What are the key considerations in delegation of authority in an organizational situation and what are the essential pre-requisites required for the purpose.

What are the key considerations in delegation of authority in an organizational situation and what are the essential pre-requisites required for the purpose. Explain with few examples from the organization to you. Briefly describe the basic details of the organization you are referring to.

A manager alone cannot perform all the tasks assigned to him. In order to meet the targets, the manager should delegate authority. Delegation of Authority means division of authority and powers downwards to the subordinate. Delegation is about entrusting someone else to do parts of your job. Delegation of authority can be defined as subdivision and sub-allocation of powers to the subordinates in order to achieve effective results.
Delegation of authority is one vital organizational process. It is inevitable along with the expansion and growth of a business enterprise. Delegation means assigning of certain responsibilities along with the necessary authority by a superior to his subordinate managers. Delegation does not mean surrender of authority by the higher level manager. It only means transfer of certain responsibilities to subordinates and giving them the necessary authority, which is necessary to discharge the responsibility properly. Delegation is quite common in all aspects of life including business. Even in the college, the principal delegates some of his authority to the vice-principal.
Elements of Delegation
1.      Authority - in context of a business organization, authority can be defined as the power and right of a person to use and allocate the resources efficiently, to take decisions and to give orders so as to achieve the organizational objectives. Authority must be well- defined. All people who have the authority should know what is the scope of their authority is and they shouldn’t misutilize it. Authority is the right to give commands, orders and get the things done. The top level management has greatest authority. Authority always flows from top to bottom. It explains how a superior gets work done from his subordinate by clearly explaining what is expected of him and how he should go about it. Authority should be accompanied with an equal amount of responsibility. Delegating the authority to someone else doesn’t imply escaping from accountability. Accountability still rest with the person having the utmost authority.
2.      Responsibility - is the duty of the person to complete the task assigned to him. A person who is given the responsibility should ensure that he accomplishes the tasks assigned to him. If the tasks for which he was held responsible are not completed, then he should not give explanations or excuses. Responsibility without adequate authority leads to discontent and dissatisfaction among the person. Responsibility flows from bottom to top. The middle level and lower level management holds more responsibility. The person held responsible for a job is answerable for it. If he performs the tasks assigned as expected, he is bound for praises. While if he doesn’t accomplish tasks assigned as expected, then also he is answerable for that.
3.      Accountability - means giving explanations for any variance in the actual performance from the expectations set. Accountability can not be delegated. For example, if ’A’ is given a task with sufficient authority, and ’A’ delegates this task to B and asks him to ensure that task is done well, responsibility rest with ’B’, but  accountability still rest  with ’A’.  The top level management is most accountable. Being accountable means being innovative as the person will think beyond his scope of job. Accountability, in short, means being answerable for the end result. Accountability can’t be escaped. It arises from responsibility.
For achieving delegation, a manager has to work in a system and has to perform following steps :
1.      Assignment of tasks and duties
2.      Granting of authority
3.      Creating responsibility and accountability
Delegation of authority is the base of superior-subordinate relationship, it involves following steps:-
1.      Assignment of Duties - The delegator first tries to define the task and duties to the subordinate. He also has to define the result expected from the subordinates. Clarity of duty as well as result expected has to be the first step in delegation.
2.      Granting of authority - Subdivision of authority takes place when a superior divides and shares his authority with the subordinate. It is for this reason; every subordinate should be given enough independence to carry the task given to him by his superiors. The managers at all levels delegate authority and power which is attached to their job positions. The subdivision of powers is very important to get effective results.
3.      Creating Responsibility and Accountability - The delegation process does not end once powers are granted to the subordinates. They at the same time have to be obligatory towards the duties assigned to them. Responsibility is said to be the factor or obligation of an individual to carry out his duties in best of his ability as per the directions of superior. Responsibility is very important. Therefore, it is that which gives effectiveness to authority. At the same time, responsibility is absolute and cannot be shifted. Accountability, on the others hand, is the obligation of the individual to carry out his duties as per the standards of performance. Therefore, it is said that authority is delegated, responsibility is created and accountability is imposed. Accountability arises out of responsibility and responsibility arises out of authority. Therefore, it becomes important that with every authority position an equal and opposite responsibility should be attached.
Therefore every manager, i.e., the delegator has to follow a system to finish up the delegation process. Equally important is the delegate’s role which means his responsibility and accountability is attached with the authority over to here.
Objectives of Delegation of Authority
1.      To reduce the excessive burden on the superiors i.e., executives and managersfunctioning at different levels.
2.      To provide opportunities of growth and self development to junior executives.
3.      To create a team of experienced and matured managers for the Organisation. Itacts as a technique of management and human resource development.
4.      To improve individual as well as overall efficiency of the Organisation.
Process of Delegation of Authority at American Express
It is an assortment of such experiences that, for over a thousand employees at Amex India, make the company a great place to work. This is reflected in the long tenures that employees have at Amex. There are many factors that influence employees' decision to stay in a job market or create jobs by turning entrepreneurs. Working for large corporations has its own advantages. Apart from the assurance and security of a good salary every month end, there is also a pride attached to working in reputed companies. In the financial services sector, Amex, which has over a thousand employees in India, its largest employee base anywhere outside the US, presents a good opportunity. The company also scores high on employee freedom at work front.
The hallmark of any good corporate is the extent of decentralisation of power and authority. "At Amex, we have a four-stage development plan that employees get to create.
When employees set their own goals, they are more likely to achieve it," says Rai, talking
about the company's four-stage development plan that employees help make, getting a greater say in        shaping company policy and direction.
At Amex, individual leadership is given to junior managers, executional leadership rests with middle managers and strategic leadership roles are vested with vice presidents. Visionary leadership functions rest with the global heads. So the company has a clear function and well distributed authority at all levels. "Such clear distribution eliminates the need for much supervision, management of day to day employee affairs and also guarantees employee freedom," adds Rai.
Delegation process involves four distinct stages. The process of delegation moves
through these stages. The following figure shows the stages in the process of delegation
of authority.

