Category: SME Sector

Bringing Systems Change – Part 1

Whether we want to bring change in the society or change in the organization, this notes based on Theory U by Dr. Otto Scharmer of M.I.T can throw new light in your thinking process. BACKGROUND : First we can see the current reality. You can call it the Symptoms. The symptoms are in the form […]

Bringing System Change – Part 1

Whether we want to bring change in the society or change in the organization, this notes based on Theory U by Dr. Otto Scharmer of M.I.T can throw new light in your thinking process. BACKGROUND : First we can see the current reality. You can call it the Symptoms. The symptoms are in the form […]

Creating New Realities through 3 Transformations – Part 3

The third phase is *Transforming Action* (Read Part 1 and Part 2 ) Most people are related to action through the eyes of discipline, will power, effort and struggle etc. The real opportunity is to relate to action as a medium of learning. Learning by doing. Taking actions that generate feedback from the relevant stakeholders. […]

Creating New Realities through 3 Transformations – Part 2

Read Part 1 – Transforming Perception *** The next phase is *Transforming Self and Will* Each of us has 2 selves. The smaller self which is consumed by the need for survival, success and ego trips. The higher self which is the reflection of God(if you believe in God) or universal consciousness. As a leader […]

Creating New Realities through 3 Transformations – Part 1

The first phase of any initiative of creating new realities – whether it is at organization level, community , family or at larger levels is *Transforming Perceptions*. Transforming Perceptions has 3 aspects: How does one transform perceptions? First we have to realize that no one, NO ONE is ever connected fully with reality. Whatever reality […]

Your opinion : Is it really yours?

We get stuck in our opinions. Once we get stuck in our opinions, we get disconnected from others because they have their own opinions. Mostly they are also stuck in their own opinions. Personally or Professionally, individually or collectively – most of the disconnect happens because we all have opinions and inadvertently some of our […]

Leadership from the Emerging Future – A Special workshop for Entrepreneurs, Senior Management & Change Makers

https://bit.ly/LFEFCohort17 Learn and apply the principles of Transforming Perception – The first step for producing new kind of results for you and your team. For further information please contact: Manoj Onkar – manoj@managementinnovations.co.in; WhatsApp: 91-9106456275

INNOVATIVE THINKING SYSTEM

It’s time to innovate. Whether you want to innovate the business model, the products, the processes, the sales and marketing – this is the time to innovate. Let’s look at the game of innovation. First thing to understand is INNOVATION is not equal to CREATIVITY. INNOVATION = CREATIVITY + IMPLEMENTATION There are 4 key phases […]

Leadership is too important to leave it to ‘Leaders’. Isn’t it?

Organizations can no more afford to relate to some ‘leaders’ as leaders and bet the future of the whole organization and the eco-system on them. Also one is betting the PURPOSE and VISION of the Organization. In this really VUCA World, companies need to address couple of key Questions? What is the future of our […]

3 Transformations for Leadership & Change Management

As per Theory U by Dr. Otto Scharmer and the various related conversations, there are 3 key transformations that are critical for new kind of leadership to show up in organizations and in society. Transforming Perception: Sensing Transforming Self & Will: Presencing Transforming Action: Realizing & Fulfilling Transforming Perception: The world of Perceptions have 3 […]

Characteristics of Real Leaders : Shifting from EGO to ECO

Leaders of the 21st Century: They remove themselves from the center. They create space for others. They are good at listening. They are good at holding the space. They are good at attending to the whole. They are good at helping people to connect to the edges of the system. They are good at connecting […]

Business Impact of LFEF

Some of the organizational benefits of having the teams participate in the ‘Leadership from the Emerging Future’ (LFEF) Intervention Deep Relationships with Customers involving in-depth understanding of the customers’ view of the following: Their Important Objectives What they expect from you How would they measure your performance  Employee Engagement and Ownership: Increased bonding between the […]

Transforming Business & Leadership

Leadership from the Emerging Future 3 Transformations as the foundation of this new kind of Leadership Transforming how you perceive others and how you perceive situations, challenges and opportunities that you are dealing with Transforming how you perceive Self Transforming how others perceive you

