MASEEI - PPT's

Amity Business School
MBA & Specialized MBA Class of 2020,

Management in Action- Social, Economic and Ethical Issues
MGMT705
By Dr. L.K.Dhillon
Course Objectives
The broad objectives of this course are to
▪ Bring students closer to reality by developing their understanding

of the professional prerequisites to practice of management in
terms of required skills and attitude to respond proactively to rapid
discontinuous change in business environment.
▪ Develop students the attributes of a consultant.
▪ Develop not theoreticians but practitioners who are expected to

sense the ongoing conflict between environmental change and
internal desire of management for stability.
Student Learning Outcomes
On completion of this course
▪ Students will be able to Examine political, economic, geographic and

cultural sources that shape a global competitive context
▪ Provide deep understanding and working knowledge of managing a

consulting firm be able to develop a systematic / structured approach to
diagnose management problems.
▪ Develop critical thinking skills through reading and case studies to

apply social responsibility concepts and ethical principles to current
business scenario
Module I Introduction
Weightage 15% (Total Sessions 07)
➢ Introduction to the course, books texts and reference material. Introduction to

PSDA Assignment and assessment of PSDA [1session]
➢ Modern Management Practices and Issues Involved [2 sessions]
➢ Outsourcing Management Services [1 session]
➢ Evolution of Management Consultancy, [1 session]
➢ Skills-set required for Management Consultants [1 session]
➢ Consulting and performance counselling [1 session]
Module II The Process of Management Consulting

➢ Consulting Proposals [1session]

➢ Identification and Definition of Problem [1session]
➢ Fact-Finding Leading to Solution Development and Implementation [1session]
➢ Developing Strategic and Tactical Plans and Subcontracting [1session]
➢ Pricing of Consultancy [1session]
➢ Acquiring and Developing Talents for Consulting [1session]
➢ Discussion on PSDA assessment [1session]
Module III In-house Management versus Management Outsourced

➢ Why a Sense of Skepticism and Unease Towards Management Consultants [2

Sessions]
➢ Cost versus Value of Advice [1 Session]
➢ Separating Consulting Success from Consulting Disaster [1 session]
➢ Some Revealing Situations [1 Session]
➢ Mid Term Assessment [2 Sessions]
Module IV Cross Cultural Management Systems and Processes

➢ Types of organizational culture [1session]

➢ Strength of organizational culture[1session]
➢ Function of organizational culture[1session]
➢ Importance of culture to the organization [1session]
➢ Cultural Models, Cross- Cultural Perspectives [1session]
➢ Geert Hofstede and Cross- Cultural Issues [1session]
➢ Case Study Discussion [1session]
Module V Economic and Social Issues in Management

➢ Adaptation to Changing Environment in General and Economic Environment

in Particular, [1session]
➢ Economic Growth and Change Areas, [1session]
➢ Emerging Opportunities in Various Sectors including Social Sector, [1session]
➢ Management Practice and Cultural Issues, [1session]
➢ The global Political Situation, [1session]
➢ The Global Competitive Environment and the internal scene in India,
[1session]
➢ War Game. [1session]
➢ Review of PSDA [1session]
Module VI Ethical Issues in Management

➢ Relationship among Various Stakeholders, , [1session]

➢ Reasons for Conflict of Interests Among Stakeholders, , [1session]
➢ Corporate Governance and Ethics. , [1session]
➢ Why Unethical Decisions Leading to Conflicts are Taken, , [1session]
➢ Power and Politics, , [1session]
➢ Initiatives on Corporate Governance by the Governments. , [1session]
Module I
Introduction
What is Modern Management?

It Refers to emphasizing the use of
systematic mathematical techniques
in the system for analyzing and
understanding the inter-relationship
of management and the workers in all
aspect
Modern Management Theory
Streams of Modern Management
System Contingency
Quantitative Approach
Approach
Approach
Quantitative Approach
Andrew S, Johan MacDonald and George R Terry are the main
contributors of this approach
Quantitative approach focuses on the

use of statistical model and systematic
mathematical techniques to solve
complex problems. Management can
easily calculate the Risk and the
Benefit associated with various actions
System Approach
Herbert A. Simon is the father of this Theory

A system is defined as a set of regularly
interacting or inter dependent components that
creates a whole unit
Robert L.Khan, Daniel Katz and Richard A. Johnson are

the major contributors to this theory
System Approach cont…..

Characteristics
➢ A system must have some specific
components, units or sub units
➢ A change in one system affects the
other subsystem
➢ Every system is influenced by
super system
➢ All systems along with their
subsystem must have some
common objectives
➢ As system is goal oriented and
cannot survive in isolation
Contingency Approach
This approach take into
consideration the complexities
and dynamics of the
organization structure.
According to this theory there
is no one universally
applicable set of rules for
managing an Organization.
G.M.Stalker, Joan Woodward, Tom Burns and Paul Lawrence are

the major contributors to this theory
Issues and Challenges in Modern Management

➢ Accelerated pace of change
➢ Increased globalization of operations
➢ Variability of technology (especially information technology)
➢ A diverse workforce
➢ Transition from industrial to social knowledge
➢ Fluctuations of the market and the economic conditions
➢ Building a competitive advantage
➢ Maintaining ethical standards
➢ Quality and innovation become managerial imperatives
➢ Complex managerial environment
Outsourcing Management Services

Outsourcing is a business practice in
which a company hires another company
or an individual to perform tasks, handle
operations or provide services that are
either usually executed or had previously
been done by the company's own
employees.
In simple outsourcing is a business
practice in which services or job functions
are farmed out to a third party
Outsourcing was first recognized as a
business strategy in 1989 and became an
integral part of international business
economics in the 1990s
A research from IBM revealed that…….
“only 27% of companies outsource to cut costs,

whereas 36% are innovators and 37% are growth-
seekers, using outsourcing as one of their tools to
optimize their businesses”.
The most commonly outsourced

activities
➢ Information technology (IT)
➢ Content development
➢ Recruitment
➢ Legal services
➢ Web design, development &
maintenance
➢ Logistics
➢ Customer services, customer
support, technical support
➢ Manufacturing
Outsourcing could be…..
❑ Project-Based Outsourcing
❑ Information Technology Based
❑ The Professional Level
❑ Manufacturing
Is Outsourcing a Good Business Strategy?

