaurant will be far better served by using this opportunity to get the staff excited about their upcoming job. This is also a good time to publicly praise good work by individual employees. • Begin Managing Cheryl Parsons wrote on rewardsnetwork.com that the lineup is when managers should introduce topics they expect to reinforce during the shift: “Managers must realize that these meetings plant the seeds for which topics managers will manage that day,” said Fitzgerald. Points of emphasis will better resonate with staff if they are reminders of something you touched on during pre-shift. • Address Customer Questions In the course of an average day, your staff will be asked a multitude of questions, often simple questions about the locality, the establishment, about menu items and local events. If your staff can’t answer these questions, you will have a more difficult task in enticing these customers back. Your pre-shift meeting should arm your staff with the basic knowledge required to represent you and your company. After all, you can’t answer all customer queries yourself. There are questions to which the answers will possibly change on a daily basis (hence the importance of a pre-shift meeting). There are also general questions to which your staff should always know the answers to. Enhance Team members Skills & performance • Observing Team members and giving feedback • Identify Your Team's Development Gaps. • Discuss Daily, Weekly & Monthly Goals & Targets • Establish Specific Training Objectives. • Create the Right Training Plan. • Celebrate and Make it Fun. Module 4 Judgement Judgement is the evaluation of evidence to make a decision. The term has four distinct uses: Informal – opinions expressed as facts. Informal and psychological – used in reference to the quality of cognitive faculties and adjudication capabilities of particular individuals, typically called wisdom or discernment. Introduction of DECIDE Model D.E.C.I.D.E Model: The purpose of this article is to describe a step-by-step process for decision making, and a model is developed to aid health care managers in making more quality decisions, which ultimately determines the success of organizations. The DECIDE model is the acronym of 6 particular activities needed in the decision-making process: 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 and monitor the solution The DECIDE model is intended as a resource for health care managers when applying the crucial components of decision making, and it enables managers to improve their decision-making skills, which leads to more effective decisions. D = define the problem Decision making is a problem-solving process that aims to eliminate barriers to achieving individual or organizational goals. By defining problems or determining what the barriers are, then managers can take steps to remove these barriers. However, defining the problem is not an easy task. It can be a time-consuming process. A manager must question the staff and monitor daily activities and tasks to fully investigate the extent of the problem. Dunn2 suggests that what often appears as a problem may only be a symptom and digging deeper can lead to the real problem. • What is the problem? • Why should anything be done at all? • What should or could be happening? E = establish the criteria After having defined the problem, the second step is to establish the criteria. Criteria are the measures used to arrive at a solution that best fulfills the purpose. 3 Criteria should not be confused with purpose. The purpose is ‘‘what needs to be determined and why?’’ Decision criteria are used to achieve the purpose. To help establish the criteria. • What do you want to achieve in your decision? • What do you want to preserve? • What do you want to avoid as problems? C = consider all the alternatives Considering all alternatives is a search for various alternative courses of action and solutions. Many alternatives, and not just the traditional 2 or 3, need to be considered.10 To derive all the alternatives, a manager must engage in brainstorming to develop and consider as many alternatives as possible. This method leads to more choices and increases communication and team building. Another method to develop alternatives is through using the Internet to hold discussion groups with peers around the world who can actively participate in discussions by sharing their experiences and outcomes. A major advantage of this method is being able to obtain alternatives from colleagues from a variety of cultures, which enriches the alternatives.2 For any given situation, there should be several alternatives. Although these choices are not obvious, a manager is responsible for casting a wider net to create as many as possible. I = identify the best alternative In the process of identifying the best alternative from among the various chosen alternatives, a manager should be aware that an alternative decision must be of high quality and supported and accepted by the group of employees immediately affected by the decision in the organization. Decisions would not be effective or may even be sabotaged when the group does not willingly accept the decision. A manager’s final selection of various alternatives is influenced by experience (experiential decision making), intuition, or experimentation. Experiential