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management

Emotion Management

Managing emotion is not easy for me. I find that all to often I allow my emotions to get the best of me and I definitely have a hard time focusing that emotion in a productive manner. I feel as though I do not understand well just exactly what my emotions are until it’s too late. I may have just been slightly frustrated over a small issue, but now I’m completely consumed with anger because I couldn’t resolve a small conflict.
Goleman (2001) states, “having Social Awareness or skill at managing relationship does not guarantee we have mastered the additional learning required to handle a customer adeptly or to resolve a conflict-just that we have the potential to become skilled at these competencies. ” This is where I find myself in life. I have the ability to become skilled at many emotional competencies, I just haven’t learned how to yet. Socially speaking I deal very with impulse control and am very effective at resolving conflict.
Personally speaking I am just the opposite. I would do very well to learn and practice, what Goleman calls, The Self-Management Cluster. The cluster involves focusing on and managing internal states, controlling impulses, and acknowledging resources. The pursuit of happiness is a driving force in a human’s daily decision making. We choose who, what, where, why and how based on our imagination of the future and how it will treat our future selves. In attempting to create this state happiness I often find myself just the opposite.

I like to think that I’m pretty good at shooting myself straight and not over or under predicting the outcomes of my future, however I must agree with Gilbert’s (2006) view that “Our imaginations aren’t particularly imaginative. Our imaginations are really bad at telling us how we will think when the future finally comes. ” If I could live in the ideal world that my simple brain can conjure up I would be wealthy, be situated in the exact job that I know was created just for me, and live with a wife who just adores me.
As it stands I only live with that that wife, my imagination thought up the other bits. Sitting here now reading the last line I think I just reinforced the idea that my imagination definitely lacks imagination, The idea of this paper is to consider prescribed readings from Goleman and Gilbert and write a health and wellness prescription for myself. There is one excerpt from Goleman’s book that speaks to me. There is growing evidence that fundamental ethical stances in life stem from underlying emotional capacities.
For one, impulse is the medium of emotion; the seed of all impulse is a feeling bursting to express itself in action. Those who are at the mercy of impulse—who lack self-control—suffer a moral deficiency: The ability to control impulse is the base of will and character. By the same token, the root of altruism lies in EMPATHY, the ability to read emotions in others; lacking a sense of another’s need or despair, there is no caring. And if there are any two moral stances that our times call for, they are precisely these, self-restraint and compassion” (Goleman, 1995).
I believe my prescription from this excerpt is to focus on practicing self-control. I am very good at loving my wife, but I am awful at being a partner. I choose to do what makes me happy in the moment, like exercising or reading a book, rather than spending quality time together. I’m very compulsive to my own wants. I need to look at what the needs of our relationship are and then weigh in how my needs may be affected and make decisions based on all the information gathered. Currently I am very compassionate, caring, giving person.
I believe that I am very healthy and have a fair amount of emotional intelligence (EI). I listen well and ask for clarification of what I’ve heard rather than assuming what I heard. I fight fair. I create boundaries and try my best to listen to what my body is tells me. I believe the authors would agree with these statements. I believe they would want me to focus more on self-control and developing more compassion for my personal relationships. I believe I do a good job at finding happy. I try to keep day-to-day life simple and do the little things with big rewards.
My prescription for myself is to seek out understanding for my lack of personal impulse control and focus on relationship building activities at home. Achieving a level of balance and control of daily challenges is essential to overall health and happiness. Barringer and Orbuch (2013) quote Marilu Henner explaining “Being in control of your life and having realistic expectations about your day-to-day challenges are the keys to stress management, which is perhaps the most important ingredient to living a happy, healthy and rewarding life. ”

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management

Management and welfare

INTRODUCTION
Statistics have shown that every year, domestic violence is responsible for an estimate 1200 deaths and 2 million injuries among women (National Center for Injury Prevention and Control, 2003). Last year, in England and Wales, there were over 1 million female victims of domestic abuse[1]. Domestic violence can be understood as any incident of threatening behaviour, or abuse which could be psychological, physical, sexual, financial or emotional between adults who are or have been intimate partners or family members regardless of gender or sexuality (Shipway, 2004).
The aim of this welfare project is to provide adequate levels of support to girls between the ages of 13 and 15 who have experienced incidents of domestic violence. Specifically, we propose a residential home that provides a support system, ongoing care and counselling for victims of domestic violence. The residential home will be named “Make a Difference” residential home and will be able to house twelve girls in four separate groups. Each group will then be allocated a qualified youth worker who will help them through their counselling, their group work and any problems and difficult circumstances they face. There will also be a daily schedule of activities that girls have the option to attend such as cooking, sport and film evenings that will take place every evening from 6.00-7.30 pm. These activities will provide a chance for the girls to socialise and also feel connected with the outside world.

