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sl/BMBE/ 201 6

1. sl/BMBE/ 201 6. Business M anagement in the B uilt Environment. Controller. Task-master. D39B U. LESSO N O N E :. I N T R O DUC T I O N T O BU S I N ES S M ANA G EME N T I N BU I L T E N V I R O N ME N T ( B M B E ). Strategist. 2. sl/BMBE/ 201 6.

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sl/BMBE/ 201 6

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  1. 1 sl/BMBE/2016 Business Management inthe BuiltEnvironment Controller Task-master D39BU LESSONONE: INTRODUCTIONTOBUSINESS MANAGEMENTINBUILT ENVIRONMENT(BMBE) Strategist

  2. 2 sl/BMBE/2016 D39BU–BUSINESSMANAGEMENTINTHEBUILTENVIRONMENT LessonOne: Introduction, outlineofmodule& Overviewof Strategic Approaches Management AdaptedfromHW TurkerBayrak University‘snotesfromDrScottFennie &Dr

  3. 3 sl/BMBE/2016 Whyisthiscourserelevant? It is fundamental to thesuccessoftheir memberseducation • (you)and their ownsuccess–the bodies themselvesare an organisation! Our profession requires us tounderstand and displaya • good knowledgeof strategy. It is for our careerdevelopmentwithintheorganisation hierarchytoknowtheArt ofWarwith regards tostrategy HWUSBE is not here toprovidegraduateswith only technicalskills,wewant to providehighquality professionals whoare capable ofindependentthought, takingtheinitiative, debatingandcommunicatingcomplexideas. • •

  4. 4 sl/BMBE/2016 Relevanceofstrategicmanagement Engagingwiththiscourseisthereforefundamental todevelopingyouasafullyroundedprofessional. Thecoursewillalsoprovideyouwithaplatformto understandthe complexitiesof theorganisational worldandmostimportantly,strategy. Thecoursewillalsochallengeyoutothinkina verydifferentwayfromthedominantparadigm usedinyourtechnicaleducation. Anunderstandingofandanabilitytoengagewith anddevelopstrategicmanagementqualitiessets yououtforpromotion.Itmakesahugedifference toyourfuture • • • •

  5. Schedule • W1-Intro to Business Management in BE • W2-Organisation • W3-HR and Staff Development • W4-Intro to Strategy • W5-Strategic Analysis • W6-Strategic Analysis and Choice • W7-Strategic Implementation • W8-Quality Management • W9-Revision

  6. James Watt – Industrial Revolution 1736-1819

  7. 5 sl/BMBE/2016 Aimsofthismodule Broadly introduceBusinessmanagement(planningina sense) issues(with a capitalB) Toexplorethe strategic arena inwhichthe BIGdecisions are made Tointroducestrategic managementtheories Toprovokeyou intothinkingmore broadlyandstrategically about your industryandits relationtothe strategic management literature Toexplorebriefly the changesandchallengesthat MAY faceyour industry Tofurther developyour academicknowledgeand research skills Todevelopyour professionalknowledgeof organisations • • • • • • •

  8. 6 sl/BMBE/2016 D39BU– Business Managementinthe BuiltEnvironment OURMODULECATCHPHRASE? “ThinkSquirrels.Thinknuts.” “SomeStrategic advice: Whatdoes a squirrel doinsummer? Itburiesnuts. Why? Well,inwintertimeit’llhavesomethingto eat andwon’t die. So,collectingnuts in thesummer is worthwhilework. Every task you doat work,think… Woulda squirreldothat?” Cleggetal.(2005), p409

  9. 7 sl/BMBE/2016 D39BU – Business Management in the Built Environment STRATEGIC&BUSINESS MANAGEMENT JOKE! …IT’SNO

  10. Importance Urgency

  11. Promoted To your Level of Incompetency

  12. 8 sl/BMBE/2016 D39BU– Business Managementin theBuiltEnvironment IMPORTANCEOFSTRATEGICBUSINESS MANAGEMENT: •TOINCREASESHAREHOLDER VALUE •TOACHIEVEGROWTH WITHINTHE MARKETPLACE; •TOIMPROVE PROFITSANDMAXIMISE SUCCESS •TOSATISFYCUSTOMERS •TOPROVIDE EMPLOYMENT

