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Category: Management

Benefits of Choosing IIM Lucknow for Executive Programs

Posted on by Imarticus Learning

Are you thinking about enrolling in an executive program to further your career? The renowned Indian Institute of Management (IIM) Lucknow is your best option. 

Executive education refers to academic courses offered by graduate business schools to executives, managers, and business leaders worldwide. According to estimates by Business Week magazine, executive education in the United States generates $800 million in yearly revenue, with university-based business schools accounting for around 80% of the market. These programs are provided by several historically elite universities, business schools, and other academic institutions.

This blog explores the advantages of selecting IIM Lucknow for executive programs.  Here are some reasons why IIM Lucknow stands out as an outstanding option for professionals seeking career progress and success, from its top-notch professors to its transforming learning environment.

What are the benefits of IIM Lucknow’s executive education?

If you consider advancing your career through executive education, you might have encountered the renowned IIM Lucknow executive program. It’s crucial to investigate the experiences of individuals who have previously completed this transforming journey before making such a significant decision. 

Reading an IIM Lucknow executive programs review may give you useful information about the program’s structure, instructor qualifications, networking possibilities, and overall effect on participants’ professional development.

Top benefits of selecting IIM Lucknow for executive programs

Benefits of IIM Lucknow’s executive education:

  • Renowned Faculty with Industry Experience

Its renowned faculty is one of the biggest benefits of enrolling in an executive program at IIM Lucknow. The school is proud of its outstanding faculty, which includes intellectual luminaries and business leaders who offer a wealth of real-world experience to the classroom. The learning process is enriched and made extremely relevant for professional development by these knowledgeable mentors, who convey theoretical ideas and provide insightful advice based on their relevant real-world experiences.

  • Tailored Curriculum to Suit Industry Needs

IIM Lucknow takes pride in its well-crafted executive education program tailored to the constantly changing requirements of diverse businesses. The programs are designed to give you cutting-edge knowledge and the tools you need to meet the difficulties of the contemporary corporate environment. The program is designed to equip you with the information you need to succeed in your profession, whether in leadership development, strategic management, or specific domain knowledge.

  • Networking Opportunities

You join a lively and varied community of like-minded individuals from various fields and backgrounds when enrolling in the Executive Program at IIM Lucknow. Beyond the classroom, this networking opportunity helps you build relationships that will help you in both your personal and professional lives. Interacting with such a wide group of people may result in joint initiatives, fresh business ideas, and a deeper understanding of market trends.

  • Flexibility and Convenience

IIM Lucknow is aware of the difficulties experienced by working adults trying to juggle their professional life with their ones and their schooling. Their Executive Programs were therefore created with flexibility in mind. The institute makes it easier for busy professionals to achieve their educational ambitions without compromising their work obligations by offering part-time and online learning choices.

  • Case-Based Learning Approach

Unlike traditional academic models, IIM Lucknow uses a case-based learning strategy, which entails evaluating real-life business scenarios and resolving challenging issues enterprises encounter. By honing your critical thinking and decision-making abilities, this strategy helps you successfully apply your theoretical knowledge to practical circumstances. You stand out as a well-rounded and competent leader because of your valuable learning experience from this strategy.

  • Alumni Network and Career Support

After graduating from IIM Lucknow, you will have access to a large alumni network that may be a valuable resource for your professional development. The alumni network is renowned for its close relationships and eagerness to help other grads. The institute also provides extensive career assistance services to aid in your successful job market navigation. IIM Lucknow is devoted to ensuring your professional progress even after you graduate from the program, including everything from career counseling to help with job placement.

  • Holistic Development

IIM Lucknow is committed to fostering both your professional development and personal improvement. The Executive Programs include exercises that improve self-awareness, emotional intelligence, and leadership skills. This all-encompassing approach guarantees that you develop into a well-rounded person equipped to meet leadership demands with empathy and resiliency.

  • State-of-the-Art Infrastructure

The expansive campus of IIM Lucknow is furnished with cutting-edge facilities, fostering an environment favorable to study and development. The institute offers all the tools required for a successful educational experience, including contemporary classrooms, well-stocked libraries, and study areas with cutting-edge technology.

  • Global Exposure and Collaborations

Selecting IIM Lucknow for your executive program allows you to collaborate and get exposure on a global scale. The institution collaborates with prestigious international universities and frequently holds guest lectures and seminars from top business executives worldwide. This exposure will expand your horizons and keep you updated on global best practices in your industry.

  • Prestigious Reputation and Brand Value

Last but not least, an IIM accreditation carries unrivaled status. The excellent levels of education and training that come with an IIM degree are recognized and valued by employers. A certificate from IIM Lucknow’s Executive Program can give you a substantial edge on the job market and advance your career to new heights.

The Final Words

The advantages of enrolling in the Executive Program at IIM Lucknow are numerous and unmatched. The prospects for development and achievement are limitless, from receiving instruction from the top teachers to experiencing life on a global scale and benefiting from the support of a robust alumni network.

Welcome to the IIM Lucknow and Imarticus Learning-created Executive Program in AI for Business, a transformational experience designed specifically for AI professionals. This innovative curriculum is designed to help you reach your full potential as a leader in this quickly changing environment.

Accept a hands-on learning environment where theoretical understanding and real-world application are smoothly woven together. As you set out on a mission for development and innovation, arm yourself with crucial machine learning and artificial intelligence knowledge. 

Take advantage of the chance to acquire critical thinking, problem-solving, teamwork, and technical proficiency abilities. Your goals may become a reality with the Executive Program in AI for Business.

So, take the plunge and enroll at IIM Lucknow to begin a transforming educational experience. This choice will certainly improve your career.

