The source of an advertising agency’s income: A manufacturer who operates out of a small and unpretentious office is often impressed (sometimes unfavorably!) by the obviously furnishings in the offices of some advertising agencies. Paying for part of the agency’s overhead, rent, payroll, etc. is naturally going to use up some of the money he spends for advertising. Should he spend his money through an agency, or should he spend that money direct and thus save the cost of the agency’s services? Questions like these are good questions, but the answer to them is often not as clear or simple as it seems. In order to answer them, attention must be focused not on the total costs of advertising agency service but on the additional costs, if any which the use of an advertising agency will involve as against the expenditure of the same number of advertising dollars on a Continue reading
Management Articles
Innovations in Customer Services in Banking Sector
Satisfied customers are the best guarantee for the stability and growth. Customers will be satisfied only when the banks provide the customized and innovative products and services at responsible cost. This article focuses on the kind of services provided by developed countries and level of innovative services provided by Indian banks. Many innovative services are currently available from Indian banks like E-Banking, ATMs, Anywhere Banking etc., but there is a vast scope of improvement. Globalization, the buzzword, which engulfed all the nations of the world since the beginning of the last decade of the past millennium, did not leave the banking industry untouched. The opening of the world trade has brought out several changes in the global banking map. The continuing evolution of the banking and financial market has created opportunities both for providers and for users of financial products and this evolution have proven beneficial to the economy. However, Continue reading
Relationship between Organization Climate and Organizational Behavior Models
Autocratic Model: The autocratic model of organizational behavior creates a climate in which the feelings of the workers are suppressed and they have to just be obedient and tolerative with the autocratic behavior of the employer. The personal relationship between the employer and the employee is not up to the mark. The labor turnover will be considerable when there is high dissatisfaction of the employees with their boss since they have no other alternative except to leave the job. In case of bottleneck in production or marketing, the employees simply keep mum and they never come out with suggestions for solving the problem. When the worker leaves his Job, he will burst out with his boss with thick words coming from his soul and he will never have an idea to re-enter the service. As far as autocratic model is concerned the workers sustain a tight organizational climate and they Continue reading
Challenges Faced by the Indian Outsourcing Industry
Though Indian outsourcing industry boast of a large pool of talent, low labor costs, excellent telecommunication infrastructure, a relatively mature domestic IT industry, an active industry association, quality certifications unmatched in the world and more, but it faces massive challenges which need to be overcome. The major challenges being faced by the outsourcing industry in India can be classified into internal and external challenges. The internal challenges include shortage of competent managers for the middle and senior management and the high attrition rates. The external challenge is in the form of opposition from the US politicians and the UK labor unions against shifting of the operations by local companies to India. The threat of real competition from other players like Philippines also exists, but doesn’t seem to need our immediate attention. There is an importance and value attached to the ‘people’ aspect in this service industry. The fact that this Continue reading
Importance of Leadership for Organizational Excellence
A leader is someone who exercise influence over subordinate and other people without using threats or power for the only sake of the benefit or welfare of the community or groups so chosen or elected him/her as their leader. It would not be meaningless to say that a leader is someone who influences others through motivation and people likes to obey him or her willfully not in compulsion. A leader is person who represents the urges and requirements of his community or group and his all actions are only for the welfare and benefits of his groups. Generally leaders are of two kinds’ formal leaders and informal leaders. A leader who is appointed as leader and has been delegated some power under the shelter of a particular rank or position to perform the particular object. A formal leader is not a natural leader because such leaders are selected or elected Continue reading
A Good Leader is a Good Follower
To differentiate leader from follower is difficult; they have several similarities as well as also have some differences. In leadership, one should have to take risk and lead the team; have ability to see opportunity that other cannot see. Both should be able to learn from someone or something. Leaders must be independent and isolated and should not rely on anyone but himself and have to be entrepreneurial and make workplace culture better by working with generous purpose. Good leadership is needed to solve problems and to navigate unexpected circumstances Followers only need to be competent during the battle and must be able to carry out orders by their leader, with their own ability while at other times; they have no need to be that competent. They could ask for help from their friends but in contrast, Leader cannot ask for help from his followers or else his followers would Continue reading