Presentations2Preparation:

We have condensed all of the presentation techniques down to the most effective. Here are the Top 10 effective presentation techniques.1. Use visual aidsUsing pictures in your presentations instead of words can double the chances of meeting your objectives.2. Keep it short and sweetThere is an old adage that said – “No one ever complained of a presentation being too short.” Nothing kills a

presentation more than going on too long.There are some college professors who will penalise a short presentation (most lecturers see no problem in droning on) , but for most people a shorter presentation is better. Keep your presentation to under 22 minutes if you can.

3. Use the rule of threeA simple technique is that people tend to only remember three things. Work out what the three messages that you want your audience to take away and structure your presentation around them. Use a maximum of three points on a slide.

4. RehearsePractice makes for perfect performance. Many experts say that rehearsal is the biggest single thing that you can do to improve your performance. Perform your presentation out loud at least four times. One of these should be in front of a real scary audience. Family, friends or colleagues. Even the dog is better than nothing.

5. Tell storiesAll presentations are a type of theatre. Tell stories and anecdotes to help illustrate points. It all helps to make your presentation more effective and memorable.

6. Lose the bullet points – don’t put your speaker notes up on the screenBullet points are the kiss of death for most presentations. Most people use bullet points as a form of speaker notes. To make your presentation more effective put your speaker notes in your notes and not up on the screen.

7. Video yourself Set up a video camera and video yourself presenting. You will see all sorts of mistakes that you are making, from how you are standing, if you are jangling keys, to how well your presentation is structured.

8. Know what slide is coming nextYou should always know when presenting which slide is coming up next. It sounds very powerful when you say “On the next slide [Click] you will see…”, rather than than a period of confusion when the next slide appears.

9. Have a back-up planMurphy’s law normally applies during a presentation. Technology not working, power cuts, projector blowing a bulb, spilling coffee on your front, not enough power leads, no loudspeakers, presentation displays strangely on the laptop – all of these are things that have happened in presentations that I have given.Have a back-up plan. Take with you the following items – a printed out set of slides – (you can hold these up to the audience if you need to), a CD or data stick of your presentation, a laptop with your slides on it. Just in case it goes wrong.Guess what? When you have back-ups – you seldom need to use them.10. Check out the presentation roomArrive early and check out the presentation room. If you can make sure that you see your slides loaded onto the PC and working on the screen. Work out3.Qualities that good presenters need A good presenter should be……..An excellent communicator with a clear speaking voiceExtremely well informed about current events in the area you are coveringAble to read items at sight, using AutocueAble to communicate with a live audience if need beAble to work as part of a team, constantly acting on instructions from producersAble to take constructive criticism from your agent, directors or producers without sulking, moping, throwinghissy fits or dissolving into a crying wreck!Able to deal constructively with rejection - the industry competition is fierce!Capable of writing their own scripts if necessaryCapable of staying calm under pressure and be able to react positively in a crisisBe able to use technical equipment if you work in radioBe accurate and organizedA good presenter should have……..A gregarious personality and a confident mannerFantastic improvisation skillsAn understanding of the production processAn awareness of media lawDepending on your specialists subject a good presenter should always……..Keep up to date with the latest celebrity news & gossipKeep up to date with world current affairsKeep up to date with the latest technologyKeep up to date with current fashion & fitness trends5. As speakers we all know the importance of properly preparing our material far enough in advance so we may have sufficient time to rehearse and "fine-tune" our speeches. Unfortunately, this is not enough to assure that your speech or presentation is well received. Your speech preparation must also include gathering information about your audience and their needs. A well prepared speech given to the wrong audience can have the same effect as a poorly prepared speech given to the correct audience. They both can fail terribly.4.A good presenter witnessed

5.AudienceIt is critical that your preparation efforts include some amount of audience analysis. The more you know and understand about your audience and their needs, the better you can prepare your speech to assure that you meet their needs. Speech preparation should use what I like to call the 9 P's.

Prior Proper PreparationPrevents Poor Performance of thePerson Putting on the Presentation.Nothing will relax you more than to know you have properly prepared. The stage fright or speech anxiety felt by many speakers is due to not knowing

enough about the speaking environment or the audience. The more you know about your speaking environment and your audience, the more relaxed you will be when delivering your speech. Many speakers, however, often overlook the need to include any kind of audience analysis as part of their speech preparation. Proper audience analysis will assure that you give the right speech to the right audience. Most professional speakers send their clients a multi-page questionnaire in order to gather enough information about them and the speaking event to properly customize their speeches. Using the word "A-U-D-I-E-N-C-E" as an acronym, I have defined some general audience analysis categories that these surveys should include.

A nalysis - Who are they? How many will be there?U nderstanding - What is their knowledge of the subject?D emographics - What is their age, sex, educational background?I nterest - Why are they there? Who asked them to be there?

E nvironment - Where will I stand? Can they all see & hear me?N eeds - What are their needs? What are your needs as the speaker?C ustomized - What specific needs do you need to address?E xpectations - What do they expect to learn or hear from you?Develop specific questions which fit into each of these eight categories and ask the client or audience to tell you what they want. Essentially, ask them what

they need and give it to them.Professional communication

1.The qualities that good communicators have-positive body language-eye contact-clarity in speech and proper word stress-paralanguage-a good listener(appear attentive)-to get to the point

3.Whether you can learn how to become a good communicator.Everyone's different. We all have different parents, different upbringings and different values. However, we also need to be around and work with other people to function in society. The key to bridging this gap is effective communication. Effective communication really isn't that hard to learn; if you just follow these steps, you will be surprised how quickly they become second nature. Effective communication is not being something you have to think about, but rather something naturally done, like breathing or maintaining a steady heartbeat.

Active Listening.Although speaking is the first action that comes to mind when one hears the word communication, it's actually just half of the equation. Equally, if not more important, is listening. Rather than passively listening and just letting information flow at you, listen actively. Relax your body, maintain eye contact and keep interruptions to a minimum. When you interrupt, do so at a pause and only to paraphrase to clarify what the person is saying. The speaker will feel that his or her message is being better received by an attentive listener because it is.

Body Language

Keep your body open. Don't cross your arms or legs, but keep both outstretched, indicating receptiveness. While you don't necessarily have to maintain eye contact, you should not let yourself get distracted. The other person will notice if you're not looking at them for extended periods of time. If there's a TV in the room, ignore it.

Empathy and Personal Responsibility

Show empathy and take responsibility. The person you're speaking with needs to feel that you understand what he means and not feel threatened. One of the best ways to do the former is to use the paraphrasing strategy mentioned above. Taking responsibility relies on one word: I. Never use you when discussing something negative. For example, you made a mistake sounds more confrontational than I'm having a hard time understanding, although the message is ultimately the same.

Clarity

Clarity is so important in effectively communicating that it deserves its own section. It's a tricky thing to do, too; you need to use enough words to get your point across without assuming the other person has information he doesn't, but you also need to economize so that your point isn't lost or muddled in a sea of unnecessary words.

Soothing

If someone is angry, don't try to deduce the cause of or a solution to the anger until he has calmed down. People usually just need to be heard when they're angry, so let them talk, only speaking to give compliments. A resolution can be pursued later.

4.The means of written and oral communication used within organizations

Written

Business Communication involves exchange of information within an organizational setup. It is a continuous process. The more the business expands, the greater is the pressure on the business to find more effective means of communication both with the employees and with the society at large. Business communication is both written as well as oral. But written communication is very important aspect of business communication. It is important to fix accountability and responsibility of people in organization. This requires more of written communication (much of paper work). Everything should be communicated in written by the manager to the people in the organization. Written messages can be saved for future references and cannot be denied.

Business Communication is a permanent means of communication and is much easier understanding then oral means of communication. Good written communication contributes to success of an organization. It helps in building goodwill of an organization. Written business communication includes - letters, memoranda, agenda, manuals, reports etc.

1. Business Letters: It must have a good appealing layout. The content of the letter should be clear in mind of the writer. The letter must be divided into paragraphs. It must have subject written and should be enclosed in an envelope. It should be surely used for future reference. It should be carefully written as it has an impact on goodwill of the organization. Examples of Business letters are - sales letters, information letters, problem letters etc.

2. Memoranda: Memos are generally short means of written communication within an organization. They are used to convey specific information to the people within an organization.

3. Reports: A report is prepared after lot of investigation. Whatever observations are made, an account of them is written in the report. Reports are important for analyzing the performance of the organization. It helps in taking important decisions within an organization.

4. Agenda: Agenda is an outline about all the contents of the meeting. It tells what is the purpose of the meeting and where are the participants heading. While designing an agenda one should be very specific. Designing an agenda beforehand helps the people to come prepared for the meeting

Oral communication is a process whereby information is transferred from a sender to receiver usually by a verbal means but visual aid can support the process.. The receiver could be an individual person, a group of persons or even an audience. There are a few of oral communication types: discussion, speeches, presentations, etc. However, often when you communicate face to face the body language and your voice tonality has a bigger impact than the actual words that you are saying.

-meetings-speeches -presentations

Information technology1.While the words Commerce and Business don't have much difference in English and in fact are largely interchangeable as nouns describing organized profit-seeking activity, there is a difference between eCommerce and eBusiness. The difference is quite artificial, but different terms do carry different meanings. The first wave of thinking about electronic business was a reaction to the success of Amazon and Dell in selling products over the Internet. Electronic business transactions involving money are "eCommerce" activities. However, there is much more to eBusiness than selling products: what about marketing, procurement and customer education? Even to sell on-line successfully, much more is required than merely having a website that accepts credit cards. We need to have a web site that people want to visit, accurate catalog information and good logistics.For selling online successfully one needs to know basics of website development. The term "eBusiness" was introduced as a deliberate attempt to say to people: "Your first understanding of eCommerce was too narrow. To be successful, we need to think more broadly." 

Ebusiness goes far beyond ecommerce or buying and selling over the Internet, and deep into the processes and cultures of an enterprise. It is the powerful business environment that is created when you connect critical business systems directly to customers, employees, vendors, and business partners, using Intranets, Extranets, ecommerce technologies, collaborative applications, and the Web. Dell Computer gets a lot of attention as a pioneering ebusiness today and is the best example of this form of business. It sells $ 15m worth of computers from its websites each day. The company has created a ‘fully integrated value chain ’ – a three-way information partnership with its suppliers and customers by treating them as collaborators who together find ways of improving efficiency across the entire chain of supply and demand. Dell's suppliers have real-time access to information about its orders. Through its corporate extranet, they can organize their production and delivery to ensure that their customer always has just enough of the right parts to keep the production line moving smoothly. By plugging its suppliers directly into the customer database, Dell has ensured that they will instantly know about changes in their demand. Similarly, by allowing entry to customers into its supply chain via its website, Dell enables them to track the progress of their orders from the factory to their doorstep. Successful new-businesses can emerge from nowhere. Trends suggest it takes little more than two years for a start-up to emerge out of nowhere, formulate an innovative business idea, establish a web-presence and reach a dominant position in its chosen sector. The high valuation of the stocks of such start-ups and the massive amount of venture capital flowing into their businesses is proof enough that complacency is foolhardy here. America has already reached a threshold in ebusiness, from where it is set to accelerate into hyper-growth, as per Forrester Research. Britain and Germany will go into the same level of hyper-growth two years after America, with Japan, France and Italy, a further two years behind.

In the past the rules of business were simple – Beat the competition, squeeze your suppliers and keep your customers in the dark. But with increased collaboration in the completely networked world, uncertainties arise. Nobody can predict how the customer with all the perfect market information available at his disposal will respond to the rapidly shifting business alliances and federations or how companies will manage such customers. The need of the hour is a good strategy. Early ecommerce companies have used their understanding of the technology’s potential and the absence of any competition to steal a march and enter markets that would previously have been closed to them, but in future simply having a good business idea and being technologically smart might not be enough. The global giants, after taking a while to see the opportunity seem to have worked out how to adapt their multi-layered supply chains and diverse distribution channels and are finally getting into the race. Besides this, for successful implementation of ebusiness security is the key issue. Ebusiness security is very important as the transactions processed contains critical information. Read More on Ebusiness Security

E-business is a vast term encompassing the various business processes that aim to integrate the vendors or traders with the consumers and suppliers using the Internet. The entire process of setting up a website, helping the prospective customers navigate through the website, showing them the available products, offering discounts and vouchers and doing everything possible to woo the prospective clients and converting them into customers, comes under the purview of e-business. E-commerce, on the other hand, is a subset of e-business and refers to online transactions that can be accounted for in monetary terms. For instance, accepting credit card payment for products sold to consumers or making payments for shopping online are examples of e-commerce. In other words, e-commerce refers to the last stage of e-business which involves collecting payments for the goods sold by the business firm.

2.The advantages and disadvantages of e-business for companies and customers

Advantages of E-Business

Worldwide Presence: This is the biggest advantage of conducting business online. A firm engaging in e-business can have a nationwide or a worldwide presence. IBM was one of the first companies to use the term e-business to refer to servicing customers and collaborating with business partners from all over the world. Dell Inc. too had a flourishing business selling PCs throughout the US, only via telephone and the Internet till the year 2007. Amazon.com is another success story that helps people buy internationally from third parties. Hence, worldwide presence is ensured if companies rethink their business in terms of the Internet. 

Cost Effective Marketing and Promotions: Using the web to market products guarantees worldwide reach at a nominal price. Advertising techniques like pay per click advertising ensure that the advertiser only pays for the advertisements that are actually viewed. Affiliate marketing, where customers are directed to a business portal because of the efforts of the affiliate who in turn receive a compensation for their efforts meeting with success, has emerged on account of e-business. Affiliate marketing has helped both the business and the affiliates. Firms engaging in e-business have managed to use cost effective online advertising

strategies to their advantage.

