Business Skills Leadership Skills Interpersonal Skills Intrapersonal Skills Learning Focus for next Few Weeks

Business Skills Decision Making Problem solving Negotiation Planning Evaluating Performance Business strategy Motivating talent Performance feedback Goal setting Developing & communicating vision Goal setting Persuasion Persistence Leadership Skills

Problem solving –Identify what is the problem in the conservation crisis case Submit 1 copy Completed role summary sheet after class Planning –How to go about achieving your own goals and the group goals in the case Goal setting Set individual & group Goals for to solve case Business & Leadership Skills

Developing & communicating vision– Taking a leadership role in developing & communicating your own goals and to shape the group goal Persuasion- others in your group with facts and arguments Submit role preparation sheet (in persuasion class) Business & Leadership Skills

Decision Making & Negotiation Decide how to resolve the case as a group Negotiate your interests are as per your role in the case Best win-win agreement WINS participation credit coupons! Persistence – Trying to stay focussed and achieve your goal via research and negotiation Business & Leadership Skills

Overview of Today’s Class Goal Setting Building a Vision

Goal Setting “Process” Vision for Yourself Areas of your Life Eg. Family, Work, Social Individual Objectives/Goals

Why do goals improve performance Goals Focus attention on behaviors that will attain goal Increase how hard one works on task Lengthen time spent on task Promote use/discovery of knowledge needed to do task Improved Task Performance e.g., graduate school, glucose intolerance

What makes goals more effective in improving Performance? Improved Performance Specificity & Difficulty of Goal Goals

Student Activity Identify appropriate goals for your life Justify how these goals will… Focus attention on behaviors that will attain goal Promote use/discovery of knowledge needed to do tasks that will attain goal Increase how hard one works to attain goal Lengthen time spent on tasks needed to attain goal

Goal Setting “Process” Vision for Yourself Individual Objectives/Goals

Building Vision Understanding Vision 1.What is Vision?  Components of Vision  Example of Vision 2. Developing a Vision  Class Exercise- Creating Vision  Take Home vision Creation (Conservation Crisis Team)

Building Vision Vision Core IdeologyEnvisioned Future Core Purpose Core Values Vision Level BHAG Vivid Description What is Vision?

Building Vision Core Ideology Core Purpose Core Values Core Ideology defines the enduring character of an organization- a consistent identity. Core Ideology is:  Unchanging  A source of guidance and inspiration  The glue that holds the org. together Consists of two main parts- Core Values & Core Purpose

Building Vision Example of Core Values  Elevation of the Japanese culture and national status  Being a pioneer- not following others; doing the impossible  Encouraging individual ability and creativity Core Values of Sony (1950’s)

Building Vision What are Core Values? Core Values are the essential and enduring tenets of an organization. Core Values:  Have intrinsic value to those inside the org.  Stand the test of time Organizations tend to have 3 to 5 core values.

Building Vision Example of Core Purpose To experience the sheer joy of innovation and the application of technology for the benefit and pleasure of the general public. Core Purpose of Sony (1950’s)

Building Vision What is Core Purpose? Core Purpose is the organization’s reason for being; it reflects the people’s idealistic motivations for doing the company’s work. Core Purpose:  Can never be fully realized  Answers the question- We make product or service X- Why is this important?

Building Vision Envisioned Future Vision Level BHAG Vivid Description Envisioned Future is a concrete comprehensive visualization of an yet unrealized aspiration of a company. It encompasses two parts:- Vision level BHAG and a Vivid Description of that BHAG.

Building Vision What is Vision Level BHAG? Vision level B ig H airy A udacious G oal is:  Clear, compelling, unifying focal point of effort, that acts as a catalyst for team spirit.  Applies to entire organization  Requires 10 to 30 years to complete.  50% to 70% probability of success

Building Vision Example of Vision Level BHAG Become the company most known for changing the worldwide poor-quality image of Japanese products. Vision Level BHAG of Sony (1950’s)

Building Vision Become a $125 billion company by the year 2000 [Wal-Mart, 1990) Became the company most known for changing the worldwide poor-quality image of Japanese products (Sony, early 1950s) Knock off RJR as the number one tobacco company in the world (Philip Morris, 1950s) Become the Nike of the cycling industry [Giro Sport Design, 1986) Become as respected in 20 years as Hewlett-Packard is today (Watkins-Johnson, 1996) Become the Harvard of the West (Stanford University, 1940s) Become number one or number two in every market we serve (General Electric Company, 1980s) Some company BHAG goals...