Future of Wealth Management

Posted on by Imarticus Learning

The fourth industrial revolution put forth several lucrative industries, which quickly became the mass-favourite, with thousands of new entrants every year. From computer science to marketing, many career paths promise exponential growth at the cost of unparalleled hard work. 

Amidst all the in-demand career paths, wealth management is offering lucrative opportunities through the shadows only to those looking for a sustainable and rewarding career path. With the new-age systems’ implementation, wealth management’s future seems more promising. 

This blog underlines the potential future of wealth management and what aspiring generations can expect when compared with other in-demand career options. On the other hand, we have also ensured to portray the effect of technology on the lucrative career in fintech and how it will further evolve wealth management. 

What is Wealth Management?

Wealth management is an advisory service for affluent clients looking to invest and use their assets and cash to earn more. It follows a consultative approach, where a wealth manager, with all their knowledge of the current industry dynamics, offers valuable advice to their clients. 

While in many cases, instead of providing advice, the wealth manager handles the client’s assets while leveraging the necessary trends deemed profitable by the manager. 

Wealth Management Evolution and Future Scope

pgdm in fintech course by delhi publich school

Wealth management as an industry or a career has been witness to a long and turbulent evolution, with diversification at every step. It is impossible to put up a date on the start of this profession. However, back in the 1970’s wealth management only revolved around company stocks and bonds. 

Even though bonds and stocks are still available, the area of operation has increased exponentially. With the internet explosion and the consequent technological evolution, trading worldwide became possible. Careers in fintech became a viable option for students back then, and the industry has steadily grown.

Technological Evolution 

Technology has been a crucial driver in the evolution of wealth management as an industry, with the increase in connectivity providing wealth managers with a more playing field to invest in. The new-age wealth manager is now able to invest in foreign stocks, bonds, lands, startups, and more. Those who are looking to kickstart their career through a financial technology certification course will have more avenues for creativity in the future. 

Digital transformation and the implementation of CRM, promoting interconnectedness, is resulting in better insights, as wealth managers are being able to pool their opinions. Furthermore, with the inclusion of Machine Learning (ML) and Artificial Intelligence (AI), wealth managers can replace the grunt work with precise suggestions pooled from all the data on the internet. All these, complied together, are disrupting and creating a new eco-system, which needs technologically aware individuals with excellent foundational skills, achievable through a financial technology certification course. 

Current and Future Demand

Nowadays, with the increasing workload, individuals have often started to rely on wealth managers to do the needful with their assets. Studies have shown that the demand for wealth management is bound to increase by CAGR 11% due to the rise of high-net-worth individuals, further highlighting the rewards one can achieve through a career in fintech. 

Furthermore, considering the current demand in India estimates highlight a count of thirteen-thousand inhabitants with around USD 30 Million worth of assets. This number is bound to rise further since India is touted as the fastest-growing economy with forecasted GDP growth of 6.5%, equating to the creation of more high-net-worth individuals who will need reliable wealth managers. 

With a promising future demand, one can pursue a career in fintech by taking part in financial technology certification courses. However, with more demand and connectivity, students looking to start a career in fintech must also be aware of the regulatory challenges which accompany foreign and domestic investments. 

Conclusion

The current demographic is a mixture of non-tech savvy and tech-aware individuals, which further enhances the opportunity wealth management offers even to those looking to start a career in fin-tech. However, with the advancement and inclusion of technology, the upcoming wealth managers must possess a sound knowledge of the current and oncoming technological models, which can further disrupt the industry. Therefore, such candidates must choose a financial technology certification course, such as PGDM in Fintech offered by Imarticus, which puts equal emphasis on wealth management and technology. Therefore, ensuring irreplaceable and technologically-savvy wealth managers of the future. 

Supplier Relationship Management and Strategic Sourcing

Posted on by Imarticus Learning

In the present boosted and continuously growing world economy, multiple companies are facing the realities of the market on customer demands, shrinking lifecycles of products and steep erosion prices.

This is where supplier relationship management becomes crucial for maximising the manufacturer’s supply base.

Supplier Relationship Management is primarily defined as a systematic approach for properly evaluating vendors that are capable of contributing to the supply of goods.

The global market size of the supply chain management had a net worth of $28.9 Billion in 2022 which is supposed to touch 45.9 Billion dollars by 2027. 

This article primarily introduces SRM and strategic sourcing to find the best supply chain management course and mentions the significance of shaping or optimizing the global supply chain system.

Understanding Supplier Relationship Management (SRM):

best advanced certification program in digital supply chain management course

Supplier Relationship Management (SRM) is a methodical process to deal with the management of supplier cooperations and relationships. It includes assessing and choosing suppliers, estimating performance, cultivating joint effort, and settling conflicts. 

SRM expects to upgrade quality, relieve risks, drive advancement, and enhance by and large performance for long-term business success.

Supplier Evaluation and Selection:

Supplier evaluation and selection is a basic part of compelling supplier relationship management. It includes evaluating suppliers in light of rules such as capacities, moral practices and monetary security. By picking suppliers lined up with authoritative objectives and values, organisations can guarantee solid associations that add to progress and esteem creation.

Supplier Performance Measurement:

Supplier performance measurement is fundamental in supplier relationship management. It includes assessing suppliers in view of key performance indicators (KPIs) like on-time conveyance, quality, responsiveness, and cost. By checking and estimating supplier performance, organisations can guarantee responsibility, drive nonstop improvement, and upgrade the general production network effectiveness.

Collaboration and Communication:

Collaboration and communication assume an urgent part in successful supplier relationship management. By cultivating open and straightforward communication channels, organisations can lay out trust, adjust goals, and offer indispensable data to suppliers. Cooperative endeavours empower innovation, joint critical thinking, and a more grounded organisation that drives shared accomplishment and worth creation.

