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




April 30, 2017

Supply Chain Management Revision Articles with Links

3 April to 5 April 2016


Understanding the Supply Chain: http://nraomtr.blogspot.com/2011/12/understanding-supply-chain.html
Supply Chain Performance: Achieving Strategic Fit: http://nraomtr.blogspot.com/2011/12/supply-chain-performance-achieving.html

Supply Chain Drivers and Obstacles - Review Notes: http://nraomtr.blogspot.com/2011/12/supply-chain-drivers-and-obstacles.html
Designing the Distribution Network in a Supply Chain: http://nraomtr.blogspot.com/2011/12/designing-distribution-network-in.html


Facility Decisions: Network Design in the Supply Chain:  http://nraomtr.blogspot.com/2011/12/network-design-in-supply-chain.html
Network Design in an Uncertain Environment: http://nraomtr.blogspot.com/2011/12/network-design-in-uncertain-environment.html

2nd Week

8 April to 12 April 2016


Demand Forecasting in a Supply Chain: http://nraomtr.blogspot.com/2011/12/demand-forecasting-in-supply-chain.html
Aggregate Planning in the Supply Chain - Review Notes:
http://nraomtr.blogspot.com/2011/12/aggregate-planning-in-supply-chain.html

Planning Supply and Demand in the Supply Chain: http://nraomtr.blogspot.com/2011/12/planning-supply-and-demand-in-supply.html
Managing Economies of Scale in the Supply Chain: http://nraomtr.blogspot.com/2011/12/managing-economies-of-scale-in-supply.html

Managing Uncertainty in the Supply Chain: Safety Inventory:
http://nraomtr.blogspot.com/2011/12/managing-uncertainty-in-supply-chain.html
Determining Optimal Level of Product Availability:
http://nraomtr.blogspot.com/2011/12/determining-optimal-level-of-product.html

Sourcing Decisions in a Supply Chain: http://nraomtr.blogspot.com/2011/12/sourcing-decisions-in-supply-chain.html
Transportation in the Supply Chain - Chopra and Meindl:
http://nraomtr.blogspot.com/2011/12/transportation-in-supply-chain.html

Pricing and Revenue Management in the Supply Chain: http://nraomtr.blogspot.com/2011/12/pricing-and-revenue-management-in.html
Coordination in the Supply Chain - Review Notes:
http://nraomtr.blogspot.com/2011/12/coordination-in-supply-chain-review.html

3rd Week

15 April 


Information Technology and the Supply Chain: http://nraomtr.blogspot.com/2011/12/information-technology-and-supply-chain.html
e-business and the Supply Chain: http://nraomtr.blogspot.com/2011/12/e-business-and-supply-chain-review.html




View Twitter for latest in Supply Chain
https://twitter.com/hashtag/Supplychain?src=hash

April - Management Knowledge Revision



______________




















______________


1 April to 5 April 2016


Material Requirements Planning - Review Notes
Operations Scheduling - Review Notes


Financial Analysis - Review Notes
Operations Technology - Review Notes

Supply Chain Management

 3rd April 2016


Understanding the Supply Chain
Supply Chain Performance: Achieving Strategic Fit

Supply Chain Drivers and Obstacles - Review Notes
Designing the Distribution Network in a Supply Chain


Facility Decisions: Network Design in the Supply Chain
Network Design in an Uncertain Environment

2nd Week

8 April to 12 April 2016


Demand Forecasting in a Supply Chain
Aggregate Planning in the Supply Chain - Review Notes

Planning Supply and Demand in the Supply Chain
Managing Economies of Scale in the Supply Chain

Managing Uncertainty in the Supply Chain: Safety Inventory
Determining Optimal Level of Product Availability

Sourcing Decisions in a Supply Chain
Transportation in the Supply Chain - Chopra and Meindl

Pricing and Revenue Management in the Supply Chain
Coordination in the Supply Chain - Review Notes

