Friday, 6 September 2013

Executive Coaching: A Must For Sure Success

It has more than once been proved that executive coaching can measurably improve the performance and professional growth of senior executives in any business.  Executive coaching is a fast growing business not only in the developed economies but also in the developing world.  It has been a growing trend especially in the aftermath of global financial crisis, which is justly considered by many economists to be the worst financial crisis since the great depression of the 1930s; for the financial crisis of 2007-08 played a significant role in the failure of key businesses, declines in consumer wealth estimated in trillions of US dollars and downturn in economic activity leading to the 2008-12 global recession and contributing to the European sovereign-debt crisis.  The recent recession has already taken down major corporations and chains most of us thought would be sticking around forever.  In this scenario, one way to protect and safeguard our companies from this kind of major system failure and ensure success against every odd is to hire services for executive coaching.  And luckily there are no dearth of individuals, firms and educational institutions that are ready and willing to provide this much needed executive coaching; a must for sure success.

Hearteningly, executive coaching is no more a mere remedial effort aimed at some mediocre and under performers, but, a major thrust solely focused on developing high potential leaders, and accordingly they every business has a fair reason to invest their valuable time, energy and money for the purpose.  It can be mentioned here that businesses across the globe have already been reaping the good dividends of taking the recourse to executive coaching, if we believe in what Marc Roudebush, CEO of Inspiring Workplace, who points to a recent global survey of coaching clients by PriceWaterhouseCoopers and the Association Resource center which concluded that mean ROI (Return On Investment) for companies investing in coaching was 7 times the initial investment, with over a quarter reporting an ROI of 10 to 49 times.  He further vindicates his point against such large returns as, “When they are able to walk their talk, people listen and are likely to follow suit, improving the levels of enthusiasm, trust, and team effectiveness throughout a team or organization.” 

As such, executive coaching can be defined as an executive development strategy that builds leadership and management strength which leverages existing strengths to help people become more successful in their current role and to the next level.  There are times when it is necessary for a business to build certain skills, minimize, delegate or even outsource non-strengths of top level executives.  Accordingly, we can see organizations specializing in strategic planning for other companies becoming a growing trend among all CEOs and executives with businesses.  As a matter of fact, executive coaching is designed to provide business leaders with all of the tools and support in order to make sure that their businesses running to the best of their abilities.  It is done by partnering with the coach’s experience, observations, and insights with current skill sets; and through this confidential and personalized learning process; executives are able to achieve success more quickly with superior and unfailing results.  With this, executives can rest assured that they are joining a program that is bound to pay off, and they can become better leaders, make better decisions and see results that are clearly unambiguous, specific and measurable. 

In this regard, it is stated that exchanging and sharing experience, knowledge, ideas and information with partners and other reputed counterparts can be the best way to keep any business not only running, but also relevant and successful.  Executive coaching offers one of the best and surest business choices to steer ahead your company to the path of success and glory.

Saturday, 22 June 2013

Management: The Most Critical Factor For The Development Of An Organization

There is little doubt that whatever development has taken place in any field in the world today; it is due efficient management and leadership skills.  Managers influence all the phases of modern organizations.  While sales managers maintain a sales force that markets goods and services; human resource managers provide organizations with a talented, competent and productive workforce; and plant managers run manufacturing operations that produce different things like the clothes we wear, the food we eat, and automobiles we drive.  Managers guide organizations to improve and excel in their mission to achieve new goals.  An organization achieves competitive advantage and a new brand name when its different segments are managed efficiently and properly.  That is why; we can see developed countries are having effective management systems to deal with their different affairs for all round growth and development.  As such, leadership and management serve different yet essential functions in an organization.  In this competitive business world, organizations invariably need superb management for their development and progress.  Let us have a cursory glance at certain points to underscore the significance of management in an organization.

The most important role of management is to arrange the factors of production, assemble and organize the resources, and integrate the resources in effective way to achieve desired goals.  It is obvious that defining objectives of organization clearly, there would be no wastage of time, money and effort.  It is the responsibility of the management to coordinate, direct and control in such a manner that enterprises work towards attainment of goals. 

It is the responsibility of the management to utilize all the physical and human resources in a productive way.  It ensures maximum utilization of scarce resources by selecting its best possible alternate use in industry.  Management knows how to make use of skills, knowledge and experience gained over a period of time by the experts and professionals in the organization.

