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.

Definition of Scientific Management
What is Scientific Management? Meaning and Definition!

Scientific management is a theory of management that analyzes and synthesizes workflows. Its main objective is improving economic efficiency, especially labor productivity. It was one of the earliest attempts to apply science to the engineering of processes and to management. Scientific management is sometimes known as Taylorism after its founder, Frederick Winslow Taylor.

Taylor began the theory’s development in the United States during the 1880s and ’90s within manufacturing industries, especially steel. Its peak of influence came in the 1910s; In 1913 Vladimir Lenin wrote that the “most widely discussed topic today in Europe, and to some extent in Russia, is the ‘system’ of the American engineer, Frederick Taylor”; Lenin decried it initially as a “‘scientific’ system of sweating” more work from laborers. Taylor died in 1915 and by the 1920s, scientific management was still influential but had entered into competition and syncretism with opposing or complementary ideas.

Although scientific management as a distinct theory or school of thought was obsolete by the 1930s, most of its themes are still important parts of industrial engineering and management today. These include analysis; synthesis; logic; rationality; empiricism; work ethic; efficiency and elimination of waste; standardization of best practices; disdain for tradition preserved merely for its own sake or to protect the social status of particular workers with particular skill sets; the transformation of craft production into mass production; and knowledge transfer between workers and from workers into tools, processes, and documentation.

Define of Scientific Management by Taylor

Fredrick Winslow Taylor ( March 20, 1856 – March 21, 1915). Commonly known as “Father of Scientific Management” started his career as an operator and rose to the position of chief engineer. He conducts various experiments during this process which forms the basis of scientific management. It implies the application of scientific principles for studying & identifying management problems.

According to Taylor, “Scientific Management is an art of knowing exactly what you want your men to do and seeing that they do it in the best and cheapest way”. In Taylor’s view, if a work is analyzed scientifically it will be possible to find one best way to do it.

Hence scientific management is a thoughtful, organize, dual approach towards. The job of management against hit or miss or Rule of Thumb. Do you Know? How Do You Know Your Company Wants Help From The Outside? and What is Market-Based Management?

According to Drucker, “The cost of scientific management is the organized study of work, the analysis of work into simplest element & systematic management of worker’s performance of each element”.

Know More of Knowledge about Scientific Management

Scientific management was the first big management idea to reach a mass audience. It swept through corporate America in the early years of the 20th century, and much management thinking since has been either a reaction to it or a development of it.

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The idea was first to propound by Frederick Winslow Taylor, partly in response to a motivational problem. Which at the time was calling “soldiering”—the attempt among workers to do the least amount of work in the longest amount of time. To counter this, Taylor proposed that managers should scientifically measure productivity and set high targets for workers to achieve. This was in contrast to the alternative method, known as initiative and incentive. In which workers were rewarded with higher wages or promotion. Taylor described this method as “poisonous”.

Scientific management required managers to walk around with stopwatches and notepads carrying out time-and-motion studies on workers in different departments. It led to the piece-rate system in which workers were paid for their output, not for their time. Taylor’s first publication, which came out in 1895, was called “A Piece-Rate System”.

He believes that “the principal object of management should to secure the maximum prosperity for the employer, coupled with the maximum prosperity of each employee”. The interests of management, workers, and owners were, he maintains, intertwine. He wants to remove “all possible brain work” from the shop floor, handing all action, as far as possible, over to machines. “In the past, the man has been first; in the future, the machine must be first,” he was fond of saying. He ignites a debate about man versus machine that continued far into the 20th century. Also, read it Processes of Scientiﬁc Management.

Photo URL – http://cdn.calisphere.org/data/13030/jz/c8z31xjz/files/c8z31xjz-FILEID-1.593.43.jpg

Reference
1. Meaning of Scientific Management – https://en.wikipedia.org/wiki/Scientific_management
2. Definition of Scientific Management – http://www.managementstudyguide.com/scientificmanagement.htm
3. Knowledge of Scientific Management – http://www.economist.com/node/13092819
January 11, 2018
International and Comparative Human Resource Management

What is Difference between International and Comparative Human Resource Management? Meaning and Definition!

International Human Resource Management (Human Resource Management)

Due to increased globalization and easy mobility and communications between countries, companies operate at international level. The major task for organizations which operate across international boundaries is to manage. The dissimilar stresses of the drive for integration and differentiation. In the broader sense, International human resource management process has same activities as in Domestic HRM such as planning and staffing. However, domestic HRM is operated in one nation And IHRM activities are involving in different countries. International Human Resource Management is a branch of management studies that examine. The design and effects of organizational human resource practices in cross-cultural contexts.

It occupies an exciting position in the interstices of international business. Human resource management and organizational behavior, scholarships. The theoretical study explains that International HRM is the interplay between three dimensions: HR activities, the types of people being employed in the organization and the different countries that an organization is operating in (Dowling, 1999). Complexities caused by these last two variables are what differentiates international HRM from domestic HRM, as the HR activities themselves are relatively similar.

Comparative Human Resource Management (Human Resource Management)

The meaning and impact of comparative human resource management. Many scholars of HRM have to focus on a narrow definition of the topic that fits the liberal market agenda widespread in some countries but fails to capture the reality of any country – a problem brought into stark relief by comparative studies of HRM. On the basis of that analysis, it will be argued that multiple stakeholder perspectives focused on the long-term benefits to organizations. Employees and the wider community is a more powerful analytic tool. New Roles of Human Resource Management in Business Development.

