January 30, 2018

Work Force 4.0 - Industry 4.0 Work Force



What is required for Workforce 4.0?
December 13, 2017
http://workforceplanningtools.com.au/what-is-required-for-workforce-4-0/


Man and Machine in Industry 4.0
How Will Technology Transform the Industrial Workforce Through 2025?

SEPTEMBER 28, 2015
Markus  Lorenz , Michael Rüßmann , Rainer Strack , Knud Lueth , and Moritz Bolle
https://www.bcg.com/en-in/publications/2015/technology-business-transformation-engineered-products-infrastructure-man-machine-industry-4.aspx

WEF - Global Challenge Insight Report
The Future of Jobs
Employment, Skills and
Workforce Strategy for the
Fourth Industrial Revolution
January 2016
http://www3.weforum.org/docs/WEF_Future_of_Jobs.pdf

Advancing the Autonomous Workforce 4.0
January 4, 2018
Frank Groenteman. MBA
https://www.linkedin.com/pulse/advancing-autonomous-workforce-40-frank-groenteman-mba/

January 27, 2018

Public Administration - Bibliography






There are two broad views with regard to the nature of Public Administration, viz. (a) the Managerial View and (b) the Integral View:
http://vle.du.ac.in/mod/book/print.php?id=13704&chapterid=30481


Books on Public Administration


The Next Public Administration: Debates and Dilemmas

B Guy Peters, Jon Pierre
SAGE, 23-Oct-2017 - Political Science - 192 pages


Written by two of the leading scholars in the field, this book explores public administration in the past, present and future, critically reviewing the modernization of public management reform. It reasserts public administration as an integral component of democratic governance and fostering a state-citizen relationship.

Wide-ranging in scope, The Next Public Administration:

Extends basic public administration to consider issues associated with management, governance and democracy
Covers core public administration concepts and their evolution through time
Draws on an international spread of examples, bringing theoretical discussions to life
https://books.google.co.in/books?id=B7E1DwAAQBAJ


Public Administration: Political science, Public administration

CTI Reviews
Cram101 Textbook Reviews, 16-Oct-2016 - 40 pages


Facts101 is your complete guide to Public Administration. In this book, you will learn topics such as as those in your book plus much more. With key features such as key terms, people and places, Facts101 gives you all the information you need to prepare for your next exam. Our practice tests are specific to the textbook and we have designed tools to make the most of your limited study time.



Introducing Public Administration

Jay M. Shafritz, E. W. Russell, Christopher P. Borick, Albert C. Hyde
Taylor & Francis, 13-Sep-2016 - 632 pages


Now in an extensively revised 9th edition, Introducing Public Administration provides students with the conceptual foundation they need, while introducing them to important trends in the discipline. Known for its lively and witty writing style, this beloved textbook examines the most important issues in the field of public administration through the use of examples from various disciplines and modern culture. This unique approach captivates students and encourages them to think critically about the nature of public administration today. Refreshed and revised throughout, the 9th edition contains a number of imporant updates:

An examination of the effect of the administration changes on the discipline, especially economic and financial management and budgetary policy, allowing students to apply the theories and concepts in the text to recent US government practice.

An exploration of the 2008 economic meltdown and its consequences for the regulation of financial markets, cut-back management, and social equity, providing students with a critical look at the recent changes in the global economy.

All-new images, international examples, keynotes, and case studies have been incorporated to reflect the diversity of public servants throughout history.

New sections on careers in public service, whistleblowing and public employee dissent, networks and collaboration across organizations, social innovation, managerialism and productivity improvement, Big Data and cloud computing, collaboration and civic engagement, and evidence-based policy and management.
https://books.google.co.in/books?id=H0QlDwAAQBAJ

Blogs


http://publicadministrationtheone.blogspot.com

Digital Transformation In Finance Area and Financial Management





Finance Transformation in the Big Data Era
Published on Published onJanuary 27, 2018
Karen (Yan) Wang
EMBA,AAIA,Certified Green Belt, Senior Finance Manager at Honeywell
https://www.linkedin.com/pulse/finance-transformation-big-data-era-karen-yan-wang/


Finance in a digital world: It’s crunch time for CFO’s!
A series on digital transformation in finance
https://www2.deloitte.com/us/en/pages/finance-transformation/articles/finance-digital-transformation-for-cfos.html



________________


________________
EMAGIA CORPORATION
Published on 15 Nov 2016

January 23, 2018

Management Definition – Narayana Rao



Management Definition – Narayana Rao


Management of an organization is the process of establishing objectives and goals of the organization periodically, designing the work system and the organization structure, and maintaining an environment in which individuals, working together in groups, accomplish their aims and objectives and goals of the organization effectively and efficiently. (3rd December 2008)

Implications of the  Definition:

(i) Management is a process.
(ii) Management applies to every kind of organization, government, profit making, or nonprofit making.
(iii) It applies to managers at all levels in the organization.
(iv) Management is concerned with effectiveness and efficiency.

