Posts Tagged ‘Business’

IU Knowledge Pills: Doing Business in China-The Legal Framework

December 23, 2009

Marie-José Garot, professor of IU Law School, discusses the legal framework for doing business in China. It recommends that in the different jurisdictions before a business in China. Learn more at IE Business Knowledge Pills IE Business School


Project Financial Management – 10 key steps to help streamline your business

December 21, 2009

In the last ten years we have been constantly with news about private and public projects that have either supplied significantly reduce the scope of the anticipated budget, or had to scale to even come close to bombing of the initial budget. The current status of project management methodologies only on the financial aspects of a project at a high level, so that working "students" with no real way to learn to understand the impact of their decisions on the financialResults of the program. In return, the business case development given in the shortest time and is usually a job rushed in the end. Invest in the right people and the time ahead to verify the feasibility and make the business case is a must to ensure the overall objective to deliver a project.

In the financial situation we are, where budgets are being cut down costs and the time is now to make sure that everything that is financing a company to provide that they do, it makes sense to invest – for that you needensure that the project at the end – Budget, costs and benefits are fully verified.

In this sense – the Pathfinder project management methodology as a basis, below the 10 key steps to successful project management will be

(1) On new projects – you invest time creating more feasibility studies and business cases, if it is a rushed job – at the end the results will provide overspends.

(2) Check your project portfolio – you areImplementing the right projects, they are nice to haves will have made it for internal political gain – ensuring that each business case is robust and provides added value for the company's future – spend time with former experienced individuals to review and to re Review the business case.

(3) Concentrate you look at how hard the benefits, since the cost. Wishes in 80% of the projects when they are, nobody go back and check to see if they delivered as promised. To ensure from the beginning of the projectCheck continuously, and the cost will be about the budget, changes to your project will not change your benefits.

(4) cost is not always the answer – the allocation of the resource "value added" projects – in today's world of cutting heads is an easy fix in the short term, do not throw the baby out with the bathwater and left the company, with projects in flight yet no experience with them to deliver. Instead, spend reviewing your project and, as in (2) focus on value creation.

(5)Development of the workforce – up-ability of their financial management knowledge to develop employees in management, health and safety, motivation, etc. – so when you put a non-financial managers responsible for a large project, it not about time they got the financial know-how. Let financial opportunity – the development of your employees.

(6) Divide the project into financially manageable sections. Too many projects to work on the basis of a "pot of cash" – they spend asper household and if luck is with them, great! Instead, take the "pot" and break it into manageable chunks structure – to your project, you can see where budgets of "workstream" and what are those pictured above / under-spending.

(7) "one point of contact records – too many managers implement the budget overrun – following (6) above – is the entire program manager with overall responsibility for the household, then at the same time each head part of the projects shouldresponsible for managing their part of the budget. This leads to a financial manager with a project manager to a single relationship.

To enable (8) aligned Deliver accurate and meaningful financial decisions. Less is more – agree on what is the reporting required by the project at the beginning and continually increasing, until they, what needs to manage the project for the program of work. As an accountant can provide 20 pages of analysis per month for eachProject that does not mean that it is correct – except the trees – to minimize the reporting and improve decision-making.

(9) Communications – have a close relationship between your project and financial manager. Money can not back office, they must become part of the project team and from that perspective, and therefore open and honest communication channels with no surprises.

(10) finances should be made aware of all potential risks / problems and likely costs – if a problemhas or may arise to finance early warning to fund what they can do to help to "be limited after the event."

IU Knowledge Pills: Business Model

December 20, 2009

Professor Ignacio de la Vega gives a general overview of the business models. He explains how to create a solid, diverse and stable revenue model. Learn more at IE Business Knowledge Pills IE Business School

Indian Business Academy Nursery Rhymes Rhymes to Corporate

December 1, 2009

Dr. Subhash Sharma, Dean, Indian Business Academy is a leading management thinkers and academics, has contributed in the field of management through his books – 'New Mantras in Corporate Corridors: From Ancient Roots Global Routes',' management New Age: Western Windows Eastern Doors', 'Creation from Shunya Arrows',' Quantum Rope 'and' time '. A Postgraduate Diploma holders from IIM-A, and Ph.D. from the University of Southern California (USC), Los Angeles, he has also …

Warehouse Inventory – How To Apply Professional Management Practices To Your Business

November 27, 2009

If you are interested in information about inventory management, then you will want to read this article. In particular, I will talk about some tips on how to best determine how much inventory, take stock, as well as other techniques to improve your efficiency.

