Showing posts with label Managerial Function. Show all posts
Showing posts with label Managerial Function. Show all posts

Sep 15, 2019

Managerial Processes Direct Indirect Value Chain Study Notes

Managerial Processes Direct Indirect Value Chain Meaning

Managerial Processes Meaning Definition

To create a value organization is very important in this era, for better performance and prestige of the organization. How you can convert your business with more value in less cost. What is the fundamentals for organization to stand in the first place. the main important rule is that, Manufacturing companies create value by acquiring raw materials and produce value added something useful. For example Retailers bring multiple products together and offer them in a convenient way to customers. Online services such as shopping, home services, fitting rooms, or other services, provide to customers in a customer-friendly manner, and distributing them to the mass audience. The profit margin created and captured by a company is depend on value created for the customer. The more value an organization creates, the more profit gets. when you provide more value to your customers, you build a competitive advantage and more profit. how your company creates more ways to add more value, is the key element in developing a competitive strategy. Huh. Michael Porter in 1985 wrote in his influential book "Competitive Advantage", that the concept of value chains for the first time. A value chain is a set of activities that an organization undertakes, to create value for its customers. Porter proposed a general-purpose value chain  activities, which increase performance determines costs and affects profits, so this tool can help you for your organization performance and value.
Porter's Value Chain Strategy Skills Training is the process, how human resource management adds value to inbound logistics, operations, outbound logistics, and so on. look for direct, indirect, and quality assurance subactivities Again, look for direct, indirect, and quality assurance activities. How do you use Porter's value chain? What is operations in value chain?
What is value chain in strategic management? What are support activities in Concept of Value Chain, Value Chain Analysis, Value Chain Management. you will learn more about Porter's Value Chain Strategy and Implementation of Value Chain Analysis in this article. Primary activities are the processes directly involved in transforming materials into finished goods, Porter's Value Chain Analysis by Michael Porter also known as Porter's Value Chain Analysis. Which is a great business management concept that was developed by Michael Porter.

Elements In Value Chain

Value Chain does not depends on departments or types of accounting costs, but Porter's value chain focuses on the system, and also focuses to convert inputs into outputs purchased by consumers. Using this approach, Porter described a series of activities for all businesses, and he divided them into primary and supportive activities, which is given below.

Primary Activities

Primary activities are directly related to the physical manufacture, sales, maintenance, and support of a product or service. They include the following activities.

Inbound Logistics Activities

Inbound logistics are all processes related to receiving, storing and distributing inputs internally. Your supplier relationships are an important factor in creating value here.

Operations Activities

Operations are the change activities, which convert inputs into outputs that are sold to customers. Raw input material is given to operation system that converts it into value output product, so operational systems create value.

Outbound Logistics Activities

Outbound logistics activities take your product or service to your customer. These are the things like collection, storage and distribution systems, and they can be internal or external for your organization.

Marketing and Sales Activities

Marketing and sales are the processes you use to convince customers to buy from you rather than from your competitors. This will depend on you, how much benefits you provide, and how well you communicate them, Marketing and Sales Activities are sources of value here.

Service Activities

Service are the activities related to maintaining the value of your product or service to your customers, once they are purchased your products or. Services.

Support Activities

Supporting activities are those activities, which support the primary functions. each support, or secondary, activity play a important role in each primary activity. For example, procurement supports operations, but it also supports marketing and sales with other activities. below are giving Support Activities.

Procurement or Purchasing

Procurement or purchase is the support activities for the organization, that makes the resources necessary to operate. This includes finding vendors and negotiating the best prices.

Human esource management

Human Resource Management main task in a company, to recruits, hires, trains, motivates, rewards, and retains its employees. People are an important source of value for a company, so businesses can make a clear profit with good HR practices.

Technological Development

Technological development activities are related to the management and processing of information, as well as protecting the company's knowledge base. We should focus on cost effective information technology, staying updated with current technological progress and maintaining technological excellence are sources of value creation.


Infrastructure are a company's support systems tasks that allow it to maintain daily operations, such as Accounting, legal, administrative, and general management are examples of essential infrastructure tasks, that businesses can use for their advantage. Now Companies adopt these  primary and support activities as "building blocks" to create valuable products or services.

Sep 10, 2019

100th Best Business Schools US Top MBA Colleges in USA

100th USA Top MBA Colleges Business Schools United States
100th USA Top MBA Business Schools 

100th Best Business Schools MBA Colleges In USA

As of my knowledge cutoff in September 2023 - 24, the United States has several top-ranking MBA (Master of Business Administration) colleges. Please note that rankings can change over time, so it's always a good idea to refer to the latest rankings for the most up-to-date information. Here are some of the renowned MBA colleges in the USA:

1. Harvard Business School (HBS) - Harvard University
2. Stanford Graduate School of Business - Stanford University
3. The Wharton School - University of Pennsylvania
4. MIT Sloan School of Management - Massachusetts Institute of Technology
5. Chicago Booth School of Business - University of Chicago
6. Columbia Business School - Columbia University
7. Kellogg School of Management - Northwestern University
8. Tuck School of Business - Dartmouth College
9. Haas School of Business - University of California, Berkeley
10. Stern School of Business - New York University

These are just a few examples, and there are many other reputable MBA programs across the United States. It's important to research and consider various factors such as program curriculum, faculty, specialization options, networking opportunities, and post-graduation career outcomes when selecting an MBA college.

Here are the  2023 Best Business Schools (MBA) Best Programs Rankings in USA, An overview fees of Top MBA programs in USA.

