Policies and Procedures Used as Management Key

Comments (20)


Policies and Procedures Used as Management Key

By: Chris Anderson

Managers know the difficulty of getting people to do the right things the right way. And employees need their expertise and understanding of the way things should be done. But how do you get it across so it actually sticks? The answer is well-defined policies and procedures.

Quickly Convey What's Right

Managers can convey the exact way things should be done with policies and procedures, and they can do it faster than ever with pre-written documents. This speeds an organization's standard operating procedures project effectiveness to get results.

Create Strong Operating Procedures

Departmentally-focused manuals provide an excellent opportunity to create strong, consistent Standard Operating Procedures across multiple functions. This includes added savings of time and resources. Departments that benefit with improved results include:

  • CEO Management - Build an effective management procedures system based on best practices for the entire organization
  • CFO Controller - Simplify the job as a CFO or Controller, and speed the development of comprehensive Accounting and HR manuals
  • ISO 9001 Quality Manager - Create ISO 9001 quality policies and procedures manual with prewritten policies, procedures and forms
  • Human Resources Manager - Create HR policies and procedures manual with prewritten policies, procedures and forms
  • Security Manager - Create complete facility security procedures and disaster recovery plans

Customize to any Business

When researching effective solutions, the content should be well-researched and follow industry-standard formats. Moreover, the applications such as MS Word-based standard operating procedures documents should be easy to edit and simple to customize for any business or organization.

Utilize Essential Procedures

Management should have a solution to implement their entire policy system with essential procedures in one concise, consistent format. And they can do it effectively and efficiently because pre-written documents:

  • Saves research time
  • Improves procedure writing
  • Speeds policy development
  • Eases document editing
  • Enhances policy knowledge
  • Simplifies implementation

The Right Documents

Business owners and executives should select a pre-written policies and procedures package specifically created for a particular management scope. And choose the one that identifies their role and needs.

About The Author

Chris Anderson has over 18 years of sales, marketing and business management experience working with business process design, software and systems engineering. He is also co-author of policies and procedures manual products, producing the layout, process design and implementation to increase performance. He is currently the Managing Director of Bizmanualz, Inc.

Visit: http://www.bizmanualz.com

Comments

Aaron 23.02.2011. 09:47

what are the QA and QC techniques in a job order production manufacturing company? what are the QA and QC techniques in a job order production manufacturing company? do they use statistical process control for assuring quality?

Aaron

Admin 23.02.2011. 09:47

QA (Quality Assurance) is responsible for implementing the QMS (Quality Management System) within the company. This may be ISO9000 on its own or in combination with aerospace (AS9100), automotive (ISO/TS16949) , environmental practices (ISO14000), health and safety (ISO18000) or other quality systems such as Six Sigma. QA is responsible for producing quality policies, procedures and work instructions and for Corrective Action processes, such as root cause analysis, when required. QA is also responsible for internal quality audits and general working practices such as anti-static procedures.

QC (Quality Control) is controls stationed at regular places within the manufacturing process that checks the quality of the manufactured product at that point in the process. This control function may be automated or may be done by human QC inspectors. A typical human QC function would be an out of box audit performed on a percentage of finished manufactured product. A typical automated QC function would be a series of machine run diagnostics on a populated or non-populated printed circuit board.

SPC, statistical process control, is used but it is mainly used in processes where an audit trail for each part or manufactured component is required such as in the aerospace and automotive industries or may be required by the customer or in a high volume one off process manufacturing systems such as plastic injection moulding. In a medium volume environment or where such audit trails are not required, such as PC manufacture, SPC is not a very useful tool and is rarely, if ever, used. SPC in used to control product characteristics after a part is manufactured and the defect has been made rather than monitoring key process parameters that affect whether or not a defect is made. That's why it is called statistical "process" control and not statistical "product" control.

Admin

shrao 30.11.2010. 10:24

New Pension Scheme(NPS) started by govt for all employees.How to open account and who are authorised? Recently govt started NPS for its employees as well as organised private sector employees also.How to open a account and remit regularly.Who deals with it?Procedure to open may inform.

shrao

Admin 30.11.2010. 10:24

It's a year old now. The New Pension System (NPS), which aimed at reaching out to 270 million people, or 90 per cent of the workforce, has covered only a miniscule 4,600.

Of course, the overall number may be much higher at around 873,000, but most of it is amassed by government servants who have joined after June 1, 2004, and whose mandatory retirement savings are being invested in the scheme.

What has made the NPS, one of the most advanced and cost-effective schemes, such a non-starter? Here are some key reasons.

Access. We receive several queries from readers on how to subscribe to this scheme. This is surprising, especially when most banks, including bigwigs such as State Bank of India and Axis Bank, are already acting as points of sale for it. One of the reasons is that there is no direct incentive for people selling the scheme.

"Due to lack of participation by service providers, NPS has not reached out to the masses. We are looking at providing direct incentives of fixed nature to people selling it," says N.R. Rayalu, chief executive of the NPS Trust.
Complex mechanism. Electronic clearing system (ECS) is not available at all the points of presence (POPs). Currently, only a handful of them, including CAMS and Axis Bank, are providing this facility.

In the age of online transactions, you cannot expect the customer to visit a branch every time he needs to drop a cheque.

Tough rules. Subscribers need to make a minimum of four contributions in a year. This means four visits to the branch and keeping track of all those payments. Moreover, a minimum contribution of Rs 6,000 could be slightly high for very small investors to shell out.