Effectiveness is producing the product or service the customer wants in business context with the required functional benefits and product attributes at the price he is willing to pay.
Efficiency is minimization of resources to produce the saleable output.



Oral Explanation of the Definition


________________________


________________________

January 22, 2018

Objectives and Goals - Review Notes

Koontz and O'Donnell state that they used objectives and goals as synonymous terms in the book.

Different authors provide different explanations for these concepts. I like the explanations that I studied. The explanation I narrate in this article is based on the treatment of the concepts in the book “Strategy and Policy: Concepts and Cases” by Thompson and Strickland, Business Publications, Texas, 1978.



Objectives



Objectives specify the results sought through the ongoing, long-run operations of the organization. These outcomes may consist not only of the desired results insofar as the organization's customer is concerned but also of what the organization perceives as the long range results it intends to achieve internally.

To have meaningful impact, objectives must be capable of being converted into specific targets and specific actions. They must give direction to the activity of the organization. They must set forth long-run organizational priorities. They must become the basis for work and for achievement. They must serve as standards against which performance is to be measured.

Since the role of objectives is to guide the concentration of resources and effort towards the desired ends, objectives should be selective. Objectives are needed in all areas on which the long-term survival and success of the organization depend. The important areas are:

1. Market
2. Technology
3. Innovation
4. Profitability
5. Efficiency
6. Resources
7. Social responsibility


The objectives of an organization may undergo revision over a period of time to meet changing circumstances.

Mission or Purpose



A business is defined by the want the customer satisfies when he buys a product or a service from a business organization.

To satisfy the customer (means to satisfy a specific want of the customer) is the mission and purpose of every business.

The question "What is our business?" can be answered only by looking at the business from the outside, from the view point of customer and market.

The purpose of a company has to be one of the wants of customers in the market.

The customer is not attached to any product, service or company. He wants to know what the product or service will do for him tomorrow. He is interested in his own wants, his values and his desires and world as he sees it. Therefore any serious attempt to define "what our business is" must start with the customer, his wants, his situation, his behavior, his expectations, and his values.

Therefore a searching enquiry needs to carried out to answer questions such as:

Who is our customer and what are his needs?
Where is the customer?
What does the customer buy?
Is it status? Comfort? Satisfaction of a physical need? An ego need? Security?

What is value to the customer?
Is it price? Function? Quality? Service? Economy of use? Durability? Styling? Convenience?

These questions plainly need to be posed and answered at the inception of a business and whenever it gets into trouble.

But even when the business is successful, the organizations have to examine their business purpose as the definition may become obsolete in the context of changes in the products and markets. The periodical examination of purpose in the light of customer studies and research will help the organization to look ahead and anticipate the impact of changes in the environment.

At any point of time, the purpose stated by the company has to be the answer to the question "What should our business be?" This question is periodically answered by the top management as a part of its setting the strategy for the future period.

A Hierarchy of Objectives

Objectives of an organization form a hierarchy. The zenith of the hierarchy is the socioeconomic purpose of society, that requires the organization to contribute to the welfare of the people by providing goods and services at a price that is affordable or people are willing to buy.


Objectives of an Organization - Explanation

_______________

_______________



Goals




The goals of an organization are the intermediate quantitative and qualitative "performance targets" which management seeks to attain in moving toward organizational objectives.

Thus whereas objectives are long range in nature, goals are short range. They serve to indicate the speed and momentum which management seeks to maintain in accomplishing the organization's objectives.

They direct the attention of both management and employees toward the desired standards of performance and behavior in the near term.

Illustrations of goals:

1. Our target is to have market share of 15 percent this year and 17.5 percent next year.

2. We seek to gain enough accounts this year to reach our goal of $50 million in assets under management.

Goals become the rallying point for coordinating the activities of subunits as they act as a basis for establishing common goalposts.

Acceptance of the objectives of the organization and goals derived there from promotes teamwork and a united approach to the working of the organization.


Updated 23 January 2018, 22 July 2014

January 21, 2018

The Process of Management

Management - Definition

Weihrich and Koontz defined Management and explained it as follows in the tenth edition of their book Management: A Global Perspective (p.4).

"Management is the process of designing and maintaining an environment in which individuals, working together in groups, effectively and  efficiently,  accomplish selected aims." This definition needs to be expanded:

1. As managers, people carry out the managerial functions of planning, organizing, staffing, leading, and controlling.
2. Management applies to any kind of organization.
3. It applies to managers at all organizational levels.
4. The aim of all managers is the same: to create a surplus.
5. Managing is concerned with productivity; this implies effectiveness and effciency.

Definition suggested by Narayana Rao

Management of an organization is the process of establishing objectives and goals of the organization periodically, designing the work system and the organization structure, and maintaining an environment in which individuals, working together in groups, accomplish their aims and objectives and goals of the organization effectively and efficiently (Narayana Rao). (3rd December 2008, Version 1 of this article)

The above definition was a modification of the definition given by Koontz and O'Donnell.

