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Five Steps to a Strategic Plan

Five Steps to a Strategic Plan | Jacob McManus' Management Center | Scoop.it
It’s hard to accomplish anything without a plan. Whether you’re coaching a football team, cooking Thanksgiving dinner, or running a small business, you need a strategic plan.
Jacob McManus's insight:

Strategic planning is essential for daily use in and outside the workplace. There are 5 different basic questions to ask yourself for better strategic planning, these include determining where you are, identify whats important, define what you must achieve, determine who is accountable, and review.  These should be the basic questions when coming up with a strategic plan. 

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Rescooped by Jacob McManus from The Billy Pulpit
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Target Cheaper Than Wal-Mart in August

Target Cheaper Than Wal-Mart in August | Jacob McManus' Management Center | Scoop.it

Via Bloomberg:

 

Target Corp. (TGT) is living up to the second half of its “Expect more. Pay less.” slogan by winning the latest round in its pricing battle with Wal-Mart Stores Inc. (WMT)

 

Target this month had lower prices than Wal-Mart for the first time since October, according to research conducted by Bloomberg Industries. The Minneapolis-based chain also led by its widest margin since the monthly study began two years ago. The study examined the gap in average price across a basket of 150 like items at stores within five miles of each other.

 

The discounters are fighting for U.S. customers who are still dealing with high unemployment and slow wage growth. The chains also are facing more competition from online retailers such as Amazon.com Inc. (AMZN), which offers free shipping and is adding distribution centers to speed up delivery time.

 

The second-largest U.S. discounter won this month by cutting into Wal-Mart’s lead in food prices. Bentonville, Arkansas-based Wal-Mart’s advantage in groceries fell to 1.35 percentage points from 4.5 percentage points in July. Target’s improvement in food may have come because of more promotions tied to back-to-school shopping, Bartashus said...

 

(click pic to continue reading)


Via Billy Corben
Jacob McManus's insight:

With contstant price battles between Wal-Mart and other multinational  companies, Taylorism is put into effect to create a more efficient workplace to keep prices low for customers, as well as trying to stay ahead in the competition.

 

What are the effects of Taylorism in multinational companies, like Wal-Mart, and what are the advantages and disadvantages for the consumers and the  producers?

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Seth Robinson's comment, October 8, 2013 2:44 PM
Beauty article
Bryce Wettstein's comment, October 10, 2013 1:00 PM
Thanks Jacob
Rescooped by Jacob McManus from Innovation & Change
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Factors that affect teamwork in the workplace - by Cody Hodge - Helium

If you have ever held a job, chances are that you are required at some point to have worked in a team.

Via Bill Palladino - MLUI
Jacob McManus's insight:

This article is relevant to this weeks topic by how certain factors can determine the efficiency of teamwork in the workplace. Some factors include  how well a team can work together, the qualities brought forth to each member of the group, the research and distribution of work to each member, and leadership within the group. 

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Rescooped by Jacob McManus from Management Decision Making in Business
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Forcing choice may hamper decision-making, study finds

Constraining choice isn't necessarily a good thing when it comes to managers' problem-solving, according to a new Canadian study.

Via Stoney Kudel
Jacob McManus's insight:

This article caught my eye on how psycological mechanisms can affect decision making for mangers. It shows on how if a manager is not to be forced on decision making, they would be more likely to see the potential ethical consequences of their actions and in turn make efficient, desirable decisions.

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Rescooped by Jacob McManus from Emotional Intelligence
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6 Ways To Raise Your Emotional Intelligence (EQ)

6 Ways To Raise Your Emotional Intelligence (EQ) | Jacob McManus' Management Center | Scoop.it
"We must accept finite disappointment, but we must never lose infinite hope." - Martin Luther King

Via Garth Sanginiti
Jacob McManus's insight:

This topic was relevant to my interests because we covered EQ but did not cover how to raise EQ. This topic covers six key factors to raise emotional intelligence, which are: 1.Self awareness 2. Empathy 3. Self regulation  4. Motivation 5. Social skills and 6. Happiness

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Garth Sanginiti's curator insight, October 15, 2013 1:37 PM

"Your emotional awareness and ability to handle feelings can determine your success and overall happiness in all aspects of your life. Raising your emotional intelligence has a direct and positive effect on your level of energy and consciousness."

Lauren Herrera's curator insight, November 5, 2013 12:15 PM

Quick and easy steps to changing your lifestyle and making you heighten your EQ

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Gates’s Future Fuels Speculation as Microsoft Seeks New Chief

Gates’s Future Fuels Speculation as Microsoft Seeks New Chief | Jacob McManus' Management Center | Scoop.it
As Microsoft prepares to name a new chief executive and plot a course out of its funk, the role of Bill Gates has been a source of wide fascination.
Jacob McManus's insight:

Microsoft has been looking for Bill Gate's replacement to take the company in the right direction. This article is relevant because all of the canidates for Bill Gate's replacement are male. This is because their dependency of great authority and success relates to hofstede's dimension of masculinity.

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Social Pressure Is a Better Motivator Than Money

Social Pressure Is a Better Motivator Than Money | Jacob McManus' Management Center | Scoop.it

Upton Sinclair once wrote, "It is difficult to get a man to understand something if his salary depends upon him not understanding it." If your business objectives aren't linked to employee compensation, it sends a strong message that they aren't a real priority, and motivation is adversely affected. The flip-side, however, isn't true. When business objectives are linked to compensation, motivation to drive for results is rarely meaningfully enhanced.


Via jean lievens
Jacob McManus's insight:

this article caught my eye on how turning market norms in the workplace into social contracts can increase, or sustain, motivation at work. If there is no compensation in the worker's salary to be innovative, bright, and be motivational, the worker will push these characteristics aside since they are not the biggest priority and in turn can damage ones. But other practices like ackowledging workers for their acheivements or giving awards to the people who bring something extra to the workplace can be a better motivator than money. 

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Functions Of Business Management | Business Management Asia

Functions Of Business Management | Business Management Asia | Jacob McManus' Management Center | Scoop.it
It has been said that leaders do the right thing and managers do things right. While this is a subtle distinction between leaders and managers, in business, it can be the determining factor between failure and success.
Jacob McManus's insight:

This article was relevant to my interests on the basic functions of proper managing and how its related to success in business. I agreed on the article on how organizational skills play a huge role into becoming a better/superior manager in the workplace.

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