February 25, 2017

The Art and Science of Success - Edward de Bono - Information and Summary


Tactics - The Art and Science of Success - Edward de Bono


Table of Contents

Part I Success

1. Styles and Characteristics of Success


Styles: Creative Style; Management Style; Entrepreneurial Style

Characteristics of Typically Successful Styles:  Energy, Drive and Direction; Ego; 'Can-do'; Confidence; Stamina and Hardwork; Efficiency: Ruthlessness; Ability to Cope with Failure.

Success principles; - Positive attitude; - knowing what you want to do; - make the most of your own talent; - energy, persistence, determination & single mindedness seem important in all cases; - Action i.e take a step & then the next step; - a sense of integrity toward oneself & others; - an expectation of success & the ability to think big; - ability to set goals & targets, & also to have dreams; - creativity & the ability to see things differently & to think new thoughts; - Seizing of opportunities & creation of opportunities; - eagerness & enthusiasm & the willingness to make things happen; One should make the most of one's talent in the pursuit of success by honing it. Do not be trapped into one field by some talent for that field - You can find a use for your talent in growing fields.

2. What stimulates success?


Negative Stimulants: Anxieties

Positive Stimulants: Power and Money; Image Improvement; Status; Making Things Happen; Doing Something Worthwhile



3. How far is success within our control?


Early Environment; Born to Succeed; Key Factors: Expectation.

Can You Copy a Style and Become a Success?: Learning by Copying

What Can We Learn from Images?; Role-playing to Success; Role-living and Success; Spot the Phony; When is Artificial Phony?

Does Luck Leave Success Outside our Control?  Is There Such a Thing as Luck?: Good Luck or Good Judgment?; Looking for Opportunity in Time and Place.

Part II Prepare for Success

4. Focus I


Self-Knowledge: Strengths/Weaknesses; Self-awareness and Self-correction

5. Focus II


Choice of Field: How They Chose What to Do?; Does the Perfect Job Exist?; Be Ready to Change Targets.

Part III Make it A Success

6. Thinking & Doing


How to Generate Ideas?: Create New Ideas; The Creativity of Innocence; The Creativity of Escape


7. Strategy


Design a Strategy: General Strategy; Detailed Strategy; How Rigid Should a Strategy Be?

Why Strategy is More Than a Plan?: How Strategy can Create the Culture of an Organization

8. Decision-Making


How to Make a Decision?: Category Thinkers; Intuition - Magic of the Muse?

9.  Opportunity 


No Standing Still - Types of Opportunity: Opportunity Building,  Opportunity Seeking.

Assessing Opportunity: Is Technical Advancement Always an Opportunity?; New Technology as Opportunity, A High-risk Area?

Opportunism: The 'Me-too' Philosophy.

Niche Strategy: Play Your Own Game

10. Risk


Are Successful People Risk-takers?: Gambler's Risk; The Risk of Innovation.

Courage to Be at Risk - The Difference between Risk and Adventure

Risk Reduction: Work to Make a Decision Work; Learn to Wriggle.

11. Strategy for People as Resources


How to Choose the Best People?; How to Construct a Balanced Team.

Team Motivation: Use People Wisely; Create a Sense of Involvement; display a Sense of Involvement; You Don't Have to be Like; Communicate Goals, How to Communicate.

Getting Rid of People.

12. Tactical Play


Tactics, Communication and Negotiation: How Far Should You Go?; The Game's the Thinking; Image.

Illusion and Bluff in Negotiation: Thinking on Your Feet; The Merit of Surprise.

Gamesmanship: Psyching Your Opponent.

The Proper Place of Tactics

Epilogue

The Lessons; New Horizons.

The Art and Science of Success - Edward de Bono - Summary and Interesting Points

7. Strategy

Design a Strategy: General Strategy; Detailed Strategy; How Rigid Should a Strategy Be?
Why Strategy is More Than a Plan?: How Strategy can Create the Culture of an Organization.

A strategy provides you with a long-term view and hence the ability to take risks or do things which do not make sense in the short term.

Strategy is not only the manipulation of resources but also the development of those resources.

8. Decision-Making

How to Make a Decision?: Category Thinkers; Intuition - Magic of the Muse?

Category thinking relies upon past experience as its input.

10. Risk


Are Successful People Risk-takers?: Gambler's Risk; The Risk of Innovation.
Courage to Be at Risk - The Difference between Risk and Adventure.
Risk Reduction: Work to Make a Decision Work; Learn to Wriggle.

