August 11, 2018

The Institute of Administrative Management (IAM) - UK - Since 1915


The Institute of Administrative Management (IAM) is one of the oldest management institutes in the UK, having inspired professional business managers and administrators since 1915.

Our focus is on developing professional administrators, administrative managers and managers.

What is Administrative Management?
Administrative management is at the heart of every successful organisation playing an essential role to ensure that businesses run smoothly.

It involves all types of business management and administration. Any middle or senior manager who is involved in the planning, co-ordinating, directing, or controlling aspects of a business can be considered an administrative manager. Administrative managers ensure there is effective information flow and that resources are employed efficiently across an organisation.








http://www.instam.org/Learning-Overview

The Practice of Social Science in Organizations - A Review


Working Across the Gap: The Practice of Social Science in Organizations

Lisl Klein
Routledge, 30-May-2018 - Psychology - 289 pages


The author's experience of applying the social sciences in organizations must be unique. Her work is grounded in research but much of her professional activity has been in application, combining the methods and findings of research with an understanding of dynamics in working with organizations. Moving between research and practice she has, for nearly forty years, pursued the aim of rendering the social sciences useful and practical in organizational life.

This collection of papers brings together wide-ranging material that is highly relevant to today's world, whilst also providing a useful historical overview of the field.

https://books.google.co.in/books?id=EdtdDwAAQBAJ

New Forms of Work Organisation

Lisl Klein, Dave Klein
CUP Archive, 15-Apr-1976 - Business & Economics - 106 pages
https://books.google.co.in/books?id=Jjg9AAAAIAAJ

August 10, 2018

Resourcing - A Function of Management - Knol Post March 2010

Resourcing - A Function of Management

Authors

  • Narayana Rao

Contributers

  • Sajid Khan
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 has resources,  facilities 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 he has to  acquire land, buildings, machinery, materials and various other services. Then comes directing and resource allocation.

During control phase, replanning takes place, reorganization can take place, resource adjustment (resource acquisition or disposal) may take place, and redirecting may take place to achieve the goals set forth for a period.

Planning involves choosing a direction and an intermediate destination. It has to be a profitable and a useful endeavor. In the process of planning cost benefit analysis is done.  Organizing follows and the means by which one reaches the chosen destination is defined during this activity of management.

Organizing is a process of
  • determining, grouping and structuring activities
  • creating roles for individuals for effective performance at work
  • allocating necessary authority (over resources) and responsibility for results for each role
  • determining detailed procedures and systems for different problem areas such as coordination, communication, decision-making, motivation, conflict resolution and so on.

The resources required to achieve a goal are to be identified during the organizing step of management. How many operators are required and how many supervisors are required is a function of technology employed in the organization and this decision has to be taken during the process of organization. Resourcing follows the organizing phase in the acquiring of the resources planned in the organizing phase. Organizing this way is just the planning stage. Resourcing is the stage during which all resources planned in the organizing stage are acquired by the manager.
 
_______________________________________________________________________________________
 

Resource Planning  

 

Resource planning is an economic decision and entrepreneurs have to use it. It is discussed adequately in economics.

Choice of Inputs by the Firm

Every firm or entrepreneur has to decide how much of each input it should employ: how much labor, capital, land, energy, various materials and services.

The fundamental assumption that economists make in this context is that of cost minimization. Firms are expected to choose their combination of inputs so as to minimize the total cost of production.

Least-cost Rule: To produce a given level of output at the least cost, a firm will hire factors until is has equalized the marginal product per dollar spent on each factor of production. This implies that

Marginal product of labor/price of labor  = Marginal Product of Capital Equipment/Price of capital equipment = ...

Thus the firm will choose a factor combination or resource combination that minimizes the total cost of production.  (Source: http://knol.google.com/k/narayana-rao-k-v-s-s/economic-theory-of-production-and/2utb2lsm2k7a/228)

 
 
_______________________________________________________________________________________
 

Recognition of Role of Resources in Management Process by Various Authors of Principles of Management or Management Process Books

 

Ernest Dale

 
Goals and Resources
 
Once objectives have been set,the planners must decide how far they can proceed toward them in view of the resources available, which include the money on hand, the money that sales will bring, and the funds that may be obtained by borrowing or selling equities. The decision to borrow or sell new stock will, of course, be part of the planning process and will depend on the return expected on the investment.
 
Finally, the planners must decide on the allocation of the funds to the various company activities and the way in which these funds will be used to generate greater income in the form of sales.  The volume of sales is, in fact, the key factor in all corporate planning.
 