The definition implies the following.

(i) Management is a process.
(ii) Management applies to every kind of organization, government, profit making, or nonprofit making.
(iii) It applies to managers at all levels in the organization.
(iv) Management is concerned with effectiveness and efficiency.  Effectiveness is producing the product or service the customer wants in business context with the required functional benefits and product attributes at the price he is willing to pay. Efficiency is minimization of resources to produce the saleable output.

Functions of Management or Process of Management

Koontz and O'Donnell classified the functions of management or process of management into PLANNING, ORGANIZING, STAFFING, LEADING AND CONTROLLING.

Management is an art and it is doing things in the light of realities of a situation. The organized knowledge underlying this practice is referred to as science and this body of knowledge can be expressed through principles of management. This is the thought of Koontz and O'Donnell. Principles are identified for each function of management.

Also, the functions of managers provide a useful structure for organizing management knowledge that is expanding with the more and more research being carried out in the  management field under various approaches to study of management. All new ideas, research findings, and techniques can be placed in the classification of  PLANNING, ORGANIZING, STAFFING, LEADING AND CONTROLLING.

Planning

Every manager has to select objectives for his enterprise, department, section, unit or group. Based on the objectives he has to set goals for a specific period and make plans that contain ways of reaching the set goals. Planning in general is explained as generating alternatives and selection of the most suitable alternatives from among them for solving a problem. The problem in this context has positive connotation also. How to achieve growth is a problem which has a positive implication only.

Therefore planning is deciding in advance what to do, how to do it, when to do it, and who is to it. Planning bridges the gap from where we are to where we want to be in a desired future.

Planning involves decision making. It is selecting the courses of action that a company or any other enterprise, and every department of it, will follow.

Types of Plans

Managers create various types of plans as part of the planning activity.

Objectives

Objectives are the ends toward which the activity of an organization is aimed.

Goals
Goals represent the rate at which objectives of an organization are achieved. Goals quantify the objective with a time frame. For example, if a country has the objective of switching to unconventional sources of energy, the goals could specified as so many gigawatts of energy by end of year 2012. 
  
Grand strategies
According to R.N. Anthony strategies result from the processes  of deciding "on objectives of the organization", "on changes in these objectives", "on the resources used to attain these objectives", and "on policies that are to govern the acquisition, use, and disposition of these resources." The main meaning and usefulness of grand strategies are to describe a type of planning program of a broad nature which gives over-all direction to the other and more detailed programs of an enterprise.

The emphasis in grand strategies is on the pattern of basic objectives of the organization and goals and the major policies and plans for achieving them.

The purpose of grand strategy of an enterprise is to determine and communicate, through a system of major objectives and policies, a picture of what kind of enterprise is envisioned. A framework is given in the grand strategy which is a useful plan to guide company thinking.

Koontz and O'Donnell give the opinion that strategy is not a new type of plan actually. It is a program. But the concept of strategy is practically very useful and its importance in guiding detailed planning justify its separation as a different type of plan.

Competitive strategies
Competition exists where two or more persons strive for the same goals under conditions in which not all can gain from them. Competitive strategy is a plan made in the light of the plans of a competitor. The plans are made either with an estimate of plans or competitor or plan is a reaction to the strategic move of competitor either announced or executed.  To estimate the competitor's plans, a manager has to put himself in his competitor's place and develop a set of plans for his competitor, using the knowledge has regarding the objectives and the circumstances in which the competitor is operating. No doubt some industrial espionage will be tried to get an understanding of competitor's plans.

Policies
Policies are general statements which guide or channel thinking in decision making of subordinates. Policies delimit an area within which a decision is to be made and assure that the decision will be consistent with and contribute to objectives. Policies tend to predecide issues, and avoid repeated analysis. Polices are based on analysis and once pronounced avoid repeated analysis.

Procedures
Procedures are plans and they establish a method of handling activities. They specify a chronological sequence of required actions.

Rules
A rule is the simplest type of plan. A rule requires that a specific and definite action be taken or not taken with respect to a situation.

Programs
A program is a complex of policies, procedures, rules, task assignments assembled to carry out a given course of action. A program is supported by necessary capital and operating budgets.

Budgets
A budget is a plan for a specific period. We can say it is a period plan. It is goals of a period expressed in terms of resources required and output expected and authorized or agreed by the organization. It is a statement of expected results expressed in numerical terms

Organizing

Organization as envisaged by Fayol is the plan for material organization and people organization required to achieve the objectives of the organization. It could have been a part of the planning process. But it is a complex step and hence it is given as a separate function. Subsequent to Fayol, in the management text books material organization was not given any attention. All the attention has gone to people organization. This is a shortcoming of the management theory at this stage (2014).

