Talent versus hardwork

Talent is a heavenly gift to a person. It’s an exceptional aptitude with considerable genius. It is the ability to do something well or more efficiently than those who lack it in a particular area. On the basis of his talent, one can perform his tasks in an effective manner and faster than others, but it must be noted that talent is not enough for desired success. In order to achieve the intended goals or objectives, talent must be accompanied by sincere efforts and hard work. It is thus the hard work is a key to success going with talent.

Both talent and hard work play a significant role in the attainment of desired goals. Being a hard working person is paving oneself the ways for growth and development and leading in the direction of success, while being talented is considerably reducing the time and efforts that are required in the attainment of desired success. It is due to the fact that a talented person is the possessor of considerable genius on which basis he can learn things swiftly and produce the desired results efficiently and effectively.

The proverb “Practice makes man perfect” is analogous to this context, because being talented does not guarantee attaining perfection. In order to attain the objective to the level of perfection one has to work hard. It may not be going to an extreme to say that being dedicated and hardworking can fetch one such results that are not attained even by the talented persons. At this point, the saying is worth mentioning,“Hard work beats talent when talent fails to work hard.” When both talent and hard work go hand in hand, there will be more impressive achievements.

One must therefore understand the importance of both talent and hard work if one is going to set his personal objectives and is willing to accomplish the planned and intended results accordingly. It is worthwhile mentioning, even without having talent, one may survive based on hard work, but talent will not thrive without hard work. If both go well with each other, there will be ceaseless success.

Written by:
K. A. Fareed (Fareed Siddiqui)
Writer, Trainer, Author, Blogger, Software Developer
BBA, MBA-Finance, MPhil-Financial Management, (PhD-Management)
MA-English, MPhil-English
Post Graduate Diploma in Computer Applications and Programming
Certificate course in English language proficiency
Level 1 – Leadership and Management ILM – UK
Pursuing CMA-USA
Individual Member of Institute of Management Consultants of India

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Reading: Need, Importance and Benefits of reading

Every individual needs knowledge, wisdom, ideas and the ability to build better life; to solve both existing and arising problems of life, so that he may live life comfortably and contentedly. These are such important elements that enable one to follow the path of reason and intellect while helping him to grow and develop from within. Even those who have been deprived of education seem to have had an intense desire of these.This leads one to recognize and remind the importance of learning while emphasizing on “Live and learn” so that one can enhance knowledge and eventually get wise to oneself. It is thus very necessary for every individual to keep himself well-informed and cultured by dint of learning and agreeing to take it as a lifelong learning process. This is possible- one can become cultivated if he cultivates good practices or habits. One of the best activities that brings one gratifying fruition is the habit of reading because reading is the best source of providing massive amount of useful information, as Sir Francis Bacon says, “Reading maketh a full man; conference a ready man; and writing an exact man.” Of these three parts of the quotation, reading is the very basic step for the acquisition of knowledge which provides required information to a reader.

Blessed is the person who has inculcated the habit of reading as he is not lonely or unhappy, but being at ease, he is in the company of scholars, authors, poets, writers, artists and professionals while reading, with pleasure, the contents to his heart content. In fact, the blessings of reading are in plenty, but the single most significant one is that the reader is bestowed upon a lifelong source of inspiration and pleasure of contentment provided that he reads the right kind of stuff that may let him tread in the right direction leading him towards the right thinking and the right application of acquired knowledge.

The society we live in is changing rapidly. The present period of time is the period of science and technology and the constant developments in the domain of technology have brought unparalleled progress in almost all the fields of human endeavors and the technology is universally laid and accepted and agreed with all its inclusive structure. Thus, in this dynamic world which is replete with challenges and intense competitions all around, one must strive to be competent and skilled that he may find favorable opportunities; that the capabilities may have occasion to blossom and finally the life may be merry and fulfilling.This can be attainable if an individual habitually reads the right kind of books and stuff to enhance both knowledge and wisdom.

Evidence reveals that many an author have not only inspired the individuals to change their lives for the better but also made them successful in their every walk of life. It thus may be said that those who have succeeded wouldn’t have been successful had they not read those authors. This gives rise to get into the habit of reading and persistently committed to it so that one can get satisfaction from the stuff he reads while gaining more and more knowledge and being able to make sensible decisions and judgments on the basis of personal knowledge.

