CEOs Coaching Mentoring Program

CEOs Coaching Mentoring Program Introduction A number of successful organizations have relied on coaches and mentors in order to develop both current and future leaders and facilitate the realization of organizational goals.Advertising We will write a custom coursework sample on CEO’s Coaching Mentoring Program specifically for you for only $16.05 $11/page Learn More Given such importance of coaching and mentoring, professionals in the field have urged CEOs to incorporate coaching and mentoring programs in their leadership styles and develop positive influences within their organizations. This report justifies to the CEO of Skoda Auto why it is necessary to introduce coaching and mentoring programs in the organization. Coaching and mentoring: contents and participants Mentoring relates primarily to the â€Å"identification and nurturing of an individual’s potential through guidance, instruction, encouragement, and correction† (Megginson and Clutterbuck, 2005). The pro cess may involve a long-term relationship, but the mentee controls goals and processes of the mentoring program. A mentor or coach assists the mentee in developing an insight and comprehending the process through natural observation. This process allows mentees to develop awareness of their experiences as responses come from them. On the other hand, coaching refers mainly to â€Å"performance improvement usually on a short-term basis in specific skill areas† (Megginson and Clutterbuck, 2005). It is the responsibility of the coach to set the goals or short-term aims of the program. The coach controls the program, whereas the learner or the protà ©gà © owns the goals. The coach also provides feedback to the learner based on his direct observation.Advertising Looking for coursework on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Contents The course content shall capture fundamental aspects of coaching a nd mentoring with aim of understanding the importance of the program in an organization. Defining key terms of coaching and mentoring, which include mentor, mentoring, protà ©gà ©, and coaching Learners must also understand what coaching and mentoring are not. Coaching cannot succeed unless there are clear goals with measurable terms. Moreover, it needs support from senior managers, and the protà ©gà © and the coach must have full commitment to the program. Mentoring can enhance commitment of the team to Skoda, its strategic objectives, facilitate communication, improve organizational culture and practices, provide opportunities for the team to gain insights on how the firm runs and promote success and networking within the organization. Coaching will enable the team to gain skills, knowledge, and personal growth. It will also provide individual-centered learning, improve attitude, and allow protà ©gà ©s to choose their areas of interests. The content shall also cover the rat ionale for coaching and mentoring employees of Skoda, benefits of the program and identification of employees who can participate in the program The program will also evaluate qualities of a good coach and mentor by identifying eligibility, qualifications, characteristics and matching employees with the program Coaching and mentoring will establish a productive relationship with the aim of developing elements for starting and sustaining the program at Skoda Auto. Therefore, it will focus on the role of Skoda administrators, how to establish successful program, assess the needs of employees, ethical guidelines and confidentiality in the relationship of the coach and protà ©gà ©. The program shall explore pertinent areas that employees need to know in order to understand culture, practices, and norms of Skoda Auto, evaluate core knowledge required for a successful program, organize the team professional and personal lives, develop, and sustain organizational relationship in the indu stry. The content shall also explore methods of coaching and mentoring with aim of strengthening relationships. The CEO must support employees through sharing of experiences, facilitating and developing communication skills, encouraging shared decision-making, record keeping, reflective practices, and reducing risks in coaching and mentoring. Improve coaching and mentoring practices by highlighting differences between observation and evaluation, collect data for constructive feedback, encourage role modeling and continuous need assessment of the team. The program shall provide problem-solving strategies to allow the protà ©gà © to identify and resolve problems within the company. It will also highlight how to work with reluctant experts, provide real life examples, bring the program to successful end, and engage in continuous support after the end of the program. Finally, it covers mentoring and coaching scheme completion in which the CEO evaluates the success of coaching and ment oring scheme. The review involves lesson learned, integration approaches, and program evaluation and sustainability strategies The CEO must recognize that skills required in coaching and mentoring may overlap and at times the same. Therefore, he may use different methods to coach and mentor employees at Skoda Auto. The CEO as a coach may rely on direct feedback, whereas he may use observations and questions as a mentor. During coaching, the CEO must work with employees on specific areas such as marketing, sales, leadership, and management. These areas require specific objectives and approaches during coaching. The