Organizing is explained currently as  the grouping of activities necessary to attain the objectives, the assignment of each grouping to a manager with authority necessary to supervise it,and the provision for coordination horizontally and vertically in the enterprise structure.

Formal Organization and Informal Organization

Formal organization means the intentional structure of roles specified through  a formal organization structure chart.

Informal organization is any joint personal activity without conscious joint purpose, even though contributing to joint results (Chester Barnard).

Important concepts in organizing

1. Principles of span of control
2. Departmentation: By numbers, by time (shifts), by function, by territory, br product, by customer segment, by maketing channels, by process (in manufacturing).
3. Line and staff relationships
4. Delegation

Staffing

The managerial function of staffing is defined a filling positions in the organization structure through identifying work force requirements, inventorying the people available, recruitment, selection, placement, promotion, appraisal, compensation, and training of people.

Leading

The managerial function of leading is defined as the process of influencing people so that they will strive willingly and enthusiastically toward the achievement of organizational goals.

Important Concepts

Behavioral model of man
Motivation
Maslow's hierarchy of needs
McCleland's needs
Vroom's Expectancy Theory of Motivation
Reinforcement theory
Job enlargement
Job enrichment
Leadership
Styles of leadership
Managerial grid
Situation leadership or contingency theory of leadership
Communication

Controlling

The managerial function of controlling is the measurement and correction of performance in order to make sure that enterprise objectives and plans devised to attain them are accomplished. The control actions include planning once again, reorganization, new staffing decision and leading activities.

Control of overall performance refers to the assessment of higher level managers, managers of departments and profit centers.


Replace Staffing by Resourcing

Prof. Narayana Rao's suggestion in 2010

A Manager's Job is to get results through people and other resources. Hence acquiring all resources (including human resources) is a function of management. - Narayana Rao


The article explaining the suggestion was first published on Knol in 2010.

Koontz and O'Donnell outlined Planning, Organizing, Staffing, Directing and Controlling as the five functions of management and explained the process of management of these five functions.

In the place of staffing, using the word resourcing, could be a better description of management function at the current stage.

A plan to achieve something (objective) is to be  converted into an organizational plan that requires  resources (facilities and materials) and people. The manager has to acquire these resources to set up the organization to implement his plan. Acquisition of human resources is staffing. But normally in modern business, the manager has to acquire money resources or finance. Then, using capital and finance, he has to  acquire land, buildings, machinery, materials and various other services. Then comes directing and resource allocation (execution).





This article  supports the first lecture of Review of Research in Management

Updated   23 January 2018,  22 July 2014, 4 Feb 2012

January 19, 2018

Industry 4.0 Technologies Adoption - Guidelines for SMEs





Industry 4.0 is term for the application of a set of new technologies on production of goods. Germany has taken the lead in announcing the fourth industrial revolution.German machine and plant manufacturers are currently engaged in developing products and processes using the new technologies. Some perceive it as an opportunity to expand their business and some perceive it as a 
challenge to overcome and stay and succeed in business. Industry  4.0 is applicable in case of SMEs also. But definitely for SMEs, it is challenge to a greater extent. The challenge for small and medium businesses is first  the task of reducing the declared benefits  of Industry  4.0 technologies to viable
development stages that show tangible benefits for their own company research, development, design and production activities. The possible project ideas are to be quantified  monetarily into revenue/cost figures and cash inflow/outflow figures to do engineering economic analysis and financial analysis.


Industry 4.0 - Brief Introduction



Modern information and communication technologies are merging with production technologies to form new methods of design and production.  The information related to consumer and business products products in use and also information related to processes as they are performing the operations will be available in in real time at each stage of the supply chain through networking of all partners involved in the entire value-adding process. This can  lead to dynamic, real-time optimization,  self-organization, self-maintaining  cross-company networks.

In practical terms, the introduction of Industry 4.0 results in ability to adapt more individually to the needs of the customers and  offer a high variant diversity down to a batch size of 1 at prices close to mass production prices. The approaches of Industry 4.0 allow to build production networks that produce efficiently and effectively at low costs.

Industry 4.0 - Opportunity to Earn Additional Revenues and Profits 


 The technologies and the solution ideas so far discussed in the literature relating to Industry 4.0
are  paving the way for new product innovations, product-related services and improved production processes.  Thus Industry 4.0 can help companies to improve productivity and reduce costs of production. This can result in price decreases and increase in sales. Also, existing products can be improved and new products created with additional functionalities that increase sales due to  the enhanced usefulness and value contribution at the user end.

How to Adopt and Realize the Potential of Industry  4.0?


The technologies for comprising  the Industry  4.0 opportunity set are already available as technically feasible solutions. But the real benefits of Industry 4.0 revolution will only unfold through  a clever
combination of these technologies by product solution architects in various product segments. At the moment,  large number of companies are unaware of the road leading to the identification and successful combination of Industry  4.0 solution approaches. Industry, academic institutions and governments have to put in lot of effort to create useful frameworks to spread the adoption of Industry 4.0 and turn the anticipated/estimated/forecasted potential into reality.

