...established financial institution. Seylan soon became a well known brand in the industry with rapid growth and paying the highest interest returns to depositors. As per the company’s ‘The Case Study’ (2009) report, in its first partial year of operations, Seylan reported an after tax profit of Rs. 11.3 Million ending at 31st December 1988. Over the next 17 years, the Bank grew at an unprecedented pace, with assets totaling Rs. 113.6 Billion by the end of 2005. Profits in the same period fluctuated to some degree but followed the same overall rapid trajectory, reaching Rs. 687 Million (after taxes) in the 2005 financial year. Signs of mismanagement: Sri Lanka’s banking industry was already competitive when Seylan bank came to being. The then management was over-ambitious and had a...
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...objective of this Management Aptitude Questionnaire was to identify your present level of management skills and to see what level of management would best suit your personality. You will learn the difference in the three categories of management skills and to identify the position that potential managers would likely be fit for. There are three levels of managers which are Top Managers, Middle Managers, and First-Line managers. All managers must have three necessary skills in order to be effective and efficient in and organization which are Conceptual skills, Human skills, and Technical skills. The top-level managers require more conceptual skills and less technical skills. The lower-level managers require more technical skills and less conceptual skills, and all managers require a high level of human skills in an organization because they all have to interact with people. “Many managers get promoted to their first management jobs by having excellent technical skills. However, technical skills become less important than human and conceptual skills as managers move up the hierarchy” (Daft, 2012, p.11). Human skill should be the most important in an organization to avoid a high employee turnover due to poor communication, coordination and motivation techniques. Results The results were: Conceptual skills total score = 28 points Human skills total score = 22 points Technical skills total score = 15 points The results showed a higher total for conceptual skills followed by...
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...LECTURE ONE Management and Organization Learning Outcomes • Explain why managers are important to organizations • Tell who managers are and where they work • Describe the functions, roles, and skills of managers • Describe the factors that are reshaping and redefining the manager’s job Why are Managers Important? • Organizations need their managerial skills and abilities more than ever in these uncertain, complex, and chaotic times. • Managerial skills and abilities are critical in getting things done. • The quality of the employee/supervisor relationship is the most important variable in productivity and loyalty. Who is the manager? • “Tim Carver is a sales manager. He was promoted to this position four months ago. Tim spends four days a week on the road calling on customers and helping his people sell. During this time his secretary runs the office. On Friday Tim returns and works on problems that have come up during the week. “ • Is Tim a manager? Who is the manager? • “Mary carren is an associate administrator at a local hospital. Mary spends approximately 20 percent of her day working with administrator, 40 percent handling administrative paperwork, and 40 percent meeting with department heads to discuss operational problems and ways of dealing with them. Except for the occasional times when she attends national professional meetings or training programs, Mary’s time is spent at the hospital. “ ...
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...Perry Barton Principle of Management MGMT 1100 By: Hillary D. Wooden Date: October 8, 2012 In the retail industry there are many different managers with different personalities. When you think of managers in the retail industry, you picture an older adult that has worked with the company for 20-30 years. Companies now have seen that having older adults is more of a liability than an asset. Having older adults as managers can have some pros but sometimes there are cons. After talking to different managers within my company, I have came to the conclusion that many companies are looking into hiring younger adults to fill their manager positions and younger workers to fill associates positions. After doing my research and talking to different managers within my company I have come up with different pros and cons of being a young adult manager in the retail industry. Pros of being a young adult manager in the retail industry are having good planning, leading, human, and technical skills. Cons of being a young adult manager in the retail industry are being less organized, less controlling, non-conceptual, and sometimes lacking motivation to manage skills. In the following paper I will be discussing in more detail the reasons for these pros and cons. One of the first pros of being a young adult manager in the retail industry is having good planning skills. Planning is determining organizational...
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...Management Skills A skill is an acquired and learned ability to translate knowledge into performance. It is the competency that allows for performance to be superior in the field in which the worker has the required skill. All managers need to possess technical, interpersonal, conceptual, diagnostic, communicational and political skills. While technical and diagnostic skills refer to the knowledge and ability of understanding the processes involved and scientifically analyzing problems and opportunities, all other skills deal with people in one form or the other. These “human” skills are the most important assets of any successful manager. It is the manager’s job to achieve the organizational objectives through the proper utilization of its human and material resources. However, since the material resources of equipment, capital, facilities, and information and so on can only be used by humans, the human resources are the most valuable assets of any organization. Accordingly, a manager must be highly skilled in the art of optimally utilizing the human resources. This art is universal in nature. In every walk of life, human skills are necessary for success. These various skills are briefly explained as follows: Technical Skills: These skills basically involve the use of knowledge, methods and techniques in performing a job effectively. This is a specialized knowledge and expertise which is utilized in dealing with daytoday problems and activities. For example, engineers, accountants...
