This blog aims at equipping individuals with business and finance tools in simplistic terms. It convers both business finance and personal finance. It also looks at the actions that can help you run a business successfully. It has some juicy flavour in it. It also aims at getting individuals closer to Allah (SWT) Enjoy!
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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!
Hello readers, today I will be writing about work-life balance. According to businessdictionary.com, work-life balance "is a comfortable state of equilibrium achieved between an employee's primary priorities of their employment position and their private lifestyle." All work and no play makes Jack a dull boy, thus, you should find a balance between work and play. Here are some tips to help you achieve it. 1. Do not check your email (work) after working hours, this will help improve the quality of time you spend with your family and friends. Thus, you should not be distracted by work when spending time with your family and friends. 2. When you decide to improve the situation of your work life balance, take it one step at a time. For example if you do not get to spend time in the evenings with your family during the week days due to coming back late from work, you should decide to spend one day a week and gradually increase it to two and then three till you get to spend the…
Hello readers, it has been a while. Hope you did not miss me much, the good news is I am back now. Today, I will be writing about competence. Competence is the ability that enables a company or an individual to deploy its resources effectively. It is neccessary for a company to have a competence target in all its business activities so as to deliver value to its customers. This will help create a competitive advantage for the company. Competencies must provide value to customers. It must be unique or able to develop greatly or be better than that of competitors. New products and services must be able to be developed as a result of the competence. It must be difficult for other competitors to obtain or imitate. Continually producing high quality products can make a company become a market leader (which is a core competence) as it provides a company with a competitive advantage. With high quality, higher prices can be demanded by the company from customers and the company will also be able…