Tuesday, June 29, 2010

Management by Objectives (Mbo)

Discusses how an organization with a traditional mindset ensures the successful implementation of the MBO concept.

By implementing MBO throughout an organization, managers would be able to "use strategic, tactical, and operational goals to direct employees and resources toward achieving specific outcomes that enable the organization to perform efficiently and effectively"...Read More>>

Saturday, June 26, 2010

Mind Mapping - Recall


Under normal circumstances, with our understanding being fairy constant, we have the tendency to "recall more at the beginning and ends of learning periods" (Buzan 2007, p63): "more of the items which are associated by repetitions, sense, rhyming etc; more of things which are outstanding or unique; and considerably less of things from the middle of learning periods" (Buzan 2007, p63). Buzan (2007, p62) states that during learning "memory and understanding do not work in exactly the same way as time progresses", with the tendency for recall to get progressively worse, unless the mind is given intervals for (brief) rest. And intervals for (brief) rest, in addition, can be useful as relaxation points: getting "rid of the muscular and mental tension which inevitably builds up during periods of concentration" (Buzan 2007, p64). So, in order for recall to be kept at a reasonable level, "it is necessary to find the point at which recall and understanding work in greatest harmony" (Buzan 2007, p63-64). According the Buzan (2007), this point occurs within a time period of between 20 to 50 minutes. A time period shorter than this point (of between 20 to 50 minutes) would not give the mind sufficient time to understand the rhythm and organization of the material, and a time period longer than this point (of between 20 to 50 minutes) would result in the continuing decline of the amount of information being recalled (Buzan 2007). "If a period of learning from a lecture is to take two hours, it is far better to arrange for brief breaks during these two hours" (Buzan 2007, pg 64); keeping the recall curve high and prevent it from dropping during the later stages of learning. ...Read more>>

5 Laws of Mind Mapping

States the five Laws of Mind Mapping and elaborate on each one of them.


Before becoming effective in using mind maps, you would need to set aside any preconceptions about mind mapping. Therefore, in order to create mind maps that can effectively communicate the message across, there are 5 laws (http://www.belfastmet.ac.uk/goal/Resources/MindMap/index_06.htm) of mind mapping that should be adhered to; to create mind maps that are attractive and functional.

By using these 5 laws, recall and review of a mind map’s content will be more effective and rapid. Disadvantages of standard note taking, such as time being wasted on reading redundant words, or/and words which have no bearing on memory, can be eliminated as well. (Buzan 2007)

1) Use Emphasis

Every component in a mind map is important, so placing emphasis on images, keywords, colours, spacing, and branches helps to convey its importance. In addition, by having a variation in (creative) imagery and keywords by using colours and spacing, further accentuates the mind map’s meaning.

Images

As an image is often ‘worth a thousand words’, mind maps should always start with a central image. The central image allows us to be familiar with the main topic of the mind map...Read more>>

Mind Mapping - Tefcas

Explains what TEFCAS stands for and gives an example of how it can be used to improve your studies.

470_561540.jpg

Developed by Tony Buzan (2006), TEFCAS is basically a learning (mnemonic) formula, an acronym that spells out the basic steps that the human brain takes to define an experience. TEFCAS stands for Trial, Event, Feedback, Check, Adjust, and Success (Buzan & Miller 2004).

When you seek feedback, check regularly, and make the necessary adjustments, you are engaged in learning; with persistence, success is guaranteed. There is no failure in TEFCAS, only success. (Buzan & Miller 2004)

Below is an explanation of what TEFCAS as a metaphor:

1. Trial

Depending on your goal, this is every attempt to achieve that goal, “you have to try it; you have to throw the ball”. (Buzan & Miller 2004, pg6)

2. Event

This is the memorable moment “when you throw the ball there will be an event, a physical absolute, and that event will be that ball the ball will land on your head, on the ground, in your hand, or in your partner’s coffee” (Buzan & Miller 2004, pg6) For example, becoming speechless in front of your audience, or being unable to deliver on a promise to a client...Read more>>

Thoughts on Branded Babies’ Clothing

Babies are delicate little creatures that require lots of love and care: they need to be fed, clothed and showered with love constantly. The world of babies is a simple one, they do not understand the concept of branded clothing or image, nor the value of money; they only know that they are either hungry, uncomfortable or want attention. All they want is their needs to be met, nothing else matters; neither the color of the clothes they wear nor the color and d├ęcor of their room.

