(declared u/s 3 of the ugc act 1956) kaizen volumes/kaizen vol- ii.pdf · product : nokia lumia 730...

KAIZEN Newsletter from the Faculty of Management Studies

MBA degree is a great way to broaden career options of the students,

regardless of their undergraduate degree. The reason that MBA is sought after is,

that it allows you to move functions, move industries and also help acquire the

skills to develop an entrepreneurial idea. Faculty of Management Studies

(FoMS) is a student centric Institute that aims at the holistic development of

student community and at creating future entrepreneurs through curriculum

based and co-curricular based learning. We strive to promote an open learning

environment in the field of management and entrepreneurship through

education, skill building and life skills training. FoMS aims at creating managers

who are equipped to address critical challenges faced by industry and society. It

also aspires to be a research institute with strong linkages with the industry and

society by encouraging faculty, students and research scholars to always be on a

learning curve with a strong focus on exploring and innovating. To ensure that

management thinking remains infused with practical relevance FoMS tries to

maintain a strong industry – academia linkage through industrial visits, MoUs,

guest lectures, project assignments etc. It endeavors to remain at the crest of

change by updating the curriculum as per the changing times so as to make it

industry relevant.

April issue - Vol II : FoMS, Dr MGR Educational and Research Institute University

Dr. M.G.R.

EDUCATIONAL AND RESEARCH INSTITUTE

UNIVERSITY

(declared u/s 3 of the UGC Act 1956)

COURSES OFFERED: MBA – Full Time and Part Time programs

BBA

PhD

SPECIALISATIONS OFFERED: DUAL ELECTIVES:

Marketing Finance Human Resource Management Information System Supply Chain Management Health Management Operations Management Hospitality and Tourism Management International Business Management Entrepreneurship Management Sports Management

Students can choose any stream of specialization in the third semester. They are

also given practical insight on various aspects of management through

internship in the final semester, industrial visits, soft skills training, and guest

lectures by eminent persons from industry. Committees and clubs are run by

students in order to challenge and enhance their ability to manage and deliver.

Finance, HR, Marketing, Soft skills, Systems and Entrepreneurship clubs of

FoMS are entirely student initiatives. The Soft skills club which conducts

debates and group discussions on current affairs, book reviews, film reviews etc.

caters to the varied interests of students and fosters an all-round development.

FoMS follows a four-pronged approach: Learning, Linkage, Research, and

Responsibility (LLRR) .

1.Learning environment: participative learning and

holistic development of students & faculty,

innovative pedagogy of teaching.

2.Linkage with Industry

3.Research environment

4.Responsibility: CSR


We need to remember that a good tide can keep the boat afloat, but doesn't

guarantee progress or direction. MBA is a degree, not a guarantee and does

not give keys to a bank vault. MBA opens at best the first and second doors; it

is a not a guarantee for success. Success comes from a number of other things.

These other things are the life skills that students acquire while working on

something that goes beyond the curriculum. Participants benefit academically,

socially and emotionally when choosing meaningful extracurricular activities.

The focused nature of these activities allow students to explore their interests

while still in college and build a variety of skills like time management,

creativity, writing , teamwork, accountability, problem-solving and leadership.

Each member of the team in FoMS will have their own achievements and will

leave behind their own mark in life. This Newsletter is to document and

showcase those achievements, connect with academic institutions, industry,

students, alumni, and parents, and build a bridge with all stakeholders. Hope

this bridge stays strong and beautiful. Thanks to all my team members and

students who have helped in this venture. You all are the shining stars that will

brighten this department, let this light never fade! All the best!

Happy Reading

Dr Malini Pande Head – Faculty of Management Studies

Social inclusion is a tradition in Dr.MGR University that is reflected by

the CSR initiatives undertaken by the FoMS. We wish to create managers,

leaders and entrepreneurs of the future who will contribute towards the

development of the national and global economy. To reach this goal we

follow an innovative pedagogy of learning. Case Studies, Videos, Role

plays, Group discussions, Debates, News article reviews, Guest lecturers

& Seminars, Industrial Visits, Projects & Internships etc. are weaved into our

teaching pedagogy.


