Concept of Management

We often talk of management in almost all spheres of our lives - from home to office and from shops to malls - nothing moves without efficient management by everyone; from ordinary worker to the top hierarchy or even your wife when it comes to handling and 'managing' the affairs of the house.

So what this management really means and is all about.

Management is in fact the administration and coordination of efforts of every tool, machine and human resource for best possible 'productive' output. Simply speaking, management is the process of dealing with or controlling things or people. F W Taylor describes management as an art of “knowing what you want to do” and then seeing that it is done in the best and cheapest way

But a detailed and more elaborate definition of management is defined by Wikipedia as: The administration of an organization, whether it is a business, a not-for-profit organization, or government body. Management includes the activities of setting the strategy of an organization and coordinating the efforts of its employees (or of volunteers) to accomplish its objectives through the application of available resources, such as financial, natural, technological, and human resources. The term "management" may also refer to those people who manage an organization.

Going deep into the concept, things start to take rather complex shape as far management is concerned. The concept of management translates into a process of planning, organizing, staffing, directing, co-ordinating and controlling the activities of business enterprises. It is also described as the technique of leadership, decision making and a mean of co-ordinating.

From the above, it can be seen that it is the leadership which decided and defines the concept for the enterprise by taking the right decisions and coordinating all efforts for the ultimate goal of optimum productivity, outcome and profits.

Now this is simply a birds eye view of management. But there is whole lot more to it and I will try to broaden the concept in my future posts.

References: Wikipedia | Photo

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Who are successful people - 4

I am sharing a series of graphics showing who are successful people and what makes them so. My previous and third post centered on successful people who continue to learn more rather than sticking on to their already gained knowledge which may not conform to the requirements of the day and changing business or environment patterns.

How is your attitude towards your colleagues and subordinates when they do something good for the organization or to you? This is what we are going to dwell at today.

Thus my fourth post today centres on people who give compliments to their colleagues and subordinates when they render any assistance or proffer a new idea which may be helpful in solving a problem. This is what the successful people do as against those unsuccessful people who are always bickering and criticising others for no valid reason. 

Even complimenting a stranger opens up a conversation and makes new friends. It even sparks creativity in people being complimented. But remember compliment people - but do not flatter as it may leave a person overjoyed beyond a point which may make one proud and over confident. 

So always be forthcoming in complimenting others, for its leaves a refreshing impression on others, which may in turn help them work more being refreshed by a pat of filip on their shoulder - rather than being demoralised by undue criticism.

My previous on the series: 

Who are successful people - 1

Who are successful people - 2

Who are successful people - 3

Shared from Wittyfeed

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Who are successful people - 3

I have so far shared two reasons that make people successful or otherwise. This is my third post as to who successful people really are. 

These series of posts are specially for the benefit of the managers and people associated with business as a small let up here and there can cost the business very dearly - and also to one's future career.

One has to be mindful of one's behaviour when one is dealing with people or when being watched by his colleagues and subordinates. Those watching him want to see something new in his approach or strategy rather than sticking on to the traditional mindset rotting due to inertia and stagnation. 

As can be seen in the graphic below, those who continuously try to learn new strategies and new business techniques carry the day.

Here comes the opposing side: They contend that whatever they know has been time tested and has been used by many a successful manager in the past. True to an extent as there is no alternative to experience. But that does not mean that one should not try out new things for advancement in technology has changed many business strategies altogether - even leaving some redundant.

Remember:

Successful people believe that learning never ends. This doesn’t mean they’re going to school to get new degrees, although they may. Even without formal education, they’re constantly reading and learning from others around them, perhaps from books, trade magazines or conferences, or from others who are ahead of where they want to be. 

What have you learned recently that can get you closer to the success you want? If you haven’t picked up a book, trade magazine or listened to CDs or MP3s that can get you smarter in your field, it’s time to start. (Source)

What do you say?

My first post on the series: 

Who are successful people - 1

Who are successful people - 2

Shared from Wittyfeed

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Moody’s predict stable outlook for Pakistan

International monitoring watchdog Moody’s Investors Service has assigned a provisional rating of (P)B3 to Pakistan’s announced global bond offering while keeping the outlook stable.

