Focusing Process Improvement


Few customers like to have to wait because your system is obviously not functioning effectively or a breakdown has occurred. Rightfully so, they view their time as valuable. It is unfair to expect them to patiently wait,. Such defects should be handled when the customer is not present. Service to the customer should be seamless. They should get great service and never have to worry about your problems or breakdowns in your process. When breakdowns do occur, they should be fixed quickly and the customer relationship smoothed over. Additionally, it is important that customers will react differently in different situations.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Risk and Opportunity


Risk and opportunity usually go hand in hand. This is terribly important to keep in mind when reviewing any business plan. It should be obvious that every plan involves some degree of risk. However, the degree of risk varies widely from plan to plan, and it is essential to ensure that the opportunity for reward is commensurate with degree of risk involved.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Mistake


The term mistake is used in contract law to describe the situation in which one or both of the parties to an agreement acted under an untrue belief about the existence or nonexistence of a material fact. In mistake cases, unlike fraud and misrepresentation cases where the victim is also acting under a mistaken belief about the facts, the mistaken belief about the facts is not the product of a misstatement by the other party. Mistaken in this sense does not include errors of judgment, ignorance, or a party’s mistaken belief that he or she will be able to fulfill certain obligations under a contract. The things that were said about materiality and fact in the law misrepresentation hold true in mistake cases.

In deciding mistake cases, courts often seem to be trying more obviously to do justice than in other kinds of cases. This is why decisions in mistake cases sometimes seem to depart from the announced rules of law dealing with mistake.

Mistake cases are classified as mutual or unilateral, depending on whether both or only one of the parties was acting under a mistaken belief about a material fact. Mutual mistake is always a basis for granting rescission of the contract at the request of either party. Clearly, no meeting of the minds took place and therefore no true contract was ever formed.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

A Line Organization


A line organization is one in which there are direct two-way lines of responsibility, authority, and communication running from the top to the bottom of the organization, with all people reporting to only one supervisor. The most obvious example is the army, which has a clear line of authority going from general to colonel to major to lieutenant to sergeant to corporal to private. A private reports to a corporal, the corporal to a sergeant, and so on back up to the generals. A line organization has the advantages of having clearly defined responsibility and authority, of being easy to understand, and of providing one supervisor for each person. The principles of good organizational design are met.

Disadvantages include for being too flexible, of having few specialists or experts to advise people along the line, of having lines of communication that are too long, and of being unable to handle the complex decisions involved in an organization with thousands of sometimes unrelated products and literally tons of paperwork.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Demand for Labor


Once an assessment of the organization’s current human resources situation has been made and the future direction of the organization has been considered, a proposition of future human resource needs can be developed. It will be necessary to perform a year-by-year analysis for every significant job level and type. In effect, the result is a human resource inventory covering specified years into the future. These pro-forma inventories obviously must be comprehensive and therefore complex. Organizations usually require a diverse mix of people. That’s because employees are not perfectly substitutable for one another within an organization.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Managerial Know-how


People who bring capital, labor, and resources together to fashion them into a productive organization that must face the risks of an uncertain world, occupy strategic positions. Thus, given the same inputs, presumably a country with superior management will do better than one with weak management. The importance of managerial know-how can be illustrated by the airlines industry.

Obviously an explanation of world business involves many elements. But with a basic understanding of the few elements, comparative advantage and specialization.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Online Consumer Marketing


Just as e-commerce is a major function of the Internet, online marketing is an integral component of e-commerce. Online marketing is inherently interactive marketing. While it obviously expands the reach of marketers in connecting with customers, to be effective it must be part of an overall marketing strategy before it can create value for customers. A point to remember is that just as quickly as a firm can rise to become a star in cyberspace, if not launched properly and operated efficiently, it can just as quickly burn out.

Consumers who shop online can point to a number of advantages to online marketing. The benefits online shoppers obtain from Web purchases fall into three categories: lower prices, convenience, and personalization. Marketers should ensure their Web sites offer consumers these basic advantages over traditional shopping in retail stores, by telephone, and by mail. In addition, Websites should be easy to navigate, offer security and privacy, and provide information that consumers can use in making product comparisons and purchase decisions.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Unique Superior Product


It is not enough to have good strategy, good management preparation, and a good organization. These will permit good new products management, but too often it just doesn’t happen. Why? If there is one reason above all others, if there is one concept that should be the last one violated, it is the commitment to producing a unique, superior product. Obviously, if things are well organized, if there are capable people doing the work, and if good process is used it probably will happen. But research shows that more products are lost to this factor than any other.

Note the two words—unique and superior. That means no me-too products, unless there is important uniqueness in the augmentation circle, such as service or warranty. But the more critical term is superior, and that means superior in benefit to the end user. Some phrases used by managers on this point are: “meets customer needs better,” “solves problems customers have with competitive productive,” and “has better value-in-use.”

Products are thought to fall when end users lack the problem the product solves, or the product doesn’t solve it, or the marketing (communication) fails to get the message across. These are all measurable, in advance, by three key tests in the recommended process. We can learn, for sure, whether our new item is unique, and whether it offers a superior solution to a problem the end user has.  Whether we know the product is superior is not as important as whether the customer knows. Superior products can fail if communication fails, even when the item is a piece of medical equipment.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Manufacturing Inventories


Manufacturing inventories depend on how much value has been incorporated by the firm:

  1. Raw materials
  2. Components/Subassemblies/Unfinished items
  3. Work-in-process
  4. End items/Finished goods

Raw materials are any inventories by a company which the company has not yet processed in any way. This would include such obvious raw materials as iron ore, sand or glass. However, by definition, it could include computer chips or other expensive items which have not yet been processed.

Components/Subassemblies/Unfinished items have been processed to some extent by the company, but are not yet finished. They may leave production area and be stored off the line, but will still not revert to being called raw material. They already have value added.

Work in process is similar to components, et al. it is actually a mixture of raw materials and components that are currently a part of the production process. So some raw materials may be part of work-in-process, and some components may not be.

Finished goods are simply goods which are finished and ready for sale. They are almost never left in the work area, but are moved out into final storage or packaging.

There is often some ambiguity about classification, since a company may sell some unpainted furniture but paint some for final sale. Is a given unpainted piece to be considered finished goods or not? Perhaps we need a new term for such goods.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

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