Stanford University
Stanford, CA
Best Business Schools
$74,706 per year (full-time) TUITION FEE
University of Pennsylvania (Wharton) 1
Philadelphia, PA
Best Business Schools
$80,432 per year (full-time) TUITION FEE
University of Chicago (Booth)
Chicago, IL
Best Business Schools
$73,440 per year (full-time) TUITION FEE
Northwestern University (Kellogg)
Evanston, IL
Best Business Schools
$74,871 per year (full-time) TUITION FEE
Harvard University
Boston, MA
Best Business Schools (tie)
$73,440 per year (full-time) TUITION FEE
Massachusetts Institute of Technology (Sloan) 1
Cambridge, MA
Best Business Schools
$77,168 per year (full-time) TUITION FEE
Columbia University
New York, NY
Best Business Schools (tie)
$77,376 per year (full-time) TUITION FEE
University of California--Berkeley (Haas)
Berkeley, CA
Best Business Schools (tie)
$68,444 per year (full-time) TUITION FEE
Yale University
New Haven, CT
Best Business Schools
$72,350 per year (full-time) TUITION FEE
Dartmouth College (Tuck)
Hanover, NH
Best Business Schools (tie)
$77,520 per year (full-time) TUITION FEE
Find the best Business School MBA program to fit your goals. Which MBA is best in USA? Is USA good for MBA? What are the top MBA programs in The United States? Top 100 Best Business Schools (MBA) Ranked in 2021, Rankings of top business schools MBA in America. U.S. Most Popular MBA Programs Universities Business School in United States, want to Pursue Most Popular American MBA Programs, Here are Top 100 Ranked MBA Programs Universities and Colleges Names In the United States (USA).

Harvard University
Cambridge, USA

Master of Business Administration
Stanford University
Stanford, USA

Full-Time MBA
The University of Chicago
Chicago, USA

Master of Business Administration
University of Pennsylvania
Philadelphia, USA

Massachusetts Institute of Technology
Cambridge, USA

One Year MBA
Northwestern University
Evanston, USA

Columbia University
New York, USA

Princeton University
Princeton, USA

Master in Finance
University of California - Berkeley Campus
Berkeley, USA

Full Time MBA
University Of Michigan
Ann Arbor, USA

Full Time MBA
New York University
New York, USA

Duke University
Durham, USA
Global Executive

University of California - Los Angeles Campus
Los Angeles, USA

Full-Time MBA
Yale University
New Haven, USA

Dartmouth College
Hanover, USA

Carnegie Mellon University - USA
Pittsburgh, USA

Master of Business Administration
Cornell University
Ithaca, USA

Two-Year MBA
The University of North Carolina at Chapel Hill
Chapel Hill, USA

The University of Texas at Austin
Austin, USA

Full-Time MBA
Indiana University
Bloomington, USA

Master of Business Administration
University of Virginia
Charlottesville, USA

Emory University
Atlanta, USA

Two-Year MBA
Texas A & M University
College Station, USA

Full-Time MBA
Georgetown University
Washington DC, USA

Master of Business Administration
University of Southern California
Los Angeles, USA

The Ohio State University
Columbus, USA

Hult International Business School - USA
Cambridge, USA

One Year MBA
University of Illinois at Urbana-Champaign
Champaign, USA

Master of Business Administration
University of Minnesota, Twin Cities
Minneapolis, USA

Master of Business Administration
Florida International University
Miami, USA

International MBA
University of Washington
Seattle, USA

Full Time MBA Program
Arizona State University
Tempe, USA

Full Time MBA
University of Wisconsin-Madison
Madison, USA

Full Time MBA
Boston University
Boston, USA

Full Time MBA
Washington University in St Louis
St Louis, USA

Vanderbilt University
Nashville, USA

Master of business Administration
Michigan State University
East Lansing, USA

Full Time MBA
Pennsylvania State University-University Park
State College, USA

MBA Program
Brigham Young University
Provo, USA

University of Notre Dame
Notre Dame, USA

One Year MBA
University of Maryland
College Park, USA

Full Time MBA
Rice University
Houston, USA

Masters of Business Administration
University of California - Irvine Campus
Irvine, USA

Full Time MBA
Purdue University
West Lafayette, USA

MS Marketing
Boston College
Boston, USA

Master of Business Administration
Georgia Institute of Technology
Atlanta, USA

Full Time MBA
University of California, Davis
Davis, USA

Brown University
Providence, USA

Executive MBA
University of South Carolina
Columbia, USA

One-Year MBA
Temple University - USA
Philadelphia, USA

Global MBA
Johns Hopkins University
Baltimore, USA

University of San Francisco
San Francisco, USA

Full Time MBA
George Mason University
Fairfax, USA

University of Pittsburgh
Pittsburgh, USA

Master of Business Administration
Southern Methodist University
Dallas, USA

Full Time MBA
University of Rochester
Rochester, USA

Full Time MBA
University of Denver
Denver, USA

Master of Science in Management
University of Colorado Boulder
Boulder, USA

Leeds MBA
University of California, Santa Barbara
Santa Barbara, USA

MA in Economics
California Lutheran University
Thousand Oaks, USA

Master of Business Administration
University of California - San Diego Campus
San Diego, USA

Full- Time MBA
The University of Texas at Dallas
Richardson, USA

Full-Time MBA Program
University of Miami
Coral Gables, USA

Full Time MBA
University of Arizona
Tucson, USA

Full Time MBA
University of Iowa
Iowa City, USA

Professional MBA Program
University at Buffalo
Buffalo, USA

Full Time MBA
Case Western Reserve University
Cleveland, USA

University of Georgia
Athens, USA

University of Florida
Gainesville, USA

Full-Time MBA
Northeastern University
Boston, USA

Full Time MBA
Auburn University
Auburn, USA

Master of Business Administration
University of Connecticut
Mansfield, USA

Full-time MBA Program
University of Massachusetts Boston
Boston, USA

Rutgers University
Newark, USA

University of Missouri
Columbia, USA

Master of Business Administration
The University of Utah
Salt Lake, USA

Full Time MBA
Babson College
Boston, USA

Two year MBA
Pepperdine University
Malibu, USA

Full-Time MBA
The George Washington University
Washington DC, USA

Global MBA
Tulane University
New Orleans, USA

Master of Business Administration
Thunderbird School of Global Management
Glendale, USA