3rd Week

15 April to 19 April 


Information Technology and the Supply Chain
e-business and the Supply Chain


Financial Accounting


Accounting: The Language of Business
Recording Transactions - Review Notes

Accrual Accounting  - Revision
Measuring Income to Assess Performance and Balance Sheet - Review Notes

Detailed Accounting Procedures

Accounting for Sales - Review Notes
Inventories and Cost of Goods Sold - Review Notes

Long-Lived Assets and Depreciation - Review Notes
Liabilities and Interest - Review Notes

4th Week

22 April to 26 April 2016



Statement of Cash Flows - Review Notes
Financial Statement Analysis - Review Notes

Cost Accounting

23 April 2016
Role of Costing and Cost Accounting in the Organizations
Introduction to Cost Terms - Review Notes

Traditional Cost Objectives and Their Utility
Job Costing - Review Notes


Activity-Based Costing and Activity-Based Budgeting
Process Costing - Review Notes



29 April


Supply Chain Management - Subject Update

Operations Management - Subject Update 2016
Supply Chain Management - Subject Update 2016




To May - Management Knowledge Revision

One Year MBA Knowledge Revision Plan


January  - February  - March  - April  - May   -   June

July  - August     - September  - October  - November  - December



Included in the A to Z Blogging Challenge Posts

Birthdays of Management Scholars and Executives in April


1 - Prof Maike Andresen (1971) - Chair for HRM
      https://www.uni-bamberg.de/en/bwl-pm/chair/prof-dr-maike-andresen/
2 - Jan Jantsch (1960)
3 - Mark Albion (1951)
4 - Charles Buxton Going (1863)  - Principles of Industrial Engineering - Book in 1911
5
6 - Armand V. Feigenbaum (1920) - Total Quality Control
      Clayton Christensen (1952) - Disruptive innovations
7
8
9
10 - Joseph Pulitzer (1847), Perry Sink Marshall (1969)
11 - Charles Eugene Bedaux (1886) - Check?  26 October 1886 (according to Wikipedia)
12 - Elwood S. Buffa (1923)  - Modern Production Management, Operations Management
13 - W. Charles Redding (1914), -
        Michael Hammer (1948) - Business Process Reengineering
14-  Eric Brynjolfsson (1962)
15 - Glen L. Urban (1940)
16
17 - J.P. Morgan (1837)
18 - Frederick Herzberg (1923),   Hygiene factors - Motivation factors model
       Bengt R. Holmstrom (1949),
       Niall Ferguson (1964),
       Robert Allen Phillips (1968)

19- James J. Heckman (Economics Nobel Prize Winner, 1944), James B. Orlin (1953),
      Peter Bowman Scott-Morgan (1958)
20
21- Max Weber (1864)  http://www.britannica.com/EBchecked/topic/638565/Max-Weber
      Alan Cerf
22
23
24
25
26
27
28
29 - Dan Ariely (1967)
30

January  - February  - March  - April  - May   -   June

July  - August     - September  - October  - November  - December



Included in the A to Z Blogging Challenge Posts

Last Year Plan Items


Cost Information for Pricing Decisions



Cost Behavior Analysis and Relevant Costs

Costing for Strategic Profitability Analysis



Cost Information for Customer Profitability Analysis

Costing for Spoilage, Rework and Scrap



Costing for Quality, Time and the Theory of Constraints

Costing for Inventory Management, JIT and Backflush


February 19 - 25


Cost Information and Analysis for Capital Budgeting

Cost Information for Management Control and Performance Control



Cost Information for Transfer Pricing

Managerial Accounting or Management Accounting - Review Notes



Relevant Information and Decision Making - Marketing Decisions

Relevant Information and Decision Making - Production



Relevant Information and Decision Making - HR

The Master Budget - Accounting Information


Flexible Budgets and Variance Analysis - Review Notes

Responsibility Accounting for Management Control

February 26 to March 4


Accounting Information for Management Control in Divisionalized Companies

Capital Budgeting - Accounting and Cost Information


To May - Management Knowledge Revision

One Year MBA Knowledge Revision Plan













Management of Training Programmes - Training Function

Managing Change in Improvement Projects



Manufacturing Management - Introduction

Mergers and Acquisitions - Introduction



Engineering Economy or Engineering Economics:

