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Methew Harbor

Advantages of Functional Departmentalization

Last Updated on February 27, 2022 By Methew Harbor Leave a Comment

Functional departmentalization has many advantages and is the most common kind of organizational departmentalization in industries and organizations. It makes supervision convenient, and people working together in one department can fix any issue more conveniently. It emphasizes the roles according to the organization and helps achieve them more efficiently.

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What is Functional Departmentalization?

Functional departmentalization refers to creating departments in an organization according to their function. It does not depend much on the skill set of the employees but on their expertise and qualification. For example, someone qualified in finance would be a part of the finance department and a chemical analyst is more suited for the quality department according to their expertise. Functional departmentalization has many advantages that make it a favorite structure in medium and large-sized organizations.

Advantages of Functional Departmentalization

Convenience

Functional departmentalization is one of the simplest methods of departmentalization that does not require extensive strategy-making to design or operate a department. It is easy to set up and operate with a relevant manager to supervise the department.

Specialization

Functional departmentalization allows specialization in that department, leading to increased efficiency and better service. For example, when people in the marketing department work on the same goals and keep digging more strategies to improve the brand’s marketing, everyone’s marketing skills polish and they specialize in their niche.

Reduced Cost

While the cost reduction is not directly related to functional departmentalization, it helps the organization by avoiding duplication in the company. Let’s say that the company is not departmentalized; HR might hire two people with slightly different but similar expertise. However, when each department has people with designated roles, duplication of employees with the same skillset for the same function does not occur.

Better Communication

When people are working in the same space, they continuously update each other about their progress. The processes work through a proper channel in a department and they communicate better, causing fewer misunderstandings. When such a departmentalization structure is absent, communication issues lead to problems in performing properly.

Better Supervision

When everyone in an organization works without functional departmentalization and reports to one person only, the supervisor is more susceptible to intermixing problems and their solutions, leading to more issues. However, when each department has a corresponding manager or director who is well-versed in that department, he can not only supervise the employees better, his expertise also helps the employees learn.

Improved Skills

Besides the learning from the managers and seniors, new employees gain experience by observing the processes in their department. Activities and pieces of training can be conducted to improve the skills of a particular department with the same functionality without engaging the whole of the organization and disturbing productivity.

Optimum Resource Utilisation

Functional departmentalization ensures optimum utilization of human and technological resources. It enables officers in a department to learn better and efficiently utilize available resources to provide positive outcomes.

Easy Evaluation

Departmentalization by function makes it easy for the higher hierarchy to evaluate the performance of a department and its employees. Departmental evaluation allows finding out if any particular department lacks resources and productivity and needs better ones. The managers and deputy managers help observe the performance of employees that contributes to appreciation and incentives eventually.

The Bottom Line

Functional departmentalization is the easiest form of departmentalization adapted in medium and large organizations with numerous employees expert in different niches. It allows the employees to express their best potential and provides beneficial outcomes to the company. One of the biggest advantages of Functional departmentalization is; it is excellent for the employer and the employee both as it makes performance evaluation and finding a solution to problems for the departments easy.

matt harbour
Methew Harbor

Matthew is a Co-Founder at BusinessFinanceArticles.org. Matthew was a floor manager at a local restaurant in Wales. He lost his job after the pandemic and took initiative to make a team and start the project.

Filed Under: Management

Scrum Master Vs. Project Manager

Last Updated on February 23, 2022 By Methew Harbor Leave a Comment

While a scrum master can be a project manager, and a project manager can be a scrum master, their roles are not the same. Both Scrum Master and Project Manager perform different functions in an organization and contribute to project success in distinct ways.

In simple words, a scrum master is responsible for ensuring the integration of the scrum framework in the project. In contrast, a project manager looks at overall processes in a project, including budgeting, teamwork, and resolving issues. Let’s talk about the differences between scrum master and project manager in detail.

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What is Scrum Master?

A scrum master in an organization makes sure that the project team works efficiently by implementing Scrum principles in the project. They can be called coaches or mentors who facilitate teams by providing them the knowledge of the effective application of the Scrum framework and principles. They ensure teamwork and good communication among the teammates. Scrum masters coach the team by informing them of the Scrum theory, rules, practices, and values.

What is Scrum?

To understand the role of a scrum master, it is essential to know what scrum is. Scrum is a project management framework in which a scrum masterworks with the product owner and development team to provide adaptive solutions to problems. The scrum master usually finds solutions and modifies the problem-solving approach to achieve goals.

What is a Project Manager?

Project managers are competent persons who take care of all matters of a project, including the planning, budgeting, execution, quality, and finalization of a project. While the scrum master usually works with the product owner, project managers report to the stakeholders and leadership. They have a wide range of roles and may work on multiple projects.

Do Scrum Master and Project Manager work together?

Despite having different roles, scrum master and project manager add to company progress collectively by working in their role capacities. Project masters ensure to resolve any time management, procurement issues, and risks associated with the project, and scrum master acts in the capacity of a coach or consultant to enhance technical skills.

Scrum Master Vs Project Manager: 6 Differences

Responsibilities Difference

Scrum masters: They act as consultants or mentors to the product owner and development team to improve productivity and team dynamics.

Project manager: They work on project management tasks, including scheduling, budgeting, procurement, implementation, and communication.

Difference in Expertise

Scrum master: The scrum master must have adequate knowledge of the scrum process to ensure appropriate implementation.

Project manager: They should be adept at negotiation, planning, execution, and leadership for everything to fall in place.

Role Differences

Scrum master: As the scrum master helps improve processes involving a scrum team, they do not have leadership.

Project manager: Project managers are the leaders in the project as they make sure that the objective of the project is met.

Risk Management Differences

Scrum master: The scrum master does not manage the risks that come with the product.

Project manager: A project manager bears the associated project management risks without blaming the team.

Difference in Projects

Scrum master: They work with one team at once to ensure efficiency and provide solutions.

Project manager: They manage multiple projects at one time to achieve company goals.

Difference in Team size

Scrum team: Scrum masters work with small teams of five to eleven members, including the product development team.

