Key Performance Indicators are a type of performance measurement tool. It allows management to measure the performance of a company in a certain area such as profitability. KPIs can help a team to work together to achieve a common set of measurable goals, and provide a very quick way of seeing the actual performance of a goal or strategic objective. Key Performance Indicators are mostly use to monitor an operation or to measure focusing in the aspects of organizational performance which are most critical for an organization current and future success. Key Performance Indicators (KPIs) are used in order to assess the company’s performance in their business units, division, departments and employees. It is very helpful in providing evidence that certain results have or have not been achieved, enable achievement of intended outputs, outcomes, goals and objectives to be mad by decision makers, help in perceiving differences, improvements or developments Continue reading
Modern Management Concepts
Argument Mapping – A Tool For Improving Your Critical Thinking
Argument mapping is a way to visually show the logical structure of arguments, where “arguments constitute a body of evidence in relation to some proposition (an idea that is true or false)”. It does so by having the user break up an argument into its constituent claims, and use lines, boxes, colors and location to indicate the relationships between the various parts. Thus, a map is produced which illustrates why a particular conclusion was reached by clearly outlining its reasons and objections. The resulting argument map allows us to see exactly how each part of an argument is related to every other part. Typically an argument map is a “box and arrow” diagram with boxes corresponding to propositions and arrows corresponding to relationships such as evidential support. Argument mapping is similar to other mapping activities such as mind mapping and concept mapping, but focuses on the logical, evidential or inferential Continue reading
Organizational Development through Team Building
There are a variety of situations where new teams are formed. The project based, cross-functional work team has become the basis of industry in the 1990’s. Virtual team organization is rapidly becoming the model for flexibility and agility in organizing quickly and effectively to get jobs done. New teams usually have a clear task focus in the early going and there is usually a clear understanding of the short term goals. The new team members are also generally technically competent and there usually is a challenge in the project that will draw on their technical capabilities. While the early activities of a team are clearly focused on task and work issues, relationship problems tend do develop as they do in any human system. By the time these interpersonal issues surface the team may be well along in its activities. The issues may become very difficult and very costly to work Continue reading
The Technology Push for Knowledge Management
The concept of knowledge itself is not new, because the need and importance of knowledge has been the basis for the development of various cultures, philosophies and religions. What has really made it possible for people and even organizatins today to even contemplate harnessing knowledge energies for better management has been the rapid evolution in technology that we have seen over the last decades. The role of technology, particularly information technology in defining and revitalizing corporate strategy has evolved over the last forty years or so. In the 1960s and 70s, computers were confined to glass cabins and sometimes as departmental number crunches. Information strategy was always seen as something that would come in after the corporate strategy had been defined. It was only with the introduction of the personal computer in the early 1980s and the subsequent spread of the networking phenomenon that changed the role of information technology Continue reading
Innovation Theories: Bottom of the Pyramid and Dominant Design
The use of innovation for sustaining businesses have been in time since the advent of businesses themselves. The ability to exploit technological developments in order to solve real problems bring about value to the people using the businesses’ products or services. The value created by a business is the result of proper innovation taking place in a multi-faceted fashion in the spheres of technology and business administration. Hence, innovation theories are a concept to extensively address and analyze real world problems to get the most valuable benefit whilst the solving the problem. Creativity lies the in heart of innovation and it is a critical ingredient that catalyzes the process of value generation via the services and products of the business. Different innovation theories have been coined and discussed globally by businesses to strategically place their products or services in a way that helps their clients or customers the most. This Continue reading
What is Work Life Flexibility?
Work life flexibility is important to have an effective and productive work at the workplace. It is seen that there are various advantages on having flexibility in work life. Having an appropriate work life balance is also essential to have a healthy lifestyle and a successful career. Work life flexibility helps the employee to be more responsible towards his family and adjust himself in various situations. The traditional method of job is found to be from 9am to 5pm. This is usually found as working hours in office. However, this traditional method of office hours is dying with time. In the modern world, people think that this traditional method of office hours does not make any practical sense. It is seen in the modern world that both the parents of a family are working. They need to stay outside the house more than they can give time to their family. Continue reading