Management in all business and organizational activities is the act of coordinating the

efforts of people to accomplish desired goals and objectives using available resources
efficiently and effectively. Management comprises planning, organizing, staffing, leading
or directing, and controlling an organization (a group of one or more people or entities) or
effort for the purpose of accomplishing a goal. Resourcing encompasses the deployment
and manipulation of human resources, financial resources, technological resources, and
natural resources.
Since organizations can be viewed as systems, management can also be defined as human
action, including design, to facilitate the production of useful outcomes from a system.
This view opens the opportunity to 'manage' oneself, a prerequisite to attempting to
manage others.

Functions of Management
Management has been described as a social process involving responsibility for
economical and effective planning & regulation of operation of an enterprise in the
fulfillment of given purposes. It is a dynamic process consisting of various elements and
activities. These activities are different from operative functions like marketing, finance,
purchase etc. Rather these activities are common to each and every manger irrespective of
his level or status.
Different experts have classified functions of management. According to George & Jerry,
“There are four fundamental functions of management i.e. planning, organizing, actuating
and controlling”. According to Henry Fayol, “To manage is to forecast and plan, to
organize, to command, & to control”. Whereas Luther Gullick has given a keyword
’POSDCORB’ where P stands for Planning, O for Organizing, S for Staffing, D for
Directing, Co for Co-ordination, R for reporting & B for Budgeting.

1. Planning
It is the basic function of management. It deals with chalking out a future course
of action & deciding in advance the most appropriate course of actions for
achievement of pre-determined goals. According to KOONTZ, “Planning is
deciding in advance - what to do, when to do & how to do. It bridges the gap from
 where we are & where we want to be”. A plan is a future course of actions. It is an
exercise in problem solving & decision making. Planning is determination of
courses of action to achieve desired goals. Thus, planning is a systematic thinking
about ways & means for accomplishment of pre-determined goals. Planning is
necessary to ensure proper utilization of human & non-human resources. It is all
pervasive, it is an intellectual activity and it also helps in avoiding confusion,
uncertainties, risks, wastages etc.
2. Organizing
It is the process of bringing together physical, financial and human resources and
developing productive relationship amongst them for achievement of
organizational goals. According to Henry Fayol, “To organize a business is to
provide it with everything useful or its functioning i.e. raw material, tools, capital
and personnel’s”. To organize a business involves determining & providing
human and non-human resources to the organizational structure. Organizing as a
process involves:
 Identification of activities.
 Classification of grouping of activities.
 Assignment of duties.
 Delegation of authority and creation of responsibility.
 Coordinating authority and responsibility relationships.
3. Staffing
It is the function of manning the organization structure and keeping it manned.
Staffing has assumed greater importance in the recent years due to advancement
of technology, increase in size of business, complexity of human behavior etc.
The main purpose o staffing is to put right man on right job i.e. square pegs in
square holes and round pegs in round holes. According to Kootz & O’Donell,
“Managerial function of staffing involves manning the organization structure
through proper and effective selection, appraisal & development of personnel to
fill the roles designed un the structure”. Staffing involves:
 Manpower Planning (estimating man power in terms of searching,
choose the person and giving the right place).
 Recruitment, Selection & Placement.
 Training & Development.
 Remuneration.
 Performance Appraisal.
 Promotions & Transfer.
4. Directing
It is that part of managerial function which actuates the organizational methods to
work efficiently for achievement of organizational purposes. It is considered life-
spark of the enterprise which sets it in motion the action of people because
planning, organizing and staffing are the mere preparations for doing the work.
Direction is that inert-personnel aspect of management which deals directly with
influencing, guiding, supervising, motivating sub-ordinate for the achievement of
organizational goals. Direction has following elements:
 Supervision
  Motivation
 Leadership
 Communication
Supervision- implies overseeing the work of subordinates by their superiors. It is
the act of watching & directing work & workers.
Motivation- means inspiring, stimulating or encouraging the sub-ordinates with
zeal to work. Positive, negative, monetary, non-monetary incentives may be used
for this purpose.
Leadership- may be defined as a process by which manager guides and
influences the work of subordinates in desired direction.
Communications- is the process of passing information, experience, opinion etc
from one person to another. It is a bridge of understanding.
5. Controlling
It implies measurement of accomplishment against the standards and correction of
deviation if any to ensure achievement of organizational goals. The purpose of
controlling is to ensure that everything occurs in conformities with the standards.
An efficient system of control helps to predict deviations before they actually
occur. According to Theo Haimann, “Controlling is the process of checking
whether or not proper progress is being made towards the objectives and goals and
acting if necessary, to correct any deviation”. According to Koontz & O’Donell
“Controlling is the measurement & correction of performance activities of
subordinates in order to make sure that the enterprise objectives and plans desired
to obtain them as being accomplished”. Therefore controlling has following steps:

a. Establishment of standard performance.

