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Strategic Planning Steps For Optimum Business Management

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Strategic Planning Steps Overview

The Strategic Planning Steps philosophy/business system is an organizational tool that is used by groups and corporations globally to refine their goals and maximize their resources. Drawing from the concepts of strategic military planning, the Strategic Planning process is one way in which businesses strive to attain a competitive edge. Strategic planning involves defining goals, creating an adaptable business plan and measuring core competencies of staff to increase productivity and results. The understanding and implementation of Strategic Planning Steps can significantly affect a company’s ability to maximize revenue and growth. The steps have been used effectively in many fields of business, education and government to formulate productive business systems and resource management solutions.

Strategic Planning Steps Defined

While there are several different approaches to implementing Strategic Planning Steps , most models use the following definitions:

* Mission definition : The mission definition stage of Strategic Planning encourages an organization to develop a brief description of purpose to Inform potential stockholders, employees and customers what they can expect from the company. From the mission definition, a mission statement can be developed that serves as a company’s calling card and core focus description.

* Vision/Trend Analysis : The next facet of Strategic Planning Steps directs a company to analyze current market trends and make committed decisions about where the business is heading. Defining long term goals and visualizing the future of the organization can help to focus current activities and important financial decisions.

* Strategic Objectives : Once long term goals have been set, the strategic objectives phase consists of formulating actual business plans to achieve the visualized goals. One acronym used frequently in this stage of Strategic Planning Steps is SMART. SMART stands for the type of objectives to be developed to fully realize the company’s long term goals. These objectives include:

o S Specific objectives

o M Measurable objectives

o A Achievable objectives

o R Resource-based, realistic objectives

o T Time-frame assessed objectives

* Critical Success Factors : Important milestones and achievements key to goal realization should be identified at the critical success factor stage of Strategic Planning. Singling out these factors provides an easy means for measuring the ongoing success of the business plan.

* Actions to be Implemented : After critical success factors have been identified, the next phase involves the development of action plans need to realize success. Specific tasks and organizations management strategies are designed to effectively implement the business plan. Task management is often defined by the core competencies required for each position in the company.

* Performance Analysis and Progress Measurement : The last of the most common steps is comprised of formulating methods by which to measure the organization’s progress. Comprehensive performance analysis tools and measurement criteria are developed to effectively monitor the success of the current system. These tools can be used to report both internally and externally on the progress and growth of the company.

Tapmi School Of Business, Jaipur

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About the School
TSB is an autonomous institution, with a state of art infrastructure, offering a full-time two-year fully residential post-graduate programme leading to MBA by Manipal University Jaipur.TSB, Jaipur will imbibe quality-excellence in management education in its entirety and adopt all the academic character of TAPMI in its functioning. The School will provide a rich learning environment comprising of a portfolio of pedagogical tools that include classroom interaction, case discussions, role-plays, group discussions, film-shows, simulations, games, field-projects and seminars by various industry experts and eminent academicians. It will lay emphasis on experiential learning process. The learning environment, curriculum, ambience etc. are conducive for the all-round growth of students as required by the corporate world. TSB, with its state-of-the-art facilities will draw from TAPMI the rich resources and culture of a truly world-class, fully residential management education. TSB, Jaipur is located at Manipal University Jaipur
Tapmi School of business (TSB), Jaipur blends the best in management education with real world industry experience to create the next generation of business leaders. If one looks around at the major business houses, industrialists, entrepreneurs and institution-builders in India, it is observed that the roots of many of them could be traced to Rajasthan. In fact Rajasthan which has rich cultural heritage claims to have the origins and development of true spirit of enterprise which is in essence the manifestation of entrepreneurial management aptitude, attitude, knowledge and skill.
Courses
Post graduate MBA (Masters in Business Administration).
Electives – Finance, Human Resource Management, Marketing, Information Technology, Media & Entertainment.
Eligibility
Students who have acquired a Bachelors degree of minimum three years duration from a UGC recognized University and have secured 50 per cent aggregate marks in a bachelors degree are eligible to apply for the program.
Overview
Tapmi School of Business, Jaipur is being established with a vision to make it a world class centre of excellence in business management education, at Jaipur (Rajasthan) where young minds will be provided the right balance of classroom learning and practical exposure to turn into successful professionals and inspiring business leaders.
This is an institution that believes in making business education highly relevant through constant course updates, regular industries interaction, hands-on exposure, faculty with right mix of industry and academic experience, group discussion, and management games for holistic developments of students and more importantly a deep sense of responsibility to the society at large.
Collaboration
Manipal University Jaipur is going to collaborate with universities which are already collaborating with other Manipal Group Universities

Singapore Payroll Software

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Payroll software is a software to compute employees salary based on their basic income, overtime with other allowances & deductions. And the payroll software must able to compute the income tax details at the end of the year and monthly provident fund contributions, etc

In Singapore there are few mandatory monthly contribution must be made to relevant departments like CPF (Central Provident Fund), FWL (Foreign Workers Levy), SDL (Skill Development Fund) CDAC, SINDA, MBMF.

CPF: This fund is management by a Singapore government body called Central Provident Fund. The objective is, to provide retirement income & housing options to the Singapore Citizens & residents. This CPF amount varies depends on the employees income & age. There are different set of percentage set by the CPF board to calculate the employees & employers portion.

It is mandatory that the employee must deduct the employees contribution from their salary and must send it to the CPF board together with the employer contribution before 14th of the every next month. It is a basis function that any Singapore payroll software should able to compute the CPF details as per CPF board regulation and should have the online facility to send it the CPF board directly.