As an increasing number of organizations seek to operate in foreign markets. It is vital that management practitioners develop a better understanding of, and sensitivity to, the impact of different national settings on the management task. In the field of cross-cultural management/organization, scholars have sought to assist practitioners in achieving. This by conducting research that has generally guiding by two key questions: (1) what is general and universal in the management of organizations, and (2) what is peculiar or specific to one nation or culture?

Difference between international and comparative HRM

International Human Resource Management has defined as HRM issues, functions. Policies and practices that result from the strategic activities of MNEs. International Human Resource Management deals principally with issues and problems associated with the globalization of capitalism. It involves the same elements as domestic HRM but is more complex to manage. In terms of the diversity of national contexts and types of workers. The emphasis is on the MNCs’ ability to attract, develop and deploy talented employees in a multinational setting and to get them to work effectively despite differences in culture, language, and locations. International HRM tends to mitigate the impact of national culture and national employment practice against corporate culture and practices.

Comparative Human Resource Management, on the other hand, is a systematic method of investigation. That seeks to explain the patterns and variations encountered in cross-national HRM rather than simply describe HRM institutions and practices in different societies. Different national business systems arise from differences in specific historical, cultural and institutional heritage in certain countries. Comparative differences occur due to decisive historical events such as the process of industrialization or due to the legacy of pre-modern forms of social organization. Hofstede adopted the ‘culturalist’ perspective where he argued that national business styles emerge due to ingrained cultural attitudes and mental schemas. He described culture under five dimensions which are power distance, individualism, masculinity, uncertainty avoidance and long-term orientation.

Human Resource Management policies and practices are becoming universal and that country-of-origin effects are no longer relevant. The pressure to build standardize operations internationally is strongest in sectors. Where competition is highly internationalizing, and where firms compete on the basis of a similar product or service across countries. Such as in cars and fast foods. They have put forward several reasons to explain this trend.

Firstly, all MNCs operate in one global market and therefore have to respond to the same environmental pressures such as globalization and technology. The growth in international trade and the move towards an internationally-integrated financial system.

Secondly, the widespread practice of benchmarking ‘best practice’ in terms of cost. Quality and productivity may also have contributed to the convergence of international HRM models for e.g. Japanese style ‘lean-production’ system in the 1980s and 1990s. Moreover, these pressures towards convergence stem in part from the influence of MNCs themselves through. Their ability to transfer practices across borders and erode country-of-origin effects.

Finally, the formation and development of like-minded international cadres mostly from American or European business schools. May have contributed to homogenize international HRM policies and practices.

Since the early 1990s, the international HRM literature has dominated by models and typologies aim at identifying how international HR fits with organizational strategy. The main issue for all multinational companies is the need to trade-off the advantages global efficiency namely. The coordination of its operations to achieve economies of scale and scope as opposing to the need to differentiate its products and services to meet the local demands. They also identify a third pressure, namely worldwide innovation and learning. Whereby firms are encouraging to support innovation and learning across. Their network of subsidiaries rather than simply relying on research and development at the headquarters. MNEs then follow the appropriate HRM policies and practices according to the structure of the organization. The competitive strategy is chosen or stage of corporate evolution reach.

Taylor’s model of strategic international HRM has described below

Exporting: This is essentially a model where the HQ management takes home country management approach and try to implement them in their foreign subsidiaries in order to achieve economies of scale. In this model, there is a system of hierarchy and a centralized control. This is especially useful in instances of an uncertain political environment and high risks demanding greater control from corporate parents. Given this pattern of centralization, there is a considerable amount of ‘forward policy transfer’ and less ‘reverse transfer. From subsidiaries to the HQ, i.e. they rely mainly on the technical know-how of the parent company. Strategic Role of e-HR (Electronic Human Resource).

Global firms offer products or services that are standardizing to enable production to carry in a cost-efficient way. Their subsidiaries are not subject to rigid control except over the quality and the presentation of the product or service. This structure is normally associate with the American firms with their formalize. Bureaucratic control and a dominant finance system to internalize risks. What is Need? The Do and Don’t in Diversity Management.

Adaptive: Differences in the host environment demands and conditions mean that overseas subsidiaries have to operate independently. This is common where departing from established practices in host environments is unlawful. For example, in some Germany, there is a legal obligation to negotiate with employee representatives concerning major organizational changes. In other cases, transferring practices may be legal but would go against traditional practices at the risk of losing goodwill from staff. Firms may decide to forgo HQ control if there is the possibility to exploit most efficiently the local labor markets. For example, MNCs which origin from high-cost highly regulates economies such as Germany may well choose not to transfer important elements of their HR systems. Such as collective bargaining or apprenticeship if they move to lower wage, lightly regulated economies such as China.

Integrative: It is also argued that the more management processes and activities can integrate across geographical boundaries. The easier it is to share resources and knowledge. They can identify and best use the skill and management talent. That exists across the MNC network allowing for both global integration and local differentiation.

As mentioned previously, international HRM processes consist of the same activities as domestic HRM but applied in an international context. These include an accurate human resource planning to ensure that the MNCs have the right people at the right place around the world. Good staffing policies that capitalize on the worldwide expertise of expatriates and locals. Performance appraisals that fit with the competitive strategies of the HQ. Adequate training and development to ensure that expatriates. Do not suffer from ‘culture shock‘ and compensation policies that are strategically and culturally relevant. The focus in international HRM strategy is how MNEs coordinate. Their geographically dispersed operations strengthening the organizational culture. Promoting commitment and encouraging willingness in employees to act in the interests of the firm.

