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CIMA - FLP > Mgt - Performance And Project Management > Flashcards

Mgt - Performance And Project Management Flashcards

1
Q

3C Model for Leaders

A

Competence: needs some level of competence, but this is baseline.

Character: earning and growing trust.

Commitment: demonstrate behaviours for the team to succeed.

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2
Q

3 Essential tools for leadership:

A
  • Adapt leadership style
  • EQ
  • Power bases
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3
Q

Ashridge Management College leadership model:

A
  • Tell: managers tells staff what to do.
  • Sell: Sell a new idea to staff.
  • Asks: Asking for staff’s view.
  • Joins: staff is involved in the decision making process.
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4
Q

What is contingency theory of leadership?

A

There is no one best way to run an organisation. Rather, decision-making is dependent upon the context, including both internal and external factors.

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5
Q

4 kinds of leadership behaviours:

A
  • Directive: set goals, assign tasks, provide adequate training.
  • Supportive: support employees and show concern.
  • Participative: give employees an opportunity to participate in decisions.
  • Achievement-oriented: establish challenging goals, encourage employees to perform.
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6
Q

5 Functions of management by Koontz and O’Donnel

A
  1. Planning: THINKING of what needs to be done to meet predetermined goals
  2. Organising: SOURCE all RESOURCES are available and they effectively work together
  3. Staffing: HIRING the right people with the right skill set
  4. Directing: Provide LEADERSHIP, motivating, supervising and communicating with staff
  5. Controlling: MONITORING if predetermined goals are met AND TAKE CORRECTIVE AFTION.
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7
Q

5 common types of power:

A
  1. Legitimate: because of your role. Position power.
  2. Reward: because of incentives that a manager can offer to staff.
  3. Coercive: threat of consequences.
  4. Expert: when you demonstrate knowledge that others don’t have.
  5. Referent: charisma, interpersonal relationships
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8
Q

Accountability, authority and responsibility:

A

Are all interconnected

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9
Q

Empowerment =

A

Giving employees more autonomy and responsibility for recognising and solving their own work problems.

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10
Q

Diagnosing change:

A
  1. Is it incremental?
  2. Or is it disruptive?
  3. What is the organisational cycle?
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11
Q

Organisational cycle:

A
  1. Launch
  2. Scale
  3. Turn-around
  4. Driver
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12
Q

Common change phases:

A
  1. Rally - the team and share the reason why change is needed.
    - Top 3 reasons
    - stories, not stats
  2. Drive - people need to understand the why to feel the drive to be onboard
    - ideal, good, bad
    - who are the key stakeholders
  3. Sustain the change
    - channels, how to send info out (face-to-face preferred to see body language)
    - messages - 1 sentence
    - frequency
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13
Q

Recommendations to be an effective leader

A
  • Share your vision
  • Be real and authentic
  • Be transparent and open
  • Involve your team in change management
  • Develop your staff
  • Value each team member
  • Use sources of power wisely
  • Use your emotional intelligence
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14
Q

How to use your time efficiently as a leader:

A
  • Multi-tasking is a lie
  • Shallow work v Deep work
  • Ask yourself the question every week: What justifies you being on the payroll?
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15
Q

Tools to manage time better:

A
  1. Have Big Rocks
    2 Master Task List
  2. Calendar
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16
Q

Meetings to lead people:

A
  • Daily huddle (5mins) to share quickly if anyone needs help. (Or every other day
  • Weekly 1:1 and ops updates (take 30 mins)
  • Quarterly KPI reviews (a couple of hours)
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17
Q

How to create time?

A
  • take time for deep work.
  • work out your 4 top priorities and spend 40% of your time on it.
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18
Q

Calendar priorities:

A

Strategic:
1. What the customer needs
2. Priorities

Tactical:
- list what you spend time on.
- then list next to that your priorities
- then draw lines between the lists. You want to work towards the lines being horizontal

Energy levels: decide whether this is in the evening or morning

Map out an ideal week. (AM, midday, PM)

Block out a time slot for long term planning every week. (At a high energy moment).

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19
Q

Masterclass tips for managing your calendar:

A
  • 100% linked priorities
  • Avoid overscheduling
  • use 90 minute blocks
  • after a day of travel. Plan a day on your own afterwards to catch up and process the outcomes of your trip.
20
Q

You are the CEO of your life:

A
  • Lessons learned from experience (LLFX)
  • D.A.T.A. (Dreams, Aspirations, Temperament, your Assets)
    You want to be a purple squirrel: high value, highly unique
  • ROI
21
Q

How do you achieve success:

A
  • not every day is going to be successful. 3 good days a week is a good week.
  • be committed to your role and the company, but be prepared to move on when the organisation does no longer help you achieve where you want to be.
22
Q

Reasons to stay or leave an organisation:

A

If you’re happy with 3 out of 4, that’s a good sign:
1. Pay: Are you happy with what you get paid for the role that you carry out
2. Location: are you happy with where you work
3. Passion: do you care about what you do?
4. Friction: do you enjoy where you are? Or is there a lot of friction?

