SWOT ANALYSIS in FAB

Table for Various Expert Comments at a Glance -FAB/F1

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Table for Various Expert

(1)Mendelow Suggests that stakeholders may be positioned on a matrix whose axes are power held and likelihood of showing an interest in the organisation activities. (Interest-Power –High/low) 1.Keep Satisfied (Power high and  interest high 2. Keep Informed (Power and interest low)

(5) Mintzberg He believes that all organisations can be analysed into five components –                 1. Strategic Apex (Carried out by Senior Management)          2. Middle Line  (Carried out by middle manager)             3. Operating Core (Carried out by supervisor)          4.Technostructure         5. Support Staff

(5)Handy Handy calls the flexible firm is Shamrock Organisation as a core of essential executives and workers supported by outside contractors and part time help. This structure permits the buying-in of services as needed,with consequent reductions in overhead costs. It is also known as the flexible firm. (Shamrock Organisation – 1.Self Employed 2. Contingent 3. Professional 4. Consumers)

(5) Scalar Chain The chain of command from the most senior to the most junior

(5) Delayering Reduction of the number of management levels from bottom to top.

(5) Robert Anthony He classified managerial activitiy as                  1. Strategic Management 2. Tactical Management 3. Operational Management

(6) Marketing Mix (4p’s) Is  the set of controllable variables and these variables are Product, Price, Place and Promotion (4Ps)

(6)Hofstede Culture is “the collective programming of the mind which distinguishes the members of one category people from another.

(6) Edgar Schein Organisation culture as “the set of shared, taken-for-granted implicit assumptions that a group holds and that the determines how it perceives thinks about and reacts to its environments. He calls ‘The residue of success.’ His model describes three determinants of culture 1.      Level1- Behaviour, Artefacts (dress codes and symbols), Attitude (behaviour) 2.      Level-2- Values and belief 3.      Level-3- Assumptions

(6) Mullins (Organisation Culture) The collection of traditions, values, policies, beliefs and attitudes that constitute a pervasive context for everything we do and think in an organisation.

(6) Schwartz & Davies (Organisation Culture) A patterns of beliefs and expectations shared by the organisations members and which produce norms which powerfully shape the behavior of individuals and groups in the orgnisation.

(6)Harrson & Handy Harrison classified four types of culture, to which Handy gave the names of Greek deities Harrison          Handy Power              Zeus    = One individuals Role                 Apollo = Rules and procedure Task                Athena            = Outputs and Results Existential/      Dionysus= Interest of individuals Personal

7 Corporate Governance Corporate governance is the system by which organisations are directed and controlled by senior officers.

(7)Stewardship Theory Some approaches to good governance view the management of an organisation ias the stewards of its assets, charged with their employment and deployment in ways consistent with the overall strategy of the organisation. With this approach , power is seen to be vested in the stewards, that is the executive managers.

(6) The Hofstede Model The Hofstede model describes four main dimensions of difference between national cultures which impact on all aspects of management and organisational behavior: Motivation, Team working, leadership style, conflict management and HR policies. 1. Power Distance 2. Uncertainity Avoidance 3. Individualism-collectivism 4. Masculinity-Femininity

(7)Agency Theory The theory is that management seek to service their own self-interest  and look after the performance of the company here its goals are co-incident with their own.

(7) Milton Friedman he argued against corporate social responsibilities bcz he feels that Business do not have responsibilities, only people have responsibilities.

(9) SPAMSOAP Segregation of duties, Physical, Authorisation, Management, Supervision, Organisation, Arithmetical and accounting, Personnel.

(11)Henry Fayol  Five functions of Management: Planing, Organising, Commanding, Co-ordinating and controlling

(11) FW TAYLOR Taylor was a very skilled engineer and he took an engineering efficiency approach to management that called  Scientific Management

(11) Mayo (Human Relation) He investigated individual and group behavior at work. Managers need to consider the complexity of human behaviour.

(11) Peter Drucker Drucker emphasised the economic objective of management in business. He argued that the manager of a business has one basic function –Economic Performance. Management Task: Managing a business, Managing Managers, Managing workers and work.

(11) Henry Mintzberg –Classical View of the manager (The manager’s role) Mintzberg described managerial roles, arguing that management is a disjointed, non-systematic activity. Their role 1. Interpersonal (Figurehead, Leader, Liaision), Informational (Monitor, Spokesman, Disseminator), Decisional (Entrepreneur, Disturbance handler, Resource allocator, Negotiator)

(11)Terry Leadership The activity of influencing people to strive willingly for group objectives. (11)Tannenbaum et al Leadership Interpersonal influence exercised in a situation and directed, through the communication process, towards the attainment of a specialised goal or goals.

