Tag: Learn What

Learn What? We want to learn, grow, change, grow, live, excel, take steps and do more. Learning is always but learns about the processes and theories to learn … it takes a certain purpose to understand it. How do people learn and key factors enable which effective factors?

Through Wikipedia, learning is the process of acquiring new or revising existing knowledge, behavior, skills, values or priorities. The ability to learn is near humans, animals, and some machines; Some plants have evidence of any kind of education.

Learning something is instantly motivating by an event, but more skills and knowledge are accumulating than the experience repeatedly. Learning-induced change often goes on for a lifetime, and it is difficult to separate the learning material, which is “lost” that cannot recover.

  • The Steps with Advantages and Disadvantages of Strategic Management

    The Steps with Advantages and Disadvantages of Strategic Management

    The Steps with Advantages and Disadvantages of Strategic Management; Strategy: The word “strategy” derives from the Greek word “stratçgos”; stratus (meaning army) and “ago” (meaning leading/moving). A strategy is an action that managers take to attain one or more of the organization’s goals. The strategy can also be defined as “A general direction set for the company and its various components to achieve a desired state in the future. Strategy results from the detailed strategic planning process”.

    Here explains you’ll read and learn; The Steps with Advantages and Disadvantages of Strategic Management.

    A strategy is all about integrating organizational activities and utilizing and allocating the scarce resources within the organizational environment to meet the present objectives. While planning a strategy it is essential to consider that decisions do not take in a Vaccum and that any action taken by a firm is likely to be met by a reaction from those affected, competitors, customers, employees or suppliers.

    The strategy can also define as knowledge of the goals, the uncertainty of events and the need to take into consideration the likely or actual behavior of others. The strategy is the blueprint of decisions in an organization that shows its objectives and goals, reduces the key policies, and plans for achieving these goals, and defines the business the company is to carry on, the type of economic and human organization it wants to be, and the contribution it plans to make to its shareholders, customers, and society at large.

    Steps of Strategic Management:

    The strategic management plan has various facets that are being discussed here. The strategies are applied to have proper planning and appropriate allocation of funds for the accomplishment of the goals of the company.

    Step 1: Formulation;

    The formulation of the strategies essentially involves the environment within which every company has to survive. Here various important decisions make to figure out how the company will reach out to the competition. Here the external environmental analysis is done. The political, economic, legal and social aspects are assessed during the formulation of the strategies.

    1. Industry Environment:

    The strategic decision-maker checks for the competitor environment. They try to assess the resources available to the rivals and also their bargaining power with the customers. It is also important to understand the trend of the suppliers; check if there are any latest threats of the new entrants in the industry.

    2. Internal Environment:

    Though most of the companies do not take care of the internal environment this is amongst the most important while implementing strategic management fundamentals. You should have a clear SWOT analysis of your employees, processes, and resources.

    Step 2: Implementation;

    This is the next important step in strategic management – here the management has to decide as to how the resources will be utilized to reach out to the goals formulated by the company. The implementation phase also checks how the resources of the organization have been structured.

    Advantages of Strategic Management Process:

    The process of strategic management is a comprehensive collection of different types of continuous activities and also the processes which use in the organization. Strategic management is a way to transform the existing static plan in a proper systematic process. Strategic management can have some immediate changes in the organization. The following mentioned are few advantages of strategic management;

    1. Making a better future;

    There is always a difference between reactive and proactive actions. When a company practices strategic management – the company will always be on the defensive side and not on the offensive end. You need to come out victorious in the competitive situation and not be a victim of the situation. It is not possible to foresee every situation but if you know that there are chances of certain situations then it is always better to keep your weapons ready to fight the situation.

    2. Identifying the directions;

    Strategic management essentially and clearly defines the goals and mission of the company. The main purpose of this management is to define realistic objectives and goals – this has to be in line with the vision of the company. Strategic management provides a base for the organization based on which progress can measure and base on the same, the employees can compensate.

    3. Better business decisions;

    It is important to understand the difference between a great idea and a good idea. If you do have a proper and clear vision of your company – then having a mission and methods to achieve the mission always seems to be a very good idea. It turns into a great idea when you decide what is the type of project that you want to invest your money; how do you plan to invest your time and also utilize the time of your employees. Once you are clear with your ideas about the project and the time each of your employees and you will have to allocate, you will need to focus your attention on the financial and human resources.

    4. The longevity of the business;

    The times are changing fast and dynamic changes are happening every day. The industries worldwide are changing at a fast pace and hence survival is difficult for those companies which do not have a strong and perfect base in the industry. The strategic management ensures that the company has a thorough stand in the related industry and the experts also make sure that the company is not just surviving on luck and better chances or opportunity.

    When you look at various studies you would know that the industries which are not following the strategic management will survive for not more than five years. This suggests that companies should have a powerful focus on the longevity of the business. This suggests that without strategic management, a company can’t survive in the long run.

    5. Increasing market share and profitability;

    With the help of strategic management, it is possible to increase the market share and also the profitability of the company in the market. If you have a very focused plan and strategic thinking then all the industries can explore better customer segments, products and services and also to understand the market conditions of the industry in which you are operating in. Strategic management skills will help you to approach the right target market. The experts will guide for better sales and marketing approaches. You can also have a better network of distribution and also help you to take business decisions which at the end of the day results in profit.

    6. Avoiding competitive convergence;

    Most of the companies have become so used to focusing on the competitors that they have started imitating their good practices. It has become so much competition that it is becoming difficult to part the companies or identify them differently. With the help of strategic management this magic is possible; try and learn all the best practices of a company and become a unique identity that will keep you apart from your competitors.

    7. Financial advantages;

    The firms which follow the process of strategic management prove to have more profits over some time as compared to the companies that do not opt for strategic management decisions. Those firms which involve in using strategic management use the right method of planning; these companies have excellent control over their future. They have a proper budget for their future projects; hence these businesses continue for a long time in the industry.

    8. Non-financial advantages;

    Besides the financial benefits, the companies using strategic management also provides various non-financial benefits. The experts informed that the firms which practice strategic management are always ready to defeat the external threats. They have a better understanding of the strengths and weaknesses of the competitor and hence they can withstand the competition. This paves way for better performance and rewards for the company over some time. The main feature of this management system is that it has the capacity for problem prevention and problem-solving skills. It also helps in bringing about discipline in the firm for all types of internal and external processes.

    Disadvantages of Strategic Management Process:

    The process of strategic management includes a set of long-term goals and objectives of the company; using this method helps the company is facing competition in a better manner and also increase its capabilities. These are some of the benefits but every coin has two sides – the same is the case with strategic management. Here are some of the limitations of strategic management;

    1. Complex process;

    The strategic management includes various types of continuous process which checks all type of major critical components. This includes the internal and external environments, long term and short term goals, strategic control of the company’s resources and last but not least it also has to check the organizational structure. This is a lengthy process because a change in one component can affect all the factors.

    Hence one must understand the issues with all the concerned factors. This generally takes time and in the end, the growth of the company affects. Being a complex process it calls for lots of patience and time from the management to implement the strategic management. To have proper strategic management, there should be strong leadership and properly structured resources.

    2. Time taking process;

    To implement strategic management, the top management must spend proper quality time to get the process right. The managers have to spend a lot of time researching, preparing and informing the employees about this new management. This type of long term and time-consuming training and orientation would hamper the regular activities of the company. The day to day operations are negatively impacted and in the long term, it could affect the business adversely.

    E.g. many issues require daily attention but this is not taken care of because they are busy researching the details about strategic management. In case, the proper resolution of the problems is not done on time then there could be a great amount of attrition increase. Besides this, the performance of the employees will also go down; because, they are not getting the required resolution of their problems. This type of situation may lead the management to divert all their critical resources towards employee performance and motivation; while doing this your strategic management process will be sidelined.