decision making is very common in medical care. Physicians often base their decisions on their experience. A manager can base his/her decision on a past experience because of similarities in problem definition. D = develop and implement a plan of action Developing and implementing a plan of action are as important as making the decision. Planning is the most fundamental function of managers. It provides direction, establishes control, anticipates change, and develops responses to uncertainty. This step involves 2 essential processes: Communication & Coordination. Communication entails the exchange of information among various individuals in the organization. If the decision is not clearly communicated to the staff that must perform the decision and unless it is coordinated with other departments in the organization, the plan and the decision are worthless. In this step, 2 questions must be answered. 1. How is the action plan going to be implemented? 2. What are the resources used in the actual implementation? Within the planning function, goals and objectives are set. Senior-level administrators are responsible for the primary objectives for the organization, whereas middle-level managers are responsible for secondary or department goals. Specifically, they must be able to develop measurable objectives in the action plan. E = evaluate and monitor the solution The final step in the DECIDE model is to evaluate and monitor the solution. It is not enough to just make a decision. It is crucial to evaluate the decision made and to investigate ‘‘what could go wrong.’’ This step helps to prevent, minimize, and overcome all possible adverse consequences. For instance, once the decision is made, it may not work, and then a manager must start over to redefine the problem. Feedback is important because it provides information related to the decision. Asking questions from superiors, staff, patients, and other customers are parts of the feedback process. Through feedback, a manager finds out whether the decision led to the intended results. Even if the action has the intended effects, unintended consequences may also have occurred. Sometimes, although a decision was correctly implemented, it does not last forever, and changes are needed over time, as problems recur and new problems arise. Module 5 Collaboration Practice • Key Partners • Key Activities • Key Resources Key Partners 1. Who are our key partners? Who are the entities or people who will contribute to the success of your business, but who are neither employees nor suppliers? For example: large universities often develop research in partnership with industries, which store these surveys to be able to use them in business. 2. Who are our key suppliers? There are suppliers that can be easily replaced, usually those that produce commodities. But other extremely specialized features and services that your business needs come from key suppliers. You have to find out who they are to strengthen the relationship. For example: among the key suppliers of a jewelry store are the big producers of hard to find and replace gemstones. 3. What key resources do we get from partners? In the first example we gave, this is clear: universities get capital to invest in research, And companies get the information and insights from the academic research they need. 4. What key activities do the partners carry out? Again, our initial example helps to understand this: the high-quality professional service provided by universities, their professors, and students, is the activity that companies receive. In the case of jewelry, the extraction, selection, and stoning of the gems are the activity the partner performs. 5. What can motivate these partnerships? Now the question is more strategic. See that partnership, in the case of universities, is a mutual process of collaboration, in which both key partners in a business model have a benefit, there is a reciprocity that motivates this partnership. But, in the case of the supply of precious stones, this doesn’t occur, the relationship is merely commercial. Is it possible to find a way to strengthen this partnership? If the jewelry store created a jewelry line with the name of one of the mines where they extract the stones, would this create a common brand between the two companies? The next 3 questions go in this direction. Now that we know who the partners are and what they provide, how can we improve this relationship? 6. How do you achieve optimization and savings with key partners? Creating a unique partnership with a smaller precious stones supplier, ensuring the purchase of all your production, with special prices for the jewelry, and determining quality standards that correspond exactly to what the jeweler needs, can be a beneficial idea for both key partners in a business model & it reduce risks and uncertainties. 