The Little Black Book of Management: Essential Tools for Getting Results Now
224
The Little Black Book of Management: Essential Tools for Getting Results Now
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Overview
Real-world tested, real-world proven in organizations ranging in size from global titans like Boeing and Motorola to mom-and-pops and home businesses, The Little Black Book of Management is the ideal handbook for busy executives, managers, and entrepreneurs like you.
In this unique, practical, and easy-to-use guide, you get nearly 100 potent indispensable tools, organized for ease-of-use, including: • Time management • Brainstorming • Presentations • Process management (Six Sigma, balanced scorecard) • Communication/teambuilding
Save time and money by tackling in-house such critical tasks as brand development, marketing mix, breakeven analysis, or even designing a business excellence framework. Concise, comprehensive, and organizedfor immediate access to the right tools for the job, The Little Black Book of Management is your one-stop source for all the essential tools managers need to develop the performance of their teams and organizations.
Suzanne Turner owns and manages Potenza, Ltd., a management development consulting company, and has also worked with Andersen Consulting. She currently works with a wide range of organizations from global corporations to niche providers.
Product Details
| ISBN-13: | 9780071738651 |
|---|---|
| Publisher: | McGraw Hill LLC |
| Publication date: | 05/21/2010 |
| Pages: | 224 |
| Product dimensions: | 5.00(w) x 7.90(h) x 0.80(d) |
About the Author
Suzanne Turner owns and manages Potenza, Ltd., a management development consulting company, and has also worked with Andersen Consulting. She currently works with a wide range of organizations from global corporations to niche providers.
Read an Excerpt
The Little Black Book of Management
Essential Tools for Getting Results NOW
By Suzanne Turner
The McGraw-Hill Companies, Inc.
Copyright © 2010Dr. Suzanne TurnerAll rights reserved.
ISBN: 978-0-07-173865-1
Excerpt
CHAPTER 1
Analogies—Creative Problem Solving
* When to use
When looking for alternative, creative views on a situation or subject.
* What you get
A fresh look at the issues from a different perspective.
* Time
Half an hour to about 2 hours normally provide a useful output.
* Number of people
1–15 people, groups of more than five normally produce a better outcome.
* Equipment
Somewhere to capture the developments, a whiteboard or flipchart.
* Method
1 Clearly define the issue that you are considering.
2 Identify an analogy between the issue and another issue that everyone understands.
3 Discuss the issue that everyone understands.
4 Compare the solutions/ideas and relate them back to the original issue.
5 Build on the findings to create actions.
* Example
Problem: Product introduction needs to be faster.
Analogy: Product introduction is like breaking the four-minute mile.
Relating the ideas back to the original problem.
* Exercise
Consider your vision of the future of your business using the analogy of "transportation."
* Key points
Using pictures also adds to the creativity of the ideas generated.
It is important that people get into the spirit of things—ensure the people involved are prepared to trust the process.
Don't try and shoehorn reality into an analogy. If it doesn't work, use more than one to capture all of the aspects, e.g., use the four-minute mile and the moon landing.
* Additional comments
If people are not into the spirit of things, it will be difficult to get value out of the exercise.
* Other information
There are many books on creative thinking. Some useful ones are E. DeBono, Serious Creativity, HarperCollins, 1994; R. Von Oech, Creative Whack Pack, US Games Inc., 1989; M. Michalko, Cracking Creativity, 10 Speed Press, 1998; B. Mattimore, 99% Inspiration: Tips, Tales, and Techniques for Liberating Your Business Creativity, AMACOM, 1993.
CHAPTER 2
Balanced Scorecard
* When to use
When wanting to translate a vision or strategy into specific measures and goals.
* What you get
A picture of business performance relative to the vision and strategy in four main areas or "perspectives": financial, internal, learning/growth, and customer.
* Time
To initially set up a balanced scorecard can take up to 2 months—this time will be significantly reduced if elements such as strategy and vision already exist. Once set up it is an ongoing health check on the business and will need to become part of people's everyday jobs.
* Number of people
For the initial set up, about 15.
