Work Based Learning Project MGT 493 Dr Muhammad
Work Based Learning Project MGT 493 Dr. Muhammad Imran Malik
Recap
Lecture 8
Few Work Related Skills
Few work related skills • • • Action planning Entrepreneurship Decision making – problem solving Negotiation Social net working Resource utilization Self appraisal Team working Effective communication
Action planning • It is about learning “defining a goals and devising means to achieve that goal with in a given period of time”. • An action plan is comprised of; – Specific tasks – what will be done and by whom? – Time horizon – when will it be done? – Resource allocation – what specific funds are available for specific activities.
Entrepreneurship • The capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit. • Starting a new business to produce profits by employing – Land – Labor – Capital – Natural resources
Decision making • The thought process of selecting a logical choice from the available options. • Example: Purchasing computers for an office. • Process; 1. Define the problem. 2. Identify the decision criteria. 3. Allocate weights to the criteria. 4. Develop the alternatives. 5. Evaluate the alternatives. 6. Select the best alternative.
Negotiation • Bargaining process between two parties. • It is basically a discussion aimed at reaching an agreement. • Generally managers are involved in negotiation at the time of hiring an employee • Dealing with banks while obtaining loans etc.
Social net working • Creating a group of associates and keeping it active through regular communication for mutual benefit.
Resource utilization • Using in effective manner the proportion of the available resources. – Time – Materials – Humans – Etc.
Self appraisal • It is an act of judging oneself as compared to others. – Knowledge – Skills – Work experience Equality results in satisfaction
Team working • The process of working collaboratively with a group of people in order to achieve a goal.
Effective communication • A two way information sharing process which involves one party sending a message that is easily understood by the receiving party.
Summary
- Slides: 15