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Six Helpful Tips for Young Leaders

Six Helpful Tips for Young Leaders
Helpful Tips for Young leaders Here’s a random list of practical advice for young leaders. If you can learn and practice these early in your career, it will help you avoid having to learn them by experience. Delegate, Trust People down the line and Take Advice: While a young business leader may have a flair for leading from the front, one should realize that limited experience is a limiting factor. People are far more likely to take a manager seriously only if he or she listens to and heeds advice. When you act as the sole proprietor of making decisions in your company, people working for you start losing faith in you. It creates what is called “NEGATIVE VIBES” which is not at all good for the overall development of an organization. It is a good practice to communicate and consult with your immediate sub-ordinates before going for big decisions. Learn to let go of control. It is but appropriate to include employees in decision making and you shall be definitely rewarded with more workable strategies. Set an Example: At the same time, one of the most effectual ways to display ability is to lead by example and work hard. A leader must be prepared to shoulder a fair share of the work-load and the #involvement and #commitment he exhibits is undoubtedly infectious and projects him a great team player. The most effective way to earn respect is to lead from the front and help others succeed. Be wary about your conduct, behavior and actions and deeply aware of how it may influence others. Show #conviction: A leader has to have conviction in his/her decisions. If the young manager has done proper ground work and research, then the decision may well be the right one and he/she might be able to stand by and justify the decisions made even when challenged by experienced people. I thoroughly go with this viewpoint “A ‘No‘ uttered from the deepest conviction is better than a ‘Yes‘ merely uttered to please, or worse, to avoid trouble.” Mahatma Gandhi A leader should learn to say ‘NO’ at the right time as indecisiveness is one of history’s greatest leadership killers. Top 25 Leadership Quotes Keep Your Cool in Crisis: Part of being a successful leader is how you handle pressure. In the dynamic business environment you may have to face more challenging and stressful situations and your employees’ judge you based on how you treat such pressure. If you are a man who can see things from the right perspective embracing rationale, your team members will feel reassured by your cool composure, which will in turn develop their trust and confidence in the leader. Manage expectations: Have you ever given a thought about what employees’ expect in you? Communication is a natural gift for leaders and you may very well notice that great leaders are excellent communicators. Here, communication isn’t just talking but a one-on-one, heart-to-heart talk as you would with your close family members. By opening the lines of communication and being accessible, a leader can build a team with people who understand the ##goals and #objectives with ultimate clarity. Present Yourself with Dignity: In Tamil language, there is an age old proverb, “Aal Paadhi Aadai Paadhi”, meaning “#Good Looks Make the Work Easy”. In this modern world, a professional look is mandatory to signify your culture and #personality. A professional, well-dressed businessperson, gives the impression that he thinks that the workplace and the people there are important.” Marilyn Monroe once rightly said “I don’t mind making jokes, but I don’t want to look like...
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Why Companies Go For Mergers and Acquisitions

Why Companies Go For Mergers and Acquisitions
What is meant by Mergers and Acquisitions? This is a general term used to refer to the #amalgamation of companies. A merger is a combination of two companies to form a new company, while an acquisition is the purchase of one company by another in which no new company is formed. Mergers and acquisitions refers to the buying, selling and combining of different companies to aid a company in a specific industry to grow quickly without having to create another business entity. Growth due to Internal and #External Expansion: A  business might grow either by #internal expansion or by external expansion. In the case of internal expansion, a firm grows progressively through procurement of new #assets, substitution of the technologically out-dated equipments and the setting up of new product line. But in external expansion, a firm secures a running business and grows overnight through corporate combinations. These combinations are in the form of mergers, acquisitions, amalgamations and takeovers and have now become important features of #corporate restructuring. Why Mergers & Acquisitions: Mergers and acquisitions are strategic decisions taken for boosting up company’s growth by augmenting its production and marketing operations. One of the main reasons that companies opt for a merger or acquisition is that, by conjoining business undertakings, performance will increase and costs will decrease. Essentially, a business will attempt to merge with another business that has complementary #strengths and weaknesses. Many M&A deals allow the #bidder to thrash future competition and gain a larger market share in its product’s market. Mergers or amalgamations may take two forms:- #Merger through Absorption:- An absorption is a combination of two or more companies into an ‘existing company’. All companies except one lose their identity in such a merger. Example: 1999 merger of Glaxo Wellcome and SmithKline Beecham, both firms ceased to exist and a new firm GlaxoSmithKline was created. #Merger through Consolidation:– A consolidation is a combination of two or more companies into a ‘new company’. In this form of merger, all companies are legally dissolved and a new entity is created. Here, the acquired company transfers its assets, #liabilities and shares to the acquiring company for cash or exchange of shares. A fundamental characteristic of merger is that the acquiring company (existing or new) assumes the #ownership of other companies and combines their operations with its own operations. Reverse Merger Is a deal facilitating a private company to become a public company. The deal enables private company by listing in a short time period. Occurs when a private company has strong prospects and is eager to raise financing, buys a publicly listed shell company. Usually the public one is one with, no business and limited assets Acquisitions and Takeovers #Reverse Takeover Acquisition usually refers to purchase of smaller firm by larger firm Sometimes, smaller firm acquire #management control of a larger / longer established company Keep its name for combined entity Friendly Acquisition Companies accomodate in negotiations Identical to merger of equals Cognizant to Acquire TriZetto, creating a fully-integrated healthcare technology and operations leadership. With more than $3 billion in combined healthcare revenue, Cognizant and TriZetto will serve nearly 245,000 healthcare providers. Hostile Acquisition Takeover target reluctant to be purchased If the #acquiree company has no prior knowledge of offer Hostile takeovers do turn friendly most of the times. Offer is usually upgraded for smooth acquisitions Benefits of Mergers and Acquisitions Greater Value Generation Generate Cost Efficiency #Economies of Scale Increase in Market Share Gain higher...
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Top 25 Leadership Quotes

