Essential Skills for Success-Problem Solving & Decision Making, Time & Money Management in workplace and life

Essential Skills for Success- Problem Solving & Decision Making,Stress Time & Money Management in workplace & life.
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Author Name: Karthikeyan.A, MBA, Mphil, PGDPM&LL.,
Profession: Teacher(Trainer - Soft skills).

Problem Solving

Steps involved in Problem solving discussed as below,

Identify the problem

This is situation identification. Situation is from different sources such as past actions, New inventions implementation or new policy adaptations or salary/Retirement/Compensation claims. In other words, Situation of the problem is from Production side, Marketing side, Human Resource(Labour/Personnel) side, Financial side. Those problematic situations are New machinery installation, New policy in Production and work time flexibility, Product sales chain-Logistics,Supply chain and Customer interactions or Customer complaints, Labour strike,layoff,Retrenchment,Retirement or any claims from unions. These are the departmental unexpected and no solution problems for a longer time or a new problem.From the list of problems, as a problem identifier must to identify the underlined real problems for further steps.

Gathering Information.

If the problem is defined. We can go for collect data from various source such as direct questionnaire method, Indirect observation method and random collection of representatives, and also collect data through agency. Most of the time, Personal decisions and collection of data has given varied opinion.

Analyse the Information.

Once collected data are organised based on importance and also short list the data for further process. There are different modern tools and software used to analyse the data. Google sheet is the best data analyse tool to find out primary and secondary problem areas. Some other best software also utilised based on the availability and cost effectiveness.

Finding Solutions.

A number of solutions interpret. A number of solutions flashed in our brain or from problem solving teams. As a team head, We must collect all the solutions and gave a chance to present their solutions for the problem. This is a critical time to justify and find out solutions from different available solutions. But, we must gather all the solutions for scrutinize the problem as well as estimate different solutions.

Choose the best solution

This is the responsibility area for select best solution from the available different solutions.It may be wrong or right in future.Example: Inflation and depletion problems and solutions for different period from different authority.

Implementing & Analyse

A new Policy, Procedure and rules implementation is required from the best solutions for the problem. This is a hard and difficult communication spot to explain all the new adaptations and abolish the old or traditional activity.

Continuous Improvements.

Observe the implemented solutions and success rate.

Problem solving is a long term and continuous process, but Decision making is a sudden, immediate, Spantaneous and traitful decision for the current situation.

Essential skills for success in workplace & life.

  1. Stress Management.
  2. Problem solving
  3. Decision making
  4. Time management
  5. Money management.

Stress management.

Imbalances between human demands and available resources. creates stress.

Acute Stress:

This is a short term stress.This is a mild stress.It gives success and achievements.

Chronic stress

This type of Stress creates more changes in human characters. This type of stress occurs more for females than males.

Causes of diseases, Conflicts and fights,Problems,memory loss,decreased food consumption,sleeping disorder

Types of Stress.

There are two types of Stress.1.Good stress, 2. Bad Stress.

Good stress

Good stress is also called as EUSTRESS. This is identified by Hans selye.

Good stress gives Good health and Peaceful life.

Bad stress

Bad stress is also called as distress.It created through the way of Job insecurity,Excessive job work, Lack of Training & Travels.This type of stress creates anxiety,Blood pressure.

cortisol harmone induced and created from distress or negative stress or Bad stress.

Coping strategies to reduce stress

Way 1:Self care(reading, relax, bath, sleep on time, music),Financial(budget,savings,paid bills,no spend days,weeks) Healthy exercise,Daily task(Food, cloth, plant observe),Personal development(written goals),Relationships.

Way 2: Yoga,Meditation,Physical Exercise.Breathing Practices,Talk with friends,Talk with Parents. ,Good sleep.

Time Management

Time is not the main thing. It’s the only thing.
Miles Davis.

TIME MANAGEMENT IMPORTANCE

For Achievements, For Success in Life, Stress reduction, Create free time.

TIME MANAGEMENT PRACTICE.

POMODORO TECHNIQUE.

Decide the task to be done

Set the timer to 25 minutes

Work on the task until the timer rings

Take a short 5 minutes break.

Move on to the next task

After 4 sprints , Take a longer break (15 to 30 minutes)

Start again the task until finish the task.

TIME MANAGEMENT PRACTICE.

Routine habits has changed behavior well with the usage of Time Management.

GOOD HABITS

BAD HABITS

Write your good and bad habits for 21 days, after then You can notice the result of Increase the good habits and reduce the bad habits. ,After 21st day, Characters has changed good.

Money Management.

Saving, Investment and Expenditure management is called Money Management.There are different practices adopted to plan Organise and control the Financial activities. Those methods are discussed step by step,

MONEY MANAGEMENT importance

Future requirements.

Emergency time.

Economical downturn time.

Achievement of Goals.

No debt.

MONEY MANAGEMENT TECHNIQUE-1

First Priority- Basic Needs.EX: Thunder of water .

Second Priority- Additonal needs and wants.EX: Requirement of COFFEE

Last Priority- This is a luxury needs and wants. It creates more expenses. It has more and more positive and negative sides. EX: Desire to buy luxury car.

MONEY MANAGEMENT TECHNIQUE-2

INCOME

FIXED INCOME.(Static)

FIXED INCOME.(Static):Salary, Interest

VARIABLE INCOME.(Varied):Profits , Interest, Policy funds.

EXPENDITURE

1.FIXED EXPENDITURE.(static)

House rent, Groceries, Fuels, Fees, Bills.

2.VARIABLE EXPENDITURE.(Varied)

Medicines, Gifts, Loans.

MONEY MANAGEMENT TECHNIQUE-3

Spending : Spend money as per requirements.

Saving:Save money sa much as possible.

Investing

Starts to invest in good return schemes.

INVESTMENT PLACES:

BANKS

INSURANCE

MUTUAL FUNDS

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