Master of Global Management (MGM)
University of Nebraska - Lincoln
Lincoln, USA

University of Alabama
Tuscaloosa, USA

Master of Business Administration
Virginia Polytechnic Institute and State university
Blacksburg, USA

Professional MBA
Louisiana State University
Baton Rouge, USA

Clemson University
Alexander City, USA

MBA in Entrepreneurship & Innovation
Colorado State University
Alexander City, USA

Master of Business Administration
Drexel University
Philadelphia, USA

Full-Time MBA
University of Hawaii at Manoa
Honolulu, USA

Master of Human Resource Management
Florida State University
Tallahassee, USA

Accelerated Master of Business Administration
Miami University-Oxford
Oxford, USA

MBA Programme
University of Cincinnati
Cincinnati, USA

MBA Full-Time
Oregon State University
Corvallis, USA

Master of Business Administration in Marketing
Baruch College
New York, USA

MBA - Marketing
Baylor University
Waco, USA

Full Time MBA
The University of Memphis
Memphis, USA

International MBA
San Diego State University
San Diego, USA

Master of Business Administration
Claremont Graduate University
Claremont, USA

The Drucker MBA Program
North Carolina State University
Raleigh, USA

Full-Time MBA
Iowa State University
Ames, USA

Master of Business Administration
University of South Florida
Tampa, USA

Master of Business Administration (MBA)
DePaul University
Chicago, USA
The DePaul

American University
Washington DC, USA

Full-time MBA
University of Oklahoma
Norman, USA

MBA Full-Time
University of Houston
Houston, USA

Full-Time MBA
Texas Christian University
Fort Worth, USA

Full Time MBA
University of Tennessee
Knoxville, USA

Full-Time MBA
Binghamton University
Binghamton, USA

University of Delaware
Newark, USA

Syracuse University
Syracuse, USA

The University of Illinois at Chicago
Chicago, USA

Full-time MBA Program
Rensselaer Polytechnic Institute
Troy, USA

University of Kansas
Lawrence, USA

Masters of Business Administration
University at Albany-SUNY
Albany, USA

Full Time MBA
Texas Tech University
Lubbock, USA

Stem MBA
Fordham University
Bronx, USA

Full - Time MBA
West Virginia University
Morgantown, USA

Bentley University
Waltham, USA

Emerging Leaders MBA
University of Oregon
Eugene, USA

Master of Business Administration
University of Tulsa
Tulsa, USA

Mississippi State University
Starkville, USA

University of Kentucky
Lexington, USA

One Year MBA
Northern Arizona University
Flagstaff, USA.

USA Best Top MBA Business Schools Ranked in 2023, US Top MBA Colleges in USA, Ranking 2021, Fees, Courses, according to US News. You want to know Best Executive MBA Programs and Best International MBA Programs, Here are the top MBA programs Colleges in the USA, Best Business Schools in the USA.
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Sep 6, 2019

Business Process Customers Orientation Study Notes

Business Types Activities Process

Business Process Customers Orientation Study

The concept of business process orientation (BPO) is the continuous efforts work done by the Deming Walton, Porter Davenport Short, Hammer, Grover et al, Coombs and Hull. by using This BPO process firms can enhance their overall performance by adopting a process approach. McCormack conducted an empirical study to explore the relationship between BPO and enhanced business performance. The result showed that BPO is important in reducing conflict and encouraging greater connectivity within organization, improving business performance. Another empirical study done by Kohlbacher, showed that BPO is positively associated with customer satisfaction, product quality, delivery speed and time-to-market speed. The follwing persons Deming, Porter, Davenport, Short, Hammer, Byron, Imai, Drucker, Rummler-Breche and Mellon suggested to have requires a new approach and a new way of thinking about the organization, that will result in improvement dramatic business performance. This "new way of thinking" is commonly described as a business process orientation. A business process culture is a culture that is cross-functional, customer oriented, process and system thinking. This can be expanded by combining elements of Davenport's process orientation, Davenport emphasized the commitment to process improvement, which directly benefits customer and business process information-oriented systems. Finally, Hammer described "process Thinking "as cross-functional and result oriented. They used four categories to describe the components of an organization. Here are: Business Processes and Structures: Management and Measurement System Values and Beliefs

Customers Orientation Definition

For run a good and successful business you have to develop a reputation with your customers. your business understands and acts on the importance of customer orientation, as an ethical business that cares for and delivers value. Customer orientation is the belief, when your customers are happy and their needs are met, then customer retention increases, this means what your target customer wants from you. customer-oriented small business focusing on your customer's desires and anticipating their needs, customer orientation shopping with you provides stress relief rather than stress-inducing.

Customer Orientation Importance

To find a new customers can be expensive, for small business owners who don't have  extra capital to invest in marketing. If you provide very small budget services, it is less expensive to find new customer and hold back a satisfied customer. When you offer exceptional high budget customer service like Apple or incredible knowledge like Best Buy, you retain your customers coming back and continuing in what you offer. This means protecting your bottom line, growing it and strengthening your reputation, all without spending more than justified on customer acquisition.

Customer Orientation Strategies

The best way to follow customer orientation strategies into your business is to offer best quality of customer services and care, so that your customers don't want to go anywhere else. For example Apple started as a small business, but their focus on customer orientation inspired them to set up unique iPhones with marketing and customer care services unlike anything in the industry. Twin Cities began as a Best Buy "Sound of Music" in the suburb and retains their customers by knowledgeable and trained supportive sales person. You have to always think about your's customers at every level of your company, and with every decision, your company can be flexible and meet customer needs in an equal way.

Customer Orientation Skills

Customer orientation skills are very. Important at every level of business, your team members should have customer orientation skills, which will play key role in your success. While a large corporation of 25,000 employees can overcome some employees with being behind the curve, but for small businesses every employee should deliver excellence customer orientation skills and they really feel it. Here are some ways to incorporate customer orientation skills in your employees.

treat your employees the way you want them to treat their customers.

