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MANAGEMENT
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Introduction
Henry HardoonFCCA, ACA, FAIA, CMC
Twenty years experience as Finance Director
Car rental, recruitment, manufacturing and retail companies
Adviser and part-time FD to small & medium sized businesses
Financial trainer & coach
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Introduction
Why am I here?
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Introduction
We live in turbulent times
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Delegation
Delegation definitionsAppointing a person to act on ones behalf
Entrusting power and authority to another
How can you help people in your organization prepare for future leadership roles and
free up more time in your schedule so you can do other things? DELEGATION.
Delegation is the key to a successful organization. Sharing responsibilities keeps
members interested a
nd e
nthusiastic about the group. You might be relucta
nt todelegate because you want to make sure the job is done right (your way). They might
take longer to accomplish the task than you doing it yourself It will also help your
health while improving the quality of the end project. But you can make members feel
unimportant and become apathetic if you don't share the responsibility of making the
organization a success.
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Delegation
QuoteThe first rule of management is delegation. Don't try and do everything yourself
because you can't.
Anthea Turner
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Delegation - benefits
Group benefits:
o Members become more involved and committed
o More projects and activities are undertaken
o A greater chance that projects will be completed
o Increased opportunities for members to develop leadership skills
o More of a chance to fill leadership roles with qualified, experienced people
o The organizatio
noperates more smoothly
The leader benefits by:
o Not being spread too thin and therefore is less likely to burn out
o Gaining satisfaction seeing members grow and develop
o Acquiring more experience in executive and administrative functions
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Delegation - blocks
Why is delegation so hard for some people?-"My team members lack the experience."
-"It takes more time to explain than to do the job myself."
-"A mistake by a team member could be costly for my project."
-"My position enables me to get quicker action."
-"There are some things that I shouldn't delegate to anyone."
-"My team members are specialists and they lack the overall knowledge that many
of my decisions require."
ButI
think a
nother big reaso
ncomes dow
nto a deep i
nsecurity that ca
ninflue
ncehow you deal with those who work under you. Do you think a team member is after
your job? Or maybe you're afraid someone else will do the work better than you?
Sound like you? Well, you may be protecting your immediate status, but you're
hurting your opportunity to move up.
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Delegation 10 stages
Choose the appropriate people by interviewing and placing your members
carefully. Consider his/her time, interest and capabilities. Specific responsibilities to
be delegated to a particular person must be appropriate for the growth of that person
at that time.
Explain why they were selected for this task.
Delegate segments that make sense; not bits and pieces of a task, but share the
"big picture". People like to know how their segment will help the larger program.
Discuss the task at ha
nd. Discuss ideas; mutually set goals a
nd objectives.Whenever possible, give those who will be responsible for carrying out a program a
voice in the decision-making. Do not lower standards; don't insult your members!
Define clearly the responsibilities being delegated to each person. Explain what is
expected of them and what the bounds of authority are. Be sure agreement is
reached on areas where the person can function freely.
The end result is important, not the various steps. Everyone accomplishes tasks
differently.
Find out how you will know when they need help. Make sure they understand you
are willing to assist but must first be told when and how you can help. Give accurate
and honest feedback. People want and deserve to know how they are doing. This is
both an opportunity for giving satisfaction and encouraging growth. Allow for risk-
taking and mistakes.
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Delegation 10 stages
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Support your officers and committee chairs by sharing information,
knowledge and plans with them. It is incredible how many errors are made
simply due to a lack of information. Share in their failures as well as their
successes.
Delegate. Most responsible people do not appreciate someone looking over
their shoulder, or taking back parts of their assignment before they have a
chance to do it. As a leader, it can be hard for you to "let go;" you like being in
the drivers seat. Let them do the job! Delegating does not eliminate work, itsimply changes it. As you delegate appropriately, a multiplier effect occurs.
Follow up. Check periodically to see if people have any questions regarding
how a project is supposed to be done. This will also let you know how that
individual is progressing on the task. There is a fine line between delegating
and following-up.
Evaluate. You must not overlook the need to evaluate and measure the
extent to which actions conformed to plans, if the plans went well or if the
original plans were appropriate and worthwhile. Use appropriate feedbacktechniques. One of your most important roles as a leader is to help your
members to learn and grow through both their successes and their failures!
