December 31, 2017

MBA Core Management Knowledge - One Year Revision Schedule


The blog contains articles on all management subjects developed using the most popular book on the subject. You can read articles on the sybject of your choice or use the following schedule.


One Year MBA Knowledge Revision Plan

Revision Schedule


Current Month -  April  


January  - February  - March  - April  - May   -   June

July       - August     - September  - October  - November  - December


Subject Details of Each Month



January  (Principles of Management)
February (P.of M & Marketing Management from 23 Feb 2015 )

March (Mktg. Mgmt. & Operations Management from 17 March 2015)
April  (Supply Chain Management and Financial & Cost Accounting)

May  (Management Accounting & Organizational Behavior)
June (Innovation, Industrial Engineering and Economics)

July  (Economics, Engineering Economics, & Managerial Ethics)
August    (Statistics, Quality and Six Sigma, OR & BRM)

September (HRM, Mentoring, Training, Maintenance, Energy & Environment Management)  -  October  (Information Technology and Management Information Systems, Logistics - Warehousing and Transport)

November (Strategic Management & Financial Management)
December (Business Laws, Negotiation, Taxes and Government Relations)

Subject                                               Revision Period

Principles of Management                15 January   to   19 February

Marketing Management                    22 February to   16 March

Operations Management                   17 March     to    2 April

Supply Chain Management                 3 April       to  15 April

Financial & Cost Accounting            16 April       to  12 May




I am participating in April A to Z Blogging Challenge and I am writing on the theme Top Management Challenges.

Top Management Challenges.


Article 1: Awareness of Environment
http://nraomtr.blogspot.com/2017/04/awareness-of-environment.html




Updated 1 April 2017.  22 February 2017,  10 December 2015




November 10, 2017

Management Theory and Practice - Bulletin Board - 2017

Engineering and Management News - A Daily Publication  - Management Principles and Propositions

HBR Business Blogs

November 2017


Transformations by New CEOs
https://www.bcg.com/publications/2017/transformations-people-organization-that-work-why.aspx?linkId=44591301

Amoeba Management - Kazuo Inamori - Full Web Page on the topic with various links

http://global.kyocera.com/inamori/management/amoeba/

27 August 2016

Why Companies Can’t Perceive Customer Insights and Can't Turn the limited Customer Insight into Growth

BCG Perspectives
16 August 2016

Many companies spend more time looking inward. Check in your next internal meeting, record on one sdie each mention of an internal topic, such as financial or operational performance, plans, metrics, organization, employees, or culture. On the other side, record each discussion of an external topic, related to competition such as technology, innovation, purpose, testing, social media conversations, or topics related to customer,  customers’ behaviors, needs, and wants. You will be surprised to see that internal topics dominate the external topics. Hence people spend more time in preparing for answering internal issues related questions and spend less time customers and competition.  This is not a good way of allocating top management and middle management resources. At each meeting, the priority area is to be decided and adequate time is to be given to that area. There has to be balance in various activities of the organisation. This principle was given by Henri Fayol way back in 1920s.
https://www.bcgperspectives.com/content/articles/center-customer-insight-marketing-sales-why-companies-cant-turn-customer-insights-growth/

Values of Business Schools


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Updated 12 November 2017, 20 October 2016,  27 August 2016,  18 September 2015

October 23, 2017

The Strategic Management Process - Review Notes





The tasks of developing  and executing company strategies are the heart and soul of managing a business enterprise and winning in the marketplace.

A company's strategy is the plan management is using to acquire a market position and  conduct its operations. This involves  attracting and pleasing customers, competing successfully against and the current and future rivals, and achieving organizational objectives.

The central thrust of a company's strategy is undertaking moves to build and strengthen the company's long-term competitive position in its chose target market segments as well as in the overall market and  gain a competitive advantage over rivals that then becomes a company's ticket to above-average profitability and performance. A company's strategy typically evolves over time as a blend of (1) proactive and purposeful actions on the part of company managers and (2) as-needed reactions to unanticipated developments and fresh market conditions.

Closely related to the concept of strategy is the concept of a company's business model.

A company's business model is management's story line for how and why the company's product offerings and competitive approaches will generate a revenue stream and have an associated cost structure that produces attractive earnings and return on investment—in effect, a company's business model sets forth the economic logic for making money in a particular business, given the company's current strategy.  Business model must have a demand model, that explains how the company's product or products sell a particular quantity at a particular price. The model has to satisfy the criterion that as price increases demand decreases for each product. The cost model is also a part of the business model. It tells how a particular quantity of a product is produced and distributed at a particular cost. Thus profit is determined from the demand model and cost model for a specified price. The company then has the option to select a price that maximizes the profit or a price that maximizes the demand given a minimum profit to be achieved.

