How Crucial It Is to Train Managers

No one can deny the importance of training managers in today’s world. Organizations are striving hard to gain competitive advantage and in this regards, managers have a significant role to play. Mangers are placed at such a crucial position in an organization that their efficiency and productivity can lead to organizational productivity and if they do not perform well, then this could hurt the overall performance and productivity of the organization. This is one of the reasons why employers have focused so much on training managers.

The literal meaning of word “Training” is basically the process of learning and managers face different situations and issues in their every day’s life. Everyday managers are taught new lessons because of the situations they have to face in their routine activities. They have to deal with top management of the company as well as ensure that the subordinates working under him complete their tasks on time. They have to listen to what the top management is saying as well as the managers have to understand t he problems faced by his subordinates and it is up to him to manage and tackle all these situations. So, it cannot be wrong to say that managers during their everyday job are going through the phase of training as they are learning new things and learning the art of managing people.

Apart from this kind of learning that managers undergo, organizations focus on giving formal training to managers as well. Formal trainings can be categorized into different types; classroom training, simulation training, mentoring or coaching, seminars, presentations etc.

All these types of training are important in polishing the skills of a manager and in making him more efficient, more productive and better in managing his subordinates who are working under him. An efficient manager is able to motivate his subordinates, appreciate them, encourage them and most importantly he is able to make employees working under him perform the assigned tasks on time with perfection. Therefore, it is integral for the organizations to train managers as it will lead to increased productivity of the overall department and thus overall organization.

Training has become an integral part of every organization as it helps in improving the organizational productivity and efficiency. Managers are placed in the mid of the organizational structure as they have to deal with the employees working under him as well as understand the goals and objectives of the top management and thus, if they are trained then it will help the organization in achieving overall productivity of the organization.

Policy Management – Helping Business to Bloom

What difference would it make to a new business if its founders can boost their innate management capabilities?

To answer that question, we need to start by acknowledging that a key success factor for new new business is demonstrated management strength. Quite simply, while entrepreneurs can quite rightly claim that businesses of any size can (and far too frequently, do) experience managerial weakness, ultimately, it is a poor signal if a new venture is suffering this growth constraint.

The good news, however, is that the growing discipline of policy management means management weakness need not be a death sentence to a new business, where founders are running at million miles an hour, providing the growth energy (and in many case, covering several senior roles) that provide the impetus for growth.

How does policy management impact on the growing business?

Theoretical models typically describe four or five stages of corporate growth, from start up to maturity. Most models envisage that, at around the half way point, a milestone is achieved where organisations formalise their management by adopting written policies, plans and budgets, standardising their personnel policies, computerising their records and job descriptions, scheduling training and instituting control procedures.

At this stage, policy management becomes vital. That is, the growing organisation must develop and manage its policy and procedures manuals in ways that ensure employees, contractors and other stakeholders can access the information they need to ensure business is conducted exactly as the organisation requires.

The first advantage of policy management is, clearly, that managers can be assured their staff members know the rules of doing business for the company. But also important is that policy management ensures that important training or refreshers on key policies and procedures are scheduled and managed, as a means of giving staff as much exposure as is required to make its policies and procedures top-of-mind.

It takes a skilled manager to steer the company through the formalisation process – as few staff willingly transition to a more structured environment.

Conversely, it is vital for investors (who are keen to reduce the risk on invested cash) to be confident that the transition will occur, and will occur relatively smoothly.

Traditionally, investors have looked to the management experience and depth of key personnel in the organisation, to assure themselves that the business is aware of the relevant best-practice processes, and that the methodology is in place to ensure these processes are being (or will be) implemented in that business.

This knowledge simply reduces the risk profile of the growing business.

But what every entrepreneur – and indeed, every manager – needs to know is that much of the challenge of formalising and implementing processes is simply operational. In turn, this means that those who lack innate management strength or experience can bolster their capabilities by bringing in a trusted third party who possesses the operational skills to identify relevant best-practice policies and processes, and implement them within the business.

