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Page 1: Section II Management Information System (MIS) … information system/Section II... · 2014-12-26 · Management Information System (MIS) Management Articles Compiled by: Spandane

SSeeccttiioonn IIII

MMaannaaggeemmeenntt IInnffoorrmmaattiioonn SSyysstteemm ((MMIISS))

MMaannaaggeemmeenntt AArrttiicclleess

CCoommppiilleedd bbyy:: SSppaannddaannee

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Section II - Preface to Management Articles

1.0 Introduction:

1.1 Whenever I read the word ‘Management’, I remember my college days. We were proud

to learn this subject and all the students would get excited with the lecture. It is only

after joining the Industry, we really understood the subject in right spirit and were

shocked to know the deviation in applying management principles studied earlier.

This first impression of ‘Management’ prompted me to compile ‘Management Articles’

for the benefit of Entrepreneurs, Professionals, Students, Staff and layman.

1.2 There is a general impression that the Management Technique is useful only in Office.

But friends you will agree that it is not so. In every sphere of Life, we need to take the

help of ‘Management Principles’. Typically the picture of ‘BOSS and Subordinate’

comes before our eyes with this word ‘Management’.

1.3 The word ‘Management’ was nicely explained by one of the Authors of Management

books. The word was broken into 3 parts namely MANAGE / MEN/ T. Among all the

factors, managing people / staff/ work force efficiently and effectively assumes highest

importance. One who acquires this technique can become a good ‘Manager.’

1.4 Managing & Leading are not mutually exclusive. Leadership is a quality, which every

Manager must possess to achieve results through assistants. Leadership can be learned.

Effective leadership is the result of concern for the TASK, Individual & TEAM.

1.5 Peter Drucker has defined the word Leader as some one who has followers.

Sir John Harvey-Jones says Leadership is the Art of enabling ordinary people to turn in

extraordinary performance.

1.6 You are aware that experts in managing politicians, government officials, vendors,

customers, union etc. are in great demand all over the world.

1.7 Whenever you think of practically any activity (social, religious, official, entertainment,

function etc.) the word management has a role to play.

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1.8 Management principles are equally applicable at Home, NGO, any Function, Sports,

any Event and Office.

1.9 For becoming a ‘Good Manager’ it is necessary to acquire special skills. Hence I have

compiled these Management Articles to give you bird’s eye view of road map towards

becoming a ‘Good Manager’. It is quite likely that the entrepreneur may be technically

qualified and experienced but unless he has the overall knowledge of Management

Principles, he would face difficulties in successfully carrying out his business, dealing

with staff, consultants, bankers etc. These Management Articles were specially

compiled for the entrepreneur as aid for taking the business to new height. It is quite

likely that every technocrat might not have taken formal management education and

he would learn the subject more from the interaction with his Mangers, consultants and

his experience. With this purpose, I have decided to include a separate section on

Management Articles in this book on Management Information System.

1.10 I will now explain in brief the various Management Articles.

1.11 I sincerely feel that every ‘Management student’ will learn some thing from these

Articles.

2.0 Brief introduction of Management Handouts:

2.1 Analysis of our Behaviour: It is necessary to analyze and correct our own behaviour

before we try to manage people.

2.2 Communication skills: It has been already been mentioned above that Management is

nothing but mange / men / better and hence for the purpose of managing people, It is

also necessary to get acquainted with communication skills.

2.3 SWOT Analysis is very useful analytical tool for analyzing your current situation or for

planning future activities.

2.4 SWOT: Before we make an attempt to comment on anybody’s qualities or defects, it is

necessary to know where we stand. This handout will help you to carry out your

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SWOT Analysis and will also try to discover your personality. Ascertain SWOT in

respect of every point and then make a plan to (1) convert weakness into Strength, (2)

convert Threats in to Opportunities, (3) to convert opportunities in to Strengths.

2.5 Goal Setting-Staff: In the light of SWOT, Staff should be motivated to set proportionate

Goals with time frame. This exercise will benefit the organization in long run.

2.6 Goal Setting-Organization: In the light of SWOT analysis of the Entrepreneur and his

Organization, it is necessary to set proportionate Goals.

2.7 Time frame should be fixed for achieving various Organizational Goals set.

2.8 Planning Cycle will explain the inter relationship between Objectives, SWOT, Plan,

implementation and control.

2.9 Leadership Grid: Every Leader has a concern for his staff and the TASK he has to

achieve. One should analyze his style and make deliberate efforts to move towards

Balanced approach.

2.10 Staff Motivation: The word ‘Motivation’ is combination of 2 words namely ‘Motive’

and ‘Action.’ Motivation is nothing but Goal directed action. These tips can help

mangers to motivate their staff to a large extent. This handout will acquaint you with

various models of dealing with people around you and will also give number of

practical tips to motivate them.

2.11 Team Work: Any organization can not achieve long term success without TEAM

WORK. This fact should be borne in mind by every Manager. Any activity can not be

carried out successfully without ‘Team Work’. This has been nicely explained by one

picture.

2.12 Interpretation of Body Language: This knowledge will give every Manger the

necessary EDGE in dealing with staff, union, customers, vendors, government officials.

2.13 Handwriting & Personality: This analysis along with body language, personal

interview can give useful clue and support the observations about the person.

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2.14 Process of Problem solving: Every Manger would face variety problems day in day

out. You should have firm belief that every problem has a solution. One should go the

root cause of the problem. It is necessary that whenever there is a problem, Manager

should go to “Gemba.” Gemba is a Japanese word, which means “the Real place”.

In other words, it means shop floor /Office or wherever the problem exists.

2.15 Time Management: Time is Money. One has to Save both for achieving success in Life.

Time can’t be stored. Time used judiciously can help you to meet goals set in Life. Time

should be spent proportionately on various activities. Every Manager should set the

example of Time Management before the Staff and the same culture will be followed by

the staff. Time management is the backbone of Success.

2.16 Success Management: Every Manger and his organization will have to decide as to

what is success? What is important is to achieve overall proportionate success.

This handout will explain as to how success can be planned in any activity.

2.17 Failure Management: Success and failure are two sides of same coin. Manager should

not get disheartened with any failure. Failure is the other side of success and it is

equally important to know the real meaning of Failure. One should develop the right

approach to interpret the failure. If it is done in right earnest, then the success is not far

off.

2.18 Marketing: Success of any business largely depends upon Marketing a product.

Various methods of Marketing have been explained in a humorous way.

2.19 Project Report: This handout explains the various issues to be considered in case of a

New Project.

2.20 Project Appraisal: The prime objective of capital investment is to make profit by

way of investing in various capital assets. Similarly the prime objective of the

financier to finance for capital investment is to see that his finance gets proper

return and at end of the contracted period the loan amount is repaid. The Article

covers the various techniques, which are employed to carry out Project

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Appraisal.

2.21 PERT-CPM: For success of any activity, it is necessary to know the various

sub- activities and their inter dependence. This handout will explain the basic

principles of PERT & CPM.

2.22 PERT-CPM Chart: The said technique has been explained with the help of an example.

2.23 Ratio Analysis: A financial ratio is a relationship of two values of financial statements.

Ratios offer help in intra firm comparisons, industry comparison and also for inter-firm

comparison. Financial position of the entity can be studied. This Article will enable the

Manager to keep track of Financial status of the business.

2.24 Funds Flow Statement: One of the most fundamental objectives of business is to make

a profit. Long run survival requires that the business must be able to deal with any

possible liquidity problems which arise in the short term. Basically any business must

be concerned with making a profit and maintaining a solvent financial position.

A full understanding of a business's affairs requires the identification of the changes or

movements in assets, liabilities and capital for a year, and the resultant effect on liquid

resources. A profit & loss account or balance sheet does not specifically disclose this

information. To show the manner in which the operations have been financed, and how

the financial resources have been used.

2.25 Cost of Capital: This concept plays vital role in Project Appraisal. The project which

gives rate of return higher than cost of capital is selected.

2.26 Internal Generation: This concept also plays vital role in Project Appraisal. Internal

Generation is required for appraising the Project irrespective of the fact whether

method of appraisal is Traditional or Time Adjusted method. This figure is also

required for working out Funds Flow Statement. Financial Stability of the business

depends on internal generation.

2.27 Break Even Analysis: Break-even analysis is used to plan the profit & production.

Break-even analysis evaluates and compares the fixed costs and variable costs. Uses of

Break even analysis are many such as knowing the effect of changes in sales mix, to

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determine the volume of sales to earn targeted profits, to decide enhancement of

production of profitable products or to reduce /discontinue the production of low

profitable or loss making products etc.

2.28 Change: We must realize that ‘Change’ is part of Life and also inevitable. Change

should be anticipated and we should mould ourselves for the change and there after

change should be accepted whole heartedly. Then again get ready to ‘Change’.

2.29 Present: Every organization should learn Three ways to use present moments for

success.

2.30 Interesting aspects of life - Warren Buffet: Every Manager must read & follow advice

given by Warren Buffet in an interview on CNBC.

2.31 The success of any organization depends on Human resources. It is in the interest of

any organization to retain sincere, loyal, and efficient employees. Shri Azim Premji, of

Wipro has nicely analyzed this issue of WHY EMPLOYEES LEAVE

ORGANISATIONS? Every Manager must read this handout.

2.32 Vanilla ice-cream!!!: For any business, customer is nothing less than GOD and hence

Never underestimate your Clients' Complaint, no matter how funny it might seem.

Even crazy looking problems are sometimes real and all problems seem to be

Simple only when we find the solution, with cool thinking. Don't just say it is

“IMPOSSIBLE" without putting a sincere effort. Observe the word "IMPOSSIBLE"

carefully. Looking closer you will see, "I'M POSSIBLE". What really matters is your

attitude and your perception.

2.33 Sholay: You are aware that ‘Sholay’ film was super hit probably because of existence of

various principles of management. This handout summarizes the various Principles of

Management in a lucid way.

2.34 Delegation: No Manager can perform without the active support of his staff. Every

Manager must acquire the Art of delegation. Delegation is essential for successful

completion of any job. The Article will show the road map to Delegation.

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2.35 List of Books worth Reading: Reading is indispensable for updating the core

knowledge and to gain out of experience of others. In fact it is the duty of every

professional and businessman to devote some time for reading. With this intention,

I have compiled this list of books worth reading, keeping in mind the availability of

time with the busy businessman and executive. You can also refer to my website

www.spandane.com for abundant material for reading and relaxation. You may also

visit www.feleminds.com for good articles shared by Professionals.

With best wishes.

Spandane

21-07-2010

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Index - Section II - Management Articles

Para No. Subject

1 Analysis of our Behaviour

2 Communication Skills

3 SWOT Analysis

4 SWOT - Self Analysis

5 Goal Setting - Staff

6 Goal Setting – Organization

7 Goal Setting – Organization Term wise

8 Planning Cycle

9 The Leadership Grid

10 Tips – Staff Motivation

11 Team Work

12 Interpretation of Body Language

13 Handwriting & Personality

14 Process of Problem solving

15 Time Management

16 Success Management

17 Failure Management

18 Marketing

19 Project Report

20 Project Appraisal

21 PERT & CPM

22 PERT & CPM Chart

23 Ratio Analysis

24 Funds Flow Statement

25 Cost of Capital

26 Internal Generation: Profit After Tax +Depreciation

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27 Break Even Analysis

28 Management Story – Change

29 Management Story – The Present

30 Management Story - Interesting aspects of life - Warren Buffet... Very Good.

31 Management Story – Managing People

32 Management Story – Vanilla Ice cream

33 Management Story – Sholay

34 Delegation

35 List of Books worth Reading

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01 / Analysis of our Behaviour

1.0 Early Conditioning: 1.1 We all have born under same circumstances with no control on our parents,

place of birth, financial condition. We were neither pessimistic nor

optimistic. We were born with neither good qualities nor bad qualities.

Through exposure to our environment, our parents, teachers, friends and

society in general, we developed mental pictures of ourselves.

Circumstances exert greater influence on our daily conscious activities & us.

1.2 Kindly analyze your behavior while dealing with others. In which slot you

generally find yourself.

I am OK, You are OK I am not OK, You are OK

I am OK, You are Not OK I am not OK, You are Not OK

Blame Self You

are

OK

Co-operative

I am not OK I am OK

Blame Both

You

are

N

ot O

K

Blame Staff

1.3 You should note down your behavior and try to work in I am OK /

You are OK zone.

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2.0 Transactional Analysis Approach of analyzing our behavior. 2.1 (attitude, opinion) Child (feelings, We all inherit 3 ego status such as Parent

emotions) and adult (thoughts, learning)

2.2 All these egos are essential and play vital role in balancing our behavior.

2.3 move in and out of these egos in response to what is going on around We

us.

2.4 , Adult ego makes the decision and Parent

okays the decision of adult.

