Job Evaluation in a Business Organization

1. Definition of Job Evaluation

Job evaluation is the process used to measure the relative job worth of positions within an organization at a point in time. Job evaluation focuses on the actual requirements of the position, not on a person or their performance. Job evaluation measures the content/work value and not the volume of work. The work value of the position is dependent on a range of factors including the experience, skills and training required to perform the duties and responsibilities of the position.

2. Reasons for Evaluation Positions

            a) Positions are evaluated to establish internal relativities and to determine the appropriate classification level within the University’s applicable Industrial Instrument and this in turn establishes the salary range.

Some Secrets of Successful Presentations

The Challenges of Presentations

We are truly alone at two moments in life: when we are on stage delivering a speech, and when we die. No wonder people dread what is such a critical part of business life.

Many people detest making presentations. They suffer greatly before the "big day," sweating the content and their delivery, and agonizing about how they will be viewed professionally after the presentation.

Such angst is unfortunate, because with preparation and practice, delivering presentations can be a great way to advance a career and positively promote a company's message. And, dare I say it—it can even be fun!

Do You Really Know Your Customers? Marketing to a Rapidly Diversifying Population

The US Census Bureau will release the results of its 2010 census this summer, and marketers should prepare for some major demographic shifts. After reading a recent interview with Peter Francese, consultant to advertising megalith Ogilvy & Mather and author of the research report 2010 America, I was surprised to learn the following:

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Social Accounting- Accounting that Relates Society

Social accounting

Social accounting (also known as social and environmental accounting, corporate social reporting, corporate social responsibility reporting, non-financial reporting, or sustainability accounting) is the process of communicating the social and environmental effects of organizations' economic actions to particular interest groups within society and to society at large.

Social accounting is commonly used in the context of business, or corporate social responsibility (CSR), although any organisation, including NGOs, charities, and government agencies may engage in social accounting.

Social accounting emphasises the notion of corporate accountability. D. Crowther defines social accounting in this sense as "an approach to reporting a firm’s activities which stresses the need for the identification of socially relevant behaviour, the determination of those to whom the company is accountable for its social performance and the development of appropriate measures and reporting techniques."

Social accounting is often used as an umbrella term to describe a broad field of research and practice. The use of more narrow terms to express a specific interest is thus not uncommon. Environmental accounting may e.g. specifically refer to the research or practice of accounting for an organisation's impact on the natural environment. Sustainability accounting is often used to express the measuring and the quantitative analysis of social and economic sustainability.

Four Steps to Becoming a Social Business

Edelman's David Armano, an expert in idea conceptualization, has put together a chart that lets you graph your progress as a social media high-flyer in four steps: crawling, walking, running and flying. At which point might you find yourself? If you feel you're still in the crawling stage, never fear: We all know learning to fly doesn't happen overnight!

Let's break Armano's themes down, and consider some hints for moving up to the next stage:

Crawling: People, Process, Procedure. The first stage of evolution is admitting you have a problem, and acknowledging that it can't be solved by plugging "social media" into one function (marketing). Crawling involves producing infrastructure in preparation for an organizational redesign. Educating your teams, standardizing procedures and active listening are crucial at this stage.

Walking: Managing Your Properties. Define your engagement strategy across multiple departments, from customer care to outbound marketing. Assets such as meaningful content become especially important because they're less risky than over-engaging too quickly.

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Accounting as a Language of Business

Accounting: The Language of Business:

Accounting has been called the language of business. Throughout our early education we learned the vocabulary and other basic elements of the English language, or another language, so that we would be able to communicate effectively. The purpose is the same for accounting. Most of you will not become accountants. You may be self-employed or employed by others in a business (a manager, banker, or investor) and will use accounting information, whether you know it or not.

In order to understand and to use accounting information most effectively, you must have a solid grounding in its fundamentals. The finer points of accounting are things that you will probably never encounter in your business transactions, but you will know how to read those important financial statements and how to effectively use the material that will emanate from your computerized financial system.

Accounting information has been useful for hundreds of years. The double-entry framework was first described in a book written by Luca Pacioli, a fifteenth-century Italian monk and mathematician, although its origins can be traced back another 300 years. The formal structure for processing financial transactions is at least 700 years old.

Accounting as an Aid to Management

Accounting as an aid to management:

The main object of Accounting is to record financial transaction systematically in the books of accounts and to find out profit-loss and financial position of a business. Ascertainment of profit-loss and financial position, interpretation and analysis of accounts and statements, development of accounting system, collection of statistical and economic data, formulation of financial principles and financial planning and controlling result as per plan etc. are the main function of accounting. In the modern age accounting is directly related with financial management. The function of management are planning, organizing, collecting business elements, motivating, coordinating and budgeting etc.

Accounting helps the management in the following ways:

What is Accounting Information System? Who are the users of accounting information? How do they use it?

