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8/13/2019 2 EM Revision KIT
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Make YOU PASS
EM Revision KIT
8/13/2019 2 EM Revision KIT
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Concept of strategy
formulation
Competitive
Environments
Development in Strategic
Management
Alternative approaches to
strategy formulation
Strategic
Analysis
Principals of project
Management
Project stages Project and
Stages
Enterprise
Management
Wisdom Business Academy
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WHAT IS STRATEGY??
M I S S I O N
A D V A N T A G E
E N V I R O N M E N T
S T A K E H O L D E R S
D I R E C T I O N
O B J E C T I V E S
L O N G T E R M
A N A L Y S I S
Wisdom Business Academy
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Corporate
Business
Functional
What?
Competitive
advantage
Action plans
purpose
How ?
Support
Wisdom Business Academy
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Rational strategic planning process Objectives become increasingly
SMARTAll embracing
StrategicGeneral
Analysis
Specific
Detailed targets
Strategic
Implementation targets
Implementation
Action targets
Mission
Goals
Objectives
Strategies
Tactics
Operational
Plans
Specific
Measurable
Attainable
Relevant
Time- bound
Wisdom Business Academy
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Advantages and disadvantages of the rational
(Formal Approach)
Identifies key issues
Goal congruence
Long term view
Improves stakeholder perception
Provides basis for strategic review
Bureaucratic and inflexible
Strategies “emerge”
Costly and time consuming
Inappropriate in dynamic markets
Wisdom Business AcademyWisdom Business Academy
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Alternatives to the rational approach
Logical incrementalism
Small
Steps
Emergent
intended deliberate realised
emergent
unrealised
Resource based
view
Threshold Core
Basic Unique
Easy to Hard to
copy copy
competencies
resources
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Mission and Objectives
Mission
Goals
Objectives
Critical Success Factors
Key Performance Indicators
Overriding purpose
General Intention
S.M.A.R.T
Things that must go right
Measurable targets
Wisdom Business Academy
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Stakeholders
“Those persons and organizations
that have an interest in the strategy of an organization.”
Minimaleffort
Keepinformed
Keepsatisfied
Keyplayers
low interest high
H i g h
p o
w e r
l o w
Mendelow’s power/interest matrix
Wisdom Business AcademyWisdom Business Academy
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Assessment of the competitive environment
Internal Analysis
Porter’s Value Chain
Resources audit
Corporateappraisal
(SWOT)
External
analysis
Porter’s
diamond
Porter’s
5
forces
PE
S
T
E
L
Wisdom Business Academy
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Internal analysis
Resources
audit
WHAT WE
ARE GOOD AT
WHAT WE
HAVE
COMPETENCIES
RESOURCES
THRESHOLD
CORE
BASIC
UNIQUE
Minimum requirement to
operate within a market
The basis for competitive
advantage
Similar to competitors/
easy to copy or obtain
The more unique, the
stronger the competitive
position
Value chain
Support activities
Inbound
logistics OperationsOutbound
logistics
Marketing
and Sales Service
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External analysis
Power ofbuyers
New
entrants
Power ofsuppliers
Substitutes
Rivalry
Porter’s 5 Forces
P
E
S
T
E
L
OLITICAL
CONOMIC
OCIAL
ECHNOLOGICAL
COLOGICAL/ENVIRONMENTAL
EGAL
Demand conditions
Strategy, structure and
rivalry
Factor conditions
Related and supporting
industries
Porter’sdiamond
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Contemporary thinking on strategy
distributors
finance
suppliers
manufacturers
Network organizations
Complex
forms
Strategic
alliances
Complex forms merges
Sub
contracting
hierarchy solution
In house
Transaction
cost view
outsourced
hierarchy
solution
Asset specificity
Monitoring
the contract
Drafting and
enforcing
contracts
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ENTERPRISE MANAGEMENT – Strategic Management and the competitive Environment
Exam Tips
•
There is no one single “best” way of doingstrategic planning. When evaluating which
approach is most appropriate in an exam
question, make sure you justify your choice by
reference to the details in the scenario.
