Setting goals is a fundamental aspect of leadership. However, it can often be challenging for leaders and managers. Understanding the difference between SMART goals and smart objectives is crucial. While they are similar, they serve different purposes. Generally, goals are long-term aspirations, while objectives are short-term targets. Both, however, should adhere to the SMART criteria. What Are SMART Goals? A SMART goal is defined by five key characteristics: Specific : The goal must clearly define what is to be achieved. It should describe an observable action, behavior, or achievement linked to a rate, number, percentage, or frequency. Measurable : There must be a method in place for tracking and recording the specific action or achievement. This allows for assessment of progress. Achievable : Goals should be set in a way that individuals or teams can realistically achieve them. Realistic/Relevant : The objective should be seen as important by those involved and something they can influence or change. Time-related : A specific date or time frame should be established for achieving the goal. For example, consider a construction company aiming to build a new home. While this is a goal, it lacks specificity. See Figure 1.1. Specific Measurable Assignable Realistic/Relevant Time-Related Single unit, one story home 2,000 sq/ft 1 acre of land XYZ Construction Co. Yes, will provide shelter to a homeless family Completed within 12 months from start date Figure 1.1: Example of a SMART Goal for a Construction Company The Importance of Specificity in Goals A clear and intentional goal provides all stakeholders with the information they need to succeed. In our construction example, the company must specify whether it will build a single-unit home, multi-family dwelling, townhouse, or condo. The measurable aspect could include the square footage on one acre of land. This goal is assignable to XYZ Construction Company, realistic for its intended purpose, and time-related, as it requires completion within one year. Stakeholders immediately understand that a new 3-bedroom, 2-bathroom home is expected to be built within 12 months. They also know it will not be a multi-family unit, townhouse, or condominium, but rather a one-story, single-unit home constructed by XYZ Construction Company. If issues arise, such as delays, builders are aware of the specific deadline they must meet to avoid additional charges. Establishing SMART goals allows stakeholders to quickly assess their alignment with the intended objective. The Role of Leaders in Setting SMART Goals Organizational leaders and managers play a critical role in setting SMART goals and objectives. They establish the tone for all actions and decisions within the organization. These goals should be implemented at all management levels and across various departments. SMART goals serve as a management tool, guiding stakeholders when conflicts or opportunities arise, whether related to market conditions, customer needs, or supplier relationships. Conclusion: The Path to Effective Goal Setting In conclusion, setting goals without a means to verify progress can lead to ambiguity. By breaking down goals into specific, measurable components, leaders and managers can make informed decisions about the organization's direction. This structured approach not only clarifies expectations but also enhances accountability and performance across the board. Additional Resources For further insights into effective goal setting, consider exploring resources on project management and leadership strategies. Understanding the nuances of SMART goals can significantly impact organizational success. References Zutter, S. B. (2019). Principles of Managerial Finance, 15th edition. New York, NY: Pearson. Meet Nikia Smith , Director of Project Management Office (PMO), driving success at Business and Wealth Generations. With over a decade of advisory expertise, Nikia orchestrates strategy and operations, spearheading growth and innovation. Beyond his professional endeavors, Nikia actively participates in his community, having served on the Board of Directors at the Project Management Institute Florida Suncoast Chapter in different roles for several years. Recognized for his contributions, he received the PMI Florida Suncoast Chapter Award in 2018 for significantly boosting membership and retention and was also selected to attend the 2019 PMI North America Leadership Institute Meeting in Philadelphia. Nikia holds a bachelor’s degree in management and organizational leadership with a focus on Project Management, alongside several business certificates from St. Petersburg College. He is also certified in CAPM and PMP by the prestigious Project Management Institute. For collaboration opportunities, reach out to Nikia at info@thebusinesswg.com .

Leaders conducting on a strategy planning session Strategic planning, in short, is just another name for envisioning ahead. While most business professionals have a conceptual idea, not many possess that conceptual idea on paper. Strategic planning is an organization’s process of defining where and how it would like to be positioned in the future (PM Best Practices). Strategic planning is where all of an entrepreneur’s or organization’s business ideas are vetted and filtered to align with the organization and its functional areas (marketing, operations, finance, etc.). In general, these plans put a laser-focus on an organization’s vision, mission, values and now social consciousness. A good strategic plan should be able to be translated into an actionable plan, or action plan. The action plan is (or should be) designed to further the strategic goals towards completion with the satisfaction of the individual or organization using the plan. At the business management level (operations), Determining the decision-making process is critical when determining the projects that your organization will embark on. References Meet Nikia Smith , the Director of Project Management Office (PMO), driving success at Business and Wealth Generations. With over a decade of advisory expertise, Nikia orchestrates strategy and operations, spearheading growth and innovation. Beyond his professional endeavors, Nikia actively participates in his community, having served on the Board of Directors at the Project Management Institute Florida Suncoast Chapter in different roles for several years. Recognized for his contributions, he received the PMI Florida Suncoast Chapter Award in 2018 for significantly boosting membership and retention and was also selected to attend the 2019 PMI North America Leadership Institute Meeting in Philadelphia. Nikia holds a bachelor’s degree in management and organizational leadership with a focus on Project Management, alongside several business certificates from St. Petersburg College. He is also certified in CAPM and PMP by the prestigious Project Management Institute. For collaboration opportunities, reach out to Nikia at info@thebusinesswg.com .