    3. Tough implementation;

    When we speak the word strategic management then it seems to be a huge and large word. But it is also a fact that the implementation of this management system is difficult as compared to other management techniques. The implementation process calls for perfect communication among the employees and employers. Strategic management has to be implemented in such a way that the employees have to remain fully attentive; there should be active participation among the employees and besides this, the employees have to be accountable for their work.

    This accountability means not only for the top management but for all employees across the hierarchy. The experts mentioned that implementation is difficult because they have to continuously strive to make the employees aware of the process and benefits of this system. E.g. if a manager was involved in forming the strategic process and he/she has not been involved in the implementation process then the manager will never be accountable for any processes in the company.

    4. Proper planning;

    When we say management systems then it calls for perfect planning. You just cannot write things on paper and leave them. This calls for proper practical planning. This is not possible by just one person but it is a team effort. When these types of processes are to implement then you need to sideline various regular decision-making activities that would adversely affect the business in the long run.

    Short Review: 

    In recent years, most of the firms have understood the importance of strategic management – it plays a key role in the upbringing and downfall of any company. In a nutshell, we can conclude that the purpose of strategic management is possible if a company can provide dedicated resources; and, staff to formulate and implement the entire system. If strategic management is implemented in the company thoroughly then there is no doubt that the company will survive all types of odds; and, competition and remain in the market for a long period.

    This is required in the present situation for all companies. It just calls for proper planning and the right people to implement them in the company. You need to keep a regular check on all external and internal factors affecting your industry; besides this check all your financial resources whether they are enough to expand your business. If you could keep in mind these things the implementation will become very easy and quick for any organization irrespective of their sizes.

    The Steps with Advantages and Disadvantages of Strategic Management
    The Steps with Advantages and Disadvantages of Strategic Management
  • 10 Reasons Why You’re Failing at Life?

    10 Reasons Why You’re Failing at Life?

    10 Reasons Why You’re Failing at Life?


    Failing at Life – As we continue further, I want you to realize that there are a number of things that we are doing wrong which may not seem serious, but they are ultimately hurting our lives in more ways than some. Read up! 

    • You Don’t Culture Yourself

    How often are you taking the time to study the world around you? There are thousands of different languages, hundreds of different restaurants, and art spewing from every far corner of every city. There is much that can come from the world around you. One might say that the only way anyone can become truly cultured is if they physically surround themselves with that culture. While this makes sense, there are many other ways to fulfill that need without having to go a couple thousand miles outside of the country. There is Google, Wikipedia, Netflix documentaries, and so much more that can shape you and create a masterpiece. All you have to do is step outside of the box and you will see the opportunities that lie ahead.

    • You Are Not Writing Down Your Ideas

    Are you coming up with ideas at random? Do you ever write them down? You should always write down your ideas no matter how silly they may be. You may not be able to map them out just yet, but maybe in a few years it will be able to happen. Write down those dreams and soon enough they will become reality. Don’t sleep on the idea. I use to pretend as if I had the perfect memory and that I could forget nothing and soon enough, I saw that all of my good ideas were going by the wayside because I wasn’t writing them down. Don’t be that guy/girl who never writes their ideas down. Start doing it and see where you get after a year or two. After a while something will be a hit. Then the games will begin.

    • You Forgot About Giving Back

    I guess you had this silly notion that you got to where you are without a little help. You thought for a split second that you were controlling the stars and the planets, and you put yourself in the alignment and out of the explosion came YOU. Giving back is one of the most important things you can do. Helping the homeless, family members, a brother or a sister could be that means of giving back.

    I am sure some of you may be reading this and thinking “Well, I do most of this stuff… I guess I am not failing.” Wrong! If you think because you do the bare minimum that you have done enough, then you have fooled yourself. There is much more that can be done and more to be done with the talents that you have. Giving back to others that are in need isn’t just something “cool” to do. It is, and should be, one of your many purposes of living.

    • Negative People Surround You

    Negative people have woven themselves into the very fiber of your existence. These so-called “Friends” aren’t the friends you saw on that 90’s sitcom show. Those were FRIENDS. What you have around you are a bunch of negative and tired individuals who need prayer and examination. IF this doesn’t apply to you then I suggest you move on, but before you go, here are a few other thoughts: What are you to your friends? Are you that negative one?  Are you the one bringing the people around you down? Here is the moment of clarity and honesty that you have been waiting for – if you are NOT the culprit then I suggest that you find new friends. If anything can done, pray for the older friends to find that purpose and that place in life for themselves as well.

    • Your Priorities Are Out of Order

    Your time and energy are not being spent on the right things and/or the right people. The people who truly care for you are being overlook. The things that are truly important are being place in the passenger seat, possibly even in the back seat or EVEN, the trunk. If the priorities aren’t squared up with the mission that your life is pillared upon, then you can kiss any thought of “success” goodbye. This is where writing out goals comes into place and where good friends, family, teachers, and any other important people in your life have to keep you in check. Just as much as we need to get by, so do you.

    • You Stopped WRITING

    Why have you stopped challenging the brain and all its thinking? The concept of writing is an expression of form and design meeting those faint blue lines, and yet you ignore them. You have now trapped yourself in the Alcatraz of Internet puns and one liners. Your entire life can now be summed up in a few mimes. You have brought this on yourself but the great thing is that you are not too late, You can begin writing letters to those you love and others who you may care about deeply, You may now physically cross your T’s and DOT your I’s.

    Through writing, we become better individuals. You once expressed yourself and gave your thoughts a chance to play. When you grew tired, you rested and then picked back up where you left off the next day. Try writing at least once or twice a week. Even if the letter never goes out to anyone, at least you will be pushing the brain to do all that it once did when you were a little child.

    • You Need to Start Forgiving

    10 Reasons Why You're Failing at Life - Don't Give Up!

    You are holding on to pain and torment and you have been doing this for years now. This is only a quicker way to destroy the goodness that is on the inside of your heart. By forgiving, we get a second to remember the time when a certain individual forgave us and then gave His life up for us. Everyone is having it tough but everyone isn’t letting their lack of forgiveness shape their entire world.

    • You Are Not Being Kind to Others

    You never know when a random act of kindness could change the world. Whether it is a friend, stranger, or family member. All of these individuals deserve kindness. If we were all a little bit kinder to our friends and the world around us, we would be in an entirely different place. When you are kind to others, perform the act with no want or no benefits behind it.

    • You are Not Networking

    We all know it’s not about what you know, it is about who you know. While we know this is important we forget about it all the time. There are organizations in each and every city that promote networking and getting involved with the community but we rarely use these opportunities. We let work and life drain us, and we never advance like we should. Some examples include groups such as the NAACP, National Urban League, the church (which is a great place to network with a variety of people), local community events and so on and so forth. With networking happening, you should definitely have business cards in place. Even if it is something general.

    Vistaprint is a great place to get a few business cards and Moo Cards is awesome as well. Also, every profession has a club or social group outside of its place of employment. Find those groups and see how you can get active with them or contribute to the cause. Lastly, we don’t stay in touch with the friends we have. Sometimes all it takes is someone to hear you say, “Yeah, I am looking for a job…” and all of a sudden they may know someone who can help you. Conferences, conventions and so many more things happen each and every day. It is time to start getting active! Network builds your net worth!

    • You are Forgetting to Pray

    This is one of those personal struggles of mine. I get so tiring and so wrapped up in my feelings, my problems and my life that I tend to forget about who controls it all. I forget about who is the master and who is in charge. A simple prayer could shape and change the lives of the world around us. I could continue to go on and on with this one, but I think it says it all. A hip-hop rapper I am close with said this: “You should pray more… it just makes sense, but all you want is dollars and that just don’t make cents.” I think that this is where I digress. Time to improve and make a change. Unless you want to continue failing because that is cool as well.

    Dear Learner! What do you think about 10 Reasons Why You’re Failing at Life? Be Your Extraordinary SelfReinvent Yourself..!

    10 Reasons Why You're Failing at Life?


  • Validity

    Validity

    What is Validity?