CEO must note that coaching and mentoring are â€Å"open processes, which many occur without the involvement of line managers and other departments† (Thomas and Saslow, 2007). In this regard, the coach mentor assists the protà ©gà © to achieve the best skills and knowledge for the organization by bringing new skills to specific areas of focus. The protà ©gà © c ontrols the learning process. Instead, the coach develops the protà ©gà ©Ã¢â‚¬â„¢s skills and knowledge by asking the right questions to enhance decision-making and self-awareness. The goal of the program changes as the protà ©gà © acquires new skills and knowledge. The program must meet all its set targets. Participants for mentoring and coaching Top executives who did not achieve much from normal training Executives who need to acquire new skills in various areas like leadership styles, knowledge management, and other related areas Workers who wish to develop their careers Top executives who have noticed poor records of achievements New recruits in the firm Workers who wish to transfer to other divisions Workers who have been away from work for a long period Decision-making managers in critical success areas Workers who need new abilities and insights The firm’s coaches and mentors Potential costs and benefits to the organization Coaching and mentoring shall offer man y advantages to Skoda Auto. Coaches and mentors who provide their services in efficient and productive ways offer opportunities for employees to acquire and grow new skills for the company and personal development.Advertising We will write a custom coursework sample on CEO’s Coaching Mentoring Program specifically for you for only $16.05 $11/page Learn More Retention Skoda Auto can win employees’ loyalty through coaching and mentoring. When the CEO molds his juniors, they may develop a strong sense of connection and commitment to the company. Coaching also encourages open communication between management teams and their juniors. Therefore, Skoda shall save costs on continuous recruitment of new employees. Personal Development Employees with minimal experiences can learn from their most experienced counterparts. This facilitates employees’ abilities to grow professionally. Therefore, Skoda can improve efficiency among its employees. Sti ll, coaching and mentoring enhance career growth of individuals. For instance, coaching provides employees with opportunities of solving their own issues. Such skills are useful in decision-making processes for the individual, as well as for the organization. Team Efficiency Coaching and mentoring have abilities to improve teamwork in Skoda because they provide opportunities for managers to identify strengths and weaknesses within the organization and among employees. As a result, the organization can assign duties to employees based on their abilities to collaborate effectively. Motivation Coaching and mentoring also increase employees’ morale, career progression, and job satisfaction. Consequently, Skoda can derive benefits, which come from motivated employees such as increased outputs and high rates of retention. Performance Coaching and mentoring aim at improving performance within the organization. Employees can use their new skills to improve achievement of targets, pro ductivity, and reduces cases of dissatisfaction.Advertising Looking for coursework on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Policy implementation Such programs account for talent management, diversity within the organization, and retention. Therefore, they can provide opportunities for the human resource department to arrange succession plans, employees’ placement, and policy implementation. Knowledge and skills benefit Coaching and mentoring widen skills, knowledge, and experiences of employees. In addition, they provide opportunities for employees to â€Å"acquire new skills and knowledge and support innovation† (ACCA, 2008). Managing change Coaching and mentoring program shall aid the company to support a culture of openness and information sharing. They can also improve reorganization, support new roles, and develop favorable attitude towards change. Succession planning Coaching and mentoring help in identification of employees with leadership abilities. Therefore, Skoda can develop its success plan and manage any change process, which can disrupt the company. Costs of coaching and ment oring Skoda can incur substantial costs because a well implemented coaching and mentoring program requires many resources. Some of the costs may involve the following: Fees for external mentors and coaches Training costs for organizational mentors and coaches Lost valuable or chargeable time during coaching and mentoring programs Coaching and mentoring consume considerable amount of time Costs of training the trainer for the organization Skoda can measure benefits of coaching and mentoring by analyzing their effects among employees. It should start by observing individual’s performance after coaching and mentoring programs. Alternatively, it may focus on a single department and note changes in areas of interests. The organization can define success as â€Å"a return on their expectations, which would be to achieve their coaching objectives† (ACCA, 2008). Skoda can evaluate the effectiveness of the program by using the following procedures. The company must set goals , a timescale, and create tools of measurements. This requires inputs of managers and protà ©gà ©. The learner must provide a reflection of