Developing a Competitive Strategy: Firms need to have a competitive strategy in order to ensure a competitive advantage. Without an effective strategy, they will find it impossible to maintain the advantage and earn profits. The strategy, that the firms can pursue, can be a be a cost strategy or a differentiation strategy. For instance, till the year 2007, Dell Inc. was selling computers only via the Internet and the phone. It adopted a differentiation strategy by selling its computers online and customizing its laptops to suit the requirements of the clients. Thus, e-business resulted in Dell Inc. managing to capture a vast segment of the market using the differentiation strategy.

Better Customer Service: E-Business has resulted in improved customer service. Many a times, on visiting a website, the customer is greeted by a pop-up chat window. Readily available customer service may help in encouraging the customer to know more about the product or service. Moreover, payments can be made online, products can be shipped to the customer without the customer having to leave the house. 

Disadvantages of E-Business

Sectoral Limitations: The main disadvantage of e-business is the lack of growth in some sectors on account of product or sector limitations. The food sector has not benefited in terms of growth of sales and consequent revenue generation because of a number of practical reasons like food products being perishable items. Consumers do not look for food products on the Internet since they prefer going to the supermarket to buy the necessary items as and when the need arises.

Costly E-Business Solutions for Optimization: Substantial resources are required for redefining product lines in order to sell online. Upgrading computer systems, training personnel, and updating websites requires substantial resources. Moreover, Electronic Data Management (EDM) and Enterprise Resource Planning (ERP) necessary for ensuring optimal internal business processes may be looked upon, by some firms, as one of the disadvantages of e-business.

It's evident that the advantages clearly outweigh the disadvantages of e-business. Every business has to eventually change its modus operandi and adopt e-business practices in order to ensure survival and success.

3. An intranet is a private computer network that uses Internet Protocol technologies to securely share any part of an organization's information or operational systems within that organization. The term is used in contrast to internet, a network between organizations, and instead refers to a network within an organization. Sometimes the term refers only to the organization's internal  website, but may be a more extensive part of the organization's information technology infrastructure. It may host multiple private websites and constitute an important component and focal point of internal communication and collaboration.

Ups!

1)Communication and collaboration

send and receive e-mail, faxes, voice mail, and pagingdiscussion rooms and chat roomsaudio and video conferencingvirtual team meetings and project collaborationonline company discussions as events (e.g., IBM Jams)inhouse blogs

2) Web publishing develop and publish hyperlinked multi-media documents such as:policy manualscompany newslettersproduct catalogstechnical drawingstraining materialtelephone directories

3) Business operations and managementorder processinginventory controlproduction setup and controlmanagement information systemsdatabase acces4)Intranet portal managementcentrally administer all network functions including servers, clients, security, directories, and trafficgive users access to a variety of internal and external business tools/applicationsintegrate different technologiesconduct regular user research to identify and confirm strategy (random sample surveys, usability testing, focus groups, in-depth interviews with

wireframes, etc.)Potential advantages of using intranets

reduces printing, distribution, and paper costs - particularly on policy manuals, company newsletters, product catalogs, technical

drawings, training material, and telephone directories

easy to use - no specialized training required

inexpensive to use (once it is set-up)

moderate initial set-up costs (hardware and software)

standardized network protocol (TCP/IP), document protocol (HTML), and file transfer protocol (ftp) already well established and

suitable for all platforms

can be used throughout the enterprise

reduces employee training costs

reduces sales and marketing costs

reduces office administration and accounting costs

ease of access results in a more integrated company with employees communicating and collaborating more freely and more

productively[edit]Potential disadvantages of intranets

it is an evolving technology that requires upgrades and could have software incompatibility problems

security features can be inadequate

inadequate system performance management and poor user support

may not scale up adequately

maintaining content can be time consuming

some employees may not have PCs at their desks

The aims of the organisation in developing an intranet may not align with user needs (see: further reading)

Company structures

1.Type of organizationsBusinesses are usually structured on one of three basic business structures: Sole Proprietorship, Partnership or a Corporation.. Hierarchical Organisation

The hierarchical organisation is the most common of all organisational structures. Employees are ranked at various levels within the organisation, each level is one above the other. At each level, one person has a number of workers directly under them, within their span of control. A traditional hierarchy, senior managers make up the board of directors and are responsible for establishing strategy and overall business direction, whilst middle managers have responsibility for a specific function such as finance or marketing. The structure can be visualised below in the org chart

Diagram: Hierarchical Org ChartThe structure clearly defines each employee’s role within the organisation and defines the nature of their relationship with other employees.

Hierarchical organisations are often tall with narrow spans of control, which gets wider as we move down the structure. They are often centralised with the most important decisions being taken by senior management.

In the twentieth century as organisations grow bigger, hierarchical organisations were popular because they could ensure command and control of the organisation. However with the advent of globalisation and widespread use of technology, in the 1990’s tall hierarchical organisations began to downsize and reduce their workforce. Technology was able to carry out many of the functions previously carried out by humans.

2.Advantages and disadvantages

Advantages Disadvantages

Authority and responsibility and clearly defined

Clearly defined promotion path

There are specialists managers and the hierarchical environment encourages the effective use of specialist managers.

Employees very loyal to their department within the organisation

The organisation can be bureaucratic and respond slowly to changing customer needs and the market within which the organisation operates.

Communication across various sections can be poor especially horizontal communication

Departments can make decisions which benefit them rather than the business as a whole especially if there is Inter-departmental rivalry

3.Flat Organisation Structures

A flat organisation structure has relatively few layers or just one layer of management. This means that the “Chain of Command” from top to bottom is short and the “span of control is wide (the number of employees”. Due to the small number of management layers, flat organisations are often small organisations.

Diagram: Flat Structure

Advantages Disadvantages

More/Greater communication between management and workers.

Better team spirit.

Less bureaucracy and easier decision making.

Fewer levels of management which includes benefits such as lower costs as managers are generally paid more than worker

Workers may have more than one manager/boss

May limit/hinder the growth of the organisation

Structure limited to small organisations such as partnerships, co-operatives and some private limited companies.

Function of each department/person could be blurred and merge into the job roles of others.

4.The way in which staff motivation may differ in large multinationals and small companies

Encyclopedia of Small Business | Employee Motivation

Employee motivation is the level of energy, commitment, and creativity that a company's workers apply to their jobs. In the increasingly competitive business environment of recent years, finding ways to motivate employees has become a pressing concern for many managers. In fact, a number of different theories and methods of employee motivation have emerged, ranging from monetary incentives to increased involvement and empowerment. Employee motivation can sometimes be particularly problematic for small businesses, where the owner often has spent so many years building a company that he/she finds it difficult to delegate meaningful responsibilities to others. But entrepreneurs should be mindful of such pitfalls, for the effects of low employee motivation on small businesses can be devastating. Some of the problems associated with unmotivated workers include complacency, declining morale, and widespread discouragement. If allowed to continue, these problems can reduce productivity, earnings, and competitiveness in a small business.

On the other hand, small businesses can also provide an ideal atmosphere for fostering employee motivation, because employees are able to see the results of their contributions in a more immediate way than in large firms. Besides increasing productivity and competitiveness, a highly motivated work force can allow a small business owner to relinquish day-today, operational control and instead concentrate on long-term strategies to grow the business. "Workers really do want to be inspired about their work, and when they are, they work better, smarter, and harder," business coach Don Maruska told Entrepreneur.

Moreover, a business that institutes effective ways—whether tangible (such as a financial bonus) or intangible (say, a plum assignment for an upcoming project)—of rewarding employees for good work can be an invaluable tool in employee retention. "People enjoy working, and tend to thrive in organizations that create positive work environments," one business researcher told HR Focus. "[They thrive in] environments where they can make a difference, and where most people in the organization are competent and pulling together to move the company forward. Appropriately structured reward and recognition programs are important, but not exclusive, components in this mix."

WHAT MOTIVATES?

One approach to employee motivation has been to view "add-ins" to an individual's job as the primary factors in improving performance. Endless mixes of employee benefits—such as health care, life insurance, profit sharing, employee stock ownership plans, exercise facilities, subsidized meal plans, child care availability, company cars, and more—have been used by companies in their efforts to maintain happy employees in the belief that happy employees are motivated employees.

Many modern theorists, however, propose that the motivation an employee feels toward his or her job has less to do with material rewards than with the design of the job itself. Studies as far back as 1950 have shown that highly segmented and simplified jobs resulted in lower employee morale and output. Other consequences of low employee motivation include absenteeism and high turnover, both of which are very costly for any company. As a result, "job enlargement" initiatives began to crop up in major companies in the 1950s.

On the academic front, Turner and Lawrence suggested that there are three basic characteristics of a "motivating" job:

1. It must allow a worker to feel personally responsible for a meaningful portion of the work accomplished. An employee must feel ownership of and connection with the work he or she performs. Even in team situations, a successful effort will foster an awareness in an individual that his or her contributions were important in accomplishing the group's tasks.

2. It must provide outcomes which have intrinsic meaning to the individual. Effective work that does not lead a worker to feel that his or her efforts matter will not be maintained. The outcome of an employee's work must have value to himself or herself and to others in the organization.

3. It must provide the employee with feedback about his or her accomplishments. A constructive, believable critique of the work performed is crucial to a worker's motivation to improve.

While terminology changes, the tenets of employee motivation remain relatively unchanged from findings over half a century ago. Today's buzzwords include "empowerment," "quality circles," and "teamwork." All of these terms demonstrate the three characteristics of motivating jobs set forth in the theory of Turner and Lawrence. Empowerment gives autonomy and allows an employee to have ownership of ideas and accomplishments, whether acting alone or in teams. Quality circles and the increasing occurrence of teams in today's work environments give employees opportunities to reinforce the importance of the work accomplished by members as well as receive feedback on the efficacy of that work.

In small businesses, which may lack the resources to enact formal employee motivation programs, managers can nonetheless accomplish the same basic principles. In order to help employees feel like their jobs are meaningful and that their contributions are valuable to the company, the small business owner needs to communicate the company's purpose to employees. This communication should take the form of words as well as actions. In addition, the small business owner should set high standards for employees, but also remain supportive of their efforts when goals cannot be reached. It may also be helpful to allow employees as much autonomy and flexibility as possible in how their jobs are performed. Creativity will be encouraged if honest mistakes are corrected but not punished. Finally, the small business owner should take steps to incorporate the vision of employees for the company with his or her own vision. This will motivate employees to contribute to the small business's goals, as well as help prevent stagnation in its direction and purpose.

MOTIVATION METHODS

There are as many different methods of motivating employees today as there are companies operating in the global business environment. Still, some strategies are prevalent across all organizations striving to improve employee motivation. The best employee motivation efforts will focus on what the employees deem to be important. It may be that employees within the same department of the same organization will have different motivators. Many organizations today find that flexibility in job design and reward systems has resulted in employees' increased longevity with the company, improved productivity, and better morale.

EMPOWERMENT Giving employees more responsibility and decision-making authority increases their realm of control over the tasks for which they are held responsible and better equips them to carry out those tasks. As a result, feelings of frustration arising from being held accountable for something one does not have the resources to carry out are diminished. Energy is diverted from self-preservation to improved task accomplishment.

CREATIVITY AND INNOVATION At many companies, employees with creative ideas do not express them to management for fear that their input will be ignored or ridiculed. Company approval and toeing the company line have become so ingrained in some working environments that both the employee and the organization suffer. When the power to create in the organization is pushed down from the top to line personnel, employees who know a job, product, or service best are given the opportunity to use their ideas to improve it. The power to create motivates employees and benefits the organization in having a more flexible work force, using more wisely the experience of its employees, and increasing the exchange of ideas and information among employees and departments. These improvements also create an openness to change that can give a company the ability to respond quickly to market changes and sustain a first mover advantage in the marketplace.

LEARNING If employees are given the tools and the opportunities to accomplish more, most will take on the challenge. Companies can motivate employees to achieve more by committing to perpetual enhancement of employee skills. Accreditation and licensing programs for employees are an increasingly popular and effective way to bring about growth in employee knowledge and motivation. Often, these programs improve employees' attitudes toward the client and the company, while bolstering self-confidence. Supporting this assertion, an analysis of factors which influence motivation-to-learn found that it is directly related to the extent to which training participants believe that such participation will affect their job or career utility. In other words, if the body of knowledge gained can be applied to the work to be accomplished, then the acquisition of that knowledge will be a worthwhile event for the employee and employer.

QUALITY OF LIFE The number of hours worked each week by American workers is on the rise, and many families have two adults working those increased hours. Under these circumstances, many workers are left wondering how to meet the demands of their lives beyond the workplace. Often, this concern occurs while at work and may reduce an employee's productivity and morale. Companies that have instituted flexible employee arrangements have gained motivated employees whose productivity has increased. Programs incorporating flextime, condensed workweeks, or job sharing, for example, have been successful in focusing overwhelmed employees toward the work to be done and away from the demands of their private lives.

MONETARY INCENTIVE For all the championing of alternative motivators, money still occupies a major place in the mix of motivators. The sharing of a company's profits gives incentive to employees to produce a quality product, perform a quality service, or improve the quality of a process within the company. What benefits the company directly benefits the employee. Monetary and other rewards are being given to employees for generating cost-savings or process-improving ideas, to boost productivity and reduce absenteeism. Money is effective when it is directly tied to an employee's ideas or accomplishments. Nevertheless, if not coupled with other, nonmonetary motivators, its motivating effects are short-lived. Further, monetary incentives can prove counterproductive if not made available to all members of the organization.

