Archive for the 'Financial' Category
Posted by: arlene on Tuesday, 12th Aug, 2008
These levels of achievement will certainly help redirect an employee’s focus toward becoming world class. However, the manager’s efforts at career redirection will be forever hindered if all of the pay signals are telling the employee to look upward.
Although each of us is motivated by money in different ways, the fact of the matter is that few of us are repelled by money. All of us may not hunger for it, but only a tiny minority of us find money positively distasteful. Therefore the simple truth is that it will be much easier for managers to redirect employees toward alternative career paths if some of those paths involve a raise in pay. ..more
Posted by: arlene on Sunday, 3rd Aug, 2008
If you want to be sure of creating the best impression you might decide to hire an interior designer. Alternatively, Laura Ashley charge £500 for a styling consultation for three rooms, refundable against purchases of £500 or more. At the most basic level:
- Rooms in one neutral colour, particularly white and cream look larger than their actual size. ..more
Posted by: arlene on Monday, 28th Jul, 2008
Sooner or later you’ve got to begin someplace. Why not with Your own group? Sometimes, because of organizational constraints, the only meetings you can affect are the ones in which You participate. It makes sense to test these ideas in your own back yard. There is no better place to develop your skills and gain experience. If you’re going to spend valuable time and energy participating in meetings, why not make them more productive and enjoyable? Here are eight steps you can take as manager/chairperson to introduce the Interaction Method into your meetings. ..more
Posted by: arlene on Saturday, 26th Jul, 2008
Licensing, registration and inspection
It is amazing how many businesses require some form of licensing, registration or inspection. Bed and breakfast establishments, for instance, may need to be inspected by fire officers, to be registered with the local authority, and may even need planning permission and official approval of their signs from local planning officers. That’s before they start taking on catering, in which case there is another host of rules to contend with. These rules have been set up for the public good, wisely or otherwise. But many people do not know about them. Unfortunately, ignorance is no defence and you could end up being fined heavily if, for instance, your kitchen is not up to environmental health standards for a catering business, or if you are an unregistered childminder. If you make toys which do not comply with safety standards or sell clothes without the correct labelling, you could also end up in hot water. ..more
Posted by: arlene on Tuesday, 22nd Jul, 2008
Market research is also invaluable in pricing your product or service. Ron Flounders, of Hertfordshire Business Link, which offers free advice to start-up businesses, says that all too often people work out their pricing ‘back-to-front’. They ask themselves how much they need to earn, what their costs are, and then price the product accordingly — regardless of what the market will pay. In fact, what you need to do is market research to establish what price the market will pay, then work out your costs and from that see whether it is worth going into business at all.’ ..more
Posted by: arlene on Tuesday, 22nd Jul, 2008
Once you’ve done your market research and worked out if you can make a profit from the business, the next step is to take advice. This will not only confirm whether your calculations are realistic, but can take a lot of the pain out of setting up. The good news is that there’s lots of advice available - and much of it is free. What’s more, experts on small businesses reckon that over 60 per cent of small business failures could be avoided if only people took advice in three areas - money, management and marketing.
1 TECs/LECs A good place to start is your local Training and Enterprise Council (TEC), or Local Enterprise Council (LEC) . These can also put you in touch with other helpful agencies; such as your local Enterprise Agency and Business Link. You can find them through your telephone book, Yellow Pages or local library. The Department of Trade and Industry also has a hotline. ..more
Posted by: arlene on Sunday, 20th Jul, 2008
It is a sad fact of life that most small businesses require capital to start up. There are a few businesses which require only the minimum of equipment and stationery (journalism, PR and teaching, for instance), but most will require some form of outlay either for equipment, for stock or both. Then there are other considerations. You may need a budget for advertising, for accountancy and legal fees, or even for adapting your living room.