Conflict Resolution:

Conflict resolution is a crucial part of supplier relationship management. By immediately tending to conflicts with suppliers in a helpful and fair way, organisations can safeguard sound long-term relationships. Compelling conflict resolution procedures, like undivided attention, exchange, and split the difference, advance shared figuring out, encourage trust, and guarantee the progression of fruitful supplier associations.

The Role of Strategic Sourcing:

Strategic sourcing empowers supply chain analysts to optimise costs, smooth out tasks, oversee risks, encourage supplier relationships, and go with informed choices in view of information examination.

It upgrades its capacity to drive esteem and nonstop improvement inside the supply chain.

Strategic sourcing plays a vital role in supply chain management and gives huge advantages to supply chain analysts.

Strategic sourcing empowers supply chain analysts to distinguish cost-saving open doors by utilising their insight into market patterns, supplier abilities, and discussion abilities.

Supply chain analysts assume a basic part in relieving risks inside the supply chain. Strategic sourcing distinguishes potential risks connected with supplier interruptions, quality issues, or international elements.

  • By streamlining acquirement processes and getting good terms and valuing, strategic sourcing adds to cost reduction efforts. Supply chain analysts use strategic sourcing to optimise supply chain tasks.
  • By choosing suppliers strategically, they can guarantee a dependable and productive progression of labour and products. This incorporates assessing supplier abilities, limits, and performance to line up with the association’s supply chain goals.
  • By enhancing suppliers, laying out alternate courses of action, and observing supplier performance, analysts can proactively address risks and limit their effect on the supply chain.

Benefits of Integrating SRM and Strategic Sourcing:

Integrating Supplier Relationship Management (SRM) and Strategic Sourcing brings a few advantages. It fortifies supplier organisations, further develops supply chain productivity, and drives cost reserve funds.

  1. By really overseeing supplier relationships through SRM, associations can improve collaboration, innovation, and risk moderation.
  2. Strategic sourcing optimises supplier selection, exchange, and contracting, prompting work on cost adequacy, quality, and responsiveness.
  3. The combination of SRM and strategic sourcing advances esteem creation, upper hand, and long-term supportability.
  4. It guarantees that the obtainment interaction lines up with hierarchical objectives and encourages commonly helpful relationships with suppliers, eventually improving by and large business achievement.

Final Thoughts:

The incorporation of SRM and strategic sourcing guarantees arrangement with authoritative objectives and encourages long-term supportability. By embracing these methodologies, organisations can reinforce their supply chains, boost esteem, and make long-running progress in a highly competitive market.

In general, concentrating on strategic sourcing and supply chain management course empowers people to become capable supply chain analysts. In case you are interested in studying supply chain management the Imarticus Digital Supply Chain Management with E&ICT, IIT Guwahati course provides the information and devices expected to optimise costs, relieve risks, encourage supplier collaboration, and drive esteem inside the supply chain. Visit Imarticus Learning for more information.

Diversity and Inclusion in the Workplace: Best Practices for HR

Posted on by Imarticus Learning

In today’s globalised and interconnected world, the concept of diversity and inclusion has become much more critical than ever for business enterprises. According to a recent survey, as much as 57% of recruiters feel that their talent acquisition strategies are designed specifically for attracting diverse candidates. 

However, that being said, creating a diverse and inclusive workforce is not just about checking boxes but includes fostering an environment wherein everyone feels valued and respected. On that note, mentioned below are some of the best practices HR professionals can implement to build a diverse and inclusive workforce.

What is Workplace Diversity and Inclusion?

Workplace diversity and inclusion refers to the practice of creating a work environment that embraces and values individuals from various backgrounds, experiences, as well as perspectives. However, when you take a closer look at this concept, you will realise that diversity and inclusion are actually quite different from each other and do not mean the same thing. 

Simply put, diversity refers to the presence of individuals with varied backgrounds, perspectives, and characteristics, within an organisation. It encompasses a wide range of factors, including, but not limited to, race, ethnicity, sex, age, nationality, and socio-economic status.

On the other hand, inclusion signifies creating a work environment where all individuals, irrespective of their differences, feel welcomed and valued. It primarily focuses on promoting a sense of belonging for every employee in an organisation and ensures that every voice is given due importance and consideration. 

If an organisation is aiming to truly offer an inclusive work environment, they need to implement policies and practices that promote fair and unbiased hiring, opportunities for the professional development of all employees, and diversity recruitment.

Diversity and Inclusion Best Practices

Listed below are some of the best and essential practices that every organisation must implement in order to promote a diverse and inclusive workplace.

Establish A Sense Of Belonging

Fostering a sense of belonging is essential for a workspace to be inclusive and cohesive for all its employees. HR professionals should conduct in-depth diversity training sessions for all staff members to achieve relevant results. Unconscious bias and cultural competency should be the main topics of discussion throughout these sessions, which should also promote candid conversations to clear up any misunderstandings or concerns. 

Equal and Fair Treatment of All Employees

Fairness is yet another crucial prerequisite for employees to feel valued and respected. More often than not, unfair salaries or undue advantages to employees of different backgrounds can create an unhealthy workplace culture. To prevent the same, HR professionals should develop and enforce comprehensive non-discrimination policies that protect employees from any form of discrimination based on age, race, gender, sex, or any other protected characteristic.

 Conduct Regular Diversity Audits

Conducting audits on a regular basis helps keep track of progress, identify potential areas for improvement, and hold the organisation accountable for diversity and inclusion goals. In addition to this, it also helps to understand the effectiveness of diversity initiatives.