The German mechanical engineering industry association has come out with a guide proposing a framework giving guidelines for adoption of Industry 4.0 concept by SMEs of German industry,

Objective of this guideline

The guideline is developed to  support small and medium sized companies of the German mechanical engineering industry in identifying potentials for products and production with a systematic process for using  Industry  4.0 set of technologies and in developing their own specific ideas in this respect. The guide presents a suitable procedure for direct application in any company.

The procedure in this guide is divided into five process steps.

Preparation > Analysis > Creativity> Evaluation> Implementation


Preparation phase

An in-depth knowledge of the products currently being produced and sold and the relevant market
and of  own production technology and process is the starting point for elaborating product ideas and
improving production. So preparation phase focuses on the knowledge regarding the current operations,  technologies and market conditions

Analysis phase

The analysis phase aims at identifying the expertise available in the company concerning Industry  4.0 technologies. The analysis may indicate the need for acquisition of additional knowledge and the company has to take steps to acquire sufficient knowledge by buying books, deputing personnel to seminars and also sponsoring personnel for e-learning courses. Plant visits may also be encouraged to develop understanding.

Creativity phase

The aim of the creativity phase is the generation of new ideas and the subsequent elaboration
of concepts for business models. The new ideas normally will be in the existing products or nearby product areas. Sometimes even totally different product ideas may come up.

Evaluation phase

The objective of this phase is the assessment of the proposed business models for strategic, business and financial fit.  For this purpose, the business models proposed have to be ranked according to their market potential or to their potential for production respectively as well as according to the required resources for implementation. The aim is to identify business models with a high market potential, low resource requirement,  and utilization of the company’s strengths.

Implementation phase

Finally, the project team makes recommendations of the projects for acceptance by  the company
management.

The five step procedure can be conducted as a workshop in SMEs and the result of the workshop
can be transferred to suitable Industry 4.0 projects for practical implementation.







January 18, 2018

Business Conceptualization - Management Insights from Economics, Engineering Economics, Managerial Economics, Industrial Economics



Every manager must have the ability or skills of identifying business opportunities and providing providing goods and services at profit in the light of the business opportunity.


Identifying and evaluating a business opportunity means demand is to be estimated. Economics subject has its special focus on analysis of consumer demand. Managers have to use the economics theory to come out with demand forecasts for potential businesses and existing businesses. Actually Philip Kotler, the celebrated author of the book Marketing Management, is an economist by education and he said he worked in marketing as marketing is economics.

In the economics subject,  production cost analysis is also undertaken. Ideas like economies of scale, marginal diminishing productivity etc. are important theories in production economics which are to be used by managers.

Economics has subareas which are more focused on specific issues related to businesses. Engineering economic analysis deals with the profitability analysis of income expansion and cost reduction expenditures proposed by engineers in the production systems. It can be used for expenditure or investment proposals made by any body like repairs to house or automobiles etc.  Even investment in  shares and bonds can be analyzed using methods of engineering economic analysis.

In managerial economics, Joel Dean described the application of economic analysis to many managerial decision making like advertising expenditures and pricing decisions when multiple products are there etc.

Industrial economics examines why certain industries have higher profit margins at a point time. Monopoly and Oligopoly may be the reasons for higher profits. Hence creating barriers to entry becomes a competitive activity for firms. But on the other hand, society tries to support more competition.

Managers have to acquire the relevant theories from various economics subjects and be on the lookout for new theories that support their work.

Even accounting tools are used in business conceptualization as proforma income statements, balance sheets and cash flows statements need to be prepared to submit to financial organizations to fund a business.

Economics - Revision Articles - Based on Samuelson's Book - List

Managerial Economics - Review Articles - List

Financial, Cost and Management Accounting - Review Notes List



Second article for revision for the day:
Peter Drucker - Business Organization - Economic Function - Social Responsibility
http://nraomtr.blogspot.com/2011/11/peter-drucker-business-organization.html

January Month Management Knowledge Revision Plan

MBA Core Management Knowledge - One Year Revision Schedule


Updated  19 January 2018,  22 Jan 2016,  30 Dec 2014

Scientific Management - Foundation and Development of the Approach



Focus of  Scientific management - Elimination of Inefficiency or Waste 


Scientific management has its focus on elimination of inefficiency or waste in various production activities. The remedy suggested is development of science for various production activities.  The focus of the approach can be understood from the following passages.


This paper has been written:

First. To point out, through a series of simple illustrations, the great loss which the whole country is suffering through inefficiency in almost all of our daily acts.

Second. To try to convince the reader that the remedy for this inefficiency lies in systematic management, rather than in searching for some unusual or extraordinary man.

