ASSIGNMENT ON

SMT, MDCs, MIS, Policy, Induction, Ethics,

Emotions, Stakeholders, Job rotation, Trunkey
project.

Course Tittle: Research Methodology

Course code: MGT-407
Submitted By Submitted To
Golam Mostofa Dr. Omar Faroque
ID: 17MGT033 Assistant professor
Session: 2017-2018 Department of Management studies
Dept: Management Studies BSMRSTU, Gopalganj.
BSMRSTU, Gopalganj.

Date: 03-11-2022
Contents
SMT: SELF MANAGED TEAM .............................................................................................. 4

Meaning of Self-managed teams: .......................................................................................... 4

Benefits of self-managed teams: ............................................................................................ 4

MDCs: MULTIDOMESTIC CORPORATIONS ...................................................................... 4

Meaning of MDCs: ................................................................................................................ 4

Multi-Domestic Company Characteristics:............................................................................ 5

MIS: MANAGEMENT INFORMATION SYSTEM ................................................................ 5

Definition: .............................................................................................................................. 5

Meaning of MIS: .................................................................................................................... 5

Objectives of MIS: ................................................................................................................. 6

POLICY ..................................................................................................................................... 6

What are the company policy: ............................................................................................... 6

An effective business policy should cover the below features: ............................................. 6

INDUCTION ............................................................................................................................. 7

Meaning of Induction:............................................................................................................ 7

Induction may be formal or informal: .................................................................................... 7

Necessity and Importance of induction: ................................................................................ 7

ETHICS...................................................................................................................................... 8

Meaning of ethics:.................................................................................................................. 8

What are business ethics? ...................................................................................................... 8

Effects of a Lack of Ethics on a Business Environment: ....................................................... 8

EMOTIONS ............................................................................................................................... 9

Meaning of emotions: ............................................................................................................ 9

Why emotions are important for business? ............................................................................ 9

STAKEHOLDERS .................................................................................................................. 10

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 What is a Stakeholder?......................................................................................................... 10

Stakeholder Examples:......................................................................................................... 10

Impact of stakeholders on business: .................................................................................... 10

JOB ROTATION ..................................................................................................................... 11

Meaning of Job Rotation:..................................................................................................... 11

Purpose of Job Rotation: ...................................................................................................... 11

TRUNKEY PROJECT............................................................................................................. 12

Meaning of Trunkey project: ............................................................................................... 12

Benefits of turnkey projects: ................................................................................................ 12

Reference: ................................................................................................................................ 13

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 SMT: SELF MANAGED TEAM

Meaning of Self-managed teams:

A self-managed work team is a group of employees who take entire responsibility for providing
a service or product through peer co-operation without a manager’s guidance.
Under this model, team members take responsibility of their workflow, processes, schedules,
roles, and more. Team members ensure commitments to each other, and those commitments,
rather than hierarchy, drive the work.
They differ from the traditional organizational structure in which a manager delegates tasks to
employees while finally being accountable for the final product. Instead, these teams manage
the production of a product and also delivery of a service with minor oversight from a manager.
These teams also determine deadlines, schedules and modes of communication.

Benefits of self-managed teams:

Self-managed teams ensure a variety of well-being, depending on your organization, project,
and team make up.
Some of these benefits include:
➢ Enhanced innovation: When employees are given full leeway to solve their own problems
and manage their own activities, innovation and creativity quickly follow. That’s because
employees are given direction, and then empowered to find their own way to the desired
outcomes.

➢ Increased productivity: Employees are ensured entire ownership over their respective areas
of expertise and project outcomes. This helps to support entire commitment and staff
engagement, in turn increasing productivity for both individual employees and the team as a
whole.

➢ Minimized pressure on managers: Middle and senior level managers handle most of the
burden when it comes to monitoring teams, organizing projects, and completing administrative
and organization activities. By removing these burdens, and empowering their teams, managers
are freed to do more impactful work.

MDCs: MULTIDOMESTIC CORPORATIONS

Meaning of MDCs:
A multidomestic corporation is a multinational corporation that performs on a localized
management formation.” It decentralizes rather than centralizing and taking every decision
making from a primary location. It authorizes presidents, managers, or their equivalents and
also others in the operating country for taking the decisions making. So, Multidomestic
Corporation, that decentralizes management and other decisions making to the local country.

