Management Theory Review

May 27, 2019

June - Management Knowledge Revision With Links

First Week 1 to 5 June 2015

June First Week - Management Knowledge Revision
http://nraomtr.blogspot.com/2016/05/june-first-week-management-knowledge.html

Industrial Engineering

Industrial Engineering Introduction
http://nraomtr.blogspot.com/2011/12/industrial-engineering-introduction.html

Industrial engineering Principles, Methods Tools and Techniques
https://nraoiekc.blogspot.com/2012/03/industrial-engineering-principles.html

Functions and Focus Areas of Industrial Engineering
https://nraoiekc.blogspot.com/2017/07/functions-of-industrial-engineering.html

Pioneering Efforts of Taylor, Gilbreth and Emerson
http://nraomtr.blogspot.in/2011/12/pioneering-efforts-of-taylor-gilbreth.html

Motion Study - Human Effort Engineering
http://nraomtr.blogspot.com/2011/12/motion-study-human-effort-engineering.html

Ergonomics - Introduction
http://nraomtr.blogspot.com/2011/12/ergonomics-introduction.html

Industrial Engineering Data and Measurements
https://nraoiekc.blogspot.com/2019/05/industrial-engineering-data-and.html
Work Measurement
http://nraomtr.blogspot.com/2011/12/work-measurement.html

4 Week - 22 to 26 June

Organizing for Innovation
Research and Development Management
http://www.wzl.rwth-aachen.de/en/080d8d8c949a1ac0c1256f190035d886/pm_i_eng_v2.pdf

Economics - Revision

Introduction to Economics - Basic Economic Concepts and Theories
http://nraomtr.blogspot.com/2011/12/introduction-to-economics-basic.html
Elements of Supply and Demand - Review Notes
http://nraomtr.blogspot.com/2011/12/elements-of-supply-and-demand-review.html

Theory of Aggregate Supply and Demand
http://nraomtr.blogspot.com/2011/12/theory-of.html
Business Cycles
http://nraomtr.blogspot.com/2011/12/business-cycles.html

Macroeconomic Objectives
Money and Monetary Policy

Fiscal and Debt Policies of the Government
Theory Demand, Supply and Equilibrium in Market

June Month Birthdays - Management Scholars and Professors

To July - Management Knowledge Revision

One Year MBA Knowledge Revision Plan

January - February - March - April - May - June

July - August - September - October - November - December

Updated on 28 May 2019, 31 May 2017

May 26, 2019

Downward Communication - Manager-Employee - Superior-Subordinate Communication

The 7 Deadly Sins of Manager-Employee Communication (and How to Avoid Them)
Which of these communication sins are you committing?
https://www.inc.com/sujan-patel/the-7-deadly-sins-of-manager/employee-communication-and-how-to-avoid-them.html

May 24, 2019

White Space Mapping

White Space Mapping – Seeing the Future Beyond the Core

Exploring white space in innovation, is exploring under-served markets or businesses that are outside the core product portfolio of an organization. White space is where unmet and unarticulated needs are uncovered to create innovation opportunities.

http://www.innovationmanagement.se/2013/06/13/white-space-mapping-seeing-the-future-beyond-the-core/

http://www.businesstoday.in/magazine/focus/meaning-of-the-word-whitespace/story/17200.html

White Space Mapping - Brief Explanation
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White Space Mapping is mentioned in the book 'Permanent Innovation." Principles of Innovation

Updated on 25 May 2019, 18 October 2016

Leadership - Management for Fourth Industrial Revolution Economy - Industry 4.0

Leadership - Management

The basics remain the same. Vision, Task, People

Improvement is required in multiple dimensions to develop new business models, new technology based processes and people relations and reward systems based on new technology.

The most substantial improvements start but do not finish with individual leaders: their beliefs, conduct, ways of handling people and understanding of strategy. The leaders have to perceive the organization as a dynamic entity, not an inert set of assets.

Leaders need good intelligence. You may say leadership IQ. Leaders need to understand their own weaknesses and strengths and be in possession of information on how all the business units are operating. Coaching could be a very effective way to increase self-awareness and reduce blind spots of managers in persons with adequate leadership IQ. The management shift needed to adapt to the Industry 4.0 would be individual and organizational spheres.