There are varieties of subjects available to be read about – depending upon one’s selection or discrimination. In any manner or way, Reading is the best source of knowledge, inspiration and lifelong pleasure. Reading may be for enjoyment or entertainment which you can get by reading novels or short stories and the articles providing tips for your daily life.In order to get hold on professional subject matters and to gain conceptual development, you need to read the related material and articles. If you want to enhance your concentration and brain power, you must read those texts that require your attention to be focused helping you out to improve your concentration. Poetry has great power and appeal to instill noble thoughts in readers. When you are weary due to hectic schedule, you need to spare a little time to rest and to relax by reading those pieces of writings that provide a healthy recreation.

The modern world we live in is full of information in the form of literature, study material, facts and the pieces of writings on various subjects providing an individual not only the required knowledge but also the methods to improve the skills.There is a lot of good stuff available on the internet relating to religion, literature, geography, history, poetry sociology, psychology, science and space science and much more which can be chosen according to the interest and taste.

Thus, it’s worth mentioing what has been pointed out by Socrates, the great philosopher, “Employ your time in improving yourself by other men’s writing so that you shall come easily by what others have labored hard for.”

Written by:

K. A. Fareed (Fareed Siddiqui)

Writer, Trainer, Author, blogger, Software Developer

BBA, MBA-Finance, MPhil-Financial Management, (PhD-Management)

MA-English, MPhil-English

Post Graduate Diploma in Computer Applications and Programming

Level 1 – Leadership and Management ILM – UK

Pursuing CMA-USA

Individual Member of Institute of Management Consultants of India

Some Important ways to gain trust in others to maintain good relationships

Stable relationship is built on the basis of love, trust and respect. You need to trust others so that you may be trusted as well. Although it is true that you should not give away your trust easily, you need to observe certain characteristics in another person before you trust him or her, once you know people around you and gain confidence in them, you need to trust in a way as it should be so that you may be trusted as well.

If truth be told, trust is gained based on truth. Telling the truth always is the most important consideration if you want to stay trustworthy. Hence, building and maintaining a strong relationship requires trust and trust is built if you are truth speaker and frank and honest person.

It is very much important to maintain transparency between your talks and deeds. The relationship between what you are – on the inside and what you do – on the outside has a lot to do with your relationship that you want to maintain with others. Some people do not continue to be consistent with what they talk and what they act. Their statements are not consistent with the truth or what they told in the past. They are inconsistent in both principles and conduct. Remember that there should not be any contradiction between what you talk and what you act, but there must be consistency between your word and deed. Hence, consistency between words and deeds leads to build trust in others resulting in strengthening the relationship, while inconsistency destroys the relationship.

Giving respect to others is another important factor to not only gain trust in others but earn you respect in return. It also enables you to get good reputation in the people and society, as it implies that you are a morally upstanding person.

There are also some important ways in which you can gain trust in others, such as, being patient, tolerant, being ready to make sacrifice for others, having empathy for others and most importantly, keep finding the ways of removing negative attitudes of the people towards you.

Written by:

K. A. Fareed (Fareed Siddiqui)

Writer, Trainer, Author, blogger, Software Developer

BBA, MBA-Finance, MPhil-Financial Management, (PhD-Management)

MA-English, MPhil-English

Post Graduate Diploma in Computer Applications and Programming

Level 1 – Leadership and Management ILM – UK

Pursuing CMA-USA

Individual Member of Institute of Management Consultants of India

Ways to overcome boredom

It is important to know that boredom is actually an emotional state of mind. You start experiencing it when you have nothing to do in particular. The aggregate surrounding conditions are not as much important as it is how you take it all. So, one of the best ways to beat your boredom is the realization that the situations are not a greater cause of your boredom than your emotional state of mind itself that drives you in a way you feel bored. It must be noted that your state of mind has a direct impact on what you feel and what you do. Hence, altering your mental state is within your control.

Whenever you feel bored, you should try to find the source of boredom so that you can tackle it effectively. Knowing what causes boredom is the half solution to your problem. Once you find the source of boredom or the situational clues to underlying causes of your boredom, you may not only find ways to relieve your boredom, you may also be in a position not to allow any space for it the future in case the same situations arise.