OTHER INCENTIVES Study after study has found that the most effective motivators of workers are nonmonetary. Monetary systems are insufficient motivators, in part because expectations often exceed results and because disparity between salaried individuals may divide rather than unite employees. Proven nonmonetary positive motivators foster team spirit and include recognition, responsibility, and advancement. Managers who recognize the "small wins" of employees, promote participatory environments, and treat employees with fairness and respect will find their employees to be more highly motivated. One company's managers brainstormed to come up with 30 powerful rewards that cost little or nothing to implement. The most effective rewards, such as letters of commendation and time off from work, enhanced personal ful-fillment and self-respect. Over the longer term, sincere praise and personal gestures are far more effective and more economical than awards of money alone. In the end, a program that combines monetary reward systems and satisfies intrinsic, self-actualizing needs may be the most potent employee motivator.

5.It sounds ideal. A great many people have dreamt about being able to work from home at some point in their lives.

But like everything else in life, working from home has both its pros and cons. It isn't for everyone; is it right for you?

Advantages of working from home: 

Freedom and flexibility. You can structure your day to suit your personal needs, whether you want to spend time with the kids, you have a volunteer job, or you want to attend a class. You have control over when you do your work.

Tax benefits for home based businesses. Home based businesses are typically blessed with a number of business deductions that would otherwise not be available to you. Check with your local tax office to find out what business expenses you may claim.

Save money. Assuming you're not meeting with customers all day long, you won't have to buy expensive "work clothes" or use the dry cleaners as often. You also save money on telecommuting costs! No more driving to the office everyday.

Lower start-up costs for home based businesses. One huge savings is the fact that you won't have to rent or lease office space! That alone will save you a great deal of money.

Disadvantages of home based work: 

Possible conflict between your business and personal lives. Because you're working at home where you have always spent time with your family, it may be difficult for both you and your family to adjust to the fact that you must work while you're at home.

Lack of social contact. Some people dearly love the social interaction of the workplace. When you work from home, you are far more likely to feel cut off from the rest of the world.

Need for self-discipline. It can be difficult to motivate yourself when you're working from home. There are household chores to be done, plenty of distractions (such as the television), and you can be alone for hours. Do you have the self-discipline required to get your work done despite all this?

Pressure. While working from home undoubtedly provides more flexibility, it can also provide a fair bit more stress. Because you work in the same place you live, you may feel obligated to get "a few chores" done while you're working. You can very easily become swamped with responsibilities - some people simply end up trying to do too much.

5.Business Ethics?

Discussion on ethics in business is necessary because, business can go unethical, and there are plenty of evidences as in today on unethical corporate practices. Even Adam Smith, in whose name neo-liberal laissez-faire is advocated opined that ‘People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices’ [16] Business does not operate in vacuum. Firms and corporations operate in the social and natural environment. By virtue of existing in the social and natural environment, business is duty bound to be accountable to the natural and social environment in which it survives [17]. Irrespective of the demands and pressures upon it, business, by virtue of its existence is bound to be ethical, for at least two reasons: one, because whatever the business does affects its stakeholders [18]. [19] [20] and two, because every juncture of action has trajectories of ethical as well as unethical paths wherein the existence of the business is justified by ethical alternatives it responsibly chooses[21] One of the conditions that brought business ethics to the forefront is the demise of small scale, high trust and face-to-face enterprises and emergence of huge multinational corporate structures capable of drastically affecting everyday lives of the masses. [22]

What is Business Ethics?

Ethics, the search for ‘a good way of being’ for a wise course of action,[23] as it could be practiced by business firms is called business ethics [24] Ethics in business deals with the ethical path business firms ought to adopt. Afflicting the least suffering to humans and the nature in its entirety, achieving the greatest net benefit to the society and economy[25] [26] enriching the capability of the system in which it is functioning[27] [28]., being fair in all its dealings with its proximate and remote stakeholders [29], [30] [31] being prepared to correct its mal-habits [32]and nurturing an enduring virtuous corporate character [33] [34] in totality, can be called business ethics. It is often suggested from extended utilitarian/ consequential position that businesses can often attain short-lived gains by acting in an unethical fashion; however, such behaviors tend to undermine the economy over time. For those who uphold the principles of virtue ethics, all that matters is corporations maintaining character of honesty, fairness and humaneness than being ethical for the sake of better consequences. On the other hand experts of deontological ethics and virtue ethics postulate that what matters is the motive to be ethical than the consequential fallout [35] Jacques Cory, a noted business ethicist observes, “companies should behave ethically and be profitable in parallel, and even if ethics diminishes the profitability of the company, they should still behave ethically”[36]. Seen from the Kantian Ethical perspective Business has to consider its remote and proximate stakeholders as ends in themselves and not merely as means toward some other end. [37]. A business becomes ethical by assuming the responsibility of ‘’’translating’’’ the abstract ethical injunctions into series of obligations.[38] However, while translating, we do not just abide by the ‘’’a priori’’’ ethical injunctions or codes rather respond to the situation in its contextual singularity pragmatically choosing the best alternative course of response from the multiple possibilities. In other words, ethics is a matter of 'responsibility in the experience of absolute decisions made outside of knowledge or given norms'[39] [40].

2.exemples: Ethics in marketing

Pricing: price fixing, price discrimination, price skimming.

Anti-competitive practices: these include but go beyond pricing tactics to cover issues such as manipulation of loyalty and supply chains. See: anti-competitive practices, antitrust law.

Specific marketing strategies: greenwash, bait and switch, shill, viral marketing, spam (electronic), pyramid scheme, planned obsolescence.

Content of advertisements: attack ads, subliminal messages, sex in advertising, products regarded as immoral or harmful

Children and marketing: marketing in schools.

Black markets , grey markets.

Ethics of intellectual property, knowledge and skills

Knowledge and skills are valuable but not easily "ownable" as objects. Nor is it obvious who has the greater rights to an idea: the company who trained the employee, or the employee themselves? The country in which the plant grew, or the company which discovered and developed the plant's medicinal potential? As a result, attempts to assert ownership and ethical disputes over ownership arise.

Patent infringement , copyright infringement, trademark infringement.

Misuse of the intellectual property systems to stifle competition: patent misuse, copyright misuse, patent troll, submarine patent.

Even the notion of intellectual property itself has been criticised on ethical grounds: see intellectual property.

Employee raiding : the practice of attracting key employees away from a competitor to take unfair advantage of the knowledge or skills they may possess.

The practice of employing all the most talented people in a specific field, regardless of need, in order to prevent any competitors employing them.

Bioprospecting  and biopiracy.

Business intelligence  and industrial espionage.

3.An ethics officer is someone who aligns the practices of a workplace with the stated ethics and beliefs of that workplace, holding people accountable to ethical standards. Ethics officers are an increasingly common sight in the business community, and they can also be found at colleges and universities, where ethical conduct is often an issue of grave concern for students and staff. Special qualifications are not required to act as an ethics officer, although people in this position generally tend to have excellent ethics.

Ethics officers perform a number of important tasks. They can help their employers develop codes of ethics so that a clear standard is created, and they also establish clear consequences for violations of these codes, so that everyone at a company understands that he or she will be held ethically accountable. Ethics officers may also enforce ethical codes, and make adjustments to the code as needed.

Someone who works as an ethics officer usually looks at the letter of the law when formulating policy, in addition to the industry standard. The law may provide a surprising amount of ethical wiggleroom, which means that it is up to individuals to do the right things, and sometimes industries as a whole may collectively come to ethical agreements. For example, it is not illegal to cheat on exams, but colleges and universities usually have policies in place which are designed to prevent cheating because they feel that it is unethical.

One of the roles of an ethics officer is to examine the stated values, mission, and goals of an organization and to determine whether or not the organization's behavior actually supports these statements. A company which claims to behave ethically may use an ethics officer as a symbol of accountability, showing that it does not just pay lip service to the ideal of ethics, but actually has an ethics code in force and appoints people to enforce it.

Ethics officers can also be part of the ethical review boards which review proposed experiments in the research environment or consider other proposed activities which may have ethical implications. In their role as compliance officers, ethics officers keep an eye on all activities at an organization, from whether or not the janitor checks the trash for recyclables to how the company embarks on contract negotiations. The ethics officer may also be empowered to undertake investigations into specific employees or activities to confirm that they conform with the company's ethical guidelines.

6.Recruitment1.Methods-recruitment by job centers, -headhunting, -recruitment by advertisements, -internet recruitment, -niche recruiters, -in-house recruitment2.steps of the recruitment process

Job analysis

The proper start to a recruitment effort is to perform a job analysis, to document the actual or intended requirement of the job to be performed. This information is captured in a job description and provides the recruitment effort with the boundaries and objectives of the search.[2] Oftentimes a company will have job descriptions that represent a historical collection of tasks performed in the past. These job descriptions need to be reviewed or updated prior to a recruitment effort to reflect present day requirements. Starting a recruitment with an accurate job analysis and job description ensures the recruitment effort starts off on a proper track for success.

Sourcing

Sourcing involves 1) advertising, a common part of the recruiting process, often encompassing multiple media, such as the Internet, general newspapers, job ad newspapers, professional publications, window advertisements, job centers, and campus graduate recruitment programs; and 2) recruiting research, which is the proactive identification of relevant talent who may not respond to job postings and other recruitment advertising methods done in #1. This initial research for so-called passive prospects, also called name-generation, results in a list of prospects who can then be contacted to solicit interest, obtain a resume/CV, and be screened (see below).

Screening and selection

Suitability for a job is typically assessed by looking for skills, e.g. communication, typing, and computer skills. Qualifications may be shown through résumés, job applications,interviews, educational or professional experience, the testimony of references, or in-house testing, such as for software knowledge, typing skills, numeracy, and literacy, throughpsychological tests or employment testing. Other resume screening criteria may include length of service, job titles and length of time at a job. In some countries, employers are legally mandated to provide equal opportunity in hiring. Business

management software is used by many recruitment agencies to automate the testing process. Many recruiters and agencies are using an applicant tracking system to perform many of the filtering tasks, along with software tools for psychometric testing.

Onboarding"Onboarding" is a term which describes the process of helping new employees become productive members of an organization. A well-planned introduction helps new employees become fully operational quickly and is often integrated with a new company and environment. Onboarding is included in the recruitment process for retention purposes. Many companies have onboarding campaigns in hopes to retain top talent that is new to the company; campaigns may last anywhere from 1 week to 6 months.

3.Headhunting is an ethical recruitment methodHeadhunting refers to the approach of finding and attracting the best experienced person with the required skill set. Headhunting is also a recruitment process involves convincing the person to join your organization.4. Employee MotivationEmployee motivation is the level of energy, commitment, and creativity that a company's workers apply to their jobs. In the increasingly competitive business environment of recent years, finding ways to motivate employees has become a pressing concern for many managers. In fact, a number of different theories and methods of employee motivation have emerged, ranging from monetary incentives to increased involvement and empowerment. Employee motivation can sometimes be particularly problematic for small businesses, where the owner often has spent so many years building a company that he/she finds it difficult to delegate meaningful responsibilities to others. But entrepreneurs should be mindful of such pitfalls, for the effects of low employee motivation on small businesses can be devastating. Some of the problems associated with unmotivated workers include complacency, declining morale, and widespread discouragement. If allowed to continue, these problems can reduce productivity, earnings, and competitiveness in a small business.On the other hand, small businesses can also provide an ideal atmosphere for fostering employee motivation, because employees are able to see the results of their contributions in a more immediate way than in large firms. Besides increasing productivity and competitiveness, a highly motivated work force can allow a small business owner to relinquish day-today, operational control and instead concentrate on long-term strategies to grow the business. "Workers really do want to be inspired about their work, and when they are, they work better, smarter, and harder," business coach Don Maruska told Entrepreneur.Moreover, a business that institutes effective ways—whether tangible (such as a financial bonus) or intangible (say, a plum assignment for an upcoming project)—of rewarding employees for good work can be an invaluable tool in employee retention. "People enjoy working, and tend to thrive in organizations that create positive work environments," one business researcher told HR Focus. "[They thrive in] environments where they can make a difference, and where most people in the organization are competent and pulling together to move the company forward. Appropriately structured reward and recognition programs are important, but not exclusive, components in this mix."WHAT MOTIVATES?One approach to employee motivation has been to view "add-ins" to an individual's job as the primary factors in improving performance. Endless mixes of employee benefits—such as health care, life insurance, profit sharing, employee stock ownership plans, exercise facilities, subsidized meal plans, child care availability, company cars, and more—have been used by companies in their efforts to maintain happy employees in the belief that happy employees are motivated employees.Many modern theorists, however, propose that the motivation an employee feels toward his or her job has less to do with material rewards than with the design of the job itself. Studies as far back as 1950 have shown that highly segmented and simplified jobs resulted in lower employee morale and output. Other consequences of low employee motivation include absenteeism and high turnover, both of which are very costly for any company. As a result, "job enlargement" initiatives began to crop up in major companies in the 1950s.On the academic front, Turner and Lawrence suggested that there are three basic characteristics of a "motivating" job:

1. It must allow a worker to feel personally responsible for a meaningful portion of the work accomplished. An employee must feel ownership of and connection with the work he or she performs. Even in team situations, a successful effort will foster an awareness in an individual that his or her contributions were important in accomplishing the group's tasks.

2. It must provide outcomes which have intrinsic meaning to the individual. Effective work that does not lead a worker to feel that his or her efforts matter will not be maintained. The outcome of an employee's work must have value to himself or herself and to others in the organization.