b. Measurement of actual performance.
c. Comparison of actual performance with the standards and finding out
deviation if any.
d. Corrective action.

ETHICS IN MANAGEMENT

INTRODUCTION-
Every day, managers and employees need to make decisions that have moral
implications. And those decisions impact their companies, company shareholders, and all
the other stakeholders in interest. Conducting business in an ethical manner is incumbent
upon everyone in an organization for legal and business reasons. And as a manager, it’s
important to understand your ethical obligations so that you can meet your company’s
expectations as well as model appropriate behavior for others.
Ethics are the set of moral principles that guide a person's behavior. These morals are
shaped by social norms, cultural practices, and religious influences. Ethics reflect beliefs
about what is right, what is wrong, what is just, what is unjust, what is good, and what is
bad in terms of human behavior. They serve as a compass to direct how people should
behave toward each other, understand and fulfill their obligations to society, and live their
lives.
Managerial ethics are a set of standards that dictate the conduct of a manager operating
within a workplace.
In the wake of corporate scandals over the past several years, most organizations have
written or updated their Codes of Conduct and Ethics Rules. The first thing a manager
should do is to read and understand those documents. That means understanding the
actual words used in the documents along with the spirit and intent behind the words. The
second thing to do is to be sure that your staff also reads and understands the documents
and can come to you with any questions.
When engaging in business management and activities, ‘Ethics’ is placed as top priority.
All standards for businesses are based on
‘Ethical Standards’ for transparent, fair, logical operations. Keeping the ethical standards
means that the company’s decision making is not
only based on economical principals, but also on the premise of ethical judgments
including transparent accounting, fair terms, legal
tax-paying, environment protection to abide by the standards fairly and uprightly, stricter
than the law or government regulations.
Thus, ethical management is what CEOs and executives should implement when
engaging in business activities.
Boundaries
There are no legal rules or laws that are directed specifically at managers. Instead, an
ethics code is assembled by a company to guide its managers. Such a code of conduct
typically references shared values, principles and company policies about basic conduct
and outlines the duties a manager has to his employees, the company and the company's
stakeholders. Although not enforceable by law, managers who consistently ignore certain
company ethics may be asked to step down, be moved into another position or fired

Examples
Managerial ethics usually address two separate areas: principles and policies. Principle-
based ethics outline what is considered fair and ethical in the scope of the workplace and
might include information about departmental boundaries or use of company equipment.
Policy-based managerial ethics refer to conflicts of interest, the right response to gifts
from vendors or business partners, or the handling of proprietary information.
Violations
The need to reference managerial ethics arises when a conflict of values is presented.
Enron is a perfect example of a violation of managerial ethics. Although it was not illegal
for Enron's executive managers to encourage employees to purchase shares of company
stock the managers knew would drop in value once Enron's financial trouble was
revealed, it was clearly a violation of ethical standards the managers where bound to
regarding the treatment and protection of employees. Acting in their own interests, the
executives violated basic managerial ethics.
Establishing
Managerial ethics help to guide decision making and regulate internal and external
behavior. Ethical dilemmas typically arise from a conflict between an individual or group
and the company, division or department as a whole. Companies establishing a set of
values and norms that are acknowledged by managers and consistently referenced during
the work day have created an ethical platform by which managers can operate and make
decisions. Training managers on the specifics of managerial ethics by role play, case
study and group discussion may set the stage for ethical behavior

Keypoints:
• Managers hold positions of authority that make them accountable for the ethical conduct
of those who report to them.
• Managers monitor the behavior of employees in accordance with the organization's
expectations of appropriate behavior, and they have a duty to respond quickly and
appropriately to minimize the impact of suspected ethical violations.

• Managers may be responsible for creating and/or implementing changes to the ethical
codes or guidelines of an organization.