  13. 9 sl/BMBE/2016 D39BU– BusinessManagementinthe BuiltEnvironment Relevance& youandI(as importanceofbusiness management to managers & leaders) •FUNDAMENTALGROUNDINGOF MANAGEMENT •DISPLAYAGOODKNOWLEDGEOFSTRATEGYAT •HELPSMANAGERSTO HARNESSABILITYTOTHINK; •ENABLESMANAGERSTOTHINKSTRATEGICALLY&TO •ENABLESMANAGERSTOCOUNTERACTCHALLENGES MANAGEMENTTECHNIQUESAND MODELS…. THEORIES; WORKPLACE; PLANAHEAD; FACEDATTHE WORKSITUATIONS BYAPPLYING

  14. 10 sl/BMBE/2016 D39BU– BusinessManagementinthe BuiltEnvironment WhatYOUhopetoachievefromthiscourse? •TOPREPAREANDPASSTHEEXAMSWELL •TOHAVESUFFICIENTKNOWLEDGETOAPPLY ATTHE WORKPLACE •TOBECOMEBETTERMANAGERSAND LEADERS •TOBE MOREFORWARDTHINKINGAND PROACTIVE •TOFACECHALLENGESHEADON…

  15. 11 sl/BMBE/2016 D39BU– BusinessManagement inthe BuiltEnvironment Otherthingsyoushoulddevelop •Tobe anindependentlearnerby havingthe freedomto exploreacademicmaterial •Anabilityto find, deconstruct and interpretmaterial toaid understanding •Freedomto think andexpressyour views •Ahealthydose of cynicism •Presentation andcommunicationskills

  16. 12 sl/BMBE/2016 D39BU– BusinessManagementinthe BuiltEnvironment Objectives&Aimsofthismodule Broadly introduceBusinessmanagement(planningin asense) issues(with a capitalB) Toexplorethe strategic arena inwhichthe BIG decisionsare made Tointroducestrategic managementtheories Toprovokeyou into thinkingmore broadlyand strategicallyaboutyour industryand itsrelationto the strategicmanagementliterature Toexplorebriefly the changesandchallengesthat MAYfaceyourindustry Tofurther developyour academicknowledgeand research skills Todevelopyour professionalknowledgeof organisations • • • • • • •

  17. 13 sl/BMBE/2016 D39BU – BusinessManagementintheBuiltEnvironment Broadthemestobecoveredinmodule (refertoTextbook) •Introduction •Schoolsof thought(1) •The strategic managementprocess •Strategic analysis&Strategic Choice •Changeinconstruction Industry •Implementation andfeedback •Q&Afeedbacksessions

  18. 14 sl/BMBE/2016 D39BU– BusinessManagementinthe BuiltEnvironment Let’sstartoffwiththemeaningof “BuiltEnvironment“ Builtenvironmentreferstothehuman-made surroundingsthatprovidethesettingfor human activity, rangingin scalefrompersonalshelters andbuildingstoneighborhoodsandcitiesthat canoftenincludetheirsupportinginfrastructures, suchaswatersupplyorenergynetworksetc..

  19. 15 sl/BMBE/2016 D39BU–BusinessManagementin theBuiltEnvironment 3 main areas in Built Environment •Architecture& Environmental Psychology •LandscapeArchitecture •Urban Planning •The fieldof BuiltEnvironment is generally not regarded as a traditional profession oracademicdisciplineinits ownright,instead drawing upon areas such as economics, law, public policy,management,design, technology, and environmental sustainability.

  20. 16 sl/BMBE/2016 D39BU– BusinessManagement inthe BuiltEnvironment RealEstateIndustry severalactivities CapitalRisk–hugesums of Ownershiprisk Developmentrisk– vertical Management risk isastrategic balance of money involved and horizontal

  21. Risk • The probability of loss • The probability of not receiving what is expected • The difference between expectation and realisation • The variance of return relative to the expected or most likely return • The chance or probability that the investor will not receive the expected or required rate of return on the investment

  22. Developer’s Risk • The property market is an imperfect and inefficient market • Developers mitigate against risk by carrying out various levels of risk assessment: • Basic financial feasibility model • Discounted cash flow analysis • Sensitivity analysis • Probability analysis (Monte Carlo simulation)

  23. Contractor’s Risk • Risk identification • Works risk (Material Loss or Damage) • Liability risk (Third Party) • Occupational health and safety risks (Workers Compensation) • Security risks (Force Majeure) • Environmental risks • Income risks (Loss of Profit) • Fire • Flood • Roof leakage • Ground subsidence • Explosion • Lightning • Collapse • Smoke • Water • Security and vandalism • Pollution

