Sunday, November 9, 2014

Portfolio Management - Let The Professionals Take The Load

Do you have a lot of shares in different companies?
Do you have a large sum that you are looking to invest in the stock market?
Are you finding that doing the essential research too time consuming?

You might want to consider a portfolio management company.

Share Portfolio management is an option for those with a high value portfolio of shares, or a large amount of capital to invest in shares and commodity futures. Portfolio managers have various minimum values that they require to actively manage your investments.

The reason large minimum values are in place is because of the high commission charges that these companies make. It would not be worth a small investor, with $10,000 employing a company to manage his portfolio of shares in one or two companies.

Having a professional Portfolio Manager does remove a lot of anxiety from the individual. The manager's role is to ensure that your portfolio is a balanced one, without excess exposure to currency fluctuations or to any one sector of the market.

It is part of the managing company’s role to conduct research, so that they can advise you on the best options. Research is an area that many individual investors find difficult, unless they spend hours every day watching share prices. The professional advisor employs people to conduct research into specific companies or market sectors, allowing you access to better research than you would have otherwise.

Your Portfolio Manager will also ascertain the degree of risk that you are happy with and ensure that your portfolio of shares is not at odds with your risk acceptance.

For anyone with a smaller amount than a Portfolio Management Company will manage there are other options. Look at Investment Trusts and Unit Trusts. These are companies which take investors cash, pool it and buy a balanced portfolio of shares in stock market companies, reducing the investor's overall risk.

Saturday, November 8, 2014

Payroll management service for your online business

First of all, I would like to give you brief introduction about Payroll management system. It is especially for big and average companies. Board of directors, management executives and managing directors know very well that if they want to success their business then it must be well managed. Handle to big venture through man power is very difficult. Businesses can be thankful who handle the payroll management.

Generally business owners are spending their time to manage peoples, employee salary management, client management etc. Sometimes business owner can be mistake to give proper salary and employee come back to owner for this solution at that time payroll management system can help to decrease this kind of issues. It will help to business owner to focusing another area like get more clients, effective works etc.

You can easily trust on Payroll system because it is very accurate and also help to decrease time for small business owners. Payroll accounting system is one of the most effective area where could be benefits from outsourcing and doing job perfectly.

There are many features available in Payroll MYOB software such like at advance leave management and leave enhancement details, up to date employee timesheet, automatic credit their salary to direct bank, reminder setup and many more feature available through. If you are taking more time to spend for looking after the payroll than you'd like to Payroll management software. MYOB Payroll is the complete payroll software solution to growing business. You can handle up to 20 employees using MYOB Payroll because it allows to creating payroll data file which can pay. It’s only for small company. Windows payroll system program is fully features that are suitable for any size of business setup.

We at Office buy Ltd. are selling  officebuy.co.nz/Index.aspx MYOB payroll management software , business application software, retail management enterprise, business supporting software in Auckland, New Zealand.

Thursday, November 6, 2014

Organize Your Life With Document Management Software

Over the years, it becomes quite a tedious job to rummage as well as sort through your files. This has led to an increasing demand for document management software. It is now a whole lot easier to organize your paper documents from paper format into digital archives.

1. Itaz doQuments

Itaz doQuments document management software is a document management application that can help you create a more centralized, searchable database for all your electronic documents. Saved scanned documents must be in PDF, TIFF or PEG file formats so that the document management software can process them. For easy reference, you can put additional indexing information to your electronic documents so that you will use these information to quickly find as well as group your documents based on whichever criteria that you can come up with.

The document management software is available in three editions: from the Standard edition to the Professional edition to the Enterprise edition. You can choose from these three editions the type of doQuments document management software that can cater to your needs and lifestyle. Each edition of this document management software is specially designed for:

- Individuals
- Small businesses
- Large organizations

Starting from this document management software's Standard Edition, this edition of the doQuments document management software application is especially designed for the home as well as for the use of small offices. It is the easiest one to use out of the three and provides an effective solution in the managing not only of paper but as well as electronic documents.

One of its key features is its ability to provide the multi-user environment - users from multiple computers can have access to the doQuments document management software simultaneously. As for being economical, this document management software is fairly easy to upgrade once you start thinking of getting the doQuments' Professional or Enterprise document management software editions.

2. Advanced Features

Paramaterized search results ensures you can easily locate the documents that you need in just one mouse click. DoQuments is ideal for companies with large intranet or internet sites as it is possible to integrate them easily.

Operational Risk Management Awareness

The term Operational Risk Management (ORM) is not new. It has been tossed about in businesses across North America for the last several years. ORM and the oft associated term Enterprise Risk Management (ERM) have generally been used as corporate buzzwords, business culture idioms referenced in board meetings and articulated during presentations. Recent developments, such as the creation of the Sarbanes-Oxley (SOX) Act in 2002 in response to growing financial scandals in the U.S., have brought Operational Risk Management, Enterprise Risk Management and related concepts from the backrooms to the forefront of corporate America.

The inescapable reality is that every single day businesses incur losses and experience operational disruptions due to failures by employees, incorrect implementation of processes and technologies as well as wilful disobedience to internal controls. These losses may be manifest in the form of uncollectible receivables from disappointed clients, lost sales due to call centre failures or unproductive employee downtime when computer systems are unavailable, or a host of other potential problems. While most businesses have developed ad hoc methods of dealing with such losses in the past, legislation (such as SOX and the Basel Accord) has made standardized compliance procedures much more complex. Thankfully, just as these new rules have given rise to increased awareness of ORM/ERM, new tools (including Risk Management software) have been developed to aid compliance efforts.

The new regime of Sarbanes-Oxley, under the direction of the Public Company Accounting Oversight Board (PCAOB) which is in turn accountable to the Security and Exchange Commission (SEC), has undoubtedly benefited the business world by providing a foundation from which to decrease corporate fraud. However, the complexity and associated technical, labour and administrative costs posed to business is also considerable. The realities of both individually large and collectively mundane errors resulting in loss, as well as the newly regulated reporting of those losses, affect virtually all areas of every business each and every day. Therefore, it is in each company’s best interest to simultaneously find ways to cut losses while keeping regulatory compliance costs down. Hence the rebirth of Operational Risk Management/Enterprise Risk Management and the new demand for Risk Management software solutions.

Traditionally, few operational losses were measured in any accounting system, and rarely were the loss incidents tracked and analyzed in any way; the time and paperwork required to do so was simply daunting. Because there was no standard legislation in place, any Risk Management software tools were often proprietary and slightly more than electronic log books at best. New technologies and attitudes have allowed loss incidents to be seen as more predictable and able to be grouped into risk categories. Proper analysis of these incidents can result in attribution to root causes which aids in mitigation. Even this beginning leads to dramatically reduced costs while achieving huge gains and strategic advantages from well crafted Operational Risk Management policies and Enterprise Risk Management procedures.

Changes in legislation, technology and attitudes related to ORM/ERM have produced not just economic gains, they have led directly to re-invigorated business innovation and even created improvements in the quality of life. For example, safety, quality and environmental related loss incidents have proven to be not only manageable and avoidable, but sound management of these issues has conferred greater advantage on those who succeeded while driving many who did not adapt out of business. While large scale corruption may have brought about regulatory changes, these changes have spurred a re-visioning of Enterprise Risk Management. Advanced Risk Management software has allowed business to more directly mitigate losses. This has resulted in a cleaner, more efficient and more competitive business environment.

In the post-SOX environment, the same social and political pressures on organizations are present. Improved attitudes and tools have encouraged the proliferation of sound Operational Risk Management to the economic and strategic benefit of those properly prepared for the journey.

Wednesday, November 5, 2014

Musketeer Management: All For One and One For All

There’s nothing like being in a great team. It is one of life’s greatest highs and one of the real pleasures of going to work. Unfortunately, though, for many, it is a dream to be longed for rather than a daily reality. In teams that don’t click, the experience is frustrating, painful, and stressful. And for the organization that allows such teams to exist, an unproductive waste of talent.

But all that can change.

With 7 simple acts of teamwork, teams can change from being the source of our greatest anguish into being the source of our greatest joy. Here’s how.

1. Sharing. If you want to measure the strength of your team, do a sharing audit. Simply record the number of acts of team sharing in any day. That’s sharing information, sharing ideas, sharing feelings, values and needs. Or simply just sharing being together. Your score will tell you just how together your group is. The most important feature of team sharing is goal sharing. If your people don’t even share the team goal, chances are you have a bunch of individuals who happen to work near each other, not a team.

