• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Business
  • Commerce
  • Management
  • Insurance
  • Banking Finance
  • Marketing & Advertising
  • Tech

Business Finance Articles

Your First Financial Choice....

  • Education
  • Career
  • Investment & Money
  • Accounting & Taxation
  • Transportation & Logistics
  • Industries

Management

Here’s How Businesses in Montreal can Handle Their Electronics Recycling

Last Updated on May 27, 2023 By Shayna Waltower Leave a Comment

Computers, phones, and older electronics may sometimes end up in landfills but they can actually be recycled. Disposing of non-working printers and other tech products may be common, but the good news is that there are recycling centers in Montreal that can help you get rid of your devices in an eco-friendly way.

Planned obsolescence is the term that describes the life cycle of electronics. They have expiration dates, and sooner than later, they will have to join the large pile of e-waste that’s currently at the bottom of the ocean or in mountainous landfills.

It’s impossible to calculate the number of gadgets that are currently sitting on wastelands. However, one thing is for sure: they are going to primarily contribute to the climate change that many are experiencing globally. Toxic plastics and metals can seep into the ocean and can be harmful to aquatic life. It’s also the same with the soil, where they can be absorbed by crops and other plants that many consume.

One of the best solutions out there is recycling, and while this is not the perfect answer, this is the best one available out there. Many businesses, can effectively handle their e-waste with the help of an electronics recycling Montreal company that handles stereo systems, fax machines, mixed batteries, and ink cartridges that they may have. Below is a rundown of what the entire process means.

What do you mean by Recycling?

To put it simply, the process of sorting, collecting, and reusing older appliances and devices is called recycling. Their parts may still be salvageable, and consumers can protect the water, soil, and air from the chemical fumes that may leach into them when they go into the right centers in Montreal. Some of the components that are being reused are the following:

Plastic: Acrylonitrile Butadiene Styrene is a great choice for electronic enclosures while thermoplastics like polycarbonate are stable and transparent. Polyphenylene Ether will also enhance thermal properties, and they are needed on transformers since they can resist most chemicals and don’t easily corrode or melt. Various companies can still use them again in the form of equipment holders, fence posts, etc.

Metal: Silver is one of the best choices out there because it’s cheaper and highly conductive. However, it can tarnish over time so gold may be an alternative in flash drives, computers, phones, and tablets. Copper and platinum are also being used, and this is why there’s a need to find a specialist in Montreal that can handle and de-construct all of them to save precious metals.

Glass: Panels for televisions, devices, and computers can be made of flexible glass. Cathode ray tubes commonly hold them, but they contain other hazardous substances like lead that can be dangerous to one’s health. Experts from recycling plants will be able to remove the non-ferrous components from the CRT pieces and sort them to create a brand-new screen. See more about the tubes on this site here.

Mercury: Televisions that were manufactured before 1991 have mercury on them, and they are also crucial in monitors and LCD screens. This is why it’s very important to dispose of them properly at the collection centers to significantly decrease hazards in households.

What’s the Process?

Re-Use Process

Collection of Various Devices

Businesses need to collect all of the batteries, circuit boards, CD players, telephones, heaters, ACs, microwaves, or calculators that they don’t use. This is not an all-inclusive list but everything from desktop computers to ink cartridges should be recycled. 

Technologies are now used in schools, hospitals, agencies, and manufacturing plants, so it’s best to start a campaign to gather them and get everyone onboard.

Transportation

Take them to an accredited recycler in Montreal and ensure that these facilities are wiping out private data from hard drives, USBs, and computers. Legitimate ones are more committed to the protocols in their county, and you may even find the best ones that offer transportation services so that it will be more convenient. Read more about data erasures at this link: https://www.lifewire.com/how-to-wipe-a-hard-drive-2624527. 

Shredding

After the receipt of the devices, they are sorted, categorized, and shredded. The latter may be done manually, where each component and part are taken apart in a meticulous manner and examined. There’s also the sorting process where the glass and cathode ray tubes are removed before they are sent down further into the process.

Shayna Waltower
Shayna Waltower

Filed Under: Management

What are the Three Sets of Factors that Influence the Standards of Behavior in an Organization?

Last Updated on May 24, 2023 By Methew Harbor Leave a Comment

The professional environment in a company is a product of the conduct rules and a person’s behavior. Individual and organizational behavior of employees in an organization contributes significantly to working efficiency. A trustful, respectful, and socially connected workplace improves the functioning of departments.

Individual, opportunity and social factors are the three sets of factors that influence the standards of behavior in an organization.

Let us tell you about these three factors influencing the standards of behavior in an organization.

Individual

An individual is the most critical component of an organization. The behavior in an organization cannot be improved when the individual lacks the primary traits for better behavior.

Personality

One of the most primary aspects of an individual in an organization is their personality. Their personality plays a significant role in their contribution to the company. Is your employee open to constructive criticism? Are they team players? Do they communicate well? These all matter a lot in organizational behavior.

Values

Values affect an individual’s ethical behavior and judgment regarding a specific matter. They may be crucial, especially when you are building a team. It helps you understand people with similar values as you will be a better part of your team. A person who lacks values may resort to unethical ways of business and harm his name.

Morals

Morals refer to the set of rules people set for themselves and the people around them. Morals depend on a person’s cultural norms and values. Morals affect a person’s behavior (good or bad). A person with good morals tells the truth, does not cheat, does not judge, and is dependable. Employees with bad moral values will decrease the standards of behavior in an organization.

Opportunity

Besides an employee’s conduct, the opportunities they get in a company are highly important. Sometimes the best employees might not perform their best because they are not given the right opportunities. Offering a chance to your team member does not only mean allotting them a project. It also involves how you allow them to present a suggestion that complies with ethics and morals. If the employees are permitted to make ethical decisions, it helps improve the standards of organizational behavior.

