Managing Change in Business Environment !!

"Your success in life isn’t based on your ability to simply change. It is based on your ability to change faster than your competition, customers and business" – Mark Sanborn

In this era of Globalization - shorter product shelf lives, rapid technology advancement, fast changing consumer tastes & preferences and dynamic pricing & financial strategies have truly redefined the global business landscape making this world a much smaller place & far more competitive for business communities.

Change witnessed in the world over the last couple of decades is far more than what we witnessed over the past few centuries! With over 1.4 Bn. Facebook users today, we have a larger chunk of world population on just one social network than what exists in even the largest countries driving away the concept of geographical boundaries that once divided people. Impact of Technology has driven the global online retail sector to generate annual revenue of $ 632 Bn. that makes me wonder the overall impact of technology on the world economy in such a short span of time and this is just the tip of the iceberg if we consider the impact of overall change on Economic, Political, Social & Scientific scenarios that change this world each day. So did you ever wonder, at this pace what our world would look like 10 years hence & what would you need to do to succeed and counter change?

Fortunately there continues to be a shortage of skilled manpower that leaves enough room for Management Professionals like you to offer the value proposition each organization looks for in dealing with their current & future Business challenges.

Coming from the corporate environment, I could put together a simple and practical model that would explain how you could approach this challenge and increase your probability of success: 



You can counter change and manage business challenges most effectively first and foremost by:
  • Setting a clear Vision – In the absence of a well-defined Strategy or a Goal, the results of execution would never be definite and free from chaos. Professionals must strategize and operate factoring the Economic, Social, Political and Scientific “Environment” that the organization, function and people operate within, making it realistic.
  • Structure – Having your vision backed by the right structure or an operational plan increases the probability of success. But if the structure doesn’t support the vision then structure becomes the vision which can be dangerous and misleading.
  • Execution - Implementing the defined process and doing it right the first time can lead to Operational Excellence! However at the core of this process is “Teamwork” since without a coordinated approach, even the best strategy and process may lead to a negative customer experience hence importance of people / team motivators must never be compromised.
  • Measure – Anything that can’t be measured can never be improved. Having business metrics and Dashboards established will only affirm the alignment to strategy & structure during the implementation phase. It’s important for Professionals to “Adapt” and be agile in the process to facilitate modifications to achieve the desired end result.
  • Improve – Having identified the business performance through the right measures, Professionals can then drive further process improvements that eventually lead to customer delight! Please note that “Innovation” is no longer a desirable business trait but it’s a must have to exist in future competitive business scenarios and to deal with the problem of shorter product shelf lives and go a long way in defining the culture of an organization for its Customers, Investors, Stakeholders and Employees.

The rate of change is not going to slow down anytime soon. If anything, competition in most industries will probably speed up even more in the next few decades. Companies & Professionals most likely to be successful in making change work to their advantage are the ones that no longer view change as a discrete event to be managed, but as a constant opportunity to evolve the business.


AUTHOR:
Mr. Manish Kotwani
Vice President - Human Resources
Sterling Backcheck

Which is better option for an Employer - Performance Improvement Plan or Fire ??

Performance Improvement Plan (PIP) is always better than firing because before firing an employee one need to understand why he/she is not performing according to the company’s objectives or requirements. The factors can be both internal as well as external. External factors basically include factors outside the organization like family related problems, stress, personal life etc. whereas Internal factors mainly include matters within the organization. This occurs mainly when there is rift between employees, or when he/she couldn't complete his task on given time.  Whenever such situation occurs it is important to manage or handle it by understanding what exactly the root cause of non performance of employee is. We need to encourage and motivate them and protect the image of the employee in front of employer.

Performance Improvement Plan is better than firing because the employee can be fair enough at times or else they can file a case against the employer, so it is desirable to have a Performance Improvement Plan.

Firing an employee is only applicable when he/she hampers the ethics of the organization and when they cannot compromise with basic issues in terms of compliance to safety.

AUTHOR:

Mr. Siddharth Krishna
Head HR - West Region
OTIS

Amazing ways to show appreciation !!

