Most important analysis a manager has to do is that of oppurtunity cost. How much is the value of x$ if you invest it today compared to keeping it in Bank and not doing anything with it.. If you spend 1000$ and have chance to get a business of 100000$ it is more important to spend it rather than preserve it and loose its current value also…
Everyone running a business should be doing so to earn money. Only thing is never forget your ethics. Finally money is not everything you also need a good night of sleep.:)
Job of marketing is to sell dreams to the customers but never ever try to implement all the dreams as finally dreams are dreams….:)
Time is priceless. Always treasure it. Worst thing you can do is be late for a meeting…
Clear Reporting/Organizational structure is key to success of a business. Lack of clarity creates total chaos in the organization and reduces accountibility. U never want company CEO questioning a developer about what he/she is doing…:)
The worst thing a manager can ever do is not make decisions. You have to take decision, right or wrong… Managers are hiried to make decision and convey them to there subordinates…
There is a reason why project managers are so important in any project especially consulting projects. You never want your development team to face the customers. You need a shield for them. I have been in a situation where my PM resigned and I had to interact directly with the customer and I had to face all the heat. It is too stressful. Development team is always under pressure to deliver stuff on time and the kind of stress you have from customer is totally different by differentiate the role and people you actually divide the stress by two and you could buy time in situations where things really gets heated up. If you don’t have PM, be prepared for some really stressed out developers….:)J
For an organization to grow it is a must to use Professional Definitions as defined by the Body of knowledge either in Project Management or Quality or SDLC.
BS
Good Manager works for his employees. He protects them from any external influence and stands by them under any circumstances. If he does that his employees will automatically do anything he wants them too.
Never ever give your employees something and then take it away. It could be as simple as snacks in office break room to as big as a bonus at the year end. Never ever give something and take away. It causes a lot of disturbance in the organization. Again this is related to trust. People will loose trust in u.
I am a Sr. Product Manager at Microsoft for BizTalk RFID and MBA from UNC Chapel Hill.
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