Chapter 20 in our reading this week shares stories about a ship navigator then compares it to a managerial accountant providing accounting data to steer an organization.  The story is quite sad as the ship crashes and so does the company.  Complete the reading for the week, taking note of the important role or accountants and accounting data in organizations.  Over coffee one morning Emma asks you what role you think the accounting department at CM Tech can have in performance management and what risks there are in relying on accounting data to guide CM Tech decisions.  

• In your initial discussion post share with your classmates what you think the accounting department can do to support and guide performance management at CM Tech and what risks are inherent in relying on accounting data.  In your responses to your peers expand on your agreement or disagreement their assessment of accounting’s role and the risks it poses.
• Support your initial post with at least one scholarly reference. 

Provide two examples of actions management can take that will result in poor performance from their team.  Which of the historical breakthroughs in management theory may address the problems you’ve described? 

What do you anticipate will be the next ‘big thing’ in management theory?  What needs or new developments in business do you propose will lead to the ‘big thing’ you’ve described?

What actions and responsibilities does the human resources department have to contribute to the organization’s performance management efforts?

You’ve learned about incentive programs and the balanced scorecard.  How might you tie incentive programs to the balanced scorecard to enhance organizational performance?

If you were in charge of the accounting department in your organization what actions would you take to ensure the accounting function was used appropriately to maximize their contributions to the organizational performance management effort? 500 words each question

Provide two examples of actions management can take that will result in poor performance from their team.  Which of the historical breakthroughs in management theory may address the problems you’ve described? 

What do you anticipate will be the next ‘big thing’ in management theory?  What needs or new developments in business do you propose will lead to the ‘big thing’ you’ve described?

What actions and responsibilities does the human resources department have to contribute to the organization’s performance management efforts?

You’ve learned about incentive programs and the balanced scorecard.  How might you tie incentive programs to the balanced scorecard to enhance organizational performance?

If you were in charge of the accounting department in your organization what actions would you take to ensure the accounting function was used appropriately to maximize their contributions to the organizational performance management effort? 500 words each question

 

Performance Management

Jack Welch states: “The best performance reviews are frequent, simple, and actionable.” One tool he created for giving feedback on performance is the 3 by 3 card, as shown here. 

Imagine your manager is giving you some quick feedback on a current project. Fill out the 3 by 3 card that he or she might give to you, with three things that are going well and three areas for improvement. Post your 3 by 3 card as an image or simply by posting the two lists in the forum. 

Post your initial response by Wednesday, midnight of your timezone, and reply with ideas of actions they can take to positively impact their performance to at least 2 of your classmates’ initial posts by Sunday, midnight of your timezone.​

1 response

 RE: Week 5 DiscussionCOLLAPSE

Performance Management 

3 by 3 Card

What’s Going Well

Areas of Improvement 

There is open and clear communication 

Resources are not sufficient 

Cooperative relationships 

Diversity is not valued 

Goals are clearly defined 

Conflicts are not well-managed

 Based on the 3 by 3 card for conducting performance review as put forth by Jack Welch, three areas are going well, and three need improvement. There is open and clear communication. Open communication involves listening and giving constructive feedback (Thaning, 2020). There is a cooperative relationship in the project. Project team members are aware of the importance of working together by sharing knowledge, skills, and expertise. A sense of belonging is created, as members are relaxed, comfortable, and focused on the goals. The goals of the project are clearly defined (Thaning, 2020). Everyone in the team is aware of his or her purpose and the overall mission of the project.

 The resources available for the project are insufficient. As a result of this, it can be difficult to determine when the project will be completed on time (Haberfellner et al., 2019). All the necessary resources required at every stage of the project should be provided on time. Diversity is not valued. It is about valuing all the team members’ contributionsto a project (Haberfellner et al., 2019). The majority of the team members in the project are men. Apart from this, the project’s top leadership does not consider some employees’ creativity and ideas. Conflicts are not well-managed. While conflicts might be beneficial in some cases, they can hinder a project (Haberfellner et al., 2019). Conflicts can hinder the decision-making process of team leaders of a project.   

Haberfellner R., de Weck O., Fricke E., Vössner S. (2019). Characteristics of successful project 

management. In Systems engineering. Birkhäuser, Cham

Thaning, J. (2020). Top 10 key attributes of a successful project. Deltek. Retrieved from 

 http://www.projectdirect.se/dokument/Top10-Key-lyckat_projekt.pdf

2nd response

  RE: Week 5 DiscussionCOLLAPSE

Hello Professor and Classmates,

Imagine your manager is giving you some quick feedback on a current project. Fill out the 3 by 3 card that he or she might give to you, with three things that are going well and three areas for improvement. Post your 3 by 3 card as an image or simply by posting the two lists in the forum. 

At my job I have been put in charge of documenting the reconciliation process in our office. I have a team that I work with to help me break down the steps and put it in a reader friendly document. I believe it is going very well. I am nervous to have to be a lead in the team. If my manager was to do a card on me, I believe it would look like this:

3 What’s going well:

1. Helping others to move the project along. I am great at encouraging others and giving them training to get to the next level of the project. Jack Welch says a team lead should be always looking for their subordinates to train to be better but, they choose to be at that particular company (1).
2. Great at communicating to the others in the group of what is needed to get to the end goal. Communication is one of the most significant way of building all aspects of the team, including trust (2).
3. Finding new ways to present materials. I have always had a thing about making sure whatever I do and have to present it sticks to whom ever is reading or listening to it. The wow factor is what grabs your audience attention and keeps it. I believe if you are able to do that in every project meeting, it makes people more interested in working with you (3).

3 Areas for improvement:

1. Celebrating the small wins. I have read that Jack Welch says you should always celebrate the little wins as much as the big wins (1). I always feel that work needs to be done and if you celebrate then you will start slacking off. I need to work on this.
2. Communicating to upper management what is needed and the progress going on. I am great with working with the team but, horrible with reporting out the status of a current project I am working on. I feel like if you are completing a project and you report out that it is not complete then, it is a bad thing. So, I do have a fear of reporting out.  
3. Telling people when their idea is bad for the project and the goal. I have added things in the project because I did not want to say no.  

Tiara Collins

1. Jack Welch. (2005). Winning.
2. http://www.officecurry.com/role-of-effective-communication-in-team-building/#:~:text=Effective%20communication%20plays%20an%20important,team%20members%20complete%20their%20tasks.
3. http://www.infinitebusinesssolutions.com/2014/07/six-tips-to-add-the-wow-factor-to-your-presentations/