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A project management system refers to a set-up including a variety of software needed to deal with complex and big projects. These included software within the project managements systems are estimation & planning, cost control & budget management, scheduling, collaboration software, resource allocation, community management, documentation of the administration systems and quality management. The article here brings in a considerable discussion on the tasks and benefits of project management systems.
Scheduling is one of the most prominent tasks of project management systems. The software has to schedule a set of tasks or events like:
The project management software is expected to support effective information to varied people and stakeholders & could be utilized to gauge & justify the scale of effort necessary to fulfill the projects. The typical requirements from the software are:
It’s necessary to mention that there are a wide range of versions available for the project management system in varied cost ranges. There are programs tailored for the small businesses and some are customized to take care of the bigger corporations.
Production and operations management are vital for running a business effectively. It’s not a new concept and dates back to the late 18th century. The production & operations management can be defined as a process that combines & transforms varied resources utilized in production-operation sub-system in organization into some value added services or products in controlled manner according to organization policies. To be precise- the series of interconnected management activities involved in the manufacturing of the company products is termed as the production management system & when this same concept gets extended to the service management sector then these management strategies come under operations management.
Here is a short discussion on the objectives of production & operations management.
It has to be cleared that the product quality of an organization would be determined on the basis of its target’s (potential customer’s) needs. Hence, the right quality here won’t necessarily refer to optimum quality. In fact, the product quality (to be followed under production management of an organization) would be determined by that product’s cost & technical features of the product according to specific customer requirements.
A business house should come up with the right quantity or amount of product as required by the customer base and their demands. The right production management would ensure no excess in production which might suck up a great part of unnecessary capital and no shortage of production as well as this would dissatisfy customer base.
Another objective of production and operations management is to maintain punctuality to deadlines with timely delivery. The company’s production division has to plan up optimal utilization or resources and manpower and assure a proper channelization of these in order so that the company can come up with a timely delivery of its services.
The manufacturing rate of a product is actually pre-determined and the work of production and operation management is to see that the company uses every means possible to manufacture the product at that stipulated cost, assuring a steady maintenance of the company budget.
Thus, from the above discussion it seems that optimum customer satisfaction is the underlying objective of the production and operating management system since the prospect of the company is largely dependent on the opinion of the customers towards their products and nature of service.Read More
Changes are needed in business to survive with changing times and to keep in tune with the current competition. The change could be applicable anywhere in the business- it could imply a change in location, hiring of a new set of employees, taking up a new service responsibility, or a total transformation in the company’s production process, marketing tactics or packaging works as well. Change is inevitable but a sudden change would always create unrest and issues in the organization- here comes the significance of management of change in business which ensures a smooth execution of the proposed “changes” in the business. The article here gives a short idea on the prospective strategies on change management in business.
A proper planning is a must before going on with the proposed changes in the business. Before executing the change, you have to study the market, consumer base and estimate the in-house resources and manpower as well to understand the prospects and risks of implementing the “change” in the firm. Many of the companies fail after introducing changes in their business procedure given their lack of prior planning and the foresight to fathom the threats.
Your employees are the principle manpower behind executing the change in the business. Hence always make sure to inform them beforehand about the “changes” you have decided to bring on this time. Changes would invariably create people’s issues – if you are really positive about the proposed changes and feel these would be beneficial for the employees as well- be patient, listen to them and then discuss the reasons behind the decided transformations about to take place in your business. Instill beliefs in your employees about the positive side effects of the changes and motivate them towards the new transformation getting them the needed fillip to embrace the “change” with open arms.
The change management in business also advises to stay honest to the employees about the implications of change. Never exaggerate about the benefits of the proposed transformation and always make them aware of the potential risks. It’s because in case they are given false hopes, they might break into a serious unrest after the transformation which might bring about a complete shut down for your business.Read More
The online business world displays a fierce and cut-throat competition. There are your competitors, ex-employees, dissatisfied customers or shareholders who are always trying to malign your brand name over the internet putting your online reputation at high risk. The social media networks work as wonderful tool for brand promotion yet they can also work as a prime platform demean your online reputation as well along with the different news sites, sites for consumers activities, forums & so on. However, online reputation risk is manageable with effective strategies which are described here.
