management Archives

Jul222022 by Paul LinusNo Comments

Understanding management ratios

Business

Management ratios are used as a practical means of assessing the quality of financial management, therefore identifying whether financial management is recognised as becoming either less or more efficient. The three main categories of management ratios include: Cost and profitability ratios Working capital ratios Productivity ratios What are Cost and Profitability Ratios Cost and profitability ratios are a means of looking at the effectiveness of the way costs are being managed in relation to the turnover that has been achieved. This approach allows one to look at both movements and relationships between income, profit and costs. Changes in result may then be utilised in order to obtain a comparative analysis between periods of time such as months or years. The methods...

May12022 by Paul LinusNo Comments

Fundamentals of business financial management

Business

The two fundamentals of financial management are represented by management accounting and corporate finance. Managerial accounting includes techniques for financial analysis, costing the activities of the business and forecasting financial requirements. Corporate finance includes functions such as valuations of assets and projects, deciding on the best investment portfolio, reducing risks through hedging operations, and choosing/monitoring the capital structure. Financial Management in Practice Financial managers are responsible for ensuring: Good returns to investors who have provided funds for the business. Monitoring the continued financial health of the business. Reducing the risk exposure of the business. These goals are typically achieved through: Availability of...

Jan302022 by Paul LinusNo Comments

Medical secretary education and career outlook

Career

A well trained medical secretary, more commonly titled medical administrative assistant, is well regarded. Not only do these professionals make things easier for their doctor, they present a competent image to patients as well. An administrative assistant is the right arm of a doctor. This is also health care profession that is rapidly growing. When patients visit their doctor, they want to visit a well-organized, clean, and efficient environment. This is where a medical secretary demonstrates their administrative and professional skills. Their responsibilities include ensuring that patients have a good experience from the moment they enter the doctor’s office doors. This means that good people skills are critical when working with patients and other office personal. Medical Admi...

Nov212021 by Paul LinusNo Comments

Why happy employees may not be motivated

Business

But what if it's wrong? After all, happiness is a mood state and that is not the same thing as motivation or commitment. There are plenty of immensely happy people who are quite average or even below average as performers on the job. There certainly is a relationship between job satisfaction and productivity but while everyone wants to work in an environment that makes them happy, the reality is that satisfied employees are not necessarily more productive. Productive employees tend to be happy however. They are productive when their leaders emphasize quality and customer service and they are well trained, empowered, and involved in making decisions. This allows them to be more engaged and to communicate and collaborate with each other. Consider the resources currently being wa...

Jun262021 by Paul LinusNo Comments

Businesses require different functionality in today’s world

Business

Environmental sustainability and maintaining an acceptable image in the minds of a public that is aware of what is happening in the business world, and adapting business organizational structures to the knowledge businesses created by modern technology are some of the other major issues. Knowledge Businesses When industrialization started, capital equipment was the major strategic asset of a business. The equipment enabled large volume production at costs much less than with manual labor, thus conferring a competitive advantage to businesses using them. The situation is different for today's businesses. Fast changing developments in modern technology result in new products that make traditional products obsolete. Additionally, businesses that know how to leverage the ever-chan...

May152021 by Paul LinusNo Comments

Is business management art or science

Business

Business management involves extremely varied scenarios and one standard approach cannot work in all situations. A scientific approach seeks to impart precision to the process of decision-making by using mathematical and statistical tools to analyze available information and make predictions about future. At the same time, managers have to deal with people on several fronts and an "artistic" skill to deploy their insights into the social and political dimensions of each situation can help them achieve desired results. What Are the Management Sciences? Operations Research (OR) has traditionally been described as management science. It uses mathematical techniques like modeling, statistical analysis, digital certificate and mathematical optimization to suggest the best possible sol...