7. How do you access certain resources and activities? Imagine that the university needs a certain expensive device to analyze certain materials and conduct their research. It will need to find the right company, which has enough resources to purchase the equipment and maintain it. This company should also have an interest in this field of research. • Key Activities • Key Resources Your business model calls for a number of Key Activities. These are the most important actions your company must perform to operate successfully. Like Key Resources, they are required to create and offer a Value Proposition, reach markets, maintain Customer Relationships, and earn revenues. And like Key Resources, Key Activities differ depending on business model type. The Key activities of a business represent what the company must do to make the business model work. These activities can be producing a product or providing a service, or a mix of both. For example, if your business focuses on the production of a product, your activities may include learning more about the customers and new production techniques to improve the product. For example, you are already producing chairs. One of your activities may be to doing market research to find out if customers are happy with your chairs or if you need to update the model to better fit their needs. Key Resources is the building block describing the most important assets needed to make a business model work. Every business model requires them, and it is only through them that companies generate Value Propositions and Revenues. Key resources can be physical, financial, intellectual, or human. Module 6 Knowledge Headlines • Daily Operations • Business Planning • Financial • Sales & Relationship Introduction department’s daily operations Operations management is the administration of business practices to create the highest level of efficiency possible within an organization. It is concerned with converting materials and labor into goods and services as efficiently as possible to maximize the profit of an organization. Day-to-Day Business Operations Defined. Day-to-day business operations are the activities that a business and its employees engage in on a daily basis for the purposes of generating a profit and increasing the inherent value of the business as a going concern. Strategy and Business Planning 1. Definition of Strategy Business Plan 2. Why Strategy Business Plan is important A strategic business plan is a written document that pairs the objectives of a company with the needs of the market place. Although a strategic business plan contains similar elements of a traditional plan, a strategic plan takes planning a step further by not only defining company goals but utilizing those goals to take advantage of available business opportunities. This is achieved by carefully analyzing a particular business industry and being honest about your company's strength and weakness in meeting the needs of the industry. For company growth and success. Business plans provide companies with the tools to track growth establish a budget and prepare for unforeseen changes in the marketplace. A strategic plan includes many elements a business can utilize to attract financing and manage company objectives. To optimize market research and to attain optimum market share for your business. The plan allows businesses to focus on a particular niche in the marketplace, which makes sales, advertising and customer management more effective. The plan allows a company to know as much as possible about the needs of its customers and gaps in the marketplace that need to be filled. A strategic business plan helps a company provide better, more targeted service to its clients. Financial Management Financial Management is a vital activity in any organization or department. It is the process of planning, organizing, controlling and monitoring financial resources with a view to achieve both organizational and departmental goals and objectives. In general usage, a financial plan is a comprehensive evaluation of an individual's current pay and future financial state by using current known variables to predict future income, asset values and withdrawal plans. Sales and Relationship Management In fact, the sales industry is one that is largely built on relationships. Your prospecting team is responsible for building sales relationships with clients initially, and your sales reps have to maintain and improve upon those relationships. Relationship selling refers to the sales technique that focuses on the interaction between the buyer and the salesperson rather than the price or details of the product. A major advantage of relationship selling is that it draws loyal customers by developing trust and delivering value. Building a base of loyal customers is important because it can be up to 10 times more expensive to attain new customers than it is to retain previous ones. Module 7 Acceleration • Handle Difficult Conversations • Manage the Right Priorities • Communication Strategy • Self-Control & Self-Motivation • Motivate & Lead the Team. • Personal Learning Objectives Handle Difficult Conversations We all have an inner voice that tells us when we need to have a difficult conversation with someone—a conversation that, if it took place, would improve life at the office for ourselves and for everyone else on our team. But fear drowns that inner voice—and we put the conversation off. Meanwhile the offending individual continues to provide substandard performance, miss deadlines, and engage in interpersonal conflicts and exhibit toxic behavior. The consequence of not having that uncomfortable conversation is costly. A CPP Inc. study of workplace conflict reveals that employees in the U.S. spend roughly 2.8 hours per week dealing with