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Redesigning Your Workplace

Redesigning Your Workplace
REDESIGNING YOUR WORKPLACE IN RESPONSE TO EXOGENOUS FACTORS Big corporate firms generally face #challenges in the form of Lack of co-operation between subunits Increasing complaints from the customers Rising #Operating costs Dip in the morale Major changes in #technology All these signs are indications of a not so enterprising #organizational climate and it calls for quick #decision making regarding introducing some changes that bring some positive development in terms of improved #efficiency and increase in #productivity. Effective people are preferred to rather than efficient people as the former does the right thing and the latter does things right. Growth of  Organizations: The challenges mentioned above may make an organization’s existing #structure, #management practice or its culture obsolete for the new situation. Growth of an organization should be a result of collaborative effort of all the units of an organization and it is objective and not subjective. An organization is comprised of different elements which interact in deciding the organizational effectiveness. The #task or goal, technology, structure, people and the internal and #external environment of the firm; all these coexist and hold the firm together. Be it a school, a hospital, a union, a club or a #business enterprise the interactive nature of these elements make the process of managing very difficult. Medical tourism and business travel are becoming more popular in Asian countries as it increases the scope of collaboration of industries that can coexist to enjoy a win-win situation. Who is an #Effective Manager? An effective manager anticipates these challenges and proactively initializes a planned change. He strategically prepares the organization to be subject to planned change by manipulating the structure, technology and #behavior. Understanding the dimensions of change helps him to manage change better as people are always resistant to change. Modern enterprises right from the start have to install and implement “systems” that are technologically most modern and hire suitable people who are techno-savvy; because technology rules the world and the development of new software programmes and hardware components feed on themselves every day. Developing an Organization as a Whole: Behavior of people is unpredictable but controllable. Individually oriented #training and development programmes does not prove much to the benefit of the organization as it creates apprehensions in the minds of the individual that are related to the culture and #attitude of his superior and subordinates. The idea of developing the organization as a whole through team building is a better perspective as it renews the enthusiasm of people working for you and as a team they feel more cohesive and adhered. Synergy plays its role in improving the interpersonal relationship amongst the team members. Firms are becoming more modern in their outlook. For instance, a showroom whose purpose is to showcase your products also provides entertainment by its aesthetic value. Only if the customer is impressed by the artistic way of your exhibit, will he enter your showroom. Change is inevitable and it improves the health of an organization. The focus should be on “total system change” and the orientation is towards achieving desired results as a consequence of planned activities. Flat Organizational Structure: You would have come across the latest buzz word “flat organizational structure”. This is designed in order to bridge the gap between front line #employees and the executive level. If there is only few levels of management, the process of #communication is more effective, the art of delegation becomes mandatory and need for participation in the decision making process involves all the employees which in turn reduces bureaucracy. There is no set pattern or set of techniques that suits all the organizations when they go for a change. But the #change...
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Critical Factors of Corporate Management

Critical Factors of Corporate Management
Critical Factors Influencing Corporate Management A corporate management is said to be capable only if it is able to integrate, coordinate and direct the functional capabilities towards overall objectives and common goals of a firm, that have a bearing on an organization’s capacity and ability to implement its strategies. Multitudinous factors affect the functioning of corporate general management system. It differs with each organization with differing objectives and mode of operations. Key Factors or Contributors: The firms must evolve an effective system for corporate planning. The objectives must be realistic and achievable and clear and complete communication of plans to various levels of organization helps in execution of action plans by the respective departments. A pucca management information system is necessary that integrates all the levels through a network of computers, facilitating information processing and task implementation. If the firm is oriented towards a god deal of risk-propensity, chances of rewards are also quite high. You cannot beat your competitors unless you possess a better shade of entrepreneurship in you than others. Competency development backed up by strategy formulations, in the wake of challenges and opportunities in the external environment is well appreciated. Why everybody always talk about strategy? It is one thing that warrants for a sure success, it implies that you are smart enough to think ahead of time, what others have failed to. Don’t you want to set a path forward for the future generations to come? Values that are unique to your organization add to the image of your company. Say, if you project “quality”, as your prime value system, definitely it is going to attract consumers who are very particular about quality unmindful of the price. Slowly the idea gathers momentum and your company’s image gets a boost. But don’t forget that you have to fulfill your commitments in terms of quality without any compromise. Reward systems must be worked out to gear up the morale of top managers who are the achievers of your management objectives. Their track records and degree of commitment should be analyzed to decide on pay and promotions. A favorable organizational climate is inevitable for the organization to progress in the desired direction without any internal politics and power struggles. The role of top management is very crucial in that, it has to identify people with vested interests and bring them back into the groove by making necessary changes in the organization structure or go for weeding out actions if things go out of control. Ultimately, the overall objectives of the organization is what that matters, and people must be trained to accept the organizational changes which form a part of the developmental procedures of management. Social responsibility is much talked about these days, and the corporate firms are in a position to discharge their duties pertaining to social welfare, as part of their corporate management programme.It has become a regular feature of the management process to part with a share of their profit towards a social cause. Corporate management is a comprehensive process that covers all aspects of the management with growth as its motto and social conscience as its principle. Kindle Unlimited Sign Up No...
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Running a Restaurant