Cheap? Not really. A back-of-the-envelope calculation shows that if you invest Rs 6,000 per annum (minimum investment required) in the NPS, the total quarterly charges, inclusive of opening the account, work out to be Rs 560 (9.33 per cent of Rs 6,000).

Thereafter, Rs 470 (7.8 per cent) is charged every year, excluding a fund management charge of 0.0009 per cent and other custodian charges. To lower the charges further to 2 per cent, one has to invest at least Rs 30,000 annually.
No premature withdrawals. Withdrawals are not allowed except for special cases. Even at the age of 60, you can only withdraw 60 per cent of the corpus as cash, and the rest is used to buy an annuity.

If you want to withdraw before you turn 60, you would need to buy immediate annuity with 80 per cent of the money accumulated. "This is a retirement-focused scheme. If we allow withdrawals at an early stage of the policy, it will not serve its purpose," says Rayalu.

Obviously, if the scheme has to shed this non-starter tag, it needs significant reform on many fronts.

Said Kanwar Vivek, managing director, Aditya Birla Money (a brokerage house) at the Outlook Money Pension Roundtable in March: "If you see the NPS, it's clear that unless there is some incentive for the intermediary in the scheme, it is a very difficult task to popularise it." Are the policymakers listening? Well, they would do better to.
One Scheme, Several Roadblocks

Availability: People remain confused about how to subscribe to the NPS. This is partially due to lack of interest by service providers in selling the scheme.

ECS Blues: Electronic clearing service (ECS) facility is not available at all points of presence (POPs). This makes depositing money a cumbersome process.

Rigid Norms: As the scheme requires a minimum of four contributions every year, chances of people missing one or two payments are quite high.

Fixed costs: For very small investors, the NPS does not turn out to be cheap as most of its charges are in the nature of fixed costs. One of the main attractions takes a hit.

Restrictions: Premature withdrawals are not allowed under NPS, which makes the scheme less attractive in comparison with other retirement benefit schemes.

Admin

Sady A 07.03.2008. 00:56

How do I perform Operational Audits in a manufacturing industry? Could any tell me how they would go about auditing these areas: Sales, Inventory and A/R in a manufacturing company like Seagate. l am going for a job interview tomorrow and l will be taking a test on this. l have been doing audit for the past 11/2 yrs but in the financial industry. Please help!!! I really want this job.

Sady A

Admin 07.03.2008. 00:56

Yeah, I used to be Manager of Oper Auditing for a mfg co. a few years back. One of the most enjoyable and interesting jobs I ever had!

Start your initial interviews with: the scope of the audit- what, when, how, etc.

But the real key to success lies here: Then interview key management personnel. In these interviews, by a few pertinent questions, you are looking to find out what CONTROLS have been established and put in place to provide assurance of an adequate level of internal control, safeguard, and compliance with key policies/procedures

Some examples of CONTROLS are: is there a good set of written policies and procedures, a system of checks and balances, is there a system for good communication upward and downward, have responsibilities and accountabilities been clearly defined and understood by key people, is there a solid organizatoin for accountability/delegation of duties, etc.

Then in the auditing, you simply make a few tests of actual transactions to determine 1) whether the controls they told you about are actually in place, and 2) are they actually being followed, ie what is the degree or level of compliance. It is best thought of as a sort of procedural auditing.

If test results are good, don't go further. If test results are bad, expand and go further to see if there is a real disconnect somewhere or was the sample just an isolated instance.

Hope this helps, and good luck, Bill (Mule)

ps to Sady:
I am Curious to know how your interview went??
Was this information not what you were looking for??

Admin

Dee 16.12.2007. 16:42

What makes a teacher a good classroom manager? I am having trouble with a class, what makes a teacher a good classroom manager?

Dee

Admin 16.12.2007. 16:42

#1 Rule: Be firm, fair, and consistent.

The key is to have a classroom management policy in place from day one. You want to clearly outline for your students what you expect of them.

For instance, here is mine:

* * *
EXPECTATIONS
?Respect each other, the teacher, the classroom, and the learning process.
?Listen and follow all directions.
?Do your best every day.
?Be involved and engaged.

CLASSROOM PROCEDURES
?Beginning Class: Upon entering class, quietly take your seat, get out materials and begin working on your daily journal entry (Writer?s Journal).
?Tardy: Be in class on time every day. The Warren High School attendance and tardy policy will be strictly enforced. If you are late to class, quietly enter the classroom, sign the tardy book, sit in your assigned seat, and join the class activity. If you have a late pass, you must still sign in. You may show me your pass at the end of the period. Come prepared to class with appropriate class materials. If you do not have your book(s), you will receive a tardy. The reason being, if I sent you back to your locker, you would be late to class.
?Absences: If you are absent, present your admittance slip to me when you enter the classroom the first day you are back. It is YOUR responsibility to check the Classroom Book for missed assignments. After you have checked the book and made a list of your missing work, I will help you schedule make-up quizzes, tests, etc.
?Pre-dismissal: Typically, class activities will end approximately three minutes before the end of the period. During this time students are to remain seated until dismissed, to put all materials away, and to keep the noise level to a minimum. This is the time for students to ask questions, schedule make-up tests or retakes, explain reason for tardiness, etc. Note that the teacher dismisses the class, NOT the bell.
?Follow all school rules as outlined in the student handbook.