Boredom is the enemy of happiness. If you want to feel better and happier, then, defeat the enemy of your happiness. One of the best things to conquer it is that you do not lack things to do. If boredom is when you are unable to do things you want to do, then, you need to motivate yourself and manage your time in such a way as to eliminate the cause of boredom. Keep yourself busy with those activities that interest you best, such as, reading, watching TV or playing games or social activities etc. By doing so, you can get out of boredom and turn it into fun.

Remember that you are not physically confined to a room or you don’t stay in a closed area. Doing so may increase your boredom rather than being a remedy. The air that we breathe indoors is not as fresh as it is outside. You need to go outside to feel better. Breathing fresh air for a few minutes freshens your mind, changes your mood immediately and makes you more positive. Besides, humming or singing hymns, heart soothing songs, listening alluring music during the time when you are being bored is another way for your own entertainment.

Sometimes a consistent and boring routine of activities can make you feel bored. Being a mind-numbing experience, it may lead to troubles and frustrations. If you want to overcome this aspect of your current life, you need to explore the ways or the new possibilities to tackle the situation currently as well as to prevent long term boredom. You should not allow your boredom to overtake you. Instead of sitting idle when feel bored, you should do some useful things and let your creativity flow without letting it blocked by just expectations. Using your creative thinking and skills will not only enable you to beat your boredom, but also prevent long term boredom. This way, boredom may possibly be good, as it gives the opportunity to bring self-improvement for all your sake.

Written by:
K. A. Fareed (Fareed Siddiqui)
Writer, Trainer, Author, Blogger, Software Developer
BBA, MBA-Finance, MPhil-Financial Management, (PhD-Management)
MA-English, MPhil-English
Post Graduate Diploma in Computer Applications and Programming
Certificate course in English language proficiency
Level 1 – Leadership and Management ILM – UK
Pursuing CMA-USA
Individual Member of Institute of Management Consultants of India

How to deal with discouragement effectively

“Don’t be discouraged by your incapacity to dispel darkness from the world. Light your little candle and step forward.” – Mata Amritanandamayi

The fact that we all get discouraged at some point in time or often in our lives cannot be denied. Either the circumstances discourage us or we are discouraged by some negative people around us. There is no escape from discouragement. Somewhere or other you will find the people who try to discourage you. Discouragement is something that makes you less confident and less motivated reducing your will power. It hinders you from achieving your goals and objectives. Regardless of whether we get discouraged or we are discouraged, it is important to know how we can rise above it and deal with it effectively. So, dealing with discouragement effectively helps us live life peacefully and successfully. If you ever think how to deal with discouraging situations, this article might be of some help. Below are some important ways in which you can cope with discouragement.

If you don’t want to be discouraged or disappointed, stop blaming circumstances or people for your problems and for bad luck. Remember that there is always something that can be done to overcome situations. The fact that luck is when preparation meets opportunity remains there always to be true to assist you during such times in which you get discouraged. So, In order to make luck in your favor, instead of being discouraged and disheartened by obstacles, you need to admit your failures or weaknesses, so that you may learn from yourself and have the chances for self-development and success. In doing so, you may not only be in a position to deal with discouragement successfully, but you can also achieve success in the attainment of your goals and objectives.

You have to be strong and courageous. Remember that those who don’t have strong will power and courage are  often discouraged. If your goals are realistic and you have strong will power to achieve them, then you need not be afraid of results and neither you should be discouraged. You must work hard to be successful, because hard work can bring the expected results and the desired success. If you want to reach your goals in life, remind yourself that the formula of success is to have a vision, effective planning, passion and making persistent efforts in the direction of your goals. It must be borne in mind that having unrealistic expectations of yourself discourages while setting realistic, specific,measurable and achievable goals can keep you motivated in order that you may be successful without being discouraged. It’s worth mentioning what has been pointed out by an anonymous writer, “Be stubborn about your goals, and flexible about your methods.”

What to speak of those who have possessed negative views. Negative people may be anywhere in the world. It is not uncommon that you find them around you. They try to discourage you and slow you down towards achieving your goals. One of the most apparent characteristics of negative people is that they neither do something great, nor are they happy to see others doing so. Conversely, instead of appreciating others upon their success, they would start finding faults or making negative comments. This should not let you lose your hope and enthusiasm. At this point, it is appropriate to mention what has been said by Thema Davis in this regard, “Some people don’t like you just because your strength reminds them of their weaknesses. Don’t let the hate slow you down.”  