Child ego wants something

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02 / Communication Skills

1. GOD has given us Eyes & Ears in pair but has given only one mouth. Indirectly

GOD has suggested us that we should observe and listen more but talk less.

Whether we listen to this advice?

2. Communication can be achieved by various means such as facial expression & eye

movements. This is undoubtedly the area of Actors. Never the less we use these

inadvertently in day in day out even without going to any Acting school.

3. However for today’s discussion, I wish to discuss the communication by spoken

words.

4. Can we compare GOD & Communication? The answer is YES.

G stands for Generation (Lord Brahma’s responsibility)

O stands for Observation (Lord Vishnu’s responsibility)

D stands for Destroy (Lord Shiva’s responsibility)

Similarly Communication creates & strengthens relationship and also breaks

relationship.

5. Major part of communication revolves around asking questions to others.

Misunderstanding is unnecessarily created if question is framed incorrectly.

Question should not include expected reply.

Question should not include alternatives.

Generally question should not be framed closed ended. In fact it should be

framed open ended.

6. Communication plays vital role in dealing with customers.

7. We should mean what we say. However we need not say what we mean unless

called for.

8. Communication should express love, empathy, and affection towards others.

9. Communication should not be artificial.

10. Geographical zones should be observed in communication.

11. Let us discuss the following statement.

‘I saw a child playing with Dog.’

Whether the said statement conveys complete information?

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11..00 Communication Style:

11..11 The communication at work place takes place at two levels namely ‘Routine’ and

‘Promotional.’

11..22 The Manager who masters Routine Communication is regarded as ‘efficient’.

11..33 The Manager, who is able to go beyond that, and use communication in a

proactive way, will be ‘effective’.

22..00 Steps to getting your Message across:

Following questions should be addressed before starting process of

communication.

22..11 Which Precise objective to be achieved?

22..22 What action is expected?

22..33 Who should get communication?

22..44 What do they know already?

22..55 What do they now need to know?

22..66 What is the best medium of communication?

22..77 Is the time right?

33..00 Following questions should be addressed before starting process of

communication:

33..11 Will every one receiving the communication have a chance for clarification or

discussion with you?

33..22 Do you have all the information you need?

33..33 How are you prepared for the expected follow up before sending communication?

44..00 Preparing the communication:

44..11 Preparation means writing irrespective of any medium chosen say report,

meeting, memo, discussion, letter etc.

44..22 Form of communication should be simple and free from unnecessary /irrelevant

material/jargons.

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44..33 It should be accurate and correct in all details.

44..44 It should be clear and should not give any scope for misunderstanding.

55..00 Receiving communication:

55..11 It is needless to say that receiving is also part of communication process.

66..00 Listening:

66..11 Listening is not the same as hearing.

66..22 Listening is about what we do with the things we hear.

66..33 Listening is an active process.

77..00 Reading:

77..11 Reading a report or letter is not enough, understanding requires conscious effort.

77..22 Misunderstanding written communication is one of the most costly of all human

errors in Organizational life.

88..00 Written Communication:

88..11 Keep it short and simple. (KISS)

88..22 A Report that is well written and easy to read reflects well on the writer.

88..33 Every person should acquire basic writing skills.

88..44 Follow Report structure: Introduction, Objective, Background, Findings,

Conclusion and Recommendations.

99..00 Stages in writing report:

99..11 Objective should be clear.

99..22 Collect all relevant information.

99..33 Decide the structure.

99..44 Fit the material in to the Plan.

99..55 Test the plan that it confirms to Logic.

99..66 Prepare the first draft.

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99..77 Check the draft and make corrections / additions if any etc.

99..88 Repeat the process till you are satisfied.

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03 / SWOT Analysis

SWOT Analysis is very useful analytical tool for analyzing your current situation or for

planning future activities.

SWOT stands for:

Your Strength

Your Weakness

The Opportunities offered in the market.

The Threats posed in the market.

There are two types of Strengths and Weaknesses.

Visible: The ones other people are aware.

Hidden: the ones other people are not aware of.

SWOT works best when applied to a specific issue rather than in a global, unfocussed

manner.

Use SWOT analysis as a general-purpose tool to attack the problem.

1. Strengths: What are your strengths relevant to the problem? Do others know

them? How can you reveal your hidden strengths?

2. Weaknesses: What are your weaknesses relevant to the problem? Do others

know them? How can you improve them?

3. Opportunities: What opportunities are there?

4. Threats: What threats are there?

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SWOT Plan:

Use the above SWOT analysis to develop a Plan as outlined below:

1. Match the opportunities to your strengths.

2. Make hidden strengths visible.

3. Minimize the threats or turn them into opportunities.

4. Improve visible weaknesses, turn them into strengths.

5. Improve your hidden weaknesses.

Strengths

Weaknesses

Opportunities

Threats

SWOT Self Analysis Chart has been given. Various aspects have been listed in detail.

Kindly ascertain SWOT in respect of every point and then make a plan to (1) convert

weakness into Strength, (2) convert Threats in to Opportunities, (3) to convert

opportunities in to Strengths.

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04 / SWOT - Self Analysis

Name: DOB: Date of Review:

A) PHYSICAL SWOT B) MENTAL SWOT

1 My health 1 Intelligence 2 Height 2 Memory 3 Weight 3 Analytical power 4 Eye sight 4 Understanding power 5 Hearing capacity 5 Grasping power 6 Built 6 Adaptability 7 Any handicap / defect 7 Imagination 8 Personality 8 Interest 9 Well groomed/ dressed 9 Reading habits 10 Do exercise/Yoga daily 10 Relaxation 11 Eat nutritious meal 12 Play sports 13 Get adequate rest C) EMOTIONAL SWOT D) COMMUNICATION

SKILLS SWOT

1 Temperament 1 Languages known 2 Sensitiveness 2 Vocabulary 3 Emotions stronger than head

3 Able to hold attention

4 Getting angry soon 4 Able to maintain eye contact

5 Can analyze emotions 5 Can face any audience 6 Emotional strength 6 Can write well 7 Emotionally growing 7 Can be witty &

humorous

8 Restless? 8 Able to empathy 9 Feel insecure often 9 Able to establish

rapport

10 Can accept a failure? 11 Can accept a mistake? 12 Can bear a catastrophe? 13 Defensive 14 Able to love others

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E) SOCIAL STRENGTHS SWOT F) FINANCIAL SWOT

1 Getting along well with others

1 My financial position

2 Friends circle 2 Income 3 Social contacts 3 Savings 4 Social Acceptability 4 Financial credibility 5 Social respect 5 Financial support-

existing

6 Social interests 6 Financial support - possibilities

7 Good natured 7 Debts 8 Smiling 8 Finance a hindrance 9 Well mannered 10 Helpful 11 Family life 12 Married life 13 Family support / encouragement

14 Social support G) MORALS SWOT H) EDUCATION SWOT

1 Habits 1 Present studies 2 Ethics (in material life) 2 Planning to change 3 Moral values (in personal life)

3 Enjoy my studies

4 Honest? 4 My strengths 5 General norms / standards 5 My knowledge 6 Spiritual growth 6 My teachers 7 Vices 7 Supports / guidance

from others

8 Results 9 Time I spent 10 Desire to study

further

11 Distractions 12 Frustration

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I) ORGANISING CAPACITY SWOT J) OTHER

IMPORTANT TRAITS SWOT

1 Good Administrator? 1 Self- confident? 2 Able to lead? 2 Self respecting? 3 Able to take initiative? 3 Shy / Introvert? 4 Able to guide? 4 Feel governed by

others/ Circumstances?

5 Able to decide fast? 5 Negative thinker? 6 Able to act fast? 6 Ambitious? 7 Bold / Fearless? 7 Have dreams? 8 Over cautious? 8 Have ideals? 9 Take risks? 9 Talents fully

utilized?

10 Accept challenges? 10 Need to be pushed? 11 Dependable? 11 Open minded? 12 Well organized? 12 Believe in self-

development?

13 Punctual / managing time well?

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05 / Goal Setting - Staff

EDUCATIONAL

HEALTH

FINANCIAL

FAMILY

CAREER

SPIRITUAL

SOCIAL

One should set GOALS on above 7 fronts to bring about peace of mind &

happiness in life.

You should set above GOALS on two levels namely Long-range & Short-range.

Your Goal should be like a ‘WHITE’ object, which combines & represents 7 colors

of the RAINBOW.

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06 / Goal Setting - Organization

Research &

Development / Quality Control

Customer

Satisfaction

Financial

Modernization

Professional Management

Suppliers /

Vendors

Expansion

Human

Resources

Social

Obligations

One should set GOALS on above 9 fronts for organization’s success. You should set above GOALS on two levels namely Long-range & Short-range. Your Goal should be like a ‘WHITE’ object, which combines & represents colors of The RAINBOW.

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07 / Goal Setting – Organization Term wise

Sr. No.

Goal Short Term Medium Term Long Term

1.0 Professional Management: 1.1 1.2 1.3 1.4 1.5

Sr. No.

Goal Short Term Medium Term Long Term

2.0 Financial: 2.1 2.2 2.3 2.4 2.5

Sr. No.

Goal Short Term Medium Term Long Term

3.0 Expansion: 3.1 3.2 3.3 3.4 3.5

Sr. No.

Goal Short Term Medium Term Long Term

4.0 Modernization: 4.1 4.2 4.3 4.4 4.5

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Sr. No.

Goal Short Term Medium Term Long Term

5.0 Research & Development / Quality Control:

5.1 5.2 5.3 5.4 5.5

Sr. No.

Goal Short Term Medium Term Long Term

6.0 Customer Satisfaction: 6.1 6.2 6.3 6.4 6.5

Sr. No.

Goal Short Term Medium Term Long Term

7.0 Human Resources: 7.1 7.2 7.3 7.4 7.5

Sr. No.

Goal Short Term Medium Term Long Term

8.0 Suppliers / Vendors: 8.1 8.2 8.3 8.4 8.5

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Sr. No.

Goal Short Term Medium Term Long Term

9.0 Social Obligations: 9.1 9.2 9.3 9.4 9.5

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Sr. No.

Goal Short Term Medium Term Long Term

9.0 Social Obligations: 9.1 9.2 9.3 9.4 9.5

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08 / Planning Cycle

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09 / The Leadership Grid

Accommodating

Sound

Balance & Compromise

Indifferent

Controlling

X Axis Y Axis Y Axis Concern for People X Axis Concern for results (TASK)

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Y Axis Concern for People X Axis Concern for results (TASK)

Controlling Accommodating Balance & Compromise Indifferent Sound

What is Leadership?

Peter Drucker: The only definition of a leader is some one who has followers.

Sir John Harvey-Jones: Leadership is the Art of enabling ordinary people to turn in extraordinary performance.

Managers & Leaders.

Managing & Leading are not mutually exclusive. Leadership is a quality, which every Manager must possess to achieve results through

assistants. Leadership can be learned. Effective leadership is the result of concern for the TASK, Individual & TEAM.

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10 / Tips – Staff Motivation

The word ‘Motivation’ is combination of 2 words namely ‘Motive’ and ‘Action.’

Motivation is nothing but Goal directed action. Motive without action is of no use.

Similarly action without motive makes no sense.

I have made an attempt to give few tips for staff Motivation based on my experience in

this field. I do not claim that this is the exhaustive study of the subject. However I am

confident that these tips can help mangers to motivate their staff to a large extent.

1.0 Know your Self:

1.1 Unless you know your self it is not possible to judge others.

1.2 Carry out SWOT analysis of your self.

1.3 Analyze your behavior.

Blame Self

You

are

OK

Co-operative

I am not OK I am OK

Blame Both

You

are

Not

OK

Blame Staff

1.4 You should note down your behavior and try to work in I am OK / You are OK

zone.

2.0 Know your Staff:

2.1 Our life is nothing but interaction of various circles. We know each other only to

the extent of intersection of these circles.

2.2 Carry out SWOT analysis of your staff.

2.3 Also relevant data of each staff such as first name, birthday, marriage

anniversary, hobbies, family background, children, likes & dislikes, capabilities,

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talent etc. should be noted.

2.4 People like to be called by first name.

3.0 Match People & Job:

3.1 We have all played toy game of putting round pegs in round holes and square

pegs in square slot. We should now recapitulate this game.

3.2 Every person has a specific role to play in the organization and each role carries

equal importance in relevant category.

3.3 This is possible only if we know our staff as outlined above.

3.4 This factor also plays important role in success of any film, drama or winning of

cricket match.

4.0 Learn how people learn:

4.1 We all learn from our experience as well as experience of others simply by

observation or by listening / reading.

4.2 Encourage staff to learn from experience. They should be motivated to analyze &

learn from the job.

5.0 Communicate effectively:

5.1 Listener should understand the same thing what you intend to inform.

5.2 Just read this statement. “I saw a child playing with the dog.” Whether it

conveys complete information.

5.3 Attention should be given to choice of words, pronunciation, non-verbal signals

of the listener.

