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Budgetary Control Video Lectures for CA IPCC CMA Inter CS

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A brief description about budget and budgetary control

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Career analyst Dan Pink examines the puzzle of motivation, starting with a fact that social scientists know but most managers don't: Traditional rewards aren't always as effective as we think. Listen for illuminating stories -- and maybe, a way forward.

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Leadership is learned behavior that becomes unconscious and automatic over time. For example, leaders can make several important decisions about an issue in the time it takes others to understand the question. Many people wonder how leaders know how to make the best decisions, often under immense pressure. The process of making these decisions comes from an accumulation of experiences and encounters with a multitude of difference circumstances, personality types and unforeseen failures. More so, the decision making process is an acute understanding of being familiar with the cause and effect of behavioral and circumstantial patterns; knowing the intelligence and interconnection points of the variables involved in these patterns allows a leader to confidently make decisions and project the probability of their desired outcomes. The most successful leaders are instinctual decision makers. Having done it so many times throughout their careers, they become immune to the pressure associated with decision making and extremely intuitive about the process of making the most strategic and best decisions. This is why most senior executives will tell you they depend strongly upon their "gut-feel" when making difficult decisions at a moment's notice.[/entity]

Beyond decision making, successful leadership across all areas becomes learned and instinctual over a period of time. Successful leaders have learned the mastery of anticipating business patterns, finding opportunities in pressure situations, serving the people they lead and overcoming hardships. No wonder the best CEOs are paid so much money. In 2011, salaries for the 200 top-paid CEOs rose 5 percent to a median $14.5 million per year, according to a study by compensation-data company Equilar for The New York Times.
1. Make Others Feel Safe to Speak-Up
If you are looking to advance your career into a leadership capacity and / or already assume leadership responsibilities - here are 15 things you must do automatically, every day, to be a successful leader in the workplace:
2. Make Decisions
Many times leaders intimidate their colleagues with their title and power when they walk into a room. Successful leaders deflect attention away from themselves and encourage others to voice their opinions. They are experts at making others feel safe to speak-up and confidently share their perspectives and points of view. They use their executive presence to create an approachable environment.
3. Communicate Expectations
Successful leaders are expert decision makers. They either facilitate the dialogue to empower their colleagues to reach a strategic conclusion or they do it themselves. They focus on "making things happen" at all times - decision making activities that sustain progress. Successful leaders have mastered the art of politicking and thus don't waste their time on issues that disrupt momentum. They know how to make 30 decisions in 30 minutes.

Successful leaders are great communicators, and this is especially true when it comes to "performance expectations." In doing so, they remind their colleagues of the organization's core values and mission statement - ensuring that their vision is properly translated and actionable objectives are properly executed.
4. Challenge People to Think
I had a boss that managed the team by reminding us of the expectations that she had of the group. She made it easy for the team to stay focused and on track. The protocol she implemented - by clearly communicating expectations - increased performance and helped to identify those on the team that could not keep up with the standards she expected from us.

The most successful leaders understand their colleagues' mindsets, capabilities and areas for improvement. They use this knowledge/insight to challenge their teams to think and stretch them to reach for more. These types of leaders excel in keeping their people on their toes, never allowing them to get comfortable and enabling them with the tools to grow.
5. Be Accountable to Others
If you are not thinking, you're not learning new things. If you're not learning, you're not growing - and over time becoming irrelevant in your work.

Successful leaders allow their colleagues to manage them. This doesn't mean they are allowing others to control them - but rather becoming accountable to assure they are being proactive to their colleagues needs.
6. Lead by Example
Beyond just mentoring and sponsoring selected employees, being accountable to others is a sign that your leader is focused more on your success than just their own.
7. Measure & Reward Performance
Leading by example sounds easy, but few leaders are consistent with this one. Successful leaders practice what they preach and are mindful of their actions. They know everyone is watching them and therefore are incredibly intuitive about detecting those who are observing their every move, waiting to detect a performance shortfall.

Great leaders always have a strong "pulse" on business performance and those people who are the performance champions. Not only do they review the numbers and measure performance ROI, they are active in acknowledging hard work and efforts (no matter the result). Successful leaders never take consistent performers for granted and are mindful of rewarding them.

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The Most Successful Leaders Do 15 Things Automatically, Every Day

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Leadership is learned behavior that becomes unconscious and automatic over time. For example, leaders can make several important decisions about an issue in the time it takes others to understand the question. Many people wonder how leaders know how to make the best decisions, often under immense pressure.

