Applying Business Management Principles- The Best Practices 2007

KRANNERTSCHOOL OF MANAGEMENTApplying Business Management Principles:The Best Practices2007 Annual ConferenceIndiana County CommissionersKRANNERTSCHOOL OF MANAGEMENTI. What are the Basic Management Principles?A.Planning1.Strategic planninga.Situational analysis –S.W.O.T.b.Vision and mission statementsc.Shared values statementd.Goals, action plans, metricse.Two-five years, may be a “rolling plan”2.Operational planninga.Forecastingb.Schedulingc.Proceduresd.Budgets (link to strategy)e.One year or lessKRANNERTSCHOOL OF MANAGEMENTB.Leading1.Inspiration and motivation2.Assignment of responsibility/authority and delegation3.Communication4.Integrity and ethics5.Development of people6.“Power” sourcesa.Rewardsb.Punishmentc.Expertised.Positione.CharismaKRANNERTSCHOOL OF MANAGEMENTC.Organizing1.Structure –several options2.Job design/descriptions3.Committees/task forcesD.Controlling1.Measuring performance –metrics, deviation analysis2.Performance appraisal and compensation3.Monitoring4.“Reasonable” flexibilityKRANNERTSCHOOL OF MANAGEMENT•Benchmark excellence•Use the internet, read books and magazines•Attend conferences, networkII. How do We Determine Best Practices?KRANNERTSCHOOL OF MANAGEMENTIII. Best Practices: Good to Great, Jim Collins1.Top leaders usually come from the inside2.Focus on what not to do as well as what to do3.Greatness is a matter of choice, not circumstances4.Leadership is critical –need to be: modest, competent, passionate, self-effacing, results oriented, energetic, driven; (level 5)5.Avoid ruthless actions whenever possible6.Compensation should be used for recognition and retention7.The “right people” are your most important assetKRANNERTSCHOOL OF MANAGEMENTIV. Best Practices: The 7 Habits of HighlyEffective People, Stephen Covey 1.Control your environment, be proactive2.Know where you want to go3.Prioritize and delegate4.Collaborate –seek win-win solutions5.Diagnose then act6.Value teamwork and synergies7.Practice life long learning