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Business Organizations - Private and Public Sector (Grade 7) [HRS]
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Chapter 7 - Review Data and Decision Making *Glow bus due at midnight, name and student number: answer questions using content in class People have created wonderful things for centuries, and management Management can be traced as far back as 500 bc when the ancient Sumerians used written records to improve government and business activities Why is it important to lean from the past Not to repeat our mistakes Classical management approaches Scientific management Administrative Principles Bureaucratic organisation Behavioural Management Approaches Follettâs Organizations as communities The Hawthorne studies Maslowâs theory of human needs Mcgregorâs Theory x and Theory Y Argyris Personality and organisation Modern Management foundations Organises as systems Contingency thinking Quality management Quantitative and analysis and tools Evidence-based management Contributions Frederick Taylor - Father of Scientific management He noticed that workers often did their jobs with wasted motions and without a constant approach. His resulted in inefficiency and low performance He believed the problem could be fixed if workers were taught to do their jobs in the best ways and ten were helped and guided by supervisors Four guiding principles of scientific management Rules of motion, standardized work and proper working conditions Select workers with the right abilities Train workers and give them incentives Support workers by planning and smoothing the way as they do their work Frank and Lillian Gilbreth Pioneered use of motitono studies as a management tool In one famous case, the gilbreaths cut down the number of motions used by bricklayers adn tripled their productivity Contributions from scientific management Make results-based compensation a performance incentive Carefully design jobs with efficient work methods Carefully select workers with the ability to perform the job Trian workers to execute activities to the best of their abilities Train supervisors to support workers so they can perform jobs to the best of their abilities Classical Management Adiminstative principle (Henro Fayol) 1919, after a career in French industry, Henri F published âadminisration Industrielle et Generaleâ (General and industrial management) in which we out like his views on the management of organiztion and workers Rules and duties in management Foresight - to complete a plan of action for the future Organization - To provide and mobilize resources to implement the plan Common- to lead, select and evaluate workers to get the best work toward the plan Coordination- to fit diverse efforts together and ensure information is shared and problems solved Control- to make sure things happen according to plan and to take necessary corrective action Classical management Bureacratic organiztion (Max Weber) Max weber (Bureaucrativ organization) - late 19th century German political economist who had a major impact in the fields of management and sociology Bureaucratic Organization An ideal, intentionally rational adn very efficient form of organization Based on the principles of logic, order and legitimate authority Characteristics of BO Clear division of labour Clear hierarchy of authority Formal rules and procedure Impersonality Careers based on merit What are some disadvantages of bureaucracy Takes a long time for problems to become solved bec there are procedures and there is a chain of people in command Having the power Rules have to follow Excessive paperwork or âred tapeâ Slowness in handling problems Rigidity in the face of shifting needs Resistance to change Employee apathy Behavioural Management Approaches (focus on understanding the elements that affect human behaviour in organisations) Follettâs Organizations as communites Mary park follett contributed to the transition from classical thinking inot behavioural management Groups and human cooperation Groups allow individuales too combine their talents for a greater good Organizations are cooperating âcommunitesâ of managers adn workers Managers job is to help people copperate and achive an integration of goals and intrests Forward-looking managment insight: Making every emploee an owner creates a sense of collective responsibility Prescursor of employrr ownership, profit sharing and gain sharing Buniess problems invovle a varity of inter realted factors Prescursor of systems thinking Private profits realtive to public good Precursor of managerial ethics and social respinsibility Hawthorne studies Took place at western electric chicago plan, a tran led by Harvards Elton Mayo set out to learn how econmic incentives and workplace conditions affected workers output Maing objective Intial study examined how ecomoin incentives adn physical conditions affected worker output (productivity) No consistent relationship found During experientmetn they had 2 groups The expertiant groups (impoved wokring ocnditions ) The control group ( no changes to original working