Before you even try to raise money, it is well worth thinking about the minimum amount needed. If the business is in the fledgling stage, try to keep only to the bare essentials — there will be time for a mahogany desk and state-of-the-art printer at a later, more successful stage. ..more
Posted by: arlene on Sunday, 20th Jul, 2008
There are thousands of grants and low interest loans available for small businesses. The problem is finding out what they are and whether your business qualifies. Some fields are more liberally provided with grants than others. For instance, the Crafts Council has a setting-up scheme which allows selected craftspeople to receive a grant of £2,500 for maintenance and up to £5,000 for equipment (they pay half of equipment costs), provided they apply within two years of setting up. While this would not cover your start-up costs entirely, it could certainly be a very useful addition. Other areas where grants may be forthcoming include : ..more
Posted by: arlene on Wednesday, 16th Jul, 2008
1 Is where you work an important part of the job?
If clients always expect to see you at your place of work, it may be difficult to transfer to homeworking. A doctor working in a casualty department, for instance, is unlikely to be able to work outside the hospital for any length of time, since patients expect to be treated at the hospital and that is also where support staff are based. On the other hand, if much of your work is location independent, i.e. can be done anywhere, you are much more likely to be able to work from home for some of the time. ..more
Posted by: arlene on Tuesday, 15th Jul, 2008
If you are fully employed by a company or on a contract, this will not be an issue for you apart from the initial negotiation of your terms and conditions. However, if you are self-employed, there is no doubt that lack of security is a major issue and it may be one that will never be completely resolved. This is because however successful you become, there will always be good times and mediocre - if not bad - times, and as the owner of the business, you will take the brunt of this. However, there are ways you can minimize the lack of security experienced by self-employed homeworkers : ..more
Posted by: arlene on Monday, 14th Jul, 2008
With reference to a particular person X at work, do you frequently
- Wake up in the morning and immediately think ‘Oh no, I’ve got to face X again today’?
- Store anger throughout the day about X?
- Find yourself frequently in conflict with X?
- Experience jealousy about others‘ ability to get on with X?
- Back away from confrontations with X and then get angry at
yourself because of your inability to act appropriately?
- Disagree or have arguments with your boss, who unfortunately is X? ..more
Posted by: arlene on Sunday, 13th Jul, 2008
Harmonious and productive working relationships exist primarily because the needs of the individuals in the work team are being met. For some, there may be a need to remain quiet and removed so that they can get on with their work. For others, however, there may be a need to forge closer ties and warmer relationships with workmates. As long as the aims of the employing body are being met, then these varying needs of the work team members can be tolerated.
Problems occur, however, when this reciprocating system of need/satisfaction gets unbalanced. If one or more people want to satisfy needs which are outside the aims of the employing body or antagonistic to the other work team members, then problems occur. For example, if one person wants to manipulate the work schedule to ensure more flexitime at the expense of the others, then that person can expect some resultant turmoil in the group. As work team members often spend more time with each other than they do with their own family members, it is important to maintain positive and effective work relationships. Let’s look at several ways relationships at work can be enhanced and made more harmonious and productive. ..more
Posted by: arlene on Thursday, 10th Jul, 2008
10. Wait for the call to come through
Stay at your desk until the call comes through. If you disappear the call charge is still ticking away. Nothing irritates the person at the other end more than hanging on for an incoming call.
11. Make maximum use of operator time
The operator is probably very busy at peak times but not so busy at other times. He or she may be busy for only 50 per cent of the time and may like to take on additional work for off-peak times. ..more
Posted by: arlene on Thursday, 10th Jul, 2008
Long telephone conversations are obviously expensive. Calls should be planned and precise but, in addition to keeping the conversation as short as possible, consider other ways of reducing the telephone bill.