A winning strategy fits the circumstances of a company's external situation and its internal resource strengths and competitive capabilities, builds competitive advantage, and boosts company performance.

Crafting and executing strategy are core management functions and especially the core top management functions in an organization. Whether a company wins or loses in the marketplace is directly attributable to the potential of that company's strategy and the zeal and controls with which the strategy is executed.

Managerial Process



The managerial process of crafting and executing a company's strategy consists of five interrelated and integrated phases:

Developing a strategic vision of where the company needs to head and what its future product/market/technology focus should be. This managerial step provides long-term direction, infuses the organization with a sense of purposeful action.


Objectives are derived from the  strategic mission and  vision and larger in number and they address the aspirations of all the stakeholders. Goals spell out how much of what kind of performance by when.  Companies need to both financial objectives and goals and strategic objectives and goals. A balanced scorecard approach provides the basis for both.


Crafting a strategy to achieve the objectives and move the company along the strategic course that management has charted. Crafting strategy is concerned principally with forming responses to changes under way in the external environment, devising competitive moves and market approaches aimed at producing sustainable competitive advantage, building competitively valuable competencies and capabilities, and uniting the strategic actions initiated in various parts of the company. The more that a company's operations cut across different products, industries, and geographical areas, the more that strategy making becomes a collaborative effort involving managers and company personnel at many organizational levels. The total strategy that emerges in such companies is really a collection of strategic actions and business approaches initiated partly by senior company executives, partly by the heads of major business divisions, partly by functional-area managers, and partly by operating managers on the frontlines.

The larger and more diverse the operations of an enterprise, the more points of strategic initiative it has and the more managers and employees at more levels of management that have a relevant strategy-making role.

Three Levels of Strategy


A single-business enterprise has three levels of strategy—business strategy for the company as a whole, functional-area strategies for each main area within the business, and operating strategies undertaken by lower-echelon managers to flesh out strategically significant aspects for the company's business and functional area strategies.

Four Levels of Strategy


In diversified, multibusiness companies, the strategy-making task involves four distinct types or levels of strategy: corporate strategy for the company as a whole, business strategy (one for each business the company has diversified into), functional-area strategies within each business, and operating strategies. Typically, the strategy-making task is more top-down than bottom-up, with higher-level strategies serving as the guide for developing lower-level strategies.


Implementing and executing the chosen strategy efficiently and effectively. 


Managing the implementation and execution of strategy is an operations-oriented (Marketing, Production, Sales, Distribution and Service), make-things-happen activity aimed at shaping the performance of core business activities in a strategy-supportive manner. Management's handling of the strategy implementation process can be considered successful if  the company meets or beats its strategic and financial performance targets and shows good progress in achieving management's strategic vision.


Evaluating performance and initiating corrective adjustments in vision, long-term direction, objectives, strategy, or execution in light of actual experience, changing conditions, new ideas, and new opportunities.

This phase of the strategy management process is the trigger point for deciding whether to continue or change the company's vision, objectives, strategy, and/or strategy execution methods.
A company's strategic vision plus its objectives plus its strategy equals a strategic plan for coping with industry and competitive conditions, outcompeting rivals, and addressing the challenges and issues that stand as obstacles to the company's success.

Activities -  The Managers have to do


Successful managers have to do several things in leading the drive for good strategy execution and operating excellence.

First, they stay on top of things. They keep a finger on the organization's pulse by spending considerable time outside their offices, listening and talking to organization members, coaching, cheerleading, and picking up important information.

Second, they are active and visible in putting constructive pressure on the organization to achieve good results. Generally, this is best accomplished by promoting an esprit de corps that mobilizes and energizes organizational members to execute strategy in a competent fashion and deliver the targeted results.

Third, they keep the organization focused on operating excellence by championing innovative ideas for improvement and promoting the use of best practices to ensure value creating activities are performed in a first-rate fashion.

Fourth, they exert their clout in developing competencies and competitive capabilities that enable better execution.

Fifth, they serve as a role model in displaying high ethical standards, and they insist that company personnel conduct the company's business ethically and in a socially responsible manner. They demonstrate unequivocal and visible commitment to the ethics enforcement process.

Sixth and finally, when a company's strategy execution effort is not delivering good results and the organization is not making measured progress toward operating excellence, it is the leader's responsibility to step forward and push corrective actions.