Your members are your greatest resource. Let them create and turn their
creativity into action!
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Organising people and teams - roles
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Plant
Resource Investigator
Coordinator
Shaper
Monitor Evaluator
Teamworker
Implementer
Completer Finisher
Specialist
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Time management
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http://www.youtube.com/watch?v=VHM3U2Fg9HM
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Time management benefits
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Efficient
Successful
Healthy
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Time management obstacles
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Unclear objectives
Disorganization
Inability to say no
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Time management obstacles
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Interruptions
More interruptions
Periods of inactivity
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Time management obstacles
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Too many things at once
Stress and fatigue
All work and no play
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Time management what can we do?
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Recognize that obstacles exist
Identify them
Employ strategies to overcome
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Time management set goals
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Specific
Measurable
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Time management - prioritise
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Do
Delegate Delay
Delete
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Time management learn to say no
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You cant do
everything
Dont undertake
things you cantcomplete
Remain consistent to
your goals
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Time management - use your waiting time
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On public transportation
At the doctors office
Waiting for your plane On hold
When you are early
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Time management use your waiting time
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Correspondence
Letters or memos
Books or tapes
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Time management what can we do?
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Focus on your goal
Tune out interruptions
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Time management celebrate success
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Time management - summary
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Set goals
Prioritize
Organize
Learn when to say NO
Use your waiting time
Concentrate on the task at hand
Consider your personal prime time
Celebrate success
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Time management what can we do?
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Time management - delegating work
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An Appropriate Time To Delegate Is When:
o There is a lot of work
o A member has particular qualifications for or interest in a task
o Someone can benefit from the responsibility
o Routine matters need attention
o Details take up too much time and have to be divided
The Time Not To Delegate Is When:
o The task is something you would not want to do (menial work)
o Someone is under qualified or overqualified for the task
o The work is your own specified responsibility
o The area is big or is an unsolved problem, issue or matter dealing with the
personal feelings of another or with confidentiality - the "hot potato"
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Time management ways to delegate
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Ways to Delegate:
o Ask for volunteers by a show of hands or passing a sign-up sheet. (Interest is a
great motivator!) However, this method can be impersonal and you could be "stuck"
ifno one signs up.
o Appoint or suggest someone. Sometimes a member lacks self-confidence andwon't volunteer; appointing him/her demonstrates your confidence in them.
o Assign through a committee. This takes the pressure off an individual and
reinforces organizational structure.
o The "best fit" of person with the task is the most effective. Try to spread the
en joyable and responsible tasks around, giving more members status and value.
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Mentoring and coaching
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What is a mentor IS?
Someone who knows the ropes and can help you figure them out, too
Someone who can maintain confidentiality
Someone who can help you in your career growth
Someone who can help you gain certain skills
Someone who helps from YOUR request, not someone who drags you along
What is a mentor NOT?
A counselor
Your boss
Someone who plans your career for you
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What me a mentor
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All graduate students are expected to mentor their junior colleagues theprofessional workplace is no different!
A good leader helps their team members perform to their full potential thinkabout how you can coach, or mentor, your peers.
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How canI coach?
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1. INQUIRE
Ask questions about your team members abilities or their objectives.Ask open-ended (not yes/no) questions.
2. CHECK IN
Listen to what the person says paraphrase as needed to show
that you hear what they are saying.
3. FEEDBACK (this is what you say in response)
Offer suggestions or share experiences.
It can be in the form of a question to get your colleague to think
about what they should do.
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Mentoring in summary
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Think about who youd like to emulateand why
Use formal and informal mentors to expand your network (up).
Look for opportunities to mentor or coach those around you good leadershipis valued and appreciated.
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What is stress?
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Is a state of tension experienced by individuals facing extraordinary demands,
constraints, or opportunities
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Types of stress?
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Constructive stress (eustress): is stress that acts in a possitive way for the individual
and/or the organisation.