S.no Date Event Participants Dept. event

organizer

1 4/08/2014 Guest Lecture MBA II year

Students

Dr.Neeraja

2 7/08/2014 MSME MOU Inauguration

& seminar Six Sigma

Faculty and

Students

Dr.Neeraja Dr J Sridevi

3 12/08/2014 ICTACT Youth summit MBA II year

Students

Dr J Sridevi

4 13/08/2014 Tally workshop MBA II year

Students Dr.K.Vimala

5 26/08/2014 NIQR Students Chapter

Inauguration

MBA II year

Students Dr.Neeraja

6 Sep 10-13th

2014

Business plan Competition Students Dr.Uma Rani ,

Dr.Uma Thiruapthy

& Dr J Sridevi

7 12/09/2014 Research Methodology Workshop MBA II Year and

MCA Mphil

Students

Dr.UmaThirupathy

8 12/09/2014 Seminar on “ Budget, Capital

Markets and Economic growth”

I M.B.A and II

M.B.A Students Dr. S. Archana Bai

Dr. K.Vimala

9 13/09/2014 ICTAT FDP on Advanced

Communication and Leadership

skills

Faculty members Dr J Sridevi

10 14/10/2014 SEBI ,CHENNAI VISIT MBA II year

Students Dr.k.Vimala

Dr.S.Archana Bai

11 10/11/2014 Seminar on Import & Export

Documentation procedure MBA I Year and

II Year Students

M.Radhikaashree &

Dr.J.Sridevi

12 10/11/2014 MSME Value added certificate

courses

Faculty and

Students Dr.J.Sridevi


S.no Date Event Participants Dept. event

organizer

13 12th to 14th

Nov

B Plan formulation – campus

business I MBA- students Dr.P.Uma Rani

Dr J Sridevi

14 17th Nov Outreach program on Health and

Hygiene at Thiruvallur.

I MBA- students

Dr.P.Uma Rani

15 19/11/14 Workshop on “ How to invest in

stock market”

II M.B.A – Stu-

dents

Dr.Neeraja

16 24/11/14 ICTACT BFSI Training Program

Inauguration

Faculty and

Students

Dr.J.Sridevi

17 26/11/2014 One day seminar on “ Professional

Etiquettes”

II M.B.A Stu-

dents Ms. R.Sindhuja

Ms. J. Rachel Priya

18 8/12/2014 Product Launch by Nokia –

Product : Nokia Lumia 730

I M.B.A and II

M.B.A Students

Dr.S. Archana Bai

19 19/12/2014 Siksha– Educate and Empower-

A CSR Activity

Higher Secondary

School Teachers

Dr.J.Sridevi

Ms.R.Sindhuja

Ms.J. Rachel Priya

20 24/12/2014 ICTACT BFSI Valedictory

Function

Faculty and

Students

Dr.J.Sridevi

21 7/1/15 Workshop on “ How to analyze a

case study”

I MBA- students Dr.Neeraja

22 7/1/2015 Research Methodology and

application in engineering domain –

Case study discussion. Technical

talk

IM.B.A students Dr. Jayam

DR. Neeraja

23 20 & 21/1/15 FDP on “ Investment Analysis” Faculties of

M.B.A Dept.

Dr.Neeraja

24 Oct 2014 to

Jan 2015

The Big Leap- Philips India Pvt Ltd

A Consultancy Project Through

Pulp strategy

MBA II year

Students

Dr.UmaThirupathy

Ms.J. Rachel Priya


Industry Institution Interaction – MoU Signed

Students need to interact with the external business environment for gaining

practical knowledge. In order to facilitate and enhance the Industry Institution

interaction, the Faculty of Management Studies has signed MoU with the

following Institutions.