POSITIVES
?Verbal Praise
?Phone calls or notes to parents/ guardians
?Whole class reward
?Bonus points
?Prize

DISCIPLINE PLAN LIMITS*
?First Violation: Warning by teacher
?Second Violation:One minute after class
?Third Violation: Two minutes after class; call to parent/guardian
?Fourth Violation: Refer to administration

*SEVERE CLAUSE: Defiance or disrespectfulness, fighting, vandalism, or any student behavior that stops the class from functioning will result in immediate referral to administration.

* * *
It is relatively short. I go over it with the class and then post it where they can see it. The key is follow through.

I would consider drawing up your plan and presenting it after Christmas break--new year, new rules. Go over it with your students and DO NOT back down. Stick with it--stay consistent. It'll be tough the first couple weeks (they'll try to get you to abandon it), but it WILL work if you keep at it. Having this break for the holidays is like a second chance--use it!


The first year I taught I was a doormat. I was "afraid" of confrontation. I didn't give tardies. I didn't give detentions. Year two, that all ended. I gave tardies. I gave two detentions day one. I spoke with parents several times the first weeks of school. I showed no weakness. The focus was on school and I was all business. Within a matter of weeks the kids responded. I seldom ever had to hand out tardies. I never had a detention again. And, when I called parents it was usually to deliver good news. I couldn't believe the change.

By my third year I was known as a tough teacher that wouldn't let you get away with anything--but I was well respected. That was my goal! I didn't care if they liked me, but they had to respect me. Last year I was chosen as a "favorite" teacher and asked to greet students during the diploma ceremony. Although becoming a favorite wasn't my goal, the fact that they chose me showed me that you can maintain positive relationship with your students while maintaining respect in the classroom.

Admin

JustVerySlightlyMad 07.01.2008. 14:56

How can I share files and printers between my PC's? This is really annoying. I have turned on file sharing between all of the wirelessly networked computers in my house. However, it seems that the computers still can't see each other, or the contents of 'shared' folders. Why?

4 XP, 1 Vista. Netgear router, if that helps.

JustVerySlightlyMad

Admin 07.01.2008. 14:56

The component is installed and enabled by default. It is enabled per connection ising TCP/IP and is necessary to share local folders.


To enable file and printer sharing using the Network Setup Wizard
You must be logged on as an administrator or a member of the Administrators group in order to complete this procedure. If your computer is connected to a network, network policy settings might also prevent you from completing this procedure.

Run the Network Setup Wizard.
Click the connection method that applies for your computer.
Accept the default computer description and computer name.
Accept the default workgroup name. This name should match the workgroup name of the other computers that you want to share files with.
On the File and printer sharing page, do one of the following:
To enable file and printer sharing, click Turn on file and printer sharing. Windows Firewall will be configured to allow file and printer sharing on your network.
To disable file and printer sharing, click Turn off file and printer sharing. Windows Firewall will block file and printer sharing on your network. If you currently have shared files or printers, they will no longer be shared.
Complete the rest of the wizard.

To set permissions on a shared resource

Using Shared Folders

Open Computer Management (Local).
In the console tree, click Shares.
Where?

Computer Management
System Tools
Shared Folders
Shares
Right-click the shared resource for which you want to set permissions, and then click Properties.
On the Share Permissions tab, select the following options that you want, and then click OK:
Click Add to grant a user or group permission for a shared resource. In the Select Users, Computers, or Groups dialog box, look for or type the user, computer, or group name, and then click OK.
Click Remove to revoke access to a shared resource.
In Permissions for , select the Allow or Deny check boxes to set individual permissions for the selected user or group.
Notes

To open Computer Management, click Start, and then click Control Panel. Click Performance and Maintenance, click Administrative Tools, and then double-click Computer Management.
You must be a member of the Administrators or Power Users group to use Shared Folders.


Using Windows Explorer

Open Windows Explorer, and then locate the shared folder or drive to which you want to add a new share name.
Right-click the shared folder or drive, and then click Sharing and Security.
On the Sharing tab, do one of the following:
If you are logged on to a domain, click Permissions. In the Permissions for dialog box, select the options that you want, and then click OK.
If you are not logged on to a domain, clear the Allow other users to change my files check box.
Note

To open Windows Explorer, click Start, point to All Programs, point to Accessories, and then click Windows Explorer.

To add users or groups to the Permissions list
Open Registry Editor.
Click the key whose Permissions list you want to change.
On the Edit menu, click Permissions, and then click Add.
In the Select Users, Computers, or Groups dialog box, in Locations, click the computer or domain of the users and groups you want to view.
Click the name of the user or group, click Add, and then click OK.
In the Permissions dialog box, under Permissions for name, assign a type of access to the selected user or group as follows:
To grant the user permission to read the key contents but not to save any changes made to it, select the Allow check box for Read.
To grant the user permission to open, edit, and take ownership of the selected key, select the Allow check box for Full Control.
Caution

Incorrectly editing the registry may severely damage your system. Before making changes to the registry, you should back up any valued data on your computer.
Notes

To open Registry Editor, click Start, click Run, type regedit, and then click OK.
If the check boxes under Permissions are shaded, the key has inherited permissions from the parent object key.
To allow permissions assigned to a parent key to apply to its subkeys also, click Advanced, and select the Allow inheritable permissions from parent to propagate to this object check box.
In the Select Users, Computers, or Groups dialog box, if you type the name, rather than selecting it, click Check Names before clicking OK.

Admin

Chants 26.07.2011. 06:58

What are 4 similarities and differences between lawmaking processes and procedures of parliament and courts? Australian system

Chants

Admin 26.07.2011. 06:58

What is the difference between a law and a policy?
It is important to understand the difference between a policy and a law.

