Creating a New Business Leading and Managing People University of the Central Punjab, Gujranwala Campus Management Vs. Leadership • Management is planning, organising, commanding, co-ordinating and controlling. • Leadership is concerned with setting direction, communicating and motivating (about broad principles and emotion and less detail). Characteristics of an Entrepreneurial Leader • • • • • • • • Visionary Able to communicate Able to influence, informally Able to motivate Able to think strategically Able to manage change Able to resolve or reconcile conflict Able to build confidence Characteristics of an Entrepreneurial Leader • • • • • • • • Able to work as a team Able to form deep relationships Able to generate trust Able to delegate Able to build cohesion and a sense of belonging Able to clarify ambiguity and uncertainty Able to be firm but fair Able to be flexible but consistent Hiring the Right Employees • Create practical job descriptions and job specifications. • Plan an effective interview – Core questions, open ended, hypothetical situations, specific examples, non-interview setting as well. • Conduct the interview – Breaking the ice, asking questions, selling the candidate on the company – Check references – Conduct employee tests Building the Right Culture • Respect for quality of work and a balance between work and home life. • A sense of purpose • Diversity • Integrity • Participative management • Learning environment • Managing culture during and after growth Managing Organizational Evolution Team based Management – Customer driven – Multi-skilled workforce – Information shared – Few management levels – Values and principles based – Team regulated – Training based employment – Continuous improvement – High worker commitment Managing Organizational Evolution • Communicating Effectively – Clarify your message before you attempt to communicate it. – Use face-t-face communication where possible. – Be empathetic. – Match your message to your audience. – Be organised, tell the truth, listen carefully and encourage feedback. – Don’t be afraid to tell employees about business, its performance, and the forces that affect it. Motivating Employees • Empowerment – – – – – – – – Authority and responsibility that can be handled Role of coach and facilitator, not the boss Recognizing that empowered can make mistakes Hire people that can blossom in empowerment Train workers continuously Trusts workers to do their jobs Recognize workers’ contributions Listens to workers when they have ideas, solutions, or suggestions – Shares information with workers Motivating Employees • Job Design – Job simplification – Job enlargement – Job rotation – Job enrichment (vertical job loading) – Flex-time – Job sharing – Flex-place Motivating Employees • Rewards and Compensation – Pay-for-performance compensation system – Simple, fair, inclusive, frequent payouts • Performance feedback – Deciding what to measure – Deciding how to measure – Comparing actual performance against standards – Taking action to improve performance Things to do…….. • Create a set of values and beliefs for employees and passionately pursue them. • Respect and support employees. • Set an example for employees. • Focus employees’ efforts on challenging goals and keep them driving towards goals. • Provide the resources employees need to achieve their goals. Things to do……. • • • • • • • • • Communicate with employees regularly. Value the diversity. Encourage creativity among employees. Value new ideas from employees. Celebrate workers’ successes. Value risk-taking. Understand that success is a team-effort. Behave with integrity at all times. Maintain a sense of humour.