lessons he or she has learned from the program through formal feedback. This should identify changes in management skills, behaviors, and performance. The mentor and coach can provide feedback in the learners based on pretest and posttest results. Observations from colleagues, team members, and line managers are also useful for evaluation purposes. The organization can measure key performance indicators (KPIs) of the learner after coaching and mentoring programs. At the same time, they can also observe rates of employee retention, growths in profits, and effects on customers. According to past studies, many organizations have applied the above steps to evaluate effects of coaching and mentoring on employees. They recorded improved results among employees (Thomas and Saslow, 2007). For instance, they noted improvements in staff relationships, management of change processes, employees’ problems, and strategic approaches to business. However, the major challenge is in measuring individuals’ performance based on their KPIs. Both external and internal factors can affect coaching and mentoring. Therefore, it is difficult to account for positive effects of coaching and mentoring programs based on KPIs of individuals. In 2006, Chartered Institute of Personnel Development conducted a study (Does coaching really work?) and noted the following: 96% of respondents thought internal and external coaching were highly effective Only 32% suggested that this conclusion could be based on KPI improvements, whereas the remaining respondents agreed their conclusions were subjective (Chartered Institute of Personnel Development, 2006). On the other hand, some institutions have found out systematic methods of measuring benefits from coaching programs. For instance, in 2001, Manchester Consulting Inc. conducted a study among For tune 1000 firms based on the return on investment (RIO) and noted that ROI was about 600 percent. It compared â€Å"the benefits as measured by increased revenue, cost savings, and estimated financial gains from better relationships and improved KPIs† (Manchester Inc., 2003). The study also established the following: Table 1: Benefits to companies that offered executive coaching Percentages in improvements Productivity 53% Quality 48% Organizational strength 48% Customer service 39% Reducing customer complains 34% Retaining executives who received executive coaching 32% Cost reductions 23% Bottom-lie profitability 22% Source: Manchester Inc., 2003 Table 2: Improved benefits to executives who received coaching Working relationships with direct reports 77% Working relationships with immediate supervisors 71% Teamwork 67% Working relationships with peers 63% Job satisfaction 61% Conflict reduction 52% Organizational commitment 44% Working relationships with clients 37% Source: Manchester Inc., 2003 Such figures provide precise ROI because of coaching. However, the Association of Chartered Certified Accountants (ACCA) noted that some organizations believe that the benefits of coaching are â€Å"not capable of such precise measure† (ACCA, 2008). Potential changes on organizational culture and knowledge management because of adopting mentoring and coaching program Organizations derive their cultures from â€Å"beliefs, practices, and behaviors that form a part of their identity† (Peel, 2006). In any organization, the CEO and managers take responsibilities of managing employees. As a result, they shape cultures of their organizations as they work towards organizational objectives. Therefore, the CEO of Skoda is in the best position of influencing organizational culture. However, transforming cultures in organizations require a team effort because a single individual cannot do it. Changing a culture of an organization can occur by winning the trust of employees. In this regard, coaching and mentoring can help the CEO to achieve cultural transformation in the organization. Skoda has developed its culture from attitudes, beliefs, and assumptions. Organizational culture can define the success or failure of a firm. In some cases, cultures may be obvious or hidden. Moreover, a large firm like Skoda may have a complex culture that consists of a number of sub-cultures in different divisions. However, it is difficult to identify how an individual’s behavior may affect the culture of an organization. Coaching and mentoring normally involve assessing, understanding, and changing the existing culture if there is a need. However, it is necessary to transform organizational culture over time so that the firm can realize its strategic business objectives. The mentor or coach should design a plan for guiding a culture change in an organization. This plan should also contain the desired chan ges as it addresses possible barriers to culture change. Managers who take part in coaching and mentoring programs can also facilitate culture change within the organization. This method is suitable for large firms. It is fundamental for the mentor or coach to a plan culture change for the CEO and senior managers so that employees can follow their examples. At the same time, coaching and mentoring programs should link organizational culture with the strategy. This suggests that organizational culture affects strategic objectives of the firm, and it is important for the program to account for business objectives. Denison observed that some elements of organizational culture like mission, involvement, consistency, and adaptability affect a firm’s â€Å"return on investments, return