Employee engagement that bonds trust in workplaceKhrisma Khrisma
This article is inspired by the two people who had ever worked together as a team when I was waiting for my last bus home. They're seemed cool in their way talking to each other.
Employee engagement that bonds trust in workplaceKhrisma Khrisma
This article is inspired by the two people who had ever worked together as a team when I was waiting for my last bus home. They're seemed cool in their way talking to each other.
You need to take care of the connection and the quality of the relationships you have with others. Not being able to connect will give you a difficult time at the work place and outside.
Educaterer India is an unique combination of passion driven into a hobby which makes an awesome profession. We carve the lives of enthusiastic candidates to a perfect professional who can impress upon the mindsets of the industry, while following the established traditions, can dare to set new standards to follow. We don't want you to be the part of the crowd, rather we like to make you the reason of the crowd.
Today's Effort For A Better Tomorrow
The buddy system is a procedure in which two people, the "buddies", operate together as a single unit so that they are able to monitor and help each other.
How to Build a Stronger Happier Workplace - whitepapersmartOne Prepaid
The first thing employees refer to when rating their overall job satisfaction is their "work environment". Creating the right work environment is crucial to your brand within the corporate community.
Read "How to build a stronger, happier workplace" for insight and suggestions that can help you make a difference.
In politics, business, and education, individuals need to be held .docxbradburgess22840
In politics, business, and education, individuals need to be held accountable for their actions. Unfortunately, too many people do not know what it means to be accountable. This chapter discusses the concepts of accountability and workplace relationships. The concepts of empowerment, responsibility, and accountability are all about personal choices. These personal choices not only impact how successfully you will perform at work but have a tremendous impact on workplace relationships.
In chapter 5 we discussed power bases and how workplace power affects politics and ethical behavior. Employees in the workplace have power. Unfortunately, many people in the workplace do not use their power appropriately or at all. As companies place an increased focus on quality and performance, correct decision making by employees becomes more and more important.
Empowerment is pushing power and decision making to the individuals who are closest to the customer in an effort to increase quality, customer satisfaction, and, ultimately, profits. The foundation of this basic management concept means that if employees feel they are making a direct contribution to a company's activities, they will perform better. This will then increase quality and customer satisfaction.
Consider the case of a manager for a retail customer service counter telling his employee to make the customer happy. The manager feels he has empowered his employee. However, the next day, the manager walks by the employee's counter and notices that the employee has given customers refunds for their returns, even when the return did not warrant a refund. The boss immediately disciplines the employee for poor performance. Didn't the employee do exactly what the manager asked the employee to do? Did the manager truly empower his employee? The answer is no. Telling someone to do something is different than showing someone the correct behavior. The employee interpreted the phrase "make the customer happy" differently from the manager's intention. The proper way for the manager to have empowered the employee would have been to discuss the company's return policies, role-play various customer scenarios, and then monitor the employee's performance. If or when the employee made errors through the training process, the wrong behavior should have been immediately corrected while good performance should have immediately received positive reinforcement.
When you, as an employee, demonstrate a willingness to learn, you have taken responsibility. Responsibility is accepting the power that is being given to you. If you are not being responsible, you are not fully utilizing power that has been entrusted to you. The concept of empowerment and responsibility is useless without accountability. Accountability means that you will report back to whoever gave you the power to carry out that responsibility. Employees at all levels of an organization are accountable to each other, their bosses, their customers, and the com.
You need to take care of the connection and the quality of the relationships you have with others. Not being able to connect will give you a difficult time at the work place and outside.
Educaterer India is an unique combination of passion driven into a hobby which makes an awesome profession. We carve the lives of enthusiastic candidates to a perfect professional who can impress upon the mindsets of the industry, while following the established traditions, can dare to set new standards to follow. We don't want you to be the part of the crowd, rather we like to make you the reason of the crowd.
Today's Effort For A Better Tomorrow
The buddy system is a procedure in which two people, the "buddies", operate together as a single unit so that they are able to monitor and help each other.
How to Build a Stronger Happier Workplace - whitepapersmartOne Prepaid
The first thing employees refer to when rating their overall job satisfaction is their "work environment". Creating the right work environment is crucial to your brand within the corporate community.
