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Commerce 3s03 – Midterm 1 notes Chapter 1 – Manager Strengths & Weaknesses 10 Manager Strengths 1. Self-confidence Assurance in one’s own ideas, judgments, and capabilities; knowing and trusting yourself. Inspires respect and is able to meet challenges. Lack of self confidence usually leads to micromanaging. Self-confident managers are better at working in a team. 2. Emotion Control Being able to keep one’s emotions in check so that they don’t interfere with relationships and goal attainment. Ability to think more clearly and be more effective under pressure. Managers with low emotional control are likely to not take criticism well. Self-restraint is the ability to think before you act, resist emotional urge. 3. Focus The ability to keep your attention centered on a topic, situation, or task, screening out distractions and completing the job. Able to ignore distractions. People with low focus tend to look for distractions. 4. Objectivity View ideas and thoughts without bias, ignore personal preferences when making decisions. Ability to step back and view something from a bird’s eye view. Objectivity also works on oneself, seeing how their own performance is doing without having personal bias. 5. Relationship Building Understanding that you can’t do everything yourself and that managing means that you’re delegating tasks for other people to do. Create an environment where you’re liked as a manager and work will be more effective. Listen. 6. Initiative Initiative means having a strong capacity to begin an activity without procrastinating. Revealed in the ability to reach out and include people, confront people and take on personal responsibility. 7. Goal-Directed Mindset The ability to look forward and define a goal or vision and formulate plans and action steps to accomplish said goal. Task-focused. 8. Ability to Organize The capacity to arrange people, resources, and activities into a system. Can identify the activities and arrange the resources to achieve a goal. Efficient and disciplined. Reorganize if necessary. 9. Time Management Almost always on time for appointments, meetings, or events; dependably meet deadlines. Good at estimating how long it will take to complete something. Prioritize tasks appropriately. 10. Agility Quickly adapt to changing conditions. Ability to revisit and adjust plans and change course when new information becomes available. Able to cope with uncertainty without becoming stressed out.

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6 Killer Constraints 1. Never Feeling Good Enough Not having enough self-confidence. An underlying fear or insecurity where they sabotage their own careers. Likely to second guess himself and be afraid to take initiative. A manager who doesn’t take needed action for fear of failure will not lead a team to excellent performance. Negative self-judgments will limit potential performance. 2. Being a Marshmallow Being TOO nice. A person’s nurturing and care-giving goes far beyond what is good for them or those around them. Over-nurturing people can sometimes hurt those they’re trying to help. 3. Running a Roughshod Over Others Opposite of being a marshmallow, some people are too dominant. Bulldozers alienate everyone, destroy relationships, lose employees, get fired and create ill will wherever they go. Hard for them to relize they need to change. 4. Playing Mr. Spock Unable to feel emotions or understand them in others; emotionally tone-deaf. Highly relational and look at problems as objective issues to be solved, devoid of a complex human component. Highly critical, demanding and harsh. Rarely show affection, give compliments or offer to help others. 5. Demonstrating Low Self-Control Easily distracted and lack self-discipline. Can’t stay focused on a long-term goal. They get bored easily and crave the variety and excitement of the next thing. 6. Being Overly Critical This person points out what is not working rather than focusing on what is working. Overly critical managers are easily annoyed and pick out shortcomings with every person, plan, report, and hiring decision.

Four Dimensions of Emotional Intelligence:

Self-Awareness:    

Aware of own feelings Knows own strengths/weaknesses Believes in self Welcomes criticism/advice

Self-Management:    

Positive outlook Adaptability Initiate goals Keeps commitments

Social Awareness 

Understands informal structure

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  

Shows empathy Helping orientation Social pattern recognition

Relationship Management    

Air conflicts Gives feedback/develops others Catalyzes changes Persuasiveness

Positive Psychology: 

Focus on the strengths of employees rather than their weaknesses. Maximize your strengths. Strengths are important because you can refocus your life around them rather than devoting your energy to judging, regretting, and trying to fix your weaknesses.