Project team: Project managers work in large teams to execute projects with different expertise.

Do Scrum Masters report to Project Managers?

While the project managers are leaders, they are not authorized to question scrum masters. They both report to the upper hierarchy. Scrum masters report to the product owner, stakeholders, and clients, whereas project managers are answerable to clients and stakeholders.

The Bottom Line

Scrum masters and project managers work together in an organization to make sure the objectives are achieved. Scrum masters act as mentors instead of being a part of the execution process. Project managers supervise working on the project altogether and ensure all objectives are achieved.

matt harbour
Methew Harbor

Matthew is a Co-Founder at BusinessFinanceArticles.org. Matthew was a floor manager at a local restaurant in Wales. He lost his job after the pandemic and took initiative to make a team and start the project.

Filed Under: Management

Objectives Of Sales Promotion

Last Updated on February 21, 2022 By Methew Harbor Leave a Comment

Marketing and sales are an integral part of any business to make sure that the product reaches potential customers and compels them to buy your product. Besides advertising, sales promotion is a sales technique that takes the product to the customers instead of bringing customers to the product. Sales promotion is one of the most popular sale methods used globally to keep dealers and customers engaged with the brand.

If a brand does not utilize sales promotion techniques, it may be lost among hundreds of other products. There are numerous objectives of sales promotion that eventually aid to more sales.

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Attracting new Customers

One of the techniques used in sales promotion involves giving samples to the customers. When customers are unsure about buying a product and receive samples, they believe that the brand is so confident in its quality that it does not shy away from offering a chunk of the product for trial. By offering samples and discounts, sales promotion basically focuses on generating a new customer base and building a brand on the trust of loyal customers.

Introduction of New Products

Introducing new products into the markets is among the most challenging and risky tasks, both for the brand and the dealer. If a business decides on introducing a new product or service into the market, convincing the dealer to display the goods is a huge task. Most dealers do not want to risk their clientele by offering products they are unsure about. Offering samples and discounts to the dealers can lure them into putting up your product for sale initially before it gains a place among other products.

Staying in Limelight

Have you seen your previous-favorite spice brand offering “buy one get one free” and resisted buying a set?

We understand that it is not easy to resist such offers, and the brand knows that. When they observe that the products are not as popular as before, such schemes are introduced that excite the customers and add to sales. They could be discounts, additional offers, or extra samples of other products. Targeting your potential customer base with the right kind of offers can help you achieve this objective of sales promotion.

Enhancing sales in existing customer base

If you think that sales promotion activities only help gain new customers or introduce new products into the market, they help retain old customers. Some schemes like getting a new bottle of oil on submitting two empty bottles or receiving coupons on spending a particular amount on an item can help keep your old customers attached to your brand. Sales promotion enables you to improve sales even with the previous customers without engaging more.

Increasing off-season sales

It is common to find an expensive refrigerator at a discounted price in winters or a premium electric heater at reduced prices in summers. While you may think, “what’s the need for low prices in seasons of low demand?” it is quite important to keep the products running.

Many products like air conditioners and heaters are seasonal, and the sales sometimes drop a lot in seasons of low demand. To ensure that the product maintains stable sales throughout the year, many companies offer discounts and coupons on purchases.

Increasing brand awareness

You may often come across an absolutely new brand offering samples of their product at the supermarket and convincing you to buy their product. One of the objectives of sales promotion strategies is to increase brand awareness among people and make them accustomed to their brand. Increasing brand awareness ultimately adds to their sales.

Making consumers switch brand

If you are a new brand in the market, brand awareness acts as a part of sales promotion to enable people to switch from their current favorite brand to yours. If your promotional activities reach the right potential consumers, they will most possibly shift from the brand they are using to switch to yours. However, it requires extensive marketing along with sales promotion to achieve this objective.

Encouraging B2B Sales

Some businesses are more inclined towards B2B businesses than B2C, requiring more effort than the latter. Most businesses would not want to change their old source and purchase a new brand in bulk. Sales promotion strategies allow businesses to engage wholesalers by offering some extra material at the same price or giving samples and gifts they can use. Encouraging B2B sales through sales promotion is one of the leading strategies to promote relationships with other businesses.

Stabilizes sales of slow-moving products

Sales promotions are widely adopted as one of the last resorts before discontinuing a product. If a brand observes continuous instability in the sales of a product that is not generating enough revenue, incentives and samples or discounts are offered to dealers to attract customers and present the products among the top choices. Many dealers only agree if the products are up to the standards. This way, sales promotion can sometimes give life to a dying product.

Eliminating the risks

Another objective of sales promotion is to reduce or eliminate the risks consumers sometimes associate with the product. You can give them a guarantee or offer to buy one get one free offer to attract them and ensure that they are getting value for money and their money is not wasted. This helps eliminate the risks associated with the product and improve sales.

The Bottom Line

With increasing competition, using techniques to stabilize and improve sales is inevitable. Sales promotion is one such strategy that allows you to bring the product to the consumer without looking for it. It ensures the product reaches the right potential customer base, and once objectives of sales promotion are met, they contribute significantly to sales and brand awareness.

matt harbour
Methew Harbor

Matthew is a Co-Founder at BusinessFinanceArticles.org. Matthew was a floor manager at a local restaurant in Wales. He lost his job after the pandemic and took initiative to make a team and start the project.

Filed Under: Marketing & Advertising

Types of Filing Systems

Last Updated on February 19, 2022 By Methew Harbor 1 Comment

Filing is an important part of any organization as it allows you to keep all data save and accessible. Like everything else around us, filing systems have also evolved in the past centuries and decades, providing more options to classify and file data according to your preference. While most organizations now follow digital filing systems, traditional filing systems also exist and are inevitable for many companies.

Filling System

What are Filing Systems?

A filing system may be simply defined as the method of gathering and categorizing data for easy access when needed. Filing systems are the need of every organization to keep memos, circulars, bills, and other important documents and data safe. Filing systems are divided based on different factors.

