Personnel or Human Resource Management: is the strategic approach to the management of an organization’s most valued assets – the people. Human resource is always in great demand as competent or skilled labor is in short supply. It is important to remember that no one is born with the value of excellence, as the acquisition is gradual in nature and only possible through proper training and one’s own cognitive perception. It is not that people have to belong to the elite group to make their mark in the respective fields. The best leaders and managers often are ordinary people creating amazing results and astounding success. Try some of these golden etiquettes for achieving excellence in the management of human resource: Clear objectives have to be set with the consensus of the employees Recognize the progress Confront problems Manage with flexibility Understand the value of quality Manage time for better results Enhance decision-making skills by delegating authority Master stress Motivate people Think like a winner Pursue a participative style of leadership To achieve the goals of the organization, the HR department will have to reorient itself on the following lines. It is very important that ‘Right people are chosen for the Right job’. During the induction stage, employee attitudes must be shaped in harmony with the culture of the organization. Dynamic training system should be introduced which is supposed to be a continuous process rather than a sporadic exercise. Quality of Work Life: Organization should ensure satisfactory quality of work life in order to minimize the sense of alienation, found in the workplace. It should contribute to an atmosphere to improve self-discipline, self-motivation and self realization for the purpose of production optimization in terms of both quantity and quality. The presence of a fair performance appraisal system will facilitate the growth prospects of employees in terms of career advancement and development. Fair Compensation: Institutions must work out a fair compensation package for all categories of workmen so that they may be able to receive the living wages instead of subsistence-level wages. The accent should be on production and productivity, without any compromise. Opportunities are aplenty, particularly for experienced personnel as the industries offer wide job prospects for the prospective candidates. Now-a-days job hopping is rampant which is a serious issue to be managed. A number of organizations offer bonus in the form of stock that interjects a feeling of oneness, which ensures alignment of interest between employees and the management. Favored position in terms of enhanced performance from the work force is possible only if the management comes down to embrace and lend their ears to certain rational demands form the other end. Security of Employment Increased wages Employee ownership Participation and employment Internal promotions Information sharing Incentives etc., The personnel function can 1) Attract attention to indicate the importance attached to management’s process and the various policies, practices and systems that support the process. 2) Provide necessary information and expertise on best practices in rival companies to benchmark the process and provide with analytical support for diagnosing and recounting solutions to problems arising in the employee management relation. 3) Engage in business decisions and accelerate change that is consistent with the underlying values of the company. Note: The laws and matters relating to wages and bonus come under the purview of the Ministry of Labor and Employment. The Minimum Wages Bill was passed by the Indian Dominion Legislature and came into force on 15th March,...

Research on Managerial Roles by Henry Mintzberg and Peter Drucker Henry Mintzberg, the canadian academic  observed a few managers and analysed their behaviors and arrived at some conclusions which are listed in the table below. He also identified and attributed ten managerial roles of significance in correlation with the managerial functions. S.NoManagement Functions% of time spent1.Relating to external environment1.82.Planning and setting Objectives19.53.Decision-making6.04.Organising15.05.Leadership and inter-personal role28.46.Communication12.67.Control12.78.Staffing4.1 This table very clearly explains the role of a manager as a leader and the extent of  influence he exerts on his sub-ordinates. Proper planning and goal-setting are the key contributors for the successful functioning of a firm. LEADER VS. MANAGER Coming to the managerial roles they can be classified as, 1. Interpersonal roles 2. Informational roles 3. Decisional roles  Inter-Personal Roles: Figurehead role– The function is more of a ceremonial nature, like attending the family functions of employees, greeting visitors and a manager performs the symbolic duties of a head of the organization.Leader– He has to plan the HR requirements and motivates the staff to perform well. “Managers are people who do things right; leaders are people who do the right thing.” Remember a manager has to be a leader whereas it is not so in the case of a leader.Liaison– The manager acts as a link between the organization and the external environment to build image and rapport. Informational Roles: Monitor– The manager has to update himself with the current scenario in order to utilize the information for organizing and prompt decision-making.Disseminator– The manager has to communicate and distribute information to his subordinates to effectively accomplish the enterprise objectives.Spokesperson– Efficiently has to communicate the company’s policies to prospective clients and others. Decisional Roles: Entrepreneur– He has to be innovative by adapting  to the changes in the environment. He has to be adventurous, persistent and strategic during tough times.Disturbance handler– He has to find appropriate solutions to problemsResource allocator– He has to apportion and allocate resources properly besides delegating authority to the work forceNegotiator– He has to negotiate resources outside and conflicts inside the organization. MANAGERIAL DIMENSIONS Managing: Science or Art? One perspective is Managing, like all other disciplines- whether medicine, music composing or even cricket is an art. It is “know-how.”  Still managers can use the organized knowledge about management to perform better. So let us put it this way, Managing as practice is an art; the organized knowledge underlying the practice may be referred to as a science. Let them be complementary to each other and be present in peaceful co-existence. Drucker “ON MANAGERIAL FUNCTIONS ” – A manager has to look after The specific purpose and mission of a firmIncrease productivity by making the employees more productiveConsiderate about social impacts and social responsibilities In his view, the areas a manager has to focus and concentrate are 1. Market standing 2. Innovation 3. Productivity 4. Financial and Physical resources 5. Profitability 6. Manager performance and development 7. Worker performance and attitude 8. Public responsibility He says that business has only two functions- marketing and innovation. While others were concentrating on products and commodities, he concentrated on  people and their performance. His “management by objectives- MBO ” became a very popular concept though it faced criticism.  MBO according to Drucker is a philosophy that rests on a concept of human action, behaviour and motivation. It sets personal goals (both shortterm and longterm)  to be achieved by each individual working for the organization and coverts them into challenges to be accomplished, thus motivating the individuals. The Effective Manager The effective manager is a situational manager who evaluates each approach in the light of circumstances and selects the one that most effectively and efficiently achieve individual...