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Instead of centralizing and making all decisions making from one primary location, the
multinational corporation decentralizes all of decision making and operating strategy.
There are Some examples of multidomestic corporations are Coca-Cola, Wal-Mart, Honda,
Phillips and Nestle.

Multi-Domestic Company Characteristics:

The main characteristics of multi-domestic companies include:
➢ Cultural awareness - Multidomestic companies are enlarged based on the culture of the
host country. As a firm moves into the business environment within another nation, it
generates different requirements. Business organizations opt to desire a multi-domestic
strategy to customize their products to reach the requirements of the local markets and the
local culture.
➢ Independent branches — In wealthy multi-domestic corporations, the separate branches
of the corporation are often independent. Although these branches found on the same
sources of finances, they can individually identify and manage their suppliers from one
another. This branch independence operates the business easily balance to the local
circumstances.
➢ Decentralization — A company that makes a multi-domestic strategy is more
decentralized than the multinational and traditional global corporations. It is because it
authorizes the management of every country to operation to some autonomous degree and
adopt exercises that differ from one another. Hence, ensuring these companies more
flexible and adapting to different business environments.

MIS: MANAGEMENT INFORMATION SYSTEM

Definition:
Management Information System or 'MIS' is a planned system of collecting, storing, analyzing
and disseminating data in the form of information needed to carry out the functions of
management.

Meaning of MIS:
A management information system (MIS) is a computer-based system consisting of hardware
and software that provides as the backbone of an organization’s operations. An MIS collects
data from various online systems, analyzes the information, and describe data to support in
management decision. Management Information Systems (MIS) is the study of people,
technology, organizations, and the relationships among them. MIS professionals assist firms
acquire maximum benefit from funding in personnel, equipment, and business activities. MIS
is a people-oriented field with a significance on service through technology. If you have an
attentiveness in technology and have the preference to use technology to develop people’s
lives, A degree in MIS may be for you.

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 Objectives of MIS:
The objectives of an MIS are to development the organizational structure and changing of the
enterprise for the purpose of operating the organization in a perfect way and catching the
potential of the information system for competitive advantage and decision making.
There are the main objectives of an MIS −
➢ Collecting Data – collecting contextual data, or functional information that will help in
decision making from different internal and external sources of institution.
➢ Processing Data- The collected data is processed into information required for planning,
organizing, coordinating, directing and controlling activities at strategic, tactical and
functional level.
➢ Information Storage- Information or processed data require to be stored for later.
➢ Information Recovery -The system should be able to recover this information from the
storage as and when needed by various users.

POLICY
What are the company policy:
A policy is a set of ideas or plans that is used as a basis for taking decisions, mainly in politics,
economics, or business.
A business policy is a set of rules and regulations defined by the owner or top level of the
organizations. Sometimes, it permits the lower-level management to deal with the problems
and issues without consulting top level management every time for decisions. Business policies
are the instructions managed by an organization to govern its activities. Business policy also
deals with acquisition of resources with which organizational objectives can be attained. So,
Business policy is the study of the roles and duties of top-level management, the remarkable
issues affecting organizational objectives and the decisions affecting organization in long-run.
So, Company policies are instructions that assist employers deal with the health, safety,
responsibility and accountability of employees, as well as their guidelines with customers or
clients. Business policies can also be used as an instruction for federal or state regulatory
necessity, legal issues and other circumstances that can lead to severe results for employees.

An effective business policy should cover the below features:

➢ Distinct: A business policy should be distinct. Because, uncertainty often causes confusion.
➢ Understandable: A business policy should be understandable to prevent misunderstandings.
➢ Authentic: A standard business policy can easily be followed by the employees.
➢ Appropriate: A policy should be appropriate with organizational goals and objectives.
➢ Simple: A policy is often easy to understand and follow.
➢ Comprehensive: A policy should be able to cover a wide range and include everybody.
➢ Stable: A policy should be fixed during the development and it should be able to stay standing
if an unexpected event happens.
➢ Flexible: A policy should remain appropriate when the parameters in the industry or the
marketplace changes.