Project manager and team members celebrating a challenging milestone. In order to understand what a project manager does, one must first understand what project management is then understand who a project manager is. There is a separation from what project management is versus what operations management is. While they are similar, they are totally different. In nutshell, project managers are responsible for ensuring a client’s requests are met on time and on budget. Easy to say, much harder to execute. Project Managers  are organized, goal-oriented professionals who use innovation, creativity, and collaboration to lead projects that make an impact.   “Project Managers equip their teams with the tools to succeed and evolve through projects. And they use various project management skills to do so, including: Leadership and adaptability Organization and time management Creative problem-solving Effective communication Motivation and team management” (What is a Project Manager?, 2025) Figure 1 - The PMI Talent Triangle It is a meticulous, sometimes tedious, time-consuming, critical thinking, stressful, financially rewarding profession.   References Gray, E. W. (2014). Project Management: The Managerial Process, Sixth Edition.  New York City: McGraw-Hill Education. Project Management Offices: A Practice Guide.  (2025). Newtown Square: Project Management Institute, Inc. The Standard for Project Management and A Guide To The Project Management Body of Knowledge (PMBOK Guide). Eighth Edition.  (2025). Newtown Square, Pennsylvania: Project Management Institute. What is a Project Manager?  (2025, December 31). Retrieved from Project Management Institute: https://www.pmi.org/about/what-is-a-project-manager      Meet Nikia Smith , the Director of Project Management Office (PMO), driving success at Business and Wealth Generations. With over a decade of advisory expertise, Nikia orchestrates strategy and operations, spearheading growth and innovation. Beyond his professional endeavors, Nikia actively participates in his community, having served on the Board of Directors at the Project Management Institute Florida Suncoast Chapter in different roles for several years. Recognized for his contributions, he received the PMI Florida Suncoast Chapter Award in 2018 for significantly boosting membership and retention and was also selected to attend the 2019 PMI North America Leadership Institute Meeting in Philadelphia. Nikia holds a bachelor’s degree in management and organizational leadership with a focus on Project Management, alongside several business certificates from St. Petersburg College. He is also certified in CAPM and PMP by the prestigious Project Management Institute. For collaboration opportunities, reach out to Nikia at info@thebusinesswg.com .

The Importance of Project and Operations Management For starters, project and operations management are not the only management applications experienced in organizations. Portfolio and program management are among others. See Figure 1.1 Relationship Between Strategy, Portfolio Management, Program Management, Project Management, Operations Management, and Business Value. Our focus is on project and operations management. It is important to note right off the bat that one is not better or more important than the other. The truth is, they need each other. Even though the argument can be made that they both can hold their own in their respective management disciplines, their collaboration is crucial. Figure 1.1. Relationship Between Strategy, Portfolio Management, Program Management, Project Management, Operations Management, and Business Value. Defining Project Management To understand project management, we must first define what a project is. A project is “a temporary endeavor undertaken to create a unique product, service, or result” (A Guide to the Project Management Body Of Knowledge (PMBOK Guide), Sixth Edition., 2017, p. 4). In short, there must be a starting point and an end point. This is distinct and different from something that is ongoing, like operations. “Project management is the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements” (A Guide to the Project Management Body Of Knowledge (PMBOK Guide), Sixth Edition., 2017, p. 10). Project management brings an idea to life in a deliberate and concerted fashion. It aims to deliver value in the shortest amount of time at the lowest possible cost in an integrated, systematic way. Project management is not just an application of knowledge, skills, tools, and techniques; it is also a strategic competency. Projects can be executed in the realm of portfolios, programs, or as stand-alone projects. But, by definition, they are temporary and will end. Operations management, on the other hand, “focuses on the efficient, effective production of products and/or services” (A Guide to the Project Management Body of Knowledge (PMBOK Guide)--Eighth Edition and The Standard for Project Management, 2025, p. 9). See Figure 1.2. A Basic Illustration of the Symbiotic Relationship Between Operations and Project Management. Figure 1.2. A Basic Illustration of the Symbiotic Relationship Between Project and Operations Management. The Role of Project Managers Project managers “perform a variety of functions such as facilitating the project team’s work to achieve the intended outcomes and managing the processes to bring about those outcomes in order to enable value delivery” (A Guide to the Project Management Body of Knowledge (PMBOK Guide)--Eighth Edition and The Standard for Project Management, 2025, p. 5). They are the central point of a project. Additionally, they provide oversight and collaboration, solicit and manage feedback, facilitate support, perform work, apply expertise, provide organizational direction and insight, and allocate resources to projects. Projects are temporary, dynamic, and non-routine. The Symbiotic Relationship Between Project and Operations Management Project management and operations management can work separately and independently. However, when they come together, they create a type of business value that could not be achieved if executed separately. Project and operations management should have a symbiotic relationship. They work in tandem. If all management levels of an organization collaborate to plan and execute their strategic and financial goals, the likelihood of success increases. This leads to satisfied stakeholders. Operations management ensures that the operations a business undertakes are done as accurately and quickly as possible while meeting customer demands. It is defined as "activities that relate to the creation of goods and services through the transformation of inputs to outputs" (Jay Heizer, 2017, p. 4). Operations are continuous, not dynamic, and are routine. Operations managers perform the basic functions of the management process: planning, organizing, staffing, leading, and controlling