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Business Skills

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Learning Focus for next Few Weeks Business Skills Leadership Skills Interpersonal Skills Intrapersonal Skills – PowerPoint PPT presentation

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Title: Business Skills


1
Learning Focus for next Few Weeks
  • Business Skills
  • Leadership Skills
  • Interpersonal Skills
  • Intrapersonal Skills

2
Business Skills
Leadership Skills
  • Motivating talent
  • Performance feedback
  • Goal setting
  • Developing communicating vision
  • Goal setting
  • Persuasion
  • Persistence
  • Decision Making
  • Problem solving
  • Negotiation
  • Planning
  • Evaluating Performance
  • Business strategy

3
Business Leadership Skills
  • Problem solving
  • Identify what is the problem in the conservation
    crisis case
  • Submit 1 copy Completed role summary sheet after
    class
  • Planning
  • How to go about achieving your own goals and the
    group goals in the case
  • Goal setting
  • Set individual group Goals for to solve case

4
Business Leadership Skills
  • Developing communicating vision
  • Taking a leadership role in developing
    communicating your own goals and to shape the
    group goal
  • Persuasion- others in your group with facts and
    arguments
  • Submit role preparation sheet (in persuasion
    class)

5
Business Leadership Skills
  • Decision Making Negotiation
  • Decide how to resolve the case as a group
  • Negotiate your interests are as per your role in
    the case
  • Best win-win agreement WINS participation credit
    coupons!
  • Persistence
  • Trying to stay focussed and achieve your goal via
    research and negotiation

6
Overview of Todays Class
  • Goal Setting
  • Building a Vision

7
Goal Setting Process
8
Why do goals improve performance
Focus attention on behaviors that will attain goal
Increase how hard one works on task
Improved Task Performance
Goals
Lengthen time spent on task
Promote use/discovery of knowledge needed to do
task
e.g., graduate school, glucose intolerance
9
What makes goals more effective in
improving Performance?
Goals
Specificity Difficulty of Goal
Improved Performance
10
Student Activity
  • Identify appropriate goals for your life
  • Justify how these goals will
  • Focus attention on behaviors that will attain
    goal
  • Promote use/discovery of knowledge needed to do
    tasks that will attain goal
  • Increase how hard one works to attain goal
  • Lengthen time spent on tasks needed to attain goal

11
Goal Setting Process
12
Understanding Vision
  • What is Vision?
  • Components of Vision
  • Example of Vision
  • 2. Developing a Vision
  • Class Exercise- Creating Vision
  • Take Home vision Creation (Conservation Crisis
    Team)

13
What is Vision?
14
Core Values
Core Ideology
Core Purpose
Core Ideology defines the enduring character of
an organization- a consistent identity.
  • Core Ideology is
  • Unchanging
  • A source of guidance and inspiration
  • The glue that holds the org. together
  • Consists of two main parts- Core Values Core
    Purpose

15
Example of Core Values
Core Values of Sony (1950s)
  • Elevation of the Japanese culture and national
    status
  • Being a pioneer- not following others doing the
    impossible
  • Encouraging individual ability and creativity

16
What are Core Values?
  • Core Values are the essential and enduring tenets
    of an organization. Core Values
  • Have intrinsic value to those inside the org.
  • Stand the test of time
  • Organizations tend to have 3 to 5 core
    values.

17
Example of Core Purpose
Core Purpose of Sony (1950s)
To experience the sheer joy of innovation and the
application of technology for the benefit and
pleasure of the general public.
18
What is Core Purpose?
  • Core Purpose is the organizations reason for
    being it reflects the peoples idealistic
    motivations for doing the companys work.
  • Core Purpose
  • Can never be fully realized
  • Answers the question- We make product or service
    X- Why is this important?

19
Vision Level BHAG
Envisioned Future
Vivid Description
Envisioned Future is a concrete comprehensive
visualization of an yet unrealized aspiration of
a company. It encompasses two parts- Vision
level BHAG and a Vivid Description of that BHAG.
20
What is Vision Level BHAG?
  • Vision level Big Hairy Audacious Goalis
  • Clear, compelling, unifying focal point of
    effort, that acts as a catalyst for team spirit.
  • Applies to entire organization
  • Requires 10 to 30 years to complete.
  • 50 to 70 probability of success

21
Example of Vision Level BHAG
Vision Level BHAG of Sony (1950s)
Become the company most known for changing the
worldwide poor-quality image of Japanese products.
22
Some company BHAG goals...
  • Become a 125 billion company by the year 2000
    Wal-Mart, 1990)
  • Became the company most known for changing the
    worldwide poor-quality image of Japanese products
    (Sony, early 1950s)
  • Knock off RJR as the number one tobacco company
    in the world (Philip Morris, 1950s)
  • Become the Nike of the cycling industry Giro
    Sport Design, 1986)
  • Become as respected in 20 years as
    Hewlett-Packard is today (Watkins-Johnson, 1996)
  • Become the Harvard of the West (Stanford
    University, 1940s)
  • Become number one or number two in every market
    we serve (General Electric Company, 1980s)

23
Example of Vivid Description
Vivid Description
We will create products that become pervasive
around the world We will be the first Japanese
company to go into the US market and distribute
directly. We will succeed with innovations that
US companies have failed atMade in Japan will
mean something fine, not something shoddy.
24
What is a Vivid Description?
  • Vivid Description is a vibrant, engaging and
    specific description of what it will be like to
    achieve the BHAG.
  • Vivid Description
  • Passion, emotion and conviction are essential
  • Translates the BHAG into an image in minds of
    employees.