One of the filing system categorizations works on how the data is classified. They are also called the filing classification system and are named:

  • Alphabetical Filing System
  • Numeric Filing System
  • Alphanumeric Filing System
  • Terminal Digit Filing System

While these are the file classification system, filing systems are more about storing the data than classifying.

Types of Filing Systems

Filing systems are typically classified into two categories with sub-categories. The types of filing systems include;

Traditional Filing System

Traditional filing systems are the ones that have been used since the beginning and are still operated in some organizations according to the need. They cannot be completely removed from the filing systems, and they provide a purpose in some places. There are five types of traditional filing systems, some of which are outdated, while some are still in utilization.

Bundle filing

Bundle filing is the most primitive kind of filing system. In bundle filing, all the documents of a particular period are put together in a piece of cloth and tied. These bundles are arranged date-wise in racks. They were used in the old times to keep them together in one place and find the documents concerning the time they were produced or came in.

Wire filing

Wire filing is also known as spike filing as it makes use of a spike or wire attached to a wooden base either kept on the table or hung at a higher surface. The sharp end of the wire is used to insert the documents and letters into the wire to be accessed for later use. As newer letters are punched above the previous, they are arranged in chronological order and taken out in the same order if needed.

This method has been commonly used in small and medium-sized organizations as the wire hoop can only contain a small number of documents. They are susceptible to fire and not as safe as other methods of filing.

Why wire filing?

  • Easily organized
  • Takes less space
  • Cheapest method

Pigeon Hole filing

As the name suggests, pigeon-hole filing makes use of cabinets shaped like pigeon holes. Documents are usually categorized in alphabetical order, and each hole is given an alphabet for easy sorting. It is also known as docket filing. Pigeon hole filing cannot keep a lot of data and is primarily used in small organizations.

Why pigeon hole filing?

  • Protection from dust
  • Takes less time
  • It does not cost much

Cardboard filing

Cardboard filing is one of the earliest forms of filing that uses cardboard for filing. There are flaps on both sides of the cardboard with laces. These laces are used to tie both flaps together, securing the documents inside them. These documents are also put in chronological order, and the cardboard files are kept safe in cabinets. However, as these files are made of cardboard, they are not safe outside and must be kept in a cabinet.

Why cardboard filing?

  • Takes less space
  • Economical
  • Quick documentation

Box filing

The last of traditional filing systems is box filing. Box filing makes use of cardboard boxes to keep the documentation. Spring clips are attached to the box to keep the documents safe and accessible when needed. The documents are usually put chronologically, and separate boxes are used for different subjects. It is a common traditional filing method but not preferred due to technical issues. Sometimes the papers are not held adequately due to the spring being loose over a period.

Why box filing?

  • Cheap and convenient
  • Saves the files from spillage and dust
  • Easy to sort documents

Modern Filing Systems

As it was observed that traditional filing systems are good for small and medium-sized businesses, large ones use modern filing systems. They are divided into several sub-categories.

Horizontal filing

Horizontal filing comprises documents in folders or files placed over one another horizontally. There are two kinds of horizontal files; flat files and arch files.

Flat files have metal or plastic clips or laces on the left side of the file. Holes are punched in the paper using a punching machine and inserted into the file. Usually, documents are placed in chronological order, and you need to take out succeeding papers to take out a particular document.

Arch files have arches or round clips on the left side of the file. Paper is punched using a punch machine and then inserted into the file. You can easily find any document you want by opening the rings and searching for one.

Using horizontal filing can sometimes be time-consuming to find the right file.

Why horizontal filing?

  • Easy to operate
  • Convenient to find files
  • Many documents can be placed in one place

Vertical filing

Vertical filing is more convenient than horizontal filing as it is easier to locate the documents you are looking for. The files are placed in an upright position, and the names on the files are visible. Vertical filing uses the following equipment:

  • Folders
  • Cabinet
  • Guide card

Why vertical filing?

  • Easy to find documents
  • It is economical
  • Keeps the documents safe

Suspension filing

Suspension filing has advantages of vertical filing with an added benefit of suspended folders that make it even more simple to use and access documents. The drawer has a metal rod to suspend the documents attached to hinges. The need for extra equipment makes it a bit more expensive than other filing methods.

Why suspension filing?

  • Easy access
  • Extra safe

Lateral filing

Latera filing system is one of the most popular methods of filing in modern offices. They make use of envelope-like folders closed by metal strips. The folders are hung laterally on metal shelves for easy reach.

Why lateral filing?

  • Most convenient
  • Easy to find documents

Open shelf filing

Open shelf filing is commonly used for documents that need to be at an arm’s distance. The files or folders are laterally or horizontally kept on the shelves with proper classification. It is usually used in large offices to cater to massive amounts of data. However, the data is not very safe as it is open to all.

Why open shelf filing?

  • Easy to reach
  • Convenient to find documents

Electronic filing

Most modern offices use electronic filing as the main filing system to store data and documents. With advancements in technology, digital, cloud-based filing methods are also being adopted in offices globally, saving the cost of paper and keeping it safe while being accessible.

Why electronic filing?

  • Saves the cost of paper
  • Accessible to all authorized people
  • Ensures safety of documents

The Bottom Line

Filing systems are an integral part of any office, whether it is a small organization or a large business. While some organizations follow traditional filing systems, others are moving to modern types of filing systems and digital options. Ensuring the right kind of filing system for any organization can make documents easy to store and more accessible to authorized persons.

matt harbour
Methew Harbor

Matthew is a Co-Founder at BusinessFinanceArticles.org. Matthew was a floor manager at a local restaurant in Wales. He lost his job after the pandemic and took initiative to make a team and start the project.

Filed Under: Management

Factors That Influence Productivity

Last Updated on February 19, 2022 By Methew Harbor Leave a Comment

Are you observing decreased productivity in your workplace and worried about the long-term effects?

Don’t worry. We got you!

While some factors that influence productivity are internal, like motivation, some are external and directly related to the workplace.

Considering the productivity influencing factors, let’s tell you the factors that influence the productivity of your employees.