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...MANAGERIAL SKILLS A skill is an acquired and learned ability to translate knowledge into performance. It is the competency that allows for performance to be superior in the field in which the worker has the required skill. All managers need to possess technical, interpersonal, conceptual, diagnostic, communicational and political skills. While technical and diagnostic skills refer to the knowledge and ability of understanding the processes involved and scientifically analyzing problems and opportunities, all other skills deal with people in one form or the other. These “human” skills are the most important assets of any successful manager. It is the manager’s job to achieve the organizational objectives through the proper utilization of its human and material resources. However, since the material resources of equipment, capital, facilities, and information and so on can only be used by humans, the human resources are the most valuable assets of any organization. Accordingly, a manager must be highly skilled in the art of optimally utilizing the human resources. This art is universal in nature. In every walk of life, human skills are necessary for success. These various skills are briefly explained as follows: Technical Skills: These skills basically involve the use of knowledge, methods and techniques in performing a job effectively. This is a specialized knowledge and expertise which is utilized in dealing with day-to-day problems and activities. For example, engineers...
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...University Regulations on cheating, plagiarism and collusion. I declare that this piece of work is my own and does not contain any unacknowledged work from any other sources. I authorise the University to test any work submitted by me, using text comparison software, for instances of plagiarism. I understand this will involve the University or its contractor copying my work and storing it on a database to be used in future to test work submitted by others. Note: The attachment of this statement on any electronically submitted assignments will be deemed to have the same authority as a signed statement. Signed: | Date: | Junleong: What are the most important management skills Tony Hsieh practices in successfully leading his team at Zappos? The very first significant management skill that Tony Hsieh...
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...Jesseca Hughes Chapter 1 1. Management is directing other people to work as a team to accomplish one desired goal. It’s hard to grow and maintain a business without management. A manager’s job isn’t to do the work that has to be done, it’s to help their employees stay on task and efficiently accomplish their goal for the company. 2. To be a successful manager, there are five functions you need to perform. Planning is the first important function. Managers need to be able to plan what their goals are and how to fulfill that task as efficiently as possible. Being organized is another important function, deciding who will do what and when it needs to be done is essential in completing their desired goal. Another function managers need is leadership, being able to motivate and inspire others to work hard is very important to help achieve their tasks. Controlling is the last function of management, managers need to set certain standards for their employees. They compare how that employee’s performance is and if their measurement doesn’t meet the managers’ standards, they have to make changes to accomplish the goal efficiently. 3. A company needs different kinds of managers, each having different responsibilities and doing different jobs. Top managers such as Chief Executive Officers (CEOs), Chief Operating Officers (COOs), Chief Financial Officers (CFOs), and Chief Information Officers (CIOs) are responsible for monitoring their business environments and...
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...EPG SHRM Foundation’s Effective Practice Guidelines Series Building a High-Performance Culture: A Fresh Look at Performance Management By Elaine D. Pulakos, Rose A. Mueller-Hanson, Ryan S. O’Leary, and Michael M. Meyrowitz Sponsored by Halogen Building a High-Performance Culture: A Fresh Look at Performance Management This publication is designed to provide accurate and authoritative information regarding the subject matter covered. Neither the publisher nor the author is engaged in rendering legal or other professional service. If legal advice or other expert assistance is required, the services of a competent, licensed professional should be sought. Any federal and state laws discussed in this book are subject to frequent revision and interpretation by amendments or judicial revisions that may significantly affect employer or employee rights and obligations. Readers are encouraged to seek legal counsel regarding specific policies and practices in their organizations. This book is published by the SHRM Foundation, an affiliate of the Society for Human Resource Management (SHRM©). The interpretations, conclusions and recommendations in this book are those of the author and do not necessarily represent those of the SHRM Foundation. ©2012 SHRM Foundation. All rights reserved. Printed in the United States of America. This publication may not be reproduced, stored in a retrieval system or transmitted in whole or in part, in any form or by any means...
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...issues are that people are talking about today. Let’s start with interpersonal skills. Practicing managers have long understood the importance of people skills for organizational success in today’s competitive and demanding workplace. Who do we mean by managers? Managers get things done through other people. They do it by planning, organizing, leading, and controlling. Managers also fill interpersonal roles, such as being a leader, a liaison, or a figurehead. They serve in informational roles such as monitor, disseminator of information, or spokesperson. Finally, in their role as decision maker they might be entrepreneur, disturbance handler, resource allocator, and negotiator. All these roles are important to the functioning of the organization and its people. Who’s the best manager you’ve ever known? Think about the special skills that helped this person to be effective. Researcher Robert Katz has identified three essential sets of management skills. The first set includes technical skills, the ability to apply specialized knowledge or expertise. Did your best manager have technical skills? Second are human skills, or the ability to listen, understand the needs of others, and manage conflicts. How did your best manager demonstrate these human skills? Finally, conceptual skills include the ability to analyze and diagnose complex situations. Did your manager have conceptual skills? To learn more about...
