1. Division of work: A high degree of specialization should result inefficiency. Both managerial and technical works are amenable to specialization.

2. Authority and responsibility: Henry Fayol finds authority and responsibility to be related, with [...]]]>

Henry Fayol, a French industrialist, summarized the practice of management with fourteen principles.

1. Division of work: A high degree of specialization should result inefficiency. Both managerial and technical works are amenable to specialization.

2. Authority and responsibility: Henry Fayol finds authority and responsibility to be related, with the latter arising from the former. Authority is needed to carry out managerial responsibilities.

3. Discipline: People in the organization must respect the rules that govern the organization.

4. Unity of command: This means that, employees should receive orders from one superior and should report to one only.

5. Unity of directions: According to this principle, each group of activities with the some objective must have one head and one plan.

6. Subordination of individual to general interest: Interest of individuals should not be placed before the goals of the overall organization.

7. Remuneration: Remuneration and methods of payment should be f air and afford the maximum possible satisfaction to employees and employer.

8. Centralization: Power’ and authority should be concentrated at the upper levels of the organization as much as possible.

9. Scalar chain: A chain of authority should extend from the top to the bottom of the organization and should be followed at all times.

10. Order: Human and material resources should be coordinated so that they are in the required place at the required time.

11. Equity: Managers should be kind and fair when dealing with subordinates.

12. Stability of tenure: Finding unnecessary turnover to be both the cause and the effect of bad management. Fayol points out its dangers and cost.

13. Initiative: Subordinates should have the freedom to take initiative,

14. Unity is strength: Teamwork, team spirit and a sense of unity and togetherness should be fostered and maintained.

A-    Always put top priority on strategic moves

Strategy means where we are , where we want to go, by what time and how will we do it.

. The strategic adversary is fascism… the fascism in us all, in our heads and [...]]]>

ABC of Business Strategy

A-    Always put top priority on strategic moves

Strategy means where we are , where we want to go, by what time and how will we do it.

. The strategic adversary is fascism… the fascism in us all, in our heads and in our everyday behavior, the fascism that causes us to love power, to desire the very thing that dominates and exploits us. Every move we make affects us as well as the competitor thereby affecting the entire business environment

B-    Be prompt to adapt to market conditions

The CEO of HP once passed a statement which meant that the biggest mistake one does is doing the same thing what one did a year ago. The business environment is very dynamic. What was applicable yesterday may not be applicable today and what is applicable today may not be applicable tomorrow

C-    Consider that attacking competitor’s weakness is better that attacking competitor’s strength

The runner up firms often think of winning the battle of market share by imitating or attacking competitor’s strength. It’s a mistake. Competitor’r weakness is your strength. What a competitor fails to do is a niche pre-created

D-    Don’t underestimate the reactions of rivals

Success is difficult but sustaining success is more difficult. The rival too waits for you to make a mistake. Observe a pattern in rival’s movements. If possible, look at the situation objectively. i.e. if X & Y are your rivals, how do they do business with one another

E-     Ensure the strategy works in best of the circumstances

Test new strategy when everything appears to be going well. Experiment in best phase so that you know it will work when required or not. Experiment and keep it aside for future contingencies. This is because when you and your products are leading the market anything you do becomes a fashion. Its assumed to be a benchmark by rivals. You can also mislead them if required

F-     Fair cutting in prices establishes cost advantage

Over the last two years, we have often talked about increase in purchasing power of consumers. However, inflation and GDP growth rate in India are almost similar. Considering global scenario, this figure matches the unemployment in USA. If cost wasn’t that important than why is it that every recruiter wants the best talent at the lowest cost possible?

