Group presentation on

What is ManagementPresented by: Agedious Savio Mondal Alok Amit Ankit Panda Anushree Mazumdar Bharat Prasad Arif Ali

Topics To Be Presented - Step1:

SWOT analysis

Step-2Problems and their magnitude

Step-3Present limitations and

constraints, if any

Step-4Desired objectives short term, usually

Quantitative, specific targets

Step-5How to reach these objectives,

solveIdentified problems and within

knownlimitations?

Step-6Process of decision making by

using aCost-benefit analytical (CBA)

techniqueweigh alternative (s)

Top Level management and their responsibilities

Top level management consist of Managing Director,Board of directors, president.

Responsibilities :Making decisions affecting the entirety of the firm. Setting goals for the organization and direct the

company to achieve them.Responsible for the performance of the organization.

Problems faced by the top level management

Managerial problem can be described as the gap between a given current state of affairs and a future desired state.

The various problems and their magnitude in the top level management :

Communication GapOriginality and viability of information Low labour productivity

Internal aid to solve problems

Problem solving framework:

Problem solving may then be thought of as the process of analyzing the situation and developing a solution to bridge the gap. While it is widely recognized that different diagnostic techniques are appropriate in different situations.

Problem solving framework:

Problem identification

Problem verification

Problem defination

Root – cause analysis

Alternatives

Evaluation Of Alternatives

Implementation

control

Problem solving framework

Problem identification:a solid approach to problem solving begins with a solid

approach to problem identification. One of the most useful techniques is statistical process control (SPC)

Statistical Process Control :A well formulated SPC program serves to inform

managers when their operational processes are performing as expected and when something unexpected is introducing variation in process outputs.

Problem solving framework :

Problem verification:the need for verification is especially important when a manager is asked to step in and solve a problem that has been identified by someone else.

This can be done by the following technique:Forces at Work:• review the external pressures on the client arising from

suppliers, customers, competitors, technology shifts, and substitute products.

• document the direction and magnitude of any changes in the various pressures on the firm.

• review any internal changes, such as shifts in labor relations or changes in production technology.

• Finally, look at how the various factors are impacting the way the distributers, sells, and services of the products.

Problem solving framework

Problem definition:The next step in problem solving is to formally define the problem to be addressed.

Complex problems may be broken down and can be assigned seperately

recognize the scope of the problem which will drive the resource requirements of the problem solvers.

Establish the time frame.

Problem solving framework

Root cause of the analysis:the next step is for the problem solvers is to

identify the causes of the problem. The root cause is defined as that condition or event that, if corrected or eliminated, would prevent the problem from occurring

Alternative generation:Once the root causes of the problem have been

identified, the problem solver can concentrate on developing approaches to prevent, eliminate, or control them

Problem solving framework

Evaluation of the alternatives : evaluation of the effectiveness of alternative

solutions should be relatively straightforward.

This can be done by : Measuring the end result Consider the resources required Political consideration within the organisation Benefits and cost related to each alternative.

Problem solving framework

Implementation:

Regardless of how good the plan is, it is useless unless it is implemented. Therefore, once a specific course of action has been approved, it should continue to receive the necessary attention and support to achieve success. The work should be broken down into tasks that can be assigned and managed. Specific mile-stones with target dates for completion should be established.

Problem solving framework

Control :After implementing you need to check whether the implemented alternative is working in the desired way or not if any deviation further steps should be taken to control it.

There are various other internal aid which assists a top level manager in decision making and utilise to solve various prevailing problems : A management information system (MIS) extracts data from a database to

compile reports, such as sales analyses, needed for making routine decisions.

A decision support system (DSS) is an interactive system that collects and integrates data from multiple sources to assist in making non routine decisions.

To develop plans and make major decisions, managers may gather relevant, timely, easily understood information through an executive information system (EIS); an EIS provides ready access to strategic information that’s customized to their needs and presented in a convenient format.

An expert system (ES) mimics expert judgment by following sets of rules that experts would follow;

: External aid to solve problems

Change agents/management consultants :A person whose presence or thought processes cause a change from the traditional way of handling or thinking about a problem.

Management consultants help an organisation to improve their performance, primarily through the analysis of existing organisational problems and development of plans for improvement.

Suggested solutions

Increased Use Of Teams :A team is a group of individuals with complementary skills who work together to achieve a common goal. Additionally, teams tend to be more successful when tasks require speed, innovation, integration of functions, and a complex and rapidly changing environment

Outsourcing:Outsourcing occurs when an organization contracts with another company to perform work that it previously performed itself. Outsourcing is intended to reduce costs and promote efficiency.

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