* Equipment
Whiteboard, flipchart; placed somewhere visible to display the scorecard.
* Method
1 Define the industry, its development, and the role of the company—consider this in the time frame—yesterday, today, and tomorrow. Useful tools are 83: SWOT Analysis; 56: Option Generation; 27: External Analysis (PEST).
2 Establish or confirm the company's vision and strategy. Useful tools can be found under Strategy on the Day-to-Day Matrix.
3 Identify the perspectives for measurement that are clear and understandable for your business. The original model uses four: financial, internal, learning/growth, and the customer. Others may be added, for strategic reasons.
4 Break the vision down according to each perspective and formulate overall strategic aims. Use the table shown on the page opposite as a guide.
5 Identify the critical factors for success.
6 Develop measures with which to evaluate these factors. Consider carefully the interactions between the measures; Tool 84: Systems Thinking provides a useful method. Also to identify any unwanted effects of the measures, there is value in putting each one through a Tool 78: Solution Effect Analysis.
7 Analyze the measures as a whole to ensure they provide a "balanced" picture.
8 Establish a comprehensive, top-level scorecard, and gain approval in the organization (you may be required to provide background to the scorecard's development).
9 Take the top-level scorecard and create more detailed cards throughout the organization, translating strategy down to day-to-day tasks.
10 Formulate goals for every measure used. Ensure that there are both short- and long-term goals.
11 Develop an action plan to achieve the goals and strategy that have been set. Prioritization will be key.
12 Continuously review; use as a dynamic functioning part of people's daily jobs.
* Example
Adapted and reprinted by permission of Harvard Business Review. Exhibit from "Putting the Balanced Scorecard to Work" by R. S. Kaplan and D. P. Norton, September–October 1993, p. 139. Copyright © 1993 by the Harvard Business School Publishing Corporation, all rights reserved.
* Exercise
Develop a high-level balanced scorecard for a supermarket.
* Key points
The process of developing a scorecard is as valuable as the scorecard itself.
Companies should not try to shoehorn existing measures into the scorecard; they must take a new look at the business and develop both financial and nonfinancial measures accordingly.
Viewing the company from different perspectives and different time dimensions provides a unique understanding of the business.
Linking strategy to actions and measuring this on both a financial and nonfinancial basis provides a more balanced approach to business development.
* Other information
Concept developed by R. Kaplan and D. Norton, Translating Strategy into Action, The Balanced Scorecard, HBS, 1996. For a practical guide see N. Olve, J. Roy, and M. Wetter, Performance Drivers, A Practical Guide to Using the Balanced Scorecard, Wiley, 1999.
Adapted and reprinted by permission of Harvard Business Review. Exhibit from "Putting the Balanced Scorecard to Work" by R. S. Kaplan and D. P. Norton, September–October 1993, p. 139. Copyright © 1993 by the Harvard Business School Publishing Corporation, all rights reserved.
CHAPTER 3
Benchmarking
* When to use
If you are interested in learning, from other organizations, ways to improve your own organization.
* What you get
A disciplined approach to assessing and improving the performance of the business in critical areas.
* Time
To do properly it requires substantial investment of management effort. This is because it is a continuous process and, to benefit from it, changes must be made as a result of the findings.
* Number of people
This will vary depending on the scope of the study. As a general rule, it is worth involving a broad selection of people.
* Equipment
Somewhere to visibly display the findings.
* Method
1 Define
a. Select the area to be studied.
b. Define the process that is to be benchmarked.
c. Identify potential benchmarking partners.
d. Identify the data required, sources, and appropriate methods of collection.
2 Analyze
a. Collect the data and select benchmarking partners.
b. Determine the performance gap.
c. Establish the difference in the process.
d. Target future performance.
3 Implement
a. Communication and commitment.
b. Adjust targets and develop improvement plan.
c. Implement and monitor.
4 Review progress and recalibrate.
There are a number of different ways in which this process can be followed; the table highlights some of the trade-offs that need to be considered before embarking on a benchmarking exercise.
* Example
Ways to conduct benchmarking: Direct exchange: Written questionnaires, phone surveys, teleconferences and video link, interviews.