Outsourcing becomes part of Business Strategy if it is:-
▪ Reducing the operating costs in
expensive areas
▪ Gaining new skills that is too
costly to hire in-house
▪ Freeing up the internal
resources to work on critical
business functions
▪ Increasing the efficiency in
time-consuming areas like web
development and design
Management Consultancy
Management consulting, also referred
to as business consulting, is defined
as “advisory and/or implementation
services to the (senior) management
of organisations with the aim of
improving the effectiveness of their
business strategy, organisational
performance and operational
processes”
Management consulting tends to
mean business advice based on
quantifiable methodologies and
research
Management consultants are hired by decision makers for advise on
strategy and organisational matters.
They can be asked to develop a new strategic plan
➢ for realise more growth, or
➢ commissioned to advise on innovation or cost reduction strategies.
➢ Implementing the proposed solutions also belongs to their tasks.
In practice the execution side of consulting forms the largest market for
management consultants.
Management consultant Assignments can vary from improving the
efficiency of business processes to implementation of new IT systems,
outsourcing of non-core tasks or optimising the supply chain.
Management Consultant suggests on improving profitability,
repositioning, rebranding, restructuring, rebalancing etc.
The global management consulting market reached a value of nearly
$977.3 billion in 2018, having grown at a compound annual growth
rate (CAGR) of 8.6% since 2014, and is expected to grow at a CAGR
of 10.6% to nearly $1,460.2 billion by 2022.
Management Consulting Services Market to Hit $1,460.2 Billion by

2022
Western Europe is the largest market for management consulting,
accounting for 33.8% of the global market. It was followed by North
America and Asia-Pacific and then the other regions. Going forward,
South America and Africa will be the fastest growing regions in this
market, where growth will be at CAGRs of 18.3% and 14.2%
respectively. These will be followed by the Middle East and Eastern
Europe, where the markets are expected to grow at CAGRs of 13.7%
and 13.0% respectively
Evolution of Management Consultancy

➢ Management Consultancy has evolved over a period of time.
➢ The first management consulting firm was created in 1890
by Arthur Dehon Little
➢ The first management consultancy to serve both industry and
government clients was Booz Allen Hamilton, founded in 1914,
➢ while the first modern, pure management and strategy consulting
company was McKinsey & Company.
➢ Rise of management consultancy after World War II
▪ Development of tools for strategic management Boston
Consulting Group (1963), McKinsey&Co, Harvard Business
School
▪ Bain & Co - focus on shareholder wealth
➢ Consulting within accountancy and technology firms
▪ PwC and IBM
➢ Niche consultancy firms
▪ Corporate social responsibility
Types of Consultants
▪ Strategy Consultant
▪ Management Consultant
▪ Operations Consultant
▪ Financial Advisory Consultant
▪ Human Resource Consultant
▪ Technological Consultant
OR
❖ Strategy Consultant firms
❖ Implementation firms
❖ Function specific firms
❖ Industry specific firms
Skills Set required for Management Consultants

Team Player
Problem Solver &
Powerful Negotiator
Excellent
Communicator
Decision Maker
Solution Focused
& Indicators
Financial Inclusion Creative Thinker
Stress Resilient
Why Business Organizations hires Management

Consultants?
Management consultants are utilized by companies for a variety
of reasons, including to receive external and ostensibly objective
advice by professionals. Some of the reasons for hiring a
Management consultant are :
➢ They help in identifying the critical issues and problem.

➢ Management consultants provide companies with solutions to
improve their performance by typically analysing a company’s
current problems.
➢ They helps in providing solutions for improved performance
from the perspective of Operations, Distribution and Logistics
and other functional areas of Marketing, Finance Human
Resource etc.
Why Business Organizations hires Management Consultants?

Cont…..
➢ Need for Efficiency and Effectiveness

➢ Need for Performance Evaluation
➢ Need for specialised Skill
➢ Need for total turnaround
➢ Consultants expertise in best practices across industries and functions
▪ Serving multiple clients in the same sector
▪ Serving multiple clients facing similar problems across different
sectors
A Hierarchy of Consulting Purposes

Consulting and Performance Counseling
➢ Performance Counseling refers to the help provided by the

consultant to the client in objectively analysing the given setup.
➢ It helps the client in overcome the weaknesses and to reinforce the
strengths.
➢ It is a developmental process where the client and the consultant
discuss the past performance with a view to help the client to
improve and become more effective in future.
➢ Performance Counseling is a forward looking process where the
consultant concentrates on the future and discuss upon what needs to
be done in future.
➢ During performance Counseling, conducive environment, mutual
trust and acceptance is very important.
Module II
The Process of
Management Consulting
Consulting Proposal
▪ A consulting proposal is a detail
document wherein job/services that are
to be offered to the prospective client are
mentioned at length.
▪ Consulting proposal is prepared only
after a detail meeting between the
consultant and the client was conducted
regarding the issue/problem for which
client is seeking consulting services
▪ It must include all the key elements like
issue statement, project detail, approach,
methodology, terms, timeline and
conclusion.
Essentials of Consulting Proposal

The proposal is made to convince the prospective client
regarding the expertise services of the consultant.
The proposal is a written document that helps in avoiding any
last minute confusion between the client and the consultant.
Therefore following should be considered while preparing the
proposal:
▪ Consulting Proposals should be concise, clear and
informative.
▪ The proposal must be tailored to the needs, goal and
expectation of the client.
▪ Methods, Deliverables, detailed steps and cost
Steps in Consulting Amity Business School
Consulting Process Amity Business School
• First Meeting with Client

Entry • Preliminary Problem
• Purpose Analysis Diagnosis
• Problem Analysis • Assessment Planning
• Fact Finding • Assessment Proposal to
• Fact Analysis Diagnosis client
• Feedback to
Client • Developing Solutions
• Evaluating Alternatives
• Proposal to client
Action Planning
• Planning for
Implementation
• Assisting with
implementation
• Adjusting Implementation • Evaluation
proposals • Final Report
• Training • Settling Commitments
• Plans for follow up
Termination • Withdawal
Steps in Consulting
▪ Defining the problem/Issue : This ensures that consultants and the
clients are on the same page and catering in the same direction.
▪ Structure the Problem/Issue: Consider all the possible factors that
could possibly be influencing the situation and then structure the
problem accordingly.
▪ Prioritizing the issue: Identify the factors that are the most important
and relevant.
▪ Work Planning : Breaking down the project into steps with
specifying the deadlines and allocating talents to do the different
tasks.
▪ Conduct Analysis
▪ Synthesize Findings
▪ Recommendation
Define the problem