25
Putting it all Together
26
Vision of Sony in the 1950s
  • Elevation of the Japanese culture and national
    status
  • Being a pioneer- not following others doing the
    impossible
  • Encouraging individual ability and creativity

Become the company most known for
changing the worldwide poor-quality image of
Japanese products.
We will create products that become pervasive
around the world We will be the first Japanese
company to go into the US market and distribute
directly. We will succeed with innovations that
US companies have failed atMade in Japan will
mean something fine, not something shoddy.
To experience the sheer joy of innovation and the
application of technology for the benefit and
pleasure of the general public.
Adapted from Collins and Porras (1996)
27
Develop a Personal Vision Statement using handout
28
Do Not Confuse
  • Core Ideology vs. Envisioned Future

Envisioned Future features..
Core Ideology features..
  • Discovery Process
  • Never changes
  • What company stands for
  • Creative Process
  • Changes once BHAG is attained
  • What company aspire to become.

29
Do Not Confuse
  • Core Purpose vs. Vision level BHAG

Vision Level BHAG features..
Core Purpose features..
  • Can never be completed
  • Not a specific goal
  • Forever pursued
  • Achievable in 10 to 30 years
  • Clearly articulated goal
  • Once reached, move on to next goal.

30
Do Not Confuse
  • BHAG vs. Goal

Goal (traditional sense) features..
Vision Level BHAG features..
  • Operational Level
  • Task Specific
  • Short time horizon
  • Used to achieve BHAG
  • Strategic Level
  • Company/Departmental Scope
  • Long time horizon 10 to 30years
  • What company aspire to become.

Eg. Become the company most known for changing
the worldwide poor-quality image of Japanese
products.
Eg. Reach a sales target of1 000 000 in the
Latin American market in one year..
31
Developing a Vision
Class ExerciseUse Concepts discussed in this
Vision Lecture and in the Collins and Porras
article to develop aVision for Management BBA
program University of Toronto Scarborough Tip-
Use Sonys Vision as a Template.
32
Hints
  • As in our conservation crisis case there are
    different stakeholders with their Individual
    Goals

Stakeholder Goal
Teaching and Co-op Faculty To be known and connected Internationally locally
Research Department To be a research community of choice for internationally recognized world class knowledge creation
Students The best place to start your enterprising business career regardless of what your future path may be
33
Develop a Vision of UTSC Management using handout
34
Using the completed role summary sheet
  • Identify appropriate goals that each role may
    have in the case
  • Justify how these goals will
  • Focus attention on behaviors that will attain
    goal
  • Promote use/discovery of knowledge needed to do
    task
  • Increase how hard one works on task
  • Lengthen time spent on task

35
Goals for each role in the conservation crisis
case
Role Individual Goal(s)
Conservationist
Member of the Department of Environmental Conservation
Factory worker
Unemployed male
Restaurant owner
Parsons Chemical Company Executive
36
Identify Common conflicting goals b/w roles
Role Shares Common goals with Shares Conflicting goals with
Conservationist
Member of the Department of Environmental Conservation
Factory worker
Unemployed male
Restaurant owner
Parsons Chemical Company Executive
37
Whats next in class?
  • Form 6 person groups
  • If not enough you can drop member of govt role
  • Give your Group a name
  • E.g., Team Surfside
  • Choose roles
  • Read Sign contract
  • One Copy to professor, each person keeps a copy
  • Schedule time to meet for setting Surfside vision

38
Conservation Crisis Case Vision Exercise
  • Complete Vision Template sheet
  • You should use points in the ROLES SUMMARY sheet
    group and class discussions.
  • E.g., Use Vision of Sony in the 1950s as a
    template and class exercise on the Management BBA
    program as a guideline.
  • Take the time to carefully think about each
    section of the vision, discuss the possible
    vision statements with your team members, and
    come up with a final vision for the group as a
    whole.
  • Keep one copy of your answers submit one copy per
    group of the completed Group Vision for Surfside
    for participation marks.

39
What is a common group Vision?
  • That benefits the whole group?
  • That benefits all the stakeholders the
    town?

40
In the next few weeks
  • Complete role preparation sheet individually
  • Submit next class (negotiation lecture)
  • Meet as a group out of class set group vision
    for surfside
  • Submit 2 classes from now (persuasion lecture)
  • Meet as a group out of class to start making a
    decision
  • Meet as a group in class and complete decision
    making task
  • 3 classes from now (decision making lecture)
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