Thursday, 27 October 2016

5 richest states in USA

Hello readers, today I will be telling you about the 5  richest states in USA. I have done my research for you. All the figures provided were gotten from a survey that used the data that were obtained at the end of 2015. Here are the richest states:

Connecticut
This state is located in the northeastern US. It is one of the richest states based on a survey carried out by the end of 2015. Its median household income is $71,346. The population of the state is 3,590,886. Its unemployment rate is 5.6%.

New Jersey
This state is located in the northeastern and mid-Atlantic parts of the United States. It is the 11th most populated area with 8,958,013 individuals living in the state. It has a median household income of $72,222. Its unemployment rate is also 5.6%. 

Alaska
This is a state that is located in the northwest of the Americas. It is the largest state in USA by area. There are 738,432 individuals living in the state. It is the 3rd least populous state. It has a median household income of $73,355. Its unemployment rate is 6.5%.

Hawaii
This is the newest state in USA, it gained statehood on the 21st of August, 1959. It is located in Oceania and it is the only state located there. It has a median household income of $73,486. Its unemployment rate is 3.6% (the 6th lowest when compared with other states).

Maryland
This state is located in the Mid-Atlantic region of the United States. It has a median household income of $75,847. It is the 19th most populous state in USA with a population of 6,006,041. Its unemployment rate is 5.2%.





Wednesday, 26 October 2016

Success factors for your restaurant

Hello readers, I hope your week has been good so far, today I will be telling you about the success factors for your restaurants. Here they are:


Products
Your menu and quality of food will go a long way in helping you achieve business success. When the menu of your food is unique and the quality of your food is good, you will get a lot of customers. A good chef and good quality ingredients will help make the quality of your food good.


Price
The quality of your food and services provided must be in alignment with the price of the food. You should provide value for money. Value for money will help you compete better. You will have to control your cost appropriately so as to be able to achieve this goal.


People
The customer service provided must be good. The way your staff members make customers feel will contribute to the success of your restaurant. Your staff members should be trained to be nice to customers. When customers feel good about your service then they will keep coming back.

Place
Your restaurant must be located in a place that is easily accessible to customers. A busy street is one area you can locate your restaurants so that distance would not discourage customers from coming over to the restaurant

Physical evidence
The ambiance of the restaurants will also contribute to the success of the business. The way the restaurant is decorated will influence customers to keep coming back. The design and furnishing of the restaurant can be used to differentiate your products.

Promotion
You should keep creating awareness about your restaurant, tell more individuals about it through advertisements. For example you could share flyers or advertise on the radio or television. It will depend on the amount of capital you have. You could also share free samples of your food on a busy street.

That is all for today, thank you for reading this article. Keep checking out my blog regularly

Tuesday, 25 October 2016

Division of Labour

Hello readers, today I will be writing about the division of labour. Division of labour is a situation where production processes are divided into parts and these parts are assigned to individuals. These individuals only assume parts that have been given to them to undertake. Benefits of making workers do only one tasks include efficiency. They are able to do their jobs faster. 

Jobs are assigned to employees based on their skill and experience. As the employee repeats the task he or she becomes an expert at it. As a result of division of labour the quality of the work the individual does improves. It contributes to the success of your business.

Division of labour encourages the production in large scale quantities which helps to reduce the cost of production which eventually adds to the success of the organisation. It also encourages workers to come up with better ways of carrying out their part, thus increases invention.

However, some individuals believe that  division of labour could make workers feel bored as they will be repeating the same task. Karl Marx is of the opinion that repeating the same tasks continuously  will lead to employees being disassociated from their job. 

That is all for today. thank you for reading this article, Keep checking my blog regularly.Cheers!