Read "How to build a stronger, happier workplace" for insight and suggestions that can help you make a difference.
In politics, business, and education, individuals need to be held .docxbradburgess22840
In politics, business, and education, individuals need to be held accountable for their actions. Unfortunately, too many people do not know what it means to be accountable. This chapter discusses the concepts of accountability and workplace relationships. The concepts of empowerment, responsibility, and accountability are all about personal choices. These personal choices not only impact how successfully you will perform at work but have a tremendous impact on workplace relationships.
In chapter 5 we discussed power bases and how workplace power affects politics and ethical behavior. Employees in the workplace have power. Unfortunately, many people in the workplace do not use their power appropriately or at all. As companies place an increased focus on quality and performance, correct decision making by employees becomes more and more important.
Empowerment is pushing power and decision making to the individuals who are closest to the customer in an effort to increase quality, customer satisfaction, and, ultimately, profits. The foundation of this basic management concept means that if employees feel they are making a direct contribution to a company's activities, they will perform better. This will then increase quality and customer satisfaction.
Consider the case of a manager for a retail customer service counter telling his employee to make the customer happy. The manager feels he has empowered his employee. However, the next day, the manager walks by the employee's counter and notices that the employee has given customers refunds for their returns, even when the return did not warrant a refund. The boss immediately disciplines the employee for poor performance. Didn't the employee do exactly what the manager asked the employee to do? Did the manager truly empower his employee? The answer is no. Telling someone to do something is different than showing someone the correct behavior. The employee interpreted the phrase "make the customer happy" differently from the manager's intention. The proper way for the manager to have empowered the employee would have been to discuss the company's return policies, role-play various customer scenarios, and then monitor the employee's performance. If or when the employee made errors through the training process, the wrong behavior should have been immediately corrected while good performance should have immediately received positive reinforcement.
When you, as an employee, demonstrate a willingness to learn, you have taken responsibility. Responsibility is accepting the power that is being given to you. If you are not being responsible, you are not fully utilizing power that has been entrusted to you. The concept of empowerment and responsibility is useless without accountability. Accountability means that you will report back to whoever gave you the power to carry out that responsibility. Employees at all levels of an organization are accountable to each other, their bosses, their customers, and the com.
10 Must-Have Work Ethics in Daily Work RoutineHatem Ramadan
Work ethics are defined as set of values and beliefs that drives one’s behavior in the workplace towards colleagues, managers and probably customers as well. A healthy environment is mainly based on group of people with positive work ethics communicating with each other, therefore all companies and big organizations are embedding certain ethics in their internal charters to encourage its employees to closely observe their work attitude.
In these slides I’ll share with you my thoughts on the most important work ethics based on real work-life situations of which it had a great impact to boost my career and others in a way much further.
https://www.linkedin.com/pulse/10-must-have-work-ethics-daily-routine-hatem-ramadan
So today – I want to talk about growth in your career. How to get promoted in your current job. I am going to share a couple of tips that you can apply in your work life to get noticed and promoted in your current job role.
05 managing conflict in organizations and dealing with unethical choices c...Nevion
There is a clear tendency to identify trouble makers based on individual’s perceptions or past experience. We often relate to someone else behavior, on single characteristics that are dominants. In other circumstances we are comparing behaviors in the same group assuming that all individuals belonging to that group shall behave the same way. This is forcing individuals to adapt their behavior in that group, not necessary producing the best outcome in term of performances or motivation.
On the Job SuccessIn this section, we will cover some basic tips.docxhopeaustin33688
On the Job Success
In this section, we will cover some basic tips and techniques that might help you succeed once you have landed that great job and are ready to start your career. Like all the information included, there is no golden ticket or cheats along the way. Instead, these best practices and suggestions are a collection of common knowledge and proven experience.
Being successful at work has a lot to do with your attitude and candor. Your personal characteristics as well as your behaviors in groups and the organization as a whole reflect on your performance and ability. The recognition and development of your soft skills as well as your ability to adapt to organizational culture, understand power, and create healthy relationships with your supervisor and peers will more often than not help you become a more successful employee. We will also discuss how to become knowledgeable about your job, how to execute and excel in your given responsibilities, and what some of the advantages are to continue your education as a lifelong learner. The follow sections will elaborate on these strategies to employ that can lead to greater job success.