There are going to be three co-ordinators responsible for the Make a Difference home. Tanya will hold the position of manager and treasurer, Angela will be the senior youth worker and training officer and I will act as co-ordinator and chief fundraising officer in order to raise funds and awareness for the residential home to remain a secure home for victims of domestic violence. Over six months, each of us will meet for three days in a week from 9 am to 5 pm to discuss our roles and give each other support and feedback.
MY ROLE
My role extends to a number of tasks that begins with the creation of an action plan and detailed proposal of the aims and objectives of Make a Difference home. This will be followed up by a discussion with Tanya on the budget to ensure that adequate funds are raised to support Make a Difference home. Finally my role will involve liaising and co-ordinating with external bodies such as the NHS and Community Safety Partnerships to raise awareness about domestic violence. The role will also involve carrying out administrative tasks such as registering Make a Difference home with the Care Quality Commission (CQC) that will be the first task to complete.
According to the Care Quality Commission (Registration) Regulations 2009 Act, all health and social service providers must be registered and placed into the CQC database. CQC is the chief regulator of quality in health and social care in the UK (RCN 2010) and carries out themed inspection programmes of home care services to ensure that all services meet certain standards and that service users are treated with dignity and respect. Registration involves applying for a CRB Check, obtaining and providing references, completing the application form and the statement of purpose. These tasks will fall under my responsibility in the first two weeks. The CQC also stipulates that a condition of registration is nomination of a manager. In this case, Tanya will be proposed as the manager of Make A Difference Home.
Following the submission of an application to CQC, I will be focused on writing a detailed action plan and proposal that will be distributed amongst local services, charities and external bodies. This action plan considers the main aims of this welfare project as:
To provide adequate levels of support where violence occurs
Work in collaboration to obtain the best outcome for victims and their relatives
Raise awareness and take action to reduce the risk to girls who are victims of domestic violence
This action plan will require input and editing by both Tanya and Angela as they will each need to bring their expertise and knowledge. This will be completed by the end of the first month.
With the action plan and proposal put together, my next task in the second month will be to draw up a fundraising plan for Make A Difference home. This is a task that will require input and considerable help from Tanya as treasurer, as well as consultations with other registered care homes across the country in order to acquire knowledge on how to conduct the most effective and efficient fundraising. It was decided that fundraising would take place in a number of locations and via a number of mediums such as the creation of a page on “Just Giving”, a Facebook page and a YouTube video on tackling domestic violence. These fundraising initiatives would take place in conjunction with street collections as well as a special fundraising initiative on the International Day for Elimination of Violence Against Women (November 25th).
After drawing up a list of fundraising initiatives, my role in the third month also involves requesting a meeting with the county council in order to pitch the idea of Make a Difference home and receive its approval and support. This meeting is particularly critical to the success of Make a Difference as the financial support of a council and a government is extremely valuable. I will therefore need considerable input from both Tanya and Angela in practising our pitch before the meeting. This meeting will be one of the greatest challenges of my role due to its strong leadership leadership element and the fact that all aims and expectations of our project must be effectively communicated the council board.
Assuming the meeting with the county council goes well, my next task by the end of the third month will be to approach the Home Office. In 2012, the Home Office revealed that it has committed to providing an additional 400,000 pounds a year for three years to improve the services to support young people under 18 suffering sexual violence and exploitation. As the funding is open to all, my task would be to send in the aforementioned action plan and proposal and request funding for Make a Difference Home (Home Office, 2012).
The next critical step will be approaching and aiming to work in partnership with local charities, voluntary and community organisations, the NHS, Community Safety Partnerships and families and communities. This will require two months of work. For example, Women’s Aid, a national charity which has a network of over 900 domestic and sexual violence services across the UK will be the first port of call. I will also set up a meeting with the managers behind the “White Ribbon Campaign” which is a global campaign that ensures that men take more responsibility for reducing the level of violence against women. A collaboration with these local services and charities would also represent an effective means of recruiting volunteers and health care workers to perform various roles in Make a Difference home.
There are a number of resources that will be needed to carry out each of these tasks. For example, I will need access to a database of charities and initiatives working towards alleviating the stresses caused by domestic violence. I hope to gain this access following registration with the CQC and permission by the Council. I will also need to print a detailed proposal and flyers that can be distributed across other charities. This will require a number of trips to a printing service.
Following the completion of these tasks over six-months, there will be a three month review period for Make a Difference home to monitor progress and ensure our aims are being met.
CONCLUSION
There is no doubt that there are a number of challenges associated with setting up a residential home for victims of domestic violence. Slow processing of applications, need for adequate funds, difficulties in setting up meetings and time constraints may all play a role at some point during our project. It is for this reason that a supportive and committed team is absolutely essential. It is important that in our team, our roles are not set, but can interchange so that we are constantly supporting each other.
In conclusion, I am confident that the Make a Difference home holds great potential in alleviating the pain that victims of domestic violence suffer and I have high hopes for its success in the future.
References
Home Office (2012) Crime: Young people’s advocate on sexual violence and exploitation. Working Paper.
National Center for Injury Prevention and control, 2003. Costs of intimate partner violence against women in the United States. Centers for Disease Control and Prevention, Atlanta, GA (2003).
Royal College of Nursing (RCN), 2010. Consultation on Care Quality Commission Reviews 2009/10. [Viewed on 24th April 2012]. Available from http://www.rcn.org.uk/__data/assets/pdf_file/0020/290216/CQC_Strategy_2010_2015.pdf
Shipway, L. 2004. Domestic Violence: A Handbook for Health Professionals,

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management

Oilwell: Team Management

Oilwell Cable Division Bill Russell was acting general manager of TRW and now he is being appointed as general manager with an assignment of lay off twenty people or achieves an equivalent reduction in labor cost. The Oilwell Cable Division is part of the Industrial and Energy Segment of  TRW that represent 24 percent of its sales and 23 percent of its operating profits. The Oilwell Division is a acquired business by TRW what was Crescent Wire and Cable Company of Trenton. The four reasons for moving the Oilwell cable (Crescent Wore and Cable Company) from Trenton to Lawarence are Lawerence is considerably closer to the customer • Lawerence has a more supportive labor environment. • The wage rate for the Lawerence area are very reasonable • There is an already existing building Gino stripoli, formal general manager, was gien the task to start operations in Lawrence and he established new management system. He established eleven team relating the activities and all teams were doing their jobs very well. There is also a co-ordination team. The team is successful. Though there were some problems initially.
There was a good deal of mistrust among employees regarding management’s  motives. There were also some technical problems. But after two years Gino solved the problems. Though TRW has ten competitors in the cable market, its market mainly depends on the demand of the submersible pumps. Because the basic product produced by the Oilwell Cable Division is wire that provides power  to submersible pumps used in oil drilling. Question: 1 Evaluate team management at TRW’s Lawrence plant. What organizational behavior system is it most similar to? Does it reflect theory X or theory Y assumptions? Answer: •
There were in total 11 teams where five production teams are formed around the production process. • Each team meets on a weekly basis or as needed and resource team meets every two weeks. That increases the coordination between the team and team members. • There was no formal agenda but the meeting on production process and labor scheduling which increases the production. • Team also build relationship between various level of the organizations Collegial organizational behavior system is most similar to. It reflects Theory Y assumption. Question: 2 Examine the results from team management at Lawrence.

