Easy remembrance of anything is made possible when we are able to associate. Numbers and Alphabetic acronyms are the best to start, stories apart.
This is an article conceived several years before and present trigger to write this is a recent news of Zero waste management. Easy remembrance of anything is made possible when we are able to associate. Numbers and Alphabetic acronyms are the best to start, stories apart.
There is no dearth of acronyms and jargons in management terminologies. Reaching the common man is the challenge, for everyone is part of management in their own ways. Do not get this for often used “inclusiveness”, which is more in paper for many yet. This is just an attempt to refurbish what we all know but seldom practice. Reasons are many, but common ones are opportunities and empowerment.
Every single person in an organisation irrespective of level and everyone who is associated with are expected to add value. Value addition is best understood only in two forms - either additional usage value to the customer and increase in bottom line to the organisation, which comes either due to increased sales or lower costs. Therefore, Man as in “Man-agement” is an investment and not a mere entity in organisational parlance. Or that is how it should be.
1. ZERO:
Modern consumerism has made it all important today, necessitating it to be treated as “Shunya”. But Zero is much more - it is all powerful and therefore is “Poojyam”. In Business, Zero brings in a lot of prosperity - Zero Waste, Zero Failures, Zero Rejections, Zero Maintenance, Zero Breakdowns, Zero attrition, Zero absenteeism, to name of few. Let’s work towards Zero, for our own good - begin with Zero wastes and Zero investments in things that may not add value to human life.
2. PEOPLE - Single Most Important Factor
Single most aspect of life is People, not only in management. While all others can be equated to static, it People who make management lively and Dynamic. While other assets can be managed with equanimity, People management is unique and interesting. It is multifarious, but key to success - either in personal life or professional or business. You call it networking or socialising, every investment in People Relationship is worth.
3. Profitability & Growth - The Vital Two for Organisational Existence
One cannot be at the expense of other, though strategies can be complimentary. Overall it should always be improvement in Profitability and sustainable Growth.
4. Product, Process & Price - Three Key elements of Success
A good Product from users and application perspective is a key element in Business Design. One a Right Product (or Service) is conceived, Right Process and appropriate Pricing enables Business to progress.
5. The 4Is
Interrogate - Questioning is important for Growth and it should be encouraged.
Initiate - After satisfactory Questioning, action through Initiation is required to move ahead.
Integrate - Interrogation & Initiation has to align with Business Goals and Objectives and hence, should be part of the Business Process.
Innovate - Continuous change in both products and processes will ensure sustained success.
Innovation should be a core business process and not just another fad.
6. 5S and 5 Whys:
Time tested and proven Japanese Management philosophies which will never be left out, if looking for both professional and business efficiency & effectiveness. 5 S helps to be more organised and efficient and 5 Whys, to be effective.
7. Six Sigma:
A management tool revolutionised by Motorola and GE for controlling Business Process Variations. When combined with Design of Experiments (DOE), helps businesses minimise the risks of failures or increase the probability of success.
8. Seven Epsilon:
Most statistically powerful tool yet used for process improvements with specific focus on product deliverables. When adopted well, ensuing results help to deliver quality products consistently and in a cost effective manner.
9. 8 Ds
Drive & Discipline in right Direction, focusing on Dos, ignoring Donts, with strong Determination, Diligently Detaching from non-essentials is a must for continuous improvement and growth.
10. A to I – The 9 Critical to Success Alphabetic Essentials
Ability - to adapt to changing circumstances
Benchmarking - process wise, across industries for best business outcomes
Concern - for Ecological & Economic Balance for sustainable development
Discipline - Self-discipline for Moral and Ethical well-being
Effectively Efficient - For long-run success
Focus - Doing what is required and not doing what is not required
Goodness - Overall Goodness of all stake holders is important
Honesty - is still the best policy for continued growth
Integrity - Mutual Integrity and respect for involved work atmosphere.
These are just a means to look at Management from easier perspective. List can be exhaustive as one deems necessary.