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What Giant Success Takes: The Keys in Making it Big in the Business World

Have you ever wondered why Chinese are one of the most successful entrepreneur in the business world? In close scrutiny, among the companies that are funded by the foreign nationalities, over 70% are Chinese-owned. Their investments are even more than half of the total investment capital of the business. Chinese businessmen usually own 60% of the shares in the different businesses all over the world.

So, whatis with the Chinese entrepreneurs that they have the tendency to always make it big in the industry? Why is it that they always succeed whenever they are engaged into any kind of business?

The answer lies on the fact that they possess what it takes to succeed in the business. They possess the qualities that are needed in order to survive in the hustle and bustle of everyday living in the industry.

Primarily, courage and grit are the primary itriggersi with the success of many Chinese. They believe that if you want to establish a business, you need to take chances.

The Chinese used their thriftiness and trade to get ahead. For example, a Chinese businessman that is into clothes and garments would usually cut the garments themselves. There are times that the Chinese businessmen had their own businesses, but would still help their family on whatever activities that would help them earn more money.

In some cases, these people would work all night long even if their hands get swollen just so they could finish what must be done at once.

Secondly, the Chinese were dedicated to their work. Hence, it is important for every businessperson to incorporate the values that can be found in the Chinese like assuming all the roles that are necessary in order to run the business. Best of all, they would teach that to their children. No wonder why most successful businessmen are considered as jack-of-all-trades.

Hence, this kind of commitment results to a certain kind of philosophy, in which Chinese businessmen believe in: business titles are not that important with regards to their roles in the company.

The good thing about being a good entrepreneur is to disregard business titles. What matters most is to focus on things that need to be done and they do it.

The Chinese work ethic is pragmatically sustainable as far as the businessi success is concerned. For some nationalities, education is the be-all and end-all and business is just a means of getting a good education. Most people are being conditioned to study well so we can find a good job. We are not being taught the value of entrepreneurship, but for many Chinese, they dream of making it big, and business is a means of achieving that.

The best entrepreneurs even contend that the lack of appreciation for entrepreneurship is one of the main reasons why some countries have not moved forward economically.

So, what does it takes to have a giant leap to success? Here are some tips that Chinese businessmen had learned and will love to teach to those who want to make it big in the industry:

1. Find your target market

It would be better to choose a business no one else would try out because it was not a typical elite or socially appealing business.

The logic here is that it is, indeed, easier to start a business for middle-end childrenis clothes, for example, but you will just as easily lose money because there are a lot of you fighting for the same market.

2. Do not spend too much on things that are not important. Save more money.

It is important for every person to know the value of money and the importance of saving for a rainy day.

3. Do not believe in any iget-rich-quicki scheme.

Most entrepreneurs would contend that it is common for every trade to lose some money within two years of operation. Do not be crestfallen. Focus on establishing a base of operations and learning from your mistakes.

4. Be penny-wise

Spend only on things that you can afford.

5. Choose your customers well

Go for quality rather than quantity. Chinese businesses do not advertise as much as Western businesses because they believe that the iword-of-mouthi is the key to getting new clients. It is better to rely on goodwill that you generate in your business.

Boiled down, leaping through a giant step to success and in making it big in the industry, it is better to have a personal approach to work. No matter how petty the patch up is, it is better to visit your clients personally. In turn, this makes the customer feel contented because the proprietor himself is actually solving the problem in person!

Working Smarter to Succeed in the Modern Business World

In the business world, every penny counts when it comes to ensuring an organisation is in good shape and remains profitable in the long term.

But whilst thriftiness will certainly help to ensure money isn’t needlessly wasted on luxury items that contribute nothing to the revenue-generating side of the business, it’s equally important to be aware of when and where not to cut corners. Businesses will ultimately only get something in return by investing money where it matters.

Intelligent business decisions are central to any successful company and whilst many of these will be made purely on the good instinct of the business owners, it always helps to get a few pointers as to where improvements can be made and where the day-to-day operational aspects can be streamlined.