conidtions) No consitant relationship found, perfomance in both groups increased even after removing incentives Social setting and human relations Concluded New âsocial settingâ led workers to do good job Good âHuman relationsâ = higher productivity The contect - The Great Depression (1929-1940) Employee attitudes and groups processes Osme thinsf satisifed some workers but not others People resticited output to adhere to groups norms (Avoid layoffs) Lessons from he hawthrone stufirs Social and human concerns are keys to prductivity Hawthrone effect - People who are singled out for special attention perform as expected Maslowâs Theory of human needs Human needs The work of psychologist Abraham Maslow in the area if human âneeds,â also has had a major impact in the behavioual apporach to management Maslowâs hierarchy of human needs Self actualization needs Higherst level: need foe self fulfillment to grow and use abilites to fullest and most creative extent Esteem needs Needs fro esteem in eyes of others need for respect, prestige, recognition; need for self esteem, personal sense of competence, mastery Social needs Need for love, affection, sense of belongingness in ones relationship either other people Safett needs Need for security, protection and stability in teh events of day to day life Physiological needs Most basic of all human needs: need for biological maintence; food, water and phydical well being Principles Defict principle: A satidifed need is not a motivator of behaviour Progress principles: A need becomes a motivator once the preceding lower-level need is satisfied Both principles cease to operate at self actulilzation level McGregorâs Theories Thepry x assumes that workers; Dislike work Lack ambition Are irresponsible Resist change Prefer to be led Theoyry y assumes that workers are Willing to work Willing to accept responsibility Capable of self control Capable of self direction Imaginative and creative According to McGregor, Managers create: Self fulfilling prophecies Implications of Theory x and y Theory x managers: Create situations where workers become dependent, passive and reluctant Theory y managers create situations where workers respond with initiative and high performance Central to notions of empowerment and self management Argyrisâs theory of adult personality Classical management principles and practices inhibit worker maturation and are inconsistent with the mature adult personality Management practices should accommodate the mature personality: Increasing task responsibility Increasing task variety Using participative decision making Modern Management Foundation Quantitative analysis and Tools Analytics: the use of large data bases and mathematics to solve problems and make informed decision using systematic analysis Organization as systems System Collection of interrelated parts that function together to achieve a common purpose Subsystem A smaller component of a larger system Open systems Organisations that interact with their environment Contingency thinking Tires to maths managerial responses with problem (situation) No âone best wayâ to manage The âappropriate way to to manage depends on the situations Quality management Qality anc competitive advantafe are linked Total quality managment (TQM) Comprehensive approach to contiou impovment on teh entire organization ISO certification Gloval quality management standards Refine and upgrade quality to meet ISO requirments Evidednce Based Managment Making management decision on âhard factsâ about what really works New Trends in Agriculture Extension approaches Extension has been, and still is, under attack from a wide spectrum of politicians and economists over its cost and financing. As a result, Extension Systems have had to make changes, by restating the systemâs mission, developing a new vision for the future, and formulating plans for the necessary transition to achieve the desired change. 1. Privatization of Agricultural Extension Service Privatization: Process of funding and delivering the extension services by private individual or organization is called Private Extension. Concept: Privatization of extension refers to services rendered in rural area & allied aspects of extension personnel working in private agencies or organization for which farmers are expected to pay a fee & it can be viewed as supplementary or alternative to public extension services (Sarvanan & Shivalinge 1980). Privatization approaches ⢠Share cropping system ⢠Village extension contract system ⢠Public extension through private delivery ⢠Service for vouchers Strengths of Private Extension System ⢠More demand - driven rather than supply â driven ⢠High quality of services in terms of satisfying information needs of clientele, trained manpower, sustained finances and resource allocation ⢠Provides for an information mix and choices available to farmers ⢠Enhanced efficiency of staff ⢠Assure continuous supply and quality agricultural products ⢠More effective because farmer can select an adviser who is the best able to help ⢠Healthy competition among service provider will lead to better quality