Social

The behavior of a company and its employees must be social. It is important to be a social organization to grow in business. Social employees also bring more people to your company by building relationships. Many customers think that companies need to think socially also in terms of providing products to a wide range of customers. Teammates that think from a social perspective contribute to improved company behavior standards.

smartphone open the social media app

The Bottom Line

An organization’s standards of behavior depend on the individual, opportunity, and social factors. They include morals, ethics, values, personal conduct, opportunities, environment, conflict, etc. Incorporating high morals and values in the company can elevate the standards of behavior. On the other hand, ignoring these factors can negatively influence the standards of behavior in an organization.

FAQs

What are the Three Core Ethical Values?

According to research, the three core ethical values include justice, goodwill, and respect for persons. The relationship between individuals in a company is usually based on their ethical values.

What are the Factors that Influence a Person’s Moral Behavior?

Culture, family, and peers significantly influence a person’s morals. These interpersonal factors are the base of a person’s personality and moral development.

What Factors Influence Unethical Behavior?

While many factors contribute to a better workplace environment and high behavioral standards in the company, some lead to unethical behavior. Common factors include a lack of a code of ethics, lacking values, and setting a bad example for the team.

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

Advantages and Disadvantages of Coercive Leadership

Last Updated on May 24, 2023 By Methew Harbor Leave a Comment

Coercive leadership might not be the most preferred choice for modern leadership structures. Yet, it is often essential for an organization. It ensures that all the employees work according to the commands with no innovation.

The advantages and disadvantages of coercive leadership go hand in hand. Coercive leaders are rigid in their rules and instructions and expect everyone in the company to abide by them. This kind of leadership style helps build decorum within the organization. Moreover, it requires micromanagement and leaves no room for diversity. Read the article to know everything about coercive leadership.

What is Coercive Leadership

Coercive leadership is an authoritarian style of leadership. It is built on providing instructions to the employees about each process. It includes all information like what to do, how to do it, protective measures, regulatory compliance, etc. Coercive leadership pushes the employees to stick to the given guidelines without any changes.

Coercive leaders are strict in their conduct. They do not allow room for mistakes or modification. This leadership style is usually adapted in manufacturing facilities, especially pharmaceuticals, chemical plants, and food industries. Negligence from the workers can be life-threatening to the consumers. Small businesses that need proper functioning may also opt for coercive leadership.

The role of a coercive leader is not restricted to commanding the employees only. They work hard to find out problems and think of suitable solutions. Such leaders are responsible for making decisions for the whole department or company. Coercive leaders have complete control over the processes. They utilize authoritarian and dictating approaches to get work done correctly.

Advantages of Coercive Leadership

Increased Productivity

Increased productivity is one of the most fundamental benefits of authoritarian leadership styles like Coercive. When the employees comply with the instructions provided by the company, they do not waste their time innovating products. They stick to the process methods passed down from their leaders. The team understands the managers’ expectations well and works to come up with the expectations. It also eliminates the need to wait for multiple leaders to continue working.

Better Control

The coercive leadership style offers better control over the workers by setting boundaries. It allows the leaders to train and coach the employees per the system’s needs. The employees are aware that they must come up to the expectations of the managers. They are responsible for their actions and must act according to the provided layout.

Easy Management

When companies implement coercive leadership in a company, le chances of deviation are less. It reduces the culture of working casually or bending the rules by the employees. Strict enforcement of coercive leadership ensures each person performs the assigned task. Coercive leaders do not alter the rules for anyone. The managers do not need to supervise the employees once they understand the system directly.

Improved Compliance

Coercive leaders understand the related rules and regulations deeply to ensure the proper functioning of the organization. They can better implement these regulations through strict actions than soft leadership methods. It also ensures better compliance with company policies like harassment and attendance.

Motivates Employees

This leadership style is most suited for organizations where employees have a laid-back or free-style working approach. It might provide comfort to the workers. Yet, sometimes it may damage the company in the long run. The coercive style motivates and pushes employees to achieve their assigned goals efficiently. It improves productivity and enables the employees to contribute better to the company’s success.

Better Workplace Safety

Proper implementation of safety rules and measures within the company ensures better safety. The employees must adhere to the rules to avoid accidents during different processes. Sticking to safety precautions keeps the employees safe and other coworkers.

man and woman look in laptop

Better Judgement

While all leaders choose the best for their organization, coercive leaders are better at it. They assess each employee’s performance within the given role. If the worker is not fit for that particular place, the manager may shift them to another department or role. Coercive leaders can also include or exclude policies that do not go well with their leadership system.

Disadvantages of Coercive Leadership

No Room for Diversity

Many emerging leadership styles appreciate the diversity of opinions. But coercive leadership is not one of them. Coercive leaders do not ask for opinions or suggestions from their team. They believe in a top-down hierarchy and give instructions only. The workers have to work according to the guidelines whether they like it or not.

No Room for Innovation

Just like the lack of diversity, these leaders do not appreciate innovation as well. Workers might think of performing a task smartly to wind it up early. Nevertheless, coercive leaders would not like this freedom of innovation. They improve workplace safety by ensuring compliance with regulations. Therefore there is no space for innovation in this leadership style.

Leaders Need to be Vigilant

Coercive leadership does not require keeping a close eye on their employees all the time. Yet, your workers must know that you are monitoring them closely. If any employee gets away with misconduct regarding any process, they will feel free to do it again. Coercive leaders need to be vigilant while managing a huge team to avoid problems in the workplace.

Short-Term Productivity

As we mentioned, this style of leadership improves productivity. However, productivity is long-term. People often get tired of working under a strict boss performing the same tasks every day. The boost in productivity is short-lived under coercive leadership. Continuously working under pressure will eventually diminish the employee’s motivation and reduce productivity.