Promote Diversity In Hiring

In order to build a diverse workforce, HR professionals must also implement the necessary changes in their hiring process. This includes expanding the talent pool through targeted outreach, implementing bling resume screening processes to prevent the occurrence of unconscious bias, and partnering with diverse organisations. In addition to this, interviewers must also be trained in inclusive interviewing techniques that focus on skills and qualifications rather than cultural fit. 

Conclusion

Adhering to these best practices can help HR professionals to create a workplace where every employee feels empowered to reach their full potential, thus fostering a more inclusive and high-performing organisation. If you wish to explore more about such practices or simply enhance your people management skills, you can check out multiple strategic HR management courses that are available online.

One such among them includes the People Leadership and Strategic HR Management program brought to you by the prestigious IIM Lucknow. Such IIM Executive HR courses are specifically designed for business managers and emerging senior HR professionals who wish to advance their careers in this field. Additionally, with the IIM L leadership course, you also get to explore multiple benefits, such as access to masterclass sessions and professional certifications, among others.

Best Leadership Styles with Examples

Posted on by Imarticus Learning

The world of effective leadership is illuminated by different styles that resonate in different contexts. These key leadership styles include adaptive approaches that strengthen teams and move organisations forward. As Martin Luther King Jr. exemplified, transformational leadership creates change through inspiration and vision. Situational leadership, as demonstrated by figures such as General Dwight D. Eisenhower, adapts strategies to the developmental levels of followers. Servant leadership, as embraced by Mother Teresa, emphasises humility and healing others. 

Read the article to learn more about the types of leadership styles, their dynamic interplay and significance in today’s unpredictable work scape and the senior leadership programs available.

Transformational Leadership

Transformational leadership is a style that initiates change and innovation by inspiring and motivating followers with a compelling vision. A notable example of transformational leadership is Steve Jobs. The founder of Apple revolutionised the technology industry with his visionary ideas and charismatic communication. His ability to envision a future, where the personal computer is intuitive and easy to use, motivated his team to create unique products like the iPhone and iPad. With his passion and dedication, Jobs showed how transformational leaders can challenge the status quo and foster a culture of innovation that reshapes industries and societies.

Situational Leadership

 

Situational leadership is a multifaceted approach that adapts leadership behaviour to the individual team members’ level of readiness and development. An example of this style is Nelson Mandela, who showed adaptability during the apartheid era in South Africa. Mandela skillfully adapted his leadership tactics to the evolving political landscape and the needs of his followers. He moved from confrontation to negotiation and reconciliation as the circumstances required. That flexibility allowed him to lead his people on a transformative journey to democracy. Mandela’s eventual management demonstrates the ability to adapt strategies to achieve optimal results, making it an essential tool in complex and dynamic environments.

Authentic Leadership

Authentic leadership focuses on authentic, transparent, and self-aware leadership practices that build trust and nurture meaningful connections. An illustrative figure of authentic leadership is Sheryl Sandberg, COO of Facebook. Through her candour about the challenges women face in the workplace and her personal experiences, Sandberg has inspired a global dialogue on gender equality. Her ability to lead with vulnerability and authenticity made her a role model and helped transform workplace dynamics. Sandberg’s approach shows how authenticity in leadership fosters an environment of mutual respect and empowers people to reach their full potential while creating lasting positive change.

Adaptive Leadership

Adaptive management involves dynamic responses to uncertain and rapidly changing environments that foster innovation and flexibility. Elon Musk, CEO of companies like Tesla and SpaceX, embodies this style in his latest technology and space exploration ventures. Musk’s adaptive leadership is reflected in his willingness to change strategies, navigate challenges, and redefine industries. For example, in the face of adversity, he redesigned and successfully launched reusable rockets that revolutionised space travel. Musk’s ability to lead his organisations through uncharted territory shows how adaptive leadership can promote progress, embracing change, pushing boundaries, and creating new paradigms for success.

Blending Leadership Styles

Combining management styles requires the skilful integration of different approaches in different situations, leading to a comprehensive and effective management strategy. A good example comes from the presidency of Barack Obama, where he perfectly combined transformational and authentic leadership. He inspired change through his vision and charisma, promoting open dialogue and engaging with audiences personally. This combination helped him navigate complex administration and public opinion issues and created a legacy of dynamic leadership. The advantage of such a leadership style is the fusion that lies in its adaptability— it allows leaders to meet multiple challenges, fostering innovation, empathy, and resonance with followers, ultimately fostering a comprehensive leadership path.

Choosing the right style

Choosing the appropriate leadership style depends on several factors constituting the optimal approach in each context. Organisational culture, team dynamics, and overall goals are critical in this choice. A leader’s ability to match their style with these elements increases their effectiveness in leading their team to success. Equally critical is self-awareness — a keen understanding of one’s strengths, weaknesses, and tendencies. This introspection allows leaders to determine which style best suits their innate qualities, fostering authenticity and resonance. 

The intersection of these elements empowers leaders to make informed decisions, creating a symbiotic relationship between style and environment that propels teams toward achievement while fostering a harmonious leadership journey.

Conclusion

The study of different leadership styles reveals their transformative effects. Imarticus Learning’s Global Senior Management Programme is a transformative course designed to elevate experienced professionals to a new leadership level. While engaged in this senior leadership programming, the immersive experiences, strategic insights, and cutting-edge tools, participants will improve their leadership, strategic thinking, and decision-making skills. This programme empowers leaders to navigate complex challenges, foster innovation, and advance organisational success worldwide.

Conflict Resolution Techniques for Leaders and Managers

Posted on by Imarticus Learning

Conflicts in workplaces are inevitable. People from different backgrounds come to work together. These individuals have different priorities and values, and most resist change. 