“……….Defining the Problem is very Crucial and it should not
lead to solving the symptoms”
“Let’s say a company is struggling with profitability”

This issue could be very simply be defined as the company is not
having growth.
As per the above problem the goal may be to drive more growth.
But it may not be the actual problem and restricted growth may
be a symptom to some deep rooted problem.
Therefore defining the actual problem without jumping to the

solution is very crucial.
Fact Findings
➢ Costs have remained relatively constant and are actually below
industry average so revenue must be the issue
➢ Revenue has been increasing, but at a slowing rate
➢ This company sells the product and have had no slowdown on
the number of units it has sold over the last five years
➢ However, the price per unit is actually below where it was five
years ago
➢ There have been new entrants in the market in the last three
years that have been backed by Venture Capital money and are
aggressively pricing their products below cost
Problem Statement Amity Business School
“The company is struggling to increase profitability due to

decreasing prices driven by new entrants in the market. The
company does not have a clear strategy to respond to the price
pressure from competitors and lacks an overall product strategy
to compete in this market”
On the basis of Problem Statement Hypothesis may be developed

e.g.
Company has scope to improve its pricing strategy for increasing
profitability
Company can explore new market opportunities unlocked by new
entrants
Company can explore new business models or operating models with
the help of advancement in technology
Goal
“Increase Profitability”
Hypothesis Confirmed Through
Company has scope to ▪ Analytics

improve its pricing strategy ▪ Pricing Models
for increasing profitability ▪ Interviews
Company can explore new ▪ Competitive Analysis
market opportunities unlocked ▪ Expert Interviews
by new entrants ▪ Data
Company can explore new ▪ Expert Interviews
business models or operating ▪ Technology Pilot
models with the help of ▪ Market Research
advancement in technology
Leading to Solution Development
Multiple possibilities must be explored

➢ We can increase revenue or decrease costs
➢ We can increase revenue by selling more or increasing prices
Implementation
The top-down approach, where solutions are implemented
by managers at a high level in the organization. This approach
often results in restructuring and re-engineering, and is a top-
down change where the results are expected to reverberate
down through the organizational levels of divisions,
functions, and individuals.
The bottom-up approach is implemented by employees at

lower levels of the organization, and rises to the top, until it
can be felt throughout the whole organization. In this type of
change implementation, employees are involved in the
process and provide their input, lessening resistance to
change.
Developing Strategies & Tactical Plans

Strategic Plans
❑ Porter’s Five Forces: Barrier,
Buyers Power, Substitutes,
Competition
❑ 4Ps Product, Price, Promotion,
Place
❑ 4Cs: Cost, Customers,
Competition, Companies
❑ Scenario Planning: Planning
done as per the required
situation.
Tactical Plans: Amity Business School
Some of the tactical plan used in the management consulting

are:
• Beneficiary, Target group: who will actually benefit from
the project.
• Purpose: What purpose has to be accomplished by the
project.
• Result: Project must be result oriented, what results are
estimated to be achieved
• Development Objective: It defines a wider perspective,
framework. It tell about the ultimate or long term
objective.
• Output: What all delivered by the project and what all has
to be delivered in due course.
• Indicator of Achievement: Measurement of whether
objective is achieved and how successfully.
• Actions: A set of Actions to achieve and meet objectives
• Input: Resources to be utilized
Subcontracting
Subcontracting traditionally refers
to the practice of bringing in an
outside company or individual to
perform specific parts of a business
contract or project.
It is the practice of assigning a part

of the obligations and tasks under a
contract to another party known as
a subcontractor. Subcontracting is
especially prevalent in areas where
complex projects are the norm,
such as construction and
information technology.
Difference between Subcontracting and Outsourcing

The primary differences lie in the amount of control a company has
over the work process and whether the work could have been
performed in-house.
By outsourcing some functions, the company can reserve company

personnel for their key tasks. Outsourcing is supposed to provide a
cost-efficient solution.
The subcontracting company and the provider work closely

throughout the project, and the hiring party has a reasonable amount
of control over the process
In most cases, a company subcontracts another business to
perform a task that cannot be handled internally.
Pricing of Consultancy
How do Consultants
charge for their
services?
Pricing is all about estimating your value as a consultant
Pricing is a big part of your how your audience perceives you
Consultants generally charge clients by the hour, day or project,

although some offer a retainer payment option.
The services you offer aren’t the only factor determining your pricing
Acquiring and Developing Talents
Diversity and
Recruitment &
Inclusion
Selection Programs
Strategies
Acquiring Talent
On Boarding
Profiling and
Program design
Sourcing
&
Practices
Implementations
Team
Effectiveness
Virtual Training
Program
Executive Design &
Coaching Delivery
Developing
Talents
Global
Mentoring
Leadership
Programs
Development
Top Talent
Strategy
MODULE III
IN-HOUSE MANAGEMENT VERSUS
MANAGEMENT OUTSOURCED
By Dr. Rushina Singhi
QUESTIONS COVERED :
1. What is outsourcing ?
2. Why do organizations outsource ?
3. Why outsourcing is gaining popularity ?
4. What are the recent trends in outsourcing ?
5. What are the benefits in outsourcing ?
6. What are risks involved in outsourcing ?
7. How will BPO help in the business process ?
8. HR outsourcing trends in India
9. Concept of cost benefit analysis
10. What kinds of questions does cost-benefit analysis attempt to answer?
11. Process of cost benefit analysis
CONCEPT OF OUTSOURCING Amity Business School
- allows one or more of a company’s value – chain activities or functions to be

performed by independent specialized companies
- that focus all their skills and knowledge on just one kind of activity
WHY DO ORGANIZATIONS OUTSOURCE ?
- in an attempt to better align their business process with the goal of the
organization
• through the long term transfer of the daily operations to an external
service provider.
- In order to increase organization’s revenues, reduce expenses and earn

profits in long term, outsourcing trend continues to grow
Why is outsourcing gaining popularity ?

