10 Traits of a Good Team Member

10 Traits Of A Good Team Member by Naseem Mariam W hat ATTRIBUTES do you look for in a team member? W hat is the mix of attributes, traits, skills, and talents that you should gather into your team? EXCELLENT TECHNICAL, PROFESSIONAL COMPETENCE Business projects require professional skills. If it is a shorter project (3 months) you should have a lot of TASK oriented, good technical experts on board; however if the project team is large (more than 8), the duration greater than 6 months then having a few SOCIAL oriented people on board would reduce the interpersonal- communications strain from the project team. GOOD INTERPERSONAL SKILLSEffective interpersonal communication is vital to the smooth functioning of any task team. COMMUNICATION skills — listening, written and oral, telephone, email — are an absolute must for each member. CONFLICT handling, negotiating skills are an added advantage. You need to know that each team member trusts, supports, and has genuine concern for other team members. SHARING, GIVING TENDENCY You want a team member who shares his knowledge and expertise FREELY with team members -shares openly, with honesty and integrity with others regarding personal feelings, opinions, thoughts, and perceptions about problems and conditions.You also want to make sure team members do not engage in one-upmanship. A perfect team member gives of his time, energy and heart to own and SOLVE the problems that arise during the course of the project. RESPECTS AUTHORITY Your aim is a team member who has an aura of AUTHORITY around him — who gains the respect of every team member, and who respects his boss, the Top Management of the organization, and the customers' managers. A good team member consoles and reasons with other team members and RESOLVES complaints of other team members with patience, understanding and empathy.Each person needs to understand and is be committed to team objectives. CARES FOR THE CUSTOMER A desirable team member is polite and courteous to everyone including the customers. He or she has real CONCERN and thinks of both short term and long term benefits from customer's viewpoint. Good team members negotiate well with the customer and the company's top management to ensure less stress and strain for the team. SELF-RELIANT, HAPPY, POSITIVE PERSONYou want a team member who is COMFORTABLE with himself — who respects himself and will not become a sycophant (insincere compliment giver, trying to get into boss' good books insincerely). Good team members are positively charged, full of ENTHUSIASM, and love for their work. They put in an honest day's work and are willing to cheerfully put in a few extra hours whenever the need arises. WELCOMES FEEDBACK A valuable team member encourages feedback on his or her own behavior — then takes the necessary CORRECTIVE and PREVENTIVE actions to ensure harmony, peace and joyful environment for project execution.FINGER ON THE PULSE He has a finger on th e pulse of the teams' feelings and concerns — he helps to fix the conflicts, NEGOTIATES between conflicting parties, and negotiates a win/win ending. This type of team member is aware of what goes on around him, is able to sense danger and steer the te am members onto happy solutions faster. DELIVERING ON COMMITMENTS You want a reliable, DEPENDABLE person who always keeps his promises and commitments.You need someone who informs both the customer and the boss well in advance when things go wrong -who DISCUSSES the issues and concerns and sets new commitments. INTEGRITY, HONESTY AND TRUST W hatever good qualities a person may possess, they are of no use to him or to anyone else when he does not have integrity of character. Integrity is being true to O NESELF, honesty is being true to OTHERS. He should be trust worthy and trust others with his eyes open. He is able to evaluate phonies and insincere people a mile away.