5.4 We all inherit 3 ego status such as Parent (attitude, opinion) Child (feelings,

emotions) and adult (thoughts, learning)

5.5 All these egos are essential and play vital role in balancing our behavior.

5.6 We move in and out of these egos in response to what is going on around us.

6.0 Induct New Recruits: 6.1 In Today’s era new recruitment is greatly reduced. Staff whether newly recruited

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or transferred from other branch, office etc. should be given adequate orientation

and job should be allotted considering his previous experience and his long-term

career.

7.0 Pay attention to your Staff:

7.1 Psychologists call this as ‘stroking.’

7.2 Establish face-to-face contact.

7.3 Greet the staff.

7.4 Practice MBWA. (Management by walking about)

8.0 Delegate for development:

8.1 Delegate the job and necessary authority but not accountability.

8.2 Decide what is to be delegated? Complete job or part of it?

8.3 To whom it should be delegated? (Remember SWOT)

9.0 Coach:

9.1 Help people to learn by asking constructive questions.

10.0 Give Credit:

10.1 Every one likes appreciation.

10.2 Credit should be given at all levels.

10.3 It should be kept personal but made public.

11.0 Give feedback:

11.1 Feedback – positive or negative should be given personally.

11.2 Motive of giving feedback should be clear. It should benefit the recipient.

12.0 Mentoring / Sponsorship:

12.1 Senior members of the staff or managers of other department can do counseling

of junior staff for their long-term career development.

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13.0 Prepare for Promotion:

13.1 Generally people are promoted because they perform well in the job they do now

instead of assessing potential for the job they are being considered for.

13.2 During leave, transfer staff can be given temporary promotion to gain

experience.

14.0 Stretch Abilities:

14.1 Many persons have various hidden qualities and likings such as writing skills,

photography, teaching etc. Locate these qualities and give them an opportunity

to use these qualities for the organization.

15.0 Take calculated Risks:

15.1 There is an inherent tendency on the part of many executives to over supervise

because failure / mistakes of the staff are feared to reflect badly on supervisor.

15.2 Develop positive attitude towards mistakes by using them as learning

opportunity for giving feedback and coaching.

15.3 Fear of staff committing mistakes is many times due to poor level of instructions

and leadership on the part of Manager.

16.0 Be Flexible:

16.1 Once you explain the job to be done and given guidance on how to go about

doing it, do not insist to follow the same in Toto. Allow flexibility & freedom for

executing the job.

16.2 Nevertheless watch and review the progress so that end results will be of

expected quality.

16.3 Flexible working hours, removing petty restrictions etc. may be considered.

17.0 Be an Example:

17.1 You should act like a role model. Staff should get motivation by your action &

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behavior.

17.2 You should be particular about Time management, attendance, keeping touch

with office even during vacation, sharing your mistakes and demonstrate how to

learn etc.

Motivation:

1.0 Introduction:

1.1 The word Management means manage /men / better.

1.2 No job can be done without active support of others and hence for successful

completion of any job people need to be motivated at every level and is a continuous

process.

1.3 Motivation is largely about people’s attitude to work.

1.4 Every manager should develop personal style of leadership & motivation.

2.0 Theories of Motivation:

2.1 Abraham Maslow:

Abraham Maslow laid down 5 levels of needs:

i Physiological: Food. Air, water

ii Safety: Shelter, security.

iii Social: being part of a friendly, supporting group.

iv Esteem: having the respect of others, independence, status, pride.

v Self-fulfillment: realizing one’s potential, doing what one does best and loves doing.

2.2 Douglas MacGregor:

He has suggested two approaches to getting results from groups of people.

i Theory X is based on the belief that people have a natural dislike of work and have to

be coerced, controlled and directed before they will make any efforts.

ii Theory Y suggests that work is a natural part of life and people do not have to be

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forced or threatened in order to work.

iii However, they need to be:

a Committed to what they are doing.

b Given recognition for the contribution they make.

c Allowed to retain their dignity and self-respect.

d Given the maximum freedom possible to get on with the job as they see best.

2.3 Frederick Herzberg:

i Hygiene factors: These factors create serious motivational problems when not dealt

properly.

ii The organization's policy and administration.

iii Supervision and control.

iv Working conditions, pay and status.

2.4 Motivators are series of things that have a positive and ever lasting effect on

motivation.

2.5 Achievement: most people get considerable pleasure and satisfaction from knowing

that they have made a useful contribution.

2.6 Recognition: It is natural that people to expect recognition for their achievement and

good work done by them.

2.7 The Job itself: Use of knowledge, intelligence and skill to do a good job.

2.8 Advancement: People welcome challenge and want to move on to new things.

2.9 Responsibility: Most people like to shoulder responsibility and grow well if given.

3.0 GGeettttiinngg rreessuullttss ffrroomm ppeeooppllee // Practical thoughts on Motivation:

3.1 Make sure that staff knows in clear terms as to what is expected of them.

3.2 Goals and objectives should be set covering following 4 elements:

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Measurable: Quality and quantity vis-à-vis standards / Achievable / Challenging /

Time bound.

3.3 Goals should be reduced to ‘writing’.

3.4 Set the required Standards.

3.5 Proper allocation of work. If not done properly will generate de-motivating effect.

3.6 Invite suggestions.

3.7 Discipline.

3.8 Employment Laws.

3.9 Decision-making.

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12 / Interpretation of Body Language

A Introduction: 1 GOD has given us Eyes & Ears in pair but has given only one mouth.

Indirectly GOD has suggested us that we should observe and listen more but

talk less. Whether we listen to this advice?

2 Communication can be achieved by various means such as facial expression,

eye movements and body language. This is undoubtedly the area of Actors.

Never the less we use these forms of expression inadvertently in day in day

out even without going to any Acting school. It may please be noted that

Body Language by itself tells only part of the story. You should co-relate

the observations with other signals before drawing firm conclusion.

3 If we observe body language at the time of listening, one can judge the

sincerity of the speaker.

4 Incidentally can we compare GOD & Communication? The answer is YES.

G stands for Generation (Lord Brahma’s responsibility)

O stands for Observation (Lord Vishnu’s responsibility)

D stands for Destroy (Lord Shiva’s responsibility)

Similarly Communication in any form creates & strengthens relationship

and also breaks relationship.

5 Communication with proper body language plays vital role in dealing with

officials, customers, family members, superiors, younger generation etc.

In private, public and professional life, body language is a major means of

human communication.

6 Our body language and communication should convey same meaning for

better results.

7 Geographical zones should be observed in body language.

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8 In order to understand the person, it is necessary to listen to him carefully.

At the same time his body language should be observed. This should be

supported by analyzing hand writing (Graphology).

9 The said subject is very complex but at the same time very interesting.

You will agree that we all observe body postures but rarely try to analyze the

same further. Some how I formed this habit since my young age. I call this

habit as ‘reading into it, out of it and in between.’

10 I have outlined few Tips for your perusal. I expect you to read the same

carefully and start observing people and make your own observation sheet.

However be cautious, self critical and modest in judging others. In fact

start this exercise from yourself. Start observing your own body signals

while talking with others and interpret them. Initially start observing

various parts individually.

11 What is the meaning of Body Language?

It is nothing but the language of signals. A person expresses his feelings,

thoughts etc. not only in written and spoken words but also by gestures,

movements. A person is not even aware when he conveys by body signals.

12 You have to be both observer and interpreter for understanding your own

and other person’s body language.

13 One can hide his emotions, thoughts or say lie but it is impossible to do this

with body language.

14 Postures also depend on physical factors. e.g. Shoe biting, pain in the legs,

bone fracture, muscle pain etc.

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B Different parts of the body which give signals are listed below:

Part of the body

1.0 Eyes: Interpretation 1.1 Normal Receive all incoming images. 1.2 Wide open eyes Joy, fright, surprises. 1.3 Veiled eyes Boredom, disinterest 1.4 Slit eyes Extreme mental concentration, narrow minded,

overcritical etc 1.5 Closed eyes Protective if only for a movement. Other wise no outer

impressions are wanted. Such position is also observed at the time of listening music or enjoying food.

1.6 Wink Unreliable, distrust, Pushy or dishonest person winks excessively.

1.7 Screwed up eyes Fear, reluctance, displeasure. 1.8 Blinking This is rapid and repetitive involuntary movement of

the eyelids. It conveys embarrassment, insecurity or tension.

2.0 Look: Interpretation 2.1 Looking away

when speaking Not sure of their opinion.

2.2 Looking at others Support the validity of what they say, competent. 2.3 Direct Look Undivided attention 2.4 Vacant Look He talks round about other people and the subject. 2.5 Look from below Subordination. 2.6 Look from above Superiority, pride and arrogance. 2.7 Sidelong Glance Reserve, distrust. 2.8 Look towards the

sky Desire to avoid uncomfortable situation, request for help, payer, devotion, complete self abandon.

3.0 Nose & Mouth: Interpretation 3.1 Wrinkling your

nose Reluctance, displeasure, aversion, person has already agreed to suffer something.

3.2 Pouting Highly perceptive and very sensitive. Protesting spout conveys dislike of situation.

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4.0 Lips: Interpretation 4.1 Pressed Lips Disagreement. Raised chin simultaneously signals

aggression. A lowered forehead shows the other person is a total enemy.

4.2 Pursed Lips Fixed views, arrogance. 4.3 Biting your Lips Lack of self confidence, embarrassment. 4.4 Raised Mouth Optimistic 4.5 Straight Mouth Such face is put if someone does not want to show

ignorance. 4.6 Turned down

Mouth Negative tendency, lack of spontaneity, low mental state.

4.7 Asymmetrical Mouth

Disapproval and reluctant acceptance of a situation.

5.0 Laugh & Smile: Interpretation 5.1 HA - HA Free, open and hearty 5.2 HE - HE Laugh about somebody, something. 5.3 HEE - HEE Irony 5.4 HO - HO Surprise, 5.5 Smirk Smirk is a form of laughter with lips pressed together.

The person holds himself back and is not willing to give his unconditional affection.

6.0 Hands: Interpretation 6.1 Open Hands Trust others and interested in their opinions. 6.2 Covered Hands Concealing feelings, covering insecurity 6.3 Clinging Hands Confused and insecure persons cling to files, tables,

chairs, bag etc. 6.4 Twisted Hands Complex personality, difficult emotional life.

7.0 Fingers: Interpretation 7.1 Thumb Powerful action 7.2 Clenched Fists The fist is always forceful, a positive or negative

meaning. 7.3 Upward Thumb Sign of authority, encouragement to others.

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7.4 Upward Index finger

Self opinionated, strictness.

7.5 Lowered Index finger

Tapping vigorously on the table is dominating. Wants to emphasize something.

7.6 Pointed Index finger

Pointed forward indicates aggression.

7.7 Index finger on Lips

Conceal, helplessness, to overcome insecurity.

7.8 Index finger across mouth

Wants to shut his mouth.

7.9 Rubbing Lips with Index fingers

This is a sign of a very big lie.

7.10 Index finger in mouth

Simplicity, ignorance, stupidity

7.11 Index fingertips meeting

Self confidence, tendency towards arrogance.

7.12 Rubbing fingertips Fear of confrontation.

8.0 Legs: Interpretation 8.1 Slightly spread

apart Self confidence

8.2 Wide apart Eagerness to impress 8.3 Very close together Fear and tension 8.4 Crossed Legs Several contradictory feelings, defensive attitude but

readiness to contact, newcomer.

9.0 Feet: Interpretation 9.1 Parallel Attentiveness 9.2 Turned inwards Insecurity 9.3 Turned outwards Self confidence

10.0 Seated Person: Interpretation Women sit differently from men. Seated person can show more about his inner feelings

against his mind control. 10.1 Closed Legs, Legs parallel, knees & ankles touching, clasping the armrest of a

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chair, sitting on edge of a chair, looking down to the floor, resting your hands on your knees.

Anxiety, tense, defensive, lack of self-confidence. 10.2 Crossed Legs Natural self confidence, demonstrates equality. 10.3 Wrapping around

the chair Strong inner tension, feel uncomfortable or even helpless in the presence of others.

10.4 Sitting on only half of the chair as a result of active movements during discussion.

Impression is positive. 10.5 Sitting on the whole chair with one leg moved forward and a bent torso.

Open minded ness & understanding. 10.6 Sitting on the whole chair with the torso leaning backwards.

Inflated self confidence, lack of decorum.

11.0 Geographic zone: 11.1 All of us need space. Keeping our distance plays an important role in our

everyday relations and dealings with others. 11.2 Closed regions Approx. Distance to be kept from the person.

Intimate 0 to maximum 2 ft. Personal 2 ft to 5 ft.

11.3 Distant regions Social 5 ft to 10 ft Public 10 ft to 25 ft

C Tips –Understanding body language and identifying the type of person?

