Edward lewis, ceo of essence communications, strolls around the organization and starts spontaneous conversations with employees and others with the company. he says it allows him to keep his finger on the pulse of the organization. lewis engages in

Management by working around

Explanation:

 It is Management by Walking Around. MBWA, it actually means that managers spend some part of their time listening to problems and ideas of their staff, while wandering around an office or plant.

 Management by Walking Around is a term that was coined by Tom Peters. From his study of successful companies and their practices, Tom Peters observed that good managers tend to communicate a lot better with their team. Doing that in informal ways, like just hanging around in the office and chatting with them, rather than having formal interaction sessions in their boardrooms. The founder of, Walmart, was a great exponent of this practice. He believed in visiting as many of his stores as many times as possible and talking to frontline staff. The founder of House ofTara, a make up outfit goes round her stores and even works there just as to see the business through the eyes of the frontline staff

The idea of this practice is to listen. You must also respond to ideas or problems voiced and take effective action about them.

a manufacturer of printed circuit boards uses exponential smoothing with trend to forecast monthly demand of its product. at the end of december, the company wishes to forecast sales for january. the estimate of trend through november has been 200 additional boards sold per month. average sales have been around 1000 units per month. the demand for december was 1100 units. the company uses α = 0.20 and β = 0.10. make a forecast including trend for the month of january.

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