A Positive Attitude and Other Tips for a New Job
Especially when you start a new job, there are a lot of things you need to learn. It probably won’t be expected that you know how to do all of your job duties perfectly when you first arrive but by presenting yourself appropriately and by properly managing the areas that you can control, you will find that the rest will come pretty easily. Most of the following tips and techniques are good suggestions for a new position but should continue even after you are more established with a company.
· Stay positive. Forget the wrist; it’s all in the attitude. Keeping a positive attitude about your responsibilities, new tasks, challenges, and the company as a whole is an amazing step toward success. Your enthusiasm and eagerness to try new things, handle pressure and frustrations, and stay optimistic through diverse situations will not only keep you in good spirits professionally but will make you a stand out for new opportunities and a pleasure to work with.
· Try your hardest and learn from mistakes. It could be interpreted to be two separate actions but your ability to give 100% of your effort is actually very closely tied to the errors you will make. Mistakes are inevitable; you will make them. Be accountable for your actions by being able to say that did your very best and takeaway a lesson learned to avoid the same mistake again later.
· Be respectful. There are many things to learn from your new colleagues. Demonstrate your willingness to learn from their experience by valuing their opinions, being grateful of the assistance they offer, and treating everyone (no matter their position in the company) with the respect you feel you deserve in return.
· Be a team player. It is not likely that your job functions will be completely autonomous. You will most likely.
BENEFITS
High moral in the organization, high productivity, increased profit, Labour stability, effective branding, ever increasing output of goods and services
Good communication skills are crucial in a leader if they are to remain a leader. A leader can be defined as someone who plays a prominent role in a business or a department within it. There are also religious, political and community leaders, leaders of groups and teams, and so on. In this guide, we will be looking at business leaders and how good communication skills are an important part of effective leadership.
Assignment 2: Leading and Managing the HR Project
HRM 517: Tony Denkins
Gabrielle McNeely
April 28, 2019
A project manager role is to play as a role model for the team. You have to show leadership skills to prove you’re able to lead a team because you have everyone watching and depending on you to do the job right and one mistake made by you can make everyone look at you different; therefore, it’s important to understand and know the different aspects of a leader and implement those characteristics on a daily basis. As a project manager, there are different powers to get individuals to perform, so the two powers that I use for my project is reward and expert. The reward power is used by acknowledging my team for doing good, and by using this power as a team we give eachother positive feedback instead of negative feedback with the advantage of asking each team member what they think they did good and what they think they did wrong for them to recognize there own mistakes. The expert power is by having someone that's experienced play the role as an example to lead the new team members down the right path to get the job done. The project manager will ensure to guide the team in the right direction to equip each member with the qualities to become leaders within themselves to take on different roles as time progress. As a manager, you have to conduct some type of training to educate your team on there duties and responsibilities as well as reward those who are staying on top of things and making an effort to participate and engage in the activities to understand the job. These two powers will allow our team members to feel as if they are being valued by offering recognition certificates and time to understand the job before being hit with the pros and cons of the job. It’s important as a business to value its employees and understand the needs of the company is to make a change by doing the job accurately without any potential risks that could harm the business. Within any team project, there are always different challenges as individuals you will be faced with, and sometimes as individuals, we let our challenges get the best of us which can create conflict and confusion on the job amongst other team members. Different challenges such as communication issues, miscommunication or jealousy between team members, corporate internal issues, staying on track as a manager to reach all expectations, and many more. These common problems can either make or break a company reputation as well as create barriers between certain team members, which can result in a lack of work ethic on the job. Communication is important when working with a group of people on any job, but it’s also easier for individuals to communicate the wrong message to others, which can cause conflict within the organizations. As a team, we will all communicate in a positive manner and respect each other’s ideas, and by doing so when someone is talking as a team we will actively .
The most important aspect of any effective communication is knowing your audience. This
audience will vary, so being flexible in your communication styles is a great skill for any leader
to have. In the course of a single day as the leader of a business or department, you might
speak to:
Staff
Shareholders
Business partners
Take a moment to look over the prompts below and formulate a conce.docxDustiBuckner14
Take a moment to look over the prompts below and formulate a concept of the managerial excellence you will seek to practice as you grow in life and your career.