A policy outlines what a government ministry hopes to achieve and the methods and principles it will use to achieve them. It states the goals of the ministry. A policy document is not a law but it will often identify new laws needed to achieve its goals.

Laws set out standards, procedures and principles that must be followed. If a law is not followed, those responsible for breaking them can be prosecuted in court.

So, policy sets out the goals and planned activities of a ministry and department but it may be necessary to pass a law to enable government to put in place the necessary institutional and legal frameworks to achieve their aims. Laws must be guided by current government policy.

Stages of policy and law making

Government and parliamentary structures as well as the different branches of government all play very important roles in the making of laws and policies. Below is an explanation of the stages of making policies and laws, using a specific example of compulsory education.

Stage one ? Ruling party conference gives vision, goals and direction

Stage one in the process takes place at the major conferences of the ruling party where policies are made. At these conferences particular issues are debated and discussed and the ruling party decides its overall vision, goals and direction on specific issues.

For example, the ruling party may decide at their national conference that the policy regarding access to education should be that all children under the age of 17 must be in school ? compulsory education. It is now the role of the party?s members in the executive and legislative arms of government at national and provincial levels to initiate the processes that will lead to the implementation of this policy.

Stage two ? Executive (Ministry) draws up policy on an issue

Stage two of the process takes place at national level where the ruling party attempts to convert its party policy into official government policy or law following the procedures prescribed by the Constitution. It is clear therefore that there is a strong political link between key legislative and executive structures and the majority party.

It is the responsibility of the executive branch of government to develop new policies and laws. It is the responsibility of the legislative branch (Parliament) to approve policies and pass new laws to give legal effect to the policies. But this is a long and slow process during which the policy or law proposed by the ruling party is debated and negotiated with various stakeholders, such as opposition parties, the public, non-government organisations, etc. This can take many years to complete.

During this time, the government ministries will draft discussion documents, called Green Papers and White Papers on the policy or law to allow for debate and comment. Public service Senior Management Service members are often used as resource people for this process. Various parliamentary and select committees in national Parliament and in the National Council of Provinces, as well as portfolio committees in Provincial Legislatures provide opportunities for public participation in debating the proposed policy or law.

Stakeholders can use different opportunities for input, such as attending parliamentary committee hearings, setting up meetings with department heads or the minister, using the media to put pressure, etc.

Example:
The ruling party has stated its policy of compulsory education for all children under the age of 17. The national Minister of Education now informs his/her department of the need for a policy document to be produced on this issue. The first discussion document to be published will be a Green paper. This will be drawn up by the Ministry and the Education Department with the help of advisors, experts in education, advisory committees, etc. The Green paper identifies the key issues and suggests alternatives. It is then made public and invites comment from all stakeholders and the public.

Stage three - Finalising a policy

Stage three of the process is when the policy is finalised by the relevant Department and Ministry. Once a policy has been properly debated the Department and Ministry look at the issues and options and draw up a final policy which is published as a White Paper. The White Paper is a statement of intent and a detailed policy plan which often forms the basis of legislation. It is debated and adopted by Parliament and approved by Cabinet.

Admin

Aaron 17.11.2011. 10:45

Explain the role of a management accountant in a manufacturing company? there role (Work, role, responsibilities) management accountant in a manufacturing company

Aaron

Admin 17.11.2011. 10:45

Management accounting or managerial accounting is concerned with the provisions and use of accounting information to managers within organizations, to provide them with the basis to make informed business decisions that will allow them to be better equipped in their management and control functions.

In contrast to financial accountancy information, management accounting information is:

Designed and intended for use by managers within the organization, whereas financial accounting information is designed for use by shareholders and creditors.

Usually confidential and used by management, instead of publicly reported;
forward-looking, instead of historical;

Computed by reference to the needs of managers, often using management information systems, instead of by reference to financial accounting standards.

This is because of the different emphasis: management accounting information is used within an organization, typically for decision-making.
Source(s):
http://en.wikipedia.org/wiki/Management_? [the basic definition]
http://www.knowledgecity.com/business_tr? [ for more information on business management]
===============
Management accounting or managerial accounting is concerned with the provisions and use of accounting information to managers within organizations, to provide them with the basis to make informed business decisions that will allow them to be better equipped in their management and control functions.
===============
A well developed manufacturing strategy is becoming increasingly important to many manufacturing organizations. A major feature of such a strategy is the definition of a manufacturing infrastructure that is consistent with how products and services compete in the selected market. The managerial accounting system is a key component of this infrastructure. Reports the results of a survey of 85 manufacturing companies. Finds that many companies use an accounting system that appears to be inappropriate. The systems are often ill suited to their marketplace and inconsistent with an appropriate manufacturing strategy. Discusses recommendations for change for companies currently developing a manufacturing strategy.
Duties and responsibilities:

Co-ordinate the budget preparation, monitoring and control process, in line with agreed policies and procedures
Develop, review and circulate annual budget guidelines/assumption to all departments
Develop and maintain a budget/commitment tracking system for the company
Analyse budget performance, identify and obtain explanations for significant variances
Make relevant contribution to the company's cash forecasting and long range financial planning
Develop/update the management information report framework and templates, including defining the model for data and information gathering
Develop, review and update monthly, quarterly and yearly financial forecast and ratio analysis
Develop relevant financial models and conduct financial analysis on the company's performance along defined indications
Ensure timely generation of periodic reports for use by management for strategic decision making
Compute accurately and file all Federal, State and Local tax returns to ensure the company's compliance with all tax laws and regulations
Liaise with Accounts officer, Treasury to ensure cheques for tax payments are promptly issued and make tax payments at designated banks and obtain necessary receipts and documents for tax filling

Admin

Debu 07.01.2008. 14:15

What are the procedures, examinations,requirements for doing MBA in US? Array

Debu

Admin 07.01.2008. 14:15

Eligibility


Undergraduate Degree:

Almost all US universities require 16 years of undergraduate education. That is, four years of education after High School/Junior College.