23
Q

ROI = return on integrity

A

T = TS + (HICE)
Trust = Technical Skills +(honestyintegritycharacterempathy)

24
Q

3 Questions for Strategic Talent Management:

A
  1. What is todays strategy and what is tomorrow’s strategy:
    - where do you focus your efforts
    - how do we get there? What is our roadmap?
    - Where are we going to make the biggest impact?
    - what capabilities and systems do we need to achieve this?
    - when are we focussing on what?
  2. What are the capabilities that you need?
  3. What are the key roles that need to be filled?
25
Q

Tools to retain top talent:

A
  1. Career maps
  2. Experience profile
  3. Individual development plan
26
Q

Career map:

A

What are their Technical Skills?
- degree
- professional qualifications
- work cross enterprise
- consistent top performance and multiple cross enterprise projects

What are their Professional Skills?
- learning how the organisation works
- team follower, lateral leadership
- formal team lead
- multiple formal or informal team lead

27
Q

Experience profile:

A
  1. C-suite experience:
  2. Org lifecycle: experience in start-up, turnaround, scale, sustain
  3. Management
  4. Cross enterprise
  5. Geography: HQ, field office, domestic, international
28
Q

Individual development plan:

A
  1. List their competencies: then mark it red, yellow or green where they have experience and what they need to work on
29
Q

Master class tips: retaining staff

A
  1. Frequent 1:1 conversations
  2. Know who the flight risks are?
  3. Know some details about your team, in order to understand how they are, where they stand, what they’re thinking.
30
Q

Diagnosing Organisation culture:

A

Imagine an ice berg:
Above the water line:
- Shared
- Pervasive
- Enduring
- Hardwired

Below the water line:
- what are our values
- what are our believes

31
Q

organisational culture diamon:

A

Independence

Flexibility Stability

           Interdependent
32
Q

How to amplify organisational culture:

A
  • What are the critical behaviours required?
  • who are the heroes and heroines, that you want to point at as an example?
  • what are the critical qualities?
33
Q

3 levels of culture by Edgar Schein: from conscious to less conscious

A
  1. Artefacts (surface level: logos, dress code, furniture)
  2. Espoused values ( standards and values: how do people communicate, rules, codes of conduct)
  3. Basic assumptions (subconscious level: for example long held standards on staff welfare)
34
Q

Factors that influence organisational culture:

A
  1. Age and history
  2. Size
  3. Leadership style
  4. Technology
  5. Ownership
  6. The market
  7. Location
35
Q

Organisational culture according to Charles Handy:

A
  1. Power
  2. Role
  3. Task
  4. Person
36
Q

Power culture is:

A

Usually 1 or a few leaders, few rules, decisions are made quickly by the central person. Often seen in new or small businesses.

37
Q

Role culture =

A

Often seen in large governmental organisations. Power is derived from the position of your job. Slow decision making and slow culture change if needed. Lots of rules and regulations.

38
Q

Task culture:

A

Seen is R&D organisations, IT and companies where rapid change is needed. Quick decision making. Employees often love their work. Often work on a team and project basis.

39
Q

Person culture:

A

Not one leader, but a group of partners. Often solicitors, accountants etc.

40
Q

Geert Hofstede: 6-D model of national culture:

A
  1. Power distance
  2. Individualism v collectivism
  3. Uncertainty avoidance
  4. Masculinity v feminity
  5. Long-term orientation v short-term orientation
  6. Indulgence
41
Q

How to motivate and retain staff

A
  • Differentiation:
    Intrinsic v extrinsic (=more money)
    Intrinsic = allow people to be in the areas they are good at. Giving them to the tools and training to do a good job. Help them and make them feel that their impact is valuable.
  • Goal setting: regularly assess, specific goals, goals have to be stretch goals, targeted and transparent goals.
  • Practical application :
    1. What’s their impact on the organisation?
    2.
    3.
    4.
    5.
42
Q

How to set goals for staff:

A

3 to 5 goals per annum:
Result or outcome driven
- individual goals have to be aligned with the organisation’s goals
- talk about them and how it’s going
- then show what your plans are, what keeps you busy. What are the organisation goals.
They will feel part of team knowing what the goals are.
- growing your team you’ve got to spend time with them.

43
Q

Key questions to ask HR regarding appraisals:

A
  • To what extend is this goal aligned to the organisation’s goals.
  • be clear if you focus on Team goals or on individual goals.
  • does the organisation reward performance as a Bell Curve. (High and low performers and average in the middle)
    Or a high bar and if you meet that bar you are rewarded for that.
44
Q

Principal to keep in mind in appraisals:

A
  1. It’s a review
  2. Here are your annual goals and monitor quarterly. Ask the employee how they see these goals.
  3. Critical Incident Model: can be positive, average or negative. And make sure it’s mentioned in every quarterly review.
  4. Always stay in alignment with your organisation’s policies and procedures
45
Q

Tools to do appraisals:

A

1:1
1. Listen to them
2. Then you speak and tell them what you see.
3. Then look at what’s the plan for the next period
Always keep listening.
Use: Next time focus on this or that…

46
Q

Types of goals:

A
  • SMART
  • FAST (frequent, ambitious, specific and transparent)
  • use a 1-page plan with goals
  • only set 5 goals maximum
47
Q

Envelope supervision:

A
  • Focus on what needs to be done and by when.
  • Ensure they have the skills and tools to make it happen
  • Then leave them to it to get on with the task/goal

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