Advantages / Importance of Delegation of Authority
1.      Relieves manager for more challenging jobs: Delegation makes it possible for the managers to distribute their workload to others. Thus, managers are relieved of routine work and they can concentrate on higher functions of management like planning, organising, controlling, etc.
2.      Leads to motivation of subordinates: Subordinates are encouraged to give their best at work when they have authority with responsibility. They take more initiative and interest in the work and are also careful and cautious in their work. Delegation leads to motivation of employees and manpower development.
3.      Facilitates efficiency and quick actions: Delegation saves time enabling tile subordinates to deal with the problems promptly. They can take the decisions quickly within their authority. It is not necessary to go to the superiors for routine matters. This raises the overall efficiency in an Organisation and offers better results in terms of production, turnover and profit.
4.      Improves employee morale: Delegation raises the morale of subordinates as they are given duties  and  supporting  authority.  They feel that they are responsible
employees. The attitude and outlook of subordinates towards work assigned becomes more constructive.
5.      Develops team spirit: Due to delegation, effective communication develops between the superiors and subordinates. The subordinates are answerable to superiors and the superiors are responsible for the performance of subordinates. This brings better relations and team spirit among the superiors and subordinates
6.      Maintains cordial relationships: The superiors trust subordinates and give them necessary authority. The subordinates accept their accountability and this develops cordial superior-subordinate relationships.
7.      Facilitates management development: Delegation acts as a training ground for management development. It gives opportunity to subordinates to learn, to grow and to develop new qualities and skills. It builds up a reservoir of executives, which can be used as and when required. Delegation creates managers and not mere messengers.

Explain briefly various models of decision making process.

Explain briefly various models of decision making process. Briefly describe the model of decision making Process which prevails in the organization known to you and explain as to how close it is to the models explained above. Briefly describe the structure and other relevant details of the organization.
Decision making is usually defined as the act of making up your mind about something. However, the process of decision making is not as easy as it sounds. There are certain important decisions that you have to make that have the ability to change the course of your life. Even at a work place, one is confronted with problems or dilemmas, where the solutions that one has to find should cater to the need of others around you. Such decisions have to be made in a careful way, especially if it is going to affect you monetarily, or if it is going to bring major changes in your life. Thus, it is important to take decisions in a systematic way, so that the decision you make has high chances of being successful. The article here discusses the 6 steps to decision making process, that can help in clarifying certain things in your mind before you take the final decision. These steps also will also help enhance your decision making skills for different types of decision making.