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It's no secret that good leaders are also good communicators. And the best leaders have learned that effective communication is as much about authenticity as the words they speak and write.

Indeed, communication and leadership are inextricably tied. How can you galvanize, inspire or guide others if you don't communicate in a clear, credible, authentic way?

Here are 5 essential communication practices of effective leaders.

1. Mind the say-do gap. This is all about trust, which is the bedrock of effective leadership. Your behavior is your single greatest mode of communication, and it must be congruent with what you say. If your actions don't align with your words, there's trouble. And it can turn into big trouble if not corrected swiftly and genuinely. Since it's often difficult to see the say-do gap in yourself, rely on a few trusted colleagues to tell it to you straight and flag discrepancies. Rule of thumb: it's better to say nothing or delay your communication until you're certain that your actions will ring true.

2. Make the complex simple. Your employees and customers are being bombarded 24/7 by information, making it hard for them to hear you. Simplicity has never been more powerful or necessary. Effective leaders distill complex thoughts and strategies into simple, memorable terms that colleagues and customers can grasp and act upon. If you're having trouble distilling something to its essence, it may be that you don't understand it. So get clear and look out for technical jargon and business speak, which add complexity. Say what you mean in as few words as possible.

3. Find your own voice. Use language that's distinctly your own. Let your values come through in your communication. Often, executives will opt for the sanitized "corporate voice" instead of their own because they think the former is more eloquent; more appropriate. This is not to say that correct grammar and use of language aren't important -- strong leaders know how to string a sentence together. But don't fixate on eloquence; concentrate on being distinct and real. People want real. People respect real. People follow real. Don't disguise who you are. Be genuine, and people will respect you for it.

4. Be visible. Visibility is about letting your key stakeholders get a feel for who you are and what you care about. It's easy to hide behind a computer and transmit messages to others without seeing or interacting with them. Although e-communication serves a valuable purpose, it is no substitute for face-to-face and voice-to-voice communication. In today's environment, people are often burned out and need to feel a personal connection to you and the work that you believe in. Do a "calendar test" to make sure you're allocating time regularly to be out on the floor, in the factory, in the call center, in the lab, in the store. Show your people that you're engaged and care about them and their work.

5. Listen with your eyes as well as your ears. Stop, look and listen. Remember that effective communication is two-way. Good leaders know how to ask good questions, and then listen with both their eyes and ears. It's easy to be so focused on getting your message out -- or persuading others -- that you don't tune in to what you see and hear. Because you're in a position of authority, the stakes are even higher because you won't always get direct feedback. You need to read between the lines. Listen and hear what is coming back at you. Look for the nonverbal cues. Sometimes a person's body language will tell you everything you need to know.
Susan Tardanico is CEO of The Authentic Leadership Alliance, a leadership and communications consultancy. She is a former corporate senior executive and broadcast reporter. Follow her on twitter @susantardanico.

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5 Habits of Highly Effective Communicators

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It's no secret that good leaders are also good communicators. And the best leaders have learned that effective communication is as much about authenticity as the words they speak and write. Indeed, communication and leadership are inextricably tied. How can you galvanize, inspire or guide others if you don't communicate in a clear, credible, authentic way?

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Kev McKee of Cole-McKee Partnership introduces the concepts of Push and Pull during the introduction to an Influencing Styles and Strategy training programme.

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Human resource management is the organizational function that manages all issues related to the people in an organization. That includes but is not limited to compensation, recruitment and hiring, performance management, organization development, safety, wellness, benefits, employee motivation, communication, policy administration, and training.

Learn more about what human resource management is and how it works.

What Is Human Resource Management?

Human resource management is also a strategic and comprehensive approach to managing people and the workplace culture and environment. Done well, it enables employees to contribute effectively and productively to the overall company direction and the accomplishment of the organization's goals and objectives.

The department members provide the knowledge, necessary tools, training, administrative services, coaching, legal and management advice, and talent management oversight that the rest of the organization needs for successful operation.

Alternate name: Human capital management

Acronym: HRM

How Does Human Resource Management Work?

HRM staff members are partially responsible for ensuring that the organization has an overall mission, vision, and values that are shared and provide an overarching reason for employees to want to work for their organization. These elements can be inspirational and help employees feel as if they are part of something that is bigger than themselves.

Additional activities sponsored by HRM can include employee and community outreach. They are frequent mentors and members of employee teams that address philanthropic giving, employee engagement activities, and events that involve employee families.

