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Courseware
The fact of scarcity forces individuals, firms, and societies to choose among alternative uses – or allocations – of its limited resources. Accordingly, the first part of this summer course seeks to understand how economists model the choice process of individual consumers and firms, and how markets work to coordinate these choices. It also examines how well markets perform this function using the economist's criterion of market efficiency. Overall, this course focuses on microeconomics, with some topics from macroeconomics and international trade. It emphasizes the integration of theory, data, and judgment in the analysis of corporate decisions and public policy, and in the assessment of changing U.S. and international business environments.
- Subjects:
- Management
- Keywords:
- Microeconomics
- Resource Type:
- Courseware
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Courseware
15.875 is a project-based course that explores how organizations can use system dynamics to achieve important goals. In small groups, students learn modeling and consulting skills by working on a term-long project with real-life managers. A diverse set of businesses and organizations sponsor class projects, from start-ups to the Fortune 500. The course focuses on gaining practical insight from the system dynamics process, and appeals to people interested in system dynamics, consulting, or managerial policy-making.
- Subjects:
- Management
- Keywords:
- Business consultants Social psychology
- Resource Type:
- Courseware
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Courseware
This course covers the fundamental principles, practices and tools of Lean Six Sigma methods that underlay modern organizational productivity approaches applied in aerospace, automotive, health care, and other sectors. It includes lectures, active learning exercises, a plant tour, talks by industry practitioners, and videos. One third of the course is devoted to a physical simulation of an aircraft manufacturing enterprise or a clinic to illustrate the power of Lean Six Sigma methods. The course is offered during the Independent Activities Period (IAP), which is a special 4-week term at MIT that runs from the first week of January until the end of the month.
- Subjects:
- Management
- Keywords:
- Industrial efficiency Lean manufacturing Six sigma (Quality control stard)
- Resource Type:
- Courseware
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Open (Access) Journal-Article
This article investigates the integration of Lean and Six Sigma tools as a unified approach to continuous improvement and develops a Lean Six Sigma framework for selected automotive component manufacturing organisations in KwaZulu-Natal (KZN), South Africa.
- Subjects:
- Management and Business Information Technology
- Keywords:
- Production management Automobile supplies industry Six sigma (Quality control stard)
- Resource Type:
- Open (Access) Journal-Article
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Presentation
This video was recorded at European Conference on Machine Learning and Principles and Practice of Knowledge Discovery in Databases (ECML PKDD), Athens 2011. Comparing frequency counts over texts or corpora is an important task in many applications and scientific disciplines. Given a text corpus, we want to test a hypothesis, such as "word X is frequent", "word X has become more frequent over time", or "word X is more frequent in male than in female speech". For this purpose we need a null model of word frequencies. The commonly used bag-of-words model, which corresponds to a Bernoulli process with fixed parameter, does not account for any structure present in natural languages. Using this model for word frequencies results in large numbers of words being reported as unexpectedly frequent. We address how to take into account the inherent occurrence patterns of words in significance testing of word frequencies. Based on studies of words in two large corpora, we propose two methods for modeling word frequencies that both take into account the occurrence patterns of words and go beyond the bag-of-words assumption. The first method models word frequencies based on the spatial distribution of individual words in the language. The second method is based on bootstrapping and takes into account only word frequency at the text level. The proposed methods are compared to the current gold standard in a series of experiments on both corpora. We find that words obey different spatial patterns in the language, ranging from bursty to non-bursty/uniform, independent of their frequency, showing that the traditional approach leads to many false positives.
- Subjects:
- Management and Computing
- Keywords:
- Computational linguistics Text processing (Computer science) Discourse analysis -- Data processing
- Resource Type:
- Presentation
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Open (Access) Journal-Article
This work walks around the use of DMAIC methodology of six sigma to lessen the defect rate in sewing section of FCI (BD) LTD. Throughout five phases of DMAIC methodology, named Define, Measure, Analyze, Improve and Control, this approach minimizes defects analytically. In different phases, different types of six sigma tools were exercised.
- Subjects:
- Management and Business Information Technology
- Keywords:
- Clothing trade Production management Six sigma (Quality control stard)
- Resource Type:
- Open (Access) Journal-Article
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Courseware
Management is the organization and coordination of work to produce a desired result. A manager is a person who practices management by working with and through people in order to accomplish his or her organization's goals. When you think of the term manager, you may be imagining your supervisor as he or she hires and terminates employees and makes major decisions above your authority. However, although you may not view yourself in this way, you yourself may also be a manager. In fact, many of us practice management skills in the workplace every day. You may have a team of employees that you manage, or lead a project that requires management strategy, or demonstrate leadership qualities among your peers. These are all scenarios that require you to apply the principles of management. In this course, you will learn to recognize the characteristics of proper management by identifying what successful managers do and how they do it. Understanding how managers work is just as beneficial for the subordinate employee as it is for the manager. This course is designed to teach you the fundamentals of management as they are practiced today. This course will illustrate how management evolves as firms grow in size. It is based upon the idea that the essential purpose of a business is to produce products and services in order to meet the needs and wants of the marketplace. A manager marshals an organization's resources (its people, finances, facilities, and equipment) toward this fundamental goal. In this course, you will explore the tasks that today's managers perform and delve into the key knowledge areas that managers need to master in order to run successful and profitable businesses.
- Subjects:
- Management
- Keywords:
- Management
- Resource Type:
- Courseware
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Courseware
While big data infiltrates all walks of life, most firms have not changed sufficiently to meet the challenges that come with it. In this course, you will learn how to develop a big data strategy, transform your business model and your organization. This course will enable professionals to take their organization and their own career to the next level, regardless of their background and position. Professionals will learn how to be in charge of big data instead of being subject to it. In particular, they will become familiar with tools to: - assess their current situation regarding potential big data-induced changes of a disruptive nature, - identify their options for successfully integrating big data in their strategy, business model and organization, or if not possible, how to exit quickly with as little loss as possible, and - strengthen their own position and that of their organization in our digitalized knowledge economy The course will build on the concepts of product life cycles, the business model canvas, organizational theory and digitalized management jobs (such as Chief Digital Officer or Chief Informatics Officer) to help you find the best way to deal with and benefit from big data induced changes. During the course, your most pressing questions will be answered in our feedback videos with the lecturer. In the assignments of the course, you will choose a sector and a stakeholder. For this, you will develop your own strategy and business model. This will help you identify the appropriate organizational structure and potential contributions and positions for yourself.
- Subjects:
- Management and Computing
- Keywords:
- Business -- Data processing Big data
- Resource Type:
- Courseware
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Courseware
Designing a new business model is one thing, but how do you actually put it into practice? How do you move from your current model to a new business model? In this business and management course, you will learn how to make a practical action plan to implement your new business model. You will create a business model roadmap that will include practical activities that take into consideration the possible risks associated with moving to a new business model. You will also learn about the practical factors that need to be taken into consideration during the transition process, i.e. the competency of your people and your IT, in order to successfully implement a new business model.
- Subjects:
- Management
- Keywords:
- Business planning Strategic planning Industrial management
- Resource Type:
- Courseware
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Courseware
Do you want to enhance your business model by creating a clear focus or implement your new business model innovation into your IT? In this business and management course, we will discuss business model agility and how specific business model metrics will help you focus on the overall goals of our business. You will also learn about advanced tools to help support the bridge between business model thinking and IT implementation.
- Subjects:
- Management
- Keywords:
- Business planning Information technology -- Management Strategic planning Industrial management
- Resource Type:
- Courseware