All posts in Business Management

Employee Empowerment

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Take things step by step: At first, assign projects that are well suited to participatory collaboration. Gradually move toward taking a collaborative approach to all team projects.

What are the advantages?

Employee empowerment is a beneficial process for employees, managers, and the company as a whole. Employees feel more invested in the company, valued as important contributors, and motivated to excel.

People who actively participate in the workplace see greater skill development, and gain a greater understanding of which techniques are effective and which ones are not. They also have a greater opportunity to come up with creative solutions to problems, and novel ways to improve performance . The power to utilize their creativity and knowledge leads to expertise. People who are able to independently evaluate and implement projects have a sense of ownership that makes them committed to the project’s success.

Indicators:

Empowerment can be difficult to quantify. There are no statistics or percentages by which to measure its success. When it comes to empowerment, qualitative indicators are the most important measure of success. Understand, however, that change does not occur overnight.

Indicators of success include:

Open management: Team members are actively involved in meetings, evaluation and analysis of important issues, and identifying creative solutions. Managers support their skill and autonomy, and allow team members to exercise control in these matters.

Team spirit: Team members and managers alike show a high degree of enthusiasm, and company morale is high.

Decentralized control: Team members function in relative autonomy, with overlapping roles and functions, all the while maintaining clear individual roles.

Taking these important employee empowerment measures will result in a more skilled, motivated, and autonomous employee team while at the same time increasing the overall effectiveness of the company.

Kpo Travel Services In India

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Knowledge process outsourcing (KPO) is a form of outsourcing, including legal process outsourcing. These are both high-value-added forms of business process outsourcing (BPO). KPO firms provide domain-based processes and business expertise, rather than just process expertise, and actually make many low level business decisions – typically those that are easily undone if they conflict with higher-level business plans.

KPO is one step ahead of Business Processing Outsourcing (BPO). BPO industry turning into Knowledge Process Outsourcing. KPO Industry handling more high skilled work than BPO Industry. KPO helps companies to create huge business opportunities. KPO firms provide domain-based processes and business expertise, rather than just process expertise. Intellectual Property Research, Pharmaceuticals Services, Medical Content & Services and Writing Services are typical KPO Services. In today’s generation KPO has lead in outsourcing business. KPO service providers also face various challenges. The Knowledge Process Outsourcing is becoming the high valuable interests of companies for their business strategies and protection. KPO services can reduce design times, manage hardware efficiently and provide research on markets thereby helping in informed-decision making.

KPO or knowledge process outsourcing can be termed as high value added forms of business process outsourcing or BPO. Unlike random customer service or handling of low end inbound and outbound calls KPO firms deliver high end domain specific processes and business expertise. It may include research and work on intellectual property, equity and finance, market analysis, database management etc. In fact on a broad sense, it can include white collar jobs from any and every industry. Be it media outsourcing, legal process outsourcing (LPO), a KPO can be set up in any near shore or offshore center on any given industry and vertical.

I have included some KPO services that are outsourcable:
*Research, Development & Analysis
*Business and Technical Analysis
*E-Learning Solutions
*Cartoon Animation & Design
*Business Management & Market Research (Qualitative and Quantitative)
*Pharmaceuticals, Biotechnology and Healthcare
*Medical Services
*Writing & Content Development
*Legal Services or Legal Process Outsourcing
*Media Outsourcing
*Intellectual Property (IP) Research
*Data Analytics
*Logistics and Data Warehousing Analysis
*Network Management
*Corporate Training & Consultancy

The major benefits of the KPO outsourcing services are described below.
*Cost reductions.
*Standard operational efficiency.
*Expert man-power.
*Time Saving.
*Profit Increments.
*Large man-power without raising costs.

