Monday 15 December 2014

Values in Managements..

VALUES


Beliefs that guide an individual’s actions. Values are applicable to individuals and institutions, both business and non-business.

Value in Managements
Value in Managements

Characteristics of values


  • Human values are social and ethical norms common to all cultures, societies and religions.
  • Synthesis of social progress, justice and spiritual growth.
  • Principles that people cherish as they enhance the quality of individual and collective life.
  • Guiding force to take specific decisions in specific societal issues.
  • Refer to intrinsic worth or goodness.
  • Transform the level of consciousness to purer, higher levels.
  • Basis of prolonged success of every human being. Powerful source to affect behavior.
  • Dynamic and change with changing times.
  • Concerned with internal development of the person, purifying mind and heart. 
  • Cultivate love and understanding.
  • Provide the standard of morality.
  • Help people in deciding what right or desirable.

Types of Values

According to "Albert Schweitzer" there are three type of Values :
  1. Operative Values : Depend on people preferences for action and objects.
  2. Conceived Values: Value choices made in anticipation of the outcome, of the chose behavior.
  3. Objective Values: Choices which are objective desirable not sensed as advantageous to the person nor are they conceived as symbolically desirable. 
According to  "M. Rokeach" there are two type of Values :
  1. Terminal Values: Values that person wants to achieve during his life time. Purpose of a person’s existence.
  • Happiness and satisfaction in life.
  • Knowledge and wisdom.
  • Peace and harmony in the world.
  • Pride in accomplishment.
  • Prosperity, wealth.
  • Lasting friendship.
  • Recognition from peer.  
  • Salvation, finding eternal life.
  • Security, freedom from threat.
     2.  Instrumental Values:Means for achieving the desired results. Or means of achieving the terminal values.
  • Assertiveness, standing up for yourself.
  • Being helpful or caring towards others.
  • Dependability being counted upon by others.
  • Education and intellectual pursuits.
  • Hard work and achievement.
  • Obedience, following the wishes of others.
  • Open mindedness, receptivity to new ideas.
  • Self-sufficiency, independence.
  • Truthfulness, honesty.
  • Being well mannered and courteous towards others.

 Factors Affecting Values

  • Institutions
  • Family  
  • Religious institution, schools, state, cultural and social institutions.
  • Organizational Values (organization where an individual works.)
  • Peers and Colleagues.
  • Situational Factors
  • Personal Factors: Such as ability, intelligence, education level and other aspects also determine an individual’s values.

Values and Behavior

Values become a part of our behavior and personality. How good an organizational is depends upon how good are the people who are managing it. Good people are those whose actions and behavior are based on a sound value is system and ethical principles. Values lay the foundation for organizational success. They develop the attitudes. Perceptions and motives that shape the behavior of individuals working in the organization.
 In the business world, value based behavior can be observed in the following spheres:
  • Finance and Accounting
  • Values of human management
  • Sales and Marketing
  • Production
  • Intellectual Property, Knowledge and Skills
  • International Business
  • Developing Values System in an Organization.

Values in Business

There are many ways in which the basic human values – truth, righteousness, peace, love and non-violence – can be practiced in the day-to-day conduct of business. With the cardinal values of Satya, Dharma, Santhi, Prema and Ahinsa

Honesty in Business is a form of Social Service
  • Truthful
  • Integrity 
  • Honestly
  • Social service 
  • Peace

Objective of Value-based Management

  • Optimum decisions
  • Ensure long-run survival of the Business
  • Develop credibility amongst stakeholders
  • Builds confidence amongst shareholders and they provide sufficient funds to the company.
  • Builds confidence amongst employees.
  • Creates a positive image of the company in the society.
  • Develops managers skills to manage effectively








What Is Personal Growth ?

Personal growth means enhancement of self esteem of a person. Applying a rational approach to one’s thinking, involvement through in depth understanding, and enrichment of life and reinforcement of value systems. Growth of a person today is manifested in rich heritage of ancient education system: mathematics, economics, astronomy, medicine etc.

Personal growth results in progress. “Change is not progress”, but progress is change”. It means a longer and better quality of larger proportion of people.