Introduction to Engineering Economics


April 23 - 29


Present-Worth Comparisons

Required Rate of Return for Investment or Expenditure



Rate-of-Return Calculations

Equivalent Annual-Worth Comparisons



Machine Selection Problem

Sensitivity Analysis - Engineering  Economics



Structural Analysis of Alternatives


Peter Drucker on Scientific Management - Industrial Engineering,


To May - Management Knowledge Revision

One Year MBA Knowledge Revision Plan

January  - February  - March  - April  - May   -   June

July  - August     - September  - October  - November  - December



Included in the A to Z Blogging Challenge Posts

















April 29, 2017

Youthful Organization


Maintaining Youth of the Organization and Preventing Old Age

“Like people and plants, organizations have a life cycle. They have a green and supple youth, a time of flourishing strength, and a gnarled old age. But organizations differ from people and plants in that their cycle isn't even approximately predictable.  An organization may go from youth to old age in two or three decades, or it may last for centuries."  John W. Gardner in 1965 October Issue of  Harper's.

So keeping an  organization youthful is a top management challenge.

Comparing an organization to an animal in biological terms is useful. But as we see now-a-days, the average productive age of humans has increased and some individuals are running marathon at age 71 at almost with the same time that they recorded at the age of 21, organization can maintain their strength and energy for many many years. There are certain organizations who completed 100 years of their existence and still going strong. Of course there are many examples of company closures and mergers who far outnumber the 100 year old organizations. That is why maintaining a youthful organization that can research the market, develop new products, produce them, sell them and service them with the same vigor as it was doing in its earlier years.


Actively hiring young employees periodically is way for maintaining the youthful organization. The company must be ready to train young people for front line operating jobs, supervisory positions and manager level positions.

One example is,  Starbucks  engaging its supply chain in partnership with LeadersUp, a new workforce intermediary, to increase the hiring of  youth. LeadersUp  offers multiple services: identifying barriers to youth employment across the supply chain, designing employer-led interventions (training, on-the-job mentoring, and organization redesign to create career pathways for opportunity youth), and measuring the return on investment of youth hiring activities.






Crises in a Developing Organization
by Gordon L. LippittWarren H. Schmidt
Harvard Business Review, NOVEMBER 1967
https://hbr.org/1967/11/crises-in-a-developing-organization


Life Cycle Models of the Organization


The Greiner Model - Larry E. Greiner

Cameron and Whetton Model

Ainsworth - Land Model

Noel Tichy's Model

Source: Designing Effective Organizations: Traditional and Transformational Views
David K. Banner, T. Elaine Gagné
SAGE, 1995 - Business & Economics - 480 pages

This book on organization theory adopts a distinctive stance. In contrast to the traditional rational approach, it develops a transformational perspective which focuses on the organizational world as a projection of each organizational member's consciousness. While covering all the basic topics of organization theory, the author's approach reflects today's changing management paradigms.
https://books.google.co.in/books?id=RVjyaVvEGHoC



Top Management Challenges


This article is part of #AtoZChallenge 2017 for Blogging Posts. My Theme for the Challenge is Top Management Challenges - Full List of Articles  http://nraomtr.blogspot.com/2016/12/a-to-z-2017-blogging-challenge-top.html


To Know More About A to Z Blogging Challenge

April 28, 2017

Xerophilous Organization - Surviving the Business Cycles




Meaning of Xerophilous


from The American Heritage® Dictionary of the English Language, 4th Edition

adj. Flourishing in or adapted to a dry hot environment.

from Wiktionary
adj. Being able to thrive in dry weather.

from the GNU version of the Collaborative International Dictionary of English
adj. Drought-loving; able withstand the absence or lack of moisture.

from The Century Dictionary and Cyclopedia
In recent usage correlated with xerophyte and equivalent to xerophytic, properly in sense 1: first used by Thurmann (1849), who regarded xerophilous plants as correlated with dysgeogenous soils.