1.0 How to identify Openness attitude of a person? 1.1 He will generally talk with open hands. 1.2 He keeps his arms gently crossed lower body. 1.3 He generally moves closer with the other counterpart while talking. 1.4 He generally leans forward. 1.5 He would keep uncrossed legs. 1.6 He would take his coat off at the time of discussion.

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2.0 How to identify as to whether a person is Enthusiastic? 2.1 He would have erect body stance. 2.2 He would throw his hands open & arms extended while talking. 2.3 His eyes would be wide open & alert. 2.4 He would be lively & bouncy in his behaviour. 2.5 His voice culture would be lively & well modulated.

3.0 How to identify as to whether a person is Defensiveness? 3.1 A person with rigid body. 3.2 A person who likes to keep his arms & legs crossed tightly. 3.3 A person who offers minimal eye contact with the other party. 3.4 He likes to lean back in chair. 3.5 He usually keeps his head down with chin depressed towards chest. 3.6 He will have clenched fists. 3.7 He would have pursed lips. 3.8 He would clench crossed arms with fingers.

4.0 How to identify as to whether a person is of Angry nature? 4.1 A person with rigid body. 4.2 He keeps his lips closed. 4.3 He has the habit of squinting eyes. 4.4 He does shallow breathing. 4.5 He keeps continued eye contact with dilation of pupils. 4.6 He will have clenched fists.

5.0 How to identify as to whether a person has readiness attitude? 5.1 He leans forward while sitting. 5.2 He would place his hands high. 5.3 He would be relaxed. 5.4 He would stand with hands on hips and feet slightly spread.

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6.0 How to identify as to whether a person is of Evaluating type? 6.1 He would keep his head slightly tilted. 6.2 He would have hand to cheek gesture. 6.3 He would sit in front portion of chair with upper torso forward. 6.4 He would like to stroke his chin.

7.0 How to identify Nervousness of a person? 7.1 He would try to clear his throat. 7.2 He would do hand to mouth movements. 7.3 He would cover his mouth while speaking. 7.4 He would start playing with some objects. 7.5 He would do tugging at ear. 7.6 He would look with darting eyes. 7.7 He would twitch lips or face. 7.8 His mouth would be slightly open. 7.9 He would shift weights while standing. 7.10 He would tap his fingers. 7.11 He would wave his foot. 7.12 He would whistle.

8.0 How to identify Suspicion / Secrecy? 8.1 He would glance sideways at you. 8.2 He would fail to make eye contact or resisting your glances 8.3 He would rub or touch his nose.

9.0 How to identify Rejection / Doubt? 9.1 He would resort to hand rubbing or ear-tugging. 9.2 He would rub eyes. 9.3 He would touch & rub his nose. 9.4 He would try clear his throat. 9.5 He would raise eyebrows. 9.6 He would keep arms & legs crossed.

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10.0 How to identify Confidence / Authority? 10.1 He would keep his hands higher while discussion. 10.2 He would lean back with hands laced behind head. 10.3 He would rest his feet on the desk. 10.4 He would display proud erect body stance with chin forward. 10.5 He would maintain continuous eye contact with little blinking.

11.0 How to identify Reassurance? 11.1 A person would gently rub or caress some personal object-ring, watch.

12.0 How to identify Frustration of a person? 12.1 He would have tightly clenched hands or shaking fists. 12.2 He would rub back of neck. 12.3 He would do controlled short breathing. 12.4 He would stare blindly. 12.5 He would run his hands through hair. 12.6 He would stamp his foot.

13.0 How to identify as to whether a person is Bored / Indifferent? 13.1 He would keep his head in hand. 13.2 He would have drooping eyelids. 13.3 He would have relaxed postures. 13.4 He would start tapping foot, fingers. 13.5 He would offer blank stares and do little eye contact.

14.0 How to identify Acceptance of a person? 14.1 He would move closer to other person. 14.2 He would spread hands held to chest.

It may please be noted that Body Language by itself only tells part of the story. You

should co-relate this with other signals before drawing firm conclusion.

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13 / Handwriting & Personality

No. 1.0 The various observations should be read in the light of following facts.

1.1 Communication can be achieved by various means such as facial expressions,

eye movements and body language along with speech and writing.

1.2 You will be surprised that even our writing reveals our personalities,

sincerity and outlook. However our hand writing by itself tells only part of

the story. You should co-relate this with other signals before drawing firm

conclusions.

1.3 Communication through letters play vital role in dealing with customers.

1.4 We should always mean what we write. However we need not write what we

mean unless called for.

1.5 Our handwriting varies according to age, education, mental moods,

experience in life and hence observations will also vary from time to time.

Hence Observations based on single sample may not bring out all

characteristics of the writer.

1.6 This exercise should preferably be done before meeting the writer.

1.7 Nevertheless the qualities or otherwise observed in personal meetings do get

confirmation from the handwriting.

1.8 Interpretations should be recorded against each and every aspect of hand

writing described below and then overall conclusion about personality can be

attempted.

1.9 Handwriting reflects the genuine attitude of the Author.

1.10 Signature reflects what he wants the outside world to think of him.

It is a declaration of the writer’s personality-self image.

1.11 This subject is very complex and needs continuous practice. But still the

subject is very interesting and useful to understand the person. This analysis

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along with body language, personal interview can give useful clue and

support the observations about the person. With this objective in mind, I have

compiled Interpretation Tips for you to try. My experience in interpretation is

quite encouraging.

1.12 Writer should be asked to write on blank paper and as per his usual speed.

1.13 This technique is widely abroad for recruitment, prolonged illness, treating

mental sickness, Police investigations etc.

1.14 You will agree that we all come across good and bad hand writing but rarely

try to analyze the same further. The Topic is very interesting. Some how

I formed this habit since my young age. I call this habit as ‘reading into it, out

of it and in between the lines.’

2.0 Size: Interpretation 2.1 Large writing Sign of ambition; desire to think big, such writer is

usually successful. 2.2 Small writing Sense of reality, concentration, self confidence, tends

to be modest, writer does not like publicity. 2.3 Round Flexibility & adaptability to situation. 2.4 Narrow Economic outlook, self control, narrow vision and

aims. 2.5 Full Active in imagination, likes freedom. 2.6 Wide Good tolerance, initiative, spontaneous.

3.0 Line direction: Interpretation 3.1 Upward Optimist outlook, do not allow external factors to

affect the mood & hopes. 3.2 Downward Pessimist outlook, overworked, feeling of dragged

down.

4.0 Spacing: Interpretation 4.1 Line spacing:

Narrow Line spacing Writer is not well organized, lack of clarity of thoughts.

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4.2 Word spacing: Wide word spacing Clear mind, do not mix easily Narrow word spacing Writer likes people around him.

5.0 Slant: Interpretation 5.1 Vertical Writer is ruled by the head, self controlled, lives in

the present, neutral attitude towards life, calm personality.

5.2 Right Lives in future, natural personality, extrovert, like to mix with people, take active part in life.

5.3 Left Introvert, lives in the past, writer likes to stay in his own shell, hides emotions.

5.4 Varying Unpredictable person, swinging moods, experiments with all thoughts and ideas.

6.0 Regularity & irregularity

Interpretation

6.1 Regularity means maintenance of a constant slant, height & pressure in letters. Regularity Good will power, control on emotions, thoughts,

requires calm & orderly life. 6.2 Irregularity is noted by the fluctuations in height, slant and pressure in letters.

Irregularity Poor will power, lacks control on emotions, thoughts, lack of discipline, unable to decide the goal.

7.0 Connective Forms: Interpretation 7.1 Connective form is the manner in which the letters are connected to each

other. There are 4 connectives namely garland, arcade, angularity and thread. 7.2 Garland Friendly, receptive, kind, lack aggression. 7.3 Arcade Does not disclose the mind, offers formal face, takes

his own decision. 7.4 Angles Firmness of mind, strong mind, tense,

uncompromising attitude. 7.5 Thread Do not possess ability to take decisions, uncertain,

insecure.

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8.0 Tempo: Interpretation 8.1 Speedy writing Fast action, speedy thoughts, speedy decisions. 8.2 Slow writing Caution, slow in action and decision making.

9.0 Pressure: Interpretation 9.1 Uneven Poor physical and mental health, inner conflicts. 9.2 Sharp @ Cold nature, good critic etc. 9.3 Light Sensitive nature, spiritual interests, dislike

unpleasant things of life, stamina could be low. 9.4 Heavy @ Forceful personality, originality, frustration, writer is

full of energy. @ Interpretation depends upon its combination with other factors. Hand writing specimen paper should be reviewed from back side to judge the

pressure. 10.0 Zones: Interpretation 10.1 Handwriting is divided into 3 zones namely Upper, Middle and Lower. 10.2 Upper Zone It includes upper loops of the small letters b, d, f, h,

k, l and t, i dots and t bars. It indicates intelligence, imagination, spiritual

interests. i dots Attention towards details. t bars Vitality, enthusiasm, domination, will power.

10.3 Middle Zone It includes small letters which have no upper loops such as a, c, e, i, m, n, o, r, s, u, v, w and x.

Ego expression, social relationships, 10.4 Lower Zone It includes lower loops of f, g, j, p, q, y and z.

Material desire, instincts etc. 10.5 All zones equal Good sense of proportion. 10.6 Upper zone large,

middle & lower zones small

Writer usually aims high and hard working. Social confidence and business sense is generally little.

10.7 Upper and lower zones large, middle zone small

Writer’s high ambition is also matched by physical stamina and good business sense, not happy with success and always on look out for something more.

10.8 Lower zone large, middle zone average, upper zone small

Writer is generally down to earth, good business sense.

10.9 Middle and lower Writer is socially self confident, good business sense.

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zones large, upper zone small

Acts according to instincts.

10.10 Upper and middle zones large, lower zone small.

Writer’s personality can be shallow, sign of great ambition and self confidence.

10.11 Middle zone large, upper and lower zones small.

Writer lives in the present, enjoy gossip, not over interested in making money.

11.0 Margins: Interpretation 11.1 Left margin

No left margin Lacks self confidence, writer likes to remain in past memories.

Large left margin He has overcome his background and can be successful on his own.

11.2 Right No right margin Writer is involved with everyone and everything

around him. Wide right margin Writer fears the future and does not want to face up

to it. 11.3 Wide margin all

around Artistic nature.

11.4 No margins Writer could be economical, no artistic sense. 11.3 Top margin Degree of respect to the addressee.

Narrow upper margin Writer does not keep distance from superiors; dislike formality, lack of respect for others, high ambition.

Large upper margin Writer may have low self opinion, pessimist. 11.4 Bottom Writer’s instincts and material demands.

12.0 Width: Interpretation 12.1 Narrow Holds restricted views, well disciplines, shyness,

economical in approach 12.2 Broad Likes elbow room to think and move freely, prefers

to travel.

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13.0 Connections: Interpretation 13.1 Connected letters Writer mixes well with other people, conversation

flows easily. 13.2 Disconnected letters Writer concentrates on detail; writer can be brilliant

and can come up with original ideas.

14.0 Signature: Interpretation 14.1 Signature smaller than

text writing Writer wishes to be thought more modest.

14.2 Signature larger than text writing

Writer pretends to be bigger personality than he thinks he really is.

14.3 Signature and text looks different

Writer wants to protect himself.

14.4 Placement Writer’s mood.

15.0 Rhythm: Interpretation 15.1 Rhythm in handwriting is the total display of the script. It reveals the degree of

the writer’s integration.

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14 / Few Points to ponder in respect of Problem Solving:

1. Have a firm belief that every problem has a solution. 2. Define the problem precisely. 3. Using ‘Brain’ rather than ‘heart’ should solve problem. 4. Generally solution to the Problem lies in the Problem itself. 5. Collection of unbiased data is a prerequisite to Problem solving. 6. Analyze the data. 7. Study cause & effect relationship. Pinpoint absence of relationship if any. 8. Analyze every factor without relying on any prior knowledge / facts. 9. Try to reach grass root of the problem. 10. Look at the problem from different angles. 11. It is necessary that whenever there is a problem, you should go to

“Gemba” Gemba is a Japanese word, which means “the real place”.

In other words, it means shop floor.

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15 / Time Management

Preface

Time is Money. Save both for achieving success in life. Time can’t be stored. Time used judiciously can help you to meet goals set in life. Time should be spent proportionately on various activities. It is unfortunate that younger generation is not very serious about Time Management.

At every stage one must realize what is the call of the day? What are his priorities in life? What are his duties and responsibilities? What are his social obligations? How he is spending TIME at present?

In the light of above background, we will proceed towards easy steps for doing

Effective Time Management.

Set your Goals

It is necessary that one must set his destination / goals in life based on his capabilities, family background, and mental frame.

In short one must do what is called SWOT analysis.

How TIME is spent now?

It is necessary to undergo self analysis of how time is spent. Keep a diary to note down how time was spent daily for at least one fortnight /

month. Analyze and draw conclusion about future course of action.

