Monday, May 11, 2015

ROOTED IN VALUES



Parents’ worst fears are that their child will grow up spoiled.  The fear strikes at the heart of one of the most challenging and baffling parental topics to teach: money.  Teaching kids about money is, at root, a values issue.  It’s more about teaching priorities and proper way to live.  Here are some ideas on teaching children the value of money:
·         Manage the allowance
·         Do not tie allowance to chores
o   It will break down once the child decides she would rather skip the chore and forgo the allowance.
·         Fostering entrepreneurial spirit and work ethics
·         Teaching about needs versus wants.
·         Wait for things
·         Explain household income to children
·         Model good financial habits yourself.
Shared article by:
Gregory Karp
Family, Star 2
Friday, 6 March 2015

A TWISTED CULTURE




We should all be rewarded and recognise for having the intellect and dedication to produce good result.  In the frighteningly real world, there are many instances where we are just given more and more work with little or no added compensation; simply because we are efficient.  Therefore the logical thinking ‘to work less efficiently’.  This reality will lead to people not even trying to go the extra mile in their work in case it creates too big a wave with the management or risk getting demoted for rocking the boat.  Bare in mind that demoted does not only mean demoted in rank, it can include responsibilities and authorities.
People, than, may seemed to be lazy because, literally and figuratively, it does not pay to be hardworking.  The many leave the project or even the organization because their creativity may be hampered by the work culture to perform their best.  As the organization grows, the number of employees increases.  This means that the responsibility for livelihood, happiness and health of the people also grow bigger.  Organization should always be trying to create win-win situations for the company and its employees.  Many organizations do not understand that it is not just about the money.
The company’s culture is also an important criteria.  In the long term, that’s what employees seek.  It is important for the ‘people at the top’ to develop a culture that is supportive and not competitive while trying to increase performance and productivity.
We try so hard to create loyalty among customers that we almost always forget to cultivate it among our own employees.  Create a culture where people are happy as well as productive, then sit back and watch the money roll in.

Shared from the article by Xandria Ooi
Sights and Sound
Star Metro, Wednesday, 27 April 2011

PERFORMANCE MANAGEMENT



 
Almost all organizations generally implement performance management systems (PMS) in order to:

  • Monitor productivity
  • Communicate strategy
  • Reduce costs
  • Review business strategy
  • Support reward system
  • Control operation
  • Legal requirement
  • Need to win customers contracts


PMS adoption is a combination of both fashion trends and real needs.  But the effects of PMSs need to be better understands in order to maximise their benefits.  Organizations should pay more attention to the internal effects of performance management.  These effect are the engines that drive results: productivity, profitability, and reputation.

PMSs when implement correctly can increase the transparency of information, improved horizontal and vertical co-operation and encourage friendly competition.  Generally, PMS can help people to focus on key business issues and also provide people with a different way to operate.

Shared From Article By
Veronica Martinez and Mike Kennerley
Accountants Today
September 2006