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Classical Management Theories (1)
Due to the globalization and with the growing business activities and industries, managers are facing problems with decision making and implementation. Henri Fayol proposed 14 principles of management for effective decision making and for giving guidelines for management actions. These principles of management are the secret behind successful organizations is understanding and practicing principles of management. This lecture is aimed for every manager who want to learn about these important principles.This lecture describes about the Fayol 14 Principles of Management proposed by Henri Fayol who is known as the father of Management.
PESTLE Analysis
A PESTLE analysis is a framework or tool used by marketers to analyse and monitor the external marketing environment factors that have an impact on an organisation. The result of which is used to identify threats and weaknesses which is used in a SWOT analysis. It is intended to give decision-makers an understanding of changes that may be occurring within a given market and help in making better business decisions. . Therefore, business owners, marketing managers and marketers should learns this lectures to improve their decisions.PESTLE stands for Political, Economic, Social, Technological, Environmental and Legal Factors (business evaluation). This video details each facts with significant examples.
Industry Analysis
An industry analysis is a business function completed by business owners and other individuals to assess the current business environment and to know their position in the market against their competitors. It helps businesses to estimate how much profit they can generate from business operations and to understand various economic pieces of the marketplace and how these various pieces may be used to gain a competitive advantage.In this lecture, the industry analysis is outlined based on Michael Porter's five forces model. The five forces are: 1) the potential for new competitors to enter the market; 2) the bargaining power of buyers; 3) the bargaining power of suppliers; 4) the availability of substitute goods; and 5) the competitors and nature of competition.
Internal Business Analysis
An internal analysis is an exploration of the organization's competency, cost position and competitive viability in the marketplace. Conducting an internal analysis often incorporates measures that provide useful information about the organization's strengths, weakness, opportunities and threats.This video is about internal business analysis describing: the resources of organization, standards of resources, competency and functions of of organization and business.
Setting Objectives
Doing business without objectives looks like walking without any destination. Business objectives encourages employees motivation and management style to be more effective. These objectives can help employees and owner to adjust that their performance correspond with business goals.From this lecture, you can learn why businesses set their objectives, why it is important for the success of businesses, characteristics and types of objectives with simple examples.
7S Framework
The McKinsey 7S Framework is a management model developed by well-known business consultants Robert H. Waterman, Jr. and Tom Peters in the 1980s. This was a strategic vision for groups, to include businesses, business units, and teams. The purpose of the 7-S framework is to function as a checklist of sorts for a business. By looking at each element and how it is connected to each other element, a business can determine whether it is in a position to achieve its goals and how it will respond, and adapt, to change.This lecture is about the management model, McKinsey 7-S Framework containing the seven elements: 1.Strategy to achieve objectives, 2. Structure, 3. System, 4. Shared value, 5. Style, 6. Staff and 7. Skills.
Effective Delegation
Delegation means assignment of responsibility and authority to another person. In businesses, manager assign tasks to his/her subordinates. Delegation is key team leader and management skill. Good delegation techniques and systems can help individuals and organisations to be more effective. Therefore, this lecture is for any leader or manager to improve their management skills.This lecture describes the importance of delegation in organizations, how to delegate effectively and benefits of delegation.
Shop-Floor Level Management (1)
Shop floor management is concerned with pre-planning, planning, staffing, directing, monitoring and control of activities that enhance shop efficiency and analysis. Production/operations activity signifies the process of transformation of materials (inputs) into desired output (product/services). The purpose of this lecture is to share everyone about the knowledge of shop floor level management and they can apply this knowledge in their work environment.This video explains what shop floor level management is and where and when it is needed for a business and how shop floor level management can improve the behaviour and profit of an organization.
Porter’s Generic Business Strategies
Along with the increase in market size, the competition of the businesses become intensive. This encourages businesses to improve the quality of goods and services they sell to attract more customers and expand market share. Therefore, the businesses need to consider the better strategies for their products and market than their competitors. Porter's Generic Competitive Strategies is the ways of competing for achieving above average performance in an industry: cost leadership, differentiation, and focus.This lecture describes the generic strategies explored by Harvard Professor, Michael Porter through 4 strategies, namely: ● Cost Leadership ● Differentiation ● Cost Focus ● Differentiation Focus
Sustainability of a Business
Sustainability is an issue confronting all businesses today, no matter their size or place in the marketplace. Increasingly, businesses are finding that embracing sustainable practices leads to better corporate culture, more reliable products and greater long-term profitability. So, this lecture is created to supports ways to overcomes these problems.This lecture is about how businesses can sustain their success in long-term. This is proposed in four perspectives: 1. financial perspective 2. customer perspective 3. internal process perspective 4. organizational perspective
Different Management Styles
A management style is the particular way managers go about accomplishing these objectives. Management styles vary by company, level of management, and even from person to person. It encompasses the way they make decisions, how they plan and organize work, and how they exercise authority. A good manager is one that can adjust their management style to suit different environments and employees. This lecture is aimed to share managers knowledge about autocratic management and democratic management styles.This lecture proposes the autocratic management and democratic management styles used to manage different people in different situations.
Consequence Management
Consequence management is the measures to protect and provide emergency relief to business and individuals affected by the consequences of negative situation. Every organization encounters negative results in their activities and needs to change these negative results to positive ones for the success of the organization. Therefore, this lecture is intended to not only business but also every organization to realize the importance of consequence management and to apply these valuable knowledge in their works.This lecture describes the meaning of consequence management, the source of poor management and how to change negative results to positive results to reach the goals of the organization.