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Variables

Models

  • Rui Ribeiro

    The Webster and Wind Model of organizational buying behavior is quite a comprehensive model. It considers four sets of variables which affect the buying-decision making process in a firm. These are environmental, organizational, buying center, and individual - Via Abey Francis

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Human resource management is the new version of personnel management. There is no any watertight difference between human resource management and personnel management. However, there are some differences in the some key matters.

Human resources of an organization are composed of all human beings working in that organization. Michael James Jucius in his book “Personnel Management” calls these resources `human factors’ which refer to “a whole consisting of inter-related, inter-dependent and interacting physiological, psychological and ethical components.

Performance Appraisals is the assessment of individual’s performance in a systematic way. It is a developmental tool used for all round development of the employee and the organization. The performance is measured against such factors as job knowledge, quality and quantity of output, initiative, leadership abilities, supervision, dependability, co-operation, judgment, versatility and health.

Areas of HRM oversight include – among many others -- employee recruitment and retention, exit interviews, motivation, assignment selection, labor law compliance, performance reviews, training, professional development, mediation, and change management.

A leader's role in an organization can be formally assigned by his or her position, like manager or department head, and it can also be informally assumed by an employee who possesses a certain charisma that attracts others to follow.

Brand irritation is not a new concept it was there even when the marketing theories were formed for the first time, but the term ‘brand irritation’ and its impact on the marketing concepts has been gaining momentum for the last decade.

Benchmarking is the process of comparing the cost, cycle time, productivity, or quality of a specific process or method to another that is widely considered to be an industry standard or best practice. Essentially, benchmarking provides a snapshot of the performance of your business and helps you understand where you are in relation to a particular standard.

The method to determine the best position on the efficient frontier line is the capital market line (CML). The capital market line is, graphically, a tangent line that can be drawn on a graph, connecting the return of risk-free-asset with the efficient market frontier. An investor is only willing to accept higher risk if the return rises proportionally. The CML shows where the most efficient portfolio lies on the efficient frontier line.

In order to compare investment options, Markowitz developed a system to describe each investment or each asset class with math, using unsystematic risk statistics. Then he further applied that to the portfolios that contain the investment options. He looked at the expected rate-of-return and the expected volatility for each investment. He named his risk-reward equation The Efficient Frontier.

The strategy canvas is one of the most useful tools in the blue ocean strategy methodology. It allows companies to analyse their current situation and understand the criteria and assumptions against which both they and their competitors compete. It helps establish where expenditure and focus are directed and can help an organisation understand its competitive value in the current environment.

The four actions framework asks four questions to sharpen the focus and realign the firm's game plan. The four actions framework can also be used to reconstruct customer value in an industry to identify a gap or find new value. The four questions as seen in the image identify factors that reduce, eliminate, raise and create value.

Derived from the book "Blue Ocean Strategy" (Harvard Business Review Press 20050), by W. Chan Kim and Renee Mauborgne, the term describes how instead of working in conditions, known as the red ocean, where businesses are viciously fighting against each other for a share of the marketplace, organizations should try and find a way to work in a marketplace known as blue ocean that isn't bloodied by the competition and is free of competitors.

The key targets of 5S are workplace morale and efficiency. The assertion of 5S is, by assigning everything a location, time is not wasted by looking for things. Additionally, it is quickly obvious when something is missing from its designated location. The 5S advocates believe that the benefits of this methodology come from deciding what should be kept, where it should be kept, and how it should be stored.

Learning consists of a relatively permanent change in knowledge or behaviors that result from practice or experience. This definition has three key elements: (1) permanent, (2) change, and (3) through practice. A temporary change in behavior or knowledge is not characteristic of learning. Learning takes place through practice, or the experience of watching others, although it is tempting to take shortcuts.

Reinforcement is the administration of a consequence as a result of a behavior. Managing reinforcement properly can change the direction, level, and persistence of an individual's behavior. n behavior modification, four types of reinforcement are available to help managers influence behavior: positive reinforcment, negative reinforcement, extinction, punishment. Positive and negative reinforcement are aimed at increasing a behavior, while extinction and punishment focus on decreasing a behavior.

In the 1970s Kenneth Thomas and Ralph Kilmann identified five main styles of dealing with conflict that vary in their degrees of cooperativeness and assertiveness. They argued that people typically have a preferred conflict resolution style. However they also noted that different styles were most useful in different situations. They developed the Thomas-Kilmann Conflict Mode Instrument (TKI) which helps you to identify which style you tend towards when conflict arises.

Organizations that emphasize clearly defined cultures that are aligned with company values enjoy better performance, greater financial gain and long-term employee commitment. Often involving customer or employee oriented approaches to business, rather than the self-serving systems of the past, company culture has become serious business.

Kurt Lewin proposed a three stage theory of change commonly referred to as Unfreeze, Change, Freeze (or Refreeze). This first 'Unfreezing' stage involves moving ourselves, or a department, or an entire business towards motivation for change. Second stage involves a process of change in thoughts, feeling, behavior, or all three, that is in some way more liberating or more productive. Refreezing is establishing the change as a new habit, so that it now becomes the “standard operating procedure.”

A new venture team is the group of founders, key employees, and advisers that move a new venture from an idea to a fully‐functioning firm. Usually the team doesn’t come together all at once.  Instead, it is built as the new firm can afford to hire additional personnel. The team also involves more than paid employees.  Many firms have boards of directors, boards of advisers, and professionals on whom they rely for direction and advice.

The organizational buying behavior process is well documented with many models depicting the various phases, the members involved, and the decisions made in each phase. The basic five phase model can be extended to eight; purchase initiation; evaluations criteria formation; information search; supplier definition for RFQ; evaluation of quotations; negotiations; suppliers choice; and choice implementation

The Webster and Wind Model of organizational buying behavior is quite a comprehensive model. It considers four sets of variables which affect the buying-decision making process in a firm. These are environmental, organizational, buying center, and individual.

Gap model of Service Quality identifies the different sources of gaps or differences between the service quality that a customer expect to receive from a service provider and the customer perception of of the service actually received. The gap model identifies 5 different types of gaps. The first four gaps are called company gaps, and the last or fifth gap is called customer gap - that is, the gap as perceived by customer. The customer gap is the resultant effect of the four company gaps.

The Alcar Approach is a type of Value Based Management model based on the discounted cash flow analysis and was developed by Alcar Group Inc., a management education and software company. The Alcar approach focuses on cash flows and avoids accounting based methods for calculating the shareholder value created.

The People Capability Maturity Model guides organizations in improving their processes for managing and developing their workforce. PCMM helps organizations characterize the maturity of their workforce practices, establish a program of continuous workforce development, set priorities for improvement actions, integrate workforce development with process improvement, and establish a culture of excellence.

The EFQM Excellence Model, a non-prescriptive framework based on nine criteria, can be used to assess an organisation’s process towards excellence. Organisations can use the model and the process of self-assessment to improve performance. It is flexible and can be applied to organisations of any size, in the public and private sector.