Role of The Company Board


Boards of directors have a duty to shareholders to play a vigilant role in overseeing management's handling of a company's strategy-making, strategy-executing process. A company's board is obligated to (1) critically appraise and ultimately approve strategic action plans; (2) evaluate the strategic leadership skills of the CEO and others in line to succeed the incumbent CEO; (3) institute a compensation plan for top executives that rewards them for actions and results that serve stakeholder interests, most especially those of shareholders; and (4) ensure that the company issues accurate financial reports and has adequate financial controls.





References
http://highered.mcgraw-hill.com/sites/0073530425/student_view0/chapter1/
17th edition site

http://highered.mcgraw-hill.com/sites/0073530425/student_view0/chapter2/


Updated 25 October 2017,  13 August 2016,  21 May 2012

October 21, 2017

Psychology for Managers - Introduction

Manufacturing Management - Text Books - Bibliography














Early Books on Manufacturing Management



Factory Organization and Administration
Hugo Dimer, First Professor of Industrial Engineering, Pennsylavania State College
First edition: 1910
Third edition digital copy
http://www.archive.org/stream/factoryorganiza00diemgoog#page/n10/mode/2up

Profit Making in Shop and Factory Management
Charles U. Carpenter, 1908
http://www.archive.org/stream/cu31924002748576#page/n1/mode/2up

Shop Management
Frederick Winslow Taylor, 1911
http://www.archive.org/stream/shopmanagement00taylgoog#page/n10/mode/2up

Factory and Office Administration
Lee Galloway, 1918
http://www.archive.org/stream/factoryofficeadm00galliala#page/n3/mode/2up

Factory Management Wastes: And How to Prevent Them
James F. Whiteford, 1919
http://www.archive.org/stream/factorymanagemen00whit#page/n7/mode/2up

Plant Management
Dexter S. Kimball, 1919
http://www.archive.org/stream/cu31924031222627#page/n7/mode/2up






2017

Advances in Production Management Systems. Initiatives for a Sustainable World: IFIP WG 5.7 International Conference, APMS 2016, Iguassu Falls, Brazil, September 3-7, 2016, Revised Selected Papers

Irenilza Nääs, Oduvaldo Vendrametto, João Mendes Reis, Rodrigo Franco Gonçalves, Márcia Terra Silva, Gregor von Cieminski, Dimitris Kiritsis
Springer, 15-Mar-2017 - Computers - 962 pages


This book constitutes the refereed post-conference proceedings of the International IFIP WG 5.7 Conference on Advances in Production Management Systems, APMS 2016, held in Iguassu Falls, Brazil, in September 2016.

The 117 revised full papers were carefully reviewed and selected from 164 submissions. They are organized in the following topical sections: computational intelligence in production management; intelligent manufacturing systems; knowledge-based PLM; modelling of business and operational processes; virtual, digital and smart factory; flexible, sustainable supply chains; large-scale supply chains; sustainable manufacturing; quality in production management; collaborative systems; innovation and collaborative networks; agrifood supply chains; production economics; lean manufacturing; cyber-physical technology deployments in smart manufacturing systems; smart manufacturing system characterization; knowledge management in production systems; service-oriented architecture for smart manufacturing systems; advances in cleaner production; sustainable production management; and operations management in engineer-to-order manufacturing.

https://books.google.co.in/books?id=khBhDgAAQBAJ

Manufacturing Management - Introduction

Planning, organizing and controlling manufacture of goods is manufacturing management. Chase et al. define operations management as the design, operation, and improvement of the systems that create and deliver the firm's primary products and services. Operations management is a discipline that includes production of goods and services.

Once the company decides to manufacture and sell a product, the specialized responsibility of the manufacturing management starts. But the decision to manufacture a product is based on feasibility analysis. During this analysis also manufacturing management issues are involved. Therefore, the persons doing strategic analysis or corporate planning analysis include persons from manufacturing management discipline with manufacturing management knowledge and bring into the analysis or decision making process the manufacturing view point.

Manufacturing is carried out through processes. A process is any actvity or group of activities that takes one or more inputs, transforms them, and provides one or more outputs. The output could be for an external customer for sale or for an internal customer to use for further processing. In some cases it can be for consumption in the same process or by the consumption by the producer hmself. Manufacturing processes convert materials into goods that have a physical form. The transformation processes change the materials on one or more of the following dimensions:

1. Physical properties
2. Shape
3. Fixed dimension
4. Surface finish
5. Joining parts and materials.

The outputs from manufacturing processes can stored and transported in anticipation of future demand (Krajewski et al. 2007).

Important Developments in Manufacturing Management



Developments in manufacturing management include certain technical developments that made manufacturing systems more productive and flexible.