Influence Productivity

Workplace

You might be surprised to know, but the structure of the workplace plays a major role in the productivity of your employees. The environment you provide to the team makes a huge difference in their attitude towards their job and influences performance. It includes both the infrastructure/ design of the space and the working environment they resonate with.

When designing a workspace, it is ideal for giving enough space to each employee to work comfortably. Besides the space, other features that contribute to increase or decrease in productivity relating to the office design include

  • Choice of colors that motivate the employees and leave a positive impact. Choose shades that represent the thought and motive behind a specific space.
  • Opt for lights that are neither too bright nor dim.
  • Provide thinking spaces with motivational quotes and comfortable seating.
  • Create a relaxing area where they can play critical thinking games and get back to work after a while.

Working Environment

No employee can give their best when they are continuously worried about their boss being angry or not getting credited for their work. To make sure that you achieve high productivity, you must be a leader than a boss and encourage your team members to take the initiative and support them in their ideas.

The working environment should inculcate values like integrity and transparency, so everyone knows that their contribution is acknowledged. Create a trustworthy atmosphere where your employees feel trusted, offer feedback, and prioritize their mental health.

Goals

How will your team members help you achieve goals when they are not aware of them?

As we talked about transparency, your employees need to know short-term and long-term goals to work accordingly to give the results you are looking for. Without being aware of the goals, they work in an unknown direction and may not be able to deliver what you expect. Informing them of goals also gives you relief that everyone in the organization is working towards a shared interest.

Technology

With the tech-savvy world, it isn’t easy to compete with others in the market without being well-versed with technology. Productivity is highly dependent on tools and technology in today’s time. They help you perform well while reducing the time of processing.

Automating many processes enables you to perform a task of days in hours by using appropriate automation formulae. Using cloud-based technologies helps employees and teams communicate without having to remind each other to check their email.

Training

You may think that your employees are giving their best and have accustomed to the company’s culture and do not need any training. Yet, it is important to train your employees about their job roles regularly, imparting them the advanced knowledge and skill they need for their job roles.

You may have an utterly talented employee who continuously gives his hundred percent but does not achieve any outcomes? It happens when the employee does not know that he is putting the effort in the wrong direction. Training does not only help with enhancing the performance of your workers but also improves coordination between teams to ensure productive outcomes.

Employee Wellness

In the past, it was common for employers to keep work above everything, and employees were expected to work in deteriorating health, and no benefits were offered.

Such work culture ensured short-term high productivity, but what about the long term?

Now it’s all about creating long-term clienteles and retaining employees. The best way to achieve long-term outcomes is to prioritize your team members’ mental and physical health giving them the confidence that their job is secure in any such circumstances. Giving them a few days off to focus on their emotional or physical health can save you from losing a diligent employee.

To improve employee health, you can also introduce a healthy eating culture in the office or encourage everyone to go to the gym for at least half an hour after office timings.

Diversity

Diversity means having a blend of different cultures and backgrounds in the workplace. Diversity promotes acceptance, and your employees feel themselves to be a part of the space, putting more effort into work. Ensuring equal opportunities and representation gives confidence to your team members which you can see in their performance.

While diversity might not directly influence productivity, it can be a crucial element in team performance and job satisfaction. Engage people in healthy conversations apart from work to give them a breeze of freshness to boost their analytical and critical thinking abilities that help with productivity.

Leadership

Leadership is one of the most important factors affecting productivity in a workplace. The leader must be an example of honesty and diligence to their employees, and they should look up to them for advice when needed. A leader’s personality should be influential and unbiased. Leaders should encourage people who work hard and guide others to perform well.

Accepting Feedback

As customer relationships are made through accepting feedback, so are with employees. If your employees or team members are not comfortable sharing the lacking in the business with you, they cannot achieve the goals you are looking forward to.

The way you handle that feedback is one of the crucial factors that influence productivity. When you brush the feedback under the carpet and do not heed what your employees have to say, the issue will not be addressed and continue to prevail.

The Bottom Line

Productivity is not related to anyone’s particular cause as many factors influence productivity. From creating a trustful, transparent environment to providing tech-savvy tools and offering work breaks for physical and mental health, everything contributes to productivity. You can improve productivity by allowing them to take care of themselves and give feedback without being judged or mistrusted. It adds to a diverse company culture that believes in team benefit instead of personal benefit.

matt harbour
Methew Harbor

Matthew is a Co-Founder at BusinessFinanceArticles.org. Matthew was a floor manager at a local restaurant in Wales. He lost his job after the pandemic and took initiative to make a team and start the project.

Filed Under: Business, Management

18 Advantages And Disadvantages Of E-Commerce

Last Updated on February 18, 2022 By Methew Harbor Leave a Comment

E-commerce is a major contributor to sales globally, with 93.5% of internet users having made at least one purchase through the internet. E-commerce is growing at a rate of 23% per year, and it is expected that it will be a significant sales platform by the year 2040, with 95% of purchases being made online.

What is e Commerce?

E-commerce refers to making business online without interacting with the buyers physically. It is a modern approach to business, and more brands are moving towards e-commerce to boost their sales. E-commerce involves online selling and payments through online payment gateways. While it provides a space for people to sell their products without having a physical store to display their goods, there are also some disadvantages.

Advantages and Disadvantages of eCommerce

shopping-online-drop-shipping
AdvantagesDisadvantages
Available 24/4Lack of direct interaction
Larger marketNo tactility
Lesser costMore competition
Convenient buyingNo guarantee of quality
More choicesLong delivery time
Detailed product informationInternet access needed
No need to go outWebsite crashing
Affordable marketingBad reviews cause losses
Access to customer data 
Better sales through reviews 

Advantages of eCommerce

Available 24/7

Can customers go to their favorite apparel store at 5 in the morning and get the jacket they need for a trip urgently? No.

But can they order? Yes.

When you set up an e-commerce store, you are 24/7 open and available to your customers without any time restriction. They can place an order any time of the day, and you can dispatch their goods at the soonest to engage the customer and convince them to buy from you often.

