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:
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?
How often do you have a plan for how you are going to spend your day but you aren't able to complete the tasks on your plan because of unimportant tasks, interruptions, or your own procrastination? Wouldn't it be great to be able to manage your schedule and your time while avoiding, or at least controlling, these time stealers? Learn the strategies to manage your schedule while still handling interruptions and demands on your time.
Recognizing Stress & its Sources
As an individual, you almost certainly know what stress feels like. Stressors are events or situations to which people must adjust. Stressors may be physical or psychological in nature. The level of severity of stress is determined not merely by exposure but the intensity, duration, and frequency of stressors. The sources of stress are many. They arise from multiple areas both with the individual and from the environment.
Importance of Technical Skills
Today’s business environment is complex and changing at a fast pace. Tough business problems require technical expertise to create cost-effective & sustainable solutions. All industries need some kind of technical skills to accomplish complex actions, tasks, and processes relating to computational and physical technology as well as a diverse group of other enterprises. The acquisition of advanced technical skills requires specific education certification or training, often with practical hands-on learning.
Stress is an essential part of our life. No one can live without stress. Stress can be beneficial as well as harmful. Stress as a positive influence adds excitement and hope while as a negative influence it can result in destructive feelings, anger, and depression. Although the general orientation to stress is to consider unfavorable outcomes, yet one must have observed that stress experiences may also facilitate the development of effective and varied coping behavior, increased personal resources, and lead to a sense of competence in development. Stress at a moderate level is not only inevitable but may be useful for physical and mental well-being.
What are some of the smartest things you can do in your early career that can help you become successful? The more you challenge yourself early on and gain a multitude of experiences and skills, the more successful you'll become down the road. In this article, we have compiled our best career advice including tips from career and recruitment experts. Here are some important tips to keep in mind as you plan your education and training, your career, and your life.
Time management is the process of planning and exercising conscious control of time spent on specific activities, especially to increase effectiveness, efficiency, and productivity. The best time management techniques improve the ways you work. Time management refers to managing time effectively so that the right time is allocated to the right activity. Learn more about the five steps for effective time management viz. study, identify, analyze, decide, and implement.
Guide to Technical Leadership Skills
Technical leaders care about building amazing products and the best technical capabilities in their teams. Everything they do is focused on improving the user experience and bringing competitive advantage for their organization. Learn the skills and competencies you need to build a technical career path for yourself that starts with building technical expertise and grows into developing technical leadership.
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 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.
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