Abey Francis

Abey Francis, a freelance writer and a professional blogger who enjoys the challenges of creativity and attention to detail. He has published many articles and editorials regarding management on different blogs and online journals. His articles stimulate thinking of corporate managers on key issues of organizations and management. His research interests focus on international management, International trade finance, Investment management, leadership, social capital and knowledge management in enterprises and cross-culture studies.

Skill Development Training Methods

There are some training methods followed for the development of skill and capabilities of the existing & new employees. So that, there can be improvement of the efficiency of the employees. Some selected skill development training methods are described below:

1. Transactional Analysis

This type of training method is helpful to eradicate or minimize the dysfunctional aspects of personality, developed from critical assumptions assimilated during childhood. The life script is a basic concept of transactional analysis. The programme for transactional analysis may vary from one day to five days. This method of training enables participants to develop interpersonal competencies to improve relationships with self and others for changing their behavior appropriately to optimize interrelationships.… Read the rest

Abey Francis

Some Attitudinal Training Methods

There are training methods related to the attitude of the participants of training programmes. The specific method should be selected according to the attitude of the participants in an organization. Some important attitudinal training methods are explained below:

1. Jigsaw Method

The Jigsaw is a method of attitudinal training followed when there is too much information for one person to read or absorb. It encourages reading or listening salient points included in the training programme.  Jigsaw method is helpful to develop effective practice for communicating critical points to others. Jigsaw provides different perspectives on information. It can be particularly helpful to second language learners.… Read the rest

Abey Francis

Training and Development – Meaning, Definition and Need

Meaning of Training and Development

Training typically involves providing the employees the knowledge and skills needed to do a particular task or a job through attitude change. It is concerned with imparting and developing specific skills for a particular purpose. For example, Flippo has defined training as “the act of increasing the skills of an employee for doing a particular job”. Thus, training is a process of learning a sequence of programmed behavior. This behavior, being programmed, is relevant to a specific phenomenon, that is, a job.

The term development refers broadly to the nature and direction of change induced in employees, particularly managerial personnel through the process of training and educative process.… Read the rest

Abey Francis

Agency Problem

Why conflict of interest between owners and management?

The control of the modern corporation is frequently placed in the hands of professional non-owner managers. We have seen that the goal of the financial manager should be to maximize the wealth of the owners of the firm and given them decision-making authority to manage the firm. Technically, any manager who owns less than 100 percent of the firm is to some degree an agent of the other owners. In theory, most financial managers would agree with the goal of owner wealth maximization. In practice, however, managers are also concerned with their personal wealth, job security, and fringe benefits, such as country club memberships, limousines, and posh offices, all provided at company expense.… Read the rest

Abey Francis

The Role and Responsibilities of Finance Managers

Role and responsibilities of a finance manager have undergone a remarkable transformation during the past four decades. Not too many years ago, finance manager had a very limited role in a business enterprise. Finance manager was responsible only for maintaining financial records, preparing reports on the company’s status and performance and arranging funds needed by the company so that it could meet its obligations in time. Finance manager, as a matter of fact, was regarded as specialized staff officer in the company concerned only with administering sources of funds.

Finance manager  was called upon only when his specialty was needed. For example, when the company experienced the problem of dearth of funds, the management expected the finance manager to locate suitable sources of funds and procure additional funds.… Read the rest

Abey Francis

Interface Between Finance and Other Management Functions

Finance is the study of money management, the acquiring of funds (cash) and the directing of these funds to meet particular objectives. Good financial management helps businesses to maximize returns while simultaneously minimizing risks.

Financial management is an integral part of overall management and not merely a staff function. It is not only confined to fund raising operations but extends beyond it to cover utilization of funds and monitoring its uses. These functions influence the operations of other crucial functional areas of the firm such as production, marketing and human resources. Hence, decisions in regard to financial matters must be taken after giving thoughtful consideration to interests of various business activities.… Read the rest

Abey Francis