Do they support a “satisfaction causes productivity” or a “productivity causes satisfaction” relationship? Explain. • There were some initial start-up problems, but late it seems to be a success. • In the beginning there was a good deal of mistrust among employees. But later it being solved. • First there was a lot of frustration with a high level of turnover. Because there was only one union employee brought from Trenton. To solve the problem a compensation scheme was developed that encouraged employees to master the various pieces of equipment in the plant. Turnover dropped from in excess of 12 percent to a range of 2 to 4 percent. Also employment had dropped from a high of 132 to what seemed to be a more optimal level of 125. They support “satisfaction causes productivity”. From the workers’ point of  view, the major benefit of team management is their ability to control their  jobs. This control has resulted in a high level of commitment by the employees, as evidenced by the numerous suggestions made by the teams that have resulted in significant improvements in quality and productivity. Question: 4
Can participative and team management approaches work equally well during times of organizational crisis and during normal times? Explain. NO, from my opinion, though during normal times participative and team management approaches work equally but during organizational crisis it can’t work equally. The responsibility of the team management is to solve any problem equally and help other team members to solve the problems. But in participative approach people can deny to help others. Beside this when contradiction between the people exist the situation also become more complicated in participative approach

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management

Proposal Management at Kudler Fine Foods

The objective of the auditing is to gain the understanding business functions and evaluation of Kudler Fine Foods’ business. Hence the auditing is linked with accounts, volume of transactions processed, systems and processes utilized in the operations etc. The audit may be internal or external. The internal audit is performed to regulate internal control and evaluation whereas the external audit is mandatory as per the statutory regulations.
As such the internal auditor access and review the correspondence files, budgetary information, organizational charts, job descriptions, evaluation of internal controls. In this regard, the auditor makes internal report along with deficiencies notices. The audit may be statutory or internal, yet several types of audits exist. As far as Kudler Fine Foods, the related audits are Financial Audits, operational Audits, Department Reviews, Information System Audit, Investigative Audits, Follow-up Audit etc.
The financial Audit is historically oriented and independent evaluation is performed so that fairness, accuracy, reliability of financial data is expressed. The gFinancial Audit is mandatory. With respect to the Operational Audit, it is future-oriented and evaluation of organizational activities. The primary source of the financial audit is operational policies and achievements that are related to the organizational objectives. However financial data may be utilized for the purpose and internal controls/efficiencies can be evaluated during operational audit.

The Department Review is linked with the current period analysis of administrative functions in order to evaluate adequacy of controls, safeguarding of assets, proper use of resources, statutory compliances etc. The Information System Audit allows to analysis of General Control Review, Application Controls Review and System Development Review. Follow-up Audit is not mandatory, yet such type of follow-up Audit is conducted after six months of internal/external audit report has been issued. The Follow-up audits are designed to evaluate corrective action that has been taken in connection with issues reported in the Audit Reports.

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management

Mb0041-Financial and Management Accounting-4 Credits

Accounting concepts: Accounting is the language of business.
Accounting information has to be suitably recorded classified, summarised and presented. Accountants adopt the following concepts in recording of accounts 1. Business Entity concept The business unit is treated as a separate and distinct from the persons who owe it.Hence business transactions must be kept completely separate from the private affairs of the owner this concept enables the owner top ascertain the picture of a business. 2. Going concern concept It is assumed that the business will exist for the future and transactions are recorded from this point of view. A firm is said to be a going concern when there is neither the intention nor the necessity to wind up its operation.
In other words, it continues to operation at its present scale in foreseeable future. 3. Money Measurement Concept All transactions are expressed and interpreted in terms of money.Accounting records only those transaction, which are being expressed in monetary terms through quantitative records are also kept. 4. Accounting period concept A business is assumed to continue indefinitely. In order to ascertain the state of affairs of the business at different intervals we have to choose the intervals for ascertaining the financial position and operational results at each such interval, which is known as accounting period.