conflict. Thirty-three percent of employees report that the conflict led to personal injury and attacks, and 22 percent report that it led to illness and absence from work. Ten percent report that project failure was a direct result of conflict. A similar study by Psychometrics in Canada, showed that 32 percent of employees have to deal with conflict regularly. More alarming is a recent study by Accenture revealing that, even in this challenging economic climate, 35 percent of employees leave their jobs voluntarily because of internal politics. Handling the difficult conversation requires skill and empathy, but ultimately, it requires the courage to go ahead and do it. The more you get into the habit of facing these issues squarely, the more adept you will become at it. If you're unsure of how to best approach a crucial conversation, here are some tips to guide you: 1. Be clear about the issue. To prepare for the conversation, you need to ask yourself two important questions: 1. "What exactly is the behavior that is causing the problem?" 2. "What is the impact that the behavior is having on you, the team or the organization?" You need to reach clarity for yourself so you can articulate the issue in two or three succinct statements. If not, you risk going off on a tangent during the conversation. The lack of focus on the central issue will derail the conversation and sabotage your intentions. 2. Know your objective. What do you want to accomplish with the conversation? What is the desired outcome? What are the non-negotiable? As English philosopher Theodore Zeldin put it: A successful conversation "doesn't just reshuffle the cards: it creates new cards." What are the new cards that you want to have in your hands by the end of the conversation? Once you have determined this, plan how you will close the conversation. Don't end without clearly expressed action items. What is the person agreeing to do? What support is you committed to provide? What obstacles might prevent these remedial actions from taking place? What do you both agree to do to overcome potential obstacles? Schedule a follow up to evaluate progress and definitively reach closure on the issue at hand. 3. Adopt a mindset of inquiry. Spend a little time to reflect on your attitude toward the situation and the person involved. What are your preconceived notions about it? Your mindset will predetermine your reaction and interpretations of the other person's responses, so it pays to approach such a conversation with the right mindset—which in this context is one of inquiry. A good doctor diagnoses a situation before reaching for his prescription pad. This applies equally to a leader. Be open to hear first what the other person has to say before reaching closure in your mind. Even if the evidence is so clear that there is no reason to beat around the bush, we still owe it to the person to let them tell their story. A good leader remains open and seeks a greater truth in any situation. The outcome of adopting this approach might surprise you. 4. Be comfortable with silence. There will be moments in the conversation where a silence occurs. Don't rush to fill it with words. Just as the pause between musical notes helps us appreciate the music, so the periodic silence in the conversation allows us to hear what was said and lets the message sink in. A pause also has a calming effect and can help us connect better. For example, if you are an extrovert, you're likely uncomfortable with silence, as you're used to thinking while you're speaking. This can be perceived as steamrolling or overbearing, especially if the other party is an introvert. Introverts want to think before they speak. Stop talking and allow them their moment—it can lead to a better outcome. 5. Preserve the relationship. A leader who has high emotional intelligence is always mindful to limit any collateral damage to a relationship. It takes years to build bridges with people and only minutes to blow them up. Think about how the conversation can fix the situation, without erecting an irreparable wall between you and the person. 6. Be consistent. Ensure that your objective is fair and that you are using a consistent approach. For example, if the person thinks you have one set of rules for this person and a different set for another, you'll be perceived as showing favoritism. Nothing erodes a relationship faster than perceived inequality. Employees have long-term memories of how you handled situations in the past. Aim for consistency in your leadership approach. We trust a leader who is consistent because we don't have to second-guess where they stand on important issues such as culture, corporate values and acceptable behaviors. Communication Strategy Communication strategy is a plan to achieve communication objectives. This may apply to internal communications, marketing communications and public relations. A communication strategy has four major components: communication goals, target audience, communication plan and channels Types of Communication Strategies. Communication strategies can be verbal, nonverbal, or visual. ... Nonverbal communication strategies consist of mostly visual cues, such as body language, facial expressions, physical distance between communicators, or the tone of your voice. These cues are typically not intended. What