on assets, sales growth, customer satisfaction, and other outcomes† (Denison, 1990). A study by Barham and Conway shows that issues, which coaching and mentoring should focus on originate from a culture of a company (Barham and Conway, 1998). In addition, Hay notes that the way in which an organization treats its people and its strategies and structures are all a part of organizational culture (Hay, 1999). Therefore, Caplan pointed out that coaching and mentoring programs can only succeed if they align with the current organizational culture (Caplan, 2003). An organization can achieve a culture change through coaching and monitoring by focusing on the following: Promoting employees’ commitment and involvement Helping the CEO to set strategic vision for the company Focus on profitability, teamwork, and operation efficiency Executive coaching has a crucial role in transforming organizational culture. Therefore, mentors and coaches must ensure that programs address organizational culture adequately for effective development of group dynamic, leadership and management styles. Organizations have noted that creating, sharing, and retaining knowledge can create competi tive advantage. In this regard, managing knowledge has become a way of employee development due to sharing of proficiency and ideas, involving best practices, and developing mutual relationships. Best work practices usually engage and inspire employees, especially when they come from experienced managers and CEOs. Coaching and mentoring gained recognition across many firms as effective methods of transferring knowledge from experienced employees to others who need such knowledge. Through matching new or inexperienced employees with the â€Å"most experienced senior executives, an organization can effectively pass the intangible and tacit knowledge among its employees† (Denison, 1990). Knowledge management during coaching and mentoring processes allow employees to acquire new knowledge through formal processes. In addition, the protà ©gà © can create a bond with his or her coach or mentor. Knowledge management can be effective for firms, which have high rates of staff turnov er, high numbers of employees who are approaching retirement age, or where an organization has a poor training and learning habits. Through managing knowledge, CEOs and senior managers who have experiences can share their knowledge with the rest of the team. At the same time, interactions between coaches and mentors with the protà ©gà ©s increase socialization within the group. Junior employees shall understand the importance of corporate vision, values, beliefs, and improve their chances of networking both within and outside the organization. This suggests that Skoda should consider investing in the CEO’s coaching and mentoring as a valuable investment for the company. Knowledge management also facilitates open communication within the firm i.e., employees freely share their knowledge and skills with others, including employees from other departments. Coaching and mentoring must address issues of competition among employees by encouraging a culture of creating, sharing, an d retaining knowledge within the organization. Coaching and mentoring have abilities to facilitate such seismic changes. Therefore, if the CEO is also a mentor and coach, then he or she has favorable opportunities of transferring knowledge to other employees. Coaching and mentoring are ways of advancing skills and knowledge to people who need them. Moreover, the CEO also creates an opportunity of grooming potential replacements and successors for the organization. The CEO, as a coach and mentors, has opportunities of expanding the skill pool for the organization. In addition, he or she must also endeavor to have many talented individuals for the company. In short, the CEO has the responsibility of ensuring that an organization has the right people for its future growth. Benchmarks to judge the success of a coaching and mentoring scheme Once Skoda Auto has decided to introduce coaching and mentoring scheme, the mentor or coach and the learner must set certain goals. Identify specifi c areas for mentoring and coaching Define overall goals and objectives of the scheme Create achievable and realistic outcomes Create a plan for getting the preferred results Develop a suitable coaching or mentoring scheme for the program Create a favorable timetable Devise a method of evaluation and assessment of the progress Develop a feedback mechanism The coach or mentor and the protà ©gà © must agree on a feedback mechanism before the beginning of coaching or mentoring process. A feedback system provides opportunities for the coach or mentor to provide a true account of the success or failure of the program. It is necessary for the mentor or coach to seek for feedback as scheduled so that they can address any emerging issues before such issues derail the program. It is also necessary for the mentor and protà ©gà © to â€Å"agree on evaluation processes and standards for the program† (Thomas and Saslow, 2007). This implies that the program must have â€Å"clear objec tives, standard, assessment, and evaluation systems to allow for effective review of the protà ©gà ©Ã¢â‚¬â„¢s progress† (Thomas and Saslow, 2007). Table 3: Coaching program with targets and assessment Jones Willis Coaching program Objective To promote teamwork Standard targets Facilitate communication among team members Propose new ideas Share the workload Provide assistance to colleagues