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 -  March    


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




March 20, 2017

A to Z of Top Management Activities, Functions and Challenges - A to Z Blogging 2017 Challenge Theme




Top Management Activities, Functions and Challenges


A distinction between leadership, the leader, and the work of leading. Leadership is the principal dynamic force in organization that stimulates, motivates, and coordinates the organization in the accomplishment of its objectives. A leader is one who accepts responsibility for the success-
ful achievement of the organization's objectives, and is able to get the support of its members in the accomplishment of these objectives. The work of leading is management. It must be done in a
manner that is satisfactory to the group that is being led. Otherwise, the leader will not have its voluntary support.

Every executive should be a leader. The term executive includes, therefore, every employee whose principal responsibility has to do with directing and supervising the work of others. It includes, accordingly, all executive employees from and including the president to the lowest supervisor


Business objectives have been defined as values that the business organization is required or expected to acquire, create, preserve, or distribute. Values can be created only by work. The utility of an 
economic good or service is its ability to provide the customer or the organization with certain values that are needed or desired.  Its principal attributes are those of time, place, form, and possession. 
The creation of customer utilities makes possible the satisfactory accomplishment of the organization's primary service objectives.

Business functions may be classified broadly as managerial and operative. Management is the function of executive leadership.

Managerial functions involve the work of planning, organizing, resourcing, executing and controlling. My posts will describe the activities involved in these functions in A to Z sequence.

The accomplishment of the organization's economic mission requires the provision of various physical factors in performance. What they are depends on the requirements for the effective, economical performance of the particular business functions. The characteristics of the factors that are available may modify the method of performing them, however. They include such items as land, 
buildings, machinery, tools, materials, money, and any other physical implementation of these functions. They are capital items, either current or fixed.


Index for the posts


A to Z: 2017 Blogging Challenge - Top Management Challenge Areas

March 17, 2017

Digital Marketing Adoption by Fortune 500 Companies




December 2016
The Top Sales Strategies Fortune 500 Companies Use
80 percent of Fortune 500 companies are active on Twitter.
sales and marketing automation is one of the sales strategies that Fortune 500 companies use.

Nov 2016
The Technology Behind Fortune Global 500 Companies
https://www.translatemedia.com/translation-blog/technology-behind-fortune-global-500-companies/


The McKinsey View: The State of Digital Marketing & How to Capture Value
Full report on Salesforce State of Marketing 2016 can be downloaded from this web page.
https://www.salesforce.com/uk/blog/2016/11/the-mckinsey-view-the-state-of-digital-marketing.html

October 2016

Are Fortune 500 and Inc. 500 Companies Using Instagram?

Some 30% of Fortune 500 companies and 22% of Inc. 500 companies have active Instagram accounts- Research from The Center for Marketing Research, University of Massachusetts, Dartmouth.
http://www.marketingprofs.com/charts/2016/30947/are-fortune-500-and-inc-500-companies-using-instagram

July 2016

Fortune 500 Companies Search for Marketing Tools - July 2016
Email marketing is still very important component of marketing communications and sales
https://komarketing.com/industry-news/report-fortune-500-companies-focused-marketing-tools-july-2016/


What Marketers Can Learn from Fortune 500 Companies Mastering Instagram
http://www.toprankblog.com/2016/07/marketers-instagram/

March 2016
Only 17% of Fortune 500 Companies Actively Use Pinterest
http://www.socialmediatoday.com/social-networks/only-17-fortune-500-companies-actively-use-pinterest


The 2015 Fortune 500 and Social Media
http://www.umassd.edu/cmr/socialmediaresearch/2015fortune500/

June 2015
WHY AREN'T FORTUNE 500 COMPANIES BLOGGING?
16% of the Fortune 500 companies had public-facing RSS feeds in 2008
31% of the Fortune 500 companies had public-facing RSS feeds in 2014
https://www.tributemedia.com/blog/why-arent-fortune-500-companies-blogging


March 2015
59% of B2B Fortune 500 Companies Use Marketing Automation
https://www.clickz.com/59-of-b2b-fortune-500-companies-use-marketing-automation/26744/


September 2014
University of Massachusetts Dartmouth Center for Marketing Research releases a study of social media adoption among Fortune 500 companies every year

83% of the Fortune 500 have corporate Twitter accounts with a Tweet in the past thirty days. This represents a 6% increase since 2013.

80% of the Fortune 500 are now on Facebook. This represents a 10% increase in the last year alone.