Spirituality and Management The purpose of correlating spirituality and management might present a weird picture to some. Research of the old Hindu scriptures, epics and Vedas disclose the secrets of management etiquettes coated with spiritual sugar which serves as a road map for us to cherish and follow. As an ardent follower of the BHAGAVAT GITA, THE UNIVERSAL BOOK OF SPIRITUAL SCIENCE, it was really amazing for me to know that the core principles of management have already been defined and dealt with that were formulated at a later date by MANAGEMENT GURUS like PETER DRUCKER, HENRY FAYOL, C. K. PRAHALAD and the like.   I would like to present four qualities that struck me while I was comparing and contemplating. PERCEPTION AND UNDERSTANDING THE INNER SELF SELF MOTIVATION AND SELF TRANSCENDENCE DUTIES AND RESPONSIBILITIES LEADERSHIP   The Leader and the Manager: The LEADER IS BEING FOLLOWED willingly, but a manager has to command individuals in order to adhere to his instructions. So, being a good leader starts from soul searching or understanding the nature of one’s inner self. SELF CONCEPTION gives a different dimension to approach problems. Spiritual experiences induce clarity in thinking that leads to ethical decision making. The spiritual experiences of Arjuna, one of the PANCHA PANDAVAS with LORD KRISHNA made him stronger (at will) and sharper (right perception).     Decision Making: “I am the strength of those who are devoid of personal desire and attachment. O Arjuna, I am the legitimate desire in those, who are not opposed to righteousness, “says Lord Sri Krishna. At the war front, Arjuna the GREAT WARRIOR is not sure whether to fight against his own kith and kin. The inspiring words of Krishna motivated him to come out from the state of INERTIA and enter RIGHTEOUS ACTION. It is a testimony of what philosophers call the transcendence from alienation to self confidence to reach ethical decision making.   One can never forego his duty or responsibility, be it his personal life or in the management arena. EFFECTIVENESS IS DOING THE RIGHT THINGS EFFICIENCY IS DOING THINGS RIGHT Management Lessons from Mahabharata from Parth Acharya   Forming a VISION, planning the right Strategies, pooling the resources, hiring right people for the right job, setting goals and objectives, reviewing by MANAGEMENT BY OBJECTIVES, MANAGEMENT BY EXCEPTION, rewards and recognition, all have been dealt with a masterly excellence in MAHABARATHA which talks about the GURUKSHETRA WAR between the PANDAVAS and KAURAVAS or to simply put it, between THE GOOD AND THE EVIL. “The Supreme Lord is situated in everyone’s heart, O Arjuna, and is directing the wanderings of all living entities, who are seated as on a machine, made of the material energy.”Mind can make you LIBERATED OR BONDED that depends upon your WILL to master it or be a slave. Controlling your mind in turn controls your actions and thought process that leads to well augured efforts that proves fruitful to the human race. Leaders are born and not made goes the saying. But if you are able to be THE MASTER OF YOUR MIND, you are a leader made.   Management Lessons from THE BHAGAVAT GITA   Applicable to both western and Indian school of management, THE BHAGAVAT GITA deals with problems at the GRASS ROOT LEVEL relating to THE HUMAN PSYCHE. Management lessons from Bhagvad gita from singhm91 It enlightens us on all managerial techniques, goading us towards a serene atmosphere and state of affairs in place of the conflicts, stress, and lack of co-ordination, common in most of the enterprises world wide. “Do your duty perfectly, and the results will follow suit”, is the crux of GITA. How many of us...