Conflicts are always uncomfortable for most individuals in both professional and personal contexts. However, learning to handle conflicts – especially in a work setting – healthily and productively is highly essential. 

Learning strategies for resolving conflicts is an essential part of leadership. With effective conflict management strategies, workplace conflicts can easily be handled. 

Conflict resolution is a skill which is learnt best with experience and practice. 

However, starting with some familiar and effective conflict resolution strategies will lay a solid foundation to work from for the upcoming years. 

This blog will discuss the different conflict resolution strategies managers and those in leadership roles must learn. Enrolling in a general management programme can also help you understand the techniques.

What is conflict, and why does it happen?

Conflict can be defined as a process which unfolds when two or more individuals’ interests are not in alignment with each other. A conflict can also happen because of social status, cultural beliefs, an individual’s biases etc. 

In a work setting, conflicts of opinions, interests, beliefs and desires can escalate to serious arguments harming team bonds if not dealt with properly. 

These issues mainly occur when individuals with conflicting points of view have to reach an agreement. Individuals on teams have different needs and goals and don’t always align. 

Conflicts in the workplace can also occur because of poor communication. Unfulfilled expectations and crossed boundaries occur when teams donot prioritise open communication. 

The best way to avoid conflicts is to create a work culture where people can communicate their interests, needs, feelings, thoughts, emotions and opinions honestly and transparently. 

Why is conflict management essential for leaders?

Effective conflict management allows leaders to create a team of members working together to develop strategies, achieve goals and streamline processes. 

When a team is built with individuals with varying personalities, it creates a potential for conflict. However, with proper knowledge and understanding of conflict management skills, managers can resolve conflicts quickly when they happen or avoid them altogether.

With effective conflict management, you can get a few more benefits, such as:

1. Improvement in processes 

Resolving any conflict a team member might have with the goals or how to achieve them helps find areas for improvement. As a leader, allow members to offer opinions and thoughts on resolving issues using a positive conflict management method. 

Using feedback to solve conflicts can help judge whether there is any potential for similar conflicts in the team. 

Leaders can find ways to improve the current processes and make their assigned goals stronger. This will help prevent other issues and quickly achieve your goals. 

2. Better teamwork

When there is a conflict between team members, it is best to work on achieving a solution favourable for all parties involved. 

When a conflict between two or more members is resolved, push them to find ways to collaborate, improving productivity and morale. As the team works towards a common goal, implement some of these solutions throughout the rest of the team to strengthen it. 

3. Stop any future conflicts

By adequately understanding conflict management and finding positive solutions, leaders can recognise patterns that may lead to a conflict. Managers can implement previous solutions to prevent such conflicts from reoccurring. 

This guarantees that the project can progress on schedule, heightens the team’s morale and improves respect for the management. 

Conflict Resolution Strategies 

Effective conflict management comes with adequately understanding and implementing conflict management strategies. Learn about conflict resolution strategies from a well-designed general management programme. Listed here are the top five conflict resolution techniques. 

1. Don’t neglect conflict

Ignoring conflict is never the way to resolve it. On the contrary, often, this will worsen the situation. 

With neglected conflict, things fester with time and tend to reappear in the future. Hence, for the betterment of the team, as a team leader, address conflicts as and when they occur. It is best to handle a potential conflict as soon as you recognise it. 

2. Clarify the issue

When dealing with a conflict involving two team members, it is essential that leaders first get all the facts. Sit down with both parties involved and uncover the actual issue. 

It is essential to gain the trust of involved parties, so they accept you as the impartial mediator and feel comfortable sharing sensitive information. 

3. Make the involved parties talk 

Once you have personally spoken to all the involved parties, make them sit together for a meeting to hash out the differences in a neutral setting. 

In this meeting, the goal is to brainstorm, actively listen and be open to different perspectives. The parties should agree on a common ground of the issue, what role each person has played in the conflict and what possible solutions might be. 

4. Come up with a solution 

Once all the involved parties have had the chance to discuss any conflict, it’s time to discover satisfactory resolutions and how you can achieve them. It is expected that the parties will understand each other’s perspectives and that the conflict will be resolved. 

However, if the situation needs further resolution, the leader must step in and negotiate a reasonable solution. This stage might take some time as both parties must find common ground by setting aside their preferences and differences.

5. Keep monitoring and follow up on the conflict 

As a team leader, it is your job to check in with all the involved parties to make sure that the issue has been dealt with adequately and steps suggested to reach the solutions are being followed. 

If everything is going smoothly, at times, stop and observe to see if things function smoothly in the long run. 

Conclusion 

To become a successful leader, it is essential to understand and implement conflict management strategies to run a successful team and maintain harmony in the workplace. Consider enrolling in a general management course online to bolster your career further as a manager.

Become a well-established leader or manager with Imarticus’s 22nd General Management programme in Dubai. This course will improve your managerial capabilities and prepare you for future management responsibilities. 

How is a general management program beneficial for managers?

Posted on by Imarticus Learning

Did you know that effective management is crucial to an organization’s success? General management programs equip managers with the skills and knowledge needed to excel in their roles. This blog will explore the benefits of general management programs and their relevance in today’s dynamic business landscape.

Understanding: What is a General Management Program?

A general management program is a comprehensive educational program designed to equip individuals with the skills and knowledge necessary for effective management across various organisational and functional areas. It provides a holistic understanding of business operations, strategic thinking, leadership development, and decision-making skills.

A general management program covers various subjects, including finance, marketing, operations, human resources, and strategy. It aims to develop well-rounded managers who navigate complex business environments, drive growth, and make informed decisions.

These programs are often offered at the graduate level, such as MBA (Master of Business Administration) programs or specialized executive education programs for experienced professionals seeking to enhance their management skills.