Larger Market

The world has become a global village, and e-commerce is the best product of this global village. Websites are worldwide, and you can reach potential customers across oceans if you want to. Even a high school student can do it too. E-commerce gives you access to people globally to expand your business by catering to a large number of people.

Lesser Cost

E-commerce stores are a one-time cost and do not require continuous maintenance. While you may need 4 employees to run a physical store, e-commerce stores do not require the same workforce. Online selling also saves the cost of electricity and other forms of maintenance in the store, eventually decreasing your monthly expenditure. E-commerce stores are more automated, avoiding human error and reducing the need for many staff members.

Convenient Buying

Online sales have rocketed in the past years. Do you know why?

E-commerce allows people to buy at the comfort of their homes without going out. Everything they need is readily available on the internet, and they can buy quickly, just with a single click. Many e-commerce stores also provide the option of replacements where they pick the purchased good from your home. E-commerce is every busy shopper’s dream come true.

More Choices

Anyone might not have enough time to visit one store to another, you can always scroll through multiple stores online. The presence of hundreds of options online gives you more choices to select from, offering a wide range of colors, designs, sizes, and material quality. With so many options, you are more likely to easily find what you want.

Detailed Product Information

Another benefit of e-commerce is the information mentioned with each product for ease. Customers do not have to ask the seller about the features of the product as the product description and details give it all out themselves. You can find all information about a product on the e-commerce store or search engines to make the right choice of purchase.

No Need to Go Out

Online buying has made accessibility easy than ever before. If you do not have enough time to go out and buy the pack of cheese for dinner, order it right away, and it will be at your doorstep in a few minutes. While sometimes you have to pay a minimal delivery fee, e-commerce does not only save time but also cuts down fuel costs.

Affordable Marketing

We won’t say that billboards and TV advertisements are gone, but the era of digital marketing has definitely taken over. Now, most businesses are looking forward to digital marketing and making the best use of social media platforms to market their products to a wider audience. Digital marketing costs less than traditional marketing, and your product reaches a global market.

Access to Customer Data

Online selling gives you access to customer data and enables you to design your store according to customer needs. You can add products that your customers usually look for and cater to the needs of potential customers in a better way. By targeting the right customers with the products they need, you can make them choose you more often.

Better Sales through reviews

Reviews on the internet are just like words of mouth but reach more people. Reviews and testimonials are one of the most effective ways to enhance sales through e-commerce. Reviews on the website by your satisfied customers help new buyers make a decision about the product, and you sell more.

Disadvantages of eCommerce

Lack of Direct Interaction

One of the major drawbacks of e-commerce is the lack of direct interaction. Interactivity and body language are two vital components of communication, and they both are lost during online dealing. This loss of interaction during selling products online sometimes makes the customers move to retail shopping to understand the product better.

No Tactility

Besides not being able to communicate face-to-face with the sellers, the customer also misses the experience of touching and trying the product before buying. Many customers want to try a particular product such as shoes, clothes, spectacles, and others to make sure they are the right fit, but this is not possible in online shopping.

More Competition

E-commerce allows everyone to create a website and have their online store, increasing the competition among sellers. Buyers visit multiple stores within minutes and choose the one with better quality and lower price. High competition makes business difficult on e-commerce platforms as customers tend to choose products that cost less, and store-owners have to keep prices competitive.

No Guarantee of Quality

Talking of buying something online, there is no 100% guarantee of the product’s quality when it reaches you. It may be the same product as mentioned, but the rate could be worse than you imagined. When setting up an e-commerce store, it is important to ensure that your quality is unparalleled to keep customers loyal to your brand.

Long Delivery Time

Ordering and receiving goods is incredibly easy with online shopping, but not that quick. It usually takes 2 to 3 business days for the purchases to deliver and more if you are ordering from a distant place. Sometimes people avoid shopping online if the store does not offer urgent delivery if needed and prefer to go and buy from a retail store.

Internet access Needed

E-commerce is highly dependent on the availability of the internet as you cannot buy anything online in the absence of an active internet connection. Internet access is a must for online shopping to add an item to your cart and make payment through the card. Some website functionalities need a high-speed internet connection and may not be accessible to buyers with slow internet.

Website Crashing

While the need for the internet is inevitable when going for e-commerce, it may have a few other problems. Having an e-commerce store always comes with the possibility of your website crashing or having a glitch that may push your customer to move to another site.

Bad reviews cause Huge Losses

Let’s say you have a bad day and deliver a wrong product to a customer, and they leave a bad review. You may try to fix it, but sometimes buyers are very critical about service and do not hesitate to leave a bad review right away.

Reviews are as risky as beneficial they are for e-commerce. Good reviews can help you get more customers and direct them to your website; bad reviews can stop potential customers from buying from you.

Frauds

Online shopping comes with numerous security issues and has higher chances of fraud. As people usually pay for purchases through their credit or debit cards, there’s always a risk of stealing information leading to money fraud. If any such scam happens after shopping through your site, the customer usually leaves a bad review, and the word spreads like wildfire. Ensure a safe shopping experience for your customers by providing security and cashback when needed.

The Bottom Line

E-commerce is growing massively, hundreds of females started the business with low investment in recent years at there are a wide market and hundreds of product options to sell and the dimensions of shopping are changing. Now more people are moving towards online shopping as it offers numerous advantages like having more options, getting all information about the product, and the possibility of ordering from an online store any time of the day.

Besides the advantages, some disadvantages also come along, like lengthy delivery time and uncertainty about the quality of the product. Despite the disadvantages, e-commerce is expected to expand more with most purchases and transactions made online. If you are looking to set up online, give it a try with any of these profit generating ideas.

matt harbour
Methew Harbor

Matthew is a Co-Founder at BusinessFinanceArticles.org. Matthew was a floor manager at a local restaurant in Wales. He lost his job after the pandemic and took initiative to make a team and start the project.