    The most crucial issue in test construction is validity. Whereas reliability addresses issues of consistency, validity assesses what the test is to be accurate about. A test that is valid for clinical assessment should measure what it is intended to measure and should also produce information useful to clinicians. A psychological test cannot be said to be valid in any abstract or absolute sense, but more practically, it must be valid in a particular context and for a specific group of people (Messick, 1995). Although a test can be reliable without being valid, the opposite is not true; a necessary prerequisite for validity is that the test must have achieved an adequate level of reliability. Thus, a valid test is one that accurately measures the variable it is intended to measure. For example, a test comprising questions about a person’s musical preference might erroneously state that it is a test of creativity. The test might be reliable in the sense that if it is given to the same person on different occasions, it produces similar results each time. However, it would not be reliable in that an investigation might indicate it does not correlate with other more valid measurements of creativity.

    Establishing the validity of a test can be extremely difficult, primarily because psychological variables are usually abstract concepts such as intelligence, anxiety, and personality. These concepts have no tangible reality, so their existence must be inferred through indirect means. In addition, conceptualization and research on constructs undergo change over time requiring that test validation go through continual refinement (G. Smith & McCarthy, 1995). In constructing a test, a test designer must follow two necessary, initial steps. First, the construct must be theoretically evaluated and described; second, specific operations (test questions) must be developed to measure it (S. Haynes et al., 1995). Even when the designer has followed these steps closely and conscientiously, it is sometimes difficult to determine what the test really measures. For example, IQ tests are good predictors of academic success, but many researchers question whether they adequately measure the concept of intelligence as it is theoretically described. Another hypothetical test that, based on its item content, might seem to measure what is described as musical aptitude may in reality be highly correlated with verbal abilities. Thus, it may be more a measure of verbal abilities than of musical aptitude.

    Any estimate of validity is concerned with relationships between the test and some external independently observed event. The Standards for Educational and Psychological Testing, American Educational Research Association [AERA], American Psychological Association [APA], & National Council for Measurement in Education [NCME], 1999; G. Morgan, Gliner, & Harmon, 2001) list the three main methods of establishing validity as content-related, criterion-related, and construct-related.

    Content Validity


    During the initial construction phase of any test, the developers must first be concerned with its content validity. This refers to the representativeness and relevance of the assessment instrument to the construct being measured. During the initial item selection, the constructors must carefully consider the skills or knowledge area of the variable they would like to measure. The items are then generated based on this conceptualization of the variable. At some point, it might be decided that the item content over-represents, under-represents, or excludes specific areas, and alterations in the items might be made accordingly. If experts on subject matter are used to determine the items, the number of these experts and their qualifications should be included in the test manual. The instructions they received and the extent of agreement between judges should also be provided. A good test covers not only the subject matter being measured, but also additional variables. For example, factual knowledge may be one criterion, but the application of that knowledge and the ability to analyze data are also important. Thus, a test with high content validity must cover all major aspects of the content area and must do so in the correct proportion.

    A concept somewhat related to content validity is face validity. These terms are not synonymous, however, because content validity pertains to judgments made by experts, whereas face validity concerns judgments made by the test users. The central issue in face validity is test rapport. Thus, a group of potential mechanics who are being tested for basic skills in arithmetic should have word problems that relate to machines rather than to business transactions. Face validity, then, is present if the test looks good to the persons taking it, to policymakers who decide to include it in their programs, and to other untrained personnel. Despite the potential importance of face validity in regard to test-taking attitudes, disappointingly few formal studies on face validity are performed and/or reported in test manuals.

    In the past, content validity has been conceptualized and operationalized as being based on the subjective judgment of the test developers. As a result, it has been regarded as the least preferred form of test validation, albeit necessary in the initial stages of test development. In addition, its usefulness has been primarily focused at achievement tests (how well has this student learned the content of the course?) and personnel selection (does this applicant know the information relevant to the potential job?). More recently, it has become used more extensively in personality and clinical assessment (Butcher, Graham, Williams, & Ben-Porath, 1990; Millon, 1994). This has paralleled more rigorous and empirically based approaches to content validity along with a closer integration to criterion and construct validation.

    Criterion Validity


    A second major approach to determining validity is criterion validity, which has also been called empirical or predictive validity. Criterion validity is determined by comparing test scores with some sort of performance on an outside measure. The outside measure should have a theoretical relation to the variable that the test is supposed to measure. For example, an intelligence test might be correlated with grade point average; an aptitude test, with independent job ratings or general maladjustment scores, with other tests measuring similar dimensions. The relation between the two measurements is usually expressed as a correlation coefficient.

    Criterion-related validity is most frequently divided into either concurrent or predictive validity. Concurrent validity refers to measurements taken at the same, or approximately the same, time as the test. For example, an intelligence test might be administered at the same time as assessments of a group’s level of academic achievement. Predictive validity refers to outside measurements that were taken some time after the test scores were derived. Thus, predictive validity might be evaluated by correlating the intelligence test scores with measures of academic achievement a year after the initial testing. Concurrent validation is often used as a substitute for predictive validation because it is simpler, less expensive, and not as time consuming. However, the main consideration in deciding whether concurrent or predictive validation is preferable depends on the test’s purpose. Predictive validity is most appropriate for tests used for selection and classification of personnel. This may include hiring job applicants, placing military personnel in specific occupational training programs, screening out individuals who are likely to develop emotional disorders, or identifying which category of psychiatric populations would be most likely to benefit from specific treatment approaches. These situations all require that the measurement device provide a prediction of some future outcome. In contrast, concurrent validation is preferable if an assessment of the client’s current status is required, rather than a prediction of what might occur to the client at some future time. The distinction can be summarized by asking “Is Mr. Jones maladjusted?” (concurrent validity) rather than “Is Mr. Jones likely to become maladjusted at some future time?” (predictive validity).

    An important consideration is the degree to which a specific test can be applied to a unique work-related environment (see Hogan, Hogan, & Roberts, 1996). This relates more to the social value and consequences of the assessment than the formal validity as reported in the test manual (Messick, 1995). In other words, can the test under consideration provide accurate assessments and predictions for the environment in which the examinee is working? To answer this question adequately, the examiner must refer to the manual and assess the similarity between the criteria used to establish the test’s validity and the situation to which he or she would like to apply the test. For example, can an aptitude test that has adequate criterion validity in the prediction of high school grade point average also be used to predict academic achievement for a population of college students? If the examiner has questions regarding the relative applicability of the test, he or she may need to undertake a series of specific tasks. The first is to identify the required skills for adequate performance in the situation involved. For example, the criteria for a successful teacher may include such attributes as verbal fluency, flexibility, and good public speaking skills. The examiner then must determine the degree to which each skill contributes to the quality of a teacher’s performance. Next, the examiner has to assess the extent to which the test under consideration measures each of these skills. The final step is to evaluate the extent to which the attribute that the test measures are relevant to the skills the examiner needs to predict. Based on these evaluations, the examiner can estimate the confidence that he or she places in the predictions developed from the test. This approach is sometimes referred to as synthetic validity because examiners must integrate or synthesize the criteria reported in the test manual with the variables they encounter in their clinical or organizational settings.

    The strength of criterion validity depends in part on the type of variable being measured. Usually, intellectual or aptitude tests give relatively higher validity coefficients than personality tests because there are generally a greater number of variables influencing personality than intelligence. As the number of variables that influences the trait being measured increases, it becomes progressively more difficult to account for them. When a large number of variables are not accounted for, the trait can be affected in unpredictable ways. This can create a much wider degree of fluctuation in the test scores, thereby lowering the validity coefficient. Thus, when evaluating a personality test, the examiner should not expect as high a validity coefficient as for intellectual or aptitude tests. A helpful guide is to look at the validities found in similar tests and compare them with the test being considered. For example, if an examiner wants to estimate the range of validity to be expected for the extra-version scale on the Myers Briggs Type Indicator, he or she might compare it with the validities for similar scales found in the California Personality Inventory and Eysenck Personality Questionnaire. The relative level of validity, then, depends both on the quality of the construction of the test and on the variable being studied.