If you have a three year degree from an Australian, Indian, New Zealand university or such similar three year degree programs, you will not be eligible for admission to most MBA programs. You would require a professional four-year degree like engineering or other such courses.

Three year Graduates

If you have completed a three-year degree program like BSc, BA, BCom from an Australian, Indian, Pakistan, Bangladesh, New Zealand, Sri Lankan universities, the advisable plan of action to maximize eligibility for US business schools is to do a Post Graduate degree like MSc, MA or Mcom, before applying to business schools in USA.

A one-year university affiliated program will make up for the fourth year required. The key point is to ensure that the program that you do is a recognized university program.


IMPORTANT :

Professional programs like the CA, ICWA, part time diplomas from a university such as those in management, communication may or may not be accepted, though most MBA programs now accept the Indian CA qualification in lieu of the fourth year graduation.
Independent certificate courses offered by private institutions like Aptech, NIIT, etc. will most likely not be accepted. The decision is based on each university?s individual evaluation.
One-year education of a two-year degree course (like M.Tech., M.A. etc.) may not be accepted by most schools. The full course has to be completed for qualification, unless there is a recognized university examination at the end of one year.



Note: No standardized policy exists regarding the acceptance of such programs. Some universities may accept the three-year Graduation Degree for a few programs. But keep in mind that preference will be given to candidates with 16 years of undergraduate education.


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Work Experience:

Most US universities recommend/require a minimum of two to three years of work experience. Though some universities may accept you without any work experience, preference will be given to candidates with work experience.


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GMAT:

GMAT is required for almost all universities in US. It is also one of the most important criteria for admissions. If you are planning to study in a US business school, you must score high in this exam. For more information on GMAT, check out About GMAT

Note:
For international students, GMAT is required not just for admission but also for student visa. Your chances of getting a student visa to US are weakened if you do not take the GMAT, even if you have an admission from a business school.


--------------------------------------------------------------------------------

TOEFL:

This is required by almost all universities in US. It is a fairly simple exam for most students who have studied in English medium throughout. The minimum scores required for most universities range from 550 to 600 on the paper based TOEFL and 213 to 250 on the computer based TOEFL.

Application Procedure

This section explains the process of applying to US universities for an MBA program.


Requesting Application Forms

Application Requirements
Academic Record
Standardized Tests
Work Experience Details
Letter of Recommendation
Essays / Statement of Purpose
Interviews
If you have any doubts or require any further information, please use our Helpline service.


Application Forms Top


Send enquiries at least 15 to 18 months before the proposed date of admission. There are two ways to get application forms.

Requesting Application Forms via email : You can request application forms from the universities website. Most universities have a form on their website which can be completed online to request application material.
Downloading from the university website : Many universities have a downloadable and ready to print versions of their application forms on the net. These can be used for applying just as regular forms.


Application Requirements


1. Academic Records & Transcripts Top


Your past academic record is one of the most important deciding factors in securing admission to a business school in USA. Most business schools require you to have a reasonably good academic record. Each university has its own minimum requirement for its MBA programs, which are flexible depending on the candidate?s profile.

Universities in USA have their own marking and evaluation systems, which are considerably different from the marking system in other countries. They follow the GPA (Grade Point Average) system which is based on the 5 points scheme " A, B, C, D & F.

It is advisable not to convert your marks in your education system of grading to the American Grade Point Average system or any other system since the conversion may not be accurate. You may attach an explanatory note from your college to indicate your rank in your class and/or university.

The letter may also indicate your relative place in the class and the university average, along with the number of students in the class and the number of colleges and students in the university. You may also provide any other information or documents that you feel may help you in the admission process.

Students applying to the MBA programs are required to submit an official transcript (mark-sheets) from each college or university that they have attended after secondary school with complete details of the subjects/credits involved (for each year) and other details like correspondence courses, diplomas etc.

Most universities ask for the transcript (mark-sheets) to be sealed in an envelope and signed and attested across the seal by the registrar. This procedure is to be done for each and every college that you have attended. Some universities may ask for more than one copy of the transcript.

If the transcripts are in a language other than English, they must be translated into English only by the issuing authority or university.



2. Standardized Admission Tests Top


GMAT:
The most important test for admission to the MBA program in a US business school is the GMAT - Graduate Management Admission Test. GMAT is required by almost all business schools in US.

You have to report your GMAT scores to the university along with your applications.

For complete information about GMAT, check out: GMAT Test.

For more information on GMAT Prep resources & books, check out: GMAT Preparation

TOEFL:
In addition to GMAT, most international students from non-English speaking countries have to take TOEFL exam.

For more information on TOEFL, check out TOEFL Test



3. Work History Top


Admission to most good business schools and MBA programs requires a couple of years of work experience. While this is not mandatory for all schools, it definitely is preferred by most business schools.

Your work experience is one of the most important criterion for business school admission.