Dislike of the Leader

Today, nobody wants to work in a slave-master system. People look for workplaces that offer diversity and innovation. When the workers do not feel comfortable talking to the leaders, they keep a safe distance from them. Employees understand that the manager is in power and they have to work according to his style to stay in the office.

Increased Employee Turnover Rate

Unsatisfied and demotivated employees work in such an atmosphere only for a short period. They do not want to stick around with cruel bosses for a long time and find an escape. More workers tend to leave the company and move to another better workplace. It increases the burden on other workers timely and increases the company’s cost of recruitment.

Characteristics of Coercive Leadership

We have discussed the advantages and disadvantages of coercive leadership. But, do you know what comprises coercive leadership? Here’s a brief description of the characteristics of coercive leadership.

Top-Down System

Coercive leadership is an authoritative leadership style with top-down communication. The top hierarchy (managers) only communicates the guidelines to the down (workers) hierarchy. It is not two-way, as workers do not give any input. This system eliminates creativity from the organization, and everyone works on the instructed pattern.

Rigid Rules

This leadership style not only shuns innovation at the team level but also at the managerial level. Mostly the leaders work on the same rules and regulations as before. They might introduce or eliminate new policies for the benefit of the company. However, it is quite less likely to happen, and the company follows a rigid set of rules throughout.

Rewards

Employees who understand and follow the instructions of their leaders are rewarded according to their performance. The reward criteria are also strict in this leadership style. Any mistake or change in the working procedures can reduce the chances of rewards.

The Bottom Line

Coercive leadership is autocratic leadership, where the manager orders the employees. A similar number of advantages and disadvantages of coercive leadership makes it difficult to decide. It improves productivity and reduces hazards in the organization. However, it also results in job dissatisfaction and demotivates employees in the long run. The dissatisfied workers often look for better places to work, resulting in a high turnover rate.

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

How to Deal with Passive-Aggressive Coworkers

Last Updated on May 12, 2023 By Methew Harbor Leave a Comment

Working in a company requires interaction with people in your department and others. Most employees prefer a friendly relationship with their coworkers. Yet, sometimes you come across a passive-aggressive teammate who makes survival difficult for you. Spotting passive-aggressive workers within an organization can be challenging. If you do not understand this behavior early, it can cause grave trouble for you in the long run.

Passive-aggressive employees can be dangerous for your peace of mind and workplace integrity. They often exhibit their behavior by giving you a shoulder, ignoring your suggestions, or saying wrong things about you to the boss. Finding out and nipping this behavior in the bud is critical, or it may cost you your job or respect in the workplace. Here are a few ways to deal with passive-aggressive coworkers.

Understand their Behavior

Passive-aggressive people do not feel comfortable communicating directly with people. Instead, they work passively, whether for good or bad. Passive-aggressive people may be understood better as being angry as a person wholly. They might not feel bad about a particular matter but resent their life or workplace. Usually, these behaviors are embedded in the roots of employees over a long time. It may be due to their family environment or working in a passive-aggressive company. A survey by Booz Allen Hamilton shows that 1/4th of the 30,000 global participants think that they work in a passive-aggressive organization.

There are two types of passive-aggressive coworkers in any space:

Disengaged

These coworkers do not mean harm to an individual or company though they are just disengaged. They want to get along with people in the company like everyone else. Yet, they find it difficult to engage in conversations or activities. Researches show that disengaged workers unintentionally harm the company because of their improper communication.

Manipulative

The other passive-aggressive coworkers realize that they are causing problems for others but do not care about it. They want to manipulate your situation and convey wrong information to others. They know exactly what they are doing.

Identify Underlying Reasons

Once you understand if your coworkers exhibit disengaged or manipulative, passive-aggressive behavior, it is easy to devise a solution. Though identifying their triggers can be of immense help as well. For example, one of your coworkers is uncommunicative and avoids conversations, leading to problems in the department. On the other hand, some workers may exhibit this behavior for a potential promotion. Both these behaviors need to be handled differently, emphasizing the importance of identifying underlying causes.

Do Not Overreact

If you walk into the office and hope not to see that coworker having passive-aggressive behavior, we don’t blame you.

It is quite natural to feel angry at coworkers who often create problems for you. Overreacting may give you immediate peace of mind. Alternatively, you may choose not to overreact and rule out the problem eventually.

Passive-aggressive people work in a particular manner often to push you to react to the situation. Thus, it is vital not to lose your temper and overreact. Make sure to handle their behavior with due emotional intelligence not to affect your performance. A simple yet helpful approach is to feel like you are not a part of the setting directly. Detach yourself from the drama and communicate with team members clearly to avoid doubts.

woman's working in computers

Assess your Behavior

Passive-aggressive behavior cannot be justified by any means. But, sometimes, the person might not be able to express their hurt towards you. You might have said or done something they did not find good for them. The inability of passive-aggressive coworkers to communicate their reservations to you can elevate the problems. You can do your part by avoiding conflicts for your own peace. Talk to them to understand the issues. And if they are not a consequence of your wrongdoing, you know you will have to reason with them in another way.

Be Firm

If the passive-aggressive behavior does not go away after asking them about the problem, it is time to be straightforward. Giving in to your coworker’s behavior will only strengthen them. Try this three-step approach to tell them to mend their behavior.

  • Communicate the problem softly to them. Tell them how their passive-aggressive behavior is causing problems in the department.
  • Propose solutions that may help solve the issue. Suggest direct communication to the relevant person through email if they are not comfortable with face-to-face conversations.
  • Warn them of possible consequences. Be firm and inform them of the consequences they will face if they do not improve their acts.

Implement an Open-Door Policy

Coworkers often build such behavior when they think you find yourself superior to them. They also avoid talking to you, following their beliefs about you. You can prevent passive aggression in the department by implementing an open-door policy. Encourage people to talk to you without the need for formalities. Building trust will push them to get out of their bubble and communicate their concerns better.