  24. 17 sl/BMBE/2016 D39BU–BusinessManagementinthe BuiltEnvironment RealEstateIndustryRolesintheeconomy Landspeculation- land/propertybrokers landdevelopment–technicalprof/financial prof/consultants/generalmanagementpeople Buildingdevelopment-construction management/leasingprof/brokers Ownershipofastabilizedassetdevelopment– propertyowners/stakeholderssuchasportfolio management/assetmanagementprof/property managementprof/consultants/maintenanceservices professionals • • • •

  25. 18 sl/BMBE/2016 BusinessManagementin the BuiltEnvironment Thenatureofconstructionbusiness •Involves a complexarray of independentactivities,materials and peoplewiththe followingchallenges: The demandfor construction is inconsistent Workis seasonalnot continuous Widerange of designsand lackof uniform in presentation Technologicalchallenges Highrisk of unforeseencircumstances such asnatural disasters,calamitiesandhumanerrors Challengeof getting the right manpowerandlabour Outputis alsodependenton many factorsinspiteof good design Refertopg7 of Unit1 a. b. c. d. e. f. g. h.

  26. 19 sl/BMBE/2016 BusinessManagementin theBuiltEnvironment Understandingmanagementprinciples •Whatistherole setting? •Developmentof •Traitsofagood •Leadershipand •Traitsof agood ofamanager inabuiltenvironment management manager theories leader thinkingandphilosophy

  27. 20 sl/BMBE/2016 BusinessManagementin theBuiltEnvironment WHATISMANAGEMENT? Somedefinitionsof management following: includes the •Runningthingsproperlyand efficiently •Gettingthingsdonethroughpeople– •Makingdecisionstoachievegoalssetby organisation

  28. Multiple Projects Actions Responsibilities in Various Phases Project 1 Project 3 etc. etc. Project 2 Project 4 Market Market Research Intelligence Site Marketing / a a a Finding Directors Initial Concept Arch. a b b b and Feasibility QS-Acc.-Fin a Purchasing Marketing / c a c c and Legals Legal b b Arch. b Brief Development, Eng. Programming d d c d M&E c and Scheme Design c QS Feedbk ID Loop Working Drawings Landscp e e e and Documentation d d d Main Cont. Substructure f f f Site- Management e e Superstructure Labour g g g Materials Services Equipment f Logistics Finishes h e f h i QA/QC g g Sales Marketing i k i and Legals Acct / Legal h h f Int. Design Fitting-Out j j F/O Cont. i Defects and i k k Sub-Con Maintenance g j j h k k i j k

  29. Construction Resources • The 5 M’s • Money • Material • Methods • Manpower • Machinery

  30. 21 sl/BMBE/2016 BusinessManagementin theBuiltEnvironment DevelopmentofManagementThinking FrederickTaylor– Fatherof ScientificManagement: His principleswere: Developa systematic andconsistentapproach(orscience) operationalactivity foreach • Replace“ad-hoc”or“rule Determine accuratelythe foreachtask Establishan organisation responsiblefor managing performance ofthumb”practice mostsuitablemethodand allowable • • time structureinwhichmanagementis • workers,whowilldo the actual job Use systematic or scientificrecruitment andtrainingof the • workforce,so thatthe best availablestaffare trainedto perform their tasksmostefficiently

  31. Western Electric Company – Chicago 1920 • Chosen • Group • Feeling Special • = Increased Productivity

  32. 22 sl/BMBE/2016 BusinessManagementin theBuiltEnvironment Whatmakesagoodmanager? EssentialTraitsofa Manager •Listatleast 4 qualities of whatyouthink makes agoodmanager?

  33. 23 sl/BMBE/2016 BusinessManagementintheBuiltEnvironment ESSENTIAL TRAITSOFMANAGERS? Pg 6 Take the Initiative Passion Stress tolerance Reliability Positive attitude Mentaltoughness Meticulous Senseof urgency Selfcontrol/discipline Thirstfor knowledge Willingnessto work Approachable& friendly

  34. 24 sl/BMBE/2016 BusinessManagementintheBuiltEnvironment LEADERSHIP pg9of unit1 AGOOD LEADERISONE WHO POSSESS FOLLOWING: THE •ABILITY •ABILITY TO TO CREATEVISIONANDMOTIVATION COMMUNICATEEFFECTIVELY •ABILITY TO EMPOWERSUBORDINATESBY SHARINGPOWER •ABILITYTO ORGANISETEAMSBASEDON THE STRENGTHSANDWEAKNESSESOFEACH PERSON