Anyone who takes an initiative or pursues an opportunity is taking some sort of risk.
Risk-taking accompanies innovation.

The capacity for courage is generally thought of as the ability to face up enormous disadvantage ( may be with even very low odds) such as possibility of death in a war.

Any successful person has chosen action as against inaction. In any initiative or opportunity pursuit there is an element of risk.







February 24, 2017

Marketing Research, Market Research and Market Intelligence



Marketing Intelligence - Introduction


If an individual or firm has an interesting product or service idea for offering to market, how will they know whether people like it and want to buy it? If they are willing to buy it, what price are they willing to pay? What quantity they will buy? Marketing research, an activity of marketing, will provide answers to these questions. Marketing research is the process of collecting, analyzing, and reporting marketing information that can be used to answer questions or solve problems so as to improve a company’s top line, sales revenue.  Marketing research includes a wide range of activities of enquiry related to marketing questions. Market research is a narrower activity. Market research is the process of researching a specific market to determine its size and trends.



The many marketing questions that marketing research can help to answers include the issues related to:

Developing product ideas and designs
Determining if there is demand for a product to decide whether or not to produce it
Identifying market segments for a  product
Making pricing decisions
Evaluating packaging types
Evaluating in-store promotions
Measuring the satisfaction of customers
Measuring the satisfaction of channel partners
Evaluating the effectiveness of the Web site
Testing the effectiveness of ads and their placement
Making marketing channel decisions

Market Intelligence


Market intelligence is also an important marketing research activity and is often referred to as competitive intelligence. Marketing research is generally commissioned to solve a specific marketing problem at a specific point in time as a project. Market intelligence involves gathering information on a regular, ongoing basis to stay in touch with what’s happening in the marketplace related to company's offering.


Marketing Research and Market Demand Forecasting


http://catalog.flatworldknowledge.com/bookhub/reader/2030?e=fwk-133234-ch10

February 19, 2017

MBA Core Management Knowledge - One Year Revision Schedule



One Year MBA Knowledge Revision Plan

Revision Schedule


Current Month - February    


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  



Updated 22 February 2017,  10 December 2015




Leadership - Subject Update




2017

Good Bosses Switch Between Two Leadership Styles
Jon Maner
Jon Maner is a professor of management and organizations at Kellogg School of Management, Northwestern University.
DECEMBER 05, 2016, HBR Article

The two styles are termed Dominance and Prestige. They could have been termed Single Person Dominance (Lone Boxer) and Team Decision Making (Foot Ball Team).
https://hbr.org/2016/12/good-bosses-switch-between-two-leadership-styles

Related
http://jon-maner-dev.squarespace.com/publications-case/the-essential-tension-between-leadership-and-power

https://www.psychologytoday.com/blog/sex-murder-and-the-meaning-life/201606/what-kind-leader-are-you

http://www.cnbc.com/2016/11/01/bossy-vs-buddy-two-leadership-styles-each-with-its-place.html



2016

http://www.leadershipissues.com/

Leadership Freak - A popular blog on leadership      https://leadershipfreak.blog/

What Great Managers Do Daily

Ryan FullerNina Shikaloff
HBR
DECEMBER 14, 2016
https://hbr.org/2016/12/what-great-managers-do-daily

Decoding Leadership: What really matters


Our most recent research, however, suggests that a small subset of leadership skills closely correlates with leadership success, particularly among frontline leaders. Using our own practical experience and searching the relevant academic literature, we came up with a comprehensive list of 20 distinct leadership traits. We did a survey and  found  that leaders in organizations with high-quality leadership teams typically displayed 4 of the 20 possible types of behavior; these 4, indeed, explained 89 percent of the variance between strong and weak organizations in terms of leadership effectiveness .

• Solving problems effectively: The process that precedes decision making is problem solving, when information is gathered, analyzed, and considered.

• Operating with a strong results orientation: Leadership is about not only developing and communicating a vision and setting objectives but also following through to achieve results. Leaders with a strong results orientation tend to emphasize the importance of efficiency and productivity and to prioritize the highest-value work.

• Seeking different perspectives: This trait is conspicuous in managers who monitor trends affecting organizations, grasp changes in the environment, encourage employees to contribute ideas that could improve performance, accurately differentiate between important and unimportant issues, and give the appropriate weight to stakeholder concerns. Leaders who do well on this dimension typically base their decisions on sound analysis and avoid the many biases to which decisions are prone.


2015





The Art of Giving and Receiving Advice.

