Strategic Management Project Risk Management

Question: Analyse the strategic direction of the organisation.Evaluate the strategic skills required of the leader to achieve the strategic ambitions.Assess the relationship between existing, required and future skills to achieve the strategic ambitions.Discuss the opportunities to support leadership development.Construct a personal development plan to direct leadership development.Devise an implementation process for the development plan.Assess the achievement of outcomes of the plan against original objectives .Evaluate the impact of the achievement of objectives on strategic ambitions.Review the leadership development plan.Update the leadership development plan.Evaluate the impact of corporate commitment to staff welfare on organisational objectives.Discuss how a staff welfare environment can affect achievement of organisational objectives.Consider the influence of a corporate commitment to staff welfare on the development of organisational values. Answer: Introduction: In this assignment, the strategic skills that are required to achieve the ambitions of the organization Family Mosaic Business have been discussed. There is a clear identification of the requirement of organizational skills and development of leadership skills as a customer relationship manager for the company Family Mosaic Housing. Each unit in the organization is important for accomplishing the objective of the company. Employees play an important role in Family Mosaic Business. Employees or the staffs need a conducive environment for work. There are some situations highlighted in this assignment where the need for health and safety has been felt by the organization. Family Mosaic Housing is a company that provides housing in the United Kingdom. The company wants to achieve its ambition through strategic management by the leader of the organization. There is a need to assess all the perspectives before documenting on the strategic plan. Analyze the strategic direction of the organization: The application of proper strategy is very important for an organization to flourish. Strategy is a type of plan of action that is important for achieving definite goal. The direction and the strategic plan depend on the characteristics of strength, weakness, opportunities and threats[1]. The company Family Mosaic is based in the United Kingdom and is the largest providers of housing. There are ample of opportunities that are available to the customers. There is larger dominance of the ownership shared in this business. The local communities also collaborate with Family Mosaic to make the society better. The vision and the mission statement of the company are very important, as this will help in the identification of the processes of the organization. It is like a philosophy for employees who would follow and adhere to it. When there is incorporation of mission statement of Family Mosaic Housing in the strategic plan then this would help in reflecting a new direction for the company[2]. When there is a strategic development plan then The mission statement of Family Mosaic Housing is: The company Family Mosaic aims at promoting wealth, health and the well-being through the provision of housing facilities. Moreover, the mission of the company also ensures to meet the needs of the staff members so that they are happy and confident in delivering their objectives. Vision Statement: There are some core values considered by Family Mosaic Housing when it provides its brands. The value includes dedication towards customers as well as employees, courage for accurate representation and confidence in decision-making process[3]. The strategic model that includes strategic choices, strategic actions and strategic positions is given by the Exploring Strategy Model. The model can be depicted in the Figure 1 below. Figure 1 Exploring Strategy Model Source[4] The Strategic Position of the model highlights the environmental opportunities, threats and the cultural shape strategy that helps in determining the SWOT analysis of the firm with the objective to achieve employees satisfaction. On the other hand, Strategic Choices constitute portfolio, internal competition and innovating strategies that the company imply in achieving the vision and mission statement. Conversely, Strategy in Action highlights the strategy processes taken by the organization[5]. Evaluate the strategic skills required of the leader to achieve the strategic ambitions: In order to achieve, the strategic plan there is a need for a leader who would be able be efficient and capable enough. A leader can only understand the long-term plan of Family Mosaic Housing. The leader who would be leading the organization must understand the objectives and the missions of Family Mosaic Housing. The leadership skills must be able to motivate people[6]. There is a need for a clear vision; perseverance and communication by the leader for achieve the ambitions. A study by Ken Blanchard companies has shown that there are some critical skills that are required by the leader. The skills are mentioned are as follows: Listening or communicating is very important for the leader to resolve issues with the team. The ability to ask questions and generating a two-way communication will help in building trust. There would arise a healthy relationship