7 Leadership Capacities

Seven Theory U Leadership Capacities The journey through the U develops seven essential leadership capacities.  1. HOLDING THE SPACE OF LISTENING: The foundational capacity of the U is listening. Listening to others. Listening to oneself. And listening to what emerges from the collective. Effective listening requires the creation of open space in which others can contribute to […]

Producing Results: Getting to the Source of Results

We are always looking at producing some results. Causing something. Avoiding something. Making something happen. Ensuring something doesn’t happen. What causes Results? Actions. Your Actions. Other People’s Actions. Also Inactions. What influences Actions? Thought Patterns As thought patterns change, one sees a change in actions and behaviours. What influences Thought Patterns? That is the million […]

What is Leadership in the 21st Century: Transforming PPP (Perception, Paradigm and Performance)

While leadership is accountable for the Performance and the Results. Leadership doesn’t cause the results. Leaders are not necessarily causing the results themselves. They are creating the environment in which results happen. The environment in which results happen includes the culture of the team and organization. It also includes the paradigm in which people operate. […]

Transforming the leadership and consciousness with which organizations, society and individuals operate.

For Leadership Team and Change Makers. Get trained and certified in the world’s powerful technology and make a big difference for your organizations. Master : Leadership Transformation Change Management Organizational Culture Management Development & Supervisor Development Teamwork & Breakthrough Collaboration Stakeholder Relationships Sales and Customer Service Technology that you use in large organizations and small […]

Why Leadership Education needs to change?

To bring different results on the planet, we need different leadership. Actually we need a different leadership paradigm. Shifting from Past based to based on sensing and actualizing the higher future possibilities. Shifting from EGO to ECO. From thinking of some people, some interest groups to thinking of one and all – holistic, all inclusive. […]

Leading in the Changing Economic Context

While management is about “Getting things done’, Leadership is about creating and cultivating the larger context – the fertile common ground and soil in which things can happen. Initially, business leaders embraced a directive approach i.e. command and control. Leaders setting the agenda and objectives designed to mobilize and guide the whole company. In the […]

Ignorance -> Hate -> Fear

The mass hysteria of CAA, Brexit, Trump and a World of Absencing/De-sensing … Also visible in Organizations, Communities and families. Everyone speaking – no one really listening. Deep Listening. Stuck in the absencing shown above and in inverted U below, instead of the bottom U of Presencing Economies of Destruction: Social Pathology We are stuck […]

Management Salt: 3 Cs of Creating an Innovation Culture

3 Critical Components of an Innovation Culture are: Curiosity Compassion and Courage. Curiosity: Curiosity is the primary driver for learning, exploring, asking, observing, seeking and experimenting. Curiosity allows us to suspend our opinions and judgements, and stuckness to the past and opens the possibility of finding out new facts, new paradigms, new data points and […]

Management Salt: Change Management Basics

“If you want to learn about an organization, try to change it.” ~ Kurt Lewin Any system or part of the system that you want to change – you can explore the system at 4 levels. Level 1: Visible Level: Symptoms, Results, Effects This is the level which is easily visible and many a times […]

Management Salt: What is the problem with Visioning Process and how do you deal with it?

There are 2 key elements in a Visioning Process. The first point is Whose Vision is it? Is it a Vision or a flaky statement of desire? If it is a Vision, is it an EGO Vision or an ECO Vision? i.e. is it about some small group of people or is it about all […]

Management Salt: Giving and Receiving Feedback

Transforming the Culture through each supervisor and manager. GIVING AND RECEIVING FEEDBACK Some Points: CONTEXT: Giving and Receiving feedback is one of the most important aspects of individual and organizational development. INTENTION: Giving and Receiving feedback should accomplish the following: Help the Individual improve their knowledge, skill, attitude and grow as a professional Improve the […]

MANAGEMENT SALT : How much management is good?