Meaning of Progress in personal growth

Meaning of Progress

People realize progress when change results in any of these aspects: longer lives, decrease in infant mortality, decrease in morbidity, increase in people’s options, greater quality, more freedom or reduction in fear of other people or of their own rulers. Improved life expectancy.
Progress has many aspects: professional, business, personal. Progress is sure if one sets the goals and works with what one has.

What is Computer Network?

Computer Network

Computer network means an interconnected collection of computers (or multiple processors software & hardware) such that they can:
Exchange information, Sharing resources each other
Examples:
Internet
Cellular Network

Key Issues For Computer Network


The following are the major key issues Computer Network:

Nature of Nodes: Whether participating nodes are homogeneous or heterogeneous in nature?

Topology: Which of the computer topology has to be followed? Computer topology accounts for the physical arrangement of participating computers in the network.

Interconnection Type: Whether interconnection type is point-to-point, multi-point, or broadcast type.

Reliability: 

How reliable our network is? Reliability aspect includes error rate, redundancy and recovery procedures.

Channel Capacity Allocation:Whether allocation of channel capacity is time-division or frequency division?
Routing Techniques: Whether message between nodes are to be routed through: Deterministic, Stochastic, and Distributed routing techniques?
Models: Which of the models i.e. analytical models, Queuing models, Simulation models, Measurement and Validation models are applicable?
Channel Capacity: What are the channel capacities of the communication lines connecting nodes?
Access: Whether computer access in the network is direct-access or through a sub-network?
Protocols: What levels, standards and formats are to be followed while establishing communication between participating nodes?
Performance: How is higher performance of computer network achieved? Response time, time to connect, resource utilization, etc. contribute towards performance of computer network.
Control: Whether centralized control, distributed control or hierarchical control of participating nodes of computer network is suitable?


Tag : Computer Network, 

Saturday 13 December 2014

What is Computer Networking ?

Networking is the concept of sharing resources and services. A network of computers is a group of interconnected systems sharing resources and interacting using a shared communications link (see Figure). A network, therefore, is a set of interconnected systems with something to share. The shared resource can be data, a printer, a fax modem, or a service such as a database or an email system. The individual systems must be connected through a pathway (called the transmission medium) that is used to transmit the resource or service between the computers. All systems on the pathway must follow a set of common communication rules for data to arrive at its intended destination and for the sending and receiving systems to understand each other. The rules governing computer communication are called protocols.
In summary, all networks must have the following:
A resource to share (resource)
A pathway to transfer data (transmission medium)
A set of rules governing how to communicate (protocols)

Fig: In its simplest form, a computer network is a two or more computer sharing
information across a common transmission medium.
Having a transmission pathway does not always guarantee communication. When two entities communicate, they do not merely exchange information; rather, they must understand the information they receive from each other. The goal of computer networking, therefore, is not simply to exchange data but to understand and use data received from other entities on the network.
An analogy is people speaking (See Figure), just because two people can speak, it does not mean they automatically can understand each other. These two people might speak different languages or interpret words differently. One person might use sign language, while the other uses spoken language. As in human communication, even though you have two entities that "speak," there is no guarantee they will be able to understand each other. Just because two computers are sharing resources, it does not necessarily mean they can communicate.
Because computers can be used in different ways and can be located at different distances from each other, enabling computers to communicate often can be a daunting task that draws on a wide variety of technologies.



Figure: Human communication is like a network

The two main reasons for using computer networking are to provide services and to reduce equipment costs. Networks enable computers to share their resources by offering services to other computers and users on a network. The following are specific reasons for networking PCs:
  • Sharing files
  • Sharing printers and other devices
  • Enabling centralized administration and security of the resources within the system
  • Supporting network applications such as electronic mail and database services











Monday 17 October 2011

WHAT IS PRODUCT HIERARCHY ?

PRODUCT HIERARCHY


Each product is related to certain other products. The product hierarchy stretches from basic needs to particular items that satisfy those needs. We can identify six levels of the product hierarchy (here for life insurance):

1.  Need family: 

The core need that underlies the existence of a product family. Example: security.

2.  Product family:

All the product classes that can satisfy a core need with reasonable effectiveness, Example: savings and income.

3. Product class:

A group of products within the product family recognized as having a certain functional' coherence. 'Example: financial instruments.

