Posts Tagged Management
What is Total Competitive Management ?
Posted by Admin in Management on November 10, 2009
For someone that has a difficulty to explain what is TCM this articles is for you. The TCM (Total Competitive Management) Management means overall competitiveness. It is as much a philosophy as a system and method of administration which pursues the highest absolute and relative competitiveness by finding the optimum of the organization as a whole.
It is therefore to balance the various functions, areas and processes, as well as between the short and long term. It also seeks to achieve the best balance between the objectives, management skills, resources and environment. This is also the optimum relationship between logic and rationality, and creativity and innovation.
An organization can not innovate without creativity, without innovation there is no chance of being competitive. Nor can it be exclusively devoted to innovation aside the rationality of numbers, which are behind the financial, productivity and quality.
Thinking in the short term to achieve rapid benefits is necessary, but do apart from improving medium and long term for the various processes is suicide.
Directing involves decisions, and it is always necessary to know to find the optimum. So, if it controls, poor control leads to the generation of huge losses because of lack of control or what is the same for the excess of control. On the opposite side, over-control leads to paralysis of business, excessive bureaucracy and high costs associated with them. We then managers need to find the optimal level of control.
Just as in the previous case can emphasize the need to find the optimal time to automate or automate processes, computerization activities and manage any other activity or resource.
So also when analysis is necessary to take into account that not everyone behaves rationally. There is both rational and irrational behavior. We are also subject to this reality. We must act rationally, but always taking into account that consumers, investors and competitors can, and often act irrationally.
Sequence of steps to take when analyzing risks
Posted by Admin in Management on October 17, 2009
Below are sequence of steps to take when analyzing risks.
- Assess the risks. The first thing to do is see if there are risks, that is, if you can suffer some damage by opting for some alternative.
- Take into consideration the policies and objectives of the company. Your next step is to take into consideration the policies, values and objectives of the company, or your own to be an individual decision or professional. Thus a company can pursue a policy of slow growing, or grow at a normal pace, or not grow at all or only expand in the area of new products. The professional or entrepreneur to decide whether to take the risk in question would be whether or not in line with targets.
- Clearly define each alternative. Performed the previous steps that we must proceed to examine each alternative so as to objectively assess their costs. The major cost is financial, but whenever such costs should also be included personal, social and otherwise. For example, some may require professional alternative, excessive strain or a possible failure could undermine its reputation. It is therefore essential to determine both the financial costs, and otherwise.
- Gather relevant information and weigh the alternatives. To meet all the necessary information to estimate the potential of each alternative. The operator or manager should explore every possibility to its logical conclusion, asking questions like these:
- If the current market reaches saturation point, would it be possible to stimulate demand in other markets by modifying the product?
- Whether the increased competition reduces my market share, will there be opportunities to penetrate other markets with the same product?
- If you see me in need to begin to make other products with the new machines, is it possible to manufacture easily adapt?;
- If the demand increases, is it likely that my suppliers and subcontractors to raise their prices to me?
- Reduce the risks whatever can. The importance of this phase cannot be exaggerated.To reduce the risks is essential that employers assess realistically the extent that is in your hands to increase the chances of success. To do this it is necessary that the employer or training:
- Has a very clear idea of their own ability and his company.
- Demonstrates his creativity in finding ways to influence these probabilities.
- Is able to plan in general and in detail how to proceed in order to influence them.
- Has the momentum, energy and enthusiasm to complete their plans.
- Plan the implementation of the chosen alternative. After selecting one of the alternatives, should prepare a plan to implement it. This plan should set dates, clearly define objectives, provide for the different outcomes which may result from the decision, planning in detail for each outcome to follow the subsequent behavior and establish a procedure to monitor implementation of the plan so that you can quickly make any changes necessary.
Conclusions
It is impossible to escape the risk, any activity you do, the question is to assess the risk levels, the strength we have to face them, the consequences it can bring, and above all have a clear awareness of those factors which to ensure that we achieve the goals or not. To the extent that we consider aspects developed earlier, more likely to avoid any unnecessary risk or protect them properly we will have.