Career Paths after Completing General Management Program:

Completing a general management program opens up a wide range of career paths and offers significant growth opportunities for individuals. Here are some career paths after completing a general management program:

Managerial Positions: Graduates can pursue managerial roles across functional areas such as marketing, finance, operations, human resources, and strategy. These roles involve overseeing teams, making strategic decisions, and driving organizational success. Graduates may start as assistant managers and progress to middle and senior management positions.

Entrepreneurship: The knowledge and skills gained from a general management program provide a solid foundation for individuals aspiring to start their businesses. Graduates can leverage their understanding of business operations, strategy, finance, and marketing to launch and manage their entrepreneurial ventures.

Consulting: Many general management program graduates enter the field of management consulting. They work with clients from various industries, providing strategic advice, solving complex problems, and helping organizations improve performance. Consulting firms value the broad skill set and strategic thinking abilities acquired through a general management program.

Executive Leadership: Graduates with significant work experience and a general management background are well-positioned to climb the corporate ladder and reach executive-level positions. They can aspire to become CEOs, CFOs, or hold other top-level leadership positions, where they will be responsible for guiding an organization’s overall direction and strategy.

Industry Specialization: Some graduates specialize in specific industries or sectors based on their interests and expertise. They can leverage their general management foundation to pursue careers in healthcare, technology, finance, retail, or manufacturing, bringing their managerial skills and knowledge to drive growth and innovation within the industry.

How managers can benefit from a general management program

  • Enhanced Leadership Skills

Best management training programs focus on developing practical leadership abilities. Managers can motivate their teams, drive performance, and achieve organizational goals by honing leadership skills.

  • Broadened Business Acumen

Best management training programs provide managers with a holistic view of business operations. Understanding different functional areas and their interdependencies allows managers to make informed decisions and contribute to the organization’s overall success.

  • Strategic Thinking and Decision-making

Best management training programs cultivate strategic thinking skills, enabling managers to analyze complex business environments, identify opportunities, and make sound decisions. Strategic thinking is essential for driving growth and navigating challenges.

  • Improved Communication and Collaboration

Interpersonal skills and effective communication are emphasized in general management programs. Strong communication skills enable managers to build relationships, foster collaboration, and influence stakeholders positively.

  • Adaptability and Change Management

General management programs equip managers to navigate change in the dynamic business landscape. Adaptable managers can embrace innovation, lead change initiatives, and ensure organizational agility.

  • Practical Application of General Management Skills

Managers can apply the skills acquired through general management programs in various practical ways. For example, they can use their enhanced leadership skills to inspire and motivate their teams, fostering a positive work environment. Their broadened business acumen enables them to identify growth opportunities, optimize operations, and drive profitability. Effective communication and collaboration skills allow managers to build strong stakeholder relationships and lead cross-functional teams.

Final Words about Best management training program: 

As Peter Drucker once said, “Management is doing things right; leadership is doing the right things.” 

Investing your management skills in the right place for success is important. Imarticus Learning offers an experience unparalleled through the 22nd General Management Programme (GMP) in Dubai, partnering with the prestigious Indian Institute of Management Ahmedabad (IIMA). The General Management Program enhances participants’ managerial capabilities, equipping them to assume senior general management roles in the future.

The General Management Program stands in a league of its own, driven by the first principles of management.

  • Participants delve into timeless cases and learn from experienced faculty, who bring unparalleled depth to the learning process.
  • The program’s unique format spans a consecutive weekend marathon over six months.
  • The program allows consistency, reduced study load, and focused exploration of a small number of topics each week.
  • The weekend session structure ensures minimal disruption to business hours, making it ideal for executives seeking to enhance their managerial skills.
  • The GMP boasts a short duration, with online sessions limited to a maximum of three hours per day to prevent Zoom fatigue. 
  • The capstone case study project and presentations during this campus immersion phase provide an opportunity for participants to showcase their newfound knowledge and skills.

The General Management Program’s learning outcomes are aligned with the participants’ professional growth.

  • It aims to enhance managerial skills, preparing participants for higher responsibilities.
  • The program equips participants with management concepts and techniques relevant to formulating and implementing strategies in functional and general management areas.
  • By appreciating the interdependencies within organizations and acquiring the necessary perspectives, participants develop the readiness for general management positions.

Embark on this unique journey to professional excellence and earn an alumni status with the 22nd General Management Programme at Imarticus Learning. Seize this opportunity and enhance your managerial capabilities to unlock new career horizons. Register your interest now and write your own success story!

Business Process Optimisation: How to Improve Operations and Management?

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A business process is a series of connected tasks within an organisation that aims to achieve a specific goal or produce a desired output. It involves performing steps in a particular order to transform inputs into valuable outputs. Business processes are crucial for an organisation’s functioning and growth, ranging from simple tasks to complex workflows that involve multiple departments.

global senior leadership programmeIf you want to become an influential leader and know how to improve the process of a business then you have stumbled across the right read. Keep on reading to learn more about how to optimise business processes, operations and management.

What a Business Process Entails

A business process in the most simple of definitions is a set of sequential tasks which when performed creates value. Below are the components of a business process:

Inputs

Inputs are basically the resources that necessitate the initiation and execution of the process. Inputs can vary depending on the nature of the process. Let’s say that you own a construction company. Your inputs may include raw materials, tools, and other technology that is used in the construction process.

Activities

These are the individual tasks or steps that need to be performed within the process. Activities contribute to achieving the overall objective of the process. It may involve multiple participants or roles within the business. 

For example, in the customer service process, activities can involve answering customer inquiries, resolving complaints, and providing product support.