Site visits: Validations and extension of concepts.
* Exercise
Benchmark your favorite sports team. Remember that its performance is unlikely to be due solely to the ability of individuals. Instead it will be a combination of individuals' ability, teamwork, the tactics used, and other factors.
* Key points
Benchmarking is an ongoing process for continuous improvement.
Benchmarking Code of Conduct—Never ask for something you would not be prepared to share in return.
* Additional comments
It is important not just to meet the standards but exceed them in critical areas of the business in order to truly gain competitive advantage.
* Other information
Developed from, and for further information, see S. Codling, Best Practice Benchmarking, Gower, 1995; S. Codling, Best Practice Benchmarking—An International Perspective, Gulf Publishing Company, 1996; S. Codling, Benchmarking, Gower, 1998; http://www.benchmarking.co.uk.
CHAPTER 4
Brainstorming
* When to use
When an issue or problem would benefit from the fast collection of creative "group think."
* What you get
A wide variety of ideas in a short space of time. Based on the concept: "The best way to have a good idea is to have lots of ideas."
* Time
From 15 minutes to 1 hour.
* Number of people
For best results 3–20 people.
* Equipment
Somewhere to visibly display the ideas that are generated. It is also worth having the rules of brainstorming visible. The rules are on the opposite page. It is important that they are enforced.
* Method
1 Clearly state the problem or topic and make sure everyone understands.
2 Ask each team member to present his or her ideas, one at a time, in sequence (team members can pass if they don't have an idea).
3 Record all of the ideas exactly as given. No judgments are made until the end of the session.
4 After all of the ideas are listed, check for clarification by the team member.
5 The group then examines each idea in turn, expanding them and perhaps combining or eliminating some.
6 It may be possible to then group the ideas and put them under headings, which can then be used as key areas to take forward.
* Exercise
Brainstorm ways to improve your business.
* Additional comments
There are a number of different ways to run brainstorming sessions in addition to the one described in point 2 above, however, the rules remain the same.
With Post-its: Everyone writes as many ideas as he or she can think of about the specified topic or problem on separate Post-it notes. These are then stuck on the wall for the whole group to see. The Post-its are then grouped by subject or headings.
For a large group: If you want to consolidate ideas from a large group, it is also possible to run it in subgroups. In a similar way to the Post-it note version, each individual brainstorms the key issues and captures them. These ideas have to be then shared with someone else and a consensus has to be reached as to the most important points (ideally about five points). These (five) most important issues are then shared with another group and again consensus as to the (five) most important has to be reached. This process of combining the important few from two groups and then selecting the most important to go forward is continued until the whole group combines to agree on the most important issues.
Using pre-work: Sometimes it can be useful to ask people to brainstorm an idea before they get together in a session. This enables the more methodical thinkers the time they may need to think through an issue. Everyone's ideas can be combined and developed as per stages 5 and 6 of the method.
* Other information
Concept originates from Alex Osborn, 1953.
CHAPTER 5
Brand Development
* When to use
When developing your company's brand as part of a marketing strategy.
* What you get
A framework around which the brand can be developed.
* Time
To develop the framework will take about half a day; the research and actions that result will take substantially longer.
* Number of people
Ideally, 9–20 people, including a wide cross-section from customers, suppliers, and across the business to provide a balanced perspective.
* Equipment
Somewhere to capture the output.
* Method
1 Identify all of the groups of people who are touched by the branding. Tool 80: Stakeholder Analysis or Tool 4: Brainstorming would help here. Group the stakeholders into like mindsets.
2 Consider what image you want these people to have of the company or product. These will include tangible and intangible elements. For example, quality, feel good, environmentally friendly, safe, value. Group the factors into manageable sets.
3 Carry out some research in each of the stakeholder groups to understand where the brand currently rates on each of the issues.
4 Plot the findings against theideal brand image that you are looking for from stage 2. Tool 69: Radar Chart is good for this.