  • Post a thank you note on the employee’s office desk.
  • Greet employees by name when you pass their desks.
  • Acknowledge individual achievements by using people’s names.
  • Make a thank you card by hand.
  • Ask a person to share his accomplishments with others as a way of recognizing person’s ability & role.
  • Make a celebration calendar where in managers can use post it’s & written notes on recognition tacked onto specific dates to honor contributions of employees.
  • Email thanking an employee for a good idea for contribution.
  • Email offering encouragement for upcoming major project.
  • Send the employee a recognition memo from the Manager’s.
  • Hold up an applause sign at the next staff meeting after you mention your employee's successes.
  • Send out a weekly "Great Achievement E-mail Award" to the entire company acknowledging one outstanding employee.
  • Award the employee with a "plum assignment"- their choice of what they want to work on for their next project.
  • Send flowers to one of the less recognized "behind the scenes" individuals.
  • Create a "Hall of Fame" in the training room. Put up a picture of each employee of the month, and engrave their name on a master plaque with words of recognition.
  • Hand out the "Bright Ideas" award for innovative thinking. The winner gets a free dinner, tickets to the movies, etc.
  • Give the "High Five" award. Pick five people in the department and have them go up to an employee and say "I heard that you did a great job at ... Good work!"



Author


Mr. Manoj Dubey
Sr. Regional Manager - HR
BATA Company

How to reduce Workplace Negativity ??

Communication - Listening & Two way communication

Lack of effective communication is a major reason for putting an organization for many negative scenarios. Inadequate explanations can lead to poor client service, lost business opportunities and missed deadlines. Poor communication can make employee de-motivated and hence decrease in productivity or increase in employee turnover.
To understand the current employee satisfaction, companies should do surveys and if required should evaluate their current communication practices.

Encourage Open Communication

No one will be able to do well if there is only one way communication. For optimum utilization of the employee potential is very crucial to give them feedback on a regular basis. A positive environment can be created when the employees are encouraged to ask questions, give feedback and suggest ways to come out of a problem

Deliver the Promise

Everyone in the organization must make promise on what they will deliver and should be measured on the same. For an effective healthy working environment, the promises need to be realistic, neither under promising nor over promising. Then they should consistently deliver on their promise. Any employee would respect someone who promises and delivers rather one who fails.

Perception Management

People live with perceptions in an organization. If it is not managed properly, it becomes rumors and then grape wine which can reduce productivity. Unmanaged perception becomes reality.
It’s very crucial to give and receive feedback on a regular basis which will help you to understand your employee better. Many managers are not comfortable doing this; we often don’t know how we are perceived. Even if employees are provided feedback it is not constructive. Effective feedback will make  employee understand, how he is doing and what needs to be changed.

Rewards & Recognition

Provide appropriate rewards and recognition so people realize that their contribution is being valued. The power of appropriate rewards and recognition for a positive workplace cannot be ignored. It is one of the most powerful tools an organization can use to flag employee morale. It can be done on a quarterly, half yearly or annually basis.



AUTHOR:

Mr. Anil Menon
Chief People Officer
eZone - Future Group

How to make most out of your PGDM/MBA course for your Career !!


Your next two years pursuing MBA/PGDM will be some of the most energizing, exhausting, challenging, surprising, and amazing years of your life. Here are some points which will help you making most out of your PGDM/MBA course:


  • Full PGDM/MBA Experience:
Don’t stick to only Academics but indulge yourself in extra-curricular activities too. Committees and clubs are excellent way to develop your overall organizational skills, make valuable connections and have something extra to talk about in your interviews. Remember MBA/PGDM is not only about academics.


  • Networking:
Don’t limit yourself in making friends just to hangout and have fun, but think about it as long term associations which can help you in professional life. Also we tend to be friends with people who are from same cities or state and share similar interests. Take advantage of diversity of your batch and meet as many people as you can which will surely enrich your knowledge and broaden perspectives.


