Employee Rights


This issue actually spans a wide range of controversies. For example, issues have surfaced regarding the individual’s right to smoke in the workplace. As more and more organizations limit or ban smoking, this issue will continue to be somewhat controversial. Broader controversies involve issues associated with job ownership and individual rights while at work. A popular (albeit not entirely correct) assumption about Japanese organizations is that their employees have lifetime job security/ to the extent that US firms adopt this practice, the question becomes one of due process and the right to appeal in instances of dismissal or reassignment.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Employees Who Exceed Expectations


  1. Immediate promotion potential: These individuals consistently perform their jobs at such high levels of quality and quantity that a promotion seems to be past due. They also accomplish specific objectives established for the job from the overall business plan. These individuals may be working at a job that is  beneath their basic set of skills and general capabilities, perhaps because no promotional  openings have been available. Without question they could perform the responsibilities of a higher position.
  2. Eventual promotion potential: The performance of employees in this subcategory has been progressing at a rate that is normal for the job and typical for an incumbent who is expected to progress to the next higher-level job within a year or two. Their performance includes normal duties as well as objectives assigned based on the overall business plan.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Organizational Paralysis


Within 6 months of life some organizations suffer a paralysis:

  1. Point zero minus six months: growing anticipation of the new organization is rife; most senior managers are preoccupied with networking amongst the organization’s rising stars in order to be well positioned for advancement.
  2. Point zero minus three months: the new organization is due shortly, so no one will do anything in case it is seen to be wrong in light of the new structure.
  3. Point zero minus one month: all senior managers desperately plead for a new job so the sin of the last year’s time wasting can be hoofed off onto another poor unsuspecting victim.
  4. Point zero: the planned reorganization is put back two months to accommodate the wishes of an intransigent director who keeps digging in his heels and refuses to listen.
  5. Point zero plus six months: senior mangers look forward to extremely generous takeover conditions and contemplating retirement

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

 

Managing Cash and Near Cash


Cash and near cash (interest-bearing assets easily converted to cash) are needed to conduct day-to-day business operations like paying employees and meeting emergencies. How much of these assets managers need depends on how well they have done their financial planning, how many other current assets the firm holds, and the range of normal business fluctuations.

Cash itself pays no interest. So the financial manager must be careful to (1) speed up collection of monies due; (2) conserve funds; and (3) place idle cash in interest-bearing assets (near cash) until it is needed.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

 

Product Knowledge


You have to be expert before you even start your business. The old saying, “We learn by our mistakes” will not do your business reputation any good if it applies to your lack of expertise. You have to know your products or service inside out. You may love a business for the product lines, but will your customers love the products too? When problems arise with a product, or when a customer asks technical questions, are you knowledgeable enough to resolve these problems and answer their questions competently and confidently?

One way to increase your product knowledge is to contact the manufacturers or local distributor. They are usually happy to send you product information and answer your questions. Some of the questions you should research about your product lines (or service) are these:

  • How long have these products been on the market?
  • Are they seasonal, and when do most sell?
  • How often are these products upgraded or changed?
  • Could you be caught unexpectedly with obsolete inventory?
  • What do the manufacturers’ warranties cover?
  • Are replacement parts readily available?
  • Are the products competitively priced?
  • Are buying trends increasing or decreasing?
  • Are the products high, medium, or low in quality?
  • How do the products compare to the competition?
  • What are groups do these products appeal to?
  • What is the life expectancy of the products?
  • Could the products become obsolete due to changing technology?

After these questions are answered, you may find that the business is not viable after all. The product pricing may be too high compared to the competition, or you may discover that over the previous five years, overall demand for the products is declining due to technological changes and shifts in consumer buying trends. In another five years, the demand could become substantially less. The products may appear high in quality on sight, but you may discover that they are poorly made and not something that you would feel confident selling. Perhaps the manufacturer’s guarantees are inadequate, or replacement parts are priced exorbitantly and hard to secure.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Managerial Accounting


Managerial accounting refers to the internal use of accounting statements by managers in planning and directing the organization’s activities. Perhaps management’s greatest single concern is cash flow, the movement of money through an organization over a daily, weekly, monthly, or yearly basis. Obviously, for any business to succeed, it needs to generate enough cash to pay its bills as they fall due. However, it is not at all unusual for highly successful and rapidly growing companies to struggle to make payments to employees, suppliers, and lenders because of an adequate cash flow. One common reason for a so-called “cash crunch” or short fall is poor managerial planning.

Managerial accounting is the backbone of an organization’s budget, an internal financial plan that forecasts expenses and income over a set period of time. It is not unusual for an organization to prepare separate daily, weekly, monthly, and yearly budgets. Think of a budget as a financial map, showing how the company expects to move from Point A to Point B over a specific period of time. While most companies prepare master budgets for the entire firm, many also prepare budgets for smaller segments of the organization such as divisions, departments, product lines, or projects. “Top-down” master budgets begin at the top and filter down to the individual department level, while “bottom-up” budgets start at the departments or project level and are combined at the chief executive’s office. Generally, the larger and more rapidly growing an organization, the greater will be the likelihood that it will build its master budget from the ground up.

Regardless of focus, the major value of a budget lies in its breakdown of cash inflows and outflows. Expected operating expenses (cash outflows such as wages, materials costs, and taxes) and operating revenues (cash inflows in the form of payments from customers and stock sales) over a set period of time are carefully forecast and subsequently compared with actual results. Deviations between the two serve as a “trip wire” or “feedback loop” to launch more detailed financial analysis in an effort to pinpoint trouble spots and opportunities.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

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