IM 323 INDUSTRIAL ORGANIZATION AND PERSONNEL MANAGEMENT

ENGAGE:

Question: What do you think is the best quality of a manager?

You’ve put in the effort, you’ve honed your skills, and you’re finally a manager. While this is great news,
being proficient at your job doesn’t necessarily equate to being a great manager. When you manage
people, you are responsible for inspiring, motivating, and encouraging them. It’s no longer just about
you and what you bring to the table — you need to get others to bring all they can to the table, too.
Essentially, being a manager is about more than just hard skills. When you consider the qualities of a
good manager, you’ll notice that they can’t all be proven and measured. Some of the qualities will turn
you from a good manager to a great leader — these are known as “soft skills,” or “interpersonal skills.”
These skills are so valuable, in part, because they are harder to learn. They are developed over time as
you observe, interact, and work with your teammates to help them become more productive. Soft skills
are vital for effective leadership and performance management.

LEARNING CHECK:
Imagine yourself as manager, what would be your program of these 3 areas of the business?
Technology and equipment, this involves not only equipment needed to operate the business, but such
concerns as communications technology for marketing and sales purposes, or transportation
requirements. Understand your needs and balance them with budget demands. Also, the planner may
have to be creative when managing technology and equipment. For example, some equipment may be
expensive and sit idle most of the time. The planner should then consider renting it as needed, or
subcontracting that aspect of production to another company that has that equipment.
 KNOWLEDGE-BUILDING
ASSESMENT TASK 1: EXPLAIN THE FUNCTION

PRODUCTION MARKETING FINANCE

Marketing is the process of Financial managers generally

satisfying the needs and wants oversee the financial health of
Production Management refers
of the consumers. Management an organization and help
to the application of
of marketing activities is ensure its continued viability.
management principles to the
Marketing Management. They supervise important
production function in a
Management Guru Philip Kotler functions, such as monitoring
factory. In other words,
defines marketing as “Marketing cash flow, determining
production management
Management is the analysis, profitability, managing
involves application of
planning, implementation and expenses and producing
planning, organizing, directing
control of programs designed to accurate financial information.
and controlling the production
bring about the desired The financial manager's
process. The production
exchanges with target audiences responsibilities include
function's aim is to add value. If
for the purpose of personal and financial planning, investing
it's a product or a service, the
mutual gain. It relies heavily on (spending money), and
goal is to create something that
adoption and coordination of the financing (raising money).
strengthens the organization's
product, price, promotion and Maximizing the value of the
relationship with its customers.
place for achieving response”: In firm is the main goal of the
other words, a business financial manager, whose
discipline, which is focused on decisions often have long-term
the practical application of effects.
marketing techniques and the
management of a firm’s
CRITICAL THINKING
ASSESMEN TASK 2: SITUATIONAL ANALYSIS

1. If you are the owner of Coke, how would you strategize your functions (Marketing, Financial
And Operations) to win the competition with Pepsi?

MARKETING- Product
MARKETING
 Creating a marketing campaign starts with an understanding of the product itself. Who needs it,
and why? What does it do that no competitor's product can do? Perhaps it's a new thing
altogether and is so compelling in its design or function that consumers will have to have it
when they see it.
 Price is the amount that consumers will be willing to pay for a product. Marketers must link the
price to the product's real and perceived value, while also considering supply costs, seasonal
discounts, competitors' prices, and retail markup.
 Place is the consideration of where the product should be available, in brick-and-mortar stores
and online, and how it will be displayed.

The decision is key: The makers of a luxury cosmetic product would want to be displayed in
Sephora and Neiman Marcus, not in Walmart or Family Dollar. The goal of business executives is
always to get their products in front of the consumers who are the most likely to buy them.
 The goal of promotion is to communicate to consumers that they need this product and that it is
priced appropriately. Promotion encompasses advertising, public relations, and the overall
media strategy for introducing a product. Marketers tend to tie promotion and placement
elements together to reach their core audiences. For example, In the digital age, the "place" and
"promotion" factors are as much online as offline. Specifically, where a product appears on a
company's web page or social media, as well as which types of search functions will trigger
targeted ads for the product.
FINANCIAL
 Start With a Written Plan
Having a clear plan for your goals can keep you from going off-course. In making your plan,
remember to incorporate four things:
 A specific objective or result you want
 A way to measure your progress towards the goal
 A time frame for achieving your goal
 The specific steps you need to take in order to reach your goal
Visualize Your Money Goals
Visualization can be a powerful tool for reaching your financial goals. There are several ways to
incorporate visualization into your goal-setting strategy. You could create a financial vision
board featuring images of things that reflect your goal. Developing a mantra or meditation that
reinforces your goal is another powerful visualization method. Choose one that’s specific and
easy to remember, so you can repeat it to yourself throughout the day.
 Consider Focusing on Short-Term Goals First
You likely have both short- and long-term money goals in mind, but prioritizing shorter-term
goals could give you a momentum boost. They typically require less effort so you won’t get
burnt out. For example, you may be deciding between starting to invest or paying off the last
few thousand dollars you owe in student loan debt. Focusing on the debt might mean delaying
 your investment plans a little longer but it’s a trade-off you may be willing to make if you’re
ready to ditch those loans for good.
OPERATION
 Operations strategies drive a company’s operations, the part of the business that produces and
distributes goods and services. Operations strategy underlies overall business strategy, and both
are critical for a company to compete in an ever-changing market. With an effective ops
strategy, operations management professionals can optimize the use of resources, people,
processes, and technology. In the book Operations Strategy, authors Nigel Slack and Michael
Lewis define the term. “Operations strategy is the total pattern of decisions which shape the
long-term capabilities of any type of operations and their contribution to the overall strategy,”
they write. Technology and business models are rapidly changing, so businesses must keep pace
and look to the future. “Those who get stuck on their own paradigms…perish,” says Tim Lewko,
CEO and Managing Partner of Thinking Dimensions Global. This article will provide an overview
of operations strategy including purpose, examples, types, process, and how to write a plan.
You’ll also hear in-depth insights from seven professionals, including a look at what the future
may bring.
CREATING
ASSESMENT TASK 3: Your-Soon-to-be Industry