Month: March 2019

With majority of the students becoming conscious towards their careers, there is an increase in demand of professional courses. But the most popular course among the students in today’s society is the MBA (Masters of Business Administration) as it opens many opportunities for them. Following the economic development of the country the demand of MBA professionals is increasing every day. Because of which a large number of colleges offering this course have come up in India, Which contains some of the best MBA colleges in the world?

Among these colleges the Indian Institutes of Management (IIMs) stands at the top of the list. There are total 8 IIMs across India and they are situated at – Calcutta, Indore, Ahmadabad, Bangalore, Kozhikode, Luck now, Shilling and Ranchi. Students have to score high marks int he Common Admission Test (CAT), in order to get an admission in IIM which also includes group discussion and a personal interview by the faculty of the institute.

Besides IIMs is the Indian School of Business (ISB), Hyderabad, which was established on December 2, 1999. This institute contains a faculty from the best management institutes of the world which includes Wharton, London Business School, Stanford, etc.

Then comes the Jamnalal Bajaj Institute of Management Studies (JBIMS), Mumbai. It was founded in 1965 and grabbed a prominent place among the top business schools in the Asia – Pacific.

The XLRI is also among the top most MBA colleges for Management Studies. XLRI is an abbreviation of Xavier Labour Research Institute situated at Jamshedpur. It was founded in 1949 and has been growing gradually throughout its existence.

Some other top Business Schools of India are – Faculty of Management Studies (FMS), Delhi, Indian Institute of Foreign Trade (IIFT), Symbiosis Institute of Business Management, Loyola Institute of Business Administration (LIBA), Nirma Institute of Management, Indira Institute of Management (IIMP), Pune, SIES College of Management Studies (SIESCOMS), Institute of Financial Management and Research (IFMR), etc.

The reason behind opting for a top – ranked MBA college is that, pursuing MBA from these colleges guarantees a good pay package depending on the reputation and dependability of the respected college. Hence the growth of the students in the corporate world becomes swift. The IIMs are always known for grabbing the best salary offers for their students all over the country. According to the placements records of 2010, their is an increase of 25 percent in the salary of students from such top MBA colleges

Small businesses often face a multitude of day to day problems and one of them is having difficulty in streamlining business procedures to maximise their potential. Without procedures and processes that are streamlined a small business owner can find that a disproportionate amount of time is wasted each day. Whilst this can sometimes be through no fault of a particular individual it is still time during the working day that is lost and can never be retrieved.

In order to streamline a business and its processes and procedures it is wise to look into small business management software. With small business management software it is possible to run most aspects of a business through one single software application. Not only does this provide a single interface for employees and business owners to perform work tasks through, it also helps to cut down on the amount of time spent switching between various applications.

Small businesses that opt to use small business management software soon see the benefits of doing so in terms of increased productivity and lowered inefficiency. Both of these combined can make a real difference to a small businesss bottom line, something that all business owners and managers are all concerned about.

Integrating small business management software into a business is also very straightforward, which means that managers will not have to face loosing too many working hours as their staff learn to use it. In fact as soon as you have been set up with a password and ID it is possible to be up and running with small business management software in a matter of minutes. Obviously users of this type of software will learn more about how to get the most out of it as they are using it and develop their own style.

Streamlining a small business means that all employees will be using the same efficient means of completing work related tasks and so on. By only using one application to create and save customer contacts, create work rotas, assign individual tasks, create quotes and invoices and much more a great deal of time is saved.

Traditionally, these tasks would have been completed through separate applications which meant waiting for each one to open every day and then having to swap between them during the working day. Over time this can lead to poor working practises and even lost documentation which has to be avoided at all costs. In fact by only using one application it can enable a business to refine their processes to such an extent that there is little room left for error.

Any small business owner or manager who wants to create a more positive working environment and increase productivity in a very short space of time should look towards small business management software. It is the practical and simplistic way to streamline a business and increase revenue. So rather than trying to change internal processes and retain the same software choose small business management software and you will soon see the results.

In today’s fast paced business world organisational change is becoming a consistent challenge. The reality is that change will always be here as it is a part of life. There is nothing that you can do to stop it. Many people and organisations try their best to avoid it or deny it but, eventually they will have to face it sooner or later.

Denying change can be very costly for an organisation as it can mean that your competitors can get a head of you and leave you behind. There is the temptation for managers to protect their staff from change knowing that it can affect them. However, putting off the inevitable can make the situation worse.

Effective managers understand that trying to fight and resist change is a waste of time, energy and resources. Effective managers embrace change and use it to the advantage of their staff and the organisation as a whole.

