When should you focus on the task, and when on the team? Find out how to use the Tannenbaum-Schmidt Continuum to choose the best management approach.
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Management challenges in the public sector are often very different from those in the private sector. Learn what those differences are – and what skills you need to succeed in this field.
Don’t let stressful situations get the better of you. Use Lazarus and Folkman’s stress management model to manage your emotions and your actions.
An example of Gantt Chart for an office move – Project Management Tools From MindTools.com.
Avoid cognitive bias and common thinking traps during meetings to improve decision making, judgments, objectivity, risk management, and communications.
Modern day business landscape needs a broad set of skills rather than pure finance, commerce, or management skills that focus on specific skills alone. Thus, HRM strategies must change with the times and concurrently, there is a need for reform of the education sector as well. This means that all stakeholders must come together to broad base the skills of graduates in addition to reworking management education and reorienting it towards the demands of the times.
Strong talent management and establishing a balanced incentive programme are required to retain people and enhance their involvement, engagement and satisfaction level. Lets understand the ways to enhance employee engagement in an organization.
This article examines innovation and the sources of innovation according to the famous management expert, Peter Drucker. In addition, this article also analyses the case study of the 3M organization which is world famous for its innovative and inventive capabilities. The other themes that are explored in this article relate to the difference between ingenuity, innovation, and invention.
Organizations have traditional well developed framework around the marketing mix. But, in the information technology age, it is a challenge to use the same marketing mix for internet marketing strategy. Organizations need to develop plans through which the internet can be used to support and advance brand and product management.
In todays corporate world, there is encouragement for diverse and inclusive work environment. The Decision support system consists of 3 main parts – data management system, model management system and user interface.
There are many reasons why firms do not engage in strategic management or do poor planning. This article discusses some of the common reasons for such a scenario and highlights the important reasons along with stressing the importance of strategic management.
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The article discusses in detail about the recent incidents of workplace violence in the maruti factory in india and the foxconn plant in china and how it affects the industrial relations between the unions and the management.
Job Analysis plays an important role in recruitment and selection, job evaluation, performance appraisal, compensation management and job designing and redesigning.
This article discusses some tips for management graduates appearing for placement interviews. The key theme in this article is that the goal of any management graduate must be to ace the placement interviews and for this, they need to build their profile right from the time they enter the portals of the business schools.
The article discusses in detail the meaning, scope and elements of econometrics. It also talks about the application of econometrics in human resource management.
With the advent of the SHRM or the Strategic Human Resource Management perspective, focus has shifted from treating the employees yet another asset to placing them in the centrality of the organizational processes. This means that the HR managers have to play a critical role in enabling and empowering employees. This article discusses how these objectives play out in the real world.
This article examines the issue of differing reward systems for entrepreneurs/owners and managers when compared to the reward systems for employees from multiple perspectives. The key argument being made in this article is that excessive compensation skews the reward systems and creates perverse incentives for the top management to take unwarranted risk that would ultimately destroy the system.
The article discusses in detail about the need and importance of Directing Function of Management.
Financial planning and forecasting are integral part of strategic finance. The article discusses in detail about – strategic finance, strategic planning and capital management.
Enterprise marketing automation is part of customer relationship management. The main purpose of the enterprise marketing automation is to run different marketing programs within the organization.
In recessionary times, the HRM function has the unenviable task of managing layoffs, motivating employees who remain, and ensuring that the organization practices what it preaches and is not a fair-weather friend to the employees. Further, the companies themselves need to realize that good people management often translates into good economic performance.
For companies to sustain a brand over long period of time, it is absolute essential that marketing program look at strategies around effective brand management.
Strategic Human Capital Management refers to alignment of human capital strategies with the goals and mission of an organization. Let us go through the key components of a Strategic Human Capital Plan.
B2B exchanges were born out of the effort of large business organizations investing on building web based systems to manage their vendor base, streamline procurement and supplier management processes. Lets discuss in detail about the growth of B2B exchanges.
Relationship Management holds the centre stage to designing Marketing as well as communication strategies of the organization. Lets understand the importance of Relationship Marketing in detail.