towards the ten (10) operations management decisions they must make. Ten Strategic Operations Management Decisions According to Jay Heizer (2017, p. 8), the ten strategic operations management decisions are: Design of goods and services Managing quality Process and capacity strategy Location strategy Layout strategy Human resources and job design Supply chain management Inventory management Scheduling 10. Maintenance Integrating Project and Operations Management Tying the two together, if an idea is conceived, it is planned and executed at the project level before it is considered successful and passed on to operations. This ensures that the necessary resources are optimally utilized to maintain the expectations and results of the project. An impactful, goal-oriented organization has less chance of achieving its objectives without an appropriate level of both project and operations management. It is becoming increasingly necessary for organizations to enable change and business value through projects. Operations management helps sustain or “finish” what projects have started. Change is not going anywhere. In fact, change is accelerating at a quick pace. Project managers, often seen as change makers, are a starting point for organizations to begin their pivots to embrace change effectively. Meanwhile, operations managers align the aforementioned operations management decisions with the project and the business value generated from the project(s). In summary, project and operations managers working collaboratively and effectively can develop competencies for an organization. This leads to a higher success rate of initiatives, improved value delivery, and better returns. Conclusion In conclusion, understanding the relationship between project and operations management is essential for any organization aiming for success. The integration of both disciplines not only enhances efficiency but also drives innovation and growth. By fostering collaboration between project and operations managers, organizations can navigate the complexities of change and achieve their strategic goals more effectively. References A Guide to the Project Management Body Of Knowledge (PMBOK Guide), Sixth Edition. (2017). Newtown Square: Project Management Institute, Inc. A Guide to the Project Management Body of Knowledge (PMBOK Guide)--Eighth Edition and The Standard for Project Management. (2025). Newtown Square: Project Management Institute, Inc. Jay Heizer, B. R. (2017). Operations Management: Sustainability and Supply Chain Management, Twelfth Edition. Pearson. Project Management Offices: A Practice Guide. (2025). Newtown Square: Project Management Institute, Inc. Meet Nikia Smith , Director of Project Management Office (PMO), driving success at Business and Wealth Generations. With over a decade of advisory expertise, Nikia orchestrates strategy and operations, spearheading growth and innovation. Beyond his professional endeavors, Nikia actively participates in his community, having served on the Board of Directors at the Project Management Institute Florida Suncoast Chapter in different roles for several years. Recognized for his contributions, he received the PMI Florida Suncoast Chapter Award in 2018 for significantly boosting membership and retention and was also selected to attend the 2019 PMI North America Leadership Institute Meeting in Philadelphia. Nikia holds a bachelor’s degree in management and organizational leadership with a focus on Project Management, alongside several business certificates from St. Petersburg College. He is also certified in CAPM and PMP by the prestigious Project Management Institute. For collaboration opportunities, reach out to Nikia at info@thebusinesswg.com .

Credit cards can be an effective financial tool to creating, building, and sustaining income and wealth. Of course, there are pros and cons to every financial opportunity but if an individual or organization can leverage their allotted credit limit that is suitable for their financial situation there can be an immediate increase of cash! Now, what is done with the increased amount of cash is another story. General, more talked about, information is the known principle of keeping your spending rate less than 30% of credit limit per credit card. Behind the Market.  More than 30% pay down their credit card balances only to make charges soon after. This is a no-no. It is best if the individual or organization can pay off the credit card balance until they have saved, in cash, the exact amount of the possible credit limit. With the Market.  Using your personal credit card or your organization's credit card at the beginning of the billing cycle but paying less than 100% of the charged balance will allow increased use of cash. Financial diligence is needed to remain liquid and financially positioned to partially cover the billing cycle's charges. Ahead of the Market. Paying off the entire credit card balance before the end of each billing cycle creates a good track record for you and tells creditors great things about your financial practices. You are able to pay what you borrow! Chances are when you need funds you will have immediate access to your credit limit and the credit limit (ceiling) may also be increased! It's a "win-win" situation. If/when your credit limit is increased, you will be able to increase your 30% credit spending rate for the particular credit card(s). This is a tough strategy but very much worth it. The last key piece is to replenish the credit limit amount or do not make any future charges until you have the equal amount of your credit limit in cash. Having credit cards (or credit) is about having leverage. Increasing your savings accounts even by minimal amounts will help you "retain your earnings" while you leverage for a better financial position to make asset purchases, pay expenses, and invest. Meet Nikia Smith , Director of Project Management Office (PMO), driving success at Business and Wealth Generations. With over a decade of advisory expertise, Nikia orchestrates strategy and operations, spearheading growth and innovation. Beyond his professional endeavors, Nikia actively participates in his community, having served on the Board of Directors at the Project Management Institute Florida Suncoast Chapter in different roles for several years. Recognized for his contributions, he received the PMI Florida Suncoast Chapter Award in 2018 for significantly boosting membership and retention and was also selected to attend the 2019 PMI North America Leadership Institute Meeting in Philadelphia. Nikia holds a bachelor’s degree in management and organizational leadership with a focus on Project Management, alongside several business certificates from St. Petersburg College. He is also certified in CAPM and PMP by the prestigious Project Management Institute. For collaboration opportunities, reach out to Nikia at info@thebusinesswg.com .

