Management - business degree

Category Archives: Management

What Comes to Mind when You Hear….

What Comes to Mind when You Hear....

What Comes to Mind when You Hear….

I’m here to ask you this time around I’m tired of answering and i have a few questions that i would like an answer to: As a business owner you consistently have to keep asking yourself a billion questions over and over again, its endless chain because the world around you isn’t stable, what are some factors that could cause you to be confused all the time?, why don’t you just stick to one plan instead a million?, who out there has to deal with all the changes you deal with, how do your customers feel, or where does your mind take you when you here Operations Management?

well while you answer in your own way i have a theory as well, The factors that change around us aren’t limited they can include products, services, consumers, time value of money, or competitors etc.. sticking to one plan means you’ll never flourish to get that opportunity of a life time to rise with the market but instead you’ll find yourself in debt after a while…your consumers make the change for you people dealing with it are like me and you business owners or just competitors…your customers will always have a specific vision in their heads that you might not be able to achieve but that’s okay because they always have a backup image the one that you make for them with a price to fit their needs.. thinking of operations management i know i put my foot into a big pile of products and service adjustment and changes.

So what is the solution you ask its simple, read about operations management and be careful with every stage because they all complete each other like a sort of cycle that turns round and round, Operations Management is the part of your organization that is responsible for producing goods and services, it also traces feedback from consumers to see the level of satisfaction they are at, so they can improve quality and cost. There are Three main steps for operational management Design, Operation, and Improvement of productive system…

Design is the number one aspect in a products feature, along with packaging there the first impression for the product if the wrapper of a candy has two people killing each other on it would you rather buy that or buy a regular candy bar with a shiny package, for me i would go with the second one maybe many people may not agree with me on that but almost 95% of the population would, its described as the plan to reach the consumers hearts and the firms goals.

Operations as the second step it falls after design placing number two on your to do list, the operations here refer to the management of the product phases from top to bottom are also referring to the look out for competitors and it doesn’t stop there be aware of the time value of money along with comparison to you competitors try to always be the middle price.
For example: lets say there is a coffee maker at store x for 10 dollars and at store y its for 11 dollars then you fall in between you sell yours for 10.5 dollars.

Improvement of Productive System the last and easiest step to do, here after all the hard work is done and your product is in the market you should look out for feedback actually you should go look for it yourself, after feedback from your consumer comes back you take that feedback put the good in a pile and the bad in another after sorting them out turn the good into excellent and then the bad into good, and that’s how the process keeps moving for each product you distribute.

For More information about Operations Management check in again I’ll be adding some more great information and advice.

The Number One Do On Your List

The Number One Do On Your List

The Number One Do On Your List

Each and every business has a do’s and don’t’s list which is like a journal where you write down all the things you want to do and see if they will work out for you in the environment your planning to be running your business in, to do so you have to make a chart but not any kind of chart: it should be the activity based chart this chart distributes the activities, management, and costs of the company. First step to apply this chart correctly take out your financials and start by making an activity based costing also called ABC chart this will help you :

a) Allocated the money in the right place.
b) It determines the cost to perform activities yet it doesn’t reduce cost or create more cost its all based on the financials you have for the project.
c) and Forms the basis for process improvement this leads to the second step

Second Step:

Activity based management this step is also called ABM it evaluates the cost and value of activities to identify opportunities for improvement, it identifies value added and non-value added activities and works on enhancing value added ones while reducing non-value added ones, usually to do that sufficiently make a list of all the departments you have and start thinking of each separately and asking yourself are they value adding or non-value adding. for example make a list like this:

Activity value adding non-value adding

Material handling yes no

HR department yes yes

Set-Up no yes

Packaging no no

now this a bit confusing if you get a double no or a double yes then that department is half good and half bad so what you have to do in that case is draw up all the problems you believe aren’t causing you to be satisfied with your department or product, and then try and figure solutions out. You could also hold a meeting and discuss all the things you don’t like with your staff and see if they have any ideas as well. After you make this list ask yourself a couple of really important questions like if i changed this activity would the consumer enjoy it?, does changing this activity help the organization reach its goals? always keep the questions coming because that will also help you realize any other weaknesses you might have in your firm.