Prepare Time Table

Prepare Time Table after allotting Time for every activity in the light of goal setting

done earlier. Develop Time consciousness.

Non-Essential Activities.

Based on current time utilization and goal to be achieved, decide on non-essential activities.

One must acquire the knowledge of ‘What not to do.’

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Delegate

One must know: What to delegate? & Whom to delegate?

Decide Priorities

Postpone / defer the activities which can wait. Differentiate between important and urgent activities. Try to spend TIME according to Priorities set.

Set deadlines on daily basis

Planning should be done on daily basis. Divide your Day with deadlines.

Action

Now is the Time for action. Decide and do it.

Speed

Set your own Speed Limit. Try to do everything rapidly. Understand ‘Peter’s principle.’

Skills

Develop personal and Managerial skills.

Self discipline

Get well organized. Discipline yourself. Efforts should be persistent, disciplined and organized.

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Goal

One should always set a noble goal in life & make an all out efforts to achieve it.

Magic Every one is bestowed with magic stick realization of which is essential for success in life.

Self realization

Your success in life depends on realization of one’s limitations.

Punctuality

Your success in life depends on doing RIGHT thing at a right TIME.

Speed Limit

We should select our own speed limit for reaching our goals in life.

Race

Slow and steady approach wins the race.

Work Ethics

One should concentrate on one matter at a time.

QUIT

One should know when to stop.

Relaxation

One should know the art of relaxation.

Balance

We must remember that there are few things beyond cost and benefit.

Pack up

Nobody knows as to when you will get the invitation to visit the heaven.

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Expectations from Readers:

You will appreciate that GOD has given 24 hours to everyone. It is the Time

Management that decides as to who will succeed in Life.

Time management is an ART which can be mastered by anyone based on his inclination.

You have one thing in common with all Successful People “1440 minutes a Day.”

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16 / Success Management

Preface

What is success? Reply will vary from person to person. What is important is to achieve overall proportionate success. Lopsided success in any one or two matters can’t bring happiness & peace of mind.

Success Formula

Success = Basic intelligence x Hard work x Luck. Basic intelligence can be found out as well as it can be measured / estimated. Luck element is known within few years of birth. Ability to do hard work lies with everyone, what is required is desire.

Life goal / objective

One should set goal to be achieved based on his family background, qualities, limitations, luck etc. It is needless to say that even in spite of any adverse factors, one should try to set lofty goal and should make all out efforts to achieve the same.

Magic stick

Everyone is bestowed with magic stick and his success depends on realization of same. Once you realize your true potential, you should use the same in right direction.

Discriminate

One should learn to differentiate between: Important & unimportant matters. What is good for him and otherwise? Priority and non-priority matters.

Sincerity & devotion

Any work should be done with utmost sincerity and devotion. Material reward should take a back seat. Enjoy the joy of sincere work.

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Skill

To become expert in any field of human activity requires dedicated practice… practice… practice. Even after achieving expertise, one must constantly sharpen our knowledge & skills.

Overcome difficulties

Don’t be afraid of problems. Please remember that this world is not made for your enjoyment but for giving you experience. Success can’t be achieved without encountering problems.

Meditation

Believe in the power of Almighty God by whatever name called. Say to yourself that Today was better than yesterday. In case of any difficulty pray to God to give courage & will power to fight with adversity.

Open approach

Open approach helps in life. Try to look at the world with correct perspective.

Positive Attitude

Try to develop positive attitude in life. Remove negatives from your mental dictionary. Instead of saying ‘I cannot’, say ‘I can’ and experience the difference.

Action

Now is the Time to Act. Do not postpone / put it off. Do it Now. What can be done Today should be done Today only.

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17 / Failure Management

Preface –Failure

Failure -seven letter word, everyone is afraid of because:

F means frustration. A means agony. I means insults. L means loss of initiative. U means more inputs. R means restless feeling. E means energy loss.

After all success and failure are two sides of same coin.

If any viewer gets inspiration to fight back, I will feel that my efforts are rewarded.

------------------------------------------------------- Failure doesn’t mean--- You are a failure,

Failure means-- You have not succeeded.

------------------------------------------------------ Failure doesn’t mean--- You accomplished nothing,

Failure means-- You have learned something.

------------------------------------------------------ Failure doesn’t mean--- You have been a fool,

Failure means-- You had a lot of faith.

------------------------------------------------------ Failure doesn’t mean--- You’ve been disgraced,

Failure means-- You were willing to try.

-----------------------------------------------------

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Failure doesn’t mean--- You don’t have it,

Failure means-- You have to do something in a different way.

------------------------------------------------------------------- Failure doesn’t mean--- You are inferior,

Failure means-- You are not perfect.

------------------------------------------------------------------- Failure doesn’t mean--- You have wasted your life,

Failure means-- You have a reason to start afresh.

---------------------------------------------------------------------- Failure doesn’t mean--- You should give up,

Failure means-- You must try harder.

---------------------------------------------------------------------- Failure doesn’t mean--- You will never make it,

Failure means-- It will take a litter longer.

---------------------------------------------------------------------- Failure doesn’t mean--- God has abandoned you,

Failure means-- God has a better way for you.

----------------------------------------------------------------------

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19 / Project Report

Sr. No. Introduction:

1.1 Purpose for compiling Project Report:

Banks and Financial Institutions grant Term loans to the Industrial units for

acquisition of fixed assets for the purpose of running the organization.

The Bank tries to ensure the safety of their funds by careful analysis of the project

with special reference to successful completion and continued ability of the unit to

earn a surplus to meet the repayment obligations.

1.2 Banks / Financial Institutions try to ascertain the following:

a Technical feasibility

b Economic viability

c Financial viability

d Managerial competence

2.0 Project Report should give information about the company:

2.01 Name

2.02 Constitution

2.03 Date /Year of establishment

2.04 Telephone no./ Fax no.

2.05 Office

2.06 Factory

2.07 Godown

2.08 Existing Bankers and limit enjoyed.

2.09 Reason for change to Bank.

2.10 Term Loan / CC limit required

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3.0 Technical feasibility:

A Infrastructure:

1 Location advantages.

2 Transport facility

3 Nearness to market

4 Availability of raw material

5 Availability of power / fuel

6 Availability of water

7 Availability of skilled labour

8 Government incentives

9 Availability of communication network

B Land & Building:

1 Type of accommodation- ownership / rental

2 Area requirement

3 Whether Land or Factory Shed has been purchased / taken on rental.

4 If not, Status of negotiations with land owners to be given.

C Raw Material:

1 Whether to be produced or Purchased?

2 Who are the main suppliers?

3 Availability at reasonable cost

4 Whether RM is indigenous / imported / controlled?

5 Main items of RM

6 Whether RM is available throughout the year or seasonal?

7 Availability: Existing & Future

8 Storage facility requirement

9 Stock holding

10 What is the minimum order quantity?

11 What is the lead-time? (Time between order booking and receipt of material)

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12 Credit allowed by suppliers.

13 Discount policy of suppliers.

D Plant & Machinery:

1 Whether P&M are imported or indigenous?

2 List of machinery to be installed / to be purchased.

3 Whether machinery is readily available or to be fabricated?

4 Details of quotations, delivery period, cost, life, spares, service, guarantee etc.

5 Production capacity: to be Installed / to be utilized

E Technology & Production:

1 Manufacturing process

2 Technical know how: Foreign / Local

3 By-products

4 Advantages of alternate technologies

5 Technology: Stable / fast changing

6 Factory will work in-------shifts.

7 Length of production cycle

8 Whether material will be sent out for processing?

F Personnel:

1 Availability of key personnel

2 Training facility

3 Accommodation facility for staff, Staff quarters.

G Government permissions, licenses

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4.0 Economic viability

A Product:

1 Products proposed to be manufactured.

2 Whether production will be seasonal or throughout the year?

3 Whether demand will be seasonal or throughout the year?

4 Features of the product and plus points over other products.

5 Who are the main competitors?

6 Who are the main customers?

7 What is the Demand & Supply position?

8 ----Existing

9 ----Future

10 Market share: Existing & Future

11 Location of market

12 Export prospects

13 Whether Indian / Foreign standards have been specified?

14 Whether your product meets the said standard?

15 Quality control

16 Is it a standard product or to be produced against order booking?

17 Marketing arrangement

18 Direct marketing/ through distributors, agents

19 Credit period to be allowed to customers.

20 Discount policy

21 Life of the product

22 Storage facility requirement

23 Stock holding

24 Cost of production, margin

25 Gross margin on sales

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5.0 Financial viability:

5.01 Project cost & Means of Finance

5.02 Projected profitability statements

5.03 Projected Balance Sheet

5.04 Notes, assumptions and working notes for projected P& L, B/S

5.05 Funds Flow statements

5.06 Ratio Analysis

5.07 Break even analysis & margin of safety, capacity utilization.

5.08 Interest Coverage Ratio

5.09 Debt service coverage ratio

5.10 Sensitivity analysis

6.0 Managerial competence:

6.01 List of directors, partners, proprietor

6.02 Qualification, experience, family reputation in the market

6.03 Credit worthiness report from their Bankers.

6.04 Copy of I.T. return, WT return

6.05 Details of sister / associate concerns

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20 / Project Appraisal

The prime objective of capital investment is to make profit by way of investing in

various capital assets.

Similarly the prime objective of the financier to finance for capital investment is to

see that his finance gets proper return and at end of the contracted period the loan

amount is repaid.

There are various techniques, which can be employed to carry out project appraisal.

Traditional Methods:

Pay back period.

Profitability index (post pay back)

Rate of return method.

Time Adjusted methods:

Net present value method

Internal rate of return method.

Profitability Index method.

Pay back Period

This indicates the period during which the entire capital investment is recovered.

Yearly cash inflow should be added up till the total is equal to initial capital

investment / project cost.

Financier prefers a unit having lower payback period.

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Limitations:

It does not consider time value of money.

It ignores all cash flows after the payback period.

Merits:

It is easy to calculate.

It emphasizes short and medium term liquidity.

It tends to eliminate high-risk projects.

Post Pay-back Profitability Index

Post payback cash inflows x 100 divided by capital investment = Post payback

profitability index.

Cash in flows after reaching payback period are considered to ascertain safety

margin in recovery of capital outlay.

Rate of Return Method.

Return per investment =

Total cash in flow x 100 divided by capital investment.

Average rate of return =

Average cash in flows x 100 divided by capital investment.

Net Present Value (NPV)

A bird in hand is equal to two birds in bush.

Time value of money is considered.

Any project, which gives big return in the shortest possible time, is more important.

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Steps involved in computing NPV:

Decide rate of return expected from the project. It should be at least equal to

‘cost of capital’.

Find out present value of capital outlay.

Find out present value of cash inflows.

If NPV is 0 or positive, the project should be accepted.

In case of multiple projects, the one with maximum NPV should be accepted.

Internal rate return (IRR)

In case of NPV method, the net present value is found out by discounting cash

flows at pre-determined rate. i.e. Cost of capital.

Under IRR method, the cash flow is discounted at a suitable rate, which equates the

present value.

If IRR is > Cost of Capital, the project may be accepted. In case of multiple projects,

the one with maximum IRR should be accepted.

Profitability Index method

Profitability Index= Present value of cash in flows divided by present value of cash

out flow.

Net Profitability Index = Net present value divided by initial capital

investment/project cost.

If profitability index is > 1, the project should be accepted.

Refer Article – 25 & 26 for explanation of Cost of Capital, Internal Generation respectively.

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Project Appraisal Examples. Cash in flows = PAT less dividend + depreciation Rs ’000

Year Project A Project B P.A. Cum. P.A. Cum.

0 Cash out flow-1000

Cash out flow- 2000

1 200 200 400 400 2 300 500 400 800 3 300 800 400 1200 4 400 1200 500 1700 5 400 1600 600 2300

Total outflow 1000 2000 Total Inflow 1600 2300

Net 600 300 Project A Project B Pay back period 3.5 years 4.5 years Post payback profitability index 600 x 100 divided by

1000 = 60 % 300 x 100 divided by

2000 = 15 % Return per investment 1600 divided by 1000 =

160 % 2300 divided by 2000 =

115 % Average rate of return 320 divided by 1000 =

32 % 460 divided by 2000 =

23 % Net Present value (NPV) Rs ’000 Cost of capital say 10 %

Year Discounting factor

@ 10 %

Cashflows Present value

Cashflows Present value

0 1.00000 1000 1000 2000 2000 1 0.90909 200 182 400 364 2 0.82654 300 248 400 331 3 0.75131 300 225 400 301 4 0.68301 400 273 500 341 5 0.62092 400 248 600 373

Total PV of cash inflows 1600 1176 2300 1710 Total PV of cash out flows 1000 1000 2000 2000 Net Present Value 600 176 300 (290) Profitability Index 1176 divided by 1000

=1.18

1710 divided by 2000 = 0.86

Conclusion Accept Reject

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21 / PERT & CPM

PERT

P: Project

E: Evaluation

R: Review

T: Technique

CPM

C: Critical

P: Path

M: Method

PERT

PERT is one of most important management tool to monitor and control any

Project.

