Based on Hill, T. Product design and process selection 3. The idea comes from the customers, competitor activity, and research and development department within an organization. Organization needs to understand customer expectations and if appropriate, manage those expectations by questionnaire, market research, customer trial experience.
Planning, organizing, leading and controlling POLC are the four basic processes or functions of management that constitute the entire work of management.
They are all essential parts of management. Planning involves setting objectives and deciding on actions to be taken to achieve these objectives.
It also establishes mission statement, defining the goals of the organization and determining the activities and resources required to achieve them. The managers should decide what to do, how to do it, when to do it and by whom it is to be done.
The process begins with environmental scanning which simply means that planners must be aware of the critical contingencies facing their organization in terms of economic conditions, competitors, and their customers.
Planners must then attempt to forecast future conditions. This forecast form the basis for planning and provides direction.
It reduces uncertainty while playing a major role in minimizing wastes, redundancy and risks. It also in a way sets the standard for controlling process. An organization first need to come up with a vision and mission statement this way the customer and the staff will know what to expect.
The vision statement communicates both the purpose and values of the organization. For employees, it gives direction about how they are expected to behave and inspires them to give their best.
Once the mission and vision statements put together the organization needs to figure out long term and short term goals for their business. The mission statement is the basis for all goals and plans outlined throughout the organization. Therefore, managers must use effective planning and goal-setting techniques to ensure that internal policies, roles, performances, structures, products, and expenditures are in line with the mission of the organization.
Planning involves decision making and choosing among alternative future courses of action. In lay mans terms it could be thought of as thinking before action. It also sets the standards for control. It provides rational and fact based procedure for Decision making.
Goals and plans can become the standard against which performance measurement can be done. Decision Making is defined as the selection of a course of action from among alternatives. It forms the core of the planning process. The evaluation of alternatives could be done based on the Marginal Analysis where the additional revenues arising from additional costs are compared or the Cost Effectiveness Analysis where objectives are less specific than sales, costs or profits.
Selection of an alternative is done based on experience, experimentation or research and analysis. There are many different types of plans and planning. It involves analyzing competitive opportunities and threats, as well as the strengths and weaknesses of the organization, and then determining how to position the organization to compete effectively in their environment.
Strategic planning has a long time frame, often three years or more. Strategic planning generally includes the entire organization and includes formulation of objectives.
It is intermediate-range one to three years planning that is designed to develop relatively concrete and specific means to implement the strategic plan. Middle-level managers often engage in tactical planning. It generally assumes the existence of organization-wide or subunit goals and objectives and specifies ways to achieve them.
Operational planning is short-range less than a year planning that is designed to develop specific action steps that support the strategic and tactical plans. Strategies refer to the determination of basic long term objectives and of courses of action and allocation of resources to achieve these aims.
Tactics are the action plans through which strategies are executed. Michael Porter identified three generic strategies that a firm can adopt: Setting objectives-This step involves management defining their goals. The characteristics of a well-designed goal can be stated as it should be specific, written in terms of actions, measurable and quantifiable; time bound.
Analysing the present situation and future opportunities- this is done by undertaking a SWOT strength, weaknesses, opportunities and threats analysis.
Developing and evaluating alternatives- This step involves management devising several plans on how to achieve their objectives. This may involve changing the way activities are undertaken in the organization. Monitoring and reviewing results-Management must monitor the results that their plan generates, and decide whether the plan they selected was successful.
If the plan is going well, management can revise the way they are conducting their activities so that they can see whether they can still make any improvements on their plan.Issuu is a digital publishing platform that makes it simple to publish magazines, catalogs, newspapers, books, and more online.
Easily share your publications and get them in front of Issuu’s. A Study on Honda- Operations Managment.
Hero Honda alphabetnyc.com Honda TQM. honda. Introduction to SIFE Vietnam_ Vietnamese. Project Samples. qa for business - cafe. Documents Similar To honda strategy presentation.
Supply Chain Management System of Honda Motors. Uploaded by. Somanna Muthanna.5/5(2). Introduction to Business Management, Edward Brown, , Business & Economics, pages.
INTRODUCTION TO BUSINESS MANAGEMENT- A HANDBOOK ADDRESSED PARTICULARLY TO. Compare the positions of Honda with Toyota. Why are they different, given same industry dynamics, similar external forces acting and same beginning time periods.
Q4. Contact Honda auto financing for information on buying or leasing a new or Honda Certified Pre-Owned Vehicle. Traditionally, the term "management" refers to the activities involved in the four general functions: planning, organizing, leading and coordinating of resources.
Note that the four functions recur throughout the organization and are highly integrated. This topic shares guidelines and resources to.