Companies will already be in contact with some of the business and service groups providing this kind of management assistance. In the first instance, companies might turn to management consultants, accountants or lawyers. There are also outsourced services – such as PolicyPoint’s policy management services – that help supply professional rigour to companies’ processes. PolicyPoint, for instance, can help organisations define the policies most critical to their needs and the personnel needing to know those policies, as well as managing the process of staff education about those policies.

The service has been used with great success by small businesses, as well as mid-sized businesses who need to profoundly change their corporate culture.

For instance, Konica Minolta used the service to support their goal of building a wholly new, more competitive business processes. Using the system, the company was able to gently but firmly insist that employees rise above their innate resistance to change, and participate in the change, including by becoming conversant with what was expected of them.

On a larger level, firms such as KPMG use the service to achieve particular outcomes, such as rapidly embedding new procedures in response to changed regulatory requirements.

Of course, policy management cannot solve all the challenges of managing a rapidly-growing or changing organisation. What it can do, however, is reduce some of the management burden associated with growth – that is, ensuring the business has the ability to identify and efficiently implement the policies and procedures required for effective operations. For managers of these companies, one means of boosting their management capabilities is leveraging the management expertise of their advisors, as well as by calling on third party services such as PolicyPoint’s that can help identify the policies required, and ensure key personnel receive and embrace these policies.

Managers need to be reminded that this help is available – often, simply for the asking – and can make a world of difference to the company’s ability to attract funding and sustain growth.

Basic Investment Tips: Avoid The Critical Mistake Of Turning The Best Investment Ideas Into Gambles!

During these tough times of economic struggle, people are advised to do their homework and strategize to decide on the best investment ideas. Without enough knowledge, experience, and understanding, in the fields of finance and money management, even the best investment ideas can turn into gambles. By gaining more information and experience, you will be able to spot a good investment vs a good-looking investment that turns out to be a lemon.Investing can be intimidating to the novice because of the perceived risk. But the more you understand and the more you can predict your results, the more certainty, and the less risk. A smart investor has several things to consider when choosing an investment vehicle. One has to first consider their personal financial status and objectives. The following are other factors the savvy investor needs to take into consideration.1. How much is available to invest without causing financial distress?
2. Do you want a long-term or short-term return on your money?
3. Should you invest in stocks, commodities and/or real estate?
4. What is the outlook of your choice?
5. Domestic or Global?Real estate is one of the best investment ideas if not the best one can pursue. It accomplishes a couple of things. It provides the basic need for shelter and it also appreciates in value over time based on location and maintenance. Real estate is the biggest investment most people make in a lifetime. Location is the prime consideration among other factors that determines the rate of return. Real Estate also carries less risk than many other investments because the market fluctuates less than the stock market. When treasury bills and the stock market are up real estate is down and vise versa. Aside from the primary residential investment, rental property is also a good bet. Despite what the picture looks like today, there are many successful real estate investors who have made a very comfortable living in this arena.Stocks and commodities can become a bit more complex because there are so many to choose from and the stability of them fluctuate more frequently. Some fluctuate from day-to-day. Stock is a form of fund-raising for businesses and they offer return indexes for the investor. Commodities are products of similar quality sold by several or many companies. An example of a stock investment would be purchasing a few shares of Google whereas a commodity example would be oil.There are many familiar stock brokerage and real estate firms for the novice to consult with. Education is the key and expert advice is recommended before diving into this ocean of dreams. For the new stock investor a mutual fund may be advised, because it pools investments with other investors and most times spread your investment between several businesses. This creates a level of security against huge losses. In today’s market a list of good short and long-term investments follow:1. Energy (oil, solar, wind, electricity & water)
2. Gold & Silver (copper and other metals follow)
3. Major successful corporations and promising small to medium-sized businesses
4. Real estateRegardless of which area you choose one thing to keep in mind is not to limit oneself to domestic investments especially where the dollar is concerned. With its decrease in value, global investments may be something to consider. It is always good to invest at home, but in a struggling economy, one has to look at the big picture to get the most out of the best investment ideas.