Outsourcing is gaining popularity among all types of organizations, both public
and private because :
Firstly, It allows an organization to have an entire function performed by a

provider specializing in that particular function, for instance, benefits
administration.
Secondly, the service provider specializes in the function, it can often do the
work more cost – effectively , freeing the business assets to be used for purposes
that produce income.
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WHAT IS OUTSOURCING ?
Outsourcing is a practice utilized by various organizations to decrease costs by exchanging parts of

work to outside providers as opposed to finishing it inside.
Outsourcing is a compelling cost-sparing technique when utilized appropriately. It is now and again
more reasonable to buy a good from organizations with than it is to produce the good internally.
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TYPES OF OUTSOURCING
• Conventional outsourcing
• Greenfield outsourcing
• Tactical outsourcing
• Strategic outsourcing
• Transformational outsourcing
RECENT TRENDS
BPM and not BPO-It is about partnering in order to remain competent in the industry with dynamic
business trends.
Focus on data security-Data security is ranked highest in the list of priorities for many companies.
Using new technology has increased the fear of security and privacy.
Away from multiple vendors-One of the major concerns behind using multiple vendors is that
project delivery can be delayed.
Up in the cloud-Technology is and will always continue to be the trendsetter in the outsourcing
market.
Socially responsible outsourcing-Socially Responsible Outsourcing (SRO), it’s also known as

Impact Sourcing. This model is built on the basis of social responsibility. Its main focus is on
delivering quality service at lower cost with lower employee attrition rates, while employing workers
in BPO centres all over the world.
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REASONS FOR OUTSOURCING
• LOWER WAGES
• OCUSING ON CORE BUSINESS
• REGULATORY COST
• TO IMPROVE SERVICE OUTCOMES
• SHARING RISK WITH A PARTNER COMPANY
• EFFECIENCY
CHALLENGES TO OUTSOURCING
BENEFITS
• organizations to focus on their core capabilities
Other benefits are:

• Boost revenue
• Cut expenses
• Profitability increases
• Retaining of staff
• Avoid technological cost.
• Vendor technology access.
• Lack of in- house talent / expertise
• HR focus on strategy
• Improved service delivery
• Reduce expense related to staff
• Allow focus on core business
• Additional services
• Better access to expertise
• Enhanced compliance
• Cut costs
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RISKS Amity Business School
• Lack of security of customer and proprietary company information as well as loss of

control of work quality and the personnel .
• Organizations may face the loss of operational knowledge and negative public opinion
for reduction in the local workforce.
Other risks include :
• Less personal i.e. , face to face interactions are minimal.

• In-house talent is lost
• Relationship management can become ineffective with the service provider
• Morale of the employee tends to decrease
• Corporate culture faces negative impact
• This may lead to increase in the costs
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STRATEGIC OUTSORCING OF PRIMARY VALUE
CREATION FUNCTIONS
Company boundary before outsourcing
Research and Production Marketing and Customer

development sales service
ISSUES IN OUTSOURCING
• Ability of the service provider to deliver quality of products or services.

• Protection and security of organizations internal data in hands of the service provider.
• Risk profile of the outsourced service provider.
• Maintenance of honesty , transparency in service providers dealings.
• Service providers compliance with legal regulations.
• Reliability in getting delivery of services and products on time.
DARK SIDE OF OUTSOURCING Amity Business School
Outsourcing business activities is a common phenomenon today. Companies are directing their
resources only in their core business and the rest of the activities are being carried by a third
party. In addition to this, the lack of expertise in a firm may be another reason for
organizations’ selecting an outsourcing company.
DISADVANTAGES OF IN HOUSE HIRING
• Finding efficient candidates in small cities would be difficult.

• It is time consuming process as the organization would have to cater to all functions
and it will burden them with more responsibilities.
• It would lead to in breeding the organization.
HR OUTSOURCING BASICS Amity Business School
While deciding whether HR outsourcing is right for the company three questions should be
answered.
Q1. Is the company comfortable letting someone else handle its HR functions?
Q2. Do the company have dedicated HR representatives or adequate resources to

manage its HR needs?
Q3. Can the business afford an HR outsourcing firm?
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HOW WILL BPO HELP IN THE
BUSINESS PROCESS ? Amity Business School
In an outsourcing implementation , the BPO will :
1. Automate activities that the client organization previously did manually
2. Centralize activities that were previously spread across the organization
3. Standardized the processes
4. Provide the benefits of a technology infrastructure
5. BPO’s take advantage of their scale and negotiating powers with their vendors.
6. They also provide deep expertise, research and innovation in the targeted field.
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• So, To make financial sense we need to perform cost analysis in order to know whether to keep
process in house or turn it over to a BPO provider.
• Even when an outsourcing solution appears to be more costly or time consuming , a

comprehensive cost benefit analysis may prove it to be the best solution in the long run , to
meet the needs of your business.
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WHAT IS "COST-BENEFIT" ANALYSIS?
• Decision-making technique that involves explicitly considering the position outcomes

(benefits) as well as the negative outcomes (costs) of different decision alternatives.
• It is used to make decisions more consistently, systematically and correctly.
• It collects all available information about the costs of an HRM proposal , identifies benefits
such as cost savings and reduced turnover , and projects whether the proposal will be cost-
effective.
• The objective is to ascertain the soundness of any investment opportunity and provide a basis
for making comparisons with other such proposals.
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WHAT KIND OF QUESTIONS DOES COST-BENEFIT ANALYSIS
ATTEMPT TO ANSWER? Amity Business School
• Is the return to our expenditures on HRM programs adequate to justify these investments?
• Is it worth investing some resources to improve the quality of our human resources?
• How can a manager choose between different options for managing human resources
(such as training versus selection, or two different compensation systems) in a way that
maximizes the return to the investment?
• How can we better determine when we know enough to make a decision, and when to
invest resource in better measuring/forecasting human resource program outcomes?
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COST BENEFIT ANALYSISAmity Business School
Step 1 : Accurately, define the business process that the organization would like to outsource.
• It begins with clear definition of the analysis will accomplish.

• A clear understanding of the process to be outsourced will help the company to ensure that the
services proposed by BPO provider matches the business outcome expectations .
For example ,” the purpose of this analysis is to find out the cost – effective method of
administrating the employee benefit program “
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Step 2 : Calculate the in- house costs that could be avoided by outsourcing.
• To analyze what it currently costs the organization to have the function completed.
For example : if a function is currently performed by an employee , you would provide the direct
costs ( salary , benefits , taxes and so on ) and the indirect costs ( office space , insurance and so on )
.And then record the total current costs.
Step 3 : Calculate the total costs of outsourcing.

