Industry Experience - Term Paper Example

Industry Experience BTEC Higher National Portfolio No. of organisation Period covered by this portfolio From: To: Instructions The assessment for this unit is based on the selection by you of a range of possible placement host organisations. The organisations must be relevant and provide experience and appropriate opportunities for you to complete the learning outcomes for this unit. Company background, location and information should be researched as part of the selection process, which may involve a pre-placement interview. Forward planning is essential to ensure that you maximise your experience and secure your industry experience. You must set your own aims, objectives and targets forming a focus for the management report in section 4. These must be agreed with your tutor and the organisation you are placed/working with. You should investigate current working practices and analyze your findings. You should ensure that you collect appropriate information in support of the Management Report. Section 1 Use methods to arrange industry experience that will support the development of a management report in an appropriate service industry context 1.1 Research and select a range of organisations that could provide you with suitable industry experience. Provide evidence of your research in the form of:- lists of organisations, department, contact person, outcome of inquiry/ job application published samples of advertisements and where they were found. Cardinal Health, Careerbuilder: Pinnacle Technical Resources, Careerbuilder: 1.2 Explain how your chosen industrial experience would contribute to the development of a management report. My experience would contribute to the development of a management report because I have the background and knowledge in management to help a company formulate its overall strategies and goals. For example, I am aware that HRM (Human Resource Management) is one of the prime examples through which strategic management can influence what occurs within a company by a mixture of theory and pragmatic practice. It is seen by practitioners in the field as a more innovative view of workplace management than the traditional approach. Its techniques force the managers of an enterprise to express their goals with specificity so that they can be understood and undertaken by the workforce, and to provide the resources needed for them to successfully accomplish their assignments. As such, HRM techniques, when properly practiced, are expressive of the goals and operating practices of the enterprise overall. Many firms are realizing that a traditional functional organization is evermore unsuitable for the current environment in which they operate. The present time and environment demand firms to be more agile and adapt quickly to their surroundings. The best method here, firms have realized, is to develop easily deployable teams containing individuals that are fit for certain jobs and projects. Section 2 Prepare and agree aims, objectives and targets of the management report with the appropriate manager within the selected organisation (append a copy of your job description where possible) 2.1 Set prioritise and agree aims, objectives and targets for the management report. The process by which a firm formulates and implements its strategy through the resources at its disposal. It can be mirrored with the actual definition of management as well in that it is devising goals and methods by which an organization is to be run, with a direction (Kono, 1996). Strategic management dwells upon where the firm currently stands, where it will be in three (short term), five (mid term) or ten (long term) years if no changes are made, whether this predicted position of the firm is acceptable, and if not, what changes will have to be made now in order to secure a position where it is envisioned to be in. Strategic management rises above the petty problems of day to day business processes to devise a direction for the firm and methods to achieve it (Mintzberg, 1987). Strategic Management is thus a concrete framework within which all other managerial operations are conducted. It is an activity conducted at the highest level of the corporate hierarchy and sets the terms and goals for a company to follow for success (Bradford and Duncan, 2000). 2.2 Explain how the aims, objectives and targets will benefit the organisation and you as a learner Section 3 Monitor and evaluate progress in achieving aims, objectives and targets, using relevant sources of information. 3.1 Gather information to monitor and evaluate progress from a range of sources and assistance Thus, it is very necessary that good relationships exist between management and the people they employ. An organization can build a good strategy and have the resources to fulfill it as well but if people are unwilling to accept the goals of a corporation and work towards them, failure is unavoidable. This is where human resource management and employee relationship management comes in. Managers realize how important it is to lead their employees instead of directing them. Human resource management is the business practice of techniques for managing a workforce. Human Resource Management is done on the premise that employees are distinct individuals with different backgrounds, personalities etc. and have varying goals and needs. This warrants a treatment different than that done with other inputs for an enterprise and personnel should not be thought of as basic business resources, such as machinery, vehicles etc. This field assumes that virtually all workers wish to contribute to the enterprise productively along with fulfilling their needs and achieving their objectives as well. The main impediments to their endeavors are lack of knowledge, insufficient training, and failures of business processes. Also, these techniques aim to bring an individuals goals inline with corporate strategy and thus achieve goals whilst working in harmony with members of the organization. 