• Managers may also be subject to a particular code of professional ethics, depending on

their position and training. Fiduciary duty is an example that applies to some managerial
roles.

Unfair Trade Practice and Restrictive Trade Practice

According to the provisions of the Consumer Protection Act, 1986 ‘unfair trade
practice’ means a trade practice which, for the purpose of promoting the sale, use or
supply of any goods or for the provision of any service, adopts any unfair method or
unfair or deceptive practice including the practice of making any statement, whether
orally or in writing or by visible representation which falsely represents that the goods
are of a particular standard, quality, quantity, grade, composition, style or model;
falsely represents that the services are of a particular standard, quality or grade; falsely
represents any re-built, second-hand, renovated, reconditioned or old goods as new
goods; makes a false or misleading representation concerning the need for, or the
usefulness of, any goods or services etc. permits the publication of any advertisement
whether in any newspaper or otherwise, for the sale or supply at a bargain price, of
goods or services that are not intended to be offered for sale or supply at the bargain
price.

‘Bargaining price’ has been defined as a price that is stated in any advertisement to be
a bargain price, by reference to an ordinary price or otherwise, or a price that a person
who reads, hears or sees the advertisement, would reasonably understand to be a
bargain price having regard to the prices at which the product advertised or like
products are ordinarily sold.

The Act defines ‘restrictive trade practice’ as a trade practice which tends to bring
about manipulation of price or conditions of delivery or to affect flow of supplies in
the market relating to goods or services in such a manner as to impose on the
consumers unjustified costs or restrictions and shall include delay beyond the period
agreed to by a trader in supply of such goods or in providing the services which has led
or is likely to lead to rise in the price; any trade practice which requires a consumer to
buy, hire or avail of any goods or services as condition to buying, hiring or availing of
other goods or services.

Unfair Trade Practice In India

The Constitution of India, in its essay in building up a just society, has mandated the State
to direct its policy towards securing that end. Article 38 and 39 of the Constitution of
India, which are part of the Directive Principles of State Policy, mandate the state to
direct its policy towards securing: that the ownership and control of material resources of
the community are so distributed as to best sub serve the common good; and that the
operation of the economic system does not result in concentration of wealth and means of
production to the common detriment.

Accordingly, after independence, the Indian Government assumed increased

responsibility for the overall development of the country. Government policies were
framed with the aim of achieving a socialistic pattern of society that promoted equitable
distribution of wealth and economic power.
However, even as the economy grew over the years after independence, there was little
evidence of the intended trickle-down. Concerned with this, the Government appointed a
Committee on Distribution of Income and Levels of Living in October 1960.
The Committee noted that big business houses were emerging because of the “planned
economy” model practiced by the Government and recommended looking at industrial
structure, and whether there was concentration. Subsequently, the Government appointed
the Monopolies Inquiry Commission (MIC) in April 1964, which reported that there was
high concentration of economic power in over 85 percent of industrial items in India.

Unfair Trade Practices In Management

An unfair trade practice means a trade practice, which, for the purpose of promoting any
sale, use or supply of any goods or services, adopts unfair method, or unfair or deceptive
practice.
Unfair practices may be categorized as under:

 False Representation: The practice of making any oral or written statement or

representation which:
• Falsely suggests that the goods are of a particular standard quality, quantity,
grade, composition, style or model;
• Falsely suggests that the services are of a particular standard, quantity or grade;
• Falsely suggests any re-built, second-hand renovated, reconditioned or old goods
as new goods;
• Represents that the goods or services have sponsorship, approval, performance,
characteristics, accessories, uses or benefits which they do not have;
• Represents that the seller or the supplier has a sponsorship or approval or
affiliation which he does not have;
• Makes a false or misleading representation concerning the need for, or the
usefulness of, any goods or services;
• Gives any warranty or guarantee of the performance, efficacy or length of life of
the goods, that is not based on an adequate or proper test;
• Makes to the public a representation in the form that purports to be-
a) a warranty or guarantee of the goods or services,
b) a promise to replace, maintain or repair the goods until it has achieved a specified
result,
if such representation is materially misleading or there is no reasonable prospect that such
warranty, guarantee or promise will be fulfilled
• Materially misleads about the prices at which such goods or services are available
in the market; or
• Gives false or misleading facts disparaging the goods, services or trade of another
person.
 False Offer of Bargain Price: Where an advertisement is published in a newspaper
or otherwise, whereby goods or services are offered at a bargain price when in fact
there is no intention that the same may be offered at that price, for a reasonable period
or reasonable quantity, it shall amount to an unfair trade practice.
The ‘bargain price’, for this purpose means-
a. the price stated in the advertisement in such manner as suggests that it is lesser
than the ordinary price, or
b. the price which any person coming across the advertisement would believe to be
better than the price at which such goods are ordinarily sold.

