First two sessions were on 'End User computing: Modelling with Spreadsheets'. Many basic powerful features of Excel were covered. Professor gave a useful session, will be useful lifelong.
Operations Management was interesting again. Professor spoke on 'Product-Process Matrix', as usual with a dose of humour. Many of the problems faced by IT companies are because of Job shop kind of characteristic.
'Organisational Behaviour' was good. A questionnaire helped the participants identify the leadership characteristics in them (selling, telling, participating, delegating - where People Focus or Task Focus - how rigid/flexible is one in chaging one's own style) .
Its important to Delegate, so you are freed to do bigger tasks. Day to Day operations should not be taking your time. While delegated be careful about
- select able/competent candidate
- anticipate resistance to change from the others in organisation and prepare to handle it
- set clear goals
- have a regular feedback and review mechanism
- Exhibit trust in whoever you delegated. Dont hover around (i.e. keep checking the status with anxeity). There are possibilities of failures, try to minimise them by planning the feedback process. If there is a failure, coach and correct the situation
- Give both Authority and Responsibility. Responsibility without authority shows that you dont trust the person, which is a recipe for failure. The person cannot motivate himself in a negative environment.
- Motivate and be present (but do not hover)
- Reward/Acheivement
- Dont dump your work. You should have fairly good understanding when you are delegating and when you are dumping (simple rule: if you dont understand the task you are delegating, you know that you want to skip the task).
- Ultimately you are responsible and owner of the task. Whoever is taking up the task should know that there will be repercussions for both of you, if there is a screwup.
- Provide right tools and resources
Saturday, April 14, 2007
Day 4
There were 4 sessions.
1. Operations Management:
Professor Ravichandran has a distinct style of teacher. As one of participants mentioned, no one can throw a lose ball at him. He is batsman always in form, ready to hit for a six. His teaching style, mixed with humour, made it very interesting.
RPO, Ahmedabad case study was discussed. Notes from the class:
Uncertainity leads to anxeity, which leads to enquiries, and leads to irritation with the system:
ex:
1. Investment in stocks - higher uncertainty - track very often
2. Investment in MF - track a little lesser
3. Investment in FD - no tracking
In a linear workflow - Capacity can be increased by increasing resources
Flexible capacity - If same resources have ability to handle multiple tasks, linear workflow should be reorganised to make the capacity flexible.
Cellular manufacturing - manufacturing an entire product or small product line in the same work cell.
2. Macro economics:
Professor talked on the Inflation, India Growth Rate, Macroeconomy Demand Supply curve (Aggregate Demand, Aggregate Supply Curves).
Increased demand increases production, till the Industry reaches Qmax, at which point Price increases.
[ Needs more notes on AD, AS curve, effect of incremental income on investment..]
3. Strategy Management:
There was a wonder discussion on 'Arun Icecream'. Team had improved from the class of Day 2, but still we were far away from being Complete and Concrete.
1. Operations Management:
Professor Ravichandran has a distinct style of teacher. As one of participants mentioned, no one can throw a lose ball at him. He is batsman always in form, ready to hit for a six. His teaching style, mixed with humour, made it very interesting.
RPO, Ahmedabad case study was discussed. Notes from the class:
Uncertainity leads to anxeity, which leads to enquiries, and leads to irritation with the system:
ex:
1. Investment in stocks - higher uncertainty - track very often
2. Investment in MF - track a little lesser
3. Investment in FD - no tracking
In a linear workflow - Capacity can be increased by increasing resources
Flexible capacity - If same resources have ability to handle multiple tasks, linear workflow should be reorganised to make the capacity flexible.
Cellular manufacturing - manufacturing an entire product or small product line in the same work cell.
2. Macro economics:
Professor talked on the Inflation, India Growth Rate, Macroeconomy Demand Supply curve (Aggregate Demand, Aggregate Supply Curves).
Increased demand increases production, till the Industry reaches Qmax, at which point Price increases.
[ Needs more notes on AD, AS curve, effect of incremental income on investment..]
3. Strategy Management:
There was a wonder discussion on 'Arun Icecream'. Team had improved from the class of Day 2, but still we were far away from being Complete and Concrete.
Day 3
Day 3:
All the participants are struggling to cope up with the reading. Topics being taught are interesting and classes of all Professors have been very informative, thought provoking. But to read all the mentioned material is proving to be a formidable task.
total 4 sessions. 2 HR, 1 Guest lecture, 1 Accounting.
HR:
HR activities can be divided into:
a) Recruitment & Selection
b) Performance & Reward management
c) Training and Development
d) Career and Succession planning
e) Grievance handling and Disciplinary process
Guest lecture:
Mr. Phiroz Poonawalla's story was inspiring. The way the case study was structured made it more interesting. He resurrected a company deep in debts, by identifying the root problems and acting in an unconventional way to resolve the problem.