Your mission to include promise and values for your customers.

Arranged customer training on product knowledge, troubleshooting and customer care.

Give best training to your employees, Equipment and empower your employees to resolve customer concerns and problems in coordination with others.

Give customers a best and easy platform to share feedback, offer loyalty programs and individualized care.

Keep your standards high and hire high quality efficient trained staff who believe in those standards.

Sep 3, 2019

Social Responsibility Management Ethics Study Notes

Social Responsibility Management Ethics Meaning

Social Responsibility Management Ethics Meaning

Social responsibility is an ethical framework, to act at large for the benefit of society, by an organization or an individual.  Social responsibility is a duty for each person, to maintain Balance between economy and ecosystem. although it has been challenged by several reports over the past decade. This is not only for business organizations but also for all those whose actions affect the environment. Social responsibility aims to ensure safe health care for people living in rural areas and eliminate all obstacles such as distance, financial status, etc. Social responsibility should be intergenerational that is one generation protect environmental resources for next generation. Businesses can use ethical decision making to secure social responsibility. companies should follow the United States Environmental Protection Agency (EPA) guidelines, for emissions on hazardous pollutants and to join the community and address those concerns, Which may be for the public benefit. According to some experts, the creation of most rules and regulations is caused by public outrage, which threatens profit maximization and therefore shareholder well-being, and if there is not an outrage, there will often be limited regulation.

Corporate Social Responsibility

Corporate Social Responsibility or CSR is defined by Lord Holme and Richard Watts, according to them "Making Good Business Sense", Improving Business Ethically and Economically Quality Continued commitment to contribute to economic development. Which is published in publication by the World Social Business Council for Sustainable Development. CSR is one of the latest management strategies, where companies try to create a positive impact on society, lives of the workers and their families as well as the local community and society at large. while doing. business. Evidence suggests that CSR taken voluntarily by companies will be more effective and efficient than CSR mandated by governments. There is no clear definition of corporate social responsibility, Every company has different CSR objectives, although the main objective is the same that is to improve qualitatively management of people and processes and, quantitatively impact on society. The second is as important as the first for every stake holders of  company. how they are affecting the environment and society. behind the second it's motive is that companies should only be profitable. While many corporations have incorporated social responsibility in their operations, it is still important for those purchasing products and services to ensure that products are socially sustainable. There are Various Verification tools are available internationally from many institutions, such as Underwriter Laboratories Environmental Standards, BIFMA, Business and Institutional Furniture Manufacturer's Association, is a non-profit organization that works for creating voluntary standards that would promote safe working environments. BioPreferred and Green Seal. These resources help corporations and their consumers identify potential risks associated with a product's lifecycle and enable end-users to confirm that the corporation's behavior comply to social responsibility ideals. scientists and engineers should be morally responsible for the negative consequences, that result from various applications of their knowledge and inventions. scientists and engineer should have ethical guidelines for the conduct of scientific research. scientists and engineers, both individually and collectively, have a special and much greater responsibility than average citizens regarding the generation and use of scientific knowledge. The International Organization for Standardization "will encourage voluntary commitment to social responsibility and provide general guidance on concepts, definitions and methods of upcoming technical knowledge.

Management Ethics

Management Ethics' deals with social accountability of a company. It is a discipline dealing with good and bad, right and wrong,  moral and obligation.It is a standard of behavior that guides individual or managers in their actions. It is a set of ethical principles that govern the actions of an individual or group, social responsibility, ethically, what is right and what is wrong.

Types of Management Ethics 

Archie B. Carroll find out three types of management ethics and standards of conduct. Which is given below,

Immoral Management Ethics 

Immoral management means the actions and practices followed by managers is lack of ethical practices. Managers want to get the maximum benefit and profit, even if it is at the cost of legal standards or is a concern for employees.

Moral Management Ethics 

According to moral management ethics, managers aim to earn maximum profit within the limits of ethical values and principles. They follow and conform to professional and legal standards of conduct. Guiding Principles in Ethical Management Ethics "Is this action, decision, or behavior appropriate for us and all parties.?

Amoral Management Ethics 

This type of management ethics is between ethical and unethical management ethics. Managers respond to personal and legal ethics only when they are required to do so, Otherwise there is a lack of moral understanding and awareness. There are two types of amoral management ethics intentional and unintentionally. In Intentional Managers intentionally avoid ethical practices in business decisions because they feel that ethics should be followed in non-business activities. and in unintentionally Managers do not deliberately avoid ethical practices but make decisions spontaneously Whose moral implications are ignored.

Approaches to Management Ethics

There are three approaches to management ethics.
Utilitarian approach,
Moral rights approach,
Social justice approach,

Utilitarian Approach

In utilitarian approach, managers analyze the effects of decisions on the people, affected by these decisions taken by the managers. Action is the focus of this approach rather than the motive behind the action. Positive and negative outcomes are weighed and managerial actions are justified, if positive effects outweigh negative effects. Analyzing pollution standards and the impact of pollution on society is a management ethics, code under a utilitarian approach.

Moral Rights Approach

In moral Rights approach, managers follow an ethical code that takes care of the fundamental and moral rights of a man. Such as, Right to speech, right to life and security, right to express feelings, etc. In the context of business organizations, managers disclose information in relevant annual reports that are necessary for the welfare of the people concerned. The nature,amount of information, timing and validity of the information is taken into account while giving information in the annual report.

Social Justice Approach

According to social justice approach, managers' actions are fair, impartial and equal for all individuals and groups. Employees are not treated on the basis of race, religion, race or gender, although a distinction based on skills abilities or production is appropriate. For example, all employees, men or women with similar skills, should be treated equally, but it is appropriate to treat employees with less production and less skills.