Monday, 24 October 2016

Tangible assets and intangible assets

Hello readers, today I will be writing about tangible assets and intangible assets. Tangible assets are physical by nature. You can touch them. Example of tangible assets are Land, equipment, machinery and others. These assets are used by company to carry out daily activities. Tangible could become damaged as a result of an accident. Tangible assets depreciates in value. It is easier to sell them when compared with intangible assets

There are two types of tangible assets which are the non-current assets and the current assets. Current assets are assets that are coverted into cash by the end of one year. Non-current asset are long term by nature. They are not converted into cash within one year. However, they can be liquidated when the company needs money. The non current assets are normally not expected to be sold.

Intangible assets on the other hand cannot be seen or touched. They are invisible. Example of intangible assets include copyright, patent, business logo and others. Intangible assets are amortized unlike tangible assets which are depreciated.

Intangible assets are not so easy to convert into cash. Valuation of this type of asset is not easy. They can be higher in value when compared to intangible assets. That is all for today.  Thank you for reading this article. Keep checking out my blog regularly. Cheers!


Friday, 21 October 2016

How to get rid of pride

Hello readers, today I will be telling you about how to eliminate pride. 

1. Believe in the oneness of Allah

2. Pray 5 times daily and ask Allah to help cleanse your heart from pride. You submit yourself in humility to Allah when praying

3. Giving out zakat and sadaqah is another way your heart can be cleansed of pride

4. Fasting during the month of Ramadan and fasting 3 times every month  will also strengthen you spiritually

5. Go for Pilgmrage if your physically and financially capable

6. Be always thankful.

Thursday, 20 October 2016

Playgrounds for families (Germany)

Hello readers, today I will be telling you about places you can visit with your family. All work and no play makes Jack a dull boy. Its best you do something fun every week. I have done my research for you , here they are:

Aquadom and Sealife
This is a place where kids and adults can explore the submarine world. You get to have a breathtaking  ride through the Aquarium. They carry out a demonstration of feeding animals, They are opened between 10 am and 7 pm, however, the latest time for entry is 6 pm. It is located in Berlin. Prices start from €10.90.

Holiday Park
This park is meant  for the family, as it has family rides,  thrill rides, child rides and water rides. It is best you choose rides you will be comfortable with meaning you are sure you can handle it. It is located in HaBloch. It is one of the most popular theme parks in Germany. Individuals ticket <85cm are free, however, the priced tickets start from €9.99.  

Jaderpark
It is a park for adventures, as it has a zoo, an amusement park and a place for children to play. They are opened during the summer from 9am till 6pm everyday. Opening time for other seasons was not mentioned. Prices for children (3-12 years) is €15.50, over 13 years individuals pay €17.50. It is for both adults and children. It is located in Jade.

Tucherland
It is an amusement park that is meant for the whole family. It has play areas that are indoor and outdoor. It is located in Nurnberg. They are opened between 2 pm to 7pm on Monday - Friday. They are also opened from 10am to 7pm on weekends and holidays. It is free for children under 2 years. Priced ticket starts from €4.50. 

Thank you for reading this article, keep checking out my blog regularly cheers.

Wednesday, 19 October 2016

Outsourcing an aspect of your business

Hello readers, today I will be telling you about outsourcing. Outsourcing is a situation whereby a company gives another company a portion of their work to  execute on their behalf. The benefits of outsourcing include:

Cheaper Cost
Outsourcing helps your company to reduce cost, the capital being saved will help your company execute other business transaction which will in turn make your company more attractive to investors.

Attend to core area
When you outsource an aspect of your business it helps you focus on the core areas of your business as you have free energy and time to work on those business task.

Increased efficiency
When you outsource that aspect of your business. You are giving it to an expert to help you execute the task. Since they are expert then it is most likely they will do the job better than you do, thus it will increase productivity and efficiency.

Reduced Risk
The risk your company faces such as risk from the government or your business market. If you outsource a particular business area, the experts you outsourced that  area to will be able to forecast the risk associated with the area you have outsourced to them (since they are experts), thus they will put control in place to reduce the risk or eliminate the risk.

