What Management Is
-
Upload
thirumeninathan-murugan -
Category
Business
-
view
588 -
download
3
description
Transcript of What Management Is
![Page 1: What Management Is](https://reader036.fdocuments.in/reader036/viewer/2022062701/553884304a79591b688b47e7/html5/thumbnails/1.jpg)
a tour of new features
presenting
What Management is ?
![Page 2: What Management Is](https://reader036.fdocuments.in/reader036/viewer/2022062701/553884304a79591b688b47e7/html5/thumbnails/2.jpg)
1The book 2Key Insights
Scope
![Page 3: What Management Is](https://reader036.fdocuments.in/reader036/viewer/2022062701/553884304a79591b688b47e7/html5/thumbnails/3.jpg)
Mai
n Th
emes
Design
• Value Creation• Business Models• Strategy• Organization
Execution
• Facing Reality• Mission &
Measures• Innovation• Delivering Results• People
Management
![Page 4: What Management Is](https://reader036.fdocuments.in/reader036/viewer/2022062701/553884304a79591b688b47e7/html5/thumbnails/4.jpg)
Patt
ern
used
in th
e bo
ok Contemporary and historical Context
Pro and against Cases
Questions addressed
Key Insights
![Page 5: What Management Is](https://reader036.fdocuments.in/reader036/viewer/2022062701/553884304a79591b688b47e7/html5/thumbnails/5.jpg)
Design
![Page 6: What Management Is](https://reader036.fdocuments.in/reader036/viewer/2022062701/553884304a79591b688b47e7/html5/thumbnails/6.jpg)
Valu
e Cr
eatio
nManufacturing Mindset
Marketing Mindset
Value creation - a system
![Page 7: What Management Is](https://reader036.fdocuments.in/reader036/viewer/2022062701/553884304a79591b688b47e7/html5/thumbnails/7.jpg)
Valu
e Cr
eatio
n
Manufacturing mindset
Efficiency as focusMade large-scale manufacturing possible
Dehumanizing and deskillingNarrow in focus – inward looking – market dynamics not considered
![Page 8: What Management Is](https://reader036.fdocuments.in/reader036/viewer/2022062701/553884304a79591b688b47e7/html5/thumbnails/8.jpg)
Valu
e Cr
eatio
n
Marketing Mindset
Who is the customer
What customer wants / needs
How much will he pay
![Page 9: What Management Is](https://reader036.fdocuments.in/reader036/viewer/2022062701/553884304a79591b688b47e7/html5/thumbnails/9.jpg)
Valu
e Cr
eatio
nMaximizing shareholder value
Increased accountability of managementIncreased focus on customers to be successful
Quarter to quarter existenceCreative accounting practicesAbsence of long term ownership and org building initiatives
![Page 10: What Management Is](https://reader036.fdocuments.in/reader036/viewer/2022062701/553884304a79591b688b47e7/html5/thumbnails/10.jpg)
Valu
e Cr
eatio
nConcept of Value chain# discount brokerage# budget carriers
Managing the Supply chain# taking responsibility for the whole flora and fauna# building partnerships beyond organizational boundaries to tap
commercial value – value engineeringimprove efficiency (JIT)Increase predictability /security
Maximizing shareholder value
![Page 11: What Management Is](https://reader036.fdocuments.in/reader036/viewer/2022062701/553884304a79591b688b47e7/html5/thumbnails/11.jpg)
Valu
e Cr
eatio
n
Business
Customer
Employees Shareholders
Community
Value Creation – a system
![Page 12: What Management Is](https://reader036.fdocuments.in/reader036/viewer/2022062701/553884304a79591b688b47e7/html5/thumbnails/12.jpg)
Busi
ness
Mod
els
A successful business model
Some Compelling storiesAMEX ,Eastern ExclusivesEbay
Business Models for Non-ProfitElderhostel
![Page 13: What Management Is](https://reader036.fdocuments.in/reader036/viewer/2022062701/553884304a79591b688b47e7/html5/thumbnails/13.jpg)
Busi
ness
Mod
els
BusinessCustomer
Employees
Shareholders Community
Upstream Manufacturers
Downstream Franchisees
A successful business model – Key players
![Page 14: What Management Is](https://reader036.fdocuments.in/reader036/viewer/2022062701/553884304a79591b688b47e7/html5/thumbnails/14.jpg)
Busi
ness
Mod
els
Eastern Exclusives
Small Businesses (more reach)
Students (convenien
ce)
Hostel (reputation)
Eastern Exclusives
(gains brand value)
![Page 15: What Management Is](https://reader036.fdocuments.in/reader036/viewer/2022062701/553884304a79591b688b47e7/html5/thumbnails/15.jpg)
Busi
ness
Mod
els
Ebay
Sellers(more reach)(better price discovery)
Customers (convenience)
(value)
Ebay (no inventory)
(fee based model)
Small businesses (providing associated services)
![Page 16: What Management Is](https://reader036.fdocuments.in/reader036/viewer/2022062701/553884304a79591b688b47e7/html5/thumbnails/16.jpg)
Busi
ness
Mod
els
Elderhostel
Increase in AffluenceFocus on comfort
Trainings and
boarding at appropriate
cost
Provide a sense of
community
Low cost trainings
Provide a sense of
community
Low cost boarding
Less affluentFrugal life style