SDL : This SDL (Skill Development Levy) is contributed by the employer only. Currently 0.25% of the employees salary up to S$4,500 must be contributed by the employer. This fund is managed to provide quality training to the Singapore employees workforce. Now the government is offering up to 90% subsidy to the qualified skill & training programmes. The payroll software should have the capable to calculate and should have the online facility to send the details to the CPF board.

CDAC, SINDA, MBMF: these are the community funds independently managed by the relevant ethnic organisations. Singapore government makes it mandatory that the entire employees must contribute to the respective organisations. The employer should deduct the relevant ethnic funds and must contribute to the CPF board every month. So the payroll software should have the option to calculate and online facility to contribute to the CPF board.

IR8A : It is a employers duty to send the employees yearly income to the IRAS (Inland Revenue Authority of Singapore). And the IRAS make it mandatory that the entire Singapore employers should contribute it via online method called Auto Inclusion. So the payroll software should able to combine the whole years employees income and should able to print out the IR8A forms which can be given to the employees for their reference. And the payroll software should have the Auto Inclusion online facility to send the income details directly to IRAS.

In addition to that good payroll software should have the option to print out the payslip. It must clearly show the employees basic salary, allowances, deductions and CPF & other ethnic fund deductions. At the end the payslip should have the net salary for the months and option to view the Year to Date details as well.

An Edge over the Competition Business Management Courses through Online Distance Learning Courses

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As the business field becomes more complicated, those who want to enter the profession are continually faced with new challenges. Companies are increasingly becoming more reliant on those with experience in business management courses to help them remain competitive amidst these changes. Those with degrees in this field, such as graduates of online distance learning courses can work as management consultants in the private industries as well as provide analysis and strategies to improve an organization’s structure, efficiency, and profits.

Graduates of business management courses may opt to be single practitioners or become part of large international organizations. Some graduates of these online distance learning courses become experts in a specific industry, common example of which are in healthcare or telecommunications. Others specialize by type of business function like human resources, marketing or logistics.

There is also a career in government for graduates of business management courses. Online distance learning courses in business management courses can specialize by type of agency. The work of these professionals varies with the client or employer as well as from project to project. Some projects may require a team of professionals, each specializing in one area. In other cases, individuals work independently with the organization’s managers. No matter what the case, it is expected that the graduates of business management courses work to collect, review, and analyze data in order to make recommendations to the organization.

Online distance learning courses follow the same coursework as traditional methods of learning. For business management courses, there is the option to take a bachelor’s degree, a master’s degree, or even a type of specialized expertise that can also be taken through online distance learning courses.

The educational requirements for entry-level jobs in business management vary depending on the employer. Many employers in private industry generally seek individuals with a master’s degree in business management courses. Some employers also require additional years of training in the field or industry, which can be from online distance learning courses that the employer plans to specialize in.

There are quite a number of universities that offer online distance learning courses. Common fields of study include business, management, and accounting. Marketing, economics, and even statistics may be included in the coursework. Employment in business management is expected to grow 24 percent and keen competition is expected for jobs because of attractive salary rates.

Visit ICI.NET.AU for affordable Business Management Certificate, Business Management Programs, Business Management Diploma, Business Management Degree Courses and build the career of your dreams.

Determining Kpi Metrics For Measuring Brand Impact On Your Business

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The idea of a brand is deeply rooted in the psyche of managers as being associated with the delivery of tangible products to consumers but today we are increasingly delivering intangible services rather than goods so is branding still relevant. Traditionally a business has been viewed by senior management as split into discrete divisions, sales and marketing, production, HR, IT, legal and accounting. Some divisions created revenue and b the brand identity was important for customer recognition and action needed to be taken to maximize that while other divisions created cost that reduced the brand value and this needed to be cut. Following this methodology would logically result in increased profits.

This led in practice to highly dysfunctional decision making with, for example, IT staff being cut only for decreased effectiveness across the business producing reducing sales generation and increasing costs in other parts of the business.

Decreased profitability was the result of making otherwise perfectly logical business decisions based on KPI metrics.

The Balanced Business Scorecard seeks to address this dysfunctional approach to business management and looks at how the entire business operates as a cohesive, holistic whole. Viewing all divisions of the business as creating value allows for logical rational business decisions that do lead to increased shareholder value and enhanced profitability.

Is measuring traditional brand metrics still relevant?

The blunt answer is yes, the company brand is perhaps more important than it ever has been but how the brand is being used has probably altered greatly as is how the value of a brand is perceived not just by customers but also by shareholders.

For many listed companies the value ascribed to the company brand accounts for more than a third of the company share value. In many instances, brand value accounts for far more than that. The issue is how do we measure brand value and what metrics are available for us to use as part of a Brand KPI tool.

Using financial metrics for brand performance measurement you will find the following as the primary metrics to monitor and analyze:

– Sales Generation – measures brand as a factor in the purchasing decision
– ROI – measures the ROI using the accounting goodwill value and treating it as any other balance sheet asset
– Transaction Value – looks at the contribution from product lines and product mix and the impact of the brand on that contribution
– Growth Sustainability -this is a measure of how much the brand is contributing to sales rate growth without the business introducing further investment to gain that market share.

Financial value is probably the simplest metric to determine as we can extrapolate “goodwill” valuations using accounting and financial data coupled with share price information. At least with share pricing information we have a set finite value that the market is placing on our business and the financial accounting information can give us a basis for determining how much of the price the market will pay for a share is determined by the valuation of the goodwill.

Measuring brand perception and performance is trickier as we dealing with nebulous concepts that we know have an impact but cannot directly measure. Performing customer awareness surveys will help in providing a measure of how well known the brand is with consumers in a given section of the population or target market segment. All of these can be measured but the metrics that are produced are based upon subjective questioning and even more subjective answers.