To be better prepared for change you need to be aware and understand the 4 common responses to change as follows:

Denial

The natural human response to change is denial because it is the most convenient and least painful response. When new proposals for change are put forward there instant reaction is to say that it will not work and it is a complete waste of time. Why fix a thing when it is not broken. People can blinker change out and pretend that it is not happening. This blinkered outlook is a classic denial response.

Resistance

When change becomes more of a reality than just an idea people’s responses will move from one of denial to resistance. This is also a natural human reaction to change and is nothing to be alarmed about. The key thing at the resistance stage is not to allow it to become deep seated. As a manager you must work with your staff to ensure the resistance is short lived.

Realisation

To move people towards acceptance it is important to communicate to staff of the benefits that will come with change. Also, emphasize that not changing will create risk and uncertainty in the future. Other things to point out is that the change maybe painful at the start however, in the long term it will make their jobs easier and more productive. At this stage people begin to realise the need for change.

Acceptance

The last phase is the acceptance of change. At this point you, your staff and the organisation have seen the light and have embraced the concept of change.

The web is an incredible goldmine of millions of data on just about any topic that one can imagine, including stock prices at financial websites, list of best college at academic websites, casts of films at movie websites, makes and models of cars at vehicle websites, and much more. Online databases are the backbone of virtually every website these days. If you want your website to keep track of data such as user profiles, purchasing transactions, or other information worth storing, you need to add a database. Using an online database makes updating and maintaining a website more efficient and user-friendly. These types of databases allow you to look up various types of information from zip codes to whether a person has a license to do a particular type of work. The databases can be searched according to different criteria, and they usually list the search results according to how well they match your search.

It’s true that dynamic websites have considerable advantages over static sites that do not use databases, and they are ideally suited to many sites, including those marketing or selling products. That’s why all but the smallest dynamic websites these days use website databases to organize their content. Many popular websites including registration, user forums, technical support and retail store fronts are built using web database software. Web database program provide security, authentication, data processing, data storage and the ability to update web page content dynamically. Today, there are many software tools available to build website database applications using a variety of programming languages. There are also many tools available that generate website database applications without requiring specific programming knowledge.

Website databases are available in a variety of formats and today, these can be downloaded as per requisite. Various online software companies offer numbers of software with extensive functionality. The guidelines to use these software are being provided by the software companies not through handy manuals but through their own website. But prior to choose the best web database software you should do a thorough research about it, for getting right information about the exact specifications of the software.

All businesses face risks and challenges and without these, companies will not strive to do better. With these risks, there is a need for business managers to come up with a tool or a system that will aid them in predicting what will most likely happen in the future in relation to the risks that might be encountered. Now, we can use the key risk indicators which act as warning signals for the organization. They provide useful information regarding the changes in the business that might bring danger into the firm. The KRI system is particularly helpful in operational management because most of the time the risks occur during operations. There can be accidents, injuries, even deaths as well as production delays and equipment failure. Before something goes wrong, it is important that you detect the factors that might cause the business to break down.

When setting up your KRI system, it is important that you think of the indicators as predictive KRIs. This is because they will be the ones that will tell you the potential threats which could easily become perilous in the company. Before you begin building your key risk indicators, take note that there are four different categories of such. The first one is the coincident indicators, which are considered as proxy measures that can include metrics about internal error and near misses. The second one is the causal indicator, which is all about the root causes of the events which may produce threats in the company. These many be system down time and percentage of tardy purchase orders.

The third category of key risk indicators is the control effectiveness indicator which will provide the company with continuous monitoring when it comes to the performance of operations and controls. The metrics that can be used here are percentage of the supplier base that uses data transfer encryption and the cash spent on non-approved suppliers. The last classification is the volume indicator, which is more popularly known as the key performance indicators. The volume indicator is tracked similarly as the KRI. When the former changes, there is a possibility that the probability and the impact of the risk event will increase.

It is actually not a difficult task when building the key risk indicators especially now that there are templates that you can download and use for your own system. However, it is still important that you know what the KRI system methodology is all about. Primarily, you will need to identify the metrics that are being used by your company in the present time. This is where most businessmen realize that creating predictive KRIs start with risk assessment. Then, you will have to assess the gaps, which means that you need to evaluate the metrics on whether or not they are effective in evaluating the risks in the business. Third is to improve those metrics that do not seem to fit the KRI system which will then lead to validation and identification on trigger level. You will need to statistically analyze the historical data regarding the risk event and the metrics that you have.

After that, you can now design the dashboard using the metrics that are critical for the process owners, the business managers as well as the senior management. The last step is to formulate a control plan and define the escalation criteria.