in the working organization at all the levels Management skills: The leaders should be able to develop others through their leadership skills. This is a situational approach to leadership[7]. Empathy and Emotional Intelligence: The leader should be able to look into the concerns and the issues of the people other than his own. There is a need for the author to emphasize, build rapport, encourage and connect with the direct report[8]. The leader of the Family Housing association can follow the model of Kobe or Mumford and Honey. The learning cycle by Kobe helps in understanding the preferences of learning by an individual[9]. Learning cycle by Kobe based on experimental learning theory. There are four learning styles depicted by Kobe. The four stages are diverging, assimilating, converging and accommodation. Honey and Mumford framed a similar model. In this model, the learning style highlights activist, reflector, theorist and pragmatist as the learning styles. The similarities in the leaning style of the two models are: Accommodating = Activist Reflector= Diverging Theorist = Assimilating Pragmatist = Converging The following diagram shows the Kobe and Mumford and Honey Learning styles: Figure 2: Kolbs Learning Style Source[10] The following are the skills that the leader should possess to meet the strategic aims of the organization. Skills Needed Functions Systematic manner of structuring The aims of the leader must be clear and work should be done timely Client Account Planning The leader should conduct meetings periodically to strategies[11]. Thinking strategically When the leader thinks out of the box then the Family Housing Association will be able to earn higher profit. Leader will help in creating a tough competition for the rival companies of Family Mosaic. Increasing organization profit The leader will encourage the management of Family Mosaic to take into consideration more investment on research[12]. Assess the relationship between existing, required and future skills to achieve the strategic ambitions It is important to understand the relationship of skills and competencies possessed by various individuals for setting ambitious goals. It helps in developing as well as adapting current climate variations in order to achieve strategic determinations for Family Mosaic Housing Association. Gap analysis is one of the effective tools that propose proper alignment of organizational strategic decisions in the most appropriate way[13]. Family Mosaic compares its actual performance for determining certain expectations and utilization of resources in an effective way by this process. In order to understand the concept of gap analysis, it is essential for breaking down components into skills and knowledge. This will help in ascertaining ways for developing future strategic aims as well as objectives for Family Mosaic Housing Association. Required Skills Existing Skills Future Skills Excellent communication with employees and customers Lack essential communication skills Appointing experienced human resource manager Effective Decision-making process Lacks strategic decision by top-level managers Appointing excellent CEO and CFO for Company Leadership Development Marginal leadership qualities Excelling in leadership approach Prioritizing Task efficiently Good at dedicating task Planning and coordinating within employees Valuing and supporting team Needs improvement Appointing active leaders Motivating Needs improvement Appointing experienced human resource manager Analyzing Marginal Analyzing qualities Planning and coordinating within employees Reporting and Delegating Responsibilities Needs improvement Appointing active leaders The SWOT analysis will help in understanding the decision making process of the Family Mosaic Housing under Exploring Strategy Model includes: Strengths Weaknesses The company Family Mosaic enjoys exclusive copyrights and patents. The company Family Mosaic Housing has a strong brand name There is a good reputation of the company in the market Diversified array and employees can operate in different areas Distribution of access networks Enhanced technological skills used in the cement industry Strong Project Management Skills Efficiency and staying is prized by remuneration to the employees Vulnerable to slow down due to geographical area Challenges faced in the cooler markets and the tumbling prices Overload of information Disconnect between Mosaics stock and operational performance in 2015 Opportunities Threats New division and existing operations Increasing the sales base Emphasized mixed used neighborhoods and public transportation by developing expertise in bilding Changing market preferences can pose a threat for employees Managers on-the-job expertise will leave the company in an inferior position to the rivals and professional management team The back office system is poorly integrated. Michael Boyatziz develops model that mainly combines ideas in three vital aspects like overlapping effective ways for positive outcomes. Individual Competencies Job Demand Organizational Environment Figure 3: Contingency Theory Source[14] Family Mosaic Housing Association believes in planning for long-term strategic plan for expanding the housing business. It will help in keeping high quality offers and services in the next 5 years. Skills Focus on