How to Make a Decision in Six Steps
Defining the Problem: The first step towards a decision making process is to define the
problem. Obviously, there would be no need to make a decision without having a problem. So, the first thing one has to do is to state the underlying problem that has to be solved. You also have to clearly state the outcome or goal that you desire after you have made the decision. This is a good way to start, because stating your goals would help you in clarifying your thoughts.
Develop Alternatives: The situation of making a decision arises because there are many alternatives available for it. Hence, the next step after defining the main problem would be to state out the alternatives available for that particular situation. Here, you do not have to restrict yourself to think about the very obvious options; rather you can use your creative skills and come out with alternatives that may look a little irrelevant. This is important because sometimes solutions can come out from these out-of-the-box ideas. You would also have to do adequate research to come up with the necessary facts that would aid in solving the problem.
Evaluate the Alternatives: This can be said to be the one of the most important stages of the decision making process. This is the stage where you have to analyze each alternative you have come up with. You have to find out the advantages and disadvantages of each option. This can be done as per the research you have done on that particular alternative. At this stage, you can also filter out the options that you think are impossible or do not serve your purpose. Rating each option with a numerical digit would also help in the filtration process.
Make the Decision: This is the stage where the hard work you have put in analyzing
would lead to. The evaluation process would help you in looking at the available options
clearly and you have to pick which you think is the most applicable. You can also club
some of the alternatives to come out with a better solution instead of just picking out any one of them.
Implement the Solution: The next obvious step after choosing an option would be
implementing the solution. Just making the decision would not give the result one wants.
Rather, you have to carry out on the decision you have made. This is a very crucial step
because all the people involved in the implementation of a solution should know about
the implications of making the decision. This is very essential for the decision to give successful results.
Monitor your Solution: Just making the decision and implementing it is not the end of
the decision making process, it is very important to monitor your decision regularly. At
this stage, you have to keep a close eye on the progress of the solution taken and also whether it= has led            to the results you expected.
These 6 steps to decision making process may, at first, seem very complicated. However, these are essential decision making techniques that would aid you in taking proper decisions in your personal as well as professional life.
Logical decision making is an important part of all science-based professions, where
specialists apply their knowledge in a given area to making informed decisions. For
example, medical decision making often involves making a diagnosis and selecting an
appropriate treatment. Some research using naturalistic methods shows, however, that in
situations with higher time pressure, higher stakes, or increased ambiguities, experts use intuitive decision making rather than structured approaches, following a recognition primed decision approach to fit a set of indicators into the expert's experience and immediately arrive at a satisfactory course of action without weighing alternatives. Recent robust decision efforts have formally integrated uncertainty into the decision making process. However, Decision Analysis, recognized and included uncertainties with a structured and rationally justifiable method of decision making since its conception in 1964.
A major part of decision making involves the analysis of a finite set of alternatives described in terms of some evaluative criteria. These criteria may be benefit or cost in nature. Then the problem might be to rank these alternatives in terms of how attractive they are to the decision maker(s) when all the criteria are considered simultaneously. Another goal might be to just find the best alternative or to determine the relative total priority of each alternative (for instance, if alternatives represent projects competing for funds) when all the criteria are considered simultaneously. Solving such problems is the focus of multi-criteria decision analysis (MCDA) also known as multi-criteria decision making (MCDM). This area of decision making, although it is very old and has attracted the interest of many researchers and practitioners, is still highly debated as there are many MCDA / MCDM methods which may yield very different results when they are applied on exactly the same data. This leads to the formulation of a decision making paradox.
Decision-Making Stages
Developed by B. Aubrey Fisher, there are four stages that should be involved in all group decision making. These stages, or sometimes called phases, are important for the decision-making process to begin
Orientation stage- This phase is where members meet for the first time and start to get to know each other.
Conflict stage- Once group members become familiar with each other, disputes, little fights and arguments occur. Group members eventually work it out.
Emergence stage- The group begins to clear up vague in opinions is talked about.
Reinforcement stage- Members finally make a decision, while justifying themselves that it was the right decision
Decision making at HAIER TELECOM
Decision-making increasingly happens at all levels of a business. The Board of Directors may make the grand strategic decisions about investment and direction of future growth, and managers may make the more tactical decisions about how their own department may contribute most effectively to the overall business objectives. But quite ordinary employees are increasingly expected to make decisions about the conduct of their own tasks, responses to customers and improvements to business practice. This needs careful recruitment and selection, good training, and enlightened management.

Types of Business Decisions
1. Programmed Decisions These are standard decisions which always follow the same routine. As such, they can be written down into a series of fixed steps which anyone can follow. They could even be written as computer program
2. Non-Programmed Decisions. These are non-standard and non-routine. Each decision is not quite the same as any previous decision.
3. Strategic Decisions. These affect the long-term direction of the business eg whether to take over Company A or Company B
4. Tactical Decisions. These are medium-term decisions about how to implement strategy eg what kind of marketing to have, or how many extra staff to recruit
5. Operational Decisions. These are short-term decisions (also called administrative decisions) about how to implement the tactics e.g. which firm to use to make deliveries.

