Modern Theory of Management & Supply Chain PDF

# Modern Theory of Management 1. Modern theory of management is a key to understand that organizations today frequently operate in dynamic environments. 2. All managers should absorb the modern theory of management, its benefits and its types. 3. The classical management theory asserts that only m...

# Modern Theory of Management 1. Modern theory of management is a key to understand that organizations today frequently operate in dynamic environments. 2. All managers should absorb the modern theory of management, its benefits and its types. 3. The classical management theory asserts that only money motivates employees, however, that is an inadequate proposition 4. According to the concept of modern management, employees are motivated by several different factors. 5. Business models are important for both new and established businesses. 6. The term business (model) approach refers to a company's plan for making a profit. It identifies the products or services the business plans to sell, its identified target market, and any anticipated expenses. 7. The logistic function is the storing, handling and moving of products and services so that the customers can get them at the right time, at the right place and in the right assortments. 8. A business development strategy is a document that describes the strategy you will use to accomplish that goal. 9. The Systems Theory emphasizes synergy and interrelation between the various links of an organization. 10. The modern theory of management strengthens decision-making abilities. 11. The modern theory of management increases adaptability. 12. A business model generally includes information like products or services the business plans to sell, target markets. 13. The Systems Theory of Management opens up a new world for managers and gives them a new management approach. 14. Customer value measures a product or service's worth and compares it to its possible alternatives. 15. The contingency theory of management says that no single management strategy works for every organization. 16. The Quantitative Approach isn't sufficient to run an organization. 17. The modern theory of management increases productivity. 18. Understanding the value, you provide customers can help you to better attract potential customers and better service existing ones. 19. Figuring out why customers are coming to your brand, in particular, helps you to better tailor your products and services to new audiences. 20. Customer value is the customer's perception of the worth of your product or service. # Supply Chain Management and Logistics Management Relationship 16. Supply chain management and logistics management have something in common and something of their own. 17. In our strong belief, logistics management is part of the supply chain management and supply chain management encompasses all logistics activities of the firms. 18. In logistics management, unwise decisions create multiple issues. 19. Logistics and supply chain management are highly interrelated, but are significantly different aspects of the contemporary strategic thinking. 20. The manager needs relevant information's in order to assist at the pacification, control and foundation of the decision. 21. The relevant information is characterized by the increase of the knowledge grade. 22. The relevant information is characterized by reducing the indeterminacy. # Logistics Management 1. Logistics means the art of calculation and reasoning, in contrast to supply chain management. 2. Logistics is the work required to move and to position inventory throughout a supply chain. 3. Logistics is a subset of and occurs within the broader framework of a supply chain. 4. Logistic management is a supply chain management component that is used to meet customer demands through the planning, control and implementation of the effective movement and storage of related information, goods and services from origin to destination. 5. Logistics management helps companies reduce expenses and enhance customer service. 6. The most well-known logistics achievements in ancient time are the pyramids in Egypt and the Great Wall in China, to name a few. 7. Logistics is the process that creates value by timing and positioning inventory. 8. Integrated logistics serves to link and synchronize the overall supply chain as one giant continuous process and it is essential for effective supply chain connectivity. 9. The scope of the logistics strategy is now the entire supply chain, not just each individual unit in the chain. 10. Supply chain management is a new concept of management that has gained its popularity since 1980. 11. Logistics management has been perceived as organization's traditional business or non-business activity since ancient time. 12. Logistics is the combination of firm's orders management, its inventory, transportation policy, warehousing, materials handling, and packaging as integrated throughout a facility network. 13. According to the 5 Right conception logistics is the process of delivery the right product to the right place at the right time under the right condition and cost for the right customer (Douglas et al 1990). 14. Logistics management is a part of supply chain management. 15. Supply chain management is strongly and strictly identified with logistics management and vice versa.