The trick to stocks is always just enough on hand to meet the demand of the products. This is a simple theory but complex in practice.

This requires us to precisely know how much inventoryat hand to preserve the historical demand and the potential future demand of her, and how easy it is to your suppliers and how to organize the inventory in order to get maximum benefit from your camp.

If you take too much inventory, then you are bound cash flow, and enough space in your inventory to stock, that more can be profitably sold. By controlling the inventory, you want to minimize the total costs of inventory carried in the hand, so you can charge your cash flow for useother endeavors.

At the same time you must keep your customers happy by providing reasonable inventory to the offer. When getting a customer must wait to see what they want, they will either be unhappy if they get, or they go elsewhere. Both are situations that you want to avoid.

One of the best ways to stocks is to automate the process with the proper use of the software. Inventory software provides some functions that are competing hard to find.For example, you can instantly know all the different types of data that tracks the software, that before you were not privy.

By this data, which has historically been shown how much more you can make better decisions and you can quickly. At the same time, it frees the resources you have in the past devoted to tracking your inventory is often a reduction of labor costs. In particular, they will intersect on the resources of your constant attention,you release your stress and time for more important things in your company.

Finally, it should be tracking down, I'll give you a brief overview of the best route to your inventory with specialized software. Regardless of how you go about measuring your inventory, you need a system set up to have enough stock to meet demand, but not too much to commit resources.

Business Administration – Finance

November 22, 2009

to prepare a broad base of business skills that prepare students to successfully met the challenges and opportunities in the face of today's business world. Students build skills and knowledge in the following management disciplines: * Budgeting * Risk Management * Marketing * Corporate Finance Investing Credit Management * Supervision * * * Human Relations Successful employment in the economy requires a background in accounting, business law, economics, computer behavioral science, …

Business Knowledge Management

November 15, 2009

In recent years much has been written about Business Process Management, and the supporting technologies such as BPMS, SOAP and Web Services. Most of these theories, tools and techniques relate to the processes of a highly structured nature.

In general, BPM theorists and practitioners on highly structured processes have to concentrate, as back-office processes of industrial or administrative nature. These processes are highly standardized and reproducible way to create a consistent output and are likely to fully or partially automate end-to-end (STP). All process instances are executed in a very similar way and it is simply a detailed flow chart are executed in what order tasks draw on. It is also possible to formalize the business rules that guide decisions, usually on the evaluation of some process variables.

But recently other kinds of processes, the attention of process management specialists have obtained. They are known as> Knowledge processes and knowledge processes. Knowledge processes can be defined as "high added value, which depends on the achievement of the objectives to a large extent on the skills, knowledge and experience of people of their implementation. Some examples could be management, R & D, developing new products or processes.

Knowledge workers carrying out these processes by taking into account multiple inputs (generally a large amount of unstructured dataand information) to difficult tasks and complex decisions among multiple possible paths for the work, which means each different risks and potential benefits. They depend on people, and it is not possible to automate them.

An example of a knowledge-based process, "Marketing a new product." The same steps are followed each time a new product launched (benchmarking competitors, deciding, pricing, promotion planning, etc. ..), but it is theExperience, knowledge and intuition of the people, the efforts of the process to success.

* Several inputs to the process there

Some of them would be competition, lifecycle stage of the market, brand image, budget, etc. ..

* Complex decisions are made

There are many possible ways to achieve the objectives process (reach planned sales, use brand image, etc. ..)

* Means any decision, different risks and potential benefits

It is theResponsibility of the employee to choose the best (low price strategy, aggressive advertising campaign, etc. ..)

There are three essential characteristics, the knowledge of various processes highly structured processes to be made:

Emphasis is on communication instead of automation

The key to process improvement is clearly communicate process definitions (the way in which the company intends to processes) are carried out to those responsible for their execution (throughTraining, process descriptions publication, etc. ..). The better to understand the process participants to the process definition, the higher the probability that the process will be done for him.

You are better implemented through obtaining buy as an introduction to guidelines by

They are hard to discipline than administrative human-centric processes (even if some discipline is needed) to implement. It is better to focus on maintaining sales in the affected populationaccording to the procedures by early involvement, communication and management's expectations. It is a known fact that knowledge workers are willing to change their habits. Some say that knowledge workers do not like these methods because they think it limits their creativity, but most of the time they are like a procedure unless they see value in him to follow, seeing that it helps them work better and to produce a better process output.