Reference

1. International Human Resource Management – https://www.civilserviceindia.com/subject/Management/notes/international-human-resource-management.html
2. Comparative HRM – https://answers.yahoo.com/question/index?qid=20110221002250AApRjIq
3. Difference between International and Comparative HRM – https://www.ukessays.com/essays/business/difference-between-international-and-comparative-hrm.php

January 2, 2018
What is the Concept of Career Planning?
Concept of Career Planning; Career is viewed as a bunch or collection of jobs or positions. Generally, it describes an applicable career path within the structure of the organization. It shows the principal personnel development paths within the organization. The etymology of the term derived from the Latin word career, which means race. All the jobs, that are held together during one’s working life, constitute the career. It is also viewed as the sequence of positions held by an individual during his employment life. Edwin B. Flippo defined a career, as a sequence of separate but related work activities that provide continuity, order, and meaning in a person’s life.

The Concept of Career Planning: Definition, Objectives, Process, and Benefits.

A career may be viewed as the amalgamation of the changes in values, attitudes, and motivation an individual embraces, as he or she grows older. This constitutes a subjective element of the concept “career”.

Concept And Meaning Of Career planning:

Career planning is a process by which one selects career goals and the path to those goals. It involves a clear selection of career goals and career paths.
- Career goals: Career goals are the desired future positions an employee strives to reach as a part of the career.
- Career path: Career path is the sequential pattern of jobs during a career. It can cover 30 years or more until the retirement of the employee. It takes a long-term perspective of the job.
Career planning is a continuous process. HRM should facilitate it by providing career education, information, and counseling to employees for career planning purposes.
1. Career education: Career education increased employee awareness about career planning through a variety of educational techniques, such as:
- Workshops and seminars about career planning
- Memoranda and position papers about career planning
- Speeches about career planning
1. Career information: Career information provides information to employees about career planning. Such information can be available through Human Resource Information System. HR specialists can advise about career goals and alternative career paths.
2. Career counseling: Career counseling is done by professional counselors. They listen to employees and provide job-related information. They help employees to uncover their career interests. Employee self-assessment and environmental assessment are made during career counseling. Roles of HR Management in Organizations on Difficult Times. What is the concept of career planning?
Definitions of Career Planning:

A career may be defined as,

“A sequence of jobs that constitute what a person does for a living.”

According to Schermerborn, Hunt, and Osborn,

“Career planning is a process of systematically matching career goals and individual capabilities with opportunities for their fulfillment.”

Career planning is the process of enhancing an employee’s future value.

A career plan is an individual’s choice of occupation, organization and career path.

Career planning encourages individuals to explore and gather information, which enables them to synthesize, gain competencies, make decisions, set goals and take action. It is a crucial phase of human resource development that helps the employees in making the strategy for work-life balance. New Roles of Human Resource Management in Business Development.

Features of Career Planning and Career Development:
1. It is an ongoing process.
2. It helps individuals develop the skills required to fulfill different career roles.
3. Strengthens work-related activities in the organization.
4. Defines the life, career, abilities, and interests of the employees.
5. It can also give professional directions, as they relate to career goals.
Objectives of Career Planning:

The major objectives of career planning are as follows:
1. To identify the positive characteristics of the employees.
2. Develop awareness about each employee’s uniqueness.
3. To respect the feelings of other employees.
4. Attract talented employees to the organization.
5. To train employees towards team-building skills.
6. To create healthy ways of dealing with conflicts, emotions, and stress.
Benefits of Career Planning:
1. Career planning ensures a constant supply of promotable employees.
2. It helps in improving the loyalty of employees.
3. Career planning encourages an employee’s growth and development.
4. Discourages the negative attitude of superiors who interest in suppressing the growth of the subordinates.
5. It ensures that senior management knows about the caliber and capacity of the employees who can move upwards.
6. It can always create a team of employees prepared enough to meet any contingency.
7. Career planning reduces labor turnover.
8. Every organization prepares succession planning towards which career planning is the first step.
Career planning is the process by which one selects career goals and the path to these goals. The major focus of career planning is on assisting the employees to achieve a better match between personal goals and the opportunities that are realistically available in the organization. Career programs should not concentrate only on career growth opportunities. Practically speaking, there may not be enough high-level positions to make upward mobility a reality for a large number of employees. Hence, career-planning efforts need to pinpoint and highlight those areas that offer psychological success instead of vertical growth.

Career planning is not an event or end in itself, but a continuous process of developing human resources for achieving optimum results. It must, however, note that individual and organizational careers are not separate and distinct. A person who is not able to translate his career plan into action within the organization may probably quit the job if he has a choice.

What is the Concept of Career Planning? Image form Online.
December 23, 2017
Definition of Weakness, What is It?

Definition of Weakness?

What is Weakness? “Weakness is fear, not happenable or impossible things, a person who thought about fear anything of never to do it, that’s things called for personal weakness.” Other Words – The state or condition of being weak. A disadvantage or fault. A person or thing that one is unable to resist or likes excessively.

Weakness or asthenia is a symptom of a number of different conditions. The causes are many and can be divided into conditions that have true or perceived muscle weakness. True muscle weakness is a primary symptom of a variety of skeletal muscle diseases, including muscular dystrophy and inflammatory myopathy. It occurs in neuromuscular junction disorders, such as myasthenia gravis.

Weakness or Strength

Sometimes your biggest weakness can become your biggest strength.