    An important consideration is the extent to which the test accounts for the trait being measured or the behavior being predicted. For example, the typical correlation between intelligence tests and academic performance is about .50 (Neisser et al., 1996). Because no one would say that grade point average is entirely the result of intelligence, the relative extent to which intelligence determines grade point average has to be estimated. This can be calculated by squaring the correlation coefficient and changing it into a percentage. Thus, if the correlation of .50 is squared, it comes out to 25%, indicating that 25% of academic achievement can be accounted for by IQ as measured by the intelligence test. The remaining 75% may include factors such as motivation, quality of instruction, and past educational experience. The problem facing the examiner is to determine whether 25% of the variance is sufficiently useful for the intended purposes of the test. This ultimately depends on the personal judgment of the examiner.

    The main problem confronting criterion validity is finding an agreed-on, definable, acceptable, and feasible outside criterion. Whereas for an intelligence test the grade point average might be an acceptable criterion, it is far more difficult to identify adequate criteria for most personality tests. Even with so-called intelligence tests, many researchers argue that it is more appropriate to consider them tests of scholastic aptitude rather than of intelligence. Yet another difficulty with criterion validity is the possibility that the criterion measure will be inadvertently biased. This is referred to as criterion contamination and occurs when knowledge of the test results influences an individual’s later performance. For example, a supervisor in an organization who receives such information about subordinates may act differently toward a worker placed in a certain category after being tested. This situation may set up negative or positive expectations for the worker, which could influence his or her level of performance. The result is likely to artificially alter the level of the validity coefficients. To work around these difficulties, especially in regard to personality tests, a third major method must be used to determine validity. 

    Construct Validity


    The method of construct validity was developed in part to correct the inadequacies and difficulties encountered with content and criterion approaches. Early forms of content validity relied too much on subjective judgment, while criterion validity was too restrictive in working with the domains or structure of the constructs being measured. Criterion validity had the further difficulty in that there was often a lack of agreement in deciding on adequate outside criteria. The basic approach of construct validity is to assess the extent to which the test measures a theoretical construct or trait. This assessment involves three general steps. Initially, the test constructor must make a careful analysis of the trait. This is followed by a consideration of the ways in which the trait should relate to other variables. Finally, the test designer needs to test whether these hypothesized relationships actually exist (Foster & Cone, 1995). For example, a test measuring dominance should have a high correlation with the individual accepting leadership roles and a low or negative correlation with measures of submissiveness. Likewise, a test measuring anxiety should have a high positive correlation with individuals who are measured during an anxiety-provoking situation, such as an experiment involving some sort of physical pain. As these hypothesized relationships are verified by research studies, the degree of confidence that can be placed in a test increases.

    There is no single, best approach for determining construct validity; rather, a variety of different possibilities exist. For example, if some abilities are expected to increase with age, correlations can be made between a population’s test scores and age. This may be appropriate for variables such as intelligence or motor coordination, but it would not be applicable for most personality measurements. Even in the measurement of intelligence or motor coordination, this approach may not be appropriate beyond the age of maturity. Another method for determining construct validity is to measure the effects of experimental or treatment interventions. Thus, a posttest measurement may be taken following a period of instruction to see if the intervention affected the test scores in relation to a previous pretest measure. For example, after an examinee completes a course in arithmetic, it would be predicted that scores on a test of arithmetical ability would increase. Often, correlations can be made with other tests that supposedly measure a similar variable. However, a new test that correlates too highly with existing tests may represent needless duplication unless it incorporates some additional advantage such as a shortened format, ease of administration, or superior predictive validity. Factor analysis is of particular relevance to construct validation because it can be used to identify and assess the relative strength of different psychological traits. Factor analysis can also be used in the design of a test to identify the primary factor or factors measured by a series of different tests. Thus, it can be used to simplify one or more tests by reducing the number of categories to a few common factors or traits. The factorial validity of a test is the relative weight or loading that a factor has on the test. For example, if a factor analysis of a measure of psychopathology determined that the test was composed of two clear factors that seemed to be measuring anxiety and depression, the test could be considered to have factorial validity. This would be especially true if the two factors seemed to be accounting for a clear and large portion of what the test was measuring.

    Another method used in construct validity is to estimate the degree of internal consistency by correlating specific subtests with the test’s total score. For example, if a subtest on an intelligence test does not correlate adequately with the overall or Full Scale IQ, it should be either eliminated or altered in a way that increases the correlation. A final method for obtaining construct validity is for a test to converge or correlate highly with variables that are theoretically similar to it. The test should not only show this convergent validity but also have discriminate validity, in which it would demonstrate low or negative correlations with variables that are dissimilar to it. Thus, scores on reading comprehension should show high positive correlations with performance in a literature class and low correlations with performance in a class involving mathematical computation.

    Related to discriminant and convergent validity is the degree of sensitivity and specificity an assessment device demonstrates in identifying different categories. Sensitivity refers to the percentage of true positives that the instrument has identified, whereas specificity is the relative percentage of true negatives. A structured clinical interview might be quite sensitive in that it would accurately identify 90% of schizophrenics in an admitting ward of a hospital. However, it may not be sufficiently specific in that 30% of schizophrenics would be incorrectly classified as either normal or having some other diagnosis. The difficulty in determining sensitivity and specificity lies in developing agreed-on, objectively accurate outside criteria for categories such as psychiatric diagnosis, intelligence, or personality traits.

    As indicated by the variety of approaches discussed, no single, quick, efficient method exists for determining construct validity. It is similar to testing a series of hypotheses in which the results of the studies determine the meanings that can be attached to later test scores (Foster & Cone, 1995; Messick, 1995). Almost any data can be used, including material from the content and criterion approaches. The greater the amount of supporting data, the greater is the level of confidence with which the test can be used. In many ways, construct validity represents the strongest and most sophisticated approach to test construction. In many ways, all types of validity can be considered as subcategories of construct validity. It involves theoretical knowledge of the trait or ability being measured, knowledge of other related variables, hypothesis testing, and statements regarding the relationship of the test variable to a network of other variables that have been investigated. Thus, construct validation is a never-ending process in which new relationships always can be verified and investigated.


  • Goal Commitment: Meaning and Definition

    Goal Commitment: Meaning and Definition

    Goal Commitment? What affects the strength of commitment to goals? How does this affect goal attainment? Goal commitment is our determination to pursue a course of action that will lead to the goal we aspire to achieve (Bandura, 1986). The strength of goal commitment will affect how hard one will try to attain the goal. Goal commitment affects by the properties described thus far: difficulty and specificity. For example, when goals are too difficult, commitment declines, followed by a drop-off in performance (Locke & Latham, 1990).

    What is Goal Commitment?

    “Degree to which a person determine in achieving a desired (or required) goal.”

    Goals are central to current treatments of work motivation, and goal commitment is a critical construct in understanding the relationship between goals and task performance. Despite this importance, there is confusion about the role of goal commitment, and only recently has this key construct received the empirical attention it warrants. This meta-analysis, based on 83 independent samples, updates the goal commitment literature by summarizing the accumulated evidence on the antecedents and consequences of goal commitment. Using this aggregate empirical evidence, the role of goal commitment in the goal-setting process is clarified and key areas for future research identifies.

    Commitment also affect by goal intensity, goal participation, and peer influence.

    Goal Intensity:

    Commitment is related to goal intensity, or the amount of thought or mental effort that goes into formulating a goal and how it will be attained (Locke & Latham, 1990). This is similar to goal clarification because when we clarify a goal; we involve in a conscious process of collecting information about the goal and task and our ability to attain it (Schutz, 1989).

