Bloggy Business Today

Good management consists of managing people, managing assets and self management.  Executives should conduct self-appraisal to review and monitor the progress being made in working toward personal goals that are compatible with organization’s goals.  The self-assessment can be done by allotting a specified schedule time, preferably each week, for this purpose.

The following are the common major factors that are involved in achieving personal and organizational goals:

• Personal development.  Determine what new knowledge and skills will have to be acquired to achieve specified goals.
• Career growth.  Identify and determine what job to hold three, five eight years from today.  Measure the progress being made to accomplish objectives.  Determine what actions can be done to ensure its realization.
• Resources.  Take advantage of all the resources available that might help influence needed to reach the desired goals.
• Profitability.  Professor Earl Brooks of Cornel University notes, “Increased attention will probably be given to what actions a man take that help the business grow”.
• Communications.  Take the necessary steps to ensure that communications make upward, downward and laterally are made effectively.
• Decision making.  Tackle decisions courageously when the time for decision is right.
• Delegation.  Be an effective delegator, this can be accomplished by training and encouraging subordinates.
• Problem solving.  Be ready in tackling problems that are difficult, complex or distasteful.
• Employee development.  Show genuine concern for the career trainings and development of the subordinates and personal as well.
• Integrity.  Be completely honest and straightforward in dealings with superiors, associates, employees, customers and suppliers.
• Humanity.  Without associating in a friendly manner with subordinate in an undesirable way, get across to people of being a human being with human feelings and weakness as well as a manager with a managerial job to accomplish.
• Innovation.  Be in tune with the times.  Develop and present new ideas that may help for a significant change and being profit to the company.

Every supervisor should evaluate his subordinates based on actual performance and not merely on instinct.

Evaluating subordinates over-all performance according to company standard is one of the vital functions of an executive.  Through performance evaluation, it determines who among the subordinates merits promotion and trustworthy to handle higher level of responsibility.  Another purpose of performance evaluation is to assess what kind of training and development programs can be designed to help improve productivity of subordinates.

Hereunder are some guidelines that can help an executive in accurately evaluating the subordinates:

• Establish performance standards and periodically review these standards to make sure if it still applicable.
• Modify the standards when necessary to keep them updated with the changing business conditions and workplace situations.
• Discuss thoroughly with the subordinates to ensure that the set standards are clearly understood.
• Consult and secure consensus from the subordinates in preparing work standards.
• Check all necessary information carefully before finalizing an employee’s evaluation.
• During evaluation, disregard personal prejudices, irrelevant hearsays and unfounded humors about an employee.
• Make it a point to compliment the subordinate for good work and favorable contributions when rating is discussed.
• Anticipate what the response will be and be ready to handle objections before meeting an employee for performance evaluation.
• Be ready to explain when an employee failed to get a raise or promotion thought being deserved.
• Take the necessary steps to upgrade the responsibility of an employee with consistent outstanding performance.
• During evaluation, give subordinate the opportunity to voice out personal assessment about the assigned task and responsibilities.

It is important for a manager to make an objective self-evaluation on a regular basis in order to determine effectiveness on the job.

Aside from the acquired technical competence, underwent necessary training, have garnered considerable exposure and experience, as the preliminary requirements for promotion, a manager is usually observed and evaluated by people on his/her effectiveness in executing the daily workload of the job assignments.

The following pointers can help improve or develop a manager’s personal effectiveness in dealing with people and in achieving personal and corporate objectives:

• Manage to keep a smile most of the time despite the day-to-day problems and annoyances being encountered on the job.
• Exhibit self-confidence when making decision when confronted with problems.
• Be ready and show genuine interest in helping and giving guidance to subordinates when needed..
• Set periodic personal goals related to corporate objectives. Monitor performance daily and make necessary adjustment to ensure that goals are achieved on time.
• Analyze personal strength and weaknesses and take the necessary steps to intensify strength and develop weaknesses.
• Always give a neat and clean impression. Be careful in selecting appropriate wardrobe
• Have an attempt to imitate one or more of admired people with great influence that can be of help in personal and career development.
• Request fellow managers for feedback or comments regarding managerial strengths and weaknesses and be ready to work on improving weaknesses.
• Exercise regularly, maintain and take good care of health.
• Make more friends than enemies.

People from different walks in life have personal goals and if engaged in business or employed, they are likewise involved in the achievement of organization’s goal. The question is how is the level of satisfaction regarding the progress in making towards goals? What are the necessary steps to be taken to become more effective and productive?

The following guidelines on self-evaluation will realistically help to identify strength and potential weaknesses where corrective measures maybe needed.

• Re-assess personal goals whether it is linked to company’s goals. To many, the linkage between individual objectives and organizational goals expected to meet, are too often overlooked.

  This gets to the very core of self-evaluation and soul searching in determining whether there is fulfillment of purpose in life, doing what is wanted to be done and whether one is heading to the right direction.

• Create a climate, an attitude that will bring about fulfillment of the set personal goals in line with the organizational goals.
• Schedule time for reviewing and monitoring progress in making toward pre-stated goals. If personal are compatible with organization’s goals, it is best to list down the major factors that are involved in the achievement of goals, such as:

1. Acquiring additional knowledge and skills;
2. Identifying the next step to be done for career growth;
3. Resources that will help gain knowledge, support and influence;
4. Level of satisfaction to contribution made to company’s earning performance;
5. Steps to take to make communication upward, downward, or literally more effective.
6. Making decisions courageously when the time for deciding is right;

• Set-up and operate personal and organizational priorities in proper and logical sequence. When goals are in order and properly sequenced based on importance, make a list of major tasks, decisions, problems and other activities that confronts which plan to devote time.
• Ascertain impact on others. The way an individual affect other people will surely bounce back to reflect upon either good or bad reputation.
• Overcome prejudices. Take serious steps to eliminate them or, if It’s impossible, to guard against actions or behaviors.

A thorough self-evaluation is key to one’s career in an organization.

Money issues have become a big thing to us these days and apparently we can see it all around. No part of the world is spared from these financial issues which seems to have included usually trouble free places such as the United Kingdom. If you don’t believe me, check out the UK debt news or personal finance news for yourself and you will see what I mean.

So much for financial woes, how do we cope up with them? Well, one is the hardest part; SACRIFICE. This is one word that no one wants to do regularly but apparently they have to today. It’s not a pretty thing to do but if you want to survive, you just have to do the necessary steps to be able to do so. Cut the spending, save each dollar or pound as much as you can and make sure you are able to provide for your family and most importantly for yourself.

Now in cases where you have excess money to spare, don’t go on and think of spending it on something like investments. Remember, investments are a big risk these days especially if you are thinking of stocks or real estate properties. These sectors are down and making an untimely investment is like throwing away cash for nothing. Hold on a bit and observe the market. If you want, get a broker or a reliable analyst so that you know where to place your money or better yet, where not to.

The times are hard and finances are unpredictable. For the employed, you never know when you would join the unfortunate ones who would be given the pink slip. If that happens, you can imagine the devastation it would have on you financially and morally. All it takes is one wrong step and you could end up losing a lot, and this is not only in terms of money. Each penny earned is critical and will eventually be your security blanket.

There is no telling when the economic crunch would come to a halt. Uncertainty is in the air and if you are still getting income, enjoy it. However if you are getting more than what you need, don’t go on a shopping spree just yet. Monitor the behavior of the business sector and the economy outlook. You will see the trend and once you see that upward swing once again, by all means invest as you wish and put your money to good use for your future.