  35. 25 sl/BMBE/2016 BusinessManagementintheBuiltEnvironment LEADERSVSMANAGERS TRAITSOFAGOODLEADER? Abrainstormingsession Then,discuss: Critically analyze the traits which successfulleader /entrepreneur characterize a

  36. 26 sl/BMBE/2016 BusinessManagementintheBuiltEnvironment Tannenbaum&Schmidt’sleadershipcontinuum Refer toFig 1.3:PG 11 OFChapter1 (draw the diagram) tight flexible Themanager’suse ofauthority Subordinate’sscopefor discretion Mgr makes Mgrconsults Decisionsalone groupfirst Mgr&group Discuss& decides Subordinates Makesdecisions

  37. 27 sl/BMBE/2016 BusinessManagementin the BuiltEnvironment LeadershipStylespg10Unit1

  38. 28 sl/BMBE/2016 BusinessManagementin theBuiltEnvironment SITUATIONALLEADERSHIPMODEL: HERSEYBLANCHARD RefertoPg 13ofUnit1 Anddiscussthescenariosfromthe constructionindustryaboutthe different typesofleadershipstylewith thismodelin mind.. &

  39. BusinessManagementin theBuiltEnvironment SITUATIONAL LEADERSHIPMODEL: HERSEYBLANCHARD RefertoPg 13ofUnit1

  40. Steve Jobs – Technical Revolution Transactional Leadership - Inspires Followers

  41. Transformational Leadership - Shows people the way “Leadership is the art of accomplishing more than the science of management says is possible.” General Colin Powell Chairman (Ret), Joint Chiefs of Staff A Leadership Primer

  42. 29 sl/BMBE/2016 BusinessManagementin the BuiltEnvironment Examquestionsrelatedtoleadership 1A)Reflecting upon Tannenbaumand Schmidt (1973) leadershipstylecontinuumtheory,evaluatehowtwoworld famousleaders of yourchoice wouldbe classified? B) Criticallyassessthelongterm implicationsof leadership stylein staff retention. 2A)Different typesof leaders derive their powersfrom differentsources. Reflecting uponthe typesof leaders you arefamiliarwith; B)Analysethe weaknesses and strengths leader typespossess ofeachof these

  43. D39BU– Business Managementin the Built Environment Classdiscussionandexercise: WhatarethedifferencesbetweenJapanese constructioncompaniesandWestern Constructioncompanies:

  44. 31 sl/BMBE/2016 D39BU– BusinessManagementinthe BuiltEnvironment WHATARETHEFORCESINTHEENVIRONMENTthataffectsyour organisation?YouneedanenvironmentalscanwithInternalanalysis ofthefirm&externalassessment(Unit5) Externlmacroenvironment(STEEPanalysis-soc,tech,econ,env,pol) weaknessesandthe externalanalysisrevealsopportunities opportunities,andthreats isgeneratedbymeansof a Anindustryanalysiscanbe performedusingaframework This framework evaluatesentry barriers,suppliers, (tobediscussedinlater lessons ) Theinternalanalysiscan identifythefirm's strengths and and threats.Aprofileof thestrengths, weaknesses, SWOTANALYSIS developedby MichaelPorter knownas Porter'sfiveforces. customers,substitute products,andindustryrivalry.

  45. 32 sl/BMBE/2016 Referencesforreading Bennis,W.(1989).OnBecoming a Leader.NewYork:AddisonWesley. Fryer,B.(2004).ThePracticeof ConstructionManagement.Bodmin, Cornwall: MPGBooksLtd. Ganaway,N. B.(2006).ConstructionBusinessManagement"Aguide to • • • Contracting Hawkes,D. Englemere, Kerzner,H. forBusinessSuccess".Oxford:Elsevier. (2011).AReportExploringSkillsin theUK ConstructionIndustry. Berkshire,UK: CharteredInstituteofBuilding (CIOB). (2009).ProjectManagement:ASystemsApproachtoPlanning, • • Scheduling,andControlling.NewYork:Wiley. Schaufelberger,J.(2009).ConstructionBusinessManagement.New Jersey: Pearson. Volpe,S.P.,&Volpe, P.J.(1991).ConstructionBusinessManagement.USA: Wiley. • • •

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