Management also encourages initiative and innovation.  Initiative gives satisfaction to employees and success to an organization whereas innovation brings in new ideas, new technology, new methods, new products and new services.  This makes the organization more competitive and efficient.  As such, management strives to encourage individual activity that will lead to realization of organizational goals.

Management motivates employees through various incentives.  Through better relationship between various level of management, team success can easily be attained.  In turn, it creates scope for higher efficiency and growth. 

Reduction in overall cost is the main concern of the management.  It can achieve maximum out through minimum input by proper planning and by using minimum resources.  For this management uses physical, human and financial resources in such a manger which results in best combination.  Finally, it leads to reduction in the cost.

However, the most important role of management is to identify, nurture, and groom employees who would ultimately become future business leaders of the organization.  But, most of the managers forget this crucial role and only concentrate on running day to day business and are more concerned with increasing profitability for the organization.  In this regard, investment in change management training to create leaders with more tools in their managerial and leadership kit; goes a long way in improving the quality of the experience many have when going through change in the workplace.  Nevertheless, good change management training should ensure that trainees should develop a comprehensive understanding of change management strategy for smooth transition; they should be aware of the principles of successful change programs; have knowledge of models of change management, coaching skills for use in the workplace, increased self awareness to cope and deal with change so and so forth.  It has long been recognized that the provision of coaching for managers in organizations is highly beneficial both for the management and organization.  Good training and coaching for managers is essential.  In this regard, change management coaching is found to be the best option to ensure a smooth and effortless handling of the events generally witnessed at the time of organizational change, business review and continuity. 

Sunday, 12 May 2013

Leadership In Organization: A Quality To Be Acquired Through Proper Guidance

In simple words, a leader is someone who leads others.  He is a person who influences a group of people; maybe employees or workers, towards the achievement of a target, an object or a goal.  Who is a leader or what is leadership so far as management is concerned in today’s business environment?  After all, what are his role and functions in an organization?  Wikipedia describes leadership as a process of social influence in which one person can enlist the aid and support of others in accomplishment of a common task.  Today, leadership is one of the important functions of the management.  A manager issues orders and instructions to his subordinates to get the work done.  It is the responsibility of the leader or the manager to lead, influence or persuade others to move together as a team maintaining harmony and cooperation.  Most importantly, a leader knows how to guide his team with influence and direct his subordinates with authority.  However, thanks to his leadership quality, he receives allegiance, loyalty and cooperation from the entire group. 

A leader may be the first among equals, but, he is able to influence the group and its activities towards realization of set goals.  A leader has all the necessary qualities; honesty, intelligence and a handful of other unique traits.  Especially, he should be likeable in the organization as his actions are much in consistence with his values.  Through his guidance and directions, others in the group get purpose and directions for their effort and work.  A good leader believes in progress through cooperation, coordination and collaboration.  A leader should consider himself as a part of the team or group he leads

A good leader knows his team members and his team members look to him for his wise guidance and counseling.  In that sense, guidance or counseling can be an assistance given to fellow members to help them adjust to a particular environment.  As per the scriptures; where there is no guidance, people fall, but in an abundance of counselors there is safety.  It is more relevant today than ever before when we see business and risk management go hand in hand.  The scripture says; and your ears shall hear a word behind you, saying, “This is the way, walk in it,” when you turn to the right or when you turn to the left.  Only thing, a leader needs to live up to their expectations and unflinching trust.  As such, it involves inter-personal relation through which the members or followers receive the leader’s guidance and support in accomplishing specified goals.

As already said, a leader can be more effective if he uses leadership influence and persuasion to lead and guide his subordinates towards the achievement of group goals and objectives.  He uses his authority and power judiciously wherever it is absolutely necessary.   A good leader has many superior traits to influence the behavior and conduct of the members of his team in the interest of the organization.  Especially, he has the ability to negotiate and solve conflicts by thrashing the issues satisfactorily and without any strife.  It is important not only for the management but also for the organization; it ensures smooth functioning and creates healthy environment in the organization.

Hence, in order to maintain good harmony and understanding between the leadership and management, there should be regular meetings and proceedings.  When everyone in the group has knowledge and understanding; it becomes easy for the leader to motivate and inspire his team of management.  And we know management involves in important functions like coordinating, planning, controlling and organizing operations for the achievement of the various organizational objectives.  A leader should have the managerial qualities.  He acts as an intermediary between his subordinates and the top management.  Accordingly, everyone; the management as well as subordinates in the organization are able to receive guidance, advice and direction in every situation from their inspiring leader.