Unformatted text preview: * * * MAKING BUSINESS WORK SESSION 19 * * * SESSION 19 GOALS AND OBJECTIVES To examine the issues and challenges of managing human capital. Lecture Materials: Text Chapters 7 & 10 7-2 * * * SO LET'S TALK ABOUT PREVIOUS SESSIONS AND MATERIAL! ANY QUESTIONS?
7-3 * * * LET'S TALK CURRENT EVENTS (WSJ) 7-4 * * * Let's Talk Human Resource Management Chapter 7 7-5 * * * Kemp's Insight: "Managing human capital (people) is a lot harder than managing real capital and financial capital!" "Mr. Kempism" 7-6 * * * POINT! Realize that there is a difference between being a good doer and being a manager of good doers!
7-7 * * * New Management Roles Skilled communicator Team player and a planner Coordinator Organizer Supervisor
7-8 * * * Managing for the Future
1. 2. 3. 4. 5. 6. 7. 8. Prepare for the unexpected Faster reaction times Flatter structure Build teams Grow globally Develop cultural sensitivity Invest in technology Develop a family work atmosphere 9. Create vision 10. Enhance competencies
7-9 * * * Management Functions Planning Organizing Leading Controlling 7-10 * * * Planning: Create Vision Set Vision, Goals, Objectives Vision and Mission Why Organization Exists, Purpose of Organization Goals Broad, LongTerm
7-11 Objectives Specific, Short-Term Continuous Process (SWOT) * * * Question: What is your competitive advantage, and is it sustainable? 7-12 * * * Questions of Planning
1. What is the situation now?
Where do we want to go? 1. How can we get there from here? Strategic Planning Tactical Planning Operational Planning Contingency Planning 7-13 * * * SWOT Analysis
Potential Internal STRENGTHS Potential Internal WEAKNESSES Potential External OPPORTUNITIES Potential External THREATS 7-14 * * * Let's Do a SWOT Analysis for: Microsoft US Airways Dominion Resources
7-15 * * * Planning Functions 7-16 * * * Decision Making: Steps
1. Define 1. Define 7. Determine 7. Determine Decision Decision Making Making 2. Describe 2. Describe 6. Do 6. Do 3. Develop 3. Develop Alternatives Alternatives 5. Decide 5. Decide 4. Develop 4. Develop Agreements Agreements
7-17 * * * Organizing Skills/Tasks Stakeholders Staffing 7-18 * * * Management Pyramid
President, Division Heads, Plant Mgrs. Vice Pres.
Top Top Management Management Middle Management Middle Management Employees
Supervisory (First-Line) Supervisory (First-Line) Foreman, Dept Heads Non-supervisory Non-supervisory
7-19 * * * Required Management Skills Technical Skills Human Relations Skills Conceptual Skills
7-20 * * * Is It Difficult to be a Leader Today?
Less Challenging (1%) Don't Know (1%) No Change (9%) More Challenging (89%)
Source: USA Today 7-21 * * * Successful Leadership Communicate a Vision Establish Corporate Values Promote Corporate Ethics Embrace Change
7-22 * * * Leadership Styles Autocratic Participative (Democratic) Free-rein
7-23 * * * Four Leadership Types Rationalists Politicists Humanists Culturists Source: CIO Nov 2003 7-24 * * * Autocratic Leadership
Making managerial decisions without consulting others 7-25 * * * Participative Leadership Democratic Managers and employees working together to make decisions
7-26 * * * Free-rein Leadership Managers set objectives Employees are relatively free to do whatever it takes to accomplish those objectives
7-27 * * * Empowering Employees Empowerment: Giving employees the authority and responsibility to make decisions. Enabling: Giving workers the education tools needed to make decisions.
7-28 * * * Manager's Empowerment Checklist TARGET TOOLS TRAINING TIME TRUTH TRACKING TOUCH TRUST Source: Empowerment Checklist, Cathcart Institute, 2004, www.cathcart.com. 7-29 * * * Knowledge Management Do you want to know What do I still not more about your know? customers? What about competition? What information would make the company more effective in the marketplace?
7-30 Whom should I be asking? * * * Controlling
Feedback Are standards realistic? 1. Establish clear standards 5. If needed, take corrective action 2. Monitor and record performance 4. Communicate results 3. Compare results against standards 7-31 * * * Are You a Micromanager? Do you have strategic initiatives that you have not addressed? Do you often check on your employees for quality control? Do you often check on your subordinates throughout the day? Do you seldom take a vacation? Is there a lot of turnover?
Did you answer YES to any question?
