Relevance Of Values In Managers

LESSON 30: RELEVANCE OF VALUES IN MANAGERS In the previous lecture we studied that what is the meaning of values but have you ever given it a thought that why as a budding manager you should know the importance of these values also. Why it is necessary for you to inculcate all these values so as to become a successful person in life. Let us talk about values today.

Relevance of Values in Managers

Points to be covered in this lesson:

2. Knowledge of business ethics will help managers in resolving ethical issues/dilemmas as they arise.

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Relevance of values Team-work

1. Young managers should understand and be aware of the reasons that underline moral principles. These are helpful in fostering ability to reason when applying these principles. It is vital part of ensuring compliance by managers with company standard for conduct.

3. Knowledge of values will help managers in setting highly responsible tone for the organization - in individual judgments and decisions whether ethical or not. 4. The study of business ethics provides conscientious managers with morally responsible approach to business. The need for responsible manager is acute as questions of business ethics cannot wholly be determined by law and government organization but must remain the concern of individual manager. 5. It helps manager to realize their social responsibility. Many organizations find it wise to go beyond their primary mission and take into the needs of the community. Business ethics make managers more accountable for social responsibility.

A growing number of today’s economy captains believe that people make the difference in business. The question is, “What kind of people make the difference?” Many progressive organizations want to employ and develop only people who possess a special predefined set of competencies (creativity, innovation, adaptability, teamwork, personal integrity, etc.). These competencies guarantee that business strategies and relevant goals will be fulfilled while staying in tune with corporate culture and values. And managers create a unique category, as they actively participate in formulating business strategy and are also directly responsible for ensuring that planned objectives will be met.

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6. The study of business ethics inculcates high level of integrity in managers. Goal of ethics education is to share knowledge of, build skills and develop minds. It helps to gain clarity and insight into business ethics and to avoid business misconduct in organizations. The study of business ethics helps managers to arrive at a decision that he feels to be “ right and proper” ‘just’. It facilitates individuals to understand their moral standards and ethical norms, beliefs and values so that they can decide when faced with business dilemma. 7. Business ethics create awareness of social and moral values through education because erosion of essential values and increasing cynicism in society as leading to violence, superstition and fatalism. 8. Knowledge and awareness of the concept and practices of business ethics is equally helpful to practicing managers in managerial conduct and decision-making.

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9. Business ethics improve the skills of reflective managers both in analyzing concrete moral issues and in deliberating and deciding upon strategies for solving moral dilemmas.

Group and Team-work Seven Characteristics Of High-Performing Teams Seven characteristics, depicted by the acronym PERFORM, best summarize the desired group behaviors we have identified that are necessary for a group to become a high-performing team. The seven characteristics are: Purpose, Empowerment, Relation- ships and Communication, Flexibility, Optimal Productivity, Recognition and Appreciation, and Morale. Here is what we mean by each of these characteristics: Purpose. Members of high-performing teams share a sense of common purpose. They are clear about what is the team’s “work” and why it is important. They can describe a picture of what the team intends to achieve. They have developed mutually agreed upon and challenging goals that clearly relate to the team’s vision. Strategies for achieving goals are clear. Each member understands his or her role in realizing the vision. Empowerment. Members are confident about the team’s ability to overcome obstacles and to realize its vision. A sense of mutual respect enables members to share responsibilities, help each other out, and take initiative to meet challenges. Policies, rules, and team processes enable members to do their jobs easily. Members have opportunities to grow and learn new skills. There is a sense of personal, as well as collective, power. Relationships and Communication. The team is committed to open communication and group members feel they can state their opinions, thoughts, and feelings without fear. Listening is considered as important as speaking. Differences of opinion and perspective are valued and methods of managing conflict are understood. Through honest and caring feedback, members are aware of their strengths and weaknesses as team members. There is an atmosphere of trust and acceptance and a sense of community. Group cohesion is high. Flexibility. Group members are flexible and perform different tasks and maintenance functions as needed. The responsibility for team development and leadership is shared. The strengths of each member are identified and used, and individual efforts are coordinated when necessary. The team is fluid and open to both opinions and feelings, hard work and fun. Members recognize the inevitability and desirability of change, and adapt to changing conditions. Optimal Productivity. High-performing teams produce significant results. There is a commitment to high standards and quality results. They get the job done, meet deadlines, and achieve goals. The team has developed effective decision-making and problem-solving methods that result in achieving opti- mum results and encourage participation and creativity. Members have developed strong skills in group process as well as task accomplishment. Recognition and Appreciation. Individual and team accomplishments are frequently recognized by the team leader, as well as by team members, by celebrating milestones, accomplish- ments and events. Team accomplishments are valued by the larger organization. Members feel highly regarded within the 86

team and experience a sense of personal accomplishment in relation to their team and task contributions. Morale. Members are enthusiastic about the work of the team, and each person feels pride in being a member of the team. Confident and committed, members are optimistic about the future. There is a sense of excitement about individual and team accomplishments as well as the way team members work together. Team spirit is high. Of these seven characteristics, two are most important: Optimal Productivity and Morale. To be a successful team the group must have a strong ability to produce results and a high degree of satisfaction in working with one another. The overall group’s level of productivity and morale is shaped by specific behaviors that may be performed by any member of the group. The needed behaviors must either provide direction (to increase productivity) or provide support (to increase morale). Giving Direction Providing direction helps to increase the productivity of a group. Direction can best be given in three forms: structure, control, and supervision. Structure. Groups need structure, or a game plan, to make progress. Structure can come from an agenda or from asking questions to help to clarify roles and goals of the group. Control. Once a plan is established, the group needs to stick to it. This involves helping the group to focus and limit its activities. For example, limit interruptions so that members can finish stating their ideas or put time limits on the discussion of various aspects of the agenda. Supervision. Important in shaping any behavior is time for observation and redirection of behaviors as needed. For groups this means monitoring and evaluating how the group is doing and what it needs to reach its goals and then helping as appropriate. Helping can include providing additional information, making a suggestion, or summarizing and recasting what yet needs to be done. Giving Support It is also important for a smoothly functioning team that members provide support to each other. This support can best be given in three ways: praising, listening and facilitating. Praising. Sincere, specific praise given in a timely manner has been proven time and time again to be one of the most effective means of reinforcing desired behaviors. In a group context, praise can be given for productive contributions such as new ideas, suggestions, or factual data. Praising encourages others to be involved with the group in a positive way. Listening. Few behaviors underscore the value you place on another person as much as the ability to listen. Demonstrate that you have heard and understood other members by using both verbal cues (for example, paraphrasing) and nonverbal cues (for example, head nods). Facilitating. This activity of assisting with members’ interactions can take many forms such as leading the discussion or encouraging quiet members to contribute to the group. A facilitator helps move the group toward its goal in a way in 11.292

which participation and commitment to the group process are both high. The responsibility for initiating behaviors that give direction and support to the group should be shared by all members. With practice, the timing of these behaviors will improve and they can become routinely used by all members. When this happens the group can easily assume the other characteristics needed to PERFORM and will be well on its way to becoming a high-performing team.

So, that is why it is very essential for you to imbibe and inculcate values in yourself.

Overview

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An understanding of values is essential for the manager as he/she has to take decisions regarding ethical issues/ dilemmas.

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The seven characteristics of high-performing teams are: Purpose, Empowerment, Relationships and Communication, Flexibility, Optimal Productivity, Recognition and Appreciation, and Morale.

Activity Discuss the characteristics of high-performing teams.

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