(11) Trait (Leadership) Leaders are born not made Quality: Judgment, Drive, Fairness, Energy, Initiative, Human relations skill, Ambition, Emotional stability,  Integrity, Decisiveness, Dedication, Co-operation, Foresight, Dependability, Objectivity

(11)The Ashridge Management College Model Tells (Autocratic), Sells (Persuasive) Subordinates have to be motivated to accept them , Consults –leaders discuss with subordinate but retains the final say, Joins (Democratic) Leaders and followers make the decision on the basis of consensus.

(11) Blake and Mouton’s Managerial Grid Concern for task (Task focused), Concern for peoples (Wholly people focused). 1.1- Impoverished (The manager is lazy and showing little interest in either staff or work) 1.9 – Country club (The manager is attentive to staff needs and has developed satisfying relationship. However there is a little attention paid to achieving the results) 9.9- Team High work accomplishment through leading committed people) 5.5- Middle Road (To get out work with tem morale) 9.1- Task (almost total concentration on achieving results. Peoples needs are virtually ignored)

(11) Fiedler’s Psychologically close (Manager keep closer to subordinates) and Psychologically distant (Manager keep distant from the subordinates) stiles.

(11) John Adair  Action-centred leadership John Adairs model is part of the contingency school of thought, because it sees the leadership process in a context made up of three interrelated variables: Task Needs, Group needs and Individual needs.

(11) Bennis The distinction between management and leadership The Manager administers and maintains, by focusing on systems and controls and the short term. The Leader innovates, focuses on people and inspires trust, and holds a long term view. (11) Heifetz Dispersed (Single) Leadership This approach recognises the importance of social relations, the need for a leader to be accepted and the fact that nobody will be an ideal leader in every circumstances.

(12) Belbin Belbin described a way of tailoring job design to delayered, team based structures and flexible working system,

(12) Alec Rodgers Seven point for Selection Process Physical make up, Attainment (Skill), General Intelligence, Special Aptitudes (Talents), Interests, Disposition (Personality), Circumstances     (Conditions)

(14) Belbin :Team Roles R Meredith Belbin : Ideally team members should perform a balanced mix roles. Belbin suggests : Co-ordinator, Shaper, Plant, monitor-evaluator, resource investigator, implementer, team-worker, completer-finisher and specialist.

(14) Rackham And Morgan Contribution of people People can make Proposing, Supporting, Seeking Information, Giving Information,  Blocking/difficulty stating, Shutting out behaviour, Bringing in behaviour, Testing understanding, Summarising.

(14) Tuckman Stages of group development Four stages in group development were identified by Tuckman. Forming, Storming, Norming, Performing, And other two stages are Dorming , Mourning/Adjourning.

(15) Huczynski and Buchanan Motivation is a decision-making process through which the individual chooses desired outcomes and sets in motion the behaviour appropriate to acquiring them.

(15)Motivation Theories Content theories: What are the things that motivate people? Process theories: How can people be motivated?

(15) Maslow Hierarchy of needs Psychological Needs, Safety Needs, Social/Love Needs, Esteem Needs, Self Actualisation.

(15) Herzberg- Two factor theory Herzberg identified two basic need system: the need to avoid unpleasantness and the need for personal growth. He suggested factors which could be offered by organisation to satisfy both types of need hygiene (salary, job security, working conditions, Company policy and administration)  and motivator (Status, Responsibility, Advancement, Challenging work, recognition by colleagues and management)  factors respectively.

(15) Vrooms Expectancy theory Expectancy theory basically sates that the strength of an individuals motivation to do something will depend on the extent to which he expects the results of his personal needs or goals. F= V x E (Force, Valence, Expectancy)

(15) Mc Gregor X and Y theory X (Workers have to be pressured), Y (Workers want to be empowered (allowed)

(15) Peter Honey and Alan Mumford Different people have different learning styles or preferences. They have drawn up four learning styles: Theorist seek to understand basic principles, Reflectors need to work at their own pace, Activists deal with practical and active problems, Pragmatists (practical problems)

(16) Kolb People can learn from everyday work experience, using the learning cycle of reflection, generalisation and application. Steps – 1. Have an experience 2. Reflect on the experience 3. Draw conclusion from the experience  4. Plan next steps

(16) Pedler, Burgoyne, Boydell Organisational Learning The learning organisation is an organisation that facilitates the learning of all its members by gathering and sharing knowledge, tolerating, experience and solving problems analytically.

(17) Lockett (Problems in Practice) Lockett (Effective performance management) suggest that barriers to effective appraisal can be identified as follows. Appraisal as confrontation, as judgment, as chat, as bureaucracy, as unfinished business, as annual event.