• The starting point is the BPO provider’s bid price.
For example : organizations may have costs for administering the outsourcing engagement , such as
processing change orders and monitoring and evaluating the provider’s performance.
Step 4 : Subtract the costs of outsourcing from in –house costs to determine savings .
• When the analysis is complete, the results is a quantifiable recommendation for the action that is in
the best long term interest of the organization.
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Example : A single-year cost analysis

Costs of an in-house business process
Cost Categories Costs Costs Avoided by Outsourcing
1.Salaries/Wages/Benefits 3 crore 2.5 crore
2. Furniture/Equipment 1 crore 1 crore

3. Supplies 2 crore 1.5 crore
4. Software 2 lakh 1 lakh
5.Utilities/Communications 15 lakh 10 lakh
6. Facility Rent/Lease 1 crore 75 lakh
TOTAL 7 crore 17 lakh 5 crore 85 lakh
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Costs of outsourcing
Cost Categories Costs
1. Vendor’s Bid Price 2.5 crore
2.Contract Administration 20 lakh
3. Transition Costs
- Accrued vacation benefits 10 lakh
- Accrued vacation benefits 15 lakh
- Penalties for early lease termination 7 lakh
4. Revenue from Sale of Unused 7 lakh
Assets
Total 2.5 crore 59 lakh
In-house costs avoided by outsourcing - Total costs of outsourcing = Cost savings

of outsourcing
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CONCLUSION Amity Business School
• When considering outsourcing the company must weigh the benefits and losses/ risk and put a
value on your current in house program from an internal customer service perspective as well as
competitive advantage it presents.
• Cost – benefit analysis is just a tool to create a framework for making outsourcing decision.
• Doing a cost – benefit analysis enables decision makers to account for the full spectrum of
budgetary issues that comprise any outsourcing project.
• Using both quantitative and qualitative measures, the analysis helps to prove, or disprove,
most effectively that an outsourcing project supports corporate goals and outcomes.
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MGMT705
By Dr. Rushina Singhi
Module IV
Cultural Management Systems
and Processes
Module IV
➢ Importance of culture to the organization [1session]

➢ Types of organizational culture [1session]
➢ Strength of organizational culture[1session]
➢ Function of organizational culture[1session]
➢ Cultural Models, Cross- Cultural Perspectives [1session]
➢ Geert Hofstede and Cross- Cultural Issues [1session]
➢ Case Study Discussion [1session]
Organizational Culture
• Organizational Culture is a set of beliefs, principles &
values of an organization.
• The employee engagement and their relationship with each
other as well as with the organization depend largely on
the culture the organization follows.
• It impacts employee satisfaction, motivation, &
engagement.
• Any successful organization may or may not have similar
organizational culture.
Strengths of Organization
Culture
• Flexibility
Strong culture can create an atmosphere where employees look
for new opportunities and adjustment to new market
conditions.
• Critical Thinking
Allows employees to think in a prioritized manner.
• Aligning Individual & Org Goals
• Reliability
A culture where each employees are treated equally with respect
to performance, its created a sense of reliability.
• Individual Judgment
Empowers individuals to assess & evaluate organization’s
policies, procedures & practices.
• Conflict Reduction
A strong culture promotes consistency of perception, problem
definition, evaluation of issues and opinions, and preferences for
action.
• Coordination and control
Strong culture promotes consistency of outlook it also facilitates
organisational processes of co-ordination and control.
• Motivation
A focus of identification and loyalty, foster beliefs and values
that encourage employees to perform.
• Competitive advantage
Strong culture improves the organisation’s chances of being
successful in the marketplace.
• It conveys a sense of identity to organisational members.
• It facilitates commitment to something larger than individual
self-interests.
• It shapes behavior by helping employees make sense of their
surroundings.
• It facilitates collective commitment.
Functions of Organization
Culture
• Culture promotes code of conduct- It actually promotes
culture of quality which help to achieve good business result.
• Culture facilitates recognition- organization get recognize by

its culture as when we take any organizations name we always
remember what culture does follows by that organization
• Culture provides self satisfaction- organization provide

internal satisfaction to its employees by esteemed culture they
provide.
• Culture guides and controls the employees- organization culture

play an vital role as a motivator which guides and controls the
employees
• Culture provides opportunity to set the standard of performance-

Organization culture gives opportunity to all its employees to set
standard for work by getting equal opportunity to participate and
compete with each other.
• Culture directs employees behaviour towards goal of achievement-

A sound organization culture helps employees to get directed in
terms of attitude and behaviour for the achievement of its goal.
• Culture makes people development-oriented- Organization

culture develops the implicit rule that makes employees self
disciplined and developed.
• Culture develops positive attitude- A sound organization

culture creates an positive environment for employees of the
organization which give positive energy and self directed
towards the achievement of their goal of the organization.
IMPORTANCE OF
ORGANIZATION CULTURE
• The culture decides the way employees interact at their workplace.
• A healthy culture encourages the employees to stay motivated and
loyal towards the management.
• The culture of the workplace promotes healthy competition at the
workplace, employees try their level best to perform better than their
fellow workers and earn recognition and appreciation of the
superiors.
• The culture of an organization represents certain predefined policies
which guide the employees and give them a sense of direction at the
workplace.
• The work culture creates the brand image of the organization. The
work culture gives an identity to the organization.
• The organization culture brings all the employees on a

common platform. The employees are treated equally and no
one feels neglected or left out at the workplace.
• The work culture unites the employees who are otherwise
from different back grounds, families and have varied attitudes
and mentalities. The culture gives the employees a sense of
unity at the workplace.
• Certain organizations follow a culture where all the employees
irrespective of their designations have to step into the office on
time. Such a culture encourages the employees to be punctual
which eventually benefits them in the long run. It is the culture
of the organization which makes the individuals a successful
professional.
TYPES OF ORGANIZATION
CULTURE
Acade
my
Normat culture Tough
ive Baseb Guy
Culture All culture
team
Pragma cultur Fortress
tic e culture
Culture Club
Culture
Normative Culture: In such a culture, the norms and procedures of the

organization are predefined and the rules and regulations are set as per the existing
guidelines. The employees behave in an ideal way and strictly adhere to the
policies of the organization. No employee dares to break the rules and sticks to the
already laid policies.
Pragmatic Culture: In a pragmatic culture, more emphasis is placed on the clients