5. Dual Aspect concept Each transaction has two aspects. 1) Debit aspect. 2) Credit aspect. If a business has acquired an asset it must have result,There has been a profit leading to an increase in the amount that the business owes to the proprietor Accounting Principles: The double entry system of accounting is based on a set of principle which is called generally accepted accounting principles. It incorporates the consensus at a particular time as to: •Which economic resources and obligations should be recorded as assets and liabilities by financial accounting, •Which changes in assets and liabilities should be recorded •When these changes are to be recorded, •How the assets and liabilities and changes in them should be measured, •What information should be disclosed and Which financial statement should be prepared. Q .
2 Pass Journal entries for the following transactions. Solution: Journal DateParticulars LfDebitCredit Cash A/C Dr To capital A/C (Being Madan invested in business) Purchase A/c Dr To cash A/C (Being credit purchases) Drawing A/C Dr To cash A/C (Being cash withdrawn for personal use) Purchase A/C Dr To cash A/C (Being cash purchase)Wages A/C Dr To cash A/C (Being wages paid)70000 14000 3000 12000 5000 70000 14000 3000 12000 5000 Q. 3Explain the various types of errors disclosed by trial balance Ans: Those errors that can be disclosed by trial balance can easily be located. As soon as the trial balance does not tally, the accountant can proceed to find out the spots where the errors might have been committed. The total amount of difference in the trial balance is temporarily transferred to a “Suspense Account “so that it can be mitigated as and when the error get rectified.Therefore the suspense account get debited or credited as the case may be on rectification of these types of error. The following are errors: a) Posting a wrong amount; This mistake may occur while posting an entry from subsidiary book to ledger.
b) Posting to the wrong side of an account: This error is committed while posting entries from subsidiary book to ledger. c) Wrong totalling: Both under casting and over casting are detected by trial balance. if any account is wrongly totalled, it gets reflected in the trial balance. ) Omitting to post an entry from subsidiary book to ledger: If an entry made in the subsidiary book does not get posted to ledger, the trial balance does not tally. e)Omission of an account altogether from being I shown in trial balance. f) Posting an amount to a correct account more than once; This result is imbalance in trial balance. g) Posting an item to the same side of two different ledger accounts: If two accounts are debited/credited for the same transaction, this type of error occurs.
Q. 4 From the following balances extracted from trail balance, prepare trading Account. Solution: The closing stock at the end of the period is Rs. 6000 TRADING ACCOUNT FOR THE YEAR ENDING—— Dr Particulars Rs Cr Particulars Rs To stock on 1-1-200470700 To purchase 102000 (-) Returns Outwards 3000 99000By sales 250000 (-)Returns Inwards 3000 247000 To carriage inwards5000By closing stock56000 To import duty6000 To clearing charges7000 To Royalty10000 To Fire Insurance2000 To Wages8000 To Gas,electricity,water4000 To GROSS PROFIT91300 TOTAL303000TOTAL303000 Q. 5Differentiate Financial Accounting and management accounting. Ans: S. NoBasis of differenceFinancial accountingManagement Accounting 1.
. 3. 4. 5. 6. Object Nature Subject matter Compulsion Precision ReportingTo record various transaction in order to know the financial position. It is helpful to share holders, creditors, bankers etc.
It is mainly concerned with the historical data. It is concerned with assessing the results of the whole business. It is compulsory in certain undertakings Actual figures are recorded and there is no room for using approximate figures It is prepared to find out profitability and financial position of the concern. It is useful for outsiders. To help the management in formulating policies and plans.It deals with the projection of data for the future. It deals separately with different units, Department and cost centres.
It is not compulsory No employee is given to actual figures. the approximate figures are more useful than the exact figures It is only for internal use. Q. 6 Following is the Balance sheet of M/s Srinivas Ltd. you are required to prepare a fund flow statement.

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management

Is it possible that management theory can ever be as precise as theories in the fields

In the world today theory has become a fundamental part of academics and is becoming increasingly apparent in studies of the formation of society. Theoretical approaches are widely accepted and in some cases depended upon by scholars in most major fields of study including, Law, Accounting, Mathematics, Management, Sociology and Experimental Psychology and more. This essay will analyse some popular management theories in order to identify the fact that management theories as a whole cannot be compared to those of another field of study due to their lack of precision and vagueness. It will provide an example of a precise theory, whilst discussing the importance of having management theory. ‘“Nothing is quite so practical as a good and original theory” in this way: good theory is practical precisely because it advances knowledge in a scientific discipline, guide research toward crucial questions, and enlightens the profession of management’ (Gioia & Corley 2011).
Prior to addressing Management theory it is perhaps helpful to explain briefly what is meant by theory. Theory is a statement of concepts and their relationships that shows how and/or why a phenomenon occurs (Gioia & Corley 2011). As a result there can be numerous theories, perspectives and concepts surrounding any one thing. It has been generally approved that management theory is a multidisciplinary area of study that expansively draws from other foundational disciplines such as Engineering, Sociology, Mathematics, Economics etc. (Oswick, Fleming & Hanlon 2011). It also borrows ideas and concepts from these other fields of study. Looking first of all at Scientific Management whose founding father (Frederick Taylor), became renowned for his strongest positive legacy. This legacy was the concept of breaking a complex task down into numbers of small subtasks and focusing on improving the performance of the subtasks. Tasks were homogenised as much as possible, workers were rewarded and punished. This approach has been recognised for its effectiveness in organisation of assembly lines and other mechanistic, routinized activities. Apart from the fact that he borrowed a large percentage of his work from the field of engineering the theory has been largely criticised, by both historical and contemporary critics, pointing out that Taylor’s theories tend to “dehumanize” the workers. Workers become bored easily when they are doing the same thing every day, in addition it leads to low employee creativity. (Mc Namara 2011).
This theory of scientific management can therefore be mentioned as one of the theories which is not precise because its original thought was taken from the school of engineering. Fred Fiedler is one of the leading specialists on the study of leadership and organizational performance consequently he had a profound impact on social organisation, and industrial psychology. In 1976 he introduced the famous contingency theory or contingency model of leadership, a concept he originally borrowed from the field of “industrial psychology and general management”, it was not his own. The Contingency Theory refers to the Manager’s response to the key identified variables in an organisation and it began with the theme of “it depends,” arguing that the solution to any one managerial problem is contingent on the factors that occur in the situation.

For example, a consultant should consider the factors before recommending the “management-by-objective” (MBO) system. This would prevent mistakes being made for example in the past the same MBO for a school system was recommended to a manufacturing firm because of its former success however what the contingency view tells us that what works in one setting might not work in another. Management’s role is therefore to search for the right contingencies that will fit or solve a particular challenge that the organisation is experiencing (Daft 2006). However due to the fact that the Contingency theory attempts to provide a perspective on organizations and management based on the integration of prior theories, it can not in its entirety be called a precise theory.

