III. Talent 3: A good manager can "muddle without a purpose"
According to the author, this is the most important talent that a modern manager is required to have. Paraphrasing the definition for this talent given in the article, a talented manager will always be aware of the fact that not all his programs and solutions are likely to be accepted and applied throughout the organization by the company's employees. In this sense, a good manager will recognize the futility of trying to successfully implement all his programs and will regard it as a successful venture if at least some of the programs are implemented and the movement is in the direction that he has seen fit.
This is not only something that should be related with directing and implementing, but also with evaluation and control. As such, if at the end of a certain period of time, the evaluation that the manager will perform will point to towards positive trends, trends that encourage the perspective that things are moving in the right direction, then there is no need to remain stuck with the idea that some of the programs and projects were not fully implemented. A global perspective on the corporation and the way it is progressing is preferred to an operational, minimalist perspective.
Such an approach to business and decision making is also likely to give the manager a greater flexibility in a market whose conditions and general characteristics are constantly changing. It helps in discovering and speculating on the different relationships that are formed within the organization...
A year later, Soviet's premier in collaboration with Cuba installed nuclear missiles on the Cuban island, a few miles from the U.S. This decision triggered the Missile Crisis in Cuba and many global leaders feared the possibility of a nuclear war (Blight & Kornbluh, 2007). Focalism / focusing illusion played a part in this failure As evidenced above, Kennedy's reign offers potent examples of the psychological theory about flawed focusing illusion
The concept of bounded ethicality raises the possibility that Madoff in fact did not understand that what he was doing was unethical. As an experience hedge fund manager, a rational-thinking Madoff had all the tools to understand the ethics of what he was doing, but bounded ethicality suggests that he may have not fully been able to process the situation. One bound could be a myopic vision of his own
" To that end, the Treasury Department would limit executive compensation for institutions receiving "exceptional assistance" (Geithner and Summers, 2009). Troubles continued in the financial sector -- both Citigroup and the Bank of America needed second rounds of capital infusions, and federal guarantees against losses totaling tens of billions more -- while Ben S. Bernanke, the Federal Reserve chairman, warned that more capital injections might be needed to further stabilize the
Management "Critically evaluate the usefulness of rational decision-making for managers when making strategic choices" Characteristics of strategic decisions Long-term survival of the organization Scope of organization activities Resources and competences / Competitive advantage Then strategy is concerned with the strategic fit to the external environment Stakeholders' expectations Power in the organization - The expectations and worth of powerful agents in and around the company Strategy as Rational decision making Set objectives Understand problem Determine options Evaluate options Improvement in strategic decision making Involvement of different
Managerial Accounting Managerial accountants are charged with all financial matters that do not pertain to the financial accounting statements. Within their company, they ensure that the company has good financial security, they perform analysis on costs and revenues, they perform budgeting, handle taxes, and their work is frequently used in strategic planning, whereby they provide the financial analysis to management to help make better decisions (No author, 2012). Some of the
Organizational Planning and Goal Setting Why the older, original planning and goal setting process will no longer work for H2o Solutions Today, an organization can adopt any of the three types of organizational structures; the centralized, top-down planning, and the decentralized models. Initially, H2o Solutions followed the centralized and top-down planning model. However, the model became ineffective as the company grew. H2o Solutions now needs to integrate the very employees it has
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