    In a study of fifth graders, Henderson (cited in Locke & Latham, 1990) found that students who formulated a greater number of reading purposes with more detail and elaboration attained their goals to a greater extent than did students with superficial purposes. Although there was no difference in IQ scores of the groups; the students who set more goals with elaboration were better readers. It stands to reason that the more thought that gives to developing a goal; the more likely one will commit to the goal.

    Goal Participation:

    How important, motivationally, is it for people to participate in goal setting? This is an important question because goals are often assigned by others at home, school, and work. The state imparts curriculum standards or goals to teachers, who in turn impose them on students. A sales manager may assign quotas to individual salespersons. Letting individuals participate in setting goals can lead to greater satisfaction. Nevertheless, telling people to achieve a goal can influence self-efficacy; because it suggests they are capable of achieving the goal (Locke & Latham, 1990).

    To investigate the effects of assigned and self-set goals; Schunk (1985) conducted a study of sixth-grade students with LD who were learning subtraction. One group was assigned goals (e.g., “Why don’t you try to do seven pages today”). A second group set goals themselves (e.g., “Decide how many pages you can do today”). A third group worked without goals. Students who self-set goals had the highest self-efficacy and math scores. Both goal groups demonstrated higher levels of self-regulation than the control group without any goals.

    Nevertheless, Locke and Latham (1990) concluded that self-set goals are not consistently more effective than assigned goals in increasing performance. The crucial factor in assigned goals is acceptance. Once individuals become involved in a goal, the goal itself becomes more important than how it was set or whether it was imposed. Because, at work and in schools, goals are often assigned by others; the assigned goals must accept by participants. Joint participation in goal setting by teachers and students may increase the acceptance of goals.

    Peer Influence:

    One factor where teachers might be influential in promoting goal acceptance and commitment is peer influence. Strong group pressures are likely to increase commitment to goals (Locke & Latham, 1990). This group cohesiveness is more often found on athletic teams. Obviously, the coach wants a strong commitment to the team goals. In the classroom, group goals may aid the commitment of students working in cooperative learning groups and thus lead to a higher quality of work.

    An Entrepreneur will need to do if you want to commit towards achievement:

    The following achievement below are;

    Make sure that your business goals are achievable.

    The biggest enemy of achieving business goals is setting up unrealistic goals. For example, if you set the goal to increase sales by 500%; although the growth of the industry is lower than 10%, surely, 500% would be unrealistic.

    If you notice that some goal cannot be achieved, simply adjust it in the line with reality. For example, use a 15% increasing in sales instead of 500%. The goal of 15% would be much more realistic, and certainly; it will be as imperative for you and your business to achieve it because it is above-average in the industry.

    Use specific sentences in your business goals.

    Imagine the goal from our example above: increasing sales in the future. For how much we will need to increase the sales? At which time we will need to increase the sales? This is a really confusing and undetermined goal. If you don’t know what to achieve and when to achieve it, you will probably not even try to achieve it.

    Write your business goals on the paper.

    Different scientific researches prove that if you put something on a paper; your commitment to that something is will be higher. In his book Influence; The Psychology of Persuasion, Dr. Robert Cialdini gives an example from the Korean war in which the Chinese soldiers in the camps where he held prisoners (soldiers) were looking for written statements that communism is better than the US system to write on the paper. Thus a long time they were committed to his own statement in which basically they did not believe. If your business goal writes on paper they will be in a group with a higher commitment than the goals that remain only in our head.

    Determine the activities that must accomplish.

    Knowing the activities that must implement to achieve your business goals in advance will increase the level of commitment to the goal. Therefore, once you have the goal of the paper, list the activities.

    Assign responsible for each activity.

    At the end of each activity assign responsibility for implementations. In such a way, the commitment will transfer to the employees or your team members; and, at the same time will assure achievement.

    Goal Commitment
    Goal Commitment: Meaning and Definition
  • What is Strategic Management? Meaning and Definition

    What is Strategic Management? Meaning and Definition

    What is Strategic Management? Strategic management involves the formulation and implementation of the major goals and initiatives taken by a company’s top management on behalf of owners, based on consideration of resources and an assessment of the internal and external environments in which the organization competes. Strategic management can also define as a bundle of decisions and acts which a manager undertakes and which decides the result of the firm’s performance.

    Here explains read and learn; What is Strategic Management? Meaning and Definition.

    Strategic management provides overall direction to the enterprise and involves specifying the organization’s objectives, developing policies and plans designed to achieve these objectives, and then allocating resources to implement the plans. Academics and practicing managers have developed numerous models and frameworks to assist in strategic decision making in the context of complex environments and competitive dynamics. Strategic management is not static; the models often include a feedback loop to monitor execution and inform the next round of planning.

    Michael Porter identifies three principles underlying strategy: creating a “unique and valuable market position”, making trade-offs by choosing “what not to do”, and creating “fit” by aligning company activities with one another to support the chosen strategy. Dr. Vladimir Kvint defines strategy as “a system of finding, formulating, and developing a doctrine that will ensure long-term success if followed faithfully.

    The corporate strategy involves answering a key question from a portfolio perspective: “What business should we be in?” Business strategy involves answering the question: “How shall we compete in this business?” In management theory and practice, a further distinction is often made between strategic management and operational management. Operational management is concerned primarily with improving efficiency and controlling costs within the boundaries set by the organization’s strategy.

    Definition of Strategic Management:

    Strategic management involves the formulation and implementation of the major goals and initiatives taken by a company’s top management on behalf of owners, based on consideration of resources and an assessment of the internal and external environments in which the organization competes.

    The strategy is defined as;

    “The determination of the basic long-term goals of an enterprise, and the adoption of courses of action and the allocation of resources necessary for carrying out these goals.”

    Strategies are established to set direction, focus effort, define or clarify the organization, and provide consistency or guidance in response to the environment. As well as, Strategic management involves the related concepts of strategic planning and strategic thinking. It is analytical and refers to formalized procedures to produce the data and analyses used as inputs for strategic thinking; which synthesizes the data resulting in the strategy. Strategic planning may also refer to control mechanisms used to implement the strategy once it determines.

    In other words, strategic planning happens around strategic thinking or strategy making activity. Strategic management often describes as involving two major processes: formulation and implementation of a strategy. While described sequentially below, in practice the two processes are iterative and each provides input for the other. Also, Strategic Management is all about identification and description of the strategies; that managers can carry to achieve better performance and a competitive advantage for their organization. An organization is said to have a competitive advantage if its profitability is higher than the average profitability of all companies in its industry.

    Explanation;

    The manager must have a thorough knowledge and analysis of the general and competitive organizational environment to make the right decisions. They should conduct a SWOT Analysis (Strengths, Weaknesses, Opportunities, and Threats), i.e., they should make the best possible utilization of strengths, minimize the organizational weaknesses, make use of arising opportunities from the business environment and shouldn’t ignore the threats.

    Strategic management is nothing but planning for both predictable as well as unfeasible contingencies. It applies to both small as well as large organizations as even the smallest organization faces competition; and, by formulating and implementing appropriate strategies; they can attain sustainable competitive advantage.

    It is a way in which strategists set the objectives and proceed about attaining them. It deals with making and implementing decisions about the future direction of an organization. They help us to identify the direction in which an organization is moving.

    Strategic management is a continuous process that evaluates and controls the business and the industries in which an organization involve; evaluates its competitors and sets goals and strategies to meet all existing and potential competitors; and then reevaluates strategies regularly to determine how it has been implemented and whether it was successful or does it needs replacement.

    Strategic Management
    What is Strategic Management? Meaning and Definition.

    More things;

    Strategic Management gives a broader perspective to the employees of an organization; and, they can better understand how their job fits into the entire organizational plan; how it co-relate to other organizational members. It is nothing but the art of managing employees in a manner that maximizes the ability to achieve business objectives. The employees become more trustworthy, more committed and satisfied; as they can co-relate themselves very well with each organizational task.