In 2014, 31% of the studied companies had corporate blogs, showing a decrease of 3% in use of this content tool during the past year.
http://simplymeasured.com/blog/new-study-80-of-fortune-500-companies-active-on-facebook-and-twitter/#sm.00007txm35b3md84z3h22lon664y1

March 2014
Does a Fortune 500 company need a social media strategy?
(as of 2013, over two thirds of all F500 companies maintain active Twitter accounts, and almost as many have Facebook pages)
http://www.hellosoutherly.com/does-a-fortune-500-company-need-a-social-media-strategy/


July 2013

University of Massachusetts Dartmouth Social media activity report of Fortune Magazine’s Fortune 500 list  indicates that
34 percent of this year’s Fortune 500 companies are now actively blogging,
77 percent maintain active Twitter accounts,
70 percent have Facebook pages and
69 percent have YouTube accounts.
http://marketingland.com/fortune-500-companys-social-media-use-on-the-rise-52726


May 2012
How Fortune 500 Companies Use Social Media
Lot of statistics of that time
http://www.v3b.com/2012/05/how-fortune-500-companies-use-social-media/

March 16, 2017

Digital Marketing - Introduction, Evolution, Trends and Bibliography





https://www.thinkwithgoogle.com/

Gratner World Digital Marketing Conference 2015 Presentation
http://www.gartner.com/imagesrv/marketing/misc/gml1-b4-gml1_b4_118_sarner_mcguire_os.pdf

2015
https://www.accenture.com/_acnmedia/PDF-1/Accenture-and-Adobe-Unleashing-the-Power-Digital-Marketing.pdf

http://www.wipro.com/documents/mastering-the-digital-brand.pdf

https://www.infosys.com/digital/insights/Documents/digital-marketing.pdf

2012

Longitudinal Study of Digital Marketing Strategies Targeting Millennials
Journal of Consumer Marketing, Vol. 29, No. 2, (2012)
22 Pages Posted: 26 Oct 2016 Last revised: 23 Nov 2016
Katherine Taken Smith
Murray State University - College of Business
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2859146

https://www.atkearney.de/documents/856314/1214642/BIP_Digital_Marketing_Dont_Miss_the_Forest_for_the_Trees.pdf/8785e324-e319-4aa6-a9f6-9ea771915f2d


Training Programmes

http://executiveeducation.wharton.upenn.edu/for-individuals/all-programs/digital-marketing-strategies-for-the-digital-economy



India

https://www.worldmarketingcongress.org/images/50%20Most%20Influential%20Digital%20Marketing%20Leaders.pdf

March 15, 2017

A to Z of Digital Transformation of Business - Marketing, Production, Sales, Supply and Service



Digital Transformation - Definition


We define digital transformation as the integration of digital technology into all areas of a business resulting in fundamental changes to how businesses operate and how they deliver value to customers.
https://enterprisersproject.com/what-is-digital-transformation

Digital Transformation Articles - Collection from Blogosphere



2017


To Lead a Digital Transformation, CEOs Must Prioritize
Laurent-Pierre Baculard
JANUARY 02, 2017
https://hbr.org/2017/01/to-lead-a-digital-transformation-ceos-must-prioritize

Leaders have to recognize the opportunity of digital transformation and the threat if the organization ignores the opportunity because of disruptive innovations made by others.

They have to plan the new business entity as a separate department within the existing business, or as a separate business that is handled by all existing functions, or a separate division etc. Then they have to organize and provide resources. In the area of human resources, they either have to recruit from outside or develop the internal talent. In developing the internal talent, the leader's personal examples become important. Change requires effort to learn new things and leader's initiatives to learn and implement will become the role model for others in the organization to follow. While in the early days, the leader's personal guidance is required, slowly the leader has to empower people to do activities independently.

Which departments are digital transformation change agents?

Digital departments are now very common, with 81% of companies citing their existence. 40% have a formalized cross-functional workgroup employing four to five full-time employees.
http://www.huffingtonpost.com/vala-afshar/the-2016-state-of-digital_b_12074114.html


https://reports.weforum.org/digital-transformation/

Digital Transformation - 2016  articles



Digital Transformation - CMU Course Page - Syllabus

Digital Transformation in the Age of Customer  - Full Report
Digital Transformation of Industries - World Economic Forum White Paper January 2016
Digital transformation: The three steps to success - MKinsey Article
Using IoT Data to Understand How Your Products Perform
What does ‘digital transformation’ really mean? - Marketing Week Article
6 Predictions About The Future Of Digital Transformation

2016 State of Digital Transformation


A

B

Browse 100+ Books on Internet of Things - IoT Books
Business Analytics and Marketing Applications - 2016