Culture is essential to global organizations in different aspects especially consumer behavior and management. Lets discuss the importance of understanding culture in a global business environment.
Every management student and future business leader would be interested in knowing about how certain organizations build brand leadership. Lets discuss in detail about – Making of Brand Leaders.
This article attempts to highlight information about the major areas of evaluation which is involved in a selection GD. A Group Discussion tries to assess the following strengths of an individual: Subject knowledge, Oral Communication skills, Leadership and Team Management Qualities. Coverage is provided for the key purposes which can be served from a GD and the benefits of a Group Discussion in the present scenario.
Before you start looking for a 3PL partner, internal alignment with management, clarity of the project and criteria for selecting 3PL Partner is to be worked out in detail.
This article provides a description of Anderson & Anderson’s model of change, it describes the fundamental processes involved in change management and it’s effect on the entire organization. The article further describes the relative strengths and weaknesses of this model.
This article discusses the strategies that laterals or those with work experience who are pursuing a management education can follow. The key theme in this article is that laterals that focus on their niches and concentrate on their specializations that leverage their work experience are likely to succeed than those with skewed priorities.
Employee satisfaction is a state where individuals look forward towards a long term association with the organization. Lets understand the need and importance of a satisfied employee for both the management as well as the employee.
This articles provides a coverage on Job Analysis, the key steps involved in Job Analysis process, explains the concept of Human Resource Planning and the entire process of Human Resource Planning. It further describes how Job Analysis can serve with vital inputs for Talent Management and its strategic importance.
This article discusses the process of choosing the right business school and the kind of major that you want to graduate in. The key theme in this article is that business school education is all about preparing ones profile made of several elements and hence, aspiring management graduates have to start the task of building one’s profile from the time one sets foot in the business school.
Motivation seems to be a simple function of management in books, but in practice it is more challenging. The reasons for motivation being challenging job arediscussed in detail
Management experts say that employee engagement is driven by everyone who deals with the employees be it senior leadership, immediate managers or human resource department. Lets discuss the key players of employee engagement.
This article explains the applications of equity valuation. The applications in varied fields like portfolio management companies and investment banks have been described in this article.
The efficiencies of inventory management are largely dependent upon the skills and knowledge of the inventory planners, the focus and involvement of management and the management policies coupled with the inventory management system.
This article is a case study of the Indian corporates, Infosys, and the TATA group, about the issues being faced by them over the last two to three years and which hold important insights and learning’s for all organizations. As part of the discussion, this article examines several insights that arise from the ongoing sagas of these two firms and which are essential for all students and practitioners of management.
The 24/7 media landscape requires companies to reach out to the media in a positive manner and ensure that the companys viewpoint is articulated correctly and reliably. Corporate communications teams play a vital role in ensuring positive media coverage and proactive media management.
Sales Order Management, Procurement, Inventory management, Logistics etc are few of the important areas that requires regular BPI exercise. Lets discuss in detail about the selection of critical business process for BPI Projects.
Starting a business process improvement program requires active support from the top level management. Lets discuss the various stages/steps involved in a Business Process Improvement (BPI) plan.
Most of the tasks that the HR function does are routine and repetitive and hence, can be automated. With the automation of the recruitment activities through the use of AI and Analytics, the HR staff can save much time and use the saved time and resources to focus on higher value-adding activities. Apart from this, the HR function can also automate the other tasks such as Payroll and some Performance Management tasks. This article examines these themes with an analysis of how automation creates value for organizations.
The article lists down the several advantages of a Database Management System (DBMS).
Product management requires the product managers involvement in every phase of the product lifecycle. Lets understand the functions of a good product manager in detail.
This article examines the common reasons for why most projects run into problems and suggest some ways in which such problems can be handled if not avoided. While it is impossible to have projects without problems, it is also the case that the art and science of project management can be perfected to produce the best possible outcome for all stakeholders.
One of the ways to share knowledge within the organization, among employees, investors and shareholders, is to implement a knowledge-driven decision support system. It provides a strong mechanism for knowledge capturing, storage and management. This article discusses how to build and manage a knowledge-driven decision support system.