The predicted announcement comes after Pakistan and China agreed to establishing a  China-Pakistan Economic Corridor (CPEC) from Pakistan's Gwader port on the Arabian Sea to China through land route in Pakistan.

CPEC is expected to generate immense economic activity in Pakistan including the communication, transportation and power generation sectors.

Source

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Who are Successful People - 1

This world is about successful people only. Be it business, politics or anything else - it is those few successful people who have changed the canvas of the world scape and made the difference.

What makes people successful anyway? I came across a few figures showing what makes some people successful and gives them an upper edge over the others. I shall be sharing these couple of dozen figures one by one so that newbies take time to absorb the idea and learn how to be successful in anything they do.

Here is the first one:

Noticed the thin line difference? The successful people help others to succeed - while the unsuccessful people are always trying to make the successful people fall - rather than concentrating their energies to succeed.

Always remember: Strong people do not put others down - they lift them up !!

This is the first one - wait for more four more reasons that make people successful. 

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275,000 people not paid as HSBC's payments system fails in Britain

It was a bad day at HSBC as it failed to make payments to some 275,000 people due to system crash.

A report says that hundreds of millions have not been paid to up to 275,000 people Saturday today and the victims take to social media to complain as their salaries are not paid.

HSBC first denied fault but three hours later Britain's biggest bank, which has 16 million UK customers, revealed an IT glitch in the Bacs system meant they failed to transfer hundreds of millions of pounds on pay day. 

HSBC has however promised that the payments will be made by the evening.

Bacs,  that stands for 'Bankers' Automated Clearing Services,'is a system in the UK for making payments directly from one bank account to another and is used largely used by employers to pay employees weekly or monthly.


Read details at Mail Online

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How to Influence People - and make friends

Influencing people is the major job of a manager and a marketeer in the world of business. Even in ordinary life, we come across difficult people to deal with. And the test is to win them over and make them friends or good followers if in business.

Dale Breckenridge Carnegie, born Maryville, Missouri, United States, was an American writer and lecturer who not only wrote about influencing people but also helped people with his studies for self-improvement, salesmanship, corporate training, public speaking, and interpersonal skills.

Herein under is a diagrammatic interpretation of Carnegie's model of winning people and leaving a long lasting influence on them. For managers in the corporate world in particular this method may come handy and bear dividends not only to influence others but also make life long friends.

Try it and you will find it to your advantage both in your personal life and business.

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Project Management - the Essence of Business Management

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As the business dynamics are changing with the advancement in business tools, technological advancement that aid business, so is the requirement to know more about Project Management or PM to boost one's business.

What is Pm then? Project management is the discipline of planning, organizing, motivating, and controlling resources to achieve specific goals. This project management aims to achieve all of the project goals and objectives while honoring the preconceived constraints.

Project management in fact address the rather static business structures, processes and organisation design to conform these to the constantly changing requirements of the customer demands. The PM helps in understanding new technologies, meeting the requirements of new legislation or developing an entirely new product from the existing infrastructre.

A Project Manager also advises the business geeks how to confrorm the structure of their business vis a vis the customer requirements and altogether new products by making modifications and incorportaing new technologies.

How can Project Management help bringing in more business, can be summed as under:
Defining the End State: 
This may be surprising for for some as why the end state come first rather than defining the goal posts from the beginning  Well a project manager would argue that one must know what the end product really is. As I wrote before, the business structures and designs are rather static and cannot be realigned for each new product.

Having ascertained what final product would be, the entire process planning from start to end is to be road mapped - worked back and redefine the business process to make modifications to make the product.

Working out the Resources Requirement:
Once it has been ascertained how the end product would look like, it would be easier to work out its resources requirement. This would include requirement of specialist staff, financial outlay, project cost and need for additional technical tools. While doing so, additional costs to hire machines, staff and material should not be overlooked.

Project Overlay:
Once the end product has been identified and its special need know, the entire project is laid out from beginning to end and a formal approval is obtained for the project to be implemented smoothly. 

