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