By Dada Adefolami
Socio-economic development is the process ofsocial and economic development in a society. Socio-economic development is measured with indicators, such as GDP, life expectancy, literacy and levels of employment.
You will know that Management comes in many forms, the need to consider management by objectives, motivation, organizational transformation and corporate governance. Therefore, Government and Organization will encourage and empower citizenship
A social economy is a third sector among economies between the private (business) and public sectors (government). It includes organizations such as cooperatives, nonprofit organizations, social enterprises and charities. Social economy theory attempts to situate these organizations into a broader political economic context
Management by objectives (MBO)
Is a way of dealing with the age-old problem of delegation: most managers – especially newly promoted ones – struggle with leaving subordinates to get on with things and try to do it all themselves. One of the economic points of leadership is to leverage the more ‘drone-like’ resources of staff with lesser skills by giving them guiding frameworks of what they are setting out to achieve. Poor delegation means the job is done twice – and by a more expensive resource.
MBO supports delegation by setting a more global sense of direction while leaving it up to staff to sort out the minutiae of how they do the work. It is linked with the idea of empowerment, with decisions being taken lower down the organization.
MBO could be defined as ‘setting a clear direction and aims without necessarily predetermining how that will be achieved and delegating much of the responsibility for making the ‘how’ decision’.
Empowerment is about encouragement wherever possible to be proactive and creative and solve problems with support and coaching from above, rather than just waiting to be told what to do.
Management by objectives was popularized by management expert Peter Drucker decades ago. His idea has the virtues of relevance and simplicity, and helps combat micromanagement. Its relevance can be observed frequently in everyday management situations.
One of the key jobs of an MBO leadership is thus to set objectives and to coach staff to achieve them, like a football manager, rather than dictating exactly how the ball should be kicked.
Motivation Step
Motivation is another key leadership function. It can be defined in a management context as ‘the innate and socialized drives that influence determined behaviour to achieve goals’.
The definition can be unpacked as follows:
1. Innate: in part, the drives are instinctive
2. Socialized: the drives reflect the desire to belong to a wider group, and the need for status and achievement
3. Drives: they are part-conscious and part-unconscious.
Motivation is about understanding how people tick. Implicit is the thought that managers somehow should have to influence staff to put themselves out so they produce over and above the minimum needed to get by. The idea has spawned a whole literature that appears to be dedicated to brainwashing people to stretch themselves.
However, ‘There are lots of people who show up every day and try to do the minimum: why stretch yourself?’
The manipulative element in the motivation model doesn’t quite come off as most organizations operate in competitive environments. Where employees in the aggregate are competitive, then the whole organization is better off: more growth, opportunity, choice, money and security.
If we were to accept that high motivation was probably a good thing, then how might we go about promoting it?
The main motivation levers are:
1. performance management
2. rewards and recognition
3. incentives, bonuses and perks
4. training and coaching
5. having a manager who is a great leader
6. working conditions
7. manageable stress levels and good support
8. a ‘feel-good’ organization and culture – very important
9. a sense of vision, strategy and purpose.
The main demotivation levers are:
1. perception that the company is mean
2. lack of positive feedback
3. too much negative feedback
4. insecurity
5. perception of unfairness
6. the wrong kind of politics
7. threats and bullying
8. the organization is failing or has messed up – especially if its reputation is tarnished.
Abraham Maslow of his theories in 1943 split these motivational factors up into a ‘hierarchy of needs’, the implication being that if the most basic requirements are not met, such as physical comfort and safety, then there is little interest in aspects that are more about higher things like ‘self-actualization’.
In 1959 Frederick Hertzberg introduced ‘motivator-hygiene factors’ to the model. This two-factor theory saw job satisfaction and job dissatisfaction acting independently of each other. A motivator factor is something that is a distinctive turn-on e g, recognition, responsibility while a hygiene factor is something which doesn’t turn your motivation on but is a big turn-off if not present e g, job security, fringe benefits.
Organization development (OD) is a field of research, theory and practice dedicated to expanding the knowledge and effectiveness of people to accomplish more successful organizational change and performance. OD emerged out of human relations studies in the 1930s, during which psychologists realized that organizational structures and processes influence worker behavior and motivation
Organizational transformation
Organizational transformation is another name of called strategic change and before that, managing change.
Strategic change is the evolution of an organization’s strategy, structure and culture to respond to its environment.
Organizational transformation would be defining as ‘a dynamic evolution of the organizational model such that over a period its character has undergone a tangible shift; even though many of its fundamental capabilities have not changed, they might now be applied to doing things in new ways’.
It is more internally focused than the idea of strategic change and is positioned somewhere between more incremental change and more radical or revolutionary change, at least in terms of meaning.
These are subtle differences but they are valid. Transformational change requires visionary leadership, which in turn implies the need for transformational leadership – a term that can be traced all the way back to Bernard Bass in 1978.
Transformational leadership can be defined as ‘leadership which seeks to inspire and fundamentally reshape the performance of staff by looking at all aspects of organizational capability, structure, behaviour and mindsets, and reshaping that’.
These are grand words and most managers may not have a clue about how that could be accomplished. A lot of this isn’t about complicated analysis but about how you state the obvious about where you are going, where you are now, what the gap is and how you are going to get across it. Yes, we are back where we started sometime or so ago – strategy.
It is also about having an overall map of all the key change projects and how and when they will fit together to deliver that strategy. Finally, it is about having a very real sense of the people issues and how you come over when you are having these deep conversations with people.
Transformational leadership is a style of leadership where the leader works with employees to identify the needed change, creating a vision to guide the change through inspiration, and executing the change in tandem with committed members of the
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