For example, small to mediums sized business owners often have their work cut out for themselves, especially in the early days. It may be the case that they have to learn about every aspect of running a business from keeping the accounts and recruitment to fixing photocopiers and networking an entire office.

However, it’s impossible to become an expert in everything. And sometimes, it may not be cost effective to employ a full-time member of staff to carry out a particular function that is only required on an ad-hoc basis. In these instances, it may be wise to consider outsourcing certain aspects of the company to external bodies who are not only experts in their fields, but also operate a ‘pay as you use’ service philosophy.

In terms of technology, the Internet is perhaps one of the most valuable tools a modern day business has at their disposal, as it is often the first port of call for many potential customers. So optimising online operations should be a priority for any organisation that wishes to ensure both its short and long term profitability.

With a large proportion of consumers now connected to the World Wide Web, this helps to outline the importance of having a fully functioning and useful website. Whilst the customer-facing side of operations is important, the technology a company employs for its own use can make a huge difference to productivity, and can help everybody in the organisation perform to the best of their ability.

Indeed, with many companies now adopting a remote working ethos, managing workloads on the move is becoming increasingly common and necessary. It may mean keeping in close contact with clients or suppliers, or simply always being available should someone from the office need help or support with a certain task.

Web-enabled mobile phones and PDAs have played their part in the past, but their inherent limitations mean that laptops with mobile broadband technology is becoming an increasingly popular option for those who need to stay connected when they’re out of the office.

By adopting smart working methods, a business can ultimately stand a far better chance of succeeding in the long term. Whilst it is important not to spend money needlessly, it is equally as important to spend money where it is needed.

MBA Courses at Top Business Schools

 

Masters in Business Administration or MBAs are in real demand these days. And if someone has done his or her MBA course from a reputed business school, it’s an icing on the cake. Incumbents of top business schools bag very good offers from the corporate world. An alumnus of Harvard Business School or IMD gets a rousing welcome in the enterprises.

 

Almost all the universities conduct the MBAs program today. With the phenomenon of globalization taking the practical shape whole world has emerged in to big market. This has led to the great increase in the business activities all over. Products and services are being sent and received across continents. This situation has posed a huge demand for the skilled professionals in the industries. In an MBA program syllabus is prepared in such a manner that it covers all essential elements of business.

 

MBA Specializations:

There are various streams of MBA course which can be studied as specializations. Some examples are: MBA in Human Resources (HR), MBA in Hospitality & Tourism, MBA in Entrepreneurship, MBA in Communication, MBA in Marketing, MBA in Health Care Management, MBA in Finance, MBA in Operations and many more.

 

Some prestigious Management Institutes in the US and elsewhere are enumerated below:

 

Top Business Schools USA

Harvard Business School

Stanford

University of Pennsylvania

Northwestern (Kellogg)

Columbia

Duke (Fuqua)

Virginia (Darden)

MIT (Sloan)

University of Chicago

University of Michigan

 

 

Top MBA programs outside USA

INSEAD, France

IMD, Switzerland

London Business School, UK

Toronto (Rotman) Canada

Western Ontario (Ivey)

Rotterdam School of Management (Erasmus)

IESE

University of Oxford (Said)

Instituto de Empresas ,Spain

SDA Bocconi, Italy

 

 

For more information on MBA Courses and Business Schools, please visit www.indiaedu.com

International Business Management: Paving the path towards a transnational market

When the floodgates were opened a few years ago and multinational companies started their business in our country, everyone was skeptical about the nature of growth in our country. But all were pleasantly surprised by the success of globalization. The tremendous workforce in our country contributed to the stupendous annual growth. Due to this, international business management received afresh impetus and the demand of MBA in International Business Management increased manifold.

International business management deals with global commerce and seeks to break the shackles of geographical and political boundaries. Since the internet has acted as a powerful tool in making the world accessible, the variety of careers awaiting the youth is plenty. In this context, MBA in international management has a great future. In order to make it a successful career, you have to develop an interest in global politics, culture, time and money, which play an important role in making you a good business professional. You have to develop a proficiency in knowing the market principles of different countries.

