Our Management section discusses everything you need to keep the lights on. We discuss Operations Management, management styles, skills and techniques.
  • 5 functions of a company director


    As companies have grown, the figure of the CEO has gained prominence because in their hands rest different vital processes for the organization to succeed. The responsibilities and functions of a director are many and give shape to the organizational culture marking the course of the company and enhancing the joint work between the different areas of activity. The responsibilities and functions of the General Director in an organization are: 1. Encourage a good work environment One of the functions of the General Director is to promote a work environment that facilitates the achievement of the company’s objectives. The response of managers to problems and opportunities, as well as perfo...
  • Why you should learn to delegate?


    As a business owner, manager or supervisor delegation is a valuable skill to become good at. Proper delegation takes tasks off your plate and allows employees to develop and grow. It allows employees more responsibility and gives them new career opportunities. Delegation is often hard for most to start at. It usually comes from trust issues. It is hard for us to give up control. We may fear that the task will not be completed on time or to our standard. You may have the feeling as if you can do a better job, you are irreplaceable. It is especially hard to give up a process or task that you built up from scratch and have always owned. Start small. Start by delegating small tasks ...
  • Why You Should Consider Hiring A Business Consultant For Your Small Business?


    We cannot do it all. Sometimes we need help. Sometimes we just need to look at things in a different way. A business consultant can help you do that and potentially save your company money, improve performance and help you to make changes to achieve success. What Is A Business Consultant? A business consultant is an outside expert that can be hired to solve a business problem. They are an excellent source of knowledge, skills and experience. They understand all aspects of business, everything from business planning, sales, marketing and financing. A business consultant will analyze your problem; help you to develop strategies, goals and an action plan to reach the desired result, b...
  • Why Do Small Businesses Fail?


    Running a small business can be difficult and no one wants to fail but many do. New companies have the highest failure rate of all. In fact less than 60% of new business make it past the first two years. What Reasons Do Small Businesses Fail? Poor Planning You need to come up and write down your strategic plan. You need to analyze your competition, forecast sales and plan for a changing environment. Not Enough Capital If you do not have enough cash flow to keep the business operating then you will run into trouble. Small business owners take on lots of personal debt using their credit cards to run the business. Cash is the lifeblood of a business. Ineffective Marketing You always...
  • Theory X and Theory Y management styles compared


    Theory X and Theory Y management theories originated in the 1960s by Douglas McGregor. Theory X and Theory Y management styles make assumptions about human behavior and are essentially opposites of each other. These are among the first theories discussed in business schools, and are fairly easy to understand as they are two completely different viewpoints and most managers are somewhere between the two. Theory X is a very pessimistic view of employees while Theory Y is much more optimistic. These theories seem to try to give to ends of a spectrum and there are other management theories that build upon these. Theory X employees hate work and will do anything to avoid it employees ...
  • What is appreciative inquiry?


    Appreciative Inquiry is all about making change. It looks to the positive strengths to make change happen. The leader has to motivate and empower followers in order for the change to occur. Often when businesses or individuals have a problem they seek to find what is going wrong and focus all their efforts at resolving the negative. Appreciative Inquiry turns this on its head by finding what is working and focusing all efforts on make the positive even better. There are four stages of appreciative inquiry Discovery, Dream, Design and Destiny. (Daft, R. L. 2014 P.467) Discovery looks for the strengths to find what is working. Dream this allows us to imagine a world in which the organizat...
  • How to Sell Your Small Business


    Selling your business can be difficult, a long process and be emotional. There are steps you can take to help smooth the process and there are certain external professionals you should consider consulting with. The first thing you probably want to know is how much money will I get. A quick way to ballpark the price of the business is three times cash flow after all expenses and taxes. If your business nets you $100,000 per year, a good starting price for the business is to sell for $300,000. Everything is relative however. First, consider your situation. Why are you selling? This is one of the first questions any potential buyer will ask. Retirement, overworked, relocating, famil...
  • How to schedule staff to reduce costs


    Scheduling staff can be difficult and time consuming. There is just so much to think about. Labor laws, absences, vacation time and seniority to name a few. Employee wages can account for a majority of the costs to run a business so it is important to optimize it as best as possible. It is important to get scheduling done right so it reduces stress for not only management but also the employees. Job satisfaction increases if you allow employees a variety of shifts to pick from and allow them to swap shifts with others. Schedules should be as consistent as possible and any changes should be communicated to the staff. Do not forget to ask for their input. The requirements of the bus...
  • How to manage your inventory


    If you are in the business of selling products, you most likely will carry some sort of inventory. Inventory management it crucial to cost savings and running an efficient business. One of the worst things that can happen is continually wasting inventory, it is just cash out the door. Inventory can be one of the biggest expenses for a company. The goal is to use up 100% of inventory. Inventory is an asset of your business but too high inventory and you are wasting money. Too low and customer has to wait for item to come in and may go somewhere else. Record keeping You will need to manage on-hand quantities to ensure you have enough to do business but only keep the minimum you need ...
  • Sabotage of change initiative


    A change initiative may face many possibilities of resistance, among the greatest possible resistor is sabotage. Sabotage, occurs when someone tries to make the change fail on purpose and it happens more often than you think. In any change initiative there can be many stakeholders involved. The change agent must perform a stakeholder analysis to determine all those who have a stake in the initiative and what their level of power toward the impact of the project. The change agent must be aware of the motivations of each of the stakeholders. The knowledge of each stakeholder’s interest in the project, as well as the power they can provide. The key stakeholders are those with great power an...
  • Resistance to change and potential solutions


    Resistance to change if ignored can quickly slow or make change efforts fail altogether. This paper will first go through a case study from a well-known organization and discuss how they dealt with change in order to survive. Then it will discuss common motivations for change, causes of resistance and provide some solutions to resistance. Motivations for Change Change is about moving from one state to another. History has shown that companies who do not change can fall behind their competition and be wiped out. Sources of change can occur both internally and externally. Motivations include globalization, economic conditions, workforce trends, competition, suppliers, customers, new t...
  • Toxic employees resistant to change initiatives


    In some organizations, chronically resistant employees occur, who will consistently resist any change initiatives. These employees are afraid of change, attacking all things that are outside their comfort. Toxic employees use social hacking to manipulate others using rumors, silent treatment and intimidation. These employees need the environment not to change so they can hold onto their informal power. If no other employees on the team behave in this manner, then it is clear the employee does not fit well with the organization. If they are a valuable worker, the organization may attempt to find them work in a different area of the organization that could perhaps fit the personalities of...