Have you ever felt like when you take a step or put a foot forward, you move two or more steps backward? Most of us have experienced financial hardships a time or two in our lives or in our businesses. And we also all have experienced getting out of a financial rut, so to speak. But falling back into a financial hardship can be devastating, frustrating, and depressing. So, what can you do to help cut down on how many times these financial hardships occur? There are a few financial concepts and principles that you can learn to help you professionally, as well as personally, as you restructure for a better financial position! Credit Rating. Limiting your overall debt (risk) to less than 30% of your total assets will certainly give your credit score a boost. The further decrease in overall debt that an individual or organization goes, percentage-wise, the better. Increased investments in income-generating assets with higher returns than you or your organization's cost of capital will create long-term value, income, and a competitive advantage (professional or personal). If you can pay debt down to 20% or less, chances are you will enjoy favorable credit ratings and scores. Return On Equity. Equity isn't just the stock market. Retained earnings is equity. So, an organization can increase their ROE by keeping their income (earnings) in the business from period-to-period. Whether it is on a week-to-week, month-to-month, year-to-year, etc. basis. Line-of-credit is considered equity too....until is used....then it becomes a liability (debt). However, maintaining and increasing equity can help an individual or organization improve their purchasing power. Some organizations use the strategy of building up there equity so it can be used to address any debt, minimizing the need to use cash-on-hand. Little to No Debt . All debt is not bad debt. Good debt exists too. When a situation prevents an individual or organization from satisfying their debt obligations, then paying down debt with low principal amounts and/or high interest rates becomes an effective financial strategy. This approach can be applied to loans as well as credit cards. As mentioned earlier, credit card balances are a form of debt as the credit card holder is responsible to pay off their balance(s) from use of the line-of-credit. In some cases, good management that seeks low-interest rates and low principal debt can be just as good as no debt at all. Hence, good debt! Increasing Income (Revenues).  This can be TOUGH. While it is easy to say, it is a challenge in practice. Why? Because to increase income there are several things that could happen. An increase in sales (revenues) must occur. To increase sales, it is best if an organization has competence in their operations or their product/service offerings. Another tried and true method is cutting expenses. Cutting expenses leaves income on the table. These things can happen in sequence, simultaneously, or independently. Interest income derived from compounding interest is also another form of (increasing) income. Good savings account management habits allows from the accrual of compounding interest to contribute to higher savings amount which can be used or invested at any time. Regular, consistent deposits. Weekly deposits will allow an organization to position themselves effectively with creditors. A general rule of thumb is to deposit at least twice per week. But, the more the merrier. In providing access to equity and debt capital, creditors love to see money being earned and deposited. For the performing organization, it shows commitment to increasing assets, which in turn, allows their retained earnings to increase on a stable or upwards trend. Withdrawals and increasing expenses, for sure, lets a creditor or investor see that the organization’s income is inconsistent, or their operations are not efficient. And, in their eyes in some cases, means financially unsustainable. Making sure your financial position is a competitive advantage is critical to your professional and personal success! Be wise, be cautious, be intentional about repositioning or restructuring for a better financial position! Meet Nikia Smith , Director of Project Management Office (PMO), driving success at Business and Wealth Generations. With over a decade of advisory expertise, Nikia orchestrates strategy and operations, spearheading growth and innovation. Beyond his professional endeavors, Nikia actively participates in his community, having served on the Board of Directors at the Project Management Institute Florida Suncoast Chapter in different roles for several years. Recognized for his contributions, he received the PMI Florida Suncoast Chapter Award in 2018 for significantly boosting membership and retention and was also selected to attend the 2019 PMI North America Leadership Institute Meeting in Philadelphia. Nikia holds a bachelor’s degree in management and organizational leadership with a focus on Project Management, alongside several business certificates from St. Petersburg College. He is also certified in CAPM and PMP by the prestigious Project Management Institute. For collaboration opportunities, reach out to Nikia at info@thebusinesswg.com .

Leaders and managers set the stage for their organizations during the strategic management process. As Benjamin Franklin once said, “If you fail to plan, you plan to fail.” But having a plan in place does not mean that there aren’t areas of concern. Areas of concern can live in your mind rent-free, not just professionally but from a personal point of view as well. Leaving areas of concern in one’s mind can become complex and get complicated, if it goes unchecked and undocumented. An effective method to address or “check” these areas of concern is to create a “worry list”. Yes, that is correct. In simple terms, make a "worry list". After leaders and managers develop or refine their vision, mission statement, objectives, and strategy, naturally they think about relevant scenarios or obstacles that may hinder their pursuit towards their stated vision, mission statement, and objectives. Compiling a “worry list” that sets forth the strategic issues and problems a company faces should embrace such language as “how to…”, “whether to…”, and “what to do about…”. The purpose of compiling a worry list is to create an agenda of items that need to be addressed in crafting a set of strategic actions that fit the company’s overall situation (Thompson, 2020-2021, p. 98). There are several methods a leader or manager can approach the task of creating a worry list. During this discussion, we will focus on the most effective method by means of focusing on the organization’s internal and external environments. This information can be derived from the SW OT analysis, or the o pportunities and t hreats. Getting a good understanding of what obstacles or competitive challenges stand in the way, figuring out the organization’s problems or shortcomings that need to be addressed, determining which of the obstacles or competitive challenges block the organization’s ability to improve their competitive position in the market and boosting their financial performance, establishing relevant combination of strategic actions that will offer and position the organization in the best path to competitive advantage, and analyzing exactly what specific problems or issues warrant first priority attention by leadership developing strategic actions in the future. Each level of management has a role to play in ensuring that all of these align with the organization’s vision, mission statement, and objectives. This is important to designing a strategy that best fits and moves everyone towards the vision of the organization. It is further stated, "a strategy is neither complete nor well matched to the company's situation unless it contains actions and initiatives to address each issue or problem on the "worry list" (p. 98).   What does a “worry list” look like then? See one example of a "worry list" shown in Figure A  below.   