without requests from the team members Assessment Informal review after every month for the next four months Evaluation Within four months The mentor or coach shall collect feedback data by informal interactions with the protà ©gà ©. The mentor or coach records the outcomes in a report together with recommendations for the next course of action. Before or after the end of mentoring or coaching program, the protà ©gà © and mentor or coach should â€Å"check the progress against the set objectives and criteria† (Megginson and Clutterbuck, 2005). The process involv es making of a short report. The protà ©gà © and the coach or mentor must review their achievements against the objectives, provide overall account of the program, and provide recommendations for further action if required. Table 4: Coaching program evaluation outcomes Jones Willis Coaching program Objective To promote teamwork Standard targets Facilitate communication among team members Propose new ideas Share the workload Provide assistance to colleagues without requests from the team members Evaluation The protà ©gà © has met 80 percent of the program target Good performance on communication and proposing of new ideas Requires to assist the team and increase the level of teamwork Further recommendation Must be in a charge of proposing new marketing campaign ideas and leading the team and project for effective evaluation of the progress Both the mentor or coach and the protà ©gà © must be aware of possible barriers to effective coaching and mentoring. So me of the barriers include the following: Challenges from organizational culture whereby the culture of the organization does not support coaching and mentoring program Inappropriate matching of the mentor or coach with the employee Failure of the CEO and line managers to support the initiatives Lack of collaboration and support from colleagues who have missed an opportunity to take part in the mentoring and coaching program Lack of clear objectives Unrealistic expectations about the possible outcomes from the program Conflicts between the line manager or other departments and the mentor or coach e.g., failure to involve the HR department in the process of selection Conclusion Studies have shown that both coaching and mentoring programs could provide significant benefits to an organization. As a result, the role of ‘the CEO as a coach and mentor’ as gained popularity in many organizations. This provides adequate grounds for a subsequent adoption of the program by the CEO of Skoda Auto because it is necessary for managers to possess various skills and knowledge and transfer them to other employees. The approach to coaching and mentoring can be either short-term or long-term program based on the availability of time. However, it is necessary to monitor the effectiveness of coaching and mentoring program, but there is a need to understand the relationship among the learner, managers, HR, and the coach or mentor. For instance, employees may select their own coaches and mentors without consulting with the HR or other departments. This has led to conflicts in the program. Effective mentoring and coaching must have clear objectives, goals, milestones, outcomes, evaluation, and feedback procedures. Every detail must be clear before the start of the program. The aim of the program is to improve employees’ performance. Therefore, it is simple to measure ROI if there are clear guidelines. Skoda Auto must implement practical steps in order to improve coaching and mentoring programs. Besides, past studies have indicated that coaching programs have the potential to increase RIO of an organization. However, some firms believe that it is difficult to provide precise measure for such benefits. The company must understand the ultimate role of mentoring and coaching as methods of improving performance rather than as substitutes for conventional studies. The roles of the CEO and other senior managers are critical for the success of the program because of their influences on organizational culture and knowledge transfer. Such involvement and support show other employees that senior executives also believe in the culture of mentoring and coaching as strategy with benefits to the firm. However, the firm must anticipate any barriers to effective implementation of the program. Reference List ACCA, 2008 The coaching and mentoring revolution – is it working? ACCA, London. Barham, K, and Conway, C 1998, Developing Business and People In ternationally: A Mentoring Approach, Ashridge Research, Berkhampstead. Caplan, J 2003, Coaching for the Future, Chartered Institute of Personnel and Development, London. Chartered Institute of Personnel Development. (2006). Does Coaching Really Work? CIPD, London. Denison, R 1990, Corporate culture and organizational effectiveness, John Wiley, New York. Hay, J 1999, Transformational Mentoring: Creating Developmental Alliances for Changing Organizational Cultures, Sherwood Publishing, Watford. Manchester Inc. 2003, Executives Coaching Yields Return on Investment of Almost Six times Its Cost, Says Study. Web. Megginson, D and Clutterbuck, D 2005, Techniques for coaching and mentoring, Elsevier Butterworth Heinemann, London. Peel, D 2006, ‘An Analysis of the Impact of SME Organisational Culture,’ International Journal of Evidence Based Coaching and Mentoring, vol. 4, no. 1, pp. 9-20. Thomas, N and Saslow, S 2007, ‘Improving productivity through coaching and mentoring ’, Chief Learning Officer, vol. 6, no. 5, pp. 22-26.

