Knowledges in Management

Choose your interests from a vast range of topics

CSR

It is about how CSR is beneficial for both the company and the rural people

7 Learning Curves

7 Learning Curves

Dove Selling Stratergy

This presesntation talks about the selling stratergy of Dove.

Analytics for Intelligent Leadership decision

We live in an era where nothing is constant, where change is bound to happen, where we see disruptions killing businesses, everyday something new is invented or developed. In such a dynamic environment conventional management will no longer work and there is a need for reinventing management. In order to adapt to the changing customer needs, companies have to engage more deeply with people in their everyday work and lives through IT trends like artificial intelligence, internet of things and big data analytics. If you ask me what will happen if organizations don’t reinvent management, my answer will be in two words “they’ll die!” If you’re not able to reinvent the management style probably you will not be able to reinvent the organization. The fall of Kodak is an example where management failed in spite of technical expertise because the management didn’t understand the changing business environment and because of the old style of leadership. Now the big question is how technology can be used for intelligent leadership decisions. Decision making always includes data as data-driven decisions perform significantly better but the barrier to such decision making is the lack of proper knowledge of analytics. Data alone is trivial and it is only when combined with the expertise and knowledge that data can enhance a manager’s capability to make the right decisions. Current generation managers equally need to know and understand analytics, combining it with their knowledge of the business. The Moneyball film truly demonstrates the use of analytics by baseball manager Billy Beane to identify undervalued players. Pattern Analytics, which is a discipline of Big Data enables business leaders to understand how different variables of the business interact, their links with one another and helps them uncover patterns. Such patterns can indicate opportunities for innovation, expansion, and growth or threats of disruption for the business and help take corrective measures. Role of analytics is not limited to one activity rather companies can leverage analytics to improve decision making over a wide range of activities from customer segmentation, pricing, identifying new markets, effectively managing supply chains, detecting fraud channels, and creating efficiencies to improve operational effectiveness. Spain leading household cleaning company KH Lloreda used business intelligence in form of a dashboard initiative that helped management team to quickly understand information from all the areas of the company and a unified view of the company’s financial health. KH Lloreda implemented analytics capabilities very effectively and eliminated manual steps needed for end-period closing resulting in faster decision making by board members and management. Analytics can help business leaders in making business strategies and functional strategy by getting insights from huge data generated by millions of past transactions. Leaders can identify product lines with more profit and acceptance by end customers, product lines that hurt overall profitability of the organization, and the data-driven insights can also enable the management in identifying weak supply chains and managing them effectively to reduce inefficiencies. Analytics is even used by management to analyse stakeholder conversations drawn from social media in its business. Big data analytics company Germin8 product Explic8 allows companies to analyse, predict and take the right decisions at right time. Globalization has opened doors for business growth opportunities and has created so many suppliers, manufacturing units, logistics providers which resulted in complex supply chains that are not easy to monitor. Increase in product variance by globally dispersed customers, volatility in demand, and increase in cost fluctuations add to the problems of leaders from the supply chain industry. Analytical tools are now helping leaders across the organizations to tackle issues related to supply chain by providing valuable insights like true cost of raw materials rather than just price, supplier performance, potential supplier risk, potential fluctuations in demand etc. This way, supply chain analytics is helping leaders to make intelligent decisions and enhance the performance of supply chains by improving demand foresight, reducing cost fluctuations, supplier risk, and managing volatility. FedEx has collaborated with SAS to prepare its employees to arrive at effective decisions. UPS uses predictive analytics in form of a project which they call “Package Flow Technologies” to reduce the cost of daily operations by tracking the movement of every package making large improvements in fuel savings. Role of analytics in entertainment and media industry like for video publishers, media owners, gaming companies, TV channels is way more important considering they have to create content which is suitable and customised for the end users or the customers. Investment decisions in media and entertainment industry are based on viewers’ habit, viewers’ ratings, number of views, geographic, and many other factors. Companies have to analyse all such factors before investing or launching any TV show. Analytics can help business leaders to answer such questions as it will provide insights likes viewing and consumption pattern, sales trends, territorial analysis, and even content pricing. The best example of such a company is Netflix whose management has built tremendous analytical capabilities to analyse millions of episodes a day, searches by their subscribers, content preference by the users as well as the time of the day when shows are watched and on what devices. Netflix leaders use insights from the analytics to refine their offerings and create content that is based on audience interest. It is said that bidding for blockbuster series House of Cards by Netflix was based on the insight that political fiction dramas were in highly trending patterns and because of the analytical capabilities, Netflix outbid its competitors like HBO to own the right of the show House of Cards. The role of artificial intelligence or data analytics in people management or decisions involving employees will be even more demanding and challenging. HR leaders can address questions like what can make their employees motivated, which department is not happy with HR policies, what can be possible conflicts, what performance issues they may face, how can they improve employee productivity etc. Analytics though can’t help in removing all uncertainties but definitely can empower business leaders in making intelligent decisions which are less risky. Insights from analytics applied to the vast data that HR deals with can help management in fields like talent assessment, employee engagement, and team productivity. HR leaders have to identify the areas in their domain where they can implement the analytics and increase the efficiency. For e.g. Ideal is offering artificial intelligence tools and chatbot technology to automate time-consuming tasks such as resume screening, candidate sourcing etc. It is the HR leader’s responsibility to implement such analytical tools in their verticals so that their recruiting managers perform better and efficient. Finally, I will conclude with the statement that we need leaders who can grasp the opportunities and can balance the cost and advantages of analytics and how human intelligence can best use artificial intelligence in solving business and customer problems.