Ernest Dale, Graduale School of Business, University of Virginia, Management: Theory and Practice, McGraw-Hill Book Company, New York, 1965, p.352, Chapter 22. Planning and Forecasting.
 
 
 
 
An intersting entry in Wikipedia - Resource Management
 
In organizational studies, resource management is the efficient and effective deployment for an organization's resources when they are needed. Such resources may include financial resources, inventory, human skills, production resources, or information technology (IT). In the realm of project management, processes, techniques and philosophies as to the best approach for allocating resources have been developed. These include discussions on functional vs. cross-functional resource allocation as well as processes espoused by organizations like the Project Management Institute (PMI) through their Project Management Body of Knowledge (PMBOK) methodology to project management. Resource management is a key element to activity resource estimating and project human resource management. Both are essential components of a comprehensive project management plan to execute and monitor a project successfully
 
Source:   http://en.wikipedia.org/wiki/Resource_management
 
 
 
________________________________________________________________________________________
 
Resourcing and Resouce Planning Departments
Office of Resource Planning, Universit of Regina
http://www.uregina.ca/orp/
 
 
_______________________________________________________________________________________

Comments

Short urls

http://knol.google.com/k/-/-/2utb2lsm2k7a/2345

Narayana Rao - 15 Apr 2011

short term vs. long term resourcing practice

Seems to be a good analysis or operational resourcing,
but I think there is also strategical resourcing,
which supposes to allow that in long term there be
no shortage or glut of any resource, and that take
into account expected evolutions in risk and prospects.

There might be a conflict between the two aspects.
A compromise would be to have some flexibility,
to starve some resources that are presently needed
for some activities but that might become a weight
in the future if those activities that are going
to shrink (or can be sensitive to an economic
downturn, or to a marketing or technology change)
and to have more resources than presently needed
for activities that have a bright future, just to
be prepared.

In other word, resourcing should be risk oriented
and prospect oriented, and take into account the
"product life cycle"
There is an article that might help in my site:
http://pagesperso-orange.fr/pgreenfinch/eanprosp.htm
Peter Greenfinch - 04 Mar 2010
Yes, let us accumulate some material and try to develop a knol.

I am also thinking of the trust capital. Resources will not come to an aspiring manager or an entrepreneur unless he has that trust capital. The providers of resources have to trust his ability to take care of their interests. Management books have to emphasize this point in principles of management books. Customers also will not come and suppliers on credit also will not come. Even employees will not join.

We know many of us joined knol because we had trust in google management.
Narayana Rao - 04 Mar 2010
OK, although I don't think I would be the best one to write such a knol. Maybe we try something collaborative instead. At the moment I would add a couple of ideas.
* The resource to optimize in priority is the scarciest and costliest one, now or in the future. For example energy is becoming costlier and scarcer.
* A resource which is getting more and more important in many activities is immaterial, it is the "knowledge + innovation + trust capital". This is often the main element of a business "goodwill" even if it does not show in its accounts. That immaterial part just skyrocketted for Apple an went to the dogs for Toyota.
* To find resources involves several Departments in a firm : finance, procurement, human resources, but they should not work alone, about every manager in the firm should contribute to combine and optimize those resources.
* Oh, I was going to forget, the main resource of a business is its customers.
Peter Greenfinch - 03 Mar 2010
Very interesting. I suggest that you write a detailed knol on how to determine the optimal resource combination. My thrust is presently on the point that in management process description, resourcing comination decision and resourcing activity have to be brought out prominently. How to take resource combination decisions could be a big area and a detailed knol by people with background in management would be a good addition to online article base.

I am presenly going through books on management process to find out their treatment of this topic. I found a paragraph in Ernest Dale's book on goals and resources in corporate planning chapter. I need to collect such small paragraphs from various books first to present an argument on how it has to be incorporated in more detail in the introduction to management books.
Narayana Rao - 02 Mar 2010

Learning Organization



https://blog.shingo.org/2018/08/build-a-learning-organization-a-new-principle-in-cultural-enablers/


The authors reports an increase in performance after ten years in two companies.  Both companies report that they experienced steady productivity gains of 10% or a little more, compounded year-over-year over a 10-15 year time period. Both reported that in the past two to three years they experienced an inflection point, where the productivity gains jumped from the steady 10% or a little more to 15-20% productivity gains. An astonishing performance.