A detailed Résumé is an important part of your application. It should include all information of professional work experience along with details like position(s) held, achievements and scope of work.

Find Résumés a Problem? Check out our Résumé Section for tips.




4. Letter(s) of Recommendation Top


Letters of reference or recommendation letters play an important role in admission to the MBA program. A recommendation letter is a signed statement from a person who knows you well professionally or has taught you in a subject that is related to the course you are applying to.

The author or teacher must indicate his position, how long he/she has known the applicant and in what capacity. He/she should briefly discuss the need, importance and usefulness of the study the applicant proposes to undertake.

Authors are usually asked to rank applicants in their letters of recommendation, which helps admission officers to interpret the academic credentials of foreign students. Students should obtain letters of recommendation (often on the prescribed forms sent by the institutions) from people who know them as a person as well as a student or a professional. You may like to request your author to give concrete examples that show your qualities, strengths etc. to help your case.

Many universities have their own format and questions that have to be answered by the person who is giving the letter of recommendation on your behalf. Letters, which do not give enough information, can jeopardize a candidate?s chances of selection.


For more details on letters of recommendation, formats and tips, check out Letter of Recommendation


Note: Even if not mentioned, it is advisable to include at least two letters of recommendation in your applications as they increase your chances of getting admissions.



5. Business School Essays Top


The personal essays play a very important role in the process of evaluating your application for admission to the MBA program. They give the faculty assessing your application their most significant impression of you as an individual. This section is the key to distinguish your application from other suitable candidates and a chance to market yourself.

When there are fifty students with similar academic background and similar GMAT scores, it is their application essays that make or break their application.

A personal statement should include your reasons for choosing a particular course, the suitability of your education and experience for the chosen course, and your personal interests and career goals.

Some courses like Business School courses will have their own essay questions and format. Others may ask for a résumé or reasons for applying to that particular course.

For more details and tips on application Essays, check out our Essays section





7. Interviews Top


Interviewing prospective candidates is getting common in the US business school admission structure. Most top business schools will take your interview to know you better.

The interview could be with a business school representative or "third party" representatives, staff, faculty or alumni of the college or simply a telephonic interview.

These interviews are usually informal and more of an opportunity to exchange information. The interviewer will try to judge your abilities and interests.

For more details and tips on interviews, check out our Interviews section

MBA Tuition Fee, Living Cost & Expenses



Tuition Fee
US business schools fall under two major categories:
- public (state supported), and
- private (independent) institutions.

International students? tuition expenses at state schools are based on nonresident costs, which are still usually less expensive than those of private universities.

It is important to note that the cost of a program in a US school does not necessarily affect its quality.

A brief idea can be got from the following table:

University Type Tuition Fees (annual in U.S. Dollars)
Private School (High Cost) $ 30,000
Private School (Low Cost) $ 15,000
State School (High Cost) $ 20,000
State School (Low Cost) $ 10,000

The tuition fee is different for different universities and varies widely with courses. It can vary from as low as $ 8000 a year for state universities to as much as $ 35000 per annum for some private universities.

For example, Colorado Technical University offers the MBA program for less than US $ 10,000 a year, while many top schools like Harvard Business School and Wharton Business Schools have a fee structure of around US $ 30,000 per year.

For more specific details, please check out the university websites or contact the universities.



Living Expenses

The approximate annual living expenses during the MBA program is about $12,000, which includes accommodation as well as other daily expenses. However, the expenses are different for different people depending on the lifestyles and this is just a rough idea. The main expenses can be split up as:

Rent $ 400 per month
(you can live alone with that amount in a place like Auburn or share an apartment with 6 people in NY)
Groceries $ 150 per month
Utilities $ 150 per month
Phone $ 100 per month (if careful with international calls)
Sundry $ 200 per month

So, about $1000 per month is a good estimation. Mostly people can survive between $700-$1000 a month.

The key here is to share apartments/houses so that you save on the utilities, fixed charge portion of phone and to some extent on groceries.

Note: The approximate currency exchange rate is: 1 US $ = Rs. 46
For the latest conversion rates, Check out http://finance.yahoo.com/m3

Financial Aid



It is important to understand that most universities do not offer financial assistance to international students for a program like MBA. The few who manage tuition waivers and assistantships usually get it after they reach the university and usually after a semester.

It still makes sense to take a loan. This is because the kind of jobs that you would get on completion of the MBA program, you should manage to pay back your loans within a year or two.

A typical loan required for an MBA program in a mid tier university in US would be about Rs. 15 lakhs. (Many banks offer education loans)

On completion of an MBA, you would typically get a job with an average salary of say US $ 60,000 per annum (This could vary depending on how you perform in your program and job interviews). Remember, you have to perform well in your program to get jobs.

After taxes and expenses, you could easily save about US $ 10,000-15,000 or more a year. This means you can pay back your loans in about two years. Imagine, trying to earn this kind of money anywhere in the world in such a short time. That's USA for you.

Coming back to the types of financial aid, we have:

Sources of funds Amount Rate of Interest Advantages Disadvantages
Sponsorships (family/relatives) - - - -
Bank Loans
(In home country) US $ 10,000
- US $ 30,000 16-18% Repayment after completion of course Requires security like property/assets
University Funding Part or complete tuition fees - No repayment Depending on funding type, you may have to work for upto 20 hours a week.
Loans & Aid from Other Sources (U.S.) Complete tuition fees & expenses Approx. 8 % Low interest rates,
Easy repayment terms Requires a Co-signor, who is U.S. resident/Green card holder
Scholarships in home country Varies - No repayment Very few available, tough competition
Scholarships in U.S. Varies - No repayment Very few available, tough competition





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Sponsorships Top


This is perhaps the simplest option of all. The university presents an official estimate of study and living expenses, and you get a letter or affidavit from your parents or a rich relative, in which they declare their income and support for your studies. This is satisfactory for both the university and the visa authorities.





