HM studies

FORECASTING   It is a future event or trend.  It is the process if making predictions of the future based on past or present data that is most commonly by analysis to trends. In business, a planning tool that helps management in its attempts to cope with the uncertainty of the future, relying data from past and present and analysis of trends.  Some assumption based on :-  - Management experience  - Knowledge  - Judgement  - Degree of fit Some are the factors on which forecasting depends :- Whether  Economic  Ensemble  Energy  Probabilistic  Pandemic Situation 

MANAGEMENT BY OBJECTIVES (MBO) A method whereby managers and employees define objectives for every department, project and person and use them to monitor subsequent performance. It is a management practice which aims to increase organizational performance by aligning goals and subordinates objectives throughout the organizational.  MBO (Nature or Purpose) • MBO is concerned with goal setting and planning for individual managers and this units. • The essence of MBO is a process of joint goal setting between supervisor and the subordinate.  • Clarify the hierarchy of objectives as a series of well defined means end chain. Steps for MBO :- • Set Goals The most difficult step.  Specific target and time frame.  Assign responsibility.  Concrete.  • Develop Action Plan For both workgroups and individuals. Course of action. • Review progress/take corrective Action Periodicity. Course corrections. • Appraise overall Performance How are we doing ? Do we...

DECISION MAKING PROCESS  Decision making is the process of choosing what to do by considering the possible consequences of different choices.  It is daily activity for any human being and there is no exception about that. Decision Making Model :- • Identify the decision to be made :- The decision making process begins with a situation or a problem to be addresses or solved. After the identification of the purpose of the decision you realize that a decisions must be made. • Gather relevant information :- Most decisions required collecting pertinent info.  The real trick in this step is to know what information is needed, the best sources of this information and how to go about getting it. • Identify alternatives :- Through the process of collecting information you will probably identify several possible paths of action or alternatives.  • Weight the evidence :- In this step, the baseline criteria for judging the alternatives should be setup.  • Making a...

  PLANNING   Planning is a search problem that requires to find an efficient sequence of actions that transform a system from a given starting state to the goal state. Planning is the starting point of the management process. Proper planning accomplishes the following :- • Managing uncertainty. • Better Focus. • Improves Coordination. • Basis for Control. • Improves Effectiveness. Planning is pervasive at :- • Individual Level. • Team Level. • Department Level. • Corporation Level. Types of planning :- • Strategic Planning. • Tactical Planning. • Operational Planning. Strategic Planning This is long term planning that involves all. The organization's management, areas and its content is relatively general Focuses on broad & long lasting issues that ensure the organization’s long-term effectiveness and Survival This planning is the responsibility of organization's director at executive levels. Tactical Planning When organizations are very large-they-...

  DRY INGREDIENT These are those type of ingredients which are found in dry or powder form of ingredients, like, baking powder, baking soda, bran, brown sugar, bread-crumbs, conning or pickling salt, cocoa powder, corn meal / four, corn starch, cream of tartar, flour, flour for all purpose, flour arrowroot, flour bread, flour cake, flour cat, flour pasting, flour potato starch, flour rice, flour self rising, four whole wheat, granulated sugar, herbs, kosher salt, oatmeal, pearl sugar, pepper, powdered sugar, salt, salt substitute , sea salt, spices, superfine sugar, table salt, wheat germ and yeast etc. Baking Powder  This is a combination of baking soda and an acid and a moisture absorber, which together form a leavening agent. Just the right amount of acid is added to the baking soda so that when the baking powder is added to moist ingredients, there is a reaction that releases carbon dioxide bubbles.  Bran   Bran, the hard outer layer of whole cereal grains such a...

  MANAGEMENT   - Work from others. - Without wasting resources.  - With concerning the changing environment,              and - Social responsibility.  It is the activity of getting things done with the aid of people and other resources. “ It is the process accomplishing through the efforts of other.” Skilled manager can accomplish much more through other than they can through other than they can through their efforts.  Management as art can be defined as systematic body of knowledge which requires skills, creativity, and practice to get perfection.  Characteristics / Features of Management  • It is a process or function that continues and              never ending process.  • It is a social process. • Involves group effort that follow established              principles or rules. • Aims at achieving predetermined objectives. • ...

Evolution of Management/Perspective of Management  A. Classical Perspective  - Economic rationality of employees.  - Motivated by economic incentives.  i. Scientific Management :-                                                Taylor (1856-1915).                                              Gliberth (1878-1972).                                              Henry L Gantt (1861-1991). • Did not appreciate social contact of workers              and higher need of workers.  • Did not acknowledge various among                    ...