Shop floor management guidelines provided by F.W. Taylor were landmarks in the field of manufacturing management. Taylor further development Scientific management philosophy. Taylor also brought out the importance of scientific studies in manufacturing processes improvement or design. His studies on machining were considered a very important research contribution. Taylor also introduced time study based best practice identification and training all operators in the best practice. He advocated that manufacturing managers have the responsibility of developing manufacturing methods and training operators in best methods.

Frank Gilbreth developed study of motions of operators to develop efficient operator movements either to do manual work or to operate machines. He and Lilian Gilbreth also introduced the concept of fatigue and proposed ways to prevent the negative consequences of fatigue in operators as well as in manufacturing systems.

Henry Ford introduced moving assembly lines that revolutionized the production systems. Henry Gantt developed charts that helped scheduling production activities.

Harry Emerson wrote a book on principles of efficiency and it became part of industrial engineering and scientific management literature. Focus on efficiency in systems in general and especially manufacturing systems sharpened.

F.W. Harris developed theory of batch quantities in production and purchase. Walter Shewart developed procedures for using statistical thinking in process control. He created methods for determining when to change machine setups based on the measurements of samples taken at random intervals.

Hawthorne studies became another landmark development in manufacturing management. They brought out the importance of psychological variables in improving or decreasing productivity of operators. Unfortunately, the proponents of this line of thought have not integrated their conclusions with the ideas of scientific management appropriately. They chose to attack themes of scientific management. Manufacturing management might have had a different state today, if scientific management movement that had engineering foundations and human relations school of thought that had psychology as its foundation were appropriately integrated by human relations school.

Development of operations research (OR) helped manufacturing managers to understand and optimize their systems better. Study of operations research became a part of studies of manufacturing managers. Use of computers was started in recording store related transactions and data and it was extended to shop floor transaction data. The use was further extended to calculation of batch quantities and preparation of loading sheets and schedules. MRP and MRP II came into existence and they got extended into ERP systems.

In 1970s, scholars in USA recognized that Japanese had used their manufacturing management philosophies, strategies and techniques as a strategic capability to win market shares in global markets. A new era of manufacturing strategy thought developed in manufacturing management. Automation increased in factories. With this multi-skilling of operators came into picture as now operators have more time and can operate more machines. As group layout became more popular, an operator was required to operate different machines which were in series. Total quality management, total productive maintenance, total cost management became the strategies. JIT or lean systems became the best practice production systems. While improvement everywhere reached its zenith, the important idea that it is improvement in bottleneck that has the most value was highlighted by Goldratt in the name of 'Theory of Constraints.'

Many new technologies came into existence and were adopted into manufacturing processes. The existing ideas regarding technology adoption did not emphasize the suboptimal use of technology. The full power of technology was not being put to use by many. Theory of BPR brought this into focus and helped systems become more productive by utilizing the power and potential of the new technologies more. Ability to look at bigger and bigger systems using OR models and system dynamics models and the ability to access data anywhere using internet based data communication systems made coordination across distributed national and global facilities. This led to the development of theory of supply chain wherein information can be made visible to anybody and optimization can be done from the point of origin or raw materials to its dumping point. Manufacturing facilities are now a part of supply chains wherein information is available to both suppliers and potential customers in real time and purchasing is done through electronic orders. In a century, manufacturing management theory and practice developed immensely.


Chase, Richard, B., F. Robert Jacobs, Nicholas J. Aquilano , Operations Management, 11th Edition, McGraw-Hill, New York, 2006.
Krajewski, Lee et al., Operations Management: Processes and Value Chains, 8th Edition, Prentice Hall, Upper Saddle River, 2007.

________________________________________________________________________

Early Books on Manufacturing Management



Factory Organization and Administration
Hugo Dimer, First Professor of Industrial Engineering, Pennsylavania State College
First edition: 1910
Third edition digital copy
http://www.archive.org/stream/factoryorganiza00diemgoog#page/n10/mode/2up

Profit Making in Shop and Factory Management
Charles U. Carpenter, 1908
http://www.archive.org/stream/cu31924002748576#page/n1/mode/2up

Shop Management
Frederick Winslow Taylor, 1911
http://www.archive.org/stream/shopmanagement00taylgoog#page/n10/mode/2up

Factory and Office Administration
Lee Galloway, 1918
http://www.archive.org/stream/factoryofficeadm00galliala#page/n3/mode/2up

Factory Management Wastes: And How to Prevent Them
James F. Whiteford, 1919
http://www.archive.org/stream/factorymanagemen00whit#page/n7/mode/2up

Plant Management
Dexter S. Kimball, 1919
http://www.archive.org/stream/cu31924031222627#page/n7/mode/2up