    They can understand the reaction of environmental changes in the organization; and, the probable response of the organization with the help of strategic management. Thus the employees can judge the impact of such changes on their job and can effectively face the changes. Also, the managers and employees must appropriately do appropriate things. They need to be both effective as well as efficient.

  • Strategy

    Strategy

    What is Strategy?


    A method or plan has chosen to bring about the desired future, such as achievement of a goal or solution to a problem.

    The art and science of planning and marshaling resources for their most efficient and effective use. The term is derived from the Greek word for generalship or leading an army. See also tactics.

    A strategy is a high-level plan to achieve one or more goals under conditions of uncertainty. In the sense of the “art of the general”, which included several subsets of skills including “tactics”, siege craft, logistics etc., the term came into use in the 6th century C.E. in East Roman terminology and was translated into Western vernacular languages only in the 18th century. From then until the 20th century, the word “strategy” came to denote “a comprehensive way to try to pursue political ends, including the threat or actual use of force, in a dialectic of wills” in a military conflict, in which both adversaries interact.

    Companies now face increasingly turbulent, complex and threatening environments. In the past, they could succeed by focusing virtually all management efforts on running their day to day affairs as efficiently as possible. Although such focusing is still important, adapting the firms to changing environmental conditions have become an essential gradient for success.

    The strategic management perspective highlights the significance of devoting more attention to analyzing environments and formulating strategies that relate directly to environmental changes. The ultimate purpose of strategic management is to help the organization increase its performance through increased effectiveness, efficiency, and flexibility.

    A strategy is a way of doing something. It usually includes the formulation of an objective and a set of action plans for the accomplishment of the objective.

    Strategic management may be understood as the process of formulating, implementing and evaluating business strategies to achieve organizational objectives. It is a set of managerial decisions and actions that determine the long-term performance of a corporation. It involves environmental scanning, strategy formulation, strategy implementation, evaluation, and control.

    The study of strategic management emphasizes on monitoring and evaluating environmental opportunities and threats in the light of corporation’s strengths and weaknesses.

    Step 01: Analyze opportunities and threats or constraints that exist in the external environment.

    Step 02: Formulate strategies that will match the organization’s strengths and weaknesses with opportunities and threats or constraints that exist in the external environment.

    Step 03: Implement the strategies.

    Step 04: Evaluate and control activities to ensure that organizations objectives are achieved.

    It is important because the resources available to achieve these goals are usually limited. Generally involves setting goals, determining actions to achieve the goals, and mobilizing resources to execute the actions. A strategy describes how the ends (goals) will be achieved by the means (resources). This is generally tasked with determining strategy. The strategy can be intended or can emerge as a pattern of activity as the organization adapts to its environment or competes. It involves activities such as strategic planning and strategic thinking.

    Henry Mintzberg from McGill University defined strategy as a pattern in a stream of decisions to contrast with a view of strategy as planning, while Max McKeown (2011) argues that “strategy is about shaping the future” and is the human attempt to get to “desirable ends with available means.” Dr. Vladimir Kvint defines strategy as “a system of finding, formulating, and developing a doctrine that will ensure long-term success if followed faithfully.”

    Many Definitions of Strategy

    In 1988, Henry Mintzberg described the many different definitions and perspectives on strategy reflected in both academic research and in practice. He examined the strategic process and concluded it was much more fluid and unpredictable than people had thought. Because of this, he could not point to one process that could be called strategic planning. Instead, Mintzberg concludes that there are five types of strategies:

    As plan: A directed course of action to achieve an intended set of goals; similar to the strategic planning concept.

    As pattern: A consistent pattern of past behavior, with a strategy realized over time rather than planned or intended. Where the realized pattern was different from the intent, he referred to the strategy as emergent.

    As position: Locating brands, products, or companies within the market, based on the conceptual framework of consumers or other stakeholders; a strategy determined primarily by factors outside the firm.

    As ploy: A specific maneuver intended to outwit a competitor; and

    As perspective: Executing strategy based on a “theory of the business” or natural extension of the mindset or ideological perspective of the organization.

    In 1998, Mintzberg developed these five types of management strategy into 10 “schools of thought” and grouped them into three categories. The first group is normative. It consists of the schools of informal design and conception, the formal planning, and analytical positioning. The second group, consisting of six schools, is more concerned with how strategic management is actually done, rather than prescribing optimal plans or positions. The six schools are entrepreneurial, visionary, cognitive, learning/adaptive/emergent, negotiation, corporate culture and business environment. The third and final group consists of one school, the configuration or transformation school, a hybrid of the other schools organized into stages, organizational life cycles, or “episodes”.

    Michael Porter defined strategy in 1980 as the “Broad formula for how a business is going to compete, what its goals should be, and what policies will be needed to carry out those goals” and the “Combination of the ends (goals) for which the firm is striving and the means (policies) by which it is seeking to get there.” He continued that: “The essence of formulating the competitive strategy is relating a company to its environment.”


  • Advantage and Disadvantages of Mission Statement

    Advantage and Disadvantages of Mission Statement

    Difference of Advantage and Disadvantages of Mission Statement


    What is Definition of Mission Statement? A sentence describing a company’s function, markets and competitive advantages; a short written statement of your business goals and philosophies. Difference of Advantages and Disadvantages of Diversity Management.

    A mission-statement defines what an organization is, why it exists, its reason for being. At a minimum, your mission-statement should define who your primary customers are, identify the products and services you produce, and describe the geographical location in which you operate.

    If you don’t have a mission-statement, create one by writing down in one sentence what the purpose of your business is. Ask two or three of the key people in your company to do the same thing. Then discuss the statements and come up with one sentence everyone agrees with. Once you have finalized your mission-statement, communicate it to everyone in the company.

    It’s more important to communicate the mission-statement to employees than to customers. Your mission-statement doesn’t have to be clever or catchy just accurate.

    If you already have a mission-statement, you will need to periodically review and possibly revise it to make sure it accurately reflects your goals as your company and the business and economic climates evolve. To do this, simply ask yourself if the statement still correctly describes what you’re doing.

    If your review results in a revision of the statement, be sure everyone in the company is aware of the change. Make a big deal out of it. After all, a change in your mission probably means your company is growing-and that’s a big deal.

    Once you have designed a niche for your business, you’re ready to create a mission-statement. A key tool that can be as important as your business plan, a mission-statement captures, in a few succinct sentences, the essence of your business’s goals and the philosophies underlying them. Equally important, the mission-statement signals what your business is all about to your customers, employees, suppliers and the community.

    The mission-statement reflects every facet of your business: the range and nature of the products you offer, pricing, quality, service, marketplace position, growth potential, use of technology, and your relationships with your customers, employees, suppliers, competitors and the community. Components of a Strategy Statement.

    Advantages of Mission-Statement

    Provides direction: Mission-statements are a way to direct a business into the right path, it plays a part in helping the business make better decisions which can be beneficial to them. Without the mission-statement providing direction, businesses may struggle when it comes to making decisions and planning for the future, this is why providing direction could be considered one of the most advantageous points of a mission-statement.

    Clear purpose: Having a clear purpose can remove any potential ambiguities that can surround the existence of a business. People who are interested in the progression of the business, such as stakeholders, will want to know that the business is making the right choices and progressing more towards achieving their goals, which will help to remove any doubt the stakeholders may have in the business.

    The benefit of having a simple and clear mission-statement is that it can be beneficial in many different ways. A mission-statement can help to play as a motivational tool within an organization. It can allow employees to all work towards one common goal that benefits both the organization and themselves. This can help with factors such as employee satisfaction and productivity. It is important that employees feel a sense of purpose. By giving them this sense of purpose it will allow them to focus more on their daily tasks. Help them to realize the goals of the organization and their role.

    Disadvantages of Mission-Statement

    Although it is mostly beneficial for a business to craft a good mission-statement. There are some situations where a mission-statement can be considered pointless or not useful to a business.