Theory of Constraints: 

Says that every system or process has one or few weaknesses that prevent it from achieving maximum performance. Three groups of constraints: o Minor constraints: don’t affect management ability o Outsourceable Major Constraints: constraints that managers can hire someone else to do for them. o Major constraints: Prevent manager from performing as needed. (Dishonesty, low selfcontrol)

Talent, Knowledge, Skill: 

Everyone has natural talents, and you can turn them into strengths by supporting and reinforcing them with learned knowledge and skill.

Causes of Manager Failure 1. Ineffective communication 2. Poor work relationships/interpersonal skills 3. Person-job mismatch 4. Failing to clarify direction 5. Failing to adapt and break old habits quickly. Other Chapter Information: Managers can develop emotional intelligence to overcome or avoid the six killer constraints. Four components of emotional intelligence are self-awareness, selfmanagement, social awareness, and relationship management. Emotional intelligence can be learned, and your success as a manager will 

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depend as much or more on your emotional competence as on your technical abilities.

Chapter 2 – Learning About Yourself Means of expanding self-awareness: Soliciting Feedback: Seeking feedback to enhance self-awareness can improve performance and job satisfaction for both managers and employees. We all have illusions about ourselves, so we need help from others to accurately assess who we are. When we shut down feedback, we eliminate learning and personal development. Self-Diagnosis: Uses self-inquiry and reflection to gain insights into yourself from self-assessment results, such as your scores on assessment instruments in this text. Reflecting on your thoughts and feelings about people, experiences, and events can bring new perspectives a fresh understanding. Self-Disclosure: By revealing details about ourselves to others, we learn about who we are. Self-disclosure means sharing your fears, thoughts, emotions, and concepts of yourself with others. Selfdisclosure is crucial to enhancing self-awareness because other people mirror back their reaction tow hat we do and say so we can see ourselves through their yes. Johari Window: The Johari window is a tool managers can use to move towards greater transparency and alignment with others. The four quadrants of the Johari Window each represent a selfawareness “window”. 1. The “Open” Quadrant represents information that is known to the individual and is also known to others. The open quadrant is where good communicate and cooperation happen… the goal of the Johari window is to increase this quadrant over any others. 2. The “Blind” Quadrant includes things that are known about an individual by others but are unknown to the individual himself. By receiving empathetic feedback from others, the blind area is reduced as she becomes more self-aware. 3. The “Hidden” Quadrant represents things that an individual knows about himself or herself but keeps hidden from others. Information that affects one’s work, performance, or relationships needs to be moved out of the hidden area and into the open. 4. The “Unknown” Quadrant represents things that are unknown both to the individual and to others in the group. Could include undetected abilities or talents, values and attitudes. Through a process of self-discovery, people can shrink the unknown quadrant by seeking feedback from others and by disclosing more about themselves.

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The Big Five Model of Personality The Big Five personality dimensions describe an individual’s extraversion, agreeableness, conscientiousness, emotional stability, and openness to experience 1. Extraversion Refers to the degree to which a person is outgoing, sociable, assertive, and comfortable meeting and talking to new people. Someone low on extraversion might come across as withdrawn and quiet. This dimension also has the characteristic of dominance, a person with a high degree of dominance likes to be in control and have influence over others. These people are often quite self-confident, seek out positions of authority, and are competitive and assertive. 2. Agreeableness Refers to the degree to which a person is able to get along with others by being goodnatured, likable, cooperative, forgiving, understanding, and trusting. People with a high degree of agreeableness seem warm and approachable. They typically make friends easily and often have a large number of friends. Someone low on agreeableness may seem insensitive and distant. 3. Conscientiousness Refers to the degree to which a person is careful, organized, self-disciplined, responsible, dependable, persistent, and achievement oriented. A conscientious person focuses on a few goals and pursues them purposefully and meticulously. Someone low on conscientiousness is disorganized and unreliable. 4. Emotional Stability Refers to the degree to which a person is calm, enthusiastic, positive, and self-confident rather than moody, fearful, negative, or insecure. People with a high level of emotional stability handle stress well, can take criticism without being offended or getting emotional, and generally don’t take mistakes or failures personally. Someone low in emotional stability tend to be sensitive to criticism and have lower self-confidence. 5. Openness to experience Refers to the degree to which a person has a broad range of interests and is curious, imaginative, and willing to consider new ideas. People low in this dimension tend to have narrower interests and stick to the tried and true way of doing things. Jungian Personality Types Psychologist Carl Jung looked at mental preferences as opposed to deeply rooted personality traits to determine patterns in evaluating information and interacting with the world. He designed the Myers-Briggs Type Indicator assessment. The MBTI provides a way of measuring differences among individuals in their psychological preferences for how they interact with others and perceive the world. The MBTI uses four different pairs of attributes to classify people into personality types. 1. Introversion versus extraversion This dimension focuses on where people gain interpersonal strength and mental energy.