Both companies attribute the reason for this inflection point to  the level of learning  achieved by their associates. Now many of them  can identify problems, solve problems, and implement changes so quickly and independently and thus more associates are driving the productivity gains.

August 8, 2018

Resourcing Projects


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 (2010)

http://nraomtr.blogspot.com/2012/03/resourcing-function-of-management.html


Estimating and Resourcing
in
The Project Management Book: How to Manage Your Projects To Deliver Outstanding Results
Richard Newton
Pearson UK, 2013 - Business & Economics - 296 pages


The Project Management Book addresses the real-life scenarios and issues that anyone responsible for managing a project is likely to face on a day to day basis.  It provides solutions to the everyday issues involved in managing projects.



https://books.google.co.in/books?id=vC4yiPcyiW8C&pg=PT48#v=onepage&q&f=false

Estimating is the process of determining how much time and resources a project requires.
Resourcing is the subsequent process of identifying, acquiring and allocating the right resources in the project.


Being able to estimate the resources required to run a project and gaining access to those resources are central to managing projects.

Resource Planning


Special understanding required by Persons working in Projects


Project human resources have to understand the nature of the project and work accordingly. There is fluctuation in the amount of work demanded by a project. The work can be very light sometimes and very heavy at other times. People must be ready to take up the extra work whenever it arises because project time limits are fixed and the customer is one unlike the delivery times of routine operations where multiple customers share the output.

So when acquiring the human resources for the project, project managers has to evaluate whether the person concerned has understanding of the project work nature and whether he is willing to work in that context.



In an online article  http://systeme.ie/the-project-mindset/  the following are specified to evaluate a person for project based work.

1. The ability to cope positively with change
2. Commitment to milestones and  willingness to dig deep to complete a milestone
3. Must be ready to face surprises and should not react in frustration to every surprise that is encountered on a project
4. The Capability to move roles and/or work multiple roles to get the job done
5. The ability to switch off and chill after a period of high intensity working
6. Must not take any work-related discussions personally
7. Can keep focused on the end goal
8. Believe the end goal is possible
9. Can support the team to deliver the scope at all costs


Estimating the science of uncertainty

Meyer, W. G. (2016). Estimating: the science of uncertainty. Paper presented at PMI® Global Congress 2016—EMEA, Barcelona, Spain. Newtown Square, PA: Project Management Institute.

Estimation is at the heart of most project disciplines, and project cost and time overruns can often be traced back to inaccurate estimates.

Estimation requires human involvement to create a forecast that considers past projects, personal experience, and industry-specific knowledge and techniques. But the process of estimation is often subject to biases by the estimator.

This paper explores the problem of estimation inaccuracies from a cognitive psychological perspective. It looks at various research studies about the way in which the human brain deals with forecasting, and makes recommendations on how estimates can be improved.
https://www.pmi.org/learning/library/estimating-science-uncertainty-10186

http://blog.method123.com/2009/11/16/resourcing-projects/#!prettyPhoto

http://www.epmbook.com/resourcing.htm

https://www.nationalcollege.org.uk/transfer/open/csbm-development-module-2-planning-and-leading-projects-in-schools/dm2-s3/dm2-s3-t6.html

Estimating and Resourcing 

in
The Project Management Book: How to Manage Your Projects To Deliver Outstanding Results
Richard Newton
Pearson UK, 2013 - Business & Economics - 296 pages


The Project Management Book addresses the real-life scenarios and issues that anyone responsible for managing a project is likely to face on a day to day basis.  It provides solutions to the everyday issues involved in managing projects

https://books.google.co.in/books?id=vC4yiPcyiW8C&pg=PT48#v=onepage&q&f=false


Practice Standard for Project Estimating
By Project Management Institute
2011
https://books.google.co.in/books?id=OuauDgAAQBAJ

Leveraging the new practice standard for project estimating
Kanabar, V. & Warburton, R. D. H. (2011). Leveraging the new practice standard for project estimating. Paper presented at PMI® Global Congress 2011—North America, Dallas, TX. Newtown Square, PA: Project Management Institute.
https://www.pmi.org/learning/library/leveraging-new-practice-standard-project-estimating-6222

Updated on 9 August 2018, 15 April 2017

August 4, 2018

Qualitative Research - Use in Business Research



Applications of Qualitative Research in Business


Job Analysis
Advertising Concept Development
Productivity Enhancement
New Product Development
Benefits Management Retail Design
Process Understanding
Union Representation
Market Segmentation
Sales Analysis

Ch 7 in Cooper Schlinder 11th Edition
http://highered.mheducation.com/sites/0073373702/student_view0/chapter7/index.html
Download PPT Slides and read them


August 3, 2018

Business Research Methods - Introduction





Learning Objectives



To Understand . . .

