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Princ of MGMT Class summary #4
Course: Principles Of Management (BMGT 2501)
24 Documents
Students shared 24 documents in this course
University: Seton Hall University
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Ronnholmen 1
Hannes Ronnholmen
Prof. Franco
Principles of Management
2021-10-07
Class Summary for 10/04/2021
For this week’s class, focus was primarily directed towards Total Quality
Management and its’ implications. Through the lecture, emphasis was put innovation and
change and how such processes are implemented and look like. Some of the external factors
that need to be considered when innovating and changing things within a business are
economic-, legal-political-, technological-, and natural conditions. An assessment of how
uncertain the current business environment is might also be of help when deciding the best
way forward.
Some examples of how innovation and change to a business’ internal and
external operations might look like were also provided. These examples included the display
of changing from a process-based to a systematic approach or going from simple to complex
processes. Further, an example of how a change in internal systems can result in a
minimization of cost was provided. The example shown that a business, through changing
from a process-based to a systematic approach, would be able to save up to $276,000 a year.
The above-mentioned change, where a larger percentage of disputed claims would be solved
by the person initially assigned to it rather than a department leader, would not only lessen
costs, but also reduce time as well as improving quality, leading to higher customer value.
This is of importance since this is what total quality management is all about. The tool is
designed for customer-focused organizations that are in continual improvement and involves
all employees of all aspects of the organization.