SMART Specific, Measurable, Attainable, Realistic and Time-bounded GAAP General Accepted Accounting Prcatice

ABCD Act, Bin it, Create a definite plan, Delegate

(19) Kant His approach to ethics, it is important to consider the consequences of an action in order to determine whether right or wrong

(3)Inflation Demand pull Inflation: Demand Is more than supply. Cost Push Inflation: Inflation resulting from an increase in the cost of production of goods and service, eg through isolating prices of imported raw materials or from wage increase. Inflationary Gap = Demand> Supply Deflationary Gap = Demand<Supply

Higher Interest rate The main interest rate is set by the Bank of England. This is known as the base rate. If the bank of England is worried that inflation is likely to increase then they may be decide to increase interest rates to reduce demand and reduce the rate of economic growth. Higher interest rates have various economic effects. 1. Increase the cost of borrowing, 2. Increase in mortgage interest payment 3. Increased incentive to save rather than spend 4. Higher interest rates increase the value of Pound. 5. Rising interest rates affect both consumers and firms. 6. Government debt interest payment increase. 7. Reduce Confidence.

Unemployment Cyclical: Boom, Decline, Recession, Recovery, the boom again Structural: Long term changes occur Technological: New Technology changes Real wage unemployment: Supply of labor  is excess of demand. Wage rate fixed by union

Coaching & Mentoring Both of them are informal learning. Business Values Hotter Honesty, Openness, Trust Transparency, Empowerment and Respect

IFAC Ethical Principal Confidentiality, Integrity, professional behavior, Objectivity, Professional competence and due care. Corporate Governance FORHARJI Fairness, Openness, Responsibility, Honesty, Accountability, Reputation, Judgment, Integrity

Discrimination Direct: When an interest group is treated less favourable. Indirect: When policy or practice is fair in form but discrimination in operation. Victimisation: When a person is penalised for.

Team Plant Solves difficult problems, Creative, Imaginative Resource investigator Explorer opportunities, Extrovert, enthusiastic, develop contacts. Coordinator (Chairman) Clarifies goals, promotes decision making well. Shaper (Challenging, Dynamic thrives on pressure) Has the drive and courage to overcome obstacles. Monitor-Evaluator (Sober, Strategic and discerning) Sees all options, judges accurately Team Worker (Cooperative, mild, perceptive and diplomatic) Listen, build, averts, frictions calms the water. Implementer (Disciplined, reliable, conservative and efficient) Turn ideas into practical action

(18)DRUCKER Communication Pattern Problem Solving Wheel (Fastest), Y= 2nd Fastest Chain (3rd fastest), Circle (Slow) Job Satisfaction Wheel (Lowest), Y= 3rd  Highest Chain (2nd Highest), Circle (Highest)

(1Coaching Formulating Implementing Monitoring Reviewing

Downsizing Downsizing is said to occur when a large number of employees are no longer required by the organization. Delayering

GDP (Gross Demestic Product) GDP measures the total value of all the goods and services that a country produces. GDP can be defined as the sum of all expenditures are consumption, investment, government purchases and net exports. (18)DRUCKER Communication Pattern Problem Solving Wheel (Fastest), Y= 2nd Fastest Chain (3rd fastest), Circle (Slow) Job Satisfaction Wheel (Lowest), Y= 3rd  Highest Chain (2nd Highest), Circle (Highest)

Committee Executive Standing AdHoc committee SubCommitteee Joint Committee Joint Committee Steering Committee Remuneration Committee: Directors Remuneration should set by this committee. Account should disclose remuneration policy. Belbin Team Role Plant Solves difficult problems, Creative, Imaginative Resource investigator Explorer opportunities, Extrovert, enthusiastic, develop contacts. Coordinator (Chairman) Clarifies goals, promotes decision making well. Shaper (Challenging, Dynamic thrives on pressure) Has the drive and courage to overcome obstacles. Monitor-Evaluator (Sober, Strategic and discerning) Sees all options, judges accurately Team Worker (Cooperative, mild, perceptive and diplomatic) Listen, build, averts, frictions calms the water. Implementer (Disciplined, reliable, conservative and efficient) Turn ideas into practical action

Money laundering Illegal arms sales, smuggling, embezzlement, insider trading, bribery, computer fraud schemes and the activities of organized crime can generate huge illegal profits for the individual or group that carries out the act. The substantial profits are likely to attract the attention of investigation authorities. In order to benefit from these profits and continue criminal activities without jeopardizing their sources, criminals must find a way to disguise the illegal origin, change the form, or move the illegal profits to a place where they are less likely to be exposed. The processing of these criminal proceeds is money laundering Money laundering often involves a complex series of transactions. Generally it includes three basic steps: placement, layering and integration. Launderers introduce their illegal profits into the financial system in the initial or placement stage of money laundering by breaking up large amounts of cash into less conspicuous, smaller sums. They then deposit the money directly into bank accounts, or purchase a series of monetary instruments (cheques, money orders, etc.) that are then collected and deposited into accounts at other locations. In the layering stage, launderers engage in a series of conversions or movements of the funds to distance the dirty money from its source by channeling it through the purchase and sales of investment instruments, or wiring them through a series of accounts at various banks across the globe. In the integration stage, launderers choose to re-enter the legitimate economy by investing the funds into real estate, luxury assets, or business ventures, etc.