Social media sites like Twitter or Facebook are prime platforms for managing online reputation risk of web businesses. Thus, you have to come up with an effective social networking policy regarding maintaining communications in the social media – build up a special team with directors and employees and train them in the conduct codes and activities to carry out activities while particularly dealing with the social media. Be clear about the company information to be posted on the social media sites and the posts should be approved by someone beforehand who is knowledgeable on the disclosure obligations under the federal security regulations. This would ensure that you are clear on the legal aspect.
Always remember, to maintain a healthy business reputation online, you have to maintain integrity and honesty in the firm itself. Consult with compliance, legal colleagues the senior management and board as well to develop a “compliance culture” inside your firm. Make sure to follow to maintain integrity in your service and emphasize the same within your employees. Be truthful and committed to your customers which would discourage negative customer comments and enhance your brand reputation to a great extent. The firm should be caring towards the employees as well as the staff – unrest is one of the major causes of online reputation risks. Then, you should also be watchful about the rogue employees in your company and once you find out, never delay with the necessary penalties.
You must be vigilant on your brand performance on the social media sites. Study the traffic nature to your page & page reviews as well and in case of any negative risk indication, consult with your marketing team immediately for investigating the situation and negating the risks.Read More
In an organization when people come together to achieve a certain goal with efficient use of resources and good team work the whole process is known as business management. In any business, management is very important. While studying business management you will come across a term called PODSCORB. This is nothing but the initial letters of the management process which are planning, organizing, directing, staffing, controlling, resourcing and budgeting.
What Are The Types Of Business Management In The 21st Century?
Towards the end of the 20th century and the beginning of the 21st, business management was divided into six different categories. They are as follows:
In the 21st century business management has become a difficult task for the business owners and that is the main reason why they are not being able to categorize their work. For that people are getting appointed to help them out. Business management not only helps the business but also the government and the nonprofit seeking organizations too, whether it is in the social sector or the educational sector. That is why most educational institutions have started giving this education to children from the higher secondary level. The work of business management is not that easy and if you are thinking of taking it up as your career then you must prepare for tougher times ahead.
Many people have confused business management with business administration but they are totally different things. If you study the history of business management and business administration then you will understand that management is a wider concept whereas administration can be said to be a part of business management. With the growing interest among youngsters this subject has become popular in the last decade and there are various business schools who are offering to teach students this subject. If you check the list then you will see that Harvard Business School tops the list among all the business schools and the other one which is giving tough competition is the Yale School of Management.Read More
If you’re a small business owner, managing the financial affairs of your business can seem like a daunting task—and it’s one that far too many people muddle through rather than seek help. Now, there’s a tool-packed guide designed to help you manage your finances and run your business successfully!
Small Business Financial Management Kit For Dummies explains step by step how to handle all your financial affairs, from preparing financial statements and managing cash flow to streamlining the accounting process, requesting bank loans, increasing profits, and much more. The bonus CD-ROM features handy reproducible forms, checklists, and templates—from a monthly expense summary to a cash flow statement—and provides how-to guidance that removes the guesswork in using each tool. You’ll discover how to:
Complete with ten rules for small business survival and a financial glossary, Small Business Financial Management Kit For Dummies is the fun and easy way® to get your finances in order, perk up your profits, and thrive long term!
Note: The Kindle edition of this book does not include any CDs or DVDs.
26 of 27 people found the following review helpful
Covers the basics well,
This is a great book for anyone who’s thinking about starting their own business. It covers the financial management aspect of business.
The lessons are all foundational. Every one needs to build their business on some core foundations and this book provides them.