Full Text Available
Periodical
By: Garvin, David A.; Margolis, Joshua D. Harvard Business Review. Jan/Feb2015, Vol. 93 Issue 1/2, p60-71.


Seeking and giving advice are central to effective leadership and decision making, and they require emotional intelligence, self-awareness, restraint, diplomacy, and patience on both sides. In this article, the authors argue that they are practical skills one  can learn and apply to great effect. The most common obstacles to effectively seeking and giving advice are  thinking one already has the answers, defining the problem poorly, and overstepping boundaries.  They  offer practical guidelines for getting past them.


Five stages of advising are identified: (1) finding the right fit; (2) developing a shared understanding; (3) crafting alternatives; (4) converging on a decision; and (5) putting advice into action. Each stage includes suggestions for seekers and for advisers.



The Authenticity Paradox. 

By: Ibarra, Herminia. Harvard Business Review. Jan/Feb2015, Vol. 93 Issue 1/2, p52-59.

INSEAD professor Herminia Ibarra argues, a simplistic understanding of what authenticity means can limit leaders' growth and impact.  In this article, Ibarra explains how leaders can develop an "adaptively authentic" style.  It's OK to change tactics from one day to the next, she says by figuring  out what's right for the challenges and circumstances we face.




2014

July

The Skills Leaders Need at Every Level
by Jack Zenger and Joseph Folkman
HBR Blog Post
16 Skills are listed in order of importance. Top 7 are said to be important.

1. Inspires and motivates others.
2. Displays high integrity and honesty
3. Solves problems and analyzes issues
4. Drives for results
5. Communicates powerfully and prolifically
6. Collaborates and promotes teamwork
7. Builds relationships
http://blogs.hbr.org/2014/07/the-skills-leaders-need-at-every-level/

Leadership Development Beyond Competencies: Moving to a Holistic Approach
Marian N. Ruderman, Cathleen Klerkin, and Carol Connelly
Center for Creative Leadership - White Paper
http://www.ccl.org/leadership/pdf/research/LeadershipDevelopmentCompetencies.pdf

Book review of Jane Dutton and Gretchen Spreitzer, How to Be a Positive Leader: Small Actions, Big Impact.
http://positivepsychologynews.com/news/kathryn-britton/2014073029174





2013

December
How to be a better boss?
Ask a person whether he wants to recommend his boss to his friends as the ideal boss to work under.
http://sloanreview.mit.edu/article/how-to-be-a-better-boss/

May
Knowledge@Wharton article
Social Technology and the Changing Context of Leadership
Social technology is changing the way leaders do conversations with their group members especially in large organizations. The article presents ideas on this issue
http://wlp.wharton.upenn.edu/LeadershipDigest/social-technology.cfm

2012
Sloan Management Review Article Spring, March 2012
How to Become a Better Leader
The article describes Big 5 Personality factors and use of them in developing oneself as a better leader.
http://sloanreview.mit.edu/article/how-to-become-a-better-leader/


Leadership Basic Articles

Organizational Behavior Articles

Theories of Leadership 
Cognitive Resources Theory of Leadership
Leadership Styles, Roles, Activities, Skills and Development

Principles of Management Articles


Updated  22 February 2017, 6 December 2016, 12 October 2016, 10 December 2015

February 18, 2017

The Marketing Concept - Kotler

Marketing Article Series



The marketing concept holds that the key to achieving organizational goals consists of being more effective than competitors in integrating marketing activities toward determining and satisfying the needs and wants of target markets.
_____________________________________________________________

Marketing - Definition



Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating, offering, and exchanging products of value with others.

A human need is a state of deprivation of some basic satisfaction. People require food, clothing, shelter, safety, belonging, and esteem. These needs are not created by society or by marketers. They exist in the very texture of human biology and the human condition.

Wants are desires for specific satisfiers of needs. Although people’s needs are few, their wants are many. They are continually shaped and reshaped by social forces and institutions, including churches, schools, families and business corporations. People in different societies differ in the way they satisfy their needs.

Demands are wants for specific products that are backed by an ability and willingness to buy them. Companies must measure not only how many people want their product but, more importantly, how many would actually be willing and able to buy it.


Market

A market consists of all the potential customers sharing a particular need or want who might be willing and able to engage in exchange to satisfy that need or want.

Marketers

When one party is more actively seeking an exchange than the other party, we call the first party a marketer and the second party a prospect. A marketer is some one seeking one or more prospects who might engage in an exchange of values. A prospect is someone whom the marketer identifies as potentially willing and able to engage in an exchange of values.