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Introverts gain energy from being away from people to focus on thoughts whilst extraverts gain energy being around and interacting with people. 2. Sensing versus intuition This dimension identifies how a person absorbs information. Those with a sensing preference (S) gather and absorb information through the five senses (details/facts), whereas intuitive people rely on less direct perceptions (patterns, relationships). 3. Thinking vs. Feeling This dimension relates to how a person makes decisions, especially whether emotions play a role. Feeling types tend to rely more on their values and sense of what is right and wrong. Thinking types tend to rely more on logic as they try to be rational, objective, and impersonal in decision making. 4. Judging vs. Perceiving The judging versus perceiving dimensions concerns an individual’s attitudes towards ambiguity and how quickly a person makes a decision. People with a judging preference like certainty and closure; they like focusing on goals and deadlines and tend to make decisions quickly based on available data to meet deadlines. Perceiving people enjoy ambiguity and multitasking, will likely miss deadlines and may change their minds several times before making a final decision. Each group (I/E, S/N, T/F, J/P) mix into 4 letter codes combining 16 unique types of people and the characteristics that accompany a mixture of a certain mixture of the 4 mentalities. Herrmann’s Whole Brain Model The Whole Brain Model considers not only a person’s preference for right-brained versus left-brained thinking, but also for conceptual versus experiential thinking. 1. Quadrant A is associated with logical thinking, analysis of facts, and processing numbers. A person with a quadrant-A dominance is rational and realistic, thinking critically, and likes to deal with numbers. 2. Quadrant B deals with planning, organizing facts and activities, and careful detailed review. Well organized, reliable and neat, like getting things done on time. 3. Quadrant C is associated with interpersonal relationships and affects intuitive and emotional thoughts processes. C-quadrant individuals are sensitive to others and enjoy interacting with and teaching others. They are typically emotional and expressive, outgoing, and supportive of others. 4. Quadrant D is associated with conceptualizing, synthesizing, and integrating facts and patterns, with seeing the big picture rather than the details. A person with a quadrant-D preference is visionary and imaginative, likes to speculate, break the rules, take risks, and may be impetuous. Instrumental and End Values:

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End Values sometimes called terminal values, are beliefs about the kind of goals and outcomes that are worth pursuing. Some people value security, a comfortable life, and good health while others may place greater value on social recognition, pleasure, and an exciting life. Instrumental Values are beliefs about the types of behavior that are appropriate for reaching end goals. Instrumental values include such things as being helpful to others, being honest, or exhibiting courage. As people get older their end values and instrumental values change depending on what their ambitions are in life.