The said technique is also of use in day-to-day life for better time management.

Introduction to PERT

Every project / activity involves number of sub-activities/jobs.

These sub-activities are interrelated.

Hence these sub-activities need to be monitored closely for timely completing the

Project.

e.g. Construction of a building involves number of activities such as:

Plinth

Slab

Walls

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Windows & doors

Plastering

Piping

Electrical

Painting

Drainage

You can observe that some activities are interrelated. i.e. unless the previous job is

Completed, the next job cannot be undertaken. Plinth & Slab.

Once two slabs are ready, brickwork, fitting of windows/doors can be undertaken.

Unless plastering is done, electrical work cannot be undertaken.

Steps involved in PERT

List the various sub-activities.

Decide the interrelation / dependence of jobs.

Work out early completion / late completion chart.

To Exercise strict control on activities, for which float is not available.

Timely completion of a Project depends on these critical jobs.

CPM

The jobs on the Critical Path decide the timely completion of the project.

Any delay in any of these activities will delay the project.

Optimum utilization of resources is possible.

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22 / Project Evaluation & Review Technique (PERT) and Critical Path Method (CPM)

Activity Time Completion Dependence Months Early Latest Float On

0-1 1 1 4 3 I 0-2 2 2 2 --- I 2-1 2 4 4 --- D 0-2 2-3 3 5 6 1 D 0-2 1-3 2 6 6 --- D 0-1, 2-1 3-4 2 8 8 --- D All

CPM 0-2 2-1 1-3 3-4

Path Path Time 1 0-1-3-4 5 2 0-2-3-4 7 3 0-2-1-3-4 8 CPM

Activities which can be delayed

Activity Months 0-1 3 2-3 1

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23 / Ratio Analysis

A financial ratio is a relationship of two values of financial statements. Ratios basically are mathematical expressions, which are calculated to derive certain conclusion. The ratio may be expressed as number of times, proportion or percentage. There are number of ratios, but which to consider for a particular type of analysis is left to the personal judgement of the analyst. As a matter of fact, all the ratios are for different purposes and have different objectives.

Uses of Ratios.

Sr. No. 1 Ratios offer help in intra firm comparisons, industry comparison and also

for inter-firm comparison. 2 Financial position of the entity can be studied.

Limitations & problems of Ratio analysis:

Sr. No. Limitations

1 Ratios are based on financial statements, so contain almost all of the deficiencies of those accounts.

2 Some ratios are open for manipulation and need to be interpreted with care. E.g. stock levels may be kept artificially low at year-end, creating an impression of high efficiency in this area.

3 Inter-firm comparisons are faced with the problem that different organizations might use rather different accounting policies. E.g. depreciation methods etc.

4 Detailed knowledge of a company’s markets is seldom obtainable from the published accounts, but is extremely important for assessing future profitability.

5 Ratios are useful when comparing similar organizations operating under similar conditions. Comparisons with different types of organizations can be misleading.

6 There is a real danger that ratio analysis can lead to conclusions, which are over-simplified. e.g. high current ratio.

Types of Ratios.

Sr. No. Type of Ratio Various ratios

1 Turnover Ratios Debtors, Creditors, Inventory 2 Liquidity Ratios Current, Acid test 3 Profitability Ratios Gross profit, Net profit 4 Solvency Ratios Debt Equity, Interest coverage, DSCR

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Sr. No. Ratios Formula / Interpretation

1.0 Turnover Ratios: 1.1 Debtors Turnover

Ratio Average Debtors x 365 divided by Sales. Average Collection period.

1.2 Creditors Turnover Ratio.

Average Creditors x 365 divided by Credit purchases. Average payment period.

1.3 Inventory Turnover Ratio.

Average inventory x 365 divided by material cost Holding period of stock

Sr. No. Ratios Formula / Interpretation

2.0 Liquidity Ratios: 2.1 Current Ratio Current Assets / Current Liabilities. 2.2 Acid Test Ratio Quick Assets / Quick liabilities.

Sr. No. Ratios Formula / Interpretation

3.0 Profitability Ratios: 3.1 Gross Profit Ratio Gross profit / Net sales x 100 3.2 Net Profit Ratio Net profit / Net sales x 100 3.3 Material cost ratio Material cost / Net sales x 100 3.4 Expenses Ratios Expenses / Net sales x 100 3.5 Return on Capital PBIT / Capital employed x 100 3.6 Return on

Proprietor’s Funds PAT / Proprietor’s Funds

Sr. No. Ratios Formula / Interpretation

4.0 Solvency Ratios: 4.1 Debt Equity Ratio Total outside debt / Equity or Shareholders’ funds. 4.2 Proprietary Ratio Proprietor’s funds /Total Assets x 100 4.3 Interest coverage

Ratio PBIT / Fixed interest charges

4.4 Debt coverage Ratio PATID / (Interest + Repayment installments) Notes Ratio Components

1 Average debtors Opening debtors + Closing debtors divided by 2 2 Current assets Stock + debtors + cash & bank balance + loans &

advances + Prepaid expenses 3 Current liabilities Creditors + BP + O/S expenses + IT payable +

Dividend payable + Bank overdraft ( not if permanent)

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4 Quick Assets Current Assets less ( Stock + prepaid expenses) 5 Quick Liabilities. Current liabilities less Bank overdraft 6 Gross Profit Sales less material cost. 7 Net Profit Sales less all expenses + any other income. 8 Debt Long term loans + debentures + Bank overdraft 9 Equity Equity share capital + Preference share capital +Free

Reserves – (Accumulated losses + deferred revenue expenditure) = Net worth = Proprietor’s funds.

10 PBIT Profit before Tax + interest. 11 PATID Profit after Tax + Interest + Depreciation. = Annual

cash flow. 12 PAT Profit less I. Tax. 13 Capital employed Net Fixed Assets + Current assets less Current

liabilities.

Interpretation of various Ratios: Sr. no. Ratio

1.0 Turnover Ratios: 1.1 Debtors Turnover Ratio: This ratio measures the average number of day’s

credit given to debtors. It helps to assess the efficiency of the debt collection department. Debt collection period should be kept as low as possible, consistent with maintaining customer goodwill and market trend.

1.2 Creditors Turnover Ratio: This ratio measures the average number of days credit is exploited from suppliers. Credit given by suppliers depends on various factors such as demand & supply position of material, industry trends, competition etc.

1.3 Inventory Turnover Ratio: This ratio measures the average number of days for which stock is held. It helps to assess the efficiency of stock utilization. Various factors affect the stock level held by the organization such as product, production-seasonal or otherwise, demand pattern, competition, funds availability etc.

2.0 Liquidity Ratios: 2.1 Current Ratio: This ratio is concerned with the assessment of an

organization's ability to meet its short-term obligations. The ratio must be high enough for safety. However, high current assets do not normally lead to high profits in themselves, so the usual trade-off between risk and return exists. Industry norm is 2:1

2.2 Acid Test Ratio: This ratio is also concerned with short-term liquidity. In a sense it is more appropriate measure since liquid assets represent the source of funds from which current liabilities will probably be met. Industry norm is 1:1

3.0 Profitability Ratios: 3.1 Gross Profit Ratio: GP / Margin on sales

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3.2 Net Profit Ratio: Net profit on sales. It indicates organization's ability to generate profits from sales.

3.3 Material cost ratio: Material cost to sales 3.4 Expenses Ratios: Expenses to sales. 3.5 Return on Capital: This ratio is expressed as a percentage. Generally higher

the return the better. 3.6 Return on Proprietor’s Funds: This ratio provides a measure of the

percentage return on the investment made by the owners.

4.0 Solvency Ratios: 4.1 Debt Equity Ratio: This ratio is concerned with establishing the relationship

between external and internal long-term financing. The use of long-term debt in the capital structure has both advantages and disadvantages, and in practice the level of debt actually existing is the result of a balancing process. The main advantage of debt is that it provides an opportunity for greater returns to shareholders. Industry norm is 2:1

4.2 Proprietary Ratio: It measures the owner's contribution of funds. 4.3 Interest coverage Ratio: This ratio measures the safety available to Bank for

recovery of interest. Industry norm is 2:1 4.4 Debt coverage Ratio: This ratio measures the safety available to Bank for

recovery of interest & loan installment. Industry norm is 2.5 : 1

Other Ratios:

6.1 Employees Ratios:

Sales per employee: Sales / staff strength Sales generation: Sales / salaries & wages Profit per employee: PBT / staff strength Profit generation: PBT / salaries & wages Remuneration level: Salaries & wages / staff strength

6.2 Shareholder's Ratios:

Earnings per share: PAT less Pref. Dividend / number of shares Dividend per share: Dividend / Number of shares Dividend pay out ratio: Dividend / Earnings per share Dividend yield: Dividend per share / Market price per share Book value per share: Ordinary shareholder's equity / number of

shares Price-earnings ratio: Market price per share / Earnings per share.

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24 / Funds Flow Statement

One of the most fundamental objectives of business is to make a profit. Long run survival

requires that the business must be able to deal with any possible liquidity problems which

arise in the short term. Basically any business must be concerned with making a profit and

maintaining a solvent financial position.

Objectives of Funds Flow statement:

1. An analysis of the flow of liquid funds can be very useful in making decisions concerning

liquidity.

2. A full understanding of a business's affairs requires the identification of the changes or

movements in assets, liabilities and capital for a year, and the resultant effect on liquid

resources. A profit & loss account or balance sheet does not specifically disclose this

information.

3. To show the manner in which the operations have been financed, and how the financial

resources have been used.

4. They provide useful guide to creditors & lenders.

5. Various ways to improve the net working capital position can be decided.

6. It focuses attention on resources available for capital investment.

7. It is useful in deciding how fixed assets should be financed.

8. It is useful in planning the retirement of debt.

It is now necessary to understand the Balance Sheet in a different way. E.g. Long term

and short term Funds and its application.

Liabilities Assets

Long Term Long Term

Equity Share Capital

Pref. Share Capital

Reserves & Surplus

Debentures

Term Loan

Long term unsecured loans

Fixed Assets

Investments

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Short Term Short Term

Bank CC

Creditors

Provisions

Stock

Debtors

Cash & Bank balances

Loans & Advances

Ideally Funds Flow statement should reveal transfer of Long Term Funds to Short Term

Use.

If Short-Term Funds are transferred to Long Term Use, it will indicate that Bank's funds

have been diverted for Long Term Use. This is not the healthy financial practice, as the

firm will always face the liquidity crises.

The effect of increase / decrease in current assets and current liabilities on working

capital is shown below:

1. Working capital means difference between current assets and current liabilities.

2. Increase in current assets leads to increase in working capital.

3. Decrease in current assets leads to decrease in working capital.

4. Increase in current liabilities leads to decrease in working capital.

5. Decrease in current liabilities leads to increase in working capital.

The various stages in preparing Funds Flow statement are listed below.

1. To prepare statement of increase / decrease in Balance sheet figures.

2. To prepare statement of changes in working capital statement.

3. To prepare Fund Flow Statement.

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25 / Cost of Capital

Rs’000 % Before Tax After Tax Weighted

Avg. Cost % % %

1 2 3 4 5=4 Less 30%

6=3x5

Capital 6000 30 20.0 6.00 Loans 14000 70 15 10.5 7.35 Total 20000 100 13.35 Before Tax = 13.35 divided by 0.70 = 19.07 % (IT @ 30 %)

Rs’000 PBIT 19.07 % of 20000 3814 Less: Interest 15 % on 14000 2100 PBT 1714 Less: Income Tax 30 % on 17.14 514 PAT 1200 Dividend 20 % on 6000 1200 Retained earnings -------

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26 / Internal Generation: Profit after Tax +Depreciation

Balance Sheet

31-03-2008 Liabilities 31-03-2009 31-03-2008 Assets 31-03-2009

2000 Capital 2000 1000 Machinery 900 ----- Profit 400 ---- Debtors ---

1000 Bank bal. 1500 2000 Total 2400 2000 Total 2400

Profit & Loss A/C

31-03-2008 Expenditure 31-03-2009 31-03-2008 Income 31-03-2009

------ Purchases 800 ----- Sales 1500 ------ Expenses 200

------- Depreciation 100 ----- Profit 400

----- Total 1500 ------ Total 1500

Bank A/C

Capital 2000 Machinery 1000 Balance as on 31-03-2008 1000 Total 2000 Total 2000 Opening balance 1000 Purchases 800 Debtors 1500 Expenses 200 Balance as on 31-03-2009 1500 Total 2500 Total 2500 Note: Creditors & Debtors ---Nil

Funds Flow Statement for the year 2008-09 Profit 400 Increase in Bank balance 500 Add: Depreciation 100 Internal Generation 500 Total 500 Total 500 Note: Internal Generation = PAT +Depreciation. In other words cash is generated in the business to the extent of Internal Generation. This example was compiled to demonstrate this fact. In actual situation this surplus cash gets utilized for addition to Fixed Assets, increase in working capital, repayment of loans etc.

