Sunday, October 27, 2019
Personal development as a strategic manager
Personal development as a strategic manager Introduction: This discussion is all about: The main areas of discussion in this essay are individual abilities required to achieve the strategic ambitions, additional qualities required for being able to acquire personal leadership development for supporting achievement of strategic ambitions, having abilities to understand the effectiveness of leadership development plans and support the work environment that supports organization values. For any organization, it is extremely important to understand the hurdles of success which is generally profitability. Role of strategic manager in the organization: The strategic manager is the person who can understand the nature of business, life of business, major and minor issues related to the business, so in order to gain maximum profit every organization must have strategic manager. The strategic manager follows SWOT analysis and prepares strategies for his organization. Initially the strategic manager must have special skills (abilities) which he has to maintain, evaluate and also justify the outcomes of those skills (strategies) on the units or organization. This essay is focusing on a company named Tata Strategic Management Group Mr. Ratan N Tata is the chairman of Tata group since 1991. He is also the chairman of major Tata companies such as Tata Steel, Tata Motors, Tata Tea, Tata Consultancy Services, Tata Power, Tata Teleservices etc.. During his tenor the TATA group has earned total revenue of $67.4 billion in 2009-10. The Tata Strategic Management Group (TSMG) is a Mumbai-based consult company that position among the peak three management consulting company in South Asia locates up in 1991 as a separation of Tata industry. TSMG has accomplished over 500 schedules with more than 100 clients across countries and industry sectors. More than 60 per cent of TSMGs business comes from non-Tata clients and 25 per cent from global consumers. The group has held business in Sri Lanka, Bangladesh, the Middle East, Germany, the UK and the US. Tata planned has a team of more than 70 consultants. Section 1 : Be able to identify personal skills to achieving strategic ambitions The strategic manger requires build on his management skills and focusing on the needs of implement the managerial strategy. Strategic ambitions play a role of driver for improvement in the organization. These ambitions are comprise of some positive thoughts and negative thoughts. Strategic ambitions are to be design the quality into the structure of the organization, plan and control improvements, assure improvements and position the organization in the market at pinnacle level. 1.1 : Analyze the strategic direction of the organization To be a successful strategic manager, one should have clear vision and clear idea of the mission which the organization wants to achieve. He has to prepare strategies for the profitability and growth of the company. As no organization can achieve its goal unless the stages of achievement are not clear, so strategic manager has to understand the stages of progress as the management is the process of number of decisions. And when he become eligible to identify the achievements, he can set up new goals and of course by this only they can identify the process of strategies. 1.2 : Evaluate the strategic skills required of a the leader to achieve the strategic ambition The strategic manager needs to recognize the achievement of ambition so he understands how his strategies are working in the business, whether his strategies lead to the organizational goal or not and also these strategies are obliging to him for the future strategic management. He needs to check the positive result of the strategies with the help of identifying the ambitions. 1.3:Assess the relationship between existing, required and future skills to achieve the strategic ambition Ambitions are made with some normal opinion or ideas which can also consist of risk. Strategic manager can not make any thoughts or strategies. There might be chances of negative effect of strategies made by strategic manager. And if the strategies fail it not only affects to the growth of strategic manager but also whole organization. As an individual, it is more important to be alert of negatives of strategies. If a strategic manager is not able to identify the strategic ambitions, then it would be very late to get better the wrong decisions made by him. Example The Tata Strategic Management Group suggests clients in the areas of plan formulation, policy exploitation, arrangement improvement and company analytics. When Tata strategic management group was establish on 1991, it was running completely in the strategy spce and worked about with Tata group companies. Now a day, it is increase over moderately a few industries, and has clients from crosswise the India and all over the world. Mr. Raju Bhinge chief executives of Tata strategic management group have formed the companys target. The target of the company for 2010 was to become a chief Indian global management consulting firm, with minimum 10 lines of business, a occurrence in 10 countries and more than 50 per cent of income from other countries. Right now Tata strategic management group is given that its services in west Asia and south Asia .in adding up to India this are a focus for the more students or clients around the worldwide world. Section 2: Be able to manage personal leadership development to support achieving strategic ambitions 2.1: Discuss the opportunities to support leadership development The achievement of strategies depends on the completion of the strategies. Goals of the company are exaggerated by the application of strategy in different industries and other factors. For this reason, at this phase it is more important for the planned manager to develop a control to support the ambitions. In the big organizations there are many people to create strategies so one has to develop himself from a very start to have own strategies to work with the other employees, he should have control power on his resolution making skill and applications of certain plans. This not only involves benefits of individuals receiving success fast but also a heavy risk of getting responsible. In such circumstances, when one manages relationship with the same level employees and also encourage others as a group requires great strategies as this is something away from the common managers. This leadership quality for achievements of ambitions is itself a top strategy because it also involves man agement of human resources. 