MANAGEMENT BY OBJECTIVES

The great thing about the Mandy Sir classes are in each and every class we are learning an important lessons not only from Mandy Sir but also from tiny things which we have seen in our life. It is very surprise and interesting to hear how these tiny tiny things are teaching us Management skills, Leadership qualities and organizational skills. I was surprised to see what is the relation between a magnet and POM.

                                            As we all know that magnet is material or object that produces the magnetic field. This magnetic field is invisible which is responsible for the attraction or repulsion of other materials. The magnet not only allign its own molecules to form north pole and south pole but also it alligns the foreign particles around it until its magnetic fields area between north pole and south pole. So, in the same case manager has a power to control and allign the employees in such a manner to bring shape to the output of the work and also to the organization.So like all the particles allign to create a strong magnetic field, a manager also allign all the work force to produce a great efficiency from the organization.

The Management by Objectives which is a process defines the organization so that the management and the employees agree to the objectives and understand their work to do in the organisation in order to achieve success.

 The Process of Management by Objectives have various stages.They are

Set Objectives:

                              The management team sets the objectives to achieve it. The objectives are fixed considering the factors where the organization achieves success for a particular period of time. So the management team works to find those factors and fix a plan or action according to it.

Monitor:

                              The Assistant Manager works who works under the Manager executes the plan and if needed he optimizes the factors related to resources to minimize the cost.If it is necessary he takes the guidance of his Manager and work accordingly.

Evaluate:

                          The Assistant manager evaluates himself with the output and he compares whether he achieves the objectives or not. If he is fall short of the objective he plans accordingly to achieve it and if the situation matters, then he might approach the Manager fro suggestions.

Reward:

                        If the Assistant manager works hard to achieve the objective he will be awarded appreciating his work or if the employees working under him produces the good output he encourages the employees by giving rewards to their work.

Review Organizational Objectives:

                       When the Assistant manager completes the work, the manager review the work whether he achieved it or not and then if he achieved it then the manager will set new objectives or if not he will niggle the factors effecting in achieving the objectives and according to that he plans it.

Hidden Lesson In Navarang

      

When I looked at the Navarang Cube at the first time I dint get any idea what is the lesson behind it. But after I started thinking about it I understood alot of organization lessons from it. This navarang is having 27 cubes made up of nine colours. It has 6 faces and each face is having nine different colours.

       

                                                                                        I considered each colored block represents a particular skill set of an employ and so there are 9 different colors and 9 different skill set employees. Now these nine people form a group and working on a task given by them. The task will complete only when these nine employees contribute their work. For, example if an organization is having six teams of nine different skill set employees. When we form these six teams in such a manner that it forms the Navarang cube. It means the output gives a shape to the Organization and the success from it is more efficient than the irregular navarang shape. So, from Navarang cube I have learned that it is the responsibility of a manager to form a team picking up the right talent and also look after the healthy environment in the team which helps the organization to produce the output efficiently.

Muhammad Yunus........A Visionary......    

                                                I would like to discuss here about muhammad yunus and his great work behind the  Grameen Bank to establish.I was very surprised how Mhammad Yunus visioned the outcomes of Grameen Bank.With his tremendous knowledge about economics he could have earned billions of rupees but he has choosed a path to help the poor.His visionary showed the remaining world how to control and eradicate the poverty and to help the poor people.

                                                                   Helping the poor people is not only raising funds and help them providing their basic needs as a charity.But helping the poor means to make them productive person and helping them to earn money of their own initially and do not depend on others.He had done that conceptualizing the Grameen Bank.

                                                                   What is the major difference between the Grameen Bank and other conventional banks.The main difference is Grameen Bank works for the poor to build their lives and make them to stand on their own without depending on others.But, this is not the case of conventional banks.Conventional banks do services to help the rich people  to increase properties and indeed the banks also increase the profits. Iam not interested to discuss more about the grameen banks and conventional banks and write points of points of differences between them.But I would like to express my  responsibilities I have learned from Muhammad Yunus.

1) Never be selfish and greedy to earn money:

                                          If muhammad Yunus was selfish person and greedy about earning the money,then this world will defenitely be missing the great concept of helping  the poor and also to eradicate or control the poverty.

2) social Responsibility:

                                         Every one should have atleast minimum social responsibility. If muhammad Yunus had not have an interest of responsibilities then just imagine the lives of people who are benifitted by the grameen banks.

3) A visionary:

                                      Because of his visionary atleast some percentage of poor people are benifitted by the Grameen Bank.His visionary inspired me how can do even more better to improve the life standards of the poor.

4) Initiator & Innovator:

                                       Yes he is the Initiator and the Innovator of the great concept of Micro credit loans.Because of his initiatives and new innovative concepts, he was awarded by a Nobel Peace Prize.

                                                                                I would like to thank Proff.Mandi for helping us and also given us a great opportunity to know about the Great person Muhammad Yunus.

Depth of Management

Tasks are different but the lesson from every task gives you the success in life.It applies every where and it just simply follows the Newton's 3rd law of motion.For every action we take to complete the task,there is an equal and opposite reaction from our work i.e the output.But what matters here is how efficient and decent work we have done to complete is the biggest challenge in this competitive world.Lets look at how 3-idiots crossing the valley in an effective manner.

                                    

The above picture is very interesting and also also seems funny at a moment whether the picture was about

the Super Mario video game.Off course mario also does the same task in the video game to reach home which was his target.The task for above three persons are also same.How to coss the valley with a rod.As a manager I should solve this problem.First I need to analyse the problem and make a decision to cross the valley.Here the situation teaches  me the decision making skill.decision making is very important and every manager has to have that skill.Because the decision I take shows the impact on the organization.So, before taking a decision analyse the present problem.

The task consists of 9 steps.Every one faces the three stages mentioned below.

1) Fully Safe

2) Half Safe

3) Fully Unsafe

                                                                

The management skills and lessons from the above task are

1)Team Work:

            As the picture shows that there is problem called valley for the idiots to cross it.If the team work doesnot happen properly, they pay the dangerous risk of death.But,as a team work and co-ordination it is very easy to cross it efficiently.

2) Roles and Responsibilities:

                                                   Without giving the roles and responsibilities for each person it is difficult to complete the task eventhough working as a team.So, each team member has his own responsibility otherwise every one do the same work and ended up with delay in work and no progress.For example, as shown in figure if each person is not assigned the responsibility then everyone will face the risk of falling into the valley.In an organization without defining the roles and responsibilities it is very difficult for them to their daily targets.

Trust:

          In a situation like this every team member has to believe his other teammates.When a clear roles and responsibilities are given to each person he has to live up to the expectations.so that he can build up trust in other persons.In this case trust is very important otherwise no one will take a risk and they never ever cross the valley.

Communication:

                           The other important feature is communication.For,example in the above task when they have good terms and relations within each other then automatically the communication goes well.If the second person is in air and if not communicate properly then imagine the life of middle person.Same is the case with in the organization.If there is an communication gap the company ends up with losses.

                                                                    So the three idiots have to follow the above instructions from the manage to cross the valley efficiently.