For the individual shift, senior leaders and management need to fully understand their teams and learn about how to impact them. Research supports the concept of levels of engagement and performance, from Level 1, which is apathetic, through to Level 5, passionate and unbounded. This emergent leadership model draws on empirical research on employee engagement and organisational behaviour.

Typical phases of leadership belief, thinking and behavior:

• Level 1 – Lifeless/Apathetic: “I am demoralized/There is nothing I can do to change this situation.”

• Level 2 – Reluctant/Stagnating: “I am frustrated/There is no point trying too hard.”

• Level 3 – Controlled/Orderly: “I need to be in control/I’m reluctant to share information.”

• Level 4 – Enthusiastic/Collaborative: “We can achieve great things as a team/I respect myself and others.”

• Level 5 – Unlimited/Unbounded: “I inspire others to achieve their unlimited potential/I am living a fulfilled life.”

How can leaders and organizations shift to a higher level of performance and success, while facing challenges of the Industry 4.0?

There is impact of technology on three areas of business importance. Business models, Processes and People Relations.

Adoption of innovations both technological and managerial will not take place in organizations unless top managers are aware of them, promote them and develop expertise to evaluate them. Hence the senior managers of companies have to make efforts and organize seminars and workshops to develop awareness, promotion and evaluation of Industry 4.0 business and industrial practices.

Source:

May 2019
https://www.weforum.org/agenda/2019/05/humane-leadership-is-the-4irs-big-management-innovation/

May 23, 2019

Behavior in Groups and Teams in Organizations - Research Perspectives and Gaps

The Chapters on Groups in Textbooks of Luthans and Robbins are used as the basis for developing the understanding of the research output on behavior of people in groups and teams in organizations.

Learning Objectives

Luthans

Describe the basic nature of groups; the dynamics of group formation and the various types of groups.

Discuss the implications that research on groups has for the practice of management.

Explain the important dynamics of informal groups and organizations.

Present the newly emerging team concept and practice.

Stephen Robbins

1. Define group and distinguish the different types of groups.
2. Identify the five stages of group development
3. Show how role requirements change in different situations.
4. Demonstrate how norms and status exert influence on an individual's behavior.
5. Show how group size affects group performance.
6. Contrast the benefits and disadvantages of cohesive groups.
7. Contrast the strengths and weaknesses of group decision making.
8. Compare the effectiveness of interacting, brainstorming, nominal, and electronic groups.
9. Evaluate evidence for cultural differences in group status and social loafing as well as the effects of diversity in group.

Define group and distinguish the different types of groups.

Robbins

We define a group as two or more individuals, interacting and interdependent, who have come together to achieve particular objectives.

Groups can be either formal or informal.

By a formal group, we mean one defined by the organization's structure, with designated work assignments establishing tasks. In formal groups, behavior of persons is stipulated in some respects by the formal group managers to achieve organization goals. Formal groups are categorized into command and task groups by Robbins.

People in organizations may come together and form groups to pursue activities they are interested in informally. Thus interest group may be formed informally among members of organizations. Groups also develop within organizations because individual members have one or more common characteristics. These groups can be called friendship groups.

Luthans

In OB, the concept is applied to the dynamics of members in both formal work groups, informal groups of the organization and teams.

A comprehensive definition of group would say that if a group exists in an organization, its members

1. Are motivated to join.
2. Perceive the group as a unified unit of interacting people.
3. Contribute in various amounts to the group processes (that is, some people contribute more time or energy to the group than do others.)
4. Reach agreements and have disagreements through various forms of interaction.

Team is concept that is being separated from Group.

Team has shared leadership roles.

Team has individual and mutual accountability.

Groups

The group is an important sociological unit of analysis in the subject of organizational behavior.

Types of Groups

Simplest group is a two person group (dyad).

Small groups and primary groups: Small group has the criterion of small size such that there is face-to-face interaction and communication among all members of the group. Primary group is a small group with the additional criteria that there is a comradeship, loyalty, and common sense of values among members. An example of primary group is family. The work group of a person is also a primary group.

All primary groups are small groups. But all small groups are not primary groups.

Coalition: Coalition is a group of interacting individuals and is formed by members for a specific purpose. But it does not have a formal internal structure. Still its members act as a group for the specific purpose for which it is formed.

Membership groups and Reference groups: A person is a member in the membership group. The group in which he wants to be a member is a reference group to him. Many times persons want to display the values of their reference groups.

