Theories

Ludwig

Henri (Charles,Henri)

Organise Command Control Coordinate Plan Forecast (Heirarchy)

Max Webber

Clear division of labour separation of personal and organisational assets of owners Hierarchy chain of command record keeping hiring and promotion on merit, not on perosnal relationship regulations

Taylor (Tailoring)

standardization, specialisation, assignment based on ability, training and supervision Workplace Efficiency, only those practices allowed which improves efficiency and productivity

McGregor (2 alphabets)

motivation hygiene theory empathetic and creativity in work

Mayo (Lord Mayo paise dekar)

improving productivity of employees by making better conditions of working personal attention etc.

employees have only physical needs (old thinking) ideal workplace profit max, central Leadership, specilisation, streamlined operations, improve productivity, single person/few persons taking decision. clear managerial structure, division of labour, clear employee roles

Fielder (Feild me Contingent Player)

opposite to Classical Theory (work on relationship btw managers and employees, ppl don't work for money only but also respect, happiness, satisfaction)

quantity all variables to make decisions

learning is encouraged and available to all

direction control guidance ensure that they are working acc to plan and keeping time schedule and achieving aims

Druker

evans, house

Herzberg

Goods, raw materials, for production,sale, use

tangible

direct - raw materials, work in progress, finished goods, merchandise,spare paerts, packing material indirect - maintenance,office supplies, safety equipment, facility supplies,IT supplies, Buffer (Safety Inventory)Stock

for ensuring product availability, controlling costs, meeting customer demanda

Planning,Procurement,Storage,tRacking, distribution of inventory

keeping track of your needs(looking in your shelves) ordering more(place order in case of shortage) avoiding wastage(cancel more orders in case of surplus) meeting customer demand(manage inventory without wasting funds on unsaled items) reducing costs working capital management supplier relationship data driven Decision making

Categorise Goods into A(Valuable), B(Moderate Valuable) & C (least Valuable). acc to their value.Helps in prioritising inventory management (reduces the risk of over and understocking)

You start ordering raw material at the time of order ( you don't procure materials before hand.) saves carrying cost, but requires supply chain. can be risky if supply chain disruption.

to determine the optimal order required that balances demand with inventory costs to minimise holding costs and inventory costs

Holding buffer stock in case of unexpected demand fluctuations or accidentz or supply chain disruptions

Measures how many times companys inventory is sold and replaced over a year Higher Ratio indicates efficient inventory management

First in first out - assumes oldest items are sold first - profits will be more Last in Last out - assumes newest items are sold last - profites will be less choice btw these can impact valuation

Business forcast in advance to prevent over and understocking - predicting the demands of a Product or material

plan what materials to order and when- minimizing costs and product disruptions

process of obtaining goods form supplier

needs identify supplier identify negotiation contract final place order payment SRM (Supplier Relationship Management) Logistics Delivery-Ouality Assurance-legal compliance -tech integration Risk Management - identify and asses potential risks in supply chain -geopolitical, economic,political & developing Contingency Plans to ensure business running

speed, delivery, quality, reliability,,price

company vendor or logistics compnay vendor

decide what will be the responsibility, mode of doing the job, ethics kya honge etc.

Job Rotation - more people keep changing jobs Simplification enrichment enlargement

evaluating the worth of a job

analytical - factor comparison method -(skills required,mental, physical effort, responsibility, working conditions,), point ranking(extension of factor method- each factor divided into levels and then given points) non analytical - ranking(ranking from most difficult to least difficult), grading(jobs dividied into diff grades and pay levels) -higher grade level, higher pay

Hitten

activity concerned with planning, raising, controlling of funds (Goutham & dougal)

promote sales meet Contingency aavil business opportunities allocation of resources efficiency in Utilisation of resources used for planning and coordination and control

Profit Maximization Wealth Maximisation - market value of shares increasing

Decision of long term assets: prospective profitability cut off rate (required rate of return or opportunity cost of capital)

proportion of Equity and debt

Capital Structure

obtain best financial mix or Optimum Capital Infra (When,where, how to acquire firms needs)

Imoact on Shareholder value

optimum Dividend - Payout Ratio(% of dividends to earnings available to shareholders)

liquidity decisions - profitability, liquidity and risk)

may become iliquid

Cost Volume Product Line

In other words, it reveals the point at which you will have sold enough units to cover all of your costs.

Job Morphing

educational skills required,previous experience needed, skills expected

skills needed, responsibilities, working conditions etc.

Theory X is based on the assumptions that employees don't really want to work, lack ambition, only work to collect a paycheck, and need constant supervision. Theory Y is based on the assumptions that employees want to work, want to take responsibility, and do not need much supervision.

Management Inventory

Buffer stock

set od tools for process improvement and reduction of defects by minimising variations in proceS

BPR seeks to help companies radically restructure their organizations by focusing on the ground-up design of their business processes. workers might feel that they do not have the flexibility to work in their own style

5

Span of control

HR

Decision Support System

Management

Product Life cycle management

customer