4. Product Line: 

A group of products within a product class that are closely related because they perform similar function, are sold to the same customer groups are marketed through the same channels, or fall with in given price ranges. Example: life insurance.

5. Product type:

A group of items within a product line that share one of several possible forms of the product. Example: term life.

6. Item 

(also called stock-keeping unit or product variant); A distinct unit within a brand or product line distinguishable by size, price, appearance, or some other attribute. Example: Prudential renewable term life insurance.

 A product system is a group of diverse but related items that function in a compatible manner. For example, the Handspring personal digital assistant comes with attachable Visor products including a phone, radio, pager, video games, e-books, MP3 player, digital camera, and voice recorder.

A product mix is the set of all products and items that a particular seller offers for sale to buyers.


Tag: product hierarchy

WHAT IS PRODUCT CLASSIFICATIONS ?

PRODUCT CLASSIFICATIONS

Marketers have traditionally classified products on the basis of characteristics: durability, tangibility, and use (consumer or industrial). Each product type has an appropriate marketing-mix strategy.

DURABILITY AND TANGIBILITY

Products can be classified into three groups, according to durability and tangibility:


1. Non durable goods

Non-durable goods are tangible goods normally consumed in one or a few uses, like beer and soap. Because these goods are consumed quickly and purchased frequently, the appropriate strategy is to make them available in many locations charge only a small markup, and adver­tise heavily to induce trial and build preference

2. Durable goods: 

Durable goods are tangible goods that normally survive many uses: refrigerators, machine tools and clothing. Durable products normally require more personal selling and service, command a higher margin and require more seller guarantees.

3. Services:

 Services are intangible, inseparable, variable, and perishable products. As a result, they nor­mally require more quality control, supplier credibility, and adaptability. Examples include haircuts and repairs.


CONSUMER-GOODS Classification: 


Goods can be classified on the basis of shopping habits. We can distinguish among convenience, shopping, specialty, and unsought goods.

Convenience goods: 

Convenience goods are those the customer usually purchases frequently, immediately, and with a minimum of effort. Examples include tobacco products, soaps, and newspaper. Convenience goods can be further divided.

Staple Goods 

Staple Goods are the goods consumers purchase on a regular basis. A buyer might routinely purchase Kissan ketchup, Colgate toothpaste, and Lux soap.

Impulse goods

Impulse goods are purchased without any planning or search effort. Candy bars and magazines are impulse goods. Emergency goods: Emergency goods are pur­chased when a need is urgent-umbrellas during a rainstorm, boots and shovels during the first winter snowstorm. Manufacturers of emergency goods will place them in many outlets to capture the sale.
Shopping goods are goods that the customer, in the process of selection and purchase, characteristically compares on such bases as suitability, quality price, and style. Examples include furniture, clothing, used cars; arid major appliance-Shopping goods can be further divided.
Homogeneous shopping Homogeneous shopping goods are similar in quality but different enough in price to justify shopping comparisons. Heterogeneous shopping: Heterogeneous shopping goods differ in product features and services that may be more important than price. The seller of heterogeneous shopping goods carries a wide assortment to satisfy individual tastes and must have well-trained salespeople to inform and advise customers.

Specialty goods:

Specialty goods have unique characteristics or brand identification for which a suf­ficient number of buyers are willing to make a special purchasing effort. Examples include cars, stereo components, photographic equipment, and men's suits. A Mercedes is a specialty good because interested buyers will travel far to buy one. Specialty goods do not involve making comparisons; buyers invest time only to reach dealers carrying the wanted products. Dealers do not need convenient locations; however, they must let prospective buyers know their locations.

Unsought goods 

Unsought goods are those the consumer does not know about or does not normally think buying, like smoke detectors. The classic examples of known but unsought goods are life insurance, cemetery plots, gravestones and encyclopedias. Unsought goods require advertising and personal-selling support.



