Did you now a 5 minute journaling everyday can transform your life! Gratitude and Self-Care journals can help you organise your thoughts, reflect on the day, and assess where you are and where you want to go. How Can Journaling Help Me? One of the best solutions is to write a journal everyday. Journaling is a fantastic self-care technique that not only improves feelings of happiness, but also reduces stress, clarifies thoughts and feelings, and ultimately helps you get to know yourself better. Why is Journal Important for Self Care? When your world seems to be in chaos, keeping a journal can help you create order. You learn about yourself by revealing your deepest fears, thoughts, and feelings. Consider your writing time to be personal relaxation time. It’s a good time to unwind and de-stress. What is the purpose of keeping a personal journal? A personal journal is a good, ongoing way to record your observations and thoughts—your personal responses to your surroundings—and thus develop writing ideas. Gratitude Journals and Self Care Journals actually Improve productivity I laughed when I first heard of a “gratitude journal.” I never expected it might turn out to be “the” success tool I was looking for. I initially attributed a gratitude journal for people who were unhappy, unfocused, and unsure of their path. It was a squandering of time. I’m extremely busy. I’ve got more important things to do. I was totally wrong. A gratitude journal actually improves productivity. Click the link below to download your copy now 👇 👇 Daily Gratitude Journal | Self Care Journal | 30 Days Self Care Challenge Some of the world’s most successful people keep gratitude journals, including Oprah Winfrey, who is worth $3 billion and you may have heard of her. Writing down what you’re grateful for makes you happier. Happiness boosts productivity. As a result, a gratitude journal may be the most underutilised tool for increasing productivity. Weekly IntrospectionThere is a section at the end of each week in the Gratitude Journal for your Weekly Reflection. This is where you can reflect on positive moments from the week and choose four or five to list. Self Care Journal and Challenge When we are so focused on getting the job done that we neglect our own needs. However, long-term, successful entrepreneurs and business leaders have learned this lesson (often the hard way). They understand firsthand how important it is to make time for yourself even during the busiest of times. Daily Gratitude Journal | Self Care Journal | 30 Days Self Care Challenge 👇 👇 Eight strategies for taking care of yourself while you take care of business Create “me time” in your daily routineExercise dailyLearn to say noFind ways to unwind every dayNourish your bodyEnjoy a hobbyMake sleep a priorityBe in the moment I value sleep as the most important factor that we need to prioritize in order to have a refreshing day. If you feel refreshed, your brain automatically is on high alert and productive ideas come flowing through. If you found this post useful, leave your thoughts in the comments and also don’t forget to share your experiences of...

Defining Organizational Culture Business is an integral part of the society; and it influences other elements of the social system, which in turn affect business. The entire sphere of business activities are influenced by the social structure and culture of a society. The social system is influenced by the way the business functions, innovations, transmission and diffusion of information and new ideas etc. Business activities have greatly influenced social attitudes, values, outlooks, customs and traits. However, it is very difficult and, in some cases, almost impossible to change many elements of the social environment in the short run. Hence, a business may have to anticipate and adapt to these uncontrollable external environments. Socio-cultural environment refers to the influence exercised by certain social factors, which are “beyond the company’s gate“. This includes attitude of people towards: Work Wealth Knowledge Family Marriage Religion Education Ethics and social responsibility of business. Belief System Influencing the Action: Culture is something that is evolved in a society over a long period and it represents the unified belief system of a large group of people. An organization can be distinguished from another by way of its culture, since organizational culture is unique in its perspective and methodology. When people from different social backgrounds are made to work under the same roof, a corporate organization acquires a distinct culture. Culture conveys a sense of identity for the organization. It facilitates the generation of commitment to do something noble than one’s own self-interest. Cultural Differences: As business go international, the need for understanding and appreciating cultural differences across countries is essential. Any move from one country to another will create a certain amount of confusion, disorientation and emotional upheaval. Especially, people form Asian countries that migrate to the west are subjected to what is called a “culture shock”, in terms of attitude, working style, language, way of life, dress codes and negotiating styles. Freshers may adapt to these changes quickly, since they are natural and easy to be trained. The problem arises with individuals who had been working under a totally different cultural setup from that of the new cultural environment; they will have to undergo the process of ‘unlearning‘, which is more like swapping old ideas for new ideas. This change process is what both the employees and the management find challenging; but ultimately what needs to be done has to be done. Culture Shock: Multi national and Trans national companies, which have business establishments in different parts of the world, must be prepared to cope with the culture shock. Since huge investments go into their projects, they have to think and analyze about the cultural and social aspects that have a definite impact on the working of organisations. For example, the work attitude of employees in the west might lay emphasis on services and results, oriented towards self-improvement; while that of the Asian counterparts may be patience and sacrifice rooted in emotions and loyalty. Business can be considered as a large social network serving to satisfy economic and social interests; culture acts as the social glue that helps hold the organization together by providing appropriate standards for the behavior of organization members. Slogans of Some Reputed Organizations in the Industry: Nokia: Connecting people Jet Airways: The joy of flying Reliance Industries: Growth is life Citibank: Your citi never sleeps The above cited examples give you a fair idea about what a particular company stands for. The orientation of these companies, expressed in the form of SLOGANS contributed to the successful conduct of their...

