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Knowledge Management Practices that discover and harness an orgs intellectual resources Collaboration across Boundaries - Needs productive

e communications b/t different departments - Motivate/capitalize on ideas of people outside of organization - Boundary Scanning See what customers want/ what competitors are doing Success Drivers: Innovation, Quality, Service, Speed, Cost Competitiveness Management Work w/ ppl & resources to reach org. goals (efficient/effective) Functions of Management Planning Making decisions about goals that will be pursued - Analyze current situations, anticipate future, determine objectives, activities - Value Monetary amount w. how well a good meets needs Organizing Assembling/coordinating human, financial, physical, info resources for goal - Specify job responsibilities, group jobs into work units, use resources Leading Stimulating people to be high performers Controlling Monitoring performance and making needed changes Top-Level Managers (Strategic) Senior execs for overall mgmt. Low detail. 3-7yrs Middle-Level Managers (Tactical) Middle. Translate goals by top-level to be specific. Mid-detail. 1-2yrs Front-Line Managers (Operational) Lower-level who supervise. Supervisors/Sales Managers. High detail.<1yr - Link b/t managerial/nonmanagerial Planning Process: Situational Analysis, Alternatives, Evaluation, Selection, Implementation, Monitor & Control Planning Conscious, systematic process of making decisions about goals pursuing in future Situational Analysis - Gather, interpret, and summarize all info relevant to the planning consideration Goal A target or end that management desires to reach (stress creativity, think in broad terms) - SPECIFIC, MEASURABLE, ATTAINABLE, RELEVANT, TIMELY, SMART Plan The actions/means used to achieve org goals Scenario: A narrative that is a particular set of future conditions - Successful implementation requires plan to be linked to other systems (budgets/rewards) - Managers must continually monitor performance of work units against units goals/plans Strategic Plan Set of procedures for making decisions about orgs long-term goals/strategies Strategic Goals Major targets or end results that relate to long-term survival, value, & growth of org Strategy Pattern of actions/resource allocations to achieve goals Strategic Management All managers from org in formulation and implementation of strategic goals Tactical Planning Translates broad strategic goals into specific goals, like marketing Operational Planning Process of identifying specific procedures required at lower levels of organizations Mission Organizations basic purpose and scope of organizations (why you exist) Resources Inputs to a system that can enhance performance Benchmarking Process of accessing how well one companys basic functions/skills compare to another company. Comparing yourself to THE BEST Corporate Strategy - The set of businesses where org competes & distribute resources among those entities Concentric Diversification Add new businesses that produce related products or are involved in related markets. Low-Cost Strategy Used to build competitive advantage by being efficient and offering a standard, no-frills product Differentiation Strategy Used to build competitive advantage by being unique in its industry/market segment Strategy Implementation: Define strategic risks, Assess orgs capabilities, Develop agenda, Create plan Strategic Control System Designed to support managers in evaluating orgs progress in its strategies and when problems exist, taking corrective action Control Directs activities toward the achievement of org. goals Bureaucractic Control: Use of rules, regulations, and authority to guide performance (depression) Market Control : Use of pricing mechanisms to regulate activities within orgs Clan Control : Control based on norms, values, shared goals, and trust among group members The Control Cycle : Set performance standards, Measure Performance, Compare performance against standards, Take action to correct problems and reinforce success Principle of Exception Control enhanced by concentrating on exceptions/deviation from standards Feedforward Control The control process used before operations begin. (Policies/procedures)Drug Test Feedback control Use of previous results to correct deviations from standard

Concurrent Control Plans carried out. Directing, monitoring, & fine-tuning activities External Audit Looks @ other orgs for merger/acquist., determines soundness that will be used as major supplier, finds strengths/weaknesses of competitor to get competitive adv