The need for MBA in International Business Management:-

If you want to study MBA in International Business Management, you must have an ear for grasping the economic pulse of different countries. You should be ready to work as an executive whose area of functioning is diverse. You have to develop strategies to deal with multicultural concerns keeping in mind the sensitive international relations.

With the advent of multinational companies in India, the domestic companies are also inspired to spread their wings and venture in different directions outside the country. This factor is causing a tilt towards international business management. Be it government agencies or banks; everyone has a need for people with MBA in International Business management. With opportunities knocking at your door, you should be intelligent enough to grasp it with both hands and make the most of it.

Even if you haven’t done your MBA but are already working in a company which is looking to globalize, you need not worry. You can still complete your education by enrolling for an MBA in International business management now. Not only will this enhance your prospects in the company, but you can look to get into better companies as well. The skills that you learn will certainly help you out.

What will you get after doing an MBA in International Business Management?

Once you apply for a degree in International Business Management, you must be curious to know about your prospects. A general study shows that you can expect an annual salary of Rs. 5 – Rs. 10 lakhs if you are employed by a reputed company. You job may help you to settle in different countries and get a diverse experience. You must however look for job satisfaction and the scope for career growth in whatever you do.

An MBA in International Business management can be very lucrative and will surely provide you with many avenues for developing your skill in international business. You can also develop a passion for learning foreign languages to further your business acumen. With a degree in international business management, you can aim to place India on the top of the world map. There can be no dream better than that.

Best Business Schools 2008 (a Survey Conducted by Csr-ghrdc)

Looking to do a management courses? Here is a review of MBA schools for you.

Bangalore Management Academy (BMA):

The new breed of Indians sees opportunities everywhere. While we’re still a careful culture, we’ve come to believe in acceptable risks, for rewards. This is why even as financial legends topple in the West, young Indians are already preparing for the next wave of prosperity, led by the Asian giants – India China.

It is at places like The Bangalore Management Academy that young, aspiring professionals are groomed to take on the mantle of the next generation of global leaders, to build tomorrow, on the remarkable accomplishments of today’s Indian Business giants.

BMA is a new management Institution that they choose to apply more than the tried and tested traditional methods to education. The institution has well-earned reputation for providing globally recognised Master’s and Bachelor’s degrees in a truly international academic environment. The curriculum, faculty, teaching methods, facilities, infrastructure – all measure up to the highest international bench mark and maintained through superb educational alliances with the best universities and institutions around the world, such as the Bharathidasan Institute of Management (BIM Trichy), the Edith Cowan University (Australia), the University of Aberdeen School of Law (UK), the Asia Pacific University College of Technology and Innovation (Malaysia), the Retailers Association of India (RAI), the Pondicherry University (PU) and the Singapore Human Resources institute (SHRi).

These tie-ups imply that BMA now offers various kinds of MBA programmes, as well as MA degrees including law and technical degrees. The Singapore Human Resources institute (SHRi) alliance offers Indian professionals qualifications from Singapore’s internationally renowned HR accreditation authority.

Institute for Financial Management and Research (IFMR):

Established in 1970 as a non-profit organization, The Institute for Financial Management and Research (IFMR), Chennai, is a leading business school, aiming to train and develop globally competitive managers to serve the needs of the Indian industry. Its curriculum is a mix of theory and simulated real life exposure, so its graduates are equipped to meet all kinds of challenges. Sponsored by ICICI, the House of Kotharis and other major industrial groups, and with the Finance Secretary, Government of TamilNadu and the Vice Chancellor of the University of Madras are ex-official board members. IFMR is recognised as a Social Science Research Institute by the Department of Scientific and Industrial Research, Government of India, and is approved as an institution of national importance by the Ministry of Finance. The faculty members have worked and consulted with both national and international organizations. The students too, are involved in these projects, ensuring a continuous interaction with industry. IFMR has a University of Madras approved Ph.D. degree in Finance and Economics. IFMR emphasizes a global perspective as to bring in the best international practices. It also believes in forging strong links with the industry in the development of teaching material, research, student projects, placement and consultancy services. The stress is on leadership with ethics. The approach to learning seeks to prepare students to be effective managers in the face of changes in management theory and practices as well as in the external environment. IFMR helps students realize their potential through active involvement in the learning process-they learn how to take decisions and meet stringent deadlines through assignments, cases, role-play, projects and simulated real life situations.

