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Do You Want To Fulfill Your Dream ??!!

Do You Want To Fulfill Your Dream
Do You Want To Fulfill Your Dream ??!!

Do You Want To Fulfill Your Dream ??!!

Hey dreamers out there welcome to the world of business and lac, there are long roads to take to become any of those two choices but to gain them you have to tie them together they both have this relationship that is unbreakable so don’t try either alone. Always set your goals and properties first to reach the best outcome at the end. So your probably wondering how would you do that well that simple first you need to know what an entrepreneur is and does that’s what you I’m here to clarify for you….

An entrepreneur is simple words is the man of the hour is one who creates a new business plan in facing the risk of both profit and growth by identifying opportunities and putting it all together nicely in one big enclosed business, how did these so called entrepreneur become like this it because first they studied at a business school and managed to get themselves a business degree in order to be implementing and formulating business plans.

Do You Want To Fulfill Your Dream ??!!
Usually all entrepreneurs have this way of talking some people call it there theme but I see it as there style, it includes uniqueness, class, demand, persistence,innovation, and growth. Even at the time of trouble they have to be calm and have strength to make more solutions than disaster. There main characteristics are put into consideration of course such as there desire for responsibility, preference of moderate risk, being confident, high level of energy, or their value achievement of feedback and money. These are the rules to being in business and having that dream you always longed for.

But be careful as much as it all seems nice there are some down falls if you mess up I call it the NINE DEADLY MISTAKE RULE – “STAY AWAY”

Do You Want To Fulfill Your Dream ??!!

#1 Management Incompetence ( the most important thing is your managerial skills and knowledge don’t ever let them doubt you make your goal and set your plan in action)
#2 Poor Financial Control ( if you know that you can’t handle a business that requires loads of money make a smaller version and be prepared for all kinds of financial interruptions)
#3 Failure to Develop Strategic plan ( before you have an idea think of the plan and analyze it from different perspectives don’t hold back on your imagination)
#4 Uncontrolled Growth ( if a problem appears and you feel like it is all going down the drain remind yourself you have to rise above the situation make a back up plan and implement it)

Do You Want To Fulfill Your Dream ??!!

#5 Lack Of Experience ( always start small before going big, so you would understand how the game is played correctly, if you don’t want to turn out the one being played)
#6 Poor Location ( location is a must if your in a good location no matter how small your business could be it still could provide a pretty good income for you )

Do You Want To Fulfill Your Dream ??!!

#7 Improper Inventory Control ( check your inventory daily because you have to keep that when your customers want something they want it now, you always have to have it in stock)
#8 Incorrect Pricing ( before you start check out the people selling around you the same products you are or substitutes to yours in order to make the right price decision you don’t want to be too expensive to drive people away)
#9 Inability to make the “entrepreneurial transition” ( meaning if your not sure that you could handle the pressures of being an entrepreneur then turn it into a small business till your ready to climb that ladder )

Do You Want To Fulfill Your Dream ??!!

That about explains everything you need to know about being a high class entrepreneur just listen if it never works out big go small till your sure so you wont waste alot of time and energy into something not worth the time.

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.

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…

Beginning

– 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.

This is what they didn’t tell you about HRM

This is what they didn't tell you about HRM

Tips On Human Resource Management

To all those out there that would like to understand what Human Resources is all about, you should know first that it could be downsized to the simplest abbreviation “HR” although its tasks are so much bigger than its abbreviation, Today we will find out what exactly HR does for a firm….

Human Resource Management are the policies and procedures involved in carrying out aspects to manage positions in a firm such as recruiting, screening, training, rewarding, and appraising. All Firms with a well known reputation have an HR department such as Coca-Cola, Apple, and BMW. Each and everyone of those companies knows that having a good reputation starts with a good workforce and team work. Human Resource Management is divided up into several jobs :

Sector A) Well trusted employees for conducting job analysis meaning to determine the nature of employees job.

Sector B) An employee needed for planning labor needed and shortage in staff as well as recruiting job candidates.

Sector C) A good staff to spread the word for open job candidates

Sector D) Well trained staff team to train and orient new employees

Sector E) Hard core employees that work to budget the company, maintain wages and salaries, as well as compensate employees

Sector F) Manager going to retire and has great experience to develop and train new managers to manage all the above

Sector G) All human resource staff building employee commitment to build a sort of culture in the firm.

All these jobs line up to give one result in the end Success…., but they don’t just line up to achieve success they also work on the three major functions of human resource management. As any HR staff member would say “In doing the Job you must succeed, and to succeed you must follow job functions to reach the goal” The functions that help lead to the success of these companies and yours as well if you follow these three easy functions and putting them together with different job sectors :

Line Function is the most important function of all its where HR managers Direct HR activities in their own department, their tasks are to line authority and imply authority this function would tie best with Sectors (F),(G), (B), (A), and (D).

Coordinative Function is the second most important its where all HR managers coordinate HR activities, their tasks are to function all activities this function would best tie with sectors (C), and (F)

Staff Function is the third and last function its also as important as the first two its ties all the functions and jobs together, its where HR managers advise and assist , manager in other organizations, their tasks are to take hold of staff authority, innovate them, and produce employee advocacy, this would best tie with Sectors (G),(E), (D), (F), and (B).

Well that’s about the easiest guide made just for you, so take out a piece of paper and a pen right now and start jotting down all the mistakes you see in your firm and start by making of checklist of the staff you already have see what you need to change and what can be improved. This is a great and simple guide to get you started on a new and more improved road.

Good Luck

The Signs That Lead To Change

The Signs That Lead To Change

The Signs That Lead To Change

Do you ever get this feeling like you have a hunch on something and you want to explore more of it to make sure that your following the right track, or your just trying to figure out where it will take you sort of investigate, well the number one aspect to check out is how deep your understanding of the firm’s incentives. What are incentives you ask they play the most important role in your business/firm because they answer two main questions:

– how resources are utilized
– how hard individuals work

If you construct proper incentives that will help you enhance productivity and profitability, because its your firm’s base which should be done properly with the best managerial help. This usually provides profit signals it helps managers make a forecast for themselves, that if your product is expensive then it should fall in the highly valued society category which could help more and more industries start flowing in to that society.

As a manager who directs resources and designs incentive schemes you should be aware that there are many types of different profits such as Accounting profit it is considered the explicit cost of resources needed to produce goods and services which is the difference between sales and product cost which are always reported in the firm’s income statement,Economic profit which is the difference between revenues and opportunity cost, and by common sense opportunity cost is the cost of implicit and explicit resources that are foregone when a decision is made.

Managers have a very hard time drawing up economical perspectives such making goals depending on the countries economic status by trying to figure out what is available and what isn’t which is so confusing that’s where the science of managerial economics comes in, to be good at such a field you have so many preparations to make because managerial economics in brief is the study of how managers can achieve goals under a given set of constraints.

The majority of managerial positions is they always make the same mistake they look at the worldwide forecast hoping to change something in there strategy to fit with that when they could just make simple identifications of goals and constraints, to the types of decisions made in economics are sound decision meaning based on what you hear to decide upon what to maximize and minimize which always leads to making the right decisions, the other type is strive decision based upon ambition and willingness to achieve a goal , even when facing measure scarcity constraints.

Put in mind that Economics is used in every little inch in our lives and that you should try and tie with all the things you know because a business is nothing without a manger and definitely managerial economics.