How to Track Business Expenses for Soaring Profits

Establishing a business is a huge financial responsibility for an individual. An innovative and strategically active mindset has to inculcated, to bring success in all business endeavors. Small business proprietors have to play multiple roles in the business, wherein they have to take into account the monthly transactions, expenses and the revenues generated by their business. For them it is very important to remain organized and updated about the revenues and the expenditure.

How administrative management contribute to the implementation of strategic decisions?

Administrative managers play the most significant role in translating strategic vision into solid steps that helps organization to implement strategies. Reinhardt and Stavins (2010) opined that good administration is necessary for the success of all organization. The success of strategy implementation heavily depends on the interpersonal skills of administrative managers and on the way they get the job done.

What is strategic drift? What are the possible ways to avoid strategic drift?

What is strategic drift? 

Strategic drift is a concept of strategic management that refers to the response of organization when going through a changing environment. Different situations and unexpected challenges are very common aspects that may arise anytime when driving and developing strategic change within the organization. Strategic drift can be defined as those situations for which organizations fail to result the expected strategic outcome.

Revolutionary Approach VS Evolutionary Approach

Managers deal with many challenging situations when positioning their organization one step ahead in competitive advantage. In order to achieve competitive success, every business organization strives to bring change that has a positive impact on the way the business process operates (Haberberg and Rieple 2008).

How leaders contribute to organizational change?

Change is a very frequent organizational incident. To express the inevitability of change, Dr.Alex Krauer stated that "Whether we like it or not, change is with us. We either actively participate in it or passively ignore it. In the latter case, the future will punish us." Mark A Morgan, managing director and head of Gulf onshore, Citigroup Private Bank, commented that "Leadership is about being adaptable to change and uncertainty”.

What are the roles of leader as team builder? How to motivate team members?

When it comes to leading and managing a team of subordinates, the role of leaders is crucial for the high performance of the team. The role of leader as a team builder will be discussed in the light of Tuckman’s stages of group development model. According to Tuckman (1965), there are four important phases which is essential for every leader to make it sure that their teams go though these phases.

How the personality of leaders influences leadership behavior?

The personality of leaders has a significant influence on the way they sense, think, believe and communicate with other people. Leader’s personality influences their behavior, controls their attitudes, and affects the way they perceive about things. Both perception and attitude play an imperative function in forming leadership behavior.

How situations, personal values and organizational values influence leadership behavior?

Whenever a new critical situation arises, leaders take on different handling techniques based on the leadership styles they are following and the nature of the situation. Leadership styles are not a concrete thing that has to be followed in a strict manner. Different types of critical situations may arise in the way of accomplishing the goal; however, it is not necessary to stick to a specific leadership style in all situations.

How people become leaders? How followers help establish a successful leadership profile?

The theory of leadership states that leaders are made, not born. Fortunately, leadership is not a gifted thing; rather it is a skill that needs to be earned through education, experimentation and hard work. To experience the taste of success being an excellent leader, individuals should always be willing to learn and practice new things.

How leadership success can be measured?

Some tips for measuring the leadership success are given below:

• Determine whether the leaders encourage innovation
• Evaluating whether they are good at organizing meetings in an efficient and effective manner
• Understanding leader’s capability in terms of communicating the organizational goals and vision to employees

How does the role of leadership help in achieving organizational excellence?

Role of leadership in achieving organizational excellence: In order to be able to achieve organizational excellence, a leader must play these three roles described below:

1. Leading with Vision, Inspiration & Integrity

What are the roles of a leader?

The overall advancement of a business in achieving its goals and objectives heavily depends on the skills and capabilities of the senior management teams. Many business scholars opine that senior managers play even more vital role as leaders in the context of a small and medium size enterprise. Before we discuss more about the importance of a leader’s role in a contemporary small or medium size business organization, it is important to understand the definition of leadership.

How important it is to achieve strategic fit? (Baby Care Provision)

“Strategic fit” is an often-used term in strategic goals. It is a crucial part of strategic process management. Two important key factors that help organization achieve strategic fit are the planning and implementing strategy. Strategic fit portrays an organization’s ability to utilize its resources and depicts how well it is performing in making the most of the internal and external environmental issues as well as strengths and opportunities.