    Unrealistic: In most cases, mission statements turn out to be unrealistic and far too optimistic. An unrealistic mission statement can also affect the performance and morale of the employees within the workplace. This is because an unrealistic mission statement would reduce the likelihood of employees being able to meet this standard which could demotivate employees in the long term. Unrealistic mission statements also serve no purpose and can consider a waste of management’s time. Another issue which could arise from an unrealistic mission statement is that poor decisions could made in an attempt to achieve this goal. Which has the potential to harm the business and seen as a waste of both time and resources.

    Waste of time and resources: Mission-statements require planning, this takes time. Effort for those who are responsible for creating the mission statement. If the mission-statement is not achieve, then the process of creating. The mission-statement could seen as a waste of time for all of the people involve. A lot of thought and time is spent in designing a good mission-statement. And to have all of that time wasted is not what businesses can afford to doing. The wasted time could have spent on much more important tasks within the organization such as decision-making for the business.

    Advantage and Disadvantages of Mission Statement


  • Mission Statement

    Mission Statement

    What is Mission Statement?


    A mission statement is a short statement of an organization’s purpose, identifying the scope of its operations: what kind of product or service it provides, its primary customers or market, and its geographical region of operation. It may include a short statement of such fundamental matters as the organization’s values or philosophies, a business’s main competitive advantages, or a desired future state the “vision”.

    A mission statement is not simply a description of an organization by an external party, but an expression, made by its leaders, of their desires and intent for the organization. The purpose of a mission statement is to focus and direct the organization itself. It communicates primarily to the people who make up the organization its members or employees giving them a shared understanding of the organization’s intended direction. Organizations normally do not change their mission statements over time, since they define their continuous, ongoing purpose and focus.

    According to Chris Bart, professor of strategy and governance at McMaster University, a commercial mission statement consists of three essential components:

    Key Market: Who is your target client or customer (generalize if needed)?

    Contribution: What product or service do you provide to that client?

    Distinction: What makes your product or service unique, so that the client would choose you?

    Bart estimates that in practice, only about ten percent of mission statements say something meaningful. For this reason, they are widely regarded with contempt.

    The next step is to prepare mission statements. If the vision is “WHAT” of life, then the mission is “WHY” and “HOW”. It identifies the roles and activities to which an individual is committed and provides the overall direction for achieving the vision. Mission focuses on what you want to be and what you want to do- contributions and achievements. Mission focuses on the values and principles upon which being and doing are based. A personal vision needs to be clearly developed so that the mission statement can be based on it.

    I. These statements should clearly indicate the important roles and methodologies followed for fulfilling the vision.

    II. Techniques and tools such as affinity diagram, brainstorming, fish-bone diagram, and surveys should be used.

    III. Mission statements should realize the vision in action. Conduct a mind map to check whether it is really fulfilled.

    IV. These statements will carry the information which needs to be fulfilled in the near future.

    V. Time factor may be brought in to make it more systematic.

    Mission statements are prepared to make the employees understand in clear terms “HOW” to achieve the vision and “WHY” all this has to be done. It is a ROAD MAP for achieving the vision. The mission statements act as a guiding force encouraging the individuals to work towards reaching the vision.

    What is Purpose of Mission statement?

    The sole purpose of a mission statement is to serve as your company’s goal/agenda, it outlines clearly what the goal of the company is. Some generic examples of mission statements would be, “To provide the best service possible within the banking sector for our customers.” or “To provide the best experience for all of our customers.” The reason why businesses make use of mission statements is to make it clear what they look to achieve as an organization, not only for themselves and their employees but to the customers and other people who are a part of the business, such as shareholders. As a company evolves, so will their mission statement, this is to make sure that the company remains on track and to ensure that the mission statement does not lose its touch and become boring or stale.

    North American magazine and website that carries news stories about entrepreneurship, small business management, and business, Entrepreneur explains the purpose of a mission statement as the following:

    “The mission statement reflects every facet of your business: the range and nature of the products you offer, pricing, quality, service, marketplace position, growth potential, use of technology, and your relationships with your customers, employees, suppliers, competitors and the community.”

    It is important that a mission statement is not confused with a vision statement. As discussed earlier, the main purpose of a mission statement is to get across the ambitions of an organization in a short and simple fashion, it is not necessary to go into detail for the mission statement which is evident in examples given. The reason why it is important that a mission statement and vision statement are not confused is because they both serve different purposes. Vision statements tend to be more related to strategic planning and lean more towards discussing where a company aims to be in the future.

    Here are what business leaders say a mission statement should do for a company:

    “A good vision or mission statement will fill a few roles: It will be toothy enough to engage the media, analysts and other industry watchers. It will be aspirational enough to give employees something to reach for and bind them together in their day-to-day work. And it will be clear and specific enough to build the brand and affect public perception of the company. In an ideal world, it will even give your customers a sense that they’re buying into your vision when they purchase one of your products.” by Kyle Monson, a partner at Knock Twice hybrid creative agency.

    “A company’s mission statement is the cornerstone on which it is built. Its strategic plan and its culture are directly tied to the vision the mission statement puts forth. It is important that a mission statement supports the overarching goals and purpose of the company and explain why you exist as a business in a way that can be understood internally within the company and externally to consumers.” by Gerry David, president, and CEO of healthy lifestyle company Celsius Holdings.

    “Creating a mission statement takes time and a lot of decision making. It lays down expectations for how your customers and employees will interact with one another, so take your time with it. Clearly, write down your vision of the company and ask yourself, ‘What am I trying to accomplish?’ Think about how you want others to perceive your company, what’s important to you and your organization, and then prioritize it. Most importantly, make sure it’s clear, concise and easy for anyone to understand.” by Bobby Harris, president, and CEO of Blue Grace Logistics.


  • What is Vision Statement?

    What is Vision Statement?

    Learn, What is Vision Statement? Meaning and Definition!


    A vision statement is a declaration of an organization’s objectives, ideally based on economic foresight, intended to guide its internal decision-making. A vision statement is not limited to business organizations and may also be used by non-profit or governmental entities. Also learn, “The Language of Business” also called Accounting, but Why? Vision Statement! 

    The vision statement is written by looking ahead into the future. It aims at higher achievable things. It is based on what the organization should strive for and achieve in another five to ten years. Through various activities, the faculty is guided to attain the vision. This acts as a powerful tool, a guiding star. When personalized and truly owned, vision provides the incentive the drive towards fulfillment. It creates commitment, motivation and the drive for initiating the mission, objectives, projects, and tasks necessary to realize the vision. Developing a vision may take a few weeks. Though this looks to be a long time, it should be understood that it is a portrayal of what life could be five to ten years from now. Time is allowed for dreaming and brainstorming along with categorizing random thoughts to ensure a comprehensive and realistic vision.

    In today’s competitive environment, it is just not sufficient if we are a step ahead of other institutes. It should be by leaps and bounds. To achieve this, every institute needs to have a vision. They should start looking into the future, predicting it, planning for it, and making it happen. Only this will make the difference between dreaming things and making things happen. Thus, vision is the result of dreams in action.

    The gap between dream and action is filled with the plan. How well we succeed will depend upon depends on how well we plan. Planning sets the direction and speed of the progress. Effective utilization of time and resources is a needed prerequisite. To survive in this global village, productivity is more important than production. Effectiveness is more important than efficiency. It is more important how effectively I utilize the fewer opportunities put forth before me.

    Vision is not the state of being but the process of becoming. Vision should be something which is far fetching and not that which calls for a change every day. It should be borne in mind that the vision statement is organization specific.

    #Definition and Structure of Vision Statement!

    A vision statement is a company’s roadmap, indicating both what the company wants to become and guiding transformational initiatives by setting a defined direction for the company’s growth. Vision statements undergo minimal revisions during the life of a business, unlike operational goals which may be updated from year-to-year. Vision statements can range in length from short sentences to multiple pages. Vision statements are also formally written and referenced in company documents rather than, for example, general principles informally articulated by senior management.

