What is strategy?
As everyone thinks, strategy is not actually a plan. It's a long term plan. Everyone has their own strategy. Without strategy, no one can succeed. Success not only depends on the strategy but with a proper strategy there is an assurance of success.
If we come across the life history of successful organisation or successful person, most of them would have followed a strategy. Strategy does not comes in a single day. It should be planned by analysing the external environment and the internal capacity. If the internal capacity does not matches/ it cannot meet out requirements the strategy fails. In this situation the strategy should be changed accordingly. Usually the strategy should be made properly. A good strategy which gives success to one particular organisation need not work for some other organisation. Itdoesnt mean that strategy should not be copied, but before copying it must be properly evaluated and then it should be adapted.
my blog is specific about nothing but it contains all about everything.
Saturday, February 27, 2010
Thursday, February 25, 2010
dance by students
Do you think i am in happy mood to watch and enjoy the dance by students of my class!!!
Really its boring to see but they know how tough it is to dance..
They really practice a lot to perform well.. but for me to hear the same song for so many times its really difficult. If you hear the line that was repeated you will also get irritated..Yahoo yahooo this was the line that was repeated again and again. Already yahoo is the competitor of Google. Even though they know that this is a blog of google they sang as yahoo.. As being a customer of google i got tensed and planning to sing a song in the next competition as
"google google".. All the best google.. keep rocking by having a great post like this. Especially from me :)
Dont you think how great i have corelated the dance with our blog.. wow great.. but the wow competition that was held in my college was not great to me.. i think this correlation is enough today:)
Really its boring to see but they know how tough it is to dance..
They really practice a lot to perform well.. but for me to hear the same song for so many times its really difficult. If you hear the line that was repeated you will also get irritated..Yahoo yahooo this was the line that was repeated again and again. Already yahoo is the competitor of Google. Even though they know that this is a blog of google they sang as yahoo.. As being a customer of google i got tensed and planning to sing a song in the next competition as
"google google".. All the best google.. keep rocking by having a great post like this. Especially from me :)
Dont you think how great i have corelated the dance with our blog.. wow great.. but the wow competition that was held in my college was not great to me.. i think this correlation is enough today:)
Tuesday, February 2, 2010
Finance
Treasurer:
The major concern for the treasurer is with the financing activities of the firm. The responsibilities of the treasurer include
• Obtaining finance:
Identify the future requirement of funds and suggesting the management for sources of funds
• Banking relationship:
Deals with the banking transactions, check whether the bank balance tallies with the receipt total
• Investor relationship:
Deals directly with the investors regarding future investments of funds
• Short-term financing:
Analyse the current situation and advise the management for short term investment
• Cash management:
Receives the cash, billing, managing daily transaction of cash
• Credit management:
Managing the accounts payable and receivables
• Investment
Analysing the future needs and suggesting the management for investing
• Insurance
Makes sure of Insurance payments
Controller:
The major concerns of controller are
• Financial accounting:
Verifies the financial reports
• Internal audit
Suggestion for improvement, towards organisational goal, financial statements & report verify according to laws and regulations.
• Taxation:
Calculate the tax based on profit.
• Management accounting and control
Preparing balance sheet and cash flows. Financial forecast.
• Budgeting planning and control:
Prepares the budget and compares with the actual performance, Implement the policies to achieve the organisational goal.
• Economic appraisal:
Analysing the cost and benefits of the project/plan.
Functions of Accountant:
Receive and send purchase quotation
Approval of orders
Records the various transactions like payments of Salary and travel allowance for employees
Forwards the DD to the person concerned
Manage and maintain bank accounts, ensuring the organisation gets the best rate of return
Reconciliation
Prepares the balance sheet and calculates the tax and ensure tax regulations are compiled with.
Leads budget planning and preparations along with the top management
Signature authority
Audit:
Audit is done only by external agency, no internal audit is done over there
Conclusion:
The firm does not have a separate treasurer and a controller. The combined activities of both the designations are carried out by the accountant there. Since the firm is a small one, all the financial activities are done by the single accountant. As the firm is a developing one and not an established firm, it is necessary that majority of the decisions that involve money could be taken only by the person who is capable of raising it. Hence the accountant of REACH gives the suggestions but the final decisions are taken by the CEO who is the fund raiser there.
The other main reason is that the firm being a developing one, it cannot afford to have a finance department separately wherein they can have a treasurer and controller designation. So activities which involves recording, registering and entry makings are done by the accountant along with the few functions of the treasurer and controller, where as decisions and the functions that involves a sufficiently large amount is carried out by the top management, being the CEO here.
The major concern for the treasurer is with the financing activities of the firm. The responsibilities of the treasurer include
• Obtaining finance:
Identify the future requirement of funds and suggesting the management for sources of funds
• Banking relationship:
Deals with the banking transactions, check whether the bank balance tallies with the receipt total
• Investor relationship:
Deals directly with the investors regarding future investments of funds
• Short-term financing:
Analyse the current situation and advise the management for short term investment
• Cash management:
Receives the cash, billing, managing daily transaction of cash
• Credit management:
Managing the accounts payable and receivables
• Investment
Analysing the future needs and suggesting the management for investing
• Insurance
Makes sure of Insurance payments
Controller:
The major concerns of controller are
• Financial accounting:
Verifies the financial reports
• Internal audit
Suggestion for improvement, towards organisational goal, financial statements & report verify according to laws and regulations.
• Taxation:
Calculate the tax based on profit.
• Management accounting and control
Preparing balance sheet and cash flows. Financial forecast.
• Budgeting planning and control:
Prepares the budget and compares with the actual performance, Implement the policies to achieve the organisational goal.
• Economic appraisal:
Analysing the cost and benefits of the project/plan.
Functions of Accountant:
Receive and send purchase quotation
Approval of orders
Records the various transactions like payments of Salary and travel allowance for employees
Forwards the DD to the person concerned
Manage and maintain bank accounts, ensuring the organisation gets the best rate of return
Reconciliation
Prepares the balance sheet and calculates the tax and ensure tax regulations are compiled with.
Leads budget planning and preparations along with the top management
Signature authority
Audit:
Audit is done only by external agency, no internal audit is done over there
Conclusion:
The firm does not have a separate treasurer and a controller. The combined activities of both the designations are carried out by the accountant there. Since the firm is a small one, all the financial activities are done by the single accountant. As the firm is a developing one and not an established firm, it is necessary that majority of the decisions that involve money could be taken only by the person who is capable of raising it. Hence the accountant of REACH gives the suggestions but the final decisions are taken by the CEO who is the fund raiser there.
The other main reason is that the firm being a developing one, it cannot afford to have a finance department separately wherein they can have a treasurer and controller designation. So activities which involves recording, registering and entry makings are done by the accountant along with the few functions of the treasurer and controller, where as decisions and the functions that involves a sufficiently large amount is carried out by the top management, being the CEO here.
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