Process Definitionshigh level descriptions instead of rigid workflows

Processes can be defined only up to a certain level of detail, and it is difficult to provide low operating procedures, or to automate decisions. Because they are not formalized in detail, process simulation is rarely possible. Decisions are highly subjective and too complex to be expressed in a formal language, since they are made based on intuition and not on rigid business rules.

It is extremely important to continuouslyImproved understanding of processes, by creating an environment through which they can develop. This can only be removed by the coordination of various disciplines such as knowledge management, change management, management's expectations, etc. .. There will be achieved is important to establish an adequate process context (the combination of technologies, processes, people, etc. .., that the processes) support. The process context must be integrated feedback mechanisms, change evaluation Procedures, process improvement and techniques and must be flexible in order to be able to incorporate enhancements in an agile but controlled.

If the process is instantiated frequently and the instances are more homogeneous, it is possible to process large models that dramatically improve the efficiency of the creating process. The best way for process improvement is ensured, to an environment in which people are motivated to inspire for creating process> Management.

Most of the time are knowledge collaborative processes. With the fulfillment of a process together, it is possible that each task is performed by the most specialized, experienced and competent personnel in this specific area. With a network of relationships within the organization is a very important factor for the people of the execution of knowledge processes.

In recent years, some organizations with the aim of creating professional communities around are out specific disciplines such as software development (SEI, ESI, etc. ..), Project Management (PMI), Business Process Management (BPMI), IT Service Management (itSMF), etc. .. One of the aims of these groups is to provide a knowledge that the discipline develop best practices in the form of frameworks, methods and models are created maturity. These assets are to be considered by any organization interested in knowledge process> Management.

It is common knowledge processes in the form of projects to manage their implementation. If the output of the process, a unique product, managing work as a project in hand is resulting benefits.

There are certain guidelines that an organization willing to help improve their knowledge:

* Process description of how the work should

Try to find out the best way to implement a knowledge-based process ofmake the existing best practices (in your company or your industry) explicitly. Publishing process definitions in a format easy to understand and consult.

* Provide tools to standardize the work and facilitate

You decide which tools to help run best knowledge workers their jobs. The inclusion of all affected knowledge workers in the process of deciding which tools to use is very convenient to obtain user buy in. It's a good idea to make a choiceMaster for each tool, which will master its use.

* Assign an owner, processes

Choose a person with leadership qualities and the right level of responsibility and influence and make themselves responsible for the continuous improvement of the process. Enter reach him / her a clear goal and to achieve an incentive to the target.

* Promotion of feedback for process improvement

To ensure that the information flow between the executor and the owner of the process is fluid, encouraging peopleContribution to improving the process by offering incentives. Use your imagination to reward contributors (consider not only) monetary incentives.

Business Intelligence: Accelerate Your Business Performance

November 13, 2009

Business intelligence is the process of gathering the information from the industry. The information collected will be converted into companies with business intelligence knowledge. Business intelligence will facilitate decision-making, helps in understanding the customer taste and market trends. To the business successfully one should have the comprehensive business knowledge and understanding of our business strengths and weaknesses. Business Intelligence will be heldInto account the internal and external factors of a company.

Business Intelligence Definition

The basic definition of business intelligence, "the process of gathering information about a company or industry matter; a wide range of applications and technologies for gathering, storing, analyzing and providing access to data that helps companies make decisions .

Business intelligence includes

Business Intelligence (BI) includes software applications, Technologies and analytical methods, the execution data analysis. Business intelligence covers data mining, Web mining, text mining, reporting and querying, OLAP, and data visualization.

Knowledge Management is part of Business Intelligence

Knowledge management is one of the methods in the field of Business Intelligence. Knowledge Management "has been the technology and tools to define host, organize, store, and make> Knowledge "Business Intelligence is a goal that propelled the company did. The duration of the target can short period or long period.

Business Intelligence Software

Business intelligence software, the user can integrate and analyze. Business intelligence software allows us to explore all the business information instantly and effectively. Business intelligence helps the company to access up-to-date and accurate information onbusiness success. The recognition and understanding of business opportunities in this vast environment requires much more than an understanding of technology trends.

Powerful OLAP BI software

The most popular business intelligence tool is OLAP (Online Analytical Processing).
OLAP (Online Analytical Processing) is a powerful, Business Intelligence & enterprise reporting application for small and medium-sized enterprises with the ability to fully integrate enterpriseInformation.

OLAPBrowser delivers incredible reporting power. Create global and enterprise information delivery systems, executive information Systems and personal analytical application.