When facing the problem of dealing with business projects that should be terminated early, a leader should consider a number of important action steps described below. First, among these steps is submitting the idea of what is to be achieved. An example of a project could be on mobile-phone-based money transfer. It means that the presentation of all the relevant information of the project is to be carried out, and all the necessary materials for its materialization (that is from development of the product to the point where all the stakeholders get its utility) are to be provided. To do so, during one week, experts should weigh out all the ideas, and come up with rational judgment (Loulakis, & McLaughlin, 2011). The project managers should clearly elaborate the idea of the project so that it might be easily understood by the panellists. They should also address all the critical issues of the project including (1) who is the target consumer of the product, (2) how to reach the consumer, and (3) whether they have presented all the basic information that is required for their project.
Secondly, during the next week, managers should analyze the strengths and opportunities that are in approaching the project, as well as the weaknesses and threats that may hinder the implementation of the project. It is important to understand that if the weaknesses and threats are not within the control of the organization, then the project will definitely fail. For evaluations, the project managers should come up with a well elaborated way of turning these threats and weaknesses into opportunities and strengths.
Thirdly, during the fourth week, a report on studies should be composed on the basis of similar projects elsewhere (Goleman, 2000). This basically aims at understanding how others have approached a similar project. It also gives an overview of various challenges that may arise in project implementation, and the process of handling these challenges. The project manager should present at least three case studies of similar projects elsewhere. This is basically to get the input from the rest in the company.
Finally, during the fifth and the sixth weeks, a rough draft on how the team proposes for the implementation of the project should be developed along with making a presentation of a final draft on the process of the implementation (Mohanty & Kar, 2012). During this stage, project managers should critic the project, and also give there input. The schedule of work should be elaborated clause by clause of every activity, and the timeline for each activity should be provided. If necessary, a company leader may request for a committee from the team to be preparing reports on the project implementation process (Goleman, 2000). Recommendations regarding Allowing Good Managers to Make Mistakes without Public Embarrassment and Enabling them Learn from their Mistakes
When facing laxities in good managers’ work, a leader may consider a number of recommendations described below.
First, a leader should appoint an implementation committee (Goleman, 2000). The committee should be ordained to prepare monthly reports on the progress of corporate stars, and an overview of the implementation of the action plan. This action step is to be exercised during the first week of working with the problem. The evaluations should attain for 100% in the implementation of the action plan. This is basically judged from the monthly reports that the committee prepares.
Secondly, the other important action task for a leader is organizing of the input from the other corporate leaders (Mohanty & Kar, 2012). This action step is exercised during the period of the first two months, when a leader works with the problem. During this period, the central objective is in analyzing the manager profiles, and organizing corporate talks and seminars. These measures aim at providing mentorship, and creating an avenue for direct interaction with the corporate stars (Mohanty & Kar, 2012). To be ultimately successful during the implementation of recommendations of this stage, a leader should book appointments with the other CEOs. The purpose of such appointments is in acquiring more experience in the area of providing assistance and mentorship to corporate stars to assist in their professional growth. The expected results of implementing the leader strategy during this week is in acquiring self confidence by good mangers, and developing their positive reputation among the other employees in the collective body (Goleman, 2000).
Finally, during the final stage of the project, aiming at assisting good managers in personal growth and acquiring self-confidence, a leader should create a workshop for evaluation of the ideas from the corporate stars (Mohanty & Kar, 2012). Also, open opportunities for them to surface their ideas should be provided. In addition, this period is the high time to admit the success of company stars, and reward the best of them, whose working results appeared to be of great significance for organizational profits and the company success.