Take, for example, the story of one 10-year-old boy who decided to study Judo despite the fact that he had lost his left arm in a devastating car accident.

The boy began lessons with an old Japanese Judo Master Sensei.

The boy was doing well, so he couldn’t understand why, after three months of training the master had taught him only one move.

“Sensei,” the boy finally said, “Shouldn’t I be learning more moves?’

“This is the only move you know. but this is the only move you will ever know,” the Sensei replied.

Not quite understanding, but believing in his teacher, the boy kept training.

Several months later, the sensei took the boy to his first tournament. Surprising himself, the boy easily won his first two matches. The third match proved to be more difficult, but after some time, his opponent became impatient and charged. The boy deftly used his one move to win the match.

Still amazed by his success, the boy was now in the finals.

This time, his opponent was bigger, stronger and more experienced. For a while, the boy appeared to be overmatched. Concerned that the boy might get hurt, the referee called a time-out.

He was about to stop the match when the sensei intervened.

“No,” the Sensei insisted, “Let him continue.”

Soon after the match resumed, his opponent made a critical mistake. He dropped his guard. Instantly, the boy used his mow to pin him. The boy had won the match and the tournament.

He was the champion.

On the way home, the boy and Sensei reviewed every mow in each and every match. Then the boy summoned the courage to ask what was really on his mind.

“Sensei, how did I win the tournament with only one mow?”

“You won for two reasons,” the Sensei answered. “First, you’ve almost mastered one of the most difficult throws in all of Judo. And second, the only known defense for that move is for your opponent to grab your left arm.”

The boys biggest weakness had become his biggest strength. The Naughty Boy.

Weakness is Strength

Everyone has their own strengths and weaknesses! Turning our weaknesses into strengths makes us unbeatable. This is an inspiring story of a 12-year-old boy Kim who defeated his weakness, by unknowingly making it his strength.

Poor Kim lost his left hand in a terrible accident. His parents could not console him. To cheer him up, his father made him join a Judo school. As the boy always wanted to learn Judo, his father thought that this would make him happy.

Everyone wondered how a single armed boy could learn Judo. However, the master happily enrolled him. He trained in Judo for about 8 months, practiced nothing but a single stroke, trained for all 8 months in mastering a single stroke. The boy was surprised and sometimes annoyed as his master taught him only one stroke.

Yet, he said nothing. The boy mastered the stroke and grew as nobody could excel in doing that particular stroke. The boy was picked by the master to compete in the national level Judo championship tournament.

Everyone made fun of Kim and the master. How could a one-handed boy win a national championship? Even the boy was not sure about why his master chose him.

Surprising to other’s taunting, Kim easily defeated his six contenders with his single stroke. He gradually moved to semi-finals. He struggled a bit in the semi-finals and won the match.

Needless to say, it surprised everyone. The final match began. The opponent was very strong and the boy could not counterattack him. The referee decided to halt the match, as the opponent could harm Kim severely. He announced a break and discussed with Kim’s master to stop the match and declare the opponent as the champion of the year. Even Kim was happy that he advanced very much and happily said yes! However, his master did not want him to quit the match. He asked Kim to continue the match. Of course, with a huge effort, Kim won the match and the title. He had become the champion!

Kim was so surprised how he won the competition with just a single stroke. His master told him,‘My dear boy, you learned the most difficult stroke in Judo that very few can master to perfection. If your opponent wants to beat you and prevent you from using the stroke, they should hold your left hand. This is the secret behind your victory!’

If the boy turned his weakness, the loss of his left hand to a massive success, why can’t we? What is the Secret of Success?

December 22, 2017
Definition of Strength, What is It?

Discover the true meaning of strength and its different aspects. Explore the physical, mental, and emotional dimensions of strength in this insightful blog post.

Definition of Strength?

“Strength is a power or value of Competition to others, strength is counting by numbers, group members, the value of quantity and quality of Strength.” Other Words – The quality or state of being physically strong. the influence or power possessed by a person, organization, or country. the degree of intensity of a feeling or belief. the potential of a hand to win tricks, arising from the number and type of high cards it contains.

The capacity of an object or substance to withstand great force or pressure. the emotional or mental qualities necessary in dealing with difficult or distressing situations. The potency or degree of concentration of a drug, chemical, or drink. A good or beneficial quality or attribute of a person or thing. a person or thing perceived as a source of mental or emotional support.

The number of people comprising a group, typically a team or army. Several people are required to make such a group complete. Best Characteristics and Qualities of a Good Leader

Capital, knowledge, skill, or another advantage that a firm has or can acquire over its competitors in meeting the needs of its customers. See also SWOT analysis.

Physical Strength

Physical-strength is the measure of an animal’s exertion of force on physical objects. Increasing physical strength is the goal of strength training.

An individual’s physical strength is determining two factors. The cross-sectional area of muscle fibers recruited to generate force and the intensity of the recruitment. Individuals with a high proportion of type I slow twitch muscle fibers will be relatively weaker than a similar individual. With a high proportion of type II fast twitch fibers but would have a greater inherent capacity for physical endurance. The genetic inheritance of muscle fiber type sets the outermost boundaries of physical strength possible (barring the use of enhancing agents such as testosterone). Though the unique position within this envelope is determining by training.

Individual muscle fiber ratios can determine through a muscle biopsy. Other considerations are the ability to recruit muscle fibers for a particular activity: joint angles, and the length of each limb. For a given cross-section, shorter limbs are able to lift more weight. The ability to gain muscle also varies person to person, based mainly upon genes dictating the amounts of hormones secreted. But also on sex, age, the health of the person, and adequate nutrients in the diet. A one-repetition maximum test is the most accurate way to determine maximum muscular strength.

