Frameworks of management
Management function that coordinates the efforts of people to accomplish goals
and objectives using available resources efficiently and effectively
Management in business and organizations is the function that coordinates the efforts of people to
accomplish goals and objectives using available resources efficiently and effectively.
Management comprises planning, organizing, staffing, leading or directing,
and controlling an organization to accomplish the goal.
Resourcing encompasses the deployment and manipulation of human
resources, financial resources, technological resources, and natural resources.
Management is also an academic discipline, a social science whose objective is to study social
organization.
Stages
Planning how many to produce (I want to sel many like million but reality should
be maintained also not undercapicity should be appropriate not under or over
capacity)
Location if exports company you should be at port, service based you need acess
to young peple near it hubs etc
Products /service you should also provide service for the products
Make or buy make everything here or import some from outside (buget), if best
quality is from outside go on
Layout how offices designed etc
Projects critical
SchedulingControlling /improving what you can monitor
Quality - are you meeting quality requirements
Costs - you cant keep all stock all at once
Productivity with same inputs are you achieving outputs or need more people
Organizing degree of centralization do you need every thing to come from top
management or you can give power to superiors
Process selection
Staffing hiring/ laying off operation will tell hr what to do
Use of overtime
Directing
Incentive plan
Issuance of workorders
Job assignments
Issues for operation management also ceo
Economic condition customer will not pay as normal in economic slowdown they
want less price
Reduce operational cost main problem now cutting cost
Quality - inferior quality should not produced otherwise you will have to dispose
many products at complete loss
Risk management oil spill of bp in gulf o mexico happened but still paying
damages
Environment and personal loss
Employees shouldnt be impacted
Very risky business
Globalisation every company has to compete with products from other countries
Same quality and price of product at less price so outsourcing
Cheap labour
BPO etc support
Good thing access to low costs from other countries
I could either watch it happen or be part of it Elon musk (ceo tesla motors
TV
Best time to advertise
Who is ur target
Why MBA not mugging but application
New Marketing Mix 7 Ps
People what kind of people are selling your company
Should be innovative individuals
How you train ur people
Incentives etc
Process- built around objectives of business
Should focus on cutomers
What process customer is expecting
R & D what if failed product
We will repair withing 2 days - assurance
Physical evidence
High value brand
Will buy only if using it
Samples
Virtual
Train staff to make customer experience your product
Product most important
Marketing team should work with operation team
After we make good ads they use with huge expectation and we should fulfill
BCG matrix/growth matrix- portfolio analysis
Which product more/any investment
Market share