Aug 30, 2019

Flexible Systems Management Study Notes

Flexible Systems Management

Flexible Systems Management Development

All disciplines which are available in the world, including management. For the development of any science,  technology, business, management discipline, uses the previous available research knowledge as background, The trend of integration in different systems is emerging very rapidly, in the field of both system methodology and decision making in the field of support systems and artificial intelligence. Flexible Systems Management, will serve as a research method for management in the developments of new paradigm, trends and flexibility. Flexibility in system management means the ability to deal with slightly or the variation in the process sequence. Flexibility is used as a characteristic of a wide variety of systems. In the field of engineering systems design, it refers to a system designs that can adapt external changes when external changes occur. Flexibility is defined differently in many areas such as engineering, architecture, biology, economics, and more. Engineering can define flexibility in terms of design as the ability of a system to respond to potential internal or external changes that affect its value, in a timely and cost-effective manner. Thus, flexibility for a system is to respond uncertainty in order to maintain or enhance its value distribution. Uncertainty is the main key element in the definition of flexibility. Uncertainty is responsible for create both risk and opportunity in a system, existence of uncertainty that flexibility becomes valuable. John Atkinson's Flexible-Firm Model) is a managerial and organizational technique used to optimize the allocation of human resources according to market volatility and workforce flexibility. It defines two distinct groups of workers, the core and peripheral groups, which are organized within the company based on three types of flexibility: functional, financial and numerical. There are different types of flexibility which are given below.

Machine flexibility

Machine flexibility is the ability of a given machine to produce a wide range of production operations and different products design and styles. The greater the range of operation process and part styles of the machine, the greater the flexibility of that machine. The various factors on which a machine's flexibility depends are the setup or turnaround time, various programs can be downloaded to machines, the equipment storage capacity of machines, and the efficiency of the machines.

Production flexibility

Production flexibility is the range of producing products that can be built on the system. The range of products styles that can be produced by a manufacturing system at reasonable cost and time is determined by the process evolved into production. Production flexibility depends on many factors including the machine flexibility, range of machine in the system.

Mix flexibility

Mix flexibility is the process of changing the product mix while maintaining the same total production volume, which produces the same parts only in different ratio. This is called process flexibility. Mix flexibility is used, for provides protection from market volatility by changing product mix by the use of shared resources. However, higher mixing variations are required for greater numbers of equipment, fixtures, and other resources. Depending on factors such as composite ductility, uniformity of parts in the mixture, machine flexibility, and relative work material time of the produced parts.

Product Flexibility

Product Flexibility. is an ability to change new requirements of products economically and rapidly according to market requirements. The change over time is required for designing, planning, tooling, and fixturing of new products in the manufacturing line-up. Product Flexibility depends upon new part design with the existing part family. Off-line part program preparation and machine flexibility

Routing Flexibility

Routing Flexibility is defined as the ability to produce parts at an alternative workstation in case of equipment breakdown, equipment failure and other disruption at a particular station. This helps to increase output in the presence of external changes such as product mix, engineering changes, or new product introductions. Factors that determine routing flexibility include uniformity of parts in the mix, uniformity of workstations, and general tooling.

Volume flexibility

Volume flexibility is the ability of the system, to vary production volumes of different products to accommodate changes in demand while remaining attractive. It can also be called capacity flexibility. Factors affecting volume flexibility are the level of manual labor performance output, the amount invested in capital equipment,

Extension flexibility

Extension flexibility is the process by which the system can be expanded to increase the total production volume. Expansion flexibility depends on many factors including the cost of adding new workstations and trained workers, expansion of the layout, type of part handling system used.

Flexible Systems Management Advantages 

Reduced Manufacturing Costs Per Unit,
Lower Production Cost,
Higher Labor Productivity,
Greater Machine Efficiency,
Better Quality,
Increased System Reliability,
Better Efficiency Increase Production Rate.

Flexible Systems Management Disadvantages 

Initial set-up cost is high,
adequate pre-planning skilled labor required,
complex system maintenance.

Aug 23, 2019

Managing in a Global Environment Management Study Notes

Managing Global Environment Management

Managing Global Environment Management Study 

The analysis of the company on the basis of global environment is called global environmental analysis. This analysis also includes various other analysis such as, industry analysis, market analysis, analysis of companies, customers and competitors. There are two types of analysis in a company, macro level and micro level analysis. Except for global environmental analysis, all other analysis are the microscopic level analysis. However, global environmental analysis is company's macro environment analysis. Many environmental factors, affect the companies decisions, opportunities and risks for the company's business. The company follow different tools for analyzing the global environment.
These tools are called PESTLE analysis. Managing in Global Environment, meaning is managing a business or firm globally. Managers deal both global and  home country issues in foreign work facilities globally. global environment economy creates both opportunities and threats for managers. Every organization is affected and becoming more diverse and complex for  managing in a global environment.

PESTLE Analysis

PESTLE analysis is a tool for analyzing the company's external environment PEST refers to political, economic, social and technological factors. Two further factors, legal and environmental, are defined within the PESTLE analysis. these environmental factors are interdependent and they change over the years consequently, when one factor changes it affects the others as well. These environmental factors should remain in equality for every company. There are Various environmental factors, which are covered below.

Political And Legal Factors

Political and legal factors are considered here as a single entity. They refer to Existing regulatory or legal frameworks, which regulated on regions, nations or international grounds. For example let's deal with issues related to the labor market. Which falls under the category of economic issues. According to the degree of assistance, a country may be more or less attractive to a company, In relation to the labor law of a country. The company location can greatly influence decisions. If Dismissal protection is very good in a country, a company choose a country with a more flexible hire-and-fire-system and the stability of a political system in that country. Political stability is a most important aspect for most of the companies. a social market economy with rights for co-determination, regulations for patents, the company's investment and environment protection are main characteristics for a company, for which the political stability is very important in which country the company has established.

