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Planning. Manpower Planning. Manpower Management is choosing the proper type of people as and when required. It also takes into account the upgrading in existing people. Manpower Management starts with manpower planning.
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Manpower Planning • Manpower Management is choosing the proper type of people as and when required. • It also takes into account the upgrading in existing people. • Manpower Management starts with manpower planning. • Every manager in an organisation is a personnel man, dealing with people.
Definition and importance of Manpower Planning: • To Fail to plan is to Plan to fail • Planning is nothing but using the available assets for the effective implementation of the production plans. • After the preparing the plans, people are grouped together to achieve organisational objectives. • Planning is concerned with coordinating, motivating and controlling of the various activities within the organisation. • Time required for acquiring the material, capital and machinery should be taken into account. • Manager has to reasonably predict future events and plan out the production.
Definition and importance of Manpower Planning: • The plans need to be supported by all the members of the organisation. • Planning is making a decision in advance what is to be done. • Nothing carved in stone
Advantages of manpower planning: 1. It is useful for organisation. 2. It generates facilities to educate people in the organisation. 3. It provides smooth working even after expansion of the organisation. 4. It opens possibility for workers for future promotions, thus providing incentive.
Advantages of manpower planning: 5. It creates healthy atmosphere of encouragement and motivation in the organization. 6. Training becomes effective. 7. It provides help for career development of the employees.
Steps in Manpower planning 1. Predict manpower plans. 2. Design job description and the job requirements 3. Find adequate sources of recruitment. 4. Best motivation for internal promotion. 5. Look after the expected losses due to retirement, transfer and other issues. 6. See for replacement due to accident, death, dismissals and promotion.
Factors which affect the efficiency of labour: • Inheritance: Persons from good collection are bound to work professionally. The quality and rate of physical as well as mental development, which is dissimilar in case of different individuals is the result of genetic differences. • Climate: Climatic location has a definite effect on the efficiency of the workers. • Health of worker: worker’s physical condition plays a very important part in performing the work. Good health means the sound mind, in the sound body. • General and technical education: education provides a definite impact n the working ability and efficiency of the worker.
Factors which affect the efficiency of labour: 5. Personal qualities: persons with dissimilar personal qualities bound to have definite differences in their behaviour and methods of working. The personal qualities influence the quality of work. 6. Wages: proper wages guarantees certain reasons in standard of living, such as cheerfulness, discipline etc. and keep workers satisfy. This provides incentive to work. 7. Hours of work: long and tiring hours of work exercise have bad effect on the competence of the workers.
Performance Optimisation in the Hospitality Industry Performance Optimisation - MANAGEMENT INFORMATION SYSTEM-
Management Information Systems • A management information system (MIS) is a system or process that provides the information necessary to manage an organiSation effectively. • A MIS and the information it generates are generally considered essential components of prudent and reasonable business decisions. • Efficient management information systems (MIS) enable management to: • plan, • co-ordinate, • organise and • control
The MIS parameters • MIS is viewed and used at many levels by management. • MIS provides the information needed for: • strategic planning; and • day to day operations
Defining Strategy “The art of planning and directing large military movements and the operations of war.” In business, a strategy maps out the future, setting out which products and services you will take to markets – and how. A strategic plan establishes how to sell products and services to specific markets excellently and competitively.
Measuring strategic success • The success of a strategy must be measurable. • Strategic information requirements include data on: • business ratios (ROCE; Ratios of debt to interest payable on borrowed money; • current trends in external capital markets; • the firm’s liquidity position; • aggregate cash flow forecasts; • market research etc…
Tactics Tactical goals focus on how to operationalize actions necessary to achieve the strategic goals
Tactical Information • Tactical information needs might involve ratios of: • profits to working capital • Stock to current assets • Sales to output • Rates of return on specific investment profits • Information on production bottlenecks, capacity constraints etc…
Debtors and Suppliers • An important MIS function is to highlight potential difficulties with debtors and suppliers • What, for example is the average delay between delivery of goods and the issue of invoices? • How quickly do customers settle their accounts? • What are the effects of offering discounts for prompt payment? • What is the ratio of creditors to purchases? • How long, on average, do suppliers take to deliver goods, and to what extent can payments to suppliers be delayed? • Other categories of information that an MIS should supply include the following:
Market information Effectiveness of sales personnel; Responsiveness of sales to price changes; Market trends; Behaviour of competitors; Adequacy of distribution channels.
HR information Leave (sick or vacation) Overtime Injuries Males and Females Age for succession planning Training events Discipline
Financial information Whether budgets are being adhered to; Length of trading cycles; Adequacy of cash inflows; Need for external financing.
Work in progress information Ratios of work in progress to production, stock to sales, etc… Identification of slow moving stock; Frequency and causes of stock-outs; Stockholding costs; Causes of machine breakdown and other interruptions in production.
MIS Goals • An institution's MIS should be designed to achieve the following goals: • Enhance communication among employees. • Deliver complex material throughout the institution. • Provide an objective system for recording and aggregating information. • Reduce expenses related to labor-intensive manual activities. • Support the organisation's strategic goals and direction. • Performance optimisation
Installation of an MIS • To install an MIS it is necessary to consider: • when, how and to whom information has to be transmitted; and • how best to summerise data in a form that enables its fast and accurate evaluation prior to taking decisions.