2. Asking for Help.  Strong teams are strong because the individuals in it have different but complementary qualities. Sue’s a great detail person. John sees the big picture. Ron gets on with everyone. Jill is a loner. And so on. That means that when anyone has to do something they’re not particularly gifted at, they can turn to someone else in the team for help. In strong teams, you frequently hear people asking for help. In poor teams, it is considered a sign of weakness.

3. The 3 A’s. Another audit you can do to find out if you have a team or just a bunch of individuals is the 3 A’s Audit. The 3 A’s stand for Appreciating, Accepting, and Acknowledging. They are the features of great teams and stand in contrast to the 3 C’s of poor teams: Criticising, Complaining, and Condemning.

Accepting means letting people know they’re valued members of the team. Acknowledging means letting them know they belong. And appreciating means letting them know the team just wouldn’t be the same without them.

4. Valuing Others. We all need to feel important. When we are valued, we take pride in who we are and what we do.
Warren Bennis, professor of business administration at the University of Southern California, describes his campus as “a dry, crack-infested part of LA”. But, he says, every morning is a delight because the grounds of the campus are so fresh and well-kept. He adds: “It makes a big difference to me. But I wonder if anyone has reminded the gardeners of the importance of their work.”

Have you told someone in your team lately how much you value them?

5. Giving Feedback. Strong teams are defined by the amount of interaction there is between team members. When interaction is low, so is team morale. One essential type of interaction in strong teams is feedback. It can take 3 forms:
•    positive feedback given by anyone in the team to someone else when they do something that benefits the whole team
•    constructive feedback given by anyone in the team to help someone else in the team perform better
•    requested feedback from anyone in the team when they want someone to help them with their performance.
•   
When there is a constant exchange of these kinds of feedback, given skillfully without criticism and rancour, the team cannot help but grow and develop.

6. Building On Others. When management consultant Peter Honey explored the differences between teams and groups, he found that one of the key differences was that teams pick up on each others’ ideas and build, whereas groups don’t. This feature is also known as convergent listening. Team members are intently interested in what others have to say. Rather than let it go by without comment, they take something from it and develop it into something worthwhile.

7. A Friendly Climate. A friendly climate is the result of team morale. Morale is a state of mind that radiates confidence in people. It happens by itself when everyone feels sure of their place in the team. Nobody is anxious to prove themselves to anyone else. Nobody shows off. Nobody seeks to be better than anyone else.
When this happens, individual egos disappear, and team spirit emerges.

This isn’t Utopia. It’s reality in workplaces throughout the world. But it does have to be worked for and it does require commitment from everyone in the team. Whether you’re a team member or team leader, the results are worth that commitment.

Tuesday, November 4, 2014

Mismanagement At The New York Times

The New York Times Company (NYT) isn’t just reporting the news – it’s making the news. At yesterday’s annual meeting, shareholders withheld 28% of their votes for the four directors elected by holders of the company’s common stock. Nine other directors are elected by holders of the Class B shares, effectively granting control of the company to a group holding less than a 1% economic interest in the business.

Most of the large newspaper companies have not done a great job of earning the best returns for their shareholders. Some of these companies overdid acquisitions. The New York Times Company illustrates the danger of adding to the empire – you dilute the crown jewel.

In 1993, the company bought The Boston Globe. Unfortunately, this is exactly the kind of paper that will be hurt by online news sources. Second-tier major city dailies are not in a strong position, because they try to be all things to all people.

A newspaper can thrive by dominating a specific niche. That niche can be geographical or topical. Community newspapers can thrive, because they still have no real competition. The news they report is unique. It is very important to a very small group of people.

A company that owns clusters of these papers in wealthy suburbs will do fine. By reporting on local schools, sports, and events these publications set themselves apart from all other news sources. They have a mini-monopoly both on the news they provide and on the ads they run.

There are places in states like New York, New Jersey, Connecticut, and Pennsylvannia where advertisers benefit from targeting specific communities, because the demographics of the next town over are not nearly as attractive. A lot of this has to do with public schools. I don’t see that system changing anytime soon. So, I imagine these properties will fare much better than big city newspapers.

The New York Times Company has one great asset – its brand. The New York Times and The Wall Street Journal each have a very valuable national brand. People all over the country have been exposed to them through other media outlets. The value isn’t really in the size of the circulation. If you think of the entire country as their potential market, their circulations are tiny (the news business is very fragmented).

A few years ago, it would have been crazy to think of the entire country as a potential market for these publications. But, I don’t think that’s the case today. These papers could earn a lot of money online. Of course, they have to figure out how to earn money online.

Long-term, I don’t like the idea of expensive online subscriptions. It looks like a great idea now, but it could limit future ad revenue. Becoming a dominant online news destination would prove extraordinarily profitable. Unfortunately, no one is going to capture more than a tiny sliver of the online news market by charging a lot of money for their content.

It isn’t just an issue of people not wanting to pay. It’s also an issue of exclusivity. The less exclusive an online news source is the more often it will be cited. People who don’t visit your site are far less likely to reference it. Just as importantly, no writer wants to exclude any part of his own readership. So, many writers simply won’t cite a subscription service.

Some online writers do reference subscription services. Knowing how strongly people react to being excluded, I think writers who cite paid services are absolutely nuts. Even if it isn’t consciously acknowledged, readers will enjoy your site less if it points out something they can’t have.

Both The New York Times Company and Dow Jones (DJ) went the route of buying an established online destination. I’m always skeptical of these kind of me too acquisitions. These businesses did need to go online, but they needed to do it in their own way. The acquisitions will probably work out better than I thought they would. But, I still think the real value is in the brand.

Is the New York Times Company cheap? It’s close. If you agree with me about the potential for a real national news brand, the stock looks cheap. Otherwise, it looks about fairly priced.

Newspapers have been beaten down a lot recently, but they were so well-loved to begin with that they aren’t at the kind of levels that guarantee market beating returns regardless of how well they’re run. That’s happened in other businesses. You could extract more cash from a dying business than the stock was selling for. That isn’t the case here. The stock is currently priced as if it were a continuing (albeit mature) business.

If the New York Times is truly a dying business, it isn’t worth the current price. But, if there is real value in the brand, it’s a bargain right now.

I’m not confident in the decision making at this company, because I’ve seen how capital was misallocated in the past. Many of these questionable investments were small relative to the value of the core franchise. But, that doesn’t excuse the lack of focus and the lack of a true owner oriented culture.

The favorable economics inherent to the business are no excuse either. There are very profitable companies out there that aren’t nearly as profitable as they could be. For instance, Campbell Soup (CPB) consistently earns good returns on capital; but, I haven’t seen any evidence that those returns were the result of skillful capital allocation. I think much the same is true at the New York Times Company. A great franchise helps cover-up less than optimal uses of capital – and the Times’ management has benefited from inheriting a great franchise.

If I were confident about the way this company will be run and the way capital will be allocated, I’d be buying shares right now. There’s real value and real opportunity in this franchise. But, I’m not sure there’s the will to do what needs to be done.

Mastering The Difference Between Leadership And Management

It is a common belief that management and leadership are the same role. While it is common that a manager also plays the part of the leader, these two roles are truly separate in function and in the way they add to the success of an orginization. By understanding the difference between management and leadership you will become more effective in helping others see the road ahead.

To understand the difference between management and leadership, consider the construction of a new road. To build that road there are workers, machinery and tools which are all vital in the road’s construction. Managers help ensure those workers, machinery and tools work together in the most efficient way possible. A manager makes sure those workers are well-trained, motivated, rested and that they know what they’re supposed to do next. The manager does the same thing with the tools and the machinery to make sure that they’re working correctly and that the workers are able to use them efficiently and safely. This is the role of management. On the other hand, a leader makes sure that the road is going in the right direction before the construction begins. That leader also monitors conditions in new situations to ensure that the road under construction is still the correct one and is still going in the right direction.

How does this affect you as a leader? Are you spending your time managing people when you should be making sure that the road ahead is the one that you want to be on? To expect to be an effective leader you must present a clear vision and a trail you are willing to walk on first. While there are times when it is appropriate for a leader to fill a management role, it is vital to understand the difference between leadership and management so you can be effective no matter which role you happen to be filling at a given time. If you are a leader overseeing managers, it is important that you provide them with the correct perspective so they may be effective in their management role. Don’t manage the managers. Lead them.

