Trend Analysis


Managers must often determine whether the variations in business activity indicated by statistics have any regular pattern.

Trend analysis, also known as time-series analysis, is the examination of data over a sufficiently long time so that regularities and relationships can be detected, interpreted, and used as the basis for forecasts of business activity. Such an analysis generally explains changes in terms of three factors: seasonal variations, cyclical variations, and secular (or long-term) trends in business growth.

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.

Statistics of Supply and Demand


Equilibrium is determined by the interaction of given supply and demand curves. But what about changes in supply and demand? Such changes can be interpreted as shifts of the supply, curve, of the demand curve, or both at once.

Perhaps as a result of altered preferences, buyers suddenly want to continue more of some good at each possible price. This is called an increase of demand. The basic technique in analyzing some economic change will be to ask: Is the change reflected in a shift of supply, or a shift of demand (or possibly, of both)? It will be immediately evident that an increase in demand alone leads to an increase in both equilibrium price and equilibrium quantity. An increase in supply leads to an increase in equilibrium quantity, but to a decrease in equilibrium price.

It is sometimes useful to distinguish between those sources of change originating “outside” and those originating “inside” the economic system. The “outside” sources of variation include” 1) Changes in tastes, 2) changes in technology, changes in resources, and 3) changes in resources, and 4) changes in the political-legal system. All these changes can be regarded, in some degree at least, as originating autonomously rather than in response to economic factors.

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.

Downsizing, Rightsizing


Indeed, organizations have been rapidly reducing the number of employees needed to operate effectively—a process known as downsizing. Typically this involves more than just laying off people in a move to save money. It is directed at adjusting the number of employees needed to work in newly designed organizations and is, therefore, also known as rightsizing. Whatever you call it, the bottom line is clear. Many organizations need fewer people to operate today than in the past—sometimes far fewer. The statistics tell a sobering tale. Downsizings are not a unique manifestation of current economic trends. In the recent past, some degree of downsizing has occurred in about half of all companies—especially in the middle management and supervisory ranks. Experts agree that rapid changes in technology have been largely responsible for much of this.

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.

Courtesy and Competence


The two go hand in hand. Statistics show that customers seem to be happier being served by an enthusiastic amateur rather than an indifferent expert. Now for you this might be determined by whatever it is you’re being served with as a customer. For example, if I was going to the dentist, I think I might put up with some indifference if it was an expert dentist. However, the reality is of course that we want both. I would like a dentist that was relaxed and personable and at the same time accurate with his/her instruments.

Common courtesies and manners are very important, probably more important than you may consider at this point. They are also, very often, culturally based—for example, German consumers will place less importance than Italian or British consumers on such things as friendliness and personality. How you can actually be courteous and good mannered will also vary, for example, in Britain many people will shy away from the perhaps over zealous. American style of being best buddies and will avoid expressions such as ‘have a nice day’ even though, when said sincerely, customers warm to them.

Competence means that whoever serves the customer in your business or whoever supports people that serve customers in your business has to do things and do them well. It means getting things right first time. It means knowing what you should know. It means doing what you can do to the best that you can do it—competence and courtesy, hand in hand—it’s a licence to keep customers for life.

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, Line of Sight