The World Business

Archive for July, 2010

In last article, we have talk about the first six chapters of the enterprise management rule, today, let’s continue others.
Chapter VII: Innovation is the life of enterprise
Innovation is the driving force for development of the core, is the inevitable result of market competition. Only through innovation enterprise can break the routine, break traditions; only constant innovation can be invincible forever in stimulating competition.
77. Davidow’s Law: continue to create new products and eliminate old products
78. Path dependence: step out of a fixed way of thinking
79. Flea effect: managers do not self-handicapping
80. Buren Law: Failure is also an opportunity
Chapter VIII: intelligence and strategy for decisive competition
The 21st century is a highly competitive age. The biggest weapon for survival is competition. In this contest, the management of the methods of competition, competitive strategy and competitive means will become a key factor in corporate victory or defeat.
81. Dogs mastiff effect: let enterprises to survive in the competition
82. Zero and game theory: to achieve win-win situation between competition and cooperation
83. Superfish rule: speed determine success or failure of competition
84. Matthew: Only the first, there is no second
85. Niche’s Law: to find differences in competition, to achieve dislocation management
86. Monkey – Elephant Law: small win over large, the weak win over the strong
Chapter IX: details determine success and failure
The inequality of details implies that 1% of the errors led to 100% failure. The failure of many enterprises is often because of the details having not been coped well. Into any details been done, companies will not be within a problem.
87. Broken Windows effect: timely correct and remedy the problem that is occurring
88 Domino effect: all goodness is hard if only one goodness, while all will be bad easily if only one bad
89. The Butterfly Effect: 1% of the errors led to 100% of the failure
90 Hein’s Law: any unsafe incidents are preventable
91. Wang Yung-ching’s Law: to save a dollar is equal to a net profit of a dollar
Chapter X: playing marketing card excellently
No successful marketing, no successful enterprises. Marketing activities are the ultimate means to achieve profits. In the market homogenization of highly competitive products, marketing often determines the success or failure of business.
92. Veblen effect: the higher commodity prices, the easier it will be selling
93. “100-1 = 0″‘s Law: Let every customer satisfied
94. Tank Theory: find the most essential needs of customers
95. Bullwhip Effect: Enhancing Supply Chain Management
96. Frisch’s Law: no employee satisfaction, there is no customer satisfaction
97. 250 Law: Do not neglect any one customer
98. Brit Theorem: make full use of the role of advertising promotions
99. Nirenberg’s Law: in success of negotiations, both sides are winners
100. Weite Lai Law: starting from the people do not want to

You quit your day job and are ready to delve into an easy work at home business. It is a piece of cake to work at home and not have to deal with corporate rules or office politics, right? While working from home does give you a newfound sense of freedom and relieves you of problems associated with working for someone else, it too can be tricky. There are some pitfalls of owning your own business and working at home.

1. Poor budgeting skills. Budgeting for a home based business is difficult because there is no guarantee for income. You can’t pay bills and spend money from your business account hoping that next week or next months will bring in better results. Another common problem with budgeting is spending too much or not enough money on advertising. You have to strike a balance to get word out about your business and get more sales without breaking the bank.

2. Expecting overnight success. Some people are under the misconception that the minute their business goes live on the Internet that they will be swamped with business and the money will start flowing in immediately. Unfortunately, this is rarely the case. Work at home businesses take time to develop and grow. Steer clear of anyone who promises a get rich quick scheme or overnight success. These are just tactics to get you excited to sign up with them and make them more money.

3. Not researching enough. Some things need to be done before you can start a work at home business. Discovering your niche and finding out who your target audience is need top be researched. Knowing the demand for your product or services is also important. Strengthen your business from the get go by doing research in advance.

4. Poor choice of product. Choosing a product that is difficult to sell because there is no demand for it, a product that is of poor quality or one that makes very little profit can ruin a work at home business. The future of your business is dependant on your product and customer service. Your business will suffer if either of these is lacking.

5. Not having clearly set goals. Every business needs a game plan. You need a list of clear cut goals for your work at home business to map out your success. Winging it is not necessarily the best way to go as far as business practices.

