Hi everyone, I like to try and relate discussion questions to my life as I always feel I get a better understanding and appreciation of them when I do. So when I saw this weeks question I waited till friday afternoon before attempting to answer it. And I waited because I had a meeting which I thought might just show me the answer in a very real and successful way. I work in recruitment, and one of my clients is a small venture capitalist firm, and they had asked to meet me to look at supporting them in a new venture. I meet their team, minus the one person I was to recruit, and got to know a little about their backgrounds, roles and the gaps they were trying to fill. They tend to buy small profitable owner managed businesses where they …show more content…
A remarkable eye for detail apparently. He covers the media, press, technical and legal documentation required for their businesses. Comes across as slightly bookish, but sharp as a tack. The money person is a very clever Financial Controller, who along with the detail guy keep all the money and administration/insurance/legal/technical aspects of the firm in place. She is very good at finding commercial gains in contracts and improving terms with supplier and handles all contract negotiations for each of their businesses. The operational guy is the technical person, the guy that runs the businesses they buy on a day to day basis. He makes sure that once the ideas are in place, with the right people, with customers, that he can supply to their customers. He is action orientated, a problem solver, adaptable, a motivator (in both a good and bad way depending on the circumstances) and not one who I believe was well liked by most of the firm's employees - respected but not liked due to his unerring focus on delivery. And he is the man I have to replace, which will be no easy …show more content…
So we are asked What skills and talents do you feel would need to be included? Simply theirs. If I were to be in the position to create a team then I am pretty certain that mine would look as close to theirs as I could possibly get it, their past record convinces me of its worthiness and ability. To give a specific example, they bought a small engineering firm, with a turnover of just over £1m pa, 5 yrs later they sold it with a turnover of £8m + pa and a significant profit return each year, the made over 500% back on their original investment (six figure sum), coupled with the gains made within the 5 yrs, and as an added benefit they sold it to the workforce, who now reaping the rewards for all their hard work during the 5 yr period. For me that is smart and clever business.
...y expand their sales base by having smaller businesses sell their products where it would be economical unfeasible for them to set up a branch. Practitioners such as bankers can provide support in the form of soft money to new businesses such as partial grants which do not have to be paid off until the business reached a certain size or level of profitability. (Disabilitymeansbusiness.com 2013)
What major technology change has had the greatest impact on the quality of your life?
I chose to interview Regina Geis, who holds the administrative role as acting supervisor for the County Mental Health adult day program, which provides services for individuals with intellectual disabilities. Ms. Geis has held this position for 15 months. This is her first managerial position within a human service agency. Her style of management has changed over this short period of time. She feels that she is now more direct with her direction with staff. She stated, “Maybe now I come across as a little bit cold. But I have learned that I now have to use the least amount of words to get my point across.”
Pitts and Koufopoulos (2012) argue that resources and capability are highly important internal factors that should be taken into account by the organization in order to obtain the successful performance in the long run.
To inspire and influence others, a leader must possess many skills and abilities. As motivational speaker Peter Northouse, states, “a leader should be strong, but not rude; be kind, but not weak; be bold, but not bully; be thoughtful, but not lazy; be humble, but not timid; be proud, but not arrogant” (Northouse, 2013) Moving an entire group of individuals toward a singular goal is a considerable undertaking. Without effective communication skills and a clear vision of what needs to be accomplished, one will feel like they are trying to herd cats rather than leading.
A group need members who possess diversity of skills. A company should have workforce that ...
Operation mangers should also have the same skills as functional manager but they are responsible in managing day to day operations and they should also possess the authority to hire and fire employees.
For this assignment, I chose to interview, my mother, a restaurant owner. Although I do not plan on taking over the family business, I feel as though the advice of a business owner can be beneficial if I plan on opening my own someday. When asked what about the field attracted her to the restaurant business, she replied that it is all she has ever done her whole life and that she grew up in the restaurant since she was two years old. In addition, she loves interaction with customers and meeting new people. She is required to use creativity while cooking in kitchen in order to meet the unique needs of customers.
Alongside the obvious professional requirements that any potential member should have you would be looking for the following types of attributes (Maxwell 1999) - Character - Communication - Attitude - Competence - Imitative - Self-discipline - Commitment This is not all you would be looking to find in possible team members but it would make up the basis of your selection criteria. STAKE HOLDER INPUT Another area of you selection process and decision making criteria that you would need to determine before entering into this process would be the feedback and requirements form the primary organization / facilities that you are contracting or employed by
David Fletcher is a portfolio manager with many years of experience and success under his belt. He currently is a limited partner managing an Emerging Growth Fund for Jenkins Fletcher Partnership or JFP. The company was small when David started and consisted of a CEO, Paul Jenkins, CFO, 2 financial assistance, 4 research analyses, 1 research assistant and a receptionist. David first started with JFP he hired an Administrative Assistance, Whitney to help organize his calendar, contact companies and take messages, etc. Whitney proved to be capable and eager to learn. Under David’s guidance she received her MBA and was promoted to a Portfolio Manager in training. One of her primary areas was Healthcare but she also had retail and environment. In addition, Whitney developed a solid network of contacts and was very good at annualizing the financial statements of potential business. However, David was still holding her hand and had not allowed her to invest completely without his input. Also, she was just starting to attend conferences solo. Although Whitney was helpful, David felt he needed to form a team to help with the labor intensive job of processing all the information for managing the fund. His typically day was consumed by meetings, phone calls and conferences and he could not keep this pace for the long haul. Therefore, he discussed the possible of forming a team with Paul Jenkins and several of investment firms before proceeding with the concept of a team at JFP.
Operations management is a dynamic field and presents exciting new issues and challenges for operations managers. For example, Maura Sprenger, human resources director at Techno Inc., a fast growing information technology company, is faced with a very difficult issue between winning a multimillion dollar business contract with Apex Company or run the risk of causing a very knowledgeable and valuable employee to quit.
Teams are important to a company simply because they motivate transformation and expansion. While teams play a key role in the expansion process of a business; the entire process can be delayed, if not disabled altogether due to a lack of participation on individual levels of commitment. Studies show that if a team is constructed and managed effectively they are 30-50% more productive. (Williams, 1995) Whatever the reason behind the formation of a team in a business it is always wise to take the proper approach to overcome any obstacle.
The components of a good team should be considered. First, a high-performance team must have strong core values to guide attitudes and behavior consistent with the team's purpose. The members should know why the team is created and why he or she is on the team. Secondly, a team should have specific performance objectives. Members should know exactly what they are trying to accomplish. This also includes having standards for measuring results and ways of obtaining performance feedback. A good team will make members realize the importance of collective efforts. Third, a high-performance team has the right mix of skills. These involve technical, interpersonal, decision-making, and problem-solving skills. No one needs to know how to do it all, but each member should be able to contribute to the group....
In every organization, different operational functions exist to ensure the smooth learning of the organization. In order for an individual to have the knowhow on how to operate the functions delegated to them they must have implicit knowledge on the functionalities themselves. Understanding markets, customers and the company goals has always proven to be a core starting point for individuals who ply their trade in the organization. The essence of the skills is evident in globalization, cooperate social responsibility and risk management issues. In operations management, the basic principles of operations should be followed to ensure that the profitability of the organization ensures the operation of the organization is
These are the type of people who usually possess personal skills. They like to take up responsibilities and manage a team. They make good leaders. They have good organizing and coordinating skills. They have the emotional capability to deal with high level of responsibility. They enjoy authority and responsibility.