Management and Strategy Evaluation is an important concept in business. It critically examines the complete management process, namely, the planning, organising, directing, and controlling. It finds out the efficiency of the management by carefully examining the company’s plans, objectives, policies, procedures, personnel relations, and systems of control. Management auditing is conducted by a team of experts. They collect data from past records, members of management, clients, and employees. The data is analysed, and conclusions are drawn about managerial performance and efficiency.
Here’s what Peter Drucker, Austrian-American management consultant, educator, and author, has to say:
WHAT DO YOU THINK?
Let me know in the comments section.
In this ongoing series #GreatMinds on my blog, I am shining a spotlight on the important ideas that some very successful people keep talking about in their public life.
All business organisations prepare Profit and Loss Account. It gives a summary of the income and expenses for a specified period. They also prepare a Balance Sheet, which shows the financial position of the organisation at the end of the specified period. Financial statements are used to control the organisation. The figures for the current year can be compared with the previous year’s figures. They can also be compared with the figures of other similar organisations. Ratio analysis can be used to find out and analyse the financial statements. Ratio analysis helps to understand the profitability, liquidity, and solvency position of the business.
Here’s what Jim Blasingame, an American small business expert and radio talk-show host, has to say:
WHAT DO YOU THINK?
Let me know in the comments section.
In this ongoing series #GreatMinds on my blog, I am shining a spotlight on the important ideas that some very successful people keep talking about in their public life.
This is a new segment on my blog called #StoryoftheMonth. The idea is to bring forward short stories, fables, and anecdotes, that have a moral or insight for the delight of my readers! So, make sure you look out for these stories once every month!
The following story was contributed by my colleague, friend, and a reader of the blog: Professor Sudarshan Srinivasan. He often sends me interesting short stories as messages, and this time this particular story caught my eye. It is a thought-provoking one on “Perspective”.
This is a widely-shared short story called “State of Mind”.
Murugan, the proprietor of a coffee shop had been busy all day. Since it was a Saturday, his shop was more crowded than usual. The line of customers seemed unending. He had been on his toes since morning. By evening, he felt a splitting headache surfacing. As the clock ticked away, his headache worsened. Unable to bear it, he stepped out of the shop leaving his staff to look after the sales. He walked across the street to the Pharmacy to buy himself a painkiller to relieve his headache. He swallowed the pill and felt relieved. He knew that in a few minutes he would feel better. As he strolled out of the shop, he casually asked the salesgirl, “Where is Mr Gopalan, the Chemist? He’s not at the cash counter today!” The girl replied, “Sir, Mr Gopalan had a splitting headache and said he was going across to your coffee shop. He said a cup of hot coffee would relieve him of his headache.” The man was pushed deep in his thoughts at the irony of the situation. He mumbled, “Oh! I see.”
This is a typical case of looking outside ourselves for something that we have within us. How strange, but true! The Chemist relieves his headache by drinking coffee and the coffee shop owner finds relief in a pain-relieving pill! There are so many popular versions of this story, where the character is in search of a solution outside him, only to realise that they had everything required to solve the problem already.
Similarly, many of us travel across the lengths and breadths of the universe and also visit several shrines and ashrams to find peace. Eventually, we come to realize that real peace is within our hearts.
MORAL:
“Peace is a state of mind.”
Did you like the story? Let me know in the comment section.
Every week I try to write a new kind of post. Sometimes I want to elaborate on a concept that I have been thinking about. Sometimes I share a moving story with an important moral. Sometimes, like today, I come across a few motivational speakers and their work, and I am eager to share it with my readers. I want the young people who follow this blog to see this space as a source of motivation too!
You may have heard of Brian Tracy. He is a Canadian-American motivational public speaker and self-development author. He is most famous for his book “Eat that Frog!” and the “The Psychology of Selling” and many more.
In this short formula for “success”, Brian Tracy puts forward the traits an entrepreneur needs to develop to become a millionaire. But as you will read, you will realise that these are life values applicable to anyone who has a goal in mind.
7 C’s to Success with Brian Tracy
1. Clarity
If you can make other people understand your role in the organisation or business in 5 sentences that certainly means you have Clarity!
2. Competence
If you are aiming to be in the category of the top 10% in your field, you need to bring out your best in the areas of knowledge, judgment & efficiency.
3. Concentration
If you can continuously focus on one area of your task & be able to complete it from start to finish that means you have immense power to Concentrate.
4. Constraints
We all have constraints & weak thread which stops us from reaching our destination. Identifying, locating that bottleneck & plucking out will assure you of success.