C

D


Data Analytics - Driving Digital Transformation of Organization

Digital Oilfield of the Future

Digital Printing - Engineering Economic and Cost Analysis

Digital Transformation at Daimler Benz

Digital Transformation Books

Digital Transformation - CMU Course Page - Syllabus

Digital Transformation (DT) is a capstone course integrating the technical and managerial
aspects surrounding increased levels of digitization. As data starts to play a larger role in
managerial decision-making, what are the unique ramifications of these actions for
organizational dynamics? How can new information and communication technologies
(ICT) be deployed across an enterprise? What role does culture, organizational structure
and even adoption patterns play in understanding technology selection, user design and
how to derive value from technology? When analyzing DT, we need to examine change
from two perspectives:
• From a technology perspective: integration of new technologies, normalization of
data, and digitization of business processes.
• From a managerial perspective: new coordination and communication within and
across entities, new organizational forms, changing the information environment
underlying the business, and new incentive structures.
Successful efforts at digitization have to keep both technical and managerial perspectives in
mind. Using a collection of cases, this course will study how the deployment of ICT changes
interactions and processes within organizations, across organizations, within industries,
and across society

Cases discussed in the earlier Term

Case – ITC eChoupal (as a class)
Case – Dubai Port Authority (as a class)
Case –Security Breach at TJX
Case – VW in America
Case – Starbucks Mobile Payments
Case – Threadless, The Business of Community
Case - Project Hugo
Case – Newspapers
Case – Open vs. Closed Ecosystems – Nokia in 2010
Case – TV Disruption – Comcast Corporation

Digital Transformation in the Age of Customer - Full Report

Digital Transformation of Industries - World Economic Forum White Paper January 2016

Digital transformation: The three steps to success - MKinsey Article

E

F

G

H

I


Internet of Things - System Components
Internet of Things (IoT) - Very Big Business/Value Opportunity 2025
Introduction to Data Mining



J

K


L

M

Manufacturing System Digital Transformation and Reengineering


N

O

P

Q


R


S


T


The A-Z of digital transformation


U

Understanding Your Products Through IoT and Data Analytics
Using IoT Data to Understand How Your Products Perform

V

W

What is digital transformation?
What does ‘digital transformation’ really mean? - Marketing Week Article
What is Big Data and What are its Applications? - IBM Experts Explanation


X


Y


Z


Articles Starting with Numerals

2016 State of Digital Transformation

6 Predictions About The Future Of Digital Transformation


Updated 18 March 2017, 17 June 2016

March 13, 2017

Introduction to the Field of Operations Management - Review Notes


Planned Revision of Operations Management Chapters Starts on 16 March


The goal of operations management is wealth creation.
It is done by supplying quality goods and services effectively and efficiently


Role of Industrial Engineering in Operations Management


Industrial engineering contributes to operations management by increasing the efficiency of operations. Wealth creation round 1 is done by operations managers. Wealth creation round 2 is done by industrial engineers in operations systems.

Wealth creation is continuously done everyday by Shopfloor operators and their managers based on the designs and plans created by operations managers and industrial engineers.

Based on the Chapter 1 Introduction to the Field by Chase, Jacobs, Aquilano 12 Edition


The essence of operations management: creating great value to the customer while reducing the cost of delivering the good or service.

In the context of this book, "operations" refers to the processes that are used to transform the resources employed by a firm into products and services desired by the customers. "Supply" refers to how materials and services are moved to and from the transformation processes of the firm.

Great operations and supply management is essential to the success of the firm doing business in goods or services.

This subject will provide you knowledge of concepts and tools to be  employed by companies around the world to craft effective and efficient operations. Efficiency means doing something at the lowest possible cost.  We can also say the goal of an efficient process is to produce a good or provide a service by using the smallest input of resources.  Effectiveness mean doing the right things to create the  most value for the company. Managers are responsible for effectiveness first. They have to find what customers want and then make arrangement for producing those items. Effectiveness in enhanced by understanding customers' needs and designing products that are acceptable to them.

A business education is incomplete without an understanding of modern approaches to managing operations. Operations management (OM) provides a systematic way of examining organizational processes. OM presents interesting career opportunities and the concepts and tools of OM are widely used in managing other functions of a business.

While marketing uncovers needs of people in general and uncovers needs of people at a particular point and books orders for the goods and services, it is the operations function of a business firm that develops goods and services and produces and delivers them to customers at the place where they desire the delivery.


Other Explanations of Operations Management


MIT's Explanation of Operations Management.

Operations Management deals with the design and management of products, processes, services and supply chains. It considers the acquisition, development, and utilization of resources that firms need to deliver the goods and services their clients want.

http://mitsloan.mit.edu/omg/om-definition.php

University of Strathclyde, Glasgow

Operations management is a value-adding area of an organisation concerned with innovation, production and distribution of goods and services to customers whilst ensuring that the use of organisational resources remains efficient and effective.

http://www.strath.ac.uk/siom/whatis/



Chase, Jacobs, Aquilano - Earlier Editions


In this chapter in the book, the time frame of management decisions is discussed along with the different types of transformation processes. Services are compared to goods production with emphasis on the primary inputs, resources, the primary transformation functions, and the typical desired outputs in a variety of service and operations examples. Value-added services are also discussed along with their benefit to external customers.