3. It must provide the employee with feedback about his or her accomplishments. A constructive, believable critique of the work performed is crucial to a worker's motivation to improve.While terminology changes, the tenets of employee motivation remain relatively unchanged from findings over half a century ago. Today's buzzwords include "empowerment," "quality circles," and "teamwork." All of these terms demonstrate the three characteristics of motivating jobs set forth in the theory of Turner and Lawrence. Empowerment gives autonomy and allows an employee to have ownership of ideas and accomplishments, whether acting alone or in teams. Quality circles and the increasing occurrence of teams in today's work environments give employees opportunities to reinforce the importance of the work accomplished by members as well as receive feedback on the efficacy of that work.In small businesses, which may lack the resources to enact formal employee motivation programs, managers can nonetheless accomplish the same basic principles. In order to help employees feel like their jobs are meaningful and that their contributions are valuable to the company, the small business owner needs to communicate the company's purpose to employees. This communication should take the form of words as well as actions. In addition, the small business owner should set high standards for employees, but also remain supportive of their efforts when goals cannot be reached. It may also be helpful to allow employees as much autonomy and flexibility as possible in how their jobs are performed. Creativity will be encouraged if honest mistakes are corrected but not punished. Finally, the small business owner should take steps to incorporate the vision of employees for the company with his or her own vision. This will motivate employees to contribute to the small business's goals, as well as help prevent stagnation in its direction and purpose.MOTIVATION METHODSThere are as many different methods of motivating employees today as there are companies operating in the global business environment. Still, some strategies are prevalent across all organizations striving to improve employee motivation. The best employee motivation efforts will focus on what the employees deem to be important. It may be that employees within the same department of the same organization will have different motivators. Many organizations today find that flexibility in job design and reward systems has resulted in employees' increased longevity with the company, improved productivity, and better morale.EMPOWERMENT Giving employees more responsibility and decision-making authority increases their realm of control over the tasks for which they are held responsible and better equips them to carry out those tasks. As a result, feelings of frustration arising from being held accountable for something one does not have the resources to carry out are diminished. Energy is diverted from self-preservation to improved task accomplishment.CREATIVITY AND INNOVATION At many companies, employees with creative ideas do not express them to management for fear that their input will be ignored or ridiculed. Company approval and toeing the company line have become so ingrained in some working environments that both the employee and the organization suffer. When the power to create in the organization is pushed down from the top to line personnel, employees who know a job, product, or service best are given the opportunity to use their ideas to improve it. The power to create motivates employees and benefits the organization in having a more flexible work force, using more wisely the experience of its employees, and increasing the exchange of ideas and information among employees and

departments. These improvements also create an openness to change that can give a company the ability to respond quickly to market changes and sustain a first mover advantage in the marketplace.LEARNING If employees are given the tools and the opportunities to accomplish more, most will take on the challenge. Companies can motivate employees to achieve more by committing to perpetual enhancement of employee skills. Accreditation and licensing programs for employees are an increasingly popular and effective way to bring about growth in employee knowledge and motivation. Often, these programs improve employees' attitudes toward the client and the company, while bolstering self-confidence. Supporting this assertion, an analysis of factors which influence motivation-to-learn found that it is directly related to the extent to which training participants believe that such participation will affect their job or career utility. In other words, if the body of knowledge gained can be applied to the work to be accomplished, then the acquisition of that knowledge will be a worthwhile event for the employee and employer.QUALITY OF LIFE The number of hours worked each week by American workers is on the rise, and many families have two adults working those increased hours. Under these circumstances, many workers are left wondering how to meet the demands of their lives beyond the workplace. Often, this concern occurs while at work and may reduce an employee's productivity and morale. Companies that have instituted flexible employee arrangements have gained motivated employees whose productivity has increased. Programs incorporating flextime, condensed workweeks, or job sharing, for example, have been successful in focusing overwhelmed employees toward the work to be done and away from the demands of their private lives.MONETARY INCENTIVE For all the championing of alternative motivators, money still occupies a major place in the mix of motivators. The sharing of a company's profits gives incentive to employees to produce a quality product, perform a quality service, or improve the quality of a process within the company. What benefits the company directly benefits the employee. Monetary and other rewards are being given to employees for generating cost-savings or process-improving ideas, to boost productivity and reduce absenteeism. Money is effective when it is directly tied to an employee's ideas or accomplishments. Nevertheless, if not coupled with other, nonmonetary motivators, its motivating effects are short-lived. Further, monetary incentives can prove counterproductive if not made available to all members of the organization.OTHER INCENTIVES Study after study has found that the most effective motivators of workers are nonmonetary. Monetary systems are insufficient motivators, in part because expectations often exceed results and because disparity between salaried individuals may divide rather than unite employees. Proven nonmonetary positive motivators foster team spirit and include recognition, responsibility, and advancement. Managers who recognize the "small wins" of employees, promote participatory environments, and treat employees with fairness and respect will find their employees to be more highly motivated. One company's managers brainstormed to come up with 30 powerful rewards that cost little or nothing to implement. The most effective rewards, such as letters of commendation and time off from work, enhanced personal ful-fillment and self-respect. Over the longer term, sincere praise and personal gestures are far more effective and more economical than awards of money alone. In the end, a program that combines monetary reward systems and satisfies intrinsic, self-actualizing needs may be the most potent employee motivator.

7.Management and cultural diversity

3.Qualities of a good manager1.Passion for the role and commitment to the culture, 2.Strategic vision, 3.Business partnering, 4.A keen eye for cost, 5.Continous improvement, 6.Understand risk, 7.Great communicator & marketer, 8.selfconfidence, 9.Motivation of your employees, 10.Flexibility & patience

4.Daily tasksA manager performs five basic functions - Planning, organizing, staffing, directing and controlling

Managers are building blocks of the organization. A manager performs five basic functions - Planning, organizing, staffing, directing and controlling. At all the levels of management we have managers working there and performing one or more of these managerial functions. A manager's main task is to achieve effective utilization of resources in an organization. He achieves so through coordinated human efforts. A manager has a very important role to play in achieving organizational objectives. He is responsible for aligning the individual's objectives with the organizational objectives. This is very essential for achieving long-term organizational success.

A Manager is the one who communicates organizational vision to the employees of the organization. He should ensure that there is effective communication flow in an organization and that there should no misinterpretations taking place.

A manager has crucial role to play in decision making process in an organization. He has to decide how to bring and communicate organizational changes. One of the major tasks of a manager is setting up of organizational goals. He has to be in close contact with the employees of the organization. He should understand them and motivate them. He should encourage them so that they can perform effectively. He should praise them when they show brilliant performance and on bad performance, he should give them constructive feedback rather than negative feedback. He should provide them online support and coaching.

A manager should resolve conflicts among the employees and try to reach at an acceptable solution. This would improve employees work quality as well as performance. Thus, a manager's role is very important so as to improve employees productivity as well as organization's productivity. He should understand that organizational success depends on employees. Thus the more satisfied and happy the employees are the more success the organization will show. A manager must be committed to his work so as to set an example for his subordinates.

5.The importance of delegating tasksThe Benefits of Delegation         There are countless benefits to delegation.  The most obvious might be lightening your workload.  Delegating allows you to cross items off your "to do" list and put them on someone else's.  As important as that is, it might be the least powerful of the benefits of delegation.  Delegation should provide challenge for your subordinates and encourage them to develop their capabilities.  As they take on tasks that exceed their basic job description, they will naturally develop new knowledge and skills to cope with those tasks.  Such development prepares them for future assignments and promotions.  Delegation can also be a clear sign that you respect your subordinates' abilities and that you trust their discretion.  Employees who feel that they are trusted and respected tend to have a higher level of commitment to their work, their organization, and especially their manager.  In addition, effective delegation requires subordinates' input during the delegation process.  When subordinates participate in making decisions that pertain to their work, they tend to have a greater sense of ownership of the work and increased commitment to its successful completion.  Finally, and perhaps most importantly, delegation often improves responsiveness to customers.  The people who have the most contact with customers--whether they are external customers or internal customers--are usually the ones with the most complete information about how best to serve them.  Hence, delegation can help empower subordinates to take action to improve customer satisfaction.8.Business travel

Business travel is both underrated and overrated. Sometimes it can be glamorous, other times grueling. In fact, if a business trip is not both glamorous and grueling, then you are doing something wrong.

Many people choose a career based on the travel opportunities that come with it. Those who do are usually in fields of work that send them to hotbeds like London, Tokyo, Montreal, or New York. Others of us aren't so lucky; instead, we end up attending conferences in Indianapolis, sitting in hotel bars in Winnipeg or having breakfast in Baghdad -- hey, not that there's anything wrong with these places, I'm just not sure that they would top most people's "dream destinations" lists.

the greater good-Here in lies the major advantage of business travel: It allows young professionals to visit the world on someone else's time and dime. The disadvantage is that they do not necessarily control when and where they travel or, for that matter, who they travel with.

The bottom line, however, is that business travel needs to serve a greater purpose than one's own pleasure. If the only thing that you bring back from a business sojourn is a hangover and more air miles, then your last trip might be just that: your last trip.

It is acceptable that you sneak in some personal time when traveling for work, but when the time comes to visit a client or attend a conference abroad, make sure you understand the explicit and implicit objectives. No one realistically expects a Marco Polo-esque expedition, but the truth of the matter is that, upon your return, there need to be some tangible results from the adventure.

plan ahead-No matter how busy you might be in the days or weeks leading up to your trip, you will be well-served to spend some time researching the city you'll be visiting, even if you've been there before. If you are short on time, simply e-mail some colleagues and friends who've been there and ask for suggestions. There are also hundreds of websites out there that break down cities for all types of travelers. Make good use of your PDA and load up on maps, reviews and addresses before setting out.

It may also be prudent to check your address book to determine if there are other people you can meet with, even if the business at hand doesn't concern them. After all, sometimes it makes sense to travel thousands of miles for just one face-to-face, but it would be a wasted opportunity to not track down other contacts, clients or potential clients who may be in the same region. In-person meetings might thaw the ice just enough to get some traction on a potential deal.

Remember your company...

Page 2: Travel Integrated Business Trip

less is more-The inverse of the last tip is also important. In the past, when I started to travel for work, I had a tendency to set up way too many meetings in order to maximize my time in a city. The problem with doing this is that you tend to burn out and come back home needing time to relax and catch up. Another issue that comes with overbooking is that, over the course of any business trip, there is usually one major meeting that you need to be 100% "on" for. By setting up too many engagements, you may find yourself a bit rusty for the so-called main event, having burnt your energy on the wrong ones.

In this sense, executives are no different than athletes or entertainers; there is a time to shine and a time to take it easy. If you have one big make-or-break meeting, you need to spend some time planning, preparing and reviewing your shtick. Hitting the right notes at the wrong meeting is futile. 

When a young professional joins an organization, the first business trip is exciting, something tantamount to a rite of passage. But, like anything else, traveling for work gradually becomes draining, even something one comes to dread. Just think about it: We work long and hard to achieve a level of comfort, and frequent business travel detracts from that comfort. Hence the irony of the business life: the more successful you become, the more you have to travel, but the more you travel, the less peace of mind you have. But of course, this is something that athletes, entertainers, politicians, and others all face as well.

lonely, but not alone-When you travel for leisure, it's usually with a girlfriend, friends or family. When you travel for work, it's usually with a colleague of equal rank. You can let yourself go and have some fun, but there are limits to what you can do, especially if you travel with a boss. Alternatively, if you are traveling with a subordinate, then you have to check yourself even further. The worst thing you can do in this situation is come across as a loose cannon who is a bad influence.

Business travel puts a heightened emphasis on interactivity skills. One of the most successful executives of the Internet era (if we can call it that), Google's Omid Kordestani, has a good sense of the kind of person he likes to hire and work with. What kind of person is that? One who can pass his airport test: "If I'm stuck in an airport with one of these employees, I want to enjoy my time and have an intelligent conversation if I can't fly for a couple of hours," states Kordestani.

Kordestani's remark casts a new light on the repercussions of business travel for young professionals. The same way that previous generations saw their careers accelerate on golf courses and in social clubs, many of today's business relationships are forged outside of work hours and work headquarters.

So be sure to make the most out of business travel.Instructions

Things You'll Need:Date book or journal, Contact list or address book, Laptop, PDA, Cell phone, Flash drive, compact discs or floppy disks, Conference and meeting venues.

1. Step1-Plan ahead. Once you have determined the dates of your business trip, it is necessary to plan ahead. Often, a business trip is done in a location farther than your local hub. Reserve your travel accommodations which can include air travel, hotel, and car reservations way in advanced. If you are planning on attending big conferences that will surely be attended by a lot of people from different parts of the globe, ensure that you do this months in advanced so that you can still get a confirmation for the travel accommodations as well as the conference itself.

2. Step2-Set goals. It is important that before you leave for your business trip to set your goals. What would like to accomplish when you arrive at your destination. You would want to be as productive as possible for a very sort amount of time. Time management is the key in making sure that you meet your goals.

3. Step3-Set up appointments. Business trips cost companies money to pay for the travel accommodations as well as food. Make it worthwhile by hitting more than one bird with one stone. Try to schedule some appointments to meet up with your clients, vendors and other key business contacts. If you have staff members that report to you in the same location you are attending a conference, try to meet with them personally.

4. Step4-Set up tasks and deliverables. Before traveling set up tasks and deliverables. For example, if you are running a conference yourself, ensure that the equipment you will be using such as projection screen, projectors and microphones have been reserved together with the meeting room. Contact the local admin in the branch you are visiting or the technical support personnel to ensure that you have a spot to do your work with proper network and phone connections. If there are certain tasks to be completed before your arrival by some people who are attending your meeting, set them up weeks in advanced to allow them enough time to prepare or complete such tasks.

5. Step5-Send information ahead. If you have agenda or power-point presentations for the meetings, send them via email ahead of time. Preparing your attendees on what needs to be discussed will allow them enough time to review the materials as well as prepare questions for you to answer. Doing this gives you also an opportunity to review your own materials and make necessary corrections prior to the meeting if needed.

6. Step6-Pack essential items. Get ready for your business trip by packing your luggage with essential items. Do not forget to bring enough outfit to use, especially if you anticipate attending formal dinners, bring an outfit that fits the occasion. Bring your personal effects and toiletries that you can use while away from home.