The model in Figure 2 above is a normative model, because it illustrates how a good
decision ought to be made. Business Studies also uses positive models which simply aim to illustrate how decisions are, in fact, made in businesses without commenting on whether they are good or bad.
Linear programming models help to explore maximising or minimising constraints eg one can program a computer with information that establishes parameters for minimising costs subject to certain situations and information about those situations.
Spread-sheets are widely used for ‘what if’ simulations. A very large spread-sheet can be used to hold all the known information about, say, pricing and the effects of pricing on profits. The different pricing assumptions can be fed into the spread-sheet ‘modelling’ different pricing strategies. This is a lot quicker and an awful lot cheaper than actually changing prices to see what happens. On the other hand, a spread-sheet is only as good as the information put into it and no spread-sheet can fully reflect the real world. But it is very useful management information to know what might happen to profits ‘what if’ a skimming strategy, or a penetration strategy were used for pricing.
The computer does not take decisions; managers do. But it helps managers to have quick
and reliable quantitative information about the business as it is and the business as it might be in different sets of circumstances. There is, however, a lot of research into ‘expert systems’ which aim to replicate the way real people (doctors, lawyers, managers, and the like) take decisions. The aim is that computers can, one day, take decisions, or at least programmed decisions (see above). For example, an expedition could carry an expert medical system on a lap-top to deal with any medical emergencies even though the nearest doctor is thousands of miles away. Already it is possible, in the US, to put a credit card into a ‘hole-in-the-wall’ machine and get basic legal advice about basic and standard legal problems.
Intuitive decision making models
Some people consider these decisions to be unlikely coincidences, lucky guesses, or some kind of new-age hocus-pocus. Many universities are still only teaching rational decision making models and suggest that if these are not used, failure results. Some researchers are even studying the logic behind the intuitive decision making models!
The groups who study intuitive decision making models are realising that it's not simply
the opposite of rational decision making. Carl Jung pointed out that it is outside the realm
of reason.
In military schools the rational, analytical models have historically been utilised. It is also long been recognised, however, that once the enemy is engaged the analytical model may do more harm than good. History is full of examples where battles have more often been lost by a leaders? failure to make a decision than by his making a poor one.
"A  good  plan,  executed  now,  is  better  than  a  perfect  plan  next  week." - General George S. Patton, Jr.
The military are educating the soldiers of every rank in how to make intuitive decisions. Information overload, lack of time and chaotic conditions are poor conditions for rational models. Instead of improving their rational decision making, the army has turned to intuitive decision models. Why? Because they work!
Recognition primed decision making model
Psychologist Dr Gary Klein has been studying decision making for many years and he
suggests that people actually use an intuitive approach 90% of the time.  His recognition primed decision making model describes that in any situation there are cues or hints that allow people to recognise patterns. Obviously the more experience somebody has, the more patterns they will be able to recognise. Based on the pattern, the person chooses a particular course of action. They mentally rehearse it and if they think it will work, they do it.
Obviously people become better with this over time as
Constraints on Decision-Making
Internal Constraints
These are constraints that come from within the business itself.
- Availability of finance. Certain decisions will be rejected because they cost too much
- Existing Business Policy. It is not always practical to re-write business policy to accommodate one decision
- People’s abilities and feelings. A decision cannot be taken if it assumes higher skills than employees actually have, or if the decision is so unpopular no-one will work properly on it.
External Constraints
These come from the business environment outside the business.
- National & EU legislation
- Competitors’ behaviour, and their likely response to decisions your business makes
- Lack of technology
- Economic climate

What is the role of Management Information System (MIS) in sustaining efficiency and effectiveness of an organization?