Ministry of Micro small and Medium Enterprise (MSME)

National Institution for Quality and Reliability (NIQR)

Scientific Research Association for Economic and Finance (SRAEF)

ICT Academy of Tamil Nadu (ICTACT) - ( Institutional membership)

Bombay Stock exchange (BSE) – Broker‟s forum

Institute of Cost Accountants of India (ICAI)

All India manufacturers Organization (AIMO) - (Institutional membership)


Our students have been placed in the following companies:

Nova Technologies

Agility Logistics

Tweetal Technologies

Covenant Consultancies

99 acres

Standard Chartered

Sieger Groups

Premier Steel P ltd

Ambey Metallic P Ltd

Zeebronics

RBS

Rich Café


Cumulative Total Placed

CUMULATIVE TOTAL PLACED

CUSTOMER SATISFACTION VS SUCCESSFUL BUSINESS B.NEERAJA AND R.JAYAM

1Asst.Professor

2Professor

Faculty of Management Studies, Dr.MGR Educational and Research

Institute University, Maduravoyal, Chennai

(Journal : Golden Research Thoughts, Vol 2 Issue 9 March 2013, Impact Factor : 0.1870, ISSN No :2231-5063)

Abstract: In the present scenario of business

competition each company is striving too hard

to be successful. He has competitor in and

around his own organization. It is very difficult

for a business to survive without the knowledge

of his loyal customers tastes and trends. If his

is not in a position to meet the expectations of

the customer his is lost in this competitive

business world. Survival of the fittest is the

strategy of the business. If you are not updated

and upgraded with the pace of the competitive

world it is sure that the business is going to see

a downfall within n a very short span.

To extend the life of the product and business the company should be at par with

the current trends. Only the smart worker who is in constant touch with his

customer and who caters for the needs of his customers can survive in the

market. The mind of a customer is like a dark room . No one can judge the

thought process of his mind unless and until he reveals what he wants. In fact at

times he himself do not know what he want. He cannot give a clear or

definite explanation to what actually satisfy him to the maximum extent,

Therefore satisfying a customer to the full extent is a difficult task for the

marketer. But once you come to know the pulse of your customer you can track

their needs and see to that they get full satisfaction. For that marketers have to

understand the expectations of customers even before he try to explain his need

in detail


INTRODUCTION: The greatest global bubbling of the economy in2009 has changed the thought

process of the all business people. Every small and big business started to run the

race to retain its set of brand loyal customers. They have realized the truth that if

and only if customer is satisfied the business can survive in the market race else

he will lose the game of business. The bottom line to win that race and survive

the recession was only to redo the strategy to retain its customers.

This could be done only if customers are

Satisfied,The recession has made markets

shrink, companies to scramble to boost

customer satisfaction and keep their current

customers rather than devoting additional

resources to chase potential new customers.

The claim that it costs five to eight times as

much to get new customers than to hold on

to old ones is key to understanding the drive

toward benchmarking and tracking customer satisfaction.

KEY INDICATORS FOR PHYSICAL PRODUCTS

Reliability

Aesthetics

Adaptability

Usability

Functionality

Appropriateness

KEY INDICATORS FOR SERVICES

Friendliness/courteousness of

employees

Safety/risk of service

Billing/invoicing procedure

Responsiveness to requests

Appearance of physical facilities

Approachability of the service

provider

Willingness to listen to customer

Honesty and an ability to communicate in clear language


Of course, customer satisfaction is influenced

by a complex interplay of factors; it's hardly as

simple as plugging numbers into a formula and

calculating the result. Nevertheless, this calcu-

lation serves as a reminder that your customers'

level of satisfaction can be affected by changes

in either their expectations or your perfor-

mance. That means you have to pay attention to

both. And that's where things can get tricky, be-

cause how you perceive your performance may

differ from how your customers perceive it. In

fact, discrepancies between your perceptions

and theirs would not be at all unusual. The re-

verse is also true: If you really are unrespon-

sive, but customers perceive that you deliver

superior service, then you do (in their eyes),

and you gain little by trying to convince them

otherwise.

MODELS OF EXPECTATIONS AND CUSTOMER SATISFACTION: Expectations are beliefs (likelihood or probability) that a product or

service (with certain attributes, features or characteristics) will produce certain

outcomes (benefits-values). These expectations are based on previous affective,

cognitive and behavioral experiences. Expectations are seen as related to satis-

faction and can be measured in the following ways:

1.Importance-Value of the product/service fulfilling the expectation;

2.Overall effect-Satisfaction Expectations: The (liking/disliking) of the

product/service;

3."Predictive Fulfillment" and is a respondent specific index of the

performance level necessary to satisfy.