•Make sure you know the models for
internals and external analysis and be able
to apply them to the given scenario
•
Look at the whole organization in thelonger term. Aim to achieve sustainable
competitive advantage, considering
stakeholders and ensuring a good fit with
the environment.
•Be able to discuss what critical success
factors or objectives an organisation
should set in order to achieve its
strategic goals
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ENTERPRISE MANAGEMENT – Strategic Management and the competitive Environment
Past exam questions
Around 30% of the exam paper will come from the strategic management section. Populartopics are discussing the approaches to strategy and the various analysis techniques. The
following questions are from the E2 paper, but most of the old syllabus p5 questions are
also worthwhile reviewing.
•Rational approach – MT (specimen)
•Levels of strategy (May 10)
•Stakeholders – OD (specimen)
•Competitor analysis – FX (May 10)
•5 Forces – CN (specimen)
•SWOT – PC (Nov 10)
•Porter’s diamond – SCO (Nov 10)
Examiner’s comments (from May 10):
•Not enough breadth of knowledge
•Lack of theoretical knowledge
•A general lack of preparation
Remember – all parts of the syllabus are
examinable
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CORPORATE GOVERNANCE,SOCIALRESPONSIBILITY AND ETHICS
Enterprise Management
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ENTERPRISE MANAGEMENT – Strategic Management and the competitive Environment
Social
Responsibility
Ethics
Corporate
Governance
People
Profit
Planet
Corporate
Governance
Social
Responsibility
and Ethics
Levels
Approaches
Professional ethics
OECD
Agency Problem
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ENTERPRISE MANAGEMENT – Corporate governance, social responsibility and ethics
Corporate governance
Owned by
shareholders
Run by
Directors
Companies are
Corporate governance is “the
system by which companies are
directed and controlled”
The OECD 5 principles of corporate
governance
•Right of shareholders
•
Equitable treatment of shareholders
•The role of stakeholders
•Disclosure and transparency
•Responsibility of the board
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ENTERPRISE MANAGEMENT – Corporate governance, social responsibility and ethics
Objectives
Corporate
Group
Individual
Levels of ethics:
C
O
P
P
I
T
ONFIDENTIALITY
BJECTIVITY
ROFESSINAL
ROFESSIONAL COMPENCE AND
DUE CARE
NTERGRITY
ECHNICAL STANDARDS
Professional Ethics:
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ENTERPRISE MANAGEMENT – Corporate governance, social responsibility and ethicsSocial responsibility
Corporate social responsibility (CSR)
Corporate social responsibility is one
aspect of business ethics and is
concerned specially with the ways in
which an organization exceeds the
minimum obligations to stakeholders
specified through regulation and
corporate governance.
Triple bottom line reporting
•Profits
•Planet
•People
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Exam tips
•Corporate governance is viewed as how directors run companies.
•Know the main corporate governance rules and be able to identify problems
in a given scenario, and explain why the y are a problem.
•Ethical policy should outline what activities the organization deems to be
acceptable
•Corporate social responsibility is the deliberate inclusion of the public into
the corporate decision making, and the honoring of a triple bottom line: people, plant and profit.
•Pros and cons of CSR
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Past exam questions- corporate governance, social responsibility
and ethics
Around 30% of the exam paper will comefrom the management of relationshipssection, of which corporate governance,social responsibility and ethics makes upa small part. All 3 areas have beenexamined in the past.
The following questions are from the E2paper, but most of the old syllabus P5questions are also worthwhile reviewing.
•Corporate governance – SP Co(specimen)
A scenario based question requiringstudents to identify and discuss thecorporate governance issues. It isimportant to notice the verb discuss ,it isnot enough to simply list the issues.
• CSR-PW (May 10)
A popular CSR question requiring adiscussion on the pros and cons ofadopting a CSR approch .there is anargument against CSR as it is costly inthe short term , but it may give the
organization sustainability in thelonger term. Be able to present abalanced argument.
