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 25, 2017

The Chief Supply-Chain-Management Officer - The New COO

The Chief Supply-Chain-Management Officer

Supply-chain management as an activity started only two decades ago. It started as a hotch-potch of a handful of disciplines that were not systematically linked.  However, in global companies,  separately handling the different aspects of SCM components, such as purchasing and warehousing, started to become expensive and ineffective. The challenge of cost reduction resulted in the rise of strategic sourcing and collaborative relationships with suppliers. CEOs thus looked for SCMOs who knew how to achieve cost efficiencies and possessed operational and outsourcing expertise. The relationships with the suppliers and distributors led to a chain development in real sense. Today, supply-chain management process links the chain  end to end: Planning, procurement, manufacturing/operations, and logistics are planned  together to devise economical solutions. The SCMO is expected to know all four functions thoroughly. He should be able to plan and to create an environment in which the multiple functions share knowledge and work together smoothly.

Sustainability is rapidly becoming an important concern  for executives who manage this function. Companies are finding that they can create and execute sustainability strategies throughout their supply chains, from suppliers to customers. So more and more SCMOs are being asked by their boards and CEOs to take up sustainability.

SCMOs will continue to pursue low costs  either through strategic or diverse sourcing, both onshore and off. They will need to manage long-distance logistics and transportation, taking into account unpredictable external factors that could have a major impact on costs, such as political instability or the price of oil. SCMOs will have to be technologically savvy and partner with CIOs to invent new ways for their companies to interact with customers and suppliers,

SCMOs will need to be big-picture thinkers who can participate in strategic and operational decisions at the highest level, in the C-Suite Conference Room. Since SCMOs will be active and equal members of the executive team, experience in running a business unit, managing a P&L, and interacting with customers will serve them well.

SCMOs will need experience in organizational design, which is a core management function. International experience will grow more critical in the job,  as global supply chains become more commonplace.

SCMOs will need to understand emerging markets and be ready to develop innovative solutions as some of the current solutions in the developed markets may not work in emerging markets, India being an important one.
HBR March 2011 Issue

March 24, 2017

Evolution of The Quality Management Philosophy and Practice

Till 1800, production of goods and services was primarily done by single person owned or family owned facilities. The quality of the item was negotiated and set by the individual owner-operator who was in turn also responsible for producing the item. This phase, which continued till Taylor's publication of Shop Management, that is the time period up to 1900, is now called the period of ‘Operator Quality Control’. In operator quality control,  controlling and improving quality of the product was aligned with the philosophy of pride in workmanship.

In the early days of factory of production, foreman became the most important managers of the factories. He is responsible for all management activities. So during the early days of factory production,  a second phase of quality management evolved, which is now termed as  the ‘Foreman Quality Control’ period.  Supervisors are now responsible to ensure that quality was achieved. We can imagine that he is doing some inspection. Also, the operator may not be directly talking to the customer now. Foremen or supervisors controlled the quality of the product, and they were also responsible for the shop floor operations.

The next phase of qual­ity is the ‘Inspection Quality Control’. With more complicated prod­ucts and processes it became impossible for the foreman to keep close watch over the quality dimension. Inspectors were assigned to check the quality of a product after processing. Individual product standards were set, and any discrepancies between standard and actual product features was reported. Defective items were set aside as scrap, and few items with minor defects are reworked to meet the specified standard or specification. This practice was picked up by Taylor, and inspection or quality foreman became one of the functional foremen in Taylor's functional foremanship model.  As we know, Taylor's function foremanship model was converted into line and staff model of management and inspection departments were established. They became very big also with plant level quality control or inspection head with many inspectors reporting to him.

In 1924, Wal­ter A. Shewhart of Bell Telephone Laboratories introduced the concept of statisti­cal charts to monitor variability of the process using measurements of product characteristics.  These charts were called process control charts. In the latter half of 1920s, H. F. Dodge and H. G. Romig, also from Bell Telephone Laboratories, proposed acceptance sam­pling plans for inspection. These plans proposed the concept of samples for inspection, thus elimination 100 percent inspection and saving inspection time. It is a productivity improvement innovation in inspection. But, it was stated that sample based inspection will give similar rate of outgoing quality as 100% inspection was giving. Industrial engineers adopted sample inspection plans in their productivity improvement practice. During 1930’s application of acceptance sampling plans was in full flow in industries. In 1929, Walter Shewhart with the help of American Society for Testing Materials (ASTM), American Society of Mechanical Engineers (ASME), American Statistical Association (ASA), and Institute of Mathematical Statistics (IMS) created the joint committee for the development of statistical techniques for application in engineering industries.

Total Quality Management: Focus on Six Sigma - Review Notes

March 23, 2017

A to Z of Management: Theory, Principles, Methods, Techniques, Tools and Practice

A to Z: Management -  Blog Posts by Narayana Rao

Letter "A"

1. Adoption of New Products and Processes
2. April - Management Knowledge Revision
3. Advertising

 Letter "B"

Brand Building Update 2015

Business Firm and Society - The External Environment, Social Responsibility and Ethics - Review Notes
Business Conceptualization - Management Insights from Economics, Engineering Economics, Managerial Economics, Industrial Economics

Letter "C"  -

Culture Change Management Process

Channels of Distribution
Letter "D" -

Distribution Warehouse

Discount Policy

 Letter "E"-

Efficiency Improvement - Need and Role of Industrial Engineering

 "F" -

Finance for Non-Finance Managers

 Letter "G" -

Goal Setting for MBO

Letter "H" -

Human Resource Training - Role of Indicated Reading Lists

 Letter "I" -

Innovation Marketing

 Letter "J" -

Job Design

Job Satisfaction

 Letter "K" -

Knowledge Management Software Packages

Knowledge Management
Letter "L" -

Location of Production Facilities

Leadership Development
Letter "M" -

Market Orientation

Make in India Campaign - Industry Sectors Information

Letter "N" -

Needs and Wants - Marketing Concepts

New Products
Letter "O"

Organizational Sociology


Letter "P"

Product Development


Letter "Q"

Quantitative Thinking for Management


 Letter "R"  -

Relaxation During Work Day - Recovering from Fatigue


Letter "S" -

Six Sigma - Zero Defect Movement Systematized


Letter "T"  -

The Role of Theory in Practice of Engineering and Management


Letter "U"  -

Understanding Marketing Productivity


Letter "V" -

Value Engineering - Recent Developments


Letter "W" -

Work-Methods Science

Waste Elimination

Letter "X"  -

X Reminds me of Theory X

Letter "Y" -

Y Reminds me of Theory Y

Letter "Z"  -

Z Reminds me of Theory Z

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

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.

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.

July 2016

Fortune 500 Companies Search for Marketing Tools - July 2016
Email marketing is still very important component of marketing communications and sales

What Marketers Can Learn from Fortune 500 Companies Mastering Instagram

March 2016
Only 17% of Fortune 500 Companies Actively Use Pinterest

The 2015 Fortune 500 and Social Media

June 2015
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

March 2015
59% of B2B Fortune 500 Companies Use Marketing Automation

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.

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)

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.

May 2012
How Fortune 500 Companies Use Social Media
Lot of statistics of that time

March 16, 2017

Digital Marketing - Introduction, Evolution, Trends and Bibliography

Gratner World Digital Marketing Conference 2015 Presentation



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

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