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27 / Break Even Analysis

Introduction

Break-even analysis is used to plan the profit & production.

Break-even analysis evaluates and compares the fixed costs and variable costs.

This is no profit or no loss situation.

Use of Break even analysis

To study the effect of CVP ratio.

To know the effect of changes in sales mix.

To determine the volume of sales to earn targeted profits.

To decide to enhance the production of profitable products or to reduce /discontinue the

production of low profitable or loss making products.

Assumptions on Break-even point.

The following assumptions are such which are true and valid in certain set of circumstances

up to a certain level.

All costs are divisible into fixed and variable.

All fixed costs remain constant at all levels of output within the installed capacity.

The variable costs vary along with production.

The selling price is assumed to be constant.

The volume of production influences the cost.

There is synchronization between production and sales, which would help deciding the

break-even point.

Break even point

The break-even point may be termed as that point of sales volume at which the total income

is equal to total costs.

It is a point of sale and production where there is no profit no loss.

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BEP can be decided in terms of units and as well as in monetary terms.

Any production or sales below this point results into loss or any production or sales beyond

this, yields profit.

Definitions

Variable Costs:

(Direct materials, direct labor and variable overheads) will be incurred in direct proportion to

the level of production.

Fixed Costs:

Most overheads are time-based and remain constant, or fixed, regardless of the level of

production.

Total Costs:

Total costs at any level pf production are obtained by adding the fixed costs to the variable

costs.

Formula of BEP

BEP in units = Total fixed costs

---------------------------------------------

Sales price less variable cost per unit

= Total fixed costs divided by contribution per unit.

Formula of BEP

BEP in Sales value= Fixed costs x Sales

---------------------------

Sales Less Variable cost

Example

Sales 6000 units

Sales price per unit Rs. 60=00

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Variable cost per unit Rs.40=00

Fixed costs Rs. 40000=00

BEP in units

Fixed costs Rs.40000=00

Contribution per unit Rs. 20=00 (Rs.60=00 less Rs.40=00)

BEP in units 40000 divided by 20 = 2000 units.

2000 x Rs. 60=00 = Rs. 120,000

BEP in Sales Value

Fixed costs Rs. 40000=00

Sales Rs. 360,000=00

Variable costs Rs. 240,000=00

BEP in sales value 40000 x 360,000 divided by 120,000=Rs.120000/-

Margin of safety

Margin of safety = Sales less Breakeven Sales.

MOS=6000 – 2000 = 4000 / 66.7 %

Conclusion: Even if Sales decrease by 66.7 %, unit will not incur loss.

Conclusion

BEP Analysis will help the Banker in appraisal of actual / projected

performance of the borrower. It also acts as sensitivity analysis tool to judge the

projected performance. It will play supporting role to DSCR.

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28 / Change2288 // CChhaannggee

CCChhhaaannngggeee HHHaaappppppeeennnsss

AAAnnntttiiiccciiipppaaattteee CCChhhaaannngggeee

MMMooonnniiitttooorrr CCChhhaaannngggeee

AAAdddaaapppttt TTTooo CCChhhaaannngggeee QQQuuuiiiccckkklllyyy

CCChhhaaannngggeee

EEEnnnjjjoooyyy CCChhhaaannngggeee!!!

BBBeee RRReeeaaadddyyy TTTooo CCChhhaaannngggeee QQQuuuiiiccckkklllyyy &&& EEEnnnjjjoooyyy IIIttt AAAgggaaaiiinnn...

SSSpppeeennnccceeerrr JJJooohhhnnnsssooonnn

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29 / The Present Three ways to use your present moments.

Be in the Present

When you want to be Happy and Successful: • Focus on what is Right Now. • Use your Purpose to respond to what is important now.

Learn From The Past

When you want to make The Present better than The Past: • Look at what Happened in The Past. • Learn something Valuable from it. • Do things Differently in The Present.

Plan for The Future

When you want to make the Future better than The Present: • See what a wonderful future would look like. • Make plans to help it happen. • Put your Plan in to Action in The Present.

Spencer Johnson

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From: "CA. JAYESH SHETH" <[email protected]> To: "CA.PARAS SAVLA FOR CVO CA" <[email protected]>; "vandu_ca Moderator" <[email protected]>; "DAHISAR CPE STUDY CIRCLE" <[email protected]>; "BORIVLI CCPE STUDY CIRCLE" <[email protected]> Subject: [bcsccpe] Fw: Interesting Aspects of Life-Warren Buffet Date: Wednesday, July 18, 2007 03:28 PM

30 / Interesting aspects of life - Warren Buffet... Very Good.

There was a one hour interview on CNBC with Warren Buffet, the second

richest man who has donated $31 billion to charity. Here are some very

interesting aspects of his life:

1. He bought his first share at age 11 and he now regrets that he started too late!

2. He bought a small farm at age 14 with savings from delivering newspapers.

3. He still lives in the same small 3-bedroom house in mid-town Omaha that he

bought after he got married 50 years ago. He says that he has everything he needs

in that house. His house does not have a wall or a fence.

4. He drives his own car everywhere and does not have a driver or security people

around him.

5. He never travels by private jet, although he owns the world's largest private jet

company.

6. His company, Berkshire Hathaway, owns 63 companies. He writes only one

letter each year to the CEOs of these companies, giving them goals for the year.

He never holds meetings or calls them on a regular basis. He has given his CEO's

only two rules. Rule number 1: do not lose any of your share holder's money.

Rule number 2: Do not forget rule number 1.

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7. He does not socialize with the high society crowd. His past time after he gets

home is to make himself some pop corn and watch Television.

8. Bill Gates, the world's richest man met him for the first time only 5 years ago.

Bill Gates did not think he had anything in common with Warren Buffet. So he had

scheduled his meeting only for half hour. But when Gates met him, the meeting

lasted for ten hours and Bill Gates became a devotee of Warren Buffet.

9. Warren Buffet does not carry a cell phone, nor has a computer on his desk.

His advice to young people: "Stay away from credit cards and invest in yourself

and

Remember:

A. Money doesn't create man but it is the man who created money.

B. Live your life as simple as you are.

C. Don't do what others say, just listen them, but do what you feel good.

D. Don't go on brand name; just wear those things in which u feel comfortable.

E. Don't waste your money on unnecessary things; just spend on them who really

in need rather.

F. After all it's your life then why give chance to others to rule our life."

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31 / Managing people

WHY EMPLOYEES LEAVE ORGANISATIONS? - Azim Premji, Wipro

Every company faces the problem of people leaving the company for better pay or

profile.

Early this year, Arun, a senior software designer, got an offer from a prestigious

international firm to work in its India operations developing specialized software.

He was thrilled by the offer.

He had heard a lot about the CEO. The salary was great. The company had all the

right systems in place employee-friendly human resources (HR) policies, a

spanking new office, and the very best technology, even a canteen that served

superb food.

Twice Arun was sent abroad for training. "My learning curve is the sharpest it's

ever been," he said soon after he joined.

Last week, less than eight months after he joined, Arun walked out of the job.

Why did this talented employee leave?

Arun quit for the same reason that drives many good people away.

The answer lies in one of the largest studies undertaken by the Gallup Organization.

The study surveyed over a million employees and 80,000 managers and was

published in a book called "First Break All The Rules". It came up with this

surprising finding:

If you're losing good people, look to their immediate boss .Immediate boss is the

reason people stay and thrive in an organization. And he’s the reason why

people leave. When people leave they take knowledge, experience and contacts

with them, straight to the competition.

"People leave managers not companies," write the authors Marcus Buckingham

and Curt Coffman.

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Mostly manager drives people away?

HR experts say that of all the abuses, employees find humiliation the most

intolerable. The first time, an employee may not leave, but a thought has been

planted. The second time, that thought gets strengthened. The third time, he looks

for another job.

When people cannot retort openly in anger, they do so by passive aggression. By

digging their heels in and slowing down. By doing only what they are told to do

and no more. By omitting to give the boss crucial information. Dev says: "If you

work for a jerk, you basically want to get him into trouble. You don’t have your

heart and soul in the job."

Different managers can stress out employees in different ways - by being too

controlling, too suspicious, too pushy, too critical, but they forget that workers are

not fixed assets, they are free agents. When this goes on too long, an employee will

quit - often over a trivial issue.

Talented men leave. Dead wood doesn’t.

“Jack Welch of GE once said. A company's value lies "between the ears of its

employees".

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32 / Vanilla ice-cream!!! Interesting one!!

Vanilla Ice Cream that puzzled General motors!!!!

An Interesting Story

Never underestimate your Clients' Complaint, no matter how funny it might

seem!

This is a real story that happened between the customer of General Motors

and its Customer-Care Executive. Please read on.....

A complaint was received by the Pontiac Division of General Motors:

'This is the second time I have written to you, and I don't blame you for not

answering me, because I sounded crazy, but it is a fact that we have a tradition in

our family of Ice-Cream for dessert after dinner each night, but the kind of ice

cream varies so, every night, after we've eaten, the whole family votes on which

kind of ice cream we should have and I drive down to the store to get it. It's also a

fact that I recently purchased a new Pontiac and since then my trips to the store

have created a problem.....

You see, every time I buy a vanilla ice-cream, when I start back from the store my

car won't start. If I get any other kind of ice cream, the car starts just fine. I want

you to know I'm serious about this question, no matter how silly it sounds "What is

there about a Pontiac that makes it not start when I get vanilla ice cream, and easy

to start whenever I get any other kind?" The Pontiac President was understandably

skeptical about the letter, but sent an Engineer to check it out anyway.

The latter was surprised to be greeted by a successful, obviously well educated

man in a fine neighborhood. He had arranged to meet the man just after dinner

time, so the two hopped into the car and drove to the ice cream store. It was vanilla

ice cream that night and, sure enough, after they came back to the car, it wouldn't

start.

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84

The Engineer returned for three more nights. The first night, they got chocolate.

The car started. The second night, he got strawberry. The car started. The third

night he ordered vanilla. The car failed to start.

Now the engineer, being a logical man, refused to believe that this man's car was

allergic to vanilla ice cream. He arranged, therefore, to continue his visits for as

long as it took to solve the problem. And toward this end he began to take notes:

He jotted down all sorts of data: time of day, type of gas uses, time to drive back

and forth etc.

In a short time, he had a clue: the man took less time to buy vanilla than any other

flavor. Why? The answer was in the layout of the store. Vanilla, being the most

popular flavor, was in a separate case at the front of the store for quick pickup. All

the other flavors were kept in the back of the store at a different counter where it

took considerably longer to check out the flavor.

Now, the question for the Engineer was why the car wouldn't start when it took

less time. Eureka - Time was now the problem - not the vanilla ice cream!!!!

The engineer quickly came up with the answer: "vapor lock".

It was happening every night; but the extra time taken to get the other flavors

allowed the engine to cool down sufficiently to start. When the man got vanilla, the

engine was still too hot for the vapor lock to dissipate.

Even crazy looking problems are sometimes real and all problems seem to be

simple only when we find the solution, with cool thinking.

Don't just say it is “IMPOSSIBLE" without putting a sincere effort....

Observe the word "IMPOSSIBLE" carefully....

Looking closer you will see, "I'M POSSIBLE"...

What really matters is your attitude and your perception.

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33 / Principles of Management

Why we see Movie?

For entertainment. For Killing time. You like Hero or heroine. For Action. For Songs.

Can we learn from Movie?

The reply would be generally No. However, the said reply may not be always true. If you can look at anything without exception, it is possible to take lesson from any thing. One should cultivate the habit of remaining student all through his Life. If I say that Aspiring Managers can learn from a Movie, You may not agree. Kindly do not jump to the conclusions. In next few Paras, I will be making an attempt to underline important Management Principles which we can learn from the great Movie ‘Sholay’

Team Work

Any job can not be successfully accomplished without the Team Work. Management must make every effort to iron out the differences in various groups in the organization. Every employee should feel that he is the part of the family.

Job Evaluation

Management should cultivate the habit that no work would be undertaken without proper evaluation. All the necessary factors, risks at the time of decision should be carefully analyzed. Decision should be taken from the brain and not from the heart.

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86

Outsource

The word ‘Outsource’ has become the call of the day. This principle was not followed seriously by our Industry until recently. Even when job is to be done in house, this principle should be followed by delegating the responsibility to a proper executive.

Quality Control

Your long term success depends on maintaining quality control. I am not referring Quality control only for product but also for other factors such as your Life perspective, behavior, knowledge etc. Please remember that short cuts can take you to the top but can’t keep you there.

