SUMMARY (29-06-2017)
2)Execution:
by Selva priya.
Why do we study business AND management?
Business is the process of transforming inputs into products and services for
the end user.
Management involves planning, execution, controlling , leading and Organising.
1)Planning:
It is the process of putting the idea to paper and
documenting it .Plan
should be done to minute detail.The resource requirement is also a very
important thing to plan.
Example: the making of Baahubali movie, where the
director has planned the appearance of each character and conveyed the same to
the procurement team, costume designer and so on before implementing it.
2)Execution:
Implementation should be as per plan.There needs to be proper positioning,coordination and syncing across teams.
Note: The best method of learning is observation.
People go from Good to Great by exhibiting
intelligence.
3)Controlling:
It is the process of utilizing resources as per plan
and correcting if there are any deviations.
The product is a failure if there are no buyers
Example of poor execution/controlling:
Gopichand's movie which has no buyers(distributors)
for 4 years.
4)Leading:
It’s the process of distributing, advertising with support systems. Service on a product
is equally important.
For example:
The director of a college can form his
team either by hiring
·
his relatives and make it as a family run business
·
Well qualified resources and have a professionally managed college.
The first case could succeed due to the sense of
belonging or the second case may fail due to sense of non-belonging. Fully family run or a fully
professionally managed is not recommended for a business to succeed. For a
business to flourish, internal environment should be in the director’s control
and aligned to the market.
It should be noted that a business is a entity by
itself different from the business owner.
Difference between Profit oriented and Service Oriented Organisation.
Profit Oriented Organisation:
Their motto is invest less and earn more.
Example: Indian IT industry .The general assumption
was that due to automation ,unskilled, middle to lower ranked employees would
be removed. But it so happened that the higher ranked employees are getting
laid off, the reason being they are getting the high packages. By removing an
employee getting 40 lacs of salary, 5 skilled resources can be hired with a
package of 5 lac each and the company would end up saving 15 lac.
Service Oriented Organization:
They are more focused on Service towards people.
Example: KCR government’s scheme “Akshya Patra”
providing midday meal.
There is bound to uncertainty in management .So
its very important to be careful about the external environment and the
decision making process could be made easier.
Organising:
It’s the systematic process of allotting resources,
structuring and coordinating to achieve the specific goal.
Organisational Chart
Ex- Baahubali movie
Our Homework:
1)2 Videos will be posted by Sir about “What is business
and What is Management”
We need to watch it and discuss in the next session.
2)First assignment:
What: Watch “Making
of Dangal /Sultan/Baahubali”.
Write
up(Handwritten) on “Why the movie has been so successful”
When: 21st
July
Weightage: 3 marks.
by Selva priya.
The P-O-L-C Framework
ReplyDeletePLANNING
Defining Organization Vision & Mission
Setting Goals & Objectives
Strategizing
Plan of Action to Achieve Goals
ORGANIZING
Formulate Organizational Structure
Resource Allocation
Job Design
LEADING
Leadership & Direction
Motivation
Coordination & Communication
CONTROLLING
Process & Standards
Review & Evaluation
Corrective Action
Good comment
DeleteThank you ..Summary is very apt for the introduction :)
ReplyDeleteAll the blog members are to please read following changes made to Selva Priya's Posting.
ReplyDelete1. Post :Remove the example of Gopichand's movie under poor execution.
Why change?:You have got me wrongly. It can be an example of poor Organizing or control; of
Funds. It is not poor execution in total.
2. In Leaing: Remove the example of director hiring relatives for a college. Why put words I have
not said?
Why this change ?I said in the class a business owner employing his relatives for his
business?
3. Remove the sentence: "Fully family run or a fully professionally managed is not recommended
for a business to succeed. For a business to flourish, internal environment should be in the
director’s control and aligned to the market."
Why Change? I said "Neither a full family run business nor a full professionally run business can ensure success. Success is ensured by commitment/involvement of every stake holder and the trust they have on the leader owner/manager. Also in general organizations depending on systems run better than organizations depending on individuals."
4. I didnot understand the word 'Casting Crew"in the Organization chart of Bahubali.
Can Selva explain?
In HR I gave the example of Ms. Valli who took care of all the crew from lowest to highest in the structure.
But overall I should appreciate Selva doing a reasonably a good job in her 1st attempt. Good attempt.
Thank you Sir.
DeleteBy Casting crew, I meant to say all the crew members ( and also other people responsible for logistics,food arrangements,supporting actors,etc) recruited by the casting director, as its the job of HR to look after all the recruitment activities in an organisation.
Thanks for all the suggestions Sir. I will be more careful in the future.
All students to please note that I did not post the video links in blog as they have already been posted in Office 360 group site.
ReplyDeleteHappy Blogging and Learning