and lower costs for service Weakness of Private Extension System ⢠Concentrate on area having favorable physical environment ⢠More face-to-face contacts (person oriented) ⢠Increased dependence of farmers and hence exploitation ⢠No education role ⢠Deprivation of small farmers ⢠Hamper the free flow of information 2. Cyber Extension or e-extension Concepts Cyber space: it is the imaginary or virtual space of computers connected with each other on Networks, across the Globe. Cyber extension: it means 'using the power of online networks, computer communications and digital interactive multimedia to facilitate dissemination of agriculture technology. Cyber Extension thus can be defined as the extension over cyber space. Important tools of cyber extension E-Mail, Telnet, File Transfer Protocol (FTP), Gopher, Archie and World Wide Web (WWW) Strengths of Cyber Extension ⢠Access to the astounding information and continuously available ⢠Information rich and instantaneously available of information ⢠Interactive communication ⢠The information is available from any point on the globe ⢠Communication is dynamic ⢠Cut steps from traditional process ⢠Save money, time and effort ⢠Multiplicity of purpose Issues and Concerns of Cyber Extension ⢠Lack of Reliable Telecom Infrastructure in Rural Areas ⢠Erratic or no Power Supply ⢠Lack of ICT Trained manpower (willing to serve) in Rural Areas ⢠Lack of content (locally relevant and in local languages) ⢠Lack of Information Services to Rural Clientele ⢠Low Purchasing power of the Rural communities ⢠Lack of Holistic Approaches ⢠Issues of Sustainability Application of cyber extension ⢠Village information shops Dr. M.S. SwaminathanResearch Foundation, Chennai ⢠Information villagers MANAGE in Ranga Reddy District in Andhra pradesh ⢠Gyandoot net initiative of District Dhar, Madhya Pradesh. ⢠Warna wired village of National Informatics Center (NIC) in Kolhapur- Sangli Districts of Maharashtra 3. Market-Led-Extension (MLE) Concepts Market: A congregation of prospective buyers & sellers with a common motive of trading a particular commodity. Extension: It is the spreading/reaching out to the mass Market-led-extension: Agriculture & economics coupled with extension is the perfect blend for reaching at the door steps of common man with the help of technology. Dimensions of market-led extension ⢠Marketing mix: A planned mix of the controllable elements of a product's marketing plan commonly termed as 4Ps: product, price, place, and promotion. These four elements are adjusted until the right combination is found that serves the needs of the product's customers, while generating optimum income. ⢠Marketing plan: A marketing plan is a comprehensive document that outlines a business and marketing efforts for the coming year. It describes business activities involved in accomplishing specific marketing objectives within a set time frame. A marketing plan also includes a description of the current marketing position of a business, a discussion of the target market and a description of the marketing mix that a business will use to achieve their marketing goals. ⢠Market Intelligence: It is the information relevant to a companyâs markets, gathered and analyzed specifically for the purpose of accurate and confident decision making. Market intelligence includes the process of gathering data from the companyâs external environment, whereas the business intelligence process is primarily based on internal recorded events â such as sales, shipments and purchases. ⢠Market oriented production ⢠Use of Technology Strengths of market-led extension ⢠SWOT analysis of the market ⢠Organization of Farmersâ Interest Groups (FIGs) ⢠Enhancing the interactive and communication skills of the farmers ⢠Establishing marketing and agro-processing linkages ⢠Advice on product planning ⢠Educating the farming community ⢠Direct marketing ⢠Acquiring complete market intelligence ⢠Publication of agricultural market information Production of video films of success stories ⢠Challenges to market-led extension ⢠Gigantic size of extension system ⢠Information technology Diverse conditions ⢠Market intelligence ⢠Reforms in agricultural extension system Government Initiatives ⢠Central warehousing Corporation-1965 ⢠MSP by Commission for Agricultural Cost and Price (CACP) ⢠Food Corporation of India ⢠Then some others as: Cotton Corporation of India (CCI), Jute Corporation of India (JCI), National Dairy Development Board (NDDB), Agriculture and Processed food Export Development Authority (APEDA) etc. 4. Farmer--Led-Extension (FLE) Farmer--led-extension is defined as 'the provision of training by farmers to farmers, often through the creation of a structure of farmer promoters and farmer trainers' (Scarborough et al., 1997). Philosophy and principles ⢠Farmers and local institutions (e.g. producer organizations or village leaders) should play a key role in selecting farmer-trainers and monitoring and evaluating them. This helps make the programmes more accountable to the community or groups that they serve. ⢠Farmer-trainers are âof the communityâ; they communicate in local languages and are