Building Vision Example of Vivid Description We will create products that become pervasive around the world… We will be the first Japanese company to go into the US market and distribute directly. We will succeed with innovations that US companies have failed at…Made in Japan will mean something fine, not something shoddy. Vivid Description

Building Vision What is a Vivid Description? Vivid Description is a vibrant, engaging and specific description of what it will be like to achieve the BHAG. Vivid Description:  Passion, emotion and conviction are essential  Translates the BHAG into an image in minds of employees.

Building Vision Putting it all Together

Building Vision Core Ideology Envisioned Future Core Purpose Core Values Vision Level BHAG Vivid Description Vision of Sony in the 1950’s Adapted from Collins and Porras (1996)  Elevation of the Japanese culture and national status  Being a pioneer- not following others; doing the impossible  Encouraging individual ability and creativity Become the company most known for changing the worldwide poor-quality image of Japanese products. To experience the sheer joy of innovation and the application of technology for the benefit and pleasure of the general public. We will create products that become pervasive around the world… We will be the first Japanese company to go into the US market and distribute directly. We will succeed with innovations that US companies have failed at…Made in Japan will mean something fine, not something shoddy.

Building Vision Develop a Personal Vision Statement using handout

Building Vision Do Not Confuse Core Ideology vs. Envisioned Future Envisioned Future features.. Core Ideology features.. Discovery Process Never changes What company stands for Creative Process Changes once BHAG is attained What company aspire to become.

Building Vision Do Not Confuse Core Purpose vs. Vision level BHAG Vision Level BHAG features.. Core Purpose features.. Can never be completed Not a specific goal Forever pursued Achievable in 10 to 30 years Clearly articulated goal Once reached, move on to next goal.

Building Vision Do Not Confuse BHAG vs. Goal Operational Level Task Specific Short time horizon Used to achieve BHAG Strategic Level Company/Departmental Scope Long time horizon 10 to 30years What company aspire to become. Vision Level BHAG features.. Goal (traditional sense) features.. Eg. Become the company most known for changing the worldwide poor-quality image of Japanese products. Eg. Reach a sales target of$ in the Latin American market in one year..

Building Vision Developing a Vision Class Exercise Use Concepts discussed in this Vision Lecture and in the Collins and Porras article to develop a: Vision for Management BBA program University of Toronto Scarborough Tip- Use Sony’s Vision as a Template.

Building Vision Hints As in our conservation crisis case there are different stakeholders with their Individual Goals StakeholderGoal Teaching and Co-op FacultyTo be known and connected: Internationally & locally Research DepartmentTo be a research community of choice for internationally recognized world class knowledge creation StudentsThe best place to start your enterprising business career regardless of what your future path may be

Building Vision Develop a Vision of UTSC Management using handout

Using the completed role summary sheet Identify appropriate goals that each role may have in the case Justify how these goals will… Focus attention on behaviors that will attain goal Promote use/discovery of knowledge needed to do task Increase how hard one works on task Lengthen time spent on task

Goals for each role in the conservation crisis case RoleIndividual Goal(s) Conservationist Member of the Department of Environmental Conservation Factory worker Unemployed male Restaurant owner Parsons Chemical Company Executive

RoleShares Common goals with Shares Conflicting goals with Conservationist Member of the Department of Environmental Conservation Factory worker Unemployed male Restaurant owner Parsons Chemical Company Executive Identify Common & conflicting goals b/w roles

Form 6 person groups –If not enough you can drop member of govt role Give your Group a name –E.g., Team Surfside Choose roles Read & Sign contract –One Copy to professor, each person keeps a copy Schedule time to meet for setting Surfside vision What’s next in class?

Building Vision Conservation Crisis Case Vision Exercise Complete Vision Template sheet – You should use points in the ROLES SUMMARY sheet + group and class discussions. – E.g., Use “Vision of Sony in the 1950’s” as a template and class exercise on the Management BBA program as a guideline. Take the time to carefully think about each section of the vision, discuss the possible vision statements with your team members, and come up with a final vision for the group as a whole. Keep one copy of your answers submit one copy per group of the completed Group Vision for Surfside for participation marks.

That benefits the whole group? That benefits all the stakeholders – the town? What is a common group Vision?

Complete role preparation sheet individually –Submit next class (negotiation lecture) Meet as a group out of class & set group vision for surfside –Submit 2 classes from now (persuasion lecture) Meet as a group out of class to start making a decision… Meet as a group in class and complete decision making task –3 classes from now (decision making lecture) In the next few weeks