Business & Motivation
Thursday, 16 March 2017
Monday, 13 March 2017
Tuesday, 7 March 2017
DIFFERENCE BETWEEN A BUSINESSMAN AND AN ENTREPRENEUR
A businessman is generally a person involved in a business
trying to generate cash flow or sales or revenue via various combinations of
human, financial and intellectual capital.
She/he may/may not be the founder or owner of the business She/he is involved with.
On the other hand, an entrepreneur is the one who is at the
epicenter of the things right from the start i.e. he is the one trying to
assemble all the resources as well as formulate the business plan for a
successful startup.
She/he is mostly the owner or co-owner of the business she/he
is involved with.
All in all, an entrepreneur is usually the person with an
out of the box idea and a will to implement it, practically. Whereas the businessman
has that experience and skill-set to execute a given idea, in the best money
minded way.
Saturday, 4 March 2017
Saturday, 25 February 2017
IMPORTANCE TOOL FOR HR PROFESSIONALS & MANAGEMENT STUDENTS: HRM SOFTWARE
The HRMS Software market is ever evolving and
growing fast. To put up with the varying needs of the businesses, HRMS software
are now available both customized as well as company designed helping
businesses, especially; SMEs in India.
Most small business owners or startup founders
can check on employees by looking across at them from their desks or walking
down one short hallway a small office space to pass their desks. But no. of
employees & office space also grow as organizational grows. Than the simple
task of keeping a check on employees become complicated.
That's where human resources (HR) software and
management systems come in to picture. These HRM software help HR executives,
HR information systems (HRIS) departments, and company owners track employee,
where they're based, what they're doing, and & there performance.
What is HR Management Software?
HR software solutions are all about
Recruitment management, Employee management, Shift management, Attendance
management, leave management & payroll management.
HRM software HR professional or HR Students Should know:
As a Postgraduate in Management studies I have
seen that 90% of Institutions do not provide any practice exposure of the
related technology of the domains (like training for Various ERP software which
are an integrated part of the respective domain). These software is not just
about leaning course related things but if a student have working knowledge of
these software it will directly helps them to get a Job (because you have a
edge our the competition ).
There are many vendors who provide free trial
version of software which an HR professionals or student can download to get
practicle exposure of this HRMS software. Eg. BambooHR ,Zenefits Z2,SAP
SuccessFactors, Perform and Reward, Namely, APS Online, OnDemand ,Deputy.
These software helps in :
Applicant Tracking
This category is about making sure company
don't let their best candidates slip through their fingers because of
mismanaged on boarding. The best AT tools let you follow your candidates from
the first interaction until the day they leave your company.
Performance Management
Performance management is the one feature that
is most associated with HR management systems. But, because there are several
popular methodologies for measuring employee performance, software makers have
devoted entire packages specific to this process.
Eg. SAP Success Factors Perform and Reward
HRMS Systems
Beyond all these different disciplines, HR
software vendors add their own product mix Different module by different vendor
offers modules for posting job openings and tracking applicants, running
payroll, managing time-off requests, scheduling shifts, administering benefits,
and setting performance goals and reviews.
Under HRMS category Payroll is altogether is a separate module. It is proved as an important tool for SMEs in India.Webtel Electrosoft Pvt.Ltd is a leading organization provides payroll software to thousand of clients Ranges from small to large Enterprise across the India.
As per as SMEs is concern
this software covers all the major aspects of HRM software’s like
• Employee
Management
• Asset
Management
• Performance
Analysis
• Employee
FnF Records
• Leave
Adjustments
• Salary
Calculator
• Salary
Breakup and Slip Generation
• Appraisal
Implementation
• Taxation
Management
• Employee
Arrear Management
• Attendance
• Employee Appraisal & Promotion
• Relieving Process
Sunday, 12 February 2017
Super Young Entrepreneur: Starting a Buisness when you are Under 18
Recently while reading an article
about Suhas Gopinath (CEO and Chairman of Globals Inc, an IT MNC & once awarded
youngest Entrepreneur at the age of 17), I come across the various challenges he
has faced & how he our come the challenges at that time. Today, Global is a
multi-million dollar company with offices in the United States, India, Canada,
Germany, Italy, the United Kingdom, Spain, Australia, Singapore and the Middle
East and has 100 employees in India and 56 abroad.
"Research showing that the average
age of entrepreneurs is declining"
Some of the specific issues and
challenges faced by entrepreneurs aged under 18
Entrepreneurs who are aged fewer
than 18 faces some additional challenge as compare to those who are above 18
like:
CHALLENGES :
- Barriers to setting up a business bank account, accessing credit and raising business finance.
- Legal status as a minor and the type of work that you can do
- Balancing business with your education
- The usual business headaches of registering your company, understanding tax etc
But all this issues stands nowhere
if you have solid idea & burning desire to start your entrepreneurial
journey.
SOLUTIONS :
Bank accounts and raising finance
People aged under 18 are legally
considered to be a minor.
You
can’t open a business bank account because for that you need PAN card & in
India 18 years is the minimum age for person to Get a PAN card.
Unable
to borrow money or have a credit card.
So if required then you need to
raise finance from alternative source. This could be:
- Getting a loan from a family member to fund your venture
- Going into business jointly with an adult who is legally able to access finance
- Get finance from enterprise funds, trusts or agencies
Now a day’s there are many business you can
set up with very little finance. If you already have a computer and an internet
connection in your house it’s possible to start up an online business with a
little investment. A lack of finance doesn’t have to be a barrier to business
success.
Balancing your business, education
and social time
It is essential that you find a good
balance between your business, your education and things such as seeing your
friends and relaxing with your family.
A young age and a lack of experience:
Some time you might feel that your
age could be a barrier & people you meet would not take you seriously. But
the good news is that many people are impressed by young entrepreneurs and see
it as a good thing; so as long as you manage yourself in most professional manner,
other business people will take you professionally & seriously.
Ask for Help:
There are so many organizations that can provide you with practical business advice and even funding. There are huge information available about starting a business on internet. You can join communities & Forums from where you can get the answer of all your queries.
How Universities & Institutes
can contribute:
Universities/Institutions can play a
vital role to ensure a dynamic entrepreneurial economy in the near future -
when our youth reach adulthood. Young generation aspire to be millionaires or
billionaires but are unaware of the social responsibilities that can come with
this too.
Getting these aspiring entrepreneurs
to understand entrepreneurship as a means to social change and innovation
rather than personal economic gains is important task , which can be taken care
by a collective effort from media, education institutions and successful
entrepreneurs."
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