Describe how managers typically change in their first year on the job?
How does the way a company is managed affect its competitive advantage?
managers change in their first year on the job, in ways that would effect their performance, when it comes to what is expected from them, and how they can exact effectiveness, among their subordinates.
To describe how managers typically change in their first year on the job, we need to consider the various challenges and learning opportunities they encounter. Here are some common changes that managers may experience in their first year:
1. Understanding the organizational culture: Managers need time to acclimate and understand the values, norms, and expectations within the organization. This includes learning about communication styles, decision-making processes, and how work is done.
2. Building relationships: Developing effective working relationships with colleagues, employees, and superiors is critical. Managers must understand their team dynamic, establish trust, and identify key stakeholders to collaborate with.
3. Learning organizational processes: Managers need to navigate through existing processes, protocols, and organizational structures. They may need to learn about budgeting, performance evaluation, hiring and dismissal policies, or any other specific procedures.
4. Gaining industry and market knowledge: Managers should familiarize themselves with the industry trends, market competition, and customer expectations. They need to develop a strategic understanding of the business environment to make informed decisions and drive growth.
5. Developing leadership skills: As managers, individuals must develop their leadership abilities. This may involve improving communication skills, delegating tasks effectively, resolving conflicts, motivating employees, and adapting to different management styles.
Regarding how the way a company is managed affects its competitive advantage, management practices significantly impact an organization's ability to outperform competitors. Here's how:
1. Strategic decision-making: Effective management establishes a clear vision, sets goals, and develops strategies to achieve them. This proactive approach ensures that the company is well-positioned to exploit market opportunities, adapt to challenges, and stay ahead of competitors.
2. Efficient resource allocation: Proper management ensures optimal allocation of resources, including human, financial, and technological resources. This maximizes productivity, reduces waste, and enhances cost-effectiveness, giving the company a competitive edge.
3. Employee engagement and motivation: Good management practices foster a positive work environment, promoting employee engagement, motivation, and satisfaction. Engaged employees are more productive, innovative, and loyal, enhancing the company's ability to attract and retain top talent.
4. Effective communication and collaboration: Efficient management enables seamless communication and collaboration across different levels and departments. This breaks down information silos, boosts teamwork, and facilitates knowledge sharing, leading to faster decision-making and problem-solving.
5. Continuous improvement and innovation: Strong management encourages a culture of continuous improvement and innovation. By implementing processes for feedback, evaluating performance, and fostering creativity, companies can adapt quickly to changing market demands and maintain a competitive advantage.
In conclusion, managers typically experience changes in their first year on the job as they adjust to the organizational culture, build relationships, learn processes, gain industry knowledge, and develop leadership skills. The way a company is managed directly influences its competitive advantage by driving strategic decision-making, efficient resource allocation, employee engagement, effective communication, and encouraging continuous improvement and innovation.