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Tuesday, January 25, 2011

Revenue Management Is A Sign Of Success

Nitty-gritty of Revenue ManagementRevenue management first noticed and accepted by the airline industry. Many travel and hospitality companies have been focused to the "adapt or perish" hymn while moving towards revenue management. Today, revenue management processes and systems are implemented in number of industries, including manufacturing, advertising, energy, hi-tech, telecommunications, car rental, cruise line, railroad and retail. In the future, companies that ignore revenue management will be at a serious disadvantage.Actually, revenue management is the concept of adopting the number of implementation of emerging and changing business...



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Top 10 Management Problems in the 20th Century

The 20th century enterprise does not manage business reality! Business reality is defined by two entities:- Results: The specific economic outputs from the totality of the business- Performance Solutions: The invested capital specifically utilized to produce specific resultsThe enterprise must organize and manage results and performance solutions in order to organize and manage business reality.The failure of the 20th century enterprise to organize and manage business reality creates unsolvable management, business, and performance problems. The 20th century enterprise defines both the performance solutions utilized and the results produced as...



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The Evolution of Project Management

Importance of Project Management is an important topic because all organisations, be they small or large, at one time or other, are involved in implementing new undertakings. These undertakings may be diverse, such as, the development of a new product or service; the establishment of a new production line in a manufacturing enterprise; a public relations promotion campaign; or a major building programme. Whilst the 1980's were about quality and the 1990's were all about globalisation, the 2000's are about velocity. That is, to keep ahead of their competitors, organisations are continually faced with the development of complex products, services...



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Helping Supervisors become Performance Managers

How does your organization prepare supervisors to manage employee performance?What tools does your organization provide to make performance management part of a supervisor's daily routine?How much emphasis does your organization place on performance management?If you were able to quickly and easily answer these questions, it's likely that you have made a priority of helping supervisors understand and embrace the importance of being performance managers. If you had to think twice about your answers or if your answers were immediately on the negative side, it's likely that the day-to-day management of employee performance has not been made a priority...



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Confessions of a Reformed Manager: Seven Principles for Becoming a Good Manager

Another one walked out the door. With him, $25,000 in recruitment fees, $3,000 in relocation expenses and a $31,000 learning curve went down the drain. Clients became uneasy, employee morale suffered and my firm's ability to recruit top talent was negatively impacted.My management style was costing my firm money and it was exacting an emotional toll on me. Taking each departure personally, I was beginning to feel like a failure.Like so many young managers, I had been bumped up into management because I was a good producer. No one had considered that production and management require two different skill sets, and that those skill sets are often at odds with one another.I wanted to be a good manager. I took management courses, read a plethora of self-help books and hired a management coach,...



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The Mini-Project Manager Concept

"Manage from the bottom up; not just from the top down; this creates personal commitment and accountability."- Bryce's LawINTRODUCTIONA couple of months ago we started a free service to analyze a person's style of management. Through our "Bryce Management Analysis," a manager answers a series of questions (30 in all) and, based on his responses, we produce a report which assesses his style of management as well as other attributes.The data collected from these surveys has confirmed a lot of my suspicions; that companies are regressing back to a Theory X form of management. Over the last twenty years we have witnessed a dramatic swing from a Theory Y or Z form of management, back to Theory X. Whereas workers used to be empowered to make decisions and tackle assignments (a la Theory Y or Z),...



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Managing Risk in Financial Sector

Risk Management is a hot topic in the financial sector especially in the light of the recent losses of some multinational corporations e.g. collapses of Britain's Barings Bank, WorldCom and also due to the incident of 9/11. Rapid changes in business condition, restructuring of organizations to cope with ever increasing competition, development of new products, emerging markets and increase in cross border transactions along with complexity of transactions has exposed Financial Institutions to new risks dimensions. Thus the concept of risk has captured a growing importance in modern financial society.By facilitating transactions and making credit and other financial products available, the financial sector is a crucial building block for private as well as public sector development. In its...



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The Death of Management

"You cannot treat a patient if he doesn't know he is sick."- Bryce's LawINTRODUCTIONEpitaph:"Here lies the body of 'Management,'Who at one time moved mountains but was put to death bygovernment regulations, social mores, office politics,and general apathy. R.I.P."I have a good friend who was recently elevated to the job title of "Systems Manager"at a large Fortune 500 company in the U.S. Midwest. As someone who has been inthe Information Systems field for over 30 years now, my interest was piqued and I askedher how big of a staff she was going to manage and what kind of systems she wasgoing to be responsible for administrating. She told me she had no staff and herresponsibilities primarily included going to user sites and helping them setup theirlaptop computers with office suites and pertinent...



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