The people who discourage you may be your friends, your boss or colleagues or it may be those who love and care about you.There must be some inner motives behind why they do so or reasons as to why they get motivated to discourage you. Some may think you are not confident. Some may do so because they are afraid of your possible success. However, some reasons may be valid while some of them may not be. Although there is no test to determine if their motives are true, you can interpret their motives and behavior, as these are environmentally responsible. Hence, what needs to be done is to show your strong determination and sheer willfulness to accomplish your goals and objectives. Success comes to those who will and dare. Remember that it is none other than you who stops you from achieving your goals and objectives. If you have set realistic goals and motivated yourself accordingly, then you will not only have changed your life independently, but also achieved success successfully. Remember that “You are only as strong as you allow yourself to be. Never get discouraged, never give up. Consistency and dedication is the key to success.”

Spare some time to think about yourself. Admire yourself about the positive aspects of your personality. Think that how you can overcome the negative aspects of your personality. In this way, a constant self-appraisal must be maintained so that you can gain more confidence in you in terms of your strong areas while you can eliminate your weak areas successfully. Improve your overall personality and strengthen your character in such a manner that it could allow you to improve your entire life and help you not to get discouraged even if you go through setbacks. You need to improve your confidence level, knowledge, speaking ability and positive attitude so that you can deal with discouraging situations effectively.

Take a look at Professional Presentations

Written by:
K. A. Fareed (Fareed Siddiqui)
Writer, Trainer, Author, Blogger, Software Developer
BBA, MBA-Finance, MPhil-Financial Management, (MSc-Software Engineering)
(PhD-Management)
MA-English, MPhil-English
Post Graduate Diploma in Computer Applications and Programming
Certificate course in English language proficiency
Level 1 – Leadership and Management ILM – UK
Pursuing CMA-USA
Individual Member of Institute of Management Consultants of India

Accounting Discipline – How Accounting is connected with other disciplines

Accounting is a multifaceted discipline of identifying, measuring and communicating of an organization’s economic health. The discipline of accounting is best understood when one has strong conceptual understanding of other interconnected disciplines. The other disciplines which accounting is increasingly seen to interact with are: Economics, Mathematics, Statistics, Law and Management. Let’s discuss in brief the relationship of accounting with its related disciplines.

Relationship between accounting and economics – When considering the obviousness of their interconnection what is understood is that both accounting and economics are concerned with the effective and efficient utilization of resources, rather, when they are scarce. Both accounting and economics are meant to maximize the wealth and so the economists and accountants are consistent with the aspect that capital should be intact when calculating the income. The income can be distributed without affecting capital. More importantly, whenever there is a need for any economical decision making, there is a need for accounting. Accounting is intended to provide information to the owner of a business firm, on the other hand, economics is concerned with how the overall economy works and how single markets function. It can be understood that accounting provides the information upon which the economics models are prepared. Besides, it is important to note that with regard to the problems in relation to profit maximization, there is a great need for understanding the rate of interest and payment of dividends. And in order to deal with such problems both accounting and economic theory are of great significance. It is thus to be said that both accounting and economics are connected with each other.

Relationship between accounting and Mathematics – Accounting deals with concrete numbers expressing real sums and involving operations to create a good set of numbers- going beyond the numbers- determining financial position of a business house and ensuring whether or not a business is making money. In doing so, it involves basic computational mathematics. Moreover, the basic system of accounting needs to be changed into an accounting equation which shows Left hand side- LHS equals Right Hand Side- RHS. In this way, the knowledge of arithmetic and algebra are prerequisite for accounting computations and measurements.

Relationship between accounting and statistics – Accounting is not just about the preparation of accounting information, but it necessitates interpreting and presenting the financial information which leads to create tables and graphs. The knowledge of creating tables and graphs is attained through the discipline of statistics. There is another important factor to consider how accounting is connected with statistics is that it uses price indices which has to do with creating tables, while the interpretation involves making absolute and relative comparison by means of ratio analysis. Thus, for doing all these, the knowledge of statistics is much needed and so accounting is linked with statistics as well.

Relationship between accounting and Law – Accounting is connected with law, as it operates within a legal environment and thus all the transactions are governed on the basis of different acts. Business organizations are governed by their respective statues that provide many aspects pertaining to the preparation of accounts. However, it is likely that accounting influences law and is also influenced by law. In this way, accounting is also related to law because of many legal aspects and procedures.

