23 May 2016.POM-CHAPTER 1 Introduction to Management

23 May 2016
CHAPTER 1
Introduction to Management

Management Key Concepts
• Organizations: People working together and coordinating their actions to achieve specific goals.

• Goal: A desired future condition that the organization seeks to achieve.

• Management: The process of using organizational resources to achieve the organization’s goals by...

– Planning, Organizing, Leading, and Controlling

Characteristics of an Organization

1. A distinct goal and purpose

2. A systematic structure

3. An aim to serve society

4. Machine of management

1. Assume you are a manager in a team,what are the method you will use when come to commission sharing in a subsales/project sales within team member?

Subsales

As the perspectives as Team leader that lead the  subsale team,No commission split for subsale team since each of their commission is after agency payout.Usually commission split out within profit sharing /cogency is 50:50 basic ,however it would depend between of them and every commission split must agreed before start coagency to prevent any sensitive issue.

Project sales

For Ex:As a project Team Leader, if we gain 5% from the developer

✔️0.2% for the Refferal(whoever sign the project to the company)

✔️0.2% for the Leader 

✔️0.6% for the Core Team(exclude Team Leader)

✔️Remaining of 4% to the individual sales performer

As a Team Leader who lead the commited  project team;

External Sales Team(Roadshow/Personal closing)

✔️Pool Sharing :5% (share among every committed team members)

✔️Sales Achiever Qualifier Pool: 5% (share equivalent among whoever hit the sales target)

✔️Individual Sales : 90%

~Hyper : 70% (whoever present the project)(Keep follow up job)

~Closer : 30% (Whoever assist to close the deal)

2.What kind of strategies you will use to improve your team performance?

Conduct consistent training at least once a week to boost their knowledge on Real Estate Practise,Sales skill and also professionalism as REN/REA

Regular meeting once a week to tackle any issue occurred during handle transaction and sales review/checkpoint.

Allocation on products knowledge.Provide sales kit and material on product knowledge 

Do personal coaching or one to one session  of communication to understand each others and encourage team member achieve their target.

Buddy system/Mentor System between senior and junior to practically learning day in & day out activities.

Gather team member to attend third party seminar to do huge networking together.

Motivation Training once a week to encourage and boost confidence of team member

Send daily sales report so we could monitor daily activities of each team members

3.What kind of rewards you will offer to encourage individual sales & group sales performance?

✔️Individual Sales Achiever

Award Recognition to sales achiever with title,certification of recognition or trophy.

Incentive trip for 2 for individual sales achiever so they could bring one of their loved one together to the vacation

Luxurious goods as a reward for sales achiever

Bonus cash voucher of RM500 to newbie/beginner that hit their sales target

Every transacted sales/rental will gain one chance per transacted deal to gain chances to Lucky Draw every 3 months.

✔️Group Sales Performer

Oversea trip for top group performer

Recognition to Top 3 Team Leader with trophy,certificate of Recognition

Mini Retreat such as Luxury Dinner together or Spending Few Night in Resort with team members together for top group performer.