Talent management is one of the most important business functions. However, most companies do not focus much on acquiring agile talent and retaining them. But in the face of competition and volatility, acquiring talent agility has become important for businesses. This article helps in identifying talent agility gap in organizations and ways to bridge it.
A KPI is a great tool to measure and control the performance of any given process. It tells the management the precise state of operations at any given point of time.
Getting to know all about E Marketing and how business is transacted online is important for every student of business management as well as for professionals.
Supply chain is the backbone of all industries. Organizations have developed efficient supply chain management strategies as a trade off to be able to gain competitive advantage in the market.
BI (Business Intelligence) tools are database independent and provides access to ERP data, legacy data and off line data. The Corporate Performance Management (CPM) systems are built over the platform of business intelligence.
The fishbone diagram, which also goes by a couple of other names like the Cause and effect diagram and the Ishikawa diagram is one of the seven basic tools of quality management. Lets discuss how exactly does the fishbone diagram helps in brainstorming.
This article introduces the reader to the term IT governance and explains what it means along with the differences between IT governance, corporate governance, IT management, and IT controls. The key theme in this article is to analyze how and why these terms differ and provide a basic introduction to the field of organizational governance, which is a vast ocean by itself.
Gateways and events are used to denote all the possible paths and events that can be taken by a process during its execution. Lets understand the various types of notations used for gateways and events in Business Process Management.
Building and sustaining product leadership calls for excellence in management as well as in Research and Development.
Any employee development system consists of – induction, training, development, performance appraisal and career management. Lets dicuss in detail abouth the information systems for training and development.
It is not enough for project managers to be good at planning and yet fail at implementation. Indeed, most projects fail because they suffer from poor implementation and lack of on the ground knowledge. Thus, it is the case that project managers must keep their eyes and ears to the ground and seek and receive feedback from all personnel irrespective of whether they are part of the planning or the implementation team. Lastly, project management must also contain a manager with implementation experience so that the success of the project is guaranteed.
The article looks at one of the most important issues facing top management regarding grooming leaders from within the organization and then appointing them to the top posts or brining in leaders from outside.
Job analysis is primary tool in personnel management. There are two outcomes of job analysis – Job Description and Job Specification.
Employee Relations consists of all those areas in Human resource Management that involves general relationship with the workforce.
This article introduces the topic of consulting for management. The key theme in this article is that to fulfill the dreams of getting into a consulting firm, graduates and professionals must first understand what the profession is all about and some essential characteristics of the industry.
This article discusses the specific aspect of identifying potential leaders as part of talent management and ensuring that the climb up the Pyramidal corporate ladder ensures that the best and the brightest reach the top and at the same time, does not create resentment among those left behind.
A risk treatment is mainly a part of an effective risk management plan. It details with the strategies on how to deal with the various types of risks.
Any ERP implementation requires expenditure on part of Operating System, Relational Database Management (RDBMS), Networking Issues, Licensing Options etc.
Disaster Recovery Plans mainly covers the risk of disruption to Business Process, Risk of Life to employees, Management Control and Asset recovery.
This article discusses the Six Sigma Plus model of quality management (“the how and what” of the model) along with illustrating the differences between this model and the traditional quality frameworks of TQM (Total Quality Management). There is also a separate section on analyzing the differences between Six Sigma Plus and its predecessor in quality excellence, Six Sigma. The focus throughout the article would be on finding the “Plus” factor that lends the chosen framework the advantage over the traditional frameworks of Six Sigma Plus and TQM.
Competencies have gained a widespread popularity in the human resource management field with a lot of research and debate, the larger ramification being most of the organizations having their own competency framework and definitions.
Not everyone with a degree in management is fit for business to business marketing. Lets discuss the skills required in a Business to Business Marketing Professional.
Whatever be the area of work, be it marketing, project management or production, it is very important to have a customer oriented attitude.
Controlling Process in Management
Under Centralization, the important decisions are taken by the top level of management whereas Decentralization is a systematic delegation of authority at all levels of management.