Hysterical Strength

Hysterical-strength is a display of extreme strength by humans, beyond what is believing to normal, usually occurring when people are in life-and-death situations. Common anecdotal examples include parents lifting vehicles to rescue their children. The extra strength is commonly attributing to increasing adrenaline production, though supporting evidence is scarce, and inconclusive when available. Also, research into the phenomenon is difficult, though it is thought that it is theoretically possible.

December 22, 2017
What is Financial Management?

Financial Management means planning, organizing, directing and controlling the financial activities such as procurement and utilization of funds of the enterprise. It means applying general management principles to the financial resources of the enterprise. Financial management refers to the efficient and effective management of money (funds) in such a manner as to accomplish the objectives of the organization. It is the specializing function directly associates with the top management. The significance of this function is not seen in the ‘line’. But in the overall capacity of the company ‘staff’ is also in capacity. So, what is the question; What is Financial Management?

Here are explain; What is Financial Management? with Meaning and Definition.

The term typically applies to an organization or company’s financial strategy. While personal finance or financial life management refers to an individual’s management strategy. It includes how to raise the capital and how to allocate capital, i.e. capital budgeting. Not only for long-term budgeting but also how to allocate the short term resources like current liabilities. It also deals with the dividend policies of the shareholders. Customer Relationship Management.

Definition of Financial Management:

One needs money to make money. Finance is the life-blood of business and there must a continuous flow of funds in and out of a business enterprise. Money makes the wheels of business run smoothly. Sound plans, efficient production system and excellent. Marketing network is all hampered in the absence of an adequate and timely supply of funds.

According to Dr. S. N. Maheshwari,

“Financial management is concerned with raising financial resources and their effective utilization towards achieving the organizational goals.”

According to Richard A. Brealey,

“Financial management is the process of putting the available funds to the best advantage from the long-term point of view of business objectives.”

Sound financial management is as important in Business like production and marketing. A business firm requires finance to commence its operations, to continue operations and for expansion or growth. Finance is, therefore, an important operative function of the business. A large business firm has to raise funds from several sources and has to utilize those funds in alternative investment opportunities. In order to ensure the most prudent use of funds and to give proper returns on investment, sound financial policies and programs are requiring. Unwise financing can drive a business into bankruptcy just as easily as a poor product, inept marketing or high production costs.

On the other hand, adequate and economical financing can provide the firm with a differential advantage in the marketplace. The success of a business enterprise is largely determined by the way its capital funds is raising, utilized and disbursed. In the modern money-using economy, the importance of finance has increased further due to the increasing scale of operations and capital-intensive techniques of production and distribution.

In fact, finance is the bright thread running through all business activity. It influences and limits the activities of marketing, production, purchasing and personnel management. The success of a business is broadly measured financially. The efficient organization and administration of the finance function are thus vital to the successful functioning of every business enterprise. Sales Management, What You Do Know?

Meaning of Financial Management:

Financial management maybe defines as planning, organizing, directing and controlling the financial activities of an organization. According to Guthman and Dougal, the financial management means, “the activity concerned with the planning, raising, controlling and administering of funds used in the business.” It is concerned with the procurement and utilization of funds in the proper manner.

Financial activities happen not only with the purchase and use of money. However, along with assessing the needs of funding, capital budgeting, distribution of surplus, financial control etc. for funds, Ezra Solan has described the nature of financial management as follows: “Financial management is properly defined as an integral part As is seen, overall management, especially as an employee, concerns with the establishment of operations. ”

“In this broad perspective, the central issue of financial-policy is the wise use of money. The central process, there is a logical match for the benefit of the potential use of the cost of alternative potential sources, so that for any broad financial goals. Order to establish an enterprise, in addition to raising funds, financial management directly produces marketing and marketing within an enterprise. Concerns regarding actions, when done in the decision to acquire or distribution decisions. ”

What is Financial Management?

Reference:

1. Financial-Management.

December 19, 2017
Innovation Culture in Organizations

What is Innovation Culture in Organizations? Meaning and Definition!

Innovation culture is the work environment that leaders cultivate in order to nurture unorthodox thinking and its application. Workplaces that foster a culture of innovation generally subscribe to the belief that innovation is not the province of top leadership. But, can come from anyone in the organization. Innovation cultures are the prize by organizations that compete in markets define by the rapid change; maintaining the status quo is insufficient to compete effectively, thus making an innovation culture essential for success.

Innovation cultures often measure employees based on metrics such as value creation (for customers as well as for shareholders) and competitive differentiation. Instead of traditional metrics such as on-time delivery and revenue generation. Companies that foster innovative thinking also encourage discovery and find ways to reward time spent on the research required to generate new products and ideas. A much-cited example of this is Google’s “20% time” policy. Which allows employees to spend one-fifth of their work week on what they want to work on. With the expectation that this discretionary work will result in an “aha” moment.

Understanding Innovation Culture in Organizations

Growth creates a need for structure and discipline, organization changes. Which can strain the culture of creativity that is so vital to future success? To sustain competitive advantage, companies need to institutionalize the innovation process; they need to create an internal environment where creative thinking is central to their values, assumptions, and actions. Characteristics with Factors Influencing of Organizational Climate.