Baseless Claims

There should not be any difference between what you say and what you mean. Management must create such atmosphere that no body should feel the necessity of making baseless claims.

Start to finish

Whenever you undertake any job, the same should be finished in one go. Half finished jobs are time bombs. Your success is measured by what you have accomplished and not from your half done jobs or from what you can do.

Optimist

Manager should be optimist in his approach. Optimist sees opportunity in every difficulty while pessimist sees difficulty in every opportunity.

Opportunity.

Opportunity knocks your door once and you should not leave any stone unturned to grab the same. You should also acquire skill to anticipate the opportunity and grab it half way before others even notice it.

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Information Net Work

It is necessary to establish effective information net work for achieving success in any business. Management should create healthy atmosphere which will induce the staff to share views & information. Pros & Cons of every information should be studied before implementation.

Communication

Communication (both written & spoken) should be effective. Poor communication can spoil the relationship with customer, colleagues, vendors etc. Staff should be given Special training in this field.

Diplomacy

Diplomacy is required in every sphere of Life. Diplomacy is required even if your product quality is good and you have obtained ISO Certificate. Diplomacy is called for in relationship with staff, competitors, government etc.

Extreme

Managers are generally afraid to use this principle in real practice. It is essential that Managers should not only learn this principle but also put to use depending on the circumstances of the case. Necessity to apply this principle arises in dealing with higher authorities, colleagues, staff, union etc.

Respect the Work Force.

Any organization can’t achieve success without the active participation of its work force. This is possible only when staff is not only rewarded adequately but also respected for their contribution.

Why we serve?

Do you remember famous dialogue from the Movie ‘Bunty & Bablee’ “There is no Mal, Izzat & Maza in your job.” Now a days you may get ‘Mal’ but you have to keep fingers crossed for getting ‘Izzat & Maza’

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Self confidence

Management must have self confidence in their own ability & take efforts to generate the same in the staff. This can be done by systematic study of SWOT of each staff, extending necessary training, delegating the responsibility, encouragement for studies and acquiring skills etc.

Work & Life Balance

Bryan Dyson (CEO of Coca Cola)

"Imagine life as a game in which you are juggling five balls in the air. You name them - work, family, health, friends and spirit and you're keeping all of these in the air. You will soon understand that work is a rubber ball. If you drop it, it will bounce back. If you drop one of these; they will be irrevocably scuffed, marked, nicked, damaged or even shattered. They will never be the same. You must understand that and strive for balance in your life." But the other four balls - family, health, friends and spirit - are made of glass. Wishing best wishes to u all for the game.

Safe distance

Manager should learn the skill to keep safe distance from his higher authorities, colleagues, staff, vendors, customers etc. His behaviour should be such that would keep the other party guessing. Your approach should be so far no further. You should not offer your shoulder to any one to fire bullet at others because in the process you may not know when Top management would make you ‘MTv Bakara.’

Never show all your cards.

You should not be unnecessarily enthusiastic to show your entire talent to higher ups. Your approach should be like a mini skirt which hides more than it shows. If you follow this advice then Top management’s interest in you would remain live for ever.

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Appeal to Managers

Don’t miss the opportunity to see the movie.

Acknowledgement

The Pictures were forwarded by one of my friend running cyber café.

Perusal of the same prompted me to edit it, add commentary and turn the said slide show as a ready handout for displaying management principles.

Principles of Management & Relevant scenes from the Movie: 1 Team Work:

Friendship between Dharmendra & Amitabh

2 Job Evaluation: Discussion with Sanjiv Kumar about Gabbar.

3 Outsource:

Discussion with Sanjiv Kumar about Gabbar.

4 Quality Control: Kitne aadmi the?

5 Baseless Claims

Surma Bhopali telling stories about his braveness.

6 Start to finish: Gabbar does not kill Sanjiv Kumar but only cuts his hands.

7 Optimist:

Amitabh’s behaviour with Jaya.

8 Opportunity: Gabbar’s army catches Dharmendra half way while he was charging towards

Gabbar’s den.

9 Information Net Work: Barber in jail providing information to Asrani (Jailor)

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10 Communication: Dialogues between Gabbar & Sambha.

11 Diplomacy:

Amitabh pleading for Dharmendra to Mousi.

12 Extreme: Dharmendra threatening to jump from water tank.

13 Respect the Work Force:

Hema Malini feeding the horse.

14 Why we serve? Hema Malini feeding the horse.

15 Self confidence:

Asrani speaking with prisoners.

16 Work & Life Balance: Dialogues between Hema Malini & Dharmendra-Amitabh. Famous Dance number ‘Mehabooba Mehabooba’.

17 Safe distance:

Hema Malini’s dance & Dharmendra’s asking her not to dance in front of ….

18 Never show all your cards: Last scene between Dharmendra & Amitabh and Dharmendra realizing that

coin had only head print on both sides.

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34 / Delegation

1.0 Introduction:

1.1 The successful managers & good leaders are always willing to delegate.

1.2 Delegation is an Art.

1.3 It is all about how managers go about doing their job rather than doing the job

themselves.

1.4 Delegation is essential for successful completion of any job.

2.0 What is delegation?

2.1 It means giving someone a task or duty, which is normally part of your job.

2.2 Authority should also flow along with delegation but not the Accountability.

2.3 Managers delegate when they give Authority to a subordinate to do something which

they would normally do themselves and for the outcome of which they remain wholly

Accountable.

3.0 Staff Relationship.

3.1 The absence of good staff relations is a major obstacle to successful delegation.

3.2 Delegation when properly introduced and managed has the effect of greatly improving

manager / staff relations.

4.0 What to delegate and to whom?

4.1 Managers should ensure that they make the right choice of tasks and duties to

delegate and select the best people to serve as delegates.

4.2 Delegation benefits are enjoyed by Managers, Staff and the organization.

5.0 Delegation Process:

5.1 Deciding what you want to achieve:

5.2 Selecting the delegate depends up on appropriate skill, availability, who would benefit

most from challenge, how much support needs to be given and risk involved.

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5.3 Briefing the delegate will include overall task and the context, requirement, preparing

Plan of action, parameters, resources limitation, deadlines, sensitive issues, suppressing

over-confidence / enthusiasm, authority to do job.

5.4 Encouraging and supporting delegates who underestimate their abilities and lack

confidence.

5.5 The process can be summarized as: Tell what to do, Show how to do, Let the person

try, Observe performance and Praise progress or redirect.

5.6 As a Manager, the important thing is not what happens when you are there but what

happens when you are not there.

5.7 When you end a Reprimand with a Praising, People think about their Behaviour and

not your Behaviour.

5.8 If a person: CAN’T DO something, Go back to Goal Setting. (A training Problem)

5.9 If a person: WON’T DO something Reprimand. (An Attitude Problem). Reprimand

should be immediate, specific.

6.0 Monitoring:

6.1 Monitoring is essential but the way this will be done should be agreed as part of the

plan. This will include periodic reviews, intermediate targets, and dates of reviews,

major errors/ misjudgments encourage delegates to talk about their mistakes without

fear of reprimand.

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35 / List of Books worth reading.

Sr. No.

Title Author Publisher Price Category

1 Putting the one-minute manager to work.

Kenneth Blanchard & Robert Lorber

HarperCollins Publishers India

Rs.95=00 Management English

2 Brand Serve- 31 customer service prescriptions

Jagdeep Kapoor Navneet Publications (India) Ltd.

Rs.150=00 Management English

3 Leadership in a week Carol A. O’Connor Hodder & Stoughton UK PS 6.99 Management English 4 Presentation in a week Malcolm Peel Hodder & Stoughton UK PS 6.99 Management English 5 The Welch Way Jeffrey A. Krames Tata MaGrow-Hill Rs.95=00 Management English 6 Customer Retention in a week Jane Smith Hodder & Stoughton Rs.100=00 Management English 7 30 Minutes to boost your

communication Elizabeth Tierney Kogan Page India P. Ltd Rs. 45=00 Management English

8 Strategy in a week Bob Norton & Ray Irving Hodder & Stoughton UK PS 6.99 Management English 9 Marketing in a week Eric Davies & Barry

Davies Hodder & Stoughton UK PS 6.99 Management English

10 Test your Business Skills Gene Crozier & Gareth Lewis

Hodder & Stoughton UK PS 6.99 Management English

11 Management Style John Wilson Hodder & Stoughton UK PS 6.99 Management English 12 Leadership by the Book Ken Blanchard Harper Collins Rs.150/- Management English 13 Chronicals of a quality

Detective Dr. Shrinivas Gondhalekar & Payal Sheth

Indus Source Books Rs.150/- Management English

14 Smart Moves for people in charge

Sam Deep & Lyle Sussman

Magna Publishing Co. Ltd Rs. 175/- Management English

15 Marketing in a week Eric & Barry Davies Hodder & Stoughton UK PS 6.99 Management English 16 52 ways to motivate staff Trish Nicholson Roli Books Pvt. Ltd Rs.295=00 Management English 17 Soft Sell Tim Connor Magna Publishing Co. Ltd Rs.175=00 Management English 18 30 Minutes to boost your

esteem Patrica Cleghorn Kogan Page India P. Ltd Rs.45/- Management English

19 30 Minutes to get your way

Patrick Forsyth Kogan Page India P ltd Rs.45/- Management English

20 How to achieve success? Anant Pai UBS Publishers’ Distributors Ltd.

Rs. 25/- Management English

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Sr. No.

Title Author Publisher Price Category

21 Keys to success in Life Charles S. D’sousa Better yourself books Rs.15/- Management English 22 The Present Spencer Johnson Bantam Books Rs.125/- English 23 Gung Ho (Motivation) Ken Blanchard &

Sheldon Bowles Harper Collins Business UK PS 6.99 Management English

24 The 3 mistakes of my life Chetan Bhagat Rupa & Co. Rs.95/- Life English 25 One night @ the call center Chetan Bhagat Rupa & Co. Rs.95/- Life English 26 5 point some one Chetan Bhagat Rupa & Co. Life English 27 JRD Tata Dr. Pendse Auto biography Marathi 28 Indira Gandhi Pupul Jaikar Auto biography Marathi 29 I dare Kiran Bedi Auto biography Marathi 30 Agnipankh Shri A.P.J.Abul Kalam Auto biography Marathi 31 When bad things happen to

good people. Harold S. Kushner Anchor books US $ 9.95 Life experience English

32 The conquest of happiness Sukhi Manasacha Sadara

Bertrand Russell Karuna Gokhale

Rajhans Prakashan

130

Life Philosophy

Marathi

33 Games Indians Play V. Raghunathan Penguin Group 200 Analytical English 34 The Last Lecture Randy Pausch Holder & Stoughton 295 Autobiography English 35 Powerful Presentation Skills Denis Becker Tata McGRAW-HILL 150 Management English 36 Test your Management Skills Vikky Burt Holder & Stoughton UK PS 6.99 Management English 37 Manager’s responsibility for

communication. John Garnett Universities Press 30 Management English

38 Empowering employees L. Kristi LONG Tata McGRAW-HILL 150 Management English 39 When bad things happen to

Good people Harold S. Kushner

40 Marathi Translation by Sunanda Amrapurkar Majestic Prakashan Rs.150 /- Life Philosophy Marathi 41 Bankruptcy to billions Sudhir Kumar &

Shagun Mehrotra Oxford University Press Management of

Indian Railways English

42 Marathi Translation by Amit Tekale, Suhas Yadav, Abhijit Thite

Ameya Prakashan Rs.195/- Management of Indian Railways

Marathi

43 Thase Manasanche Dr. Meena Nerurkar Anubandh Prakashan Rs.200/- Memories of persons. Marathi 44 Chloroform Dr. Arun Limaye Granthali Rs. 20/- Medical Profession Marathi

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Sr. No.

Title Author Publisher Price Category

45 Our people (Hi Aplich Manasa)

Mangala Khadilkar Gajanan Sabnis

Granthali 250/- US $ 15

Indians settled in USA

Marathi

46 Colony Siddhartha Paradhe Majestic Publication 150/- Auto biography Marathi 47 Prakash Wata Dr. Prakash Amte Samkalin Prakashan 200/- Auto biography Marathi 48 As I see-Indian Police

service Kiran Bedi / Madhuri Shanbaug

Mehta Publishing House 130/- Life Outlook Marathi

49 As I see-Shriyanche Sakshamikaran

Kiran Bedi / Madhuri Shanbaug

Mehta Publishing House 120/- Life Outlook Marathi

50 Confessions of an Economic Hit Man

John Perkins / C. P. Kher

Saket Prakashan P. Ltd. 200/- New York Times Bestseller

Marathi

51 The Professional Subroto Bagchi Penguin Books India 399/- Management English 52 Stress & time Management M.R. Pai Gita R. Pai 200/- Management English

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