If you are not in a formal leadership role, it is also important that you understand that when a leadership opportunity arises there is a difference between being a leader and managing the effort. Even if you end up filling both sets of shoes it’s important to understand the difference in roles in order to fill them effectively. If, on the other hand, you learn how to lead by showing people that you are walking down the right road, you will become a natural leader and will be able to help many others find success as your achieve your own.

Sunday, November 2, 2014

Managing Your Way To Personal Success With Project Management Techniques

Project management is generally thought of as a business or organisational term, and it is true to say that project management techniques are normally applied to УmajorФ projects within an organisation. For example, the installation of a new computerised accounting system would (or should) be managed as a project; the design and build of a new aircraft would be managed as a project; a major restructuring of a company or organisation should be managed as a project.

Before I had my own business, I was involved in project management in some quite different types of projects. Those experiences were invaluable, with each project being quite complex in its own right, and affecting many people in many departments and disciplines. Their daily working lives were to change; their working practices were to be changed. As well as the technical, administrative, organisational, financial and practical aspects of each project, change itself had to be managed.

One thing that is always present in any project is the personal element. The successful outcome of a project does not only depend on the planning and implementation of the project detail. It will always depend on the people affected and the people on the project team; how those two sets of people interact is also critical, and especially how the project team will deal with concerns, or even outright opposition, of the individuals, or groups of individuals, who will be directly affected by the project on completion.

From observation and experience, if the Уpeople elementФ of a project is not managed well, the project is at risk of delay or even total failure. So, the people affected do have to be embraced as an integral part of the project. For this reason, I would spend as much time, as a project leader, in dealing with the personnel to be affected by the project's implementation, as I would with team members, and technical and planning issues.

It is because of this experience that I have got used to the idea of project management, and individuals affected, being closely related. I then began to wonder whether, in a non-project situation, individuals could make use of project management techniques and principles, to manage key aspects of their personal lives.

My thoughts turned to personal success: if an ambitious person had a vision of success, could they not take that vision, treat it as a project, plan what is needed to achieve that vision, and then implement that project much the same way a company would with a project to install a new computer system? After all, a new computer system started out as a vision of someone within that company or organisation.

At the very least, some lessons from project management may be of help to an individual who has a desire to succeed, whatever that success might entail. The route to that ultimate success can be broken down into different elements, much as the installation of a new computer system can. Surely a plan to achieve success can be devised and implemented in much the same way? And then managed accordingly?

In Part 2, I will consider what lessons can be learned from project management in your own УProject SuccessФ.

Management Gurus

It highlights the sources of inspiration and guidance that are available from management and leadership gurus born in the East, who have individually and collectively made as great a contribution as the more well-known, more commercially promoted, American gurus. Many of the Western gurus have based their theories and models on the original ideas of the leading thinkers from India, China, Eastern Europe, and Central Asia. Also, as we shall see here, some of the so-called Western gurus were in fact from Central or Eastern Asia or the Pacific Basin. This article gives an insight into just a few of this influential group of original thinkers.

Mistakenly considered by many to be one of the American gurus, Ansoff was in fact born in Russia but moved to the USA with his family when he was 18. There he studied and later obtained a PhD in Mathematics, worked for the Rand Corporation and then the Lockheed Aircraft Corporation, before moving into academia in the USA and Europe. Ansoff is best known for establishing strategy as a management discipline, and for laying the foundations of modern strategic planning techniques. His approach was, in his time, criticised for being too focused on analytical and planning techniques, but is now highly regarded as appropriate for the fast-changing, complex business world of today.

Hu-Chan is an international management consultant, executive coach, speaker, and leadership development educator. Specialising in coaching in cross-cultural leadership, she has become a leader herself in the new discipline of executive coaching. Through her individual and team coaching activities, Ms Hu-Chan has influenced the strategies of major corporations and public sector bodies, in North and South America, Australia, and Asia.

Born in India, Ghoshal forged a reputation as a brilliant thinker whilst studying at MIT and Harvard, and then teaching at MIT, INSEAD, and the London Business School. In partnership with Christopher Bartlett of Harvard he first came to prominence as a leading thinker on international strategy and then developed this further to stress the importance of innovation and the empowerment of people as the key to creating a moral and value-creating organisation. Ghoshal was considered to be one of the leading thinkers in the field of how business must focus on relationship building and innovation, rather than operational efficiencies, to be successful. Revered in India, Europe, and the United States, Ghoshal played a major role in shaping the behaviour of the first tranche of today’s global companies.

His own name would not be recognised by hardly any member of the general public, his company IKEA is a name recognised by most. Kamprad is also known in the world of academia and business as having established a model for successful entrepreneurship. He took his personal values, developed from the harsh upbringing in his native Smaland in Sweden, and turned these into a set of concepts that laid down how he wanted his company to be managed and how he wanted his workers to behave. Called A Furniture Dealer’s Testament, it is a list of simple but powerful statements that can be applied to most entrepreneurial projects.

Kartajaya is the founder of Indonesia’s leading consulting firm, and past president of the World Marketing Association. His thinking on marketing management is now incorporated into most masters level marketing courses. Kartajaya has worked in writing partnership with Philip Kottler, one of the most respected marketing gurus, focusing on the application of marketing concepts and principles in the Asian markets. One of his major lines of thinking is that to stay as the market leader, the organisation must act as if it is not the leader, and must constantly challenge for the lead, even though they have temporarily technically achieved that.

Best known for his innovative work in speech recognition technology for Microsoft and establishing Google's document management and research centre in Beijing, Lee has been an influential figure in the advancement of China's position in science and technology. He has written on the benefits of combining the ancient wisdoms and culture of the East with the established management and leadership approaches of the West, and the advantages to organisations in building a culture of learning, personal empowerment and development of their people. He argues that both of these approaches will create balance in the organisation, in line with the Middle Way, one of the principles of the teachings of Confucius. Interestingly, he also talks about the importance of viewing failure as a positive learning experience, a concept that is still alien to many elements of Western society including the business world.

Also known as William Ding, Lei is the founder and head of Netease.com, the Chinese portal that focuses on on-line gaming and pc to phone messaging. Lei, still in his 30s, is one of the new wave of young Asian entrepreneurs who are leading the development of internet based businesses. His ideas on how to manage in the internet environment are fast becoming the template which most organisations in this field are adopting.

Mayo spent his early academic life in his native Australia, where he forged a reputation as a leading thinker in the areas of logic, ethics, and psychology. In his forties he moved to America where he eventually taught at Harvard as a professor of industrial research. Mayo is now acclaimed as the father of the Human Relations school of management, being the first major voice advocating a move away from the scientific management approach towards a more humanistic one. He is also credited with being the first to recognise that flexible, responsive, learning organisations were likely to be more successful in an increasingly fast-changing business world.

Morita left the security of his family’s sake business to start a small electronics company so that he could continue what had been until then his amateur enthusiast interest in electronics. He formed a company called Tokyo Tshsushin Kyogu, later to be changed to Sony. Pursuing a policy of risk, innovation, creativity, and intuition, Morita built Sony into one of the modern world’s industrial giants. It was Morita, through the success of Sony, who put Japanese innovation into the world’s consciousness. At the same time, Morita has contributed enormously to the world of management and leadership, through the lessons learned from the success of Sony.

One of Japan’s most respected management gurus, Nonaka is the Dean of the School of Knowledge Science at the Japan Advanced Institute of Science and Technology. Developing earlier thinking by Drucker and others, his ideas on knowledge-creation and innovation generating processes in organisations has helped to consolidate the establishment of Knowledge Management as our newest major management discipline. Few organisations have embraced every aspect of Nonaka’s vision, but those that have are reaping huge benefits from building the active management of knowledge into their strategies and structures.

Ohmae has pioneered modern approaches to strategic management, focusing on the role of the strategist, the three key players of organisation, customer, and competition, and how to gain strategic advantage. His background is diverse, covering gaining a PhD in Nuclear Engineering, leading the Tokyo branch of McKinsey Consulting, acting as an advisor to the Japanese Prime Minister, and being an accomplished clarinet player. Ohmae’s ideas have had a major impact on the way in which leading managers think and behave today. His emphasis on strategists needing to be intuitive, innovative, and creative are now the norm, and are required reading for managers and leaders in industry and in politics.

Taguchi’s importance is in his development of the Quality Management approach introduced into Japan by Deming and Juran, and pushing the quality control activity backwards into the supplier and design stages, so establishing one of the foundation stones of what we practice as Quality Assurance. He also proposed a more holistic approach to quality improvement, and in doing so made a major contribution to what eventually became known as Kaizen, or Continuous Improvement.