There are many formally designated work groups, such as committees, in the modern organization. There are functional departmental committees and now cross functional committees. Team have emerged as the most important type of formal group in today's organization.

Research Issues to be Explored.

Is the definition of group adequate for formal and informal groups.

Are types of groups categorization or typology of groups cover all possible groups in organization adequately?

23rd May Management Knowledge Revision Plan
Groups and Teams
http://nraomtr.blogspot.com/2011/12/groups-and-teams-review-notes.html

May 22, 2019

Financial, Cost and Management Accounting - Review Notes List

Narayana Rao K.V.S.S. on Cover Page of Business Today

October 22 - November 6, 1997

Financial Accounting - Horngren - Review Notes List

Introduction to Financial Accounting - Google Books Link

Links to review notes and power point presentations accompanying the book are available as follows:

1. Accounting: The Language of Business

2. Measuring Income to Assess Performance

3. Recording Transactions

4. Accrual Accounting and Financial Statements

5. Statement of Cash Flows

6. Accounting for Sales

7. Inventories and Cost of Goods Sold

8. Long-Lived Assets and Depreciation

9. Liabilities and Interest

10. Stockholder's Equity

11. Intercorporate Investments and Consolidations

12. Financial Statement Analysis

Cost Accounting
1. Role of Costing and Cost Accounting in the Organization
2. Introduction to Cost Terms - Review Notes
3. Traditional Cost Objectives and Their Utility
4. Job Costing - Review Notes

Variance Analysis, Flexible Budget and Management Control

Management Accounting

1. Managerial Accounting or Management Accounting - Role in Business and Industrial Organizations

MBA Knowledge Revision Schedule

January - February - March - April - May - June

July - August - September - October - November - December

Updated 6 August 2017, 27 June 2014

Managing and Leading for High Performance - Job Design and Goal Setting - Revision Notes

Job Design

Job design may be defined as the methods that management uses to develop the content of a job, including all relevant tasks, as well as processes by which jobs are constructed and revised.

Ideas about job design appeared in business and economics literature as early as the 1700s. Adam Smith in The Wealth of Nations pointed out that production per man of straight pins could be dramatically increased if each worker was assigned a small routine, repeated task in the process of making of pins instead of being assigned the task of doing all elements and complete one pin all by himself. Pioneering scientific management proponents like F.W. Taylor and Frank Gilbreth advocated that management should analyze the method of doing each operation in a process and identify the most economical method of doing it and standardize it or specify it to be adopted by each and every worker or operator employed by it in the operation. Task design is the most prominent single element in scientific management. The scientific management approach evolved into a discipline called industrial engineering and it is concerned with product, process and tool design, plant layout, standard operating procedures, work measurement and standards, worker methods, and human-machine interaction. It has been the dominant form of job design analysis for over 100 years and it was adopted in various production technology improvements like automation, cybernation (use automatic feedback control systems) and use computers and sophisticated computer applications like artificial intelligence, expert systems and computer-assisted design. The job engineering produced cost savings. But there were negative effects on quality, absenteeism and turnover. So a deterioration in behavioral variables was observed. To take care of behavioral variable that were having an adverse impact on performance, certain measures were taken by managers. Job rotation and job enrichment were attempted by some companies.

Job enrichment is an exercise based on Herzberg theory on motivators related to job design. Between two jobs offering the same money income, the job that provides opportunities for achievement, recognition, responsibility, advancement, and growth provides more motivation.One can even see preference curves with these two as two variables - money income and job related motivators independent of money.

J. Ricahrd Hackman and Greg Oldham developed the most widely recognized model of job characteristics as a further extension of Herzberg model.

The core of the model identifies the follow characteristics

1. Skill variety involved in the job.
2. Task identity
3. Task significance
4. Autonomy
5. Feedback (Recognition Reward)

Quality of Work Life and Sociotechnical Design are also movements in the area of job design.

High Performance Work Practices approach narrows down for effective practice what began as a broad area in Quality of Work Life movement.

Goal Setting

A goal is a performance target that an individual or group seeks to accomplish at work. Goal setting is the process of motivating employees by establishing effective and meaningful performance targets.

Detailed note on Goal Setting and Performance
Goal Setting and Performance

For more details please revise the full chapter in Luthans.

Updated on 23 May 2019, 17 July 2014

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