Figure A. Example - Worry List for XYG, LLC Bear in mind, there’s no right or wrong way to design or refine a "worry list". Worry lists can be developed in a Word document, a slide presentation, on a whiteboard, on a department's bulletin, or using other software and methods. The key is to make it simple and clear as if someone new reviewing the list can understand it. They can be simple, or detailed. I would not recommend it becoming so complex to where a good strategy cannot be formulated. In other words, you don’t want to worry about the “worry list”. The "worry list" should serve as a reference for leaders or managers to help prevent a strategy from going off course. And, if or when it does, they can look to the "worry list" for redirection or guidance.   So, when crafting a "worry list" think about as many potential areas of concern or scenarios as possible. It is better to identify and document early-on or as the strategy is executed it provides more or better information that can be addressed. As a result, leadership can focus on the task at-hand and be sure they have captured what needs to be addressed to ensure the strategy is not off course or can get back on track. It does not serve a leader or manager to constantly think about the same thing if or when they have already identified the root issue. During the upcoming strategic planning session, whatever needs to be addressed can be addressed with the appropriate solution(s). This is a useful tool for both professional and personal scenarios. References Thompson, A. A. (2020-2021). Strategy: Core Concepts and Analytical Approaches, 6th Edition. McGraw-Hill Education. Meet Nikia Smith , Director of Project Management Office (PMO), driving success at Business and Wealth Generations. With over a decade of advisory expertise, Nikia orchestrates strategy and operations, spearheading growth and innovation. Beyond his professional endeavors, Nikia actively participates in his community, having served on the Board of Directors at the Project Management Institute Florida Suncoast Chapter in different roles for several years. Recognized for his contributions, he received the PMI Florida Suncoast Chapter Award in 2018 for significantly boosting membership and retention and was also selected to attend the 2019 PMI North America Leadership Institute Meeting in Philadelphia. Nikia holds a bachelor’s degree in management and organizational leadership with a focus on Project Management, alongside several business certificates from St. Petersburg College. He is also certified in CAPM and PMP by the prestigious Project Management Institute. For collaboration opportunities, reach out to Nikia at info@thebusinesswg.com .

Quality is the ability of a product or service to meet customer needs (Jay Heizer, 2017, p. 217). There are costs associated with quality. Costs associated with quality are broken up into four categories. These costs are the cost of quality (COQ) and they reflect prevention costs, appraisal costs, internal failure costs, and external failure costs. Prevention costs  are the costs associated with ensuring staff is well-trained and educated on the policies and procedures of the organization and its relevant processes. These costs are geared towards reducing the potential for defective services or parts. It is better to invite the production department to the meeting at the beginning of an initiative or project so they can provide their valuable, front-line input than to not invite them and provide no input. Staff should be empowered to provide their knowledge and expert advice on their craft. Appraisal costs  are the costs associated with testing, hiring of evaluators and inspectors. These costs are related to evaluating products, processes, parts, and services. In the construction field, developers routinely run into appraisal costs to ensure they are in compliance with regulatory requirements. Internal failure costs  are costs associated with rework, downtime, and scrap. These costs come from defective parts or services before delivery to the customer. A pizza delivery service may notice that the pizza a customer ordered is not what the delivery driver has on-hand. This may cause the correct pizza to be re-made, causing rework. External failure costs  are that occur after deliver of defective parts of services to the customer. This can be returned merchandise at a local retail store for defective clothing. This can also be a liability issue, which in some cases lead to court litigation. For example, a restaurant can serve customers food that contains salmonella or the customer may receive their dish with hair in their food. The customer received their service or product but it was faulty. Stakeholders in the quality management field believe that the cost of quality is only a fraction of the benefits. What Philosopher Philip B. Crosby meant when he stated, “What costs money are the unquality things – all the actions that involve not doing it right the first time” , is that quality is free (Jay Heizer, 2017, p. 219). How does an organization know if they are designing quality accurately? They should define their scope so that a quality can be measured and conformed to the stated requirements. Requirements are scope. Quality is an extension of scope. Quality must meet the customer’s needs, or their scope of requirements. With that in mind, it is good management and fiscally responsible to apply preventive and appraisal measures prior to the delivery of the product or service.   Although costs from quality can be wide-ranging, the organization’s reputation is at stake. The service or product should be well enough to meet the customer’s needs or ‘be able to sell itself’ without a need to be marketed. This is the point where the benefits outweigh the costs of poor quality. Product liability can be on the hook for faulty products or services that are liable for damages or harm resulting from their use. Global implications also play a role in an organization and its costs. Price expectations, the perception of what quality is, and design may be a standard in the United States but may not be the same in another country. The need for management to accept responsibility for building good systems, improving quality through top-management commitment, support, and involvement in quality efforts; integrated processes for cross-functional teamwork; and improving the cost of poor quality are different aspects of thought-leadership several philosophers have believed in and put into business practice. Improving quality by lowering rework, lowering warranty costs, and increased productivity can reduce costs over time. Quality can also be improved by improving response (delivery) time, reputation, and incorporating flexible pricing options for the organization’s customer base. Self-promotion is not a substitute for quality products (Jay Heizer, 2017, p. 17). Performing one task or the other will improve profits, but performing both at the same time can compound positive outcomes of improved quality! References Jay Heizer, B. R. (2017). Operations Management: Sustainability and Supply Chain Management, 12th Edition.  Pearson.   Meet Nikia Smith , Director of Project Management Office (PMO), driving success at Business and Wealth Generations. With over a decade of advisory expertise, Nikia orchestrates strategy and operations, spearheading growth and innovation. Beyond his professional endeavors, Nikia actively participates in his community, having served on the Board of Directors at the Project Management Institute Florida Suncoast Chapter in different roles for several years. Recognized for his contributions, he received the PMI Florida Suncoast Chapter Award in 2018 for significantly boosting membership and retention and was also selected to attend the 2019 PMI North America Leadership Institute Meeting in Philadelphia. Nikia holds a bachelor’s degree in management and organizational leadership with a focus on Project Management, alongside several business certificates from St. Petersburg College. He is also certified in CAPM and PMP by the prestigious Project Management Institute. For collaboration opportunities, reach out to Nikia at info@thebusinesswg.com .