HRM functions are also performed by line managers who are directly responsible for the engagement, contribution, and productivity of their reporting staff members. In a fully integrated talent management system, the managers play a significant role in and take ownership of responsibility for the recruitment process. They are also responsible for the ongoing development of and retention of superior employees.

HRM is moving away from traditional personnel, administration, and transactional roles, which are increasingly outsourced. The HRM function is now expected to add value to the strategic utilization of employees and to ensure that employee programs recommended and implemented impact the business in positive measurable ways.

Employees who work in HRM must also help keep their employer and company safe from lawsuits and the resulting workplace chaos. They must perform a balancing act to serve all of an organization's stakeholders: customers, executives, owners, managers, employees, and stockholders.

Requirements for Entering Human Resource Management

Those wishing to enter the field of HRM usually need at least a bachelor's degree in human resource management or a related field, such as business management. Some employers may also require candidates to a master's degree in business administration, human resources, or labor relations.

Special certification isn't always necessary to get a job in HRM, but it can help candidates stand out, and some employers may require it. Several professional associations offer these types of certifications:

The Society for Human Resource Management (SHRM) offers the SHRM Certified Professional and SHRM Senior Certified Professional programs.

The HR Certification Institute (HRCI) offers several certifications, including Associate Professional in Human Resources, Professional in Human Resources, Senior Professional in Human Resources, and Global Professional in Human Resources. HRCI also offers micro-credential programs on several topics.

WorldatWork also offers several certifications in the categories of Compensation, Executive Compensation, Sales Compensation, and Benefits.

International Foundation of Employee Benefit Plans offers certificates in many areas as well, including benefits and health and welfare plans.

The amount of experience needed depends on the preference of the employer, but most manager-level HRM positions require several years in the field.

The soft skills employers usually require in HRM candidates include leadership, communication, decision-making, organizational, and interpersonal skills.﻿﻿

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Human resource management is the organizational function that manages all issues related to the people in an organization. That includes but is not limited to compensation, recruitment and hiring, performance management, organization development, safety, wellness, benefits, employee motivation, communication, policy administration, and training. Learn more about what human resource management is and how it works.

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If you want to provoke a vigorous debate, start a conversation on organizational culture. While there is universal agreement that (1) it exists, and (2) that it plays a crucial role in shaping behavior in organizations, there is little consensus on what organizational culture actually is, never mind how it influences behavior and whether it is something leaders can change.

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What Is Organizational Culture? And Why Should We Care?

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What leaders need to know to change orgs for the better.

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A quick simple vid on Delegation in the workplace. A new approach to building capability, proudly produced by Golder Associates - Human Development.

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The Management Process

In order to be an effective manager, one must be able to get the job done. When we talk about the management process, we are actually discussing the process a manager uses to manage a function, and what steps he or she has to take to make sure the job gets done. There are four parts to the management process: planning, organizing, leading/ directing, and controlling.

In the planning stage, a manager determines how best to accomplish a set goal. During the organizing stage, he determines how best to allocate resources to achieve the goal. The directing/leading stage involves the manager motivating and directing employees to work toward the goal, while the controlling stage requires the manager to evaluate and monitor their progress.

During this stage, he is also ensuring that things are being done as planned and is making changes when necessary. While these functions work together, and often overlap, this lesson focuses on the organizing stage.

Determining your Goal

Let's take a look at how this stage works and fits into the whole process by imagining that you are the owner of a small bakery. You have a good customer base, but when you sat down with your accountant you determined that you have to cut costs by at least $5,000 per month in order to stay in business. This is your goal: $5,000 saved.

Before you start the management process you must have a clear goal in mind. During the planning stage, you determined that the best way to do this was by changing schedules and changing products. Now you begin the work of the organizing stage: allocating your resources so that you can follow this plan and keep baking!

The Organizing Process

The term organizing process refers to the work of determining how to best arrange and utilize your resources in order to achieve the desired results. Let's break down those terms a bit further--what do we mean when we use the terms arrange and utilize? This could be as simple as arranging your pens neatly next to your notepads on your desk, and on a larger scale it means almost the same thing: putting things where they need to be in order to be used effectively. You can't use your pen if it's not on your desk, and you can't deliver cakes to a customer's business if your only driver is in the kitchen mixing the batter.

The term resources refers to the people, activities, plans, knowledge, finances, space, time and anything else you have at your disposal to accomplish your desired results. During the organization stage, you'll need to make sure your resources are where they need to be in order to be used effectively.