What business research is and how it differs from  business decision support systems and business  intelligence systems.

Trends affecting business research and the  emerging hierarchy of business decision makers.

The distinction between good business research  and research that falls short of professional quality.

The nature of the research process.


Business research provides information to guide business decisions


Research Identifies changes in business environment and would help in responding  to change

Enterprises have long recognized the need
to better sense and respond to business change.


Definition


A process of determining, acquiring,analyzing, synthesizing, and disseminating relevant business data, information, and insights to decision makers in ways that mobilize the organization to take appropriate business actions that, in turn, maximize business performance


Research Reduces Risk

The primary purpose of research is to reduce the level of risk of a business decision.

Information Sources


Decision Support Systems
Numerous elements of data organized for retrieval and use in business decision making
Stored and retrieved via
Intranets
Extranets


Business Intelligence Systems
Ongoing information collection
Focused on events, trends in micro and macro-environments



Research done and information collected has to pass these tests?



Can information be applied to a critical decision?
Will the information improve managerial decision making?
Are sufficient resources available?


Key Terms


Applied research
Business intelligence system (BIS)
Business research
Control
Decision support system
Descriptive studies
Explanatory Studies

Management dilemma
Predictive studies
Pure research
Reporting studies
Return on Investment (ROI)
Scientific method
Strategy
Tactics

Technology Ecosystem for Industry 4.0 Production System






The Technology Ecosystem - Subsystems and Components




Digital Technologies


Artificial Intelligence
Augmented Reality
Automated Guides Vehicles
Blockchain
Driverless Trucks
Drones
IIoT
Mobile Devices
Robots
Sensors
Virtual Reality
3D Printing





Networks and Connectivity


Cloud Computing
Edge Computing

Integrated Platforms
Human Machine Interfaces
User Experience
Data Networks
Integration Layers

Production/Manufacturing/Supply Chain Applications


Core ERP
CRM
Integrated Business Planning Models
Manufacturing Execution Systems
Data Analytics
PLM and Digital Twins



Security and Risk Management


Digital Technologies


Artificial Intelligence
Augmented Reality
Automated Guides Vehicles
Blockchain

_________________

_________________


_________________


_________________

Is Blockchain a Viable Technology for Industry 4.0
6.4.2018
https://www.mbtmag.com/article/2018/06/blockchain-viable-technology-industry-40

BLOCKCHAIN DRIVES INDUSTRY 4.0: THE FUTURE BUSINESS MODEL
https://www.gmv.com/blog_gmv/language/en/blockchain-drives-industry-4-0-the-future-business-model/


Driverless Trucks
Drones


IIoT

SAP HANA (High-Performance Analytic Appliance) Platform : Enabler of Industry 4.0
https://www.huawei.com/en/about-huawei/publications/winwin-magazine/23/sap-enabler-of-industry

Mobile Devices
Robots
Sensors
Virtual Reality
3D Printing


Security and Risk Management

Industry 4.0 also creates new risks and requires companies to integrate security safeguards not only into their businesses but also throughout their ecosystem.
Dec 31 2017.
https://www.livemint.com/Technology/mVUQqjzhxgyXoVpkwVyVeN/New-challenges-for-a-connected-world.html


Updated on 4 August 2018,  15 July 2018





August - Management Knowledge Revision


August Revision Subjects

Product Design and Development

1 August to 5 August

1 August

1. Introduction - Product Design and Development
2. Product Development Process

2  August

3. Product Planning
4. Identifying Customer Needs for Product Development

Business Research Methods

3 August

Cooper and Schlindler - Chapter 1
http://highered.mheducation.com/sites/0073373702/student_view0/chapter1/index.html
Download PPT Slides and read them

http://highered.mheducation.com/sites/0073373702/student_view0/chapter3/index.html

4 August

Research Process Overview
http://highered.mheducation.com/sites/0073373702/student_view0/chapter4/index.html
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Clarifying the research question
http://highered.mheducation.com/sites/0073373702/student_view0/chapter5/index.html
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5 August

Research Design - Overview
http://highered.mheducation.com/sites/0073373702/student_view0/chapter6/index.html
Download PPT Slides and read them