Tuesday, 18 October 2016

Different types of appraisals

Hello readers, today I will be writing about the appraisal system. An appraisal system must be designed in such a way that it will help you achieve your business goals. It must be in alignment with the goals of the organisation. I will be telling you about the different types of appraisals available. I have done my research for you. Here they are

360 - Degree Appraisal
This is a type of appraisal whereby the individual carrying out the appraisal will interview managers, other employees, customers about the employee being appraised. The more information the individual carrying out the appraisal get about the person being appraised, the more accurate the appraisal will be

Rating Scale Appraisal
This method of appraisal is simple to use as employees are graded on a 1-5 or a 1-10 basis with 1 being the lowest and 5 being the highest if you are using 1-5 basis. While 10 being the highest if you are using the 1-10 basis. You can use it to appraise different area such as communication skills, interpersonal skills and the likes. In all this will help employers know whether the employee performance is good or poor since it grades employees on different aspect of the business. There will be a grade employees must achieved in order to know if they are performimg well. This is the most popularly used form of appraisal.

Objective based appraisal
This is situation  whereby an employer and an employee agree upon a task that the employee must achieve within a particular deadline. If the employer is able to carry out the tasks within the specified deadline the employee will be appraised nicely, however if the employee is unable to complete the task the appraisal of the individual will be poor.

Thank you for reading this article. Keep checking my blog regularly. Cheers!

Choosing the right business name

Hello readers, today I will telling you about choosing your business name. Your business name could help your business achieve growth.

A business name must portray the image you want your business to exude,  choose a name that will portray the image you will want the world to associate with your business A business name must be competitive, as such it must be a name that will be easy to remember and spell so that potential customers can easily recall it whenever they require your services and then can easily find you. All customer not only potential customers need to be able to recall your business name easily so that they can refer other customers to the business.

The business name will always give the first impression, it will let your customers know if you are aware of your business environment and it will also let them know if you are attentive. When the right name is chosen you will only have to explain what you do a little cause the name speaks for it self. However, some researchers believe a business name should be abstract, that way it intrigues potential customers and they are more likely to buy your business products or they might want to carry out a research about your organisation which could lead to a purchase.

A business name must be unique and not be similar to any other business name, apart from the potential mix up it will create for customers it could also lead to legal issues. A business name should not be too long, a name that customers will associate positive feelings to should be used. The name you use must appeal to the customers you want to attract to your business and not just you. A focus group could be used to have a perception about how people perceive the name of the business you want to use.

This page is from my book "Thank you for reading this article. Keep checking out my blog regularly. Cheers!














Friday, 14 October 2016

Giving out sadaqah

Hello readers, today I will be writing about sadaqah. Sadaqah is a voluntary charity. It is not obligatory, however, it is good for you. There is no fixed percentage when it comes to Sadaqah. You will give out based on what you have.

Allah loves charity, "Indeed, the men who practice charity and [they who] have loaned Allah a good loan. It will multiplied for them and they will have a noble reward." Quran, Chapter 57:18.

"They ask you [o Muhammad], what they should spend. Say, whatever you give should be for parents, close relatives, orphans, the needy and travellers. God is well aware of whatever good you do." Quran, Chapter 2: 215

From above, you can infer that sadaqah is good for you even though it is not obligatory. You get blessed for it anytime you give out sadaqah. Make sure you do give out. That is all for today. Thank you for reading this article. Keep checking out my blog regularly, Cheers!