Do Not Adopt their Behavior

You might wonder, “Why would I?” But, sometimes people think that it is best to handle a person’s behavior by offering them the same. While you may try it for a short period, it is not ideal for a workplace. It will just add to the number of passive-aggressive employees in an organization.

Look Deep

Often you find your coworkers passive-aggressive. This behavior might not always be personal. Employees may adopt passive aggression from their environment when their management behaves the same way. Workers give back the same attitude when the leaders do not care to communicate with their employees. You can help your coworkers by motivating them and pointing the issues to HR for rectification.

The Bottom Line

Passive-aggressive behavior is common in workplaces. Yet, it is important to eliminate it to promote a healthy environment in the organization. Dealing with passive-aggressive coworkers requires understanding the root cause and triggers and being firm about the situation. You must not give in to their behavior and warn them of the consequences. However, remember that sometimes they might be trying but need help. Look deep into the problem to find a suitable solution.

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

Advantages of the Payback Period in Project

Last Updated on April 26, 2023 By Methew Harbor Leave a Comment

Companies and managers often have to decide between various projects. They use different methods to choose the right project to benefit their business. While the managers may sometimes make decisions based on the overall production, they may also consider aspects like the return on investment. One of them is the payment period approach. The payback approach lies in the payback period of an investment. Let us tell you about the advantages of the payback period in the project. You can read about the disadvantages in another article here.

What is the Payback Method?

The payback method helps understand the payback period of investment. It refers to the number of years it would take for the return from a specific project to cover the initial investment. Most business owners and managers will be more inclined towards a project with a shorter payback period to recover their amount in the shortest period. Let’s say two projects cost the same. One of them gives a higher annual return than the other. The company is more likely to opt for the one with a higher yearly return as it means a shorter payback period.

Advantages of the Payback Period in Project

Selecting a project based on the payback period has advantages and disadvantages. Here are all the benefits of the payback period.

Simple Process

The payback period method is one of the simplest processes in projects. You can easily access the best choice out of different projects depending on the payback period offered by the company. Often managers opt for this method when they cannot decide on the right investment option. You can make a better decision without thinking much about the intricacies of the project.

Easy Calculation

Comparing two projects for the payback method is easier than other methods. You do not have to calculate a lot to make the decision. You will only have to find out the monthly or yearly returns from each investment. It will enable you to make a suitable decision with easy numbers. It may not give detailed prospects about all variables, but it is a convenient way to make a basic comparison.

Swift Reinvestments

The best part about opting for the payback period approach for projects is that it allows you to reinvest your earnings faster.

You can make the right investment choices by trying it yourself. When you choose a shorter payback period, you get the returns early and can reinvest those in another project. You can decide if you want to invest in the same project again or choose another one that gives even better returns in a shorter period.

Good choice for Small Businesses

Small businesses usually do not have huge investment capital and take risks to bear losses. Thus, it is a better choice for small businesses to use the payback period approach. It is suitable for small businesses and offers the same kind of benefits to large enterprises. However, as a small business, you can use this method to see which project will give returns in the shortest period.

Reliable

The payback period is a more reliable method of project selection as it allows you to get your returns at the earliest. It keeps you safe from fraud and potential damage to the business. You may work with a new business as well without having to wait for the cash flow for a long time.

Tax calculation in USD

Maintains Liquidity

Investing your capital in long-term projects may deprive you of better investment opportunities. When you get your investment back in less time, you can use the liquid capital soon in any project. It is one of the most significant payback period methods advantages. It gives you financial liquidity and ensures you can utilize your money when needed. It also gives you the liberty to have money in hand to use in case of trouble.

Avoids Losses

When you invest in a new project for the long term, you may not be sure about its values and return protocols. As small and medium-sized businesses are usually under financial constraints, you can opt for a short payback period in the project. However, if you invest in a company that gives you returns over a short period, you will have a shorter time to break even and reduce the risk of loss.

Useful in Uncertainties

The payback period method is useful in businesses that experience rapid technological changes and are prone to modifications. These uncertainties make it difficult for small businesses to predict the future of their investments. The payback method gives short-term forecasts and early returns to reduce losses.

The Bottom Line

The payback period is one of the most popular methods for project selection. It is a simple approach that helps you make decisions without crunching several numbers. The payback method ensures financial liquidity and gives you early returns. You can reinvest the returns sooner than long-term investments. It is a better choice for medium and small businesses as it is more reliable. This method is also a preferred choice in industries with unpredictable changes.

FAQs

How is the Payback Period Useful to Appraise the Project?

The payback period is a convenient method to decide on the project as it allows you to calculate the risks easily. You can compare two or more projects based on their returns and see which one seems the less risky for you. It can be an excellent choice if you want to make quick decisions.

What are the Advantages and Disadvantages of Discounted Payback Period?

The discounted payback period is quite attractive when investing. Yet, you must consider other aspects of the strategy when opting for it. This approach may ignore the cash flow after the payback period. Thus, make sure to consider the useful payback period and decide accordingly.

What is the Importance of Payback Period?

The payback period is utilized by managers, business owners, financial professionals, and investors when investing in a project. It gives an easy estimate of the payback period and facilitates the decision-makers to make the right choice.

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: Investment & Money, Management

Advantages and Disadvantages of Functional Organizational Structure

Last Updated on April 26, 2023 By Methew Harbor Leave a Comment

A functional organizational structure is the most common among different organizational structures. It ensures every function in the company is carried out properly without any hindrances. The employees and managers in a functional system are experienced in their fields. Each person has a specific role that contributes to the overall operation of the organization. This article has everything, including the advantages and disadvantages of functional organizational structure.

What is a Functional Organizational Structure?

A functional organization may also be called a departmentalized approach organization.