Remember – all parts of the syllabus areexaminable
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Management of relationships –
organizational cultureEnterprise management
Wisdom Business AcademyWisdom Business Academy
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Organizational
Culture
LEVELS
CLASSIFICATION
MANAGING
WHAT IS
CULTURE?
INFLUENCE
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Organizational culture
culture can be defined as “the way we do things around here”(Handy)
LEVELS OF CULTURE(SCHEIN)
Artifacts andcreations
Values and beliefs
basic assumptions
Seen, heard and
observed
Identified from stories
Deeply embedded
Influences on culture
• Size
•
Technology• Diversity
• Age
• History
• Ownership
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Models for categorizing culture Deal and Kennedy
Power
Person Role
Task
Handy’s cultural
types
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Natural cultureHofstede identified 5 dimension along which natural culture seems to vary
How much people
accept an unequal
distribution of
power
How much people
value long
standing rather
than short term
values and
traditions
How much people prefer looking
after themselves rather than
looking after others
How much
people values
rules and
stability over
risk and
adventure
How much peopleprefer male values
(power, achievement,
assertiveness etc.)
over female values
(relationships,
sensitivity, concern
etc.)
Power
distance
Long term
orentaion uncertainty
Masculinity/femininity
Individualism/ collectivism
National
culture
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Exam tips- organizational culture• There are a number of
models and theories on
culture . It is important that
students are main familiar
with them. The main ones
are:
• Handy
• Schein
• Deals and Kennedy
• Hofstede
There are others
• Ensure you can explain the
influences on culture, be
able to identify different
cultures from a scenario
and be able to suggest
changes to existing cultures.
• Hofstede’s model can be
useful when companies are
considering expanding their
operation overseas.
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Past exam questions-organizational culture
Around 30% of the exam paper will come from the management of relationships section, of
which culture makes up a small part. Culture has been a popular exam topic
The following question is from the E2 paper, but most of the old syllabus P5 questions are
also worthwhile reviewing
• culture –KCC (may 10)
A scenario based question requiring students to identify the original culture of an
organizational and to comment on the changes to the culture as the organization has
grown.
The question mentioned role culture, whichsuggested the handy model. It is important to
be familiar with the models in the texts are they
are often used to enhance answer.
Remember –all parts of the syllabusare examinable
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Management of relationships-
management and leadershipEnterprise management
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Management
and
leadership
Classical
theories
Leadership
Human
relations
school
Definitions
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Management and leadership definitions:
POWER – ability to expert influence
AUTHORITY – right to expert influence
RESPONSIBILTY –obligation to performs
DELEGATION –tasks passed to another to
perform (note: the authority is
delegated with the task, but the
responsibility cannot be delegated)
LEADERSHIP – influencing others to actin a particular way
French and Raven defined 5
source of power:
Reward
Coercive
Referent Expert
Legitimate
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Scientific management
TAYLOR
WEBER
CLASSICAL
THEORIES
FAYOL
14
principles
of
managem
ent
A fair day’s work for a fair day’s pay
Co –operation
Well trained employees
Work study method
Specialisation
Rules and regulations
HierarchyBureaucratic
management
Administrative
management
Division of work
leadership
Order
Unity of command
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Human relation schoolHygiene factors
Prevent dissatisfaction
• Environment• Wages
• supervision
motivators
Prevent dissatisfaction
• Responsibility• Advancement
recognition
HERZBERG
Human
relations
schools
Maslow
Mayo
Experimenter effect
Increased motivation HAWTHORNE
EXPERIMENT
MOTIVATIONAL /
HYGIENE FACTORS
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Management and leadership
The role of the manager (fayol)
• Forecasting and planning
• Organizing
• Co- ordinating• Commanding
• controlling
The role of the leader
• Encouraging
• Motivating
• Developing• Inspiring
• creating
A leader is “one who gets
people to do things willingly”
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Leadership
NO ONE RIGHT WAY
Contingency
theories
(Adair)
• Likert
• McGregor
• Lewin
• Tannenbaum
and schmidt
• Black and
Mouton
Leadership
Types of
leader
Style
theories
Trait theories
charismatic
traditional
situational
appointed
functional
physical personality social
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Leadership
LIKERTExploitive
AuthoritativeParticipative
LEWIN Authoritarian DemocraticLaissez-
faire
McGregor Theory X Theory y
Tannenbau
m and
Schmidt
Tells
delegate
s
Abdicate
s
Blake and
Mouton(9,1) (1,1)(9,9)
Dictatorial inclusive little or no
management
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Wi d B i A dWi d B i A d
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Tannebaum and Schmidt’s leadership continuum
Dictatorship Abdication
Area of freedom for managers
• Increase
Area of freedom for subordinates
Increase
Able to make
unchallenged
decisions
Persuade
workers
to accept
Presents
decisions –
invite
questions
Present
draft
decision
Present
problem
decision after
worker input
Gives limits
– all
discuss
group
decides
Group
decides and
discuss on
their own
Manager ….