What is Trade? Trade is the exchange of commodity and services. International trade represents business transactions taking place at the global level, and it is fundamentally different from domestic trade. Trade at international level demands huge investments, network of franchisees and proficient people to run the show. Many corporate giants are trying to capture Asian markets, especially Indian market, which has become the industrial hub for such economic activities. Economic liberalization has been the focus of many developing countries for the past two decades and this has allowed multinational companies with huge investment potential to enrich the weaker economies. What is International Trade? International trade tries to generate more foreign exchange, which is always good for the economy. Say, if a country has rich resources of petroleum, naturally it will try to sell the surplus to countries not endowed with such natural resources. That is why Middle East nations are prosperous and economically independent. The diversity in productive possibilities in different countries is due to the presence of limited natural resources. When a country gets a head start in a particular product, it can become the high volume, low cost producer. The economies of scale give it a significant advantage over other countries, which find it cheaper to buy from the leading producers than to manufacture the product themselves. Barriers for Effective Trade Every nation must try to specialize in the production and export of those commodities, which are available in plenty and must import such products in the production of which they have a resource deficiency. It should be remembered that there are severe man made barriers in international trade such as, export duties, quotas, exchange restrictions etc.,that hinder the free movement of products. International Trade and Finance Nevertheless, it is not also possible for a country to produce domestically every kind of product. In spite of all these restraining factors, global trade is thriving, thanks to the advanced technological aspects introduced in communication and faster means of transportation. Distance is no more a constraint and the world has become one small global village. Foreign Exchange Issues All domestic transactions, say in a country like India take place in rupees, which is the legal tender in the country. However, in its trade with other countries like USA, Germany, Japan, France and Britain, the payments have to be made in terms of dollars, marks, yens, francs and pound sterling respectively. The mechanism through which payments are effected between two countries having different currency systems is called foreign exchange. It may be also defined as the exchange of money or credit in one country for money or credit in another. Foreign exchange rates can affect relative prices and net exports. A rise in the a nation’s foreign exchange will depress that nation’s net exports and output, while a fall in the foreign exchange rate will increase net exports and output. Because of the significant impact of exchange rates on national economies, countries have entered into agreements on international monetary...

Export can be in the form of merchandise (goods) or services (invisibles). When an entrepreneur wants to spread out his scope of business activity beyond the territory of his nation it is called export, whence he has to prepare himself to confront the challenges prevailing in the global market. How to go about Export? Business by itself calls for discipline whether you talk about your credit policy, quality of your product or services, on time delivery, payments, fund rotation, human resources management and the like. The taste of success in the domestic market gives you the necessary confidence to spread your wings far and wide. To be a part of the global market, you are expected to imbibe not only more discipline and order but you should be very thorough about the procedures and policies of the country, to which you are planning to export and the various legal formalities pertaining to your business activity. How to Export From India Pic Courtesy: Procedure to Start Export Business from India What will be your plan of action if your merchandise is disapproved of its quality after reaching the destination or the shipment gets destroyed due to some eventuality? To combat contingencies we have to have a representative working for us in the chosen place of activity who would report and handle the proceedings. Pre-Requisites for Exporting Goods: How many people do you think who have acquired the desire to export their products have a clear idea about the steps involved in starting an export business? First you have to secure the IEC CODE (import export code) from the DGFT (Director General of Foreign Trade) that comes under THE MINISTRY OF COMMERCE AND INDUSTRY. What is IEC Code? Import Export Code (also known as IEC) is a 10 digit identification number that is issued by the DGFT (Director General of Foreign Trade), Department of Commerce, Government of India. Info Courtesy: Shiprocket.in It is also known as Importer Exporter Code. It is mandatory for companies and businesses to obtain this code to start a business that deals with import and export in the Indian Territory. It is not possible to deal with export or import business without this code. While exporting you get the following edge over others: Exposure to forex marketExposure to diversified cultureExposure to varied laws and legal formalitiesExposure to business risks which you must take up as a challenge Having businesses in various countries is better than having all businesses in one country. It saves you during periods of economic recession. You experience market growth by entering into different and new markets; Asian and European markets are flooded with traders from all around the world since these regions enjoy a locational advantage in the world map and well connected through the sea and land. RBI Policies: Exporters must be aware of the fact that RBI policies are very severe when it comes to foreign exchange. So you should have proper informational inputs from the correct source and your capital has to be invested accordingly. Slide Courtesy: Import and Export Policies and Procedures Exploring unfamiliar and exotic markets is very difficult as they are always dynamic. You should see to it that you keep yourself posted with updates on INTERNATIONAL FINANCE, LENDING RATES etc. Also Read: 10 key steps to export success You can make a small business big and beautiful by adding some flavor to it like, Right time to launch your product in the global scenario, People’s preference being given priority by doing some demographic survey, Attractive campaigns and of course Your unendurable passion for business will do the rest to make your venture a successful one. Read...