If you are a parent, you are an operations manager. If you oversee the bills in a home, you are an operations manager. Or if you do something as routine as driving a car, you are an operations manager. Operations are a continuous process…that involves efforts like that of a parent. Setting aside the time, nurturing with love, and using available funds to care for a child(ren). To mature and develop, a child must have the appropriate structure along with managers (parents/guardians) who encourage them to be successful in their lives. When they are not productive or trending in the right direction, their managers will guide and help them to reduce, if not, eliminate situations that do not add value to their lives. As a business leader, performing operations management can be thought of in the same way. Leadership and management that wants to increase profits and reduce expenses via efficient, targeted operations will benefit by adopting the ‘parent-child’ concept. In other words, an organization cannot operate to its full potential without three core management functions. I think of the three core functions of marketing, operations, and finance as the “time, love, and money” parent-child concept. Businesses need that tender loving care, just as children do. As recently mentioned in 3 Core Management Functions of a Sustainable Organization , they are the main management functions all organizations perform to create their goods or services and they are necessary for the organization’s survival. In this discussion, we will go a bit more in-depth and focus on one of the three central core management functions: operations management. There are ten strategic operations management decisions that an operations manager is responsible for are: 1.       Design of goods and services 2.       Managing quality 3.       Process and capacity strategy 4.       Location strategy 5.       Layout strategy 6.       Human resources and job design 7.       Supply chain management 8.       Inventory management 9.       Scheduling 10.   Maintenance (Jay Heizer, 2017, p. 8) Have you had any experience with either one of these ten decisions? Possibly more than one? Does any of these decisions remind you of something you perform at your job? If you have experience running an organization, you may have been exposed to these ten management decisions, or realities, that operations managers deal with. These decisions should be considered, evaluated, and applied favorably and effectively. Neglect can lead to missed opportunities, wasted time, frustration, aggravation, …. the whole gambit. Aspiring or current operations managers have ten major decisions to make and attempt to synchronize them in a manner that reduces costs and increases productivity. This is in addition to collaborating with the marketing and financial managers as each manager jockey for funding for resources and funding for their respective functions. For instance, an operations manager may need to increase sales to a target rate that is too high for the marketing department to maintain demand at a high level and the funding may not be approved by the finance department. Procurement managers may need to know details of the product or service when furnishing contract agreements or making purchase orders. Operations managers will have to work closely with procurement managers once the service or product has been developed and tested, so knowing what the organization can distribute within required delivery or response times becomes critical. This can sometimes be the difference between gained or lost market share. A good operations manager will develop a game plan or strategy for the function that steers the organization in a direction that leads to competitive advantage. Competitive advantage implies the creation of a system that has a unique advantage over competitors (Jay Heizer, 2017, p. 36). The key to the operations management function achieving competitive advantage is to win on cost, differentiation, and response (delivery) time. These are strategic concepts that if applied can lead to competitive advantage over competitors. The organization that provides uniqueness, are able to spread their costs, and speed up their response times can create a sustainable competitive advantage. Designing operations that beat expectations internally and externally will not go unnoticed by management and the organization’s customer base. Improving quality through continuous improvements, hiring skilled and experienced staff, compliance with requirements of the client, reducing expenses, and improving productivity can widen the gap of the sustainable competitive advantage and increase profits the organization will enjoy! Remember, all organizations need an operations function, but they may almost never be the same. Be unique. Seek differentiation. Keep your costs relative to quality of the product or service, and in line with the market.     References Jay Heizer, B. R. (2017). Operations Management: Sustainability and Supply Chain Management, 12th Edition.  Pearson. Smith, N. (2024, April 22). 3 Core Management Functions of a Sustainable Organization. Saint Petersburg, Florida, USA. Smith, N. (2024, August 3). Strategy: A Pathway to Organizational Success. Saint Petersburg, Florida, USA. Meet Nikia Smith , Director of Project Management Office (PMO), driving success at Business and Wealth Generations. With over a decade of advisory expertise, Nikia orchestrates strategy and operations, spearheading growth and innovation. Beyond his professional endeavors, Nikia actively participates in his community, having served on the Board of Directors at the Project Management Institute Florida Suncoast Chapter in different roles for several years. Recognized for his contributions, he received the PMI Florida Suncoast Chapter Award in 2018 for significantly boosting membership and retention and was also selected to attend the 2019 PMI North America Leadership Institute Meeting in Philadelphia. Nikia holds a bachelor’s degree in management and organizational leadership with a focus on Project Management, alongside several business certificates from St. Petersburg College. He is also certified in CAPM and PMP by the prestigious Project Management Institute. For collaboration opportunities, reach out to Nikia at info@thebusinesswg.com .