Third. To prove that the best management is a true science, resting upon clearly defined laws, rules, and principles, as a foundation. And further to show that the fundamental principles of scientific management are applicable to all kinds of human activities, from our simplest individual acts to the work of our great corporations, which call for the most elaborate cooperation. And, briefly, through a series of illustrations, to convince the reader that whenever these principles are correctly applied, results must follow which are truly astounding.

This paper was originally prepared for presentation to the American Society of Mechanical Engineers. The illustrations chosen are such as, it is believed, will especially appeal to engineers and to managers of industrial and manufacturing establishments, and also quite as much to all of the men who are working in these establishments. It is hoped, however, that it will be clear to other readers that the same principles can be applied with equal force to all social activities: to the management of our homes; the management of our farms; the management of the business of our tradesmen, large and small; of our churches, our philanthropic institutions our universities, and our governmental departments.


Taylor gave four principles of scientific Management

Principles of Scientific Management


Under scientific management the "initiative" of the workmen (that is, their hard work, their good-will, and their ingenuity) is obtained with absolute uniformity and to a greater extent than is possible under the old system; and in addition to this improvement on the part of the men, the managers assume new burdens, new duties, and responsibilities never dreamed of in the past. The managers assume, for instance, the burden of gathering together all of the traditional knowledge which in the past has been possessed by the workmen and then of classifying, tabulating, and reducing this knowledge to rules, laws, and formulae which are immensely helpful to the workmen in doing their daily work. In addition to developing a science in this way, the management take on three other types of duties which involve new and heavy burdens for themselves.

These new duties are grouped under four heads:

First. They develop a science for each element of a man's work, which replaces the old rule-of.-thumb method.

Second. They scientifically select and then train, teach, and develop the workman, whereas in the past he chose his own work and trained himself as best he could.

Third. They heartily cooperate with the men so as to insure all of the work being done in accordance with the principles of the science which has been developed.

Fourth. There is an almost equal division of the work and the responsibility between the management and the workmen. The management take over all work for which they are better fitted than the workmen, while in the past almost all of the work and the greater part of the responsibility were thrown upon the men.

It is this combination of the initiative of the workmen, coupled with the new types of work done by the management, that makes scientific management so much more efficient than the old plan.

Increase in Management Effort Due to Scientific Management


The writer asserts as a general principle (and he proposes to give illustrations tending to prove the fact later in this paper) that in almost all of the mechanic arts the science which underlies each act of
each workman is so great and amounts to so much that the workman who is best suited to actually doing the work is incapable of fully understanding this science, without the guidance and help of those who are working with him or over him, either through lack of education or through insufficient mental capacity. In order that the work may be done in accordance with scientific laws, it is necessary that there shall be a far more equal division of the responsibility between the management and the workmen than exists under any of the ordinary types of management. Those in the management whose duty it is to develop this science should also guide and help the workman in working under it, and should assume a much larger share of the responsibility for results than under usual conditions is assumed by the management.

The body of this paper will make it clear that, to work according to scientific laws, the management must take over and perform much of the work which is now left to the men; almost every act of the workman should be preceded by one or more preparatory acts of the management which enable him to do his work better and quicker than he otherwise could. And each man should daily be taught by and receive the most friendly help from those who are over him, instead of being, at the one extreme, driven or coerced by his bosses, and at the other left to his own unaided devices.

This close, intimate, personal cooperation between the management and the men is of the essence of modern scientific or task management.

It will be shown by a series of practical illustrations that, through this friendly cooperation, namely, through sharing equally in every day's burden, all of the great obstacles (above described) to obtaining the maximum output for each man and each machine in the establishment are swept away. The 30 per cent to 100 per cent increase in wages which the workmen are able to earn beyond what they receive under the old type of management, coupled with the daily intimate shoulder to shoulder contact with the management, entirely removes all cause for soldiering. And in a few years, under this system, the workmen have before them the object lesson of seeing that a great increase in the output per man results in giving employment to more men, instead of throwing men out of work, thus completely eradicating the fallacy that a larger output for each man will throw other men out of work.

It is the writer's judgment, then, that while much can be done and should be done by writing and talking toward educating not only workmen, but all classes in the community, as to the importance of obtaining the maximum output of each man and each machine, it is only through the adoption of modern scientific management that this great problem can be  finally solved. Probably most of the readers of this paper will say that all of this is mere theory. On the contrary, the theory, or philosophy, of scientific management is just beginning to be understood, whereas the management itself has been a gradual evolution, extending over a period of nearly thirty years. And during this time the employees of one company after another, including a large range and diversity of industries, have gradually changed from the ordinary to the scientific type of management. At least 50,000 workmen in the United States are now employed under this system; and they are receiving from 30 per cent to 100 per cent higher wages daily than are paid to men of similar caliber with whom they are surrounded, while the companies employing them are more prosperous than ever before. In these companies the output, per man and per machine, has on an average been doubled. During all these years there has never been a single strike among the men working under this system. In place of the suspicious watchfulness and the more or less open warfare which characterizes the ordinary types of management, there is universally friendly cooperation between the management and the men.

