Image via Wikipedia The word management used in context of a business involves many meanings. It refers to the act of management of the organization and the business to achieve its final goal. It also refers to an entity that is in charge of the day-to-day operations of the organization. A management audit involves verification of the hierarchy and distribution of power in the organization to determine whether it is best suited for achievement of the ultimate goal of the organization. A third-party must do the audit to avoid conflict of interest. The management conducting an audit of itself may come up with a self satisfying report that praises every decision taken and structure installed. On the other hand, opinion of a third-party may be completely different. The concept of management audit has become popular because people are realizing that having the right structure and procedure for management of the organization makes a huge difference to its productivity. There was a time when a firm with access to the cheapest source of raw material or labor would make the maximum profits in the past. Today, the firm that manages its resources best is the one that will make a profit. Considering the huge stakes that the masses have in the economy of the country and the fact that big corporations have a huge role to play in the overall economic development, it is not surprising that management audit is considered a social necessity. It ensures inefficiency in such corporations does not lead to losses for the entire country at large. … [Read more...]
Business Audit ? Why Involve 3rd Party Professionals?
Image via Wikipedia What is the harm in conducting an audit of one’s business without involving any third-party? Any and every audit involves verification of the subject of the audit. An audit of the financial statement involves verification of every bit of information presented in the same. There must be a logical link between each transaction and the ultimate results shown in the financial statement. There must be sufficient proof in the form of documentary evidence or paperwork. To conduct the audit without involving a third-party professional is obviously going to lead to loss of credibility. What is the guarantee that the management shall not convert the audit into a rubber stamp exercise which simply approves every decision of the management? A fraud conducted by the management itself will never be caught because the judge and the thief would be the same. It is important to hand over the task of audit to outsiders even when one is carrying out an internal audit or a management audit of a specific department or a specific process. Accountability is a very important issue when public money is at stake. A wrong decision by the management or a decision based on insufficient or irrelevant facts should be identified and remedied. The process may involve censuring the actions of certain people associated with the organization. To make sure that the process is impartial and credible, it is important to involve third parties. What is more, audit is a professional exercise and requires the services of people who have been specially trained to carry out such an activity. … [Read more...]
Juggling your Family and Career
You wear many hats. Businesswomen, wife, friend, sister, daughter, confidant...the list goes on and on. Even if you and your spouse planned to get pregnant, the day your find out your due date likely throws you into just a bit of a panic. How are ever going to mange juggling your family and career while pregnant? What about after the baby comes? The truth is, it is hard – it isn't impossible. It takes a bit of planning, a lot of willpower, and even more dedication. Below are seven ways to help you manage it all...without managing to lose your mind. Sleep when baby sleeps – During those first few weeks when you are still home with baby, sleep when the baby sleeps. Those first few weeks are very hard, and being sleep deprived won't help. When you put your little one down for a nap, be kind to yourself and take one as well. Get good help – Find help and accept it. If you are staying at home for a few weeks before returning to work, take the time to find a day care provider that works for you and your parenting style. If you are not going back to work, find babysitters so you and your partner can have alone time. Plan it out – Once you return to work (or even if you don't), prepare for each day the night before. Pack your diaper bag, lay out clothing for you and the little one, even prepare breakfast foods the night before. This simple step will save you lots of stress and time. Find me time – Even mommies need some alone time. Don't be afraid to ask your spouse to take your new addition for a few hours each week. Use the time to get your hair cut, indulge in a mani/pedi, or simply take a long, hot bath. You can't take care of anyone if you do not take care of yourself. Prepare – As soon as you find out your due date, begin to prepare for the changes in your life. See if your workplace offers flex time. Inquire about maternity leave for yourself and Family Medical Leave Act (FMLA) for your hubby. The more you plan and prepare, the smoother the transition will be. Schedule – While there is a raging debate over whether an infants times should be 'scheduled,' in reality, a working mom needs the reliability of a schedule. Talk to your doctor or nurse practitioner to decide how to implement a feeding and sleeping schedule for your infant. Give yourself a break – No matter how much you plan and prepare, there are times you are going to feel overwhelmed and that has to be okay.“Plan” for these emergencies by talking about them with your partner. Don't waste time beating yourself up over a bad hour! What changes are you making to help you juggle everything? … [Read more...]