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 INDUCTION
Meaning of Induction:
Induction is the process of introducing a fresh employee to the organization culture and
processes with the aim of bringing them up to speed as quickly as possible as well as building
them feel socially enjoyable and conscious of their professional responsibilities. Companies
will normally have an induction programmed in place and follow the same processes for all
new hires, although the induction process is may vary depending on the industry, the job role
and the seniority of the new hire. So, Introducing the fresh employee who is nominated as a
probationer to the job, job area, circumstances, organization, organizational circumstances, and
many employees is the final step of employment process. Several companies do not lay
emphasis on this function as they view that this function will be automatically completed by
the colleagues of the new employees. So, Induction defined as the new hired employee to the
job is known as induction in which they are introduced to the practices, policies, rules and
regulations and purposes of the organization.

Induction may be formal or informal:

Informal induction is an unplanned induction and is carried out by small organizations. Formal
induction is a preplanned and predetermined induction process. It is accomplished in large
organizations. In formal induction a programmed is attentively organized to introduce the new
employee to his job, co-worker and organization. A formal induction may take more time but
it outputs in new employees learning more about their jobs.
A good induction programmed should include the following:
❖ Brief history of the company, the company’s products, industry and competitors
❖ The mission, vision and goals of the company.
❖ Policies and procedures of the organization.
❖ The organizational formation and the different departments in the company.
❖ Information about the employees’ job, its importance and the risks and threat related with
the job.
❖ The career development and career advancement opportunities obtainable to the employee.

Necessity and Importance of induction:

Induction, also known as orientation, is a process of creating the fresh employee familiar with
the job environment and the fellow employees. The fresh employee can be inducted into the
company by presenting his job, observe workers, supervisors and his subordinates. He should
be oriented to the new company and its regulations and policies.
Minimizing Anxiety of fresh Employees – An employee’s first impression is the last
impressions. If a fresh employee is made to feel welcome and comfortable in the new
circumstances, particularly by his immediate senior and colleague his anxiety would minimize
and he would have the positive viewpoint towards the company and his job.

Reducing Reality Shock – Each employee has some hopes when he joins his new job and
when these expectancies do not match with the actual situation, the employee skills a reality

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shock. An effective orientation programmed assists in minimizing these reality shocks by
providing more actual expectations to the fresh employees.
Minimizes Employee Turnover – If a fresh employee makes the impression of being
unwanted or unsuccessful, he may react to these feelings by resigning. Turnover is normally
high during this initial stage and the better orientation in this phase can minimize this costly
reaction.
Familiarizing the fresh Employees – The better orientation saves time because the employee
would get familiar with his job, supervisor, and colleague. Explaining the working of the
organization and the department during orientation will save the co-workers’ precious time
later in explaining the work.
Creating Realistic Expectations – Good orientation creates realistic expectations by letting
the employee know what is expected from him in terms of values, attitudes, job procedures,
behavior and dress code. All corporations have their personal set of values, beliefs, rules and
procedures code of conduct which expects-their employee to follow.
Develops Enthusiasm – Through good orientation the fresher is made conscious of his work
and how his work fits with the total corporation; how he can make sure to the organizational
effectiveness and to whom he may look for in case of any problem. This creates more loyalty
and enthusiasm in the mind of the freshers.

ETHICS
Meaning of ethics:

Originated from the Greek word “ethos”, that measures “way of living”, ethics is a branch of
philosophy which is concerned with human conduct, more specially the behavior of
individuals in the society. Ethics examines the logical justification for our noble judgments; it
indicates what is morally right or wrong.

What are business ethics?

'Business ethics' combines the key elements of ethical philosophy into business activities,
institutions, and corporations. Business ethics based on the study of moral beliefs- of right and
wrong - and how these beliefs are applied to the manufacture, delivery and utilization of goods
and services. These beliefs are applicable to both individuals within a corporation and the
organization as an entire entity.
In today's business area, managers are hope for behaving morally, to know what is right and
wrong, and also try to understand what is possibly good and bad for all stakeholders engaged.
Businesses can either positively or negatively influence its stakeholders through its
performances, goals, policies and procedures. Likewise, stakeholders can also positively or
negatively influence businesses.

Effects of a Lack of Ethics on a Business Environment:

A lack of business ethics threatens the future of the organization and can have many other
negative influences on a business environment.