Now recognised as the source of much of today’s leadership and strategic management thinking, Sun Tzu was a military general in China at the time of Confucius. His writings, known as The Art Of War (Sun Tzu Ping Fa) are a compilation of his reflections on the strategies and leadership behaviour that underlie success in war. Translated into to relate to today’s business world, Sun Tzu’s thoughts on strategy, information and intelligence, tactics, competition and competitiveness, communication, and leadership and management, have enormous relevance and are followed by some of our most successful leaders.

There are many worthy management and leadership figures. Some are giants of business, some are academics, some come from the world of battle and war. In the West we tend to turn towards the European and North American gurus, perhaps because many of them also become expert in the art of self-promotion, perhaps because our natural tendency is to look to our own. However, there have been, are now, and will be, equally valuable contributions from other parts of the world. Here we have looked at some from the East. They are great thinkers who we can learn much from. We should not ignore them.

Saturday, October 25, 2014

Management Consultancy interviews - planning to succeed

The following article arose from discussions between Mindbench and its clients about where candidates go wrong in interviews. This prompted us to carry out a qualitative survey with clients, candidates, HR personnel and recruitment consultants involved in the management consultancy sector to establish some of the key skills and major pitfalls of ...

Recruitment is buoyant - so is the number of candidates

The current market for recruitment at management consultancies is highly bouyant Ц indeed it appears set to reach record levels this year. However the competition for these positions is still intense, with record numbers of MBAs looking for work in the sector! There are over two hundred applicants for every role in strategy consulting - the vast majority of these will be screened out at the C.V. stage and go no further Ц but if you do get through to the interview stage the following advice may prove highly valuable.


Understand whom you are applying to

A significant skill-set in consultancies of all types is research Ц and the less published information available the more important consultants become to their clients Ц and the more these skills are tested. It is very important that you donТt waste time in the interview room Ц also that you display a genuine interest in the company and itТs work Ц good research is the key! Research the company on the internet Ц not only on their own website, but follow any links they may give, search press articles, industry associations and look at their clientsТ sites. Try to fully understand what type of work they do and what is it like to work for them. Know which industries and sectors they operate in and who their major clients are. Never be afraid to pick up the telephone and ask other peopleТs opinions. Talk to anyone who has worked in the sector or ideally at that firm! Again, a good recruitment consultant should be able to put you in touch with such people.

As in life Ц it is all about selling! In this case you are there to sell yourself into the consultancy Ц make it easy for them to hire you! Show them how your qualifications, qualities and experience will match and enhance their own Ц but you can only do this successfully if you understand what they do and who for. Corporate culture has become more important in recent years and consultancies in particular have embraced this idea. Again their website should furnish you with a good overview of how they see themselves as a work-environment Ц but remember, this is how the like to see themselves. Speaking with a current or former employee will give you a better insight.

The ideal candidate

First of all we discussed the key characteristics that a candidate should possess and - crucially - be able to demonstrate during the interview process:
Ð¥ Strategic thinking - is this candidate able to think in terms of strategic direction?
Ð¥ Analytical rigour - does this candidate think in a logical, methodical way?
Х Mathematical ability Ц does the candidate have the mathematical aptitude to cope with financial modelling, understanding of statistical analysis, corporate financial reporting etc
Ð¥ Commercial awareness - is this candidate able to think in terms of pricing, competitive environment etc?
Ð¥ Intellectual curiosity - is this candidate sufficiently curious to go beyond the surface and seek out the detail and underlying reasons?
In addition to identifying these specific qualities a number of less tangible facets were mooted. These are traits that a consultancy would ideally like all itТs consultants to have, but are rather more difficult to identify or display:
Х Drive Ц has the candidate demonstrated the necessary levels of drive and ambition so far in their career?
Х Focus Ц can the candidate demonstrate the ability to ignore distractions and follow the main thrust of a project?
Х Ability to manage people Ц has the candidate shown a willingness/ability to manage others, in any environment? This can be managing down (staff, subordinates), managing colleagues or managing upwards
Х Commitment Ц is there a willingness to work long hours and under pressure
Х And finally, УDepth of characterФ Ц this last trait proved the most difficult to define. The following quotes from Consultancy Recruitment Heads were inciteful in summarising their views:
УAs long as the candidate is reasonably intelligent and willing to work hard we have in place training plans and mentoring systems that will enable us to pass on all the skills our consultants need to fulfil their roles Ц the one thing that you cannot teach is character... and itТs probably the most valuable trait of all!Ф
УHow do you recognise it in interviews? We look at the prepared responses that candidates give to the more predictable questions, and we also try to ask them some questions they wonТt be prepared for! But ultimately - you know it when you see it!


Successful interviewing

It is in the consultanciesТ interests to allow you an opportunity to sell yourself to them. They want you to be able to demonstrate your qualifications, your abilities, your enthusiasm and Ц to some extent Ц your personality!
You need to be able to do this effectively and efficiently Ц so BE PREPARED!
Preparation will allow you to speak fluently about whichever facet you are called upon to discuss Ц as well as talking about yourself and your achievements in a structured and logical manner. These are all highly attractive abilities in a consultant!
The best way to prepare for this is PRACTICE!
Ð¥ Think about the questions you are likely to be asked
Ð¥ Search on the internet and in libraries for further examples
Ð¥ Talk to the recruitment consultant or the interview co-ordinator
Work out some answers to these questions that allow you to show your best qualities and highlight your achievements.
We would also highly recommend that you practice answering these questions out loud. Find some friends or colleagues and arrange to spend some time asking each other interview-style questions and listening to responses. Discuss your own and others performance Ц there is no substitute for СperformingТ in front of other people!
The ultimate goal in these situations is a difficult balance to achieve:

 Ð£Be prepared - sound spontaneous!Ф

Thursday, October 23, 2014

Management Basics. Enjoy the Perks !!

"Management" is an umbrella that covers a host of activities: leadership, working through others, planning, organizing, communicating, controlling, and making decisions, to name a few. How can you grasp all of these things? Fortunately, you don't have to.


     The basis of effective management tactics activity is to keep control of a situation without enough information, assets, or power to justify that control. That, as it happens, is also the essence of management.

     In some ways management needs no introduction. Most of us do it one way or another every day—in families, social groups, clubs, and businesses. Management is universal; it exists whenever two or more people try to do something together. You may not notice this, however, because only mismanagement makes headlines. Planes arrive late, companies go bankrupt, orders are lost, and the Pentagon pays defense contractors several hundred dollars for parts that cost a few bucks Wal-Mart because management has somehow failed.

    People become managers by several routes. Those who work for family-owned firms inherit the job. Others may have worked their way up the organization or married the boss's son or daughter. Be especially suspicious of people who declare that they're "born managers," however. They can be identified by their total ignorance of management and their supreme confidence that their every decision is right. But how can you masquerade as a real manager? Very easily, as it often turns out. Few managers really take the time to clarify or analyze their objectives, actions, and motives for what they do. If you, on the other hand, spend even a fragment of your work day thinking about what you're actually doing, you can rise above the rest of the pack. Especially if you maintain steady eye contact, dress neatly, and act sincere. In the words of George Burns, "Sincerity is everything. If you can fake that, you've got it made."


 MANAGEMENT ACTIVITIES

   Managers perform many activities. It's important for you to understand what each one involves so you can set goals, assign tasks, and delegate the authority to get them done right.

   The major areas of a business include purchasing, production, sales, and finance. Service and retail businesses, which make no tangible product, still have a core of similar areas (minus production) that are vital to success. In fact, lots of people—especially those who sell insurance-now call services "products" to make them sound less vague and intangible. Bluffers have to understand the role of several key management activities that will help them deal with the major areas of a business successfully.

Decision Making

   One of the problems with being a manager is that you have to make decisions from time to time. This can be very troublesome, because decisions can blow up in your face. But do you really have to decide? Sometimes not. If you want to sidestep a decision without looking indecisive, you can often fall back on philosophical quotations such as "Sometimes the best decision is no decision" and "If it works, don't fix it."

