...understand the management cycle that links strategy and operations, and know what tools to apply at each stage of the cycle. the Management System by Robert S. Kaplan and David P. Norton NOT LONG AFTER ITS SUCCESSFUL IPO, the Conner Corporation (not its real name) began to lose its way. The company’s senior executives continued their practice of holding monthly one-day management meetings, but their focus drifted. The meetings’ agenda called for a discussion of operational issues in the morning and strategic issues in the afternoon. But with the company under pressure to meet quarterly targets, operational items had started to crowd strategy out of the agenda. Inevitably, the review of actual monthly and forecast quarterly financial performance revealed revenues to be lower, and expenses to be higher, than targeted. The worried managers spent hours discussing how to close the gap through pricing initiatives, capacity downsizing, SG&A staff cuts, and sales hbr.org 1808 Kaplan.indd 63 | January 2008 | Harvard Business Review 6 3 12/5/07 5:32:05 PM | Mastering the Management System campaigns. One executive noted, “We have no time for strategy. If we miss our quarterly numbers, we might cease to exist. For us, the long term is the short term.” Like Conner, all too many companies – including some well-established public corporations – have learned how Gresham’s Law applies to their management meetings: Discussions about bad operations...
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...specific issues/areas. • It is a relatively short-term activity, except in executive coaching, which tends to have a longer timeframe. • It is essentially a non-directive form of development. • It focuses on improving performance and developing/enhancing individuals skills. • It is used to address a wide range of issues. • Coaching activities have both organizational and individual goals. • It assumes that the individual is psychologically healthy and does not require a clinical intervention. • It works on the premise that clients are self-aware, or can achieve self-awareness. • It is time-bounded. • It is a skilled activity • Personal issues may be discussed but the emphasis is on performance on work. Differences between Counseling and Coaching: |Counseling |Coaching | |Broader focus and greater depth |Narrower focus | |Goal is to help people understand the root causes of long-standing |The goal is to improve an individual’s performance at work | |performance problems/issues at work | | |A short-term intervention, but can last for longer time periods due |Tends for be a short-term intervention | |to the...
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...India – the sovereign state is often still struggling to retain its monopoly control. In doing so, the state stifles the full potential role of cities to advance the world, to reduce the burden of world poverty. Liberating the cities is thus a key part of the agenda for the new century and for the eradication of poverty. NIGEL HARRIS I Introduction his paper seeks to present a view of the era of globalisation through highlighting particular changes which mark the break with the preceding period, the heyday of the nationstate. The exercise is undertaken in order to assess the resulting radical changes in the conception of spatial planning and thus the emergence of a new agenda for the management of cities. Following the introduction, the second part seeks to clarify what might be meant by ‘globalisation’, and the third, the main features of the management of the old order. The fourth concerns the transition from one to the other, and the fifth, the emerging new agenda. The penultimate part concerns the emergence of a city of services, and the paper concludes with a discussion of some of the issues concerned with the governance of the new order. T II What Is ‘Globalisation’? Over the past two decades, the term ‘globalisation’ has become...
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...two basic rules: understand the management cycle that links strategy and operations, and know what tools to apply at each stage of the cycle. Mastering the Management System by Robert S. Kaplan and David P Norton . COPYRIGHT © 2007 HARVARD BUSINESS SCHOOL PUBLISHING CORPORATION. ALL RIGHTS RESERVED. Not long after its successful IPO, the Conner Corporation (not its real name) began to lose its way. The company’s senior executives continued their practice of holding monthly one-day management meetings, but their focus drifted. The meetings’ agenda called for a discussion of operational issues in the morning and strategic issues in the afternoon. But with the company under pressure to meet quarterly targets, operational items had started to crowd strategy out of the agenda. Inevitably, the review of actual monthly and forecast quarterly financial performance revealed revenues to be lower, and expenses to be higher, than targeted. The worried managers spent hours discussing how to close the gap through pricing initiatives, capacity downsizing, SG&A staff cuts, and sales campaigns. One executive noted, “We have no time for strategy. If we miss our quarterly numbers, we might cease to exist. For us, the long term is the short term.” Like Conner, all too many companies— including some well-established public corporations—have learned how...
