7msofmanagement-111022094859-phpapp02

5/28/2018 7msofmanagement-111022094859-phpapp02

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Practice of modern management

owes its origin to the 16th century enquiry

into low-efficiency and failures of certain

enterprises, conducted by the Englishstatesman Sir Thomas More (1478-1535).

Management is often included as a

factor of production along with machines,

materials, and money. According to he

management guru Peter Drucker (1909-2005.

As a discipline, management

consists of the interlocking functions of

formulating corporate policy and

organizing, planning, controlling, and

directing an organization's resources to

achieve the policy's objectives.


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The functions of management

involves planning, controlling, leading,

organising decision making of business areas

in Marketing, Production, Sales, Research &

Development, Human Resource, Finance,

Operations Etc.

There are various levels ofmanagement. Top level takes all major and

crucial decisions and frames organization

mission, vision and objectives. Middle level

management gives direction to lower level

management of how to implement thosebusiness objectives. Policies are framed and

work method are determined.


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1. M A NMan in management is

referred to as a human

resource. It is the

recruitment, selection,

training, promotion and

grievances handling of

personnel. Payment of

compensation gratuity,

termination of services are

the few issues that have tobe dealt effectively to retain

the talentwithin an

organization.


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2. MATERIAL

Material is a basic

ingredient in management be it a

service industry or a productindustry. Most of the industries

locate them self nearby to the

availability of material


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Material is a basic ingredient in

management be it a service

industry or a product industry.

Most of the industries locate them

self nearby to the availability of

material


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3. MACHINE

Machineare the basic tools to produce

goods or to generate services.

Selection of an appropriate machine

not only enhances efficiency but also

saves times and increases revenue.Tailoring the requirement of the

organization, Selections of a right

technical machine and equipment,

availability of spare parts, evaluation of

after sales services, substitutes and

technology and the organization

budget are the crucial criteria while

purchasing a machine.


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Maintenance and overhaulingissues along with its life span

also cannot be overlooked. In

service Industry, Technology

matters a lot these days we are

having Computers & peripherals

as a major machine to serve the

service clients
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MoneyManagement is done to meet

day to day business requirements and

the funds involved in meeting those

requirements are known as working

capital.
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Every thing has a right way to

do and this right way is known as a

Method in management. In short itmeans, an art of doing. A set of

procedures and instructions is

known as a method. The visible

methods of a company include:Plans, Policies, Procedures, and

Data.


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. The less visible ones

include a company's norms

and its culture, and the

norms and culture of thesociety around it and the

methods of its customers,

suppliers, associates, and

competitors.
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Methods determine how people

work and their work priorities.

Methods link people to each other

and link people to materials.

The Scientific Methodis a

method for solving complex

problems. GAAPis a method for

evaluating financial performance.

ISO 9000 is a method for

evaluating Quality performance.

ISO 9000 Quality assurance

standards have as much to dowith improving quality as GAAP

has to do with improving

profits...
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A popular method of management is

what is referred to as 'management by

objectives'. This involves setting objectivesand targets for different aspects of the

organisation.

The managers job is then to make sure that

these objectives are achieved given an

allocated amount of resources.

The objectives will either be achieved,

exceeded, or fallen short of requiringremedial action where appropriate.
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Another form of management is an

autocratic approachwhere managers set

targets and objectives for others andsupervise the performance of their work.

The problem with autocratic managers is

that they can be intimidating and often fail

to encourage employees so that they donot use the human resource as well as

possible.

Consultative managers consult

with others to find out their views andideas before making decisions.
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Democratic managers encourage

others to make decisions for

themselves. Self managing teams are

ones where management is devolved

to members of a team, which does not

have to wait for instructions from

above.The style of management that is

most appropriate is often dependent on

the situation e.g. the nature of the

industry, the speed with whichdecisions need to be made, the

familiarity of managers and others with

the management style etc.
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Measurements are

quantified observations of

some aspect or attribute ofa process, product or

project. Measurements

enhance our ability to

understand things notaccessible to our native

abilities and intelligence.
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Measurements are

quantified observations ofsome aspect or attribute of

a process, product or

project. Measurements

enhance our ability to

understand things not

accessible to our native

abilities and intelligence.
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Ten Precepts of

Measurement1. Measure what the customer cares

about. Measurements should have

focus, based on goals and models.