CSR-GHRDC B-School Survey 2008: New Emerging Potential and Promising B-Schools

Name of the B-Schools (alphabetically)

Asian School of Business, Thiruvananthapuram

Bangalore Management Academy, Bangalore

Cosmic Business School, New Delhi

IILM Business School, New Delhi

KIIT University, Bhubaneswar

K.R Mangalam Global Institute of Management, New Delhi

Poona School of Business, Pune

Competition Success Review 2008.

PGDM Courses- An Important Step Before Stepping Into the Business World

PGDM or Post Graduate Diploma in Management is equivalent to an MBA. There are a number of PGDM Courses one can choose from. The following are the different PGDM programs available

 

 

 

 

Full-time program

Part-time program

Distance Learning program

Executive program

Online program

A full-time PGDM program is usually of 2 years and comprises 4 semesters, 6 months each. Students can opt for their interest of specialization and have the option to choose from minor and major subjects. The choice of subjects includes the following:

Marketing

Finance

Human Resources

Operations and Logistics

Information Technology

Systems

International Trade and Business

Consumer Behavior

Risk Management

Entrepreneurship and many other.

The part-time and Executive PGDM are for those who are working executives and want to take up the course to further enhance their working skills. The part-time, distance and online learning programs are flexible whereas the Executive PGDM is strictly designed keeping the working people in mind.

These specialized PGDM Programs help one in assessing whether they are willing to continue to work in their field of interest. The curriculum of the courses is such that the person learns to deal with all situations. A manager needs to be able to motivate and guide his subordinates and should respect his superiors. Apart from imparting the basic know-how of the business world they also teach these things which are crucial to an organization.

Admission to a top-PGDM course can be obtained by appearing for the necessary entrance exams. Once the student clears the entrance tests he/she has to undergo a Group Discussion and Personal Interview after which he/she is selected and enrolled for final admission. The admission to the Top B Schools is sought by taking exams like the CAT, XAT, GMAT, NMET, MAT amongst others.

Once a student has successfully completed the PGDM Course he or she can apply for lucrative job opening which are offered. The PGDM Course boosts confidence and instills certain traits that are very important in the business world. One also becomes aware of certain latent skills and abilities that the program draws out during the course.

Completing your education world with a PGDM before stepping into the corporate world is the best thing in the competitive and demanding business environment today.

 

Coaching Services for the Business World

The coaching services in the business world are referred to as executive coaching services. Executive coaching marked its existence ever since the first manager produced the first successful team. It revolves around inculcating various talents and skills among the executives, by training and coaching them via new challenging ideas and possibilities. It helps them to develop and grow with the organization. There are several coaching services that provide the executives with the ability to communicate effectively and motivate and establish a relationship with the team. These are remarkable traits that bring out innate values of every individual. The business coaching service is new to the corporate world and it facilitates behavioral and psychological changes in the executives, enhancing their managerial skills. Owing to the increasing demands and pressures of the modern business environment, the demand of executive coaching is also rising.


Types of coaching services for the corporate world:


There are various coaching services that contribute to the development of the business world. They are as follows:


Coaching services to improve skills: Coaching service for the development of skills is designed to enable the executives to learn certain abilities and provide them with several perspectives, concerning management and relationship coordination. These services provide the executives with the ability to handle the new responsibilities, with the implementation of innovative tactics. In addition, it helps refine the existing proficiency of the employees.


