Management exists to deliver additional value, period. Investors, owners, and customers (sometimes poorly called consumers) have many options when deciding where to invest, deposit, or spend their resources. Management, through the efforts of managers, delivers the extra value that causes an investor, owner, or customer to choose your organization over any other. As a manager, you will build organization and profession specific practices, a toolkit. From a Pracademic perspective here are the first four decision, thinking, evaluation, etc. tools to add to your kit.
Time. Time is the first tool in your value delivery toolkit because it is the resource you cannot control. You cannot stop time, speed it up, slow it down, or alter it in any way. Time is a value delivery constant. Acknowledging your inability to influence time, allows you to accept it as the driving force in creating and evaluating (measuring) value.
Timing. Value creation can be planned, viewed, or evaluated as short term (urgent) or long term (important). Managers understand the desire of their investors for short-term value, as well as the long-term value needs of their owners and customers. When choosing how to spend the organization’s resources, implement a change, or find other ways to deliver value, managers balance the timing requirements between urgent and important. This activity is management.
To balance urgent and important, the manager’s toolkit needs two evaluation tools (frames, ways of thinking, decision helpers, etc.), the OR and the AND. To deliver value to all three parties (investors, owners, customers) a manager will choose to execute one value item (project) OR another based on potential return (return on investment, ROI). However, the most effective managers, those that deliver the most value, apply the AND tool from their toolkit to seek ways to create immediate value (urgent) while preparing for or supporting long-term value (important).
How a manager applies OR and AND is specific to her / his organization, the investors’ definition of urgent, the owners’ view of long-term, and the customers’ value perspective. Every organization is different, hence there are no universal managers. However, there is universal management, or rather there is a universal management function, that is to deliver value to all concerned parties. Time, Timing, Or, and AND are four tools to help every manager achieve the universal management function
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