INDUSTRIAL-GOODS CLASSIFICATION: 


Industrial goods can be classified in terms of how they enter the production process and their relative costliness. We can distinguish three groups of industrial goods: materials and parts, capital items, and supplies and busi­ness services. Materials and parts are goods that enter the manufacturer's product completely fall into two classes: raw materials and manufactured materials and parts:
Raw materials Raw materials fall into two major classes:
a) Farm products (e.g., wheat, cotton, livestock, fruits, and vegetables) b) Natural products (e.g., fish, lumber, crude petroleum, iron ore )  
These are supplied by many producers, who turn them over to marketing intermediaries, who provide assembly, grading, storage, transportation, and selling services. Their perishable and seasonal nature gives rise to special marketing practices. Their commodity character results in relatively little advertising and promotional activity, with some exceptions. At times, commodity groups will launch campaigns to promote their product-potatoes, prunes, milk.
Natural products are limited in supply. They usually have great bulk and low unit value and must be moved from producer to user. Fewer and larger producers often market them directly to industrial users. Because the users depend on these materials, long-­term supply contracts are common. The homogeneity of natural materials limits the amount of demand-creation activity. Price and delivery reliability are the major factors influencing the selection of suppliers.

Manufactured materials and parts fall into two categories: 

component materials (iron, yarn, cement, and wires) and component parts (small motors, tires, castings) Component materials are usually fabricated further-pig iron is made into steel, and yam is woven into cloth. The standardized nature of component materials usually means that price and supplier reliability are key purchase factors. Component parts enter the finished product with no further change in form, as when small motors are put into vacuum cleaners, and tires are put on automobiles. Most manufactured materials and parts are sold directly to industrial uses. Price and service are major marketing considerations, and branding and advertising tend to be less important.

Capital items 

Capital items are long-lasting goods that facilitate developing or managing the finished product. They include two groups:

Installations.

 Installations consist of buildings (factories, offices) and equipment (generators, drill presses, mainframe computers, elevator installations are major purchases. They are usually bought directly from the producer. The producer's sales force includes technical personnel. Producers have to be willing to design to specification and supply post sale services. Advertising is much less important than personal selling

Equipment: 

equipment comprises portable factory equipment and tools (hand tools, lift trucks) an office equipment (personal computers, desk) these types of equipment do not become part of a finished product. They have a shorter life than installations but a longer life than operating supplies. Some equipment manufacturers sell direct, more often they use intermediaries, because the market is geographically dispersed, the buyers are numerous, and the orders are small. Quality, features, price, and service are major considerations. The sales force tends to be more important than advertising, although the latter can be used effectively.      

Supplies and business services are short-lasting goods and services that facilitate developing or managing the finished product. Supplies are of two kinds: maintenance and repair items (paint, nails, brooms), and operating supplies (lubricants, coal, writing paper, pencils) together, they go under the name of MRO goods. Supplies are the equivalent of convenience goods; they are usually purchased with minimum effort on a straight rebury basis. They are normally marketed through intermediaries because of their low unit value and the great number and geographic dispersion of customers. Price and service are important considerations, because suppliers are standardized and brand preference is not high.
Business services include maintenance and repair services (window cleaning, copier repair) and business advisory services (legal, management consulting, and advertising) L Maintenance and repair services are usually supplied under contract by small producers or are available from the manufacturers of the original equipment. Business advisory services are usually purchased on the basis of the supplier's reputation and staff.

WHAT IS PRODUCT MIX ?

PRODUCT MIX

The product mix (also called product assortment)  is the complete set of all products offered for sale by a company. Kodak's product mix consists of two strong product lines: information products and image products. HLL product mix consists of all product line like detergent, soaps, cooking medium.
A company's product mix has a certain width, length, depth, and consistency.
§  The width of a product mix denotes the number of product lines in the product mix.

§  The length of a product mix refers to the total number of items in the mix. We can also talk about the average length of a line. This is obtained by dividing the total length (here 25) by the number of lines (here 5), or an average product length of 5.

§  The depth of a product mix refers to how many variants are offered of each product in the line.

§  The consistency of the product mix refers to how closely related the various product line are in end use, production requirements, distribution channels, or some other way:) P&G's product lines are consistent insofar as they are consumer goods that go through the same distribution channels. 
                              The lines are less consistent insofar as they perform different functions for the buyers.These four product-mix dimensions permit the company to expand its business in four ways. It can add new product lines, thus widening its product mix. It can lengthen each product line. It can add more product variants to each product and deepen its product mix. Finally, a company can pursue more product-line consistency.