  • Start with open mind:
While you probably have clear career goals before starting your course, one objective of an MBA/PGDM program is discovering new interests and see where your skills best fits. So take full advantage of all academic activities during your program and analyze to help you plan your career better.

  •  Internships and Projects:
They are the best tools to make yourself ready for corporate life. Don’t complete your internships & projects just for the sake of doing it or for getting grades. Use your time to understand all the functional aspects of marketing, finance, operations or human resource (irrespective of which specialization your project belongs to). Increasing your professional network while doing Internships will be icing on the cake.

  • Listen more than you talk:
You are pursuing your MBA/PGDM program to gain knowledge. So while attending the sessions of corporate guests or while sitting in your class or even when working in teams with you classmates, keep your ears open and listen carefully to gather as much information/knowledge as you can.

  • Be Proactive and Take initiatives:
If you find something missing from your program which you hoped for before coming to college, which you think can improve your skills, let the college administration know. It can be some industry trips or conference or anything. Also take initiative in helping the administration in achieving that, it will surely look good in your resume.

  • It’s all about Confidence:
It doesn’t matter how good or how bad you were before joining the course, your objective should be improvement. Leave behind your shyness and take full advantage of activities which can help you improve your confidence. It can be communication classes, presentations, cultural and sports activities etc.


Above all, remember time will be short and the next two years are going to go fast. So, don’t waste your time in doing something which cannot add value in you. Learn to plan your day ahead and it will surely help you in saving time. After all this is what you are going to do in your professional life.

About the Author: Gaurav is an Alumni of IIM Lucknow and is currently associated with Pune Institute of Business Management

Complete PGDM course Pune from PIBM

PIBM offers PGDM Course for post graduation; our years of experience in the management field can set your life in the right direction. We conduct PGDM Course who have completed their graduation. One of the striking features of this course is of placements. The students can chase their dream job in their last semester of the course; they have several options where they could provide their expertise. Companies visiting for placements are considered only if they rank in the list of Fortune 500 Companies only. We have kept this standard for our students because of the teaching offered in PIBM. We adhere to modern concepts of learning,imparting education through modern mediums is better than traditional approach. Students get to learn several concepts and try out new strategies in their course.
  • Postgraduate Diploma in Management has specializations like:
    • Marketing
    • Finance
    • Human Resource
    • Information Technology
  • Look out for institutes offering special options to ease out the hectic student life:
    • Foreign Language Program
    • Entrepreneurs' Meet & Development
    • National Seminar
    • Workshop and Guest Lectures
    • HR Meet
    • International Projects
    • Social & Community work
Feel free to check www.pibm.in for more details on PGDM course Pune, our detailed website will provide you with details that can put forth how PIBM can benefit you. We have experienced staffs that have immense knowledge in education and industrial field. They can sort your queries pertaining to the course; they are easily approachable and can guide you precisely to complete the course.

Complete Post Graduation MBA Course from PIBM

PIBM is your trusted partner for completing MBA Course. Our state-of-the-art institute offers you top-notch learning experience for your career.

Highlights of MBA
  • Advanced Excel training
  • Communication Skills Training & Certification Program spanning 400 hours
  • Training & Certification of MS Project
  • Personality Development Module
  • Entrepreneurs' Meet & Development
  • Industry Internship
  • National Seminar
  • Workshop and Guest Lectures
  • HR Meet
  • International Projects
  • 30 to 40 one/two day projects
  • One Business Project
  • Social & Community work
  • International Study Tour*
PIBM adheres to modern methods of learning, students educating from us have an edge in the corporate world. We provide the right type of exposure that can help them in excelling in their life. One of the striking features of our institute is that we provide placement options in the last semester of graduating. Students have a clear shot in getting their dream job in their hands with our placement service; companies visiting for placements in our institute carry the tag of Fortune 500 Companies.

MBA (Masters of Business Administration) offered by IAEER's Pune Institute of Business Management (PIBM) is a 2-year full-time management course affiliated to the University of Pune. PIBM is a premiere educational institute approved by the AICTE, Ministry of HRD, and Government of India.