 Gifts Offer and Prize Schemes:The unfair trade practices under this category are:
• Offering any gifts, prizes or other items along with the goods when the real
intention is different, or
• Creating impression that something is being offered free alongwith the goods,
when in fact the price is wholly or partly covered by the price of the article sold, or
• Offering some prizes to the buyers by the conduct of any contest, lottery or game
of chance or skill, with real intention to promote sales or business.

 Non-Compliance of Prescribed Standards:

Any sale or supply of goods, for use by consumers, knowing or having reason to believe
that the goods do not comply with the standards prescribed by some competent authority,
in relation to their performance, composition, contents, design, construction, finishing or
packing, as are necessary to prevent or reduce the risk of injury to the person using such
goods, shall amount to an unfair trade practice.
 Hoarding, Destruction, Etc.
Any practice that permits the hoarding or destruction of goods, or refusal to sell the goods
or provide any services, with an intention to raise the cost of those or other similar goods
or services, shall be an unfair trade practice.

STRATEGIC AND TECHNOLOGY AND MANAGEMENT

Strategic management is well-organized approach that is based on effective principles and
process of management to recognize the corporate objective or mission of business. It
establishes suitable target to assure the objective, identify existing opportunities and
restraints in the environment, and develop a logical realistic process to accomplish
company objective. Strategic management is both the process and beliefs to determine
and control the organizational affiliation in its vibrant environment. It is a process to
describe approaches and procedures to help management become accustomed to the
current business environment through the use of objectives and strategies. As a
philosophy, it changes the viewpoint of manager to deal with competitors, customers,
markets and even the organization itself. Its purpose is to motivate management's
wakefulness of the strategic implication of environmental events and internal decision.

Theoretical Review: Strategic management in literature is thoroughly described by

several theorists. In the beginning of 1980, Glueck (1984) explained Strategic
Management as "a stream of decisions and actions, which leads to the development of an
effective strategy or strategies to help achieve corporate objectives". Another group of
theorists like Hofer and others (1984) stated that strategic management is "the process
which deals with the fundamental organizational renewal and growth with the
development of strategies, structures, and systems necessary to achieve such renewal and
growth, and with the organizational systems needed to effectively manage the strategy
formulation and implementation processes". According to Sharplin (1985), strategic
management is "the formulation and implementation of plans and carrying out of
activities relating to the matters which are of vital, pervasive or continuing importance to
the total organization" Lawrence and William (1988) delineated strategic management as
a stream of decisions and actions, which leads to the development of an efficient strategy
or strategies to help achieve corporate objectives.
Copious studies have shown that the strategic management process is the technique in
which strategists decide objectives and take effective strategic decisions. Main
concentration of strategic management is the accomplishment of organizational goals
taking into consideration the internal and external environmental factors. Porter (1985)
squabbled that the spirit of formulating comprehensive strategy is associated with
company to its environment. Strategic management allows the systematic management of
change. It facilitates organization to decisively organize resources towards a desired
future. Chandler (1962) also speculated that any successful policy is dependent on
structure, to accomplish any effective economic performance. The organization needs to
change its structure. In the decade of 1998, Harrison and St. John (1998) explained the
concept of Strategic Management as "the process through which organizations analyse
and learn from their internal and external environments, establish strategic direction,
create strategies that area intended to help achieve established goals, and execute these
strategies, all in an effort to satisfy key organizational stakeholders". It is appraised that
several theorists have dissimilar viewpoint for the notion of strategic management but
there are several common elements in the way it is understood. Strategic Management is
regarded as either decision making and planning, or a set of activities interrelated to the
formulation and execution of strategies to accomplish Organizational Objectives. It is
also set of managerial decisions and actions that decide the long term performance of
firms. It comprises of Strategic Intent, Environmental scanning (both internal and
external), and strategy formulation (strategic planning), strategy implementation and
evaluation and control. It can be recognized that Strategic Management is the process by
which an organization try to establish the ways by which company can accomplish long
term goals.