Filed Under: Commerce

Understanding Motherhood Could Improve Business Climate

Last Updated on February 5, 2022 By Methew Harbor Leave a Comment

Motherhood calls upon a woman to take the responsibility of raising a child and this concurrently changes the way in which she is perceived in society and at her workplace. Juggling a career and children at the same time is one of the most difficult balancing acts a woman will ever perform. Creating a positive business environment where these women can be successful therefore is a challenging duty. Many HR managers have opted for this master called Maam that helps to work in this field and is an answer to many of the challenges working mothers face.

Maam is a life-based program that delivers training in an engaging and rewarding format. It is based on scientific research that seeks to develop a unique training method that revolutionizes companies’ learning.

The business climate of any organization not only determines how comfortable the working mothers are but also helps employers to gauge their satisfaction, leadership, and enjoyment of work. Much of the stress mothers face is because there simply are not enough hours in the day to devote to working and having “a life” when they really don’t have one outside of work often by necessity rather than by choice.

Creating a positive business climate for these working mothers could do wonders in improving the business climate and here are a few reasons why;

Motherhood Increases Emotional Intelligence And Productivity

Today’s woman is under close scrutiny of societal biases relating to career and having children. Although they have the right to choose if they want to have children, many don’t face backlash from either their families or friends. As if that is not bad enough, society once again makes it worse with the classification of good mothers versus bad mothers.

Bad mothers go to work and leave others to take care of their families. This feeds directly into the guilt many working mothers feel about holding a job. Nevertheless, the key is fostering a positive and vibrant business environment where the women feel that they can balance careers and families. Motherhood increases emotional intelligence giving mothers new ways to engage with colleagues and clients.

Motherhood Inspires Creativity

Becoming a mother is one of life’s most common transitions. However, many businesses still believe motherhood interrupts career opportunities because absent mothers miss opportunities to learn and grow. This master called Maam shows that mothers gain new energies and skills when they become parents and the same skills and energies that make a business successful.

Business Woman

When a working mother is comfortable in the work environment, she knows that good ideas will be shared appropriately and that the credit will be given where it is due. This makes them feel more invested in the tasks when they know their input is accepted and welcomed no matter what position they hold.

This feeling can lead to many great things one being the feeling of pride. If mothers begin to feel prideful about their work, they will do what it takes to go above and beyond your expectations. Moreover, being proud of what you do, makes you want to stay.

Motherhood Promotes Collaboration

Working mothers spend so much of their life at work and in a way, their colleagues become like family members. This bond allows mothers not to feel more at home and the urge of missing their children reduces and they can concentrate on the given work. They are able to treat their colleagues with empathy and understanding as they would their children.

This type of culture allows for better social connections, collaboration, and encouragement among team members leading to cohesion and growth of the business as a whole. Working mothers should be trained that quality is more important than quantity. In fact, the guilt and stress working women experience overworking are likely to have more negative effects on them and their children than working itself.

Motherhood Fosters Healthy Living

The work environment has a significant impact on a working mother’s health and well-being. Poor management of workplace health can lead to work-related ill health and to high levels of sickness and absence. A positive and healthy workplace encourages work-life balance for these mothers.

Having a positive and uplifting work culture will help increase the morale to work resulting in business success. Committing resources to see that working mothers’ needs are met can benefit both employers. Employers that look after the welfare of their working mothers depict a more positive public image to society.

matt harbour
Methew Harbor

Matthew is a Co-Founder at BusinessFinanceArticles.org. Matthew was a floor manager at a local restaurant in Wales. He lost his job after the pandemic and took initiative to make a team and start the project.

Filed Under: Business, Management

How Can a Mom Blog Help You Earn and Learn?

Last Updated on February 4, 2022 By Methew Harbor Leave a Comment

There is no denying the fact that parenting has a far-reaching effect on the growth of a child and decides the values that are passed to the next generation. However, it surely isn’t easy to nurture your children in a way that they can help society and the nation. With the growing technology, lives have become connected as we have a number of social media websites and whatnot. The Internet has become an integral part of our lives and mothers from all over the world are coming online on various mom social networking sites.

These websites and blogs are not only helpful in parenting but can also let you earn a decent amount of money. So, without any further ado, let’s understand how mother blogs and networks can be big hits for you.

A Mom Blog lets you Showcase your Parenting Ability

There are a number of questions regarding parenting that make their way to the internet on a daily basis. A blog lets you use your parenting skills to answer at least some of these questions in an interesting manner. Understanding what you are best at is very important before you start publishing on your blog.

Try to focus on the quality of the content and the readability of the blogs you publish. If your posts generate a healthy amount of traffic, brands and sponsors can reach out to you. However, keep in mind that posting too much promotional can affect the credibility of your website.

Sharing Cooking and Household Tips Become Easy with a Mom Network or Blog

A cooking blog can be a nice way of engaging the audience and sharing your recipes. When your blog starts gaining visitors, you can include a subscription option so that they can be informed every time you post something. If you’re going for cooking tips and recipes, you should include a bunch of pictures so that the reader doesn’t get bored while reading your blog. Apart from this, any user would be less likely to make a cooking mistake if your blog post has proper image illustrations and real-time clicks of the recipe.

Gone are the days when women had to compromise with their work-life once they had a baby. Now moms have created successful YouTube channels, highly subscribed kitchen blogs, travel blogs, and whatnot. The best thing is that you can update your blog whenever you want and can take a break if you are too caught up. At the same time, you can keep your posts consistent and focus on improving the content as people start to notice your work. It is crucial to understand what your readers find the most interesting so that you can create a niche.

These Websites can be Easily Monetized

Earn Money from blog

Once your subscription count attains a decent number, you can either start putting ads on your web pages or can go for a paid membership. By keeping a fixed price according to the additional services you are going to provide, you can include a couple of plans that one can choose for a premium experience. This will, however, increase the responsibility of providing the content that justifies the money paid by your premium subscribers. Putting ads can sometimes take a hit on the credibility of your website so you should be careful while preparing q the layout of the ads to be put on your web pages.

