Appunti di Management

UNDERSTANDING THE UNDERLYING BEHAVIOUR

Trend: a long-term upward or downward movement in data.

Irregular variations: are caused by unusual circumstances, not reflexive of typical behaviour.

Cycles: wavelike variations lasting more than one year.

Seasonality: Short-term regular variations related to the calendar or time of day.

Time-series forecasting: Naive forecast

Uses a single previous value of a time series as the basis for a forecast:

The forecast for a time period is equal to the previous time period's value

Can be used with:

• A stable time series
• Seasonal variations
• Trend

Time-series forecasting: Averaging

These techniques work best when a series tends to vary about an average:

Averaging techniques smooth variations in the data

They can handle step changes or gradual changes in the level of a series

Techniques:

1. Moving average
2. Weighted moving average
3. Exponential smoothing

1. Moving average: technique that averages a

Service capacity is the maximum amount of work that an operation, process, or facility is designed for.

Effective capacity is the design capacity minus allowances such as personal time and maintenance. For example, if a machinery can work for 24 hours but the business is open only 8 hours, the effective capacity would be lower than the design capacity since the machinery works only for 8 hours.

The determinants of effective capacity include:

• Facilities
• Product and service factors
• Process factors
• Human factors
• Policy factors
• Operational factors
• Supply chain factors
• External factors

The effectiveness of a measuring system is determined by the actual output achieved, which cannot exceed the effective capacity. Efficiency and utilization are measured as percentages.

For example:

• Design capacity = 50 trucks per day
• Effective capacity = 40 trucks per day
• Actual output = 36 trucks per day

Efficiency = Actual output / Effective capacity = 36 / 40 = 90%

Utilization = Actual output / Design capacity = 36 / 50 = 72%

Capacity is an important measure for strategy formulation.

Strategies are typically based on capacity.

2: what would be the profit (loss) be if 1000 pies are made and sold in one month?

Question 3: how many pies must be sold to realize a profit of $4000?

Question 4: if 2000 can be sold, and a profit target is $5000, what price should be charged per pie

Solution 1:

$Q = = 1200 pies

BEP $ $

Solution 2: Profit = TR-TC= R*Q – (FC+Q*v)

Profit = 1000*$7-($6000+1000*$2)= $7000-$8000= -$1000 (loss)

Solution 3: Profit = TR-TC= R*Q – (FC+Q*v)

$4000 = $7*Q – ($6000+Q*$2)

Q= ($6000+$4000)/$5= 2000 pies

Solution 4 : Profit = TR-TC= R*Q – (FC+Q*v)

Profit = Q(R-v) – FC

$5000 = 2000*R – ($6000+$2*2000)

$15000/2000=RR=$7,5 per pie

Assumptions:

- One product is involved

- Everything produced can be sold

- The variable cost per unit is the same regardless of the volume

- Fixed costs do not change with volume changes

- The revenue per unit is the same regardless of the volume

- Revenue per unit exceeds variable cost per unit

Organizing & LendingEffective groups and teams

1. Intensity

A specific, overriding team goal / objective

Groups’ and Teams’ Contributions to Organizational Effectiveness

Groups and teams can:

• Enhance performance Synergy: “The whole is more than the sum of its parts.”
• Increase responsiveness to customers diversity
• Increase innovation variety of skills
• Increase motivation and satisfaction social interaction

Types of Groups and Teams in Organizations

Formal groups and teams created by managers (e.g. cross-functional teams, cross-cultural teams, TMT) - A group that managers establish to achieve organizational goals

Informal groups created by organizational members (friendship groups or interest groups) - A group that managers or nonmanagerial employees form to help achieve their own goals or to meet their own needs

Keys to Effective Self-Managed Teams

Give the team enough responsibility and autonomy to be truly self-managing.

The team’s task should be complex enough to include many

Labour — splitting the work to be performed into tasks and assigning tasks to individual workers.

Group Task and Interdependence

Task interdependence: Degree to which the work performed by one member of the group influences the work performed by other members.

3 types of task interdependence (J.D. Thompson):

1. Pooled
2. Sequential
3. Reciprocal

Group Role

A set of behaviors and tasks that a member of a group is expected to perform because of his or her position in the group.

Group Leadership

Effective leadership is a key ingredient in high performing groups, teams, and organizations.

Formal vs informal leadership

Group Development

Group norms: Shared guidelines or rules for behavior that most group members follow.

Conformity and deviance

Group Cohesiveness

The degree to which members are attracted to their group.

Sources and consequences of group cohesiveness

Motivating Group Members to Achieve Organizational Goals

Members should benefit when the group performs well — rewards can be