7. Step7-Bring tools: Don't forget to bring your laptop, PDA, address books, journals, cell phones, flash drives, disks, or anything that you would anticipate needing for you to be able to work. Be prepared by bringing files saved in a flash drive, CD or floppy disks. This way even if your laptop gets damaged or lost, you still have your documents safe to use on other people's computers.

8. Step8-Update contacts. Talking about hitting two birds with one stone, business trips is also an opportunity to update your contact lists. Add new contacts of people you meet while traveling and attending conferences. The person seated next to you on the plane may have something in common with you. Build your networking list for more future opportunities for your business and for you.

Tips & Warnings

1. Constant rule changes may cause you to miss your flight: Regardless of how often you travel, keeping up with the constant rule changes imposed by airlines can be a difficult task. For instance, there was no restriction on carrying liquids such as water, lotions, or creams in your carry-on luggage. However, most airlines today will allow to you carry only a small amount of liquid on your person, which too has to be packed in just one see-through plastic bag. Thus, such rule changes can cause you to get stuck in the security line and miss your flight.

Solution: Make it a point to check the airline's website for current rules and restrictions before you leave. A few minutes of effort can be the difference between missing your flight and making it.

2. Your flight has been cancelled but you need to get to your destination yesterday! Not only has your original flight been cancelled, but you are 20th in line for a seat on an alternative flight. You simply cannot miss that crucial client meeting. What do you do?

Solution: Always have the phone number of your travel agent and the customer service number of your favourite airline on speed dial. If you face a situation as described, immediately call them for assistance and ask them about the status of your original flight as well as tell them to put you on the next flight out to your destination. One phone call before all the other travellers rush for alternative seats can ensure you get a seat before anyone else does.

3. You are not getting the service you need because you asked the ticket agent / air hostess / flight attendant, "Do you know who I am?" These are words that no airline personnel like to hear. They don't really care who you are but are only interested whether you have a valid ticket or not. But you said those words to them, and are now receiving an extremely cold shoulder.

Solution: Please leave your 'self-importance' behind and try to deal with flight personnel with kindness and respect. Asking nicely will get you what you want or where you need to go much faster than throwing your weight around.,

4. You have lost your only ID proof: Without a valid ID proof, not only will it be very difficult to board your flight, but you will not be able to rent a car once you get to your destination. So, it is vital that you always have your ID with you at all times.

Solution: Carry your ID proof around your neck as you do in the office. If that is not for you, then you should ensure that you have two valid ID proofs with you and keep them in separate cases and in separate bags. Thus, if you happen to lose one, you will at least have the other one with you.

5. Discussing business on the flight: Your business partner and you have been discussing a classified business tactic on the flight and you realize that your number 1 competitor has been sitting behind you all this while. He probably heard everything you talked about! What do you do?

Solution: Yes, it is only natural to discuss business when you're travelling for work with your colleagues. However, remember that walls have ears too and you never know who might be listening to you. Thus, wait for complete privacy before you start discussing vital trade secrets. If you must talk on the flight, ensure that you are discrete and soft so that you are not overheard.

9.Entrepreneurship

A business   plan  is a written guide outlining each part of your business. The plan can help you get loans, promote business growth and be a guide for managing each aspect of your business.

Business1. A business plan needs to include a detailed description of your business. This will include sections for marketing, competition,

operating procedures, personnel and business insurance.Finances2. You should have financial projections, profit-and-loss statements, loan information and applications, balance   sheets , and anything

in relation to the business' finances.Documentation3. You also need to provide copies of licenses, tax   returns , leases, contracts and all other legal documents.Size4. The size of your business plan will depend on the kind of business you own. Standard business plans average 20 to 40 pages.Considerations5. According to the Small Business Administration, there is no single formula for developing a business plan, although there are some

elements common to all business plans.

Entrepreneurs enjoy the freedom of making their own business decisions and becoming their own bosses. In addition, they also gain the stability and control that could never be achieved as a regular employee. If you have been dreaming of becoming one of these entrepreneurs, you should find out the disadvantages and advantages of taking on this role.

Advantages of Entrepreneurs

Excitement: compared to being regular employees, entrepreneurs enjoy much excitement beginning from the planning stage of the business up to development and realization. Thrill-seekers obviously love being entrepreneurs as they are exposed to too much risk. You should never forget, that all business risks that you agree on taking, should be calculated.

Salary Potential: most people who are employed generally feel that they are not being compensated for the work they do. In addition, they must follow the salary structure set by their employers. Entrepreneurs, on the other hand, earn money that is commensurate to their efforts.

Flexibility: having control of work schedules and commitments makes the life of these entrepreneurs enviable. They are able to take vacations anytime and spend much quality time with their families.

Independence: for people who love the idea of not being answerable to anyone else but themselves, becoming an entrepreneur would surely be wonderful. They would be able to make decisions without the pressure of getting fired.

Disadvantages of Entrepreneurs

No Regular Salary: when you start a business, you should be prepared to leave behind the security of having a paycheck each month. Even successful entrepreneurs experience lean months when all financial resources are being taken up by the new business.

Work Schedule: although they have the luxury of a flexible schedule, entrepreneurs also make sacrifices especially during situations that require them to work longer hours. Unlike regular employees who are not worried too much about the status of the business, entrepreneurs must make sure that everything is going well.

Administration: because they own the business, all major decisions are made by entrepreneurs. This is quite a burden and handling such responsibility is quite difficult. Every decision directly affects the future of their businesses and avoiding costly mistakes is imperative.

After comparing the advantages and disadvantages, you will have to decide if you can realistically handle all the responsibilities of owning your own business aside from being prepared for all the risks you have to take. But if you look closely, being an entrepreneur is still desirable especially with the sense of fulfillment and accomplishment they gain from beating all odds and overcoming all challenges. As long as you have passion and commitment, you will be able to handle these disadvantages beautifully.

11.MARKETING

What Marketers DoIn order to reach the goal of creating a relationship that holds value for customers and for the organization, marketers use a diverse toolkit that

includes (but is not limited to) making decisions regarding:1. Target Markets – markets consist of customers identified as possessing needs the marketer believes can be addressed by its

marketing efforts2. Products – consists of tangible (e.g., goods) or intangible (e.g., services) solution to the market’s needs3. Promotion – a means for communicating information about the marketing organization’s products to the market4. Distribution – the methods used by the marketer that enable the market to obtain products5. Pricing – ways for the marketer to set and adjust the cost paid by the market to obtain products6. Supporting Services – additional options that enhance a product’s value

While these decisions are shown with a number, the order of decision-making does not necessarily follow this sequence. However, as we will discuss, in almost all cases marketers should first identify target markets (#1) prior to making decisions #2 through #6 (commonly called the Marketing Mix) since these decisions are going to be directed toward satisfying the desired target markets.

Each option within the marketer’s toolkit is tightly integrated with all other options so that a decision in one area could, and often does, impact decisions in other areas. For instance, a change in the price of a product (e.g., lowering the price) could impact the distribution area (e.g., requires increased product shipments to retail stores).

Additionally, options within the toolkit are affected by factors that are not controlled by the marketer. These factors include economic conditions, legal issues, technological developments, social/cultural changes, and many more. While not managed in the way marketers control their toolkit, these external factors must be monitored and dealt with since these can cause considerable harm to the organization. Ignoring outside elements also can lead to missed opportunities in the market especially if competitors are the first to take advantage of the opportunities. As part of the strategic and tactical planning process discussed above it is wise for marketers to pay close attention to the environment outside the organization.

Finally, as noted earlier, research plays a significant role in all marketing decisions areas. As we will see in the Marketing Research Tutorial, marketing decisions should not be made without first committing time and resources to obtaining needed information

Marketing research is the systematic gathering, recording, and analysis of data about issues relating to marketing products and services. The term is commonly interchanged with market research; however, expert practitioners may wish to draw a distinction, in that market research is concerned specifically with markets, while marketing research is concerned specifically about marketing processes.[1]

Marketing research is often partitioned into two sets of categorical pairs, either by target market: Consumer marketing research, and Business-to-business (B2B) marketing researchOr, alternatively, by methodological approach: Qualitative marketing research, and Quantitative marketing researchConsumer marketing research is a form of applied sociology that concentrates on understanding the preferences, attitudes, and behaviors

ofconsumers in a market-based economy, and it aims to understand the effects and comparative success of marketing campaigns. The field of consumer marketing research as a statistical science was pioneered by Arthur Nielsen with the founding of the ACNielsen Company in 1923.[2]

Thus, marketing research may also be described as the systematic and objective identification, collection, analysis, and dissemination of information for the purpose of assisting management in decision making related to the identification and solution of problems and opportunities inmarketing.[3] The goal of marketing research is to identify and assess how changing elements of the marketing mix impacts customer behavior.

Role of marketing researchThe task of marketing research is to provide management with relevant, accurate, reliable, valid, and current information. Competitive

marketing environment and the ever-increasing costs attributed to poor decision making require that marketing research provide sound information. Sound decisions are not based on gut feeling, intuition, or even pure judgment.

Marketing managers make numerous strategic and tactical decisions in the process of identifying and satisfying customer needs. They make decisions about potential opportunities, target market selection, market segmentation, planning and implementing marketing programs, marketing performance, and control. These decisions are complicated by interactions between the controllable marketing variables of product, pricing, promotion, and distribution. Further complications are added by uncontrollable environmental factors such as general economic conditions, technology, public policies and laws, political environment, competition, and social and cultural changes. Another factor in this mix is the complexity of consumers. Marketing research helps the marketing manager link the marketing variables with the environment and the consumers. It helps remove some of the uncertainty by providing relevant information about the marketing variables, environment, and consumers. In the absence of relevant information, consumers' response to marketing programs cannot be predicted reliably or accurately. Ongoing marketing research programs provide information on controllable and non-controllable factors and consumers; this information enhances the effectiveness of decisions made by marketing managers. [4]

Traditionally, marketing researchers were responsible for providing the relevant information and marketing decisions were made by the managers. However, the roles are changing and marketing researchers are becoming more involved in decision making, whereas marketing managers are becoming more involved with research. The role of marketing research in managerial decision making is explained further using the framework of the "DECIDE" model:

Elements of the marketing mix are often referred to as 'the four Ps': Product  - A tangible object or an intangible service that is mass produced or manufactured on a large scale with a specific volume

of units. Intangible products are service based like the tourism industry & the hotel industry or codes-based products like cellphone load and credits. Typical examples of a mass produced tangible object are the motor car and the disposable razor. A less obvious but ubiquitous mass produced service is a computer operating system. Packaging also needs to be taken into consideration.

Price  – The price is the amount a customer pays for the product. It is determined by a number of factors including market share, competition, material costs, product identity and the customer's perceived value of the product. The business may increase or decrease the price of product if other stores have the same product.

Place  – Place represents the location where a product can be purchased. It is often referred to as the distribution channel. It can include any physical store as well as virtual stores on the Internet.

Promotion  represents all of the communications that a marketer may use in the marketplace. Promotion has four distinct elements: advertising, public relations, word of mouth andpoint of sale. A certain amount of crossover occurs when promotion uses the four principal elements together, which is common in film promotion. Advertising covers any communication that is paid for, from cinema commercials, radio and Internet adverts through print media and billboards. Public relations are where the communication is not directly paid for and includes press releases, sponsorship deals, exhibitions, conferences, seminars or trade fairs and events. Word of mouth is any apparently informal communication about the product by ordinary individuals, satisfied customers or people specifically engaged to create word of mouth momentum. Sales staff often plays an important role in word of mouth and Public Relations (see Product above).

12.ADVERTISINGAdvertising is a form of communication intended to persuade an audience (viewers, readers or listeners) to take some action. It includes the

name of a product or service and how that product or service could benefit the consumer, to persuade potential customers to purchase or to consume that particular brand. Modern advertising developed with the rise of mass production in the late 19th and early 20th centuries.[1]

Types of advertisingVirtually any medium can be used for advertising. Commercial advertising media can include wall paintings, billboards, street

furniture components, printed flyers and rack cards, radio, cinema and television adverts, web banners, mobile telephone screens, shopping carts, web popups, skywriting, bus stop benches, human billboards, magazines, newspapers, town criers, sides of buses, banners attached to or sides of airplanes ("logojets"), in-flight advertisements on seatback tray tables or overhead storage bins, taxicab doors, roof mounts and passenger screens, musical stage

shows, subway platforms and trains, elastic bands on disposable diapers,doors of bathroom stalls,stickers on apples in supermarkets, shopping cart handles (grabertising), the opening section of streaming audio and video, posters, and the backs of event tickets and supermarket receipts. Any place an "identified" sponsor pays to deliver their message through a medium is advertising.

[edit]TelevisionMain articles: Television advertisement and Music in advertisingThe TV commercial is generally considered the most effective mass-market advertising format, as is reflected by the high prices TV networks

charge for commercial airtime during popular TV events. The annual Super Bowl football game in the United States is known as the most prominent advertising event on television. The average cost of a single thirty-second TV spot during this game has reached US$3 million (as of 2009).

The majority of television commercials feature a song or jingle that listeners soon relate to the product.Virtual advertisements may be inserted into regular television programming through computer graphics. It is typically inserted into otherwise

blank backdrops[10] or used to replace local billboards that are not relevant to the remote broadcast audience.[11] More controversially, virtual billboards may be inserted into the background[12] where none exist in real-life. This technique is especially used in televised sporting events [13] Virtual product placement is also possible.[14][15]

[edit]InfomercialsMain article: InfomercialAn infomercial is a long-format television commercial, typically five minutes or longer. The word "infomercial" is a portmanteau of the

words "information" & "commercial". The main objective in an infomercial is to create an impulse purchase, so that the consumer sees the presentation and then immediately buys the product through the advertised toll-free telephone number or website. Infomercials describe, display, and often demonstrate products and their features, and commonly have testimonials from consumers and industry professionals.