Economical Factors 

Affordable economical factors have a direct impact on supplier and consumer markets for national or international economic development. economic factors that play a big role in GDP, inflation rate, interest change rate, employment or money market situation. These economical factors affect demand, intensity of competition, cost pressures and willingness to invest. For example, if a country's gross domestic product is lower, then that country demand will be lower, compair to that countries which GDP is higher.

Social Factors

Social factors is very important for dealing with social issues such as social values, ideas, opinions, and the culture of market participants. Market partners can be employees, customers or suppliers. Through their contact with the company, they influence company by their opinions. The company needs to follow the changes in the value, according to the market partner and adapt their strategies. Nowadays, a change of values related to environmental protection is going on.

Technological environmental factors

Technological environmental factors are a very important factors for industrial companies, which are undergoing day to day very fast technological change. The increasing and very fast technological changes in industrial work, such as microelectronics or robotics, shows the very high potential risk for the company. Particularly for manufacturing production companies, that are affected by rapid growth in Technological environmental factors.

Environmental Factors

Finally now days environmental factors are becoming more and more important. These factors form the basis of natural resources and human life. Among them, availability of raw materials and energy is the main concern. As the availability of fossil fuels such as oil or coal are decreasing over the decades, availability of those fuels becomes quite risky. Furthermore, to show an ecological responsibility, companies must use less raw materials and should develop new technology to prevent increasing pollution, environmentally friendly management gets more and more, environmentally friendly products or technologies to take the competitive advantage.

Methods For Global Environmental Analysis

According to six presented factors of PESTLE analysis, Segmentation is the starting point of global environmental analysis. The analysis can be done with the help of a checklist that evaluates each criteria of a section. In general, each section needs to work systematically to identify changes, so that the factors and its effects can be properly interpreted. After segmentation, the analysis consists of four steps these are, 
Environmental Scanning,
Environmental Monitoring,
Environmental Forecasting,
Environmental Assessment,

Environmental Scanning 

The first phase is called environmental scanning. Through environmental scanning, every section is analyzed to find trend indicators. after examining the section, indicators of its development are defined. According to Fahey and Narayanan, scanning reveals real or imminent change because it clearly focuses on that areas, which may have previously neglected by the organization. Scanning is also used to detect weak signals in the environment before they become entangled in a recognizable pattern that can affect the organization's competitive environment. Content such as television, newspapers and magazines may be included, This method of scanning is called media-scanning. Product-scanning involves the scanning of products that announce consumer behavior to re-emerge. The search for global trends on the Internet can be defined as online-scanning. Francis Joseph Aguilar in 1967s distinguishes between indirect viewing, conditioned viewing, informal search, and formal search. 'Indirect viewing' means reading a variety of publications for a specific purpose without the possible exception of exploration. This mode is the most cost effective, but also provides the most benefits. There are lots of diverse sources and information, which means that the potential data are unlimited. The data are imprecise and unclear, and there are no guidelines that determine where the search should be focused. By applying 'conditioned view', the viewer pays attention to particular types of data and assesses their importance to the organization. The field of information is more or less clearly identified. informal search can be actively defined to obtain specific information in a relatively unstructured way. The opposite of informal search is called 'formal search'. This active mode of scanning includes methods of obtaining information for specific purposes. 

Environmental Monitoring 

Environmental monitoring is a 'process of repeating for one or more elements or indicators of the environment, according to a pre-determined schedule in space and time, for defined purposes using comparable methodologies for environmental monitoring and data collection. data about environmental development are recorded, followed, evoluted and interpreted, For historical development changes that are important to the company.

Environmental Forecasting

Forecasting of environmental trends is necessary to get a picture of the future. This is done by adequate methods, such as strategic foresight or scenario analysis. The following are several other methods of forecasting, such as guessing, rule of thumb, expert judgment, extrapolation, leading indicators, surveys, time-series models and econometric systems. The 'guessing' and related methods depend entirely on luck. generally this is not a useful method. Furthermore, it is almost impossible to evaluate the uncertainty of an estimate in advance. Valid expert judgment lacks validation as being the only component of the forecast. It is difficult to guess which 'oracle' is successful. 'Extrapolation' is effective when it occurs. Forecasts are most effective when changes are predicted in trend. 'Forecasting based on leading indicators' requires a stable relationship between the variables that lead. Indicators can give misleading information if the reasons for leads are not clear. 'Surveys' of businesses can give information about the future. They rely on planning that should be realized. Changes in business lead to changes in planning. 'Time-series models' are popular forecasting methods. They describe historical patterns of data and they focus on measurable uncertainty. The econometric system of analyzes is the main tool of economic forecasting. They consist of equations that attempt to "model" the behavior of economic groups such as consumers, producers, workers, investors, driven by historical experience. 

Environmental Assessment

The results of the last three stages scanning, monitoring, forecasting discovered environmental trends, that are reviewed to estimate their probability to evaluate whether they represent a chance or a risk to the company. opportunities or risks is also important for the company.  a response strategy needs to be defined for the risks or opportunities that occur. This is done with the help of the points-effect-matrix, which is an adequate tool for evaluating and prioritizing trends. According to their classification, they display Factors with a high incidence probability and a high, significant impact on the company. High priority, rapid response is needed to avoid risks and to benefit from opportunities. Environmental assessment represents the final stage of global environmental analysis.