Implementation of an Information System for a Financial Institution

INTRODUCTION Background Ribeiro and David (2001) state that information technology over the years has had a number of significant impact on organizations. Such impacts are: †¢ It has created opportunities for competitive advantages amongst competitors in any industry †¢ It has improved the relationship existing between customers and organizations †¢ It has helped with the development of new products as well as services †¢ It has allowed organizations to perform tasks which would have remained impossible without the use of a computer system. It has reduced the total cost incurred in transaction processing for banks and other financial institutions. History of the I. T manager Having applied for the post of the I. T systems manager, listed below are my qualifications and information about my past work experience: †¢ A master’s degree in Information systems with technical background in Windows Server and Desktop technology †¢ Professional qualificati ons in CISCO and MCSE with an understanding of some server grade applications including IIS, Apache, SharePoint, DNS, SQL and Foundstone Reasonable knowledge of large enterprise LAN/WAN environments †¢ 8 years experience in project management, leadership and organizational skills †¢ 7 years IT managerial experience in other financial institutions †¢ 5 years experience with client technologies †¢ 4 years working experience developing effective IT for financial institutions History of Progress bank Progress bank was established in 1999 and up till now does not have any I. T department in place. Their customer base is relatively small as well as the number of staff. Recently, it mergered with another bank in a bid to make it stronger and this has led to increased operational activities, increased customer base and more staff and a decision to introduce and implement an effective I. T department for the bank. The board decided to set up the department in order to ease their work, to allow free flow of communication between the various departments, to hasten decision making processes, to improve the turn-around time in their daily operational activities. The board members of the bank want the I. T manager to report directly to the Head of Operations of the bank. About 10 – 12 information technology specialists would be required to work with him in the new department and the roles and responsibilities are to develop, maintain and support the banks cash and commercial product management systems, to reconcile accounts, to manage the cash systems and control disbursement of funds. Some recruitment consultants were consulted to help out with the recruitment of appropriate candidates and so far, 8 people have been recruited to work with the I. T manager. These people include network technicians, network assistants, and network engineers. Responsibilities of the I. T manager The major tasks and responsibilities of the I. T manager have been identified to be: 1. Development of an information system for the bank. 2. Coordination, monitoring and supervision of the supporting staff for the development, designing, coding, maintaining and modifying application programs for a limited area and small number of projects. 3. Extensively working with the business units of the bank in support of their business processes, electronic business communication and also transactional needs. . The provision of analytical support for applications-related activities including customer experience, marketing, technology, human resource and also the operations department. 5. Leading the deployment of advanced information technology solutions relating to commercial product needs. 6. Recommendation and suggestion of strategies as well as hardware and software enhancements to increase employee productivities. 7. Administering, recommending and im plementing changes to policies that affect the employees of the various departments. 8. Making the flow of information within the organization easier and faster through the development of the intranet. 9. Making communication a two- way thing i. e. vertical and horizontal. 10. Developing a customer database for the bank. 11. Selecting, developing and evaluating personnel to ensure the efficient and effective operation of assigned functions. 12. Ensuring that the project budget, schedules and performance requirements are completely met. 13. Regular interaction with customers and some peer group managers. 14. Ensuring that the organization operates fully in accordance with the established procedures and practices. How to measure the implementation success The success of the implementation of an information system can be measured by taking note of the following: i. User satisfaction with the system or with the outcomes of using the system. ii. Favorable attitudes on the part of the users towards the system. iii. The overall payoff to the organization. iv. The extent to which the system accomplishes the organizational objectives. Limitations The major limitation to be considered is the cost. It would be costly for the organization to fully introduce and to implement an effective information system. A major factor to be considered is the need for training and development of the existing members of staff of the organization. Training and development sessions, on-the-job training, meetings and discussions need to be arranged for the members of staff in a way that it would not interfere with the day-to-day operational activities. The whole process of change may be a cumbersome one for the employees because they would have to transfer the information and data from the various departments from files which were their major form of storage to the computers. INFORMATION SYSTEM This refers to the interaction between people, processes, data and technology. It refers to the way people interact with technology to support the business processes. Information systems are different from the information and communication technology (ICT) and also from business processes although it has an ICT component and it also helps to control the performance of the business processes (Zhu and Meredith, 1995). An information system can be defined as a work system involving activities that are necessary for the processing (capturing, transmitting, storing, retrieving, manipulating and displaying) information (Wang and Strong, 1996). An information system can be considered as a semi-formal language that supports decision making as well as actions. Components of Information System There are different components of the information system and they include: i. I. T comprising of the hardware and the software. ii. Data/ Information. iii. Procedures/Policies. iv. People. v. Purpose and vi. Communication Networks. Hardware Standards There are different standards of computer hardware, the hardware consists of the things that can be seen. The standards will be reviewed and revised occasionally based on the emerging desktop technologies and development in software (Avgerou, 2001). It is recognized that in the bank, the ability to share vital information easily and quickly is very important. Apart from the quick sharing of information, the software environment is also important especially those used for word processing, databases for the customers, spreadsheets, network browsing and electronic mail. Therefore, the development of a wide computing infrastructure which is based on good hardware and software standards will improve the day-to-day operational activities and interactivity between the various departments of the bank. The standards would also help facilitate the quick exchange of information as well as important documents both within and outside the bank. According to Stair and Reynolds, the hardware standards are based on the present technology that is available in addition to the present needs of the bank which then applies to both the windows and the mackintosh platforms. However, for each hardware configuration, some considerations have to be made which include: i. Easy connectivity to the bank’s network. ii. Easy connectivity to the external systems and other organizations. iii. The in-house experience with the chosen product and the configuration. v. The maximum period which the machine can effectively function. v. The presence of service provided by external hardware repairers. Different types of computers can be purchased but regardless of the type purchased, the minimum configuration should be: i. Intel core 2 Duo processor. ii. 2 G RAM because we’ll be using windows Vista. iii. 60 GB hard disk. iv. CD – ROM/DVD drive. v. Network connection. vi. 3 years warranty. Because of the nature of the tasks performed by the bank, there will be a need to archive data, so a DVD+R drive is recommended. Recommendations on what to purchase Monitors: Flat panel monitors with high resolutions are recommended due to cost constraint, but as time goes on, we could change them to dual monitors. Printers: HP Laser jet P2015dn (monochrome) and HP Color Laser Jet 2605dn (color) is recommended. Scanners: USB scanners are recommended. Other Peripherals such as Modems, NICs and Drives: From previous experience, a personal relationship has been developed with MNJ Technologies Direct so it is recommended that supplies be purchased from them. Software Standards The software standards have a lot of advantages and these include: 1. An improved data sharing to ensure: . The sharing of data between applications such as word processors, databases, spreadsheets and so on. b. That there are identical resources on each of the desktop to provide easy transfer of information and to serve as a consistent tool-set for all the bank workers. c. A consistency of file format to provide optimal file sharing between individuals, units and departments within the organization. 2. An improved training which focuses on: a. Team training in various courses and workshops for different levels of user proficiency i. e. the introductory, intermediate as well as the advanced stages. b. Computer – based training courses which is centered on selected software packages. 3. An improved support from the I. T support staff to focus on: a. The depth of knowledge of application instead of the breadth of the large number of applicants. b. Product expertise. 4. Smoother software installation and upgrades to ensure: a. The proper installation of the different software for the new computers usually making it a part of the initial hardware installation. b. That routine installation is made instead of a specialized process for each individual resulting in maximization of time and resources. c. That upgrades are tested and properly documented in order to reduce potential incompatibilities. Types of software standards 1. Fully supported software: it is my responsibility as the I. T manager to ensure that the appropriate software is installed, to troubleshoot software problems, to provide training courses and to provide the documentation of selected packages. Office productivity suite includes Microsoft word, Microsoft excel, PowerPoint, Access, and MS Office. i. Electronic mail/calendar ii. Web browser which includes internet explorer 6, safari 1 (Mac OS 10. 2), Firefox 2. iii. Web course development : Desire2Learn. v. Web page development: Dreamweaver MX. v. Image Editing: Adobe Creative Suite 2. 0. vi. Operating Systems: Windows XP and Windows Vista. vii. File transfer: Transmit, Filezilla 1. 7. viii. Other utilities: PowerArchiver 2000, Norton Antivirus 10. 15, Print Key 2000. ix. Network operating system: Netware 6, Microsoft server. x. Network clients: Netware client 4. 9 SP2 (Win XP). 2. Partially supported software: This may include some versions of the fully supported software and in some cases; it includes a new release of a standard application. These includes: i. Mathematical software: Maple 10, Matlab 2006. i. Telnet: Host Explorer (Telnet) 4, Putty (Win). iii. Operating systems: Windows 2000, Mac OS X 10. 3. iv. Statistics: SPSS 15. x, SPSS 12. x, Minitab 15. x. v. Office productivity suite: MS Office XP. 3. Non- supported software: these are some software that the I. T will not install nor provide follow-up support for because they are considered as obsolete. Examples of these include all Microsoft DOS and Windows 3. 1 based software. 4. However, changes will be made regularly by the I. T department to the computer hardware and software standards and this will be communicated to all members of staff. Sufficient time will be allowed for the migration to new standards; changes will also be made regularly to the hardware configurations as technology and prices change and would also be communicated to all members of staff. Operating systems Operating systems are the most important software which runs on the computer. Without it, the application software which is designed to communicate with the hardware through the operating system cannot run. There are different types of operating systems and these can be classified into: a. Single program operating system and . Multi tasking operating system The single program operating system is a type of OS that allows only one program to run at a particular time. This was later converted to the multi tasking operating system because it was found out that it was time consuming and not very practical and professional to close one application in order to open another one especially if you want to copy or transfer data from one application to anothe r. The multi tasking operating system is a type of OS that enables a single user to have more than one applications open at the same time. It usually gives the computer the option of determining how many time slices will be allocated to each program. The main program gets the most and the rest is distributed to the remaining programs depending on their rates of activity. There are basically three types of the multi tasking operating systems. These are: Single user multi tasking systems, real time operating systems and the multi user operating system. The real time operating systems are usually used to control scientific instruments, industrial systems and so on. The user has little control over the activities performed by this type of system. The single user multi tasking system allows a single user to open and run different applications at the same time. Examples of this type are Windows of Microsoft and the Macintosh of apple. Multi user operating systems are systems that give access to the resources on a single computer to many users at the same time. An example of this is the UNIX. However, the operating system that is commonly used are Windows 95, Windows 98, Windows Me, Windows NT, Windows 2000, Windows XP (coming in two versions as the home and the professional), Windows Vista, Windows CE, Apple Macintosh, Unix, Solex etc (Charette, 2005). Network Security The computer networks can either be public or private. They are used daily to conduct transactions and to hasten communications amongst individuals, business and groups within an organization. The networks comprises of ‘nodes’ which can be referred to as ‘client’ terminals and one or more ‘servers’ or ‘host’ computers. They are usually linked by communication systems which could be private which could be used within a company and public which can be accessed by members of the public such as the Internet. However, due to technological advancement, most of the companies host computers can be accessed by employees within the offices over a private communications network outside the offices through normal telephone lines (Tatnall et al. , 2002). Network security can then be described as involving all the activities that the various organizations, institutions, enterprises and so on take to protect the value of their assets and the integrity and continuity of their operations. In order to make the network secure, threats should be identified and strategies put in place to combat them by making use of the different network security tools. Threats to network security There are different threats to network security and they include: a. Viruses: these are computer programs that have been written by programmers with the aim of infecting computers when triggered by a certain event. b. Trojan horse programs: these are delivery vehicles for destructive codes which could appear as a harmless software program or as a useful one. c. Vandals: these are some software applications that can destroy the computer. . Attacks: This could be information-gathering activities which collect data that is used to compromise networks, access attacks which exploit network vulnerabilities gaining entry to e-mails, databases and the corporate network and denial-of-service attacks which prevent access to some part or all parts of the computer system. e. Data interception: This involves the altering of data packets that are being transmitted. Some network security tools that can be put in place include: a. Antivirus software packages: These are used to counter most of the virus threats. They need to be updated regularly in order for it to be effective. b. Secure network infrastructure: firewalls and intrusion detection systems provide protection for all the areas of network hence enabling secure connections. c. Virtual private networks: these are used to provide accessibility control and data encryption between different computers on a particular network. It allows the safe connection of workers to the network without the risk of someone else intercepting the data. d. Encryption: these are used to make sure that messages cannot be read by anyone else other than the authorized recipients. . Identify services: are services that identify users and control their activities as well as their various transactions on the network. Services used here include authentication keys, passwords etc. However, no single solution can protect against the variety of the afore mentioned threats, as a result, multiple layers of the security tools should be put in place. Network security i s usually accomplished through the hardware as well as the software, with constant update of the software to further protect from the emerging threats. In order for the network security system to be effective, it is important to note that all the network security tools work hand in hand to minimize maintenance and to improve security. Client Server Computing Client server computing can be defined as a distributed computing model where the requesting of services from the server processes is done by client applications. Here, both the clients and the servers run of different computers that have been interconnected by a computer network. Basically, it is server software that accepts requests for data from the client software and returns the results to the client. The major focus in client-server computing is on the software. A common example of the client-server computing is the use of the internet which could be the collection of information from the World Wide Web. However, client server computing generally applies to systems in which the organization runs various programs that have multiple components distributed amongst different computers in a particular network. The concept is linked with the enterprise computing which ensures availability of the computing resources. Client server systems are important and useful in the banks because it allows easy accessibility of account information on a central database server amongst other things. This will be very useful in the day-to-day operational activities. All the access is done through a PC client which provides a graphical user interface (GUI). Data such as the individual account numbers can be entered into the GUI along with the different types of transactions made on the account be it withdrawal or deposits. The PC client validates the data, transfers it to the data base server and eventually displays the results. Client Server Toolkits It has been observed that a lot of software toolkits for the effective building of client-server software are available today. These toolkits are referred to as middleware and examples are the Open Software Foundation (OSF) Distributed Computing Environment (DCE), Distributed component object model (DCOM), Message-Oriented Middleware (MOM) and the Transaction processing monitors (TPM). Data Base Management System This is a collection of programs that enables effective storage, modification and extraction of information from a database. Its primary goal is to provide an environment that is convenient and efficient for the storage and the retrieval of information. Different types exist which range from small systems running on personal computers to huge systems running on mainframe computers. Examples of database management system are Microsoft Access, My SQL Server, Oracle and FileMaker Pro. Examples of the use of the database systems include: †¢ Automated teller machines(ATM) †¢ Computerized library systems †¢ Computerized parts inventory systems †¢ Flight reservation systems Employee information systems †¢ Company payroll †¢ Credit card processing systems †¢ Sales tracking systems and so on The internal organization determines the ease and flexibility of information extraction. The requests for information from a database are made in form of a question. This information can be presented in different formats. The database management system includes a report writer program which en ables the output of data in the form of a report; some also include a graphics component which allows the output of information in the form of graphs and charts. The major purpose of a database system is that it provides users with an abstract view of data. Data is usually stored in complex data structures bit users see a simplified view of the data. Model View Controller Model view controller is a design pattern that is used by applications which need the ability to maintain multiple views of data. It focuses on a separation of objects into three categories such as: †¢ Models: for the maintenance of data †¢ Views : for the display of all or a portion of data †¢ Controllers: for the handling of events affecting both the models and the views. Due to the fact that it can be categorized, there can be interactions between multiple views and controllers with the same model and there can also be interactions between new views and controllers that were never in existence with a model without necessarily forcing a change in the design of the model. Model view controller can be represented graphically as shown below: [pic] The controller can change a model or a view or change both due to certain events. When a controller changes the model, all the dependent views update automatically and similarly, when a controller changes a view, the view gets data from the model to update itself. Enterprise resource planning (ERP) This is a term that is used to describe the set of activities supported by multi-module application software that helps businesses and companies to manage the important parts of its business. It is a package that promotes the seamless flow of information in any organization. The information from the ERP system provides visibility for key performance indicators that are necessary for meeting corporate and business objectives. ERP software applications are useful in managing product planning, providing customer service, purchasing, inventories and tracking orders. Enterprise resource planning includes application modules for the finance and the human resources aspects of any business. Typically, it has both modular hardware and software units that communicate on a local area network. This allows a business to add or to reconstruct modules while preserving the integrity of the data. Some of the players in the ERP market are SAP, PeopleSoft etc, while the new comers include Oracle, IBM and the Microsoft. Before an organization implements the ERP, certain issues need to be addressed and they are stated below: †¢ The popular information systems †¢ Fluctuations in the choice of technology The ability of the market players to stay in tune with ERP †¢ The effective ways to implement business applications like ERP †¢ Ways to benefit from it in order to lead to competitive advantage †¢ The necessity for the innovation of software applications All these are important to take note of and will eventually determine the business mod el of the organization. The implementation of ERP is a very crucial factor in the ERP system. The success of a good ERP implementation lies in quicker processes making training very important. The speed and extent of the training eventually determines the worth and the value of the ERP. Decision Support System This is a term that describes computer applications which enhances the user’s abilities to make decisions. It describes a system that is designed to help decision makers identify problems and to make decisions to solve those problems by using information from a combination of raw data, personal knowledge, business models and communications technology (Hanna et. al, 2003). Information that can be gathered and presented by a decision support is: †¢ Comparative sales figures from one period to the other †¢ Projected revenue figures which are usually based on assumptions on new product sales A stock of all the current information assets which could be data sources, data warehouses, data marts etc. Components of Decision Support System According to Bhargava et. al,(1999), the components of Decision Support System can be classified as: †¢ Inputs: which include numbers and characteristics that are used for analysis †¢ User knowledge and exp ertise: which are inputs that require manual analysis by the users †¢ Outputs: which are transformed data that aid the generation of the DSS decisions †¢ Decisions: these are the results generated by the DSS Applications of Decision Support System Decision support system can be used and applied in various fields. Some of them are stated as follows: 1. It can be used for medical diagnosis in the clinics. 2. It is used extensively in business and management to allow faster decision making, better allocation and utilization of resources and the early identification of negative trends which could pose as threats to the organization. 3. It is used in agricultural production systems to facilitate decision making at the farms and at policy levels. 4. It can also be used in forest management for long-term planning. 5. It can be designed to make useful decisions in the stock market or even in the marketing department of the banks to decide which segment or target group to design a product for. It is basically useful in any field where effective organization is necessary. Benefits of Decision Support System Some of the benefits of an effective DSS include: 1. It helps to create competitive advantage amongst an organization’s competitors. 2. It facilitates interpersonal relationships between the employees of a particular organization. 3. It increases control in an organization. 4. It speeds up the process of problem-solving in an organization. . It recognizes the importance of training and development within an organization and it promotes this. 6. It encourages innovative thinking as well as discovery of new areas of the decision maker hence improving motivation of the employee CONCLUSION It is worthy to note that the implementation of an effective information system is a continuous process t hat starts from the period the original suggestion was made and continues in the system as new users are introduced. Implementation plays a major role in the management of information technology and as such steps should be taken that it is done properly. REFERENCES Avgerou, C. , (2001). The significance of context in information systems and organizational change. Information systems Journal, Vol 11, pp 43 – 63. Bhargava, H. K. , Sridhar, S. & Herrick, C. (1999). Beyond spreadsheets: Tools for building decision support systems. IEEE Computer, 32(3), 31-39. Charette, R. N. (September 2005). Why software Fails. IEEE Spectrum. Hanna, M. M. , Ahuja, R. K. & Winston, W. L. (2003). Developing spreadsheet-based decision support systems using VBA for Excel. Gainesville, USA: Innovation Center. Ribeiro, L. & David, G. (2001). Impact of the information system on the pedagogical process. Stair, R. M. & Reynolds, G. W. (1999). Principles of information systems (4th ed. ). USA, Course Technology – ITP. Tatnall, A. , Davey, B. , Burgess, S. , Davison, A. & Wenn, A. (2002). Management information systems -concepts, issues, tools and applications. Melbourne: Data Publishing. Wang, Y. and Strong, D. M. (1996). Beyond Accuracy: What data quality means to data consumers. Journal of Management Information Systems, 12, pp. 5-34. Zhu, Z. and Meredith, P. H. (1995). Defining critical elements in JIT implementation: a survey. Industrial Management and Data Systems, 95(8), pp. 21-29.