How much management is good? The guiding principle is: The amount of management required in an organization is inversely proportional to the quality of its people and the quality of alignment among its people. If your people are a highly competent team of self- generating leaders sourced by the common INTENTION (Purpose), the level of […]

Sales Leadership: Co-Creation

“The success of the intervention depends on the interior condition of the intervenor” – Bill O’Brien, former CEO of Hanover Insurance The success of a customer relationship depends on the interior condition of the seller. The interior condition meaning the quality of intention and the quality of attention and Presence. Is it an EGO Intention? […]

Why Teamwork doesn’t work and how to make it work

Everyone talks about teamwork. But does it really work? What do you do when you have wrong people on the team? Or People who really don’t know how to work on the team? What does it take to really make Teamwork Work? Consider the real issue is *What are you constituted as?* You can either […]

Education 4.0: From Student-Centric to Activating Deeper Sources of Learning

In education and learning we have seen a very similar shift, the journey from: OS 1.0: Input – Centric operations, revolving around traditional teaching and teachers, to OS 2.0: Output – Centric, revolving around standardized curricula and teaching for testing, to OS 3.0: Learner – Centric, which puts the experience of the student at the […]

Nature is not a Commodity, nor are People.

In his 1944 book ‘The Great Transformation’, political economist Karl Polanyi describes Capitalism as a commodity fiction. Capitalism, or the market society, is constructed on the foundation of a fiction – namely that nature, labour and money are commodities;they are produced for the marketplace, for consumption. But Nature is not a commodity. It is not […]

24 Principles of Large Scale Leadership and Change Management Interventions

The method of U(Theory U by MIT Prof.Dr. Otto Scharmer) is summarized in 24 Principles. Listen to What Life Calls You to Do: The essence of the U Process is to strengthen our ability to be present and consciously co-create. Listen and Dialogue with Interesting Players on the Edges: The second domain of listening takes […]

Innovating from the Future – Part 2: Co-Sensing

Having initiated a common intention with a core group, the next step is to form a team to take a deep-dive innovation journey through the stages of co-sensing, presencing, prototyping and institutionalizing. The Core group which often includes the executive sponsors and the team(execution team) tend to overlap. In small systems, the overlap could be […]

Innovating from the Future that wants to emerge – Part 1: Co-Initiating

Co-Initiating: Uncovering Shared Intention: The starting point of the process is to build a container (a holding space) for a core group that is going through the process together. This first stage lays the foundation for the later process and its impact. This first step of co-initiating focuses on uncovering common intention. Listening is the […]

Strategy Formulation Tools: MICHAEL PORTER Model for Industry Analysis

PORTERS MODEL FOR INDUSTRY ANALYSIS: Perhaps the best known tool for formulating strategy is the model developed by Michael E. Porter, an internationally acclaimed strategic management expert. Essentially, Porter’s model outlines the primary forces that determine competitiveness within an industry and illustrates how those forces are related. The model suggests that in order to develop […]

Strategy Formulation: BCG Growth-Share Matrix Model

BCG Growth-Share Matrix: The Boston Consulting Group, a leading consulting firm, developed and popularized a portfoilo analysis tools that helps managers develop organizational strategy based on market share of businesses and the growth of markets in which businesses exist. The 1st step in using this model is identifying the organization’s strategic business units (SBUs). A […]

A LEARNING ORGANIZATION

A LEARNING ORGANIZATION is an organization that does well in creating, acquiring and transferring knowledge, and in modifying behaviour to reflect the new knowledge. Learning organizations emphasize systematic problem solving,experimenting with new ideas, learning form experience and past history, learning from the experience of others, and transferring knowledge rapidly throughout the organization. According to Peter […]

Consumer Decision Making & Relationship Marketing

The Consumer’s decision to purchase or not to purchase a product or service is an important moment for most marketers. It can signify whether a marketing strategy has been successful or not. Therefore, marketing people are interested in the consumer’s decision making process. For a consumer to make a decision, more than one alternative must […]