How KPOs can innovate
KPOs can go a step further than standardized processes. They can define quality for highly subjective and judgmental processes (output) and create systems to check. For instance, Integreon has a concept to measure output and define efficiency: the EWU (Equivalent Work Unit). Industrializing processes will not be enough; companies must standardize complex processes to achieve scale. Complex analysis requires not just domain experience, but more importantly, domain expertise. For this, companies can provide training programs for complex skill sets and establish high professional standards. Given the regulatory-sensitive nature of the information that flows into KPOs, employee due diligence, and security and confidentiality practices should be mandatory.

The Difference Between Sde And Ebitda

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The 3 most commonly used valuation methods are the Income, Market, & Asset approach. With the income approach, a business value is based upon the earnings the enterprise generates. Buyers are most concerned with the amount of earnings that the company produces should they acquire the business. The net ordinary income, utilized for tax reporting purposes, does not properly reflect the true earnings of the company based on the non-cash, discretionary & non-recurring items that are expensed by the business owner. Earnings are kept low to achieve the goal of reducing taxes. Therefore, to calculate the true earning capacity of the company, the P&L statements need to be adjusted during a valuation to determine SDE or EBITDA. Re-casting the financial statements will standardize (or normalize) the company earnings through the exclusion of discretionary, variable and non-recurring components, allowing an objective comparison to be made between two or more companies. By applying a multiple to the EBITDA or SDE amount, consistent with the industry sector and a weighting of the issues affecting the business, will derive the business value.

What is Sellers Discretionary Earnings (SDE)?
Sellers Discretionary Earnings is utilized for businesses with under $1mm in adjusted earnings. These businesses often have the owner managing the company and receiving a salary. With these small enterprises it is critical to determine what the owner benefit is as opposed to the earnings of the company. This is accomplished through a series of profit and loss statement adjustments termed add-backs that are made to the pre-tax company earnings. In some instances, there are negative add-backs as in the case with a business that owns real property (e.g. the building & land) where the owner is compensating himself a below market rent or a family employee working for the company who is receiving a below market salary. In both of these cases, an adjustment is made to normalize the expense to the current market value.

The most common adjustments used during the re-casting process are:
1. Add-back one owner’s total compensation
a. Salary
b. Payroll Taxes
c. Retirement Contributions e.g. 401K
d. Insurance
e. Perks (Health Club, etc)

2. Add-back interest expense

3. Add-back discretionary expenses
a. Donations
b. Personal Cell Phones
c. Travel, Meals, & Entertainment
d. Owners Vehicles (not used in business)

4. Add-back non-cash expenses
a. Depreciation
b. Amortization

5. Add-back Non-recurring expenses
a. Fines / Bank Penalties
b. Attorney fees (e.g. sale of business consultation)

6. Adjust Lease to Fair Market Value

What is Earnings Before Interest Taxes Depreciation Amortization (EBITDA)?
EBITDA is used to define the earnings of the company for businesses with adjusted income greater than $1mm. Here, the owner/investor is typically not active in the direction or daily management of the business and will hire a general manager to perform that function. Therefore, the EBITDA calculation will differ from SDE as it incorporates the general managers salary in the earnings calculation as an expense. EBITDA is a non-GAAP measure that is used to determine profitability and to make comparisons between companies and industries as it eliminates the impact of the financing and accounting decisions made. An easy way to determine EBITDA is to subtract the owners compensation and benefits from SDE. The EBITDA dollar amount will be lower than SDE but the multiple used in the valuation formula will be higher, often 2-2.5 times the SDE multiple. Therefore, as one would anticipate the FMV of the same business calculated using either method should be very close to each other. If not, an assessment as to why and which (or what other method(s)) must be undertaken.

Hotel 25 Improvements How To Succeed In Hotel Industry

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Movement is life. This principle is true for business as well. Every business must develop otherwise it will fail sooner or later. Loss of competitive advantage results in loss of customers. There is a tough competition in all markets, and customers of free to choose any products they like. If a customer is not buying from you it will most certainly buy from your competitor. This is true for all businesses, including hotel business. This industry is highly competitive as there are hundreds of hotels in every country. When high season comes hotel top managers do everything possible to attract customers and make them stay in their hotels. Of course, they do not only promise high quality services but the actually offer them. Hotel is not just a place where you spend the night. Some people want to feel at home in a hotel. This is possible in case you come to a top quality hotel.