Process n Technology

Process n Technology

supply chain network design

supply chain network design

Project management for digital transformation

I remember the phrase “you are born once but live you live every day” which can be extended to digital transformation “You implement it once but it will help you always”. Digital transformation is a big journey for any organization as it has the calibre to change the fundamental way of working of an organization. It can help an organization better serve the needs of the clients or customers, understand their employees and to transform the organization into a more efficient and successful one. Take the example of insurance group BUPA who transformed its business strategies focusing more on digital marketing and focusing on highly personalized acquisition and retention of customers. If you ask any executive what is the first priority of their business? They would immediately say serving the needs and improving the overall experience of their clients. But why? Because every organization has to deliver beyond customer expectations to be sustainable in the dynamic environment and to save itself from being killed by the disruptive innovations. Every new change in an organization go through certain well-defined processes and same is the case with digital projects and better the organization is at handling those activities or processes, better would be the end results the organization is seeking for. Digital transformations projects are more challenging than conventional projects making project management capabilities more important. Project management is nothing but managing the organization resources like skills, tools, techniques effectively to meet the project requirements in the allocated budget and meeting all the constraints. It brings discipline, standardised approaches, and offers a highly effective structure to identify potential risks, issues in advance and thereby achieving higher performance and increasing the chances of success. Organizations must be able to continue delivering the value and experiences customers demand and expect while implementing new digital initiatives. Leveraging digital technologies is more than just good business—it’s crucial to staying relevant and profitable. But to achieve any of the above results companies has to build capabilities in project management as it helps companies to respond quickly to changing market conditions and controlling the digital spending in collaboration with the project stakeholders. It also helps companies in identifying potential issues well in advance and thereby reducing the project waste. Digital transformation involves a fundamental rethinking and restructuring of IT function in an organization. It considers technology not as a back-office support role but as a key differentiator in how business should compete. Any organization willing to undertake digital transformation has to re-evaluate how they work and how digital can help reshape the existing business and for this all the goals of the organization have to be aligned with digital strategy and alignment of business units, avoiding any possible integration difficulties within the organization can be effectively handled with project management techniques. Airbnb in the tourist market is the best example of leveraging project management while going Digital. I believe Airbnb success is attributed to four major factors process, flexibility, clear communication, Feedback (Listening to communication). Project management capabilities include all of these and thus companies can leverage their project management skills in ensuring that they work on digital projects with clear vision, modular teams,  well-defined metrics to measure the goals, and scraping the project when necessary i.e. flexibility. Digital transformations projects are high budget projects which organizations have to successfully complete. Every digital transformation project involves a greater risk in comparison to other core projects because of uncertainty, lack of digital skills, and lack of support from investors. Companies can leverage project management capabilities in examining the risk-reward of each such project to evaluate the best way to invest the company capital and human skills. Good project management capabilities can help companies to stop investing money in digital projects that may fail in future, thus ensuring that company available resources are used in the best efficient way. Project Management centrally involves around customer values and user-centred design thus ensuring that any transformation is it our business or client business should ensure customer satisfaction and delight. Project management, when applied to digital transformation can help the organizations in prioritizing the most-important requirements as per the customer needs.  Agile a method of project management is characterised by the division of work into small phases of cycles so that frequent assessment of the plans can be done by the management. Companies can leverage agility to digital transformation and enjoy benefits like flexibility, continuous improvement, and cost control, reduction in risks, increased communication and engagement with clients and within the organization, increased transparency, and high quality of the end software or services. In essence, the agile approach to digital transformation can help companies in accelerating the speed of digital transformation while keeping core business functions working smoothly. Microsoft Azure offered by Microsoft is a cloud-based project management platform providing companies multiple services such as software as a service (SaaS), platform as a service (PaaS) and Infrastructure as a service (IaaS), tools, and frameworks. For e.g. Bentley Systems implemented Azure-based services extending their already existing ProjectWise edition for enhancing the deliveries of project Practice self-disruption: companies need to practice self-disruption enabling every employee to think beyond traditional approaches of doing businesses. Companies having good project management capabilities has the edge over competitors in practising self-disruption and can leverage it. The best example is Alphabet, It has divided itself into sub-bets such as Google, X lab, Nest etc. because of their unique capabilities in project and product management. Companies can leverage project management capabilities in protecting its core businesses by Finally, the digital transformation within an organization includes three pillars which are the strategy, Information technology, and Business. Companies should leverage the project management skills to transform all the three pillars and ensuring that information technology, the core business and the strategy of the company are all well aligned keeping the dynamics of industry and customer expectations in mind.