3.2 Evaluate progress against original aims, objectives and targets (set in 2.1) Organization involves investing in "human capital, the most important asset inside of organizations today." (Carter, 2005) Managers, especially at the highest level, must organize the tasks of their employees so they meet with current expectations of productivity and contribute to the goals of the overall planning that is constantly occurring. Tasks must be clearly defined, and yet managers must also allow for individual talent and creativity (which be necessity may create new "tasks" previously not considered) to come to the fore. This is part of the democratization process already discussed under the planning section. Good ideas, whatever their origin, must have an avenue of access to flow through the company. Often this involves the creation of a horizontal rather than a vertical management structure.(Carter, 2005) Section 4 Write a management report which determines conclusions that are consistent with your aims, objectives and targets, identifying data and information to support the conclusions. Present the report in an appropriate format outlining the research undertaken and analyse the outcomes. (Word limit: 2000) What then are the characteristics of a typical strategic plan Most proponents of strategic planning, both within the academic and business communities, argue that vision is the first step in any successful plan. Definitions of vision vary, but Mark Lipton has formulated one of the clearest: A vision must focus on the future and serve as a concrete foundation for the organization. It does not change from year to year but serves as an enduring promise. A successful vision paints a vivid picture of the organization and, though future-based, is in the present- tense, as if it were being realized now . . . a vision must give people the feeling that their lives and work are interwinded and moving towards recognizable, legitimategoals. (Carter, 2005) So the vision statement will define the goals and strengths of an organization while the strategic planning lays the groundwork for how those goals will be accomplished. Without a vision there will be nothing to plan, and so this is the reason that the vision must come first and is of paramount importance. The vision must not be so theoretical as to be impossible to translate into practical actions, and not so concrete that it does not account for future changes and development within the company. Strategic planning helps to put the vision into practice and can clarify short-term goals and the tactics that will be used to achieve them. The idea that the vision must somehow make the company's work to the wider lives of the employees is laudable although perhaps somewhat unrealistic in today's economy in which most people work, both literally and metaphorically, "at will". Employee loyalty to their company is likely to echo the company's loyalty to them, and in these days of down-sizing and mergers, that is likely to be rather a weak bond. Once the vision is in place a mission statement may also be created. The mission statement is in many ways similar to the vision that is an integral part of any strategic planning. The mission statement is a perhaps more concrete description of what the company is trying to do within its marketplace. The mission statement should be "a clear and succinct representation of the enterprise's purpose for existence." (businessplans, 2007) The mission statement (as with the vision) should be "the first consideration for any employee who is evaluating a strategic decision." (businessplans, 2007) How can such a statement be worded to cover the multitude of possible scenarios in which it may be called into service It can start with a very simple statement, and be backed up by a more complex, and detailed explanation. Thus Disney has a mission statement that simply states it seeks "to make people happy" (businessplans, 2007). Obviously if this were the totality of its mission statement then it would be absurdly generic and simple. But Disney backs up its mission statement with a more complex explanation. The company is to have the following values: - No cynicism - Nurturing and promulgation of "wholesome American values." - Creativity, dreams and inspiration. - Fanatical attention to consistency and detail. - Preservation and control of the Disney "magic". Decision-makers at all levels and within the diverse and often contrasting operations that Disney possesses can look to the mission statement and its detailed explanation and weigh their planning and decisions based upon the basic foundations of the company. If a company such as Disney strays away too far from its mission statement then it may risk losing some of the identity that has made it so successful. The mission statement and attention to it within all levels of corporate strategic planning are vital for keeping the business "on track". Thus when Michael Eisner started to finance independent film companies that produced movies which could not, in all honesty, be regarded as reflecting "wholesome American values" he was roundly criticized. Part of a successful mission statement, and indeed of the whole process of strategic planning, will be to leave enough room for change and evolution while keeping the basic foundation in place. Thus when Disney instituted its "Gay Days" at Walt Disney World it was roundly criticized and subject to an unsuccessful boycott by so-called "traditional values" groups. Disney argued that it was sticking to its original statement by embodying the American ideal of tolerance and diversity in its "Gay Days". The mission statement allows enough room for growth and development as society and thus the marketplace changes. The idea of a "Gay Days" in Walt Disney's time would have been unthinkable, but he is no longer alive and times have changed. Once a vision statement and/or a mission statement are in place a SWOT analysis is in order . SWOT analysis is a strategic planning tool used to evaluate the Strengths, Weaknesses, Opportunities and Threats involved in any type of venture. These four factors may be summarized in the following manner: Strength: Organization attributes helpful to objective Weaknesses: Organization attributes harmful to objective Opportunities: External conditions helpful to objective Threats: External conditions harmful to objective The objective in the case of the strategic plan is the production of a plan that will ensure future development and success for the company. In