Personal Preparation For Learning The Art Of Great Decision Making A Guide By The Top MBA Colleges In Hyderabad

“Whenever you see a successful business, someone once made a courageous decision.” - Peter F. Drucker

All of us must have had this situation at least once in our life when we had that pit in our stomach telling us continuously, “I am not very convinced with this decision you made.” Many a times in life and work, we have to make difficult decisions some of which we are not quite ready to make.

Getting into one of the Top MBA Colleges in Hyderabad was a good decision making but what next. Once out of the Best MBA College in Hyderabad, you will face a lot of situations at your workplace where you will require the art of good decision making.

We at VJIM, stresses on this important factor while training our students  to become a good manager in future. But there are a lot of thing you can do at personal level as well. Here is a list of few factors:

1.        Preparation

This is the foremost requirement for making the right decision. Try to collect all the relevant data and process it effectively in order to get the most out of it. This would not only help minimize confusion but also eliminate self-doubt while taking the decision.

 

2.      Intuition and Logic

We take hundreds of decisions in a day. Right from what to wear to what to eat and how to respond to the client email, each decision needs a certain amount of mental effort. For bigger, much important choices in life or at work, we need more time while other decisions are just automatic and intuitive.

According to the renowned Psychologist Daniel Kahneman, there are two ways of thinking - System One and System Two.

System One : This caters to the day to day decision making. For example, when you are driving on the familiar road everyday.

System Two : This caters to a much slower and conscious decision making. One that includes complicated and important business issues.

Having an understanding of these two systems can lay a sound foundation for a successful decision making.

3.      Right Mind Space

For making a right decision, the most important thing you need is the right space of mind. Human mind wanders too much and it is hard to make the right decision when you are juggling with a dozen ideas at one time. It is extremely important to focus on making an effective decision by clearing your mind off all the unnecessary thoughts. Concentrate on one thing at a time  and work your way through the problem calmly and mindfully.

4.      Careful Of Bias

Another hindrance to an effective decision making is the presence of biases. Sometimes these are present without our knowledge also. Presence of biases can be a disaster and affect our decision making to a large extent. It is important to challenge the status quo and come out of your comfort zone while making a decision. Only then the former prejudices you have won’t come in the way of your current decision.

5.      Trust Factor

Not only you have to trust yourself but also your team. Self doubt can be responsible for a major error in decision making. With a correct decision, not only will your organisation grow but also the people involved.

6.      Time Management

You won’t have your whole life for making the right decision. Every decision, no matter how big or small, needs to be taken under some sort of time pressure and therefore time management can be one thing that will help you master the art of decision making.

Books Every Student Of MBA College In Hyderabad Should Read

Give and Take might be one of the most important book for the young enthusiastic generation of students. It is not only insightful and entertaining, but it has profound implications for how we manage our careers, design our institutions, deal with our friends and relatives, and raise our children. It also shatters an age old myth – “Greed is the path to success.” In other words, this book teaches you that you don’t need to be selfish to succeed in this life.

Books Every Student Of MBA College In Hyderabad Should Read

Why Is It Important For You To Develop Presentation Skills In Your PGDM In Hyderabad

In VJIM, we always lay emphasis in acquiring this essential skills. Students are encouraged to make presentations and are encouraged to present in front of professors and fellow students. Special sessions are kept where students learn various techniques of public speaking. All this training helps them in various ways in their job. ​Presentations are also a great way to shine and make your mark in front of the senior management. Fresh out of a PGDM college in Hyderabad, it is your time to create your impression. Riding the same elevator with the senior executive or setting in a meeting with him won’t do much good to your personal brand.

Why Is It Important For You To Develop Presentation Skills In Your PGDM In Hyderabad

Understanding The Planning Cycle With PG Diploma In Business Management

Once you are done with the analysis, you now need to choose precisely what the aim of your plan is. Having a clear aim streamlines your focus thereby preventing you from wasting time in non productive issues. Planning is an ongoing process and is not  a one day job. A proper planning cycle as is taught in PG Diploma in Business Management, is to bring together all facets of planning into a single unified process. Planning cycle is a crucial aspect of a lot of PG Courses in India and therefore, today we have come up with a stepwise guide to a successful planning cycle:

READ FULL Blog Here :::: Understanding The Planning Cycle With PG Diploma In Business Management