and the external parties. Customer satisfaction is the main motive of the employees
in a pragmatic culture. Such organizations treat their clients as Gods and do not
follow any set rules. Every employee strives hard to satisfy his clients to expect
maximum business from their side.
Academy Culture: Organizations following academy culture hire skilled individuals. The roles and
responsibilities are delegated according to the back ground, educational qualification and work
experience of the employees. Organizations following academy culture are very particular about
training the existing employees. They ensure that various training programmes are being conducted
at the workplace to hone the skills of the employees. The management makes sincere efforts to
upgrade the knowledge of the employees to improve their professional competence. The employees
in an academy culture stick to the organization for a longer duration and also grow within it.
Club Culture: Organizations following a club culture are very particular about the employees they
recruit. The individuals are hired as per their specialization, educational qualification and interests.
Each one does what he is best at. The high potential employees are promoted suitably and appraisals
are a regular feature of such a culture.
Fortress Culture: There are certain organizations where the employees are not very sure about their
career and longevity. Such organizations follow fortress culture. The employees are terminated if
the organization is not performing well. Individuals suffer the most when the organization is at a
loss. Stock broking industries follow such a culture
Tough Guy Culture: In a tough guy culture, feedbacks are

essential. The performance of the employees is reviewed from
time to time and their work is thoroughly monitored. Team
managers are appointed to discuss queries with the team members
and guide them whenever required. The employees are under
constant watch in such a culture.
CULTURAL MODELS
1. Schwartz’s Model
2. Trompenaars’ Model
3. Charles Handy Model
4. Geert Hofstede Model
Schwartz’s Model
• Given by Shalom H. Schwartz in 2008.

• Discovered 6 dimensions of culture :
1. Embeddedness
2. Autonomy
3. Hierarchy
4. Egalitarianism
5. Mastery
6. Harmony
Embeddedness
➢ Maintain tradition, custom, values or set pattern of beliefs
collectively as a group.
➢ Existence defined by one goal as a team.
Autonomy
➢ Opposite to Embeddedness dimension.
➢ Giving freedom to individuals to make their own choices.
Hierarchy
➢ Organised hierarchy of social order like who should be given
more priority.
Egalitarianism
➢ Individual should be treated fairly and equally.
➢ No discrimination.
Mastery
➢ Main contributing aspect to be successful.
➢ Self is given importance so as to master himself/herself.
Harmony
➢ Living happily and united in corporation with each other in a
society
➢ without creating any difference between individuals.
Trompenaars’ Model
• The model was published in their 1997 book, "Riding the

Waves of Culture.“
• The Seven Dimensions of Culture were identified by

management consultants Fons Trompenaars and Charles
Hampden-Turner.
• They found that people from different cultures aren't just

randomly different from one another; they differ in very
specific, even predictable, ways.
• This is because each culture has its own way of thinking, its
own values and beliefs.
The seven dimensions that distinguishes people from one

culture compared with another are :
1. Universalism Vs. Particularism.

2. Individualism Vs. Communitarianism.
3. Specific Vs. Diffuse.
4. Neutral Vs. Emotional.
5. Achievement Vs. Ascription.
6. Sequential time Vs. Synchronous time.
7. Internal direction Vs. Outer direction.
Universalism Vs. Particularism
The standards to which relationships can be measured.
➢Universalism – rules , regulations, standards that are correct and

make attempts to change other’s attitude to match their standards.
➢Particularism – the response depends upon circumstances,

people are involved among themselves.
Individualism Vs. Communitarianism
Individual Vs. Group
➢ Individual - person considering themselves as a single or

independent.
➢ Communitarian - person considering themselves as a part of

group.
Specific Vs. Diffuse
➢ Specific – ensures individual with the large public spaces which

they can share easily with others.
➢ Diffuse – protect their private space.

Neutral Vs. Emotional
• Neutral – emotions are under checked.
• Emotional – emotions are expressed very easily.

Achievement Vs. Ascription
• Achievement – people receives status depending upon their

accomplishments.
• Ascription – people tends to derive their status from birth, age

and gender.
Sequential time Vs. Synchronous time
➢ Sequential – people tend to do one thing at a time and

structure time sequentially.
➢ Synchronous – people tend to do several things at a time,

having a belief that time is a flexible dimension
Internal direction Vs. Outer direction
• Internal – people belief the environment can be controlled with

the right expertise.
• Outer – people belief that they must live in harmony with the
environment.
Charles Handy Model
• Acc. to Charles Handy, there are 4 types of culture which the

organisations follow nowadays :
1. Power
2. Task culture
3. Person culture
4. Role culture
Power Amity Business School
Power rests in the hands of only few people in the organisation,

specially the senior staff , the major decision makers.
Task Culture Amity Business School
Teams are formed to achieve targets that solve some critical

problem or achieve some target in a project.
Person Culture
Employees keep their interest above that of the organisation.

Role Culture Amity Business School
Employees are assigned role which is delegated to them by their

seniors according to their qualifications, skills and interests.
Geert Hofstede Model

It describe the effects of a society’s culture on the values of its
members. How are these values related to the Behaviour of an
individual who is experiencing change in the culture. The various
value dimensions as proposed are as follows :
• Power Distance
• Uncertainty Avoidance
• Individualism
• Masculinity
• Orientation
Power Distance Index
The power distance index considers the extent to which inequality

and power are tolerated. In this dimension, inequality and power are
viewed from the viewpoint of the followers – the lower level.
• High power distance index indicates that a culture accepts

inequity and power differences, encourages bureaucracy and
shows high respect for rank and authority.
• Low power distance index indicates that a culture
encourages organizational structures that are flat, decentralized
decision-making responsibility, participative style of
management, and places emphasis on power distribution.
Individualism vs. Collectivism

The individualism vs. collectivism dimension considers the
degree to which societies are integrated into groups and their
perceived obligation and dependence on groups.
Individualism indicates that there is greater importance on

attaining personal goals.
A person’s self-image in this category is defined as “I.”
Collectivism indicates that there is greater importance on the

goals and well-being of the group.
A person’s self-image in this category is defined as “We”.
Masculinity versus Femininity

The masculinity vs. femininity dimension is also referred
to as “tough vs. tender,” and considers the preference of
society for achievement, attitude towards sexuality
equality, behaviour, etc.
• Masculinity comes with the following characteristics:
distinct gender roles, assertive, and concentrated on
material achievements and wealth-building.
• Femininity comes with the following characteristics:
gender roles, modest, nurturing, and concerned with
the quality of life.
Uncertainty Avoidance Index

The uncertainty avoidance index considers the extent to
which uncertainty and ambiguity are tolerated. This
dimension considers how unknown situations and
unexpected events are dealt with.
• High uncertainty avoidance index indicates a low tolerance
for uncertainty, ambiguity, and risk-taking. The unknown is
minimized through strict rules, regulations, etc.
• Low uncertainty avoidance index indicates a high tolerance
for uncertainty, ambiguity, and risk-taking. The unknown is
more openly accepted, and there are lax rules, regulations,
etc.
Long-Term Orientation vs. Short-Term Orientation