In order to improve hotel services owners and managers of our hotel need to know where to start from. In other words they have to be aware of current performance in order to make plans for the future. Until recently performance evaluation was about measurement of financial indicators for the past periods. Such approach is not perfect since it misses nonfinancial indicators that are extremely important in any industry. It is not enough just to announce implementation of new plans and improvements in hotel. A real work begins when these improvements are implemented and measured.

For example, if a new service, say, WiFi connection in all rooms is introduced the hotel spends a certain amount of money to buy equipment and maintain network. Then, the quality of Wireless Network has to be evaluated. However, what is more important is the attitude of customers towards this new service and the way they use it. If it turns out that only 10% of hotel guests actually use wireless network and only half of them really require high speed Internet there is probably no point in spending huge money for super speedy Internet. If most of hotel guests are business people for whom high speed Internet is necessity than well established wireless connection is a must.

If improvements concern reception service top management of a hotel needs to understand who their guests are and why they come to their hotel. If most of them are tourists than it would be reasonable to introduce new services like offering information on sightseeing tours, contact details of various Entertainment Services, taxi phone numbers etc. As time passes by, efficiency of these improvements needs to be tested in order to introduce amendments if necessary.

Such evaluation of improvements can be performed with the help of Balanced Scorecard which is a very efficient performance evaluation and strategic management system. Balanced Scorecard will coordinate efforts of all services and business units of a hotel and align strategies of different departments, for example restaurants and hairdressers service. This is a flexible system which means changes can be easily introduced.

Business Management Colleges creating business environment with strong principles

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The research of enterprise in order to come up with powerful results is what trained in enterprise control programs. The whole and single aim of this research is to generate control in enterprise area, which can modify the luck of their specific enterprise. The vital element to reach the brain is about the needs of control in business industry. Let me tell you that its enterprise that need highest level of control than any other industry. One bad choice taken by the ones seated on the top could load up the bag of even the big business home. So, an intelligent enterprise administrator who has the right understanding and concentrate could take the enterprise far more forward with his appropriate options. With the propagate of big corporate on the market, research of business became one most popular relationships among the learners. Those who are moving past out of their school institutions, wish to get signed up into the best enterprise institutions. Business schools in India have blossomed with some time to have created variety of powerful experts who have eventually left their impact to get followed, not only at house but offshore as well. In these business control university, various factors of people are taken proper care of. Different exercising applications in these institutions help increase the personality of its learners. For the objective, they perform different work spaces and camp which create learners of different institutions associate with each other and display their ability. Everybody has a fantasy to research in best business institutions. Native Indian organizations of management are still position high as top b colleges in Indian. Not only IIM, Ahmadabad but other IIMs too determine regularly on the index charts. Learning in these institutions is fantasy of almost every student but only those who gong the CAT examinations are respected to get signed up. Apart from IIMs, there are many other enterprise institutions which increase the profession of learners. After becoming a member of a control institution, the greatest fear for learner’s stay of looking for the plan that can go their profession in the right way. So, one should keep top business courses on their main concern record.

It’s a wrath among children to research enterprise as upcoming is protected in here. Many business schools have began undergrad programs too which are demonstrating to be quite valuable for those who go for greater levels in the same river. Programs trained are properly selected after a lot of research and research. In order to shape the long run of learners, these business colleges provide internship classes to its learners which shows to be a major hand in profession building of learners. Programs trained are properly selected after a lot of research and research. In order to shape the long run of learners, these business colleges provide internship classes to its learners which shows to be a major hand in profession building of learners. The location cellular of different institution creates it sure that their learners do not have to walk to find tasks, by planning university positions. .