The unique thought patterns, behaviors and feelings that make an individual different from the other can be termed as Personality. The personality of every individual originates out of genetic heritage as well as his immediate surroundings, and remains constant all through their lives. This results in individual differences. Due to complexity in human nature arising out of the wide variety of experiences in life, the different personality types affect individual relation ships in an organization, and affect the organizational climate. However, though it is assumed that the personality of an individual is more or less constant, it does not happen so.… Read the rest
Management Concepts
What is Servant Leadership?
In many situations we are able to draw associations or determine one situation resembles another. When individuals in leadership roles give of themselves so that others may have it is often associated with a negative connotation. Although giving and serving is not viewed in the political or religious aspect, leaders tend to develop their own views and formulate ideas that have been tampered with by politician or religious leaders. Many of the political and religious leaders have a major influence of the day-to-day operation and views of society.
We first have to know what leadership is. Leadership is the ability to get other to follow you willingly.… Read the rest
The Role of Strategist in a Business Organization
Strategists are individuals or groups who are primarily involved in the formulation, implementation and evaluation of strategy. A strategist is like a root of an organization. In order to overcome the deadly traps in any organization a strategist must first think outside of the “box” and they must focus on both “forest and the trees.” They must need to concentrate on three aspects of human intelligence like Intellectual Intelligence (IQ), Emotional Intelligence (EQ), and Spiritual Intelligence (SQ).
The mind of strategist must try to decide when to do strategy and when not to do strategy, clear target markets, competitive advantage, 80/20 focus and alignment.… Read the rest
The Relationship Between Creativity and Innovation
Creativity and Innovation are two different terms and they technically have different meanings. Creativity means originality, imagination and inventiveness that are brought out through resourcefulness. Innovation, on the other hand refers to modernization and improvement over an existing idea.
In this way, it is true that creativity and innovation are two different terms and cannot be used interchangeably. Yet, they have been used interchangeably in several areas or walks of life, including business and management as well as technology. In this way the main distinction between creativity and innovation, being the originality has been ignored and as the line between creativity and innovation is thin, it becomes even more difficult to distinguish between these terminologies.… Read the rest
Traditional Management Model vs. Modern Management Model
The world economy increasing becomes globalization, which lead to broad mixture of local, national and global markets and organizations, due to different ethic, values and cultures, even both parties speak same language, there still could lead misunderstanding, therefore today’s managers face more challenges, such as understanding the changing trends in the market, how to maintain beneficial interpersonal relationship with employees and clients, concerning about business ethics and corporate social responsibility surround managerial actions. And the turbulent global environment push managers spend more time crossing borders to conduct business, it is necessary to understand how to communicate effectively with people in different cultures to fulfill the organization’s missions and create values for the stakeholders.… Read the rest
Advantages and Disadvantages of Franchising Business
Franchising is a style of business which has a lot of different but same branches throughout the world. Franchising business is an arrangement for a continuing relationship in which one party – a franchisor provides an accredited opportunity to another party – the franchisee to do business using its trade name and offers assistance in organizing, training, producing, marketing and managing a good or service in adherence to certain specifications, in return for monetary exchange. The franchisee usually pays a one-time franchise fee plus a percentage of sales revenue as royalty, and in turn gains instant name and recognition, tried and tested products, standard infrastructural design and interior decor, detailed techniques in running and promoting the business, training of employees and on-going help in promoting and improving the product
The advantages of franchising from the franchisee’s point of view are myriad.… Read the rest