In the ABM Step there are several functions it takes the liberty to perform as such,
– Make your activity analysis ( the list above)
-Identify your cost
-Identify opportunities for improvement (all discussed in the above paragraph)
-Identify the root cause of the problem dig so deep inside each activity you write down and don’t just cure the symptoms no you have to fix the problem and like i said earlier ask yourself as many questions as possible.
-Estimate the costs of fixing those problems and evaluate how much you have saved.
– Make the changes and evaluated the results if all works well repeat it all again for a different activity.

The Last and Third Step is how to implement both the first and second step together in one plan:

this step is called ABC/ABM implementation meaning putting your knowledge from step one into step two to get a better organizational culture, start looking at the firm from a deeper end and willing to provide change, it helps enlarge the firms communications and brings upon teamwork, as well as wrapping up the scope of your project into one chart starting with resources ending with goals.

This is a great method for businesses with trouble if you try it out and it doesn’t work then your firm is already well on its way but is just going under a bit of pressure which happens to the best of companies.

Pros and Cons of Business Life

Pros and Cons of Business Life

Pros and Cons of Business Life

Every little inch in our life and our bodies has its own pros and cons some are visible and some aren’t. But in the business world there are many mistakes that have been made by early entrepreneurs which we are learning from today, the motto they all follow is ” Management before Business” meaning the best way to get your business running is by creating a strong bottom block of managing, managers, and management skills.

Global Business Management has many branches but the most important and frequently used is Strategic Management because it binds together a set of managerial decisions with the actions taken to determine and achieve the long run performance of the corporation. This branch includes some important tasks to study the business environment very well, it scans the internal and external environment, formulates strategy and implements it, as well as evaluating and controlling the strategy results.

This cycle has to be undertaken in a specific technique meaning that you have to follow a sequence of four small phases in order to get the results you want:

1) Start by drawing up your financials all in a small black book where you will perform your basic financial planning process.

2) Then you forecast those financial draw ups that you made also in the form of a forecast-based plan.

3) Next you make your external planning chart to see the opportunities strategically from many different points of views such as location,size,financially, or demographics etc…

4) Finally combine the four tasks we mentioned earlier about strategic management to make the perfect strategy.

As successful as this maybe keep in mind that your strategy should be updated from time to time because like the time value of money changes so do consumer tastes , and market prices always be aware of those changes and continuously update your strategy so people won’t get bored and leave. This is called Strategic Flexibility where you shift from one strategy to another according to changes around you.

I can assure you that there are more benefits (pros) than risks (cons), some of the benefits that you’ll find from building up a continuous strategy are clearer vision for where your firm is headed, a great focus on what is important, acquiring understanding skills of the changing environment, improves organizational performance, ties between strategy and changing environment, and most important helps keep business balance in an unstable environment.

However the risks you could encounter are rapid climate changes in the environment such as litigation risk, reputational risk, product and technology risk, also you could face globalization impact where too much globalization isn’t healthy in changing environments.

Like I mentioned earlier the pros are greater than the cons if you start your business right then you won’t have to worry about a thing, you’ll be set the most important thing to keep in mind is if your bottom block is strong then anything that happens in the middle or at the top is fixable because the base holds it all.

You Failed Because They Made it Boring

You Failed Because They Made it Boring

You Failed Because They Made it Boring

When hearing something for the first time you get an impression, that impression is called the first impression meaning you either make it interesting and worthwhile or you just go home. First impressions apply for everything: people, job interviews, relationships, and advice. The advice I’m bringing your way today is not because you read an article that bored you or a professor that tortured you means that what they were saying wasn’t important but what was wrong about there presentation was there “first impression”.I want to give you a taste of my own first impression and i want you to be the judge if I’m the same as both the people i described earlier then I’ll stop offering advice and get help myself.