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management

Management Yesterday and Today

8th edition Steven P. harles Renard C Robbins Mary Coulter LEARNING OUTLINE Follow this Learning Outline as you read and study this chapter. o? Historical Background of Management •? Scientific Management o? General Administrative Theorists o? Quantitative Approach to Management •? Toward Understanding Organizational Behavior o? The Systems Approach o? The Contingency Approach 2–2 Historical Background of Management •? Ancient Management O?? Egypt (pyramids) and China (Great Wall) O?? Venetians (floating warship assembly lines) •? Adam Smith O?? Published “The Wealth of Nations” in 1776 v?? Advocated he division of labor (job specialization) to increase the productivity of workers •? Industrial Revolution O?? Substituted machine power for human labor O?? Created large organizations in need of management 2–3 Development of Major Management Theories Exhibit 2. 1 2–4 Major Approaches to Management •? Scientific Management •? General Administrative Theory •? Quantitative Management •? Organizational Behavior •? Systems Approach •? Contingency Approach •? 2–5 Scientific Management •? Fredrick Winslow Taylor O?? The “father” of scientific management O?? Published Principles of Scientific Management (1911) v??
Associated essay: Scientific Management Theory in Healthcare
The theory of scientific management –? Using scientific methods to define the “one best way” for a job to be done: •? Putting the right person on the job with the correct tools and equipment. •? Having a standardized method of doing the job. •? Providing an economic incentive to the worker. 2–6 Taylor’s Four Principles of Management 1.? Develop a science for each element of an individual’s work, which will replace the old rule-of-thumb method. 2.? Scientifically select and then train, teach, and develop the worker. 3.? Heartily cooperate with the workers so as to ensure that all work is done n accordance with the principles of the science that has been developed. 4.? Divide work and responsibility almost equally between management and workers. Exhibit 2. 2 2–7 Scientific Management (cont’d) •? Frank and Lillian Gilbreth O?? Focused on increasing worker productivity through the reduction of wasted motion O?? Developed the microchronometer to time worker motions and optimize performance •? How Do Today’s Managers Use Scientific Management? O?? Use time and motion studies to increase productivity O?? Hire the best qualified employees O?? Design incentive systems based on output 2–8

General Administrative Theorists •? Henri Fayol O?? Believed that the practice of management was distinct from other organizational functions O?? Developed fourteen principles of management that applied to all organizational situations •? Max Weber O?? Developed a theory of authority based on an ideal type of organization (bureaucracy) v?? Emphasized rationality, predictability, impersonality, technical competence, and authoritarianism 2–9 Fayol’s 14 Principles of Management 1.? Division of work. 7.? Remuneration. 2.? Authority. 8.? Centralization. 3.? Discipline. 9.? Scalar chain. 4.? Unity of command. 10.? Order. 5.?
Unity of direction. 11.? Equity. 6.? Subordination of individual interest to the interests of the organization. 12.? Stability of tenure of personnel. 13.? Initiative. 14.? Esprit de corps. Exhibit 2. 3 2–10 Weber’s Ideal Bureaucracy Exhibit 2. 4 2–11 Quantitative Approach to Management •? Quantitative Approach O?? Also called operations research or management science O?? Evolved from mathematical and statistical methods developed to solve WWII military logistics and quality control problems O?? Focuses on improving managerial decision making by applying: v?? Statistics, optimization models, information models, and omputer simulations 2–12 Understanding Organizational Behavior •? Organizational Behavior (OB) O?? The study of the actions of people at work; people are the most important asset of an organization •? Early OB Advocates O?? Robert Owen O?? Hugo Munsterberg O?? Mary Parker Follett O?? Chester Barnard 2–13 Early Advocates of OB Exhibit 2. 5 2–14 The Hawthorne Studies •? A series of productivity experiments conducted at Western Electric from 1927 to 1932. •? Experimental findings O?? Productivity unexpectedly increased under imposed adverse working conditions. O?? The effect of incentive plans was less than expected. ? Research conclusion O?? Social norms, group standards and attitudes more strongly influence individual output and work behavior than do monetary incentives. 2–15 The Systems Approach •? System Defined O?? A set of interrelated and interdependent parts arranged in a manner that produces a unified whole. •? Basic Types of Systems O?? Closed systems v?? Are not influenced by and do not interact with their environment (all system input and output is internal). O?? Open systems v?? Dynamically interact to their environments by taking in inputs and transforming them into outputs that are istributed into their environments. 2–16 The Organization as an Open System Exhibit 2. 6 2–17 The Contingency Approach •? Contingency Approach Defined O?? Also sometimes called the situational approach. O?? There is no one universally applicable set of management principles (rules) by which to manage organizations. O?? Organizations are individually different, face different situations (contingency variables), and require different ways of managing. 2–18 Popular Contingency Variables •? Organization size •? Routineness of task technology •? Environmental uncertainty •? Individual differences Exhibit 2. 7 2–19

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management

BMW Management of Global Financial Risk

Management of Global Financial Risk
            In any business, large or small, the bottom line is finance. Poor decisions concerning the life blood of a company or corporation will quickly lead to the withered road of the destitute.  Obviously, increased corporate wealth is a direct catalyst for increased concern towards solid decision making principals. Today, multinational companies are in the process of globalization. Globalization is, according to Dr. Ismail Shariff (Wikipedia, 2007), “the worldwide process of homogenizing prices, products, wages, rates of interest, and profits.” Further, the forces necessary for globalization to occur are human migration, international trade, rapid capital movement, and the integration of financial markets.
In the early 1990s, most European automakers produced their output of autos in their own countries (Yong-Cheol & McElreath, 2001). Because of the rising value of the German deutschmark, in 1992 BMW solidified plans to begin oversea operations in the United States, specifically in South Carolina. By 1991, sales of BMWs in the US were roughly sixty percent of what they were five years previously. Production costs were up and rising more in Germany. These rising production costs coupled with the low exchange rate of the dollar were the determining factors for BMW’s decision. Corporate management at BMW “was convinced the United States would retain its cost advantage over Germany for a long enough time that the company could recoup its $400 million investment” (Yong-Cheol & McElreath, 2001).