11 Ways to Source for Funds for a Start Up Business in Nigeria

11 Ways to Source for Funds for a Start Up Business in Nigeria In this country, a lot of entrepreneurs wishing to begin a new venture go through lots of problems just trying to get their businesses running. One such problem is getting funds to start that business. This has been a major drawback for most intending business owners in the country today. While it takes some people a short time to achieve this, it takes others a long period to get what is required to kick start their businesses. In this article, you will discover 11 brilliant ways you can acquire the money you need for your emerging venture. Of course, you know all that relates to business has its upside and downsides so here you will see why you should use that source and also some disadvantages that come with it. Ultimately you are the one to decide which option to go for so knowing everything about the varied options available is necessary. The different ways are: Money you have saved up: While thinking of beginning a new business, thoughts of getting the money you need would have played out in your subconscious. So, how much money do you have in your savings? This is the first action plan that is necessary for you. Once you know how much you have, you will then be able to conclude if you require more money or not. What you currently have will determine what you will ultimately need in the long run. The upside is: A huge chunk of this saved up money will be very useful in getting some needed things for your business. The downside is: It may not be enough to even start up You might have other responsibilities that need to be taken care of. Close friends, close family members and relatives: One other way to get fund sourcing for your business is by asking friends that are close to you and also family members and relatives. These groups of people understand you and should be in a better place to give you the assistance you need to get your business on its feet. So before embarking on other means, try doing this and I am sure you would get at least more than half of what you are looking for. The upside is: They might be able to assist you to an extent They may give you the right push you need to start off They will encourage you even if it looks difficult to implement The downside is: What you get from them might not be sufficient Some of them will discourage you and try to discourage you from pursuing it You may not even get any help from them Business grants: Are you aware that there are now so many business grants available for Nigerians who either already have established businesses or just want to begin? If only you have the right information at the appropriate time. A lot of Nigerians are now benefitting from these opportunities. Examples of some recent business grants are: The entrepreneurship programme organized by Tony Elumelu; otherwise known as TEEP. The programme organized by YouWiN. The entrepreneurship programme organized by Bank of Industry The trust fund programme organized by Lagos State; also known as LSETF The programme organized by AYEEN which is Africa’s Young Entrepreneurs. All these and more are there for Nigerians to participate in. As long as you are a Nigerian and are at least 18 years old and you have a realistic business idea, you can apply for them. Aside these, there are also business events that take place from time to time in various cities in Lagos. The just concluded â€Å"Fashion Souk† that took place at Harbour Point, Lagos is one of such examples. Entrepreneurs had the privilege to show case their business pitches and some of them were given grants of up to N200, 000. So with this, you can see that the chances out there are endless; just know where they lie and tap into them. The upside is: These options are many so you choose the one to participate in The money given will be able to settle some business needs The grants given differ; some amounts are higher than some The downside is: Your business pitch might be rejected Your applications may be rejected more than once The money may not be enough (but really is money ever enough for anyone?) Getting loans from microfinance banks: Most microfinance banks give out loans to small scale businesses. You can approach them and with your business pitch, collateral and guarantor you should be able to acquire loans for your business. Also know that they would include interest rates when you are paying back the loan. The upside is: Getting loans from such facilities would be a relief to you and your business The downside is: The interest rate might be pretty high Their deadlines for payment are usually strict. You must pay early enough or face the consequence. Loans from banks: Are you aware that there are some Nigerian banks who give out loans without asking for collateral? It is as easy as that; once you present your business plan, go through some tests, you will be able to apply for such loans. Although the banks all have their different processes and requirements for it. The banks are Heritage bank, First bank, Diamond bank, WEMA bank, and Stanbic IBTC bank. For more information on this, it would be nice if you visit them. The upside is: It is a relief to be able to get loans without having to drop any form of collateral The downside is: You do not know how long it would take to actually receive the loan you want Partnerships: There are certain business moguls you could partner with to enable your business take full form. It could be a friend who has an established business and has some forms of experience already. When forming partnership with someone, a lot of paper work is done so there is no abuse of agreement. This partner could provide what is needed in the early stage of the business or he could just add to what you have. The upside is: This business partner will support you both financially and materially depending on the business arrangement you both have. The downside is: He might want to have a share percent of the company when it finally picks up or starts making profit. Money contributions: A lot of people now engage in daily or weekly contributions to help with their financial needs. This is usually done by a group of people who contribute a certain amount of money based on the arrangement they have. At the end of the month, someone takes away the bulk of the money while others take theirs in subsequent months until everyone has collected and then the cycle continues. This could be a source of fund for your start up business. The money you collect when it gets to your turn could be very helpful. The upside is: This contribution will be helpful as you are sure of getting a specific amount at a specific time. You can decide to collect your share earlier than when you are meant to. By doing this, you can have an arrangement with someone else to collect in his place instead so you can use the money for your business. The downside is: You might be disappointed as not everyone might fulfill their contributions You might not be able to collect earlier than someone else because they might also need it at the time If the people in the group are not trust worthy, they can abscond with all the money. Cooperatives: People join cooperatives for many reasons; some join so that they can buy lands with the accumulated money gotten, others want to buy cars or start businesses. To be able to get money from them, you should have been a member for some time which allows you borrow a specific sum for a duration. There are lots of advantages by being a member of a cooperative and so if you are not already a member of one, you might want to think of joining so that when the time comes, you will know where to go to get funds. The upside is: Cooperatives are more structured and are systematic and so it would be hard for your money to be stolen There is accountability for allocation of funds Crowdfunding: This is another unique way of getting business funds. If you are able to post an appealing business pitch on the internet for people to see so they can invest in your business, you will probably get what you want. By doing this, it is highly possible to meet genuine people that like what you intend doing and want to be major investors in your business. It is worth trying out as you never know where your funding will emerge from. The upside is: You might get help from where you do not expect it You will be surprised at the number of people interested in your business and want to invest in it The downside is: People may shun you and give you reasons why you should not start that business Sell your valued property: What valued property do you have that could earn you some money? There are people who sell what they have just so their business can run. If you are desperate to begin your business, I am sure you would want to do all you can to ensure this happens. It is therefore not a bad idea to sell what you have because you can always buy it back when you stabilize. The upside is: The money gotten from the sale of your items will go a long way in settling some aspects of your business The downside is: You may not begin making instant profit for you to replace your items that is if you really want them back. Angel investors: Do you know that there are some investors who are ready to give you the capital you require to begin your business? All they want in return is some form of ownership equity. If you are willing to agree to this, then this option is for you. So which of these options will you choose? Some people choose one or a combination of more than one option which works for them. It is left to you to decide which to go for. You have seen that each option has its advantages and disadvantages so weigh them and pick the one that suits your business more. These 11 ways to source for funds have worked for a lot of businesses today and they are doing quite well. So, choose wisely!