[edit]Radio advertisingRadio advertising is a form of advertising via the medium of radio.Radio advertisements are broadcasted as radio waves to the air from a transmitter to an antenna and a thus to a receiving device. Airtime is

purchased from a station or network in exchange for airing the commercials. While radio has the obvious limitation of being restricted to sound, proponents of radio advertising often cite this as an advantage.

[edit]Press advertisingPress advertising describes advertising in a printed medium such as a newspaper, magazine, or trade journal. This encompasses everything

from media with a very broad readership base, such as a major national newspaper or magazine, to more narrowly targeted media such as local newspapers and trade journals on very specialized topics. A form of press advertising isclassified advertising, which allows private individuals or companies to purchase a small, narrowly targeted ad for a low fee advertising a product or service.

[edit]Online advertisingOnline advertising is a form of promotion that uses the Internet and World Wide Web for the expressed purpose of

delivering marketing messages to attract customers. Examples of online advertising include contextual ads that appear on search engine results pages, banner ads, in text ads, Rich Media Ads, Social network advertising, online classified advertising, advertising networks and e-mail marketing, including e-mail spam.

[edit]Billboard advertisingBillboards are large structures located in public places which display advertisements to passing pedestrians and motorists. Most often, they

are located on main roads with a large amount of passing motor and pedestrian traffic; however, they can be placed in any location with large amounts of viewers, such as on mass transit vehicles and in stations, in shopping malls or office buildings, and in stadiums.

[edit]Mobile billboard advertising

The RedEye newspaper advertised to its target market at North Avenue Beach with a sailboat billboard on Lake Michigan.Mobile billboards are generally vehicle mounted billboards or digital screens. These can be on dedicated vehicles built solely for carrying

advertisements along routes preselected by clients, they can also be specially-equipped cargo trucks or, in some cases, large banners strewn from planes. The billboards are often lighted; some being backlit, and others employing spotlights. Some billboard displays are static, while others change; for example, continuously or periodically rotating among a set of advertisements.

Mobile displays are used for various situations in metropolitan areas throughout the world, including: Target advertising One-day, and long-term campaigns Conventions Sporting events Store openings and similar promotional events Big advertisements from smaller companies Others[edit]In-store advertisingIn-store advertising is any advertisement placed in a retail store. It includes placement of a product in visible locations in a store, such as at

eye level, at the ends of aisles and near checkout counters, eye-catching displays promoting a specific product, and advertisements in such places as shopping carts and in-store video displays.

Covert advertisingCovert advertising, also known as guerrilla advertising, is when a product or brand is embedded in entertainment and media. For example, in

a film, the main character can use an item or other of a definite brand, as in the movie Minority Report, where Tom Cruise's character John Anderton owns a phone with the Nokia logo clearly written in the top corner, or his watch engraved with the Bulgari logo. Another example of advertising in film is in I, Robot, where main character played by Will Smith mentions his Converse shoes several times, calling them "classics," because the film is set far in the future. I, Robot and Spaceballs also showcase futuristic cars with the Audi and Mercedes-Benz logos clearly displayed on the front of the vehicles. Cadillac chose to advertise in the movie The Matrix Reloaded, which as a result contained many scenes in which Cadillac cars were used. Similarly, product placement for Omega Watches, Ford, VAIO, BMW and Aston Martin cars are featured in recent James Bond films, most notably Casino Royale. In "Fantastic Four: Rise of the Silver Surfer", the main transport vehicle shows a large Dodge logo on the front. Blade Runner includes some of the most obvious product placement; the whole film stops to show a Coca-Cola billboard.

[edit]CelebritiesMain article: Celebrity branding

This type of advertising focuses upon using celebrity power, fame, money, popularity to gain recognition for their products and promote specific stores or products. Advertisers often advertise their products, for example, when celebrities share their favorite products or wear clothes by specific brands or designers. Celebrities are often involved in advertising campaigns such as television or print adverts to advertise specific or general products.

The use of celebrities to endorse a brand can have its downsides, however. One mistake by a celebrity can be detrimental to the public relations of a brand. For example, following his performance of eight gold medals at the 2008 Olympic Games in Beijing, China, swimmer Michael Phelps' contract with Kellogg's was terminated, as Kellogg's did not want to associate with him after he was photographed smoking marijuana.

While advertising can be seen as necessary for economic growth, it is not without social costs. Unsolicited Commercial Email and other forms of spam have become so prevalent as to have become a major nuisance to users of these services, as well as being a financial burden on internet service providers.[19] Advertising is increasingly invading public spaces, such as schools, which some critics argue is a form of child exploitation.[20] In addition, advertising frequently uses psychological pressure (for example, appealing to feelings of inadequacy) on the intended consumer, which may be harmful.

[edit]Hyper-commercialism and the commercial tidal waveCriticism of advertising is closely linked with criticism of media and often interchangeable. They can refer to its audio-visual aspects (e. g.

cluttering of public spaces and airwaves), environmental aspects (e. g. pollution, oversize packaging, increasing consumption), political aspects (e. g. media dependency, free speech, censorship), financial aspects (costs), ethical/moral/social aspects (e. g. sub-conscious influencing, invasion of privacy, increasing consumption and waste, target groups, certain products, honesty) and, of course, a mix thereof. Some aspects can be subdivided further and some can cover more than one category.

As advertising has become increasingly prevalent in modern Western societies, it is also increasingly being criticized. A person can hardly move in the public sphere or use a medium without being subject to advertising. Advertising occupies public space and more and more invades the private sphere of people, many of which consider it a nuisance. “It is becoming harder to escape from advertising and the media. … Public space is increasingly turning into a gigantic billboard for products of all kind. The aesthetical and political consequences cannot yet be foreseen.” [21] Hanno Rauterberg in the German newspaper ‘Die Zeit’ calls advertising a new kind of dictatorship that cannot be escaped. [22]

Ad creep: "There are ads in schools, airport lounges, doctors offices, movie theaters, hospitals, gas stations, elevators, convenience stores, on the Internet, on fruit, on ATMs, on garbage cans and countless other places. There are ads on beach sand and restroom walls.” [23] “One of the ironies of advertising in our times is that as commercialism increases, it makes it that much more difficult for any particular advertiser to succeed, hence pushing the advertiser to even greater efforts.”[24] Within a decade advertising in radios climbed to nearly 18 or 19 minutes per hour; on prime-time television the standard until 1982 was no more than 9.5 minutes of advertising per hour, today it’s between 14 and 17 minutes. With the introduction of the shorter 15-second-spot the total amount of ads increased even more dramatically. Ads are not only placed in breaks but e. g. also into baseball telecasts during the game itself. They flood the internet, a market growing in leaps and bounds.

Other growing markets are ‘’product placements’’ in entertainment programming and in movies where it has become standard practice and ‘’virtual advertising’’ where products get placed retroactively into rerun shows. Product billboards are virtually inserted into Major League Baseball broadcasts and in the same manner, virtual street banners or logos are projected on an entry canopy or sidewalks, for example during the arrival of celebrities at the 2001 Grammy Awards. Advertising precedes the showing of films at cinemas including lavish ‘film shorts’ produced by companies such as Microsoft or DaimlerChrysler. “The largest advertising agencies have begun working aggressively to co-produce programming in conjunction with the largest media firms”[25] creating Infomercials resembling entertainment programming.

13.BANKINGSome banking services that are popular in our countryThe different types of banks that exist in RomaniaTypes of banksBanks' activities can be divided into retail banking, dealing directly with individuals and small businesses; business banking, providing

services to mid-market business; corporate banking, directed at large business entities; private banking, providing wealth management services to high net worth individuals and families; and investment banking, relating to activities on the financial markets. Most banks are profit-making, private enterprises. However, some are owned by government, or are non-profit organizations.

Central banks are normally government-owned and charged with quasi-regulatory responsibilities, such as supervising commercial banks, or controlling the cash interest rate. They generally provide liquidity to the banking system and act as the lender of last resort in event of a crisis.

[edit]Types of retail banks Commercial bank: the term used for a normal bank to distinguish it from an investment bank. After the Great Depression, the U.S.

Congress required that banks only engage in banking activities, whereas investment banks were limited to capital market activities. Since the two no longer have to be under separate ownership, some use the term "commercial bank" to refer to a bank or a division of a bank that mostly deals with deposits and loans from corporations or large businesses.

Community banks : locally operated financial institutions that empower employees to make local decisions to serve their customers and the partners.

Community development banks : regulated banks that provide financial services and credit to under-served markets or populations. Postal savings banks : savings banks associated with national postal systems. Private banks : banks that manage the assets of high net worth individuals. Offshore banks : banks located in jurisdictions with low taxation and regulation. Many offshore banks are essentially private banks. Savings bank : in Europe, savings banks take their roots in the 19th or sometimes even 18th century. Their original objective was to

provide easily accessible savings products to all strata of the population. In some countries, savings banks were created on public initiative; in others, socially committed individuals created foundations to put in place the necessary infrastructure. Nowadays, European savings banks have kept their focus on retail banking: payments, savings products, credits and insurances for individuals or small and medium-sized enterprises. Apart from this retail focus, they also differ from commercial banks by their broadly decentralised distribution network, providing local and regional outreach—and by their socially responsible approach to business and society.

Building societies  and Landesbanks: institutions that conduct retail banking. Ethical banks : banks that prioritize the transparency of all operations and make only what they consider to be socially-responsible

investments. Islamic banks : Banks that transact according to Islamic principles.[edit]Types of investment banks Investment banks  "underwrite" (guarantee the sale of) stock and bond issues, trade for their own accounts, make markets, and

advise corporations on capital market activities such as mergers and acquisitions.

Merchant banks  were traditionally banks which engaged in trade finance. The modern definition, however, refers to banks which provide capital to firms in the form of shares rather than loans. Unlike venture capital firms, they tend not to invest in new companies.

[edit]Both combined Universal banks , more commonly known as financial services companies, engage in several of these activities. These big banks are

very diversified groups that, among other services, also distribute insurance— hence the term bancassurance, a portmanteau word combining "banque or bank" and "assurance", signifying that both banking and insurance are provided by the same corporate entity.

[edit]Other types of banks Islamic banks  adhere to the concepts of Islamic law. This form of banking revolves around several well-established principles based

on Islamic canons. All banking activities must avoid interest, a concept that is forbidden in Islam. Instead, the bank earns profit (markup) and fees on the financing facilities that it extends to customers.

The role of the central bank central bank, reserve bank, or monetary authority is a banking institution granted the exclusive privilege to lend a government its currency.

Like a normal commercial bank, a central bank charges interest on the loans made to borrowers, primarily the government of whichever country the bank exists for, and to other commercial banks, typically as a 'lender of last resort'. However, a central bank is distinguished from a normal commercial bank because it has a monopoly on creating the currency of that nation, which is loaned to the government in the form of legal tender. 

The role loans play in people livesEveryone needs money at every stage of their life. Sometimes it so happens that they have keen desire to purchase their favorite stuff but they

are incapable to purchase due to shortage of money. 

Here lies a question that a person who does not have a good amount of money at particular time has no right to see dreams? Is he not authorized to fulfill his desires on time? Should he stop dreaming? No, because there is solution for these queries. Loans are available for these purposes only. 

Loans are provided to people for such critical circumstances which may occur at any time. In anyone’s life a situation may come when all of sudden you require cash. A moment when you do not want to borrow cash from your relatives. 

There may occur any kind of emergency when you need huge amount of money. There are various types of loans like home loans, personal loans, student loan, business loan etc. You can take any type of loan you need. For each and every kind of need, loans are available. 

Home loans are available for general home purposes like buying a luxurious car, going for a holiday trip, educational purpose, home improvement etc. Many of your desires can be fulfilled by this loan.

Personal loans are available for personal requirements like wedding ceremony, purchasing a home etc. Student loan as it itself suggest is that it is provided basically to students for higher education. Students who want to study more but can not afford can get apply for such loans and continue their studies.

To start a new business you require a huge amount of money. A person willing to setup a business may not have that much cash which can meet out his requirements. For this business loans are available. You can get business loans to start and well establish a new business in market.

Whatever may be the kind of loan, all have full fledged facilities. All kind of loans have their own importance. Above all, need of money explains the importance of loan. Appling for loan is very easy. Apply for that loan whichever is needed to you. But before applying you should go through different lender’s policies and apply for that lender which is beneficial for you. 

Different lenders have different policies. If you get loan for long term with low rate of interest then it is beneficial for you. Due to competition, lenders are trying their best to attract people by providing different schemes which in turn is good for people. 

Whether you would like to work in a bankWhat is the commercial role of a bank?Which are the essential economic functions of banks?How does are bank earn profit?Why are bank accounts indispensable to businnisses?

14. International Trade

What are the considerations involved in physically exporting goods?International trade is exchange of capital, goods, and services across international borders or territories.[1] It refers to exports of goods and services by a firm to a foreign-based buyer (importer)[2]In most countries, it represents a significant share of gross domestic product (GDP). While international trade has been present throughout much of history (see Silk Road, Amber Road), its economic, social, and political importance has been on the rise in recent centuries.In what way does technology make trade less risky?We live in a world full of global opportunities and global risks. Terrorists or geopolitical disputes can upturn shipments of everything from sneakers to computer chips and lingerie. No matter the product, there are always worries about lost cargo, the buyer's credit and general ability to pay, currency fluctuations, and meeting compliance and security regulations.But that's not the end of what today's risk managers call all the elements of a "risk portfolio." In volatile markets like electronics, shippers worry about slow downs that make a product obsolete by the time it hits retailers' shelves. In these tight circumstances any mishaps-from manufacturing to shipping-cost big-time. So risk managers now assess "organizational exposure," or places where weak organization creates problems.