This decision has now been statistically proven to have been of the utmost feasibility. Current data regarding BMW shows significant profit margins in every area. The corporation has also expanded operational bases to Mexico.  The costs of operations are low and the quality produced is high.  Mexico serves as a hub of feasible exportation to many Central and South American countries (Wikipedia, 2007). BMW has also annexed its operational boundaries by launching production in Beijing, China. Economic exposure for automobile manufacturers is limited by diversification into various foreign markets (Yong-Cheol & McElreath, 2001). Declining real exchange rates can be absorbed by a corporation through shifting production from one country to the next depending on pertinent economic factors.
Most other European automakers followed the lead presented by BMW in diversifying into foreign markets to alleviate the cost burdens in their home countries. In today’s international markets, decision makers have numerous new and old challenges to meet in order to ensure prosperity for their corporations. To not be in the know concerning the unlimited potential markets for the incorporation of corporate diversification is simply to commit corporate suicide.

Bibliography/References
“Managing  operating exposure: A case study of the automobile industry”, by Yong-Cheol Kim, Robert McElreath. Multinational Business Review. Detroit: Spring 2001. v 9, Iss. 1; pg. 21-27

“Transfer Pricing is Getting More Scrutiny”, by Bob Turner, Bob Ackerman, and Karen Kirwan. Financial Executive. May 2004, Volume 20, pages 28-31.

“Pricing in foreign currency vs. U.S. Dollars – how is your company managing currency risk?”, by Marie N. Hollein AFP Exchange. Bethesda: Nov/Dec 2002. v 22, Iss. 6; pg. 112-115.

What’s the Function?, by Peter J. Kaye, Jeffrey Mensch, Dmitri D. Shiry. Pennsylvania CPA Journal. Philadelphia: Spring 2003. Vol. 74, Iss. 1: pg. 28-32.

“BMW.” Wikipedia, The Free Encyclopedia. 24 Jan 2007, 14:10 UTC. Wikimedia Foundation, Inc. 25 Jan 2007 ;http://en.wikipedia.org/w/index.php?title=BMW;oldid=102901927;.

“Globalization.” Wikipedia, The Free Encyclopedia. 25 Jan 2007, 21:19 UTC. Wikimedia Foundation, Inc. 25 Jan 2007 ;http://en.wikipedia.org/w/index.php?title=Globalization;oldid=103228518;.
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Categories
management

Management Dissertation Proposal Proforma

1. Aims of the Dissertation:
The aim of this research is to investigate how postponement as a manufacturing and procurement strategy in supply chain management can add strategic value to a firm’s operations
This will be investigated through the following research questions