Cuba As An Example Of Sustainable Living Essay Example | Topics and Well Written Essays - 2500 words

Cuba As An Example Of Sustainable Living - Essay Example The country has relied on aid for several years in the past years, but due to its political inclination, it benefited a great deal from the collapsed Soviet Union. The Soviet Union used the country to propagate their ideology especially as a way of countering the American capitalism dominance. Since the attainment of independence in 1902, the republic of Cuba has passed through economic stormy periods characterized by its radical politics and social strife. The period of dictatorship characterized by the leadership of Fulgencio Batista before 1952 almost brought the country on its economic toes. The ousting of the dictatorial regime saw the full fledge of communism under Fidel Castro who gave more focus on military strength and less concern over the people. However, several economic developments were experienced during his tenure; some of the ideologies developed favoured the entire population at the expense of individuals. The Cuban population today relies mainly on food from Venezu ela after the collapse of the Soviet Union that provided him some good support. Cuba does not provide the best example of sustainable living because a century after independence the country still relies on foreign food aid coupled with a huge foreign debt and several other challenges. Cuba’s dark past was evident with the inability of the governments to enact concrete and sustainable economic policies to help the country get to an economic destiny. Fulgencio Batista turned the economy of Cuba upside down through his dictatorial regime. In 1959, he was overthrown by the July 26 Movement that was under the leadership of Castro (Coltman 1). They took over the country and imposed a purely communist regime. He received massive support from the Cuban peasants and workers because of the humiliation that they had faced under the ousted regime. The revolution brought up many changes, by 1960 Castro’s regime had expropriated up to 37% of the entire nation’s land and later on decided to nationalize the land, which stood at up to 80%, this was a landmark achievement because there has never been another country in the world to successfully implement such a policy. Most of the big companies and well established businesses were all nationalized resulting into suspicion by foreign countries especially the United States whose companies had been nationalized. It was reported that approximately sixty-one American sugar mills were victims of the new development. Largely, the nationalization policy did not find a solution to the predicaments of the poor workers but instead extended the exploitation (Uriarte 3). State apparatus were established that had control over the population’s social, economic and political life, a factor that not only attempted to make all people equal but also ruined the labour compensations turning them even more exploitative. The state apparatus created a lot of bureaucracy, Castro and his brother, Raul together with the July 2 6 Movement members were the dominant figures in dictating the policies of the country. The state owned all property that was being worked on by the members of the public who received poor wages, they had no option since the land and firms were purely owned by the state. The oppressive state apparatus were advanced by the establishment of the Ministry Of Industry in 1961that looked into policy

A strategic pretext for Knowledge- Michael Zack Essay

A strategic pretext for Knowledge- Michael Zack - Essay Example Zack firmly holds his stance when he says that proper & timely ‘knowledge management’ is essential for the successful implementation of a strategy, & henceforth essential for the growth & survival of any organization. He demarcates instances when organizations have accepted & attempted to use the notion of ‘knowledge management’, but failed due to the mismanagement in the ‘procedure of usage’. In this discourse, he dives in to explain the procedures of a successful usage of this unique strategical technique. The writer gives a set of guidelines, norms, decorums & procedure, through which this notion can be materialized from theory to practicality (Zack, n.d., pp.1-2). The author begins with a concise appraisal of traditional strategy & how these concepts can be extended to knowledge as a strategic foundation. The writer denotes that his primary objective is to provide a framework for initiating & facilitating dialogue among strategic managers & KM practitioners concerning the exact strategic function of knowledge. Zack creatively divides the notion of strategy in to four parts: strengths, weaknesses, opportunities, & threats (Zack, n.d, pp.1-2). He calls the quartet by name of SWOT by adding up the abbreviations of all the words. This uniqueness of the Zack’s evaluation makes the notion of KM even more interesting a topic to delve in. Zack emphasizes by saying that a SWOT analysis discovers a firm’s strengths & weaknesses in relation to the opportunities & threats of its existing environment. The discourse advices firms to take strategic actions to restore strengths, counterbalance weaknesses, avert threats & capitalize on opportuni ties. For Zack, proper strategical notions are the perfect balancing acts which could rescue a company from the jaws of annihilation (Zack, n.d, pp.1-2). Zack suggests division of the SWOT framework in to two

Quality focused paper Essay Example | Topics and Well Written Essays - 1250 words

Quality focused paper - Essay Example TQM encompasses other factors such as the Kano model’s analysis of the customer’s perceptions of quality; the cost of quality model; statistical process control; the Six Sigma and other quality strategies, and the implementation of best practices in quality development in business enterprises. Soltani et al (2008) have found that the success of TQM depends on the extent of commitment of top management towards the concept. This paper proposes to discuss the various dimensions to quality management, taking into consideration the relevance of quality management in today’s world, the quality control strategies constituting total quality management, and best practices for implementing quality management philosophies. Other related concepts will also be discussed, and the quality development strategies in various companies in the business world, will be demonstrated. There are various dimensions of quality. Some of the factors are related to excellence in performance and manufacturing and meeting the requirements of specifications and standards. The measurability of quality is also an important dimension, which involves use of statistical process tools for measuring quality. Quality systems can be benchmarked against quality standards. The International Standards Organization (ISO) 9000 and the European Foundation of Quality Management (EFQM) excellence model are two international standards for quality management. Quality, cost, level of customer complaints, flexibility and reliability are some of the performance goals. Value for money is another important factor, achieved throutgh six sigma statistical process control, and â€Å"added value† through customer care programs such as the provision of servicing, repair and maintenance facilities (Pergamon, 2005). Relevance of the Topic in Today’s World: With increasing competition in the production and marketing of goods and

Reflection on research interview schedule Essay Example | Topics and Well Written Essays - 750 words

Reflection on research interview schedule - Essay Example I felt comfortable dealing with a semi-structured interview because it gives one freedom to modify questions to suit different contexts. In a structured interview, all respondents are strictly asked the same questions. Structured interviews are convenient when researching on highly professional research topics. The Gibbs reflection model was utilized to reflect on the interview (Van Audenhove, 2007). The research topic seemed to be very specific. The target population was limited to students pursuing the health promotion top-up degree. Proper preparation and implementation were essential for the successful conduction of this interview. Developing a good interview schedule was the main challenge. An appropriate manner was used in conducting the interview. Proper implementation of the interview was key to making the respondents comfortable. The use of prompts like ‘tell me more’ helped rip more information from the respondents. Interviewers projected a warm, kind and easy to talk to the character to the interviewees. Creating a conducive environment to conduct the interview contributed to the successful conduction of this interview (Seidman, 2012).   Creating the overall questions is the first step in designing an interview. The interviewer should ask him/herself, why am I doing this research? What are the students’ experiences on the health promotion top up degree? Then list the questions that cover the topic of study. After choosing the relevant questions, the interviewer can finally select an appropriate question format. When choosing a question format, it is important to ask open questions first. Starting an interview with personal questions can make the respondent feel uncomfortable and nervous. This way the respondent will not give accurate information (Carter and Mankoff, 2005). The results in terms of information derived from the respondents were

Leadership and decision making Research Paper Example | Topics and Well Written Essays - 1750 words