Overview of Strategic Management :

Strategic management is an organized approach to manage strategic change, which
consists of the following:
1. Positioning of the firm through strategy and capability planning.
2. Real-time strategic response through issue management.
3. Systematic management of resistance during strategic implementation.
Strategy and market positions are necessary to set directions for a firm and to overcome
competitors or facilitate to conquer threatening environment. A good strategy when
effectively implemented can ensure an uppermost position for the weakest firm among
other leading competitors.

Nature and Scope of Strategic Management

Strategic management is both an Art and science of formulating, implementing, and
evaluating, cross-functional decisions that facilitate an organization to accomplish its
objectives. The purpose of strategic management is to use and create new and different
opportunities for future. The nature of Strategic Management is dissimilar form other
facets of management as it demands awareness to the "big picture" and a rational
assessment of the future options. It offers a strategic direction endorsed by the team and
stakeholders, a clear business strategy and vision for the future, a method for
accountability, and a structure for governance at the different levels, a logical framework
to handle risk in order to guarantee business continuity, the capability to exploit
opportunities and react to external change by taking ongoing strategic decisions.
Strategic management process encompasses of three phases.
1. Establishing the hierarchy of strategic intent
2. Strategic formulation.
3. Implementation
4. Evaluation and control.
Strategy formulation comprises of developing a vision and mission, identifying an
organization's external opportunities and threats, determining internal strengths and
weaknesses, establishing long-term objectives, creating alternative strategies, and
choosing particular strategies to follow.
Strategy implementation needs a company to ascertain annual objectives, formulate
policies, stimulate employees, and assign resources so that formulated strategies can be
implemented. Strategy implementation includes developing a strategy-supportive culture,
creating an effective organizational structure, redirecting marketing efforts, preparing
budgets, developing and utilizing information systems, and relating employee reward to
organizational performance.
Strategy evaluation is the last stage in strategic management. Managers must know when
particular strategies are not working well. Strategy evaluation is the main process for
obtaining this information.

Phases of Strategic Management Processes

Technology Management
Technology is a Greek word derived from the synthesis of two words: techne (meaning
art) and logos (meaning logic or science). So loosely interpreted, technology means the
art of logic or the art of scientific discipline. Formally, it has been defined by Everett M.
Rogers as "a design for instrumental action that reduces the uncertainty in the cause-
effect relationships involved in achieving a desired outcome". That is, technology
encompasses both tangible products, such as the computer, and knowledge about
processes and methods, such as the technology of mass production introduced by Henry
Ford and others.
Another definition was put forth by J. Paap, as quoted by Michael Bigwood in Research-
Technology Management. Paap defined technology as "the use of science-based
knowledge to meet a need." Bigwood suggests this definition "perfectly describes the
concept of technology as a bridge between science and new products." Technology draws
heavily on scientific advances and the understanding gained through research and
development. It then leverages this information to improve both the performance and
overall usefulness of products, systems, and services.
In the context of a business, technology has a wide range of potential effects on
management:

 Reduced costs of operations. For example, Dell Computer Corporation used

technology to lower manufacturing and administrative costs, enabling the
company to sell computers cheaper than most other vendors.
 New product and new market creation. For example, Sony Corporation pioneered
the technology of miniaturization to create a whole new class of portable
consumer electronics (such as radios, cassette tape recorders, and CD players).
 Adaptation to changes in scale and format. In the early part of the twenty-first
century, companies addressed how small devices such as cell phones, personal
digital assistants (PDAs), and MP3 players could practically become, as well as
how each product could support various features and functions. For example, cell
phones began to support email, web browsing, text messaging, and even picture
taking as well as phone calls.
 Improved customer service. The sophisticated package-tracking system developed
by Federal Express enables that company to locate a shipment while in transit and
report its status to the customer. With the development of the World Wide Web,
customers can find the location of their shipments without even talking to a
Federal Express employee.
 Reorganized administrative operations. For example, the banking industry has
reduced the cost of serving its customers by using technologies such as automated
teller machines, toll-free call centres, and the Web. As of early 2005, the cost of a
bank transaction conducted by a human teller was approximately $2, compared to
$1 for a telephone banking transaction, $.50-1.00 for an ATM transaction, and
about ten cents for banking over the Internet. Automated Clearing House (ACH)
or "checkless" check processing costs were $.25-.50 per transaction. This
reduction in cost could be attributed primarily to reduction the amount of labor
involved, which had a profound effect on employment and labor-management
relations in banking.
Professor Michael Porter of Harvard Business School is one of many business analysts
who believe that technology is one of the most significant forces affecting business
competition. In his book Competitive Advantage (1985), Porter noted that technology has
the potential to change the structure of existing industries and to create new industries. It
is also a great equalizer, undermining the competitive advantages of market leaders and
enabling new companies to take leadership away from existing firms. In a Grant Thorton
LLP survey conducted during late 2004, 47 of 100 mid-size manufacturing businesses
agreed that innovation had become increasingly import to the industry. As M.F. Wolff
reported, corporate strategists were encouraging this by bringing product designers along
on customer visits, offering rewards and recognition programs to employees with
innovative ideas, including innovation as a priority in business strategies, setting revenue
goals attributable to innovation, and looking for "willingness and ability to innovate"
when making hiring decisions.

Since technology is such a vital force, the field of technology management has emerged
to address the particular ways in which companies should approach the use of technology
in business strategies and operations. Technology is inherently difficult to manage
because it is constantly changing, often in ways that cannot be predicted. Technology
management is the set of policies and practices that leverage technologies to build,
maintain, and enhance the competitive advantage of the firm on the basis of proprietary
knowledge and know-how.
The U.S. National Research Council in Washington, D.C., defined management of
technology (MOT) as linking "engineering, science, and management disciplines to plan,
develop, and implement technological capabilities to shape and accomplish the strategic
and operational objectives of an organization" (National Research Council, 1987). While
technology management techniques are themselves important to firm competitiveness,
they are most effective when they complement the overall strategic posture adopted by
the firm. The strategic management of technology tries to create competitive by
incorporating technological opportunities into the corporate strategy.
Technology management needs to be separated from research and development (R&D)
management. R&D management refers to the process by which a company runs its
research laboratories and other operations for the creation of new technologies.
Technology management focuses on the intersection of technology and business,
encompassing not only technology creation but also its application, dissemination, and
impact. Michael Bigwood suggests that New Technology Exploitation (NTE) lies
somewhere between R&D and New Product Development, with characteristics of the
cyclical learning process of scientific discovery and the more defined and linear process
of product development.
Given these trends, a new profession, known as the technology manager, emerged.
Defined as a generalist with many technology-based specializations and who possessed
new managerial skills, techniques, and ways of thinking, technology managers knew
company strategy and how technology could be used most effectively to support firm
goals and objectives.
Educational programs supporting this career grew as well. Formal Technology
Management programs became available in the 1980s and these were largely affiliated
with engineering or business schools. Coursework was limited, and the field was just
finding its own unique focus. During the 1990s, the increasing integration of technology
into overall business function and strategy helped to align technology management more
closely with business programs. Most graduate programs in the 2000s were offered
through business schools, either as separate MBA tracks or as MBA concentrations.
Coursework in these programs shifted emphasis from technology to management,
centering around innovation management and technology strategy, while touching on
other areas such as operations, new product development, project management, and
organizational behaviour, among others. There was still little specialization in any
particular industry.
During the early 2000s, another shift took place. Global distribution, outsourcing, and
large-scale collaboration impacted the nature of technology management (TM) and
preparatory educational programs. At least two MBA programs were shifting their
technology management focus to "innovation and leadership," with particular emphasis
on real-world problem solving in partnership with large corporations.