How can a postponement strategy provide practical strategic value to companies
How can the relationships in the supply chain be managed to best support a postponement strategy
How can the low rate of postponement adoption amongst companies be addressed in the future
What theoretical and empirical developments are needed to boost the value of postponement
2. Methodology:
Proposed Methodology
A research can achieve its objectives by gathering and analysing qualitative and/or quantitative data. Qualitative data adheres to an interpretivist research philosophy wherein reality can be understood through subjective interpretation of its context (Hussey and Hussey, 1997). On the other hand, quantitative data is in line with the positivist research philosophy which views reality from a strictly objective perspective (Levin, 1988).
Some of the most popular approaches which can be used to gather either qualitative or quantitative data are: surveys, action research, case studies and experimentation (Saunders et al, 2007, p. 126). Of these, surveys tend to be used mostly for descriptive and exploratory research that covers a broad and relatively undefined topic. In contrast, action research is based on researchers actively collaborating and working with practitioners in a highly specific field in order to investigate a narrow and well defined issue or problem. This tends to be for the purpose of finding practical solutions to a specific issue and thus is a highly involved research methodology. Case studies are a middle ground between action research and surveys, aimed at carrying out in depth research but without the direct involvement of practitioners, helping the researcher to avoid becoming too involved with the organisation, and developing a narrow view. Finally, experimentation focuses on the creation and investigation of specific scenarios, with the aim being to determine how these scenarios unfold, with certain external factors controlled to allow other factors to be investigated in significant detail (Saunders et al, 2007, p. 128).
In the case of this research, postponement is a relatively well defined area, but one that has still not been fully investigated and formulated in the literature as discussed above. As such, when investigating postponement it is important to use a methodology that is focused enough to be strongly rooted in the existing research, whilst not being so narrow that it fails to consider the potential for gaps in the theory. This implies that the best methodology to use is a case study of organisations that have implemented postponement strategies. This methodology will help understand how these postponement strategies have provided practical strategic value to the companies that have implemented them. It will also provide insight into the impact on postponement on the supply chain and the relationships in the supply chain, as well as the steps that could be used to address the low rate of postponement adoption amongst companies in general.
In case studies, both quantitative and qualitative method can be used to gather data. This study will mainly use a qualitative method. The qualitative approach is considered most suitable when a researcher wants to explore a problem through different variables which are not possible to be measured statistically (Ghauri and Grohaug, 2002). The case studies should also look to obtain significant amounts of qualitative data and feedback from managers in the companies to determine what they think the main issues with postponement are at the present time, and thus how these issues could be resolved by future theoretical and empirical developments in this area.
3. Feasibility:
The researcher has access to all the secondary data required for the literature review of this study which is necessary for its theoretical underpinnings. The sources of secondary data include books, journals and academic papers available in libraries or in digital formats as e-books or over the internet. Moreover, significant information for this research will be acquired through the authentic internet sources including websites of various consultancy firms and institutions. As for the primary research pertaining to the case study, the researcher has sought to acquire access to the managers of several companies which apparently practice postponement strategy to some extent.
4. How Your Work Fits Existing Published Work:
Literature Review and Initial Research
According to Wan (2006, p. 8) “a postponement strategy aims at delaying some supply chain activities until customer demand is revealed in order to maintain both low system wide cost and fast response”. This implies that a postponement strategy is a process by which the supply chain can be better brought into line with customer demand levels, thus enforcing some form of consumer pull on the chain. There are various types of postponement strategies, which include postponing the purchasing of certain perishable materials; postponing the completion of products to allow customers to customise them; postponing the completion of products until they are closer to customers to reduce lead times; and postponing the distribution of products to ensure distribution strategies can be coordinated central (Wan, 2006, p. 12). However, the emergence of e-commerce has led to a revolution in the range of postponement strategies which can be used, with virtual inventories effectively being independent of the physical location of stock and components. This allows retailers to fulfil customer orders by postponing their inventory at the factory level until a customer order is placed, at which point a range of modular components can be assembled in a variety of locations allowing for a more advanced approach to postponement (Bailey and Rabinovich 2005).
This high level of flexibility and responsiveness can provide a wide range of benefits to the companies. Some of the most obvious benefits or advantages are a reduction in inventory costs; a reduction in transportation costs due to direct distribution; a reduction in obsolescence levels and an increase in customer responsiveness (Wan, 2006, p. 22). However, perhaps an even more important potential benefit is the fact that postponement can be carried out at the point of product differentiation, thus creating a powerful strategy to improve supply chain management (Davilia and Wouters, 2007, p. 2245). Specifically, by implementing such a strategy, a company can manage to create a generic product range that is low cost and needs relatively minimal levels of customisation; whilst also offering highly customisable premium products which can be customised to specifications and offered at a higher rate. This ability to pursue two strategies at once allows companies to target multiple market segments, thus potentially achieving higher levels of customer responsiveness and better customer targeting (Davilia and Wouters, 2007, p. 2245).
The use of a postponement strategy can enhance these benefits, as well as facilitating and supporting the development of other strategies such as mass customisation and modularisation. This is because all of these strategies and fundamentally linked to the product architecture. A postponement strategy necessitates the creation of modular designs, thus making it easier for companies to produce a wide range of products whilst still using mass production techniques. As such, when these three are combined into a single supply chain strategy, they offer companies an unparalleled level of flexibility and responsiveness, with the cost benefits of postponement helping to counter the additional cost of using modularisation and mass customisation (Mikkola and Skjott-Larsen, 2004, p. 352). However, in order to successfully apply these strategies, a high level of supply chain coordination is needed. This implies that high levels of buyer supplier cooperation are also required if a company is to use postponement to meet the challenges of a demanding marketplace (Yang et al, 2007, p. 984). This can place strain on the relationships in the supply chain, as buyers and suppliers may be unable to agree on the best way to achieve postponement and customisation, and on how to share the costs and benefits.
However, once the conditions for a postponement strategy have been created, the strategy itself fundamentally revolutionises a company’s supply chain. It allows for numerous customisation strategies to be pursued in parallel and turned delivery and production lead times into a variable which can actively be managed as part of the supply chain efficiency maximisation (Brun and Zorzini, 2009, p. 205). This is because the postponement strategy works by striking a balance between the degrees of customisation achieved, the price of the product, and the delivery time to customers. Standard customisation strategies tend to create too high a level of customisation, thus increasing costs and lead times. In contrast, mass production strategies do not allow for customisation, thus reducing the level of differentiation. By using a postponement strategy, companies can strike a balance and provide their customers with their own specific balance of customisation, cost and lead time, thus boosting overall supply chain effectiveness and customer satisfaction levels (Su and Chuang, 2011, p. 24).
However, recent surveys of supply chain professionals and businesses have clearly indicated that, in spite of the potential benefits of postponement, it is still an underutilised concept amongst major businesses. Specifically, a survey by Yang et al. (2005, p. 991) of businesses in the food, clothing, automotive and electronics industries showed that most companies expected postponement to be less used as a strategy in the future. According to Boone et al (2007, p. 594) this slow rate of adoption is due to an inability to extend postponement research beyond its manufacturing context, or to provide empirical proof of the strategic benefits. As such, this is a key issue that this work will aim to address.
5. Why You Are Doing This Topic:
Postponement is a relatively common concept in logistics, marketing, and manufacturing concept, with forms of informal postponement being used by companies since the 1920s (Yang and Burns, 2003, p. 2075). The application of postponement as an operations and supply chain strategy is however in its formative stage as many companies are only starting to witness the full prospects of adopting this practice. The Council of Logistics Management defines postponement as “the delay of final activities (i.e. assembly, production, packaging, tagging, etc.) until the latest possible time. A strategy used to eliminate excess inventory in the form of finished goods, which may be packaged in a variety of configurations.” (Kong and Allan, 2007) This definition implies that postponement delays one specific step that occurs early in the production or procurement process of a product till the end. As evident from its definition, the aim of adopting this practice is to minimize or eradicate inventory by finalizing a product right before it is set off for delivery.
Many management practitioners and business executives who are closely familiar with postponement phenomenon view this concept only as an operational strategy. They regard postponement as a process of improving the production and assembly of a product. Although the practice of postponement may be certainly effective in improving production operations, postponement should be expanded and explored as a supply chain strategy. However, in modern times a more strategic approach to business and operations management has seen postponement used as a strategy for managing supply chains and maximising their efficiency. In this context, postponement can offer to companies a new way to conceptualise their product design, process design and supply chain management in order to obtain new forms of competitive advantage. However, the relatively limited use of postponement in this area indicates that more research needs to be undertaken into the factors that will drive the use of postponement as a manufacturing strategy in supply chain management. This proposal will examine the literature in the area and propose a methodology to obtain a better understanding of the use of postponement strategy, and the contributions it can make to modern supply chain management in the competitive markets.
6. Timing Mileposts
MilestoneDescriptionDue dateRemarks
1Stage 1: Area of interest identified
2Stage 2: Specific topic selected
3Stage 3: Topic refined to develop dissertation proposal
4Stage 4: Proposal written and submitted
5Stage 5: Collection of data and information
6Stage 6: Analysis and interpretation of collected data/information
7Stage 7: Writing up
8Stage 8: Final draft prepared – submission of dissertation
9Final Deadline – nine months from classroom date.
References:
Bailey, J.P. and Rabinovich, E., Internet book retailing and supply chain management: an analytical study of inventory location speculation and postponement. Transportation Research Part E: Logistics and Transportation Review; 2005, Vol. 41, p159-177.
Boone, C. A. Craighead, C. W. and Hanna, J. B. 2007. Postponement: an evolving supply chain concept. International Journal of Physical Distribution & Logistics Management; 2007, Vol. 37 Issue 8, p594-611
Brun, A. and Zorzini, M. 2009. Evaluation of product customization strategies through modularization and postponement. International Journal of Production Economics; Jul2009, Vol. 120 Issue 1, p205-220
Davila, T. and Wouters, M. 2007. An empirical test of inventory, service and cost benefits from a postponement strategy. International Journal of Production Research; 5/15/2007, Vol. 45 Issue 10, p2245-2267
Fisher, C. (2004), Researching and Writing a Dissertation – For Business Students, Prentice-Hall, Englewood Cliffs, NJ.
Hussey, J. and R. Hussey (1997) Business Research: A Practical Guide for Undergraduate and Postgraduate Students. London, Macmillan.
Kong and Allan (2007) More on Postponement Adapting Postponement to the Supply Chain. Available from http://kongandallan.com/en/us_pdf/MOP0707U.pdf (cited on 15th April, 2013)
Levin, D. M. (1988). The opening of vision: Nihilism and the postmodern situation. London: Routledge.
Mikkola, J. H. and Skjott-Larsen, T. 2004. Supply-chain integration: implications for mass customization, modularization and postponement strategies. Production Planning & Control; Jun2004, Vol. 15 Issue 4, p352-361
Saunders, M. Thornhill, A. and Lewis, P. 2007. Research Methods for Business Students. Harlow: Financial Times / Prentice Hall.
Su, C. J. and Chuang, H. C. 2011. Toward Mass Customized Product Deployment in E-Commerce: The Modularization Function and Postponement Strategy. Journal of Organizational Computing & Electronic Commerce; Jan-Mar2011, Vol. 21 Issue 1, p24-49
Wan, J. 2006. Postponement Strategy in Supply Chain Management. University of Cambridge. http://www.ifm.eng.cam.ac.uk/mtms/events/documents/Johnny_Wan.pdf Accessed 15th April 2011.
Yang, B. and Burns, N. 2003. Implications of postponement for the supply chain. International Journal of Production Research; 6/15/2003, Vol. 41 Issue 9, p2075-2090
Yang, B. Burns, N. D. and Backhouse, C. J. 2005. An empirical investigation into the barriers to postponement. International Journal of Production Research; 2005, Vol. 43, p991–1005.
Yang, B. Yang, Y. and Wijngaard, J. 2007. Postponement: an inter-organizational perspective. International Journal of Production Research; 2/15/2007, Vol. 45 Issue 4, p971-988
Yin, R.K. (1994), Case Study Research – Design and Method, 2nd ed., Sage, Newbury Park, CA.