4.Expected Value from Use: Satisfaction is often determined by the frequency

of use. If a product/service is not used as often as expected, the result may not

be as satisfying as anticipated. Here are few steps how a customer must be

dealt to impress him and make him a satisfied customer. Service is the best

method to retain and gain more customers.


STEPS: TO ACHIEVE SERVICE WITH CUSTOMER DELIGHT Step I

Greeting the customer by:

Acknowledging the customer by attending him as soon as he enter into the

premises

Greeting him with smile as `good morning sir/madam' may I help you

Enquire and understand the purpose of his visit to your office or premises

Direct the customer to the concerned staff or table according to his

requirement

Try to escort him to the concerned table or room in a friendly manner

Step II

Listening to the customer:

Listen with eye contact the requirements of the customers.

Undivided attention to the discussion of the customer

If required take up notes to his list of requirements

Let him know that you care for his problems by nodding your head for his

requirements

Show that you are enthusiastic

Step III

Empathizing the customer:

Be in customers shoes while listening to the customers

Apologies if required and appreciate if required according the talks

Summarize the resolution and discussion as you have understood the

contend of the talk

Have commitment should be given to the discussion

Step IV

Summarizing the talks:

Summarizing the discussion to confirm whether you have understood the

requirement of the customer in

the same way as he wants to convey you.

Check if he requires any other support

Get feedback on customers experience

Do not forget to take the list of reference he can provide you (this will be

revealed only if he is satisfied)

Without fail thank the customer for visiting your office


Step V

Results:

Escalate and follow – up on commitment for his quires

Ensure that adherence

Call back on resolution and update of the progress in his problems

Understand the customer experience from his own words.

CONCLUSION: Customer satisfaction is one of the important concept where, if concentrated a

business can be successful. If and only if a company is able to retain its set of

brand loyal customers it can survive in the competitive world of business. For

which the marketer should understand the requirements of its customers and

then try to fill the gap between their demands. The manager must take all

Efforts to fill the gap by efficiently supplying the products or services. The

underlying mantra of a business is serve your customers he will help you to

survive'.

REFERENCE:

1.European Commission (2005): Development of indicators on consumer

satisfaction and Pilot survey.

FINAL REPORT. Conducted by INRA & Deloitte, page 19.

2.Spring R., Mackenzie, S., and Olshavsky, H. (1996). A reexamination of the

determinants of consumer satisfaction, Journal of Marketing, 60, 15-32.

3.Bearden,W and Teel, J. (1983). Selected determinants of consumer

satisfaction and complaint reports. Journal of Marketing Research, 20, 21-8.

4.The gulf between satisfied customers and completely satisfied customers can

swallow a business." -- Harvard Business Review, November/December 1995.

5.A Critical Review of Customer Satisfaction. Review of Marketing.

V.A.Zeithmal. Chicago, American Marketing Association.

6.Customer Relationship Management by Jadish Seth. Macmillan Publication.

7.Journal of Consumer Behavior ICFAI .September 2006.



Dr Malini Pande

Dr S Archana Bai

Dr K Vimala

Dr B Neeraja

Dr J Sridevi

Dr A Devendran

Dr M Vijayakumar

Dr M Radhikaashree

Ms J Rachel Priya

Mr S V Elumaliyan

Mrs R Sindhuja

Dr Uma Rani

Mrs S Kiruthigha

Mrs B K Shrividhya

Mrs V Gowri

Mr G Saravanan

Mrs M Radhajayalakshmi

Mrs M Chamundeswari

Faculty Editor:

Ms B K Shrividhya,

Assistant Professor,

Faculty of Management Studies,

Student Editor:

S Hari Suthan,

First Year,MBA „A‟ SEC.

(declared u/s 3 of the ugc act 1956) kaizen volumes/kaizen vol- ii.pdf · product : nokia lumia 730...

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