Relationship between accounting and management – Management is administration of business. It involves organizing and controlling of the affairs of a business or a sector of a business. Management, in simple terms, getting things done and the methodology which is put into practice in order to get the things done or the functions with their sequence undertaken by a manager is what is said to be management process which involves: Planning, organizing, directing and controlling (PODC). Thus, management involves many functions and application of many disciplines, such as, economics, mathematics, statistics and computer etc. Accounting professionals are better off with what they study through their course to understand and use the data for providing the required accounting information to management for facilitating in decision making process.

Written by:
K.A. Fareed (Fareed Siddiqui)
Writer, Trainer, Author, blogger, Software Developer
BBA, MBA-Finance, MPhil-Financial Management, (PhD-Management)
MA-English, MPhil-English
Post Graduate Diploma in Computer Applications and Programming
Certificate course in English language proficiency
Level 1 – Leadership and Management ILM – UK
Pursuing CMA-USA
Individual Member of Institute of Management Consultants of India

Managers are born or made

Though it is quite controversial topic and some people seem to have conflicting opinions or point of views about it, but when it is to be considered whether it is possible to produce leaders or not, the answer will be affirmative, because developing leadership qualities necessitates bringing improvements in terms of overall abilities that are needed to manage organizational resources, especially, human resource effectively and efficiently. This would lead one to acquire necessary skills that are to be built and enhanced by actively attending training and mentoring programs aiming at fulfilling the desired results.

While it is true by virtue of having some inborn or natural abilities; by way of gaining experience and observing environmental factors, one can perform managerial and leadership role, it does not make assurance of the accuracy. Neither it’s as much of help as it should be for defining standards of performance and leading the team accordingly. In a given situation, untrained managers may fail to confront the tough situations. This can even lead to be no team excellence resulting poor performance and productivity. For all these above reasons, it may be rightly said that one may have innate abilities, but they need be developed more in order to perform better.

There are lots of training and mentoring programs out there to develop one’s leadership qualities. They aim at producing effective and efficient managers who can lead the business towards unceasing success. This can be regarded as an evidence based approach that bears out the fact that managers may be made.

Written by:
K. A. Fareed (Fareed Siddiqui)
Writer, Trainer, Author, Blogger, Software Developer
BBA, MBA-Finance, MPhil-Financial Management, (PhD-Management)
MA-English, MPhil-English
Post Graduate Diploma in Computer Applications and Programming
Certificate course in English language proficiency
Level 1 – Leadership and Management ILM – UK
Pursuing CMA-USA
Individual Member of Institute of Management Consultants of India

Euphemism – The Need and Importance of Euphemism in writing

The word Euphemism is derived from the Greek word “euphemismos”. Euphemism is an indirect word or phrase that people often use to refer to something embarrassing or unpleasant. In this way, the use of euphemism is to make it seem more acceptable than it really is. It is also a word or phrase used in place of a term that might be considered too direct, harsh, unpleasant, or offensive.

On the basis of evergreen or topical writings, the sole purpose of our writing on the interment is to enlarge readership and to convey right message and useful information pertaining to various aspects of everyday life of individuals so that everyone may be benefited and delighted accordingly, we should be careful about our writing. We should use appropriate language. We should not convey such a message that is offensive or hurts somebody’s feelings. Whenever such situation arises that makes you think that the particular word is incorrect or inappropriate, you should replace it with more appropriate and acceptable or general word to convey the message properly.

The euphemism for, “to die” is: “pass away, go to one’s final rest and depart this life” or for “lie” the euphemism is disinformation etc. So, if we wish to sharpen our writing we should use inoffensive synonym always. Also, socially, you may need to use some euphemisms if you don’t want to offend someone. Thus, it would be rightly said that euphemism is of a great need and importance in our writing.

Written by:

K. A. Fareed (Fareed Siddiqui)

Writer, Trainer, Author, blogger, Software Developer

BBA, MBA-Finance, MPhil-Financial Management, (PhD-Management)

MA-English, MPhil-English

Post Graduate Diploma in Computer Applications and Programming

Level 1 – Leadership and Management ILM – UK

Pursuing CMA-USA

Individual Member of Institute of Management Consultants of India

An Overview of Working Capital within Financial Management

Finance is much concerned with the effective utilization of funds. It’s focused on the arrangement of funds at the right time in order that the determined tasks may be carried out satisfactorily. Financial management plays a vital role; on account of which the liquidity position of a business is affected. The term liquidity refers to the ability of an organization to pay its current liabilities as they come due. Not only does financial management aim at the effective utilization but also at money management. If sufficient funds are available at the time when needed, a company can clear its short term debts; its operations can be maintained effectively and so the working capital financing lends a hand for a business to do well.

