Published on March 14, 2014
Presented by: Agedious Savio Mondal Alok Amit Ankit Panda Anushree Mazumdar Bharat Prasad Arif Ali
Topics To Be Presented - Step1: SWOT analysis Step-2 Problems and their magnitude Step-3 Present limitations and constraints, if any Step-4 Desired objectives short term, usually Quantitative, specific targets Step-5 How to reach these objectives, solve Identified problems and within known limitations? Step-6 Process of decision making by using a Cost-benefit analytical (CBA) technique weigh alternative (s)
Top Level management and their responsibilities Top level management consist of Managing Director,Board of directors, president. Responsibilities : Making decisions affecting the entirety of the firm. Setting goals for the organization and direct the company to achieve them. Responsible for the performance of the organization.
Problems faced by the top level management Managerial problem can be described as the gap between a given current state of affairs and a future desired state. The various problems and their magnitude in the top level management : Communication Gap Originality and viability of information Low labour productivity
Internal aid to solve problems Problem solving framework: Problem solving may then be thought of as the process of analyzing the situation and developing a solution to bridge the gap. While it is widely recognized that different diagnostic techniques are appropriate in different situations.
Problem solving framework:
Problem solving framework Problem identification: a solid approach to problem solving begins with a solid approach to problem identification. One of the most useful techniques is statistical process control (SPC) Statistical Process Control : A well formulated SPC program serves to inform managers when their operational processes are performing as expected and when something unexpected is introducing variation in process outputs.
Problem solving framework : Problem verification: the need for verification is especially important when a manager is asked to step in and solve a problem that has been identified by someone else. This can be done by the following technique: Forces at Work: • review the external pressures on the client arising from suppliers, customers, competitors, technology shifts, and substitute products. • document the direction and magnitude of any changes in the various pressures on the firm. • review any internal changes, such as shifts in labor relations or changes in production technology. • Finally, look at how the various factors are impacting the way the distributers, sells, and services of the products.
Problem solving framework Problem definition: The next step in problem solving is to formally define the problem to be addressed. Complex problems may be broken down and can be assigned seperately recognize the scope of the problem which will drive the resource requirements of the problem solvers. Establish the time frame.
Problem solving framework Root cause of the analysis: the next step is for the problem solvers is to identify the causes of the problem. The root cause is defined as that condition or event that, if corrected or eliminated, would prevent the problem from occurring Alternative generation: Once the root causes of the problem have been identified, the problem solver can concentrate on developing approaches to prevent, eliminate, or control them
Problem solving framework Evaluation of the alternatives : evaluation of the effectiveness of alternative solutions should be relatively straightforward. This can be done by : Measuring the end result Consider the resources required Political consideration within the organisation Benefits and cost related to each alternative.
Problem solving framework Implementation: Regardless of how good the plan is, it is useless unless it is implemented. Therefore, once a specific course of action has been approved, it should continue to receive the necessary attention and support to achieve success. The work should be broken down into tasks that can be assigned and managed. Specific mile-stones with target dates for completion should be established.
Problem solving framework Control : After implementing you need to check whether the implemented alternative is working in the desired way or not if any deviation further steps should be taken to control it. There are various other internal aid which assists a top level manager in decision making and utilise to solve various prevailing problems : A management information system (MIS) extracts data from a database to compile reports, such as sales analyses, needed for making routine decisions. A decision support system (DSS) is an interactive system that collects and integrates data from multiple sources to assist in making non routine decisions. To develop plans and make major decisions, managers may gather relevant, timely, easily understood information through an executive information system (EIS); an EIS provides ready access to strategic information that’s customized to their needs and presented in a convenient format. An expert system (ES) mimics expert judgment by following sets of rules that experts would follow;
: External aid to solve problems Change agents/management consultants : A person whose presence or thought processes cause a change from the traditional way of handling or thinking about a problem. Management consultants help an organisation to improve their performance, primarily through the analysis of existing organisational problems and development of plans for improvement.
Suggested solutions Increased Use Of Teams : A team is a group of individuals with complementary skills who work together to achieve a common goal. Additionally, teams tend to be more successful when tasks require speed, innovation, integration of functions, and a complex and rapidly changing environment Outsourcing: Outsourcing occurs when an organization contracts with another company to perform work that it previously performed itself. Outsourcing is intended to reduce costs and promote efficiency.
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