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...Financial Management of For-Profit and Nonprofit Organizations by Kamilah A’Vant Submitted to MGMT 640 9040 November 13, 2011 EXECUTIVE SUMMARY This paper will outline the similarities and differences between for-profit organizations and nonprofit and organizations. Many view for-profit and nonprofit companies as very different business organizations; however they have many commonalities. Both for-profit and nonprofit organizations are corporations. As a corporation, both are legal enterprises created to operate and transact business. Corporations hire employees to manage day-to-day activities and act in its best interests. For-profit and nonprofit companies work to control spending, find ways to bring in revenue, operate under organizational structures and utilize accounting practices to track and report how efficiently assets are used. Nonprofit organizations fall under a large umbrella in respect to size and mission. The environment under which they do business helps set them apart from for-profit companies. Nonprofit companies have a great need for their services, face cuts in funding and capital limitations. In this paper I will focus on the financial management techniques used by for-profit and nonprofit companies. I will address the following questions: • What are the sources of funds available to for-profit and nonprofit companies? • Is there a conflict between the mission and bottom line of nonprofit companies? • What...
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...Peter Rigby in Birmingham under the umbrella of Specialist Computer Holdings (SCH), SCC it is Europe’s largest privately owned technology company in terms of revenue. Communications is highly important for SCC as it is instrumental for the successful achievement of the company goals. The aim of this report is to review the effectiveness of the internal communications used in the organisation and how these relate to business operations and performance. SCC communication network is decentralised as the organisation is divided into several areas and each own is responsible for their own performance, such as private and public sector teams. organised using the Y network where information generated from the MD is then channelled via the private and public sector units who in turn pass on the information to the all the other relevant teams. 2. Procedure The info used for this report was sourced from SCC’s IT systems and hard-copy corporate information available for internal access. 3. Findings 4.1. Performance Management/ Appraisals Performance Management aims to review an employee performance against agreed measures as well as set an employee performance development plan. It seems that there is currently no compliance or consistency in regards to the time, content and follow up of the performance management process. It would appear that some employees have only had 1 performance review in the last 5 years with no follow up from the actions agreed. Other employees...
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...Online Purchasing of Goods and Services Amr El Sayed 900091985 Maie Kandeel 900100546 MGMT 311 Business Law Dr. Ahmed Sallam Fall 2013 Abstract: Online purchasing of goods and services has become increasingly common with the increased use of Internet and online services, enhancements in technology and globalization of the world. Because this issue has become more common, security of buyers and sellers is a pressing issue that needs to be looked into. Online contracts and payments play a big role in the purchasing of online goods and services and this will be the main purpose of this paper. Table of Contents I. Introduction to online purchasing of goods and services II. Contract Formation III. E-Signature IV. Laws related to online purchasing of goods and services a. Traditional Consumer Protection Regulations b. Online Regulations V. Advantages and disadvantages c. Advantages d. Disadvantages VI. Fair contract terms and conditions VII. Protection e. Protection against stealing f. What to do if you have a complaint VIII. Case Study IX. Bibliography I. Introduction to online purchasing of goods and services Online purchasing of goods and services is basically electronic commerce, where consumers directly buy goods and services over the Internet using a web browser. Or in more recent years, through a phone application, this is known as mobile commerce or m-commerce. Online commerce substitutes for the activity...
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...“Transformational Agenda: Securing the Bright Medium Term Prospects of the Economy ’’ THE 2015 BUDGET STATEMENT AND ECONOMIC POLICY ~ ii ~ Theme: “Transformational Agenda: Securing the Bright Medium Term Prospects of the Economy ’’ For copies of the Statement, please contact the Public Relations Office of the Ministry: Ministry of Finance Public Relations Office New Building, Ground Floor, Room 001/003 P. O. Box MB 40 Accra – Ghana The 2015 Budget Statement and Economic Policy of the Government of Ghana is also available on the internet at: www.mofep.gov.gh ~ iii ~ Theme: “Transformational Agenda: Securing the Bright Medium Term Prospects of the Economy ’’ ACRONYMS AND ABBREVIATIONS ABFA ACLP ADR AFCON AfDB AIDS AML AMSECs APR ATMA AVIC BACs BDS BIEPC BoG BOP bopd bps BR BRICS BSPs BVDs Annual Budget Funding Amount Ascertainment and Codification of Customary Law Project Alternative Dispute Resolution African Cup of Nations African Development Bank Acquired Immune Deficiency Syndrome Anti-Money laundering Agricultural Mechanization Services Enterprise Centres Annual Progress Report Accra-Tema Metropolitan Area Accra Visitor Information Centre Business Advisory Centres Business Development Services Bawku Inter Ethnic Peace Committee Bank of Ghana Balance of Payments barrels of oil per day basis points Benchmark Revenue Brazil, Russia, India, China, and South Africa Bulk Supply Points Biometric Verification Devices ~ iv ~ Theme: “Transformational Agenda: Securing...