The financial tools like cashflow, income statements and balance sheets are all covered and explained in simple English. Examples are also provided to help follow along. The tables in the examples are also available on the disc provided, easily modifiable to suit your own business.
Some readers might not like dummies book because they lack depth. This is not the case with this book. Also, if you want to learn more on certain aspect, e.g. accounting, you can always get more specialized book. The point of this book is to give readers the essentials they need to know.
This is a valuable book at an affordable price.
Here’s the list of contents:
(Check out my Amazon profile for other books I’ve reviewed.)
22 of 23 people found the following review helpful
Great info but not for dummies,
I’ve tried reading this book several times and can only get to chapter 3 without getting completely confused. It is NOT written from the perspective of a new small business owner that has no experience with finances. The examples used are from large company perspectives and the terminology is confusing. I am a college graduate and have worked with finances of a large company as well as my own personal finances so I’m not a financial dummy. It even discusses how “your hired book keeper should be providing you with profit/loss reports on a monthly basis so you can make sure your company is on the right track”. Most start up companies owners do their own book keeping so it should show the owner how to do the book keeping in the first place (and what off the shelf products are good for doing that) before assuming they have hired help for that yet.
It does have an index for the terminology and it does have a lot of examples – just really hard to understand how it relates to a start up business with much less than what they show in the examples.
1 of 1 people found the following review helpful
This book for dummies is very helpful.I learned alot about running my small business that i did not know..Thanks alot.
Leverage your company‘s mostimportant asset! “Diermeier draws on extensive research and illustrates these insights with rich case studiesfrom a variety of industries. He shows how to integrate reputation management deeply intothe culture and structure of companies. I expect Reputation Rules to set the standard foryears to come.“ —Philip Kotler, S.C. Johnson & Son Distinguished Professor of International Marketing,Kellogg School of Management, Northwestern University “ Reputation Rules [provides a] sixth sense‘ for both reputational risks and opportunities.I highly recommend the book.“ —Samuel Allen, Chairman and Chief Executive Officer, Deere & Company “Diermeier provides important insights for managing reputation and turning challenges intoopportunities. The lessons will become an essential component of a manager‘s repertoire.“ —David Baron, David S. and Ann M. Barlow Professor of Political Economy and Strategy,Emeritus, Stanford Graduate School of Business “ Reputation Rules breaks new ground in what has until now been an elusive challenge forcompanies and consultants alike. An exquisite compendium of navigational tools. . . . This isa game-changing book to be sure.“ —Harlan A. Loeb, Executive Vice President, Director of U.S. Crisisand Issues Management, Edelman “Daniel Diermeier has continuously caught the attention of the business world with insightfuland compelling facts that should once again challenge our thinking and actions. In today‘sfast-changing business environment, values and reputation are the foundation, and Danielpresents sound reasoning and experience as to why they are so important.“ —Jeff Stratton,
2 of 2 people found the following review helpful
A Master’s Course in Reputation Management,
This review is from: Reputation Rules: Strategies for Building Your Company Read More
Completely updated and revised, this eleventh edition arms managers with the business tools they’ll need to succeed. The text presents managerial concepts and theory related to the fundamentals of planning, leading, organising, and controlling with a strong emphasis on application. It offers new information on the changing nature of communication through technology. Focus is also placed on ethics to reflect the importance of this topic, especially with the current economic situation. This includes all new ethics boxes throughout the chapters. An updated discussion on the numerous legal law changes over the last few years is included as well. Managers will be able to think critically and make sound decisions using this text because the concepts are backed by many applications, exercises, and cases.
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Human Resource Management in a Business Context 3rd 3E Price Softcover Int'l Ed.
Running a small business can be daunting to the builder whose expertise is in the hands on work — not finance or law. This book, written by a builder who came up through the trades himself — and who for decades has run a highly respected and successful construction operation that does both remodeling and new construction — helps to demystify the day-to-day challenges that contractors face. Running a Successful Construction Company is acknowledged as the leading book in its field. Includes 50 color photos and drawings.
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