Transfer of Technology- Commercialisation Vs.Benefit The total influx of technology in underdeveloped countries is from the advanced capitalist countries for obvious reasons, which will be the highlight of this discussion. Multinational corporations play a vital part in technology transfer, the motive being profit maximization for the parent company through their subsidiaries. These corporations act as the principal instrument of technology transfer, either through their subsidiaries or through contractual agreements made with developing countries. The idea is to bring mechanized processes and equipments that are not locally available. Dominance of Technology Supplier: The technology supplier usually takes the upper hand owing to his monopolistic strength that arises from the patent protection for differentiated products and processes. Very often, the terms and conditions of transfer are arbitrarily settled under highly imperfect market conditions by the technology supplying multinationals. Advanced nations have the advantages of reduced population density, even distribution of national wealth, high standard of living, more infusion of capital into research and development, availability of skilled personnel inclined towards research etc. Dependency of Developing Nations: Developing nations on the other hand are subject to the pressures of high population density, uneven distribution of economic wealth (poor people become more poor and the rich even richer), moderate or low living standards etc. Capital drain occurs due to heavy borrowings from the World Bank which leads to increase in the social overheads. In such a situation, it is next to impossible for a developing nation to pump capital into activities concerning research. Bargaining Power of Developing Nations: The bargaining power of developing nations is weak, as they have no access to information about alternate technologies and their sources nor the necessary infrastructure to evaluate the appropriateness of equipments, intermediates and processes. Moreover, the large part of the influx of technology in developing countries is in response to the policy of industrialization through import substitution. Transfer of technology from the developed to the underdeveloped countries is made in a number of ways. They are classified into two broad categories, viz., direct mechanism and indirect mechanism. The direct mechanism includes transfer of technology through banks, journals, industrial fairs, technical co-operation, movement of skilled people etc. Here there is a choice for the developing nation to select the appropriate technology that best suits their requirement. However, this is not the principal form of technology transfer that advanced nations would prefer. Price of Technology: The indirect mechanism implies technology transfer in a “package” or a “bundle” containing technology-embodying equipments, industrial properties like patents and trademark, skill, equity capital, etc. In this system, a local enterprise negotiates with multinational corporations for transport of the required elements of technology, and the terms and conditions are settled through a process of commercial transaction. Since the trading partners are unequal, the terms of contract are invariably restrictive and the price extended for the technology unreasonably high. All the underdeveloped countries, which have opted for growth along the classical path of capitalist development, are in a position to invite multinational corporations, if for no other reason than at least for the diffusion of...

Every business organisation’s aim is to make profit and more profit. Does it end there? What should be the real motive behind running an organization? Profit maximization alone does not help the organization to firmly plant its feet in the business environment, as the success of an organization in the long run is decided by many critical factors like, market share, value of the company shares, market stand, image etc. So, shall we say, let wealth maximization be the goal of any organization, which focuses on increasing the “earnings per share” of the share holders. What is Profit Maximization? Profit maximization does not take into consideration, the interest of share holders or stake holders, who ought to be the ultimate beneficiaries. Concentrating on short term profits confines a firm and limits its scope and growth whereas; value creation is something that the management should aim for, as it helps to increase the “net worth” of a company. Mere price versus output calculations make firms to operate in a profitable manner, but it should never be the only objective of a firm, as it has the moral and social responsibility to patronize its shareholders by increasing the net worth of the company. Underlying Logic While maximizing profit, a firm either produces maximum output for a given amount of input, or uses minimum input for producing a given output. Thus the underlying logic for profit maximization is efficiency. Under perfect competitive market conditions, profit serves as a perfect measure for the performance of a firm. If profit is the motive of a firm, it fails to consider the time value of money which is an important criterion that decides the success of a firm, and also it values benefits received today and after a period as the same. Moreover the uncertainty factor is there to be considered too. Firms always prefer to have smaller but surer profits rather than larger benefits but less certain. Impact of Taxes When we talk about profits, the next indispensable factor will be the taxes that demand a portion of your profit. Maximizing profits after the payment of taxes facilitates the firm to increase the net profit ratio to serve the best interests of the owners. But, this also fails to maximize the economic welfare of the owners, as it does not take into account, the timing and uncertainty of the benefits. Wealth maximization is the ideal alternative that is consistent with the survival goal and also with the personal objectives of managers such as recognition, power, status and personal wealth. The Right Balance between Risk and Return Mangers while deciding on investment options, seek to achieve a right balance between risk and return. If the firm borrows heavily to finance its operations, care should be taken to ensure that, the rate of return on investment should be sufficient enough to support the payment of interests on borrowings and also to repay the principal. If the firm is not able to “service the debt” there is a danger of the firm becoming bankrupt or insolvent. The firm’s investment and financing decisions are unavoidable and continuous. In order to make rational decisions, the firm must have a goal, which is nothing but the “shareholder’s wealth maximization” which is theoretically logical and operationally...