![Page 17: What Management Is](https://reader036.fdocuments.in/reader036/viewer/2022062701/553884304a79591b688b47e7/html5/thumbnails/17.jpg)
Stra
tegy
Better by being different
Strategy and Performance
Game of strategy
Strategic trade-offs
![Page 18: What Management Is](https://reader036.fdocuments.in/reader036/viewer/2022062701/553884304a79591b688b47e7/html5/thumbnails/18.jpg)
Stra
tegy
Key Insights
Perfect Competition Monopoly
![Page 19: What Management Is](https://reader036.fdocuments.in/reader036/viewer/2022062701/553884304a79591b688b47e7/html5/thumbnails/19.jpg)
Stra
tegy
Blue Ocean or Red Ocean - WalmartKey investment decisions to improve logistics
A pyrrhic victoryCase of Japanese Consumer Electronics manufacturer Too Successful - Dairy Farmers in UK
Moderation in success – prolonging success – prolonging the value capture
Mission creep TNC
Key Insights
![Page 20: What Management Is](https://reader036.fdocuments.in/reader036/viewer/2022062701/553884304a79591b688b47e7/html5/thumbnails/20.jpg)
Org
aniz
ation
Important Factors
Manage or buy
Global Scale
Non-profit – tackling societies problems
![Page 21: What Management Is](https://reader036.fdocuments.in/reader036/viewer/2022062701/553884304a79591b688b47e7/html5/thumbnails/21.jpg)
Org
aniz
ation
# Ronald Coase – Make or buy depends on cost effectiveness
# Does an efficient market always serve the intended purpose?# NBA
# GM vs Ford – Different times, different strokesFord – Assembly line 1908 - 1912Sloan – multi-division corporation 1940
# Standardization as design & Backward integration – Aravind Eye Hospital
# Design should match the mission
Key Insights
![Page 22: What Management Is](https://reader036.fdocuments.in/reader036/viewer/2022062701/553884304a79591b688b47e7/html5/thumbnails/22.jpg)
Execution – Key to Excellence
![Page 23: What Management Is](https://reader036.fdocuments.in/reader036/viewer/2022062701/553884304a79591b688b47e7/html5/thumbnails/23.jpg)
Faci
ng R
ealit
yMaking sense of the numbers
Plan
DoCheck
Act
# Measure should be an integral part# Different stakeholder require different measures# Measurements are a guide# should always be read in context
![Page 24: What Management Is](https://reader036.fdocuments.in/reader036/viewer/2022062701/553884304a79591b688b47e7/html5/thumbnails/24.jpg)
Mis
sion
and
Mea
sure
sIn search of the holy grail – the universal measure
ROI / EVA/ EBIT et al - measure to fit the context - matching measures to mission – case of Fidelity Insurance
ROIC – Case of Dell (return on invested capital)
Battling the broken windows – NYPD
Key Insights
![Page 25: What Management Is](https://reader036.fdocuments.in/reader036/viewer/2022062701/553884304a79591b688b47e7/html5/thumbnails/25.jpg)
Mis
sion
and
Mea
sure
sTNC – Fish creek projectMission – maintain bio-diversity -Save mussels
Key Insights
New Short term indicator- land under no-till method of
agricultureMedium term indicator – silt
levels in the riverLong term – size of mussell
population
Old measure - number of acres of land under
conservationFunds raised
![Page 26: What Management Is](https://reader036.fdocuments.in/reader036/viewer/2022062701/553884304a79591b688b47e7/html5/thumbnails/26.jpg)
Mis
sion
and
Mea
sure
sGE – Mission and Measures
Fix/close/sell
Customer satisfaction /
employee satisfaction /cash
flow
Redefine markets
Six-sigma
Shake up complacence
To improve confidence
To ensure that gaming of the system is reduced
As core philosophy of the organization
![Page 27: What Management Is](https://reader036.fdocuments.in/reader036/viewer/2022062701/553884304a79591b688b47e7/html5/thumbnails/27.jpg)
Inno
vatio
n &
Unc
erta
inty
Good management is entrepreneurialentrepreneur -> Anti-malthusian – optimistic-upbeat -> self-confident -> good management
Apollo13 – using constraints as catalysts – Nano?
Surviving the numbers – Payback / NPV/Discounted cash flow etc. – xerox and alto
![Page 28: What Management Is](https://reader036.fdocuments.in/reader036/viewer/2022062701/553884304a79591b688b47e7/html5/thumbnails/28.jpg)
Del
iver
ing
resu
ltsPareto’s law – 80 %results /20 %areas
Resource allocation – Fighting inertia– Intel’s story from DRAM to Processors
The discipline of letting go – ignoring sunk costs
Competing with yourself – beating yesterday
# walmart
![Page 29: What Management Is](https://reader036.fdocuments.in/reader036/viewer/2022062701/553884304a79591b688b47e7/html5/thumbnails/29.jpg)
Peop
le M
anag
emen
tManaging the organization culture
#setting an example# communications KISS# organizational folklore
The golden rule : Trust# verizon – actions and statements
Respect for the individual# as current and future stakeholders
# improves brand valueSelf management
# feedback & coaching