Parents, on the other hand, are the ones that decide what their babies' wear and eat etc… Although babies require clothing, branded clothes are not a necessity; it is more of a “want” by the parents. More down-to-earth parents' might even consider it a waste of money to buy branded clothing for their babies', as it is a constant affair considering the rate at which babies grow. Thus, branded babies' clothing is definitely not for families who are on a budget and trying to save money.

Society, through the means of the media, has led many people to believe that branded equals to better. It may be true that branded products such as clothing, especially so in the case of babies' clothing, may have unique and adorable designs. However, this comes at a much higher price that ordinary babies' clothing. Is it really necessary to buy branded clothing for babies? Especially at an age where they are neither able to appreciate the finer things in life, nor differentiate between what is branded or not. It is only the adults that have such perceptions and it is the way they regard brands that matters.

There are alternatives to branded babies' clothing that may be just as good, and definitely much cheaper and affordable. Therefore, I believe that buying branded clothing is the decision of the parents', not the babies'. As long as a family is able to afford it, I see nothing wrong with buying a couple (not excessively) of branded babies' clothing or accessories. Nevertheless, if it comes at high cost of the family's budget and the growing child's future education and expenditure fund, parents should think thrice.

After all what matters the most is your baby growing up strong and healthy, and able to leading a happy life; all of which cannot be measured by the amount of money or branded goods that one has or is able to afford.

Managing High Blood Pressure

Managing your high blood pressure (hypertension) can help to lower your cardiovascular risks.
High blood pressure or hypertension – a silent killer, especially when it results in heart related complications – has no signs or symptom, with many people unaware that they are suffering from it. Although the cause is unknown, there appears to be linkage between high blood pressure (hypertension) and poor lifestyle habits such as an unhealthy or salty diet, and the lack of exercise...Read more>>

Five Everyday Computer Shortcuts

Five computer shortcuts to make using your computer easier and more fun.

1. Spice up your desktop icons
Bored of the usual boring Windows icons? Well, you have an alternative to spice up your ordinarily “boring” Window icons with snazzy downloads from hundreds of sites online.
One good place to start would be royalty-free ones at iconshock.com

First download a pack that you like. Once you have downloaded your desired pack, simply click on the icon you want changed. (For example, the calculator.)

Click Properties, click Change Icon, and Browse for the icon. In this case, it would be the Download folder where you placed them. Click OK and click Apply.

Make sure that you check that the site is genuine; you don’t want to download a virus instead. So...Read more>>

How to Get That Perfect Designer Handbag Without Having to Spend a Fortune

Want to have that designer handbag, but just don't have enough money for it? This article mentions how you can get that perfect designer handbag without spending a fortune...
With its fast moving fashion cycles, the fashion industry is a highly competitive, and global industry that is worth millions. According to Fenton (2008), due to the notion that fashion is associated with affluence, glamour and status, many consumers (in particular women) are "willing to spend their savings on designer fashions".

There is a growing market for rental luxury goods, as there is an increasing trend among consumers to believe that they are entitled to have the best things in life. However, not many of these consumers have the ability to obtain a lifestyle that is beyond their purchasing power. (Evers 2006) Being a fairly recent concept in the fashion industry, designer item rental is a concept that responds to the needs and wants of modern consumers (mostly women); empowering them with choices within their purchasing power.

"Now, instead of consumers having to trade down expectations to mainstream versions of luxury products, or forgoing essentials to afford one premium brand" (Evers 2006, p8), they can rent the luxury goods they want, whenever they want. An increased awareness on the part of designers, coupled with the fashion industry's fast moving cycles, has also contributed to the rising popularity of designer item rental; as more companies, (e.g. BAG BORROW OR STEAL). (Liu 2007)

Consumers who own or desire luxury goods are fashion-conscious, trendy fashionistas who not only want the associated prestige and status which accompany the brand(s) they carry, but also the perceived aesthetic appearance and feasibility of the item. They have the need to be in sync with the latest fashion trends, and do not want to be the last in line in "owning" the latest designer fashion item...Read more>>

Friday, June 25, 2010

Triond Overview

There are various places that you can earn some money writing online and Triond is just one of the many places.

When writing for Triond, grammar has to be good in order for it to be published. You can write about anything that you like to. Of course, the more popular a topic, you earn more money.

Triond is particular when it comes to the submission of your articles: the articles that you submit have to be original, and not submitted elsewhere on the internet. Content that has previously been published elsewhere on the internet, or articles that are too similar to various sources over the Internet will be declined. This includes duplicate items that you yourself have authored.

