How to Prepare Yourself?
The company executives should remember what will be happened when one of the partner in the value chain exercise its power as well as creates major demands. For instance Walmart Stores initially required its key distributors to have radio frequency recognition labels shortly RFID tags fit-in on their entire products. By executing this Walmart expected that they can be able to save over 8 billion dollars per annum by reducing the theft activity and storing out of products. However, it charge every supplier maximum 23 million dollar to fulfill this need. Then the Walmart provided some of their suppliers a choice to the formal means of investing releases to the vendor.
Walmart told that the shift was to betterment stability of products supplies. But some borrowers show concerns about this program. The updated offers of Walmart for the providers are to grab the managing of releases from manufacturer because it trusts it can work the similar job for less. It is indeed that the manufacturers will be wanted to reimburse Walmart by providing the seller minimum wholesale prices. What is your opinion about these performs? Is it just advanced business or some other ethical issues?
Skills Exercise:
How to develop your negotiation skill?
Cooperation is a personalized skill and lots of managers use it. Managers may have to discuss for resources, they may negotiate about the salaries of new employees, calculate the differences with colleges or solving out conflicts with junior employees. Negotiation is a system of bargaining wherein 2 or more participants having different preferences definitely create joint conclusions and ultimately come to a settlement.
Steps in working the skill:
You can be able to more workable at negotiating while you will utilize the following 6(six) specific behaviors:
- You should research the person with which person you are going to negotiate collecting the information about the person as much as you can. Try to understand what is the intention and goal of individual with whom you are going to negotiate. If you can guess his or her actions and forecast his or her replies to your offers then it will be easy to you to make solutions in respect of his or her expectations.
- You must start with the positive attitude. From the thorough research it has been observed that concession like to repeat as well as lead to arrangements. Hence, you must start negotiating with an optimistic attitude and after that respond the concessions of other parties.
- Address problems which are not included with personalities. You will concentrate your mind on only the negotiation matters. You should not show your interest on personal uniqueness of any person with whom you are going to negotiating. If at any time negotiations get crash, you should avoid the habit of attacking the person. You should always remember that your disagreed ideas or location of the person are not his or her personally intention.
- You will pay some attention to the primary offers and consider the primary offer as like as just a matter of departure. Everybody must have a starting pastime which may be apt to be idealistic and you must treat it as such.
- Show interest on win-win negotiations. You should find out the integrative solution when you will get helpful environment. You will settle the issue based on the interests of the party and when you do this, you must involve the party so that you can get the chance to the declare a success in presence of the party.
- While you will negotiate with your party then you must create a friendly, open and trusted environment. If you want to be a matured negotiator, you must be good listeners, you should have the ability to place more queries, highlight their arguments openly with less defensive manner. You have to learn how to avoid the words or attitude which can annoy the individual with whom you are negotiating. It is true that a trusted and open environment is most helpful for purposeful negotiation and establishes a win-win understanding.
Habituating with the skill:-
- Select minimum 3 persons who have currently buy new or old bikes. Take the interview each of them to understand which ticks they have followed to get best deal like lowest price, maximum facilities while they dealt. Note down the points as per your enquiry and the feedback that you have got from the interview. It will help you to realize the discussing behaviors that have placed in this part.
- Reinvestigate present business periodicals from minimum two instances of discussions. The negotiations may be considered as labor-management discussions or may be buying and the selling of real estate based negotiations what you have understood about the discussion of negotiation process? You should prepare a question-answer chart to understand the matter perfectly.
Working together:
How to make team exercise?
Make groups consisting with 3 – 4 students at each group. Your task of team will be reviewed how you trust technology and how you intend to apply new technology to change the system. Particularly what is your point of view on the teaching process of your collage about technology that will come in near future say in year Two thousand Twenty? Some questions are given below to prepare you:
- Do you have any need of a college campus spreading of hundreds acres?
- Can a student enable to complete his or her graduation degree without going the campus of the college?
- How it can be possible while the technology is different in the class room?
- What devices may a student can use to develop their knowledge and to pass the time?
My time to be a manager:
Choose an organization whom you know very much and then discuss it value chain. You will be as precise as you can while you will describe. Assess how it utilizes the value chain to make value.
- Consider three instants of mass communication products. Then try to find out what fact are at the back the scenes to produce these products. Concentrate on operations organization features.
- Visit the website of ISO means International Standards Organization and collect the documentation about the ISO 9000 2008 standards. Note down the things that you need to obtain the ISO certification.
- Choose two important jobs that you have to do in each week – for example a shop for foodstuff, finding out a amusable poker party, clean you apartment or house etc and for every department you will judge how you are perfect to be more creative for performing the task and how your output from those tasks.
- Select a big volume company whom you like very much. Go through the details of that company to locate what kind of operation management strategy they are followed. Concentrate your mind on discussion what their strategy is – is it unusual or most effective or both.
- Take interview two or more varieties of managers. It will be better if you take an item from the manufacturing company and other from the service organization. Enquire them how they manage the operations and if they are facing any problem during managing the operation. Your questions will be in the view point from the features of being creative and generating quality outputs.
- The prescribed readings of Steve and Mary: Why Smart managerial can’t succeed and what you may study from their faults.
- Visit the Industry Week website and look the positioning for IW top plants as well as IW fifty best manufacturing organizations. What criterions have been used to choose the companies on this ranking? Select minimum 2 organizations from this list and explain what they are preparing. Make a printed report using this information.
- You will write down minimum 3 objects in your own language that you have learned from the discussion of this chapter as a superior manager.
- You must remember that self knowledge is an influential learning tool. You will visit the ‘my management’ website and fulfill this self appraisal task. Find out in what time of the day you are most productive. Utilizing the fallout of your appraisal you should locate personal potency and/or weaknesses and then find out what you have to do to get back your power and eliminate your weaknesses.
Links of Previous Main Topic:-
- Managing teams
- Understanding individual behavior
- Managers and communication
- What is motivation
- Managers as leaders
- Managing operations
- The role of operations management
- What is value chain management and why is it important
- Managing operations using value chain management
- Current issues in managing operations
- Case application 1 stirring thing up
- Case application 2 smooth ride
- Chapter nineteen summary by learning outcomes
- Preparing for my career managing operations
Link of Next Fundamentals of Management Topics:-