Tips for Moonlighting as a Web Designer
So, you have dreams of becoming a freelance web designer but are fearful of taking the leap before knowing it’s even possible to make a decent full-time freelance income. While you could simply put in a notice with your current employer and hope for the best without having built up a client base, this isn’t exactly a practical option. Instead, you can do what most other freelancers have done by moonlighting as a web designer while still earning a full-time income from your main employer. While this can be a very effective way to determine if a full-time freelance career is your best option, certain things should be considered before you begin this venture. Here are three tips to help you start moonlighting as a successful web designer. Assess Your Employee Handbook One of the first steps to take before moonlighting as a web designer is read through the employee handbook of your main employer. If you’re working as a web designer for the employer, but also plan to build up a freelance design business, it’s important to ensure your employee allows this. Some companies require their employees to sign non-compete clauses that basically prevent them from doing outside work that would compete with the company’s niche client base. If you signed this type of company document, you may have to work around the clause by taking on client work outside of your employer’s niche market. It’s also important to be upfront with the employer regarding your moonlighting intentions if you think freelance work may not be allowed. Don’t Steal Clients While it’ll be to your discretion as to whether you inform your employer of the moonlighting work you’ll be doing, it would be unethical to begin stealing clients from the company. First, this practice would surely put you on the fast track towards unemployment, but could also result in negative word of mouth regarding your practices in the web design world. Begin Your Training If you aren’t yet trained as a web designer, you’ll need to take some classes before accepting any freelance work. Online web development classes are your best options for obtaining the training you need since they allow the freedom to learn at a time that works well for you. By obtaining the appropriate training before accepting freelance clients, you’ll appear as a more professional designer and will have the knowledge needed to create higher quality development projects. Although a fair amount of time may be needed to transition from working for your current employer to earning a decent enough income to begin freelancing full-time, it can be worth the wait. By moonlighting as a freelance web designer in your spare time, you will soon build up a solid client base and will become more confident in your design capabilities. This will then translate into the increased likelihood that the freelance venture will go well over the long term. Do you have any additional tips for transitioning from being an employee to a full-time freelancer. … [Read more...]
5 Ways to know What Career is Right For You
Deciding on a career can be a long and difficult process as you may not know what you will enjoy or be capable of. Following these five simple steps will better help you determine what career you want to pursue. 1. List Your Interests When picking a career that is right for you, it is always a good idea to decide on one that you are sure you will enjoy. Make a list of subjects, hobbies and skills you are interested in or good at. This will help you decide on a career that you will enjoy and have fun with. 2. Research Different Careers After you have your list of interests, research different careers related to those subjects. Using the Internet is a great way to begin your research. You may also want to ask someone you know that works in your field of interest about the type of work they do. Even if you don’t want to do exactly what they do, they may have more information about what jobs are out there. You also may want to try talking to a career councilor, whether it is at your high school, a college of interest or through another organization. A career councilor will be able to provide you with resources and information about the types of careers you are investigating. 3. Determine Your Resources It is not always easy to simply decide on a career and know you’re going to accomplish it. Determine what is realistically possible in your own life. For example, if the career you are interested in requires schooling, you may want to consider if you are able to attend a school that offers that degree, or that you are able to pay for it either by your own income, loans or grants. 4. Evaluate how it Will Effect Your Life Sometimes what seems like a good choice may be worse in your own personal situation. You will want to consider how your career choice will affect aspects of your life. For example, you may want to consider if it will increase your income and provide you with an income you can live off of. You may also want to consider if having this career will require you to move or commute a long distance. 5. Narrow Your Choices and Decide After you have considered all these things, you should be able to narrow down your choices to a short list. From there, you should continue to research these careers and determine how each will affect your life. Weigh the pros and cons, and you should be able to come to a final decision.Deciding on the right career for you can be difficult. It will require an extensive amount of research and consideration. If you’re still having trouble deciding on the right career for yourself, you may want to try looking in another area of interest. What career do you think is right for you? … [Read more...]