PRICING STRATEGY IN COMPETITIVE TIMES

Pricing has lot to do with the target audience that you are positioning your product and service offerings for? Do you want to target the uber rich and super rich or you want to target the rich and the upper middle class? These competitive times along with the recessionary pressures will force most of the […]

PRANTIJ KELVANI MANDAL – VISION, MISSION & VALUES

VISION MISSION WORKSHOP – facilitated by Shri Manoj Onkar,Management Innovations. CORE VALUES : 1. SECULAR 2. HUMANE 3. OPENNESS 4. ACCOUNTABILITY 5. BEING SYSTEM ORIENTED 6. INNOVATIVE PURPOSE GROOMING CHILDREN TO BE CITIZENS ROOTED IN ONE’S OWN CULTURE LIVING BY VALUES EMPOWERED TO FACE CHALLENGES OF LIFE VISION Our Institutes – Centers  Of Excellence. Transforming […]

CHANGE & RELATED STRESS MANAGEMENT

CHANGE & STRESS     Whenever managers implement changes, they should be concerned about the stress they may be creating.   If the stress is significant enough, it may well cancel out the improvement that was anticipated from the change.   In fact, stress could result in the organization being less effective than it was […]

Factors for Change Management

FACTORS TO CONSIDER WHEN CHANGING AN ORGANIZATION   The following factors should be considered whenever change is being contemplated:   The Change Agent Determining What should be Changed The kind of Change to Make Individuals affected by the Change Evaluation of the Change   THE CHANGE AGENT:   The change agent might be a self […]

CHANGE MANGEMENT BASICS

FUNDAMENTALS OF CHANGING AN ORGANIZATION   Changing an Organization is the process of modifying an existing organization to increase the overall organizational effectiveness.   These modifications can involve any organizational aspect, but typically it affects the lines of authority, the levels of responsibility held by various organization members, and the established lines of organizational communication. […]

Performance Appraisals

PERFORMANCE APPRAISAL   Performance Appraisal is the process of reviewing individual’s past productive activity to evaluate the contribution they have made towards attaining the organization’s objectives.   Performance Appraisal is a continuous review that focuses on both established human resources within the organization and new comers.   Its main purpose is to furnish feedback to […]

Training – Need Analysis, Design, Deliver and Evaluat

TRAINING   After recruitment and selection, the next step in providing appropriate human resources to the organization is Training.   Training is the process of developing qualities in human resources that will enable them to be more productive and thus to contribute more to organizational goal attainment.   The purpose of training is to increase […]

HR : Selection, Testing and Assessment Centers

SELECTION   The 2nd major step in providing human resource for the organization is SELECTION. Selection is choosing an individual to hire from all those who have been recruited (short listed).   Selection is obviously dependent on the 1st step which is recruitment. Selection is a series of stages through which job applications must pass […]

HR: Recruitment Basics

Appropriate Human Resource refers to individuals within the organization who make a valuable contribution to management system goal attainment. This contribution results from their productivity in the positions they hold.   Inappropriate Human Resource refers to organization members who do not make valuable contribution to the attainment of management system objectives. For one reason or […]

Centralization and Decentralization

The terms Centralization and Decentralization describe the general degree to which delegation exists in the company. Decentralizing an Organization:   The appropriate degree of decentralization for an organization depends on the unique situation of that organization.   Relevant Questions will be:   What is the present size of the organization? Where are the Organization’s customers […]

Obstacles in the Delegation Process

Obstacles that can make delegation within an organization difficult or even impossible can be classified into 3 general categories:   Obstacles related to the Supervisor Obstacles related to Subordinates Obstacles related to Organizations   Obstacles related to the Supervisor:   A supervisor who resists delegating his authority to subordinates because he cannot bear to part […]

ACCOUNTABILITY & DELEGATION

Accountability refers to the management philosophy whereby individuals are held liable, or accountable, for how well they use their authority and live up to their responsibility of performing predetermined activities. The concept of accountability implies that if an individual does not perform predetermined activities, some type of penalty, or punishment is justifiable. The punishment theme […]