The long-term orientation vs. short-term orientation dimension
considers the extent to which society views its time horizon.
• Long-term orientation shows focus on the future and involves

delaying short-term success or gratification in order to achieve
long-term success. Long-term orientation emphasizes
persistence, perseverance, and long-term growth.
• Short-term orientation shows focus on the near future,
involves delivering short-term success or gratification and
places a stronger emphasis on the present than the future.
Short-term orientation emphasizes quick results and respect for
tradition.
Indulgence vs. Restraint

The indulgence vs. restraint dimension considers the extent and
tendency for a society to fulfil its desires. In other words, this
dimension revolves around how societies can control their
impulses and desires.
• Indulgence indicates that a society allows relatively free

gratification related to enjoying life and having fun.
• Restraint indicates that a society suppresses gratification of
needs and regulates it through social norms.
Cross Cultural Issues
One should take the positive steps

- Develop HR policies and practices (bias free)
- Avoid discrimination and provide equal opportunities.
- Educate employees to change mind-set and prejudice
- Develop organization culture for valuing differences. Open
culture develops tolerance for cultures of their employees.
- Top management to support the company’s multi-cultural
events and encourage employees to attend.
- Managements must recognize that a heterogeneous group will
produce better ideas and strategies than homogeneous groups.

MGMT705
Dr L.K.Dhillon
Conflict of
Interests
Among
Stakeholders
Reasons for Conflict among the stakeholders

Strategies for Dealing With Stakeholders Conflicts

1. Identify and watch stakeholders closely and classify them into
three category:
a. Primary Stakeholder
b. Secondary Stakeholder
c. Key Stakeholder
2. Listen to what stakeholders says

3. Meet them one on one
4. Determine their motives
Keep Stakeholders Moving Forward
➢ Listen to your stakeholders and strive to meet their
needs—difficult or not.
➢ Ensuring they're feeling heard, valued, and appreciated
grows trust and support.
➢ Building relationships and understanding motives takes
time and effort but will make job easier in the long run.
Organisations are more successful when everyone is on the same page!

Business Ethics
&
Corporate Governance
"A man does what he must - in spite of personal

consequences, in spite of obstacles and dangers and
pressures - and that is the basis of all human
morality." - John F. Kennedy (1917 - 1963), 35th
President of the United States
Ethics
➢ It is a branch of philosophy and
is considered as a normative
science because it is concerned
with the norms of human
conduct.
➢ It is conception of right and
wrong behaviour, defining when
the actions are moral and when
is immoral.
➢ In simple it refer to the moral
principles that govern how
humans conduct themselves at
work and outside
Business Ethics
➢ It is the art and discipline of
applying ethical principles to
examine and solve complex
moral dilemmas
➢ An Ethical business is one that
tries to trade off between
pursuing economic objectives
and its social Obligations.
➢ It refers to contemporary
standards or sets of values that
influence the behaviour and
actions of an individual in a
commercial enterprise.
Un Ethical Practices
❑Misleading advertising
❑Misleading labeling
❑Poor product or service safety
❑Harming the environment
❑Insider trading
❑Padding expense accounts
❑Dumping products on foreign markets
Ethics in Business
Honesty:
▪ An ethical director, manager or executive must be honest and
truthful in all his or her dealings.
▪ They should never purposefully mislead or deceive other people by
overstatements, partial truths, misrepresentations, selective
omissions, etc
Integrity:
▪ Ethical executives demonstrate the courage of their convictions and
demonstrates personal integrity by doing what they believe to be
the right thing, regardless of pressures to do otherwise.
▪ They are honourable, principled and upright, and will defend their
beliefs.
▪ Principle is never sacrificed for expediency, they are never
unscrupulous or hypocritical.
"Integrity is telling myself the truth. And

honesty is telling the truth to other
people."
"Integrity is doing the right thing, even if

nobody is watching."
Trustworthy & a Promise-Keeper:

▪ They are worthy of trust. Ethical executives are forthcoming and
candid in explaining things with the relevant information and
correcting misstatements.
▪ They try as hard as they can to keep to the letter and spirit of their
commitments and promises.
Loyalty:
▪ They are loyal to individuals and institutions by support and
devotion to duty and friendship in adversity.
▪ They do not exploit a situation by disclosing information they
learned in confidence.
▪ They are extremely careful not to be affected by conflicts of
interest.
▪ They are extremely loyal to their companies and work colleagues.
Fairness:
▪ They are just and fair in all their dealings.
▪ They never exercise power arbitrarily.
▪ They do not use indecent means to gain an advantage or exploit
other people’s mistakes for their own benefit.
▪ They are committed to justice and the equal treatment of people.
They are willing to admit they are wrong.
Compassion and Empathy:

▪ Ethical executives are compassionate, empathetic, benevolent,
kind and caring.
▪ They strive to achieve their business goals and targets in a
manner that causes the least harm.
Respect:
▪ They demonstrate total respect for the human rights, dignity,
autonomy, interests and privacy of everybody who is affected by
their decisions.
▪ They are polite and treat everybody with equal respect and dignity
regardless of nationality, national origin, race or sex.
Law Abiding:
▪ They respect and abide by the laws, regulations and rules of the
marketplace
Committed to Excellence:
▪ They aim to perform their duties to the best of their abilities.
▪ They make sure they are prepared and well-informed, and
constantly try to improve in all areas of responsibility.
Leadership:
▪ They aim to be positive ethical role models.
▪ They are aware of the responsibilities and opportunities of their
position of leadership
▪ They aim to create an environment in which ethical decision-
making and principled reasoning are highly prized.
Reputation & Morale:
▪ They aim to build and maintain the company’s good reputation as
well as the morale of its workforce.
▪ They avoid becoming involved in conduct that may undermine
respect and will take all actions necessary to prevent the
inappropriate conduct of others.
Accountability:
▪ They accept personal accountability for the ethical quality of their
decisions.
Ethics in Compliance
Includes the factor of obeying and sticking to rules, regulations, and authority.
The motive of this compliance is to do the right things at the right place and at
the right person. They neglect the wrong way to work and accept the factor of
law.
Ethics in Finance
(i) Misleading financial evaluation or analysis,
(ii) Misinterpretation in transaction analysis with another party,
(iii) Securities fraud,
(iv) Executive compensation,
(v) Bribery and overbilling of expenditures
Ethics in Human Resources