   In any event, don't be intimidated into making a decision until you've analyzed the problem thoroughly.
Most panic decisions deal with symptoms of the problem and overlook the problem itself. If your car has a flat tire tomorrow morning, you could pump it up, but a block or two down the road it'll probably be flat again. You mistakenly treated the symptom (lack of air), when the actual problem (a hole) went unsolved. Adroit bluffers also tend to let subordinates participate in making decisions. Go down to where the problem is and ask your workers, "What do you think is wrong?" Often, after they've recovered from the shock of being treated like people instead of robots, they'll tell you exactly what's wrong because they knew it all along. It's just that you're the first boss who ever bothered to ask. Follow up the previous question with "What do you think we should do about it?" This may produce several solutions that are worth their weight in gold. The end result is that you've shifted the burden of defining problems and solving them from yourself to everybody in your work group. And, if the decision backfires, it'll be more comforting to be able to stand up and say, "Well, we thought.. ." than to have to take all the blame yourself.

Delegating

   You should be quick to delegate authority for routine decisions to subordinates. Delegation makes you look very professional. It also saves you time because you have to wrestle with only unusual, off-the-wall problems.

    And how should you deal with those? Maybe the best thing to do is fall back on the suggestion offered a moment ago: call your subordinates together and have them propose what you should do. Emphasize, of course, that you're not relinquishing your authority. You're merely being a democratic leader who believes in lots of employee involvement. It won't hurt to point out that the Japanese make decisions by consensus and participation, and you're simply adopting a tried-and-true technique. It's tough for anybody to dispute the success of the Japanese in the automobile industries these days especially in comparison to the former market leaders – the big 3 American car companies especially General Motors (GM) .

Communicating

    It's been argued that communication is one of the most valuable tricks of the management trade. Getting a simple message across the way you intended can be harder than it seems. People define words differently, have conflicting sets of priorities, and harbor hidden agendas that conspire to make communicating difficult.
    One good rule of thumb is to follow the KISS technique-Keep It Simple, Stupid. Another guideline is to reject meaningless jargon. Because people write and speak to impress as well as to inform, they sometimes feel compelled to make memos and reports sound "businesslike" or profound. The result can be a pompous, indecipherable mess. If you believe you're the target of a verbal snow job from subordinates, assert yourself by sending back a memo or report to be rewritten. This puts people on notice that you're a no-nonsense, hard-headed manager who tells it like it is and expects others to do the same.

Accounting

   Accounting is a fairly simple process. It's mostly a blend of basic math and common sense. The information, however, is often susceptible to manipulation and several interpretations. You can take the advice of former U.S. Supreme Court Justice Robert H. Jackson, who said, "Success depends on knowing what not to believe in accounting."

   The term "creative accounting" is a euphemism for doctoring the books to make a company look better than it is, while "conservative accounting" makes a company look mediocre or worse. Most corporations prefer to look like heroes to stockholders and bag ladies to the IRS.

   As an effective manager you may encounter a mass of incomprehensible figures can cover their confusion with such phrases as: Do you really believe this bottom line is realistic? Have you checked for a recent FASB (Financial Accounting Standards Board) ruling on this? How much could this change between now and the end of the quarter? And Are you sure overhead has been allocated properly? Perhaps the best comment of all, however, is "You'll have to simplify this so the board of directors will understand it." That probably means that you'll be able to understand it too.

   It's important to consider the impact of the notes at the end of accounting reports, because these can reveal situations or conditions that figures tend to hide. For example, one company discreetly admitted that it was so strapped for cash that it had borrowed on the cash surrender value of its president's life insurance policy. Another's report celebrated a rise in its stock price, but the cause was the death of its founder and president

   He was an autocratic octogenarian well past his prime, and investors apparently believed the business was better off without him. Notes may reveal what the figures conceal. Catchy slogan, isn't it?

   Decision making , delegating , communicating as well as a simper understanding of basic accounting concepts that hold you steadfast in the turmoil of the management quagmire especially when you realize that most of your peers are incompetent .
 In most cases they were promoted either for personal or family reasons or as a reward for some behavior or achievement that has little to do with the task at hand

  All in all the selection process may have been totally at odds with the long term health and profitability of the firm or organization

  A management career offers many benefits , Most of your collegues in the field are idiots .Enjoy the “ perks” of management

Thursday, October 9, 2014

Know When To Get Help - Performance Management Consulting

Most people dread performance appraisals because it is tiring and tedious, and people believe their jobs may be on the line. Of course, performance appraisals are really quite useful because management can fully make sense out of the things that have been happening in the company. Through a yearly performance appraisal of employees, companies can finally be able to find out about the reasons behind why the company is losing money here or there.

1. Perform Appraisals In A Serious And Scientific Manner

As the part of the management that ultimately runs the company, the superiors who are actually doing all that performance appraisals year after year, they should really take this task seriously so that that the company will be able to greatly benefit from the yearly performance appraisals of the employees. In case the people who are going to head these yearly employee performance appraisals are actually clueless on what they should really do, they actually have the option to get some performance management consulting so that they will able to know what people from the management like them should really do when its time to once again make those employee performance appraisals.

Employee performance appraisal may seem to be a scary and highly difficult task but through good performance management consulting, you are sure to be able to get the ideas as well as the strategies that other companies are doing with the aid of performance management consulting. When it comes to performance management consulting, experts in the field of business management will actually instruct company heads that before they actually go on to their employees' performance appraisal meetings. Whether they will give out a presentation to other company heads or just be talking to the employees, performance management consulting will actually advice the management to actually make a draft of what they are going to report first before actually going out to the meeting and fumbling on the employee appraisal meeting.

2. Appraisals Should Focus On Positive, Not Negative Aspects

When it comes to performance management consulting, it is highly recommended that you plan everything out from the beginning so that the whole process of the yearly employee performance appraisal will go on smoothly and without any hitch. The performance management consulting activity should be able to help out the company's management to actually be able to produce clear and concise ways for them to make their thoughts be fully understood throughout the performance appraisal report. Performance planning is definitely the key to a well-executed performance appraisal meeting according to the performance management consulting.

- Heed the advice of the performance management consulting group
- Decide on the important factors
- Tackle those factors

3. It Works!

According to the research from the performance management consulting, top companies today are using the performance management process to eliminate a best-effort directed culture in the company, instead the company should move on towards a results-driven culture instead, the next is to be able to establish as well as reinforce the extreme importance of the company's core competencies and lastly, the company should also be able to target the poor performers in the company for termination.

Based on this research from the performance management consulting, the management should be able to target he poor performers in their company by actively weeding out the bottom 10 percent of the pack while completely nurturing the upper 20 percent of the company's employees to be able to sustain their dedication and good work for the company. It is extremely important that the company is able to full acknowledge the presence of such beings in there company so as to be able to further motivate them into doing good for the companywhile the bottom feeders need not be kept in the company anymore since they are hired to do their best and not to actually become a liability to the company.

Tuesday, October 7, 2014

Key Measures of Success for System Implementation Project Management

Have you ever wanted a short list of of items to keep "in check" as you are managing projects? This short list would contain key measures which, if always kept in check and balance, would lead you to project success? Sure it is important to follow industry project guidelines from the Project Management Institute and within the Project Management Professional (PMP) Certification, but it is important to always keep these key measures at the forefront of my mind ALL THE WAY through the project - from beginning to completion. Sometimes these factors can be overlooked or forgotten, or thought of as "not needed" in the rush to get a project underway. Stand Up and stop the madness, make sure you have a clear path before trying to get to your destination.... Or you will get lost along the way.

Key Measures:
1.    Before even looking at business requirements or spending much time on a project, make sure you know:
        a.    Who the executive sponsor is and obtain the following information directly from that sponsor:
              i.    Project intentions and scope
              ii.    What the project is NOT or what is out of scope
              iii.    Who the “Customers” are for the project. (many times, customers are internal to the organization)
              iv.    If a Return on Investment document has been created and what is expected of a ROI document. What areas of the business are returns expected?
              v.    Project Budget and how expenditures are approved
              vi.    Expected Project Success Factors
              vii.    That they want this project moving forward at the present time, if not, when is it to start
              viii.    Timeline expected for project completion
              ix.    Agreement to put companies resources on the project to get it done
              x.    Required project status and reporting
              xi.    Agreement on a communication plan to sponsors, customers and other impacted parties
              xii.    Agreement as to the assigned project manager and support from the sponsor that if there are problems with the project that require the executive sponsors attention, that the sponsor will extend support for obtaining the resolution
        b.    Then put all of that information in writing, generally in some sort of project initiation document and then all project leaders, sponsors and customers and CIO SIGN the document. I cannot stress
how important this part is. I cannot stress how many times we have come the end of a project and at least one of these parties (sponsors, customers or CIO) state they never agreed to some portion of the documented information in the project initiation document. This is especially important for System Implementation projects as a lot of time can pass between the time the project got underway and the time the final product is delivered.