Aug 20, 2019

Innovation Management Study Notes

Innovation, Management, Study

Innovation Management Complete Study 

Innovation management is the process and concepts of innovation. Which characteristics describe innovative models of innovation process, dimensions of creating innovations capability potential to succesfully create innovations outcome. Innovation management is the process of combination of innovation and change management. It includes product, business process, marketing and organizational innovation. Innovation management is the subject of the ISO 56000 series, developed by ISO TC 279. Innovation Management is based on the ideas of Austrian economist Joseph Schumpeter, who Identified in 1930s, an important factor in economic development. in his book "Capitalism, Socialism and Democracy" first time fully developed the concept of creative destruction. Innovation management provide opportunity to develop new ideas, processes or products in industry. Creativity is the basis of innovation management, to change in services or business process, Innovative ideas are the result of two consecutive stages, imitation and invention. innovation management tools, trigger and deploy the creative capabilities of the work force. Common innovation management tools are brainstorming, prototyping, product life cycle management, facilitation, TRIZ, phase-gate models, project management, product line planning, and portfolio management. The goal of innovation management is to create a suitable encouraging innovation environment within organization. Innovation management allows an organization, to create external or internal opportunities, for creativity to introduce new ideas, processes, or products.

Managing Complex Innovation

Innovation is a technological change that improves previous process and practices, To lead or sustain innovations. Innovation managers need to focus too much on innovation networks, to deeper understanding of the complexity of innovation. Collaboration with a network of organizations is an important source of innovation, and take comparative advantage, and operating in a coordinated manner. When a new technology undergoes a major transformation and achieves a successful innovation, Then it becomes more useful and great learning experience, not only for the parent industry but also for other industries. Large innovations are carried out by combination of implication and explicit knowledge, as well as inter-interdisciplinary networking between technical areas. Networking is very important for innovation, but network integration is the key to success for complex innovation. there are several ways to encourage organizational networking and cross-functional innovations, such as Socioeconomic zones, technology corridors, free trade agreements and technology groups.

Innovation Management Tools

Antonio Hidalgo and Jose Elbor proposed use of innovation management tools. The study at European level found 10 typologies for knowledge-driven innovation management tools. These typologies have 32 features that classify innovation management tools. The benefit of using typology is the easy integration of new methods, and the availability of a wider scope of tools.
There are following innovation management typologies and tools.

Knowledge Management Tools,

Knowledge Audit, Knowledge Mapping, Document Management, Intellectual Property Rights Management.

Market Intelligence Tools, 

Technology Watch, Search, Patent Analysis, Business Intelligence, CRM, Geo-Marketing.

Cooperative & Networking Tools,

Groupware, Team Building, Supply Chain Management, industrial clustering, agile

Human Resource Management Techniques, 

telecommunications, corporate The approach of intranet, online recruitment, e-learning, capability management, flat organization.

Interface Management Tools,

research and development, marketing interface management, brainstorming, concurrent engineering.

Creative Development Techniques,

lateral views, TRIZ, SCAMPER method, mind mapping.

Process Improvement Techniques,

benchmarking, Workflow, Business Process Re-engineering, Just-in-Time.

Innovation Project Management Techniques,

Project management, project evaluation, project portfolio management.

Design and Product Development Management Tools,

computer-aided design, rapid prototyping, usability standpoint, quality function deployment, value analysis.

Business Creation Tools, 

business simulations, business planning, to research the market spin-off

Innovation Management Economic Theory

Management of innovation economic theory has been studied by Philippe Aghion and Jean Tirole. the theory is based on the Grossman Hart Moore property rights approach to the theory of the firm. this theory tells about, optimal allocation of property rights, that helps reduce the hold-up problem.

Aug 19, 2019

Entrepreneurship Management Study Notes

Entrepreneurship Management Study

Entrepreneurship Management Study

Entrepreneurship is the terms, which is used for designing, launching and running a new business, initially who create a small business, are called entrepreneurs. Entrepreneurship is the process  to translate inventions or technologies into products or services, to develop, organize and manage a business venture, with high risks involved in launching a start-up, to make profit. The Entrepreneurship Management is the most important part of management and business, especially for enthusiastic people. management entrepreneurship and its importance meaning, Nature, Scope, Functions depend upon market surveys and research. Therefore entrepreneurship Management becomes an essential part of  of management curriculum studies.

Elements Of Entrepreneurship

The French economist Jean-Baptiste in the early 19th century given a broad definition of entrepreneurship, according to him entrepreneurship "transfers lower economic resources to higher productivity and higher yields products or resources". Entrepreneurship largely ignored theoretically, during the late 19th and early 20th centuries, In the 20th century the work of economists Joseph Schumpeter in the 1930s, and other Austrian economists such as Karl Menger, Ludwig von Miesz and Friedrich von Hayek. give more emphasis on the entrepreneurship, According to Schumpeter, Entrepreneurship employment is called, the thunderstorm of creative destruction, creating new products, or business models, replace whole or partially inferior products or business in markets. creative destruction is largely responsible for the mobility of industries and economic growth.

There are following entrepreneurial's exploitation opportunities, which include,

developing a business plan,
hiring human resources,
providing financial and material resources, providing leadership,
being responsible for both the success or failure of the enterprise,
avoiding risk.

Entrepreneurship types that can operate within an ecosystem includes,
government programs and services that promote entrepreneurship and support entrepreneurs, and start-ups non-governmental organizations such as small business associations and organizations, that support entrepreneurs.
governments should increase support for small business, by making friendly laws and regulations. Entrepreneurship education and training programs provided by schools, colleges, and universities, financing Loans, venture capital financing, private angel investment and government grants.

Types of Entrepreneurs

There are following types of entrepreneurs.
Project Based,


In the United States and Europe, self-employed business owners who belong to racial or ethnic minority groups, was ethnic entrepreneurship. academic research find  the experiences and strategies of ethnic entrepreneurs, as they attempt to integrate economically, American or European mainstream society. in the 19th and early 20th centuries, Chinese and Japanese small business owners, restaurants, farmers, shop owners on the West Coast are ethnic entrepreneurship. In the 2010s, ethnic entrepreneurship has been studied in the case of Cuban business owners in Miami, China, Indian motel owners in the United States, and Chinese business owners in Chinatown in the United States. entrepreneurship provides these groups many opportunities for economic advancement, self-employment, and business ownership in the United States.