Leadership and decision making - Research Paper Example based on the consultants summary regarding the candidate’s personalities. F.C. is an extravert. Extraversion shows how comfortable an individual is with the external environment (Michael 94). Extraverts enjoy being around people. They employ both informal and formal leadership styles and can be described as sociable, talkative and enthusiastic. They dominate conversations most of the times and are not good listeners (Griffin and Moorhead 580). On the other hand, introverts like A.M. and J.T. score poorly on the extraversion scale. Introverts would rather choose to work alone as opposed to working in groups. They are quite serious and maintain high levels of privacy in their affairs at work. F.C.’s extravert trait will be vital in leading the loan officer’s group. This position requires lots of team work in performing activities of accessing credit worthiness and characters of those seeking to secure loans from the bank. It is important to be sociable in order for the group leader to easily fit into the team she will be leading. This quality lacks in A.M. Even though J.T. is an extravert, F.C.’s personality is superior since she does not have a strong desire to dominate her peers. A passion to dominate others would lead to internal conflicts within the loan officers’ team leading to ineffective operations and lack of cooperation which is necessary if the team is to succeed in performing its duties. Agreeableness is a personality which determines how well a person is likely to get along with other people. This factor approximates the point at which a person tires from being defiant and submits to the pressing situation. This is mainly determined by qualities such as being cooperative, good-natured, forgiving, understanding, compassionate and trusting (Hilsenroth, Segal and Hersen 47). One needs to be able to accommodate others in order to be referred to as agreeable. From this point of view, individuals can be classified as chal lengers, negotiators or adapters. Challengers are sceptical, guarded, persistent, tough and competitive. They are viewed at times as rude, hostile and self-centred. Negotiators seek a win-win solution to problems. They therefore shift between being cooperative and being competitive. Adapters are viewed as humble, tolerant and accepting. They come across as naive, conflict-averse, submissive and at times unprincipled since they easily yield to pressing circumstances (Silverthorne 73). In order to lead the loan officers, the preferred candidate should be a negotiator. This will assist in the negotiations associated with the processing loans. Adapters are more likely to give out loan to highly risky borrowers without proper ways to mitigate the risk for the benefit of the company. Challengers are more likely to set the bar too high disqualifying potentially good borrowers and thus reducing the likelihood of the bank earning from interests accruing from such loans. F.C. has been describ ed as competitive even though she does not exhibit â€Å"a strong desire for dominance†. This shows that she is a negotiator scoring well in the perspective of agreeableness. The next personality dimension which is vital in evaluating leadership qualities in an individual is conscientiousness. This shows the extent to which a person is dependable, responsible, achievement-oriented and persistent. Conscientious leaders are good at making long-range goals and do well at organizing routes to

Designing to apply new concepts in a practical way Assignment - 1

Designing to apply new concepts in a practical way - Assignment Example such as early contractor involvement, design and construction, management contractor services, construction only, cost planning and design management. The company has also demonstrated its capacity to deliver in diverse projects, such as commercial buildings, industrial and educational institutions, leisure, interiors, community and green projects. This is a preliminary qualification assessment of ADCO Construction for the construction of the Monash University proposed Green Amphitheatre based on their website. It will also explain the benefits of a careful prequalification process in determining successful project outcomes. The ADCO website helps me to establish the quality that this company is likely to bring on board should they be awarded the tender. To begin with, the company is able to deliver in a project, such as the proposed library because of their green architecture credentials (Hatush and Skitmore 1997, 129). From the website, one can decipher their experience in delivering highly rated sustainable projects. Subsequently, the ADCO website will help to determine their ability to meet the unique utility needs that form the basis of this project, which is to put up a building that complies with sustainable development architecture requirements (Saha and Hardie 2010, 671). The website also facilitates one to establish the capability of the management, as well as the qualification of the staff who are green star accredited professionals. The construction credentials of the board of directors, the national management team, and the regional management teams can also be accessed through the website, a factor which increases one’s confidence in their ability to deliver on the project (Lam et al.. 2000, 252). The diverse technical ability of the company allows it to experiment on new technologies and apply them. This is because the company employs best practices in the construction industry, such as safety management, environment management and quality

Analysis of USPS Business Model Essay Example | Topics and Well Written Essays - 2000 words

Analysis of USPS Business Model - Essay Example It is currently employing more than 574,000 workers. It is legally permitted to render service to all the Americans without considering their geographical location. The company is well known for its quality services along with the uniform price. The agency has an access to the letterboxes which are marked as the ‘US Mail’ and also to the personal letterboxes in the country. Services Offered The United States Postal Services offer a wide range of services. It has bulk mail procedures available which provide discounts to the customers. It provides personal mails to the customers. The company also provides inter-departmental details regarding the UALR mails. It provides the services of campus delivery of the mails and state courier services. It provides media mail services to the customers as well. There are some other facilities provided to the customers like the business rely mails, postal money order services etc. Current Position of the Company United States Postal Serv ices is responsible for providing employment to a large number of people in the United States. After the federal government and Walmart, United States Postal Services is the third largest company in respect of providing employment (Bovard, 1985). It operates the largest number of vehicles in the whole world and is known as the largest vehicle fleet. The Department of Defence jointly operates with the United States Postal Services to provide services to the Army and Air Forces (the Army Postal Services) and the Navy (the Fleet Post Services). The two big competitors of USPS are UPS and FedEx. They compete with the company in providing postage delivery services, making urgent deliveries in the domestic land. DHL express was the third largest competitor of USPS until it stopped its operations in the United States in the year 2009. The National Postal Forum held in 2007 revealed that the Postal Service has highlighted and undertaken a large number of initiatives to improve the services and gain a remarkable position in the United States parcel industry. The low price offerings made by USPS is making it easily affordable by the customers. The company generates annual revenue of $73 billion whereas UPS and FedEx have annual revenue of $48 billion and $32 billion. Thus it is in a leading position in the market. Domestic and International Services The United States Postal Services provide domestic as well as international services in the United States. Domestic Services- Domestic services include weekday’s delivery of postal services to any particular customer’s address or Post Office Box or any delivery in the Army and the Military in the United States. It provides express mails which guarantee overnight deliveries to most locations. It is one of the fastest postage services offered by the USPS. There are several other facilities provided to the customers like first class mails, bulk mails, media mails etc. International Services- The United States Post al Services provides various facilities to the customers in order to meet their international shipping needs. The Global Express Guaranteed Service (GEGS) guarantees delivery within three days in more than 190 countries all over the world by FedEx. The First Class Mail Service is the best suitable international service for most of the customers. However, the delivery time in this service depends upon the destination of the delivery. The Express Mail International provides a combination of quick services and affordable prices in almost 185 countries. The delivery time lies within three to five business days. Challenges faced by the Company The delay in the delivery of services was one of the problems faced by the customers. This problem was arising frequently. The company conducted an analysis in