2.    Business Requirements
        a.    It is vitally important, before talking with any IT personnel (if the project involves internal IT – which, if it is system implementation, it most likely will) or product vendors, that you take the time needed to adequately document all business requirements from all customers. Documenting business requirements should, at a minimum, involve going through the following steps:
             i.    Identifying the subject matter experts and project representatives from each part of the business that serve as your customers for the end result of the project.
                   1.    Identify the current problem or need
                   2.    Document current processes
                   3.    Discuss what is not working about the process
                   4.    Review results they would like to see to support the business and analysis they need to perform to manage the business
             ii.    In business requirements documentation, DO NOT spend time discussing what systems or technology will allow them do. Discuss what is needed for the business. Do not let your customers try to define a process around systems or technology. Technology is there to support the business, not to dictate how a business should be run. Don’t worry, All the technical pieces will come together later.
             iii.    Document all the business requirements as discussed with all customer groups and subject matter experts. Be sure you specify the problems and needs, how it is hurting the business, what is needed, and how that will help the business. Be specific. This information will help you put together the ROI document to be sure the cost and expected benefits are in line with what the project sponsor(s) is expecting. Some project managers might disagree here and state that the ROI should be done before getting to the business requirements stage. However, I have always found new areas of investment (cost) and return on that investment present themselves when going through the business requirements discovery process.
             iv.    Always be sure to think about how a product will be used and how reporting will be required. This can really get you in the end if you don’t pay close attention up-front during the requirements phase.
             v.    You will then match the business requirements to the scope that you created in the project initiation document, or change the scope, which would require an amendment to the project initiation document requiring new signatures.
             vi.    Once the right set of requirements is documented and it lines up with project scope, then be sure to again have project sponsors, customers (remember, customers can be internal or external), and CIO acknowledging these are the business requirements, that the project is active and sponsored, and that they are in agreement with moving forward to the next project phases. This piece is especially important, as people tend to forget or say things like “I never said that” as you get further along in the project. You can always bring them back to the initial documentation and signatures.
If you do not get signatures, you are a sitting duck.

3.    Now it’s time to figure out how you are going to deliver on these business requirements. This usually leads to a buy or build decision. That is, buy software from a vendor that specializes in the type of product needed, or build with internal IT personnel. The business requirements document is your basis for evaluating the buy or build decision. Do not stray; do not extend scope or budget, without going back through the sign-off process. If you are “buying” a product from a vendor, do the initial “paring down” process of determining top software products which match the business requirements.

4.    Now that you have your top list of software contenders, have demonstrations performed by the vendors for your customer group(s). They can help cast the vote for the selected product. It is critical to get buy-in from your customers every step of the way.

5.    If possible, it is a good idea to perform a trial phase with 2 top vendors to see how the business requirements match up to the product.

6.    After the trial phase, get back with your customers to demonstrate the products against the business requirements. Then have your customers make their final selection. At that point, be sure a technical specifications document is written that matches up against the business requirements. The purpose of the technical specification document is to demonstrate within the product, how business requirements will be met, what business requirements cannot be met or can only be met partially, and the IT requirements for the product. Be sure that, before beginning a major development phase, that you have gone back to your sponsors, customers and CIO or other representative IT parties for agreement on the specifications and agreement for moving forward. This phase will also require an updated project schedule outlining the full development schedule, resource requirements, and commitment from involved parties.

7.    Be sure to do a “pulse check” with your customers and sponsors at many points throughout the development cycle. This will ensure your customers are not surprised by the end result or that you haven’t gone completely down a path that they did not want or that you developed something incorrectly. It is much better to catch these things while development is still going on – your time-line will probably be impacted much less this way AND the perception of project success by customers and sponsors will be much higher this way. Ultimately, it is best not to have any such “hang-ups” during the development process. But, it is probably not realistic to expect that you won’t have any. That’s the job of the project manager – to work through such issues and still complete the project on time.

8.    When the development phase is complete, it is important that you have documented not only how to use the product, but how it impacts that business processes. It will require discussion with customer group representatives about what the system will now do, and what the new process should look like. It is important to have this document and be in agreement with customer group representatives BEFORE any product rollout occurs. If you do this, you can expect a much smoother training and rollout phase of the product than if you just try to throw the product out there. If you do not have a carefully planned training and rollout phase, all your work will go down the drain, and the project will most likely not be perceived as a great success.

9.    During the rollout and training phase, it is extremely important to communicate what the users need to do if they need help with the product. What support for the product is available? A good project manager will already have this in place and be ready to put the support process into motion during the rollout and training phase. It is also important that you obtain agreement from the customer groups on the support process and that they think it will work for their group.

10.    Lastly, be sure to follow-up with customer groups ensuring things are running smoothly and to see what problems or issues need to be corrected. Keep doing so until your customers are happy with the product. 

Remember, there are no levels of success. Either it was a great success, or it wasn’t.

Saturday, October 4, 2014

Is Excel Running Your Business?

Is Excel Running Your Business? A Transition to Project Management Software is Worth the Investment.
Businesses small and large have been using MS Excel for years to run processes and manage projects. For small, simple projects Excel is a useful organizational tool. However, projects have a tendency to grow in complexity at a rate that Excel can not keep up with.

Imagine that a business needs to track projects or processes and does not have the time or budget to put a sophisticated tracking system in place. An IT department does not exist or is busy handling other affairs. Excel often seems to be the obvious, quickest and easiest resource to get things started.

Skip ahead a few months or a year later and those same Excel spreadsheets have now become a burden to the company. Many different versions are being passed around. No one knows who has the most up-to-date files saved on their computer. The project has evolved, making the spreadsheets so complex that only one person understands how to update them or even interpret them, in some cases.

It is now nearly impossible to generate reports from the spreadsheets or track progress and historical data. The data is also not searchable since Excel does not function as a database. The list goes on and on with all the limitations.

It is very understandable why business professionals turn to Excel to run critical processes: most already own a license on their desktop and are familiar with enough to quickly get the project started. They can even bypass IT altogether and maintain the Excel files themselves. The problem is Excel was never intended to be used as project management tool. It is no surprise that collaborating via spreadsheets becomes unbearable rather quickly as projects and processes grow in complexity.

Project Management software solutions such as <i>Interneer Intellect provide business professionals with the same benefits they seek with Excel - ease of use, quick setup, ease of maintenance without IT - all with the full benefits and robustness of a database system, that is collaborative, web-based, multi-user and enterprise level. These systems even incorporated many other features that make it easier for the business users to manage documents, projects and process workflows.

Excel is best for what it was designed to do - accounting and financial calculations. Stop running your businesses on a thread and read white papers and view demos of project management software system. Web-based systems like Interneer Intellect allow for real-time collaboration between team members anywhere. The time saved using project management software will provide ROI.

Thursday, October 2, 2014

Information Lifecycle Management: Mastering Complexity

The keystone to efficient information and repositing direction lies with a simple principle: information has a lifecycle and it should only be stored as long as compulsory by stage business and regulatory requirements. Nevertheless, the traditional methods of giving medication do not suffice for the complex relationships among structured and unstructured.

New generations of solutions ar evolving to meet byplay leaders' inevitably piece reducing in operation(p) peril, meeting regulatory submission, and improving system handiness. Withal, like every quantum change with strategic and operating(a) , reality is not keeping pace with the expectations of individuals and organizations that demand a quick, yet simple, solution to a very complex and growing problem.

To further complicate matters, new terminology is being introduced, additional skill sets mandatory, products immature, and the financial impact of effectuation is empirically only just being understood with the first generation of products. This ambiguity has a electric potential to derail a robust framework that has the ability to deliver on historically unmet necessarily needed for our ever-expanding, informationdependent industries.

Continued from page 1. First, a current service line mustiness be conducted. This should articulate and quantify the existent technologies, procedures and policies already adopted by the company. The also moldiness classify available personnel skill sets, organizational maturity, and functional windows needed to satisfy the SLAs.

With the foundation in place, known issues, risks and current initiatives be classified and ranked by significance. Secondly, the future state or "to-be" model be created. Clear benefits driven by the occupation drivers and corporate agendas (i.e., alignment) be amalgamated to create a cohesive framework that meets the organizational goals and objectives. With the "to-be" model defined and approved, a fit-gap analysis tin can be done that articulates the problem areas, opportunities and architectonic strengths.