And the off-shore trend, not to mention global outsourcing, also means greater opportunities coupled with strain to meet tight shipping schedules, all of which adds up to more financial risk. Then there's buying and selling on the web in a global market, which opens up its own Pandora's Box of potential hazards, from currency issues to credit and lack of warrantees.Tally all of these potential risks and "at the end of the day it comes down to money," explains John Hagerty, vice president of research at AMR Research, a Boston, Massachusetts-based consulting company that specializes in tracking technology related to the supply chain. "Risk management is growing out of the compliance front and taking it to the next level. It's not just complying with the letter of the law, but managing with a risk profile, which will differ from company to company," Hagerty explains. "All have their own hot buttons and tolerance to risk. What's important is trying to figure out places where things can go wrong (in global trade) and ways to plug them.""When you sell overseas, the assessment of risk involves political and economic factors that differ from one market to another,". "Terrorism creates volatility, which increases both risk and opportunity. As for the Internet, it's brought the world closer together and is expanding horizons for businesses, but it also made the whole world more accessible, increasing competitiveness and meaning you have to deliver."Insurance companies have traditionally handled issues such as lost cargo while banks traditionally dealt with credit and currency issues. Experts interviewed for this article say there are new players entering the risk management field, as well. Hagerty explains that manufacturers/shippers are avoiding letters of credit-long offered by banks to reduce credit risk in overseas transactions-because they slow things down. This trend is opening the door for new financial risk managers who can "accelerate the flow of cash and automate manual activities."So new technologies, and the application of some old technologies, are starting to change the face of the risk management arena, Hagerty explains. Consider TradeCard, Inc. in New York City, which focuses on automating what CEO Kurt Cavano calls "the financial supply chain-the process that exists between when the order happens and when settlement takes place."TradeCard is one of those new web-based services that aims to replace the letter of credit by providing a sort of credit card for international trade. While "providing the technology to allow global buyers and sellers to connect," Cavano says TradeCard, Inc. also offers "the kind of legal infrastructure to make sure you can move the money, provide guarantees, and do that kind of stuff electronically." The company also works in alliance with 18 financial institutions "that can move the money when it's time to move the money and provide guarantees so you can be assured (you or your customer) is going to be get paid."Besides addressing financial risk while attempting to speed the trade process, TradeCard also provides data visibility, which company officials also view as another form of risk management. "We give both the buyer and seller visibility into the whole process, which mitigates your risk because you know what's going on," Cavano. He also cites a legal framework "in which to do all this. How do you make sure you can move money into particular countries? How do you make sure the people you're doing business with are not on some State Department list that says you're not allowed to work with them? TradeCard provides the sort of legal infrastructure to make sure you can move the money, provide guarantees, and do that kind of work electronically. That means we're a technology environment, a legal environment and a financial environment all delivered electronically to the desktop of our customers, whether they're big buyers like JC Penney, Staples or Columbia sports with suppliers all over the world," says Cavano.William B. Diaz, managing director of CS STARS Sales for Marsh USA Inc. in Chicago, Illinois, says they've noticed "a growing trend among corporate customers requesting a single computerized system to manage risks across their organization. Traditionally, there are many disparate systems, which ruins the opportunity for collaboration across departments toward quick resolution of these issues."Marsh, a risk and insurance services firm, is responding through its STARS software product, which Diaz says "is being used by organizations to manage a broad array of risks such as claims, legal actions, theft and security breaches. Our reporting tools allow clients to spot trends, mitigate damages and identify possible fraudulent occurrences. Using a single system improves collaboration by allowing multiple departments to manage the pieces of a single event that pertain to their area of responsibility," he explains.She offers the example of a manufacturer/shipper insured to $10 million per any one location for each shipment. If a vessel is rerouted because of severe weather, the shipment is delayed and the company could suffer far more losses than the $10 million per location coverage. The Roanoke tool, Groff says, helps this sort of customer assess "these potential exposures" and carry adequate insurance.

Are you for the modernization of customs or for their elimination?Customs Modernization. The Automated System for Customs Data (ASYCUDA) Programme

UNCTAD provides assistance in the technical modernization of customs, including the automation and clearance of goods.  The objective is to facilitate trade by speeding up the clearance process through the use of information technology and the reduction and simplification of customs documentation and procedures. This also has the effect of (i) increasing revenue through the computerization of the customs tariff, and (ii) providing reliable and timely trade and fiscal statistics.In this regard, UNCTAD has developed a computerized customs management system, the Automated System for Customs Data (ASYCUDA), which is installed in more than 70 countries. Project implementation includes a comprehensive training package that allows for the transfer of ASYCUDA know-how and skills to national staff. ASYCUDA´s electronic homepage provides a comprehensive overview of ASYCUDA++, the functionalities and benefits to be achieved thereby, and user countries have access to a secured area, which contains technical and functional information, as well as discussion groups.

What kind of information does the trade balance provide?The balance of trade (or net exports, sometimes symbolized as NX) is the difference between the monetary value ofexports and imports of output in an economy over a certain period. It is the relationship between a nation's imports and exports.[1] A favourable balance of trade is known as a trade surplus and consists of exporting more than is imported; an unfavourable balance of trade is known as a trade deficit or, informally, a trade gap. The balance of trade is sometimes divided into a goods and a services balance.The importance of exports and imports for a country guys, you just have to know that exports helps increase the income of the country and imports lets the country get what it wants.=)

Import export trade assumes huge importance in the context of overall performance of the world economy. An upward trend of import export trade is indicative of smooth functioning of the world economy; whereas a downward trend results from economic instability.

Proper import administration is essential for ensuring free inflow of goods and services to a home country. Tariffs, quotas, and government subsidies stand in the way of free flow of goods and services.The principal objective of import administration is to enforce proper anti-dumping measures and implement fair trade practices across borders. Competitive import trade environment helps in increasing inflow of foreign funds to a home country. It also increases competitiveness of the domestic

Export trade is the primary source of foreign exchange of or a country. A country gains from exporting a commodity or service if it has significant comparative advantage of producing that commodity or service over its foreign competitor.

As per Heckscher-Ohlin model of international trade, a country specializes in and exports a commodity that intensively uses the factor of production, which is in abundant supply in that country. Gains from export trade depend on the difference between autarkic terms of trade of the country of import and the country of export. Customs authorities of different nations are in charge of enforcing codes and regulations to ensure fair export trade practices in the international market.

The reasons for which countries tradeThe first theory section of this course contains explanations or reasons that trade takes place between countries. The five basic reasons why trade may take place between countries are summarized below. A variety of models are described which offer a reason for trade and the expected effects of trade on prices, profits, incomes and individual welfare.Differences in TechnologyAdvantageous trade can occur between countries if the countries differ in their technological abilities to produce goods and services. Technology refers to the techniques used to turn resources (labor, capital, land) into outputs. Differences in Resource EndowmentsAdvantageous trade can occur between countries if the countries differ in their endowments of resources. Resource endowments refers to the skills and abilities of a country's workforce, the natural resources available within its borders (minerals, farmland etc.), and the sophistication of its capital stock (machinery, infrastructure, communications systems). Differences in DemandAdvantageous trade can occur between countries if demands or preferences differ between countries. Individuals in different countries may have different preferences or demands for various products. The Chinese are likely to demand more rice than Americans, even if facing the same price. Canadians may demand more beer, the Dutch more wooden shoes, and the Japanese more fish than Americans would, even if they all faced the same prices.Existence of Economies of Scale in ProductionThe existence of economies of scale in production is sufficient to generate advantageous trade between two countries. Economies of scale refer to a production process in which production costs fall as the scale of production rises. This feature of production is also known as "increasing returns to scale."Existence of Government PoliciesGovernment tax and subsidy programs can be sufficient to generate advantages in production of certain products. In these circumstances, advantageous trade may arise solely due to differences in government policies across countries.

Arguments for and against protectionism and free tradeArguments for protectionismProtectionists believe that there is a legitimate need for government restrictions on free trade in order to protect their country’s economy and its people’s standard of living.[edit]The "Comparative Advantage" argument has lost its legitimacyOpponents of free trade often argue that the comparative advantage argument for free trade has lost its legitimacy in a globally integrated world—in which capital is free to move internationally. Herman Daly, a leading voice in the discipline of ecological economics, emphasizes that although Ricardo's theory of comparative advantage is one of the most elegant theories in economics, its application to the present day is illogical: "Free capital mobility totally undercuts Ricardo's comparative advantage argument for free trade in goods, because that argument is explicitly and essentially premised on capital (and other factors) being immobile between nations. Under the new global economy, capital tends simply to flow to wherever costs are lowest—that is, to pursue absolute advantage." [10]

[edit]Domestic tax policies can favor foreign goodsProtectionist believe that allowing foreign goods to enter domestic markets without being subject to tariffs or other forms of taxation, leads to a situation were domestic goods are at a disadvantage, a kind of reverse protectionism. By ruling out revenue tariffs on foreign products, governments must rely solely on domestic taxation to provide its revenue, which falls disproportionately on domestic manufacturing. Protectionists argue that this reverse protectionism is most clearly seen and most detrimental to those countries (such as the US) that do not participate in the Value Added Tax (VAT) system. This is a system which generates revenues from taxation on the sale goods and services whether foreign or domestic. Protectionists argue that a country that does not participate is at a distinct disadvantage when trading with a country that does. That the final selling price of a product from a non-participating country sold in a country with a VAT tax must bear not only the tax burden of the country of origin, but also a portion of the tax burden of the country were it is being sold.Protectionists believe that governments should address this inequity, most likely in the form of tariffs.[edit]Infant industry argumentSome proponents of protectionism claim that imposing tariffs that help protect newly founded infant industries allows those domestic industries to grow and become self-sufficient within the international economy once they reach a reasonable size.[edit]Free Trade undercuts domestic policies for social goodProtectionists argue that governments rightly enact policies into law to protect its citizens from the excesses of laissez-faire capitalism. Examples are:Protectionists argue that these laws place a burden on companies that put them at a disadvantage when they compete, both domestically and abroad, with goods and services produced by companies unfettered by such restrictions.Protectionists argue that governments have a responsibility to protect domestic companies when putting them at a competitive disadvantage by enacting laws for social good. Otherwise, they believe that these laws end up destroying domestic companies and ultimately hurting the citizens these laws were designed to protect.

[edit]Arguments against protectionismProtectionism is frequently criticized as harming the people it is meant to help. Many mainstream economists instead support free trade.[1][4] Economic theory, under the principle ofcomparative advantage, shows that the gains from free trade outweigh any losses as free trade creates more jobs than it destroys because it allows countries to specialize in the production of goods and services in which they have a comparative advantage. [12] Protectionism results in deadweight loss; this loss to overall welfare gives no-one any benefit, unlike in a free market, where there is no such total loss. According to economist Stephen P. Magee, the benefits of free trade outweigh the losses by as much as 100 to 1.[13]

Most economists, including Nobel prize winners Milton Friedman and Paul Krugman, believe that free trade helps workers in developing countries, even though they are not subject to the stringent health and labour standards of developed countries. This is because "the growth of manufacturing — and of the myriad of other jobs that the new export sector creates — has a ripple effect throughout the economy" that creates competition among producers, lifting wages and living conditions.[14] Economists have suggested that those who support protectionism ostensibly to further the interests of third world workers are in fact being disingenuous, seeking only to protect jobs in developed countries.[15] Additionally, workers in the third world only accept jobs if they are the

best on offer, as all mutually consensual exchanges must be of benefit to both sides, else they wouldn't be entered into freely. That they accept low-paying jobs from first world companies shows that their other employment prospects are worse.Alan Greenspan, former chair of the American Federal Reserve, has criticized protectionist proposals as leading "to an atrophy of our competitive ability. ... If the protectionist route is followed, newer, more efficient industries will have less scope to expand, and overall output and economic welfare will suffer." [16]

Protectionism has also been accused of being one of the major causes of war. Proponents of this theory point to the constant warfare in the 17th and 18th centuries among European countries whose governments were predominantly mercantilist and protectionist, the American Revolution, which came about primarily due to British tariffs and taxes, as well as the protective policies preceding both World War I and World War II. According to Frederic Bastiat, "When goods cannot cross borders, armies will."Free trade promotes equal access to domestic resources (human, natural, capital, etc.) for domestic participants and foreign participants alike. Some thinkers extend that under free trade, citizens of participating countries deserve equal access to resources and social welfare (labor laws, education, etc.). Visa entrance policies tend to discourage free reallocation between many countries, and encourage it with others. High freedom and mobility has been shown to lead to far greater development than aid programs in many cases, for example eastern European countries in the European Union. In other words visa entrance requirements are a form of local protectionism.