6. Having trouble separating work and home life. It’s late, you need to put dinner on the table, get the kids to bed and finish the laundry. The only thing is you still have work to do. Finding balance between work and home life can be a challenge for work at home business owners.

7. Quitting your day job too soon. Quitting your day job before securing enough income from your home based business can prove to be a big mistake, especially if you depend on your job for health insurance, stock options, retirement benefits or other company perks.

The truth is that one third of small businesses fail within the first two years. You can avoid being a part of this statistic by being prepared and avoiding common pitfalls associated with work at home businesses.

Department of Employment Generation and Training

It is to understand nomenclature has changes not the ACT of 1959

Employment Department, Punjab has changed its name from Department of Employment Punjab to Department of Employment Generation and Training, Punjab.

After the 2nd world war in 1945, for orderly absorption of the released service personnel and other war workers; the need for an organisation to handle this complex problem in a uniform manner was felt and in July, 1945 “Directorate General of Resettlement and Employment ” was set up

In 1947, after partition of the Country this Directorate was entrusted the job of resettlement of a large number of displaced persons (refugees).

In early 1948, the Employment Exchanges were thrown open to all categories of applicants which required transition of Employment Service from a resettlement agency to an all India placement organisation.

On 1-11-1956 the day to day administration of the Employment services was handed over to the state governments. So now the Employment service is the joint concern of the Central and State Governments where the Central Government formulates national policies, standards and procedure to be followed by the Employment Exchanges in the states; coordinates the work of the Employment Exchanges in the states; plans and formulates programmes for expansion and development of the services; conducts training programmes for employment officers and other such works which are required for the betterment of these services whereas State Governments fully control the Employment Exchanges in their respective states.

In 1959 The Employment Exchanges Compulsory Notification of vacancies Act was enacted by the Parliament and after notification of its rules, it came into force from 1-5-1960. Under the provisions of the Act all the establishments in the public sector and all the establishments in the private sector normally employing 25 or more workers are required to notify their vacancies and also render quarterly and biennial returns to the Employment Exchange of their area.

Creation of new Department of Employment Generation A new Department of Employment Generation and Training has been carved out of the Department of Labour and Employment vide Govt Notification No. 18/16/2007-GC(2)/7219 Dated 11-04-2007 and 31-07-2007 with the following main objectives:

To develop a vision, strategy & policy framework for employment generation & training

To suggest measures to derive synergy of the plans and programmes of various departments working directly or indirectly for employment generation and vocational training.
To advise on institutional and organizational mechanism for effective implementation of the action plan for employment generation and the vocational training to make the youth really employable by enhancing their skills and competencies.
To regularly plan, implement, monitor and oversee employment generation action plans in the State and advise on the future steps to be taken.
To facilitate manpower planning and vocational training in all the key sectors of the economy.
Bringing out critical gaps in various services sectors and facilitate addressing these gaps as per the requirement of the national and international market.

To identify and advise on the regulatory aspects of job oriented training policies.
Facilitate establishing more job oriented vocational institutions in the Public Private Partnership Mode in line with the requirement of skilled manpower and enhancing the capacity of the existing institutions.
Harnessing the potential of various self help youth groups and educational organisations of repute.

Present Functions of the Employment Department:   1. Registration of job seekers for placement against notified vacancies. 2. (a) Providing education and vocational information to students, applicants and parents. (b) Collects compiles and disseminates information about various self employment schemes being offered by various departments of the state. The Employment Officer identifies and motivates candidates from the Live Register for adopting self employment as a way of life. (c) Prepares and distributes career literature free of cost to schools, colleges and libraries. Available career literature in English language is also translated into regional language for its better understanding at the grass root level. 3. Under the Employment Market Information programme information of the manpower market is collected and compiled for state and national level planning. 4. The department works for the implementation of various sections of The Employment Exchanges (Compulsory Notification of Vacancies) Act, 1959. 5. Disburses unemployment allowance to Educated Unemployed applicants registered with the employment exchanges with specified terms & conditions as per “The Punjab Payment of Unemployment Allowance to Educated Unemployed Persons Rules – 1978”. 6. Provides employment assistance and guidance to persons desirous of going abroad through its Overseas Employment Cell. 7. A special employment exchange provides employment services to disabled persons by approaching employers and motivating them to employ physically challenged but otherwise eligible applicants. 8. Implements employment related sections of “Persons With Disabilities Act 1995″. New functions and roles of the Department In addition to the present functions, the Department will be performing following new functions:

i) Enhance the employability of Punjab Youth by improving their Vocational and soft skills

ii) Vocationalisation of education system at school and college level and to facilitate Vocational training for school drop-outs and informal sector

iii) Promote Entrepreneurship and self-employment

iv) Prepare Punjab Youth, through rigorous trainings, for employment in Defence services and other jobs based on competitive examinations.

v) Fully prepare Punjab youth for overseas opportunities through enhancement of vocational skills and foreign language skills and by providing emigration assistance.

vi) Upgrade Existing Employment Exchanges to Electronic Employment & Training Bureaus

vii) To make available some of the employment services through Suwidha Centres at District/Subdivision level and Kiosks at village/ town level.

viii) Every University, deemed university and selected institutions to be notified as an e-employment exchange in their respective areas to make their services easily accessible.

ix) Conduct Manpower Survey and Job Survey to assess skill and competency gaps.

x) Vocational Awareness, Counseling and Guidance to Punjab Youth, administering profiling tests.

xi) Identification, Fine Tuning and Design of Training programmes.

xii) Apprenticeship training to be effectively administered and monitored

xiii) Active involvement of C-PYTE in every district for training of youth is important.

xiv) Make it compulsory for all the institutions and selected schools to establish at least 20% to 30% seats on Vocational Education by addition/ conversion

xv) Examination and certification of training and skills

xvi) Liaison for placement of Youth with corporate, recruitment agencies

xvii) Organise Job festivals, job melas, seminars, conferences etc. for job placements

xviii) Foreign Training and Employment Bureau for providing employment assistance, guidance, and training to the Punjab Youth desirous of going abroad for employment and business opportunities in the foreign countries like Canada, USA, Europe, Australia, Middle East etc.

xix) Liaison with foreign manpower ministries and employers

xx) Check on the activities of unregistered agents.

xxi) Pre-Departure cum orientation programme.

Society has a way of convincing us that wealth arises from those that work hard and get a well paying job in some financial institution on Wall Street. While I do not dispute that you can get really wealthy managing other people’s money as a fund manager or if you like to run an investment company like Warren Buffet, you can join in the fray. For the most of us, we just like to do our own thing and enjoy the freedom that exists in creating our own perception of a business.

Entrepreneurship therefore represents a leap into the unknown world and one of the most important means today of creating wealth while still retaining your own freedom. This concept of entrepreneurship is not new and existed many years ago when the founding fathers were still roaming the new world and carried with them this profound sense of adventure. Would you like to experience this kind of intensity and excitement in your life today? This article will highlight three ways to get started.

Firstly, decide if your current field is for you. Some people actually love their field of work but hate their job. If you fall into this category, then spend some time learning all you can about your business and then start brainstorming about possible alternatives related to your current industry. For example, many venture capitalist companies in the valley have amongst them experienced dot com CEOs that add their wealth of experience the deals that they do. Other stories include people who start selling their former company’s items and later became large dealer wheelers who are big time traders.

Secondly, figure out how to get into the industry of your dreams. Assuming that you want to change career or profession, getting an MBA may be actually a good bet if you think you are the academic sort. Else, why not get a job in a related industry. For example, stories abound of accountants, lawyers who find jobs in fortune 500 companies and later become the CEOs of such companies.

Thirdly, “chicken hearted entrepreneurship” is a term that Michael Masterson in the Early to Rise Ezine advocates that I agree with. Get a job that will give you enough money to test your business ideas each month and test your market. The internet allows you to test various money making ideas and learn what actually works and can make you money. Focus your off work time on certain segments of your business daily and have unwavering faith.

In conclusion, making money via entrepreneurship is critical to generating wealth on an exponential basis. By all means get a job as that will be part of the process, but remember real wealth is obtained when your get equity in a business rather than remaining as a mere employee. Take action today to reach your wealth dreams!

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