    The definition of a vision statement according to Business Dictionary is “An aspirational description of what an organization would like to achieve or accomplish in the mid-term or long-term future. It is intended to serve as a clear guide for choosing current and future courses of action.”

    A consensus does not exist on the characteristics of a “good” or “bad” vision statement. Commonly cited traits include:

    Concise: Able to be easily remembered and repeated.

    Clear: Defines a prime goal.

    Future-oriented: Describes where the company is going rather than the current state.

    Stable: Offers a long-term perspective and is unlikely to be impacted by market or technology changes.

    Challenging: Not something that can be easily met and discarded.

    Abstract: General enough to encompass all of the organization’s interests and strategic direction.

    Inspiring: Motivates employees and is something that employees view as desirable.

    Management vision can lead the organization towards success and it can also demoralize the organization. There are cases where improper vision statements have ruined the organization. Hence, it is necessary that utmost importance is given and care is taken while formulating the vision statement. To formulate a vision statement, one has to study the core values and purpose of the organization. Only such a vision statement will do the motivating role.

    For the human being, there are many core values. Some people have money as the core value. Some have ethics and some have power, status as core values. Whatever people do are the reflections of their core value. Similarly, the activities of an organization should reflect its core value. Some of the core values are:

    I. Service to people.

    II. Innovative technology.

    III. High ethical standards.

    IV. Always on time, and.

    V. Maximum Profit.

    The purpose means to answer the question: “what for does the organization run?” This purpose also should reflect in the vision statement.

    The vision statement gives direction to the organization. Having a vision paves way for the success of the organization. Between the dream and the vision, the organization has to climb a ladder of action plans such as expertise, creativity, empowerment, involvement, and values. A vision in each of these sub-levels will help the organization to reach the goal faster.

    What should be Vision statement?

    As Future-oriented.

    As Creative.

    As Setting high standards of excellence.

    As Inspiring enthusiasm and encouraging commitment.

    As Reflecting uniqueness, and.

    As Very clear and challenging.

    It is found that when a vision is clearly stated, the focus is there. People, who look ten years ahead, succeed more rather than those who leave things to fate.

    Continuous monitoring and feedback are necessary to find where the organization is positioned with regard to its vision. It gives an indication of the progress of the organization.

    The vision should be popularized among the employees by having it displayed in all prominent places in the organization; having it printed on personal items such as ID cards, pay slips etc. Top officials should promote the vision statement frequently in personal and public talks. They must also own it and live it.

    What is Vision Statement - ilearnlot


  • Library and Internet Research

    Understanding and Using the Library and Internet Research


    What is Library? A library is a collection of sources of information and similar resources, made accessible to a defined community for reference or borrowing. It provides physical or digital access to material and may be a physical building or room, or a virtual space, or both. A library’s collection can include books, periodicals, newspapers, manuscripts, films, maps, prints, documents, micro-form, CDs, cassettes, videotapes, DVDs, Blu-ray Discs, e-books, audio-books, databases, and other formats. Libraries range in size from a few shelves of books to several million items.

    What is Internet Research? Internet research has had a profound impact on the way ideas are formed and knowledge is created. Common applications of Internet research include personal research on a particular subject (something mentioned on the news, a health problem, etc.), students doing research for academic projects and papers, and journalists and other writers researching stories.

    Research is a broad term. Here, it is used to mean “looking something up (on the Web)”. It includes any activity where a topic is identified, and an effort is made to actively gather information for the purpose of furthering understanding. It may include some post-collection analysis like a concern for quality or synthesis.

    A third approach to generate new business ideas is to conduct library and Internet research. A natural tendency is to think that an idea should be chosen, and the process of researching the idea should then begin. This approach is too linear. Often, the best ideas emerge when the general notion of an idea, like creating casual electronic games for adults, is merged with extensive library and Internet research, which might provide insights into the best type of casual games to create.

    Libraries are often an underutilized source of information for generating business ideas. The best approach to utilizing a library is to discuss your general area of interest with a reference librarian, who can point out useful resources, such as industry-specific magazines, trade journals, and industry reports. Simply browsing through several issues of a trade journal on a topic can spark new ideas. Very powerful search engines and databases are also available through university and large public libraries, which would cost hundreds or thousands of dollars to access on your own. An example is IBIS World (www.ibisworld.com), a company that publishes market research on all major industries and subcategories within industries. IBIS World published a 30-page report on the solar power industry, for example, in March 2011, which includes key statistics (about industry growth and profitability), a complete industry analysis, and an outlook for the future. Spending time reading this report could spark new ideas for solar powered devices or help affirm an existing idea.

    Internet research is also important. If you are starting from scratch, simply typing “new business ideas” into Google or Yahoo! will produce links to newspaper and magazine articles about the “hottest” and “latest” new business ideas. Although these types of articles are general in nature, they represent a starting point if you’re trying to generate new business ideas from scratch. If you have a specific idea in mind, a useful technique is to set up a Google or Yahoo! “e-mail alert” using keywords that pertain to your topic of interest. Google and Yahoo! alerts are e-mail updates of the latest Google or Yahoo! results including press releases, news articles, and blog posts based on your topic. This technique, which is available for free, will feed you a daily stream of news articles and Blog postings about specific topics. Another approach is to follow business leaders and experts in the industries you’re interested in on Twitter. The best way to locate people on Twitter you might be interested in following is by typing into the search bar labeled “Who to Follow” relevant keywords preceded by the “#” sign. For example, if you’re interested in solar power, type “#solar power” into the search bar. All the results will be people or companies who tweet about solar power topics.

    Once an entrepreneur has an idea, it often needs to be shaped and fine-tuned. One way to do this, in conjunction with the suggestions made previously, is to enlist a mentor to help. An explanation of how to use a mentor in this regard, and where mentors can be found, is described in the “Partnering for Success” feature.

    Library VS Internet Research


    Many people are confused about what constitutes library research versus what constitutes Internet research. Some people argue that effective research is never conducted on the Internet, that one needs access to the resources of a library to conduct thorough investigations. People in this camp argue that institutional libraries pay significant sums to provide access to proprietary databases to their customers that is, databases that offer abstracts, bibliographical information, and, oftentimes, full texts of articles published in scholarly journals. Also, research purists may argue that documents published on the Internet lack the authority of research that is peer-reviewed and published by major publishers. Something important to consider is the difference between an Internet resource and an academic resource accessed via the Internet. For example, if I simply Google “research method,” one of my first search results is from about.com – a good resource, but not necessarily an academic resource. Although I can glean about.com for useful information about the generics of a topic like “research methods,” for the purposes of an academic research assignment, it may be wise to use the Internet to access my library’s databases (like Academic Search Premier, JSTOR, etc.) for online access to a plethora of information pertaining to my search term. The Internet hosts a variety of resources, some of which are useful for casual, everyday references (like about.com) and others which are more appropriate for an academic research assignment (like my library’s databases: Academic Search Premier, JSTOR, etc.)

    Because of a misunderstanding about the way in which the Internet serves both purposes (casual, everyday research and formal, academic research) some students report they never use their library’s resources. Studies of the research processes of students have found that many students limit their investigations to search engines such as Google, paying especially close attention to the first eight or so hits on any search. Unfortunately, students who conduct research in this way often end up with sources that they later realize aren’t useful in crafting informed, thorough, formal academic research and/or arguments.

    To conduct effective research, you may need to use both the library and the Internet. Limiting yourself to the library cuts off some very innovative work that may not yet be accessible for your library’s periodical indexes and abstracts. In turn, relying solely on the Internet is like trying to dig a hole with your tongue rather than a shovel: extremely counterproductive and a waste of time.

    Information junkies know arguments for using either the library or the Internet are out of touch with reality. As research libraries increase the number of electronic resources they subscribe to, many traditional resources are now accessible via the Internet although passwords may be required. In other words, distinctions between the library and the Web are blurring.