Planning and Scheduling:
Once the project is approved, then the detailed nitty-gritty are planned since these are very critical for the success of the project. While doing so, time and resources for unforeseen eventualities must be catered for so that the project does not bog down half way for something not planned or catered for earlier.

Monitoring the Getting Going:
Once the project gets going, a Project Manager should be the most restless person around. Unless the entire project is kept under nose and full supervision, something may drastically wrong which may not be possible to correct later on.

In fact this is the difference between Quality Control and Quality Assurance. A project manager is more concerned with the latter so that if anything goes wrong at any stage, the process can be froozen, controls applied and go ahead given. A wuality control approach may overlook many things in the process and the final product then may not be acceptable to the customer. 

It will be thus seen from the above sequence that a projetc manager is hit against the wall all the time and fighting to break the inertia - the rather static nature of business process and relcutance of people involved to work on a changed framework.

I remember once I made changes to an age old system of work, and the entire staff pressed their feet on the brakes to adapt to the new system. I somehow managed to got them going - it was only after they understood the new strategy of doing things, they found out how much extra they had been working previously with far lesser refinement as they did after changing over to new techniques and mindset.

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Do you know What is 'Contextual Marketing?'

Use of internet and digital devices has become a centre point in business - specially for marketing. Unless managers at sales and market departments are laced with apps and aids available to boost their business and bring business to their organizations, they will always be lagging behind than others.

There are many aids available online - and one of these is Contextual Marketing!!

Todd Wasserman at Mashable contends that there's always a context to your marketing, just like there's a context to every action. You could argue that you're a proponent of contextual walking if you can explain the reasoning and circumstances around your perambulations. Contextual eating, meanwhile, occurs whenever you can furnish information about the setting and thoughts that went behind each bite.

David Jacobs, consumer protection counsel for the Electronic Privacy Information Center, a watchdog group, says:

"I believe contextual marketing refers to advertising that's designed to align with the media property in which it appears. For example, if you're browsing Auto Trend then you'll see ads for cars and motor oil. If you're watching Bridezillas then you might see ads for feminine products. And so on.

What do you think? Think more about Contextual Marketing and see how can it benefit your business!!

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Welcome to the Sales Department

Sales is a department that entails salesmen making statement about a product that company wants to project and what consumers want to hear - not what the product actually is.

What do you think?

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12 BuzzWords likely 2013

The year 2012 is days gone now and everyone is talking of 2013, even businessmen - big or small. 

Would they be the same as of last year or use different jargon or language to impress upon their customers to enhance their business?

BusinessNewsDaily interviewed small business owners, PR people, entrepreneurs and others to give workers a heads up on which buzzwords they may see in the coming year.

1. Advertainment -- "Advertising is no longer about interrupting what people are interested in, it's about being what people are interested in."
2. Phablets -- A mixture of a smartphone and tablet.
3. Growth hacker -- "A role that replaces traditional marketing roles in fast-growing businesses."
4. Social learning -- "An individual's learning a skill through observation, without necessarily changing their behaviors or on-the-job performance.
5. Alphanista -- "Successful women in powerful positions having it all."
6. Acqui-hire -- "A blend of acquired and hired."
7. Return on involvement -- A brand that "gets involved with their community will garner better return on their investment by getting involved hosting fundraisers, partnering with schools and giving the local residents a gathering spot."
8. Inventreprenuers -- "An entrepreneur-inventor hybrid that markets and/or manufactures their own creation."
9. Twinternship -- "An internship where the student’s mission is to promote the company and its brands using social media such as Twitter and Facebook."
10. Wantrepreneur -- Someone who hasn’t "taken all the steps necessary to take the leap" intoentrepreneurship.
11. Minergy -- Someone who uses "minimal energy to get the task accomplished."
12. Tri-ti-tasking -- "Doing three things at once."
    What about you, if you are a businessman - would you use this vocabulary too?
    via Mashable

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Twitter Basics for online Business

By: Thomas Drzazgowski

What is Twitter? Basically Twitter is known as a social media marketing website that is certainly free. With Twitter you'll be able to micro-blog, that's the facility for users to send up-dates to other people or have their own personal updates read by others, also known as tweets. The Tweets are essentially written written text posts which can be around one hundred forty characters in length, and then displayed using a user's profile page, they shall be delivered to anybody within the users network which they desire them to become pumped to. People that the messages are forwarded to these are known as Fans.