G-    Go for bold steps of differentiation

Does your product/service have a distinct identity? Is it unique? How easily it can be copied? Is the differentiation adding too much cost. E.g. Ferrari gives a mileage of only 5kmpl but it’s a differentiated product for a distinct class. Thus, differentiation matters considering what the buyer needs and who is buying it

H-    Ho-Hum strategy to be avoided

Ho-Hum stands for mental weariness. For instance, you are a market leader. A new entrant hits the market and is appreciated for its cost cutting and differentiation. E.g. Micromax came with a Rs. 2000 mobile phone specially for fishermen being waterproof, the so called market leaders lost their share as they reacted too late to their competitor’s initiative

I-       Invest for sustainable competitive advantage

When competitive advantage gets copied its no longer a competitive advantage. Hence keep innovating, invest aggressively in R&D in order to sustain your success. Also, if you have  innovative products ready, release them at regular intervals as this will build a reputation of yours in the market that you innovate regularly. Also, this reduces the threat of rival copying what you have done.

Management is an art of getting the things done from the people

Leadership is an act of influencing people to strive towards common goals

The difference is We, the people.

What are Management Graduates? Manager or Leader

Manager

Nirma detergent powder launched in the mid- Seventies at one-third the price of its competitor HLL’s Surf. It proved to be hugely successful. To counter Nirma, HLL brought in its own low-priced detergent powder called Wheel, which also emerged successful. Launching such low priced variants might mean diluting a premium brand’s [...]]]>

Brands are made up of four layers – the core product or service, the basic brand, the augmented brand and the potential brand.

The core Product / Service

At the most basic level, customers buy products to meet certain functional needs. However, most products and services cannot survive [...]]]>

Brands are made up of four layers – the core product or service, the basic brand, the augmented brand and the potential brand.

The core Product / Service

At the most basic level, customers buy products to meet certain functional needs. However, most products and services cannot survive on functionality alone as this is usually matched in time. The most common barrier to competition is building a brand.

The Basic Brand

The basic brand consists of the “name, term, sign, symbol, or design, or a combination of them, intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competitors”. Essentially, this should support the offering’s performance and differentiate the brand from those of competitors.

The Augmented Brand

Successful companies seek a competitive edge through the enlargement of the core product or service, with supplementary products and services (e.g. information, quick delivery) that enhance the customer’s total purchasing and use experience. These products and services add value and make the offering much more difficult for competitors to emulate.

The Potential Brand

A brand achieves its potential when added values are so great that customers will not willingly accept substitutes, even when the alternatives are substantially cheaper or more readily available (e.g. Coca-Cola, Kodak, Levi’s).

Organizer: H. K. Institute of Management Studies and Research,                                                                                               (under the aegis of Maharashtra Educational Society)

Location: H. K. Campus, Oshiwara, Jogeshwari (west), Mumbai.

Dates: October 21-23, 2011.

H K Institute of Management Studies & Research, a progressive management institution [...]]]>

Event Type: Inter-Collegiate Management Conclave & Cultural Festival.

Organizer: H. K. Institute of Management Studies and Research,                                                                                               (under the aegis of Maharashtra Educational Society)

Location: H. K. Campus, Oshiwara, Jogeshwari (west), Mumbai.

Dates: October 21-23, 2011.

H K Institute of Management Studies & Research, a progressive management institution located in the heart of Oshiwara (in proximity to Andheri) is organising the third edition of annual management conclave and cultural festival, ETHOS 2011 from 21st till 23rd October 2011, where a series of exciting management contests and simulated games like Financial Samurai (Mock Stock), Stakes and Ladders(360 Degree Quiz), Plan-O-Rama(Business Plan),HojayeGooglee (Ad Mad Show), Word War ’11 (Management Debate), SALE KeLiyeKuchBhiKarega(Sell to Win), Extempore (impromptu speech)etc. will be conducted by the students of the institute.

Ethos 2011 is not just a management conclave but a platform and medium of intellectual expression an opportunity for the students to showcase their talents.The participants from the various colleges under Mumbai University in the vicinity of Mumbai and peripherals will converge for this three day management festival, with every evening brightened by cultural shows, including skits, group dances, musical spoof, and fashion shows etc.