Coaching services for overall development: These coaching services aim at enhancing the competencies of the individuals working in the corporate world. The service helps an individual to identify his hidden talents and modify them, according to the needs of the new profile and the crucial challenges that come along with it. In addition to this, it involves refining their speaking and listening skills, cultivating strategic planning, enhancing their time management skills and encouraging participation among subordinates. It not only trains executives to handle newer profiles, by broadening their technical know how, but also enables them to cultivate their interpersonal competence.


Coaching services to enhance performance: Personal ability and the feedback received from the group, combines to form the parameters to evaluate the performance of an executive. Being conversant with the essential technical or academic skills is not enough to execute the work assigned. You need to maintain a positive rapport with teammates and other staff within the organization. Performance is not evaluated on an individual basis, but also the overall performance of the team. Team spirit, rate of work completion and the collective effort of the team, form the key factors that determine the effectiveness of the employees and that of the organization.


Behavioral coaching services: More often than not, when an employee starts climbing the corporate ladder he is often considered arrogant by team members. This perception necessitates the executives to be brave enough to tackle the unnecessary criticism and win over the confidence and support of their colleagues. It is important to build a favorable rapport and assure the employees of their loyalty. These executives need behavioral coaching, to help them plan effective strategies to win over their subordinate staff. It calls for a considerable amount of emotional and mental capability to handle new challenging responsibilities. The program revolves around communication and effective leadership skills.


Transformational coaching services: The transformational coaching services are more personal in their approach, as compared to other coaching services. It analyzes the behavioral aspects of the trainees that hinder their effectiveness. It also evaluates the current behavioral patterns and abilities of employees and designs methodical strategy to improve them at the same time. The coach determines the limiting behavior pattern of the employee and formulates a plan to overcome the drawbacks in an effective manner.

How Campus placement helps Business School students and companies?

In today’s competitive world, number of companies is increasing and there are several vacant positions that need to be filled with the right candidate. Campus placement is one of the best methods for companies to conduct interviews in business school campuses and select bright students to fill these job vacancies. This method is not only effective for companies in getting the right candidate with less cost involved in the recruitment process but also beneficial for business schools in creating a name for their institute in the market.

There are several business schools in India that have a superb reputation in case of campus placements. For instance, Indira Global Business School is one of the leading business institutes in Pune where some of the top companies including MNCs and banks come to recruit bright students for jobs. This method has proved very beneficial for students of business schools because even before they get to finish their studies, they get an opportunity to get a job of their dreams. They don’t have to seek out employers, but employers approach them. It helps them shape their careers even before they step out of college.

Today, institutes hire a placement officer whose main function is to get in touch with companies (including small, medium and large) and coordinate with them to set up the campus placement process. If you are also preparing yourself for campus recruitment process it helps to know what are the common qualities that companies look for in a candidate. For instance, they look for students who are good at communication, have a good track record, self confident and a positive attitude towards their career. A business school such as Indira Global Business School gets its students placed in some of the top companies in India.

There are many companies that not only choose a student but also make an investment in training him/her. This ensures loyalty from the employee’s side because students tend to identify better and more closely with the first company that recruited them. In many cases, students also get ready to work at low salaries offered by large companies because it gives them a positive start in their career. There is no doubt that the method of campus recruitment has opened up doors of opportunities for students. Therefore, if someone is planning to pursue business management course, it is very important to select a good business management school. They must check the institute’s reputation in terms of campus placements to get a basic idea.

Reliv International, an International Business Opportunity

If you are looking for an international business opportunity, the Reliv International company might be what you are looking for. This company is known for its health and wellness products. Reliv company was founded by Robert and Sandra Montgomery in 1985. The company has over 70 thousand consultants around the world. Their main corporate office is in Missouri. They have other corporate offices in Germany, Canada, Philippines and a few other countries..