Once your article has been published, you would still retain all authorship and copyrights to the materials submitted for publication through the website. Other than articles, you can also publish photos, but they do not earn you as much money. If your article is good, interesting, and about a popular topic, with some good promotion, you can make quite a bit of money.

Payment is prompt, and is either by Western Union and Paypal. With Triond you are paid through Yahoo! ads and Google adsense ads which increases your earnings exponentially.

However, to truly start earning money you would have to build up your database of articles. So perseverance and constantly writing is the key, to not only honing your writing skills, but also earning some money. You should write and published your content in a site that you feel most comfortable with, so read the terms and conditions carefully. You may also like to try other similar sites...Read more>>

Associated Content Overview

Associated Content enables anyone to publish their content on any topic. It has categories for video, audio, and slide shows. Once content is published, Associated Content distributes that content through its website and content partners.

When you post to Associated Content, you can:
1) submit original, never published before content, request an up front payment and give Associated Content (AC) exclusive rights and ownership to the content.
2) submit original, never published before content with no up front payment. Similar to Hub Pages, you can change the content at any time.
3) publish content you’ve published elsewhere.

In addition to all 3 options, you also receive payments for every thousand page views or PPVs. This rate varies based on your Author rating and the content itself but is about $1.50 per thousand.

Articles are usually required to have at least 400 words and may include pictures from approved sources. Submitting your article does not guarantee it being published, as Associated Content exercises editorial control over content being submitted: sending work back to users for “polishing”, or rejecting submitted work for violations of the site’s terms of use and guidelines, such as promotional/advertorial content and plagiarism. In its own way, ensuring some sort of quality control.

However, in order to get paid you have to be a US Resident. If you are a US Resident and over 18 year of age, you would be paid for your work done on Associated Content. Previously, before being bought over by Yahoo!, Associated Content used to pay non US Residents by performance payments (e.g. $1.50 for every 1000 views). However, if you are not a US Resident there are no payment options available anymore. Performance Payment is sent on the Wednesday of each month. All payments can be mace via PayPal.

However, to truly start earning money you would have to build up your database of articles. So perseverance and constantly writing is the key, to not only honing your writing skills, but also earning some money. You should write and published your content in a site that you feel most comfortable with, so read the terms and conditions carefully. You may also like to try other similar sites...Read more>>

Sunday, June 13, 2010

The Only Responsibility of Managers is to Maximize Shareholder Wealth


Critically discuss whether the only responsibility of managers is to maximize shareholder wealth.

There are two approaches that shape and influence the way managers prioritize and do things - the classical view and the socioeconomic view. The classical view "says that management's only social responsibility is to maximize profits". (Robbins etal. 2006, p.161) Milton Friedman (1970 p.6) asserted that "there is one and only one social responsibility of business - to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud." Friedman (1962, 1970) argued that managers' main responsibility is to operate the organization in the interest of the shareholders, the organization's true owners', by increasing financial returns. He reasoned that when managers decide on their own to use the organization's resources for ‘socialgood', they would be adding to the costs of doing business. These additional costs would then be at the expense of the shareholders, resulting in lower profits.

Robbins etal. (2006) also mention that those supporting the classical view fear that too much focus on social goals may dilute economic productivity. As the costs incurred by many socially responsible actions do not cover their costs, profits would be affected and costs would increase. This by no means implies that those who are in favor of the classical view are opposed to organizations becoming socially responsible - they just feel that "the extent of that responsibility is to maximize organizational profits for shareholders". (Robbins etal. 2006 p.161)

However, a major flaw with the classical view is that its focus tends to be on short term profit. A good example would be Manville Corporation in the United States: 50 years ago management decided to conceal information from employees that one of its products, asbestos, caused fatal lung disease. Chest X-rays results from employees were withheld from them. The rationale behind this was being able to save money and increase profits. Although this seemed to work for a short term period, in the long run the company was forced into bankruptcy in 1982 in order to protect itself from the increasing lawsuits in relation to asbestos liabilities. (Robbins etal., 2006) Manville had to set up a US$2.6 billion personal injury settlement trust fund in cash and bonds, and pledge a certain percentage of future profits in 1988 when it emerged from bankruptcy due to the overwhelming claims. As a result, on 1 April 1996 Manville Corporation permanently went out of business, with only the independent trust fund continuing to pay out asbestos settlements in its name....Read more>>