Mom networks have grown into full-fledged business websites catering to the needs of thousands of online users. You can easily find a number of websites that can create the website for you so that quality content is all you need to focus on.

matt harbour
Methew Harbor

Matthew is a Co-Founder at BusinessFinanceArticles.org. Matthew was a floor manager at a local restaurant in Wales. He lost his job after the pandemic and took initiative to make a team and start the project.

Filed Under: Business, Career

9 Tips to Become a Happy ‘Work At Home’ Freelancer

Last Updated on February 4, 2022 By Methew Harbor 1 Comment

Do you work at home and you just don’t know how to organize your day? Do you love working in pajamas and getting up at whatever time you want, eating whenever you are hungry, and staying awake with the help of coffee or caffeine pills?

We don’t know a lot about the effects of working at home because the work model “home office” has only become slightly more popular in the last few years. For decades, the individuals working in an office among us have gotten up between 6 and 7, started work between 8 and 9, and finished their day between 4 and 5. We have breakfast at home, lunch at the office, and dinner at home with our families. What happens if all of a sudden we are obliged to work from home and provide buy research papers online? Great, most of us think, my dream has become reality; this is what I always wanted.

But be careful, what seems like paradise might soon turn into a nightmare. Suddenly you don’t have to set your alarm clock anymore, you determine your working hours and it feels like you have all day to start working.

Dress Appropriately

Get out of your pajamas and dress appropriately, just as if you were to leave to go to the office. The first couple of days or even weeks it might be a great feeling wearing your PJs or a sweatsuit while working but you are setting yourself a trap. Pretty soon you will forget to brush your hair, stop wearing makeup or forget to shave and just run around in the same clothing day and night. It sounds absurd but it will happen if you don’t control your habits.

Set Yourself Fixed Working Hours

Don’t start working at a different time every day. You can make exceptions but these kinds of exceptions should not become the rule. You will lose your rhythm and be more stressed than before. Why more stressed? Well, think about it this way. Our body gets used to getting up at a certain time so if you get up at 9 am on one day and at 2 pm on the other day, your body will become confused.

Apart from that, our body will neither be able to produce sufficient amounts of serotonin, a neurotransmitter that is stimulated by outdoor light and is significantly responsible for our health and well-being nor will it be capable of synthesizing enough melatonin, a hormone that is produced at night through which you become inactive and tired. These two hormones have a great influence on our mood and energy levels and if their production and hence our day-night cycle is disrupted or changed frequently, the risk for feeling depressive symptoms rises.

Don’t Forget Your Social Life

When you work at home, you will be communicating non-stop by email, through social networks, via Skype, or other instant-messaging tools. Don’t forget to pick up the phone to talk to your friends and colleagues. It can become unbearable if you don’t hear a human voice all day long and the beeping noises of your instant messaging tools will soon haunt you in your sleep.

Spend Time Outside

Spend at least 30 minutes outside in daylight. Don’t lock yourself inside and make your computer become your best friend. The world is happening outside and sunlight should be your best friend. Sunlight stimulates the production of serotonin and thus leads to happiness. 2 hours a day is the dosage required for your body to produce sufficient amounts of serotonin to get you through the winter. In the winter, when there is a lack of sunlight, your body produces less serotonin which is why many people feel depressive symptoms in the winter. So don’t forget to spend some quality time outside.

Avoid Artificial Light at Night

Home office

Try to avoid using your computer at night. The artificial light will hinder your body’s production of melatonin and will disrupt your sleeping and waking cycle. According to scientific studies, using artificial light at night, such as by watching television, writing narrative essays, and using the computer can lead to depression, and all of that is because you are confusing your sleeping hormone. If you are receiving work late at night and if you are not pushed by a strict deadline, leave your job until the next day. You will feel energized by new serotonin being produced, triggered by sunlight, and you will be more concentrated, deliver better results and work more efficiently.

Remain Physically Active

Don’t forget to remain physically active. Physical activities will have several benefits for freelancers. As freelancers, we are often condemned to sitting in front of our screens all day long. This makes it more difficult to manage our weight and our health. It also reduces the risks of high blood pressure by boosting high-density lipoprotein and decreasing unhealthy triglycerides. Your blood is able to move more smoothly and the risk of cardiovascular diseases can be lowered. And here we come across serotonin again. There is a connection between serotonin and physical activities. For one thing, exercise increases the rate and frequency at which serotonin is synthesized and produced. Secondly, the level of tryptophan which is an amino acid that produces serotonin is increased. Practice your favorite outdoor sports or just put on your rollerblades and skate around a bit while you recharge your batteries and stock up on serotonin.

Watch Your Nutrition

Eat healthy, regularly, and at fixed times during the day. Most of all, pay attention to the kinds of foods you eat. There are certain kinds of foods that trigger the production of serotonin such as foods high in B-vitamins (eggs, brown rice, chicken, corn, green leaves, legumes, peas, sunflower seeds, and nuts), calcium (green leaves, almonds, and cruciferous vegetables, fish with bones, tofu, and sesame seeds), magnesium (green leaves, brown rice, sesame seeds, shrimp, salmon) and tryptophan (turkey, peanuts, soy foods, almonds). The Omega 3’s are fatty acids necessary for serotonin production. These can be found in fish oils such as mackerel, salmon, sardine, and tuna. Omega 6’s is equally important. These are contained in chicken, eggs, sunflower oil, and turkey.

Reduce Your Stress

Reduce your stress. There may be different stimulators. If you experience stress on a long-term basis, your serotonin levels will be depleted and you will find yourself with a lack of the “happiness”-hormone. Stress on a short-term basis actually increases serotonin but if this happens too much, you risk experiencing burn-out syndrome and it will be extremely difficult for your body to produce sufficient serotonin levels. Try to listen to relaxing music. It will soothe your mind, calm your nerves and take your mind off of troubling thoughts.

When your mind starts relaxing, this relaxation will go over to other parts of the body. It was found that a continuous rhythm of 60 BPM has a relaxing effect on your body as your heart rate will harmonize with the music’s rhythm.

Avoid Stimulants

Don’t take stimulants because they reduce your serotonin levels significantly. Avoid coffee or pills containing caffeine, refined carbohydrates, chocolate with a high quantity of sugar (dark chocolate was discovered to have positive effects on your heart), alcohol, drugs cigarettes, or any other form of tobacco.