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➢ Impact on Employee Performance
A lack of ethics has a negative influence on employee activities. Sometimes, employees are so
anxious about getting forwards and making money that they avoid procedures and protocol.
➢ Damage to Company integrity
If an absence of ethics in a business organization gets public knowledge, that business falls
credibility.
➢ Employee Relations Are Affected
When a manager of a business organization exhibits a of ethical behavior, he/she faces losing
the honor of his/her employees. It is critical to have a successful business organization without
well-regarded leaders.

EMOTIONS
Meaning of emotions:
Emotions are feelings such as pleasure, dissatisfaction and sorrow that normally have both
physiological and comprehensible elements that impact behavior. Emotion is originated from
the Latin word ‘Emover’ that expresses to stir up’ or to excite’. Emotion can be known as an
agitated state of our mind and body. Emotion plays a vital role in affecting our behavior. Life
would be bored without feelings like joy and sadness, satisfaction and dissatisfaction, love and
fear, hope and shock. So, emotion adds color and spice to daily life.

Why emotions are important for business?

Some people think that business organization has no place for emotions, but this couldn’t be
more wrong. Emotions ensure a great role in business and in the success of your business
organizations. Emotions have an influence on groupwork, customer pleasure, manager-
employee communication, and employee retention. Additionally, the brain’s emotional state
influences decision making, planning and consulting, and creative ideas. Besides, emotions
have many influences on the number of sales you make, the amount of money you make and
overall whether your business gets it or breaks it.
It possibly comes as no surprise that customers report a higher pleasure when a staff member
honestly seems to understand their issue. But more than customer facility, this is also the same
for co-worker working jointly as when people feel that other people understand them, they
work better jointly and make a sustainable and stronger team.
It is essential in business organization for managers and leaders to build up a higher degree of
emotional granularity in their own lives, as this would provide them a greater command over
circumstances and their employees. It is also essential to achieve to the heart of someone’s
emotional state, as these assists avoid offering the wrong solution. If you can correctly
recognize these emotions, and obtain to the cause, it is a remarkable first step to using the
emotional brain to work greater together.

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 STAKEHOLDERS
What is a Stakeholder?
A stakeholder is a group that has an interest in an organization and can either influence or be
influenced by the business. The primary stakeholders in a typical organization are its owner,
investors, employees, managers, customers, and suppliers. Stakeholders defined as all parties
who have a direct or indirect interest in an organization. An organization’s activities, decisions
making, or performance can influence them. But, on the other contrary, their interest in the
organization also impacts its strategy, decisions making, performances.

Stakeholder Examples:
As we specified, there are many types of stakeholders, many of that fall under the internal or
external stakeholder classifications. Let’s take a look at some of the more common stakeholder
examples.
➢ Investors: These are stakeholders search for a financial return and can be shareholders and
debtholders. They have provided capital in the business organization and try to get a return
on that investment.
➢ Employees: These stakeholders rely on their entitle and job safety. They have a direct stake
in the company as it assists them and ensure them with benefits.
➢ Customers: These stakeholders desire the product or service that the project provides and
they hope it to be of quality and involve value.
➢ Suppliers: These stakeholders have their revenue tied up with the project as they sale
goods and services to the organization managing the project. Project gain means more
business for them.
➢ Communities: These stakeholders don’t desire the project to negatively influence their
health, security or economic growth. The companies that are housed in their areas or
working on projects in their communities can influence job creation, expenditure and more.
➢ Government: These stakeholders collect taxes and also get gross domestic product from a
project. They are major stakeholders as they get taxes from both the organization on a
corporate level and individually from those it employs.

Impact of stakeholders on business:

Company needs to be conscious of their stakeholders. The performance of a business
organizations will affect many of their stakeholders. The stakeholders can also impact the
decisions that a business makes. All of the stakeholder groups have an influence on a business,
but some will have more influence than others, providing them more power and impact on the
performances of the business.
Financial influence- Businesses and companies are out to make money. The financial returns
of shareholders, partners, or proprietors is to make balance with responsibilities. As a
organization leader, wise decisions making about minimizing costs, making revenue, and
making positive results is a must. The stakeholder’s involvement is high.
Social influence- The mobile technology and internet shower power to consumers to observe
every single thing. Non-customer positive performances have no meaning to support long term.
Operating without honesty is not acceptable. Communities also anticipate the participation of
the stakeholders in society performances.

