Lecture #3 Only: 9-8-14
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This 3 page One Day of Notes was uploaded by Clarissa Harvey on Monday September 15, 2014. The One Day of Notes belongs to 17180 at Kansas taught by Brian Russell in Fall2014. Since its upload, it has received 99 views. For similar materials see Survey of Management and Leadership in Business at Kansas.
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Date Created: 09/15/14
Lecture 3 September 8th 2014 Forces that affect industry competition 0 Barriers to entry For example if you take the jewelry V the oil industry 0 It is easier to have easy access to the raw materials you need to make jewelry from stores like Hobby lobby or Walmart it is much harder to get the materials you need to be successful in the oil industry Cellphones is another good example You cannot produce a cellphone without having important microchips and technology that is only sold by one company making it harder for someone to enter into the cellphone industry 0 Threat to substitutes 0 Power of suppliers 0 Power of customers series of steps in which value is added to raw materials resulting in delivery of an end product 0 Are you going to compete with costs or differentiate In other words are you going to be the Best Or the cheapest For example Walmart sells clothes and so does Nordstrom Walmart prides itself in being the cheapest price where as Nordstrom prides itself in having the best quality product Said that the US developed a lot of bad habits in manufacturin Mana ers be an to develo a Y thought process He talks about m 0 Ways in which quality is measured in a product is I Performance I Features I Flexibility I Durability I Conformance I Serviceability I Aesthetics I Perceived qualities I Timeliness I Accuracy I Consistency I Courtesy Apply basic statistics to a good service to get down to the process of variation You must aim to get the standard deviation down but raise quality by powering the employees who are putting hands on the goods You must empower your employees because they are the ones who are seeing what is going wrong in production or your corporation itself They must be comfortable enough to share things with you and management and not feel like their job is threatened or at risk for a mistake The Iapanese embraced total quality first and America waited until later to adopt it o For example in a car assembly line the Iapanese developed a string that the workers can pull when they notice that there is a defect or something going wrong in production I The US thought their workers would take advantage of this to get more breaks and it would cost them more money I It turns out it was very effective workers did not take advantage and they were actually able to prevent more defects and the amount of recalls 0 In the US employees were more afraid of giving upper management bad news then dealing with wrongful death or serious damages to consumers I For example A car company knew that the gas tanks were faulty but no one wanted to tell managers and stopped the cars from being shipped for consumers to buy it They would rather someone die from it then risk their job for being responsible for the defect o If you create a bad environment it will end up coming back on you I For example a doctor was preforming a surgery and a nurse dropped the instrument on the ground She was new and afraid to tell the doctor because he had a reputation for being an asshole So when asked for the instrument back she gave it to the doctor without telling him it was dirty I As the doctor he is responsible for the lives of his patience He created an environment were his staff was withholding important information from him that is vital not only to the health of his patients but to his career 0 Be productive I What can I do to make sure everything runs as smooth as possible 0 Begin with the end in mind 0 Put 1 things 1 I Be a good prioritizer OOOO Think win win Seek to understand and then to be understood Synergize with others humble yourself Sharpen the saw I Always learn get better and find your voice