- steps taken to determine which financing alternatives to pursue
- steps in analysing a risk
- 1 the steps taken to determine which financing alternatives to pursue
- steps to determine the financing alternatives to pursue
- steps to determine financing alternatives
- steps taken to determine financing alternatives
- analyzing risks
- The steps taken to determine which financing alternatives to pursue
- entrepreneurial steps taken to determine which financing alternatives to pursue
- sequence of steps
Risk Management, Questionnaire analysis
Posted by Admin in Management on October 15, 2009
Below are some questions that are very convenient when taking any decision that involves a risk.
- Is it worth running this risk to an end I have set?
- How can I reduce the risk as much as possible?
- What information do I need before taking the risk?
- What human resources and other assistance would be possible to reduce risk and achieve the objective?
- Is this a major risk?
- What are my fears about this risk?
- Am I really ready to spare no efforts to achieve the objective?
- What you’ll get if I run this risk?
- What preparations should I do before taking the risk?
- How can I determine in quantitative terms if I’ve reached my goal?
- What are the main obstacles to achieve my goals?
This questionnaire should be likewise the employer, professional or managerial, are very important when taking rational risks. The above questions are only examples of many others which the employer can and should do before risking, if not to expose himself unnecessarily to failure.
Risk Management
Posted by Admin in Management on October 13, 2009
Every time an entrepreneur want to do an new business or expanding their business, they always face risk of lose, that’s why an entrepreneur must know how to run calculated risks. Do not refuse the challenge, but it’s not a player. He avoids the situations in which the risk is very small, because they do not involve any challenge and they do not promise great thing. He also knows to avoid situations where the risk is excessive, because he wants to succeed. Therefore evaluated must know realistically assess the risks worth taking.
Being an entrepreneur means taking risks, so it must work under the pressure of the necessity to assume risks, having of including/understanding that the possibility of a failure always exists.
“There is a risk when you have two or more options from which to choose, without being able to know in advance the results that lead each. All risks involves, therefore, the chance to win or lose, the greater the loss, the greater the risk. ”
Like all that one that accepts risks, the entrepreneur or manager it will have to make decisions from uncertain result, evaluating the possibilities of gain in relation to the loss possibilities. That it is decided finally chosen a risky or prudent alternative will depend on:
- The attractions of each.
- Their degree of willingness to accept the possible loss.
- The possibilities of success or failure of each alternative, and
- The extent they may find practicable in each case to increase the likelihood of success and decrease the odds of failure by their own efforts.
The above merits further explanation. So when we talk about the attractiveness of a proposal or business opportunity, we must analyze how profitable can be the same (Example: return of between 20% and 25% per annum on invested capital) in terms of willingness to accept potential losses must consider both the psychological capacity to assume the same, but also in relationship to the previous patrimonial capacity to deal with it (Example: not the same losing $ 20,000 for those who have a heritage of a million dollars, to lose the same amount for those with $ 50,000 .-; also is not the same losing a separate business when other businesses are owned generating utilities, which lost in the business that absorbs all our heritage and dedication).
In relation to the possibilities of success or failure of business to address, it is likely percentage, such as a 50% chance to achieve a yield of 20% or 5% to reach break even. Where such data are taken? It is best to consult with a consultant who count on statistical reports and business experience to know and can guide the entrepreneur in business analysis or activity. The fourth and last point replies to the extent that the employer thinks it can take measures to facilitate the achievement of the objectives or avoid potential losses, a clear example of this is the person who engaged in agricultural work out insurance against hail losses avoid par or intended to lock in profits by selling their crop to the future.
To the extent that the results depend on factors not controllable by the employer decrease your chances of success and will increase their risk levels, a clear example of this are the activities of a stock, especially in emerging countries.
It’s worth noting that this risk analysis should not only be made before undertaking a new activity or investment, but at all times, because if environmental conditions change or the employer’s own conditions, which until yesterday had certain levels of probability, profitability and risk, today may cease to be such.
Therefore reason and permanently monitor the situation regarding the risk levels is essential and is part of strategic thinking.
Two essential qualities of all business is that it is willing to take risks and are creative. If you have creativity, you will think better ideas, he can choose between several good ideas, it’s easier to take the risks necessary to implement the one that seems more promising.
