Amazing Beginning to Management Study

Knowledge about NITIE Event MANDI

MANDI is a concept of  “Think, Sell and Learn” which was adopted to help every student understand and discover management wisdom for himself. The central purpose is for basic education of children, to apply the classroom concepts of Marketing, Principles of Management, Business Economics, and Accounting taught in a B-School in the real field and to impart an additional dimension to the learning of the students who buy these toys.

Excellence = Efficiency (Efy)  X Effectiveness (Ets)

Be effective: do the right things; focus on end/ result to be achieved.

Be efficient: do the things the right way. Focus on means. Faultless and Speedy use of the means is the measure of efficiency.

Efficiency, like rules and procedures, is relevant only to facilitate effectiveness. It is more important to do the right thing than to do things right.

And Excellence is the combination of both Efficiency and Effectiveness.

Goal Setting and Management

Tower Building

The tower building game was performed by one of our batch-mates. It was about putting one square block over the over and achieving the maximum height possible till the tower fell down. 

It was about goal setting activity where an individual had to set the target of number of blocks based on his perception. Responses varied from 10 – 30 number of blocks. A student was randomly chosen who had himself set the target as 10. The student performed the exercise and the height achieved was 17 blocks. from this exercise, we had the following conclusions:

1) The students who had set the goal as more than 17 blocks had "Ambitious Goal" where Goal Set>Attainable Goal. The "Ambitious Goal" depends on the performance and goal setting by an individual.

2) The students who had set the goal as less than 17 blocks would now increase their goal to a higher number because Goal Set >Achievable Performance>Historical Performance. This is because the potential of an individual should increase after having performed the exercise which would lead him to set higher target for next time. If Potential is equal to Actual Performance, then Goal Set>Potential. Eventually, Goal is set to realize the Potential.

 Now the above exercise was performed by an open-eyed individual. The professor presented a case where the individual will be blindfolded and helped by two other open-eyed individuals for building the tower. He asked us what your targets will now be. It was observed that:

1) Some of the students lowered the target from the previously stated one and considered as Back Folders This is not preferred since the organization shouldn't lower their targets despite the hurdles which come across and should utilize more resources and increase the effort in order to achieve the previously defined targets.

2) Some of the students retained the target and are known as Maintainers. This is preferable as the organization continues to work towards the defined target despite the hurdle through motivation and team effort and effective co-ordination,

3) A few of the students increased the target and such students are therefore considered as Progressive Minds. There are organizations of such kind which expand even during tough times when others are contracting and avoiding risks. Best example can be during recession which though being a threat to many is considered as opportunity by some companies to expand their market share and invest cautiously.

Over all, the tower building exercise helped in discovering an important element in management which is the Goal Setting Process.