The difference between leader and manager can be summarized this way: “When you are a leader, you work from the heart. As a manager, you work from the head.” Although it is probably more complex than that, the point to remember is the difference between what you do as a leader and what you do as a manager-and the constant need to be able to do both. Furthermore, the head and heart need to be partners, not independent operators. A manager focuses attention on efficiency, effectiveness, and making sure the right things happen at the right time. For instance: You are in a manager role when you set performance objectives with staff, prepare budgets, review cash flow projections, develop action Continue reading
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.
The Law of Diminishing Marginal Utility
The law of diminishing marginal utility was first developed by a German economist Hermann Heinrich Gossen. This law is also known as the first law of Gossen. The law of diminishing marginal utility states that the marginal utility derived from the consumption of every additional unit goes on diminishing, other thing remaining the same. The law of diminishing marginal utility is based on two important facts : Though human wants are unlimited, each single want is satiable. Commodities are not perfect substitute for each other. Therefore, as a consumer consumes more and more units of a commodity, intensity of his/her want for the commodity goes on falling and reaches a point where a consumer do not want any more units Continue reading
HR Strategy Formulation: Organization Mission and Goals Analysis
Even similar organizations often pursue different goals; a thorough organizational analysis of the organization’s overall mission and goals is a second integral aspect of identifying human resource strategies. All organizations exist to accomplish something in their larger environments. The mission — the purpose of an organization’s existence — should guide its strategic thinking. For example, two similar electronics manufacturers may have varying missions. One may want to “be a successful organization in the entertainment business,” while the other may define its mission as “occupying a technological leadership position in the industry.” The associated strategies are likely to show significant differences. Apart from manufacturing electronic goods used for home entertainment, the former firm may acquire video and film production firms and Continue reading
Strategic Human Resource Management (SHRM)
Organizational concept behind the unstable climate of management has created a question mark in-front of organizational departments to act to the unstructured development plans. Every organization comprises of different departments who serves different work for the fulfilling the objective in a unidirectional manner. The scenario of revolution in the various fields of business has already taken the speed in the micro as well as the macro environment, which serves an indication towards the utilization of  skills. The needs of organizations are generally fulfilled by the different departments created by the organization. The hierarchy of organization creates an arena infront of  each one to stipulate themselves within that arena for their own flexibility. Organizational mission and vision shows the way to Continue reading
Targeting Strategies Involved in E-marketing
Once the variables that form a lucrative cluster of customer base for the product is identified, advertising campaigns are decided to target those customers. The E-marketer arrives at the second stumbling block here “portals”. Portals have the most popular URLs on the web today. They claim to be a one-stop solution for anything and everything that the netizen looks for. For the netizen it means less URLs to remember and a place to meet people & socialize. It could have, in most probability, also been the place of a successful electronic transaction before, quelling his/her security concerns. Although portals deny their comparison with the supermarkets of the real world, they are doing just that right now. A portal is not Continue reading
Positioning and Differentiation of Services
Services firms are not identifying their key market segments and then determining how they wish consumers to perceive both their company and its products and services. Positioning is of particular significant in the services sector as it places an intangible service within a more tangible frame of reference. Thus the concept of positioning stems from a consideration of how an organization wishes its target customer to view its products and services in relationship to those of its competitors and their actual, or perceived, needs. “Positioning is concerned with the identification, development and communication of a differentiated advantage which makes the organization’s products and services perceived as superior and distinctive to those of its competitors in the mind of its target Continue reading