Innovation is the engine of growth. It is also a mindset – meaning it is influencing beliefs, values, and behavior. Company culture, therefore, has a huge influence on innovation, being able to either facilitate it or restrain it. Realizing this, many companies have attempted to put systems and processes in place that encourage an innovation culture. However, while such measures are often viewing as the panacea, they are really just the beginning. To shape a true innovation culture, the top people in a company need to develop a mindful approach. Where their every action and word reflects a real desire to encourage and develop new ideas.

Innovation Culture in IT Organizations

Three ways IT organizations can create an innovation culture is by embracing digital, establishing innovation labs and rewarding discovery.

Embrace digital

Innovation is par for the course with companies that aim to make the shift from traditional to digitalized business processes. Indeed, “going digital” is often the first step toward creating an innovation culture that permeates the workplace, rather than resides solely in IT or other pockets in the enterprise. Examples of digital projects include mobile payment and mobile product recommendations initiatives as well as any real-time network data provisioning. Each requires innovation. Until a few years ago, these projects were impractical and cost-prohibitive.

Establish an innovation lab

Creating an innovation lab serves many purposes, but one happy byproduct of such labs is a renewed collaboration between IT and the business because business innovation is closely tied today to information technologies. A real-world example is the innovation lab at Toyota Financial Services. Vice President and CIO Ron Guerrier started an innovation lab in 2011 for businesspeople to come and kick the tires, so to speak, on new automotive technologies.

Enabling and rewarding experimentation

An innovation culture allows people to experiment. For instance, an IT organization crawling through historical data, with no specific questions in mind. Might turn up findings that were totally unexpected based on correlations in the data. Nascent big data and improved higher-performance analytics engines are making data discovery exercises that were previously too time-consuming or cost-prohibitive for most companies newly practical.

Photo Url – https://pi.tedcdn.com/r/tedideas.files.wordpress.com/2017/03/frugal_innovation.png?

Reference

1. Innovation Culture – http://searchcio.techtarget.com/definition/innovation-culture
2. Innovation Culture in Organizations – https://www.mbaknol.com/management-concepts/innovation-culture-in-organizations/
3. Innovation Culture in IT Organizations – http://searchcio.techtarget.com/definition/innovation-culture

December 18, 2017
What is Customer Relationship Management? with Video Clip
What is Customer Relationship Management (CRM)? It is an approach to managing a company’s interaction with current and potential customers. It uses data analysis about customers’ history with a company and to improve business relationships with customers. Specifically focusing on customer retention and ultimately driving sales growth. Positive Relationships with Individual and Organization Outside. So, what is the question going to learn; What is CRM? with Video Clip.

Here are explain; What is Customer Relationship Management (CRM)? with a video clip for a better Understand.

One important aspect of the CRM approach is the systems of CRM that compile data from a range of different communication channels. Including a company’s website, telephone, email, live chat, marketing materials, and more recently, social media. Through the CRM approach and the systems used to facilitate it, businesses learn more about their target audiences. How to best cater to their needs. However, adopting the CRM approach may also occasionally lead to favoritism within an audience of consumers. Resulting in dissatisfaction among customers and defeating the purpose of CRM.

Customer relationship management (CRM) is a term that refers to practices, strategies, and technologies. That companies use to manage and analyze customer interactions and data throughout the customer life-cycle. To improve business relationships with customers, assisting in customer retention, and driving sales growth. Also, CRM systems are designed to compile information on customers across different channels or points of contact between the customer and the company. Which could include the company’s website, telephone, live chat, direct mail, marketing materials, and social media? CRM systems can also give customer-facing staff detailed information on customers’ personal information, purchase history, buying preferences, and concerns.

Objectives of CRM

Customer Relationship Management (CRM) as the name suggests the primary focal point is placed on the customer. The key objective is to increase customer value over time by increasing customer loyalty. If a company develops better customer relationships, it also improves business processes as well as its profits. In general, CRM is a more efficient automated method use to connect and improve. All areas of the business to focus on creating strong customer relationships. Also, All forces are coupled together to save, improve, and acquire greater business to customer relationships. The most common areas of business that are positively affected include marketing, sales, and customer service strategies.

Customer Relationship Management (CRM) helps create time efficiency and savings on both sides of the business spectrum. Through correct implementation and use of CRM solutions, companies gain a better understanding of their strongest and weakest areas and how they can improve upon these. Therefore, customers gain better products and services from their businesses of choice. To achieve better insight into CRM, it is essential to consider all of its components.

Strategy and Solutions of CRM

Customer relationship management (CRM) is a business strategy that spans your entire organization from the front office to the back-office. It is a commitment you make to put customers at the heart of your enterprise. Also, The right CRM strategy and solutions can help you securely, reliably, and consistently:
- Delight your customers every time they interact with your business by empowering them with any time, anywhere, and any channel access to accurate information and more personalized service.
- Reach more customers more effectively, increase customer retention and boost customer loyalty by leveraging opportunities to up-sell and cross-sell and driving repeat business at a lower cost.
- Drive improvements in business performance by providing your customers with the ability to access more information through self-service and assisted-service capabilities when it is convenient for them.
- Enable virtualization in your enterprise as more of your people and resources extend beyond your offices and around the world.
- Balance sophisticated functionality with rapid implementation and effective support for a faster return on your CRM investment.
Present Day of CRM:

Today’s customers face a growing range of choices in the products and services they can buy. Also, They base their choices on their perception of quality, value, and service. Each consumer has specific behavior. But buying habits are sometimes difficult to understand. Therefore companies always want to gain some insight into consumer behavior and habits to better control this behavior. Having an impact on consumer behavior means being able to change consumer’s perception of the product or service, to establish a relation between the company and its clients.

