You are right sir. Pareto method is very very helpful for decision maker or strategist.
Prof P.K.Keshap
2017-08-24 12:05 GMT+05:30 Govind Autee <g.s.autee@gmail.com>:
Dear Sirs,Pareto analysis will indeed help launch strategic initiatives.
- Amidst the tens of thousands of management graduates churned out by the 5,500 B-schools in the country, only 7 per cent turn out to be employable, says a study conducted by ASSOCHAM.
"A large number of CAT aspirants, who qualify with a top quality 80 percentile score or above, seek admission in one of the top 100 colleges which only have a few seats on offer
- "The distinction between reputed business schools and others is through intellectual contribution by faculty members in the form of research, publications, usage of innovative pedagogical tools, conducting management development programmes and by providing consulting services," as per Dr Dholakia of IMI Delhi;
here is some statistics in management education space:
- If the top 20 per cent of CAT attempters, i.e. 40,000 students need to be enrolled, it would require 6000 quality educationists just for the top 100 B-schools alone!
- http://indiatoday.intoday.in/
education/story/mba-education- problems/1/712284.html Warm regards,G.S.Auteee--On Thu, Aug 24, 2017 at 9:18 AM, Kumar K <mpi678@gmail.com> wrote:E-friends, the members of MTC Global,1. For managing business or personal life, Pareto principle helps a lot. Jotting down the tasks and then assigning the value or simple priority 1,2,3 ........etc. works wonders, reduces anxiety, enhances effectiveness.2. In inventory management, in addition to ABC analysis, VED analysis and FSN analysis are also used. VED stands for Vital, Essential and Desirable while FSN stands for Fast moving items, Slow moving items and Non-moving items. Example of VED: A manufacturer of airplanes, manufacturers the airplane and finally the propeller of the plane is to be fixed but the material manager says: Oh, we don't have the "nut" in the stores. Now, the plane cannot fly for testing. The nut for fixing propeller may be costing 0.00000001% cost of the plane but it is "vital" because plane can neither be tested in the absence of propeller not it can be delivered to the buyer. Hence, loss to the organization.3. As a head of the unit, all these analysis need to be kept in mind and applied at ground level for more effectiveness and increasing the profit of the organization.4. Material cost is around 75% to 80% of the total cost of the product. Its management increases or decreases the profitability of the organization.With thanks and good morning to all.Prof P.K.Keshap--2017-08-23 17:17 GMT+05:30 Prabhakar Waghodekar <waghodekar@rediffmail.com>:Thank you Professor Auteeji for sharing your views.My take is:Regards, Dr. P H Waghodekar, PhD (Egg), IIT,KGP, IE&M, 1985, Advisor (HR), IBS & PME (PG) Marathwada Institute of Technology, NH 211, Beed by pass road, Aurangabad: 431010 (Maharashtra) INDIA. (O) 02402375113 (M) 7276661925 E-Mail: waghodekar@rediffmail.com Website: www.mit.asia and Chairman, Advisory Board, MTC Global, Bangalore. Engineering & Management Education: An Engine of Prosperity. Classroom teaching must match with Boardroom needs! From: Govind Autee Sent: Wed, 23 Aug 2017 16:41:40 To: join_mtc googlegroups.com> Subject: [MTC Global] It is all about Priorities.
- ABC or Pareto analysis is extensively used in manufacturing.
- In Time Management too, prioritizing activities plays a key role.
- In Inventory Control items are classified as ABC: A (15% items contribute 85% cost of inventory) B (25% contribute 10% of cost) C (remaining 60% items contribute 5% cost: figures not rigid but subjected to small variation) analysis is a normal practice. See the attachment: Best Case Study of the Year. Here cost of an individual item plays no significant role but the volume of items and their contribution to cost or worth. What is important therefore is to decide the worth of an item or activity.
- How to prioritize is of great concern, the key in decision making.
- Ishwarchandra Vidyasagar gave priority to his mother's call and left the lucrative job!
-- The views expressed are individual and not necessarily MTC Global also share the same views. To unsubscribe from the group , please send an email to join_mtc@googlegroups.com and write the heading as 'Unsubscribe'. Immediate action will be taken. --- You received this message because you are subscribed to the Google Groups "Management Teachers Consortium, Global" group. To unsubscribe from this group and stop receiving emails from it, send an email to join_mtc unsubscribe@googlegroups.com. For more options, visit https://groups.google.com/d/opDear All,Nobody is BUSY in this world, it is all about PRIORITIES.Here are fewways to apply the 80/20 Principle to our life:
- Do the 20% of your work that leads to 80% of your results.
- Locate the 20% of your customers who drive 80% of your profits
- Prioritize the 20% of your friends who provide 80% of your support and enjoyment.
- Fill your life with the 20% of your experiences that provide 80% of your happiness.
- Do the 20% of your workouts that lead to 80% of your physical gains.
Warm regards,G.S.Auteetout .
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