Manager ….
Tells Tells and
sells
Tells and
talks
consults Involve Delegates Abdicates
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Blake and Mouton managerial grid
TeamCountry club
Middle road
Impoverished Task – oriented
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Adair action centered leadership
Task
needs
Group
maintenance
roles• Communicating
• Team building
• Disciplining
• Peace keeping
• Standard
seeking
Task roles
• Initiating
• Information
seeking
• Diagnosing
• Opinion seeking
• Evaluating
• Decision making
Individual
maintenance roles• Goal setting
• Feedback
• Counseling
• developing
Individua
l needs
Group
needs
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Exam tips- management .
and leadership• Ensure that you
understand the concepts
of power, authority,
responsibility, leadership
and delegation.
• Thinks about the different
theoretical perspectives
on management ;
consider their application
and relevance to the
question you are
attempting
• Consider the
challenge of the
global business
environment and
how this impacts a
manger .
• Do not be afraid of
giving your opinion as
long as it is relevant
to the question.
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Past paper questions- management and leadership
Around 30% of the exam paper will come from the management of relationships
section, of which management and leadership makes up a considerable part. This partof the syllabus includes all the management and leadership theories which have been
examined many times.
The following question is from the E2 paper, but most of the syllabus P5 question are
also worthwhile reviewing .
•Staff performance/moral- YR Hospital (Nov 10)
A scenario based question requiring students to identify and discuss problems within
an organization using relevant theories and models. A variety of answer is possible
here, depending on which models the student used. The most obvious model was
Herzberg ,but others could also have been brought in . It is essential that studentshave a good understanding of the various management and leadership models so that
they can provide a well argued answer .
REMEMBER – All parts of the syllabus are examinable.
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Management of relationships-
relationships in the working
environment
Enterprise management
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Stages of group formation
TUCKMAN
FORMING
DORMING(RECENTLYADDED
PERFORMING
NORMING
STORMING
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Belbin-team roles
Belbin-teamroles
shaper
plant
Monitor
evaluating
Resource
investigator
Companyworker
leader
finisher
Team
worker
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conflictConflicts is any personal divergence of
interests between groups and individuals
Types of conflict
horizontal
Between groups and departments at the same level
Symptoms of
conflicts
hospitality
Lack of co-
operation
frustration
Time
wasting
v
er
t
i
c
a
l
Betweenindividuals
and group at
different
levels in the
hierarchy
yy
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Managing conflict-The Thomas –kilmann conflict mode
instruments (TKI):
Depersonalising conflict and resolving
Avoiding Accommodating
Competing Collaborating
low
High
Low High
Co –operativeness
A s s e r t i v e n
e s s
yy
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Communication
• Unclear message
• Omitting information
• Using jargon/inappropriate
wording
• Inappropriate medium used
• Sending mixed messages
• Sending too much information
•
Using emotive words• noise
Barriers to good communication Negotiation
preparation
opening
bargaining
closing
yy
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Meetings
Effective meetingCorrect
attendees
Suitable time
and location
Clear purpose Discussion
Summarise
results
Publish
minutes
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The finance function
The
finance
function
Information for
decision making
BP( business
process
outsourcing)
SSC(shared
service
centers)
External
stakeholders
Strategic decision making Focus on value adding activities
Authorities
Investors
External auditors
SpecializationConsistency
Internal outsourcing
Cost reduction
Access to external
expertise
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Monitoring
Benefits of mentoring
improved motivation
Development of skills
Less staff turnover
Faster careerprogression
Mentor
A guide
A trainer
An
advisor
A sounding
boardA tutor
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Exam tips
• Remember individuals join groups in order to satisfy
some important need.