Decision-making skills Collection of reliable information by conducting market research Tactical decisions by middle-level managers Strategic decisions by Top-level managers Selection high values and prioritizing Main focus on customers and shared ownership attributes Decisions focus mainly on partnership with local communities for making neighborhood better place for living in Supply chain skills Family Mosaic mainly focus on efficient supply chain management Health Wealth Wellbeing Good quality of affordable homes for needy individuals Risk Assessment Frequent changing legislation Updated information Discuss the opportunities to support leadership development Johari Window model: There is a need to assess the self-awareness as a customer relationship manager of Family Mosaic Housing. When feedbacks are received about one self then it will help in the development of oneself. The Johari Model will help in assessing self-awareness. There are four windows in the model with two axes. When as a customer relationship manager of Family Mosaic Housing Association the personal leadership skills would enhanced by maximizing the open area window and minimizing the others. The following diagram shows the Johari Window Model: Figure 4: The Johari Window Model Source[15] Implementation of the Johari Model in the Family Mosaic Housing Association: Window Development Feedback Open Area Implementation of strategic decisions There is a need for meeting with the top management so that skills can be enhanced Blind Spot This window can be developed when there is communication within the team There should be work flexibility so that free communication can be done at all levels Hidden Area Managing pressure during work The things that are creating pressure must be noted and must be decided on how to resolve. Unknown Evaluating There is a need for a discussion with the management and other departments Blanchard has characterized four prominent leadership styles and theses are as follows Directing Delegating Coaching and Supporting The style of leadership that a customer relationship manager would take depends on the different types of considerations like finances, time, communication and the task. When operating as a customer relationship manager for Family Mosaic Housing it was important for me to establish some skills. Personal leadership is the base to all types of skills. The basic skills that I acquired during the time of my work with the company Family Mosaic were relationship management, relationship building skills, leadership thoughts, team leadership and personal network development. This was only possible with the guidance by my supervisor. Situational Leadership: There are four leadership stages explained by Hersey and Blanchard on Situational Leadership. The following are is the diagrammatic representation: Figure 5: Situational Leadership Model of Hersey and Blanchard Source[16] As a customer relationship manager, I ensured that I followed all the stages. Before getting the position of the customer relationship manager, I used to work as customer service executive. I wanted to add growth to my career and my department manager assisted me. I managed customer information on the databases and carried out related projects so that I could progress in the stages of leadership. There are four learning stages explained by Kolb namely reflect, analyze, plan and experience. The thing that I needed to develop was the way of planning. Construct a personal development plan to direct leadership development In order to construct personal development plan, it is necessary for conducting essential SMART objectives for Family Mosaic Housing Association Health Family Mosaic Housing Association believes in keeping their customers happy and wealthy by providing excellent tenancy for the purpose of sustenance[17]. It will ensure high demand from the targeted customers for the same. It will ensures high providing high housing facilities for striving best and improving the family lives of large customers in an overall manner. It includes: Family Greening Communities Health Intervention Programme Youth Academy Sport Programme Wealth Family Mosaic Housing Association believes in providing excellent economic environment for operational activities for saving lives of individuals. It gets essential support in cash from government and services in an overall manner. It should identify following key objectives: It believes in providing apprenticeship programs and allowing customers for global recognition. It helps in developing skills for real working environment for future analysis purpose. It involves employing best team development from the liaison officers. It requires essential support services especially for residents and customers in case of career progression. Wellbeing This particular housing association believes in providing excellent homes for customers. It concentrates on the needs as well as expectations of the customers[18]. It renders discounts and best services products in the final production of goods and services. Development Objectives Actions Target Date Report Writing High level report writing Presentation Regular strategic meetings Funding by recognized organization June 2016 Wellbeing High discounts Production of goods and services August 2016 Wealth Family Mosaic mainly targets more than 1000 