Management outlook and procedures have been revolutionized by more and more innovations over the recent years. It is no longer possible to follow traditional approaches to develop your organization's direction, its management as well its effectiveness. Senior managers need to be good decision-makers. In this section, we introduce concepts for strategy, strategic planning, strategic leadership, their exact meaning and associated terms, and how to use them.
Leaders need to motivate and influence their employees with their thought leadership, but many lack knowledge of the concepts, tools, and frameworks that are most helpful in thinking strategically. This section will give you a practical but rigorous foundation of frameworks and tools to help you be a more effective participant in strategic decision making.
You have undoubtedly heard the word strategy and perhaps know a bit about the concept of strategic planning. These have become important parts of management vocabulary and thinking. The word strategy is derived from the Greek word “strategtia” meaning "generalship" which was used first around 400 B.C. The army general organizes and uses his troops for military action. It is this deployment of troops and soldiers that is the basic meaning of the word.
The dictionary meaning of strategy is, “the art of so moving or disposing of the instrument of warfare as to impose upon the enemy, the place time and conditions for fighting by oneself.”
This connotes the art and science of directing military forces. In business parlance, there is no definite meaning assigned to strategy. However, in an organizational context strategy relates to the science or the art of identifying and applying your human and physical resources and carefully preparing for attaining the future goals you have set for your organization.
The strategy is to create a unified, comprehensive, and integrated plan to ensure the achievement of basic objectives through the proper implementation process. The strategy is in fact a plan or course of action or a set of decision rules which are based on policies, objectives, and goals and targeted at moving an organization from its current position to a desired future state. Challenges of the current environment are evaluated to find strategic advantage out of them and strategy also defined the requisite resources that are needed to implement a plan.
A good strategy is one that helps in the accomplishment of the organization’s objectives. The top management of an organization is concerned with the selection of a course of action from among different alternatives to meet the organizational objectives. The process by which objectives are formulated and achieved is known as strategic management and strategy act as the means to achieve the objective. A few aspects regarding the nature of strategy in the organization context is as follows:
Team Development by Building Trust
As your team begins to work together, you need to establish a way each team member can exchange ideas and build mutual trust. Successful groups are built on trust and collaboration. A free exchange of ideas, in an open environment, will allow your team to get to know each other and enable you to check on how they work together. Learn some tips to help build team trust and establish personal bonds.
In today's business world, proficiency in management skills is essential for career growth and success. Managerial skills can be defined as attributes or abilities that are essential for every leader and manager to succeed and fulfill specific tasks expected from them by the organization.
Tools for Developing Your Team
If a manager has too many weak spots in the talent of the team, the ability to empower the team members to independently execute the project is impaired. Assignments fall behind schedule or stretch out because the needed skills or knowledge are not in place when needed. To successfully execute important projects, hiring talented people, and increasing the talents of existing staff are most important.
Navigating your career journey will hopefully include a series of experiences that challenge your skills and abilities in ways that are satisfying and rewarding. Only you can manage your career. That means you must determine what things you are passionate about, what your goals are, both professionally and personally, and how much energy you are willing to invest along the way. Learn how to build an effective career path framework for yourself.
Building Your Domain Knowledge
Domain knowledge from a career management perspective encompasses the understanding of industry dynamics and business processes of the target operational area. Domain expert exhibits clear knowledge in the respective industry and understands the industry concepts in general. It is always recommended to best highlight your exposure of domain in your resume or cover letter. TechnoFunc provides you with the best tutorials to gain domain knowledge in a large number of industries and business areas.
Reasons behind Wastage of Time
Under-utilization of time may be due to the faulty system or faults of manager/officer/leader or due to lack of planning. There could be many factors driving the procrastination behavior like system issues, personal work habits, and lack of delegation, personality traits, and bad working habits of the leader, failure to tackle interpersonal conflicts, obstacles, and lack of far-sightedness.
In our present Hitech scenario, society is changing very fast. What are the skills that are most relevant for leaders in relation to the changing economic environment? Leaders need to develop skills to drive innovation and change in order to play a more central role in their organizations’ activities. How do managers accept the change and meet business expectations by becoming a key figure in driving change and innovation?
Evaluating Your Career Interests
Want to find out what you are best at when it comes to proactively building your career? What are your real interests? The first step in career planning is reflecting. Reflecting upon your own self, to be more self-aware, and then following your dreams with both your heart and mind. Here is an opportunity to begin exploring yourself. At the end of the process, you will have a far better understanding of your desires than you have currently.
The best career choices are ones that match your values. Each person has several values that are important to him. These values are highly personal and knowing them provides a clearer sense of what's most important to you in your life and career. Career values are the beliefs you consider important from a work standpoint. Values help you understand what you want from a job? Explore a few examples of work values that can influence career path and job satisfaction.
At different points in your professional career, it is helpful to identify your core values. Values are the qualities considered to be the most important guiding principles that determine the priorities in your life and greatly influence your career choices. Your career brings happiness when it is in agreement with the beliefs you have about what is important and meaningful to you. Awareness of your values will help you develop a clearer sense of what's most important to you in life.
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