What is the role of Management Information System (MIS) in sustaining efficiency and effectiveness of an organization? Explain with the help of the prevailing MIS in an organization known to you. Briefly describe the organization along with its reporting relationships.
A management information system (MIS) is a system that provides information needed to manage organizations effectively. Management information systems are regarded to be a subset of the overall internal controls procedures in a business, which cover the application of people, documents, technologies, and procedures used by management accountants to solve business problems such as costing a product, service or a business-wide strategy. Management information systems are distinct from regular information systems in that they are used to analyze other information systems applied in operational activities in the organization. Academically, the term is commonly used to refer to the group of information management methods tied to the automation or support of human decision making, e.g. Decision Support Systems, Expert systems, and Executive information systems.
An 'MIS' is a planned system of the collection, processing, storage and dissemination of data in the form of information needed to carry out the management functions. In a way, it is a documented report of the activities that were planned and executed. According to Philip Kotler "A marketing information system consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers."
Applications of MIS ---------With computers being as ubiquitous as they are today, there's hardly any large business that does not rely extensively on their IT systems. However, there are several specific fields in which MIS has become invaluable.
v  Strategy Support While computers cannot create business strategies by themselves they can assist management in understanding the effects of their strategies, and help enable effective decision-making.
v  MIS systems can be used to transform data into information useful for decision making. Computers can provide financial statements and performance reports to assist in the planning, monitoring and implementation of strategy.
v  MIS systems provide a valuable function in that they can collate into coherent reports unmanageable volumes of data that would otherwise be broadly useless to decision makers. By studying these reports decision-makers can identify patterns and trends that would have remained unseen if the raw data were consulted manually.
v  MIS systems can also use these raw data to run simulations - hypothetical scenarios that answer a range of ‘what if’ questions regarding alterations in strategy. For instance, MIS systems can provide predictions about the effect on sales that an alteration in price would have on a product. These Decision Support Systems (DSS) enable more informed decision making within an enterprise than would       be possible without MIS systems.
Data Processing
Not only do MIS systems allow for the collation of vast amounts of business data, but they also provide a valuable time saving benefit to the workforce. Where in the past business information had to be manually processed for filing and analysis it  can now be entered quickly and easily onto a computer by a data processor, allowing for faster decision making and quicker reflexes for the enterprise as a whole.
Management by Objectives
While MIS systems are extremely useful in generating statistical reports and data analysis
they  can  also  be  of  use  as  a  Management  by  Objectives (MBO)  tool.
MBO is a management process by which managers and subordinates agree upon a series
of objectives for the subordinate to attempt to achieve within a set time frame. Objectives
are set using the SMART ratio: that is, objectives should be Specific, Measurable, Agreed, Realistic and Time-Specific.
The aim of these objectives is to provide a set of key performance indicators by which an
enterprise can judge the performance of an employee or project. The success of any MBO objective depends upon the continuous tracking of progress.
In tracking this performance it can be extremely useful to make use of an MIS system.
Since all SMART objectives are by definition measurable they can be tracked through the
generation   of   management   reports   to   be   analyzed   by   decision-makers.
Benefits of MIS
The field of MIS can deliver a great many benefits to enterprises in every industry.
Expert organisations such as the Institute of MIS along with peer reviewed journals such
as MIS Quarterly continue to find and report new ways to use MIS to achieve business
1. Core Competencies
Every market leading enterprise will have at least one core competency - that is, a function  they  perform  better  than  their  competition.  By  building  an  exceptional management information system into the enterprise it is possible to push out ahead of the competition. MIS systems provide the tools necessary to gain a better understanding of the market as well as a better understanding of the enterprise itself.

2. Enhance Supply Chain Management
Improved reporting of business processes leads inevitably to a more streamlined production process. With better information on the production process comes the ability to improve the management of the supply chain, including everything from the sourcing of materials to the manufacturing and distribution of the finished product.

3. Quick Reflexes
As a corollary to improved supply chain management comes an improved ability to react to changes in the market. Better MIS systems enable an enterprise to react more quickly to their environment, enabling them to push out ahead of the competition and produce a better service and a larger piece of the pie.

4. Significant cost benefits, time savings, productivity gains and process re- engineering
opportunities are associated with the use of data warehouse for information processing.
5. Data can easily be accessed and analysed without time consuming manipulation and processing.

