current trends - management
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CURRENT TRENDS IN
MANAGEMENT
Six SigmaKnowledge ManagementCorporate GovernanceIT Enabled ServicesMergers & AcquisitionsModern Trends in Manufacturing
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SIX SIGMA
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Six Sigma
Business Management strategy developed byMotorola , USA in 1981.
seeks to improve the quality of outputs byidentifying and removing the causes of defects(errors) and minimizing variability in manufacturingand business processes.
A six-sigma process is one in which 99.99966% ofthe products manufactured are statistically
expected to be free of defects (3.4 defects permillion).
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Six Sigma
Origin- as a set of practices to improvemanufacturing processes and eliminate defects.
Six Sigma was heavily inspired by precedingdecades of quality improvement methodologiessuch as quality control, TQM, and Zero Defects
A lot of businesses are looking for ways toimprove their staff training and Six SigmaCertification is one way that is gainingmomentum amongst business leaders.
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Six Sigma
uses quality management methods including statistical methods andcreates a special infrastructure of people within the organisation.
Implementation- Professionalization Of Quality management
Executive leadership ( vision for 6 sigma)
Champions ( implementation across organisation)
Master Black belts (assist champions. BB and BG- inhouse coaches
of 6 sigma)
Black belts ( 6 sigma application to specific projects- project execution)
Green belts ( employees)
WHY? 4,000 INCORRECT DRUG PRESCRIPTIONS PER YEAR or 13WRONG DRUG PRESCRIPTIONS PER YEAR
Other adopters- Honeywell & GE 2/3 of the fortune 500 companies
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KNOWLEDGE MANAGEMENT
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Meaning
Knowledge Management (KM) comprises arange of strategies and practices used in anorganization to identify, create, represent,distribute, and enable adoptionof insights and experiences. Such insights andexperiences comprise knowledge, either
embodied in individuals or embedded inorganizational processes or practice.
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Example
WORLD BANK
Amidst the World Bank's recent management brouhaha, a moresignificant event has gone overlookedthe bank's dramatictransformation from a hierarchical source of low-interest loans to adecentralized organization that uses knowledge-sharing technologies to
fight poverty and disease in developing nations. The enabler of thistransformation: the bank's overhaul of its antiquated I.T. infrastructureand construction of a truly global network.
PRATT & WHITNEY AIRLINES
Pratt & Whitney airline engines are constantly transmitting informationabout the status of their parts. Down on the ground, data recorders at
the manufacturer, which builds and maintains these engines for carrierssuch as Delta Air Lines and United Airlines, capture this information andcompare it to optimum levels in order to ensure the ongoing health ofthe engines. Streams of data are made available in a flash through a Webportal. But as the manufacturer found out, portals are only effective ifthey deliver something that users want.
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CORPORATE GOVERNANCE
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Meaning
Corporate governance is a term that refers broadly to the rules,
processes, or laws by which businesses are operated, regulated, andcontrolled. The term can refer to internal factors defined by theofficers, stockholders or constitution of a corporation, as well as toexternal forces such as consumer groups, clients, and government
regulations.
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Five Golden Rules
ethical approach
balanced objectives
each party plays his part
a decision-making process is in place
stakeholders are treated with equal concern
accountability and transparency
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Example Corporate Governance
Failures Enron corporation (us company)
Satyam
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IT ENABLED SERVICES
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IT enabled Services
The key IT enabled services are:
Call Centres
Electronic Publishing
Medical Transcription
Data Centres
GIS Mapping
Portals
ERP
Knowledge Management & Archiving
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Technologies Involved
For each service there are two types of technologiesinvolved:
Enabling technology
CommunicationThe enabling technologies are those technologieswhich allow the IT enablement. For e.g. in the call
centres they are ACD, CTI, CRM, etc.
The communications allows the IT service to bedelivered through a new channel Telephone, IP,VoiP,
Satellite based transmission, etc.
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IT Enabled Services
ACD-Database Systems Corp. (DSC) offers complete automatedcall distribution (ACD) software and systems for small to largeorganizations. Our ACD solutions support both digital and analogphone lines.
Database Systems Corp. (DSC) offers both computer telephonyphone servers (phone systems with computer telephony featuresthat take advantage of CTI) as well as CTI software that can beembedded in your computer applications.
CRM-Customer relationship management (CRM) is a widely-implemented strategy for managing a companys interactionswith customers, clients and sales prospects. It involves usingtechnology to organize, automate, and synchronize businessprocessesprincipally sales activities, but also those formarketing, customer service, and technical support.
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MODERN TRENDS INMANUFACTURING
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RECENT TRENDS IN MANUFACTURING
Just In Time (JIT) Inventory Management
High Speed Machining
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Need for HSM Development
1. To survive in the competitive market, it is necessary to use HSM inorder to reduce machining time and hence cost of production.
2. The newer materials such as composite materials, heat resistant
and stainless steel alloys, bimetals, compact graphite iron,hardened tool steels, aluminum alloys etc., needs this newmachining (HSM).
3. HSM offers high quality of products by avoiding manual finishingof dies or moulds with a complex 3-D geometry, aluminum thinwalled component machining etc.
4. HSM eliminates the number of setups and simplifies the flow ofmaterial, which can reduce considerably the manufacturingthroughput time.
5. HSM technique is one of the main methods in rapid productdevelopment.
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A FEW TECHNIQUES
Out sourcing
Quality Control using Bar code
Horizontal Assembly line
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MERGERS & ACQUISTIONS
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Mergers & Acquistions
To expand operations
To revive sick companies
To improve and share expertise that each ofthe company has
To cut costs of setting up a new company
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PRESENTED BYVIDYARICHA
ANUPAMAANUSHA TANUSHA D
Thank You