Working Capital is defined as, “The administration of the firm’s current assets and financing needed to support current assets.” The term working capital is used for day-to-day requirement of funds for a business. A business needs certain amount of cash for meeting routine payments, providing unforeseen events or purchasing raw materials for its production. The concept of working capital should be easily understandable since it is very much connected with our personal lives as well. In the sense, sufficient money is needed for our cost of living. We would like to collect the money owed to us, at the same time, we would like to pay whom we owe. If the ready money is not maintained properly or we fail to do so, the situation is called as bankruptcy or insolvency. The same applies to a business and the task of financial management in terms of working capital is to maintain sufficient funds for its day-to-day requirements, while safeguarding the business against the possibility of insolvency. Thus, the term working capital refers to the excess of the current assets over the current liabilities.

Current assets of a business are those that will be converted in to cash in twelve months period. They are: Cash, Receivables, inventories, marketable securities and prepayments. Current liabilities are those that are to be settled in twelve months period. Current liabilities are: Accounts payable, unearned revenues and wages payable.

“Cash is king” – despite the fact that the cash has its own costs. Cash is the most liquid asset to be presented commonly on the balance sheet as the first item. Management of cash is of great essence for a company. If adequate cash is not available as and when it is needed, the situation leads to bankruptcy. Management of cash and liquidity involves providing sufficient funds to the business for meeting various requirements at the right time, such as, repayment of bank loans, payment of taxes, payment of wages, purchases of raw materials and inventory etc. Moreover, holding the cash entails a precautionary motive in order to meet unforeseen events. Therefore, the cash must be managed properly and provided for arising contingencies. Apart from these, cash management also involves speeding cash inflows and slowing cash outflows. The former case indicates making collections as soon as they come due for collection while the latter indicates the payments to be made as close to the cut-off-date as possible – but it is not be taken in isolation – as it is likely to lose the facility of availing the discounts. So, the payments are to be made close to the cut-off-date while utilizing the discounts if any. In this manner, in the former case, the discount is offered for early payment –to generate the revenue quickly. In the latter case, the discount is availed – to clear the debts and using the facility of discount. This is how the two-fold benefit may be obtained.

Next in importance comes the receivables. It is universal truth that every Business has receivables. They are the dues from the credit customers. There are various reasons for credit sales, such as, to penetrate and establish in the market, to increase sales, to get more customers and to help customers on whom the fortune of a business is contingent. While managing receivables, an organization develops the policies which are beneficial to both customers as well as the organization that makes credit sales. Credit policies must have few standards, credit period, credit terms, etc so as to manage the receivables in an efficient manner. Credit standard is meant to the classification of customers depending upon the relationships and in terms of risk etc. The credit period is referred to how long a period should be allowed. Credit terms mean offering discount on early payment or the payment before the cut-off-date. In the point of fact, it should be understood that making much credit sales leads to great benefits and make profits on the one hand, while it involves the creation of bad debts or risks on the other. Thus, the best possible way is to be adopted for receivable is to manage within the accepted level with the establishment of planning as well as controlling measures.

The impact of inventory management on working capital is vitally important. A company, whether of trading or of manufacturing, has to carry certain amount of inventories. Inventories are classified as inventory of finished goods, of raw materials or of work in process depending upon the type of business. A trading company purchases or sells the finished goods whereas the manufacturing company deals with all types of inventories. At this juncture, it should be noted that having too much or too little inventory becomes a problematic cause in terms of sales and production. Also, even a little less or more amount of increase or decrease in the costs of inventories gives rise to a radical change in terms of overall amount of investments in the inventories. Thus, inventory management involves planning and controlling functions with regard to the order of quantity of even single unit and the specific task of inventory management is to answer the questions: when to order the inventory? How much inventory is needed and if any discounts are likely to be lost by not ordering as per the standard limit of order etc? It is therefore necessary for the process of inventory management to find satisfying answers to the above questions pertaining to various costs of the inventories. It is appropriate to mention that there are several techniques available for the effective management of Inventories with which a management may be benefited.