• A team is a small number of people with
complementary skills who are committed to a
common purpose.• Ensure you understand how groups forms and the
various roles that may exist within a team.
• Think about the importance of good communication
and the ability to negotiate in all situations.
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Exam tips
Around 30% of the exam paper will come from the management of
relationships section, of which management and leadership makes up a
considerable part. This part of the syllabus includes teams ,conflicts
,communication and negotiation. All these areas have been examined many
times.
The following question is from the E2 paper, but most of the syllabus P5
question are also worthwhile reviewing .All questions are scenario based.• Conflict/team leading-RM (specimen)
This question required students to identify and
discuss the nature and sources of conflict and to
suggest how effectively lead a team.
•
Outsourcing the financedepartment/negotiation-T4M (May 10)
This required students to explain the pros and
cons of an outsourcing proposal and discussion
on how the negotiation for this should be
handled. This was a 25 mark questions lot of
depth was required in the answer.
• Conflicts-LS (Nov 10)
This required students to
compare and contrast the
main sources of conflict in
an organization.
REMEMBER – all parts of
there syllabus are
examinable 55
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Management of relationships-
management controlEnterprise management
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Management control
fairness
levels
Discipline and
grievance
Control
systems
Humanresources
Staff appraisal Health & safety
6 As TARA
Diversity
Equal opportunities
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Management control
“control is a primary management task and is the process of ensuring
the operation proceed according to plan (Lucey)
Levels of control
Strategic
Tactical
Operational
Emphasis on strategic planning, setting the control
environment and monitoring achievement of and
compliance with plans and policies.
Emphasis on tactical planning, establishing the control
procedures and monitoring achievement of plans and
policies
Emphasis on control of structured and
repetitive activities
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Management control
Control system
T
A
R
A
ARGET
CTUAL
EVIEW
CTION
A
Effective control system -6As
acceptable
appropriateaffordable
adaptable
Action orientedaccessible
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Aspects of management control
Managementcontrol
Health andsafety
Grievance
DisciplineSelf
appraisal
Mentoring
Fairness
To ensure the organization acts in a
fair and non – discriminatory
manner
To provide support, aid
development and improve
knowledge and work
practices.
To improve the efficiency and
effectiveness of the organization
and to develop and motivate
employees.
To provide and maintain risk
free work place.
To achieve a change in
the behavior of
employees
To provide a mechanism foremployees to raise
problems or concerns.
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Discipline
The aim of disciplinary
procedures is to improve rather
than punish.
The process
Written
warning
Oral
warningInformal talk
Suspension
Demotion
or transfer
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Grievance
Discuss with grievance with a colleague,
HR or union representative
Grievance taken to immediate boss
Escalated upwards, HR informed
Colleague, HR or union representative
permitted to be involved
Time limits set to resolve issues
ENTERPRISE MANAGEMENT – Management of relationships – Management Control
Unfairly appraisedOverlooked for
promotion
Being bullied Discriminatedagainst
A grievance occurs when an employee feels
that they are being wrongly treated by
colleagues or supervisors
Right to appeal to
industrial tribunal
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ENTERPRISE MANAGEMENT – Management of relationships – Management Control
Health and safely at work Act 1975 (HASAWA)
Applies to all organisations employing 5 or more people
Organisation must
Prepare and regularly
revise a written statementof their H&S policy
Ensure policy is
implemented
Bring the policy to
the notice ofemployees
Provide training
information andsupervision
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ENTERPRISE MANAGEMENT – Management of relationships – Management Control
Staff appraisal
Benefits to Organization
Fair process for reward
Identifies candidates for promotion
Helps asses the competence of of staff
Identification training needs
Improve communication
A basis for HR planning
Provides clear targets
Monitors requirement and induction
process
Benefits to employees
Feedback about performance
Basis of remuneration
Opportunity to discuss future
prospects
Identification training and
development needs
Identifies work of merit done in
period
Provides formal opportunity for
discussion
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ENTERPRISE MANAGEMENT – Management of relationships – Management Control
Equity
EqualOpportunity
Diversity
Disadvantages groups
Proactive actionNo discrimination
Expectations
commitment
Maximizing potential
Relevant to all
Fair reward
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ENTERPRISE MANAGEMENT – Management of relationships – Management ControlExam tips
•Consider an organisation divided into 3
hierarchical levels: Strategic, Tactical andOperational and within these decision
making levels, Control will need to be
decided.