Flow

The activities are organised and connected in a logical sequence or flow. This ensures that the process moves smoothly from one step to another, with dependencies and relationships between activities being properly managed. 

Let’s take an example of a dropshipping business. The flow can include receiving an order, processing it, picking the items from inventory, packing them, and shipping them to the customer.

Controls

Controls are the mechanisms that are put in place. These mechanisms ensure that the process is executed accurately and efficiently. They include rules, guidelines, policies, quality checks, and approval mechanisms that govern how the process is carried out.

So in a financial business, controls can involve verifying and approving expense reports, purchase orders, or budget requests according to predefined rules and policies.

Outputs

The outputs of a business process are the results or outcomes that are generated by completing the activities. These outputs can be tangible or intangible, and they should align with the goals and objectives of the process and the organisation.

If you own a marketing business, then the outputs can include increased brand awareness, lead generation, and customer conversions resulting from the campaign.

How to Improve Business Operations

Improving business operations is an ongoing effort. It involves identifying areas for improvement and implementing strategies to optimise efficiency, productivity, and overall performance. Here are a few ways through which you can improve business operations:

Identify the areas where you can improve

To identify areas for improvement, assess your current operations. Look for inefficiencies, bottlenecks, or challenges. Analyse processes, gather feedback from employees and customers, and conduct performance evaluations.

Set your goals

Define specific and measurable objectives for operational improvements. Align these objectives with your business goals. Address the identified areas for improvement.

Some common examples of objectives can be increasing your production efficiency. You can target this by reducing the average processing time by 20% within the next quarter. Or, improving customer satisfaction ratings by achieving a minimum of 90% positive feedback within six months.

Invest in technology

Technology plays a big part in improving a business’s operations. Evaluate and invest in suitable solutions that streamline operations, enhance collaboration, and improve data management. This may involve implementing project management software, CRM systems, or ERP systems.

Measure the performance

Implement metrics and KPIs to measure operational improvements. Regularly monitor and analyse data. Identify trends, track progress, and make data-driven decisions. Enhance operations based on findings, and try to better the areas your business lacks.

Use your customer’s feedback

Gather feedback from customers to understand their expectations, pain points, and areas for improvement. Use this feedback to tailor your operations to better meet customer needs and enhance their experience. Customer satisfaction is the backbone of any business.

How to Improve Business Management

Improving business management involves enhancing leadership, and overall organisational effectiveness. Here are a few pointers to do so:

Improve communication

Foster open communication between managers and employees, as well as among teams and departments. Encourage active listening and clear instructions. Promote regular feedback and information sharing. Closing the communication bridge is beneficial for the growth of every business.

Offer professional development

Offer training programs, workshops, and learning opportunities. Encourage skill enhancement and knowledge growth. Foster employee ownership of professional development. This will let your employees upskill themselves, and be a better asset to your company.

Create an environment for innovation and creativity

Encourage managers and employees to think creatively, and experiment with new ideas. Let them propose new solutions to challenges. Embrace calculated risks and view failure as a learning opportunity for your company’s employees.

Conclusion

Mastering business process optimisation is key to making your business thrive in the long run. Even if you have the best product in the market and the most skilled employees in their domain, it is highly unlikely that your business will increase the revenue it generates without a proper business process.

If you do want to become an influential leader and push yourself to the next level, then Imarticus Learning has you covered with leadership courses from IIM. Imarticus has collaborated with the best, and brings to you the Global Senior Leadership Programme. This IIM Lucknow Leadership Programme is designed to unleash your potential as a leader. So what are you waiting for? Enrol now.

What can I do with a supply chain management degree?

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In the dynamically transforming world of commerce, a career in supply chain management offers an exciting blend of strategic problem-solving, analytical skills, and management prowess. Graduates from a supply chain management course find themselves at the crossroads of an intricate global network, managing a wide array of activities from procurement to logistics, thereby making tangible impacts on the businesses they work with.

best supply chain management and analytics training

With the burgeoning complexity of international commerce, supply chain management has emerged as a crucial field, accelerating demand for skilled professionals. With a degree in supply chain management, one can navigate through this industry, sculpting an intriguing and rewarding career in logistics and supply chain management.

The Evolution of Supply Chain Management: A Historical Perspective

Understanding the evolution of supply chain management helps appreciate the complexity and importance of the field today. 

The early 20th century saw the core focus on production. With that, companies aimed at enhancing manufacturing efficiency. This era was characterised by mass-production models, as exemplified by Henry Ford’s assembly line. During this period, supply chain activities were largely fragmented, and logistics was viewed as a necessary but non-strategic expense.

Post World War II, there was a shift towards a market orientation, where understanding customer needs and providing value became the focal point. Businesses started recognising the significance of managing distribution and logistics to meet customer demands effectively. Still, the overall supply chain perspective remained functionally siloed, with each department focusing on optimising its operations without much regard for the broader system.

The late 20th century heralded a new era with the advent of Information Technology. Companies began to see their supply chains as an integrated process, where coordination across different functions was key to achieving overall efficiency. Alongside this, various waste reduction and continuous improvement strategies like JIT (Just in Time) and TQM (Total Quality Management) also took birth.

With the dawn of the 21st century, the supply chain management field witnessed exponential growth in its complexity and strategic importance. Globalisation led to lengthier and more intricate supply chains, demanding better coordination and visibility across all levels. While we were adjusting to the new normal, e-commerce giants like Amazon emerged, completely revolutionising consumer expectations from businesses. The newfound appetite for speedy, affordable, and efficient delivery has skyrocketed, exerting considerable pressure on companies to meet these amplified demands.

