Professional Documents
Culture Documents
Industrial Management
Industrial Management
Segment-4
i. Establishing Standards
ii. Measuring Actual Performance
iii. Comparing the Actual Performance with Expected
Performance
iv. Correcting Deviations
Define PLC.
Mention the different stages in Product Life
Cycle(PLC) with example.
Stage of PLC:
- Young, Single.
- Young, Married, No Children.
- Young, Married, Youngest Children Under 6.
- Married, Youngest Children 6 or Over.
- Older, Married, With Children
- Older, Married, No Children Under 18
- Older, Single
- Other
Description
‘Price off’ offer: Goods are sold at reduced prices during slump
season. Reduction in prices stimulates sale of goods.
Small, demographically
High selectivity, low cost, immediacy, skewed audience, relatively
Online
interactive capabilities low impact, audience controls
exposure
4Ps is:
- Price
- Product
- Promotion
- Place
How Does a Budget Help a Manager With Financial
Control?
Planning
Prioritizing
Continuous Improvement
Forecasting
One year's budget often serves as a basis for the following year,
and when managers are involved in the budgeting process, each
of the previous steps can be applied looking forward. Managers
may be in a unique position to observe the effects of improved
staff training, for example, as a contributor to improved
performance. Forecasting becomes a chance for an effective
manager to reach beyond the bounds of his department to
suggest changes that may create better conditions for financial
success the following year.
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Establish Goals
The first step of the management planning process is to identify
specific company goals. This portion of the planning process
should include a detailed overview of each goal, including the
reason for its selection and the anticipated outcomes of
goal-related projects. Where possible, objectives should be
described in quantitative or qualitative terms. An example of a
goal is to raise profits by 25 percent over a 12-month period.
Identify Resources
Each goal should have financial and human resources
projections associated with its completion. For example, a
management plan may identify how many sales people it will
require and how much it will cost to meet the goal of increasing
sales by 25 percent.
Establish Goal-Related Tasks
Each goal should have tasks or projects associated with its
achievement. For example, if a goal is to raise profits by 25
percent, a manager will need to outline the tasks required to
meet that objective. Examples of tasks might include increasing
the sales staff or developing advanced sales training techniques.
Prioritize Goals and Tasks
Prioritizing goals and tasks is about ordering objectives in terms
of their importance. The tasks deemed most important will
theoretically be approached and completed first.
For example, if a goal is to increase sales by 25 percent and an
associated task is to increase sales staff, the company will need
to complete the steps toward achieving that objective in
chronological order.
Create Assignments and Timelines
As the company prioritizes projects, it must establish timelines
for completing associated tasks and assign individuals to
complete them.
For example, the sales manager in this scenario may be given
monthly earning quotas to stay on track for the goal of
increasing sales by 25 percent.
Establish Evaluation Methods
A management planning process should include a strategy for
evaluating the progress toward goal completion throughout an
established time period. One way to do this is through
requesting a monthly progress report from department heads.
Identify Alternative Courses of Action
Even the best-laid plans can sometimes be thrown off track by
unanticipated events. A management plan should include a
contingency plan if certain aspects of the master plan prove to
be unattainable. Alternative courses of action can be
incorporated into each segment of the planning process, or for
the plan in its entirety.
Group-B
Essential Element
- Delivery ways.
- Payment and delivery.
- Time of delivery.
- Place of delivery.
- Delivery expense.
- Delivery to carries.
- Delivery to installments.
- Goods in the custody of third parties.
- Defective delivery.
1. Delivery Ways :-
When goods are sold then delivery can be made by symbolic,
actual or constructive way. It depends upon the parties that
which way they adopt.
2. Time of Delivery :-
The seller should deliver the goods on a specified date. If the
time is not fixed then delivery should be with in a reasonable
time.
4. Place of Delivery :-
A delivery of goods should be at a specified place mentioned in
the contract.
Example :- "X" agrees with "Y" to supply furniture on 38-Tipu
Road Ahmadabad. "X" is bound to supply the goods on the
same place, where parties made contract.
5. Delivery Expenses :-
The expenses of putting the goods into deliverable state must be
born by the seller, otherwise as the parties agree.
Example :- "X" sells the T.V to "Y". The expenses of packing
the T.V will be born by the seller.
6. Delivery to Carrier :-
When seller is required to send the goods to the buyer, the
delivery to carrier is considered delivery to the buyer.
Example :- "X" sells computer to "Y". "X" handed over the
computer to the carrier to be delivered to "Y". it means delivery
has been made.
7. Delivery in Installments :-
The buyer is not bound to receive the goods in installments but
if the buyer and seller are agree then the delivery of goods may
be made in installments.
8. Good In the Custody of Third Party :-
If the sellers goods are in the custody of the third party, the
delivery is not possible until the third party agrees to handed
over the sold goods to the buyer on behalf of the seller.
Example :- "M" has his cycle in the store of "Y". "M" sells the
cycle to "B" and gives him letter to take from "Y". "Y" agrees to
deliver the cycle to "B".
9. Defective Delivery :-
A buyer can reject or accept the defective and wrong delivery.
In case of rejection buyer is not bound to return it to the seller.
Example :- Mr. Imik buys 1000 books of Economics from Khan
publishers. Publishers sends 500 books. Mr. Imik may reject the
whole or accept 500 and ask for the rest.
Organizing: Centralization,Subcontracting
What?
- What to do?
- Why do?
- What should be done?
Who?
- Who do?
- For whom should be done?
Where?
- Where is it?
- Where should it be done?
- Where are you sending?
- Where you should send?
When?
- When you make?
- When should it be done?
- It is done in time?
- What is the best moment?
Why?
- Why do?
- Why this way?
How?
- How do you do?
- How should it be done?
- The method is practical?
- Which method should have been used?
How much?
- How much does that do?
- Why does it cost this?
- It's the least that could cost?
- How much should it cost?
The Product:
Product is the link between production and marketing.It is
not enough that a customer requires product but the
organization must be capable of producing the product.
The Plant:
The plant accounts for major investment.
The plant should match the needs of the product, market, the
worker and the organization.
The Process:
There are always number of alternative methods of creating a
product. But it is required to select the one best method,
which attains the objectives.
1. Available capacity
2. Manpower skills availability.
3. Type of production.
4. Layout of plant.
5. Safety.
6. Maintenance required.
7. Manufacturing costs.
The Programs:
The programs here refers to the timetable of production.
1. Purchasing
2. Transforming
3. Maintenance
4. Cash
5. Storage and transport
The People:
Production depends upon people. The people vary in their
attitudes, skill and expectations from the work. So, to make
best use of available human resource, it is required to have a
good match between people and jobs which may lead to job
satisfaction.
1. Wages/salary administration
2. Conditions of work
3. Motivation
4. Training of employees.
5. Ensure safety.