Internal Audit Periodic assessment of companys own planning, organizing, leading, & control - Assesses what the company has done for itself/customers Management Myopia Focus on short-term profits at the expense of longer-term strategic obligations Balanced Scorecard Control system w/ 4 performance measures: financial, customer, business process, and learning/growth Services Combo of time, location, form, or psychological value Supply Chain Activities and orgs involved in producing and delivering good/service The Transformation Process = Inputs (Land, labor, capital, info) Transformation/Conversion Process (Where value is added) Outputs (Goods/Services) Goods-Service Continuum Products arent purely service/purely goods. Mix of both. Manufacturing vs. Service: Degree of customer contact, Uniformity of Input/output, labor content, measure of productivity, production/delivery, quality assurance, inventory, evaluation of work, ability to patent design Process Variation (4) 1) Variety of goods or services being offered: The greater the variety offered, the greater the variation in production/service requirements 2) Structural variation in demand Predictable. Important for capacity planning 3) Random Variation Natural/Present in all processes. Cant be influenced by managers. 4) Assignable Variation Has identifiable sources. Can be reduced/eliminated System Design Capacity, facility location/layout, product/service planning. Acquisition/placement of equipment. Long-term commitment of resources System Operation Tactical/Operational. Management of personnel, inventory control, scheduling, prj management, quality assurance Decision Making What, when, where, how, who System Set of interrelated parts that work together (marketing, operations, finance) Systems Approach The whole is greater than sum of its parts Scientific Management Frederick Taylor. Maximize output. Science of management. Sustainability Using resources that dont harm ecological systems Key Issues for Op. Managers: Economic conditions, innovating, quality problems, risk management, competing in global economy Competitiveness How effectively org meets wants/needs of customers relative to others that offer same good. Compete through combo of marketing and operations. What do customers want? How can their needs best be met? Hierarchical Planning Mission, goals, org strategies, functional strategies, tactics Marketing Influence -Identify wants/needs, pricing, advertising/promotion Goals Provide detail and scope of the mission. Org. destination. Strategy A plan for achieving org goal. Roadmap for org. destinations 1) Organizational Strategies Overall strategies that relate to entire org 2) Functional Level Strategies - Strategies that relate to each of the functional areas Tactics Methods and actions taken to accomplish strategies. How to process Operations The actual doing part of the process Effective Strategy Formulation Core Competencies, SWOT, Quality-Based Strategy, Time-Based Strategy Environmental Scanning See if market changed, what consumers want, what competitors doing (internal/external factors) Order Qualifier The minimum that you must meet to be in the business Order Winners Characteristics in a product that is seen as better than competitors Agile Operations Use of flexibility to adapt and prosper in an environment of change - Involves blend of: Cost, quality, reliability, flexibility The Balanced Scorecard Approach A top-down management system that orgs use to clarify their vision and transform them into action Productivity = Effective use of resources. Output / Input

Key Questions Is there a demand for it? - Market Size & Demand Profile Can we do it? - Manufacturability: Capability to produce and make profit from it - Serviceability: Capability to provide service What level of quality is appropriate? - Customer expectations, competitor quality, fit with current offering Does it make sense from an economic standpoint? - Liability issues, ethical, sustainability, costs/profits Idea Generation (Competitor Based) Study how competitor operates and products Research & Development (R&D) Organized efforts to increase scientific knowledge or product innovation Value Analysis Examination of function of parts/materials in an effort to reduce the cost and/or improve performance of a product Standardization Extent to which there is an absence of variety in a product Advantages 1. Fewer parts to deal with in inventory and in manufacturing 2. Reduced training costs and time 3. More routine purchasing, handling, and inspection procedures 4. Orders fillable from inventory 5. Opportunities for long production runs and automation 6. Need for fewer parts justifies expenditures on perfecting designs and improving quality control procedures Disadvantages 1. Designs may be frozen with too many imperfections remaining. 2. High cost of design changes increases resistance to improvements 3. Decreased variety results in less consumer appeal Mass Customization Strategy of producing standardized goods, but incorporating some degree of customization Delayed Differentiation Producing, but not finished until customer preference is known Reliability Ability of a product to perform its intended functions under a prescribed set of conditions Concurrent Engineering Bringing engineering design and manufacture personnel together in the early design phase Product Bundle Combo of goods/services Differences b/t service/product design 1. Products are generally tangible, services intangible 2. Services are created and delivered at the same time 3. Services cannot be inventoried 4. Services are highly visible to consumers 5. Some services have low barriers to entry and exit 6. Location is often important to service design, with convenience as a major factor 7. Service systems range from those with little or no customer contact to those that have a very high degree of customer contact 8. Demand variability alternately creates waiting lines or idle service resources ***Capacity Questions: What kind of capacity, how much is need, when? Design capacity Max output rate Effective capacity Design capacity minus allowances (time, maintenance, scrap) Actual Output Rate of output achieved, cant exceed effective capacity Strategy Formulation: Long-term demand patterns, technological change, competitor behavior - Dont update technology, it keeps upgrading, you will lose money - Long term considerations relate to overall level of capacity requirements - Short term considerations relate to variations in capacity requirements ***Service Capacity Planning Challenges: - The need to be near customers (Convenience) - The inability to store services (cant store it for later) - The degree of demand volatility (volume/timing of demand) (not as bad in the short run)

Capacity Strategies: Leading (build capacity in anticipation of future demands), Following (build capacity when demand exceeds current capacity), Tracking Developing Capacity Alternatives - Things that can be done to enhance capacity management - Design flexibility, take stage of life cycle into account, take a big picture approach to capacity changes, prepare to deal with capacity chunks, smooth capacity requirements, identify optimal operating level, choose strategy if expansion involved Bottleneck Operation Sequence of operations whose capacity is lower than that of the other operations Optimal Operating Level - Economies of Scale Output rate is less than optimal level, increasing output rate results in decreasing average per unit costs - Fixed costs spread over a larger number of units - Construction costs increase at decreasing rate as facility size increases - Processing costs decrease due to standardization - Diseconomies of Scale If output rate is more than optimal level, increasing output rate results in increasing avg per unit costs - Distribution costs increase cuz of traffic congestion and shipping from a centralized facility rather than multiple smaller facilities - Complexity, inflexibility, additional levels of bureaucracy Constraint Something that limits performance

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