Values-Based Management: Understanding your values is a critical aspect of self-awareness, as well as an essential tool for leading others. Values play a crucial role in how we behave, the decisions we make, and how we perceive the world. As a manager, you will need to understand why one choice seems better than another. Value-based Management Means management that provides a shared foundation of ethical values and beliefs that guide individual behavior and organizational actions. These core values help people at all level knows what actions to take in various situations. Managers find a balance between self-oriented values and community-oriented values to effectively lead organizations that contribute to society. There are four fundamental values for ethical organizations:    

Honesty: The organization’s leaders are open and truthful with employees, customers, shareholders, and the public. Accountability: People accept responsibility for their actions. Managers in ethical organizations place a high value on trust. Trust: They give people clear goals, provide support, and trust them to carry out tasks appropriately. Caring means putting the interests of others ahead of one’s own. People want others to succeed, and they want to take actions that benefit others both inside and outside the organization. Stage 1: You don’t have any competence with the skill, and you aren’t even aware that you lack competence. Stage 2: You become conscious of what’s required to do well but are still personally incompetent. Stage 3: Now that you are aware of what needs to be done, you start to practice the management skill. You receive positive feedback from your skill are aware of how well you’re doing.

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Stage 4: In this last step, the skill becomes an integral part of who you are. It occurs naturally and without conscious thought or effort. It is extremely rare for someone undertaking in stage for to have not of went through the other 3 previous stages to start.

Chapter 3 – Managing Yourself to Get Things Done Higher Order Thinking Why Can’t We Follow Our Good Intentions How can you take more control to change or manage when needed? Engage your new brain to manage your old brain (automatic, non-conscious thinking). Self-awareness and selfdiscipline a manager needs to establish goals. Psychology suggests that the vast majority of our thoughts, perceptions, desires, emotions, and judgments are a result of unconscious and automatic processes, aka, our old brain. The other part of the brain, the new brain, represents our intentional, rational, and thoughtful mind. This is the area in which we make a conscious choice of how to behave rather than react to a situation out of fear, desire, or other strong emotions. Higher order thinking has been called metacognition, which is the ability to observe and think about your own thinking and assert some control over your cognitive processes. When people want to change it depends on whether the new brain can gain some control over the automatic habit patterns of the old brain. Self-management principles and steps There are three basic principles that circumscribe how to effectively manage your many big and small commitments so that you can get them accomplished:

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1. Clarity of mind

The first principle is that, if you’re carrying too much around in your head, your mind can’t be clear. If your mind isn’t clear, you can’t focus. If you can’t focus, you can’t get anything done. Thus, anything you consider unfinished needs to be placed in some kind of trusted system outside of your head 2. Clarity of Objectives Second, you have to be clear about exactly what you need to do and decided the steps to take toward accomplishing it.

3. An Organized System Third, once you’ve decided the action you need to take, you need to keep reminders in a well-organized system. There are five steps to gain better control of your life and the many things you have to do by mastering them. 1. Empty Your Head You first have to see all the many things weighing on your mind. Therefore, the first step is to collect all the activities, duties, tasks, or commitments that are demanding part of your attention. Have a place to put things into it and out of your mind so you can focus. However, keep the buckets to a minimum.

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2. Decide the Next Action For each item in your bucket, decided the real, specific, physical action you need to take next. a. Do It: If something can be done in less than two minutes, do it now. Remove any items on the list that require no action. b. Delegate it: Ask yourself If you’re the right person to handle a task. If something can be done as well by someone else, delegate it. c. Defer it: If something will take longer than two minutes but cannot be delegated to someone else, you’ll have to defer it. Review regularly to ensure completion 3. Get Organized The third step si to organize all the items you’ve deferred. At this stage, schedule any appointments you identified as “next actions” and record these on whatever calendar you check daily. For all other items, keep a list of “Next Actions” in order to complete when you have time to do so. 4. Perform a Weekly Review Once a week, review your complete Next Actions list and your calendar from the coming week. During this review, you’ll take 4 actions: (1) collect and process all the new stuff; (2) review your entire system; (3) Update your lists; and (4) get clear, up-to-date, and complete about what needs to be done next. 5. Now Do It After collecting, processing, organizing, and reviewing your current commitments, you’ll have a better sense of what needs ...