TYPES OF AUTHORITY : LINE & STAFF ROLES

Authority is the right to perform or command. It allows its holder to act in certain designated ways and to directly influence the actions of others through orders. It also allows its holder to allocate the organization’s resources to achieve organizational objectives. AUTHORITY ON THE JOB : Barnard  defines authority as the character of communication […]

MANAGEMENT RESPONSIBILITY GUIDE

7 Responsibility Relationships among Managers, as used in the Management Responsibility Guide: General Responsibility: The individual who guides and directs the execution of the function through the person accepting operating responsibility.                                                 […]

RESPONSIBILITY

Responsibility is the obligation to perform assigned activities. It is the self assumed commitment to handle a job to the best of one’s ability. The source of responsibility lies within the individual. A person who accepts a job agrees to carry out a series of duties or activities or to see that someone else carries […]

Chain of Command

Departmentalization, Division of Labour, Span of Control and the 4th aspect of organizing effort is SCALAR RELATIONSHIPS – The Chain of Command. Every organization is built on the premise that the individual at the top possesses the most authority and that other individual’s authority is scaled downward according to their relative position on the organization […]

SPAN OF MANAGEMENT

After Departmentalization and Division of Labour, the third main consideration of any organizing effort is Span of Management – the no. of individuals a manger supervises. The more individuals a manger supervises, the greater the span of management. Span of management is also called the span of control, span of authority, span of supervision and […]

DIVISION OF LABOUR & Guidelines on Coordination

After Departmentalization, the second main consideration of any organizing effort is how to divide labour. Division of Labour is the assignment of various portions of a particular task among a no. of organization members. Rather than one individual doing the entire job, several individuals perform different parts of it. Production is divided into a no. […]

ORGANIZATIONAL STRUCTURE

STRUCTURE: In any organizing effort, managers must choose an appropriate structure. Structure refers to the designated relationships among resources of the management system. Its purpose is to facilitate the use of each resource, individually and collectively, as the management system attempts to attain its objectives. ORGANIZATIONAL CHART: An organizational chart is constructed in pyramid form, […]

ORGANIZING – 16 General guidelines by Henri Fayol

Organizing is the process of establishing orderly uses for all resources within the management system. Here, Orderly signifies the emphasis on the attainment of management system objectives and assist managers not only in making objectives apparent but in clarifying which resources will be used to attain them. IMPORTANCE OF ORGANIZING: The organizing function is extremely […]

METHODS OF SALES FORECASTING

Modern Managers have several different methods available for Sales Forecasting. Popular methods are: Jury of Executive Opinion Method The Salesforce Estimation Method Time Series Analysis Method Jury of Executive Opinion Method: In the Jury of executive opinion method of Sales Forecasting, appropriate managers within the organization assemble to discuss their opinions on what will happen […]

PLANNING TOOLS

The planning tools are techniques managers can use to help develop plans. 2 of the most important tools are: Forecasting Scheduling FORECASTING: Forecasting is the process of predicting future environmental happenings that will influence the operation of the organization. Although sophisticated forecasting techniques have been developed only rather recently, the concept of forecasting can be traced […]

PLANNING AREAS: INPUT PLANNING

Organizational inputs,process, outputs and environment are major factors in determining how much the organization will be successful. Planning in areas, such as plant facilities planning or human resource planning, is called INPUT PLANNING – the development of proposed action that will furnish sufficient and appropriate organizational resources for reaching established organizational objectives. e.g.: Human Resource […]

TYPES OF PLANS

STANDING PLANS are used over and over again because they focus on organizational situations that occur repeatedly. SINGLE USER PLANS are used only once, or at most, couple of times, because they focus on unique or rare situations within the organization. STANDING PLANS: Policies, Procedures and Rules: A POLICY is a standing plan that furnishes […]

WHAT IS A PLAN?