Source: CFO May 2005 7-32 * * * Most Critical Trends, Management Concerns
Globalization Improving Knowledge Management Cost and Cycle Time Reduction Improving Global Supply Chains Manufacturing at Multiple Locations and in Many Countries Managing More Part-time, Temporary and Contract Workers
Source: Quality Digest 2004 7-33 * * * Let's Talk Titles in The World of Today
CEO Chief Executive Officer CFO Chief Financial officer COO Chief Operating Officer CIO Chief information Officer CMO Chief Marketing Officer C_O Chief ??????? (e.g., risk) Chairman (or person) President Others..................... 7-34 * * * Let's Talk More Human Resource Management Chapter 10 7-35 * * * LET'S TALK: MANAGING PEOPLE 10-36 * * * What is Human Resource Management? Human resource management is the process of determining human resource needs and then recruiting, selecting, developing, motivating, evaluating, compensating, and scheduling employees to achieve organizational goals." (via text) 10-37 * * * Intrinsic vs. Extrinsic Rewards
Recognition Promotions Extrinsic = Outside
Intrinsic = Inside Praise Salary Increase Status Feeling of Job Well Done Pride Gifts Sense of Achievement 10-38 * * * Most Commonly Used Extrinsic Rewards
Credit/ Debit Card Use Time Off Job I ndividual Travel Merchandise Aw ards Gift Certificates Cash Aw ards 0%
Source: Incentive Federation 10% 20% 30% 40% 50% 60% 70% 10-39 * * * Evolution of Human Relations Management Concepts
Scientific Taylor Gantt Gilbreths Behavioral Mayo Maslow Herzberg McGregor Ouchi Vroom 10-40 * * * Hawthorne studies Conducted by Elton Mayo (1927-1933) First Experiment: Determine if lighting was a factor in productivity. Next Experiments: Determine if other factors affected productivity. These studies encouraged the study of human motivation.
10-41 * * * Maslow's Hierarchy of Needs
Self Actualization Esteem Needs Social Needs Safety Needs Physiological Needs
10-42 Satisfied * * * Herzberg's Theory Figure 10.5 Comparison of Maslow and Herzberg 10-43 * * * How to Develop the Truly Loyal Employee?
1. 2. 3. 4. 5. Care for workers Fairness of pay and evaluations Accomplishment feeling Satisfaction with daily activities Appreciation of ideas Source: CIO, October 1, 2003 10-44 * * * Job-Oriented Motivational Techniques Job Enrichment/Redesign
Skill Variety Task Identity/Significance Autonomy Feedback Job Simplification Job Enlargement Job Rotation
10-45 * * * McGregor's Theories
Theory X- Autocratic Dislike Work Avoid Responsibility Little Ambition Force/Control/ Direct/Threaten Motivated by Fear & Money Theory Y- Democratic Like Work Naturally Works Toward Goals Seeks Responsibility Imaginative, Creative, Clever Motivated by Empowerment
10-46 * * *
1. 2. 3. 4. 5. 6. 7. Ouchi's Theory Z
Long-Term Employment Collective Decision-making Individual Responsibility Slow Evaluation/ Promotion Implicit Informal Control with Explicit, Formalized Control Specialized Career Path Holistic Concern for Employees 10-47 * * * Goal-Setting Theory (MBO) Peter Drucker Management By Objective Goal-Setting Theory Management By Objectives (1960s) 10-48 * * * Impact of Mentors
8% 1% 46%
Great Moderate Small Little/None 45% Source: USA Today 10-49 * * * Employee-Oriented Motivational Techniques Expectancy Theory Reinforcement Theory Equity Theory
10-50 * * *
Expectancy Theory: Employee Questions Can I accomplish the task? If I do accomplish it, what is my reward? Is the reward worth the effort? 10-51 * * * Steps to Improve Performance
1. Determine Rewards Valued 2. Determine Standards 3. Ensure Standards are Attainable 4. Tie Rewards to Performance 5. Are Rewards Considered Adequate?
10-52 * * * Teamwork & Open Communication Create culture that rewards listening Train supervisors and managers to listen Remove barriers to open communication
10-53 Actively undertake efforts to facilitate communication * * * Building Quality into Teams Getting Started Initial Phases Team Building Mutual Coaching Statistics Projects Building Quality Role Change
Source: www.see.ed.ac.uk 10-54 * * * High Performance Teams
1. 2. 3. 4. 5. 6. 7. 8. Participative Leadership Responsive Aligned on Purpose Communicative Task Focused Problem Solving Shared Responsibility Innovative
10-55 Source: International Cyber Business Services, Inc. * * * Tips for Motivating Employees 1. Thank employees for good job 2. Listen to employees 3. Give feedback 4. Give rewards 5. Keep them informed 6. Allow for input 7. Training opportunities 8. Remember important dates 9. Have and abide by policies 10. Celebrate goal accomplishment
Source: Allfoodbusiness.com 10-56 * * * Warning Signs of Employee Stress Drops in productivity Chronic lateness Absenteeism Careless with details Unable to work with others Negative attitudes about work Withdrawal from co-workers Easily upset/angered
Source: uteaxas.edu 10-57 * * * How Stressed Are You? Rate 1-5
1) Conditions at work are unpleasant or sometimes even unsafe. 2) I feel that my job is making me physically or emotionally sick. 3) I have too much work or too many unreasonable deadlines. 4) I can't express my opinions or feelings about my job to my boss. 5) My work interferes with my family or personal life. 6) I have no control over my life at work. 7) My good performance goes unrecognized and unrewarded. 8) My talents are underutilized. 10-58 * * * SESSION 19 GOALS AND OBJECTIVES To examine the issues and challenges of managing human capital. Lecture Materials: Text Chapters 10 & 11 10-59 * * * QUESTIONS? 10-60 * * * LET'S TALK ABOUT YOUR NEXT CLASS!
Mr. Kemp * * * SESSION 19 GOALS AND OBJECTIVES To examine the issues and challenges of managing human capital. Lecture Materials: Text Chapters 7& 10 7-62 * * * SEE YOU NEXT CLASS!
Mr. Kemp ...
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