GREATMINDINFO

Investors are usually savvy people, that’s how they got the money to invest in the first place!! They only want to put their money somewhere they are assured of a better return on it than in the Bank, or investing it on the stock market.  It’s your job to persuade them you will make money for them. Do this by researching your market, and then producing a well thought out business plan. I have dealt with this in detail in the very first module of this course, but I recommend you reread this carefully now. When we studied it at the beginning of the course, you may have been new to management theory. Now you will see this advice in a different light. Please read all the modules listed on this page. Realistically a new business is not going to make a profit in the first year, or maybe even the second. So, you need to cover your running costs for that period, as well as the start-up costs. It is important to borrow enough, not only to meet the start-up costs, but also to...

Topic:  What does it mean to supervise?  Supervisors are responsible for the development of their team, to ensure each individual has the skills to enable the team to run as effectively as possible and that the workgroup operates to optimum effectiveness. They offer leadership to their team, as well as training. They are responsible for task allocation, and will also be concerned with the morale of the team. Ultimately, they will be tasked with achieving the targets, goals and outputs expected of the team. To achieve this, they will usually offer “on the spot” training, demonstrating to staff how to perform tasks. They will delegate appropriate tasks to ensure the work is performed effectively.It falls to the supervisor to set the culture and tone of the workplace, and set a good example. They will focus on motivating the team and individuals to achieve targets, and keep the team in line with the overall strategic direction of the company; Training employe...

Topic:  Performance management and appraisals Performance management facilitates high levels of performance, and creates a culture encouraging continuous improvement. But it is not always a positive experience for staff, and carried out badly it is a demotivater. Learn how to make this a positive experience, opening up a dialogue that enables problems to be aired and dealt with sensitively, positive feedback to be given and development plans agreed and implemented. Learn how to manage team performance and consider how to motivate staff. Performance management is a process which organizations use to align their resources, systems and employees to strategic objectives and priorities. It contributes to the effective management of individuals and teams, enabling them to achieve high levels of organizational performance, and creates a culture that encourages the continuous improvement of business processes and peoples’ skills and performance. It brings together man...

                      Topic:  Workplace Stress Management – From an employee’s perspective       Apparently stress literally shrinks the size of your brain!Researchers at Yale University found that stress reduces the volume of grey matter in the part of your brain that is responsible for self-control.         So, the fact that someone is experiencing stress makes it more difficult to deal with future stress, because their ability to take control and manage their stress is in itself diminished. But the plasticity of the brain lets it change and rebuild damaged areas as a person practices new Behaviours. What this means, is that adopting healthy stress-relieving techniques, of itself, trains your brain to handle stress more effectively. Doctor Bradbury suggests seven strategies to help you fix your brain and keep your stress under control: Say No. Saying no to a new comm...

        Topic:  Promoting within or outside the organisation Talented ambitious people want to join companies where they know they will have the chance of advancement. Also, as you say, you have nurtured these people and they are knowledgeable in the way you want things done, so this can produce a harmonious team all pulling in the same direction.As long as you have people who can move up to replace the person who has been promoted, and you are sure your employee is a great candidate for the job, then this can be a good plan. But on the other hand, you may benefit from introducing new blood into the mix. There might be people on the market who are much more suitable for the role. You might recruit someone who asks the question nobody thinks of, or dares to ask. They might be disruptive in a good way, in that they stimulate those around them, unleashing new thinking and new ideas in your own people. And you might be missing out on some of t...

    Topic:  How To Orientate Yourself In a new Role You should have a formal induction covering all the immediate practical information you need. If not, ask for information such as “What is the fire drill procedure”, “where can I get lunch”, “what about car parking”? Get passwords and login details for email and any other systems you need to access. Make a note of them! It is useful to have a small, pocket or handbag sized notebook on you at this stage to note down things you need to remember, or follow up. Using one will probably massively improve your performance. Or else use the calendar and notes function in your phone or tablet -but do remember to follow up! You will probably have a meeting scheduled with your manager, where they will be able to provide guidance. If not, ask for one. If you are senior enough to have a secretary or assistant, then it would be reasonable to assume they will be able to guide you through a lot of the difficulties ...

                        Topic: Decision Making Decision making and problem solving are the meat and drink of business life. Some decisions are made almost instinctively, but more complex decisions with many factors involved require the analysis of a finite set of alternatives described in terms of criteria which can be evaluated. According to Wikipedia decision making might be regarded as a problem solving activity which is terminated when a satisfactory solution is reached. Decision making is a reasoning or emotional process which can be rational or irrational, can be based on explicit assumptions or tacit decisions.   Decisions are often involuntary and following the decision, we spend time analyzing the cost and benefits of that decision. This is known as “Rational Choice Theory,” which encompasses the notion that we maximize benefits and minimize the costs. Most decisions are made unconsciously,...