Human resource management (HRM) plays a very crucial role in introducing
ethics. The ethics of human resource management (HRM) covers, duties, rights,
ethical issues between the relation of employer and the employees.
The issues of ethics faced by HRM include:
(i) Discrimination on the basis religion, age, weight, and so on,
(ii) Occupational health and safety,
(iii) Sexual harassment,
(iv) Issues relating to the fairness of employees or employers work.
Ethics in Marketing
Marketing ethics is the factor of applied ethics which works with the moral
principles behind the regulation and operation of marketing approach. The ethical
issues confronted in the area include:
(i) Price discrimination and price fixing,
(ii) Text or copy of advertisements,
(iii) Miscommunicating advertisements,
(iv) Black and grey markets.
Ethics of Production
➢This concept of business ethics focuses on the activities of
companies to ensure that the production process does not cause
harm.
➢If the product is not suitable for our customers than it will be
immediately out of the market.
➢In business ethics, the companies produce the products with the
respect of customer traditions, morals, thoughts, and values.
They consider some points such as:-

(i) Remove defective products,
(ii) Maintain ethical relations between the company and the
environment like pollutions.
Why Business Ethics are Important?

✓ It improve consumers confidence
✓ It stops malpractices
✓ It helps in creating a sustainable Organization
✓ Protect employees and shareholders
✓ Create good public image
✓ Promote Consumer satisfaction
✓ Promote healthy competition
✓ Develop good relationship between business and society
✓ Protects consumers rights
Why Fostering Good Business Ethics Is Important
❑ To gain the good will of the community

❑ To create an organization that operates consistently
❑ To foster good Business practices
❑ To protect organization/employees from legal action
❑ To avoid unfavorable publicity
What is the source of Business Ethics

Business Ethics ...
Free
Law Choice
Ethics
Legal Standard Social Standard Personal Standard
A personal responsibility?
Ethical Dilemmas
Ethics is always about making decisions. But some times some
issues are difficult to resolve.
Ethical dilemma arises :
• In a situation concerning right or wrong when values are in

conflict
• Right and wrong cannot be clearly identified.

What would you do in the following situation?

As a sales manager for a major
pharmaceuticals company, you have
been asked to promote a new drug
that costs around ₹2000 per dose.
You have read a report that says that
this new drug is only 1% more
effective than a alternate drug that
costs approx. ₹150 per dose. The
sales VP wants you to aggressively
promote this new drug. He reminds
you that if you don’t do so life's
could be lost that might have been
saved otherwise with this new drug.
What would you do in the following situation?
Your company is hoping to build a new

manufacturing plant. You could save
about ₹ 20 crores by not installing a
standard pollution control equipment.
The plant will employ large number of
locals and become the source of bread
& butter for many. Your research shows
that the pollutants from the factory
could potentially damage the local
fishing industry. Yet building the
factory with pollutant equipment shall
likely to make the plant very expensive
to build.
Criteria for Ethical Decision Making
Most ethical dilemmas involve a conflict between the needs of

the part and the needs of the whole
▪ Individual Vs the organization

▪ Organization Vs. Society as a whole
Normative Strategy
Based on norms and value to guide decision making

Utilitarian Approach Amity Business School
Moral Rights Approach Amity Business School
Common Good Approach Amity Business School
Justices Approach Amity Business School
Virtue Ethical Approach Amity Business School
Corporate Governance
• Corporate governance is the system of rules, practices and
processes by which a company is directed and controlled.
• Corporate governance essentially involves balancing the

interests of a company's many stakeholders, such as
shareholders, management, customers, suppliers, financiers,
government and the community.
• Embodied in the processes that companies use to promote:
•Corporate fairness
•Complete and accurate financial disclosures
164
•Management accountability
Best CG Practices
• Build a strong and qualified board of director’s team

• Define roles and responsibilities
• Emphasize integrity and ethical dealing
• Evaluate performance unbiasedly
• Engage in effective risk management

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Amity Business School

MBA & Specialized MBA Class of 2020,

▪ Bring students closer to reality by developing their understanding

▪ Develop students the attributes of a consultant.

▪ Develop not theoreticians but practitioners who are expected to

Student Learning Outcomes

On completion of this course

▪ Students will be able to Examine political, economic, geographic and

▪ Provide deep understanding and working knowledge of managing a

▪ Develop critical thinking skills through reading and case studies to

➢ Introduction to the course, books texts and reference material. Introduction to

Module II The Process of Management Consulting

➢ Consulting Proposals [1session]

Module III In-house Management versus Management Outsourced

➢ Why a Sense of Skepticism and Unease Towards Management Consultants [2

Module IV Cross Cultural Management Systems and Processes

➢ Types of organizational culture [1session]

Module V Economic and Social Issues in Management

➢ Adaptation to Changing Environment in General and Economic Environment

Module VI Ethical Issues in Management

➢ Relationship among Various Stakeholders, , [1session]

What is Modern Management?

Modern Management Theory

Streams of Modern Management

Quantitative approach focuses on the

Herbert A. Simon is the father of this Theory

Robert L.Khan, Daniel Katz and Richard A. Johnson are

System Approach cont…..

G.M.Stalker, Joan Woodward, Tom Burns and Paul Lawrence are

Issues and Challenges in Modern Management

Outsourcing Management Services

A research from IBM revealed that…….

“only 27% of companies outsource to cut costs,

The most commonly outsourced

Outsourcing could be…..

❑ Information Technology Based

❑ The Professional Level

Is Outsourcing a Good Business Strategy?

Management Consulting Services Market to Hit $1,460.2 Billion by

Evolution of Management Consultancy

Skills Set required for Management Consultants

Why Business Organizations hires Management

➢ They help in identifying the critical issues and problem.

Why Business Organizations hires Management Consultants?

➢ Need for Efficiency and Effectiveness

A Hierarchy of Consulting Purposes

Consulting and Performance Counseling

➢ Performance Counseling refers to the help provided by the

Essentials of Consulting Proposal

• First Meeting with Client

Define the problem

“Let’s say a company is struggling with profitability”

Therefore defining the actual problem without jumping to the

“The company is struggling to increase profitability due to

On the basis of Problem Statement Hypothesis may be developed

Hypothesis Confirmed Through

Company has scope to ▪ Analytics