Need and Scope of Technology Management

 Growth of the Firm: The process of managing technology involves organizing,
coordinating, and managing activities. If technology is well managed, an
organization will improve on its operations and reduce on operational costs of the
organization. The technical staff will have a challenge of analyzing what
customers need and specify which technologies are supposed to be implemented
as well as spot the ones to be stopped. After this process of analyzing what is
necessary, both the organization and its consumers will benefit which will lead to
the growth of that organization.
 Eliminates duplication: If technology is well managed, it will automate
information flow in an organization. In this case, the technical team will set up a
management information system (MIS) which provides periodic, predetermined
and ad-hoc reporting capabilities. In most cases the MIS reports summarize or
aggregate information to support decision-making tasks. So, MIS’s are systems
that have information-processing responsibilities that include information through
online analytical processing (OLAP) and conveying information to whoever needs
it. To a small organization this process might be expensive, so people in charge
must calculate return on investment. MIS’s are commonly known as
‘’management alerting systems ‘’’ because they send alerts to management
concerned to the existence or potential existence of problems or opportunities. A
management information system (MIS) provides reports in many different forms.
Its reports can be periodic reports, summarized reports, exception reports, ad hoc
reports and comparative reports.
 Efficiency of Operations: Technology also helps a business understand its cash
flow needs and preserve precious resources such as time and physical space.
Warehouse inventory technologies let business owners understand how best to
manage the storage costs of holding a product. With proper technology in place,
executives can save time and money by holding meetings over the Internet instead
of at corporate headquarters.
 Business Culture and Class Relations: Technology creates a team dynamic
within a business because employees at different locations have better
interactions. If factory managers can communicate with shipment coordinators at
a different location, tensions and distrust are less likely to evolve. Cliques and
social tensions can become a nightmare for a business; technology often helps
workers put their different backgrounds aside.
 Security: Most businesses of the modern era are subject to security threats and
vandalism. Technology can be used to protect financial data, confidential
executive decisions and other proprietary information that leads to competitive
advantages. Simply put, technology helps businesses keep their ideas away from
their competition. By having computers with passwords, a business can ensure
none of its forthcoming projects will be copied by the competition.
 Research Capacity: A business that has the technological capacity to research
new opportunities will stay a step ahead of its competition. For a business to
survive, it must grow and acquire new opportunities. The Internet allows a
business to virtually travel into new markets without the cost of an executive jet or
the risks of creating a factory abroad.
Swot Analysis

Introduction

Today’s organizations find themselves operating in an environment that is changing faster

than ever before. The process of analyzing the implications of these changes and
modifying the way that the organization reacts to them is known as business strategy.

‘Strategy is the direction and scope of an organization over the long term,
which achieves advantage in a changing environment through its
configuration of resources and competences’ Johnson et al. (2009).

While your role as a manager is unlikely to require you to make decisions at the strategic
level, you may be asked to contribute your expertise to meetings where strategic con-
cerns are being discussed. You may also be asked to comment on pilot schemes,
presentations’, reports, or statistics that will affect future strategy.

Presentations

Pilot Reports
Schemes

How you
participate in Stats
Meet strategy

Whether you work in a large multinational corporation or a small organization, a good

understanding of the appropriate business analysis techniques and terminology will help
you to contribute to the strategic decision-making processes.

Typical scenarios where you could be asked to provide information and data for your
organization’s strategic decision making include:
 ● Analyzing the organization’s external environment.

● Assessing the organization’s internal capabilities and how well it can respond to
external forces.

● Assisting with the definition of the organization’s strategy.

● Aiding in the implementation of the organization’s strategy.

SWOT Analysis

The SWOT analysis is a business analysis technique that your organization can perform
for each of its products, services, and markets when deciding on the best way to achieve
future growth. The process involves identifying the strengths and weaknesses of the
organization, and opportunities and threats present in the market that it operates in. The
first letter of each of these four factors creates the acronym SWOT.
The completion of a SWOT analysis should help you to decide which market segments offer you
the best opportunities for success and profitable growth over the life cycle of your product or
service.

The SWOT analysis is a popular and versatile tool, but it involves a lot of subjective decision
making at each stage. It should always be used as a guide rather than as a prescriptions and it is
an iterative process. There is no such thing as a definitive SWOT for any particular organization
because the strengths, weaknesses, opportunities, and threats depend to a large extent on the
business objective under consideration.

 SWOT Analysis provides information that helps in synchronizing an organization’s

resources and capabilities with the external environment in which the organization
operates.
 The acronym SWOT stands for Strengths, Weaknesses, Opportunities, and Threats.
 Strengths and weaknesses are considered to be internal factors over which you have some
measure of control.
 Opportunities and threats are considered to be external factors over which you have
no control.
 SWOTs depend on the business objective under consideration.
 There is NO definitive SWOT analysis for any organization.
 SWOT is often the first step in a more complex and in-depth analysis.