In order to contrast the values of leadership and followership for innovation, we need to first define and understand the two. According to Managing Innovation , the two market strategies are defined as the following: Innovation ‘leadership’ – where firms aim at being first to market, based on technological leadership. This requires a strong corporate commitment to creativity and risk taking, with close linkages both to major sources of relevant new knowledge, and to the needs and responses of customers. Innovation ‘followership’ – where firms aim at being late to market, based on imitating to competitor analysis and intelligence, to reverse engineering (i.e. testing, evaluating, and taking to pieces competitors’ products, in order to understand how they work, how they are made and why the appeal to customers), and to cost cutting and learning in manufacturing (Bessant, 2016, p. 179). In the case of innovative leadership, it can be thought of as being the true entrepreneur of a product/service by being the first to do it. Whether it be a sole proprietorship or partnership it takes a committed leader/leadership to have the confidence to take risks; whether they are opportunities (positive) or threats (negatives). Having a good risk management plan would help this type of market strategy. In the other case of innovative follower ship, it can be pictured as coming into a market late and then finding a way to capitalize on what is already out there. Capitalize by refining the product/service with a more robust competitive advantage than the originator or the last refined competitor. In each of the two strategies, one common denominator is and should always be is differentiation and low-cost product or service. If an organization can sustain those two, they will for the most part stay in the game of competition so that they can invest and reinvest to make what they are trying to be innovative with better, cheaper, and more efficient. Being able to invest or reinvest in the either of the four kinds of breakthrough areas would be of an organization’s best interest. Briefly mentioned, the four kinds of breakthrough areas are: Technological breakthrough: A new technology that ends up dominating the incumbent technology. Business model breakthrough: A new way to create value through exploitation of business opportunities. Design breakthrough: A new way to design a product without changing it profoundly. This is related to the interface between the product and the customer, which is an important factor of adoption. Process breakthrough: A new way to do things (manufacturing, logistics, value chain, etc.) (p. 181). The business model breakthrough would be the most promising as you can always tailor your business or organization to support that kind of breakthrough more frequently by positively promoting business opportunities internally and externally. References Bessant, J. (2016). Managing Innovation: Integrating Technological, Market, and Organizational Change.  John Wiley & Sons Ltd. Meet Nikia Smith , Director of Project Management Office (PMO), driving success at Business and Wealth Generations. With over a decade of advisory expertise, Nikia orchestrates strategy and operations, spearheading growth and innovation. Beyond his professional endeavors, Nikia actively participates in his community, having served on the Board of Directors at the Project Management Institute Florida Suncoast Chapter in different roles for several years. Recognized for his contributions, he received the PMI Florida Suncoast Chapter Award in 2018 for significantly boosting membership and retention and was also selected to attend the 2019 PMI North America Leadership Institute Meeting in Philadelphia. Nikia holds a bachelor’s degree in management and organizational leadership with a focus on Project Management, alongside several business certificates from St. Petersburg College. He is also certified in CAPM and PMP by the prestigious Project Management Institute. For collaboration opportunities, reach out to Nikia at info@thebusinesswg.com .

Running an organization is somewhat intuitive. There are the norms of selling, purchasing, advertising, and so on. Operating an efficient organization is not so intuitive. There are certain fundamentals that must be respected, or an organization will not survive. We’ve recently discussed finance and an organization’s overall financial health. Alongside finance, is its counterpart, strategy. In this blog, we will discuss strategy and why it is important. Strategy helps managers and leaders, organization’s senior leadership (C-level/Board) answer what the future direction of the organization should be, what the actual plan is for operating the organization and towards producing good outcomes, what performance targets (key performance indicators) they should set, and how the mission or objective will be executed. You can think of strategy as finances’ alter ego. Finance, at its worst, should support the organization’s strategy. At best, finance should increase the wealth and value of the organization’s owners and its stakeholders. Finance and strategy are ‘night and day’, so to speak, but together they display signs of good management to internal and external stakeholders of the organization. Management needs both for a successful outcome.   Figure 1.1 Good Management = Strategy + Finance   So, what is strategy? Strategy is the competitive moves and business approaches that managers employ to attract and please customers, compete successfully, pursue opportunities to grow the business, respond to changing market conditions, conduct operations, and achieve the targeted financial and market performance (Thompson, 2020, p. 2). Strategy answers the how . Crafting a strategy forces management to think about how they are going to capitalize on opportunities to grow their business, how the company will meet or beat their stated performance targets, how  they will manage each management function of the organization (sales dept., finance, marketing, etc.), how  they will beat rivals or compete with them, how to address business and financial decisions based on the ever-changing market and economic conditions in the best way, how  to position the organization in the market in relation to competitors, and how  the organization will attract and satisfy its customer base. Strategic plans are the plans that management departments or managers craft their operational plans around. Marketing develops a marketing plan that supports the marketing components that address all marketing aspects of the strategy. This is applied to each management function of the organization: finance, human resources, etc. Managers and leaders document their strategies in several ways. Analyses such as the commonly referred SWOT analysis are used to craft strategies. Visual maps are an effective method. Strategy maps is the simplest method. Management will develop a strategic plan or even hire a consulting or advisory firm to facilitate their strategic efforts. But, why is strategy important? It allows managers to be intentional towards their strategic and financial goals. A good, effective strategy shows a pathway to success…that can be measured and tracked for performance. In conclusion, a strategy without a finance component is simply an idea (or a dream). And financing without an established strategy to achieve an organization’s performance targets can cause unnecessary spending, low profit margins, low employee morale, and/or a host of other problems. Successful leaders and managers monitor these financial and strategic targets on a weekly basis, to ensure the organization or division are on track to meet or beat quarterly performance targets during each quarter, or annually, for strategic and financial strategies to ensure the organization are pace to achieve the organization’s overall goals.   References Thompson, A. A. (2020). Strategy: Core Concepts and Analytical Approaches, 6th Edition.  McGraw-Hill Education.   Meet Nikia Smith , Director of Project Management Office (PMO), driving success at Business and Wealth Generations. With over a decade of advisory expertise, Nikia orchestrates strategy and operations, spearheading growth and innovation. Beyond his professional endeavors, Nikia actively participates in his community, having served on the Board of Directors at the Project Management Institute Florida Suncoast Chapter in different roles for several years. Recognized for his contributions, he received the PMI Florida Suncoast Chapter Award in 2018 for significantly boosting membership and retention and was also selected to attend the 2019 PMI North America Leadership Institute Meeting in Philadelphia. Nikia holds a bachelor’s degree in management and organizational leadership with a focus on Project Management, alongside several business certificates from St. Petersburg College. He is also certified in CAPM and PMP by the prestigious Project Management Institute. For collaboration opportunities, reach out to Nikia at info@thebusinesswg.com .