2.2:Construct a personal development plan to direct leadership development The other issue that went in the support was that while it was simple to indict a McKinsey for a project plan, that was very, comfortable to keep their services right throughout conclusion. With TSMG, on the further hand, each project shaped a kind of symbiosis that the client has a company that would happily be a partner in accomplishment, while TSMG gained learnings that were much richer than their western counterpart could get jointly. To give its service a clear benefit, Tata strategic management has decisive on construction expert teams. Pankaj Gupta, exercise head for customer and retail, elaborate, In many cases, company add technological expert to our plan teams Ã¢â¬â people who have actually been in higher status of companies for next few years in automotive, customer products. This is a very tough differentiator that sets Tata strategic management groups services except for from and on pinnacle of those of its competitor in the market. 2.3 Devise an implementation process for the development plan The first project that Tata strategic management group took up within the group was a policy study for the Tata Oil Mills which was linked in its sale to Hindustan Lever. after that came the study for restructuring Voltas, the policy study for LakmÃ © which lead to the sale of the comprise business to Unilever, the gaining of Little Woods Ã¢â¬â a English-owned retail series in south India Ã¢â¬â and Trents hooked on attire retail throughout Westside and Food Grocery retail all the way through Star Bazaar. Tata strategic management group work on the attainment of VSNL, its broadband entrance plan and business data services expansion strategy; it up to the business drawing for the groups right of entry into shopper electronics business, provided JV cooperation and performance support for the arrangement of Infiniti Retail. Tata strategic management group also worked on the whole plan for the Tata Sky satellite television service project. Quite a few of these experience opened new opportunity, enable Tata strategic management group to move out of its satisfied home lawn into other Tata companies. Last economic, other Tata industry comprise 10 to 15 per cent of company At present, non-Tata production is more than 50 per cent and is projected to make more than 70 per cent at the end of the next year. From 2005, on the start of capability developed in-house, Tata strategic management group start offering few of its services to hard markets such as the America and the London. It has three aid for that markets. One is strategic study for sympathetic country compilation markets, competitor approach, etc. The second is financial research, which includes work on opinion, equity, fixed income, etc. Third is mathematical optimisation or an analytical solution, which comprises risk modelling and projecting modelling, like fraud in telecom or risk study in insurance. With its new business model and internationalisation strategy well on track, Tata strategic management group has comprehensive its core competencies and is rousing into completely new areas of process. No doubt that the company is being motivated and dreaming big for the future. Section 3: Be able to evaluate the effectiveness of the leadership development plan 3.1: Assess the achievement of outcomes of the plan against original objectives It is very essential for an alive organization to appraise the effectiveness of the leadership development. In the market every organization has its competitors and it becomes very difficult for it to beat from it or maintain its position in the market among the others. The best way to maintain its standing or position among the other competitors is to check the effectiveness of the strategies the steps taken by the organization. Sometimes it becomes necessary the evaluation for the benefit of the company. Example: In case of TSMG, they had their own space to move with. This also guided them to compete with existing giants in their own field of serving companies for strategies primarily of deciding the group of companies they can cater. Detailed contents: Although the only Indian management consulting packed in of significance, Tata strategic management group have created a place for the company, and enjoys a private positioning. But the journey has not been an easy one. Even if the anxiety enjoyed by the Tata brand did offer the right qualifications and helped the corporation set up its lineage the real challenge has been judgment customers from the combination. In like to Tata group companies, for example, were reluctant to work with Tata strategic management group, have a threat of a difference of notice and in view of the number of areas the 93-corporation cluster has an incidence in, this has been a massive handicap. But Tata strategic management group did find out a way out, by touching into part where the group was not represented. 3.2:Evaluate the impact of the attainment of the of objectives on strategic ambitions At the final examination, this restriction has proved to be a support in costume. Tata strategic management group put in an extra effort to piece out a balance and corroborate its bravery Of path, being an Indian company with Tata main beliefs had its recompense too because next to a McKinsey or a Deloitte, customers were pleased to work with a company that delivered quality, was easy to get to during the grounding and operation stages of the mission, and was sensible too. 3.3:Review and update the leadership development plan Bobby Pauly, an engagement manager at Tata strategic management group, explains that the Ã¢â¬Å"Indian customers rapidly exposed the soothe of working with a coalition of consultants which had an added connected view of their society, markets and people, and an ability to relay to them. Tata strategic management group open actionable solution, in its place of providing them a western view of the world. Section 4: Be able to advocate staff welfare environment that supports organizational values 4.1: Evaluate the impact of corporate commitment to staff welfare on organizational values In any association there should be a proper message between peak level management and the bottom line employees. Because if there is some gap between them then employees get unhappy within the unit this leads to discontent and it ultimately leads the strategies