A Plan is a specific Acton proposed to help the organization achieve its objective. A crucial part of the management of any organization is developing logical plans and then taking the steps necessary to put the plans in to action. Regardless of how important experience related intuition may be to managers, successful management actions and […]

TACTICAL PLANNING Vs. STRATEGIC PLANNING

Tactical Planning is Short range planning that emphasizes the current operations of various parts of the organization. Short Range is  defined as a period of time extending about one year or less in the future. Managers use tactical planning  to outline what the various parts of the organization must do for the organization to be […]

STRATEGY IMPLEMENTATION & STRATEGIC CONTROL

Strategy Implementation, the 4th step of the strategy management process, is putting formulated strategies into action. Without successive implementation, valuable strategies deeloped by managers are virtually worthless. The successful implementation of strategy required 4 basic skills: INTERACTING SKILL ALLOCATING SKILL MONITORING SKILL ORGANIZING SKILL INTERACTING SKILL: Interacting Skill is the ability to manager people during […]

SAMPLE ORGANIZATIONAL STRATEGIES

SAMPLE ORGANIZATIONAL STRATEGIES Analyzing the organizational environment and applying one or more of the strategy tools i.e. Critical Question Analysis, SWOT Analysis, Business Portfolio Analysis and the Porter’s Model; will give the managers a foundation on which to formulate organizational strategy. The 4 common organizational strategies that evolve this way are: Growth Stability Retrenchment Divestiture. […]

STRATEGY FORMULATION TYPES

Understanding the forces that determine competitiveness within an industry should help managers develop strategies that will make their companies more competitive within the industry. Porter has developed 3 generic strategies to illustrate the kind of strategies managers might develop to make their organizations more competitive: Differentiation Cost Leadership Focus DIFFERENTIATION: Differentiation, the first of Porter’s […]

Strategy Forumulation: GE Multifactor Portfolio Matrix

GE Multifactor Portfolio Matrix: GE Multifactor Portfolio Matrix is a tools that helps managers develop organizational strategy that is based primarily on market attractiveness and business strengths. The GE Multifactor Portfolio was deliberately designed to be more complete than the BCG Growth Share Matrix. Each of the organization’s SBUs are plotted on a 2 dimensional […]

STRATEGY FORMULATION TOOLS

After the managers involved in the strategic management process have analyzed the environment and determined organizational direction through the development of a mission statement and organizational objective, they are ready to formulate strategy. STRATEGY FORMULATION is the process of determining appropriate courses of action for achieving organizational objectives and thereby accomplishing organizational purpose. Managers formulate […]

ORGANIZATIONAL DIRECTION: MISSION & OBJECTIVES

DETERMINING ORGANIZATION DIRECTION: Through an interpretation of information gathered during environmental analysis, managers can determine the direction in which an organization should move. 2 important ingredients of organizational direction are Organizational Mission and Organizational Objectives. DETERMINING ORGANIZATIONAL MISSION: The most common initial act in establishing organizational direction is determining an organizational mission. ORGANIZATIONAL MISSION is […]

STRATEGY PLANNING – ENVIRONMENTAL ANALYSIS

The 1st step of the strategy management process is environmental analysis. An organization can only be successful if it is appropriately matched to its environment. ENVIRONMENT ANALYSIS is the study of the organizational environment to pinpoint environmental factors that can significantly influence organizational operations. MANAGERS commonly perform environmental analyses to help them understand what is […]

FUNDAMENTALS OF STRATEGIC PLANNING

STRATEGIC PLANNING: Strategic Planning is  the long range planning that focuses on the organization as a whole. In doing strategic planning, managers consider the organization as a total unit and ask themselves what must be done in the long term( 3 to 5 years) to attain organizational goals. In strategic planning, managers try to determine […]

PROCESSES FOR MAKING GROUP DECISIONS

3 Famous Processes for Group level Decision Making are: Brainstorming Nominal Group Technique Delphi Technique BRAINSTORMING: Brainstorming is a group decision making process in which negative feedback on any suggested alternative by any group member is forbidden until all members have presented alternatives that they perceive as valuable. Brainstorming is carefully designed to encourage all […]

