Success is the achievement of a desired aim, fame, wealth or social position. So a successful person is somebody who has been able to achieve an aim, fame, wealth or social position. A successful person is somebody who has been able to start a project (no matter how small it is) and see it to the end and should also have guided quiet a number of people to bring their own projects to completion. I believe this is a complete definition of success. A successful individual is the most powerful force for change and happiness on the face of the earth or in all of existence. A successful person achieves their goals no matter what they may be. Sure, success can be anything though, as long as it is a positively achievable ideal. Genuine achievement comes down to a positive ideal in every way that counts. Negative ideals are failure, Continue reading
Management Articles
Important Features of Japanese Management
The culture of Japanese management is generally limited to Japan’s large corporations. These flagships of the Japanese economy provide their workers with excellent salaries and working conditions and secure employment. These companies and their employees represent the business elite of Japan: qualification for employment is limited to the men and the few women who graduate from the top thirty colleges and universities in Japan. Placement and advancement of Japanese workers is heavily based on educational background. The students, who are not admitted to the most highly rated colleges, rarely have the chance to work for a large company; instead, they have to seek positions in small and medium-sized firms that cannot offer comparable benefits and prestige. The quality of one’s education and, more important, the college attended, play a decisive roles in a person’s career. The problem is that few Japanese attend graduate school, and graduate training in business per Continue reading
Changing Face of Outsourcing Industry in India
Starting in the mid 1980’s, the ways of doing business changed forever. The business world was for the first time introduced to the concept of ‘outsourcing’ whatever it thought was not core to profit making. Slowly, through the subsequent decades, we have learnt how to make a sharp demarcation between what makes profits for the business and what is simply undifferentiated cost. As time passed, most businesses came to understand that non-core activities i.e. those things that were not important to the money making machinery in a business could be given to someone else to do. It was a smart thing to do. One could get more time and investment to spend on ‘profit centers’ rather than diluting efforts with the time and management effort needed to manage ‘cost centers’. Moreover, simultaneously moving work to the low cost production locations helped to cut down costs further. This phenomenon gave us Continue reading
Just-In-Time (JIT) Method – Eliminate Waste and Improve Productivity
Just-in-time or JIT means producing goods and services exactly when they are needed, like for example a new company opens that is producing steering shaft for automobiles. The company, under the JIT system, will set up the machines to produce the jobs in a row from those who collect the metals at one end, all of the way to those who ship the product at the other end of the factory. The people at each station, as they receive the product, take the job order, perform their duties on the product, and then transfer the product out to the next station after their work is completed. Along the way, the product is screened for infirmities, and if they exist, the line is stopped until the defect is repaired. In the end, the shipping agent will receive the product and ship it to the customer. All along Continue reading
Four Important Types of Innovation
Innovation is defined as new ideas that work and a successful innovation can be achieved through the creation and implementation of new processes, products, services and methods of delivery which will result in significant improvements in the profitability and enhance the growth of an enterprise. An organization is considered innovative if it stirs up the marketplace, by creating competitive pressures and new opportunities. It has been recognized that innovation success in an established organization requires balancing the stabilized efficiency of the current market offerings and building new capabilities to create and develop offerings for unknown markets. There exist four types of changes to achieve strategic edge within an organization. Managers can use these four types of changes to achieve competitive advantage in the international environment. Each company can have maximum impact upon the chosen market through its own unique configuration of technology, product and services, strategy and structure, and culture Continue reading
Business and Globalization: National Differences Facing Operations
Working in another country or with an organization from another countries demands knowledge and consideration of their environmental forces in order to create a good strategic plan. To be successful in international business manager must be aware of the culture with which they deal. International operating companies must have a strategic management plan that takes in to consideration the real and potential forces in a foreign environment, as well as the forces at work in the domestic environment. A manager has to understand the new environment, which means understanding the people and their culture. Physical forces and geographic factors determine transportation and production cost. Mountains and deserts are barriers to the movement of people; ideas goods and services can be an advantage if the infrastructure is good. However, it can also be a disadvantage, because real estate and labor are more expensive. Another important area is legal considerations, both domestic Continue reading