Accounting:
This session was on P&L. Following 5 areas were explored
1) Expense and Expenditure
2) Accrual vs. Cash
3) Realisation of Revenue
4) Matching Expenses with Revenues
5) Depreciation.
1) Expense and Expenditure:
Expense goes to P&L, Expenditure goes to Balance sheet (they are always assets).
If Resource Utilisation Period (RUP) precedes the Accounting period end date, it is Expense. If RUP is after the current Accounting period end date, it is expenditure. (i.e. there are unexpired costs and so are assets).
FY01 31/3/07 FY02
<---------------------------------------------------------------------->
RUP RUP
Expense Expenditure
a) Salaries - expense
b) Purchase of Material - expenditure
c) Insurance Prem (for 1-4-07 to 31-3-08) - expenditure
R&M and Capex:
Capex: Any financial txn which
a) increases the revenue
b) decreases the costs
c) Increases the useful life (beyond its intended/original life).
a) Debottlenecking in the plant - Capex (as it increases throughput)
b) Replacing petrol engine cars with diesel engine cars - Capex (savings in op. costs)
c) Replacement of SS Piping - R&M
d) Remaking of engine to extend useful life of car - Capex
All the participants are struggling to cope up with the reading. Topics being taught are interesting and classes of all Professors have been very informative, thought provoking. But to read all the mentioned material is proving to be a formidable task.
total 4 sessions. 2 HR, 1 Guest lecture, 1 Accounting.
HR:
HR activities can be divided into:
a) Recruitment & Selection
b) Performance & Reward management
c) Training and Development
d) Career and Succession planning
e) Grievance handling and Disciplinary process
Guest lecture:
Mr. Phiroz Poonawalla's story was inspiring. The way the case study was structured made it more interesting. He resurrected a company deep in debts, by identifying the root problems and acting in an unconventional way to resolve the problem.
Accounting:
This session was on P&L. Following 5 areas were explored
1) Expense and Expenditure
2) Accrual vs. Cash
3) Realisation of Revenue
4) Matching Expenses with Revenues
5) Depreciation.
1) Expense and Expenditure:
Expense goes to P&L, Expenditure goes to Balance sheet (they are always assets).
If Resource Utilisation Period (RUP) precedes the Accounting period end date, it is Expense. If RUP is after the current Accounting period end date, it is expenditure. (i.e. there are unexpired costs and so are assets).
FY01 31/3/07 FY02
<---------------------------------------------------------------------->
RUP RUP
Expense Expenditure
a) Salaries - expense
b) Purchase of Material - expenditure
c) Insurance Prem (for 1-4-07 to 31-3-08) - expenditure
R&M and Capex:
Capex: Any financial txn which
a) increases the revenue
b) decreases the costs
c) Increases the useful life (beyond its intended/original life).
a) Debottlenecking in the plant - Capex (as it increases throughput)
b) Replacing petrol engine cars with diesel engine cars - Capex (savings in op. costs)
c) Replacement of SS Piping - R&M
d) Remaking of engine to extend useful life of car - Capex
Day 2
There were 3 sessions on day 2.
Session 1,2: Prof Dixit introduced the team to Case method of learning.
take away: structure of a case method dicussion - Initiation, Challenge, Buildup.
Any statement submitted must be "rooted" in the problem being dicussed (not out of context examples etc.), should be concrete, should be Complete, should be Consistent. State all the assumptions that are being made.
Session 3: Introduction to Financial, Managerial and Tax Accounting Basics. Balance sheet was discussed.
Session 1,2: Prof Dixit introduced the team to Case method of learning.
take away: structure of a case method dicussion - Initiation, Challenge, Buildup.
Any statement submitted must be "rooted" in the problem being dicussed (not out of context examples etc.), should be concrete, should be Complete, should be Consistent. State all the assumptions that are being made.
Session 3: Introduction to Financial, Managerial and Tax Accounting Basics. Balance sheet was discussed.
Day 1
At the KLMDC reception, we were handed a welcome kit (textbooks, reading material) and keys to the allotted room. Building is good, rooms, food are decent. At 4pm, there was a welcome address by Prof. Gandhi. Also got to see all the participants. One interesting observation was that only 4 to 5 participants were from IT industry. Rest 90% were from manufacturing, Textiles etc. There were participants from Automobile, Ceramics, Interiors, Metals, PVC pipes etc. Participants were devided into 8 groups of 6 each. For Monday, we had to read 2 case studies and discuss within the group.
Why this blog
When I was looking for information on SME over internet, did not find any. I went by IIMA label and applied for it. Just finished the first week and it has been a great experience. I got many multiples of what I expected. This is an effort to summarise some of the learning, so it can be useful for future aspirants. It can also be a place where all the batchmates can exchange their views and .......
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