The Do’s and Don'ts of business expansion
Source:
Business Partners Ltd. At one time or another, every business goes through a growth spurt and, whether it’s a multi-national corporation or an entrepreneurial enterprise, expansion is a tough process to navigate.
The real danger for any expanding business is that it does so too quickly or in an uncontrolled way. When this happens, cash flow and customer satisfaction are usually the first casualties and, in extreme circumstances, these can result in the demise of a once flourishing business. The trick is therefore to manage the growth process so you reap the benefits in the medium- and long-term.
Are there any rules to follow when facing a business expansion? Naturally, every business has its own challenges, so one can’t really set a generic set of rules for expansion. There are however, important things to bear in mind and some pitfalls to avoid so that everything goes smoothly.
Plan your expansion
Dealing with work overload
Source:
Times Ascent Dealing with employees who complain of work overload is a challenge that most HR professionals are facing increasingly often
Employees who are allotted more work than they can handle are likely to demonstrate diminished enthusiasm and productivity, face burnout, or quit the organization altogether. The main point that HR needs to keep in mind is that work should be distributed according to capacity and nature of work, rather than equally. “In my opinion, HR must play a vital role to apprehend work related stress for employees proactively by reviewing the attrition pattern in the organization and educate the team in distribution of talent fairly. Understanding the work-load balance and doing a reconciliation with the available manpower in the team to achieve the target etc. will also help organizations to come up with a proper allocation of work,” says Guruvayurappan PV, AVP, HR, Omega Healthcare Management Services.
HR Transformation-Can Technology Help?
Source:
Citeman HR For quite some time now the HR intelligentsia has been talking about changing HR role from traditional record keeping, personnel administration, system policing to that of a strategic business partner. Although it is becoming increasingly clear that business innovation can be helped by forward thinking human resources function there is reluctance on the part of top management in many progressive organizations to allow HR assume strategic partnership role.
What can HR do to change this perception? The answer lies in HR transformation and HR technology can help.
COST CENTRE TO VALUE CENTRE
Retail Sector: Underlining the expectations from Budget 2010
Indian Retail sector saw a tough year with some retailers closing their stores, some halting their expansion plans and many rethinking their retail strategies. To sustain the retail growth in
Expectation from Tax Reform
GST rollout is long awaited by the retail sector and retailers are in the process of gearing themselves to reap the benefits of the new tax regime.
R&D in the Indian SMEs : Challenge for the future
Introduction
In the ongoing globalization process of national markets, the role of technological capabilities becomes critical for firms’ survival and growth. The disappearance of inward FDI and import barriers that once protected national markets and the introduction of product patent regime recently have vastly expanded the strategic role of technology in the evolving competitive environment of national markets. While the large firms are well positioned to face these globalizing competitive challenges with their better strategic asset bundle, the resource-starved small and medium enterprises (SMEs) are expected to be at greater risks.
Hiring good employees is not only important to business, it’s essential
Source:
Best Management Articles Employees are the heart and soul of a business; they are the mechanism that makes a business run; they are the breath of life that enables a business to be something more than an idea.
A business cannot run unless someone (employees, in this case) is doing the work. Any intelligent business owner should want good employees.
Find the right people to start with
This is one of the most important things you, as an employer, can do.Getting the right people into your company to start with gets things moving in the right direction at the very beginning.
According to Chairman and CEO, Hal F. Rosenbluth, and Consultant, Diane McFerrin Peters, of Rosenbluth International, the third-largest travel management company in the world, “Most of us choose our spouse with care and rear our children with nurturing and compassionate attention. Yet, we tend to select the people who will join our company on the basis of an interview or two, and once they have joined, they often find that they must fend for themselves.
IIM’s see turnaround in placement season
Source:
Mint- The Wall Street Journal India's premier business schools (B-schools) expect their students to get a wider choice of jobs in the on-campus placements season starting this month, as a turnaround in the economy encourages global banks such as Goldman Sachs to hire in greater numbers.
B-schools cozied up to small- and mid-sized companies--many of them first-time recruiters--and public sector units in a desperate attempt to get their students jobs last year as the world battled to douse a financial firestorm that began on Wall Street.
Fewer companies courted potential recruits, salary offers dipped and the placements season dragged on longer than usual. That has changed as economic growth accelerates after dipping to 6.7% in fiscal 2009, the slowest in six years.
"First-time recruiters, public sector units and companies with lower stature may not find students this year," said P.D.
Jose, associate professor and head of career development services at the Indian Institute of Management, Bangalore (IIM-B). "Students' choices will be determined by market conditions."
Indian SMEs – Wake up to Best People Practices for your organizations!
Post liberalization India has poised itself to be the World’s 12th largest economy. It is also the fastest growing major economy of the world. With the opening of markets and easy access to Global platform India’s dream ‘Vision 2020’ of becoming the leading economies of the world slowly seems a reality. In 1835, even Lord Macaulay, the British historian and politician had to admit before the British Parliament: “I have travelled across the length and breadth of India and I have not seen one person who is a beggar, who is a thief. Such wealth I have seen in this country, such high moral values and people of such caliber… the very backbone of this nation, which is her spiritual and cultural heritage…..” Thus, it would be wrong to state that in 1947 India started to construct a modern nation from scratch. Rather, it began the process of rediscovering its rich cultural and spiritual values that had formed the foundation of India in the past.
Special HR challenges in SMEs
Contributed by Sonam Saigal, Knowledge Buddy
Interview with Mr. Vikram Hoon , Subject Matter Expert , Milagrow
Contributed by Nidhi Sehgal, Knowledge Buddy
KB - What are the major HR challenges which the MSMEs face ?