Qualitative Research in Business Research
http://highered.mheducation.com/sites/0073373702/student_view0/chapter7/index.html
Download PPT Slides and read them

8 August

http://highered.mheducation.com/sites/0073373702/student_view0/chapter8/index.html
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http://highered.mheducation.com/sites/0073373702/student_view0/chapter10/index.html
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9 August

http://highered.mheducation.com/sites/0073373702/student_view0/chapter11/index.html
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http://highered.mheducation.com/sites/0073373702/student_view0/chapter12/index.html
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10 August

http://highered.mheducation.com/sites/0073373702/student_view0/chapter13/index.html
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http://highered.mheducation.com/sites/0073373702/student_view0/chapter14/index.html
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11 August

http://highered.mheducation.com/sites/0073373702/student_view0/chapter15/index.html
Download PPT Slides and read them

http://highered.mheducation.com/sites/0073373702/student_view0/chapter16/index.html
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12 August

http://highered.mheducation.com/sites/0073373702/student_view0/chapter17/index.html
Download PPT Slides and read them

http://highered.mheducation.com/sites/0073373702/student_view0/chapter18/index.html
Download PPT Slides and read them

http://highered.mheducation.com/sites/0073373702/student_view0/chapter19/index.html
Download PPT Slides and read them

http://highered.mheducation.com/sites/0073373702/student_view0/chapter20/index.html
Download PPT Slides and read them

http://highered.mheducation.com/sites/0073373702/student_view0/chapter21/index.html
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Statistics

15 August

15.  Basics of Statistics
http://bobhall.tamu.edu/FiniteMath/Module8/Introduction.html

Statistical Process Control
http://www.itl.nist.gov/div898/handbook/pmc/section1/pmc12.htm
http://www.itl.nist.gov/div898/handbook/pmc/section3/pmc3.htm


16. Statistical Quality Control
http://www.itl.nist.gov/div898/handbook/pmc/section2/pmc2.htm

Test of Hypothesis
http://www.math.uah.edu/stat/hypothesis/Introduction.html

HYPOTHESIS TESTING FOR THE PROCESS CAPABILITY RATIO - 2002 MS Thesis
https://etd.ohiolink.edu/!etd.send_file%3Faccession%3Dohiou1040054409%26disposition%3Dinline



17. Design of Experiments
http://asq.org/learn-about-quality/data-collection-analysis-tools/overview/design-of-experiments-tutorial.html

http://www.itl.nist.gov/div898/handbook/pmd/section3/pmd31.htm


18 August
http://www.intechopen.com/books/quality-management-and-six-sigma/six-sigma

http://nraomtr.blogspot.com/2014/05/six-sigma-introduction.html

Application of Six Sigma
http://www.intechopen.com/books/six-sigma-projects-and-personal-experiences/5-successful-projects-from-the-application-of-six-sigma-methodology

19.

Statistical Forecasting


Operations Research

22.  August

PRINCIPLES AND APPLICATIONS OF OPERATIONS RESEARCH
(from the perspective of an industrial engineer)
(From Maynard's Industrial Engineering Handbook, 5th Edition, pp. 11.27-11.44)
Jayant Rajgopal (From Rajgopal's website)
http://www.pitt.edu/~jrclass/or/or-intro.html

23. August

What is mathematical programming?
http://coral.ie.lehigh.edu/~ted/files/ie316/lectures/Lecture1.pdf
Examples of Mathematical Programming.
http://coral.ie.lehigh.edu/~ted/files/ie316/lectures/Lecture2.pdf

Video with 600,000+ views
_________________


_________________
NPTEL

24

Simplex Method
http://mat.gsia.cmu.edu/classes/QUANT/NOTES/chap7.pdf

Transportation Problem
http://orms.pef.czu.cz/text/transProblem.html

25.  Queing Models
http://orms.pef.czu.cz/text/QueTeory/QueuingModels.html

Simulation
http://orms.pef.czu.cz/text/NolinearProgramming/simulation.html

26. Dynamic Programming

Game Theory














To September - Management Knowledge Revision

Industrial Engineers support Engineers and Managers in Efficiency Improvement of Products, Processes and Systems


One Year MBA Knowledge Revision Plan

January  - February  - March  - April  - May   -   June

July  - August     - September  - October  - November  - December


Economics - Revision Articles - List


Updated  4 August 2018,  6 August 2017  13 September 2016, 31 July 2016, 31 Aug 2014