Brand Identity and Brand Image are two different concepts in Brand Management. The main differences between them are discussed in detail
The public budgets are different from other forms of budgets. The article discusses the various types of budget that are there in the public financial management.
ERP or Enterprise Resource Planning Software integrates the whole lifecycle management processes and provides the top management with a high altitude view of the different business processes. In addition, cost control and autonomy can be achieved as well as making the employees work easier by automating routine and specialized tasks.
Diversity and Inclusivity in organizations should to be practiced by the leaders. Lets discuss in detail how value based management promotes both diversity and inclusivity.
Employees are hired to perform specific duties as per their specialization and previous experiences. Management should know its employees well so as to extract the best out of them.
Corporate Governance has been in the news for the last decade or so following a spate of scandals that engulfed companies like Enron which led to their collapse because of mismanagement. Lets understand what is good corporate governance.
A Pareto chart is one of the 7 basic tools of quality control. It is important for every student of quality management to know how to prepare and how to read this chart. The procedure for the same has been listed in this article.
Board of Directors is a body that is above the management and is accountable to the regulators and shareholders for the decisions taken by the management.
Finance keeps the organizations going and without cost control, profitability, and efficiencies, organizations would cease to exist. This is the reason why the finance function is important. This article discusses these aspects as well as the management of the pension schemes, the tax deduction at source, payroll, claims processing and other activities of the finance function.
David Zinger is a Canadian based management consultant whose work is designed to fostering relationships to increase the employee engagement in an organisation. Lets study the Zingler Model of Employee Engagement in detail.
In order to have effective career development attempts by the organizations, designing automated career development systems plays a crucial role as it integrates a series of activities related to individual career planning and organizational career management.
A properly implemented ERP service module provides for the management and activities related to service functions, applicable both for external customer as well as for internal maintenance of plants and equipments.
The financial crisis across the globe have highlighted the behavior that can be described as mismanagement and not keeping in accordance with good corporate governance.
We live in a world where increasing complexity is the order of the day. Change management in these cases becomes critical and not just necessary or essential.
There are many aspiring entrepreneurs who think that they have a great idea and all it needs is some hard work and smart management to realize their ambitions. However, the nuts and bolts of running ones own business are many and this article examines some aspects that can cause the new ventures to fail and suggests some tips for entrepreneurs to follow.
A good Disaster Recovery and Business Continuity plan involves the management at various levels. Lets understand in detail about the content of a good disaster recovery and business continuity plan.
As management knowledge is supported by various theories, the leadership function of management too is authenticated by various theories. All the important theories of Leadership are discussed in detail
ERP combines several traditional management functions into a logical integrated system and facilitate flow of information across these functions.
The expectancy theory was proposed by Victor Vroom of Yale School of Management in 1964. Vroom stresses and focuses on outcomes, and not on needs unlike Maslow and Herzberg.
The project begins when the top management assigns responsibility to the Project Champion. It is important for both the Project Champion as well as the team member to collect and review the primary information.
BPI programs are helpful for the organizations to change their internal business operations to increase the overall efficiency. Lets discuss the management approach to select the business critical processes for proper BPI implementation.
The article discusses in detail the ERP add on products – Supply Chain Managememnt (SCM), Supplier Relationship Management (SRM) and Warehouse Management System (WMS).
Business Process Improvement (BPI) programs are very effective when they are sponsored by the management. It is highly recommended to form an executive improvement team which owns the responsibility of the BPI program.
As the world has moves towards globalization, organisations have had to keep pace with the external environment. Total Quality Management concept has been the most popular tool to build bridge between internal customers as well as external customers.
Decision Support Systems (DSSs) have become an indispensable part of organizational decision making. Right from top management to employees at lower hierarchical levels use some kind of DSS to support daily functioning and decision making. However, the system supports good and quick decision making only if it has a well designed user interface. This article, therefore, sheds light on factors that play a crucial role in designing of a decision support system.
Information systems facilitates automation across various departments. Employee portals for human-resource department undertakes different tasks, like – employee information, timesheet management, appraisal management and employee development, etc.