7 Ms AND ITS APPLICATION

(WAZED AHMAD SOHAN)

B7200B060

Practice of modern management owes its birthplace to the sixteenth century enquiry into low-
proficiency and disappointments of certain enterprises, conducted by the English legislator Sir
Thomas More (1478-1535). Management is often included as a factor of creation alongside
machines, materials, and money. According to he management guru Peter Drucker (1909-2005).
As an order, management comprises of the interlocking elements of detailing the corporate
approach and arranging, arranging, controlling, and guiding an association's assets to accomplish
the arrangement's destinations. The functions of management involves planning, controlling,
leading, organising decision making of business areas in Marketing, Production, Sales, Research
& Development, Human Resource, Finance, Operations Etc.

There are various levels of management. Top level takes all major and crucial decisions and
frames organization mission, vision and objectives. Middle level management gives direction to
lower level management of how to implement those business objectives. Policies are framed and
work method are determined. The elements of management include arranging, controlling,
driving, sorting out dynamic of business zones in Marketing, Production, Sales, Research and
Development, Human Resource, Finance, Operations Etc.

There are different degrees of management. A high level takes all major and significant choices
and edges association strategic, and objectives. Middle-level management provides guidance to
bring down level management of how to execute those business targets. Strategies are
surrounded and work technique is resolved.

1. Man :
Man in management is referred to as a human resource. It is the recruitment, selection, training,
promotion, and grievances handling of personnel. Payment of compensation gratuity, termination
of services is the few issues that have to be dealt with effectively to retain the talent within an
organization. Human (Skill, Technology, Organization, Resources)
o Do our associates have the skill (and the will) to do what is expected of them safely,

consistently and effectively

 2. Material
Material is a basic ingredient in management be it a service industry or a product industry. Most
of the industries locate themself nearby to the availability of material. Material (Information,
Raw Materials, Consumables, Quality)

3. Machine:
The machine is the basic tool to produce goods or to generate services. The selection of an
appropriate machine not only enhances efficiency but also saves time and increases revenue.
Tailoring the requirement of the organization, Selections of the right technical machine and
equipment, availability of spare parts, evaluation of after-sales services, substitutes and
technology, and the organization budget are the crucial criteria while purchasing a machine.
Maintenance and overhauling issues along with its life span also cannot be overlooked. In
service Industry, Technology matters a lot these days we are having Computers & peripherals as
a major machine to serve the service clients. Machine (Equipment)
o Are our machines capable of safe and reliable output at the desired quality and rate? Do

breakdowns, defects or unplanned stoppages inhibit their ability to meet that goal?

4. Money:
Money Management is done to meet day to day business requirements and the funds involved in
meeting those requirements are known as working capital.

5. Method:
Everything has the right way to do and this right way is known as a Method in management. In
short, it means, an art of doing. A set of procedures and instructions is known as a method. The
visible methods of a company include Plans, Policies, Procedures, and Data. Method (Process,
Schedule, Procedure)
o Do we have standard work methods in place which ensure and support consistent, safe

production.
 6. Measurement:
Measurements are quantified observations of some aspect or attribute of a process, product, or
project. Measurements enhance our ability to understand things not accessible to our native
abilities and intelligence.
Ten Precepts of Measurement
1.Measure what the customer cares
about. Measurements should have focus, based on goals and models. However, in most
organizations, there is little agreement or knowledge of what goals should be. Goals must relate
to customer satisfaction. Ultimately, the customer is the only arbiter of success.
2. Measure the process, not the person. The goal of a measurement program must be an
improvement, never evaluation. Measurement must support continuous process
improvement. Over eighty percent of quality problems can be corrected by concentrating on the
process.
3. Set goals. Know what the results of measures should be, before you measure. Know what
you desire. Benchmark against your competitors and against “world-class” organizations. Setting
goals for quality measures ensure that the organization remains focused on the key items
important from the customer’s point of view. Goals must be ambitious. Goals should
always be quantified and expressed in actual numbers, not percentages.
4.Know what to do about the results you get. Use measures to manage effort more
successfully.Measures must be a basis for judgment or action. When measures are not achieving
goals or are not moving in the right direction, know what intervention to take. You must also
know how your intervention will affect measures, both short term, and long term.
5.Anticipate the results of your intervention. Get feedback, from all participants. Establish the
effectiveness of your measurement program by measuring how measures are actually used. Are
you getting the results you want? It is more important to know this if you are achieving positive
results than if you are getting negative ones. How will you sustain progress if you don’t know
for certain what is causing it?
6. The process itself should yield measures. Don’t create a separate system to gather measures,
they should be a natural byproduct of performing the process. Measurement should not be an
additional overhead or burden upon the people collecting the measures. Automate the collection
of measures where possible. This will become easier as the organization becomes more
sophisticated in stabilizing and automating its processes. An automated measure is better than a
manual one, but a manual measure is better than none. As an example, an automated project
control system can be used to measure the number of tasks completed on schedule.
7. Measures should be numerical and objective. Measurement is not done well subjectively. As
stated earlier, measurements enhance our ability to sense things not accessible to our native
abilities and intelligence. Subjectivity contradicts this.It also makes measures open to
interpretation, and no two persons will interpret them in the same way.
7. Publish and publicize measurement results. Provide feedback to the source, both
measures to be taken and the results of those measurements. Make sure everyone
involved understands the purpose of the measurement program. Measures must be
beneficial to the persons collecting the data and performing the process measured.
8. Ensure the comparability of measures. Without stable processes and standards, measures
are meaningless. In systems development work, individual performance has always been
the largest variable. This work must be converted from an individual art form to a
repeatable process before it can be effectively measured and controlled. Encourage the
use of the best practices by all your staff, bring everyone up to the level or your best
people.
9. What you measure is what you get! Finally, this is the most important measurement
precept, even more so than relating measures to customers. If you measure Lines of
Code, you will get Lines of Code. People respond to whatever they are asked to do. If
you measure how many projects are completed on schedule, you are likely to alter
estimating and reporting practices more than you are to improve performance.

7.Marketing:
“Marketing Management is the process allocating the resources of the organization toward
marketing activities.” Thus, a marketing manager is someone who is responsible for directing
expenditures of marketing funds. Related to the term ‘management’ is the term ‘strategy.’
IMPLEMENTATION:
The planning cycle is composed of four basic steps. First, Planning is the process of examining
and understanding the surroundings within which the organization functions starting with
environmental scanning” as the process of studying and making sense of all the things that might
impact the firm’s operation that is external to the firm. This would include studying and gaining
an understanding of such things as competition, legislation and regulation, social and cultural
trends, and technology. Both present and developing trends in each of these areas must be
identified and monitored. The planning stage also includes creating documents that outline the
organization’s intended response to these environmental (external) variables.
Second, Implementation is the process of putting plans that have been made into action. It is the
transition from expected reality to existing reality.

Third, Monitoring is the process of tracking plans and identifying how plans related to changes
that take place during program operation when more information is acquired. Correction is
the stage in which we take action to return our plan to the desired state based on feedback
obtained in the monitoring stage. If we find that return to the planned state is not practicable, we
may adjust our planning outcomes.
Thus, Monitoring and Correction may be considered two stages because after plans are put into
action, one must continually monitor performance and make adjustments to the plan based on the
feedback gathered through these monitoring activities. In summary, the marketing management
cycle is composed of planning, implementing, monitoring, and correcting.