of any business open to many. In the strategic management there is a chain of strategies and once the link is broken it creates a big problem for any organization. The achievement of goal of the organization becomes very difficult. Strategies involve many long processes and once it affected at one stage it vanish the process till the end stage. It is the duty of a strategic manager to provide the environment in the organization which is more comfortable in terms of competitions and cooperation. The employees must be aware of organizational value rather than personal growth too. The team work in the organization is therefore a unique feature of such strategies to be successful. The strategic manager should think of the followin g criteria: A healthy competition Cooperation Money involved Learning opportunities Opportunities of growth Work appreciation Safety at wor 4.2:Discuss how a staff welfare environment can affect achievement of organizational objectives For any organization it is very significant to create s staff benefit atmosphere for the employees because if there is no proper working environment then they can not achieve well and it became hard for the organization to achieve the goal and objective of the company. To create a welfare staff atmosphere company should have to provide some training to the staff. It should have to provide some technical knowledge in order to get better their technical information which helps them to make job easy. They have to create some training program in the house or out side in other organization. They have to provide some extra information like physical condition and safety or medical check up etc. To inspire the employees company have to provides some extra services to the employees like free somewhere to stay , subsidy , free power , free teaching for the children etc. this all steps will help to organization to create a staff benefit atmosphere and it also help to achieve the objectives of t he organization. 4.3:consider the influences of a corporate commitment to staff welfare on the development of organizational values Every association has to do some promise in order to get better the staff welfare on the growth of organizational value. Tata steel has shared 378.4 million of wealth to make the welfare of the staff during the reporting year. They have exceeded their targets on employee key performance measures like employees satisfaction and economic value addition. They are also targeting on customer satisfaction as well. Company have no hesitation on creating a better off, cleaner and happier for the staff but they also recognize that there is yet considerable scope for improvement. Another main point is Tata steel is contribution its all vision and goals with the every employees of the organization that is why if the vision is clear for everybody it will help to get success and also help to create more value of the organization in the current market. Incorporation with TECS A march in this approach was the up to addition of Tata Economic Consultancy Services (TECS) with Tata management group services in April 2006. TECSs skill dishonesty in savings not obligatory infrastructure and control sectors and totally complement the knowledge Tata strategic management group has in rule. Tata strategic management group lacked a spotlight in infrastructure and government perform a gap that Tata monetary Consultancy Services can block. Together their knowledge could drag in a huge number of road and rail network projects. Communications spend have by now seen an increase in India and Tata strategic management group (along with TECS) has been engaged in no fewer than six SEZ homework. While Tata planned management group look after of condition and brand, the techno-possibility aspects Ã¢â¬â include plan strategy and the structure of the capability Ã¢â¬â are manage by TECS. The going away is good now, but what dishonesty ahead? Consulting is a chronic industry related to in general fiscal situation. What does it mean for the organisations growth plans? Binge is silently convinced, The pressure is there, but we have been capable to ease them by as long as a broad variety of solutions to consumers adding up new offerings in company analytics, and rising in the global liberty. Tata Strategic Management Group, it appears, is prepared to take centre step. Conclusion: Strategic management plays a extremely important position in any organization development within very less time period and for that following points are very important: Effective role of strategic manager in the organization He should be able of recognize his ambition, view, strengths and weaknesses. Strategic manager should be a good leader in the organization and make strategies for the achievement of goal of the organization. He should be a good assessor to check whether his strategies are gainful for the company or not, whether the strategies followed by the organization becoming productive for the employees or not and also maintain position of the organization in the market. The ideal model of SWOT is something which is of necessity needed to be unstated and applied by any Strategic Manager to get the success. Attractive problems, Inventive solutions Tata strategic management group has undertaken some consult project for few of the top names in corporation. These contain British Telecom Tata strategic organization group do a customer insight plan for their business assistance. British Telecom was looking at international clientele, to effort and understands their data network needs. A progressive work out it appears as one of the best practices of consumer thoughtful, and has been useful in dozens of their international companies. Rolls Royce Rolls Royce comes to Tata strategic management group with a stimulating problem. The plant of Rolls Royce Norway had reached its full ability and they were look for a new global developed centre in India or China. Tata strategic management group complete the India case, and certain the company that India is better in compare to China. Mumbai Railway Corporation The central rail section of Mumbai was preparation to construct an innovative 80,000 sq metre position structure at Carnac Bunder, to give out as a second position linked to the main railway station of the city named Chhatrapati Shivaji in Mumbai. Tata Economic Consultancy military is supporting Mumbai Railway Vikas Corporation to go into at the finest land use mix for commerce growth along with architectural plans for a Global class railway station.