Management by Objectives Increases Effectiveness

What does it mean to be a manager? While the skills to be an effective manager are many and the exact mix of skills necessary will vary from job to job and sector to sector, most writers on business and management agree that successful management involves the planning, organising, leading and controlling of resources, including personnel, to efficiently and effectively achieve organisational aims.

If you do any of these things, then you are a manager, whether or not the word “manager” appears in your official job title. However, many managers, especially ones new in the role, don’t feel well-prepared for the job and consequently, need advice and guidance in how to begin to fulfill their new role in a way that is effective and satisfies the requirements of superiors.

Know that, although there are no absolute measures of managerial effectiveness, nevertheless there is broad agreement that when a manager satisfies the aims and goals of the organisation he or she works for, effectiveness has been achieved. The problem is in defining exactly what these aims and goals are and then laying out a format of standard operating procedures that managers can follow to become more effective in achieving them.

One such way is the KPI, or Key Performance Indicator, a well-known approach where the job requirements of a management role are specified in a list of qualities, skills and outcomes written down on paper, with important ones subdivided into smaller subgoals with a numerical target attached, such as number of units sold, percentage increase achieved or number of times completed in order for the manager’s performance to be deemed satisfactory.

In particular, one of the most famous versions of the KPI solution is the “Management by Objectives” approach of Peter Drucker, the renowned writer on management issues. This is where the aims and goals of the organisation are arranged and presented as “Objectives” that must be fulfilled and then managers are evaluated on how well they contributed to the achievement of those objectives.

The downside to this approach is that it is often very difficult to apply in the real-life workplace. Typically, many problems arise and a whole range of issues complicate the achievement of these objectives, which can sometimes suggest that the idea itself is not all that great. However, the general consensus in business is that it is felt to be a practical construct and a useful description of “how things ought to be done”, even if things do not actually always end up being done exactly as the model describes. So, despite its difficulty in application, Drucker’s Management by Objectives remains an excellent way to envisage the goals of an organisation and create a template of performance for managers to strive for, while also acting as a map that guides the organisation in the achievement of its aims and the development of its future business trajectory.

In addition, Drucker also delineates eight practices that all effective managers follow -

1/ They ask “what needs to be done”

2/ They ask “what is right for the enterprise”

3/ They develop action plans

4/ They take responsibility for decisions

5/ They take responsibility for communicating

6/ They focus on opportunities

7/ They run productive meetings

8/ They think and say “we” rather than “I”

These eight practices of effective managers can be grouped into 3 areas – the first two practices give them the knowledge they need to do their job; the next four allow them to change this knowledge into action; the last two make sure that the whole team or organisation is responsible and accountable (not just the individual manager).

So a commitment by organisations to implement, at least as a broad framework, Drucker’s Management by Objectives and a commitment by managers to perform the eight practices described above will lead to greater movement towards organisational goals and a marked increase in managerial effectiveness.

How to Choose a Good Mobile App Developer for Maximizing Your Business

A mobile application for business is becoming more and more important to maximize your business potentials. Not only does this attract more customers and broaden your communications with them, mobile apps are also helpful in building an associating with your website, generating extra advertisement and earning, improving your company’s image, making communication easier, and most importantly securing your business. To obtain the best results for your project, choosing a good app developer is very crucial. Here are a few considerations you should keep in mind while selecting app developers.

1. Know their specialties

Sometimes, a design agency that is good at making mobile apps for iPhone and iPad doesn’t have the same capabilities while developing apps for Android-based devices and vice versa. This is due to the fact that the coding characteristics for iOS and Android platforms are different. One app developer may be more familiar with one particular platform. In other cases, a developer may simply want to focus on one of these platforms.

2. Know their experience

Since iOS and Android-based phones and tablet computers have only been on the market for a few years, there is a possibility that you might face difficulties in finding an agency that has been in business for a longtime. However, you should not choose beginners to develop your mobile business app, as you may pay for their process of learning, and it may cost more or take longer to complete the task. Some developers have focused on mobile apps after already developing desktop applications for some time. They can bring a lot of experience to the table.

3. Ask for testimonials and references

If the developer cannot give you a list of testimonials or references from prior clients, look for another one who can do so. Testimonials and references are significant so that you know how well they can handle mobile app projects. Even when they give you their list of former clients, make sure you contact the clients one by one to make sure that the list is the real deal.

4. Ask whether they have a customer warranty

Developing mobile apps is not always easy and sometimes there are glitches or bugs found after the apps are launched. If this situation occurs, you need to make sure that the app developer shows responsibility to fix the bugs. Before agreeing to cooperate with a certain app developer, make sure to read their terms and conditions thoroughly, and ask a lot of questions, especially about follow-up service. A good web developer will answer all your doubts clearly instead of giving you more confusion.

Why Business Analytics Is Essential for Running a Successful Business

WHY IS BUSINESS ANALYTICS IMPORTANT?
The foremost goal of any organization is profitability, and customer satisfaction is a huge component of the success of a business. When an organization innovates and stays ahead of its competition, it fulfills and goes beyond customer expectations. Many businesses still rely on ineffective, time-consuming traditional techniques for decision making processes that cannot keep pace with the competition.