Loving dryness: in botany noting plants which are in various ways peculiarly adapted to dry, especially to hot and dry climates, as by possessing coriaceous leaves, succulent stems, etc.;

So What is Xerophilous Organization: In one sense it is an organisation planning for business scenarios under global warming. Many warnings are there regarding global warming and the hot climate. Is any organization planning to do business in that environment? Is it developing products that are especially required in more hot climates?

In a second sense, xerophilous organizations have contingency plans ready to take low demand situations. That is when the demand for the products of the company dries up, how does the company change its course of action to survive the low demand period of the existing products. Is it flexible enough to reduce its fixed costs quickly and thus survive the low demand period?  Does it have innovation capability to come out with new products that use existing facilities and provide the capacity utilization that is at least sufficient to break even for certain number of years require to build demand that will give profit?

Top managers have to look at opportunities to expand business but there are years when instead of a growth opportunity they may face a year of contracting demand. What are they going to do? Top managers have to spend time on this issue and keep a plan ready to face dry years of business.


Top Management Challenges


This article is part of #AtoZChallenge 2017 for Blogging Posts. My Theme for the Challenge is Top Management Challenges - Full List of Articles  http://nraomtr.blogspot.com/2016/12/a-to-z-2017-blogging-challenge-top.html


To Know More About A to Z Blogging Challenge

April 27, 2017

Wandering to Manage - Shop Floor and Office - Observe the Action to Plan and Control




Management by Wandering Around (MBWA) was  invented by Hewlett-Packard sometime in the 1970s. It was made famous by Tom Peters and Robert Waterman as one of the ‘Eight Basics’ in their book, In Search of Excellence,  in 1982.  It is practiced by many managers in various industries.

One of the executives in Hotel industry wrote that  MWBA is an integral part of hotel management culture - top management must have that direct informal communication line with the information source- customers and employees and it is accomplished by meeting customers and frontline employees by going to the lobby, guest rooms and dining halls. It’s part of the job. It is important for the top managers to get a feel of what’s going on out there and observe whether things are going on as per the strategies and policies approved by them.
(https://www.isixsigma.com/community/blogs/your-office-out-there-mbwa-desk-bound-managers/page/2/)

Good article on MBWA

Management by walking around: 6 tips to make it work

Anne Fisher
Aug 23, 2012
http://fortune.com/2012/08/23/management-by-walking-around-6-tips-to-make-it-work/


How to manage by wandering around

In The Workplace
Reylito A. H. Elb
Posted on September 21, 2012
http://www.bworldonline.com/content.php?section=Labor&title=how-to-manage-by-wandering-around&id=58824


Management by Wandering Around (MBWA) - When Will It Succeed?


Anita L. Tucker and Sara J. Singer, in the working paper "The Effectiveness of Management-By-WalkingAround: A Randomized Field Study" [HBS Working Paper 12-113, 4 September 2013] provided the following ideas regarding the successful outcomes from management by wandering around.

MBWA-based program was associated with improved perceptions of performance under two conditions: (1) when a higher percentage of solved problems were considered “easy” to solve, enabling more problem solving, and (2) when senior managers took responsibility for ensuring that identified problems were resolved. This suggests that the action-taking that results from the program, rather than the mere physical presence of the senior managers, is what positively impacts the front line staff. 

Rather than increasing reporting, organizations might be better served by addressing known problems, which builds problem-solving capabilities, which in turn enables action-taking on more problems. This finding corroborates prior research that highlighted the importance of problem-solving capacity for successful improvement programs.