Categories
management

Project Manager

A project manager is responsible for all of the aspects of the implementation process. This is includes but not limited to the responsibilities of task assignments, resource availability, maintenance, project documentation, budget and timeline oversight, and communication among all of the project team members. A company may run into several errors before, during, and after a system is implemented it is critical for a plan to be formed and followed to try to reduce the amount of errors. To begin the process of implementing a system the project needs three major components completed in the establishing plans and controls phase.
These three components are the breakdown of the project into various phases, specific budgets applicable to each phase, and specific timetables applicable to each project phase. For a project to be managed effectively the project needs to be broken up into multiple phases to try to prevent as many bugs as possible. If a project is broken up it becomes easier to manage and precede smoother. Because a project of implementing a new system has multiple people involved it becomes unrealistic for there to be a standard method for breaking down the task.
This is because there are several different opinions and requirements for each phase. To the extent possible, tasks should be broken down to a level where task definition is sufficiently clear to enable individual personnel to be assigned to specific tasks. Making an accurate timeline is difficult to do since there are regular setbacks when implementing a system. The timeliness will depend on the project manager and whether or not the manager has had previous experience with the company. The previous experience will help with estimating the amount of time given to each task based on the previous project.

The time estimate will involve the four basic steps of work measurement: identify the task to be estimated, for each task estimate the total size or volume of the task, convert the size or volume estimate into a time estimate by multiplying the estimated processing rate, and adjust the estimated processing rate to include circumstantial considerations such as idleness or complexity. Executing Implementation activities is the next critical phase when implementing an accounting system. This involves the actual finishing the design plan.
This includes activities such as employee training, acquiring and installing new computer equipment, detailed systems designs, documenting the new system, file conversion, and test operations. Not all of these activities may be applicable depending on the software being implemented. Employee training is critical because the employees are who is going to be using the system. This will help with making the transition into the new software smoother. Some additional design work will be completed during the detailed systems design activity.
This is the activity that might reveal that some of the design plan will be unworkable, and plans may need to be changed at this point. Documentation is one of the most important activities when implementing a new system. The documenting can be used to help with training employees, provide programmers with useful information for the future, information for auditors, and assist with design expectations. The implementation plan will allow adequate time for data screening since errors occur during the file conversion.
File conversion can be one of the most time consuming activities, and will be provided a lengthy timeline. For testing operations the parallel approach will be used despite the expenses. If the direct approach was used the errors from the system failing could equal the expenses that could be spent in the parallels approach to ensure system effectiveness. The final step in the planning process is the evaluation of the new system after it has been implemented. The new system will still need to be monitored and changes may be needed to the system afterwards.
This will help ensure that the system is running appropriately according the original plan that the company decided on. Feedback will be imperative from the employees who are actually using the new system daily. The monitoring will be done through observations and questionnaires. References Bodnar, G. , & Hopwood, W. Accounting information systems . (Eleventh ed. ). Upper Saddle River: Pearson. Hoyt, J. (2009). 5 steps to a successful implementation of your new accounting system. ERP Software, Retrieved from http://www. erpsoftwareblog. com/2009/11/5-steps-to-a-successful-implemention-of-your-new-accounting-system/