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MGT601 - SME Management - Lecture Handout 18

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PROBLEMS FACED BY NEWLY ESTABLISHED COMPANY

This lecture will continue with the previous lecture problem and then chapter deals with the teething problem that a newly established company faces.

Cash Flow Analysis

If the projected sales associated financial requirements and available financial resources are known, the anticipated cash flow can easily be determined.

Cash Flow (Projected)

Cash Flow and Financial Transactions Period 1 Period 2
1) Cash flow    
Initial expense    
Fixed investment    
Operating expense    
Total cash outflow    
2) Cash inflow    
Cash sales    
Account receivables    
Total operating inflow    
3) Net cash flow (2-1)    
4) Desired minimum cash balance    
5) Total amount of funds required
[3 (if negative + 4)]
   

Read more: MGT601 - SME Management - Lecture Handout 18

MGT613 - Production / Operations Management - Lecture Handout 25

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Related Content: MGT613 - VU Lectures, Handouts, PPT Slides, Assignments, Quizzes, Papers & Books of Production & Operations Management

TOTAL QUALITY MANAGEMENT

Total Quality Management is a philosophy that involves each and every individual in an organization in a continual effort to improve quality and achieve customer satisfaction.

The TQM Approach

TQM is not called philosophy for nothing. It is that common viewpoint as well as attitude shared by the whole organization that helps the organization achieves its prime objective of increase in revenue as well as a continuous relationship with the customer, by providing a quality based service which fulfills the customer’s needs and requirements.

If we apply the TQM approach we can identify the role played by various departments and interfaces of the organization. These roles at the functional and departmental levels if not in line with the organizational strategy would not allow the organization to pursue TQM.

Sr. # TQM Approach Department
1 Find out what the customer wants Marketing
2 Design a product or service that meets or
exceeds customer wants
Design Dept
3 Design processes that facilitates doing the job
right the first time
Operations Dept
4 Monitor and Audit (Keeping track of) results Senior/GM Managers
5 Extend these concepts to suppliers SCM / Logistics/Warehouse /Materials

TQM CRITICISMS

TQM Philosophy is often criticized for reasons which show weak implementation or poor management perspective. The common criticism against TQM is:

Read more: MGT613 - Production / Operations Management - Lecture Handout 25

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