6. Decisions can be made more quickly and with confidence that the data are both time-relevant and accurate.
7. Integrated information can be also kept in categories that are meaningful to profitable operation
Further information about MIS can be found at the Bentley College Journal of MIS and the US Treasury’s MIS handbook, and an example of an organisational MIS division can be found at the Department of Social Services for the state of Connecticut.
MIS in Banking Sector (AXIS BANK)
Axis Bank, previously called UTI Bank, was the first of the new private banks  to  have  begun  operations  in             1994,  after  the  Government  of  India allowed  new  private  banks  to  be  established. The  Bank  was  promoted  jointly by  the  Administrator  of  the  Specified  Undertaking  of  the  Unit  Trust  of  India (UTI-I),   Life   Insurance   Corporation   of   India (LIC),   General   Insurance Corporation   Ltd.,   National   Insurance   Company   Ltd.,   The   New   India Assurance   Company,   The   Oriental   Insurance   Corporation   and   United Insurance  Company  Ltd.  UTI-I  holds  a  special  position  in  the  Indian  capital markets  and  has  promoted  many  leading  financial  institutions  in  the  country.
For example, using MIS strategically can help a company to become a market innovator.
By providing a unique product or service to meet the needs of customers, a company can
raise the cost of market entry for potential competitors and thus gain a competitive
advantage.  Another strategic use of MIS involves forging electronic linkages to customers and suppliers. This can help companies to lock in business and increase switching costs. Finally, it is possible to use MIS to change the overall basis of competition in an industry. For example, in an industry characterized by price wars, a business with a new means of processing customer data may be able to create unique product features that change the basis of competition to differentiation.
Relevance of Data Warehousing and Data Mining for banks in India. Banking being an information intensive industry, building a Management Information System within a bank or an industry is a gigantic task. It is more so for the public sector banks which have a wide network of bank branches spread all over the country.
At   present,   banks   generate   MIS   reports   largely   from   periodic   paper reports/statements submitted by the branches and regional/zonal offices. Except for a few banks which have been using technology in a big way, MIS reports are available with a substantial time lag. Reports so  generated  have also  a  high  margin  of  error  due  to  data  entry  being  done  at  various levels and the likelihood of varying interpretations at different levels. Though  computerization  of  bank  branches  has  been  going  on  at  a  good  pace, MIS  requirements  have  not  been  fully  addressed  to. It is on account of the fact that most of the Total Branch Computerization (TBC)   software packages are transaction processing oriented. They have been designed primarily for   day-to-day operations at the branch level and day-end balancing of books
Need for building MIS
The need for building MIS at the corporate level has increased considerably during the last few years because of the following reasons:
v  Regulatory requirements indicated by the RBI for preparation of Off-site Monitoring Surveillance (OSMOS) Reports on a regular basis in electronic format
v  Regulatory requirement of filing of statutory returns such as the one under Section 42 of the Reserve Bank of India Act, 1934 for working out Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) obligations in electronic format
v  Asset Liability Management (ALM) guidelines for banks being implemented by the RBI w.e.f. April 1, 1999 with the stipulation that the banks should capture 100 percent of their business through the ALM system by April 1, 2000.
v  Need for timely submission of Balance Sheets and Profit & Loss Accounts
v  Focus on transaction costing and a need for relating the service charges levied on the customers to be based on cost of servicing
v  Need for Inter-Branch Reconciliation of Accounts within a definite time frame
v  Need to meet the stipulations made by the Central Vigilance Commission (CVC) to computerise at least 70 percent of banking business by January 1, 2001.
v  Need to undertake risk management strategies and for this purpose build up appropriate sets of data and market intelligence reports

Application of data warehousing and data mining techniques
Implication of adopting such technology in a bank would be as under
1. All transactions captured at the branch level would get consolidated at a central location. Such a central location could be called the Data Warehouse of the concerned bank
2. For banks with large number of branches, it may not be desirable to consolidate the transaction details at one place only. It can be decentralised by locating the services on regional basis.
3. By way of data mining techniques, data available at various computer systems can be accessed and by a combination of techniques like classification, clustering, segmentation, association rules, sequencing, decision tree (described in detail at Annexure-15), various ALM reports such as Statement of Structural Liquidity, Statement of Interest Rate Sensitivity etc. or accounting reports like Balance Sheet and Profit & Loss Account can be generated instantaneously for any desired period/date
RisKompass    : A software system for derivatives valuation  and   risk management, RisKompass  enables  clients  to  manage  derivative  trades  in  a further controlled  way  from  the  front  to  back  office.  Supporting  the  industry standard  FpML (Financial   Product   Markup   Language)   protocol,   it   can manage  valuation  and  risk  management  of  a  broad range  of  derivatives instruments. The system will handle derivatives such as interest rates and foreign exchange for Bank.
1. The implementation will provide the bank with an automated system that reduces manual effort to streamline its operations.
2. The benefit envisaged by the bank is that everybody being on the same system, it can be accessed by anyone on the different locations of the bank.
3. The users at the bank would include traders, dealers and risk managers.
4. The solution will result in smoother deal processing, with verifying and online risk monitoring mechanism.
5. It will streamline all operations and the risk mechanism can be monitored centrally
Electronic Clearing Service (ECS Credit)
·Electronic Clearing Service (ECS Credit)
ECS Credit is an electronic clearing system that facilitates paperless transaction through an offline system. Bank facilitates ECS Credit at all ECS designated locations. We accept the   electronic  file and   arrange  abstention   of  settlement   date (date   of  credit   to   beneficiary account)  from  RBI/SBI/Local  Clearing  House  as  the  case  may  be.  The funds  gets  debited  from  a  centralized  account  and  credit  is  accorded  to the   respective   beneficiaries   as   per   settlement   cycle.   A   detailed   MIS about the transactions is provided to the customer.