__________________________________________________________________________


Advances in Production Management Systems. Initiatives for a Sustainable World: IFIP WG 5.7 International Conference, APMS 2016, Iguassu Falls, Brazil, September 3-7, 2016, Revised Selected Papers

Irenilza Nääs, Oduvaldo Vendrametto, João Mendes Reis, Rodrigo Franco Gonçalves, Márcia Terra Silva, Gregor von Cieminski, Dimitris Kiritsis
Springer, 15-Mar-2017 - Computers - 962 pages


This book constitutes the refereed post-conference proceedings of the International IFIP WG 5.7 Conference on Advances in Production Management Systems, APMS 2016, held in Iguassu Falls, Brazil, in September 2016.

The 117 revised full papers were carefully reviewed and selected from 164 submissions. They are organized in the following topical sections: computational intelligence in production management; intelligent manufacturing systems; knowledge-based PLM; modelling of business and operational processes; virtual, digital and smart factory; flexible, sustainable supply chains; large-scale supply chains; sustainable manufacturing; quality in production management; collaborative systems; innovation and collaborative networks; agrifood supply chains; production economics; lean manufacturing; cyber-physical technology deployments in smart manufacturing systems; smart manufacturing system characterization; knowledge management in production systems; service-oriented architecture for smart manufacturing systems; advances in cleaner production; sustainable production management; and operations management in engineer-to-order manufacturing. 



Article originally posted in
http://knol.google.com/k/-/-/2utb2lsm2k7a/3309

Updated 22 October 2017, 13 October 2014

October 20, 2017

Manufacturing Management Subject Update


Journal of Manufacturing Technology Management
http://www.emeraldinsight.com/journal/jmtm

2017

Advances in Production Management Systems. Initiatives for a Sustainable World: IFIP WG 5.7 International Conference, APMS 2016, Iguassu Falls, Brazil, September 3-7, 2016, Revised Selected Papers

Irenilza Nääs, Oduvaldo Vendrametto, João Mendes Reis, Rodrigo Franco Gonçalves, Márcia Terra Silva, Gregor von Cieminski, Dimitris Kiritsis
Springer, 15-Mar-2017 - Computers - 962 pages


This book constitutes the refereed post-conference proceedings of the International IFIP WG 5.7 Conference on Advances in Production Management Systems, APMS 2016, held in Iguassu Falls, Brazil, in September 2016.

The 117 revised full papers were carefully reviewed and selected from 164 submissions. They are organized in the following topical sections: computational intelligence in production management; intelligent manufacturing systems; knowledge-based PLM; modelling of business and operational processes; virtual, digital and smart factory; flexible, sustainable supply chains; large-scale supply chains; sustainable manufacturing; quality in production management; collaborative systems; innovation and collaborative networks; agrifood supply chains; production economics; lean manufacturing; cyber-physical technology deployments in smart manufacturing systems; smart manufacturing system characterization; knowledge management in production systems; service-oriented architecture for smart manufacturing systems; advances in cleaner production; sustainable production management; and operations management in engineer-to-order manufacturing. 


March 2015


Questions by Manufacturing Managers on Industrial Engineering and Cost Management
http://nraoiekc.blogspot.in/2014/11/manufacturing-managers-questions-on.html
You can provide your answers in comments


Advances in Production Management Systems
Conference APMS 2013
Proceedings Vol. 2
Preview Google Books
https://books.google.co.in/books?id=MGS7BQAAQBAJ&printsec=frontcover#v=onepage&q&f=false

Early Books on Manufacturing Management



Factory Organization and Administration
Hugo Dimer, First Professor of Industrial Engineering, Pennsylavania State College
First edition: 1910
Third edition digital copy
http://www.archive.org/stream/factoryorganiza00diemgoog#page/n10/mode/2up

Profit Making in Shop and Factory Management
Charles U. Carpenter, 1908
http://www.archive.org/stream/cu31924002748576#page/n1/mode/2up

Shop Management
Frederick Winslow Taylor, 1911
http://www.archive.org/stream/shopmanagement00taylgoog#page/n10/mode/2up

Factory and Office Administration
Lee Galloway, 1918
http://www.archive.org/stream/factoryofficeadm00galliala#page/n3/mode/2up

Factory Management Wastes: And How to Prevent Them
James F. Whiteford, 1919
http://www.archive.org/stream/factorymanagemen00whit#page/n7/mode/2up

Plant Management
Dexter S. Kimball, 1919
http://www.archive.org/stream/cu31924031222627#page/n7/mode/2up


Updated 2017, 10 December 2015