Dont monkey around with fonts - Emphasis

Dont monkey around with fonts Dont monkey around with fonts According to childrens literacy website Reading Rockets, when kids start to read, they like to mirror the writing they see around them. So, if they see you writing a list, they may well write one too. If youre writing in your diary, theyll probably have a pretend one too. Most parents will help their children get better at writing by practising forming letters with a variety of mediums: paper, sand, snow or even in the air. Its also good to read things which just happen to be around and might well catch the eye like cereal packets, for instance. So, how confusing is the font for Kelloggs Adopt a Monkey campaign? As a marketing idea the Adopt a Monkey campaign is a cracker. It ticks all the boxes: cuddly animals, conservation and charity. But who designed the font? With capitals D, N, H, P and G slung with gay abandon in the middle of words on both the Kelloggs and Born Free sites, theyre making reading and writing just that bit harder for a major part of its target audience. Do you baulk at, KeePiNG WiLDlife in tHe WiLD, or BorN Free, or is it just me? Do you feel this curious choice of script is designed to make a younger audience feel at ease because these are the kinds of mistakes kids make when theyre learning to write? In that case we could soon be going down the crumpled paper, smudge-infested route. Perhaps with the odd dribble or bogey on: thats common in kids efforts too. So: Adopt a Monkey great idea, guys. But rein in those designers or youre only making an already complicated system even more difficult for those just starting out.

Understanding Property Markets Essay Example | Topics and Well Written Essays - 750 words

Understanding Property Markets - Essay Example Understanding Property Markets On the other hand, real GDP is computed by dividing the nominal GDP by the price index or inflation for that year. That makes it real because it is being adjusted for the price level at the time of measurement. The pattern of nominal and real GDP showed that there was an increasing GDP from 1948 to 2008 but a little decrease in the next years. The gap between the nominal and real GDP shows the difference in the price level over the years. As the graph shows, the large gap between the red and blue curves means that there was a high rate of inflation during those years. So, when even if nominal GDP is reported at high volumes, once it is adjusted to the high price index it will result to lower real GDP. The estimates of the long-run annual growth rates of nominal and real GDP will help us determine the future growth rate of UK economy. We can also see how the UK economy is expected to perform in the coming years through these estimates. This will also help other sectors of the economy in deciding about their participation in the economic activities. As the estimates show rising growth rates, we can speculate that UK economy is also in rising position as to economic growth is concerned. The Gross Domestic Product (GDP) in the United Kingdom expanded 0.70 percent in the last quarter of 2010 over the previous quarter. From 1955 until 2010 The United Kingdom's average quarterly GDP Growth was 0.59 percent reaching an historical high of 5.30 percent in March of 1973 and a record low of -2.50 percent in March of 1974.... Economic fluctuations and economic growth are related (McConnell,Brue, p. 114, 2005). During recessions, consumer spending is reduced or lower but in economy’s recovering period income can be increased as production also increases. The manufacturing sector is being driven by exports, not least to the growth areas on the far side of the globe, but the service sector is suffering from a lack of confidence with consumer spending being reined in (www.bbc.co.uk, 2011). From the figures given, we can say that the real GDP can fall because of the small standard deviation. Standard deviation is used to measure the volatility of the business cycle or economic fluctuations. As business cycles become less volatile, economic growth is also in slower rate. But if the volatility will be higher, the economy will be in good position. The graph shows the UK quarterly growth rate in percentage. The quarterly percentage change marked at positive rate shows the increasing rate of outputs of goods and services. This may be the times of peak for an economy. For during these times the economy is at full employment, real output is at economy’s capacity and prices may be at high level. But quarterly percentage change marked at negative may present the economy’s recession. This means that at these times there is no economic growth attained because of decreasing output or real GDP. Contrary to the peak phase, recession may bring output at its lowest level. But if the economy can recover, the output may rise again through the increase in production and price levels. Annual economic growth rate can be examined through the annual changes in real and nominal GDP. These changes can tell us about the economy’s level of performance