S.M.A.R.T Management of Resources

A business is all about management of infrastructure and resources. While a successful business is about better managing the available infrastructure and resources than other businesses. It is about getting ahead of your competitors and achieving better goals. Given the same set of inputs, one team is able to achieve more than the other within a business organization.

Being a Chemical business owner, I can recall the example of an “initiator”. In a chemical reaction, “initiator” is as the name suggests plays the role of “lighting the spark” of any chemical reaction.. It reacts with a monomer (single molecule that can form chemical bonds) to form an intermediate compound. The intermediate compound is capable of linking successively with a large number of other monomers into a polymeric compound.

The most widely used initiators produce free radicals (reactive atoms or groups of atoms that contain odd numbers of electrons). The examples include peroxides and aliphatic azo compounds used to polymerize vinyl chloride, methyl methacrylate, and other monomers. For detail-oriented readers, more details can be found here:
https://en.wikipedia.org/wiki/Radical_initiator

The radical initiator is the role of a leader. In a business, the leader has to effectively play this role for the team to be successful. Unlike chemical reactions in large organizations, we need to have small groups. These small groups are termed as teams. These teams need to function as an independent reaction. At the same time, the teams need to synchronize with the reactions going on in other teams.

Business is all about managing a simultaneous set of reactions and improving the output. Out of all the resources the human resource is a vibrant living and responsive resource. Handling the same requires more talent and smartness. Smart handling of people and finding the initiators to lead teams is the litmus test of management.

Smart managers stand out by trying to stay true to the word: “SMART”. Given below are some simple steps that managers need to learn, in order to become a “SMART Manager”:

1. Specific:

A smart manager is always specific. He communicates the objectives clearly and precisely. He quantifies what he expects from each member in the team and the team as a whole. Managers who are precise and to the point, are less likely to face confusion and miscommunication in their teams. In a smart manager’s team, specific quantifiable goals and objectives are first discussed and then documented. This being the reason smart managers and their teams are able to reach the goals before their competitors.

2. Measurable:

Quantitative analysis of the goals helps to refine and improve the business operations. Smart managers always measure the business goals before defining it to their team members. Once the goals are quantified, it becomes easy to identify the outcomes of the actionable items. Smart managers also use various methods to measure and track the progress of goals. By tracking the progress of goals, the managers are able to determine that they are on the right track.

3. Action Items:

Action items help to turn envisaged business goals into actionable business plans. Smart managers always have their focus on action items, priorities and timeline. They have backup plans and reschedules to account for any unforeseen plan. Smart managers use “action item tracking software” to track the progress of all the listed action items. The software helps to follow a structured plan format for the action items.

Smart managers always clearly define the list of action items to their subordinates. They provide their subordinates with time allotted against each action item. Smart managers never allow delays in an item to be carried over.

4. Relevant:

Relevancy in business is the key to transformation. This is an important area for smart managers to improve the organizational matrix. Today’s business world is all about change. Consumers now have a wide range of choices available today than before. From the goals of the organization to the individuals goals, relevance alters the approach and the priority. Every action has to be weighed in relevance against actions of others, as well as against the actions of the same employee.

Smart managers are able to align their subordinates around customer priorities and market needs. A Smart manager has to maintain the Relative Relevance of:

  • Team members to Team,
  • Team to Other Teams,
  • Organizations to the teams, and
  • Market Size vs Operations of the business.

The above given factors keep changing rapidly. And a smart manager is one who is able to maintain the overall relevancy of operations.

5. Team Focused:

Team Focus is the last and most important trait that a smart manager has. A manager cannot be termed as smart without being team focused. A smart manager is a leader and an expert observer. He knows each of his individual team members and their potential. It lets the smart managers set right expectations accordingly from individual team members. On the other hand, it lets the team members get a direction to perform.

To Sum Up:

S.M.A.R.T management is the way to move forward in today’s fast paced world where attrition is frequent. There are many software tools and applications these days to make it possible and easy. Usage of relevant software tools is what makes it easy for the smart managers to handle different tasks.

If you are looking for a customized application to be developed for your organization, to help you become a smart manager, Do fish around and you will find many vendors.