To establish an Electronic Funds Transfer System to facilitate an efficient, secure, economical,   reliable and expeditious system of funds transfer and clearing in the banking   sector   throughout India.   The customer  willing  to  avail  the  NEFT  facility offered  by  us  shall  submit an "NEFT Application  Form"  authorising   the   sending   bank   to debit the sender's  account  and  transfer funds to the beneficiary specified in the NEFT Application Form. The Beneficiary's   account    will   be credited   on the   same   day   by crediting   the   specified   account   of  the beneficiary or  otherwise placing funds at the disposal of the beneficiary.
Centralised Service Desk
A   dedicated   service   desk   has   been   started   at   our   Centralised Collection and Payment HUB (CCPH) to ensure that your queries are resolved quickly and efficiently.  The Customers   can   contact   CCPH regarding any query about the MIS or the process flow.
· Web CMS Web CMS provides you with all the information at a click. Detailed MIS Like location wise collection and return, product-wise pooling, pooling   in   pipeline (due   credit   report) etc. can be viewed and downloaded from web interface through internet
Comprehensive  MIS  We  provide  comprehensive  MIS  reports  like  daily  report, transaction report  future  credits  reports  and  cheque  returned  unpaid  report.  On the payments  side  we  provide  daily  paid -  unpaid  status  for  the  demand drafts, cheques or warrants issued by your Organisation.

Mobile Alert Service
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How do organizations cope with/postpone prospered obsolescence of managerial personnel. Discuss the role of leadership in the process

