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MANAGEMENT 339: PRINCIPLES OF MANAGEMENT AND OPERATIONS

MANAGEMENT 339: PRINCIPLES OF MANAGEMENT AND OPERATIONS. What is Operations Management (OM) ? Activities that relate to creation of goods and services through transformation of inputs Relationship to other functional areas such as Marketing and Accounting Finance Key areas in OM

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MANAGEMENT 339: PRINCIPLES OF MANAGEMENT AND OPERATIONS

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  1. MANAGEMENT 339: PRINCIPLES OF MANAGEMENT AND OPERATIONS • What is Operations Management (OM) ? • Activities that relate to creation of goods and services through transformation of inputs • Relationship to other functional areas such as Marketing and Accounting Finance • Key areas in OM • Product/service design/Process design/Capacity planning/facilities location and design (Layout)/Quality management/HR and job design/Supplychain management/Inventory and materials management/Operations planning and scheduling/Maintenance • We will learn principles/methods to handle issues in these areas

  2. MANAGEMENT 339: PRINCIPLES OF MANAGEMENT AND OPERATIONS • What are Principles of Management ? • Principles applicable to all functions of the organization • Principles applicable at all levels of the organization • Principles useful to all levels of managers • What are the levels of the organization ? • Corporate; Business; Functional. Page 273. • What are levels of managers/management ? • Top management, middle management, entry-level/first-level/supervisory

  3. MANAGEMENTWhat all managers do • Achieving Objectives/Goals • Functions of Management • Efficient Use of Resources

  4. MANAGEMENT Definition: Pg 8 Goal/objective directed A process involving management functions Resources: assembling and using Setting: Organizational - functions, people, coordination External environment

  5. How good is our management ? • Effectiveness: Achieving objectives, goals • Efficiency: Managing resources OUTPUT INPUT

  6. Efficiency

  7. Process of Management Function of ManagementPg 25 Planning Organizing Directing/ Leading Control

  8. Planning at Different Levels of Management Planning Horizon Long Medium Short Planning Type Strategic Tactical Operational Skills (pg 32) Conceptional Human Technical TOP MIDDLE FIRST LEVEL

  9. Trends in Management and OM • Globalization • Growth of service sector • Emphasis on quality and productivity • TQM and JIT philosophies • Social responsibility and ethics • Diversity issues • Emphasis on Technology, IT, logistics, integration, coordination: SCM

  10. Social Responsibility and Ethics • Why relevant to business studies: Pg. 151 • SR: obligation of an organization’s management to make decisions and take actions that will enhance the welfare and interests of society as well as the organization • Economic, legal, ethical and discretionary responsibilities • What organizations can do: 164- • Leadership, code of ethics, compliance committees/officers, policies (e.g. whistle-blowing), training

  11. ETHICS IN MANAGEMENT • Ethics: The code of moral principles and values that govern the behavior of a person or group with respect to what is right or wrong. • Values Statements • Code of ethics • New employee orientation, employee training • Leadership, corporate culture

  12. An Overview of Planning. Pg 270- • Purpose • Direction, standards for measurement • Types of plans • Strategic, Tactical and Operational • See chart on page 270 • Planning process • Pg 275 • Setting Objectives/Goals. 279- • Principles: Page 288- • Specific, Measurable, Realistic but challenging, Participation • MBO. 291

  13. Strategic Management. Chapter 6 • Objective: Competitive advantage • Characteristics of competitive advantage. 194- • Superiority, inimitability, durability, non-substitutability, appropriate levels of profits/gains • Strategic Management process 197 • Strategic Intent/Vision/Mission • Environmental Analysis • Revised Vision/Mission and LT objectives 198- • Detailed situation analysis • Formulate strategies • Develop action for implementation: Programs, Policies, Budgets • Plan monitoring

  14. ENVIRONMENTAL SCANNING 204-: EXTERNAL ENVIRONMENT • ECONOMY • POLITICAL-LEGAL • SOCIO-CULTURAL • TECHNOLOGY • GLOBAL/INTERNATIONAL • COMPETITION • CUSTOMERS • SUPPLIERS

  15. INTERNAL ENVIRONMENT • FUNCTIONAL AREA RESOURCES • Finance, Marketing, Operations, HR, MIS, R&D • ORGANIZATION STRUCTURE • Dividing work, Authority & Responsibility, Information flow, decision making • CORPORATE CULTURE • Social responsibility and ethics, integration and intensity of competitive priorities

  16. STRATEGIC MANAGEMENTFORMULATING STRATEGY EXT. ENVT. MISSION OBJECTIVES SITUATION ANALYSIS INT. ENVT. STRATEGY

  17. SITUATION ANALYSIS • SWOT ANALYSIS. 214 • PORTFOLIO ANALYSIS. 211 • PRODUCT LIFE CYCLE ANALYSIS 209 • INDUSTRY/ COMPETITION ANALYSIS

  18. STRATEGY CORPORATE LEVEL(GRAND) GROWTH STABILITY RETIREMENT BUSINESS LEVEL: Pg 200 COST LEADERSHIP DIFFERENTIATION FOCUS “Competitive Priorities”: Cost/Price Quality Availability Dependability FUNCTIONAL LEVEL: OPERATIONAL STRATEGY

  19. GROWTH STRATEGY CONCENTRATION DIVERSIFICATION VERTICAL INTEGRATION ACQUISITIONS & MERGERS

  20. Functional level strategyE.g. Operations Strategy PRODUCTS/SERVICES PROCESS TECHNOLOGY QUALITY WORK FORCE FACILITIES SUPPLIERS/VERTICAL INTEGRATION

  21. STRATEGY IMPLEMENTATION • Organizing and Directing view • Policies/procedures, Programs and Budgets view • Seven S view . Pg 218 • What are policies? Why important here? • Programs are MT and ST plans • Elements

  22. MANAGEMENT CONTROLChapter 16 The systematic process through which managers regulate organizational activities to make them consistent with expectations established in plans, targets, and standards of performance.

  23. MANAGEMENT CONTROLSteps 570- SETTING STANDARDS MEASURING ACTUAL PERFORMANCE COMPARISON ANALYSIS CORRECTIVE ACTION/ NO ACTION

  24. Stages of Management Control589- • Preliminary control • Concurrent control • Post/Feedback control • Examples of control 577- : quality control, process control, employee evaluations, customer satisfaction surveys, supplier evaluations

  25. Principles of Effective Control591 – • Focus • Amount of • Quality of information • Flexibility

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