Destructive stress (distress):is stress that acts in a dysfuctional way for the
individual and/or the organisation
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5OB-hilms
43
Sources of stress
Stressors: are things that cause stress ( for example: work, non-work and personal factors)
Non-Work factors:Family
Economics
Personal affairs
Personal Factors:Needs
Capabilitues
Personality
Work Factors:task demands
role dynamics
interpersonal relationships
career progress
Potential consequences
For the individual:
behavioral
psychological
medical problems
For the organisation:
decrease performance,
morale and motivation
increased turnover
and absenteeism
Job STRESS
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General adaption syndrome- GAS
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general: because stressors had an effects on
several areas of the body
adaptation: stimulation of defenses designed
to help the body adjust to or deal with
stressors
syndrome; indicates that individual pieces of
the reaction occur more or less together
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Stress management -what can we do?
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Stress management: is the ability to prevent or cope with stress and maintain wellness
Preventing or coping with stress:
Stress prevention involves taking action to prevent the emergence of stress
that becomes destructive.
Organisational programs:
empowerment and participation
job re-design
goal setting
communication
selection, placement, and training
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Time management what can we do?
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Personalwellness: Is the pursuit of your physical and mental potential through a personal health promotion program.
smoking
weight
diet
alcohol use
physical fi tness
Clinical programs:
diagnosis
treatment screening
prevention
Individual approach to Stress:
cognitive techniques: thought, expectations, beliefs, assumptions
Relaxation: peacefulness
Meditation
Biofeedback: usi ng computer
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Stress and teams
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Stress personal assessment
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The following are indicators that you may be
encountering stress:
General irritability
Elevated heart rate
Increased blood pressure
Anxiety-anxious feeling forno specific reason
Trembling
Insomnia
Headaches
Indigestion
Pain in neck and/ orlower back
Changes in appetite or sleep pattern
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Office politics
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Business politics
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http://socyberty.com/work/workplace-politics/
http://www.youtube.com/watch?v=--Z9yOEH6oQ playing positive politics
http://www.youtube.com/watch?v=_OYi3dvL4Ws ways to get ahead
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Strategic thinking
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//www.youtube.com/watch?v=R3Niq91bXqs
To raise the bar on your business performance, from where you are now, requires a
level ofStrategic Thinking which, in perfect tune with Visioning, creates a
structured and progressive way forward.
The best at Strategic Thinking...
Have a Vision
Make Time
Are Not Hasty
Absorb
Review Often
Learn from Experience
Use a Team
Are Realistic
Have Clear Milestones
Don't Judge
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Strategic planning
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Entrepreneurs and business managers are often so preoccupied with immediateissues that they lose sight of their ultimate objectives. That's why a business review
or preparation of a strategic plan is a virtual necessity. This may not be a recipe for
success, but without it a business is much more likely to fail. A sound plan should:
Serve as a framework for decisions or for securing support/approval.
Provide a basis for more detailed planning.
Explain the business to others in order to inform, motivate & involve.
Assist be
nchmarki
ng & performa
nce mo
nitori
ng.
Stimulate change and become building block fornext plan.
A strategic plan is not the same thing as an operational plan. The former should be
visionary, conceptual and directional in contrast to an operational plan which is likely
to be shorter term, tactical, focused, implementable and measurable. As an
example, compare the process of planning a vacation (where, when, duration,
budget, who goes, how travel are all strategic issues) with the final preparations
(tasks, deadlines, funding, weather, packing, transport and so on are all operationalmatters).
A satisfactory strategic plan must be realistic and attainable so as to allow
managers and entrepreneurs to think strategically and act operationally.
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Strategic plan key steps
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The preparation of a strategic plan is a multi-step process covering vision, mission,
objectives, values, strategies, goals and programs. These are discussed below.
The Vision
The Mission
The Values
The Objectives
The Strategies
The Goals
The Programs
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Strategic planning tools
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Statements on vision, mission, objectives, values, strategies and goals are not just
elements of future planning. They also provide benchmarks for a historic review.
Most managers will find it exceedingly difficult to develop a future strategy for a
business without knowing its current strategies and measuring their success to date.