The above ideas are logical. Management which starts with planning and ends with the accomplishment of the task is concerned with action. Management by wandering around is to be done in an action oriented way. The top man must be able to observe as well as listen and become aware of the issues which need to be improved. Only when those issues are successfully resolved to the satisfaction of the customers, suppliers and employees, performance of the organization will up first in the favorable opinions of the persons involved and then in the operating and financial performance areas. 


Benefit of A to Z Blogging 2017


This time A to Z Blogging Challenge has proved useful in number of ways. It helped to me to create some new popular posts. It helped me to learn more about management especially the issues of interest to top management. There is good amount of advice on management by academics and practitioners. But still taking it to the right people who need to become aware of it and then study it in more detail is an important job. Bloggers and other online writers have to keep writing as well as try to reach such decision makers through various social media outlets that include communities with focused interests.





Top Management Challenges


This article is part of #AtoZChallenge 2017 for Blogging Posts. My Theme for the Challenge is Top Management Challenges - Full List of Articles  http://nraomtr.blogspot.com/2016/12/a-to-z-2017-blogging-challenge-top.html


To Know More About A to Z Blogging Challenge

April 26, 2017

Values Statement of the Organization



In the organizational culture model, behavior is the result of values and beliefs. Values are ideas now being promoted by the organization. Beliefs are the results of values promoted earlier and also the experience of people and the organization.

Behavior can be changed by values being promoted presently. Hence, values statement by the top management is very important. It is not just statement. The management has to assess the behavior that will result from the values being promoted. Is the behavior positive for organizational goals? They have to estimate the results that will come with various values and have to select the right combination.


Build-A-Bear Workshop

Core Values: Reach, Learn, Di-bear-sity Colla-bear-ate Give, Cele-bear-ate

L.L.Bean

Core Values Statement: Sell good merchandise at a reasonable profit, treat your customers like human beings, and they will always come back for more.
This quote from Leon Leonwood Bean has been known as “L.L.’s Golden Rule” at his namesake company since the 1920s, and it is posted prominently in its retail stores and manufacturing and shipping facilities,

Zappos.com

10 Core Values:
1. Deliver WOW Through Service
2. Embrace and Drive Change
3. Create Fun and a Little Weirdness
4. Be Adventurous, Creative, and Open-Minded
5. Pursue Growth and Learning
6. Build Open and Honest Relationships with Communication
7. Build a Positive Team and Family Spirit
8. Do More with Less
9. Be Passionate and Determined
10. Be Humble

Wegmans Food Markets

Our “Who We Are” Values: Caring, High Standards, Making a Difference, Respect, and Empowerment

Bright Horizons Family Solutions

Core Values Statement: The HEART Principles:
Honesty
Excellence
Accountability
Respect
Teamwork

Coke’s values include having the courage to shape a better future, leveraging collective genius, being real, and being accountable and committed.

Differentiating Role of Values from Other Similar Concepts

A vision statement says what the organization wishes to be like in some years’ time. It’s usually drawn up by senior management, in an effort to provide a memorable destiny.

The mission describes what business the organization is in (and what it isn’t) both now and projecting into the future. Its aim is to provide focus for management and staff.

Values describe the desired culture. They serve as a behavioral compass.

Principles give employees a set of directions.


Purpose provides outward focus. Purpose statements must  inspire your staff to do good work for customers. So purpose statements  must  express the organization’s impact on the lives of customers and clients.  Make employees feel the benefit they are providing to customers.

http://fortune.com/2015/03/13/company-slogans/

Your Company’s Purpose Is Not Its Vision, Mission, or Values
https://hbr.org/2014/09/your-companys-purpose-is-not-its-vision-mission-or-values


Top Management Challenges


This article is part of #AtoZChallenge 2017 for Blogging Posts. My Theme for the Challenge is Top Management Challenges - Full List of Articles  http://nraomtr.blogspot.com/2016/12/a-to-z-2017-blogging-challenge-top.html


To Know More About A to Z Blogging Challenge