The freshest shift in supply chain management is deeply connected to the arrival of advanced digital technologies like AI, machine learning, big data, and blockchain. This surge of technological advancements has sparked the beginning of an exciting new journey in the realm of supply chain management, unfolding an array of promising prospects for the times ahead.

Charting Your Career Path

A supply chain management degree unlocks a multitude of potential career paths, each with unique roles and responsibilities. You might find yourself stepping into the shoes of a Supply Chain Analyst. 

In this role, you’d immerse yourself in the meticulous review and enhancement of supply chain processes, skillfully using quantitative data as your compass to guide insights and shape strategic decisions. Alternatively, you could take on the mantle of a Logistics Manager or Operations Manager. These roles place you at the heart of daily supply chain operations, where your responsibility lies in maintaining the smooth running of operations and ensuring efficient and timely deliveries, all while keeping a vigilant eye on cost management.

If strategic roles interest you, you might gravitate towards becoming a Supply Chain Consultant or a Supply Chain Manager. These roles involve a strategic overview of supply chain processes, optimising performance, reducing costs, and ultimately driving value for businesses. 

As your experience grows, you could even work your way up to become a Director or Vice President of Supply Chain Management, playing a pivotal role in shaping a company’s direction and success.

Leveraging the Right Course

Taking the right supply chain management course is crucial in developing the necessary skills and knowledge to excel in this industry. A well-structured course provides both the theoretical and practical grounding required to navigate the dynamic landscape of supply chain management.

One course that stands out is the Professional Certification in Supply Chain Management and Analytics by IIT Roorkee, offered in collaboration with Imarticus Learning. This globally recognised certification offers a comprehensive curriculum, expert-led teaching, and real-world industry projects, providing a holistic and impactful learning experience.

Building a Future in Logistics and Supply Chain Management

A career in logistics and supply chain management promises diversity and exciting challenges. With roles spanning across industries like retail, manufacturing, healthcare, and technology, a degree in supply chain management could lead you anywhere in the world.

As businesses increasingly prioritise sustainable practices, there is a rising demand for supply chain professionals capable of creating and implementing green logistics strategies. This presents opportunities to influence companies’ environmental footprints while driving cost savings and efficiency.

Conversely, with the surging emphasis on digital transformation, an array of roles dedicated to the management and application of advanced technologies in supply chain management is becoming increasingly prevalent. These technologies, encompassing AI, machine learning, and blockchain, create a rich confluence of technology and supply chain management, paving the way for innovation and revolutionary change.

In conclusion, possessing a degree in supply chain management is akin to holding a versatile key capable of unlocking a myriad of career opportunities. Opting for a globally recognised course like the one offered by IIT Roorkee ensures you are well-armed with the necessary skills and insights to flourish in this ever-changing field. 

Setting off on a career journey in supply chain management offers not only a diverse range of challenges to conquer but also a chance to make a significant contribution to the global economy.

Exploring Diverse Principles of Management

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In today’s globalised and interconnected world, the concept of diversity and inclusion has become much more critical than ever for business enterprises. According to a recent survey, as much as 57% of recruiters feel that their talent acquisition strategies are designed specifically for attracting diverse candidates. 

However, that being said, creating a diverse and inclusive workforce is not just about checking boxes but includes fostering an environment wherein everyone feels valued and respected.

What is Workplace Diversity and Inclusion?

Workplace diversity and inclusion refers to the practice of creating a work environment that embraces and values individuals from various backgrounds, experiences, as well as perspectives. However, when you take a closer look at this concept, you will realise that diversity and inclusion are actually quite different from each other and do not mean the same thing. 

Simply put, diversity refers to the presence of individuals with varied backgrounds, perspectives, and characteristics, within an organisation. It encompasses a wide range of factors, including, but not limited to, race, ethnicity, sex, age, nationality, and socio-economic status.

On the other hand, inclusion signifies creating a work environment where all individuals, irrespective of their differences, feel welcomed and valued. It primarily focuses on promoting a sense of belonging for every employee in an organisation and ensures that every voice is given due importance and consideration. 

If an organisation is aiming to truly offer an inclusive work environment, they need to implement policies and practices that promote fair and unbiased hiring, opportunities for the professional development of all employees, and diversity recruitment.

Diversity and Inclusion Best Practices

Listed below are some of the best and essential practices that every organisation must implement in order to promote a diverse and inclusive workplace.

Establish A Sense Of Belonging

Fostering a sense of belonging is essential for a workspace to be inclusive and cohesive for all its employees.  Unconscious bias and cultural competency should be the main topics of discussion throughout these sessions, which should also promote candid conversations to clear up any misunderstandings or concerns. 

Equal and Fair Treatment of All Employees

Fairness is yet another crucial prerequisite for employees to feel valued and respected. More often than not, unfair salaries or undue advantages to employees of different backgrounds can create an unhealthy workplace culture. 

 Conduct Regular Diversity Audits

Conducting audits on a regular basis helps keep track of progress, identify potential areas for improvement, and hold the organisation accountable for diversity and inclusion goals. In addition to this, it also helps to understand the effectiveness of diversity initiatives.

Promote Diversity In Hiring

This includes expanding the talent pool through targeted outreach, implementing bling resume screening processes to prevent the occurrence of unconscious bias, and partnering with diverse organisations. In addition to this, interviewers must also be trained in inclusive interviewing techniques that focus on skills and qualifications rather than cultural fit. 

Conclusion

If you wish to explore more about such practices or simply enhance your people management skills, you can check out multiple strategic HR management courses that are available online.

Such IIMA management courses are specifically designed for business managers and emerging senior HR professionals who wish to advance their careers in this field. Additionally, with the IIM A management course, you also get to explore multiple benefits, such as access to masterclass sessions and professional certifications, among others.

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