•An element of operational control is
individual control to ensure that they areworking hard and effectively.
•Methods used to control their behavior
include: Employment contracts, appraisals,
supervision, health and safety and
disciplinary procedures.
•Students tend to be familiar with
many of the control topics from their
own experience. Students should bring
their own knowledge and experience
to their answers.
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ENTERPRISE MANAGEMENT – Management of relationships – Management Control
Past exams questions
Around 330% of the exams paper will come from the management of relationship
section, of which management control makes up a considerable part. This part of thesyllabus includes a variety of control topics: Staff appraisal, health and safety,
mentoring, discipline, grievance and fairness. Most these topics have been examined at
some point.
The following questions is from the E2 paper, but most of the old syllabus p5 questions
are also worthwhile reviewing.
Mentoring – P co (Nov 10)
A short scenario base question requiring students to
identify the process and benefits of mentoring. As
with many topics in this section, students tend to befamiliar with much of the material from their own
experiences. Should be used in this type questions.
Remember - all parts ofthe syllabus are
examinable
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j g
Project initiation
Project
Management
Project Planning
and tools
Reasons
for
projects
Feasibility
Risk Analysis
LifecycleModels
Constraints
WBS
GANNT
Milestones and
gates
Software
CPA/PERT
histogram
Project Execution
control andcompletion
End of project
review
Success or
failure
Post
completion
Audit
Project
Management
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ENTERPRISE MANAGEMENT Project Management
Projects
A project is a unique undertaking to achieve a specific objective. It has defined beginningand end. It has resources allocated to it.
Once complete, it should become integrated into business as usual.
TIME
COSTQUALITY
Other constrains:
•Legal
•Ethical
•Environmental
•political
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ENTERPRISE MANAGEMENT Project Management
Discover What gives the current system life?Dream What might be? Envisage the results of
the project
Design What is the ideal solution? Design
elements and assemble them.
Deliver Plan for continuous improvement
Models 4-D and 7S
System
Skills
SharedValues
Staff
Structure
Strategy
Style
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Models - PMBOK
1. Project integration management
2. Project scope management
3. Project time management
4. Project cost management
5. Project quality management
6. Project human resource management
7. Project communications management
8. Project risk management
9. Project procurement management
ENTERPRISE MANAGEMENT Project Management
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ENTERPRISE MANAGEMENT Project Management
Corporate or program management
Directing a project
Managing a project
delivery
Planning
Controlling a
stage
Managing
stage
boundaries
Closing a
project
Initiating a
project
Starting up a
project
Project
mandate
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ENTERPRISE MANAGEMENT – Project Management
Project Lifecycle
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ENTERPRISE MANAGEMENT – Project Management
Project Sponsor
Project owner
Project Customer
Project manager
Project team
Project
proposals,
schedules
status reports
Project brief
Allocation of
Funds, terms of
Or reference
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ENTERPRISE MANAGEMENT Project Management
Not preparing The project’s Financial plan could caused disastrous Losses:
N - Negotiation P – Problem Solving
P – Planning and control C - Communication
T – Technical Awareness D - Delegation
P – People Skills (motivation) C – Change managementF – Financial Awareness L - Leadership
Role of Project manager
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j g
Project Teams
The
Project Manager
must
Control the team
Select the team
Ensure the team’s
effectiveness
Manage the team
Build the teamMotivate the team
Communicate with
the team
NOTE: Tuckman’s model of team development, Belbin’s model of team roles and
leadership theories are relevant here.