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...Leadership Social Loafing * A phenomenon that occurs in groups whereby group members exert less effort than when working independently Causes: * Equitable contribution (fairness, equal input among members) * Lack of group cohesion (likely to loaf if not good friends) * Lessened relationship between input and outcome Bandura’s Theory of Moral disengagement * Advantageous Comparison- comparing our actions to others, judging ourselves to other bad things that others are doing to make yourself feel better * Displacement of Responsibility- attributing responsibility to some one else, blaming other party * Diffusion of Responsibility- This is when the services of many people, where each performs a task that seems harmless in itself, can enable people to behave inhumanely collectively, because no single person feels responsible. The responsibility is spread out, not just sitting on a on one team member, therefore a group decision where everyone is responsible yet no individual feels personally responsible * Disregard of Consequences- harm to others are denied or minimized Emotional intelligience 1. Self awareness- ability to identify habits and reactions, own feelings affect performance, when under pressure.. I tend to, Im stubborn when… 2. Self control- ability yot manage one’s emotion, especially disruptive ones, ability to stay calm and focused, think before react 3. Motivation, what drives you?, INtrintic motivation, strive continuous...
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...Economic Revival June 2012 June 2012 © Confederation of Indian Industry Copyright © 2011 by Confederation of Indian Industry (CII), All rights reserved. No part of this publication may be reproduced, stored in, or introduced into a retrieval system, or transmitted in any form or by any means (electronic, mechanical, photocopying, recording or otherwise), without the prior written permission of the copyright owner. CII has made every effort to ensure the accuracy of information presented in this document. However, neither CII nor any of its office bearers or analysts or employees can be held responsible for any financial consequences arising out of the use of information provided herein. However, in case of any discrepancy, error, etc., same may please be brought to the notice of CII for appropriate corrections. Published by Confederation of Indian Industry (CII), The Mantosh Sondhi Centre; 23, Institutional Area, Lodi Road, New Delhi-110003 (INDIA), Tel: +91-11-24629994-7, Fax: +91-11-24626149; Email: info@cii.in; Web: www.cii.in Confederation of Indian Industry The Mantosh Sondhi Centre 23, Institutional Area , Lodi Road, New Delhi – 110 003 Tel.: 011-24621874, 24629994-97 : Fax: 011-24626149 Website:www.cii.in Edited, printed and published by: Chandrajit Banerjee, Director General, CII on behalf of Confederation of Indian Industry from The Mantosh Sondhi Centre, 23, Institutional Area, Lodi Road, New Delhi –110 003 Tel: 91-11-24629994-7 Fax: 91-11-24626149 email:...
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...first and second week of videos provided for analysis. Findings: 1. CanGo is a company that is operating without a strong vision or mission statement along with a set of values that identifies their presence and purpose in the market of online gaming. CanGo also does not have a clear business strategy: without this it is very difficult for any of CanGo’s personnel to have any sense of business acumen. 2. During the management meetings it is evident that there is a strong need for some structure and proper utilization of the strategic management process. Everyone seems to be working on projects that are not their strong points, and clear deadlines and expected deliverables are not established. 3. Currently CanGo does not utilize proper planning. Management does not give subordinates appropriate guidance to establish timelines for project deliverables. It is also clear that Nick, the project manager was perhaps a poor choice by management due to his lack of organization, planning skills, and experience in project management and leadership. It does not help the situation that Nick was given very little direction from his superior, Warren. 4. CanGo dove into a new business venture without any financial or market analysis that will afford them to run a proper cost-benefit analysis and to assess their competition. According to the finance department, CanGo may not have the capital to start up their online gaming venture. CanGo lacks staff qualified in the areas...