5 countries you could visit

Hello readers, today I will telling you about some countries you could visit. Here they are:


Australia
It is located in the Australian continent. The capital  of this country is called Canberra. The language they speak in  the country is English.You can visit the Sydney harbour bridge and the bondi beach which are both located in Sydney, New South Wales, Australia

France
This country is located in Europe. The capital of this country is Paris which is a beautiful city. You should visit paris when you travel to France. It has a lot of tourist attraction but I will recommend you visit Seine, it is a river which you can cruise on at sunset. Eiffel Tower is another place you could visit in paris

United Arab Emirate
It is located in Asia. The seven largest cities in it are Dubai, Abu Dhabi, Sharjah, Ajman, Fujirah, Umm al- Quwain, Ras al -Khaimah. Dubai is the largest city in United Arab Emirate while Abu Dhabi is the capital city. Their official language is Arabic. They speak  English as well. You can visit the aquarium underwater zoo, aquarium tank and aquarium tunnel which are all located in Dubai. Yas Island is another place you can visit, it is located in Abu Dhabi.

USA
This is another country that you should visit, it is located  in North America. A total of 50 states makes it USA. Their official language is English. The capital of USA is Washington D.C, however, New York  is the largest city in USA. You can visit the Florida keys which is in Florida  and Niagaria falls which is in New York.

Zimbabwe 
This country is located in the southern part of Africa. The largest city in Zimbabwe, Harare is also the capital of the country. They mostly speak English, Ndebele and Shona.  You can visit the House boat on lake kariba, it  enables individuals to spend 5 days on the boat. You are also allowed to fish during the day.  The white water rafling on  Zambezi river is another place you could visit.

The tourist attraction I mentioned are all good ones, You could visit them. Thank you for reading this article. Keep checking out my blog regularly, cheers!


Wednesday, 12 October 2016

Corporate Social Responsibility

Hello readers, today I will be writing about the corporate social responsibility (CSR).  Corporate social responsibilty is the continuous action of a business to participate in the sustainable development of a society by providing benefits to all stakeholders of a business. The CSR pyramid will be used to describe the CSR further. The CSR covers four responsibilities which are the economic responsibility, legal responsibility, ethical responsibility and the philanthropic responsibility. 

Economic responsibility
Businesses were created with the aim of providing goods and services to meet a need in the society so as to be able make profit. It is the responsibility of managers to provide investors with good dividends as well as an increase the share price of their stocks. Employees also want a good salary and customers want goods and services at fair prices. Thus, it is the responsibility of the business to meet this economic needs.

Legal responsibility
A business must obey all the rules and regulations that governs the industry it operates in. This include the laws provided by the country the business operates in, the regulations of the body that governs the industry the business operates in and others

Ethical responsibility
A business must carry out the right activities whether or not the law has anything to do with it, that is what this responsibility is all about. Thus, even if there is no law preventing an action and the business deems it fit to be wrong then the business should not carry out such activity.

Philanthropic responsibility
It denotes that the business should be a good corporate citizen, encouraging businesses to contribute to the development of a society. They could donate money, build roads or schools (it is must be within the capability of the business), just something that will benefit the society at large without expecting anything in return.

That is all for today, thank you for reading this article. Keep checking out my blog regularly. Cheers!

Pricing your products: An introduction

Hello readers, today I am going to be writing about ways you can price your products. The pricing of your products will contribute to the success of your business. Prices must be high enough to cover your cost as well as make you profit. Your price must cover your costs if not you will be making losses and you definitely do not want that to happen. Some individuals put a markup on their costs, some use a profit margin, others use similar prices to that of the competitors.

The most popular method used is the profit margin. A situation where profit is calculated as a percentage of the sale price. A 20% profit margin on a sale price of  $150 will give you $30. If you just have your cost price which we can infer from this is $120. Your sales price will be $120/(100%-20%) . You will get $150, from there you will know your profit will be $30. This is one way to price your products.

The second method you can use is the cost markup, which is a situation whereby you add a fixed percentage to the cost of your products to get your sales figure. For example, a mark up of 25% on a product costs of $100 will give you $25 as your profit, thus your sales price will be $125.  This is another method you could use. You should know the difference between the profit margin and the cost mark up.

The third method is the competitive pricing. This is a situation where prices are fixed based on the prices of other competitors. For example if competitors are charging $20 on a small pack of rice, someone using this pricing strategy will also charge $20 for his/her own pack of rice. Competitive pricing is used when it is difficult to differentiate your own products.