Debate over globalisation Essay Example for Free

Debate over globalisation Essay Currently in international circles there is a great debate over globalisation and whether it is a force for good or bad. The statement oversimplifies the matter, of course. But the issue of globalisation and our collective response to it promises to define who prospers and who does not well into the 21st century. Globalisation has positive and negative aspects. On top of its positive aspects comes the tremendous development of new information and communication technology, triggers in economic growth through increased trade and job creation around the world. This economical growth can be illustrated by the fact that the world real GDP grew from US$2 trillion to US$28 trillion, which means an increase of 1400%. On a per capita basis, this means an increase of US$614 to US$4908, an increase of about 800%. The quality of life in developed countries has increased However, anti-globalisation supporters affirm that although there was an economical growth, this was not well distributed throughout society, and that over the past 150 years, the rich countries are developing at a faster rate than the poor countries, increasing the difference between them. This happens because dealing with globalisation in a capitalist society, there will always be winners and losers. The winners will be the nations which have more skill, technology, information, power and money, whilst the losers will be the poor countries, which export primarily goods and rely on the rich countries to obtain technology and manufactured goods. As a term, globalisation means different things to different people. To some, it is a purely economic trend, the result of the market system unleashed on a worldwide scale, a century-long process that has now been vastly accelerated by the fall of Communism and the relaxation of other restrictive economic practices. As has the impact and growth of globalisation changed, so has its meaning during the last decades. But what is certain is that globalisation is not something of today or yesterday. Among the so many given definitions, Martin Wolf defines globalisation as a â€Å"journey, but toward an unreachable destination, the globalised world. A globalised economy in which, neither distance nor national borders impede economic transactions. A world where the cost of transport and communication were zero and the barriers created by differing national jurisdictions had vanished†. (Wolf, 2001: 178). But globalisation is a very wide notion, which embraces the social, cultural, and political interdependency of states. Globalisation refers also to the integration and interaction between different people and nations. Take the European Union as an example, where the member states share the same democratic values and norms, or the convergence and similarities of the constitutions of the member states, which could lead to a European law or constitution. To others, it defines the ever widening process of international interchange and interconnection that can be witnessed in so many aspects of life, whether the casual observation that top musical artists draw increasingly on other cultures for their melodies and rhythms, the news that former enemies are now participating in joint peacekeeping missions, or the realisation that there are suddenly many more foreign faces and accents in your hometown than before. No matter what the definition, globalisation is dynamic and real, causing numerous and often radical changes in all but the most remote places. Depending on your point of view, circumstance and prospects, the process can be seen as hugely positive or grossly negative. Those who defend globalisation say it is bringing prosperity to untold millions around the world, breaking down national and cultural barriers, and helping to speed the general process of peace-building. Critics say that the chaotic manner in which market forces have scaled up to the global level has unleashed a destructive whirlwind that treats workers callously, serves too often to further impoverish the poor at the expense of the rich, and wreaks vast amounts of environmental destruction. They say that its side effects are equally horrific, ranging from the spread of AIDS and drug abuse to the creation of a world monoculture that destroys local traditions and squelches diversity. At the 1995 World Summit for Social Development in Copenhagen, nations of the world took note of this dualism: Globalization, which is a consequence of increased human mobility, enhanced communications, greatly increased trade and capital flows, and technological developments, opens new opportunities for sustained economic growth and development of the world economy, particularly in developing countries. Globalization also permits countries to share experiences and to learn from one anothers achievements and difficulties, and promotes a cross-fertilization of ideals, cultural values and aspirations. At the same time, the rapid processes of change and adjustment have been accompanied by intensified poverty, unemployment and social disintegration. Threats to human well-being, such as environmental risks, have also been globalized. Inasmuch as the pain caused by some aspects of globalisation is undeniable, the real issue is whether the negative effects of its sweeping processes can be ameliorated and the positive effects enhanced. Because in the opinions of some, the forward march of globalisation is unstoppable. The notion concept of sovereignty refers to the three-fold capacity of a state, which is the â€Å"absolute supremacy over internal affairs within its territory, absolute right to govern its people, and freedom from any external interference in the above matters† (Wang, 2004: 473). So a state is sovereign if it has the ability to make and implement laws within its territory, and can function without any external power and assistance, and doesn’t acknowledges any higher authority above itself in the world of independent states. From the above definition one can draw the conclusion that either a state can b e sovereign or not, since sovereignty is defined as the absolute supremacy and right of the government in a given state. A realist like Steven D.Krasner agrees on the collapsing autonomy of states but deny the impact of globalisation on nation state, which could possibly lead to the death of state sovereignty. He argues, â€Å"Those who proclaim the death of sovereignty misread the history. The nation state has a keen instinct for survival and has so far adapted to new challenges, even the challenge of globalization† (Krasner, 2001: 20). He also argues that globalisation is not a new challenge or phenomena. Viewed from a criminological point, â€Å"the perceived normality of high crime rates, together with thee widely acknowledged limitations of criminal justice agencies, have begun to erode one of the foundational myths of modern societies: namely, the myth that the sovereign state is capable of providing security, law and order, crime control within its territorial boundaries† (Garland, 1996: 448). The notion of legitimate organized violence monopoly, which is of great importance for the internal order as well as for the foreign accountability of a state, is challenged by the international criminality. Since states cannot provide security for their citizens and are not capa ble of guaranteeing internal order, one of the fundamental elements of state sovereignty is undermined and questioned. The negative effects of globalisation can be softened only through new and higher levels of international cooperation and consultation, filtered through a new system of moral values that puts human welfare and social justice ahead of the predominantly materialistic paradigm currently in vogue. Call this global governance. Call it world government. But one way or the other, the forces of globalisation will require the creation of some sort of international super authority, one that can ensure that human rights and workers prerogatives are upheld, and that the environment is protected, as globalisation proceeds. Another factor that is observed is that the number of poor people (people living with less than US$1 per day) has increased, and reached almost 1.2 billion people, which is almost one fifth of the world’s total population. This is partly caused by the increase in global population, but also due to the distribution of the money. The ratio of income between the worlds twen ty percent richest and twenty percent poorest has increased from 30:1 to 78:1. Many people also question the issue of globalisation creating more jobs when multinationals establish new factories in foreign countries. Their argument is that although more jobs are created, and that this reduces the unemployment, these jobs don’t require any skill and workers have very bad working conditions, working long hours and receiving little money. And as the workers have no other working options, and working in these factories is their only source of income, they can’t do anything else, but work to try to survive. Besides this, the unemployment levels are very high, which means that there is always someone available to substitute workers that aren’t happy with what they are being offered. These facts make us think in a way of making globalisation fairer, and giving developing countries the chance of benefiting more from it. So that this can happen, there are many things that need to be changed. First of all the development needs to be more focused on the people, and not only in financial reasons. Fairer rules and deeper partnerships should be done between developed and developing countries so they can have a mutually beneficial relationship. Also one of the most important things to ensure that nations can benefit the most from globalisation is that a powerful, democratic and more effective UN helps to control the spread and paths of globalisation. From this we can conclude that globalisation is one of the most important factors of the new century, and that it will continue spreading and growing all around the world, reaching the furthest corners of the planet. The question of whether it is good or bad can never be answered completely, and there isn’t a right or wrong answer, because there will always be good and bad sides to it. At present globalisation seems to be beneficial for some and detrimental to others. For globalisation to be beneficial to the majority depends on how it is treated and controlled. Globalisation could be very beneficial to society as a whole if managed correctly.