Accounting information: Accounting information as quantitative information about economic entities that are useful for making economic decisions in determining the choices between the alternatives of action. The use of accounting information for strategic planning, management control and operational supervision. Information is essentially financial accounting and mainly used for the purpose of decision making, supervision and implementation of corporate decisions. For financial data can be put to good use by internal and external parties, then the data must be arranged in the appropriate forms. Accounting information is classified into three types: (a) information operations, (b) management accounting information, and (c) financial accounting information.

The different types of journal entries

Journal: An accounting record where all business transactions are originally entered. A journal details which transactions occurred and what accounts were affected. Journal entries are usually recorded in chronological order, and using the double-entry method of bookkeeping.

Proper Management is the Heart of an Organization

As every gardener knows, plants are happy when they get the water they require, the same goes with management…..an organization functions effectively only if there is good management. Management is the dynamic life giving element in every organization. It is the activating force that gets things done through people. Without management an organization is merely a collection of men, machines, money and materials. In its absence the resources or production remain resources and never become production. The importance of management can be elaborated from the following points:

1. Meets challenges of changes
2. Achievement of goals
3. Optimum use of resources
4. Provides stability  Provides innovation
5. Provides coordination & establishes team spirit
6. Tackles business problems
7. Helps in personality development
8. Establishes sound industrial relations

According to George Terry, Ineffective management cuts at the very roots of an economy of an organization thus leading to disastrous consequences. This suggests the importance of efficient management in the case of business organizations

As Andrew Carnegie once remarked, “take away all our factories, our trade, our avenues of transportation and our money but leave me, our organization and in 4 years I will have re-established myself”. The essence of the above statement is that an organization is not the factories, trade, transportation, money or other physical resources. Instead, it is made up of the people or human resources that are linked together in a formal structure guided by management. There is no substitute for good management. Someone had said that “good management is the exercise of common sense”. The problem with this definition is that good sense is not as common as one might wish. From time to time, gadgets and short-cuts are offered to replace management practices. But at the best they only assist rather than replace good management. Management is an influencing process, i.e. it needs to influence the people within the organization to do the work as well as the people outside the organization to get the work done. An organization without management is like a body without its soul or a rose without its fragrance and color. Thus, to conclude an organization without an improper management cannot function effectively in good times but an organization with a good management can function effectively even in bad times.

Essentials of Report Writing: Application in Business

Essentials of Report Writing: Application in Business

Introduction

Organizations are becoming complex day by day. To survive in this modern age of globalization there is no alternative of an effective communication skill. Communication skill is one of the key managerial skills. As the business environment grows in its complexity, the importance of skillful communication becomes essential in the pursuit of organizational goals. Reports are one of the important forms of written communication frequently used in decision-making and in other organizational activities. In writing, a report is a document characterized by information or other content, consisted of inquiry or investigation, modified to the context of a given situation and audience. Reports are a highly structured form of writing often following conventions that have been laid down to produce a common format. The purpose of reports is usually to inform. However, reports may include persuasive elements, such as recommendations, suggestions, or other motivating conclusions that indicate possible future actions the report reader might take. Reports can be public or private, and often address questions posed by individuals in government, business, education, and science. Reports often take the structure of scientific investigation: Introduction, Methods, Results, and Discussion (IMRD). They may also follow a problem-solution structure based on the audience's questions or concerns. As for format, reports range from a simpler format with headings to indicate topics, to more complex formats including charts, tables, figures, pictures, tables of contents, abstracts, summaries, appendices, footnotes, hyperlinks, and references. An effective report can lead an organization to the tip of success. On the other hand, an ineffective report can lead an organization to the darkness of failure. In every organization, whatever it is a business firm or a non profit making charitable trust, a government agency or a hospital, a university or a crime investigating organization, all of them constantly needs and uses different types of reports everyday. In general, in an organization, the superiors ask the subordinates to write reports for different purposes. The task of report writing is often assigned on the executives. Therefore, to know the essential qualities of a good report, the process, the methodology and the purpose of report writing is very important for executives as well as the students of Business Administration because the students of this discipline are considered as the future executives.

China Becomes World's Second Largest Economy

Image Courtesy: BBC News: Business

Three Techniques for Real Innovation in Product Development

Product, price, place, and promotion are the four Ps of marketing. These days, however, there's a frenetic obsession with promotion, confusion about place, and a hectic battle over price. Amid the chaos, that first P is often overlooked.
When product development is considered, it's often done so in a vacuum of internal research and development (R&D) or as a reflexive response to customer requests. There's nothing wrong with giving the people what they want—but if that's all you do, you're missing the chance for major innovations.

Importance of Customer Relationship Management in Sales Cycle

 

If we look at the commercial world we may find that the significance of the retaining actual that is the existing customers and expanding the business by acquiring the potential customer is really very crucial. It would be found that the necessity of the retention of the existing customers could be very important if we look at the searching costs of the new customers and attracting them to the products of the business.