Another concept that is closely related to CRM is Customer Relationship Marketing. Which is a practice that encompasses all marketing activities direct toward establishing, developing, and maintaining successful customer relationships? Also, The focus of relationship marketing is on developing long-term relationships and improving corporate performance through customer loyalty and customer retention.

What is ‘Customer Relationship Management – CRM’:

Customer relationship management (CRM) refers to the principles, practices, and guidelines that an organization follows when interacting with its customers. From the organization’s point of view, this entire relationship encompasses direct interactions with customers, such as sales and service-related processes, and forecasting and analysis of customer trends and behaviors. Ultimately, CRM serves to enhance the customer’s overall experience.

With the growth of the Internet and related technologies. Customers are concerned about the privacy and safety of their personal information. Therefore, businesses need to ensure the storage and analysis of their customer data have the highest levels of protection against cybercriminals, identity theft, and other breaches of security.

BREAKING DOWN ‘Customer Relationship Management – CRM’:

Elements of CRM range from a company’s website and emails to mass mailings and telephone calls. Also, Social media represents one-way companies adapt to trends that benefit their bottom line. The entire point of CRM is to build positive experiences with customers to keep them coming back so a company creates a growing base of returning customers.

Software:

Special CRM software aggregates customer information in one place to give businesses easy access to data. Such as contact data, purchase history, and any previous contact with customer service representatives. This data helps employees interact with clients, anticipate customer needs. Recognize customer updates and track performance goals when it comes to sales. Also, CRM software’s main purpose is to make interactions more efficient and productive. Automated procedures within a CRM module include sending a sales team marketing materials based on a customer’s selection of a product or service. Programs also assess a customer’s needs to reduce the time it takes to fulfill a request.

Cloud Solutions:

Cloud-based systems provide real-time data to sales agents at the office and in the field as long as a computer, smartphone, laptop or tablet connects to the Internet. The convenience of this type of system has a trade-off. If the company goes out of business or faces acquisition, access to customer information may become compromised. A business might have compatibility issues when and if it migrates to a different vendor for this kind of software. Typically, cloud-based CRM programs cost more than in-house programs. Every Leader has to need Social Media Skills with Qualities.

Management:

All of the computer software in the world to help with CRM means nothing without proper management and decision-making from humans. Plus, the best programs organize data in a way that humans can interpret readily and use to their advantage. For successful CRM, companies must learn to discern useful information and superfluous data and weed out any duplicate and incomplete records that may give employees inaccurate information about customers.

What is Customer Relationship Management? with Video Clip
December 6, 2017
The Importance of Leadership in an Organization

What is the Importance of Leadership in an Organization?

First, Read it What is a Leadership? After that, read it Importance of Leadership; Good leadership is essential to business, to government and to the numerous groups and organizations that shape the way we live, work and play. Leadership is an important factor for making an organization successful. Here we are concerned with the manager as a leader. Leadership transforms potential into reality.

Leaders are a key human resource in any organization. We generally think of companies competing by means of their products, but they probably compete more by means of their leaders than their products. Better leaders develop better employees and the two together develop better products.

The importance of leadership in management cannot overemphasize. To get things done by people, management must supply leadership in the organization. Team-work is essential for realizing organizational goals. Managers must influence the team for work accomplishment through leadership. Secondly, leadership aids authority.

There are limits to the use of authority in obtaining high performance amongst subordinates. Authority alone cannot generate a favorable attitude for improve performance. Because of its main reliance on influence, leadership is essential for obtaining successful work accomplishment.

Thirdly, if management fails to provide able leadership, informal leadership will develop which will eventually regulate the behavior of the employees and may come into conflict with managerial leadership. Nature and Characteristics of Management.

If management cannot provide leadership, people will force to rely on informal leadership. Lastly, management is transformed into a social process through leadership action. It is the social skill of leadership which accomplishes organizational goals by utilizing the potential of the people. The leader must be a ‘hero’.

Formal and informal Leaders

From the view point of official recognition from top management, leaders may classifies as formal and informal leaders. A formal leader is one who is formally appoint or elects to direct and control the activities of the subordinates. He is a person created by the formal structure, enjoys organizational authority and is accountable to those who have elects him in a formal way. The formal leader has a two-fold responsibility. On the one hand, he has to fulfill the demands of the organization, while on the other he is also suppose to help, guide and direct his subordinates in satisfying their needs and aspirations.

Informal leaders are not formally recognize. They derive authority from the people who are under their influence. In any organization we can always find some persons who command respect and who are approach to help, guide and protect the informal leaders have only one task to perform, i.e., to help their followers in achieving their individual and group goals. Informal leaders are create to satisfy those needs which are not satisfy by the formal leaders. An organization can make effective use of informal leaders to strengthen the formal leadership. What are Nature and Characteristics of Leadership?

December 5, 2017
The Role of Great Leader in an Organization

What is a Leadership? As a leader, you’re forced to play multiple roles within your teams and your organization as a whole. No matter the size of a business, the services it provides, or the growth it’s experiencing, the drive behind it comes from leadership. And because of the nature of how businesses are most effectively run, a leader is judged on their ability to maximize the potential and performance of his people in order to create value. Really good companies create value across the board–for the customer, for stakeholders and investors, for employees and for the bottom line. So if leaders need to influence employees and team members, the same kind of mentality and approach isn’t going to work in every situation. There’s too much going on to have just one go-to style. So, what we discussing now; The Role of Great Leader in an Organization.

