LE01

In the first class of Principles of Organization & Management by Professor Dr. T. Prasad, he brought the concept of earning while studying. He made us realize the opportunity cost of doing an MBA and it made me realize that I should make the most out of the two years at NITIE.

 GOAL SETTING

I learnt about Goal Setting and Management techniques. It is easy to remember the details by just recollecting the word SMARTER. Some of the important things to remember are:

S: Specific

M: Measurable

A: Attainable

R: Realistic

T: Timely

E: Evaluate

R: Re-evaluate

I saw the implementation of goal setting with the help of a block building exercise conducted in the classroom. The activity seemed simple in a sense that one just had to put blocks on top of one another to make a tall building. The person arranging the blocks had to use his ODD hand. A student built 17 blocks, and when he was asked to do the same thing blindfolded almost everyone predicted that he would be able to do lesser this time. This made us think back on the way we should set our goals.  Goals should not be so low that they diminish productivity and are not compliant with the employee's ability and skill and on the other hand, they should not be so high that they appear to be demotivating.

Excellence = Efficiency * Effectiveness

I also learnt that Excellence = Efficiency * Effectiveness.

Excellence is all about being outstanding, in whichever field we are and the components which can lead us in achieving excellenece are effectiveness and efficiency.

Effectiveness is all about being able to bring the required, for instance in a business to be effective you need to achieve the targets which might have been set even a little above our potential whereas efficiency is all about making the process of becoming effective as much streamlined and quick as possible and in deciding those efficient processes we need to be effective, so, both complement each other.