The functional organization structure comprises different departments based on their function.

Each department has a leader known as the functional or department manager. They are specialized in the relevant field and are usually experienced for decades. The expertise of the functional manager enables them to analyze their team and ensure goal completion. The department manager may follow a leadership style of his choice. Most functional leaders follow autocratic leadership, while now many opt for laissez-faire leadership.

A functional structure example includes different departments in a pharmaceutical company. Each department performs a specific set of tasks and reports to its manager. A pharma company is departmentalized into production, quality control, validation, regulatory affairs, marketing, etc.

Some organizations may follow other structures besides functional organization. Opposed to a functional organizational structure, a project structure constitutes a project manager/leader. A matrix system is a dual-management system where the team members report to a functional and a project manager.

Advantages of Functional Organizational Structure

Better Productivity

Employees who work in a department that matches their skill set understand the work more quickly. They perform better than someone with a different educational or experiential background. They do not require all-time supervision and can drive better results. The confidence of people skilled and experienced in a particular domain, enables them to do their best over a short period.

Improved Skills

It is no lie that any manager who believes in growth helps you improve your skills. But, do you know who can help more? A manager who has a similar field of work to you will be able to teach you more than someone with different expertise.

Many people with similar knowledge and skills work together in a functional department. However, some have a better skill set and in-depth knowledge of operational aspects that you might not know. Working with such people provides a better opportunity for newcomers to benefit from the seniors’ experience. It not only improves their technical skills but also helps develop soft skills.

Saves Time

A functional system is quite quick as everyone performs specific tasks assigned to them without ambiguity. Every department in the company is associated with a particular set of tasks. The processes are smooth and run swiftly.

When a person in the marketing department needs to talk about his salary issue, he knows who to approach (the finance department). Similarly, when the salespeople from the sales department want to know why production was not up to the projected numbers, they may contact the production officer or manager. This kind of system brings clarity of roles within a company and saves time.

Expansion

It is easier to expand operations in a functional organizational structure. When growing a functional structure, you only need to add more departments or sub-departments within the system to distribute the workload. Like line and staff organization, it is convenient to expand the functional system. However, an added benefit is that you do not have to worry about more line managers. You can begin by recruiting a manager with the required skill set and build the team gradually.

Better Control

control the aloe vector

Managers find it more convenient to manage a team of individuals with a familiar skill set. It lets them analyze the performance of their team members better and control their actions. When a manager is not adept at the work they supervise, they might not be able to judge their teammates’ abilities fully. Departmentalization gives better control to the managers over the functioning of the workers.

Cooperation

Members of a department are more likely to work in place of each other when needed than in project organizational structures. As everyone in that functional unit understands each other’s work, they may replace another member when required. It improves coordination among the team and promotes harmony (especially under an affiliate leader).

Less Operational Costs

A functional organizational system also helps businesses save money besides enabling the team to improve their skills and enhance production. Improved efficiency of the employees leads to a lesser need for supervisors. They save time and enhance production because of their expertise in their field. The functional organizational structure can fit any organization but is more suited to larger enterprises. Small companies usually do not have many employees to group them into different departments.

Job Security

Being a part of a functional organization system provides job security to the workers. They are difficult to replace as they improve their skills and become experts in their domain. Contrarily, they might not get the right opportunities to focus on their professional growth in a different organizational structure. The sense of job security boosts motivation and heightens their morale. The employee works harder to be the best at their craft.

Promotions

A functional organizational structure offers better chances at promotions. As people gain more skills, they perform more efficiently. Efficient work and confidence in their skills make them eligible for promotions.

Disadvantages of Functional Organizational Structure

Slowed Decisions

Unlike laissez-faire, which enables the employees to make decisions, a manager makes the final decision in a functional organizational structure. Sometimes, the decisions may require the approval of the higher hierarchy, including the CEO or board members. The absence of any of the decision-makers causes a delay in functioning. It may also lead to a delayed output of crucial matters.

Inter-Departmental Competition

It is no news that the departments of a company often compete with each other. Mostly it is based on performance where one department wants to take the credit for all the hard work. Different departments might build a mindset when incentives are involved in achieving goals. The inter-departmental competition ranges from the worker level to the managerial level. Sometimes, the departments also blame each other for operational issues. For example, the development team might blame the quality assurance department for bugs in software.

Limited Growth

As we mentioned, people in a functional organizational system improve their skills through guidance from the leadership. You can benefit from a functional system if your manager is interested in teaching you. However, it is subjective to your team members and managers. When your manager follows a coercive leadership style, they expect you to only focus on the work given.

Communication Issues

Besides competition, communication issues may arise between departments. Sometimes a team member expects the other to convey a message to another department. In case they forget, the task remains undone until they inquire about it. This interdepartmental miscommunication and conflict may harm the business. It often leads to major problems as the managers think the other department did it intentionally. This can be improved with proper methodologies.

business Communication Issues

Boredom

Monotony can sometimes lead to boredom and reduce enthusiasm among employees. When workers first join a department, they enjoy tasks matching their skills and expertise. Yet, over months or years, they get tired of working in the same environment. A functional organization may not be able to provide a different role as they require specialized persons.

Rigid

Managers make decisions that they find suitable without considering the impact of their decisions on different departments. Working in one department may lead to a lack of information about other departments if you do not communicate well. It can cause rigidity within the company where changes and flexibility are not welcome.

Isolation

Some departments in an organization are isolated from others because of their functions. For example, the manufacturing plants of many companies are in distant industrial areas. They do not get to interact with several departments. Sometimes the employees may get tired of working in an isolated place and expect the company to change their role.

Autocratic Leadership

Often autocratic leadership rises in functional organizational setups. Today, employees do not appreciate coercive, authoritative leadership that lacks innovation. Some workers might also leave when they think that the environment is too dictating. Employees must be dealt with in a non-dictating way to instill ownership in them.