Marketers do not create needs. Marketers influence wants. Marketers influence demand by making the product appropriate, attractive, affordable, and easily available to target consumers. They also communicate their offering to prospects. Society influences wants. People living in different societies prefer different types of food items, different types of apparel and even different types of jewellery.

A product is anything that can be offered to satisfy a need or want. Offering and solution are synonyms to the product in marketing context.

A product or offering can consist of as many as three components: physical good(s), service(s), and idea(s).

Value is the consumer’s estimate of the product’s overall capacity to satisfy his or her needs.

Marketers offer value to a consumer when the satisfaction of customer's requirements takes place at the lowest possible cost of acquisition, ownership, and use.


Marketing management

Marketing management takes place when at least one party to a potential exchange thinks about the means of achieving desired responses from other parties.


Definition of American Marketing Association


Marketing (Management) is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals.


Marketing management has the task of influencing the level, timing, and composition of demand in a way that help the organization achieve its objectives. Marketing management is essentially demand management.

Marketing managers manage demand by carrying out marketing research, planning, implementation and control.


Marketing work in the customer market is formally carried out by sales managers, salespeople, advertising and promotion manages, marketing researchers, customer service managers, product and brand managers, market and industry managers, and the marketing vice-president.





The Marketing Concept





The marketing concept holds that the key to achieving organizational goals consists of being more effective than competitors in integrating marketing activities toward determining and satisfying the needs and wants of target markets.

The marketing concept rests on four pillars: target market, customer needs, integrated marketing, and profitability.


Target market


No company can operate in every market and satisfy every need. Nor can it always do a good job within one broad market.


Customer needs

Marketing is about meeting needs of target markets profitably.

The key to professional marketing is to understand their customers’ real needs and meet them better than any competitor can.

Some marketers draw a distinction between responsive marketing and creative marketing. A responsive marketer finds a stated need and fills it. A creative marketer discovers latent needs (needs not stated but observed or inferred) and produces solutions that customer did not ask for but to which they enthusiastically respond.

Integrated Marketing

When all the company’s departments work together to serve the customer’s interests, the result is integrated marketing.

Integrated marketing takes on two levels. First, the various marketing functions-sales force, advertising, product management, marketing research, and so on – must work together. Second, marketing department must be well coordinated with other company departments.

The company is doing proper marketing only when all employees appreciate their impact on customer satisfaction. To foster teamwork among all departments, the company carries out internal marketing as well as external marketing. External marketing is marketing directed at people outside the company. Internal marketing is the task of successfully hiring, training, and motivating employees who want to serve the customers well. In fact internal marketing must precede external marketing. It makes no sense to promise excellent service before the company’s staff is ready to provide excellent service.


Profitability


The ultimate purpose of the marketing concept is to help organizations achieve their goals. In the case of private firms, the major goal is profit. Marketing managers have to provide value to the customer and profits to the organization. Marketing managers have to evaluate the profitability of all alternative marketing strategies and decisions and choose most profitable decisions for long-term survival and growth of the firm.



Kotler, Philip (1997), Marketing Management, 9th Ed., Prentice Hall, New Jersey.

For Additional  Coverage on this topic in 14th Edition Visit
Philip Kotler - Keller Definition and Explanation of Marketing Management for 21st Century - 14th Edition


Dr. Kotler's Presentation on Marketing in 2012

____________

____________




--------------------
___________________
___________________



Related Articles

Kotler and Keller - 14 Edition Marketing Management Brief

30 Day MBA Self Study Course - Free Notes

February Management Knowledge Revision Plan

Planned Revision schedule for marketing chapters is 22 February to 16 March

Updated 22 February 2017, 18 February 2016, 22 Feb 2015, 10 Jan 2015, 13 June 2014

Originally posted in
http://knol.google.com/k/the-marketing-concept-kotler

February 2, 2017

Summary - Principles - Organizing




Principles in Relation to Purpose



Principle of unity of objectives


An organization structure is effective if it as a whole, and every part of it, make possible accomplishment of individuals in contributing toward the attainment of enterprise objectives.

Modified to bring in things into the principle


An organization structure is effective if it as a whole, and every part of it, make possible accomplishment of individuals (in combination with things given to him for operating and utilizing) in contributing toward the attainment of enterprise objectives.

Principle of efficiency

An organization or organization structure is efficient if it is structured to make possible accomplishment of enterprise objectives by people with minimum unsought consequences or costs.