American born British economist Edith Penrose has described the modern organizations, and collective nature of entrepreneurship. to combine human resources to capture better opportunities and create business opportunities. Sociologist Paul DiMaggio has expanded this view to say that, "when organized artists are born with sufficient resources institutional entrepreneur, they give high importance to opportunity to realize the interests that they have". The notion has been widely applied.


Christopher Rea and Nicolai Wolland explain cultural entrepreneurship, according to them, it is the practices of individual and collective agency, characterized by the cultural businesses and cultural production", which refers to creative  industry.


Who applies feminist values and attitudes, in entrepreneurship, is called feminist entrepreneur, their goal is to improving the quality of life and well-being of girls and women. Many are doing this by creating enterprises, for women, by women. Feminist entrepreneurs are motivated for enter into commercial markets, with a desire for wealth and social change, on the ethics of cooperation, and mutual respect.


Social entrepreneurship companies and entrepreneurs deal with, fund and implement of solutions to social, cultural or environmental issues. This concept can be applied to different organizations with different shapes, objectives and beliefs. social entrepreneurs are nonprofitable or benefit to produce a positive change to society". Social entrepreneurship generally works on broader social, cultural and environmental issues. such as poverty alleviation, health care and community development. Sometimes, profit making social enterprises can be established, to support for the social or cultural goals of the organization, For example, an organization that aims to provide housing and employment to the homeless, they can operate a restaurant to raise funds, and to provide employment for the homeless.


A newborn entrepreneur or nascent entrepreneur can be seen as pursuing an opportunity, possibility to introducing new services or products, for serving new markets or developing more efficient products for making profit. Its precedence and value cannot be pre-confirmed, but nascent entrepreneur undertakes actions towards setting up an enterprise, Finally these actions can lead to a path, that makes the nascent entrepreneur more attractive viable, to emerge business. over time, the nascent enterprise may move toward closure or successfully emerge an operating entity. behavior-based classification is The difference between newcomers, serial and portfolio entrepreneurs. newborn entrepreneurs often seek and purchase facilities and equipment, receiving financial support, forming legal institutions, organizing teams, and dedicate all your time and energy to your business.

Project Based 

Project entrepreneurs are temporary organizations. they are repeatedly engaged in assemblies or building the organizations, with limited lifetimes till the creation of a singular project or goal, and dissolve rapidly upon project completion. Project Based Industries are widespread include, sound recording, film production, software development, television production, new media and production. To make project-based entrepreneurs must reestablish these temporary ventures, and modify them to suit the needs of new project opportunities. A project entrepreneur who used a certain approach and team for a project, face two important challenges, which are the creation of a new venture, and finding the right team to take advantage. Solving the first challenge requires the extensive information needed to seize new investment opportunities. Solving the second challenge requires, to make collaborative team that has to fit in to reduce the risk and best performance.


The term "millennial entrepreneur" refers to a business owner, who were born in the 1980s and early 1990s called Y generation. these business owners are well equipped with new technology like digital technology, mass media, and knowledge of new business models with strong hold on his business. There are many strong businesses for centuries, such as Mark Zuckerberg, who created Facebook. in Millennial business, who start latter is higher. The reason for this is because they grew up in a different generation and outlook, than their elders. Some barriers to entry for Millennial entrepreneurs are the challenges of the economy, loans from Bank, and governments regulatory compliance.

Entrepreneurship Entrepreneurial Behaviors

Innovation, a designer of new ideas business processes, management skills, strong team building capabilities and leadership qualities are very essential for a successful entrepreneurs. There are following entrepreneurial behaviors should be in a good entrepreneurs.

Uncertainty Perception And Risk Taking

Theorists Frank Knight and Peter Drucker defined entrepreneurship is a risk taking process. The entrepreneur take risk for his new idea, and willing to put his career and financial security in line, and spend time as well as capital on an uncertain venture.

Coachability And Advice Taking

The advice from early investors and other partners is an important factor for entrepreneurial success. This research also suggests that older and older founding teams, perhaps with greater subject expertise, are less restrained than younger and younger founding teams.


There are following Strategies that entrepreneurs use.
Innovation of new products, services, or processes,
Continuous process improvement (CPI),
Exploring new business models using technology,
Using business intelligence to use cost-effective strategic,
Future Development of products and services,
Customized talent management

Designing Individual Opportunity Nexus

According to Shane and Venkataraman, entrepreneurship includes both entrepreneurial individuals, and entrepreneurial opportunities. There is a nexus between individuals and opportunities, Reynolds et al, argue that individuals are motivated to engage in entrepreneurial endeavors, by need or opportunity, individual pursues entrepreneurship primarily because of commercial opportunities, that meet their need for achievement of high economic growth.

Opportunity Perception And Biases

According to Joseph Schumpeter, Entrepreneurs characteristics are, to introduce new technologies, products, services, increase efficiency and productivity, or generate new products or services. The entrepreneur has the ability to see the needs of the market, and find out what others are thinking, mass media plays an important role in shaping ideas and demand.


Entrepreneurs should have effective communication within their firm, external partners, and investors to start and develop an enterprise. Entrepreneurs should be charismatic leaders, so that they can effectively communicate a vision for their team, to build a strong team. According to Bom et al. and Cause and Pozner, vision should be communicated to team or others, through written statements and in-person communication. leaders communication is very important, to convince potential investors, shareholders, partners, and employees about the potential of an enterprise. Nonverbal elements in speech such as tone of voice, appearance, eyes contac, body language, gestures of the hand, and state of emotion are also important communication tools.  entrepreneurs effective communication should be able, to reduce the losses, accelerate the benefits of their new product or service, and persuade others to support their venture.

Aug 17, 2019

Top 500 Most Popular Websites Ranking Most Visited Websites

U.S. Top Websites In The United States
Top website name in USA 

World's Top Website Name

Here is a sampling of the most popular websites in the United States. World Top 500 Most Popular Visited Websites List for All Categories in The United States.
U.S. Top 500 Most Popular Websites In United States

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