Employee Retention Costs

Employees sometimes look for better opportunities when they are more skilled. They understand their value in the market and apply to better places for jobs. If you depend highly on them, you must increase their salary and benefits. This eventually leads to added costs in the recruitment process.

The Bottom Line

The advantages and disadvantages of a functional organizational structure go hand in hand. While it improves the employees’ skills, it enables them to look for better job opportunities. It enhances coordination within the departments but also increases interdepartmental competition. It also boosts productivity, offers better control, and eases expansion. However, functional organization disadvantages include monotony, rigidity, interdepartmental communication issues, and employee retention costs.

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

How to Provide Effective Training to Remote Employees

Last Updated on May 8, 2023 By Jason Obrien Leave a Comment

With minimal planning or time for adaptation, many firms have embraced a hybrid and remote work culture since the 2019 pandemic. Employees and trainers had to work outside the office for the first time due to this move.

Understanding the advantages and disadvantages of remote training is crucial because there needs to be advance notice, planning time, or instruction on how to teach remote workers efficiently.

Although remote work has enhanced training programs, 60% of HR professionals still need to provide their staff with remote work training. Enterprise L&D leaders are startled in 95% of cases.

HR leaders must invest in training and certification to ensure their remote workers have flawless work experience.

Any current training initiatives will have a lasting impact on the workforce.

What are the Challenges of Remote Employee Training?

A major problem with remote work is the need for in-person interaction, especially when switching lately from classroom-based models.

Trainers are concerned that students won’t work as hard to learn without in-person guidance, yet many students struggle with the lack of “over the shoulder” teacher assistance and communication.

One of the most prevalent concerns about working remotely is that information is difficult to acquire, and employees miss out on casual social contact in a workplace environment.

If conducted properly, online virtual training sessions can be helpful. Technical difficulties, distractions, and communication should all be present during group training sessions.

Companies must ensure remote employees have access to childcare and a separate office.

Finally, it’s critical to properly plan and conduct remote staff training to reduce technological challenges.

How to Overcome the Challenges?

Given below are some of the best strategies that will help you overcome the challenges of training your remote employees:

Build Manageable and Efficient Teams

A workforce may swiftly adjust to a new remote work culture with routine virtual team-building exercises.

These can foster better teamwork and communication, boosting output and increasing job satisfaction.

They may also promote a feeling of belonging and community, which are crucial for retaining and engaging employees.

Clear communication channels must be established, and frequent check-ins must be scheduled to overcome this difficulty.

Virtual team-building exercises are useful because they encourage coworkers to cooperate and keep staff linked to one another.

They also enable team leaders to communicate organizational goals and inspire staff to put up their best effort to achieve them.

Moreover, virtual team-building exercises in a remote working environment boost productivity, develop a sense of belonging, improve problem-solving skills, and stimulate creativity.

Leverage Coworking Spaces

Coworking spaces offer a professional setting that encourages innovation and teamwork, which can boost remote employees’ enthusiasm and productivity. 

They also give access to information that might not be available at home and networking possibilities. 

Coworking spaces are designed to maximize productivity by offering a range of settings, desk configurations, and meeting places to accommodate various types of workers.

They also foster a feeling of community and provide possibilities for networking with other like-minded professionals, fostering a supportive and motivational atmosphere that may foster creativity and innovation.

Employers can offer coworking passes to remote workers without having to move them, giving them space to learn and train together whenever required.

Promote Microlearning

Microlearning is a type of online education that delivers information in manageable chunks that individuals can readily understand.

It is especially appropriate for telecommuting personnel since it makes it simple to stay in touch with their team from wherever.

Microlearning sessions often last at most 20 minutes, making it simpler for staff members to finish the course throughout the workday.

Before beginning training programs, it’s crucial to establish the team’s objectives and assign them a single deadline. 

Because shorter videos may cover more material, microlearning is a great format for designing an extensive course for remote employees.

Personalize with video clips and make the training interactive with chat pods, polls, or digital whiteboards by setting up a bimonthly call.

Content must be readily available to make it easier for team members to get the information.

Organize a Training Plan

To have a productive training session, be well-organized and educated about the technologies you are utilizing.

Add the items to a library for self-directed learning or load them into your platform to make a slide show.

Incorporate polls or surveys into live video conference sessions to increase participation and interest.

training for improvement ITIL

To ensure participants complete learning objectives and give a systematic approach to their education, including evaluations and procedures for submitting and grading self-directed courses.

Provide learners with clear expectations for their self-directed work and practice instructing in front of a camera beforehand.

The efficacy of the self-directed learning experience may also be increased by including chances for self-reflection and feedback.

Keep Tracking the Work and Progress

For remote employee training to be successful, results must be tracked. It enables companies to pinpoint training program gaps and make the required changes, ensuring that remote workers get the assistance they require to be successful in their positions.

Moreover, tracking outcomes may help firms make wise judgments regarding upcoming training projects by revealing useful information about the efficacy of remote training techniques.

Before training, establish goals to be measured, and obtain feedback on the value and efficacy of the training using brief online questionnaires.

Track goal completion, evaluate the training’s effectiveness, and make plans. It’s essential to assess the success of training in order to pinpoint problem areas and make the required modifications to future training initiatives.

Preparing for the Future of Work!

By developing efficient communication techniques, providing the required technology and resources, and ensuring that staff members have the skills necessary to function in a virtual environment, leaders can prepare for the workplace’s changing nature.

They must also put employee well-being and engagement first to keep a healthy business culture.

Leaders must use remote training tactics in the modern workplace to manage their teams effectively. They can ensure that everyone on their team has the skills and resources to do their tasks properly, no matter where they are situated.