However, in most organizations there

is little agreement or knowledge of

what goals should be. Goals must

relate to customer satisfaction.Ultimately, the customer is the only

arbiter of success.
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2. Measure the process, not the

person. The goal of ameasurement program must

be improvement, never

evaluation. Measurement

must support continuous

process improvement. Over

eighty per cent of quality

problems can be corrected by

concentrating on the process.
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3. Set goals. Know what the results ofmeasures should be, before you

measure. Know what you desire.

Benchmark against your competitors

and against world class

organizations. Setting goals for

quality measures ensures that the

organization remains focused on the

key items important from the

customers point of view. Goals

must be ambitious. Goals should

always be quantified and expressed

in actual numbers, not percentages.


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4. Know what to do about the

results you get. Use measuresto manage effort more

successfully. Measures must

be a basis for judgment or

action. When measures are

not achieving goals or are not

moving in the right direction,

know what intervention to take.

You must also know how your

intervention will affectmeasures, both short term and

long term.
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5.Anticipate the results of your

intervention. Get feedback, from allparticipants. Establish the

effectiveness of your measurement

program by measuring how measures

are actually used. Are you getting theresults you want? It is more important

to know this if you are achieving

positive results than if you are getting

negative ones. How will you sustainprogress if you dont know for certain

what is causing it?
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6. The process itself should yield measures.

Dont create a separate system to gather

measures, they should be a natural

byproduct of performing the process.Measurement should not be additional

overhead or burden upon the people

collecting the measures. Automate the

collection of measures where possible.This will become easier as the organization

becomes more sophisticated in stabilizing

and automating its processes. An

automated measure is better than a manual

one, but a manual measure is better than

none. As an example, an automated

project control system can be used to

measure the number of tasks completed

on schedule.


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7. Measures should be numerical and

objective. Measurement is not donewell subjectively. As stated earlier,

measurements enhance our ability to

sense things not accessible to our

native abilities and intelligence.

Subjectivity contradicts this. It alsomakes measures open to

interpretation, and no two persons

will interpret them in the same way.


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8. Publish and publicize measurement

results. Provide feedback to thesource, both of measures to be taken

and the results of those

measurements. Make sure everyone

involved understands the purpose ofthe measurement program. Measures

must be beneficial to the persons

collecting the data and performing the

process measured.


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9. Ensure comparability of measures. Without

stable processes and standards, measures

are meaningless. In systems development

work, individual performance has always

been the largest variable. This work must

be converted from an individual art form to a

repeatable process before it can be

effectively measured and controlled.Encourage the use of the best practices by

all your staff, bring everyone up to the level

or your best people.


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10. What you measure is what you get!

Finally, this is the most importantmeasurement precept, even more so

than relating measures to customers.

If you measure Lines of Code, you

will get Lines of Code. People

respond to whatever they are asked

to do. If you measure how many

projects are completed on schedule,you are likely to alter estimating and

reporting practices more than you are

to improve performance.


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Marketing Management is the process

allocating the resources of the organization

toward marketing activities. Thus, a marketing

manager is someone who is responsible fordirecting expenditures of marketing funds.

Related to the term management is the term

strategy.


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The Marketing Management Cycle

The planning cycle is composed of four basicsteps. First, Planning is the process of examining

and understanding the surroundings within which the

organization functions starting with environmental

scanning as the process of studying and making

sense of all the things that might impact the firms

operation that are external to the firm.

This would include studying and gaining an

understanding of such things as: competition,

legislation and regulation, social and cultural trends,

and technology. Both present and developing trends

in each of these areas must be identified andmonitored. The planning stage also includes creating

documents that outline the organizations intended

response to these environmental (external) variables.


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Second, Implementationis the process of

putting plans that have been made into

action. It is the transition from expected

reality to existing reality.

Third, Monitoring is the process of tracking

plans and identifying how plans related to

changes that take place during program

operation when more information is

acquired. Correction is the stage in which

we take action to return our plan to the

desired state based on feedback obtained

in the monitoring stage. If we find thatreturn to the planned state is not

practicable, we may adjust our planning

outcomes.


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Thus, Monitoring and Correctionmay be considered two stages because

after plans are put into action, one must

continually monitor performance and

make adjustments to the plan based onthe feedback gathered through these

monitoring activities. In summary, the

marketing management cycle is

composed of planning, implementing,monitoring, and correcting.


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References:

Copyright 1996 Edwin Lee,All rights reserved. You may download

and freely reprint this essay provided you include this copyright notice.

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