The Art Of Writing A Business Case - A Guide By PGDM College

Do not try to justify a single solution against all parameters as this could take you a much longer time thereby wasting your effort on unimportant issues. As defined by various PGDM Colleges, it is the art of painting a picture for the audience and making them believe in your idea. The Business case is usually a document that explains the core business benefit of the business idea thereby justifying the expenditure of the initiative. The art of writing business case is crucial whether you are doing a project from scratch or joining in the mid way.  You can find a lot of templates for writing a business case in your PG Diploma Courses, but here is a step wise guide to the approach you should follow while writing it down:

READ Full Blog Here :::: ​The Art Of Writing A Business Case - A Guide By PGDM College

5 Tips To Keep In Mind While Carrying A One-On-One

“What is the Shortest Word in the English Language that Contains the Letters: abcdef?

Answer : feedback.

Don't Forget that Feedback is one of the Essential Elements of Good Communication.”

While doing your Post Graduate Diploma in Management, you will learn about the power of communication in management and one of the best way to ensure a healthy communication is to do it on a regular basis.  The concept of one-on-ones is based on the structure of effective two way communication on a regular basis. This helps you to have a clear picture of your team objectives, gives you a better understanding on how coach your people and identify the  areas of  improvement not only them but also for you.

Many  Post Graduate Diploma Courses, stresses on the importance of the one-on-ones in bridging the gap between you and your team. This not only strengthens your relationship with the team but also creates an energised and motivated environment to work.

Having  regular one-on-ones keeps you informed everything that is going on in your team and also offers an opportunity to fix any possible conflict of interest at an early stage thereby ensuring the bonding of the team as well as happy individual team members. In this spirit, here are a few tips to ensure a great one-on-ones with your team:

1. The Right Place

The best place to carry one-on-ones is the neutral ground. Having a conversation in your office or in a place where you are watched by many people not only will create a negative environment for your team member but would also hamper a friendly conversation.

You can always take them for a coffee and talk business in a non formal way. This would help create a comfortable environment where both the parties could feel free to speak about their concerns. This is  also  a great way to bond with your team in an informal manner and would help you establish more cooperation with your team members.

2. The Right Time

The most effective way to carry one-on-ones is to keep them on a regular basis. The frequency and the duration of the meeting can depend on the agenda you have for your meeting but  the possibility of a one-on-one should always be there on the table. This would not only ensure a level of confidence in your team member that you are there whenever they need you but would also help fix the issues at an early stage before they take some unmanageable turn for you.

3. The Right Scope

There should always be an agenda in mind before you set up your one-on-ones. It could cover anything from the addressal of possible issues to exploring future career growth options for your team members. The agenda should be communicated in advance so that both the parties can come fully prepared and  there is no wastage of time in building the base of the conversation. The right scope also establishes a fact that you take these one-on-ones very seriously and it is not just a waste of time or a mere formality for you.

 

4. The Right Tone

The one-on-ones are all about setting the right tone of the meeting. These could work extremely well for you or can turn out to be a big disaster if you are not careful with the tone of the meeting. Try to reduce the power gap and make your team member feel comfortable so that he can speak freely and without any pressure. Use these meetings to work closely with each other so as to hit high levels of performance at the same time keeping the atmosphere warm and upbeat.

 

5. The Right Goals

Listening to someone and acting upon it are two very different things. The one-on-ones would be only successful when there are certain visions and goals are involved so that you could actually see the effectiveness of one-on-ones in a quantifiable way. Make it a habit setting clear goals about what needs to be achieved in a given time frame. This would also create an agenda for your next meet. Create minutes of meetings and share it with your team members in order to establish common ground and avoid any misunderstanding from happening.

5 Steps To Practice Mindfulness In The Workplace

Getting caught up in the web of anxious thoughts could negatively impact our productivity. This pattern could impact the organizational goals in the long run and therefore many top MBA colleges in Hyderabad recommend their students to practice mindfulness. The term mindfulness is often used interchangeably with “meditation.” Practicing mindfulness at work can reap you a lot of benefits. So whenever you have such feelings, all you have to do is let it pass. Just remember, these thoughts do not define you till the time you do not act upon them. Here is a stepwise guide by an expert in Diploma in Financial Management on how to practice mindfulness:

READ Full Blog Here ::: 5 Steps To Practice Mindfulness In The Workplace