is the purpose of a communication strategy? The concept of communication can be defined as a process enabling the provision and exchange of information and instruction in order to enable the organization to function effectively. The Department communicates with a range of internal and external stakeholders including. Why is a communication strategy important? An effective communication strategy forges and maintains connections, allowing your business to work efficiently toward its goals. The most basic dynamic in communication exists between the message and the audience. For example, a manager’s orders are her message to her employees, who are her audience. The reverse is also true. The employees’ status reports are messages to their audience, the manager. If connections are clear, each party receives and understands the messages of the other, which fosters synchronized, efficient performance. Who should develop a communication strategy? The program team, including program managers and communication specialists, should work closely with relevant stakeholders and partners to develop a communication strategy. Participation of individuals and groups directly affected by the problem is critical. Their active involvement from the start can help increase program impact and lead to long-term sustainability. The number of people involved in developing a communication strategy will depend on the purpose of the strategy (for example, a marketing strategy for a single product might require fewer people while a comprehensive national strategy for increasing demand would involve more people) and the format used for developing it (for example, a participatory workshop would involve more people while a core working group consulting with stakeholders would involve fewer people). • Motivate & Lead the Team A team leader is someone who provides direction, instructions and guidance to a group of individuals, who can also be known as a team, for the purpose of achieving a certain goal. Team leaders serve various roles in an organization. ... Communicate with team members. Monitor team members. What makes a good team lead? Team leaders naturally possess certain qualities, such as compassion and integrity, or learn leadership skills through formal training and experience. The qualities of an effective team leader inspire the trust and respect of the team and stimulate production within the workplace. Team leaders serve various roles in an organization. Their job is to get tasks done by using all of the resources available to them, including other employees or team members. Below is a list of some important roles a team leader must often take on: 1. Develop a strategy the team will use to reach its goal 2. Provide any training that team members need 3. Communicate clear instructions to team members 4. Listen to team members' feedback 5. Monitor team members' participation to ensure the training they are being provided is being put into use, and also to see if any additional training is needed 6. Manage the flow of day-to-day operations 7. Create reports to update the company on the team's progress 8. Distribute reports to the appropriate personnel |
| Keywords | N/A |
Server Information
| WebSite | |
| Host IP | 184.168.131.241 |
| Location | Scottsdale, Arizona, United States |
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Madepro.org Valuation
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US$5,920
Last updated: Aug 8, 2020
Madepro.org has global traffic rank of 2,872,069. Madepro.org has an estimated worth of US$ 5,920, based on its estimated Ads revenue. Madepro.org receives approximately 1,081 unique visitors each day. Its web server is located in Scottsdale, Arizona, United States, with IP address 184.168.131.241. According to SiteAdvisor, madepro.org is safe to visit. |
Traffic & Worth Estimates
| Purchase/Sale Value | US$5,920 |
| Daily Ads Revenue | US$3 |
| Monthly Ads Revenue | US$97 |
| Yearly Ads Revenue | US$1,184 |
| Daily Unique Visitors | 1,081 |
| Note: All traffic and earnings values are estimates. | |
Traffic Ranks
| Global Rank | 2,872,069 |
| Delta (90 Days) | 0 |
| Most Popular In Country | N/A |
| Country Rank | N/A |
DNS Records
| Host | Type | TTL | Data |
| madepro.org | A | 599 | IP: 184.168.131.241 |
| madepro.org | NS | 3599 | Target: ns23.domaincontrol.com. |
| madepro.org | NS | 3599 | Target: ns24.domaincontrol.com. |
| madepro.org | SOA | 3599 | MNAME: ns23.domaincontrol.com. RNAME: dns.jomax.net. Serial: 2020052403 Refresh: 28800 Retry: 7200 Expire: 604800 Minimum TTL: 600 |
HTTP Headers
HTTP/1.1 301 Moved Permanently Server: nginx/1.16.1 Date: Sat, 08 Aug 2020 13:25:55 GMT Content-Type: text/html; charset=utf-8 Transfer-Encoding: chunked Connection: close Location: http://www.madepro.org HTTP/1.1 301 Moved Permanently Server: openresty Date: Sat, 08 Aug 2020 13:25:55 GMT Content-Type: text/html Content-Length: 178 Connection: keep-alive Location: https://www.madepro.org/ HTTP/1.1 200 OK Server: openresty Date: Sat, 08 Aug 2020 13:25:55 GMT Content-Type: text/html; charset=utf-8 Content-Length: 598227 Connection: keep-alive Vary: Accept-Encoding Strikingly-Cached: current Strikingly-Cached-Version: 1585545305-0 Strikingly-Cache-Region: us-east-1 |
Madepro.org Whois Information
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