more sensitive to local cultures, mannerisms, farming practices, and farmersâ needs. ⢠Farmer-trainers should be selected on the basis of their skills and interest in sharing information, not just on their farming expertise. ⢠Farmer-trainers need strong linkages with and support from development agents (whether government, non-government organization (NGO), or private), the people who train and backstop them. Farmer-trainers generally serve as a complement to existing extension systems, rather than being a substitute for them. ⢠Facilitating organizations and local institutions need to be proactive in ensuring that women as well as men become farmer-trainers. ⢠Simple and appropriate reference materials should be made available to the farmer trainers. Essential Elements of Farmer--led-extension ⢠The group ⢠The Field ⢠The Facilitator ⢠The curriculum ⢠Programme leader ⢠Financing Special features of Farmer--led-extension ⢠All learning is field based & it is primary venue for learning ⢠FLE group learning constantly over the experimentation period ⢠FLE promotes healthy decisions & quality decisions ⢠Farmers conduct their own field studies with comparisons or treatments ⢠Facilitates Farmer-to-Farmer communication ⢠Field staff serve as facilitators ⢠FLE is a unique way to educate farmers ⢠It is an effective platform for sharing of experiences and collectively solving agriculture related problems. 5. Expert system Expert system is an intelligent computer program that uses knowledge and inferences procedures to solve problems (Daniel Hunt, 1986). Objectives of developing expert system ⢠To enhance the performance of agricultural extension personnel and farmer ⢠To make farming more efficient and profitable ⢠To reduce the time required in solving the problems ⢠To maintain the expert system by continuously upgrading the database Advantages of expert system ⢠Solves critical problems by making logical deductions without taking much time ⢠It combines experimental and conventional knowledge with the reasoning skills of specialists ⢠To enhance the performance of average worker to the level of an expert Limitations of expert system ⢠Expensive computer program ⢠Mostly developed not in regional languages ⢠Requires AC power and internet connection all the time ⢠Complex software requires computer skilled personnel Modules of expert system in agriculture ⢠COMAX: Integrated crop management in cotton ⢠SOYEX: Soybean oil extraction expert system ⢠PLANT/ds: Diagnosis of soybean diseases ⢠MAIZE: Maize expert system for field crop management ⢠SEMAGI: Weed control decision making in sunflowers ⢠Rice Crop Doctor: Developed by National Institute of Agricultural Extension Management (MANAGE) Difference between conventional and expert system of extension Conventional Extension ⢠Universal approachability of same information is a problem ⢠Information is given whatever is available without considering needs and resources ⢠No Cost benefit analysis ⢠Information flow depends on availability of agent ⢠Require users to draw their own conclusion from facts Expert System of Extension ⢠Universal approachability of same information is possible ⢠Information is chosen based on their needs and resources ⢠Cost benefit analysis ⢠Information through Cyber Cafe at any place at any time ⢠Conclusion is drawn based on the decision given by the expertRichard Bland College (RBC), Virginiaâs selective, two-year, residential, liberal arts transfer institution, was born through innovation. In 1959, years before the Virginia Community College system was imagined, Frank Ernst â a Gateway region native, entrepreneur, and retired executive of Hopewellâs Allied Chemical Plant â proposed the creation of an institution grounded in the liberal arts tradition with opportunities for specialized training in in-demand fields such as engineering to the State Council of Higher Education. After discussions with Virginia Tech and the University of Virginia, Ernst found a willing partner in the College of William & Mary, the second-oldest university in the United States, who founded Richard Bland College in 1960. RBC has since offered multiple certificates and university-parallel two-year degrees. The College was named for the Virginia statesman and champion of public rights, Richard Bland. Son and grandson of successful planters, Richard Bland was educated at The College of William and Mary. From 1742 until his death in 1776, he represented the area in which the College is now located, first in the House of Burgesses, and later, with the adoption of a state constitution, in the House of Delegates. He also served as a delegate from Virginia in both the First and Second Continental Congresses. It seems fitting, therefore, that an institution of higher learning located in an area served for so many years by this distinguished Virginia patriot and scholar, should derive its name from one whom Jefferson described âas the most learned and logical man of those who took prominent lead in public affairs.