This will be your Ethical Leadership Pledge.
Do look to examples in your textbook such as Volkswagen, IKEA, Deloitte or any others (in or out of the class) for inspiration.
Please write your pledge opening with
"As a leader I pledge:" [then continue based on the items below]
1.
Core Values:
a) List 3 (or more) values that define your leadership style
b)
Describe in detail what each value means (don't just put up a word, offer context and depth in 2-3 sentences each)
2.
Team building:
a) Describe your process for finding talent, building and incentivizing team strength (2-3 sentences)
b)
Some additional inspiration:
c)
Servant-leadership is the idea that a leader's job is to facilitate and not to dictate. Here are some core values to consider:
i.
Encourage diversity of thought.
ii.
Create a culture of trust.
iii.
Have an unselfish mindset.
iv.
Foster leadership in others.
3.
Earning trust/buy-in (3-4 sentences)
a) Detail how you will build trust
b) Describe how you will earn your team's "buy-in" (meaning how you will persuade them to see value)
c)
Some ideas to consider: Evidence-based management (using testing and research to reduce workplace politics), instilling best practices (hopefully this class has given you many), communication & collaboration, sharing ownership, de-centralizing/centralizing decision-making, providing good governance
d)
Please use at least 2 concepts from Chapter 12 (though some are in the list I've given you above)
4.
Elaborate on how you will practice and instill ethics best practices
a) Reference at least 3 concepts from Chapter 9
b) You are free to expand after you reference 3 concepts.
· These prompts are the minimum expected. You may venture beyond should you so choose.
· YES, you may write in FIRST PERSON! This is about you and there are NO wrong answers.
· Please copy this to a document and keep it so you can reflect on it after class has finished and iterate upon it as you grow as a leader.
Comment on TWO other classmates posts offering feedback on at least TWO concepts they have shared that you are willing (or inspired) to consider adding to your own leadership pledge.
Student1:
As a Leader I Pledge: My core values are trust, hard work, and work life balance. Trust is very important in my book because of the fact that nothing can be accomplished successfully without a trustful team. I can not lead an unloyalw team, that does not have a foundation of trustworthiness. I believe everyone has the ability to work hard if they are passionate about something and I think one should only work with what they are love. Hard work a.
As an HR manager, you know a company is only as strong as its employees.
Your employees are the backbone of your company. They are the ones who interact with customers, produce products, and provide services.
In many ways, they are the ambassadors of your brand, and their interactions with customers can either reinforce or undermine your brand identity.
That’s why knowing what qualities to look for in new hires is essential.
By finding candidates who align with your company’s values and providing them with comprehensive training, employees will be able to represent your brand effectively. So, what should you look for?
1. Identifying the qualities of a good employee
2. The 7 qualities of a good employee
3. The importance of hiring the right people
4. Your employees with either make or break your business
For professional development, I need to use evidence to analyse and incorporate the experiences so that I can form an instructive part for my future practice and work. Professional growth and development is strongly encouraged. So it is advised to become involved with professional associations (Boyle, 2013, p.12). I should participate in professional conferences. Involvement and attending in conferences, helps to develop in professional skills as well as forming and maintaining professional relationship with colleagues. Placement can put me at a distinct advantage when applying for future employment.
Similar to Selection of Right Partner in Business or Partnership firm (20)
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
What are the main advantages of using HR recruiter services.pdfHumanResourceDimensi1
HR recruiter services offer top talents to companies according to their specific needs. They handle all recruitment tasks from job posting to onboarding and help companies concentrate on their business growth. With their expertise and years of experience, they streamline the hiring process and save time and resources for the company.
Kseniya Leshchenko: Shared development support service model as the way to ma...Lviv Startup Club
Kseniya Leshchenko: Shared development support service model as the way to make small projects with small budgets profitable for the company (UA)
Kyiv PMDay 2024 Summer
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Youtube – https://www.youtube.com/startuplviv
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Affordable Stationery Printing Services in Jaipur | Navpack n PrintNavpack & Print
Looking for professional printing services in Jaipur? Navpack n Print offers high-quality and affordable stationery printing for all your business needs. Stand out with custom stationery designs and fast turnaround times. Contact us today for a quote!
