Managers' manual for the 21st century

Managers` manual for the 21st century. Balancing Innovation and Time-Tested Practices By Kehinde Fawumi (Author of Tomorrow`s Realities Today and Once Upon an Incorruptible Criminal) Published by Kehinde Fawumi at Smashwords. Discover other titles by Kehinde Fawumi by visiting his Smashwords Author Page. Copyright © 2012 Kehinde Fawumi Thank you for downloading this Ebook. This book remains the copyrighted property of the author and may not be reproduced, copied and distributed for commercial or non- commercial purposes. If you enjoyed this book, kindly refer your friends to download their own copy at Smashwords.com, where they can also discover other works by this author. Balancing Innovation and Time-Tested Practices The advent of the 21st century heralded numerous uncertainties, many of which the global community is still battling or better still, adapting to in hope of finding lasting panaceas. Employers are daily confronting the unprecedented dynamics of globalization and unfavourable economic fluctuations. Many questions are being asked as to whom to blame: the government, the private sector, the youth, or nature? While trying to focus on the solutions, some economic experts have asked more critical questions as to what a lasting solution will entail. Building on the predicament of the prevalent challenges, a more critical issue will be that of economic inconsistencies, of how the challenges of this decade may likely differ largely from those of the next; leaving the globe is state of dilemma, with just one single question: What ideas will work for tomorrow? Creativities are being birthed; ones that come from reasonable senses of destiny, new innovations and inventions emanate everyday creating more possibilities, but are these able to create the all-awaited changes the world deserve? My purpose in these pages is simple; to share my ideas on how entrepreneurs and government should balance innovation and creativity while leveraging time-tested practices to bring about sustainable changes to the greatest political and socioeconomic problems in the world. I intend to underline the simplicity of the seemingly complex socioeconomic threats of the next society – an adventure and a stream of symbolic tales of strategic managers. If I do it well—and I will do my best—I believe I will emphatically define the boundaries of the limitless economic progressions – at least for the next two decades. As much as I do not belabour the undeniable importance of the prevalent management and business principles, It is important that we consider these principles within the contexts of socioeconomic diversity and sustainability. Let me say upfront that although acceptance and implementation of prevalent management concepts like Scope, Time and Cost Management, Quality Control, Human Resource Management, Strategic Process Integration and Risk Management has led to tangible socioeconomic developments on a global basis; they may not stand the unpredictable economic challenges of the next decade. The recent economic slump is an obvious proof! There’s thus an urgent need for the intervention of business strategists and economists to specify strategic methodologies which will sustain our world in the next generation. There may be no need for new methods but applying existing ones in new ways. More critically, the paradigm of perceiving business as a profit-making venture has to be reviewed, and a value-creation perception towards sociopolitical development upheld! Should business not be concerned with making profits? Absolutely No! But profits should not form the basis of business creation. This paradigm has for long hobbled the economic development of most developing countries and now must stop for a better future. A new discovery is not in seeing new landscapes, but having new eyes. With due allowance for the vast difference between a critical issue and a tale, I wish to symbolically establish that our perception rather than economic realities has affected the economic situation in our nations. He was bitter and cruel, an alcoholic and drug addict who almost killed himself several times. Today he serves a life sentence in prison for the murder of a liquor store cashier who “got in his way.” He has two sons, born mere eleven months apart, one of whom grew up to be “just like Dad”: a drug addict who lived by stealing and threatening others until he, too, was put in jail for attempted murder. His brother, however, is a different story: a man who’s raising three kids, enjoys his marriage, and appears to be truly happy. As a regional manager for a major national concern, he finds his work both challenging and rewarding. He’s physically fit, and has no alcohol or drug addictions! How could these two young men have turned out so differently, having grown up in virtually the same environment? Both were asked privately, unbeknownst to the other, “Why has you life turned out this way?” Surprisingly, they both provided the exact same answer: “What else could I have become, having grown up with a father like that? (Anthony Robbins: Awaken the Giant Within) So often we’re seduced into believing that events control our businesses; that our environment has shaped who we are today. No greater lie was ever told! It’s not the events of our lives, or nation that shape us, but our beliefs as to what those events mean. Today, any young manager, or a start-up business might be an unfortunate son. Lamenting over the situation won’t change the reality—not for the better, nor for the worse. But by changing how we focus on a problem we can awaken our creativity and pursue a sustainable methodology to solving the problem, and who knows? That shift in perspective may uncover the solution! I believe a fundamental change we need for the next generation is a radical shift in our perspective and approach to interpreting and solving the volatile economic problems. So, what will change really entail? The present generation of social, economic and political leaders as well as managers, must provide the necessary foundations for achieving the developments that are intended to be seen in the next generation. Under this framework, and given the need for future leaders to move from ideas to action, there must be a pragmatic approach to our situations. Thus, the kind of approach we employ in confronting our present challenges will indicate the changes we will experience in the nearest future. We must invent new Qualitative approaches rather than Quantitative ones! How can we build reputation for our products in the face of unresponsive masses? I suggest by first building a reputation for the quality of the products, then providing numerous references to reinforce the beliefs of the people – even to the point that people no longer question its validity. It may surprise you that Japanese commitment to increasing quality is actually the result of an American export – Dr. W. Edwards Deming. In 1950 this renowned quality-control expert was brought to Japan by General MacArthur, who was frustrated with a war-ravaged Japanese industrial base where he couldn’t even count on being able to complete a phone call. At the request of the Japanese Union of Scientists and Engineers, Deming began to train the Japanese in his total quality control principle. Deming taught the Japanese 14 principles and a basic core belief that is the foundation of virtually all decisions made in ever successful, major, multinational Japanese corporation to this day. The core belief simply is this: a constant, never-ending commitment to consistently increase the quality of their business every single day would give them the power to dominate the markets of the world. Deming taught that quality was not just a matter of meeting some certain standards, but rather was a living, breathing process of never- ending improvements. If the Japanese would live by the principles he taught them, he promised them, within five years, they would flood the world with quality products and within a decade, or two become one of the world’s dominant economic powers. Many thought Deming’s proclamations were crazy. But the Japanese took him at his word, and today, he is revered as the “Father of Japanese Miracle”. In fact each year since 1950, perhaps the highest honour a Japanese company can receive is the National Deming Price. This award is used to acknowledge the company that represents the highest level of increases in quality of products, service, management, and worker support through Japan. In 1983, Ford Motor Company hired Dr. Deming to conduct a series of management seminars. One of the attendees was Donald Petersen, who later become chairman of Ford and put Deming’s principles into practice throughout the company. Petersen decide “We need this man to turn our company around." At the time, Ford was losing billions of Dollars a year. Once Deming was brought in, he changed the traditional corporate belief from: “How can we increase our volume and cut our cost?” to “How can we increase the quality of what we are doing and do it in such a way that the quality would not cost more in the long term?” Ford reorganized its entire focus to make quality the top priority, and by implementing Deming’s systems, Ford within three years moved from a staggering deficit to the dominant industry position with a $6 billion profit. How did they do it? They found out that the Americans’ perception of Japanese quality, while frustrating, had much to teach them. Why did these Japanese companies hold themselves to a higher standard of quality than even their contract required? They believed that quality costs less, that if they created a quality product they would not just ... - tailieumienphi.vn