5 Complete the diagram on the opposite page, considering carefully what each of the groups of stakeholders would need to experience to believe the brand you are aiming for. For example, questions like: As a customer what would prove to me that the company is ...?
6 Create an action plan to move the brand toward the desired brand image. (This may require further exploration into what would change the brand image in this area for these people.) Questions to aid the development of an action plan: Who and what is it that projects the brand of the business? Who needs to be responsible for changing it? Is it feasible to move the brand, or would it be more beneficial to start up a new business branded differently? Is the brand in line with the business strategy?
* Example
For a chocolate bar.
* Exercise
Develop a brand development strategy for a new high-quality airline.
* Key points
Brand is made up of a number of different elements and is tied intrinsically to the individual or group perception.
The brand image you are aiming for will affect where you advertize, market, and sell the product or service. It will also impact how you price and package it. The brand needs to be readily identifiable, e.g., Rolls-Royce, Microsoft, or Virgin.
You can use more than four groups of stakeholders for a more focused approach.
* Additional comments
Building a brand is often harder than destroying it. Take for example the leader of a health company; all it would take would be one cigarette to undermine the brand.
Branding issues often follow acquisitions, i.e., should we rebrand the acquired company's products or services, or should we continue to use its name. Using a large number of trading names within a group will weaken the branding.
(Continues...)
Excerpted from The Little Black Book of Management by Suzanne Turner. Copyright © 2010 by Dr. Suzanne Turner. Excerpted by permission of The McGraw-Hill Companies, Inc..
All rights reserved. No part of this excerpt may be reproduced or reprinted without permission in writing from the publisher.
Excerpts are provided by Dial-A-Book Inc. solely for the personal use of visitors to this web site.
Table of Contents
Contents
Preface....................
Acknowledgments....................
Introduction....................
Project Matrix....................
Day-to-Day Matrix....................
The Tools....................
1. Analogies—Creative Problem Solving....................
2. Balanced Scorecard....................
3. Benchmarking....................
4. Brainstorming....................
5. Brand Development....................
6. Breakeven Analysis....................
7. Business Design and Improvement....................
8. Business Ethics....................
9. Business Excellence Framework....................
10. Cause and Effect Analysis....................
11. Change Cycle....................
12. Climate for Change Indicator....................
13. Communication....................
14. Competitive Product Placement....................
15. Competitor Analysis....................
16. Concept Fan....................
17. Creating a Financial Business Case....................
18. Creating Commitment....................
19. Critical Path Analysis (CPA)....................
20. Cultural Audit....................
21. Customer Focus....................
22. Decision Mapping....................
23. Decision Tables....................
24. Design of Experiments (DOE)....................
25. Diffusion of Innovation....................
26. Effort Impact Graph....................
27. External Analysis (PEST)....................
28. Failure Mode Effects and Criticality Analysis (FMECA)....................
29. Fault Tree Analysis (FTA)....................
30. Five Whys....................
31. Flowcharting....................
32. Forced Combinations....................
33. Forced Pair Comparison....................
34. Force Field Analysis....................
35. Forward Measurement....................
36. Gantt Chart....................
37. Hazard and Operability Studies (HAZOP)....................
38. Histograms....................
39. Housekeeping—5S....................
40. Improvement Cycle....................
41. Improving Group Communication....................
42. Influence and Control....................
43. Influence Diagrams....................
44. Input Output Analysis....................
45. International Business Context....................
46. International Etiquette....................
47. Just In Time (JIT)....................
48. Learning Styles....................
49. Manufacturing Benchmarks....................
50. Marketing Mix....................
51. Measurement and Accountability....................
52. Measurement Guidelines....................
53. Meeting Management....................
54. Networking....................
55. Optimized Production Technology (OPT)....................
56. Option Generation—TOWS (Threats, Opportunities, Weaknesses, and Strengths)......
57. Order Qualifiers and Order Winners....................
58. Pie Diagrams....................
59. Power Maps....................
60. Presenting—Communication....................
61. Pricing Strategies....................
62. Prioritization Matrix....................
63. Process Control Charts....................
64. Process Mapping—IDEF....................
64. Process Mapping—IDEF....................