Which brings us to the term desired results, which is the outcome we hope to achieve by going through this process. It can be just about anything: more money, happy customers, growing business, successful new product implementation, or, for you as the owner of our imaginary bakery, saving $5,000 per month.

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overview - video & lesson transcript | study.com

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Organizing Process in Management: Steps, Overview - Video & Lesson Transcript | Study.com

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In order to be an effective manager, one must be able to get the job done. When we talk about the management process, we are actually discussing the process a manager uses to manage a function, and what steps he or she has to take to make sure the job gets done.

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Decision Making Process - Learn Project Management Concepts using simple and precise free downloadable tutorials. Prepare for PMI certification and become an efficient Project Manager.

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Here's a talk that could literally change your life. Which career should I pursue? Should I break up -- or get married?! Where should I live? Big decisions like these can be agonizingly difficult. But that's because we think about them the wrong way, says philosopher Ruth Chang.

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What are organizational objectives? definition and meaning

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Definition of organizational objectives: The overall goals, purpose and mission of a business that have been established by its management and communicated to its employees. The organizational objectives of a company typically focus on its ...

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Robert Scoble via Flickr
Last night there was a huge party at the New York Stock Exchange honoring the top 25 multinational corporations (where 40% of a company's workforce is stationed outside its headquarters).

The event was put on by the Great Place to Work Institute, which determined the list by surveying 2.5 million employees from more than 5,500 companies worldwide.

Employees were asked about workplace culture, and how much faith they have in their company.

Guess who's No. 1?
Great Place to Work determined rankings based on the average score from surveys sent to employees. Countries must be mentioned on lists from at least five countries to be considered a best multinational company.

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The 25 Best Multinational Companies To Work For

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Last night there was a huge party at the New York Stock Exchange honoring the top 25 multinational corporations (where 40% of a company's workforce is stationed outside its headquarters). The event was put on by the Great Place to Work Institute, which determined the list by surveying 2.5 million employees from more than 5,500 companies worldwide.

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EEAS - European External Action Service - European Commission

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Delegation of the European Union to the United States

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Multinational Corporation Defined

Connor is the chief-executive officer of BigCorp International, a large multinational company. A multinational corporation (MNC) is a business that operates and conducts business activities in more than one country. Sometimes the term multinational enterprise (MNE) is used, as not all international businesses are corporations. While you may think MNCs are a new creation, we can trace them back at least to the British East India Company formed in 1600, which was shortly followed by the formation of the Dutch East India Company formed in 1602. Let's take a closer look at Connor's company.

BigCorp International is a multinational conglomerate, which consists of a number of different companies engaged in different types of businesses that are owned or controlled by one company. BigCorp International is headquartered in New York. The company owns several different subsidiaries that are involved in defense contracting, aviation, construction, shipping, software and financial services. It has offices and plants on all continents except Antarctica and employs over 100,000 employees in about a dozen countries around the world. BigCorp's annual revenue exceeds the gross domestic product of many small countries.

Role in Globalization

Multinational corporations are major players on the world stage. They play a major role in the globalization process, which is the integration of communication systems, transportation systems, ideas, cultures and economies into one world system. Let's take a quick look at how Connor's company helps facilitate globalization.

BigCorp engages in international trade. It receives imported goods from around the world to produce the goods and services that it exports around the world. This requires a sophisticated and integrated communication and transportation network, which helps expand the global economy. This trade also facilitates the spread of BigCorp's American culture across the globe as foreign consumers are exposed to services, products and ideas that come from the United States. For example, BigCorp owns a media company that broadcasts American news and entertainment around the world.

BigCorp utilizes an international labor force, which continues a trend towards a globalized workforce. For example, prior to becoming the company's CEO, Connor served in the company's foreign subsidiaries in Europe and Asia. His company routinely sends their American employees to foreign locations and brings key employees abroad to work at the company's headquarters in New York. The HR department seeks to fill its vacancies with the best candidates drawn from a global labor pool.

BigCorp invests internationally in new and developing foreign markets through foreign direct investment, which is when a company purchases a controlling interest in a business in a foreign country. The foreign company, and its local market, gets much needed investment capital, and BigCorp gets a foothold in a new and emerging market. In fact, direct foreign investments are an important tool that can help less developed countries develop their economies and increase the economic prosperity for their populations.

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multi-national corporations as international political actors - video & lesson transcript | study.com

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Multi-National Corporations as International Political Actors - Video & Lesson Transcript | Study.com

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Connor is the chief-executive officer of BigCorp International, a large multinational company. A multinational corporation (MNC) is a business that operates and conducts business activities in more than one country. Sometimes the term multinational enterprise (MNE) is used, as not all international businesses are corporations.