Modified to bring in things into the principle


An organization or organization structure is efficient if it is structured to make possible accomplishment of enterprise objectives by people (and things given to them to utilize) with minimum unsought consequences or costs.





Principles Related to the Cause of Organizing




Span of management Principle


There is a limit at each managerial position on the number of persons an individual can effectively manage. But this number is not a fixed number and it will vary in accordance with underlying variables of the situation.


Modified to bring in things into the principle


There is a limit at each operating position on the number of machines or equipments an individual can effectively operate. But this number is not a fixed number and it will vary in accordance with underlying variables of the situation (Japanese managers increased the number of machines to even 100 and ultimately into fully automated production systems requiring zero operating personnel).


Principles in Developing the Structure of Organization




The scalar Principle


The more clear the line of authority from the ultimate authority for management in an enterprise (CEO) to every subordinate position, the more effective will be decision making and organization communication at various levels in the organization.



Principle of delegation


Authority is a tool for managing to contribute to enterprise objectives. Hence authority delegated to an individual manager should be adequate to assure his ability to accomplish results expected of him.





Principle of responsibility


The responsibility of the subordinate to his superior for authority received by delegation is absolute, and no superior can escape responsibility for the activities of his subordinate to whom he in turn has delegated authority.



Principle of parity of authority and responsibility


The responsibility exacted for actions taken under authority delegated cannot be greater than that implied by the authority delegated, nor should it be less.



Principle of unity of command


The more completely an individual has a reporting relationship to a single superior, the less the problem of conflict in instructions and the greater the feeling of personal responsibility.



The authority level Principle


Maintenance of authority delegation requires that decisions within the authority competence of an individual manager be made by him and not be referred upward in the organization.



Principles in Departmentizing Activities



Principle of division of work


The better an organization structure reflects a classification of the tasks and activities required for achievement of objectives and assists their coordination through creating a system of interrelated roles; and the more these roles are designed to fit the capabilities and motivations of people available to fill them, the more effective and efficient an organization structure will be.

Principle of functional definition


The more a position or a department has clear definition of results expected, activities to be undertaken, organization authority delegated, and authority and informational relationships with other positions, the more adequately individual responsible can contribute toward accomplishing enterprise objectives.

Principle of separation


If an activity is designed to be a check on the activities of another department, the individual charged with such activity cannot adequately discharge his responsibility if he reports to the department whose activity he is expected to evaluate.


Principles in the Process of organizing




Principle of balance


The application of principles or techniques must be balanced in the light of the over-all effectiveness of the structure in meeting enterprise objectives.

Principle of flexibility


The task of managers is to provide for attaining objectives in the face of changing environments. The more provisions are made for building organization flexibility, the more adequately organization structure can fulfill its purpose.

Principle of leadership facilitation


The more an organization structure an authority delegations within it make possible for various managers to design and maintain an environment for performance, the more it will facilitate leadership abilities of managers.



Note: Principle of efficiency is there in Principles of Planning also.


Review Articles on Steps in Organizing

The Nature of Organizing - Review Notes
Departmentation in Organizations - Review Notes
Line-Staff Authority and Decentralization - Review Notes
Effective Organizing and Organizational Culture - Review Notes

References


Harold Koontz and Cyril O’Donnell, Principles of Management: An Analysis of Managerial Functions, 4th Ed., McGraw-Hill, New York, 1968

Harold Koontz and Cyril O’Donnell, Principles of Management: An Analysis of Managerial Functions, 2nd Ed., McGraw-Hill, New York, 1959

Updated  4 February 2017,  5 Jan 2015,  7.12.2012


Revision of Principles of Management in January Revision Plan.


MBA Core Management Knowledge - One Year Revision Schedule

February 1, 2017

Societal Direction System - Yehezkel Dror



According to Yehezkel Dror, knowledge in the area of societal direction system is scarce.

Google Book Link as Reference

One full article of Yehezkel Dror
http://files.eric.ed.gov/fulltext/ED052521.pdf


Also visit page 25 of this book

https://books.google.co.in/books?id=EkSGOKiMcy0C

http://shodhganga.inflibnet.ac.in/bitstream/10603/11382/8/08_chapter%201.pdf

Pubic Policy Making Reexamined - Yehezkel Dror - Google Book Link
https://books.google.co.in/books?id=XbXBMX37hqYC


Thoughts of various thinkers in the area of public administration summarized

https://atulkulkarni123.wordpress.com/tag/significant-works-and-ideas-of-thinkers/



First posted on 2 February 2017.