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University Funding Top


This kind of funding is usually the most common. Unfortunately, most of the university funding is for research based and science programs and not for the MBA programs. The different types of financial help available:

Types of Assistance
Merit based assistance is awarded in many forms, from tuition waivers, various types of assistantships, to fellowships. The most common are listed here :

Tuition Waiver : This means that the student does not have to pay the tuition fees at the university. However, general fees (for the use of university facilities like the library, computers, and sports and health services) usually have to be borne by the student. A tuition waiver is frequently awarded in conjunction with a scholarship or teaching/research assistantship.

Scholarship / Fellowship : This is usually an outright grant based on the student?s academic ability and performance. Hence, Only a truly outstanding student may be considered for this type of award, before enrolling at the university. A full scholarship would pay for a student?s entire living expenses at that university, whereas a partial scholarship would require additional funds from the student. These awards are few and very competitive.

Assistantship : Most students who receive assistance usually do so in the form of an assistantship, i.e. a cash stipend sufficient for their living expenses, and/or tuition waiver. To get this, they have to work for a maximum of 20 hours per week. This work normally consists of teaching and research activities. Teaching assistantships are more likely to be in universities, which have large undergraduate classes whereas research assistantships tend to be more common in those fields and universities in which considerable research is in progress. Information brochures of most universities give this information.
Who Should Apply?

Students have a greater chance of getting financial aid if they :

show evidence of a high level of academic achievement
achieve high GMAT scores
demonstrate financial need but have private funding to cover some of the cost. Financial need is not crucial for some awards.




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Bank Loans & Aid from other Sources (U.S.) Top


Bank Loans

These are the best alternative for students applying to the MBA program. One thing to keep in mind when applying for loans is that, in most cases, you need to have a co-signer who is a U.S. citizen or permanent resident. The co-signer is responsible for paying back the loan if you should default on it.

There are some banks that waive the co-signer requirement for specific schools. You should check this information from the school website.

As an example, Citibank provides loans to international students admitted to Harvard Business School without a co-signer. Another example is Bank of America providing loans without a co-signer to students at Kenan-Flagler, University of North Carolina (at the time of writing this, the CEO of Bank of America is an alumnus of Kenan-Flagler School of Management)

The terms of the loans usually require any interest or principal payments after graduation. Read the terms of any and all loans before you sign. Make sure you understand those terms and what your repayment schedule and fees entail. Ask for assistance in interpreting the fine print if you are having trouble understanding it.

We have seen that a lot of students are very debt-averse. If you have been accepted to a good program, your chances of getting a good job are very good and paying off the loan is not that big an ordeal as it seems. So, if you do get admitted to a school of your choice, we would recommend that you explore this funding alternative.

Other Sources

There are many other sources of funding especially for graduate students applying to the universities in US. These need some spadework. If you try hard, you may find the kind of funding that suits your needs.

A few good websites that offer information for international students are :

Financial Aid for International Students (www.finaid.org)

NAFSA Association of International Educators (www.nafsa.org)




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Scholarships in U.S.A. Top


AT&T Leadership Awards (For U.S. only): U.S. $ 5,000 awards for the students from the Asia-Pacific region going to the U.S. for study in any discipline. Six of the 36 awards went to Indians in 1998. Applications must reach the programme?s Malaysia office by 15th September. Decisions are announced by 31st December.

For more details and application form, write to USEFI or email awards@attmail.com or fax at (886) 2-2715-7013 (attn: AT&T Leadership Award)

Rotary Ambassadorial Scholarships: The scholarship amount goes upto U.S. $ 23,000 for studies in any subject and any country.

For any information, contact any Rotary Club office or write to:
The Scholarships Programme,
Rotary Foundation,
Rotary International, One Rotary Centre,
1560 Sherman Avenue,
Evanston, Illinois, U.S.A.

Admin

cale 17.03.2006. 12:04

Can anyone help me with my principles of management class? Array

cale

Admin 17.03.2006. 12:04

1. A fundamental rule or law of action based upon desirable ends or objectives. A principle is more basic than a policy or a procedure and generally governs both.

2. A fundamental truth, or what is believed to be truth at a given time, explaining relationships between two or more sets of variables, usually an independent variable and a dependent variable; may be descriptive, explaining what will happen, or prescriptive (or normative), indicating what a person should do. In the latter case, principles reflect some scale of values, such as efficiency, and therefore imply value judgments.

Webster defines 'Practice', on the other hand, as "customary use, method or art of doing anything...". Cleland and Kerzner do not include a definition for this term.

Thus, 'Practice' is a way of doing things and 'Principles' and 'Practices' may be distinguished by the difference between 'What' and 'How'. In Cleland and Kerzner's second definition there appears to be some overlap perhaps reflecting the confusion evident in the marketplace.

At first glance it would appear that the use of the qualifier 'First' with 'Principle' is redundant. However, in scientific circles, the idea of 'First Principles' is a common concept describing root or axiomatic ideas that provide the absolutely essential foundations for further thought and analysis. Since we are interested here in the very origin of project management, we use the term 'First Principle' advisedly.