Master Black Belt certification with Training

What is Master Black Belt? Six Sigma Master Black Belt (MBB) plays a critical role in guiding the enterprise-wide deployment of strategic initiatives in product / process design and process improvement. Six Sigma MBBs interface with top management to align the internal improvement initiatives to the strategic directions of the organization. Six Sigma MBB certificate is evidence of successful demonstration of the necessary skills and knowledge required to be effective in the role of MBB. We have set benchmark in providing Six Sigma (Green, Black & Master Black) & Lean Management Training, by providing FREE Re Training, FREE Job Support, FREE Project review, approval, FREE grooming session, FREE Interview preparation, FREE Resume Building. How its Beneficial for you •  Six sigma is only a common course for today's industry that can be applied at any position or any company. •  As an individual, you would be able to improve your skill-set and problem solving approach. •  In today's world everyone wants to save cost, increase Revenue and increase customer satisfaction with best quality. Here's why we recommend our Six Sigma training •   High package of annual salary for Black  Belt professionals •  Improved profitability and productivity at business. •  Quality deliverable and happy customers. •  Reduction in costs and variations in processes. •  Better career opportunities in the global market. Flexibility •  2 hrs, 4 hrs, 8 hrs, few days in a week, complete week, only Sunday, only Saturday etc. •  We provide in-house training facility without any extra charge (within Bangalore no charges)NIQC will also provide training & consulting support for other location (Anywhere across the Globe*)    Cost, benefits & durationCharges are only 49,000/- for 1 participant for entire package. This will include •  Six Sigma Green ,Black Belt Handbook, lean Manager Soft Copy •  Minitab Guide Handbook + Soft copy •  4 Certificates of Certified Six Sigma Green Belt, Certified Six Sigma Black Belt, Certified Lean Manager. and ISO 9001:2015 •  Training on Green Belt & Black Belt with evaluation & certification •  Free Lean management training and Certification •  Soft-copy of 40 different case study •  Soft-copy of 12 different projects •  Minitab for practice •  Data for Project Free. •  Software minitab Install in system for training use •  Leadership, people management training and soft-skills training will be given free of cost

Leading Change - Notes

Basic goal: To make fundamental changes in how business is conducted in order to cope up with a new, more challenging market environment Lessons from successful cases of change: 1)      Change process goes through a series of phases that require considerable amount of time 2)      Critical mistakes in any phase can have devastating impact 8-step framework: 1)      Establish a sense of urgency Companies that successfully lead change identify important indicators and find ways to communicate the same broadly and dramatically. This is important as getting a transformation process started requires aggressive cooperation of many individuals. Major reasons for failure: a.       Overestimate success of implementation b.      Lack of patience c.       Worry that senior employees will get defensive and there will be a morale loss Leaders need to be change champions. Some leaders manufacture bad results to drive change as playing it safe is itself too risky. Acceptable rate is 75% of company’s management convinced about the need for change. 2)      Forming a powerful guiding coalition Major successful changes are those where the leadership coalition grows over time and includes most of the top management. A successful guiding team may consist of only 3-5 people during the first year but for big companies, it can grow to 20-50 range before further progress can be achieved. The guiding coalition includes members not only from senior management, also key customers, board members and union members. This is outside the normal hierarchy. They need to first develop a minimum level of trust and commitment. Off-site retreats help. A change without a powerful coalition might end up in failure. 3)      Creating a vision A vision helps clarify the direction in which an organization needs to move. It is a clear and compelling statement as to where all the change is leading to. It is drafted and fine-tuned over a span of several months by the coalition and is accompanied by a strategy for achieving that vision. If you can’t communicate the vision in 5 mins or less that is understandable, the vision isn’t clear. 4)      Communicating the vision Without credible communication, the vision does not get ingrained into the employees. In successful transformations, executives use all communication channels to broadcast their vision. Communication comes in both words and deeds and the latter is the most powerful. Hence, leaders focus on “walking the talk” and attempt to become a living symbol of the new corporate culture. 5)      Empowering others to act on the vision Apart from successful communication, removal of barriers is key. Obstacles can be: ·         Organization structure o   Clash of vision with appraisal system o   Bosses who refuse to change §  Lower level managers concluded that senior management lied to them about their commitment 6)      Planning for and creating short term wins In successful transformations, managers actively look for ways to obtain clear performance improvements, establish yearly goals, achieve the objectives and reward the people involved with recognition, promotions and even more money. When it becomes clear that major change will take a long time, urgency levels can drop and commitments to produce short term wins help keep the urgency levels intact. 7)      Consolidating improvements and producing still more change First clear performance improvement cannot be treated as victory in change management. Better to quantify the amount of change that occurred each year. 8)      Institutionalizing new approaches Change must be embodied into the culture of the organization. Until they are rooted, new behaviors are subject to degradation after the pressure for change is removed. Two factors are important for institutionalizing change: ·         Conscious effort to be made to show how change has improved performance o   Helping people see the right connections ·         Taking sufficient time to make sure that next generation of top management personifies the new approach o   Good succession decisions o   Successor must be a change champion as well