MBA Made Easy

MBA for Beginners

These essays are an attempt to make an easy to understand the basic modules of an MBA course. This can be useful for anybody. Be it a student planning to take admission in a B-school or an entrepreneur trying to get a glimpse of the much acclaimed degree in the world. Even if somebody has finished his MBA course and wants to refer something to refresh his learning, these essays can be useful.

Human Resource Management

Humans are different from machines so it is altogether different to manage them. They should be treated as resources rather than as a mere cog in the wheel. Management is about optimizing the competitive advantage and in turn maximizing the return for an organization. In other words it can be said that HRM is managing the most valuable asset of an organization to enhance the longevity of the organization. The longevity can be possible if the organization sustains competitive advantage over a long time frame.

Marketing Management

A product can be either tangible or intangible. A product has many dimensions. The most important of them is the core product or the basic aspect for what it is meant. For example the main purpose of a car is to provide a means of transport. The second aspect is tangible product. If a car has better mileage and comfort then it has more potential to sell than a basic car. Then comes the augmented product. Apart from basic engine and comfort if the car has airbags, music system and latest fuel injection system then it will attract more affluent customers. The last dimension is potential product which is about foreseeing future needs and planning to satisfy those needs. Let us take example of hybrid cars which give a glimpse of what future cars may look like. While planning to add some extra features no organization can afford to ignore the core product. If a car has all the comfort, music system and air bags, but it cannot move an inch then it cannot serve the basic purpose for what it is made.

Total Quality Management

Taguchi talks about lack of variations against set parameters. As attaining 100% perfection is impossible in real life situations, so Taguchi talks about getting as closer to perfection as possible. Moreover, Taguchi harps on the issue of cost to the society in the long run if there is bad quality in a product or service.