Posted by Managementguru in Entrepreneurship, Human Resource
on Feb 25th, 2014 | 0 comments
Who is an Entrepreneur? An entrepreneur is one with long term vision, creativity, uniqueness and the most conspicuous feature is undoubtedly his risk taking ability. He embarks on uncertain investments and also possesses an unusually minimal level of uncertainty aversion. He always comes out with brilliant business ideas since he is open to new information available in the rapidly changing business environment; this also facilitates self-directed and independent decisions aiding in quick growth maximization of the business enterprise. Concept of Entrepreneurship Entrepreneurship is all about action that involves opportunity exploitation and venture creation. The concept of entrepreneurship is becoming increasingly popular in developing countries as it tends to promote economic growth of a nation. “No entrepreneur, no development,” is the kind of significance attached with entrepreneurialism. Who is an Entrepreneur Though entrepreneurship is an individual’s free choice activity, it emerges and functions in a social and cultural setting. An entrepreneur must be prudent in choosing a business activity that will be supported and valued by the society and that which improves his economic standards. Consumers are always on the look-out for a product or a service that is different but unique. This proves to be an advantage for an entrepreneur to exploit the unexplored niches of the market segment. An entrepreneur has to observe and act upon opportunities that are unusual but promising. He has to study the pros and cons of a project in terms of capital investment, plant layout, production facility, labor availability, market proximity, demography, people’s preference and economic viability. The distinct features of an entrepreneur for a better understanding: Persistence and perseveranceResourcefulness to take the business activity to the next levelEternal quest for knowledgeQuality consciousSystematic planningSelf-confidenceDaringCrisis management with easePersuasion –capability to convince the customers and othersStrategy king Excellent communication skills Proficiency in a variety of subjects and disciplinesTo them , work is passionNonchalance and the like. It is the combination of body of knowledge, set of skills and cluster of appropriate motives that makes an entrepreneur a star performer. He is the pivot about which all other factors of production, productive resources and techniques revolve. Innovativeness, risk taking ability and proactiveness are the three dimensions fundamental to the concept of entrepreneurship. Entrepreneurship is a way of thinking, reasoning and acting that is opportunity obsessed (Timmons). Lakshmi Mittals and Warren Buffets belong to this category where in they have created value through recognition of business opportunities. https://www.instagram.com/p/B-t7sPKHkq4/ Follow YoungHstlrs and Entrepreneurzone for Business and Entrepreneurship...
Posted by Managementguru in Principles of Management, Training & Development
on Feb 22nd, 2014 | 0 comments
Benefits of Training to Employees Why training is needed for an Employee? Increases Confidence Training creates a feeling of confidence in the minds of employees, who feel comfortable while handling newer challenges. It gives a feeling of safety and security to them at the work place. New Skills Training develops skills, which serves as a valuable personal asset of a worker. It remains permanently with the worker himself. Career advancement The managers can develop their skills to take up higher challenges and work in newer job dimensions. Such an exercise leads to the career development of the employees, who can move up the corporate hierarchy faster. Higher Earnings Higher earnings are a consequence of career development. A highly trained employee can command high salary in the job market and feel more contended. Resilience to change In the fast changing times of today, training develops adaptability among workers. The employees feel motivated to work under newer circumstances and they do not feel threatened or resist any change. Such adaptability is essential for survival and growth of an organization in the present times. Increased Safety Trained workers handle the machines safely. They also know the use of various safely devices in the factory, thus, they are less prone to accidents. Use these popular and handy HR Quotes in your Blogs, Books, Journals, Presentations, Tweets, Facebook posts, Pinterest boards and Instagram posts. EVALUATION PHASE Training Evaluation Once you’ve implemented a training program based on careful needs analysis, how can you be sure that your training translates into real performance improvements? Evaluation can be used to determine whether the training program achieves its objectives. Evaluation can also assess the value of training, identify improvement areas, and identify unnecessary training that can be eliminated. Need for Evaluation Many training professionals agree that evaluation is important to successful training, but few conduct complete and thorough evaluations. Evaluation can seem anti-climatic to the excitement and creativity of creating a new course. Don Kirkpatrick’s 4 Levels of Evaluation One of the most widely used model for evaluating training programs is one that was proposed in 1959 by Donald L. Kirkpatrick. The model maintains that there are four levels to meas ure the quality or effectiveness of a training course. Don Kirkpatrick’s 4 levels of evaluation is the basis of discussion on evaluation of the effectiveness of training programs. Level 1 measures the learner’s reaction to the training program. Level 2 measures learning that has occurred. Level 3 measures changes in behavior on the job as a result of the training program. Level 4 measures the results of the training program as it affects the company’s bottom line. Each level has its advantages and disadvantages. It is important to plan the evaluation process, as the training is being planning. It is important to consider all levels at the outset, even though only one or two levels may be used ultimately. http://www.kirkpatrickpartners.com/OurPhilosophy/TheNewWorldKirkpatrickModel/tabid/303/Default.aspx Design of a Training Programme Some of the typical steps in designing a training programme are: Identification of training needs. Setting training objectives. Organizational set-up for training. Training operations. Evaluation of...