Search results

In the continuing endeavour to work towards ever better management, experience plays a crucial role. We learn from success, but we can learn much more from failure. Further, it is far better and cheaper when we learn from other people′s failures rather than our own. This monograph assesses the requirements of project management in relation to industrial projects, illustrating the factors that can result in failure by means of a series of case studies of completed and abandoned projects worldwide that have failed in one way or another. The key roles played by project planning and project cost control in meeting and overcoming the practical problems in the management of industrial projects are examined in detail. In conclusion the lessons that can be learned are evaluated and presented, so that we may listen and learn – if only we will.

In the continuing endeavour to work towards ever better management, the engineering manager has a crucial role to play. The history of the engineer is reviewed and his/her possible present role in management is considered. Management objectives are outlined and defined and the specific role of the engineer emphasised. The best managers are leaders, in particular effective leaders of teams, and this is a management task well within the grasp of the engineer. The engineer′s specific training and initial experience give him/her special qualifications in this area. Indeed, there seems to be no reason why the engineer should not climb the management ladder right to the top, especially these days when technology is continually growing in importance. The demands made on the effective chief executive are outlined. It would seem that engineering management has come of age and that with the appropriate management training the engineer should be well capable of filling a senior management role.

In the continuing endeavour to work towards ever better management, the project manager has a crucial role to play. This monograph assesses the requirements of project management in terms of training and experience, demonstrates what sort of person the project manager should be, and also the role that should be played by the project team. In order to illustrate the manner in which the essential qualities in both the project manager and his team are displayed in action a number of completed projects worldwide are reviewed. Both successful projects and disastrous projects are used to demonstrate the way in which the problems encountered in real life can be met and overcome. In conclusion both the prospects and the problems that the future may hold for the project manager are assessed.

Some of the newer techniques in managerial decision making are examined, with particular reference to those based on statistical and mathematical principles and the use of management information systems. The creativity approach in its modern form, described as lateral thinking, is reviewed. It is argued that creativity is a skill that can be learnt, like any other skill, and a process of managerial decision thinking is advocated.

The concept of company culture is now playing an ever‐increasing role in the continuing endeavour to work towards ever better company management, particularly in the industrial field. This monograph reviews the history and development of both national and company cultures, and then goes on to demonstrate the significance of a culture to proper company management. Well‐managed companies will have both a “quality culture” and a “safety culture” as well as a cultural history. However, it has to be recognised that the company culture is subject to change, and effecting this can be very difficult. Of the many national cultures, that of Japan is considered to be the most effective, as is demonstrated by the present dominance of Japan on the industrial scene. Many industrialised nations now seek to emulate the Japanese style of management, but it is not possible to copy or acquire Japan′s cultural heritage. The text is illustrated by a large number of practical examples from real life, illustrating the way in which the company culture works and can be used by management to improve company performance.

We are negotiating all the time: with customers, suppliers, trade unions, our family ‐ indeed, all with whom we come into contact. In business, in particular, negotiation needs management. There are said to be eight stages in negotiation: prepare, argue, signal, propose, present the package, bargain, close and agree. At the proposal stage one must be clear about what one must achieve, what one intends to achieve, and what one would like to achieve. The approach to constructive and competitive negotiation, the role of consultation, how to cope with deadlock and conflict, cross‐cultural negotiation, and the art of compromise are reviewed. The development and use of teams in negotiation is also an important factor, needing careful assessment. Negotiation will nearly always involve conflict, but steps must be taken to ensure that the participants remain on friendly terms.

The time dimension of a country is a key determinant of the time horizon prevalent in the business sector. The long‐term horizons of Japan compared with the short‐term horizons of the United States are integral parts of their distinct business ideologies. There is a direct impact on their respective financial practices. A comparative analysis of the financial management ideologies, practices and techniques, within the framework of time horizon, offers an explanation of Japan's inordinate economic success in the global market.

It is generally recognised and accepted that the fundamental role of a manager is “to get things done”. At times the manager has to make quick decisions about what has to be done and how. What is more, the decisions often have to be taken before all the relevant information is to hand. This is where so many fail. A good leader is prepared to make decisions on inadequate and incomplete information, realising that no decision is perfect and that an imperfect decision is far better than no decision at all. The best indication of a good leader is that people around him or her are enthusiastic and excited, preferring to work where they are than anywhere else.

The objective of the research presented in this paper is to explore the factors associated with company failures in the context of the construction industry. To that end, the four quadrants of an ‘environment/response’ matrix developed by Boyle & Desai (1991. Journal of Small Business Management, 29, 33–42) are populated with Dun and Bradstreet's US business failure data for the construction industry. The study indicates that budgetary and macroeconomic issues represent 83% of the reasons for construction company failures. This implies that firms that take vigorous administrative measures to address budgeting issues and that react promptly to economic conditions by implementing appropriate strategic policies should be able to avoid failure. On the other hand, issues of adaptability to market conditions and business issues appear to have limited effects on company survivability (6% of the reasons for failure). This implies that administrative measures to fend off internal conflicts that originate for reasons beyond management's control and long‐term strategic decisions to regulate the firm's adaptation to market conditions can also help to prevent failure. An ‘input/output’ model appears to explain the business failure phenomenon better than the ‘environment/response’ one.

Outlines UK law and practice relating to the responsibilities of directors of insolvent companies with particular reference to small firms: and explains the changes introduced by the 1985 and 1986 Insolvency Acts and the Company Directors Disqualification Act 1986. Considers the practical effects of the new law, referring to relevant cases; and stresses the psychological barriers which directors erect against facing the risk of failure and taking action to avoid it. Notes that the Insolvency Act 2000 allows directors to be disqualified without the need for costly court proceedings and makes practical suggestions on how they can protect themselves. Describes four stages of organizational crisis from denial to collapse, pointing out how managerial decision making becomes impaired in this situation and referring to relevant research. Calls for further research to “inform future legislation”.