Running a Restaurant
The Viability of Running a Restaurant A project can be made into a roaring success provided you have made your in-depth analysis and research to understand the nuances of the industry. Before plunging into the market it is better to have the data ready with you. How prepared you are to run the business is not the question; how well prepared are you to face the hurdles and challenges that come your way is all that matters. Only if you withstand the rough weather may you proceed to grow and then expand. Industry Insights Restaurant industry is one such area where many people try to set their foot daydreaming of immediate success. Unfortunately the scenario doesn’t warrant instant success. Any business that has a slow and steady growth makes it to the top. Have you ever thought about the wherewithal needed to run the show! The industry looks very appealing and promising from outside but reality matters. The industry’s main focus is on supply chain management where your primary and ultimate focus revolves round your customers, who are your main focal point. Value Added Services Customer satisfaction should be your vision, mission, objective and goal. Of course you want to make profit. For what else in the world have you entered this business. But think about it, if you are not able to attract crowds, the effort is wasted. The quality The variety The appeal The presentation The treatment The ambience The refreshment, that is being offered to the customers should make them feel special and worth the value of money they are shelling out to have an evening out with their family or friends. Rising costs make people think twice before they decide on their choice of restaurant. Be sure about the class of people whom you want to cater the needs. Go for the plan accordingly and design your restaurant. Is Your Design Appealing? The design includes a sober atmosphere where the visitors can relax, mild lighting that is soothing to the eyes, mellifluous music that creates a magical effect and the choice of drapes and furnishings that add grandeur. The core concept of food industry is “customer satisfaction”. A company’s greatest strength is the quality of its professional management. You have to manage your human resource personnel, the waiters, waitresses, the chefs, the managers, billing clerks in such a way that their one and only motive is to give quick service and great service the first time and every time. Managing Your Financials Managing your financials is an absolute necessity. The initial investment has to be taken care of since you do not know the period it takes to establish yourself in the industry. How, big chain of restaurants is run successfully all over the world? First four or five years are particularly important to prove your credibility both to yourself and others. They do their complete market research wherein the customers’ preferences are jotted down and taken into consideration. High performing and high potential managers are put into place to run the show without a hitch. Well trained waiters are a big plus. Big companies diversify to invest their profits in ever prosperous areas like food industry, where people are constantly looking for new arrivals and the “brand image” that the big companies establish cannot be matched by small time players. Great service is the key factor that makes these big time players unique. Locational Advantage Locational advantage is the most important criterion for a restaurant industry. Sufficient space must be provided for parking and the access to the location be made a pleasurable experience. Don’t go for guidance from your local competitors or friends, they will...
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Key Components of Marketing System

Key Components of Marketing System
Key Components of Marketing System The core marketing system of a #company comprises the #suppliers, company, marketing intermediaries and target #customers. The success of the company is also affected by competitor’s presence and other segments of public. The #management has to watch and plan for all these factors to serve and satisfy the specified set of needs of a chosen target market. ####supplier selection: A company has to choose suppliers who offer the best mix of quality, #delivery schedule, guarantee and low cost. Say, a firm involved in manufacturing confectioneries has to procure sugar, cocoa, caramel, milk powder; Labor, equipment, fuel, electricity and other factors of #production are also to be obtained. If the company’s product has a good market, it can opt for continuous production. If it is a growing firm, it cannot go for voluminous production, but only supply goods against confirmed orders. In either case, the choice of suppliers is determined by one major factor called ‘cost’. Of course, one can never compromise on quality and so the company has to decide whether to purchase the inputs or make its own. The relationship of a company with the suppliers should be of a long-term nature, since any sudden change in the supplier’s environment will have a substantial impact on the company’s marketing operations. Sudden supply shortages, labor strikes and other events can interfere with the fulfillment of delivery promises to customers. This will result in sales decline in the short run and loss of goodwill in the long run. Back orders lead to loss of customers and in course of time their trust. The business firms must plan for alternate source of supply to avoid the risk of over-dependence on any one source of supplier. Company The marketing department has to work in tandem with the other departments of the company namely, finance, production, personnel and research and development, while designing and implementing its marketing plans. Finance department – has to be consulted regarding the availability and deployment of funds to carry out the marketing plans. Production department – to gauge market #demand and to decide on the supply of products based on demand. R and D – new product development. Equally important is Digital Marketing which is considered to be an integral part of your promotional activities – What you are seeing above is a depiction of tools that help you in marketing your products online. Marketing intermediaries: Channel members are the link between the company and the customers. Agents and middlemen find customers who are wholesalers or retailers to take on the title and sell the merchandise. Also there are physical distribution firms who assist in stocking and moving goods from the warehouse to the destinations. The marketing executives have to deal with these intermediaries prudently in order to enhance the operational efficiency of the marketing function. Logistic firms, shippers and airliners help to move the goods from one location to another. ####competitors: All the business firms in a particular market segment vie for the same resources and customers. A car manufacturing company in an automobile industry has to compete with other car manufacturers as well as with two wheelers. This implies that competition may come in different forms and each company has to identify potential threat from competitors, study their activities and capture their moves to win over the competition. Public: A company has to keep a close watch on people’s preferences to satisfy their requirements and also it is expected to give back something to the society in the form of social welfare measures. Employees belonging to different culture groups with differing attitudes, lifestyles and tastes have a great impact on a...
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