TYPES OF DECISIONS & DECISION MAKING PROCESS

A decision is a choice made between 2 or more available alternatives. Decision Making is the process of choosing the best alternative for reaching objectives. Managers make decisions affecting the organization daily and communicate those decisions to other organizational members. Some decisions affect a large number of organization members, cost a great deal of  money […]

THE PLANNER: Qualification and Evaluation

The planner is probably the most important input in the planning subsystem. This individual combines all other inputs and influences the subsystem process so that its output is effective organizational plans. The planner is responsible not only for developing plans but also for advising management on what actions should be taken to implement those plans. […]

MBO – Management by Objectives

MBO – Management by Objectives was popularized mainly through the writings of Peter Drucker. Some Managers find organizational objectives such an important and fundamental part of management that they use a management approach based exclusively on them. Although mostly discussed in the context of profit oriented companies, MBO is also a valuable management tool for […]

GUIDELINES FOR ESTABLISHING OBJECTIVES

In general an organization should have 3 types of Objectives: Short Term Objectives : Targets to be achieved in 1 year or less. Intermediate Term Objectives: Targets to be achieved in 1 to 5 years. Long Term Objectives: Targets to be achieved in 5 to 7 years. The necessity of predetermining appropriate organizational objectives has […]

PLANNING CHARACTERISTICS

4 Aspects of Planning are : Definition of Planning Purposes of Planning Advantages and Potential disadvantages of planning Primacy of Planning DEFINING PLANNING: Planning is the process of determining how the organization can get where it wants to go, and what it will do to accomplish its objectives. Planning is the systematic development of action […]

Diversity Management: Ethnocentrism and other negative dynamics

The changing demographics set in motion certain social dynamics that can interfere with workforce productivity. If an organization is to be successful in diversifying, it must neutralize these dynamics.  ETHNOCENTRISM: Our natural tendency is to judge other groups less favourably than our own. These tendency is the source of ethnocentrism. Ethnocentrism is the belief that […]

VARIOUS APPROACHES TO MEETING SOCIAL RESPONSIBILITY

Lipson, a desirable and socially responsive approach to meeting social obligations does the following: Incorporates social goals into the annual planning process. Seeks comparative industry norms for social programs. Presents reports to organization members, the board of directors, and stockholders on social responsibility progress. Experiments with different approaches for measuring social performance. Attempts to measure […]

OUTCOMES OF SOCIAL RESPONSIBILITY INVOLVEMENT EXPECTED BY EXECUTIVES

POSITIVE OUTCOMES: Enhanced corporate reputation and goodwill. Strengthening of the social system in which the corporation functions. Strengthening of the economic system in which the corporation functions. Greater Job satisfaction among all employees. Avoidance of issues with government regulations. Greater job satisfaction among executives Increased chances for survival of the firm. Ability to attract better […]

THE SYSTEM APPROACH

The system approach to management is based on general system theory founded by Scientist Ludwig Von Betalanffy. The main context of this theory is that to be able to fully understand the operations of an entity, the entity must be viewed as a system. A system is a number of interdependent parts functioning as a […]

MANAGEMENT SCIENCE

The Scientific Method of problem solving dictates that one should: Systematically observe the system whose behaviour must be explained to solve the problem. Use these specific observations and from which consequences of changing the system can be predicted. Use the model to deduce how the system will behave under conditions that have not been observe […]

HENRI FAYOL’S 14 Principles of Management

Management Principles developed by Henri Fayol:  DIVISION OF WORK: Work should be divided among individuals and groups to ensure  that effort and attention are focused on special portions of the task. Fayol presented work specialization as the best way to use the human resources of the organization.                 […]

UNIVERSALITY OF MANAGEMENT & MANAGEMENT SKILL

Management principle are universal; that is why, the apply to all types of organizations including but not limited to FOR PROFIT AND NOT FOR PROFIT ones like businesses, churches,sororities, athletic teams, hospitals and so on. Manager’s jobs vary somewhat from one type of organization to another because each organizational type requires the use of specialized […]