Operations management is identified within the organizational chart and its role in the organization is defined. Chapter one presents a concept map and outlines the textbook chapters. The chapters are grouped by the key themes of strategic planning, project management, decision analysis, quality, supply chain management, and e-commerce.

The historical roots of the development of OM are traced from scientific management through the moving assembly line, the Hawthorne studies, and on to today's current manufacturing topics including supply chain management and e-commerce. This chapter concludes with current issues facing OM executives including effectively consolidating the operations resulting from mergers, developing flexible supply chains to enable mass customization of products and services, managing global suppliers, production, and distribution networks, increased commoditization of suppliers, achieving the service factory, and achieving excellent service from service firms.



What is Operations Management?


Operations managemetn (OM) is defined as the design, operation, and improvement of the systems that create and deliver the firm's primary products and services.

Operations management is a functional field of business with clear line management responsibilities. OM is frequently confused with operations research and management science (OR/MS) and industrial engineering. While all three are fields of management, both IE and OR/MS are staff management disciplines while OM is line management field. Operations management uses the tools of IE as well as OR/MS directly as well as indirectly through the project reports prepared by specialists, OM's role is distinct from these two disciplines.

Companies around the world desire effective and efficient operations. Operations managers design and operate the operations systems effectively and efficiently.

What is the difference between effectiveness and efficiency? 


Effectiveness mean doing right things that customers want to the specifications finalized by the organization. This effectiveness can be a daily issue in an organization producing custom products as the customer can keep on changing his requirement. The operations managers have to listen to the customer and agree on the specification and communicate the same to people in their works. Then they have to control the activity so that what is desired is getting produced. Effectiveness activities take significant time of managers. In production shops, a staff activity production planning and control helps production managers in ensuring the delivery of right product in right quantity at right time. So even in effectiveness activities, operations managers use staff specialists.

Efficiency means doing something at the lowest possible cost. Operations managers have to supply the agreed product at the lowest possible cost. They have the responsibility to make their operations efficient. So operations managers have to learn efficiency techniques and methods. Frederick Taylor emphasized efficiency along with effectiveness in his famous paper "Shop management". Industrial engineering is the discipline that emerged to take care of efficiency dimension of operations as a staff management discipline.

In operations management, three categories of decisions are taken.

Strategic (long-term) decisions
Tactical (intermediate-term) decisions
Operational planning and control (short-term) decisions

Strategic issues include what product (sevice) shall we make? How will we make the product? (technology decision) Where do we locate the facility or facilities? How much capacity do we build? Intermediate decisions can be thought of as annual plans, material purchase policies, staff levels adjustments and working capital support requirements for inventory financing. Operations decisions are daily machine dispatching decisions.




Chapter outline

Operations Management—A Critical Responsibility of Every Manager
Efficiency Defined
Effectiveness Defined
Value Defined

What is Operations Management?
Operations Management (OM) Defined

Transformation Processes
Transformation Process Defined
Differences Between Services and Goods

OM in the Organizational Chart

Operations as Service
Core Services Defined
Value-Added Serviced Defined

Why is Operations Not Perceived as Important?

Historical Development of OM
JIT and TQC
Mass Customization Defined
Manufacturing Strategy Paradigm
Service Quality and Productivity
Total Quality Management and Quality Certification
Business Process Reengineering

Supply Chain Management

Supply chain management is the name given to total system approach to managing the flow of information, materials, and services from raw material producers and suppliers through various factories and warehouses to the end customer of a consumer item or capital equipment or service.

A supply chain is a network of supply and operations processes. "Operations" refers to the processes that are used to transform the resources employed by a firm into products and services desired by customers. "Supply" refers to how materials and services are moved to and from the transformation processes of the firm.

From a company point of view Supply Chain manager is the former Works manager. The designation, works managers did not indicate his responsibility for supply chain even though he was handling that function in many companies. Designating his as Supply Chain Manager or as Supply Chain and Works Managers, will make him feel responsible for Supply Chain Design, Strategy and Operations.


Electronic Commerce

Current Issues in Operations Management

Case: Fast-Food Feast

Source
http://highered.mcgraw-hill.com/sites/0072983906/student_view0/chapter1/

McGraw Hill Operations Management Center

Presentation Slides - Field of Operations Management

Full chapter from Chase's Book

Summaries of all Chapters of Operation Management


Updated updated 16 March 2017,  2 Feb 2015,  3.12.2014, 10.2.2012

MBA Core Management Knowledge - One Year Revision Schedule

March 12, 2017

Productivity - Quotes



“Efficiency is doing better what’s already being done.” –Peter F. Drucker

“Improved productivity means less human sweat, not more.” –Henry Ford

“Productivity is being able to do things that you were never able to do before.” –Franz Kafka