Try following this advice and you will see your serotonin levels soaring up. Your mood will change for the better and you will have energy in ways never seen before. Teach your co-workers and supervisors the importance of organizing their day working from home and the magic of serotonin and they will soon become much more pleasant to work with too.

matt harbour
Methew Harbor

Matthew is a Co-Founder at BusinessFinanceArticles.org. Matthew was a floor manager at a local restaurant in Wales. He lost his job after the pandemic and took initiative to make a team and start the project.

Filed Under: Career

Things to Check Before Buying a Project Management Software

Last Updated on January 14, 2022 By Methew Harbor Leave a Comment

If you already have a firm, project management software is a necessity. It assists you at every aspect of project management, from assigning tasks to setting deadlines.

There is no substitute for project management software if you want to get your project up and running quickly and efficiently.

Before finalizing your purchase or update of project management software, you must complete a checklist. It doesn’t matter what kind of project manager you are, and a checklist is essential.

You won’t have to worry about missing out on any features if you’ve prepared a checklist for acquiring project management software.

To get you started, we’ve put together a checklist for you.

Using Project Management Software: A Checklist

First, I’d want to tell everyone how well project management software may benefit you in various ways. The following sections go through some of the most important concepts to aid comprehension.

An Easy Way to Collaborate with your Team

How to Choose the Right TalentLMS to Build Strong Team

To get the best results from a significant project, it’s critical to have open lines of communication with everyone involved. The team’s work is made more accessible and more efficient with a project management tool. You may connect with the relevant team members on the right project using this tool.

Disbursement of Responsibilities

You’ll be able to distribute all of your team’s work after you install this program. Each member can be assigned a specific duty. You must review the tasks list if you’re unsure what your responsibilities are and when they are due. As a result, you’re able to clearly show which stages come after another and which ones are interdependent.

Proper Forethought

In the absence of appropriate preparation, nothing can be accomplished. As you are well aware, there is a lot of time involved in the project planning process. Using project management software, you can quickly create a hierarchy of activities that can be completed rapidly and effectively.

Tracking of Projects

The capacity to keep track of a project with project management software is another incentive to use it. Tracking a project’s development is quite beneficial. Using the tool, you may get information on your team members’ work schedules. Team leaders can use this information to better plan their schedules in the future. In turn, this improves output and speeds up the process.

Sharing of Files Through the Internet

Using project management software, team members may access all relevant files and papers in a single location. You may lessen your reliance on each other this way. No one has to go through tens of thousands of emails to get the information they need to finish their projects.

A Project Management Software Buying Checklist Is Essential

I’m sure most of us have had the experience of arriving home from a shopping trip only to discover that we didn’t buy anything because we forgot to write down our shopping list. Please don’t make the same mistake again when purchasing project management software.

You must have a checklist before purchasing a project management solution. The following topics should be included in your list:

Efficacy

First and foremost, you should focus on ease of use. The software you buy should be simple to use. Some well-known programs are challenging to use and need extensive training for new users. It would be best to stay away from these tools because you can’t possibly teach each person in your team individually.

The most acceptable product for you and your staff will be simple to use, which works well for both of you. Free trials are available for many of the products out there, so you may test them out before deciding whether or not to buy them.

Capability to Plan a Project

Allowing its customers to plan out their projects, project management software properly is the program’s primary function. Starting a project from scratch is essential to becoming a successful project manager. Do certain specialized activities like, for example, with the tool you choose.

  • A date when a project is scheduled to begin.
  • Deadline.
  • The project’s estimated completion time.
  • Members of the project’s team
  • It’s all about the labels.
  • Priority.
  • As long as you’ve carefully thought through the logistics, you should be able to complete your project on schedule and budget.

The ability to track time

To be a project manager, you should be aware of the present status of every operating project. A project management software’s time tracking or progress monitoring tools might be quite helpful in this case. Project managers may use the time tracking function to keep track of contracts, work schedules, and chargeable hours invested on projects.

You’ll be capable of pulling data from multiple aspects of the project software solutions using real-time reporting options. Then you may use it right away to produce reports on the present state of the project. It’s a great way to keep tabs on developing your coworkers’ projects.

Efforts to organise your tasks

Subtasking is the most efficient way to perform a task. It provides a psychological lift to the team while reducing the overall stress level. Choose a program that lets you.

  • Create task dependencies and attach them to work at hand.
  • Subtasks can be created and managed from more significant projects.
  • It is possible to schedule a job to repeat itself or repeat at a predetermined date and time.
  • Assign multiple people to a single job.
  • An external task list will be imported.

Potential for Time Savings

Time Management in Project Management

Choose project management software that may help you save a lot of time. Repetitive tasks are one of the most hated things in the world. It won’t be easy to meet the deadline if this is repeated. However, some jobs necessitate repetition, such as creating a project at the beginning of every month or every week.

You must look before buying project management software that features like repeating tasks might come in handy in this circumstance. Using this function, you won’t have to remember to do it at the beginning of each month. Some project management software does not have this capability. Choose wisely.

Pricing

When making a purchase, price is an important “X-factor.” As a startup or small-sized firm, you’d expect to save cash on your software because you’re operating on a tight budget. The price of a tool typically rises in direct proportion to the number of features. You can’t assume that any of these qualities will suit your company.

What you need is project management software that meets all of your specifications. To begin with, make sure you know how much money you’re willing to spend on the instrument you need.

Final Words

Now that you’ve learned about the necessity of project management software and the checklist for buying it, you’re ready to get started.

Project management software is a must-have for every business owner or project manager who wants their projects completed on time and within budget. Make sure you follow our advice and have a checklist ready before buying it.

matt harbour
Methew Harbor

Matthew is a Co-Founder at BusinessFinanceArticles.org. Matthew was a floor manager at a local restaurant in Wales. He lost his job after the pandemic and took initiative to make a team and start the project.

Filed Under: Management, Technology

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