Assess Current Position
The starting point must be to determine a company's existing (implicit or explicit)
vision, mission, objectives and strategies. Then judge these against actual
performance along the following lines:
DrillDown
A useful technique for exploring performance shortfalls is to review the business's
financial return and to drill down through the components of this return to locate and
assess the key determinants of performance. For example, return on shareholders'
funds is a key measure of profitability which can be expressed as:
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Vision values and culture
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Vision
It can be said that each and every company has their own vision, mission and
values. The vision, mission and values formulated by every industry can be considered
as distinct and unique and depends on the purpose of the company. However, it is said
that the vision, mission and values should be common to all the members of the
organisation.
In starting up a business or transforming a certain aspect of the business sector, one of
the first elements to consider is to set up a vision which will serve as guidelines for the
business or the changes that will be done. Herein, the management of the organisation
starts by knowing the position of the business today and where the business would be in
the future. The management paints a vision statement for the business. In order to
establish an industry which can drive innovation and thrive through transformation, the
leader must start with a clear goal for every stakeholder to aim at (Jonash &
Sommerlatte 1999).
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Vision values and culture
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Part of the role of the management is to ensure that the company has been able to
set up a vision, mission and value which will serve as guidelines to achieve
organisational goal. It is said that the vision, mission and values has their own
function and importance but share a common ground. Accordingly, each element is
worth doing only if it is done right. The vision, mission and value have its own
significance within the organisation. The vision is done to ensure that the company
has a framework on how to provide their services and to whom it will be provided
and to anticipate the future of the organisation. On the other hand, the mission aims on giving the organisation a set of guidelines
which will enable the management, employees and other stakeholder to determine
the purpose of the organisation and how the organisation perceived to meet such
purpose. And lastly, value is defined within an organisation to have a guiding path
for every action and activities that the organisation will do. Values are created to
ensure that the mission and vision will be achieved correctly and in rightful
manner. All in all, it can be said that Hong Kong Special Administrative Region
Immigration Department has been able to develop an effective vision, mission andorganisational values. Through these, the organisation has been able to deliver
quality service and adhere to their goal of being an organisation that provides
effective and efficient immigration-related services not only in HK but also in the
global market.
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Vision values and culture
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Values
Aside from the development of shared vision and mission statement, an organisation
must also consider the importance of having organisational values. Values are linked to
attitudes in that a value serves as a way of organising. Values are defined as the
constellation of likes, dislikes, viewpoints, should, inner inclinations, rational and
irrational judgments, prejudices, and association patterns that determine a persons vieof
the world (Allcorn, 1995).
In addition, it is widely recognised that the organisational values relatively affect the way
organisation perceived and treat their target market, the way their human resources and
their contributions are seen and rewarded and the way in which the future of the
company is anticipated and managed. Hence, it can be said that the organisational
values plays a crucial role for the success of the organisation. Study shows that there
are organisational values which were closely related to business performance and
competitiveness in the market scene (Blanchard & OConnor, 1997).
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Organisational culture
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Basically, organizational culture is the personality of the organization. Culture is
comprised of the assumptions, values, norms and tangible signs (artefacts) of
organization members and their behaviours. Members of an organization soon
come to sense the particular culture of an organization. Culture is one of those
terms that are difficult to express distinctly, but everyone knows it when they sense
it. For example, the culture of a large, for-profit corporation is quite different than
that of a hospital which is quite different that of a university. You can tell the culture
of an organization by looking at the arrangement of furniture, what they brag about,what members wear, etc. -- similar to what you can use to get a feeling about
someone's personality.
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Types of organisational culture
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Academy Culture
Employees are highly skilled and tend to stay in the organization, while working their
way up the ranks. The organizations provide a stable environment in which
employees can development and exercise their skills. Examples are universities,
hospitals, large corporations, etc.
Baseball Team Culture
Employees are "free age
nts" who have highly prized skills. They are i
nhigh dema
ndand can rather easily get jobs elsewhere. This type of culture exists in fast-paced,
high-risk organizations, such as investment banking, advertising, etc.
Club Culture
The most important requirement for employees in this culture is to fit into the group.
Usually employees start at the bottom and stay with the organization. The
organization promotes from within and highly values seniority. Examples are the
military, some law firms, etc.
Fortress Culture Employees don't know if they'll be laid off ornot. These organizations often undergo
massive reorganization. There are many opportunities for those with timely,
specialized skills. Examples are savings and loans, large car companies, etc.
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Thank You
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