That is all for today, thank you for reading this article, keep checking my blog regularly, cheers!

Tuesday, 11 October 2016

The importance of Information technology


Hello readers, so today, I will be telling you about information technology. Information technology plays a vital role in making it possible for managers to make decisions easily as it enhances communication within an organisation. Communication is made easier within firms and with other outside bodies. Someone in USA can communicate with someone in Germany. You can communicate with anyone in the world as a result of information technology. Examples of information technology include telephones, computers, flash drives, internet and others.

It enables work to be done efficiently within a business organisation. Jobs are executed in a fast way as a result of information technology. Automated process is developed as a result of information technology; which makes employees carry out their work fast. These enables them to execute other tasks since they can finish other tasks quickier. It also enables employees to work from home if the need arises.

Without information technology, storing your information will be difficult as storage facilities like cabinets will be needed to store your information written on paper. Information technology makes it easier to store information, as you could store information on your computer or flash drive. Passwords will be used to protect your information. It is safer to store information using technolgy rather than storing them in cabinets. Sophisticated information technology are developed to prevent systems from being hacked. Thus, making it easier and safer to store information.

Information technology has made it easier for companies to sell their products from any location, as orders can be made online by customers and the business can have the goods delivered to the doorsteps of customers. It has made it cheaper for some businesses to run, as they do not need a physical location to sell their products. It makes it easier for both the business and customers to carry out transactions.

It also makes it easier for business owners to employ individuals. As job vacancies can be easily communicated and potential employees can also apply for the job easily as a result of information technology. It also enables employees to work from home if the need arises.

That is all for today, thank you for reading this article. Keep checking out my blog regularly. Cheers!

Friday, 7 October 2016

Pilgrimage

Asalam Alaykum, today I will be telling about taking a pilgrimage to Mecca. It is the 5th pillar of Islam. The pilgrimage is a once in a lifetime obligation if you have the physical and financial capability to carry it out. However, you can perform the pilgrimage more than once " There are clear signs in it, it is the place where Abraham stood. Anyone who enters it will be secure. Pilgrimage to the House is a duty to God for anyone who is able to undertake it. Anyone who disbelieves should remember that God is independent of all creatures."Quran, Chapter 3:97

The pilgrimage also known as hajj (which means intend to journey) brings you closer to God, it also helps you clear your sins. It is largest annual gathering of people in the world. It occurs between the 8th and the 12th (sometimes 13th) of the last month of the Islamic calendar. The date changes with the Gregorian calendar, this is because the Islamic calendar is 11 days shorter than the Gregorian calendar. 

In performing the rites of hajj, the actions of Prophet Muhammed (peace be unto him) should be followed. The hajj is also associated with Prophet Ibrahim (peace be unto him).The rites of the hajj include ihram, tawwaf and sa'ay, the first day of Hajj, the second day of hajj, the third day of hajj, the fourth day of Hajj, the fifth day of hajj and the last day at Mina. Different actions will be carried out for each of these rites.

You should go for pilgrimage if you are physically fit for it and are able to afford it, as it is obligatory for you. That is all for today, thank you for reading this article. Keep checking out my blog regularly. Cheers!



Thursday, 6 October 2016

5 countries and their GDP (PPP) per capita income

Hello reader, today I will telling you about the countries with the highest GDP (PPP) per capita income. I have done my research for you as usual, here they are:

Qatar
This Islamic country is the country with the highest GDP (PPP) per capita income in 2015. It had a GDP (PPP) per capita income  of $143,788 as at 2015. It is located in Southwest Asia. Its main source of income is from their natural gas and oil reserves.

Luxembourg
This country is the second highest when it comes to the GDP (PPP) per capita income in 2015. As at 2015, it had a GDP (PPP) per capita income of $101,926. It is located in Europe. It is a diversified industrialized  country. It exports machinery, steel, foodstuffs, diamonds and other products.