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
Editable Toolkit to help you reuse our content: 700 Powerpoint slides | 35 Excel sheets | 84 minutes of Video training
This PowerPoint presentation is only a small preview of our Toolkits. For more details, visit www.domontconsulting.com
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...
Selection of Right Partner in Business or Partnership firm
1. Master in Business Administration (Finding a Right Business Partner) Dhiru Prashant Sah
DHIRU PRASHANT SAH 1
Partnering For Success (Finding the Right Business Partner)
Q. 1. Think about your personality & work habits. What type of person (in terms of
personality & work habits) do you think you would work well with that & what type of
person do you think you’ll be in constant conflict with?
Personality refers to the combination of characteristics & qualities that form an individual’s
distinctive character. Personality affects all aspects of a person’s performance, even how he/she
reacts to situations on the job. Good personality leads to increased productivity & job
satisfaction, helping business function more efficiently.
As per the above question, talking about myself, I am of extrovert nature or have an outgoing
personality. I am a team player and can work well in groups. Outgoing personalities often work
best in the positions where they get to interact with others. On the other hand, I might not be able
to flourish in the position that keeps me behind closed doors, separated from others.
The type of person that works well with me are mentioned below:
1. Passion:
The person should be of passionate nature. He/she should as much passionate as I am
about the business/work. If he/she isn’t willing to work hard/do whatever it takes to meet
the goals, the business might not survive.
2. Reliability:
I prefer someone whom I can rely on. It is important to look out for signals that indicate
whether the person can be trusted to run the company or not.
3. Ability to build strong relationships:
As I’m more of outgoing nature, I prefer someone who has access to extensive network
of potential clients, industry influencers & investors by which I can increase the public
relations for the prosperity of the business.
4. Fiscal responsibility:
As I’m not so much aware about financial situations, it is important to have someone who
knows how to manage money & hasn’t landed in any serious financial trouble in the past.
5. Extended skills & experience:
2. Master in Business Administration (Finding a Right Business Partner) Dhiru Prashant Sah
DHIRU PRASHANT SAH 2
I would prefer someone who fills the gaps. For eg: If I’m a web developer, I would prefer
someone who brings other competencies that I need for the venture such as
marketing/finance.
6. Compatibility:
For working together, our personalities & work habits should be compatible. One should
be able to add up their views, opinions, ideas, etc. rather than having the same ideas. It is
important for us to be comfortable with the person we’ll be in business with as well.
7. Having common goals & aspirations:
It is very important for us to have the same goals towards the business. If the goals are
different, there is no use of partnering for separate goals.
8. Problem solver not a complainer:
I would prefer to work with someone who is more of a problem solver than a complainer.
Since problems may arise at any time in a business, it is important for everyone involved
to be prepared for facing the problems.
9. Attention to detail:
I give high preferences to people who tend to think of the big picture. These people not
only help us to see where the company is but where it could be in the future.
Now, moving on to the type of person which I would be in constant conflict with which is
mentioned below:
1. Resistance to change:
Change can be stressful and often result in conflict between team members since people
get stuck in their habits because they are familiar & easy to follow. Hence, I find it
difficult to co-operate with people who resist change.
2. Unclear job expectations:
Some people are very distinct and clear about their jobs responsibilities as every position
has a learning curve that plays a big role in the future success of an employee. It is
important for my co-worker to know my expectations from them. If they are unsure, it
may lead to getting unsure of how to perform efficiently and result in conflict.
3. Poor communication:
3. Master in Business Administration (Finding a Right Business Partner) Dhiru Prashant Sah
DHIRU PRASHANT SAH 3
Many conflicts happen because of poor communication. There is so much room for
misunderstanding at every stage which creates many opportunities for conflicts to arise.
4. Toxic work environment:
The way people feel about themselves & others in a workplace greatly affects the
productivity. Loving our job doesn’t only mean enjoying everyday tasks but also involves
being a part of happy working community. I would not prefer working with someone
who holds grudges towards me for some business decisions but would prefer if the person
tries to solve the problem by communicating with me.
5. Differences in personality:
It is not necessary to become friends with everyone we meet but is necessary to have a
level of mutual respect for a healthy workplace.