As you all know that being a business owner is a tough job and requires so much time and energy well by following a few easy steps you’ll be on your way to starting your business, every business is shaped like a pyramid needs building blocks and usually the strongest are at the bottom because they hold it all together, if your base is wrong then the whole business is wrong.

#1 Base is Organizational management, and I’m not going to lecture you by saying management is the process of coordinating work activities efficiently and effectively etc… what i want you to do is break down that definition into three important words you’ll be using through out your entire business career : process, efficiency, and effectively. Process is an on going function engaged by all employees especially managers, efficiency is using less to achieve more ( less input more output) , and effectively is attainment of your goal in the correct manner.

#2 Base Divide your organization into a pyramid chart your bottom base would be the Non-managerial employees such as Accountants,Human resources, Staff, Labor, Maintenance, Cleaners etc.. The second level base is for the First Line Managers those whom that manage the work of the non-managerial employees such as Head of Accounting department, Head of Human resource department etc…. The third level base is for the Middle Managers those whom manage the work of the First Line Managers usually there titles as regional managers, project leaders,or division managers etc… The fourth level base and the last are the Top Managers those who are responsible for making the organizations wide decisions and the establishment of the goals and plans that affect the organization as a whole, such as CEO, COO, President, Chairperson , or Executive President.

Those are the first to bases to business success without getting bored a guide you can implement in ten minutes hassle free, don’t waste your time with those big words just get straight to the point and start your business right today.

Why Does Your Plan always fail

Why Does Your Plan always fail

Why Does Your Plan always fail ….

Because you didn’t use logistics and supply chain management as your guide to building a new upcoming business idea, they always say that the ancients like our Greek ancestors would always have a solution to business build ups. Sort of how they built there ancient history as everyone agrees Greek history is very tempting in its own way that they there were they first to develop the term logistics meaning speech, reason,and rationality. The word logistics is actually derived from the Greek word ” Logistiki” meaning accounting and financial organization. Just like they say the ancestors said it all…paying attention to this would help you realize that logistics is the study of how to build your financial and accounting organization rationally and reasonably in the chosen manner of speech.

In Business School of which I am a graduate I had to take all these subjects that made no sense, but in my semester before last i had a professor who taught me the class of which i acquired my Logistical skills and supply chain management, he said – ” one of the most famous and well known companies today have become this was because they put some order in there building strategy and this subject is the strategy they used” he gave an example on “Lays” – the chips company- its original strategy was to go with the flow of the market but logistics made it clear that it is the task of managing and coordinating both key flows of material flow and information flow. The Logistical use in large firms is to describe the science of movement, supplying, and maintenance of tasks at hand, it provides a sense of order in a way.

Logistics has many different functions and support operations to tie the knot and make it one big block to hold the building from falling down, the major functions of logistics are set out into a plan form as such, which has a beginning and an end like a story. here’s our time line…


– It takes the responsibility for managing the movement and storage of materials from original supplier to final customer. ( the steps of the product supply chain)

– It provides satisfaction to consumers by managing the data from end-customers back to supplier ( feedback)

– It helps supply feedback from supplier to retailers so that products could be accurately planned and controlled. ( product improvement)

this is where the cycle ends and repeats itself all over again

The End

After this chain is completed there is one last guide to complete the first step of logistical planning, make a chart of your support operations and they should almost always include:

– Your organization should deliver products to customers

– Classify these products into goods and services

– Then manufacture them like Sony, Lays , and Ford provide tangible products but you could all be like BBC and AT&T and provide intangible services (communications).

all these support operations should be made in a form of a chart after doing so you should apply your logistical functions that we talked about earlier to wrap it all up.

Hope this helps you realize the first block to be building in your business.