Introduction

Introduction

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Management : Science or Art

Management is an Art

There is something intangible that distinguishes a good or great manager from the run of the mill people who run an organisation

Management is all about Science

Where you need to estimate needs, allocated resources and monitor progress on a scientific basis

Administration, Management & Leadership

Administration

Clear goals are set by an external agency and the individual needs to plan, execute and monitor the progress against the goals that have been set

Management

Goals are at a strategic level

Individual has to figure out what needs to be done to meet the strategic objectives and then plan, execute and monitor the progress both against tactical and strategic goals

Leadership

Explores and evaluate strategic opportunities

Take Risk

The Management Architecture

Business Domain Knowledge

Operations

Finance

Marketing

Human
Resources

Business Strategy

Systems Engineering

Quantitative Techniques

Physical Models

Saturn V Rocket to be sent to the moon

How much fuel should it carry ?

What should be the launch velocity ?

Model Rocket helps to understand the behaviour of the real rocket but at lower cost and risk

Mathematical Models

Mathematics of Ballistic bodies

Mathematics is made simple through software

Models in Business Management

What is the optimum level of inventory

Of raw materials ? Of finished goods ?

How will profit margins change if

Rupee appreciates ? Interest rates fall ?

How many people will our advertisements in

Bengali news channels ? IPL matches ?

What should we offer to freshers as salary during Campus recruitments ?

10% more than last year ? On par with my biggest competitor

Quantitative Techniques

Statistics and Probability

Gathering large volumes of data

Analysing and presenting this data in a manner that is convenient

Use this data to draw conclusions that aid and assist a profitable business

Operations Research

Taking decisions under constrained circumstances

Using

Least amount of raw material

Least number of people

Least amount of time

To deliver highest value

QT-I : Statistics & Probability

Testing of Hypotheses

Estimation

Sampling Distributions

Probability Distributions

Probability

Measures of Dispersion

Measures of Central Tendency

Grouping and Displaying Data

The Big Idea

Population

Source of ALL the data that we are currently interested in at the moment

We wish to draw certain inferences from this data

Sample

A selection from the population whose data is actually available to us

We can draw certain inferences from this data

Estimation

Drawing inferences on population data based on our inferences of sample data

Testing of Hypothesis

How confident are we of our estimation ?

Software Solutions
in Statistics

Why software ?

Statistics is a branch of applied mathematics

It has a strong theoretical foundation

In practice you have to process do calculations with a large sets of numbers. This has a

Theoretical aspect

Practical aspect

With the advent of computers the practical aspect has become very different.

SPSS

SPSS was released in its first version in 1968

SPSS is among the most widely used programs for statistical analysis in social science.

SPSS is used by market researchers, health researchers, survey companies, government, education researchers, marketing organizations and others.

OpenStat

Spreadsheet

Spreadsheet Again

The free, smart alternative

Kollaborative Klassroom

http://kk.praxis.ac.in

Kollaborative Klassroom

http://kk.praxis.ac.in

How to use KK

Signup to the network

Please use your full and correct name

Please insert your correct roll number

Customise your page

Background

Add your personal pictures, videos ..

Make it your own

Use the network

The Praxis Calendar at KK is the official calender

All course material will be delivered through this network

Very little hard copy or printouts

Contribute ideas, thoughts and discussion

Usage of this network is equivalent to Class Participation

Grading

1 End Semester Examination

1 Mid Semester Examination

3 -4 Quiz

Class Participation

Exact weightage will be announced later

First Assignment !

Create your profile in Kollaborative Klassroom

Find a video on the web that

Refers to Statistics or Mathematics

Can be either downloaded or somehow placed on KK

Rate each others video

Click to edit the title text format

Click to edit the outline text format

Second Outline Level

Third Outline Level

Fourth Outline Level

Fifth Outline Level

Sixth Outline Level

Seventh Outline Level

Eighth Outline Level

Ninth Outline Level

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