Management Hierarchy Detailed Information
Benefits of MIS • MIS also enhances performance management throughout an institution. • At the most senior levels, it provides the data and information to help the board and management make strategic decisions. • At other levels, MIS provides the means through which the institution's activities are monitored and information is distributed to management, employees, and customers. • Because MIS supplies decision makers with facts, it supports and enhances the overall decision making process.
Effective MIS Effective MIS should ensure the appropriate presentation formats and time frames required by operations and senior management are met. MIS can be maintained and developed by either manual or automated systems or a combination of both. It should always be sufficient to meet an institution's unique business goals and objectives. The effective deliveries of an institution's products and services are supported by the MIS. These systems should be accessible and useable at all appropriate levels of the organization.
Analysing decision-making A decision is a judgement or choice between two or more alternatives, and arises in an infinite number of situations from the resolution of a problem to the implementation of a course of action . Part of a manager’s role is having to make a series of large and small decisions. Reaching the right decision in every situation is an ambition is well worth striving to achieve.
Information and decision-making • The process of decision making depends on having access to accurate, detailed information. • Timely • Accurate • Relevant • Cost effective • Systematic methods of reaching decisions can assist creativity. • A systematic approach enables you to prepare a logical and effective plan of action so that your decision process can be explained clearly to any colleagues or clients who are affected.
Information and decision-making All objections should be taken seriously when making decisions. Taking a well-understood, acceptable risk is preferable to taking unknown chances. It is better to think systematically than to jump to conclusions. Avoid making decisions that have a large element of chance in them.
Decision support • Effective control requires the collection, summary and evaluation of data prior to taking decisions. • A decision support system (DSS) comprises an integrated collection of computing tools for solving problems and taking decisions. • Key elements of a DSS are: • a database containing factual information; • a spreadsheet; • modelling and graphics programs; and • Programs for data manipulation and statistical analysis
Decision support DSS software provides a framework for breaking problems down into constituent parts plus a means for specifying decision criteria; ‘What if’ and other sensitivity analyses then become possible; Managers using DS systems are able to call up and instantly summerise huge quantities of data, may formulate models for analysing likely consequences of various courses of action and can select the criteria on which final decisions will be based. Accordingly, the managers involved need to know the models and software available; Their assumptions, uses and limitations, and about hypothesis testing and elementary operations research.
Risks Risk reflects the potential, the likelihood, or the expectation of events that could adversely affect earnings or capital. Management uses MIS to help in the assessment of risk within an institution. Management decisions based upon ineffective, inaccurate, or incomplete MIS may increase risk in a number of areas such as credit quality, liquidity, market/pricing, interest rate, or foreign currency. A flawed MIS causes operational risks and can adversely affect an organization's business going concern.
Risk Management • MIS is a critical component of the institution's overall risk management strategy. • MIS supports management's ability to perform such reviews. • MIS should be used to recognize, monitor, measure, limit, and manage risks. • Risk management involves four main elements: • Policies or practices. • Operational processes. • Staff and management. • Feedback devices.
Operational & Informational MIS • Frequently, operational processes and feedback devices are intertwined and cannot easily be viewed separately. • The most efficient and useable MIS should be both operational and informational. • As such, management can use MIS to measure performance, manage resources, and help an institution comply with regulatory requirements. • One example of this would be the managing and reporting of loans to insiders. • MIS can also be used by management to provide feedback on the effectiveness of risk controls. • Controls are developed to support the proper management of risk through the institution's policies or practices, operational processes, and the assignment of duties and responsibilities to staff and managers.
MIS and technology • Technology advances have increased both the availability and volume of information management and the directors have available for both planning and decision making. • Correspondingly, technology also increases the potential for inaccurate reporting and flawed decision making. • Because data can be extracted from many financial and transaction systems, appropriate control procedures must be set up to ensure that information is correct and relevant. • In addition, since MIS often originates from multiple equipment platforms including mainframes, minicomputers, and microcomputers, controls must ensure that systems on smaller computers have processing controls that are as well defined and as effective as those commonly found on the traditionally larger mainframe systems.
Achieving Sound MIS The development of sound MIS is the result of the development and enforcement of a culture of system ownership. An "owner" is a system user who knows current customer and constituent needs and also has budget authority to fund new projects. Building "ownership" promotes pride in institution processes and helps ensure accountability.
Cost benefit Although MIS does not necessarily reduce expenses, the development of meaningful systems, and their proper use, will lessen the probability that erroneous decisions will be made because of inaccurate or untimely information. Erroneous decisions invariably misallocate and/or waste resources. This may result in an adverse impact on earnings and/or capital.
Practical Difficulties • Relevant information might not reach the right people. • Managers commonly assume that colleagues and subordinates have been informed of particular facts when, actually, they have not. • Breaks in the chain of command. • Information should flow vertically through the enterprise from its top to its bottom via the channels illustrated in its organisation chart. Often, information ‘bottlenecks’ occur at supervisory and middle management levels since supervisors and middle managers not only receive information from above (and have to decide whether to act on it) but also collect feedback from lower levels.
Practical Difficulties Breaks in horizontal flows. Horizontal flows of information among colleagues of equal rank may be interrupted if certain individuals deliberately conceal information or – through incompetence – do not pass it on.