Mention deserves to be made about the determinants of working capital while the components are being discussed. The same may be outlined herein briefly.

The working capital is influenced by the nature of business. A trading business needs to invest a great deal of money in the working capital as compared to the money required in the fixed assets. The similar case in point is related to a manufacturing business as well.

Business Fluctuations have to do a lot with the management of working capital. The seasonal fluctuations have a great cause in relation to the production and services of a business. It is during a decline in the economy, sales will fall resulting in the level of inventories.

A business firm needs to be prompt in making collections. The working capital is also affected with the credit policy of a business. Establishing a liberal credit policy is having more trade debtors, while a restricted credit policy can reduce the size of trade debtors. However, depending upon the standing of customers and other factors a rationalized credit policy is to be formulated.

To end with, financial management is a distinctive area of business management and the Financial Manager has a key Role in overall business management ensuring the achievement of business objectives and wealth or profit maximization. Financial management is an integral part of overall management affecting the survival, growth and strength of a business. The sole task of financial management is maximization or optimizing the value of a business firm. If dealt effectively and efficiently, a financial manager can ward off a large number of problems while safeguarding the business against insolvency.

Written by:

K. A. Fareed (Fareed Siddiqui)

Writer, Trainer, Author, blogger, Software Developer

BBA, MBA-Finance, MPhil-Financial Management, (PhD-Management)

MA-English, MPhil-English

Post Graduate Diploma in Computer Applications and Programming

Level 1 – Leadership and Management ILM – UK

Pursuing CMA-USA

Individual Member of Institute of Management Consultants of India

Importance of Education, higher Education – Is higher Education worthwhile?

“After all, what is education but a process by which a person begins to learn how to learn?”

The word origin of the word Education is Latin. Education means the knowledge and skills that one gains from being taught. Providing informative experience, education leads one to acquire knowledge through learning process. Being the most profound and significant of all the facts that influence one in his individual life, education pays off well in the affairs of his everyday living. Basically, education as a whole helps individual to grow and develop from within while improving his thinking and reasoning process and showing the way to become acquainted with his potentials whereby he can be more independent and more self-confident to make careful judgments and so to live life satisfactorily.

As education is an informative experience, it is to be considered as ongoing process of acquiring knowledge through learning. If a person gains more knowledge, he can possess more awareness and intelligence.

The more an individual becomes educated, the more he has general awareness and the more he is in possession of information, facts and ideas and truths and principles. Education is also included in the sources, such as, age and experience that bestow the wisdom upon a person. It thus must be borne in mind that the expansion of higher education is a powerful force for change and development. It may be rightly said that gaining higher education is gaining higher skills. The more it’s acquired, the greater advantages it brings in some or the other gratifying form – without going in vain at all.

Higher education has a lot to do with the way of higher wisdom and professional development with rich experience. Evidence that the modern world we live in has surpassed all the ages can be found when we see the numerous benefits of science and technologies that have made obsolete the traditional kinds of activities. They are nothing but the boon of higher learning and knowledge.

Although seeing the social status and standard of living of business persons, entrepreneurs, industrialists or the people who are well-off, one may think for a while that possessing plenty of money is a matter of destiny, but soon he must be satisfied with this convincing evidence that in order to keep the status remained and to sustain the whole business and its functioning state, there are hands of highly educated and highly skilled people behind the whole process and success. In this way, higher learning becomes the source and the higher learning is attained by higher education.

It is not necessary that each and every job requires higher degrees or higher education, but there prevails a common understanding that in order to execute particular job, a candidate should have Post graduate degree. It is to be seen in the fact that the curriculum or the syllabus is designed as per the degrees. The higher the academic degrees, the higher the syllabus and more advanced curriculum. In this way, higher education is the requirement. It is assumed that a highly qualified candidate whose concepts are well developed, can handle even more advanced tasks and as such one must try to upgrade his knowledge and experience through higher learning that is attained on the basis of higher education. It can thus be said that attaining higher degrees means being more capable to execute more advanced and complicated tasks.

Written by:

K. A. Fareed (Fareed Siddiqui)

Writer, Trainer, Author, Software Developer

BBA, MBA-Finance, MPhil-Financial Management, (PhD-Management)

MA-English, MPhil-English

Post Graduate Diploma in Computer Applications and Programming

Level 1 – Leadership and Management ILM – UK

Pursuing CMA-USA

Individual Member of Institute of Management Consultants of India

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