6. Poor work habits:
Certain habits can affect the performance of the whole team, cause irritation & spark
conflicts. I would not prefer someone who possess certain habits such as lack of
punctuality, someone who has negativity/anger towards other resulting in gossip about
others & who is disorganized & misses deadlines of the tasks assigned. These behaviors
make it difficult for everyone in a workplace to deal & cope up with.
2. Do you think, it’s a good or bad idea to form a business partnership with a close friend?
How could you go about discerning if a good friend would make for the good business
partner?
Businesses are generally done in order to make some profit. And while doing business either it is
owned solely with autocratic management system or done in partnership to ease up the burden
and may allow expanding into a more dynamic approach. And business in partnership is like a
marriage- which includes trust, communication, honesty, respect and the ability to compromise.
We also value these same traits when looking to build a business partnership.
As we all know that there are pros and cons to start up with a close friend. Similarly it also
consist some of them. So I go with the cons while choosing close friend as the partners:
We know that we should not mix business with the pleasure; if it goes wrong it may
create hindrances and sour the relationship and may hurt the business process too.
4. Master in Business Administration (Finding a Right Business Partner) Dhiru Prashant Sah
DHIRU PRASHANT SAH 4
It will be tough to manage the friendship when business when business needs to be in
priority.
Any personal relationship you had with that friend will cease to exist once the company
starts to generate money.(most of the cases)
When businesses are done with close friends they tend to ignore contracts(less
important). But having tight contracts is almost more important when working with a
friend so that conflicts don’t turn personal.
In a business, it's not always that favorable to take decisions that may or may not be good
with friends. Regardless in business it should be from business point rather than
friendship.
It would be very difficult to create, plan and follow the clearly defined business rules.
Emotions can often override good business sense.
The goals that we are dreaming may be different from our friends.
It’s easy to destroy a friendship when that happens, so we end up losing our business and
friend too.
Here, working with friends in business can be an amazing experience. It can also be a real
challenge too. So it would be very tough to be judgmental if a good friend could make for the
business partners.
Since relationships as well as business are both the most important aspects to sustain for. Below
here are some of the points to be clear while choosing partners:
Be Clear: There must be clear understanding regarding the rules, norms, policy so that it
won't create any problem. In a business, business is prioritized more rather than friends to
sustain long term.
Be Apologetic: Having flexible human behavior helps to develop the long term
relationship in a business. If one has got the mistakes, doesn’t mean that one who has
done mistake should correct it’s the responsibility to make the mistake done. Since
partners are TEAM- Together Everyone Achieve More. Less egoistic is beneficial in
every organization. Instead of blaming it's your fault should be accepted as our fault.
Be Helpful: An apology means a lot more when a person tries to make things right.
Being helpful is the sign of good partners.
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Fix the problems: Not only blaming each other but also take the initiate that who can
solve the problem or have the idea would be better idea in doing partnership business.
Rather than waiting for someone else to fix the problem oneself.
Getting things in written rather than oral: In business there must be difference
between professionalism and personal relationship. If the difference is clear we would
rather go to written form rather than oral. Hence being in written format helps to achieve
the objectives.
Define Role from each of your strength: Everybody is not equal capable of doing the
same things. Some may have the capability of one thing and other people on other .Since
the nature of the people varies and the ability to deal with. So as per the ability and
strength the role may be defined so that it would be easier to solve the problem.
Celebrate the victories: Victories are the greater achievements which will be much fun
celebrating with the TEAM members. It is the symbol that we can do more in the near
coming days. But being extravagant is the bad symbol too. So as per the demand it should
follow the trend.
Match the expectations and goals: Goals may vary from one member to another so
there must be coordination among all .And there must not be vast difference between
expectation and goals. Since, expectations are the strongest hopes or beliefs that
something will happen or we can make things done.
3. Provide some suggestions, other than mentioned in the literature, for places(online or
offline) for finding a business partner?
When entrepreneurs have a business idea it is normal to look for an ally to help them make the
project a reality. This decision of experts in business management is one of the most important in
the development of the business, and should not be taken lightly. The right partner can help us
achieve our goals more quickly and efficiently. The success or failure of a business depends on
the choice of partners. So some of the suggestions for finding the right business partner are as
follows:
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1. Trust: Trust is one of the integral parts of business relationship. So we need to find
someone whom we can genuinely enjoy, like and trust. Mistrust is very difficult to
overcome and can doom a partnership.