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Feasibility
Time/Risk
etc.EconomicTechnical Operational /
Social
Reject
Feasibility study
report
Accept
Project plansProject roles
Feasibility
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Accept Reduce
Transfer Avoid
Likelihood
Low High
Low
High
Impact (Effect)
Risk assessment
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Various tools, techniques and reports are used throughout
projects, particularly at the planning stage.
Initiation Planning Execution/control Completion
SWOT WBS Progress report End of project review
Feasibility study CPA PRINCE 2 Final report
PID PERT EVM Post completion audit
Risk assessment GANNT
Histogram
Milestones/Gates
PQP
Project software is used throughout the project
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Work breakdown structure (WBS)
Work breakdown structure
Work packages
Statements of work
Product breakdown structure
Cost breakdown structures
Break project down to manageable parts
Specifies work to be done
Who is responsible
Products required
Costing all of the above- Forms the BUDGET
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10
02 8
105
3
418
18
26
26
6
14
A B E
8 10 8
C D
6 4
CPA or network diagram
Critical path: A, B, E
Est. duration: 26
Float on C or D of 8
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GANNT chart
A
B
C
E
Current time 16
A
B
C
D
E
4 8 12 16 20 24 28
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Project management software
The planning and control of the project will be assisted through the
use of project software. The type of
output being produced will vary
depending on the package being used.
They are used in a variety of ways
•Planning
•Estimating
•Monitoring
•Reporting
Examples include MS project and
project Kickstart.
Other tools
Scenario/ PERT – consider one ormore sets of circumstances that
might occur.
Milestone and Gates – One of the
main reasons for constructing a
network diagram is to improvecontrol and to facilitate this, a
number of milestones can be
identified. This shows how far the
project has progressed and how far it
has to run.
Histogram – A stacked bar chart
showing the amount and timing for a
resource or range of resources.
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Project control
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Project control
Agreeplan/
risk set
budget
Produce
baselineplan and
risk
analysis
Manage
plan
Raise
issues/changes
Evaluateprogress
Update
plan
Review
updated
plan
Revise
plan
Collate risk
issues,change and
progress
date
Team
meeting
M’ment review
meeting
Operational
feedback
session
Update
plan
controls
Publish
progress
report
Phase
reviewboard
Operational
feedback
session
Once only Daily Weekly Phase
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What do you control ?
A project control system enables the recognition of a problem before they become
too difficult to solve.
How elaborate a control system is depends on the size and scope of the task to be
managed, as well as the size and distribution of the team working on it.
Methods of control/ review:
•Weekly progress and review
•Earned value management
•PRINCE 2
•Post completion audit review
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Completion
End of project
End of project review
Post completion audit
•File all documentation
•Final payments to suppliers
•Formal handover to customer
•Disband project team
•Produce final report
•Ensure project completion as defined
•Compare outcome againts PID
•
Evaluate performance of project:oTime
oCost
oQuality
•Effectiveness of process
•Review the success of the project
•Receive user’s feedback
•Highlight any issues with the project
•Benefits delivered?
•Learn from experience
Carried out several
months later
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Was it a success or a failure?
Success
Many organizations view project management as a strategic competence, from
which they can gain competitive advantage. Excellence means continuous
improvement. An example of this is PMMM, the project management maturity
model. Given as an accreditation about how well a company has managed its
project.
Failure
Why some projects fail??
- Lack of user input - Scope creep
- Long time scales - Lack of testing
- Vague requirements - Business change
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Exam tips
•Ensure you are familiar with the various PM models: 4D, 7S, PRINCE 2 and
PMBOK
•Be able to identify the project stakeholders and be able to use the Mandelow Matrix
to manage them.
•Know the project manager’s role and the skills required
•Know the models of the team development, team roles and leadership theories.
These apply equally to projects.
•Be familiar with the range of PM tools, use them and the benefits of using each of
them.
•Know project life cycle