Jason Obrien

Jason is the Marketing Manager at a local advertising company in Australia. He moved to Australia 10 years back for his passion for advertising. Jason recently joined BFA as a volunteer writer and contributes by sharing his valuable experience and knowledge.

Filed Under: Management

Disadvantages of the Autocratic Leadership Style

Last Updated on April 17, 2023 By Methew Harbor Leave a Comment

The autocratic leadership style has a bad reputation. Yet, many organizations prefer it over modern leadership styles. Traditional leaders opt for an autocratic leadership system as it is stricter and delivers quick, accurate results. However, it can also lead to a higher turnover rate as many people do not like a dictating style. Besides the advantages, the disadvantages of the autocratic leadership style are also important. Thus, make sure to weigh them both before you choose an autocratic leadership style for your organization.

What is an Autocratic Leadership Style?

An autocratic leadership style refers to an organizational system where the leader makes all the decisions. Managers in autocratic leadership do not consult their team and finalize all decisions themselves.

The major components of autocratic leadership include:

  • A strong leader trusted by employees in the company
  • Workers are ready to listen to their leaders.
  • Employees willing to work per the standards set by the leaders

Disadvantages Of the Autocratic Leadership Style

Micromanagement

Micromanagement has been the base of management in the past. However, now employees prefer organizational systems that free them from reporting every minor step to the managers. Unlike transformational leadership, autocratic leaders turn into micromanagers. Autocratic leaders want to ensure that every part of the process occurs according to the instructions. They believe that their reputation relies on the results. Employees feel mistrusted and suffocated as they are expected to report every activity. It may cause a decrease in productivity instead of a boost.

Lack of Trust

The most important part of a functional organizational system, project-based or any other is the leader’s trust in their employees. It gives the workers a sense of ownership and satisfaction that their manager believes in their abilities. Nevertheless, autocratic leadership is based on mistrust. The lack of trust among employees and the leadership is a barrier to sustainable relationships and a friendly working environment. It prevents the employees from suggesting solutions that may be better than the manager.

Lacks Ownership

Ownership is essential for any company as it pushes the employees to work better and drive results. Contrarily, an autocratic leadership style does not offer ownership to the workers. Autocratic leaders think that giving ownership will result in a loss if the employees are not skilled enough. They believe that the employees are only supposed to work behind the curtain. Employees eventually build resentment and do not care about the company’s benefit.

Dependence

When the workers wait for instructions and approvals from the managers, they cannot expect independence and innovation. Autocratic leaders expect the employees to work on the guidelines and decisions made by the higher management. The whole system will face disruption if the autocratic leader is away. Thus, the manager always has to be around to make sure everything goes smoothly.

The Leader Influences Work Culture

It is a common understanding that the leader’s behavior determines the working environment in the company. An autocratic leader may maintain a positive environment in the company by encouraging their team members. On the other hand, sometimes, they may lead to an unfair atmosphere when they prioritize high performers over others. This leadership style depends solely on the morals and values of the manager. Thus, if the autocratic leader does not have high ethics and morals, it can lead to conflicts in the organization.

No Accountability

The initial image of an autocratic leader comes from being responsible and accountable. However, like it is mentioned in the advantages and disadvantages of laissez-faire leadership, autocratic leadership also lacks accountability. Typically the leaders take responsibility for the high-quality work produced by the workers. In case of an issue, they may refuse to accept the blame for that task. It does not occur usually. Yet, a leader with a lack of ethics may do so.

Difficulty in Modifying Mistakes

It is quite easy to understand that autocratic leadership relies on the leader, like an authoritarian leadership style. When the leaders make all the decisions, it can be difficult to correct poor results over the long term. The most widely adopted solution to this problem includes replacing the autocratic leader or introducing a new leadership style, such as a visionary leader.

Autocratic Leadership

Talent Goes Unnoticed

When the leaders are too busy making decisions for the company and their implementation, they might miss out on worthy talent. Modern leadership styles like coaching leadership help bring the best potential out of the workers. Autocratic leadership does not appreciate innovation or suggestions. This constant cycle of ordering the employees and getting the work done can kill creativity in some employees. It is one of the most considerable disadvantages of the autocratic leadership style as it deprives your organization of some pure talent.

Increases Turnover Rate

What else does a company expect when they do not trust or appreciate its employees?

Autocratic leaders do not work toward the benefit of their employees, and the workers eventually reciprocate. They lose interest in daily tasks because of the monotony and master-slave relationship. They cannot innovate or make decisions on their own, making them feel useless and unwanted. Many employees leave their companies to join another where their input is valued. One example is free-rein leadership which allows the employees to make and manage decisions.

The Bottom Line

Autocratic leadership is not encouraged in modern organizational and leadership systems. Experts believe it depicts a master and slave mentality where the employees cannot decide or innovate anything. One of the most crucial disadvantages of autocratic leadership is a lack of trust in the team. The employees believe that their managers do not trust them enough to give them the freedom to make changes. It also lacks accountability, ownership, and independence. Such leadership styles lead to an increase in the turnover rate.

FAQs

What are Some Advantages and Disadvantages of the Autocratic Leadership Style?

Autocratic leadership has a few advantages, like clear instructions and workplace expectations. The employees do not have to worry about the decisions. However, autocratic leaders do not give authority to their employees either.

What is a Disadvantage of Authoritarian?

The authoritarian leadership style is similar to the autocratic style and suppresses creativity. Authoritarian leaders do not take their employees’ experience of creativity into account and believe that they make the best decisions themselves. It also leads to results similar to autocratic leadership.

What is a Disadvantage of Democratic Leadership?

A democratic leadership style often depends on the team members to make decisions. The team may feel under pressure because of the need to make quick decisions sometimes. It also creates a feeling of uncertainty among the team as they wonder when they will be needed for a decision next.