2. Choose someone who shares common values: Successful partners generally agree on
standards regarding what is desirable, undesirable, good, and bad. These values guide
their actions, judgments, and choices. Your values shape your personal and professional
identities so they typically carry a strong emotional charge. So we should look for
someone who values honesty and practices good personal and business ethics.
3. Find someone who wants to grow and will support your growth: From birth to death,
each of us is consistently moving through a process of change. Sometimes, we are not
aware of the changes we're experiencing. And, sometimes change is viewed as a threat to
the status quo. Successful partners embrace change and growth, knowing that this attitude
benefits them both individually and as a team.
4. Find someone who have ability to resolve conflicts: When people share a close
connection, competing and avoiding are not effective conflict management strategies.
Instead, successful partners will use proactive and strategic approaches to conflict
management such as accommodation, compromise, and collaboration to resolve their
differences.
5. Find someone that can offer resources and credibility to the business: A business
partner with a secure business network, industry connections, client list or specific
credentials and expertise can also increase the value of business and improve the chances
of achieving long-term success.
6. Good communication and trust: Having confidence and a good communication skills
are very important qualities in business. The right partner should be a person with whom
you can have an efficient and constructive communication.
7. Choose a partner without a lot of personal baggage: It is very important to choose a
partner who doesn’t struggle with serious challenges in his/her personal life as it may
carry over into the business. Running a business takes focus, time and tremendous
energy, so if a partner is dealing with one personal crisis, it may effect in the business.
8. Find a partner that bring skills and experience to the business: The right partner must
have the qualities or skills that you do not have. A good business partner should have
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skills that support and compliment your own. The more skills you and your partner bring
to the business together the easier it will be to start, plan, grow, and run your business.
9. Open-Mindedness: Another quality that can be great to look for in a business partner is
the ability to keep an open mind. Collaborating with someone who isn’t receptive to
different ideas or perspectives could be difficult.
10. Respect: Respect is a necessary element to forming a successful partnership. The main
purpose of forming a partnership is to achieve success as a team. You should never
partner with someone that you do not respect. You may not value the opinion and efforts
of someone you do not respect at least on a professional level.
Therefore, a strategic part to achieve success in business is to choose the right partners. For this
reason, this stage requires a lot of reflection and time.
4. Spend some time looking at partner up. To what extent would you be comfortable using
this service to try to locate a business partner?
Partnership business stands for the business which is started with different partner with mutual
understanding to achieve the same goal. The relationship and the understanding of the partners
must be clear before starting the business. There must be the same goal before starting the
business.
The selection of the partners in the partnership business is really too hard to decide. The future of
the business totally depends upon the members involved to run the business. The member of the
business should have the same motive to run the business. The partners of the business must be
from different field while selecting of the partners to start the business.
The partners should have different knowledge about the business so that they can tackle any
situation of the business. The changes in the business world can be easily adoptable by all
partners so the partnership business can grow with the positive motive. The challenge in every
business is growing day by day. There is the necessary to have the different knowledge of the
external world by the team members, to grow the business and competitive with the other.
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The partners of the business are selected according to the business structure and motive. There
must be necessary of the different partners of different field to grow the business. All the
members of the business must be of different area or field with different knowledge to grow the
business with the same motive of the business. All the members of the business must have the
same objective and aim so they work together to achieve the goal.
The mutual agreement between them should be done before going in the partnership business.
There must be the fulfillment of the government rule and the legal agreement should be clearly
made among them before starting the business.
The difference in the partnership understanding and the mismatch on their behavior and there
working standard can create the conflict among the partners. They all should have been pre
covered their duties, responsibility, working standard and all the habitual work habit so they can
work freely among them. All the objective, rules & regulations, protocol etc. should be clearly
defined so that they partner selection and the working in the company will be smooth which
leads to growth of the company.
The togetherness of all the partners towards the single motive focuses to achieve the desired
goals of the business. The mutual understanding is necessary among the partners to run the
business in long run and achieve the long run goal of the company. There is the high chance to
create biasness and misunderstanding among the partners but all the biasness and
misunderstanding should be shot out among them in the starting point so, they can mutually
work for long.