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...common goals. Problem-solving teams and task forces, which are often cross functional, are set up to resolve specific issues. Committees are mostly formal teams which deal with regularly recurring tasks. Team members have a shared mission and are often at the core of ‘participative management’. Since team members are collectively responsible for their work, effective communication is essential on every aspect of team performance. Successful teams, forming into groups, provide some advantages, like: * Increased information and knowledge * Increased diversity of views * Increased acceptance of a solution * Higher performance levels There could be some disadvantages as well, such as: * Groupthink * Hidden Agenda * Free riders * Costs Effective teams have a sense of purpose, open and honest communication, consensus-based decision making, creativity and effective conflict resolution. When teams collaborate on reports, documents, presentations and other communications, the collective energy and expertise of the various members in a team or a group will lead to results which would be better than what most individuals could bring. We would gain much better results if we follow some guidelines towards effective collaboration, including ‘collaborative writing’, such as * Pick team members carefully * Determine project goals clearly * Assign individual responsibilities * Establish the processes and procedures * Monitor...
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...Ethics Paper Christine Harris MGT/498 April 6, 2013 Professor John Wolcott Ethics Paper The role of ethics and social responsibility in developing a strategic plan while considering stakeholder needs and agendas vary depending on the company’s values. Not all companies have the same ethical principles and moral values. In the process of developing a strategic plan a business should take into consideration the major stakeholder’s needs, however, some businesses set an agenda of making profit a priority. Ethics Also in developing a strategic plan, ethics and social responsibility will help drive the company’s mission and vision. Ethics is important and has a vital role in a company. It affects policies, practices, and procedures. These policies are set by individuals or groups and must be influenced by the culture of the company. Ethical behavior depends on an individual’s moral judgment. Therefore, policies are set to administer the order and structure in the company because employees do not always follow policies and regulations. Companies are faced with difficult decisions every day, because employees are stakeholders and what they say matters. Most businesses think of business ethics in one of three ways, (1) avoid breaking the law, (2) avoid being sued, and (3) avoid any actions that are bad for the company’s image (StudyMode, 2005.10). These three can cost businesses a loss of money and company reputation. It would be too costly to patrol each employee...
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...Lean Event (Kaizen Blitz) Agenda 1. What is Lean Event 2. Purpose of Lean Event 3. Lean Event Plan 4. Benefits of Lean Event Development of Lean Event (Kaizen Blitz) Kaizen Continuous incremental improvement Blitz To make a great effort to do something that needs to be done • • The origin of Lean Event concepts are pioneered by Toyota Production System. The concepts enabled the Toyota Production System to be the best in the world. Definition of Lean Event 1. Kaizen Activity – which means small step increment or continuous improvement activities 2. Short-term, intensive and focus effort to dramatically to improve the performance of a limited scope process. 3. Process for improving QDC by eliminating wastes 4. Process for learning Lean Manufacturing techniques 5. Technique to simplify existing processes with minimum money and maximum use of the people who daily make them work 6. The beginning of Lean transformation on the production shop floor Purpose of Lean Event 1. Speed of improvements can be realized quickly 2. Team are focused and free from daily operational issues 3. Team are creative and practical ideas are generated. 4. Intensity and urgency overcomes the intellectual resistance to new paradigm or ideas 5. Results generated are significant, clear and quick which will translate into enthusiasm and satisfaction. 6. Human development are enhanced as lean knowledge are being applied and transfer by relevant parties 7. Enhanced Learning by Doing Lean Event Principles...
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...as it relates to the organization’s goals and strategies. Use steps in the planning process outlined in the text. • Analyze the influence that legal issues, ethics, and corporate social responsibility have had on management planning at BP. Provide at least one example for each. • Analyze at least three factors that influence the company's strategic, tactical, operational, and contingency planning. Planning Part of the management function that involves setting goals and deciding how to best achieve them is called planning. Setting goals and developing plans helps the organization to move in a focused direction while operating in an efficient and effective manner. Strategies or plans are then developed for moving the organization closer to its goals. Types of Planning There are four types of planning a company can use; strategic, tactical, operational and contingency planning. Planning is part of making a decision and a manager can use the following types of planning in making short and long term decisions for a company. Strategic Strategic planning is an “organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people” (Bradford & Duncan, 2000). Strategic planning is the formal consideration of an organization's future course, usually anything that is a period of greater than three years. All strategic planning deals with at least one of three...
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