Creative educational tools Essay Example for Free

Creative educational tools Essay â€Å"We visualise and develop creative educational tools that provoke inspirational activity and bring positive recurring stimuli for children in their learning process and creative play. We believe on the power of creative education.† – Innospark Our team has chosen Innospark, Lithuania, which is actually a new company who produces educational toys for young children. Education is very important aspect of each persons life, especially in this century, so having the children start their educational journey in the early age is very important. Growing bigger, becoming a competitor on the Lithuanian market, Innospark decides to go outside the local market and take a chance on different European markets. Us being able to choose the market we came to agreement to have two markets, first Poland and second, Scandinavia. Considering that Poland is one of EU’s fast developing countries, which also has a lot of investors coming from around the globe and where the middle income is growing rapidly, we decided that Innospark would have a big chance in conquering the Polish market fast. Also there is almost no competition on the market, on their particular product. Scandinavia on the other hand is developed and open for new companies, giving them new opportunities. Even though, there is one actual competitor, Innospark has different kind of products which can easily compete with the others. Our decision on the entry mode is direct export. It is easy to implement in smaller countries, trade barriers are reduced to minimum, because all the countries are EU members and capital requirement is limited. The potential of getting profits are greater, because of the intermediaries are eliminated. All aspects of the transaction are controlled by us. We know who are customers are, our customers know who we are and business trips are more efficient and effective with meeting the customers face to face, for more confidence and trust. Customer relations are one of the most important part, they will feel more confident and secure with our product, once we establish the worming contact with them. We also have to have a total control over the negotiations and transactions, also the patents, copyright and trademarks. For future plans we are considering bigger improvements and expansions on the markets. We also considered about three employees with standard salary (Poland), proximately 410 euros, which is a normal salary for Poland. Advertisement for our product will be throughout the internet.  First the webpage of Innospark and the possibility of Facebook, opening a page is free and getting more customers will be faster and easier, we also would be able to advertise our page with a very low cost. 1. Market Segmentation As stated in the previous section, the market has been segmented by Innospark into two distinct customers, i.e. individuals and businesses. Individuals: The purchases made by this segment are usually single purchases for own kids or someone known to the individual customer. The demographics of this segment can be classified as: An average household income of 1500 Euros Parents have high aspirations for children with respect to education and development Businesses: This category includes business clients who buy toys for children. These clients are also organizations such as day-care, as well as school-based organizations like pre-school and/or nursery. This segment generally caters for seven to twenty five children. 2. Target Market Segment Strategy Exporting is a method of increasing sales potential for businesses. To go international, a company does not need to be big in size or have a huge marketing department. The Lithuanian market represents enough sales potential for Innospark. However, it is important for the firm to grow and the only way to do so is by exploiting the untapped markets, one of them being Poland. As per Euromonitor, the traditional toys and games market in Poland has been dominated by global brands for many years by companies such as Lego, Hasbro, Mattel and Simba. These companies have dictated general trends in the Poland toys market. This indicates that the Poland toys market represents a good opportunity for Innospark since consumers seem to be accepting global brands. Apart from increasing the customer base, exporting would also mean increased market share, and therefore increased profitability by lowering per unit cost. As per a general trend, an average order from international customer is often large r as compared to that from a domestic buyer. This means that exporting its toys can result in an increase in Innospark’s perceived size and stature. Additionally, it will also improve its competitive position, as compared to other similar-sized  startups in its sector. Through growth in business, Innospark may also look at overseas licensing, franchising, or may even set up its production unit in Poland. Additionally, the educational toys that Innospark is offering are very unique and innovative in nature. This opportunity can be exploited by commanding greater profit margins in Poland than in Lithuania. Although Lithuania helped the export-oriented economy in avoiding exchange-rate fluctuation by pegging the Lithuanian currency (the Lithai) to the Euro in 2002, other fluctuations in the economy and business cycles cannot be avoided altogether. Diversifying the market is therefore a feasible option for Innospark to reduce the risks. Also, exporting the products to Poland will help put the idle capacity at work, which will help Innospark to enjoy pure economies of scale with toys that are more global in scope. These products are also most likely to have a wider range of acceptance globally in the long run when Innospark grows and penetrates into other markets. From consumer point of view, Innospark will have to make sure that it offers products of the highest quality at a competitive price in Poland. If it becomes successful as an exporter, chances are highly likely that the educational toys will have increased acceptance in Poland as well due to Innospark’s heightened efficiency and focus on product quality. Lastly, Innospark also stands to gain from the export activities by a potential gain of knowledge. The myriad experiences and gain of information on new technologies, marketing ideas and product line extension that it will have in Poland can help Innospark to improve and grow not only its export business, but also the domestic business. 3. Entry mode As both countries (Lithuania and Poland) are part of EU, trade barriers are minimal. With reference to this information two the most attractive ways for â€Å"Innospark† to entry the new market has been selected: Indirect exports Direct exports Criteria Indirect exports Direct exports Implementation Find an export agent or freight forwarder from Poland, which could handle exporting and would be responsible for coordinating, could be a good choice, as local employees know their home market (customer’s needs, ways to attract them) better. Directly export products to customers (could be wholesalers or individual consumers) which are interested in purchasing them, without any intermediaries. This could lead to a better representation and protection of company’s trademark. Involvement in process Requires minimal involvement in exporting process. The company would be responsible only for finding any kind of intermediary (export agent or export managing company, freight forwarder, etc.).In that way â€Å"Innospark† would be able to continuously concentrate on Lithuania’s market and at the same time increase its market share in Poland. Requires maximum involvement in exporting process as company becomes responsible for developing understanding of a marketplace, handling logistics of shipment, collecting any kind of payments that might be needed to be paid, implementing support service. The market share in Poland might increase greater; however, domestic market would be a little bit â€Å"neglected†. Risk Almost none. This is the best way to field-test export potential for certain products. It might appear that it takes more time, money, energy than company is able to afford. Responsibility Intermediary would be responsible for failures, because indirect export requires minimal involvement in processes – there would always be someone to point the finger at if something went wrong, or not the way it was expected. The â€Å"Innospark† would be accountable for its failures. Being responsible for all exporting process will demand more effort from every level of the company. Potential profits Profits would be lower. Profits would be greater. Control Company would lose control over foreign sales because of the intermediary’s existence in the exporting-selling process. Company would have a better control of all phases of the transaction (ex. Shipment, selling, etc.) Contact with customers â€Å"Innospark† would have no direct contact with its customers. As a result, company might lose the opportunity to get to know the evolving needs of the consumers. â€Å"Innospark† would have direct contact with its customers. As a result, not only company will be able to get to know its customers and their needs, but also customers will know who â€Å"Innospark† is. Business trips Business trips might seem useless as company would be step removed from actual transaction because only intermediary would be able to know the latest information. Business trips would be efficient, useful and informative. There would be an opportunity to meet customers responsible for representing the products of the company. Long-term goals If suddenly the long-term outlook and goals of the company change, the reorientation of the company will be harder as production would already be in someone else’s hands. The reorientation would be easier as the â€Å"Innospark† would be the only unit responsible for exporting production of the company to Poland. As it is clearly visible from the table above direct exports has both, advantages and disadvantages. Analogue situation is with indirect exports. However, because the one of the main concerns on which is based the decision which entry mode should be selected, is contact with customers, the advantages of direct exports had outweighed advantages of indirect exports. With reference to information mentioned previously, the suggested entry mode for â€Å"Innospark† to entry Poland market is – Direct exports. The â€Å"Innospark† will focus on two types of consumers during this entry: Individual consumers (ex. parents, grandparents, aunts, etc.) Wholesale consumers (ex. kindergartens, daycare centers, etc.) The main and most important question is – why? Why consumers are such an essential part of the entry mode? The table below should answer this question. Reason Explanation Consequences Better margins Despite the fact that sales scope will be smaller, margins will be higher. More profit Closer contact with customers Stronger relationships which lead to loyalty will be developed by selling directly to customers, excluding any kind of intermediaries. This will form a more accurate feedback – better knowledge about evolving consumers’ needs. Products that satisfies consumers’ needs better Customers’ loyalty Word of mouth advertising Increase in the market share More profit More efficiency Fewer layers involved in distribution Simpler managing of the distribution processes Future plans â€Å"Innospark† will sell direct to the consumers and also to wholesaler purchasers, who will be responsible for representing the trademark and the products of the company. While this entry mode (Direct export) creates more work for â€Å"Innospark† in terms of generating sales, it provides better margins. Additionally, this process will be more costly, having in mind not only money, but also time and energy, for the first few years; however, once loyal relationships will be developed with individual consumers as well as the wholesale purchasers, the marketing expenses will decrease extremely as the customers become familiar with the â€Å"Innospark’s† extraordinary and exclusive products and continue to make purchases. What is more, loyal customers will not only constantly acquire products, but also introduce them to their friends, family members, etc. company will get free word of mouth advertising. 4. Industry Analysis The toy industry in Poland is characterized by many different domestic toy manufacturers (ex. TUBAN, KANWIL) also as global manufacturers who exports their production to the country (ex. Mattel, LEGO). Nevertheless, there is a  niche of educational toys which „Innospark† can take advantage from as this niche is quite new (within the last five years) and more legitimized nowadays comparing to the situation ten years ago when it was believed that toy can’t have any educational value – it was assumed that toy is just a meaningless way to occupy children giving parents’ a brake from parenthood. Only recently it was proved that there are some special designed toys which not only attracts children’s attention but also teach them constructrive skills at the same time as develop their imagination and ability to concentrate. It would be a great opportunity for „Innospark† to establisth itself while this niche is not overloaded. As it is clearly visible from the table above, competitors mainly focus is on eco-friendly wooden toys or constructors. â€Å"Innospark† would be like a â€Å"gust of the fresh air† in the Poland’s market with its creative solutions applied  to make outstanding educational toys and wide assortment of the products. 5. Staffing policy We decided to start with Warsaw and hire local staff, because, introducing our product, advertising will be more efficient in capital city than in other small towns. The minimum salary will be 405 and more, depending on the work level (Minimum wage in Poland is 404,16 â‚ ¬). The salary will be transferred to their accounts which also can be opened by us in one particular bank, which will be better for the company for not loosing money in transferring etc. We also will have 3 employees, till we expend on the market. Decision is to use local staff. Reasons: Local employees and managers know more of the local market and therefor can build reliable and trustful relationships with the customers. Local customers may prefer interactions with local employees and managers due to the common cultural background and lack of language barriers. Local managers and employees working together can increase employees morale, work satisfaction, organizational commitment and as a result effective performance. 6. Marketing strategy (business scheme) The business scheme will point out the fact that products are absolutely educational tools that are entertaining. This is a meaningful message because parents will desire their kids to play with this kind of toy. The essential feature of the „toyâ€Å", in the product is used to make the kids bound with the product, something mostly hard to do with most educational tools. â€Å"Innospark† create ideas in our minds and develop creative educational devices that provokes developmental activity and makes positive recurring stimulation for kids in their studying process and creative play. â€Å"Innospark† trust in the capability of clever education. Cleverness- clever person is a curious explorer. Let’s create a place where creativity grows Hopes, goals- the first years of children’s life are most important time in the growth of hopes. Let’s have the hopes high. Permitting- a kid so deeply wants to believe his or her wishes can come true. It is our job to help them  build a feeling of inner confidence, fearlessness and toughness. Progress- cleverness has developed into a highly treasured skill in the century. It is an important building block for changes in business, history and nowadays life. Let’s grow clever The business scheme will identify and describe for the fact that there are two definite client groups that must be drawn attention to. To take the awareness of both groups sees that the groups are very dissimilar despite the fact that they are buy identical product. (http://www.edu2.lt/lv/kas-mes-esam/) â€Å"Innospark† will use direct mailings and advertisements. â€Å"Innopark† is a new company, is a little two years old, so for the beginning we recommend choose the „Innospark† website (http://www.innospark.lt/). Will be used like the main tool to spread the product. It will be a cheap and productive way of spreading information regarding and its product. The site will be divided in two fields, one for general information and the other for dealers/traders. The second part will have greater amount of information outside business information like stock. Also, Innospark as a new company, choose the Internet as a cheaper and more effective your advertising apparel and corporate types. To ensure the effective promotion of the search results, one of the ways to register Google AdWords. Next would be placement of advertisements in various, popular international social networks such as Facebook, Twitter etc. Social networks provide advertisements wide spread not only the Internet but also Internet users communicating with each other, as well as commenting on a product on the Internet, writing reviews, etc. Often, when choosing a product, service or business other peoples reviews are crucial selection. Homegrown web sites the opportunity to advertise, is the largest news portals.Like the ad placement site, an important aspect of creating their advertisements, is to choose the advertising audience. Audience determined to run at end-customers, which is a very important part of a successful advertising campaign. The website business scheme is easy to understand and clear, have the webpage shortcuts on all available materials as well as mention it in all talks with clients. To make it easy to find for greater amount of people. Will add the site to more spacious extent of search engineers so even if a specific customer is not informed of but has knowledge of the product category, they will still be pointed to site. 6.1 Sales strategy (Marketing scheme) The marketing scheme will be adjusted for every client group. The marketing scheme for individuals is to make plenty knowledge of. So that clients are asking their dealers to carry for them. To address the marketing part it is future plan that the businesses are not just purchasing one or two of the items but that they are purchasing entire products addressing dissimilar abilities, all of which are valuable. In most cases this is particularly valuable as businesses repeat clients, meaning that if buyer is satisfied with the bought item, they will probably become a long term clients and not search for other dealers. 6.2 Operations strategy (Action plan) Will make manufacture widely popular of all of its products. We choose the publicizing system for many reasons: None of them have been involved in manufacturing action  Popularizing will lower the cost to smallest amount, making all products costs variable Popularizing will make it available for the business team to pay more attention on marketing and new product growth Minimizing the possible financial dangers by not committing to the cost of a manufacturing facility Making business plans sales grow bigger Bibliography Delaney, L. (2014). About Money. Retrieved from http://importexport.about.com/: http://importexport.about.com/od/DevelopingSalesAndDistribution/a/Direct-Exporting-Advantages-And-Disadvantages-To-Direct-Exporting.htm Innospark. (2012, December). Innospark. Retrieved from http://www.innospark.lt/ Martins, R. (2014, November 28). Poland. Retrieved from http://www.tradingeconomics.com/: http://www.tradingeconomics.com/poland/gdp-growth www.eulerhermes.com. (2014). Country Reports. Retrieved from http://www.eulerhermes.com/: http://www.eulerhermes.com/economic-research/country-reports/Pages/Poland.aspx?gclid=Cj0KEQiA-uWjBRChu9ie05m5ipgBEiQAuHIuK_uF1FFr62ciCHwCl1nLspSxhq8sG8r3y0oqDNP-1IQaAsK68P8HAQ www.investopedia.com. (2014). Retrieved from http://www.investopedia.com/: http://www.investopedia.com/terms/m/marketsegmentation.asp

