Communities of Practice


One of the most successful uses of the Internet has been the emergence of informal knowledge communities or a community of interest. It is an environment usually outside of conventional organizational structures, where people can converse with each other about the common problems they face in their workplace or in their professional life, a common passion for some subject or a common mission. Most communities of practice are contained within a single organization but sometimes they cross institutional boundaries.

A community of practice does not necessarily have to be transacted solely on the Internet and in fact the most successful ones almost always have a face-to-face meeting component to them. As good a tool as the Internet is, it can never replace the intimacy and fullness of communication of face-to-face meetings of individuals. The importance of the internet to a community of practice js that it provides a link beyond the times when people can physically meet and hence sustains the group. It also permits a community of practice to develop among people who are not co-located.

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.

Kinds of Advertising


Different kinds of advertising are used by various organizations to reach different market targets. Some major categories include:

  • Retail Advertising: advertising to consumers by various retail stores such as supermarkets and shoe stores.
  • Trade Advertising: advertising to wholesalers and retailers by manufacturers to encourage them to carry their products.
  • Industrial Advertising: advertising from manufacturers to other manufacturers. A firm selling motors to automobile companies would use industrial advertising.
  • Institutional Advertising: advertising designed to create an attractive image for an organization rather than for a product.
  • Product Advertising: advertising for a good or service to create interest among consumer, commercial, and industrial buyers.
  • Advocacy Advertising: advertising that supports a particular view of an issue
  • Comparison Advertising: advertising that compares competitive products.

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.

Glass Ceiling


Glass ceiling is a term used to reflect why women and minorities aren’t more widely represented at the top of today’s organizations. The glass ceiling is not, however, synonymous with “classic” discrimination. Rather, the glass ceiling is indicative of “institutional and psychological practices, and the limited advancement and mobility of men and women of diverse racial and ethnic backgrounds.”

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.

Greed


Technically, greed is not one of the seven cardinal (deadly) sins, avarice is. Greed is an excessive desire to get or have, as wealth or power, beyond what one needs or deserves. There is no mechanism , or even rationale, for deciding what  one needs  or deserves  or what is excessive.

Pride is the first of the seven cardinal sins, but we are encouraged to be proud of country, school, family, employer, and other institutions. The issue is not pride but the form that pride takes. This applies to wanting more than one has, what some people call greed. It depends on how the greed affects behavior. Greed is not bad. Immoral and unethical behavior is bad.

Greed means the desire to have more than one has. This trait leads, through the invisible hand, to competition. Greed causes us to want more in a free, competitive society we have to work harder and smarter. This increases human welfare by providing more and better marketing mixes (product, price, distribution, and promotion). It is the marketing mix that satisfies the buyer’s wants and needs. Competition keeps greed in check except when we act immorally. In business competition, unlike sports, there can be more than one winner.

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.

Financing Alternatives


By the time your company reaches its first stage of development, it has probably consumed most, if not all, of its original seed capital. Although business may be looking up, sales are not generating enough free cash to buy the inventory needed for further growth. And, of course, the amount of cash you have taken out of the business for personal living expenses has probably been negligible.

Except in very rare circumstances, a new business needs about three years of steady growth before it generates free cash in sufficient amounts to survive. Working capital to keep the business growing must come from outside the company. Financing must be obtained from banks, other leading institutions, or investors, or the company will stagnate and quickly die.

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.

Price: A Measure of Value


Prices in the marketplace are a rough measure of how society values particular goods and services. If consumers are willing to pay the marketplaces, then apparently they feel they are getting at least their money’s worth. Similarly, the cost of labor and materials is a rough measure of the value of resources used in the production of goods and services to meet these needs. New consumer needs that can be served profitably—not just the needs of the majority—will probably be met by some profit-minded businesses.

In a market-directed economic system the prices in both the production sector (for resources) and the consumption sector (for goods and services) vary to allocate resources and distribute income according to consumer preferences. Over time, the result is a balance of supply and demand and the coordination of the economic activity of many individuals and institutions.

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.

Core Values


The professional and the institution for which the professional works should compile a relatively brief list of core values. These are values that help determine what the priorities are and how one aspires to act. Ten core ethical values are described:

  1. Honesty (truth telling, candid, openness)
  2. Integrity (act on convictions, courageous, advocacy, leadership by example)
  3. Promise keeping (fulfilling the spirit of commitment)
  4. Fidelity (loyalty, confidentiality)
  5. Fairness (justice, equal treatment, diversity, independence)
  6. Caring (compassion, kindness)
  7. Respect (human dignity and uniqueness
  8. Citizenship (respect for law, social consciousness)
  9. Excellence (quality of work)
  10. Accountability (responsibility, independence)

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.

Identifying Target Market Buyers


Not all consumers are likely to buy all products. Al though a firm must consider all prospective buyers, it must focus its efforts on its target market—the specific group of buyers it intends to reach. Thus not in the target market are less likely prospects, and so efforts to reach them are generally not worth the expense.

The target markets are composed of ultimate consumers—the individuals, households, or families who buy for their personal needs. In contrast buyers in purchasing departments represent other target markets—organizations like business firms, government agencies, and educational institutions. These groups are often called organizational buyers.

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.

Technology and New Knowledge


Technology is one of the most powerful forces affecting business and society. Improved technology includes machines of all sizes, shapes, and functions; processes that enable business to produce goods at faster speeds, with lower costs, and with less waste; and software that that incorporates new forms of learning into formats that direct machines (hardware) to perform functions that would have taken much longer, and been less reliable, if done by other means. Technology involves harnessing human imagination to create new devices and new approaches to the needs, problems, and concerns of a modern society.

Technology also involves drawing together fields of knowledge that coverage, enabling new ways to solve problems or perform tasks.

Although new technologies have the potential to benefit large portions of the population, they may also negatively affect some people. As new technologies become available, the challenges to sound decision making become even more ethically complicated.

Technology is creating what experts call the knowledge economy. This is an economy in which new knowledge, in all of its many forms, is reshaping and transforming old industries and businesses, creating new industries and businesses, and ultimately affecting individuals, families, communities, and institutions throughout the world. For these reasons, technology must be understood as one of major drivers of change in both business and society.

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.

 

Corporate Governance


Corporate governance refers to the overall control of a company’s actions. Several key stakeholder groups are involved in governing the corporation.

  • Managers occupy a strategic position because of their knowledge and day-to-day decision making.
  • The board of directors exercises formal legal authority over company policy.
  • Stockholders, whether individuals or institutions, have a vital stake in the company.
  • Employees, particularly those represented by unions or who own stock in the company, can affect some policies.
  • Government is involved through the laws and regulations.
  • Creditors who hold corporate debt may also influence a company’s policies.

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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