5. Continuous learning
To earn, you need to learn. Keep learning all the time.
6. Commitment
Dedicated to quality, customers, society. The best of the employers and employees simply go about doing the right thing lifelong.
7. Courage
Courage to begin, persist with the obstacles, never give up at any cost to succeed in the end.
I found the one-hour lecture where Brian Tracy himself has expounded on the topic! He is funny and charming throughout the video! I hope you find value in his words.
Let me know in the comments: Which “C” is your strength?
Life is a rollercoaster ride. We all strive for success in life, but we must also embrace and celebrate failures. Failure acts as a stepping-stone to our eventual success. It helps us reflect and recalibrate our moves. Sometimes, this may lead us down a new path that will prove to be more satisfying. We must, therefore, not see failure as the end. Failure provides us opportunities to learn from our past mistakes when we reflect objectively.
Here’s what Denis Waitley, an American motivational speaker, writer and consultant, has to say:
WHAT DO YOU THINK?
Let me know in the comments section.
In this ongoing series #GreatMinds on my blog, I am shining a spotlight on the important ideas that some very successful people keep talking about in their public life.
“Meditation is a practice where an individual uses a technique – such as mindfulness, or focusing the mind on a particular object, thought, or activity – to train attention and awareness, and achieve a mentally clear and emotionally calm and stable state.” This is indeed a succinct and wonderful definition written on Wikipedia. I think that people mistake the purpose of meditation; it is not about controlling your thoughts. The point is to stop letting thoughts control you. We should make meditation a simple practice that we incorporate for 10 minutes in our day. When thoughts are crowding your mind, it is a distraction. When there are no thoughts, it is meditation. Buddha was asked, “What have you gained from meditation?” He replied, “Nothing! However,” Buddha said, “let me tell you what I lost: Anger, Anxiety, Depression, Insecurity, Fear of Old age and Death.”
Here’s what Sylvia Boorstein, an American author, psychotherapist, and Buddhist teacher, has to say:
WHAT DO YOU THINK?
Let me know in the comments section.
In this ongoing series #GreatMinds on my blog, I am shining a spotlight on the important ideas that some very successful people keep talking about in their public life.
I hope you enjoyed the Diwali holidays as I did! I was going through the festive greetings and responding to all our well-wishers when I read this text forwarded by a close friend of mine. I thought that it was the perfect message for my blog for my young readers to read. I am taking the liberty to share the complete message (of an anonymous author) here:
The festival has gone as suddenly as it had arrived. Your colourful diyas now protectively hold tiny pools of melted wax and ash. Your rangolis are still radiant, albeit slightly dishevelled.
As you walk on the streets this morning, you catch sight of last night’s celebrations all around, and you probably see or hear yourself and your loved ones laughing, in that very spot that someone cracked a joke yesterday.
Friends and extended family have now gone back home, making promises to meet again soon.
The sweets and savouries have now been stored away and will be served at tea-time, as mementoes of Diwali.
The clothes and jewellery that you chose with great care, that made their grand appearance yesterday, have been put away for the next big occasion. I hope you’ve taken pictures to preserve the memories.
As all the festivities slowly recede into the distance, I ask you for a promise that in your heart, you will let the lights remain; that in spirit and being, your celebrations will continue; that you will attempt to meet your loved ones a little more often. And that the laughter that came in abundance yesterday will make an appearance every day.
Life should be a continuous celebration — a festival of lights the whole year-round. Till then Keep the glow of face, heart & spirits high.
Diwali is slowly taking your leave now. It is time to bid goodbye to it but keep the sparkle inside you till it is back next year. Here’s wishing you all a happy festive spirit all year round.
When a primary product is offered with different features or benefits, essentially creating multiple “different” products or services, it’s called Product Line Pricing. The goal of product line pricing is to maximize profits. Think of a car, for example, which could be the primary product. It could come standard, with a sunroof and navigation system or fully stocked with all the features and add-ons. Each product after would then be priced accordingly. The more features offered, the more consumers will pay. The aim is to draw enough interest in the primary product that the upgraded product will be sold (at a greater price) based on the interest in the “basic” primary product. By using Product Line Pricing, some individual products may not make profits, but the intent is for the product line as a whole to turn a profit.
Here’s what Warren Buffet, an American business magnate, investor, and philanthropist, has to say:
WHAT DO YOU THINK?
Let me know in the comments section.
In this ongoing series #GreatMinds on my blog, I am shining a spotlight on the important ideas that some very successful people keep talking about in their public life.