The use of “Gut feel” in taking strategic decisions still plays an important role among business leaders. But does reliance on “Gut feeling” and “Traditional techniques” make for smart decision-making? What’s the best approach?

The technology boom has given rise to innovations in how data is used. Business analytics is the solution and the best move to ensure competitiveness in today’s era. To define the term: “Business analytics, one of the emerging fields in the data science, refers to the methods and various statistical and quantitative techniques used by an organization for informed decision making and business modeling”.

Analytics is the change that helps you to get your business on track. It assists the businesses to convert the humongous amount of generalized data into observation, patterning and vision.

BENEFITS OF BUSINESS ANALYTICS
What was discussed above is just an academic definition. Now let’s discuss why one needs to adopt it in business operations:

Fast decisions are easily taken, but what matters is smart decisions taken in a short period. It helps to inculcate faster and smarter decision making into business culture of your organization. With the help of business analytics, the company can empower a team for data analysis to extract targeted information. When a company accesses accurate and essential data, undoubtedly, it will take the right decisions.
Analytics helps in quantifying business values.
Most businesses provide training programs for fresh recruits or older employees where the core business values are imparted or refreshed. Instead, companies should go a step further and undertake the help of business analytics to translate business values into numbers. This is a more cost and time efficient undertaking.

CAREER PATH OF A BUSINESS ANALYST
A business analyst is one who assists organizations in the process of business analytics. The career path of a business analyst is not strictly defined as there are several options based on industry, qualifications, interests, preferences etc.

Training provides trainees with the skills and knowledge needed for a proper understanding and interpretation of data.
Training courses help students in getting exposed to data systems and tools like R, SAS, Python etc. making them eligible for various analytical jobs.
The best incentive for undergoing a course is that the industry-best average salary of a business analyst is Rs 491,522 a year. There are various skills that can increase the pay scale of a business analyst like project management, SAS etc.

CONCLUSION

The role of a business analyst is often seen as one that bridges the gap between different departments in an organization. There are various business analytics courses which can help you achieve all the benefits mentioned above. Candidates with these skills can help an organization to strategically improve operational efficiency.

How To Turn Your New Business Into A Successful Brand

You have started a firm which aims at selling or providing its consumers with goods, this exactly is a business. But how to know when you should start calling your business not a business anymore but a brand? Because a brand is not just a business, company or a firm simply. Rather, it is much more than just a logo.

A brand is actually the image a company or business firm holds on its products, services, staff, their uniforms, their styles of service and even their advertisement techniques. All these sum up to be the experiences your clients might have with your business firm or your company. A well-known and good brand takes care of this experience that its customers might have with it and also struggles to develop trust and integrity between the two. The importance of this point must be realized that the life, as well as the prosperity of your brand, depends on what your company does and the way it does so.

This includes every kind of interaction that you have with your clients involving the content you put on your website and on all the social media forums like Facebook,
Twitter, Instagram, Snapchat, etc.

If your budget is tight, but you still want your business and brand to flourish to their max, then you can easily get your target achieved by following the tips of brand promotion that are given below.

Firstly, Define Your Brand
Whenever you are undergoing an interaction with any of your customers, be it through some content that you are currently creating or if it is a direct talk being held with them, you must start off by defining your brand and explaining its aims and goals.

Regard Your Brand as Some Person
As a person’s beliefs, moral values, and aims in life build his character and personality up likewise a brand, when considered as a person, is also something whose image will develop in the light of the thoughts that are put in while creating and developing it.

Keep In Sight the Drive Behind Your Brand
One must never digress from the actual track of whatever he is doing. Therefore, it is very important to always keep in mind that what it actually is that made you start your business. The motives behind your brand’s creation and development, its purposes and targets that it is meant to achieve, everything is important.

Try To Develop Consistent Relationships with Customers
One thing that is very necessary to keep in mind is that you must never try to lay down a false, fraudulent or deceitful coating over an offer of your brand so that the customers raise their expectations and later on their dreams related to your product or service are broken. Rather, you must always focus on building trust-based relationships with your customers which last for a longer time in order to be successful in getting some brand promotion.

Abstain From Imitating Other Brands
Your aim must be to carve your own distinct and distinguishable identity. And for that matter, you must talk inventively and avoid repeating your words. Secondly, you must never imitate any other chain of brands in any form at all. Because this won’t help in brand promotion at all.

Never Forget What Requirements Branding Holds
These requirements include the one most important one which is the needs and demands of the customers. They are an ever-changing phenomenon so one’s brand must be flexible, bold and daring enough to cater them efficiently and effectively.

Your Logo Alone Isn’t the One Promoting Your Brand
One must never be naïve enough to think that a logo of his brand stamped upon every product will make people buy it. The reality is that apart from the image of your logo, there are many other factors helping you in your brand promotion.