1. Check for overcharges on your telephone bill
By keeping a close eye on all the detail and by checking against your own records it may surprise you how often you may be able to identify an overcharge. Perhaps you don’t even look at the telephone bill but please don’t leave it to the telephone company. Treat it like any other supplier’s invoice and subject the account to scrutiny. Get out the last three years’ telephone bills and compare the quarterly charges item by item, line by line. ..more
Posted by: arlene on Tuesday, 8th Jul, 2008
Markets are becoming more international, distances are shrinking, more and more executives travel more frequently on overseas trips; travel expenditure is an area of potential waste that once brought under control, can significantly reduce your cost burden.
Check the necessity for the journey
Check the reason for a journey, check that it has been planned properly and that there are clear new objectives. Check that existing objectives cannot be attained by means of cheaper communication such as telex, telephone or fax. ..more
Posted by: arlene on Sunday, 6th Jul, 2008
Absenteeism continues to be a major industrial and economic problem. The causes are numerous, but where worker satisfaction is high, absenteeism is generally low. The problem is all too frequently dismissed by workers as a fault with the system, but management generally takes a far more serious view. Absent workers put a strain on their workmates who are generally required to take over the duties of the missing person. With less than the required number of workers available, the work process can be significantly retarded causing serious declines in productivity.
If you, the worker, are aware that you are taking time off work for sickies or because you are feeling just a bit off, then you should ask yourself what is wrong with your work situation. What is prompting you to be absent when you are basically fit for work? We can all have grey to black days. However, if these days occur every week or so, there is a problem somewhere. ..more
Posted by: arlene on Sunday, 6th Jul, 2008
In terms of your advancement, promotion (or stagnation) and general welfare at work, the most important person outside of yourself is your boss. The relationships between bosses and their employees can be: close to distant, warm to cool, authoritarian to democratic, and open to closed, to name but a few relevant dimensions.
This could be devoted to the complexities of the boss-worker relationships, but there are two aspects which the worker would be well-advised to foster—trust and respect. ..more
Posted by: arlene on Wednesday, 2nd Jul, 2008
Most manufacturing and commercial concerns that hold trading stock find themselves having to write off a certain proportion of their stock value at the end of each financial year in respect of slow moving and obsolete stock. The strange thing is that, although the goods and materials were probably purchased by profit-responsible executives of the comapany, it is usually the financial staff who determine what and how much should be written off each year.
Accountants usually make provision in their accounts for stock which everyone agrees is definitely obsolete and unsaleable in the normal course of business. They also determine the write-off in respect of obsolete and slow moving stock on the basis of the age of the stock or perhaps a percentage of the stock value. Such arithmetically conceived write-offs are in accordance with accounting standards and conventions which require that accounts are drawn up on a reasonably prudent basis. Very often the detail of these various provisions is invisible to other members of the company. Perhaps greater visibility would help your company to establish sensible policies with regards to using or liquidating such stocks. ..more
Posted by: arlene on Sunday, 29th Jun, 2008
Most people who have become disenchanted with their job consider the possibility of starting their own business. There are certain definite appeals to being your own boss—no-one to look over your shoulder, time at work determined by you, and financial rewards contingent upon your work input.
While the picture may look very rosy and alluring, there are certain pitfalls as well. You are solely responsible for the progress of the business and that will often mean longer hours and higher pressure. If the business involves employing others, there will be stresses and strains in managing your staff. Instead of being the applicant with hat in hand, you will be the boss making the hiring and firing decisions, a position of considerable responsibility and stress. ..more
Posted by: arlene on Friday, 27th Jun, 2008
Managers enjoy being involved in success and so will be full of enthusiasm as sales of a new product start to take off. Expansion and sales development from an increased range of products or a wider geographical area will not find enthusiasm or hard work wanting.
But how do we foresee the end of a product’s lifespan? Be prepared for it with a policy for new products and product improvements.
If your present products are selling well you cannot be blamed for feeling satisfied. However, your competitors are watching you with envy and will not have been idle. They are probably working at this very moment on a product with a few advantageous features, so don’t ever think that your current product design is the ultimate. There will be changes in style, custom, fashion, new technology etc. Ensure that your programme of product improvement keeps you ahead. ..more