people for jobs in the next five years This particular housing association involves in continuous improvement for maximum services as well as improving health services as well as wealth for the same. September 2016 Technical Knowledge Understanding housing association Conduction of regular strategic meetings Overview of company policies, rules and regulations October 2016 Strategic Management Skills Efficient marketing managers Regular strategic meetings Funding by recognized organization September 2016 Devise an implementation process for the development plan to support achievement of strategic objectives In order to conduct personal development plan, it is essential for making goal-planning worksheet. It will clearly bring out the strategies and obstacles in the final course of actions. It is beneficial for recording purpose as well as reviewing future developmental activities in an effective way. Goal planning worksheet Developing goal and positive outcomes What might get in the way Things needs sacrifice or acceptance Resources available Completion Dates Progress Measures Strategic Management Skills Hectic work pressure and work commitments No feedback from concerned marketing managers Quality time with family and friends Excessive Travel Health Issues Marketing managers guidance and experience Knowledge Online research Monthly and weekly assignments and setting guidelines Continuous feedback from the top-level managers Report Writing Other areas availability for organization with family and friends High level management books Academic journal articles Ongoing project Continuous feedback from the top-level managers From the above table, it is evident in understanding the fact that goal requires essential aims, vision and objectives of Family Mosaic Housing association. It helps in developing the future personal development plan and attainment of future objectives in the most appropriate form. Assess the achievement of outcomes of the plan against original objectives It is noticed in various situations that improvement arises from effective personal development plan. It involves: Effective corporate environment that mainly focus on production of best organizational performance for attainment of future goals and objectives Self-awareness improvement by Family Mosaic Housing association Maintaining healthy relationship with customers as well as employees Maintaining high level of transparency so that employees feels free to communicate with immediate superiors without any kind of hesitance[19] Making ways for reducing conflicts as well as stress for the same[20]. Development Objectives Outcomes Feedback Strategic Management Skills High level career Scope for future employment Regular discussion with marketing managers Meetings and feedback sessions Discussion on development plan and vision statement of Family Mosaic Housing Association Report Writing High level report writing Importance of effective writing High level of work related commitments Discussion with marketing manager From the above table, it is evident that strategic management skills help in gaining ongoing business activities in the most appropriate way. It is important to understand the fact that organization depends entirely on efficient team developmental measures for future analysis purpose. It should assign delegated roles and responsibilities for effective management in an overall manner. It should set team objectives and deadlines so that organization renders best services at affordable prices. Figure 6: Leadership Development Model Source[21] Review the leadership development plan Development Objectives Actions Target Date Development action and requirements Strategic Management Skills Efficient marketing manager Future scope in employment Strategic meetings Funding by recognized organization May 2016 Positive feedback from customers Employment of experienced strategic managers for final decision-making process Report Writing Importance of effective report writing Coaching marketing manager Reporting recognized organization December 2016 Essential documentation Changed legislation Update the leadership development plan Development Objectives Actions Target Date Presentation Skills Presentation in confident manner by marketing manager Large team and personality development management 5 weeks ongoing process Assertive attitude Utmost caring and responsible managers High level of responsibility Training session Meeting the Key Performance Indicators 4 weeks ongoing process Evaluate the impact of the achievement of objectives on strategic ambitions: Development Objectives Relevant Strategic Ambition Impact (Yes/No) Skills related to strategic management Enhancing the skills of management so that the future employment is secured The customer relationship management should have more strategic thinkers. Yes The operational plans were concentrated strategically Drafting a report Writing accurate and standard reports Confident in writing the reports and take assistance from the higher levels No There was no assistance provided to write quality reports Health and Safety There is a need for test on health and safety. There is also need of sufficient knowledge in this regard. There is a need for H and S everywhere. There should be assessment of risks Yes Test has been done Sharing knowledge about the content of