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Impact of Cultural Diversity and Multiculturalism

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How important is cultural diversity at your school?

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Attending a school with a diverse student body can help prepare your child for citizenship in a multicultural democracy. RAMZPAUL gives his insight into the importance and value of diversity for our children.

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Empowering families to navigate the immigration system more confidently, rapidly, and affordably.

We are a team of immigrants and experts who have struggled with our own journeys through the complex, high-stakes United States immigration system. Just like millions of other families, we've had to choose between paying thousands of dollars in legal fees or spending months trying to figure out how to do everything ourselves. We knew there had to be a better way. That's what we're building, after hundreds of conversations with families, immigration lawyers, and government officials-a trusted partner and guide for your entire immigration journey.

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Independent immigration attorney review, with opportunities to ask questions.

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Tracking and helpful updates on your case status, all the way until you get your green card.

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You can get started now for free, and pay only when your application package is ready for independent attorney review.

Want to learn more? Check out our free immigration resources.

Want to make a meaningful difference in people's lives? Join our team!

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Empowering families to navigate the immigration system more confidently, rapidly, and affordably. We are a team of immigrants and experts who have struggled with our own journeys through the complex, high-stakes United States immigration system. Just like millions of other families, we've had to choose between paying thousands of dollars in legal fees or spending months trying to figure out how to do everything ourselves.

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George Washington University School of Business

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This animation introduces the learner concepts of social responsibility, the need for the same and arguments in favour of and against social responsibility. This is a product of Mexus Education Pvt. Ltd., an education innovations company based in Mumbai, India. http://www.mexuseducation.com, http://www.ikenstore.in

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Classical Management in the Workplace
Introduced in the late 19th century, the classical management approach to business addresses many issues in industrial management. The approach generally focuses on specialization and efficiency. The approach also places an emphasis on higher quality, cost reduction and better management and worker relationships.

Advantages of Classical Management
The classical management approach does not work in all business environments. However, if it is implemented in the right type of environment, there can be many advantages to the theory. Once such advantage is the placement of an organizational hierarchy that is made up of three levels. The top level of the hierarchy is the board of directors and the chief executives. This level is generally responsible for making the long-term goals of the organization. The second level is the middle management. The middle management oversees supervisors and sets departmental goals according to an approved budget from the top level. The bottom level is the supervisors who oversee the day-to-day operation and activities of the workers. The supervisors provide training for employees as well as address employee issues that arise.

Another advantage of the classical management approach is that it provides clear divisions of labor. This approach sees projects that are broken into smaller tasks and are easier to complete. Generally, the same workers do the same task so they learn to do it very well. This creates higher output and efficiency. This also ensures that workers have clear expectations and responsibility. Increased productivity and cost efficiency is a direct result of this practice.

The classic management approach often offers employees monetary rewards for jobs well done. This is beneficial as it gives management easier control of the workforce. It also helps keep employees motivated by giving them a goal to work toward and a reward to look forward to. It helps employees to feel appreciated when they are rewarded for hard work and, in return, they will continue to be productive.

Disadvantages of the Classical Management Approach
As with any business structures, there are many flaws in the classical management approach. Many feel as if this approach places workers on the same levels as machines. This creates an assembly-line environment that many workers feel hinders the workplace creativity. This system also often overlooks the importance of human relations and does not place enough importance on the morale of the workforce. With workers often hired to do a single task, there is no room for growth and workers do not feel challenged to move up within an organization.

Classical Management in Today's Workplace
The classical management theory is not often used in the workplace today. While the approach is beneficial to small companies where leaders can make decisions without waiting for approval from a board of directors, it does not create the same benefits in the workplace that it once did.

The workplace today generally places more emphasis on employee morale and human relations in the workplace. Employers tend to lean more toward environments that allow more input on decisions from the employees as well as increased creativity
Learn more about Managing a Business

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What Is the Classical Management Approach?

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Classical Management in the Workplace Introduced in the late 19th century, the classical management approach to business addresses many issues in industrial management. The approach generally focuses on specialization and efficiency. The approach also places an emphasis on higher quality, cost reduction and better management and worker relationships.

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7 Stages of Career Change Animated Short Film

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An animated short film about what it's like to manage the challenges of making a career change. Our character Sam is at sea, trying to get off a boat he's grown tired of rowing to do something else he would enjoy more. The story illustrates the 7 common stages people go through when trying to relaunch their careers.