â Before the Civil War, the property on which the College is now located was a plantation owned by the Gurley family. It became an important part of the Union-occupied territory during the 1864-1865 Siege of Petersburg. The present campus was the scene of two battles during that campaign. Shortly after the turn of the century, Hatcher Seward established a dairy and cattle farm on the former Gurley property and constructed two farmhouses. Today they serve as the Presidentâs residence and the Hospitality House. In the early 1900s, the still-beautiful grove of pecan trees was planted. The farm was used as a work camp for about twenty conscientious objectors during World War I. The Commonwealth of Virginia authorized Central State Hospital to purchase the land in 1932 for use as the Petersburg Training School and Hospital for African-American Youth. That institution was moved in 1959, and the land, still owned by the Commonwealth, became the location for the establishment of Richard Bland College of The College of William and Mary. Under the guidance of Colonel (Ret.) James M. Carson, the former hospital and training facility was transformed into Richard Bland College, and classes were held beginning in 1961. In the late 1960s, Ernst Hall (named for a local business leader influential in the establishment of the college) was added to the original campus. In addition, a Student Center Library building and a gymnasium also were constructed in the early 1970s. Colonel Carson retired as the founding President of the College in 1973. From 1973 through 1975, Dr. Cornelius Laban, Professor of Biology, Emeritus, served as the Acting President of Richard Bland College. In 1975, Dr. Clarence Maze succeeded Colonel Carson as Richard Bland Collegeâs second President. During his tenure, Richard Bland College expanded its academic programs, added an Asian water garden that was designed by Dr. Maze and expanded international programs and travel. In recognition of his service to the College, the renovated administration building was named Maze Hall upon his retirement in 1996. In 1996, Dr. James B. McNeer succeeded Dr. Clarence Maze as Richard Bland Collegeâs third President. Dr. McNeer introduced a residential life program and oversaw the addition of the Residential Village in 2008. The Residential Village was comprised of two dormitories, Freedom Hall and Patriot Hall, which housed 250 students. A new Science and Technology Building was added in 2010, and in recognition of his service to the College, this building was named James B. McNeer Hall. Dr. McNeer retired in 2012. In 2012, Dr. Debbie L. Sydow succeeded Dr. James McNeer as Richard Bland Collegeâs fourth president. Dr. Sydow expanded the reach, range and diversity of students attending Richard Bland College. She oversaw a physical campus transformation through extensive building renovation and new construction, creation of a Business Innovation Park, and conservation of the iconic pecan grove and water garden. President Sydow reinstituted intercollegiate athletics in 2013 and has since hailed three NJCAA national championship teams. She supported the Foundationâs emergence as a vibrant, entrepreneurial organization led by a Board of Directors composed largely of alumni, and she secured the largest private gift in College history to launch the W&M Promise Scholars program. By effectively leveraging partnerships, President Sydow boosted work-based learning and expanded academic and career pathways for students.A bank is a financial institution or organization where we save, borrow money and other valuable items such as Jewelry and documents. Banking is the business of operating a bank. THE FOLLOWING ARE THE THREE MAJOR TYPES OF BANKS IN NIGERIA. THESE ARE: 1. The Central Bank of Nigeria (CBN): This bank is fully owned by the Federal Government. It is also known as bankerâs bank or the apex bank(the highest bank)because its controls and supervises the other banks. It controls the minting (printing) of money. 2. Commercial banks: They are either owned by private individuals or jointly owned by government and private businessmen and women. It helps people to save money and also give loans to customers to start up business. The three main accounts that commercial banks operate are (1) Savings account (ii) Current account (iii) Fixed deposit account. 3. Merchant banks: These are banks that mainly give out loans to banks and to people who wish to build big companies or engage in large scale business. They receive interest on such loan. They also accept deposits (money) from people who wish to save for a long period of time. This is called a fixed deposit. EXAMPLES OF SOME COMMERCIAL BANKS ARE AS FOLLOWS: 1. First Bank of Nigeria PLC. 2. Union Bank 3. United Bank for Africa 4. Access Bank 5. Zenith Bank 6. Stanbic IBTC Bank 7. Diamond Bank. The following are the uses of banks: 1. To help us keep our money safe. 2. It makes it easy and safe for people to make payments to the people. 3. Banks help people to send or transfer their money from one area to another, e.g Western Union Money Transfer. 4. They give loans to people.Business OrganizationsBusiness Organizations [Gr.7]Business Organizations Assessment Pretest -Business Organizations - 5