Although, messages could be restricted to those invoved with their group of close friends. Customers can easily send and receive tweets utilizing the Twitter site, Short Message Service (SMS) or external applications. The system cost nothing while using the world wide web, but based on your current circle SMS announcements may incur fees.

Tweeter was given birth to in '06 by Jack Dorsey, since then it is now very well liked throughout the world. It truly is occasionally described as the "SMS of Online world," because of the fact that one can send out and also get quick announcements utilizing a number of web based systems. 

How many of us implement Twitter? 

It is not that simple to find out the number of individuals utilising the Twitter service as they do not release how many lively accounts they have got for level of privacy good reasons. In 08, Jeremiah Owyang of Forrester Research stated that Twitter had as many as 5 million clients.

In 09 Compete.com positioned Twitter as the third most applied online community, Facebook, MySpace and after that Twitter. Furthermore , it place the number of special month-to-month visitors at about 6 million as well as the number of visits in most cases at fifty-five million. Numerous world-wide-web analytical internet sites have, called Twitter the quickest expanding site on-line. 

Things to consider related to Twitter:

Keep to mind that Twitter does collect your person details as well as reveal this by using finally parties. Basically Twitter considers your data an asset, and there terms state that they book the authority to market it in the event the organization changes hands. 

There are usually a number of Twitter-type services readily available, like sending text messages to several people at any given time. Other services provide Twitter-type capabilities, however only in a sealed circle for businesses, nonprofits, educational institutions, and other organizations. It's approximated that there were possibly one hundred and eleven Twitter-type websites. 

Twitter Basics For internet Marketer - Because of the shear size of Twitter users there may be naturally a potential Twitter sale every now and then, some users have actually made thousands recommending things to their own Followers.

Author Resource:  Lean a lot more about Twitter Basics For internet Marketer and initiate using certainly one of the most powerful social websites

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Euro slumps to a two-year low

In a hard-hitting report on the dire state of the economy, the European Commission called for drastic action to prevent catastrophe tearing the region apart.


The single currency crashed to its lowest level for nearly two years last night as Brussels warned that the eurozone faces ‘financial disintegration’.

It proposed that money set aside for keeping debt-ridden governments afloat should now be used to rescue troubled European banks.

Read more:Daily Mail

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Are you being paid well?

Employers and employees never seem to be at ease with each other. While organizations make fortunes due to hard work put in by the employees, the employers still want them to do more, and more and still more so employers could buy new coffers to stuff in the profits.

On the other hand, the employees lament of long work hours, lesser facilities, non-stop work hours and absence of good words from their employers for earning profits for them. 

it seems no one is happy - perhaps the do more notion has crept into everyone's mindset so hard that no matter how much hard work is put in by the workers, it fails to satisfy the employers.

However trends are changing for good. As per the survey below carried out by PayScale.com, a postive trend seems to be setting in and employers seem to be realising the plight of their workers and may provide them relief. As per the survey carried out, almost all employers seemed to be willing to provide compensation and relief to their employees.

If we go by the survey below, we see 2012 as a welcome year for the employees and a true gift to them by their employers:

Infographic shared from Mashable

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The Mercedes S350 Diesel - Possibly the Perfect Car (Especially For A Banker)

For decades, the Mercedes S-Class has been the standard by which all other luxury cars are judged.

Mercedes S350 Diesel

The S-Class has always been a technical wunderkind; a test-bed for the latest and greatest automotive technology that Mercedes has to offer.

The current model has everything from massaging seats to lane departure warnings and voice commands to a night vision camera. Yes, you read that right, the car has a night vision camera.

This generation of S-Class is due to be replaced for the 2014 model year. But thankfully, Mercedes finally brought the best version of the car to America.