After creating a program of work, a high-level design of the product and services should be developed. This design volition highlight the estimated benefits, potential difference vendors, proposed execution scenarios and sequence of activities that testament result in a working set of pilots. With the selection of headstone vendors, buffer projects toilet be undertaken. These cowcatcher projects wish provide the confirmation for the benefits, risks and approach needed for further investment.

Once completed, the results bequeath be a "go/no-go" decision point for the organization, and additional commitment and investments for ILM realization. Adjustments also leave be made from the pilot burner project's outcome to the plan, resources and budgets. With the pilot light projects and customizations completed, a rollout plan for the tested environment be undertaken. Only segments mature in their lifecycle be considered.

Proper training and education be conducted. A refresh approach to integrate future segments be defined and intermingled into the PMO, methods, and architecture. By its very nature, ILM is not static. It is a layered and mixed series of product, processes and reposition automation that lavatory result in drastically improved information accessibility, usage and bottom-line results. Many companies today unwittingly practicing ILM--using inefficient, manual processes contained within vendor-specific platforms resulting in a high TCO. A viable solution for organizational profitability, cost containment and risk of infection mitigation is contained within the ILM architecture.

Over the next two to three years, the robustness of the products rapidly advance in support of the architecture allowing for significant improvements in warehousing innovation, productivity gains (due to automated rules and policies) and conformity disposal. While caveats to ILM exist, the job drivers for its integration and carrying out cannot be ignored. Organizations seeking to deploy these enterprise-based solutions consider that the potential drop currently outweighs a vendor's ability to make it a reality in the short term. Still, the enterprise identify the critical requirements and embrace the winder strategies spell the market is maturing.

Identifying and embracing the vital requirements and strategies take time and executive commitment, which is usually greater than the time needful for delivery.

The offerings deployed today significantly mature in 2004/2005 as they assimilated into common applications, databases, middleware, and memory . ILM is not just about computer memory , it is about proper alignment with line of work of necessity to effectively ensure the capture, categorization, integration and disposal of . The tonality to the information "hydra" lies with in effective, qualitative and quantitative hazard governance coupled with a clear understanding of the interrelationships between project efforts.

Without an active ILM approach aligned to the organizational culture, the measured value (real or perceived) of technology investments continue to be disappointing patch exposing the organization to increased litigation and scrutiny.

Monday, September 22, 2014

Improving Management of Your Business

All companies have business processes that can be improved. Most companies can benefit from automation or further automation of solutions.

Improving Management of Your Business

Improving business processes is all about a work flow plan, often graphic, and implementation of automating and organizing work processes. It is also a way of defining software architectures and applications. Business process solutions help an enterprise monitor human and automated processes. It can also serve as an enterprise application integration (EAI) tool. Business process management solutions help you identify areas of your business that can be automated and used to apply business rules and guidelines. In practical terms, it acts like a virtual machine that executes process models rather than software code.

Business process solutions take business data and determine how the information is used to perform a task. By creating an overview, a business manager can plan and improve an existing business process. Some solutions also send data through a test set of tasks to ensure that a business process is being followed. These solutions permit a business manager to visually describe, control and trail the flow of a work process. Process solutions generally involve computer systems and software to automate a process.

Technologies used to implement process management solutions include work flow charts, BP-XML languages, ERP (Enterprise Resource Management), software development and EAI (Enterprise Application Integration). ERP is a set of applications that can cover financials, manufacturing, human resources and back-office business administration utilities of an enterprise. It is a business management system that integrates all components of the business as well as planning. On the other hand, EAI software operates as a center that interprets data and messages between different applications.

Improving and automating business processes is the path to gaining huge productivity. These management solutions monitor business presentation by defining a series of tasks that must be performed to attain a defined strategic goal. There are three obligatory requirements - flexibility, reliability and security.

A good solution must help in continuous process enhancement, but managing the huge amount of these processes becomes more and more difficult as organizations become highly complex. Process management solutions give you the capability to satisfy and retain your customers and also maximize your joint venture returns with other businesses.

Remember that business processes define your business, and they can also present your organization with a competitive benefit. If you can make your processes efficient, you will reap better customer relations and profits.

Wednesday, September 17, 2014

Human-Based Workflows and Project Management Software

Workflows exist in some form at every company, in every industry. Traditionally, the term has been used to describe transactional processes. Credit card information, for example, is submitted on a website. The information is then sent to banks for approval and to a billing system for invoicing, which results in a message being sent to the shipping system for delivery. These types of transaction workflows, primarily relaying data between systems based on a static set of rules, require very little human intervention. They are typically automated using business process management (BPM) software or custom coded applications.

Human-based workflows on the other hand are usually manually managed and tracked. Meetings, phone calls, paper trails, spreadsheets, emails and desktop applications are typically utilized by business professionals as a means to keep the flow of information orderly. In most cases, a lack of efficiency is unavoidable. Using many different tools and methods to track workflows simultaneously leads to chaos. Visibility of a project’s status, and more importantly, what is causing its hindrance becomes increasingly ambiguous.

Many human-based business workflows involve intellectual property or process innovations that give companies an edge over competitors. In a small vertical industry successfully managing workflows can make or break a company. Because of the diversity of workflows and the ways in which they are managed, it is difficult to find off-the-shelf project management software that is flexible enough to adapt to any company’s set of unique workflows and management style. For this reason, many companies feel trapped, worried that the only option is to develop a custom solution. Developing custom project management software, however, is a costly and lengthy process.

Only Interneer Intellect solves this problem, through catering to the human-based business workflow market. It enables the business user to capture workflows using simple drag-and-drop capabilities. It also incorporates many features that automate and streamline the business process: it is web-based, facilitating real-time collaboration; automatically creates databases; automates workflows; and allows easy reporting, document management and project tracking with multi-user support.

As project management technology evolves, the benefits of automating workflows to gain efficiency, visibility and cut costs becomes increasingly apparent. With the advent of tools like Interneer Intellect this can be accomplished rapidly, easily and inexpensively.

Tuesday, September 16, 2014

How Does Human Resource Management in the Workspace Effect Me?

How often do you find yourself saying: "I wish I knew how to learn more about this topic"

Well, we were listening! And this article is the result.

Today human resources management is opening up new horizons in many different offices around not only the United States, but the world. The reason for this is simply supply and demand. More savvy business owners –even of smaller companies, have understood the value of hiring professionals with experience working in HR. By doing so, and having HR representatives, companies have learned the importance of solid communication with their workforce

The fact is that Human Resource Management exists just for this purpose –to bridge the gap between staff and upper management. In doing so, compromises have been attained which preclude the need for unions or outside arbitration, and thus provide the services that employees feel is their right to have

A company which is not so progressive, on the other hand, neglects HR and the philosophy that goes with it. The result is, employees abandon any thought of fidelity towards their employer in favor of businesses that reward their service in greater ways. Examples of this begin at the most basic level of appreciation. Certificates of recognition awarded on a monthly, bi-yearly, or even yearly basis, for instance, are all that many employees wish.

Now, pay close attention. What you're about to read will help you save hours of frustrating, wasted hunting, and let you hone in on some of the best material on this subject!

Of course, on a more pecuniary basis, more constant raises –whether structured and awarded based on time and/or merit, are always welcomed. Likewise, health benefits are probably the second most important factor, besides these well-earned raises. The HR department is very often responsible for such aspects in the workspace.

Yet, this is only the tip of the iceberg. Surely, the aforementioned has been a part of the American workspace for decades. What staff in HR try to instill are programs and emotional support that make employees feel a part of a winning, caring team –even a family.

This has been actualized by programs such as after-work softball and bowling leagues, on-site day care, free fitness memberships, and even after hours bar hopping and social events with the office staff and the boss. At work, people in HR have implemented office parties where before there were none, office pools, after-hour bingo (for charity or just for fun), and other such activities that create a cohesion within a workforce that makes it extremely difficult for an employee to ever consider leaving. It is just this feeling that managers and owners are looking for and why HR is so important.

This field is open to able-minded people of numerous backgrounds. There is training and certification which is available either in the office or at a local college. A fast growing field, the opportunities are currently expanding rapidly. Not only do people working in Human Resources enrich others, but they also benefit their own well-being in knowing that their job truly makes a difference in others' lives.

So, what did you think about this article? Please drop us a quick note to share your thoughts and comments on it.