Economic arguments for free tradeClassical economic analysis shows that free trade increases the global level of output because free trade permits specialization among countries. Specialization allows nations to devote their scarce resources to the production of the particular goods and services for which that nation has a comparative advantage. The benefits of specialization, coupled with economies of scale, increase the global production possibility frontier. An increase in the global production possibility frontier indicates that the absolute quantity of goods and services produced is highest under free trade. Not only are the absolute quantity of goods and services higher, but the particular combination of goods and services actually produced will yield the highest possible utility to global consumers.[edit]Qualitative argumentsFree trade policies are often associated with general laissez-faire economic politics and parties, which permit faster growth. Voluntary exchange, by virtue of its voluntary nature, is assumed to be beneficial (ex ante) to the parties involved (why else would they engage in the exchange?). Thus, the restriction of voluntary exchange restricts commerce and ultimately the accumulation of wealth.[edit]Production possibilities frontiers and indifference curves [edit]Sociopolitical arguments in favor of free trade[edit]Free trade enriches culturesConcepts such as cultural conservatism and nationalism are premised on the notion that a given culture is both valuable and endangered. To the extent that local culture is valued, products and services reflective of that culture are desired and thus available among the many alternatives. According to this argument, all major cultures have evolved through hybridization with external influences throughout history. Attempts to subvert this process by erecting trade and investment barriers deprive cultures of the positive influences that keep it from stagnating. This argument focuses on the fact that every culture evolves and that free trade supports cultural exchange, as cultural products can be traded freely. [1][edit]Free trade enhances national securityFree trade can enhance national security, on the condition that a nation does not trade with its enemies. Free trade increases a nation's relative power vis-à-vis its rivals, because free trade gives optimal economic advantages, which translates into more economic and military power and more technological innovation. A clear example is the US, which enjoys to a certain degree free trade. Without this quite liberal trade the military burden (i.e. its military expenditures of about $500 billion) would weigh heavy on its economy. The closed-economy Soviet Union would have had to spend 15-20% of its GDP if it wanted to equal the US (which now spends almost 4% of its GDP). According to most economists[citation needed] heavy military expenditures slow the economic growth of an economy. The higher the expenditures, the higher the disadvantages. Once the burden becomes too high, an economy recesses, forcing the military expenditures to be decreased. According to many political scientists[citation needed] this was the case in the 1980s in the Sov

InsuranceIn law and economics, insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the insurance; an insured, or policyholder, is the person or entity buying the insurance policy. The insurance rate is a factor used to determine the amount to be charged for a certain amount of insurance coverage, called the premium. Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practiceTypesAny risk that can be quantified can potentially be insured.

Life insurance- Life insurance is an insurance coverage that pays out a certain amount of money to the insured or their specified beneficiaries upon a certain event such as death of the individual who is insured. This protection is also offered in aFamily takaful plan, a Shariah-based approach to protecting you and your family.

The coverage period for life insurance is usually more than a year. So this requires periodic premium payments, either monthly, quarterly or annually.

The risks that are covered by life insurance are:

Premature death

Income during retirement

Illness

   

 

The main products of life insurance include:

 

Whole life

Endowment

Term

Investment-linked

Life annuity plan

Medical and health

General InsuranceGeneral insurance is basically an insurance policy that protects you against losses and damages other than those covered by life insurance. For more comprehensive coverage, it is vital for you to know about the risks covered to ensure that you and your family are protected from unforeseen losses. 

The coverage period for most general insurance policies and plans is usually one year, whereby premiums are normally paid on a one-time basis. 

The risks that are covered by general insurance are:

 

Property loss, for example, stolen car or burnt house

Liability arising from damage caused by yourself to a third party

Accidental death or injury

Auto insurance protects the policyholder against financial loss in the event of an incident involving a vehicle they own, such as in a traffic

collision.

Coverage typically includes:

1. Property coverage, for damage to or theft of the car;

2. Liability coverage, for the legal responsibility to others for bodily injury or property damage;

3. Medical coverage, for the cost of treating injuries, rehabilitation and sometimes lost wages and funeral expenses.

Most countries, such as the United Kingdom, require drivers to buy some, but not all, of these coverages. When a car is used as collateral for

a loan the lender usually requires specific coverage.

Home insurance

A home is destroyed by fire in Essex,England

Main article: Home insurance

Home insurance provides coverage for damage or destruction of the policyholder's home. In some geographical areas, the policy may

exclude certain types of risks, such as flood or earthquake, that require additional coverage. Maintenance-related issues are typically the

homeowner's responsibility. The policy may include inventory, or this can be bought as a separate policy, especially for people who rent

housing. In some countries, insurers offer a package which may include liability and legal responsibility for injuries and property damage

caused by members of the household, including pets.[19]

[edit]Health insurance

Main articles: Health insurance and Dental insurance

Great Western Hospital, Swindon

Health insurance policies issued by publicly-funded health programs, such as the UK's National Health Service will cover the cost of

medical treatments. Dental insurance, like medical insurance, is protects policyholders for dental costs. In the U.S. and Canada, dental

insurance is often part of an employer's benefits package, along with health insurance.

[edit]Accident, sickness and unemployment insurance

Workers' compensation, or employers' liability insurance, is compulsory in some countries

Disability insurance policies provide financial support in the event of the policyholder becoming unable to work because of disabling

illness or injury. It provides monthly support to help pay such obligations as mortgage loans and credit cards. Short-term and long-term

disability policies are available to individuals, but considering the expense, long-term policies are generally obtained only by those with

at least six-figure incomes, such as doctors, lawyers, etc. Short-term disability insurance covers a person for a period typically up to six

months, paying a stipend each month to cover medical bills and other necessities.

Long-term disability insurance covers an individual's expenses for the long term, up until such time as they are considered permanently

disabled and thereafter. Insurance companies will often try to encourage the person back into employment in preference to and before

declaring them unable to work at all and therefore totally disabled.

Disability overhead insurance allows business owners to cover the overhead expenses of their business while they are unable to work.

Total permanent disability insurance provides benefits when a person is permanently disabled and can no longer work in their profession,

often taken as an adjunct to life insurance.

Workers' compensation insurance replaces all or part of a worker's wages lost and accompanying medical expenses incurred because of a

job-related injury.

Finance and accounting

An accountant is a practitioner of accountancy, which is the measurement, disclosure or provision of assurance about financial information that helps managers, investors, tax authorities and other decision makers make resource allocation decisions. The question is How to be a Good Accountant even if you're not already graduate?

1.Qualities of a good accountantnot easily frustrated, problem solver;good mathematician ;Logical thinking; Love of numbers; Strong communication skills; Analytical ability; Ability to synthesize; Solid computer skills.

FiNANCE AND ACCOUNTINGHow important are tax advisors?A tax consultant is also referred to as a tax advisor as he advises you on the best practices so that you can maximise your tax refunds. These individuals are trained in law and accounting procedures so that they can help you manage your taxes and cash flow as well. Filing your taxes can be a time and energy consuming endeavour so it is better to hire the services of tax consultants.it is very important that you get the correct financial advice when planning your business capital. Where taxes are concerned you can save a lot of money if you have the correct knowledge about deductions and applicable tax credits. Most business owners, as the companies expand need to invest all of their attention in the company and in ways to grow, in such cases though important, they don’t have time to file taxes which is punishable by law. To avoid such issues it is the best practice to hire a professional taxation accountant who can file the right amount of tax at the right time.

Why can’t business organizations operate whitout Accounting?Accounting refers to the process of bookkeeping that are involved in making the financial records of business transactions. These Bookkeeping methods are also used in preparation of statements concerning the assets, liabilities and operating results of a company. It is a very important

process in an organization. The information derived from the accounting processes gives complete financial information about the company and conveys its financial standing to the owners and employees of the company. It also shows which products or assets of the company are most profitable and those which are weak. Day to day bookkeeping on the accounting principles, helps in keeping record of daily transactions and also helps in preventing any fraudsAccounting is important in business to provide a general overview of how the business is doing financially. Understanding accounting greatly helps the business owner make profitable decisions for the company.Profit and Loss Accounting allows the business owner to see where profit is being made and where losses are occurring, helping him know where improvements need to be made.Cash Flow Through accounting, the business owner can see where money is being spent; this allows for better understanding and budgeting of money.Balance SheetSeeing if profits are large enough to overcome expenses is tantamount in business; this information defines the success of the operation.Financial DecisionsWith accounting, the business owner can make financial decisions that will be most lucrative in the long run.TaxesAll financial records are kept in order thanks to accounting; this allows taxes to be executed easily and precisely at the end of the yeaWhy should all business students have some backround in Accounting?Some students have had little or no exposure to financial accounting principles and financial statements; others have had some, perhaps extensive, experience with financial accounting. To provide an introduction to the basic concepts and techniques of financial accounting to those who have little or no accounting background, and to provide a refresher course for students with some accounting experience, we have developed an accounting tutorial.Which are the effects of inadequate finance?The skills an accountant needsSkills to be an accountant includeAbility to use a calculator or computer with proficiencyAttention to detail Ability to see when the pieces of a puzzle do not fit or what ones are missingPatienceAbility to deal with repetitive tasks and calculationsAble to work without alot of interaction with people

The difference between an accountant and a financial managerDutiesAn accountant properly and ethically accounts for business transactions. He also creates reports and handles tax issues. An accountant stays up-to-date on all new accounting rules and regulations. He has to pay attention to every detail in order to properly account for business transactions.EducationA Certified Public Accountant (CPA) has usually completed a Bachelor's or Master's degree. A CPA must also pass the CPA exam to prove his knowledge of generally accepted accounting practices. Accounting practices rapidly change. Therefore, an accountant is constantly learning and reading up on new practices and procedures. An accountant needs to have strong mathematical and analytical skills.TechnologyBoth small businesses and large corporations utilize accounting software to generate reports, invoice customers and maintain inventory records. An accountant should to be able to comfortably and competently use these software packages.EthicsAs a result of the Enron and Worldcom scandals, the Sarbanes-Oxley Act was put into place. This act holds businesses to a higher ethical standard. Accounting is now under a great deal of scrutiny. An accountant needs to be ethical and honest while reporting figures so that he can give business shareholders an accurate view of a company's finances.

Some important accounting documents and their roleIt is important that you know the type of documents commonly used to record the occurrence of transactions (Can you think of any examples?). Some of them are: -

Official receipts, Cash bills, Bills, Invoice

BALANCE SHEET is an itemized statement that lists the total assets and the total liabilities of a given business to portray its net worth at a given moment of time. The amounts shown on a balance sheet are generally the historic cost of items and not their current valuesA ledger[1] is the principal book for recording transactions. Originally, the term referred to a large volume of Scripture/service book kept in one place in church and accessibleAssets liabilities owner’s equity

PROFIT AND LOSS STATEMENT (P&L) is also known as an income statement. It shows your business revenue and expenses for a specific period of time. The difference between the total revenue and the total expense is your business net income. A key element of this statement, and one that distinguishes it from a balance sheet, is that the amounts shown on the statement represent transactions over a period of time while the items represented on the balance sheet show information as of a specific date (or point in time

Duties of a financial manager

Formulating budget estimates in support of program objectives; presenting and justifying budget requests; development of plans for allocating resources; monitoring program execution; reviewing and analyzing funding documents; conducting comparative analyses to examine trends; reviewing budget policy and statutes to ensure compliance.

Reviewing and interpreting accounting and financial management policy, procedures, standards and statutes to ensure compliance; monitoring and examining accounts, specific appropriations or financial records for account status and reporting requirements; and verifying accounts documentation.

vPlanning and conducting performance and financial reviews of major programs and entities to evaluate the reliability, effectiveness, and efficiency of the organization; making recommendations based on findings that identify cost savings through improved operations; and following up on recommendations to ensure implementation

ENTREPRENEURSHIP

A business   plan  is a written guide outlining each part of your business. The plan can help you get loans, promote business growth and be a guide for managing each aspect of your business.Business

1. A business plan needs to include a detailed description of your business. This will include sections for marketing, competition, operating procedures, personnel and business insurance.

Finances2. You should have financial projections, profit-and-loss statements, loan information and applications, balance   sheets , and anything

in relation to the business' finances.Documentation

3. You also need to provide copies of licenses, tax   returns , leases, contracts and all other legal documents.Size

4. The size of your business plan will depend on the kind of business you own. Standard business plans average 20 to 40 pages.Considerations

5. According to the Small Business Administration, there is no single formula for developing a business plan, although there are some elements common to all business plans.

Entrepreneurs enjoy the freedom of making their own business decisions and becoming their own bosses. In addition, they also gain the stability and control that could never be achieved as a regular employee. If you have been dreaming of becoming one of these entrepreneurs, you should find out the disadvantages and advantages of taking on this role.

Advantages of Entrepreneurs

Excitement: compared to being regular employees, entrepreneurs enjoy much excitement beginning from the planning stage of the business up to development and realization. Thrill-seekers obviously love being entrepreneurs as they are exposed to too much risk. You should never forget, that all business risks that you agree on taking, should be calculated.

Salary Potential: most people who are employed generally feel that they are not being compensated for the work they do. In addition, they must follow the salary structure set by their employers. Entrepreneurs, on the other hand, earn money that is commensurate to their efforts.

Flexibility: having control of work schedules and commitments makes the life of these entrepreneurs enviable. They are able to take vacations anytime and spend much quality time with their families.

Independence: for people who love the idea of not being answerable to anyone else but themselves, becoming an entrepreneur would surely be wonderful. They would be able to make decisions without the pressure of getting fired.

Disadvantages of Entrepreneurs

No Regular Salary: when you start a business, you should be prepared to leave behind the security of having a paycheck each month. Even successful entrepreneurs experience lean months when all financial resources are being taken up by the new business.

Work Schedule: although they have the luxury of a flexible schedule, entrepreneurs also make sacrifices especially during situations that require them to work longer hours. Unlike regular employees who are not worried too much about the status of the business, entrepreneurs must make sure that everything is going well.

Administration: because they own the business, all major decisions are made by entrepreneurs. This is quite a burden and handling such responsibility is quite difficult. Every decision directly affects the future of their businesses and avoiding costly mistakes is imperative.

After comparing the advantages and disadvantages, you will have to decide if you can realistically handle all the responsibilities of owning your own business aside from being prepared for all the risks you have to take. But if you look closely, being an entrepreneur is still desirable especially with the sense of fulfillment and accomplishment they gain from beating all odds and overcoming all challenges. As long as you have passion and commitment, you will be able to handle these disadvantages beautifully.Get Free massive exposure to your website and its products/services by joining a targeted Social Network where other Entrepreneurs hang out.http://www.BizFriendz.com