the course Flexible in almost all the industries Irrespective of the position, it is important to understand the OHS in the area of work place. As a customer relationship manager, when handling the electronic devices must known how to assess risks. All the departments are eligible in carrying out the qualification test. This has helped the managers to develop in their respective areas. Evaluate the impact of corporate commitment to staff welfare on organisational objectives It is very important for any type of organization to look into the well-being of the staff. This is the basic requirement for Family Mosaic Business as well. The company Family Mosaic should be considered about the Engineers who are developing houses and the customer relationship manager who are handling the clients of the company. Engineers they are working all day and needs to adhere to the policies of the company. The bookings of the houses must be done in the CRM devices[22]. There are policies of Family Mosaic Housing that helps safeguarding the staffs. The company should be able to adhere to high standards so that it can get best engineers to build houses and best customer responses. The following are the values that are followed by Family Mosaic Housing: Encouraging the workers Building confidence Sustainability Working in coordination with communities to protect environment The company promotes equality all the services A positive response to the Equality Act[23] Health and Safety Customer Care Quality Development and Training Cost benefits analysis is key step that the organization Family Mosaic business to consider when thinking on initiatives for staff development[24]. The Family Mosaic Business to enhance the welfare of the staffs must provide bonus to the staffs only when they qualify[25]. The company Family Mosaic to consider the on the welfare must give flexible hours of working, facility for work from home , child care rebate and many more. Adequate training to the staffs will help the company to organize its operations and this will helps the staffs to earn awards for their productive work[26]. Rewards must be provided but there is a need for continuous monitoring of the staffs Discuss how a staff welfare environment can affect achievement of organisational objectives. When there is an employee working in the organization, it is the duty of the organization to see that they are able to get the necessary welfare facilities When there is no adequate leaves in the organization then employees can fall sick[27]. Similarly, Family Mosaic also needs to consider these perspectives. It is the duty of Family Mosaic to see that the workplace is safe. Some changes were made in the engineering department, as the space was quite clumsy for work. The space was increased by incorporating more tables and workstations. Consider the influence of a corporate commitment to staff welfare on the development of organisational values The company Family Business Mosaic Housing needs to cater to the needs of the employees and the staffs. These are some of the commitments followed by the company: Customers are given value and respect when they visit The company adopts the sustainable strategy for building houses that are environmentally sustainable Building more energy efficient homes for the customers Use of renewable energy resources for building houses Provide safe working environment for the workers Takes customer feedbacks and act upon it These strategies or commitments by Family Mosaic Housing Company should be followed so that the trust among the staffs and the customers can be established. If separate commitment charter is followed for both then implication gets more effective[28]. Tannenbaum and Scmidt have highlighted a very interesting leadership theory. It shows the space that the manager provides the staff members and the space that is used by the manager. When there is rise in the freedom of the staffs the authority of the manager decreases and this is a positive sign[29]. The following diagram shows the leadership model of Tannenbaum and Scmidt: Figure 7: Leadership model of Tannenbaum and Scmidt Source[30] Risk assessment by the company Family Mosaic needs to be done. There are risks in all the possible areas and it needs to be evaluated by the manager. These are steps for risk assessment: Identification of the hazards[31] Detecting the ones who are likely to be harmed Evaluation of the risk and deciding on precaution Findings need to be recorded and then implemented. Reviewing risk assessment[32] Failing to adhere to risk assessment would lead to serious consequences for the workers in Family Mosaic Housing association[33]. Conclusion: Thus, the skills of leadership by the managers and the process of learning need to be present within the Company Family Business Mosaic. As a Customer relationship manager of the company Family Business Mosaic there is a need to understand the strategic skills that will help the organization to fulfil its objectives. There is a need for a well-coordinated team of employees so that they can work towards the objective of the organization. Development of leadership should be related to theories, as this would lead to personality development of the leader as well as the goals of the organization would be achieved. 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