Scientific management resulted in development of number of methods, techniques and tools. It was incorporated as an approach in all management textbooks. The techniques and tools were covered in detail in production management textbooks. It also led to the development of Industrial Engineering as a discipline that is related to scientific management in engineering activities with engineering knowledge as the base for technical skills for accomplishing the task. Industrial engineer can be employed by managers to take care of the efficiency dimension of their managerial responsibility.


References


The Principles of Scientific Management

http://nraoiekc.blogspot.in/2013/08/importance-of-national-efficiency-fw.html

http://nraoiekc.blogspot.in/2013/08/scientific-management-introduction.html


Contribution of F.W. Taylor - Shop Management and Scientific Management
The papers classified into topics for easy understanding.

Biography of F.W. Taylor - Very Brief



Principles of Industrial Engineering - Taylor-Narayana Rao


Principles of Industrial Engineering were developed from the principles of scientific management by Prof K.V.S.S. Narayana Rao. They were Presented in the conference at NITIE (NCIETM) on 18 November 2016 at Mumbai India.

1. Develop science for each element of a man - machine system's work related to efficiency and productivity.
2. Engineer methods, processes and operations to use the scientific laws related to the work of machines, man, materials and other resources to improve economic efficiency and productivity.
3. Select or assign workmen based on predefined aptitudes for various types of man - machine work.
4. Train workmen, supervisors, and engineers in the new methods, install various modifications related to the machines that include productivity improvement devices and ensure that the expected
productivity is realized.
5. Incorporate suggestions of operators, supervisors and engineers in the methods redesign on a continuous basis.
6. Plan and manage productivity at system level


Expanded List

The six basic principles of industrial engineering were further expanded.

Principles of Industrial Engineering - Narayana Rao - Detailed List

Clicking on the link will take you to more detailed content on the principle




The full paper on the principles by Prof. K.V.S.S. Narayana Rao is now available for downloading from IISE 2017 Annual Conference site in prepublished format.


Presentation on Principles of Industrial Engineering First made by Dr. Narayana Rao on 23 May 2017 in IISE Annual Conference, Pittsburgh, USA.
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Article Part of January Revision Plan


MBA Core Management Knowledge - One Year Revision Schedule

Second Article of the day for revision: Evolution of Management Thought and Theory



Updated  19 January 2018,  18 January 2017, 18 Jan 2016, 30 Dec 2014


January 4, 2018

The Most Popular Management Articles of 2017






MBA Core Management Knowledge - One Year Revision Schedule and Articles



The Most Popular  Management Articles of 2017 in Various Management Publications



Taylor - Narayana Rao Principles of Industrial Engineering

Presented in 2017 - Original Contribution in Industrial Engineering with Primary Focus on Productivity in Engineering Industry
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By 2020 AI will create more jobs than it eliminates, predicts Gartner
Lindsay James By Lindsay James on 18 December 2017
http://www.technologyrecord.com/Article/by-2020-ai-will-create-more-jobs-than-it-eliminates-predicts-gartner-62404


Harvard Business Review


2017 Best of Harvard Business Review


 "Customer Loyalty Is Overrated,"  A.G. Lafley and Roger L. Martin;
https://hbr.org/2017/01/customer-loyalty-is-overrated

"Noise: How to Overcome the High, Hidden Cost of Inconsistent Decision Making,"  Daniel Kahneman, Andrew M. Rosenfield, Linnea Gandhi, and Tom Blaser;
https://hbr.org/2016/10/noise

"Visualizations That Really Work,"  Scott Berinato;
https://hbr.org/2016/06/visualizations-that-really-work

"Right Tech, Wrong Time,"  Ron Adner and Rahul Kapoor;
https://hbr.org/2016/11/right-tech-wrong-time

"How to Pay for Health Care,"  Michael E. Porter and Robert S. Kaplan;
https://hbr.org/2016/07/how-to-pay-for-health-care

"The Performance Management Revolution,"  Peter Cappelli and Anna Tavis;
https://hbr.org/2016/10/the-performance-management-revolution

"Let Your Workers Rebel,"  Francesca Gino;

"Why Diversity Programs Fail,"  Frank Dobbin and Alexandra Kalev;

"What So Many People Don't Get About the U.S. Working Class,"  Joan C. Williams;

"The Truth About Blockchain,"  Marco Iansiti and Karim R. Lakhani;

"The Edison of Medicine,"  Steven Prokesch, January–February 2017

https://books.google.co.in/books?id=VBZuDgAAQBAJ&printsec=frontcover#v=onepage&q&f=false

MIT Sloan Management Review


The 20 Most Popular MIT Sloan Management Review Articles of 2017



1. The Jobs That Artificial Intelligence Will Create
A study by Accenture on new categories of jobs that will emerge as AI is deployed.