Top 25 Leadership Quotes
Best Leadership Quotes  “Only one man in a thousand is a leader of men — the other 999 follow women. Groucho Marx The Leader In You – #Dale Carnegie “Leadership is the capacity to translate vision into reality. – Warren Bennis Developing the Leader Within You – “You don’t lead by pointing and telling people some place to go. You lead by going to that place and making a case. – Ken Kesey Awaken the Leader in You – Mitesh Khatri “No man will make a great leader who wants to do it all himself, or to get all the credit for doing it.– Andrew Carnegie How To Win Friends Influence People – “Outstanding leaders go out of their way to boost the self-esteem of their personnel. If people believe in themselves, it’s amazing what they can accomplish. – Sam Walton The Leader in You – Peter Miller “To lead people, walk behind them.” – Lao Tzu “The best leader is the one who has sense enough to pick good men to do what he wants done, and the self-restraint to keep from meddling with them while they do it – Theodore Roosevelt “The challenge of leadership is to be strong, but not rude; be kind, but not weak; be bold, but not bully; be thoughtful, but not lazy; be humble, but not timid; be proud, but not arrogant; have humor, but without folly– Jim Rohn “Leadership is a potent combination of #strategy and character. But if you must be without one, be without the strategy – Norman Schwarzkopf “Successful leaders see the opportunities in every difficulty rather than the difficulty in every opportunity – Reed Markham “The problem with being a leader is that you’re never sure if you’re being followed or chased – Claire A. Murray “Do not follow where the path may lead. Go instead where there is no path and leave a trail – Harold R. McAlindon “Learn to see things backwards, inside out, and upside down – John Heider, Tao of Leadership “The real leader has no need to lead- he is content to point the way. #Henry Miller “A leader is a dealer in hope – Napoleon Bonaparte From Manager to Leader “If your actions inspire others to dream more, learn more, do more and become more, you are a leader – John Quincy Adams “The art of leadership is saying no, not yes. It is very easy to say yes – #Tony Blair “Never tell people how to do things. Tell them what to do and they will surprise you with their ingenuity – George Patton “Leadership does not always wear the harness of compromise – Woodrow Wilson “Take time to deliberate; but when the time for action arrives, stop thinking and go in – Andrew Jackson “To be a great leader and so always master of the situation, one must of necessity have been a great thinker in action. An eagle was never yet hatched from a goose’s egg – James Thomas “A good general not only sees the way to victory; he also knows when victory is impossible – Polybius “Leadership is being the first egg in the omelet – Jarod Kintz “Leadership consists of nothing but taking responsibility for everything that goes wrong and giving your subordinates credit for everything that goes well – Dwight D. Eisenhower “##management is doing things right; leadership is doing the right things –  Peter F. Drucker...
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Business Viability Checklist