Singapore
This country takes the third position when it comes to the GDP (PPP) per capita income in 2015. As at 2015, it had a GDP (PPP) per capita income of $85,209.  It is located in Southeast Asia. Singapore exports refined petroleum, chemicals, electronics and other products.

Kuwait
This country takes the 4th position when it comes to the GDP (PPP) per capita income in 2015. It had a GDP (PPP) per capita income of $71,312 in 2015. It is located in Western Asia. Its main source of income is from petroleum and it also provides financial services.

Brunei
With a GDP (PPP) per capita income of $70,817 in 2015, this country takes the 5th position. It is located in Southeast Asia. The country supports itself by exporting natural gas and crude oil.

That is all for today, thank you for reading this article. Keep checking out my blog regularly, cheers!



Wednesday, 5 October 2016

Delegating duties to others


Hello readers, have you considered delegating tasks to your subordinates. It is one of the ways to help your business grow. No matter how good you are, the growth of your business will be limited if you do not learn to delegate duties to others. This is because you cannot do everything yourself, so you will have to trust your subordinate to make good decisions when it comes to making decisions about duties you have delegated to them. You will have to train your staff well in order to be able deliver result according to your own standard.

You do not just delegate duties to just anyone, you should delegate duties to staff that have the skills to deliver results. Delegating duties to your staff can help your staff develop their skills which will be good for the business. You may be thinking they might not be able to deliver result the way you will do, this may be true, however, training them well will help your staff deliver results the way you like them to. Its good to aim for excellence and not perfectionism, delegating duties to individuals who you think are capable of carrying out the job is way of aiming for excellence.

As the owner of a business you need to work on the critical aspect of the business. Choose the tasks you want to delegate carefully, it could be tasks that you find uninteresting and you know the other person finds it interesting. It could also be a task you cannot carry out. The best managers do not know everything but are able to manage people well. A manager that studied business administration in school might need an engineering job to be done, so here it goes you cannot do everything your self.

When delegating duties you must give clear instructions so that the person you are delegating the duties to knows what to be done. Give instructions in such a way that the person does not feel insulted. You should always give credit to the person that completed the tasks, let it be known to others that the person completed the task. The individual that you delegate duties to should be given a measurable tasks with a deadline.

That is all for today, thank you for reading this article. Keep checking out my blog regularly, cheers!

Tuesday, 4 October 2016

How to set and achieve your business goals

Hello readers, today I am going to be telling you about how your business goals should be set and achieved. You should have long term goals and short term goals. There must be an alignment between your long term business goals and your short term business goals. Your long term goals should be broken into short term goals. Both set of goals will be achieved that way. Long term goals are goals that should be achieved after a period of 1 year. It could 2 years or 3 years or 10 years while your short term goals are to be achieved within a year or below.

The acronym SMART should be used when setting your goals. Your goals should specific, measurable, achievable, relevant and timely. For example do not say you want to make money, say I want to make $20000 within one year, selling 40 products monthly, this will allow my business to grow. I want to make $20000 within one year, that is specific and timely. Your goal will be measurable by keeping track of the money you make per month. It will become achievable with the notion of selling 40 products monthly to make the $20000. It will become relevant to your business because getting additional capital can help you grow your business.

Visualising your goals will help you achieve them. You can imagine what your life will be like after achieving these goals.  Praying 5 times daily to Allah can help you achieve your goals. The actions you will be carrying out daily in order to achieve your goals should be written down, this will also help you achieve your goals.

You have to be optimistic about achieving your goals, this will motivate you to go after them. You should believe in yourself that you can achieve your goals. Your goals must also be realistic as unrealistic goals will end up demotivating you. In other words, take small steps when setting your goals until you can achieve larger goals.

That is all for today. Thank you for reading this article. Keep checking out my blog regularly, cheers!