For further information, be sure to check out the numerous resources available online on this topic.

Friday, September 12, 2014

Guide to Project Management

A project is an assignment or task taken up to achieve a specific goal. The development and introduction of new services or of a management information system are instances of a project. A project is different from the continuous or day-to-day processes of a company. It is confined within cost, time, and quality constraints. As a consequence to it a special team of expertise is appointed to manage a project.

Project management as the name suggests is all about nurturing or handling a project. This is done with the aid of requisite knowledge about the project, skills and techniques to complete the project within fixed tenure and resources. Project management involves step-by-step procedure along with a prudent approach towards the project.

At first the concerned organization prepares an outline of the project. This includes knowing and writing down what the project is all about, the cost involved in the project, the amount of resources needed. A thought is also given to the tentatively earliest possible time within which the project can be completed. Once the budget and other nitty-gritty’s about the project are known the organization looks for sponsors and a project manager. If the individual sponsoring the project is skilled and efficient enough, he too can be its manager.

The project manager then appoints a team of people to work under him. Together with the team the manager of the project prepares a project plan. This plan is not just about the cost and time factors but also regarding the manner in which the project is to be initiated and covered up later. This requires lot of discussions and settlements between the project manager and the team of employees.

The implementation stage of a project is where the project is put to execution as decided. While executing a project its progress and managing changes need to be carefully monitored. At this point in order to harness the resources well the project manager might feel the need to expand his team. For instance marketing of the product may be suffering due to more heed being paid to its manufacturing or due to lack of good marketing executives. This may also involve contacting new companies and organizations. Thus a set of people needs to be readily appointed to take charge of this. However then it is always at the onus of the manager to equip the new members with a proper and complete knowledge of the project. In some cases training may also be imparted.

After all these stages are over, the project comes at its stage of completion. This is known as the close down stage. Here the project manager safely handles the completed work in the hand of the client or the customer. Once a project is finished and handed over, a project review meeting should be held to study the work done, encourage if something good was discovered during the project and also learn from the mistakes made. These should also be documented and later published in warts and all. This acts as a great help in future assignments.

Free Time Management Software: How Can You Benefit From It?

Today, there is a wonderful opportunity to get your business or personal life in order using free time management software. Searching the Internet today yields several different varieties of free time management software. Using free time management software you can schedule important events, manage key projects, and alert yourself through reminder messages when deadlines are coming up for completing tasks. It is a good idea to use some type of tool or process for managing time, and using free time management software can be an easy and convenient way to balance your priorities.

Free Time Management Software And Your Phone

There may be free time management software available for your cellular phone. By downloading and making use of this, you can bring your daily tasks with you no matter where you go. You benefit from this be being reminded of your remaining tasks for the day and having the ability to add new tasks to your schedule as you move about – no more forgetting update your calendar when you get back to your office. Portable tools such a cell phones with free time management software will help you keep on task all day long and will result in higher productivity.

Other benefits of free time management software are the ability to identify scheduling conflicts, and helping to organize and prioritize tasks when you see that there are too many items to be completed in a single day. Free time management software can also help to identify parts of your day where time may be wasted, showing time that could have been used for goal-centered activities, but was not. Future similar times can be filled with planned tasks that could not be accomplished before, perhaps freeing night-time up that was being used for playing catch-up so you can spend it as you see fit – slowing down to watch a sunset, or getting up to watch the sunrise can be done without feeling guilty for wasting time because everything else is taken care of.

Things To Remember When Selecting Free Time Management Software

Today, you can find almost anything available for free on the Internet. Free Time Management Software is available in the form of online-base tools. Many of these tools offer persuasive benefits, but you should be aware that web-based services could sometime become temporarily or permanently unavailable. This could result in partial or total loss of your valuable information. If you plan on using an online form of free time management software, you should take care to keep a backup of you information to protect yourself.

Wednesday, September 10, 2014

Free Time Management Software

Today, there is a wonderful opportunity to get your business or personal life in order using free time management software. Searching the Internet today yields several different varieties of free time management software. Using free time management software you can schedule important events, manage key projects, and alert yourself through reminder messages when deadlines are coming up for completing tasks. It is a good idea to use some type of tool or process for managing time, and using free time management software can be an easy and convenient way to balance your priorities.

Free Time Management Software And Your Phone

There may be free time management software available for your cellular phone. By downloading and making use of this, you can bring your daily tasks with you no matter where you go. You benefit from this be being reminded of your remaining tasks for the day and having the ability to add new tasks to your schedule as you move about – no more forgetting update your calendar when you get back to your office. Portable tools such a cell phones with free time management software will help you keep on task all day long and will result in higher productivity.

Other benefits of free time management software are the ability to identify scheduling conflicts, and helping to organize and prioritize tasks when you see that there are too many items to be completed in a single day. Free time management software can also help to identify parts of your day where time may be wasted, showing time that could have been used for goal-centered activities, but was not. Future similar times can be filled with planned tasks that could not be accomplished before, perhaps freeing night-time up that was being used for playing catch-up so you can spend it as you see fit – slowing down to watch a sunset, or getting up to watch the sunrise can be done without feeling guilty for wasting time because everything else is taken care of.

Things To Remember When Selecting Free Time Management Software

Today, you can find almost anything available for free on the Internet. Free Time Management Software is available in the form of online-base tools. Many of these tools offer persuasive benefits, but you should be aware that web-based services could sometime become temporarily or permanently unavailable. This could result in partial or total loss of your valuable information. If you plan on using an online form of free time management software, you should take care to keep a backup of you information to protect yourself.

Fixed Versus Flexible Working Hours in Workforce Management

Flexible working hours have been found to lead to a happier workforce, and to far better customer service and share valuations. However, there is a fear that implementing flexible working hours is complicated and that it could lead to a flood of impossible demands from employees.

Before we look at flexible working hours in more detail, let us take a brief look at the standard working hours.

Working Hours for Employees

Working hours for employees have changed dramatically over the last two centuries. Back in the nineteenth century when industrialization started in Europe, workers were compelled to work even 16 hours a day. In twenty-first century France, however, the government had fixed working hours at 35 hours a week.

Most industrialized countries have regulated the workweek by stipulating the maximum number of working hours per week, minimum daily rest periods, annual holidays and sickness pay. The standard is around 40 working hours per workweek, typically Monday through Friday. Paid vacations range from three to five weeks a year.

Long working hours can lead to stress-related health problems, less time for busy parents to attend to child-rearing, and less leisure to enjoy consumer products and services. Henry Ford introduced low working hours so that his employees would have the leisure to buy and enjoy the cars he produced.

Flexible Working Hours and its Impact

One major problem with fixed working hours is that employees find it difficult to balance the demands of their personal lives and work lives. Flexible working hours can lead to better work/life balance and result in a happier workforce.

Flexible working hours can come in different forms such as:

Part-time working that enables an employee to be free during business hours to attend to personal matters. For employers, it could mean engaging employees during peak workload hours, and reducing overall payroll costs
Flexi-time working where employees work extra time when needed by employers and bank the extra hours/days off for arranging their personal commitments
Annualized hours is an arrangement where times worked and times off are balanced across the year as a whole. Extra hours are worked during peak business seasons and less during lean seasons. Employers can retain experienced employees instead of hiring inexperienced casual or contract staff
Customized flexible working hours during special events to enable employees watch, say, world cup matches and yet meet their work time requirements


Studies have indicated that flexible working hours produce tangible benefits to employers in the forms of:

Reduced absenteeism and employee turnover
Lower recruitment costs as they can retain their existing staff
Higher staff morale leading to better work performance, customer service and even company stock performance


A survey even revealed that employees preferred flexible working hours to substantial additional pay.

Implementing Flexible Working Hours

Employers must know when they have peak workloads, needing more employees. This is not too difficult to assess with today's technologies like EPOS and computerized systems that can record transaction times.

Once the requirements are identified, flexible rostering software can generate rosters to fit the workload. This software would then help to optimize the rosters to meet:

Work contract requirements
Sociability factors, and
Employee work preferences to the extent possible

Where employee preferences cannot be met in full, the software would show the employees why this happened. This creates greater trust in the employees that their needs are being genuinely attended to.

Conclusion

The standard practice so far has been fixed working hours arranged in different shifts. This can lead of difficulties in balancing employees' personal and work life demands. Flexible working hours help better work/life balance and lead to a happier workforce. A happier workforce results in less absenteeism, better customer service and higher stock performance.
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