Business technology management is a methodical approach of acquiring, implementing and monitoring the result of technology in business. Technology has long taken the centre stage as far business management and operations are concern. You hardly talk about any business operation in today’s world without making reference to technology. This is because technologies have long moved […]
WHAT IS SOCIAL AUDIT?
Business social intelligence and social analytics tools are constantly shaping the way that businesses relate with its environment. One of the fundamental success factors in this hyper competitive business environment is the ability of a company to be social and socially responsible. Social audit is the totality of a well planned activities performed by a […]
MANAGEMENT ACCOUNTING TOOLS AND BUSINESS INTELLIGENCE
Management accounting tools and business intelligence over the years have grown to become the hallmark of high flying businesses. It is no longer news that critical business success factor is largely based on a company’s ability to analyse big data on a real time basis. You simply cannot succeed in this globalised hostile business environment […]
BIG DATA AND STRATEGIC DIRECTION OF ORGANIZATIONS
In today’s analytical business environment, the strategic direction of an organization largely depends on how it views this concept of bid data that is now on the lips of every business leaders. Traditionally, business analysts make use of fairly standard analytical tool to make meaningful business and data analysis. With the recent increase in the […]
SMALL BUSINESS BUDGET: PROBLEMS | DRAWBACKS AND IMPORTANCE OF SMALL BUSINESS BUDGETING?
Small business budgeting is often marred by some fundamental problems and drawbacks that stems from the fact that most people who are responsible for preparing budget do it without really appreciating what they do. Anyone can manipulate accounting software with the capability of forecasting and come up with some figures. Nowadays, managers at all levels […]
CRITICAL SUCCESS FACTORS | MEANING AND PROCESS
WHAT IS CRITICAL SUCCESS FACTOR (CSF)? Have you ever wondered why customers prefer to do business a company rather than the other? Well, the simple reason behind customers choosing a business over the other is the fact that they perceive value in what the business does over the other. Those things that customers perceive to […]
WHAT IS STRATEGIC BUSINESS ANALYSIS?
Strategic business analysis are those actions and decisions made by management while trying to understand the impact of strategic events like: introduction or development of new product line, setting up a factory in a new location, employing key staff, selecting organizational structure, investing in new technology, managing risks, complying with relevant laws and regulations, implementing […]
WHAT IS SENSITIVITY ANALYSIS?
In this article, an attempt is made to provide an answer to the question; what is sensitivity analysis in a very simple and non technical manner. An all encompassing approach is taken to accommodate people of different understanding of the subject matter, so, if you are new to the field of accountancy and you wondering […]
FEATURES OF A GOOD, FUNCTIONAL AND OPERATIONAL BALANCED SCORECARD (BSC)
Features of good balanced scorecard are those rudimental ingredients that make it what it is- a BALANCED SCORECARD. In order for a balanced scorecard (BSC) to achieve its goal of translating a company’s strategy into objectives all the way down to a set of high quality measureable targets, it must have some features. These qualities […]
THE APPLICATION OF BALANCED SCORECARD (BSC) IN A CALL CENTER
Balanced scorecard can be applied to a call center just like every other business. Call centres is an example of a business that deals with providing services which makes it more difficult to measure performance. Traditional performance appraisal methods that focuses mostly on financial factors tends to encourage suboptimal activities by customer care representatives working […]
CHANGE MANAGEMENT AND LEADERSHIP
Successful change management process is deeply rooted in effective leadership. Lewin is among those that first pointed out the vital role of leadership in change management. Effective leaders understand the importance of placing enough cushions in the change management process so as to weaken the power of the forces that resists change. There are approaches […]
EFFECTIVE RISK MANAGEMENT CONTROLS FOR ELECTRONIC BANKING
The implementation of effective management controls for e-banking is the best way that banks can survive the overwhelming pressure that comes from the unprecedented rapid improvement in technology. Advancement in technology no doubt brought business opportunities in the banking sector that when appropriately leveraged on will significantly help banks and other financial institutions achieve their […]
GOLDEN RULES OF BUSINESS ETHICS
The golden rules of business ethics are the pillars that hold the success of every vibrant and successful business. You cannot make any reasonable headway in business if you do not appreciate the importance of business ethics. In fact, business ethics is the tonic that adds flavour to the overall corporate image of modern businesses. […]
TWENTY ATTRIBUTES | TRAITS | CHARACTERISTICS OF SUCCESSFUL MANAGERS
Succeeding as a manager is a function of: attributes, traits, and characteristics of managers. This can mathematically be represented thus (A x T x C = SM). You can call it successful management equation if you wish to. The debate as to whether managers are born or made has been settled long ago. Yet, one […]
WHAT IS INTERNAL CONTROLS | MEANING, OBJECTIVES AND ELEMENTS
DEFINITION | MEANING OF INTERNAL CONTROLS Internal controls in its broadest sense is the collection of policies, procedures, practices, conventions, norms and organizational structures which managers implement in order to reduce risks to a business model of an organization. Internal controls are developed with the aim of providing management reasonable assurance that an organizations business […]
WHAT IS FEASIBILITY STUDY? |MEANING | DEFINITION | CHARACTERISTICS AND PROCESS
‘What is a feasibility study might?’ sound like a simple question but when faced with the reality of carrying out a feasibility study, one quickly realizes how demanding and complex it is to conduct a feasibility study. Feasibility study is probably one of the most used phrases in businesses and business schools. Yet not very […]
WHAT IS A BUSINESS? HOW TO BUILD A BUSINESS MODEL THAT WORKS
What is a business as a question might sound silly. But, accounting and business studies teachers will be in a better position to tell how difficult it is to provide a comprehensive answer to this seemingly simple question. I can tell from the perspective of being both a business studies teacher and accounting teacher before […]
WHO IS A MANAGER | DEFINITION AND CHARACTERISTICS OF MANAGERS IN MODERN COMPLEX BUSINESSES
Who is a manager is the topic of a seminar that I recently attended on management and management functions in Spain last summer. The question seem simple but a deep reflection quickly shows that being a manager is more than a job title given to certain class of people in corporate environment. This article critically […]
8 (EIGHT) Functions of Management | Roles of Managers in Modern Volatile Business World
Functions of management and what managers must do in order to stay afloat in today’s highly competitive business world has dramatically shifted from the traditional management functions as contained in most management textbooks in the market. Huge changes have taken place in the field play of business-TIKING. Business-TIKING is a new synonymous word replacing politicking […]
FINANCIAL MANAGEMENT SWOT ANALYSIS
Financial management swot analysis is a new paradigm in finance whereby financial managers are encouraged to simulate on different financial scenarios before applying it to real life situation. It all revolves around finding an optimum financial pressure that a business can bear. This is similar to the financial stress test that banks periodically undergo. WHAT […]
SOCIAL RESPONSIBILITY SCREENS ON INVESTMENTS | THE CORPORATE GOVERNANCE PERSPECTIVE
Green investments also known as social responsibility investment and quality corporate governance over the time has shown to be a bedrock upon which business success is hinged – corporate bodies build their success by hybrid investment strategy that is a product of social responsibility screening of investment and good corporate governance. Investors that is mindful […]