The strategy behind the programme architecture is simple, to bridge the ‘Knowing-Doing Gap,’ and raise the Employability Quotient of the Next Gen leaders. ethos 2011 encompasses social mission in tandem with the Corporate Social Responsibility initiatives at HKIMSR. Two MISSION POSSIBLES are our avante garde’:

1. 1. RAW Talent Hunt: Theme behind ethos 2011 is Koi Bhi Dimaag Chota Nahi Hota – and is an initiative to encourage the students from lesser known colleges (mostly belonging to the Bottom of the Pyramid) to participate in the mainstream competition and showcase their rare talents -  a raw approach indeed

1. 2. New code M.B.A. (Main Bhi Anna): Ethics and human values are the indomitable qualities that today’s MBAs have to demonstrate to survive in the corporate world. The cultural utsaav would partly integrate the learning from mass movement against corruption and may pave the way forward – kudos to our M.B.A.s

The conclave will experience the convergence of students, parents, media people, and professionals from the industry. The conclave will have regular footfall of over 3,000 plus students and visitors from various industries. The institute believes in providing quality management education to the budding professionals and executive education to managers, business leaders and entrepreneurs. We are proud to have continuous association, involvement and partnership with several industrial organizations.

The event has been supported by corporate like Pepsi, HUL, India Excursions, ManagementFunda.com, Honda, Esselworld, Blue Waters, Titan, The Loot, Hypercity, LIVE India News and many others.

Let us join together to celebrate the enigma on the HK Campus…

The Schedule for the Event is as Follows -

Biological and Physiological needs

Food, Clothing, Shelter, Sex, Sleep, Air, Food. These are the basic requirements as we say ‘ Roti, Kapda aur Makaan’. Any person will first fulfill these needs before trying to meet any other needs.

Safety needs

Safety is not an intellectual exercise to [...]]]>

Biological and Physiological needs

Food, Clothing, Shelter, Sex, Sleep, Air, Food. These are the basic requirements as we say ‘ Roti, Kapda aur Makaan’. Any person will first fulfill these needs before trying to meet any other needs.

Safety needs

Safety is not an intellectual exercise to keep us in work. It is a matter of life and death. It is the sum of our contributions to safety management that determines whether the people we work with live or die. Here the needs are protection from elements, security, order, law, limits, stability, etc.

Belongingness and Love Needs

The feeling of not belonging, of not being entirely worthy, of being sometimes hostage to your own sensibilities kills like slow poison. ‘Pyar do, Pyar lo’ is what people like and so do employees. Here belongingness is belongingness to work group, family, relationships, etc

Esteem Needs

Every new adjustment is a crisis in self-esteem. Still people crave for it. Its being proud about what you do irrespective of the results expected. Its ‘Garv’

Self Actualization Needs

Its realising personal potential, self-fulfillment, seeking personal growth and peak experiences. As its rightly said ‘ Kamyaab mat bano, Kaabil bano’. However, the higher you go, the lesser is the oxygen as with great power comes great responsibilities

At the descriptive level, certainly, you would expect different cultures to develop different sorts of ethics and obviously they have; that doesn’t mean that you can’t think of overarching ethical principles you would want people to follow in all kinds of places.

-      Deception and Fraud

Exaggerating product price, performance claims or even product [...]]]>

At the descriptive level, certainly, you would expect different cultures to develop different sorts of ethics and obviously they have; that doesn’t mean that you can’t think of overarching ethical principles you would want people to follow in all kinds of places.

-      Deception and Fraud

Exaggerating product price, performance claims or even product size are some of the fraudulent practices followed in real life situations. E.g. You were told by a restaurant owner that with X coupons the next time you visit, you will be given 20% discount but that doesn’t happen

-      Unfairness: Some direct marketers take the advantage of impulsive or less sophisticated buyers or prey on the vulnerable. E.g. A shopping Mall selling a T-shirt for Rs. 250 stating that its relatively cheaper in organized market but you find the same in a local shop for Rs. 200

-      Irritation: How does one feel when one keeps getting unwanted sms and emails about different products and services offered? Too many cook spoils the broth. The marketers sometimes don’t bother to consider customer’s request to stop the nuisance they are creating for them

-      Invasion of privacy: Privacy is no longer a private word. E.g. X gets calls to apply for a credit card based on his income, he wonders who discloses his details. Sometimes a consumer feels that the seller is taking undue advantage of his personal details