Have you ever thought of something, and it slipped out of your mouth before you could stop yourself? Sent an email to a boss or colleague or a text message to a family member or friend that may have been delivered differently if a little bit more thought or time had been given? Chances are you have, if you’re human. The better question is do you execute a process or system of thinking about how you communicate the information you are sending, or received? Keep in mind that communication is verbal and non-verbal. Speaking, laughing, gesturing, emailing, debating, the list goes on and on. Communication is a complex process of encoding and decoding messages (information, ideas, and feelings) (Snyder, 2016, p. 4). It is tough, to say the least. Because we are social and emotional beings from different backgrounds and experiences, it becomes challenging to send the right messages in the way they may have been intended or receive messages in the way they may been expected to be received. Leaders and managers have a duty  to be cognizant of being good, effective communicators. I believe we can agree, leaders have followers. But the idea that being a good, effective communicator rests solely with leaders and managers is a delusion. Followers have the same duty . A model that has worked well throughout my professional and personal life is the ACE model. The acronym, ACE, stands for ‘Analyze, Compose, Evaluate’. See Figure A: The ACE Model. Analyzing  an idea, information, or feelings allows a leader or manager to break down the communication to its roots, or base. Does it need to break down to a detailed, granular, or microscopic level? It depends. Communication could be high- or low-level, general or specific, short or long, clear or unclear, so on and so forth. There are plenty of tools and techniques at one’s disposal that can be deployed to address or attack communication. The point here is to be sure that attention is provided to the idea, information, or feelings. Composing  the message that you intend to send to the receiver may sound like, “duh”, but unless you are flawless in delivering messages in the appropriate tone and delivery there’s room to improve by drafting what you are saying, about to say, or about to do. Good practice is to introduce the content and get it out of your mind and make it something you can see or touch, such as an email or by paper format. Evaluating  is last, but critical, as this is the “filter” aspect of the model. This is the time to change, revise, or clean up what is about to be communicated. This is the step that we all wish we could be better at, or that infamous moment we sometimes wish we could get back. Although we feel the message needs to be said we all must be conscious of what is communicated and how it is communicated. The old saying, ‘sticks and stones may break my bones, but words will never hurt me’, gives way for the wrong impression of how impactful, long-lasting words can be. While words will not break bones, they may most definitely hurt an employee, supervisor, or stakeholder. And words last longer than broken bones. Broken bones heal, whereas words stain. Business professionals and leaders must be careful and intentional when communicating. Bad communication can lead to disengagement, lack of motivation, being canceled, or worse! Figure A: The ACE Model This three-step process is simple, straightforward, and highly effective. It is a flexible communication process that can be applied to any situation, from “email messages to formal business presentations” (Snyder, 2016, p. xviii). In a personal setting, this can also be applied to your personal relationships with a relative, friend, or a hater. Regardless of the communication, positive or negative, it is best if it is well-thought out. Of course, a leader or manager may not always have the time to break down each situation every time. So, the recourse is to adopt the ACE model into a habit. There is potential to gain a lot of insight or answers, internally or externally, without asking questions by applying this model. In terms of value, time and patience are the cost. The return is worth it. Personally, I use the ACE model along with the five-why analysis ( who, what, when, where, why , and sometimes how ) on a regular, routine basis. The results and outcomes I have experienced I can say have been favorable. They may not have been to my liking, but for the most part, they have been favorable. Don't believe me? Try using the ACE model for a half-day, full day, full week, or to a specific communication! I would be interested in hearing from you. References Snyder, B. S. (2016). Business Communication: Polishing Your Professional Presence, 3rd Edition.  Hoboken: Pearson.   Meet Nikia Smith , Director of Project Management Office (PMO), driving success at Business and Wealth Generations. With over a decade of advisory expertise, Nikia orchestrates strategy and operations, spearheading growth and innovation. Beyond his professional endeavors, Nikia actively participates in his community, having served on the Board of Directors at the Project Management Institute Florida Suncoast Chapter in different roles for several years. Recognized for his contributions, he received the PMI Florida Suncoast Chapter Award in 2018 for significantly boosting membership and retention and was also selected to attend the 2019 PMI North America Leadership Institute Meeting in Philadelphia. Nikia holds a bachelor’s degree in management and organizational leadership with a focus on Project Management, alongside several business certificates from St. Petersburg College. He is also certified in CAPM and PMP by the prestigious Project Management Institute. For collaboration opportunities, reach out to Nikia at info@thebusinesswg.com .