2. Reshaping Business With Artificial Intelligence
Report from MIT Sloan Management Review and the Boston Consulting Group.


3. Analytics as a Source of Business Innovation
This 2017 MIT Sloan Management Review report on data and analytics.


4. The Smart Way to Respond to Negative Emotions at Work
Author Christine M. Pearson

5. Achieving Digital Maturity
2017 report on digital business by  MIT SMR and Deloitte.



6. The Most Underrated Skill in Management
Nelson P. Repenning, Don Kieffer, and Todd Astor - The discipline of clearly articulating the problem you seek to solve before jumping into action.

7. How Big Data Is Empowering AI and Machine Learning at Scale
Big Data is powerful on its own, as is artificial intelligence. What happens when the two are merged?

8. The End of Corporate Culture as We Know It
MIT SMR editor in chief Paul Michelman

9. Why Design Thinking in Business Needs a Rethink
Authors Martin Kupp, Jamie Anderson, and Jörg Reckhenrich

10. Turning Strategy Into Results
Leaders can translate the complexity of strategy into guidelines that are simple and flexible enough to execute.

11. Your Company Doesn’t Need a Digital Strategy
George Westerman,  MIT: In digital transformation, digital is not the answer. Transformation is.

12. Corporate Sustainability at a Crossroads
MIT Sloan Management Review and the Boston Consulting Group - Companies can develop workable — and profitable — sustainability strategies to reduce their impact on the global environment by incorporating eight key lessons.

13. What to Expect From Artificial Intelligence
Advances in artificial intelligence are likely to change the workplace — and the work of managers.

14. ‘Digital Transformation’ Is a Misnomer
Gerald C. Kane, Pprofessor of information systems at the Carroll School of Management at Boston College -    "
It’s helpful to think of digital transformation as “continual adaptation to a constantly changing environment.”

15. The Five Steps All Leaders Must Take in the Age of Uncertainty
Corporate executives need to become active influencers within broader systems to realize more desired state of affairs in the business environment.

16. Harnessing the Secret Structure of Innovation
Companies can improve their odds of sustained success by taking advantage of information about the unfolding innovation process (Science of Innovation).

17. Five Myths About Digital Transformation
Villanova University professor Stephen J. Andriole, Professor, Villanova University - Grasp the realities of digital transformation — Don't getting seduced by the hype - Realize the myths.

18. 12 Essential Innovation Insights
Dozen of the best insights on innovation.

19. How to Monetize Your Data
Thoughts on  figuring out how to derive a profit from the massive data being collected inside and by others outside.

20. How to Thrive — and Survive — in a World of AI Disruption
MIT Sloan Professor Erik Brynjolfsson - It is world with rapidly changing work - accept it and develop new skills as an organization and also as an individual


https://sloanreview.mit.edu/article/the-20-most-popular-mit-sloan-management-review-articles-of-2017/


California Management Review

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California Management Review upload
https://www.youtube.com/channel/UCKXvPGqxAlIFgkttRSTEQAA


Top YouTube Videos Related to Management 2017



Upgrading management technology | Leerom Segal
320k views in 2017
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Andrew Ng: Artificial Intelligence is the New Electricity
https://www.youtube.com/watch?v=21EiKfQYZXc&t=112s
259k views


Sri Rama's Life - A Lesson in Inner Management
https://www.youtube.com/watch?v=NxwspcPEi8U
143,350 views



Act Like the Leader You Want to Be
https://www.youtube.com/watch?v=WsZAx20Ui_A
83k views


Just Say "Yes" to Challenges for Success - Eric Schmidt, Executive Chairman, Alphabet Inc
https://www.youtube.com/watch?v=Bh804pcy5sc
70k views


LinkedIn CEO Jeff Weiner on Compassionate Management
https://www.youtube.com/watch?v=7h9esSsOLDE
49k views


Important Management Books of 2017


Competing on Analytics: Updated, with a New Introduction: The New Science of Winning
Thomas Davenport, Jeanne Harris
Harvard Business Press, 29-Aug-2017 - Business & Economics - 320 pages
https://books.google.co.in/books?id=LW9GDgAAQBAJ


January 2, 2018

MBA Core Management Knowledge - One Year Revision Schedule

BEST WISHES FOR A HAPPY AND PROSPEROUS 2018

Remember The Best Events of 2017 and Feel Happy. Feel Good About Past and Hope will Appear for the Future


Positive events provide energy to do good - Positive thoughts beget positive resolve, positive resolve takes you forward towards auspicious results - India Prime Minister, Narendra Modi





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 -  January  - Revision for the Year starts on 15 January 2018  


Plan for Each Month


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




Articles Written for  April A to Z Blogging Challenge 2017 


Theme - Top Management Challenges.


Article 1: Awareness of Environment
http://nraomtr.blogspot.com/2017/04/awareness-of-environment.html




Updated 4 January 2018,  1 April 2017.  22 February 2017,  10 December 2015