MANAGERIAL EFFECTIVENESS & EFFICIENCY

ORGANIZATIONAL RESOURCES:   Human Resources Monetary Resources Raw Materials Capital   Organizational resources are used,combined and transformed into finished products during the production process. Human resources are people who work for an organization.Their skills and their knowledge are leveraged by the managers. Monetary resources are amounts of money that managers use to purchase goods and […]

DEFINE MANAGEMENT & ITS FUNCTIONS

Management is the process of reaching organizational goals by working with and through people and other organizational resources.  Management has the following 3 characteristics: It is a process or series of continuing and related activities. It involves and concentrates on reaching organizational goals. It reaches these goals by working with and through people and other […]

ROLE & IMPORTANCE OF MANAGEMENT

IMPORTANCE OF MANAGEMENT: Managers influence all the phases of modern organizations. Sales Managers maintain a sales force that markets goods. Personnel managers provide organizations with a competent and productive workforce. Plant managers run manufacturing operations that produce the clothes we wear, the food we eat, and the automobiles we drive. Our society could never exist as […]

ETHICS OF CONSUMER PRODUCTION AND MARKETING – Theories and Definitions

How far must manufacturers and their representatives go to make their products and services completely safe? WHAT Is the relationship between a business and its customers? a contract, or is there more to it than that? Hos does the fact that companies usually know more about their products than their customers IMPACT their duty to […]

BUSINESS & ENVIRONMENT

The process of producing goods forces businesses to engage in exchanges and interactions with 2 main environments ie. the customer environment and the natural environment. It is from the natural environment that business ultimately draws the raw materials that it transforms into it the finished products, which are then promoted and sold to the customers.  […]

ETHICS IN THE MARKET – Theories and Definitions

PERFECT COMPETITION: A free market in which no buyer or seller has the power to significantly affect the prices at which goods are being exchanged. PURE MONOPOLY: A market in which a single firm is the only seller in the market and which new sellers are barred from entering. OLIGOPOLY: A market shared by a […]

THINGS TO CHECK IN A BUSINESS PLAN

We have been consulting an investor ( a strategic VC Operations) on investing in various projects. Common findings: The entrepreneurs who had approached the investors were operating more from their gut feelings than from data. They are very optimistic about their future prospects, even though they have been facing tough times for a long time. […]

THE BUSINESS SYSTEM – Markets, Government and International Trade

ECONOMIC SYSTEM: The system a society uses to provide the goods and services it needs to survive and flourish. GLOBALIZATION: The process by which the economic and social systems of nations are connected together so that goods, services, capital, and knowledge move freely between nations. TRADITION BASED SOCIETIES: Societies that rely on traditional communal roles […]

ETHICAL PRINCIPLES IN BUSINESS – Various Definitions

ETHIC OF CARE: An ethic that emphasizes cring for the concrete well being of those near to us. ETHIC OF VIRTUE: An ethic based on evaluations of the moral character of persons or groups. UTILITARIANISM: A general term for any view that holds that actions and policies should be evaluated on the basis of the […]

Business Ethics – Various Definitions and Theories

Business Ethics: The principles of conduct governing an individual or a group. Business Ethics: Ethics is the study of Morality.   Ethics is not the same as morality, it is a study  of various dimensions of Morality. Ethics is the discipline that examines one’s moral standards or the moral standards of a society. WHAT IS […]

BUSINESS ETHICS

Business Ethics is applied ethics in the day to day operations of the business. It is the on the court application of our understanding or what is good and right to that assortment of institutions, technologies,transactions,activities and pursuits that we call BUSINESS. Although ethics may be the best policy, the ethical course of aciton is […]

Consumer Behaviour Influencers

Consumer Behaviour & Purchase Decisions Influenced by Reference Groups and Families Almost all individuals regularly interact with other people who directly or indirectly influence their purchase decisions. Therefore, the study of groups and their impacts on the individual is of great importance,specially for the marketers who want to influence the consumer behaviours in favour of […]