Project

There are many and varying definitions of the term 'project'. For our purposes: "A project is a novel undertaking to create a new product or service the delivery of which signals completion. Projects are typically constrained by limited resources." Also for our purpose, such a project is viewed from the perspective of the 'owner' or 'sponsor' and begins when resources are dedicated to its specific goal, commencing with activities such as 'Concept Exploration', 'Initiation' or 'Inception', etc.

Product Scope

Product Scope, typically but loosely just referred to as 'scope', is used in the narrower sense of "The definition that describes the project's product deliverables."[6] This is not the same as the 'Scope of Work' which describes "The work involved in the design, fabrication and assembly of the components of a project's deliverable into a working product."[7] The term 'product' includes the delivery of a 'service'.

Quality Grade

We use the term 'Quality Grade' to distinguish it from the term 'Quality' which is typically taken to mean "The totality of features and characteristics of a product or service that bear on its ability to satisfy stated or implied needs."[8] Quality Grade on the other hand is "A particular attribute of an item, product or service, which meets all minimum project requirements but which may be delivered according to a class ranging from 'utility' (purely functional) to 'world class' (equal to the best of the best)."[9] As such, Quality Grade is a separate variable. It is also the most enduring in terms of project success.

Project Success

Project success is a multi-dimensional construct[10] that inevitably means different things to different people. It is best expressed at the beginning of a project in terms of key and measurable criteria upon which the relative success or failure of the project may be judged. For example, those that:[11]

Meet key objectives of the project such as the business objectives of the sponsoring organization, owner or user, and
Elicit satisfaction with the project management process, i.e. that the deliverable is complete, up to standard, is on time and within budget, and
Reflect general acceptance and satisfaction with the project's deliverable on the part of the project's customer and the majority of the project's community at some time in the future.
Project success is closely linked to opportunity and risk. Projects by their nature are risky endeavors and some project hazards cannot be entirely avoided or mitigated even when identified. Since project success may be impacted by risk events, it follows that both opportunity and risk are necessarily shared amongst the participants.

It is also important to note that success criteria can change with time. That certain objectives were not achieved does not necessarily mean that the project was a failure.

Project Customer and Project Community

Rather than project stakeholders and constituents, we prefer the more focused terms 'customer' and 'community'. Project Customer is the immediate recipient of the product of the project, who will use it and is in the best position to evaluate its acceptability after a suitable period of learning. The 'customer' may be more than one person. Project Community includes anyone who is impacted by project activities or its product, either directly or indirectly and for better or worse.

Admin

GAWDZILLA 17.06.2009. 20:18

What's the best way for 47% of Americans to protect their choice to have no health care insurance?
Oops! You're right, I had meant 47 million. Lol, the typo queen strikes again.

(((Purdey)))

GAWDZILLA

Admin 17.06.2009. 20:18

Rely on Washington! They've got it all covered and are working tirelessly with the good people of the insurance companies to make sure their profit, umm I mean your choice of course, is fully protected.

The problem with Americas healthcare system is the corporate obsession with profit over people. The equation can be changed with a single payer plan, which the majority of Americans support.

Almost 30 key lawmakers helping draft landmark health-care legislation have financial holdings in the industry, totaling nearly $11 million worth of personal investments in a sector that could be dramatically reshaped by this summer's debate.
http://www.washingtonpost.com/wp-dyn/content/article/2009/06/12/AR2009061204075.html
The Obama administration?s outlook on health care reform was spelled out in even more straightforward fashion in an opinion piece by Peter Orszag, director of the Office of Management and Budget, published June 15 in the Financial Times.
Orszag writes, ?Healthcare cost growth dwarfs any of the other long-term fiscal challenges the US faces. Nothing else we do on the fiscal front will matter much if we fail to address rapidly rising healthcare costs.?
After noting that the ?US spends almost 50 percent more per person on healthcare than the next most costly nation,? Orszag stresses that ?Mr. Obama is firmly committed to making healthcare reform deficit neutral over the next decade, using real savings or revenue proposals that can be scored by the Congressional Budget Office.?

Such ?real savings? in an Obama-envisioned health reform are to be achieved by making real cuts to medical services. ?Reducing the number of tests, procedures and other medical costs that do not improve health presents an enormous opportunity,? he argues.

Orszag reviews how Obama has proposed generating $635 billion for healthcare, with roughly half of this?or some $317 billion?coming from Medicare and Medicaid ?efficiencies ... such as reducing Medicare overpayments to private insurers.?
He reminds his readers that last Saturday, Obama proposed an additional $313 billion in Medicare and Medicaid cuts, ?including a proposal that will generate about $106 billion in savings over 10 years by reducing payments that help hospitals with the cost of treating patients without insurance.?
Orszag ominously notes, ?This is not the end of our commitment to fiscal responsibility.? He says with healthcare reform secured, the government can then concentrate on ?other aspects of fiscal sustainability, including Social Security reform.?

Of course, no such concern for ?fiscal responsibility? has prevented the Obama administration from handing over of trillions in taxpayer dollars, with no strings attached, to bail out the banks.
When it comes to health care, however, millions of uninsured Americans can expect to remain without coverage, as the White House maintains its commitment to ?deficit neutral? reform. As the recession deepens, this policy can only spell financial and physical hardship for working class families, with disastrous outcomes for many.
http://www.wsws.org/articles/2009/jun2009/heal-j17.shtml

Admin

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