Intro to the Principles of Management

Chapter

  • 6

    Chapter 6

    This chapter explains what kind of market structures exist and how they affect consumers and competitors.

    Estimated time: ~46 Minutes
  • 7

    Chapter 7

    This chapter provides readers with an understanding of different ways to analyze information in order to form an effective business strategy.

    Estimated time: ~21 Minutes
  • 8

    Chapter 8

    This chapter looks at some of the reasons and motivators behind managerial decision making, as well as the ways managers ultimately reach decisions.

    Estimated time: ~31 Minutes
  • 9

    Chapter 9

    This chapter discusses operations, types of operational setups, and quantitative metrics for assessing their performance.

    Estimated time: ~42 Minutes
  • 10

    Chapter 10

    This chapter looks at techniques to improve operations.

    Estimated time: ~16 Minutes
  • 11

    Chapter 11

    This chapter looks at ways to encourage business productivity and manage for innovation.

    Estimated time: ~37 Minutes
  • 12

    Chapter 12

    This chapter introduces financial concepts and metrics that can be used to analyze the financial performance of a company.

    Estimated time: ~53 Minutes
  • Exam

    Locked

    You must complete all chapters before taking the course exam.

- of 13

Concept

  • 1

    Concept 1

    An overview of strategic planning is presented.

    Estimated time: ~6 Minutes
  • 2

    Concept 2

    Total Quality Management (TQM) , is a framework to improve innovation and process within an organization.

    Estimated time: ~5 Minutes
  • 3

    Concept 3

    Cross functional teams are a useful structure for tackling problems that need innovative solutions.

    Estimated time: ~12 Minutes
  • 4

    Concept 4

    The balanced scorecard is a tool to help improve employees among many facets.

    Estimated time: ~0 Minutes
  • Test

    Chapter 11 Test

    Take the chapter 11 test and unlock the Managing Improvement and Innovation badge.


Concept 2: TQM

Total Quality Management (TQM) , is a framework to improve innovation and process within an organization.

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From http://deming.org/index.cfm?content=66 (open source in a new window)
Read the following concept:

Deming's 14 Points:

1. Create constancy of purpose toward improvement of product and service, with the aim to become competitive and to stay in business, and to provide jobs.
2. Adopt the new philosophy. We are in a new economic age. Western management must awaken to the challenge, must learn their responsibilities, and take on leadership for change.
3. Cease dependence on inspection to achieve quality. Eliminate the need for inspection on a mass basis by building quality into the product in the first place.
4. End the practice of awarding business on the basis of price tag. Instead, minimize total cost. Move toward a single supplier for any one item, on a long-term relationship of loyalty and trust.
5. Improve constantly and forever the system of production and service, to improve quality and productivity, and thus constantly decrease costs.
6. Institute training on the job.
7. Institute leadership (see Point 12 and Ch. 8). The aim of supervision should be to help people and machines and gadgets to do a better job. Supervision of management is in need of overhaul, as well as supervision of production workers.
8. Drive out fear, so that everyone may work effectively for the company (see Ch. 3).
9. Break down barriers between departments. People in research, design, sales, and production must work as a team, to foresee problems of production and in use that may be encountered with the product or service.
10. Eliminate slogans, exhortations, and targets for the work force asking for zero defects and new levels of productivity. Such exhortations only create adversarial relationships, as the bulk of the causes of low quality and low productivity belong to the system and thus lie beyond the power of the work force.

* Eliminate work standards (quotas) on the factory floor. Substitute leadership.
* Eliminate management by objective. Eliminate management by numbers, numerical goals. Substitute leadership.

11. Remove barriers that rob the hourly worker of his right to pride of workmanship. The responsibility of supervisors must be changed from sheer numbers to quality.
12. Remove barriers that rob people in management and in engineering of their right to pride of workmanship. This means, inter alia, abolishment of the annual or merit rating and of management by objective (see Ch. 3).
13. Institute a vigorous program of education and self-improvement.
14. Put everybody in the company to work to accomplish the transformation. The transformation is everybody's job.

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Concept 2: TQM