The S350 BlueTEC is the first diesel fueled S-Class to be offered in the USA in ages. We think it is absolutely magnificent. This is easily the most expensive car we have had the privilege of parking in the BI Garage. And if you need to take a client to dinner, drive the kids to boarding school, or want to be a chauffeur in your spare time, there is nothing better.

Read more: Business Insider

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5 Big Reasons CEOs Should Get Social

CEOs are special people - they have to make decisions to run their organizations and remain competitive in the market. 

They can only do so if they are moving, knowing, finding, asking, looking, .... and social. Unless they are social, they cannot succeed because it is the degree of their sociability that makes them make contacts and people more.

Did you ever try to know:

Why Richard Branson Always Makes Time for Social Media

Why Evernote Bet the Company on Mobile & Social Media

How Jetsetter’s CEO Keeps the Travel Conversation Flowing With Social Media

How Kiva.org’s CEO Uses Social Media to Spark a Dialogue of Change

How Social Media Helped Kate Spade Become a Global Brand 

Well to be honest, I didn't know either till I read the post at Mashable - do read the post in full including the special Infographic's view of a future CEO - it will make you more social and competitive in business as a consequence.   

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Sovereign bonds selling by Western Banks may worsen debt crisis

Full Story: Bloomberg Businessweek 8 November 2011

Bloomberg Businessweek reports: BNP Paribas SA and Commerzbank AG are unloading sovereign bonds at a loss, leading European lenders in a government-debt flight that threatens to exacerbate the region’s crisis.

BNP Paribas, France’s biggest bank, booked a loss of 812 million euros ($1 billion) in the past four months from reducing its holdings of European sovereign debt, while Commerzbank took losses as it cut its Greek, Irish, Italian, Portuguese and Spanish bonds by 22 percent to 13 billion euros this year, the report added

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Coke Going White for the Love of Polar Bears

Full Story: Brand Channel

This may come as a surprise to many, but Coke has decided to go WHITE - for the love of Polar Bears. By going white in the coming holiday season, the Coca Cola intends drawing people's attention to the plight of the polar bears. The campaign will involve turning 1.4 billion coke cans white,  that the company and WWF say will raise more awareness and cash in the effort to protect the polar bears’ habitat.

The regular bottles will also have white bottle crowns from November till February. It may be added here that in its 125 years history of bottling, Coca Cola has never changed its colour. This gesture in collaboration with the WWF is a step towards motivating other brand names to follow the suit to help conserve environment and endangered species.

The Full Story is  a must read and videos to watch for everyone in love with environment

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Business Management Skills - How to become a (good) Manager

Talking of business management skills, a good manager is not made without proper training. I came across the following useful video on tips to become a (good) manager.

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10 all-times Business Quotes

• If the opportunity doesn't knock, BUILD a door. Milton Berle
• It doesn't matter how many times you fail.  It doesn't matter how many times you almost get it right.  No one is going to know or care about your failures, and neither should you.  All you have to do is learn from them and those around you because... All that matters in business is that you get it right once.  Then everyone can tell you how lucky you are.  Mark Cuban
• A business that makes nothing but money is a poor business.  Henry Ford
• An economist is an expert who will know tomorrow why the things he predicted yesterday didn't happen today. Laurence J. Peter
• In the past a leader was a boss. Today’s leaders must be partners with their people... they no longer can lead solely based on positional power. Ken Blanchard

• Business, that's easily defined - its other people's money. Peter Drucker 
• Money is human kind's greatest invention. Money doesn't discriminate. Money doesn't care whether a person is poor, whether a person comes from a good family, or what his skin colour is. Anybody can make money. Takafumi Horie
• For all of its faults, it gives most hardworking people a chance to improve themselves economically, even as the deck is stacked in favour of the privileged few.  Here are the choices most of us face in such a system:  Get bitter or get busy.  Bill O'Reilly
• When defeat comes, accept it as a signal that your plans are not sound, rebuild those plans, and set sail once more toward your coveted goal. Napoleon Hill
• My job is a job to make decisions. I'm a decision... if the job description were what you do. It’s decision maker. George Bushism

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