going through a SWOT analysis the company may identify possible strengths and weaknesses. These often include an examination of the resources of the company. Such resources may be divided into financial, intellectual and locational resources. Infrastructure and efficiency are part of these factors, while the quality of staff and management can be evaluated. These essentially internal factors (the 'S' and the 'W') of the SWOT analysis must be weighed against the external factors in the "Opportunities" and "Threats" categories. Examples of possible opportunities and threats include competitors' actions, economic conditions and changing markets. As can be seen from the complexity of a SWOT analysis in any corporation a cross-functional team or task-force should be in place to undertake it. A broad range of perspectives is vital for a valuable SWOT analysis, both from a functional point of view and from different levels of the hierarchy. Here the democratic side of the business plan appears once again: a top-down approach will not produce a valuable SWOT analysis because it is too one-dimensional and tends to be myopic in nature. The question now arises as to how the organization should implement its strategic plan. The choices involved revolve around the type of leadership that is present within the company. Different companies may have contrasting priorities towards organizational leadership. For example, Lockheed martin concentrated on "candid and open communication . . . taking person action to unblock obstacles that prevent effective performance . . . acting when the need exists rather than ignoring issues." (Carter, 2005). In contrast, McDonald's corporation, which is franchise-based rather than a traditional top-down corporate structure, stresses "developing a strategic perspective . . . gaining skills in insightful reasoning, problem solving, innovation and mental agility." (Carter, 2005) Contrasting plans, but both concerned with enabling the 'thinking' and 'analytical' skills of management. Essentially, the modern business needs managers who can increasingly think on their feet and for themselves within a rapidly changing and more complex environment. The manager does not merely need to analyze in an inward sense, but also needs to be able to communicate his/her findings to subordinates and superiors. This leads to the influencing function of management. This aspect of management relies upon what are popularly known as "people skills". These are perhaps inherently difficult to learn, based as they are on intuition, instinct and knowledge of human nature. However, certain aspects of group dynamics and motivation can be learned, at least in a theoretical sense. How to apply this theory to individual situations is of course another matter. One of the most important facets of influencing is managing the delicate balance between giving employees specific, clearly defined tasks and enabling them to use their own imaginations. MIT (Massachusetts Institute of Technology) report that they were much more likely to become enthusiastic about their work if they felt they were part of an organization that actively sought out learning opportunities. (Carter, 2005) Such an organization is always ready to change when the opportunity arises: it is not stuck in a paradigm paralysis in which change is virtually impossible. Such influence will involve several different elements. First, expectations must be set and results must be fairly measured. Feedback must also be linked to consequences, whether good or bad, and commitment and imagination must also be encouraged (Miller, 2005). Influence is thus a complex process in which employees must know what is expected of them while also trusting that they will be fairly evaluated and provided with timely feedback. If an employee does not feel that he/she is part of such a process then commitment to the company is likely to suffer, along with actual performance. Motivation on an individual level, such as annual reviews etc. must be combined with group dynamics and general morale-boosting management tactics. The manager must balance concern for individual needs and performance with his overall function as a leader of a group. At times communicating with one employee may hinder group dynamics, especially if that employee's ideas are in conflict with the group's. The manager must take care not be seen to be favoring one individual over another, or over the group, while taking into account the unique and individual needs of every employee. Once again, these skills are often innate rather than learned, although managers can be pointed into the right directions through "Best Practices" seminars and workshops. Influencing leads into controlling as managers must decide what performance standards to devise and how to enforce them. Once again, a degree of employee autonomy is the growing trend within corporations. This may be linked to the increasing amount of streamlining of corporations that has led to multi-tasking and the need for employee independence. Employees no longer have one goal or set of standards to meet, but often a myriad of different activities that make it difficult to evaluate their performance by the simple criteria that were use in the past. As Cole puts it, managers "must be prepared to explain to your employees why their goals exist." (Cole, 54) These goals may be specific or may, as in the case of a whole corporation be very nebulous and ideologically based. An organization cannot exist without Vision, Mission, Objectives and Goals (VMOG). VMOG should not only be available to the highest executives, but to the most junior employees. They must, perhaps most importantly, know where there individual place is within VMOG and how they can help the business to reach its goals. If VMOG is merely a platitudinous statement pinned to a wall that is then ignored then it is essentially useless; it needs to be living and breathing part of the day-to-day activities of the company as well as the overarching sense of purpose that employees feel they are part of. Baron, RS. (2005) "So Right It's Wrong: Groupthink and the Ubiquitous Nature of Polarized Group Decision Making". Advances in Experimental Social Psychology. 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