The capacity of each individual to take risks depends to some extent the degree to which it is influenced by others, their experience, their current situation and their expectations for the future.
Before undertaking any activity or investment, the entrepreneur needs to analyze systematically whether or not involves risks. When he reaches the conclusion that certain alternatives entail certain risks, their determination to assume them or not becomes crucial. The ability of an entrepreneur to take risk increases if:
- Have self-confidence.
- Is willing to jeopardize their full capacity to maximize their chances of success.
- Knows realistically assess both the risks and their own ability to influence these probabilities, and.
- Considers the risks from the standpoint of the goals proposed.
Taking risks is an essential function of every entrepreneur. The same should be set worthwhile goals, and then use all its capacity to achieve them. Naturally, the more ambitious goals, both must be greater risks.
So, thanks to innovations which have better products and services are the result of the actions of entrepreneurs who have managed to overcome considerable difficulties and take calculated risks.
- To what extent are determination and initiative the main qualities required of the entrepreneur you have chosen to run their business successfully?
- determination and initiative
- To what extent are ‘determination and initiative’ the main qualities to run a business successfully?
- determination and initiative in business
- to what extent are ‘determination and initiative’ the main qualities required of the entrepreneur you have chosen to run their business successfully?
- To what extent are ‘determination and initiative’ the main qualities required of the
- managers viewpoints on determination and initiative
- to what extent does an entreprenuer assume risk
- determination and initiative of an entrepreneur
- to what extent are determination and initiative the main qualities required of the entrpreneur
What is CRM?
Posted by Admin in Management on September 2, 2009
The relationship management (CRM) is a model of the activities of the company seeking to increase revenue and profits by focusing on customers. In particular, CRM is defined as “.. any application or initiative designed to help companies optimize their interactions with customers, suppliers through one or more contact points with the purpose of acquiring and retaining customers.
PricewaterhouseCoopers defines as “a journey of changes in strategies, processes, and technical aspects organization by which the company seeks to better manage their activities around customer behaviors. This involves acquiring knowledge about customers and displays this information at every point of contact to obtain more revenue and efficiencies of operations. Means contact point as the place where the customer touches seller somehow, giving rise to the possibility of collecting information about it.
The CRM is a long-range philosophy that places the customer at the heart of strategic decisions is, the enterprise becomes focused towards the customer through a comprehensive system deployment and software that involves a series of channels and suppliers that interact to contribute to providing customer value.
Today many companies are redesigning their internal and external processes and related information systems with the aim of providing customers the ability to do business with them.
As the object of CRM systems is to align the organization to focus on customers, marketing becomes a key contributor to the success of the CRM under their disciplinary expertise lies with customers.
Objectives of purposes
Posted by Admin in Management on March 3, 2009
At this time of year we are assessing if we fulfill our purposes for the year ended, so if the plant or even we remember them because there are many who fall in the middle of the road or even started, so that the next us this year will not pass these purposes must be converted into goals.
An objective is a concrete which is what we want to achieve a purpose is only a wish.
First we should identify what do we want? And what we will achieve with meeting the objective? That is going to bring consequences.
The objectives must be expressed in the positive terms by which I mean that if you say Exercising twice a week, your brain is programmed to do so there is no negative word, but if you think I’m going to quit, the fact leave, remove, lose, since it involves the brain other sensations that prevents you achieve your goal.
The goals should be self-initiated arise that means you, not people who are around because maybe everyone can give you that you should lose weight, and say OK I’ll have it next year but if your purpose you are happy with your weight and is healthy for you because you would not have changed.
They must also be self-controlled, has to rely on yourself, not someone else do something to fulfill such as being happy, it just depends on your attitude to life.
You must be a fraction that is manageable from fractions may be because you think I save a million dollars for next December, but not going to be saved in February or March, you have to plan how you will saving a month to go until it meets the target.
This shows that making goals is more than what we learned in school if you remember any of you are ending with the verb in the infinitive, which are measurable and quantifiable and achievable. They still have 13 days to keep thinking what is your objective for next year.