Business Viability Checklist
Business Viability Checklist for Entrepreneurs Hey Folks, here is a checklist for business viability or feasibility analysis, the fore-most step before starting a venture. Whether you are a dare devil driver yearning to embrace entrepreneurship as a result of your eternal frustration of saying” Yes-Boss” 24/7, or a first generation entrepreneur , this checklist will be of immense help in that it will reduce the elements of uncertainty and risk. Unlock massive growth using the business development channel. Learn pitching, BD strategy, cold emailing, & deal closing. Bestselling **** Many businesses look at profit within quotes as ultimate viability. Even if the business is not currently profitable or undergoing a growth surge, or just going through a bad patch – there is an anticipation of being profitable at some future date. This  hope of future profit warrants continued investment. We can also consider the social and environmental aspects of an organization adding value, if it satisfies  any social costs. You need to know what is viability? Viability is defined as the ability to survive or persist. In a business sense, that ability to survive is ultimately linked to financial performance and position. A business is viable where either: it is returning a profit that is sufficient to provide a return to the business owner while also meeting its commitments to business creditors it has sufficient cash resources to sustain itself through a period when it is not returning a profit. ASK YOURSELF THE FOLLOWING QUESTIONS BEFORE STARTING-UP THE OPEARTIONS: Why are some companies PROFITABLE  and some not? Why do some companies CONTINUE TO EXIST and some not? What does success and survival mean? How ESSENTIAL  is profit? How can a company survive when it is not  making a profit? How can a company NOSE-DIVE  when it is making a large profit? How VITAL  is growth? Can a company become NON-VIABLE  simply because it fails to maintain its year-on-year growth? How imperative  is CORPORATE  IMAGE? Are these factors relevant to business viability? The following post from franchisesunder10k.net provides great insight on easy online businesses to start in 2018. https://franchisesunder10k.net/these-are-the-easy-online-business-opportunities-you-ve-been-looking-for  Fundamentals of a Feasibility Plan • Provide key  information needed by investors and bankers • Reasons for its chance of success/failure • Supporting Documents • Explanation of the principal concept underlying your venture and what sets it apart from other businesses. Infographic Courtesy : Entrepreneur.com  SOME OF THE REASONS WHY NEW VENTURES FAIL • Lack of Objective Evaluation • No Real Insight into the Market • Inadequate Understanding of Technical Requirements • Poor Finance Understanding • Lack of Unique Selling Proposition • Ignorance of Legal Issues Let us now look at some of the important dimensions of business viability: Market viability Technical viability Business Model viability Management model viability Economic and Financial Model viability Market Viability: Utilize Porter’s 5 Competitive Forces Model to understand market viability and industry position. Technical Viability: You do not have to incorporate specific financial information in the technical portion of your feasibility study, but all data  in this component must support your financial figures  represented elsewhere. Basic things that most businesses need to include in their technical feasibility study include: Materials Labor Transportation or Shipping Physical Location Technology Business Model Viability: P.E.S.T. Analysis A PEST analysis is a business measurement tool. PEST is an acronym for Political, Economic, Social and Technological factors, which are used to assess the market for a business or organizational unit. Management Model Viability: Decision making process Training and Cross-training Management Capability to effectively lead the organization in a sustainable growth mode Management Systems and processes, and General Leadership Capabilities are scrutinized. Economic and Financial Mode Viability: Capital Structure Cash Management Profitability and Liquidity are dealt with when...
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Why is Depreciation Charged on Assets

Why is Depreciation Charged on Assets
What is meant by Depreciation? It means reduction in the value of a fixed asset used in the business due to #wear and tear and effluxion of time. What is depreciation? Internal and External Causes of depreciation: i. Wear and tear: Caused mainly due to constant use, erosion, rust etc. ii. Efflux of time: Mere passage of time will cause a fall in the value of an asset, even if it is not used. iii. Obsolescence: A new invention or change in fashion or a permanent change in demand may render the asset useless. iv. Depletion: When raw materials or natural resources like mines, quarries and oil wells are extracted continuously, they deplete. v. Accident: An asset may reduce in value because of meeting with an accident, like fire accidents. vi. Fall in the market price. Watch this video on What Is Depreciation – How It Affects Profit And Cash Flow What is the necessity for providing depreciation? According to International Accounting Standard Committee (IASC) “Depreciation is the allocation of the depreciable amount of an asset over its estimated useful life. Depreciation for the accounting period is charged to income either directly or indirectly.” The need for depreciation arises because of the following reasons: To ascertain the true profit of the business for a particular periodTo show the asset at its true value in the balance sheetTo provide funds for replacement of the old asset with a new one Objectives of providing depreciation: To recover the cost incurred on fixed assets over its lifeTo facilitate the purchase of new asset, when the old asset is disposedTo find out the correct profit or loss for the particular periodTo find out correct financial position through balance sheet Factors to be considered while determining the amount of depreciation: I. The total cost of the asset including all freight, insurance and installation charges II. The estimated residual or scrap value at the end of its life III. Estimated number of years of its usefulness It is concerned with charging the cost of fixed assets to operations. But the term depletion refers to the cost allocation for natural resources, whereas the term amortization relates cost allocation for intangible assets. What are the various methods for depreciation? Fixed installment or Straight line or Original cost method.Diminishing Balance Method or Written down value method or Reducing Installment method.Annuity Method.Depreciation fund method or Sinking fund amortization fund method.Insurance policy method.Revaluation method.Sum of the year’s digits method (SYD).Double declining balance method.Depletion method.  Related Posts : How to Manage Working Capital?Short Term...
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