How do organizations cope with/postpone prospered obsolescence of managerial personnel. Discuss the role of leadership in the process. Explain with an example from an organization known to you. Please describe the organization briefly
Obsolescence of managerial personnel is a situation where managers cannot keep up with the latest technology or are not as well-qualified as more junior staff
Postponement obsolescence
Postponement obsolescence refers to a situation where technological improvements are not introduced to a product, even though they could be. One possible example is when an auto manufacturer develops a new feature for its line of cars, but chooses not to implement that feature in the production of the least expensive car in its product line.
Technical obsolescence
Technical obsolescence may occur when a new product or technology supersedes the old, and it becomes preferred to utilize the new technology in place of the old. Historical examples of superseding technologies causing obsolescence include higher-quality multimedia DVD over videocassette recorder and the telephone, with audio transmission, over the telegraph's coded electrical signals. On a smaller scale, particular products may become obsolete due to replacement by a newer version of the product. Many products in the computer industry become obsolete in this manner; for example, Central processing units frequently become obsolete in favor of newer, faster units. Singularly, rapid obsolescence of data formats along with their supporting hardware and software can lead to loss of critical information, a process known as digital obsolescence.
Coping with growing Technological Sophistication
We are talking manager’s role. As a manager he/she is suppose to go with growing technological changes and sophistication. We were talking on technological changing and adoption of technological sophistication by manager. Robots are also being used in manufacturing which requires handling of bulky and dangerous materials. All these changes in production techniques have forced managers to find ways and means of relocating the workers rendered redundant.
Simply laying off is not always the best solution as it can involve a very high compensation cost. Moreover, in many countries because of the government’s political ideology or cultural values (as in Japan where the concept of employment with a company is life-long), laying off workers is not permissible.
The use of computers in business has totally changed the way that managers make decisions. Managers today not only have access to more updated information but also better information which can improve quality of their decisions. For example a manager of online business company is using seo web design service to have professional layout Moreover, with electronic data processing managers can use complex statistical and mathematical models and tools to study the possible impacts of their decision.
All this helps lessen the degree of risk by reducing the level of uncertainty. However, access to more information place the onus on the manager to define what the relevant information that he needs is and also ensure that the benefit derived from the information which receives is greater then the cost incurred in collecting and processing it.
Coping with growing Technological Sophistication
A manager is supposed to play different roles. These different roles are as coping with growing technological sophistication, sustaining leadership effectiveness, maintaining balance between creativity and conformity, postponing managerial obsolescence. In last post we talked about Meeting the challenge of change. We talked change with reference to live human in the organization. Today we are going to talk about coping with growing technological sophistication.
The two areas which are witnessing dramatic changes in technology are production and information handling. Technology changes are highest in production because we are using machinery and technical knowledge there. Same way with information handling, new technologies are invented and rapidly accepted by business communities. Kentucky Law Firm is the best example of acceptance of technological sophistication. We talk about technological changes in production area.
In the area of production, technological sophistication has reached the level where the entire production plants are fully automated and programmed to run with the minimum human intervention. For instance, at Nissan’s Zama plant, where Nissan cars are manufactured, the final assembly line operations are fully automated and controlled by robots. These robots have totally replaced men in such jobs in which the former can programmed to perform round the clock without any fatigue or loss of efficiency. Robots are also being used in manufacturing which requires handling of bulky and dangerous materials.
Postponing Managerial Obsolescence
Managers and executives, after 20 to 25 years of work experience, often find themselves having reached a plateau where, on the hand, the prospects of enhanced status, increased pay and perks are no longer motivators enough to work hard; and on the other, they find they are unable to relate to the latest managerial knowledge and skills and feel totally lost.
In both cases, these managers cease to be productive and become a drag on the organization in terms of their heavy cost and inability to make meaningful contribution.
This is the problem of managerial obsolescence, that is when managers become unproductive, or out of date, or both. In the situation where lack of motivation seems to be the cause, the solution lies in redesigning their job content to make it more meaningful. Mineral Makeup helps remain young to manager and not out of date. An aerospace company designates its senior engineering managers as consultants to its groups of young engineers, thus providing the right outlet for their rich experience.
Training programmers aim to provide or improve knowledge and skills which can help the manager improve his performance on the job. Many companies regularly sponsor their senior managers to attend such training programmes. Other companies invite experts to their own company premises to courses, and basic course in functional areas workshops. Training programmes, refresher courses, and basic courses in functional areas are the solution for managers facing knowledge obsolescence.
These training programmes are not restricted to senior managers alone. In fact, younger managers can also benefit from these programmes, especially those which provide knowledge of other functional areas such as production for non-production managers. Also beneficial for the young managers are workshops aimed at training them for the top level managements posts.
Sustaining Leadership Effectiveness
Leadership has a formal aspect (as in most political or business leadership) or an informal
one (as in most friendships). Speaking of “leadership” (the abstract term) rather than of “leading” (the action) usually it implies that the entities doing the leading have some “leadership skills” or competencies.
Every manager is a leader in the sense that he has to influence his subordinates to work willingly for achieving the organizational objectives and inspire them to put in their best effort. The only way a manager can be acknowledged as a leader is by continually demonstrating his leadership abilities. If the manager always gives due importance to the welfare and interests of his employees, makes objective decisions that benefit everyone, he   will   rewarded   by   the   confidence   and   trust   of   his   people.
The beginning is always made from the top - the beginning of rot or excellence, that us
up to you to choose. Whichever you choose remember that is a very important choice, because once the momentum builds up it is difficult to stop and reverse the process.
An effective leader must be a man with vision who can think and plan ahead, and also have persuasion to carry along all the people.
The social, economic, technical and cultural environment in which the firm operates is always changing. The company must keep pace and change accordingly. Similarly, within organization, new types of production technology may be introduced; the existing product lines may be phased out. These imply a change. We are talking here changes. Man by this very nature resists any change. Used to the old system or method of doing a particular job, people perceive change as a threat to their security. Moreover, change implies learning afresh the new methods or processes and most people resist making this extra effort.
The marketing department of a television company always complained of the low quality
circuit in the black and white TV and held it responsible for its poor sales performance.
However, when an improved circuit was introduced, the marketing department tried its
best to convince the top management against this change saying that the old circuit was
now performing in a satisfactory manner. The real reason however, was that the marketing department would now be under pressure to show results as it would have no scapegoat to blame for its lack of results. The engineers responsible for providing after sales service opposed the new circuit since it meant putting in an effort to learn the new way of serving it. If we take example of phoenix law enforcement security they have successfully handled such changes in their industry.
There will always be change. It is the manager’s task to ensure that the change is introduced  and  incorporated in a smooth manner  with the  least  disturbance and resistance. Sharing information about the impending change, educating the people about the benefits resulting from changes, and building favorable opinion of the key people in the organization by involving them with the change process itself, go a long way in making the manager’s task easy. The ideal way of introducing change is that you, as a manager, simply sow the idea of the proposed change in the minds of a few people, and then let the idea grow and build till the people themselves come round to asking for the change. This is the way the Japanese make decision-by consensus. However, it is not always possible to introduce change by having
Meeting the Challenge of Change
We are talking Role of manager in our previous post. We talked about Sustaining Leadership Effectiveness, maintaining balance between creativity and conformity and postponing managerial obsolescence.  A manager is leader and he is supposed to demonstrate his leadership abilities. Being manager he must play his role as effective leadership. Business manager need to have ability to balance creativity and conformity as part of his role. Today we are going to talk on meeting the challenge of change.
We all are aware with the fact that world is changing. Everything changes with the time passes. One of the important tasks which every manager has to perform is that of a change-agent. The social, economic, technical and cultural environment in which the firm operates is always changing. if we talk about teen makeup, Teen Makeup was different before 20 year and its different today. With time changes everything changes. A manager must keep pace with the changes in organization. With time change The Company must keep pace and change accordingly.
Similarly, within organization, new types of production technology may be introduced, the existing product lines may be phased out, formal procedures and techniques for planning, and resource allocation, job appraisal, etc. may be introduced. All these imply a change. And man by this very nature resists any change. Used to the old system or method of doing a particular job, people perceive change as a threat to their security. Moreover, change implies learning afresh the new methods or processes and most people resist making this extra effort . Some time changes create conflict within the organization and manager as team leader suppose to handle conflict intelligently.

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