Planning and Management of Conferences

Planning and Management of Conferences Manjot Singh Conference: It resembles a formal social gathering between the general populations to share their perspectives on a specific subject. For example, in business and political stream diverse gathering held to discuss the issues with the goal that they can resolve it effectively Conference Management:   It is the way toward dealing with a venture, for example, a meeting, tradition, tradeshow, group building action, gathering, or tradition. Occasion arranging incorporates planning, building up timetables, selecting and saving the occasion locales, obtaining licenses, arranging sustenance, organizing transportation, building up a subject, orchestrating exercises, selecting speakers and keynotes, masterminding hardware and offices, overseeing danger, and creating alternate courses of action. Maintain Conferences Management with Tools: There are some best tools which can be used for managing are explained below: Mitingu: Cloud-based occasion administration programming that gives occasion coordinators the apparatuses to make, advance and offer their occasions Double Dutch: Twofold Dutch makes portable applications for occasions, intended to connect with and please participants and create noteworthy achievement measurements Event rit: Occasion ceremony gives financially savvy occasion administration programming to help organizations sort out and offer tickets to occasions online-while peopling find occasions that fuel their interests. From patio grills to classes to gatherings to widely acclaimed film and music celebrations, Occasion custom houses occasions of all shapes and sizes. As one of todays driving occasion administration stages, Occasion ritual conveys inventive innovation and low expenses and if your occasion is free, so is Occasion custom. Take in more. Ivy Occasion Administration: Our Undertaking class, cloud-based Gathering and Occasions Administration programming furnishes occasion coordinators with every one of the devices they have to arrange, showcase and deal with each part of their occasion effectively and all in one place. From basic classes to multi-session meetings, we have you secured. With instinctive programming, delightful web and email formats, and our new move and customize site manufacturer it is simple for anybody to make proficient looking occasion sites and messages. O-Tux: O-Tux is an Australian-based Sales ticketing and enrolment framework that provides food for purchaser, business and corporate occasions. The framework is intended to be simple for coordinators to utilize, while conveying a finish ticketing and enrolment encounter for your clients. From identification printing and filtering, to limited time codes and installing of ticketing all alone site, O-tux is brimming with helpful elements since it was composed by occasions individuals, for occasions individuals. Policies and Procedure: There are some very important policies which one should take care to plan the conference: Anti-Discrimination Policy:   It should be necessary for any conference because the main purpose of this is equality and there are certain steps to follow this Uphold proper principles of direct at all times. create a separation and badgering free workplace where all representatives, temporary workers and clients are treated with politeness and regard implement methods to ensure workers know their rights and duties provide a viable system for grumblings in light of the standards of regular equity treat all grumblings with deference in a reasonable, opportune and secret way ensure there is no danger of exploitation or backlash in case of a dissension encourage workers to report ruptures of the counter separation approach Assignments Strategy: It is likewise the real one to take after on the grounds that this approach which is given to the a particular position or an individual They are given to classified positions wherever conceivable with a much littler number of individual positions practicing particular duties identified with the utilitarian part and power of their specific position. The appointments archive is surveyed every year with a view to enhancing its utility and pertinence to the authoritative structure of the College. The designations in this instrument are intended to: A be clear and straightforward; b. establish fitting procedures of duty and responsibility for different regulatory capacities; c. Devolve basic leadership to suitable levels. †¢By determination of the Leading body of Trustees these appointments produce results on and from 1 January 2016 subject to any further revision. They supplant any surviving assignments in past adaptations of this Appointments archive. You have selected the maximum of 4 products toBudget: It is the most important factor because budgeting is very serious. The whole business depends on this category and one should need to learn how to save more money. A project budget is the total sum of money allocated for the particular purpose of the project for a specific period of time. The goal of budget management is to control project costs within the approved budget and deliver the expected project goals that are why it is so important every person and family create a budget that works for them. Item Projected Real Fixed costs Site hire $6000 $6000 Orator fees $300 $150 Publicity $600 $400 Acoustic visual hire $100 $350 Total $7000 $7700 Variable costs Cookery $500 $400 Present bags $1500 $1200 Accommodate hire $1000 $800 Total $3000 $2400 Fixed income Organisations contribution $5000 $5500 Total $5000 $5500 Variable income Permit sales $2000 $1700 Track material $3000 $400 Total $5000 $2100 Strategies for Budget: Strategies of budgeting is important factor which involves clearly defining the organizations mission and an assessment of its current state and competitive landscape. Strategic planning also requires a well-thought out plan for how to properly allocate time, human capital and financial resources. The different strategies are explained below: Recognized settled cost: The principal thing anybody hoping to make a financial plan ought to do is make a rundown of costs. This incorporates things, for example, voyaging costs, convenience, bills and whatever else that cant be maintained a strategic distance from, alongside superfluous costs like stimulation and eating out. Assess the amount you ordinarily spend on each, and make a note alongside them. When this is finished, investigate the rundown. Approximation Profit: Then we need to gauge our wage. Wage can likewise be altered or variable. Altered pay alludes to salary that does not vary with the quantity of participants, for instance: sponsorship and so on. Variable earnings will vary with the quantity of participants, for instance: ticket deals and so forth. Parts of a Financial Plan: An ace spending plan is the money related report utilized for anticipating the salary and costs of an organization, instead of a division, item, or other territory of a business. From the ace spending plan, a little entrepreneur can build up an assortment of reports to set particular objectives for the business. The real parts of an ace spending plan incorporate wage and costs, overhead and creation costs, and the month to month, yearly, normal, and projection aggregates. Income: One of the two fundamental parts of an ace spending plan is salary. This incorporates your deals, as well as any premium, profits, eminences or other capital increases you win. In the event that you wont utilize these last types of salary to run your organization, abandon them off your lord spending plan, making it a working spending plan concentrated on pay from deals. Some ace spending plans incorporate a terrible obligation section, figuring it utilizing a rate of the business wage. Expenses: The other primary part of an ace spending plan is costs. Some little entrepreneurs make sub-parts of their lord spending costs to figure spending ranges they can cut amid moderate times, or to ascertain generation and overhead expenses. A settled cost is one you cant without much of a stretch change from month to month, for example, your lease, protection premium, advance instalment or copier rent. You will probably have the capacity to cut variable costs in case youre short on money, in light of the fact that a significant number of these are optional. Assign repeating variable costs you cant without much of a stretch cut, for example, utilities, telephone bills or work, uniquely in contrast to variable costs you cant change, so you can rapidly discover spots to cut when the need emerges. To make an adaptable spending plan, utilize recipes that change your optional spending taking into account your pay. Projections: An accommodating part of numerous financial plans is the projection adds up to segment, which demonstrates to you how youll end the year in the event that you keep performing at your present levels of pay and spending. These can be skewed on the off chance that you have substantial cost or pay sums ahead of schedule in the year. Taking a gander at your execution for a specific month ordinarily isnt a practical pointer of your general execution, since you will have more bills come due in a few months. Times of higher bills can incorporate the start of the year when expenses are expected, dates when quarterly protection premiums or duties are expected, or times when you have occasional deals crests and valleys. Averaging your month to month pay and costs can help you anticipate your yearly execution in the event that you dont have occasional swings and your costs are genuinely relentless. Planning Conference:   Itis very important to handle the work. Being a part of busy Conf and helping conference organizers take their event from idea to launch has shown me that this is true. One of the difficult parts of planning a conference is finding resources to help you organize your event that are affordable, or even free. To save you time when searching for resources, we have compiled a list of conference planning resources that can help you find a venue, book speakers, promote your event, and more. Finding a Setting: Finding and booking a scene can be a distressing background, particularly for first-time gathering coordinators. Leasing a scene is frequently the greatest cost included when arranging a gathering. These instruments make finding and booking settings in your general vicinity less complex and less expensive. Event Hardware: Gear rentals are nearly as distressing as finding a setting. Leasing hardware is frequently costly and tedious. On the off chance that your occasion needs complex sound and visual hardware, leasing and setting it up can be troublesome.   These administrations help occasion coordinators find and set up gear. Event Sponsorship: Occasions are costly, and without enough sponsorship cash and a careful spending plan, your arrangements may very well come up short because of an absence of assets. Discovering supporters is something that a great deal of first time coordinators battle with. These assets will help you raise cash for your occasion, discover supports, and make a financial plan. Milestones of Conference: A Milestone is a reference point that marks a major event in a project and is used to monitor the projects progress. The milestones for a project should present a clear sequence of events that will incrementally build up to the completion of the approved project. Expand Proclamation: As we realize that, each individual attempt to enhance his relational abilities. By this he can enhance his identity. Along these lines, the meeting is the most ideal route for each business part to enhance his relational abilities. Moving into Future: If the organization needs to move persistently in future then the gatherings ought to be essential for this on the grounds that by this they can give the more data in market about its items, strategies and methods. Produce Income: Each organization needs to acquire increasingly income. At that point the gathering is likewise the most ideal approach to procure income. Amplify Relations in Market: If the organization needs to build its relations in the market then the gatherings ought to be important in light of the fact that by this each organization can enhance its relations with shareholders, indebted individuals, loan bosses and so forth.