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...number of aspects of business management using a successful existing company. This report is based on a one of the world’s leading Information and Communication technologies company-Fujitsu LTD. The report includes a brief introduction of Fujitsu, to get more familiar with the company, its approach and activities. The report also includes an environmental analysis (SWOT), to see what are the strengths and weaknesses of Fujitsu LTD., and what opportunities and threats is the company facing. The research investigates 3 organisational goals that are planned to be reached in future and cascades the through the various business departments and levels-finance, marketing, human resources and operations. In this report we examine three different plans that Fujitsu has implemented over the past five years. From the research we observed that Fujitsu uses its own management philosophy, called Fujitsu way and we examined this approach through various points. In the report we reviewed how conceptual, human and technical skills are used in Fujitsu. We also considered how staff should be motivated in Fujitsu in order to reach the overall organizational goals. We conducted our research using various resources, such as ITB Library, Business Sources Premium and Emerald databases, Company’s website and Internet. Table of Contents Executive Summary i Table of Figures iv Table of Tables iv Introduction 1 Fujitsu Products and Services: 1 Fujitsu Management 2 SWOT 3 Strenghts 3 ...
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...Journal of International Development J. Int. Dev. 22, 890–905 (2010) Published online 12 November 2009 in Wiley Online Library (wileyonlinelibrary.com) DOI: 10.1002/jid.1639 MANAGEMENT OF MICROFINANCE INSTITUTIONS: DO SUBSIDIES MATTER? MAREK HUDON* ´ libre de Bruxelles, Belgium and Burgundy School of Business, France CERMi, Universite Abstract: It is estimated that donors commit between US$ 800 million and US$ 1 billion to microfinance per year. This paper analyses the management of microfinance institutions (MFIs) and its relationship with donors’ subsidies. The results show that the level of subsidies granted per year is related to the management quality but not the subsidies divided by the gross loan portfolio or the total equity. Well-managed MFIs are larger and regulated organisations but not significantly older. The organisational structure or the experience of the MFI however does not play a role in determining its financial effectiveness, except for cooperatives. Copyright # 2009 John Wiley & Sons, Ltd. Keywords: microfinance; subsidies; management; governance; nonprofit JEL Classification: L31; M54; O16; Q14 1 INTRODUCTION Formal financial institutions have neglected a large part of developing country populations. Considered as high-risk clients, the poor have been denied access to financial services. Microfinance has been praised during the last twenty years as a new development policy tool serving people who have been excluded from the formal banking system. The...
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...managers need leadership skills, but not all effective leaders need management skills. To be good mangers need leadership skills as well as managerial skills both skills are necessarily for the organizational management. What is leadership? When people think of leaders, mostly mean politic leader like Churchill, Hitler, Morgan, Nikson and so on but now in the 2010; leaders concern and involve in the business and organization roles rather than the politician who tend to be at the top of the country or militaries owing to presently it is said that we are in the globalization era which technology and communication such as iphone, facebook, twister etc. become socially involved in life, more necessary and affordable. So the leaders play roles differently, however, much more important in the business world in the manager’s roles. Shackleton (1996) described about leadership definitions involves three components: influence, group and goal. First, leaders are who influence the behavior of others. Secondly examine in the context of a group, work group such as managers and their terms or foremen and their subordinates. Last, leadership stresses a group goal that has to be accomplished. Leadership is the process in which influences other group members towards the attainment of group or organizational goals. Leaders may influence followers, but followers influence leaders to lead in one way rather than other. Leadership and management It is mentioned that Leadership is about...
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...Mark Steckle seem to lack in management skill are the collaboration skill or human skills. Collaboration skill or human skill is essential skill to building strong relationship with the rest of the colleagues and provides solution to problem occurred. Being as a middle level management it is important to have collaboration skill as one man army will not take you anywhere, manager however still need to depends on others’ cooperation to maintain the position or do better in the firm. Having a good relationship will help the management level to reduce conflicts with the others. Mark is clearly setting a barriers to keep a distance from the rest as he is business minded with a purpose of bringing profits to the company and get recognition from Mr Teddy.K, CEO of Globecom organization. Besides that, Mark did not provide any solution or strategic plan to the company to keep the company improve. Middle management levels are required to provide a strategic and develop plan for the company and help the team to achieve the goal and result in better product or services performance. Besides that Mark Steckle is unable to provide motivation to the rest of the team. Motivation is define giving positive feedback to the employees of their contribution for the company. Motivation play a main key to keep the organization going as it is maintaining the employees to stay happy and self-fulfillment as their performance had paid off. Or in other perspective, management level able to motivate the...
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...Kristian Kenn D Limsipson BSBA-BM 1A PRINCIPLES OF MANAGEMENT Management in businesses and organizations is the function that coordinates the efforts of people to accomplish goals and objectives using available resources efficiently and effectively. Management is the act or skill of controlling and making decisions about a business. Management is the way of something is handled, careful treatment, supervising skills, or those in charge of a business or a group. Manager a person who controls the activities, business dealings and other aspects of the career of an entertaines. Manager is a person responsible for supervising and motivating people. *What are the task, roles, skills of the manager* Management Task #1: Coaching One of the most important management task is coaching. Managers must be the persons who will show to their subordinate or team members the right direction where the organization will need to go. They are simply instructors and trainers. Management Task #3: Change Agent The whole change process must be planned and managed if you want to bring desired results. Managers in the same time must ensure that the company will continue with the current level of success and prepare to implement change that will bring future success. Management Task #4: Forecasting the Future Forecasting is another managerial task that will provide a picture of how the future will look like from the...
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