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Operations influence- Employees are another part of stakeholders. Employees expect a non-
discriminatory working environment, and they wish to be known as key assets. Any failure to
provide equal opportunity at the work station will highlight low employee honesty.

JOB ROTATION
Meaning of Job Rotation:
Job rotation is defined as a management technique which is used to shift employee from one
job to another in order to make them familiar with all the verticals of an organization. It is a
pre-planned application with a goal to test the employee expertise and competencies in order
to place him or her at the accurate place. Additionally, it minimizes the monotony of the job
and provides them a wider experience and assists them acquire more insight. The objective of
job rotation is to increase the job experience of the employees, to cross train them and enhance
their job satisfactions.
Job rotation is a well-regulated practice to minimize the boredom of making same type of job
every day and search the hidden potential of an employee. The process makes the objectives of
both the management and the employees. It assists management in searching the new talent of
employees and identifying what he or she is best at. Additionally, it gives an individual a chance
to disclose his or her own interests and acquire experience in different fields or operations.

Purpose of Job Rotation:

The objectives of job rotation are to make a talent pool for company by cross-training the
employees. The job rotation also provides different objectives as listed below-
▪ Minimizing monotony of the Job: The first and essentially objective of job rotation is to
minimize the monotony and repetition involved in a job
▪ Making right-employee job fit: The prosperity of an organization based on the on-job
productivity of its employees. If they’re correctly placed, they will be fit to provide the
maximum output.
▪ Disclosing employee to all verticals of the company: Another main operation of job
rotation process is to expressing workers to all verticals or operations of the company in
order to make them conscious how company performs and how activities are performed. It
provides them a chance to understand the working of the company and various problems
that crop up while working.
▪ Experimenting Employee Skills and abilities: Testing and evaluating employee skills
and abilities and then assigning them the work that they excel at is one of the major
operations of job rotation process.

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 TRUNKEY PROJECT
Meaning of Trunkey project:
Turnkey project means a contract under which a firm agrees to entirely design, build, set up
and equip a manufacturing/ business/ service facility and turn the project over to the buyer
when it is ready for remuneration. A turnkey project is one which is designed, developed and
equipped with all facilities by a company under a contract. It is handed over to a buyer when it
becomes prepared to operate business. Certainly, the company accountable for designing a
turnkey project does it for the cost as agreed in the contract. So, the term turnkey project is a
turnkey solution, turnkey delivery, or ready-to-use. The client should be capable just to turn
the key. The turnkey project supplier is the general contractor (leading supplier, direct supplier,
or main contractor). So, Turnkey project is one of the most particular modes of carrying out
international business.

Benefits of turnkey projects:

Also spelt as turn-key, such projects are jointly beneficial for the firm which establishes them
and the player that eventually takes control of such projects. There are the major benefits of
turnkey projects are listed below:
❖ Cost Minimizing: A organization hires firms that are willing to create projects at a cost
mentioned in the contract.
❖ Time saving: As there is no require for companies to misuse their time and energy on enlarging
a facility, they get time to develop their own businesses.
❖ Hassle-free: As someone is dedicating time and energy to develop the facility, the major
operator is free from all sorts of lawful and technical challenges, an inherent characteristic of
the project implement.
❖ Acquire to specialist knowledge and technical know-how: A company running a textile
business may not be a specialist in developing and operating a textile manufacturing unit. So,
turnkey projects give them a chance to hire specialists in the concerned field.

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 Reference:
https://recruitee.com/articles/self-managed-teams
https://yourbusiness.azcentral.com/multidomestic-corporation-25184.html
https://www.powerdms.com/policy-learning-center/what-is-the-purpose-of-policies-in-the-
workplace#:~:text=The%20purpose%20of%20policies%20is,employees%20to%20take%20t
o%20heart.
https://www.peoplehum.com/glossary/induction
https://www.canada.ca/en/treasury-board-secretariat/services/values-ethics/code/what-is-
ethics.html
https://www.universalclass.com/articles/business/your-legal-and-ethical-responsibilities-as-a-
manager.htm
https://www.femfounder.co/health-and-fitness/emotions-in-business
https://www.projectmanager.com/blog/what-is-a-stakeholder
https://www.hrhelpboard.com/hr-policies/job-rotation-policy.htm
https://housing.com/news/turnkey-project/

Thank You!

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