What is the role of a great leader in the organization?

I think of one of our larger clients, one of the world’s top memory chip makers, because the company embodies the incredible amount of change that is part of the business environment. A Senior Leader there told me that their technology must be completely revamped every nine months simply to stay on pace with the competition and the demands of the industry. Think about what that means for their CEO or their leaders. How would you motivate your employees and teams to produce, shift, pivot and rethink processes so rapidly? How do you create focus in the midst of such massive changes?

Leaders wear many hats in their work, but there are four critical roles that every leader must be aware of and know how to play. Why four? Well, our research has pointed out that people think in four different ways. Each of these thinking attributes delves into how people look at their work and the world. How they process information. Where they get energy from. How they develop ideas and execute tasks.

Let me be clear…these are not standalone attributes. Each and every one of uses all four thinking attributes; however, we all have preferences for one or more. We have our go-to ways of thinking. What that means for leaders though, is that the people they’re needing to influence and inspire are going to look at their work and motivate in distinctive ways. If you as a leader can master these four ways of thinking into the roles you play, you’ll assure of at least speaking the same language of your employees.

Let’s take a look at this in action–here are four roles that every leader must understand and utilize in order to connect on a cognitive level and motivate their workforce.

The Analyzer:

Leaders must know data and be confident enough to logically, rationally bring ideas to the table. In the role of the Analyzer, leaders must be able to play the skeptic and have a critical, strategic eye toward the future. Decisions need to be built from data and supported by bottom-line metrics. You need all of this rigor as a leader because when you’re communicating massive changes or a new direction to your team, you better have the facts to back it up. The analytical brains in your company will ask the critical questions–as the Analyzer, you can match their inquiry with logic and provide the Why.

The Structuralizer:

Leaders need to be straightforward and concise in order to put a plan in place that is clear and makes sense. In the role of Structuralizer, your job as a leader is to provide the framework. The process to take the company where it needs to go. The biggest complaint against leaders is lack of clear direction. Employees need to know that the leader has thought about what it is going to take to bring something through to fruition. You don’t need to literally create every step along the way. But in the Structuralized role, you provide the guidelines to help your employees feel prepared. The Structuralizer provides the How.

The Socializer:

Leaders have to ultimately connect and engage with their teams. Even the quietest, introspective leaders have an ability to relate deeply with their people. When you play the role of the Socializer, you’re creating an atmosphere of mutual accountability and collaboration. In this role, the most important thing a leader can do is to be empathic. That starts with curiosity–ask your employees how they’re feeling. Find out where changes need to happen. Your employees need to feel engaged with leadership and their colleagues, and as a Socializer, you set that tone. The Socializer understands Who is needed for success.

The Conceptualizer:

This is the most traditional view of leadership, but in many ways the most difficult–it’s about seeing. Where you need to go, setting the vision, and rallying the company around the future. Employees expect this kind of thinking from leaders, but it doesn’t come naturally to many of us. The Conceptualizer’s role is to ensure that people can step out of the day-to-day.

Understand that their work is critical and important to achieving the overall goal. It is playing the Steve Jobs role…where an iPhone isn’t simply a telephone or a new product line. But, an experiential tool that will alter the way the world gets information and communicates. In the role of Conceptualizer, leaders need to create a place of openness so that employees feel connected to the vision and ability to bring their own ideas. The Conceptualizer shows where you need to go.

These roles are not mutually exclusive. As a leader, you may need to play different roles with different audiences. And knowing how your behavior comes across and how you express, assert and provide direction is another matter entirely. But, if you can understand which roles you tend to play more. Realize that at some point you’ll need all four, you will be much more effective in your work. Importance of Leadership.

Following are the main roles of a leader in an Organization.

Required at all levels: Leadership is a function which is important at all levels of management. In the top level, it is important for getting co-operation in the formulation of plans and policies. In the middle and lower level, it is required for interpretation. Execution of plans and programs farm by the top management. Leadership can exercise through guidance and counseling of the subordinates at the time of execution of plans.

The representative of the organization: A leader, i.e., a manager is said to the representative of the enterprise. He has to represent the concern at seminars, conferences, general meetings, etc. His role is to communicate the rationale of the enterprise to outside public. He is also representative of the own department which he leads.

Integrates and reconciles the personal goals with organizational goals: A leader through leadership traits helps in reconciling/ integrating the personal goals of the employees with the organizational goals. He is trying to coordinate the efforts of people towards a common purpose and thereby achieves objectives. This can be done only if he can influence and get willing co-operation and urge to accomplish the objectives.

He solicits support: A leader is a manager and besides that, he is a person. Who entertains and invites support and co-operation of subordinates. This he can do by his personality, intelligence, maturity, and experience which can provide him a positive result. In this regard, a leader has to invite suggestions and if possible implement them into plans and programmes of the enterprise. This way, he can solicit the full support of employees. Which results in the willingness to work and thereby effectiveness in running of a concern.

As a friend, philosopher, and guide: A leader must possess the three-dimensional traits in him. He can a friend by sharing the feelings, opinions, and desires with the employees. A philosopher by utilizing his intelligence and experience and thereby guiding the employees as and when time requires. A guide by supervising and communicating the employees the plans. Policies of top management and secure their co-operation to achieve the goals of a concern. At times he can also play the role of a counselor by counseling and a problem-solving approach. He can listen to the problems of the employees and try to solve them. Best Characteristics and Qualities of a Good Leader.

December 5, 2017