Friday, 26 May 2017

Managing Employees

Hello readers, today I will be writing about managing employees. It is common knowledge that employees of an organisation are not owned by the organisation they work for. Thus, employees should always be treated as humans and not assets.

An employee will be motivated to deliver high quality results if the employee enjoys his/her working environment. In other words, employees deliver good results when they work with employees that act nicely, when the working environment is conducive and when managers implement decisions that does not lead to dissatisfaction. 

There is always a relationship that exists between an organisation and its employees that requires each party to satisfy each other's needs. It is usually perceived as a psychological  contract. Thus, both the employees and the organisation will be doing the giving and the receiving. The initial impression that a  employee perceives about the relationship between the organisation and employees goes a long way in influencing the level of performance the employee will be delivering.

Employers should provide employees with a reasonable sense of security, treat employees fairly based on performance and contribution and also treat them with respect. Employers must promote work life balance, this will enhance the general well being of employees, thus, leading to a healthy business environment.

That is all for today, keep checking my blog. Cheers!

Tuesday, 23 May 2017

The Partnership Business

Hello readers, today I will be writing about a partnership business. A partnership business is a form of business that is owned by two or more individuals, these individuals are called partners. Profit are shared amongst these partners in a way that it had been agreed upon. Profit-sharing should be agreed upon before starting the business.

It could be shared in a way that capital was contributed by each party or in a way each partner contributes in the management of the business. Capital can be raised from their personal savings or from family or from friends. There are various types of partners, however, the major ones will be discussed below

Active Partner
This is the individual who takes on the major role of managing the daily activities of the business. He/ she is responsible for the actions of the business.

Sleeping Partner
This individual only contributes capital to the business and does not participate in managing the activities of the firm. However, he/she partakes in sharing the profit and losses of the business. His/her relationship with the firm is not known to the general public.

Nominal Partner
This is an individual whose name is used in the business after permission has been taken from him or her, in other words the individual lends his/her name to the business. He/she does not contribute capital or partake in sharing the profit or losses of the business. He/she does not participate in managing the business.

That is all for today, keep checking out my blog. Cheers!

Thursday, 18 May 2017

How can your strategy be successful

Hello readers, today I will be telling you about ways to make your strategy a successful one. The scope is your strategy must be fit, in other words your strategy must be consistent with the environment your business operates in.

When I say environment, I am talking about both external and internal environments. Thus, you must understand the political, economic, socio-cultural, technological and legal environments your business operates in. The environmental protection that affects your organisation must also influence you when formulating your strategy. Therefore, PESTEL analysis can be used to understand the external environment of your business.

The internal environment also needs to be understood, as your strategy must also be in alignment with the internal environment. Understanding your internal environment will help you know the resources your business has, the capabilities of your business as well as the structure and system.

The SWOT analysis can be used to help you understand your internal environment as it analyses the strengths and weaknesses of your organisation as well as the opportunities and threats of the business. In all, if you want your organisational strategies to be effective and successful, your strategies must be in alignment with the external and internal environments of your organisation.

That is all for today. Keep checking out my blog. Cheers!

Monday, 15 May 2017

Becoming an effective leader

Hello readers, I hope you are all good. It has been a while since I have written an article. I am sorry about that. But I am glad some readers used the opportunity to read my previous articles. I will now be writing articles on twice a week. Today I will writing about becoming an effective leader.

Everyone can lead effectively, you can always learn to lead. To become an effective leader, you have to study one to understand why they are effective at what they do. The key qualities of an effective leader include having a dream, having the ability to motivate others, exuding integrity, having the ability to deal with challenges and making decisions. To be a successful leader you must set realistic high goals, be a positve thinker and must be willing to learn from others.

A leader must be willing to add value, people skills will have to be decoded in order to become a great leader. To be able to motivate people positively you need to have a clear sense of direction. Your followers will become demotivated if you lack clarity. By this, I mean you need to learn to have clear ways of achieving your goals this will lead to making effective decisions that you will stick with. Changing decisions continually will make your team members confused. Thus, demotivating them, you have to be able to give your team members hope. You should also let them know the benefits of achieving the goal.

People that achieve success always have long term plans. As a leader, you need at least a 3 to 5 year plan, you must always know where you want to go to. If you do not know what you want to achieve, you will definately not achieve it. A leader must be able to express his ideas and  plans to his/her team members clearly. The goals and benefits must be clearly defined. An idea or plan that is not described properly will hardly succeed.

A leader must have this mindset "if one person can achieve it, then anyone can achieve it." As a leader you are not going to achieve all your goals at one try. All effective leaders are flexible, thus if one method is not working try another method. There is this saying, if you try achieving a goal using one method and you do not achieve the goal, you should use another method to try to achieve the goal, as using the same method which failed before will likely fail again. A good leader must also delegate duties appropraitely.

Thats is all for today. Keep checking out my blog. Cheers!