The Reliv company is a network marketing company. It has products for your general health, weight loss, joint health, heart health, anti-aging, plus many other vitamins and supplements for your health. This company is known for its high quality products it produces and that the ingredients they use are easily absorbed into the body when used correctly combined with other ingredients. They also have a line of products designed specifically for children and women. The Reliv company has its own manufacturing facility with a Scientific Advisory Board that was started in 1992. The company can guarantee and stand behind the quality of its products because of having their own facility.

Reliv’s growth has been so successful that it has a growing income into the high seven figures. That is fantastic growth! This company is a solid and growing company with a great and strong leadership. Being a network marketing company, they are able to produce a huge and solid down line. The Reliv company is a good business opportunity if your looking to get into network marketing to increase or replace your income.

The compensation plan is very generous, it pays out in various ways. It pays in retail profits, wholesale income, different bonuses and offers trips to top distributors. To become a Reliv distributor you need to purchase a start up fee, which covers your start up products. Then you need to keep a monthly autoship order of products going.

In order to generate numerous leads and generate traffic you need to know the strategies and techniques to build your down line. Most companies do the traditional and new way to get prospects. The old traditional way can get you started but can’t keep you going. Family and friends can only get your business off the ground, but you need serious leads and traffic daily to keep it going.

With this company having a strong foundation and having continuous growth, a business opportunity is available to the right person to make a great profit. By reading and learning all you can about network marketing, you could build yourself a huge successful business. It is all in knowing how to market the products. Using your warm market along with marketing online you will be able to have leads and prospects coming to you. Not only learning how to market but being able to apply what you have learned will get you the success you need.

The Reliv International company with its unique products is a wonderful international business opportunity if you are looking for a home based business to bring in the income you need. Along with time, patience, determination and the will to succeed you can have the success you dream of and the life style you deserve.

Strategic & technological change in the contemporary business world?

In the contemporary business world only thing that seems to be constant is change and the nature of the competition is such that companies need to leverage on the way they manage change to gain a competitive advantage. Moreover, the types of changes the companies experience vary in nature as well, for instance, as industries consolidate, there are increasing number of mergers and acquisitions, the pressures on organisation to compete in a more global arena are leading to different competitive pressures and more strategic alliances

Furthermore, rapid technological changes are forcing organisations to embrace new technologies and change the way they work and interface with suppliers and customers (Balogun and Hailey, 2004). However, the phenomenon is not new and has seen a series of management fads like cultural change programs, total quality management, business process re-engineering etc. Unfortunately most of the change programs launched within the organisations are below par, evident in the figure of around 70% failure (Balogun and Hailey, 2004). Hence, strategic change is becoming a highly sought after managerial competence.

Moreover, the change management process is highly complicated and there is no fixed norm that could be followed. However, like most other areas in management experts have proposed models for organisational change vis-a-vis Lewin’s model of change, the planning model, the action research model and the integrative planning model (Harigopal, 2006). These models cover various aspects of the change management process enabling planned change; however, one facet of the process that has emerged in recent times of increasing globalisation is that of organisational culture

The role of cultural awareness has become rather significant, be it international mergers, acquisitions or just internal business process changes. There has been a barrage of literature detailing the ways of diagnosing cultural changes and assessing cultural risk in managing change and aligning strategy and culture with the intended change. Along with managing cultural diversity during change processes, it has become a standard practice for organisations to publish its core values defining its organisational culture along with its mission statements on their websites and financial statements.
Be it the construction industry or an Aerospace organisation strategic change is attracting an increased attention from the management. Especially the extent of involvement of the people and stakeholders in the process of strategic has been under a constant debate. There are organisations like the Brazilian Semco, where people decide their own targets and managers their own salaries, which has redefined strategic change and involvement of people (Crainer, 1999). The bottom line is that strategic management has many facets and is developing into an area which will receive a lot of management attention.

Did you find this article useful?  For more useful tips and   hints, points to ponder and keep in mind, techniques, and insights pertaining to Internet Business, do please browse for more information at our websites.
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