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

A Brief Guide to Commercial Energy Management

Last Updated on May 8, 2023 By Jason Obrien Leave a Comment

Today, businesses have become more aware of Environment, Social, and Governance (ESG). As such, they do everything they can to ensure they’re socially responsible and practice environmental sustainability through proper waste management, sustainable sourcing, and energy management.

Energy management involves controlling, monitoring, and reducing your business’s energy consumption. Effective energy management is a crucial aspect of a successful business. It reduces your business’s carbon footprint and cuts energy costs, reducing the total amount you’d otherwise spend.

Energy management uses the 360-degree approach to assess your business’s energy-related risks. It’s a continuous cycle that requires regular monitoring, tracking, controlling, teamwork, and effective energy management strategy implementation.

Suppose you’re a building manager or owner. You might be looking for ways to increase energy efficiency for commercial buildings. Fortunately, this article discusses five tips to help you in this endeavor:

Measure your Current Consumption Rate

The first step to effective energy management is analyzing your business’s total energy consumption rate. This step means taking your energy meter reading from time to time to determine the energy consumed during off and working hours.

You can call for an energy audit to investigate all energy sources. You should include natural gas, solar, and electricity and inspect factors that affect your energy consumption, such as heating and cooling systems, lighting, machinery, and appliances. This way, you can identify opportunities to save on energy, reducing your utility bills.

Identify Areas of Reduction

The next thing you’d want to do after measuring your current energy profile is to identify areas you can minimize the amount of energy consumed. It may involve reducing old machinery and appliances with energy-certified ones and reducing the electricity used in data centers. You can also invest in solar power, wind farms, or other sustainable energy sources.

Here are other ways you can do to save energy in your commercial properties:

  • Invest In Energy Management System (EMS): AnEMS is an energy framework for power consumers, including commercial, industrial, and other energy-consuming sectors, to help manage their energy use. It uses innovative technology and monitoring tools to visually represent energy consumption in a property or business.
  • Add Insulation: Proper insulation will reduce energy expenditure by limiting the heat that escapes from the building, maintaining a comfortable temperature, and minimizing the need for heaters and coolers.
  • Consider HVAC System Maintenance: A well-maintained heating, ventilation, and air conditioning (HVAC) system improves indoor air quality and reduces the energy used to maintain comfortable temperature levels. Alongside installing insulation, you may also want to maintain your HVAC system regularly.

Saving energy results in environmental conservation and reduces your utility bills. Therefore, you’d want to invest in quality EMS, HVAC, and proper insulation.

Create an Energy Management Plan

A well-crafted energy management plan is crucial for creating a sustainable future for your properties and businesses. It helps reduce energy waste and greenhouse gas emissions, ultimately reducing your carbon footprint. Your plan must outline the steps to optimize your energy use.

However, your strategy will work better if you engage your team members. Train them on how energy conservation benefits the business. Request them to switch off lights and power-consuming machines when not in use. You can even incentivize the best-performing team members as motivation.

Manage your Energy Supply Contracts

A good energy management strategy ensures you source power at affordable rates and the best possible prices. This means managing agreements and negotiating with suppliers for reliable and affordable sources. That said, here are a few pointers for managing your energy supply contracts:

Conduct Thorough Market Research

A thorough research will help you keep up with the current market research and identify the key players in energy supply. After knowing the various suppliers, request a competitive quotation to find the best prices. 

Establish your Goal

Considering your long-term plan before signing any contract would be best. It could be reducing energy costs or looking for sustainable and renewable sources.

The best part is that you can have both, as sustainable energy sources such as solar systems lead to cost reduction. However, it’s always advisable to establish your primary goal.

worker hand holding solar panel

Consider the Contract Structure

Before signing any papers, consider the contract structure. The most common contract types are fixed and structured rates.

In fixed rates, the supplier charges a specific amount for the period. At the same time, the energy price varies depending on market changes in structural rates. Therefore, consider structured contracts to exploit favorable market conditions and seasons like shoulder months.

Renew Contacts on Time

Ensure you renew your energy supply contracts to avoid power outages, which may disrupt your production process and penalties from early contract termination.

Managing your energy supply contract ensures you have a constant and reliable source. It guarantees affordable sources and optimizes your energy use.

Track your Progress

Commercial energy management doesn’t involve implementing an effective management strategy and managing your supply contracts. It would help if you also track your progress to see whether or not your plans are working as intended and whether they align with your long-term goals.

Check to see if there’s a difference in energy consumption before and after implementing changes. If you’ve noticed a difference, your strategies are working. If there’s no change, consider returning to the drawing board and creating a new game plan.

Conclusion

Generally, effective commercial energy management is a step closer to achieving your business objectives. It allows you to control, monitor, and minimize energy consumption, leading to less carbon emission and reduced energy bills. Just remember to implement a functional energy management strategy and track progress to see how it performs.

Jason Obrien

Jason is the Marketing Manager at a local advertising company in Australia. He moved to Australia 10 years back for his passion for advertising. Jason recently joined BFA as a volunteer writer and contributes by sharing his valuable experience and knowledge.

Filed Under: Business, Management

Characteristics of a Successful Control System

Last Updated on April 10, 2023 By Methew Harbor Leave a Comment

Control systems are an integral part of any company to achieve its goals and objectives. Any business can make a name among its competitors only when they have sufficient control systems throughout the operation. Organizations utilize external and internal controls in their processes in various ways. Whether you talk about financial, IT, or any other functional control in the company, they all contribute to company success when effective. All the effective control systems have a few features in common. Let us tell you about some characteristics of a successful control system.

What are Control Systems?

Control systems in an organization refer to measures that allow executives to track the organization’s performance. It includes specific kinds of control systems for every department. You may say that each department of a functional organization (or others) must have a control system. By analyzing the performance, they help identify the areas of concern. Control systems must be present in any operation’s input, processing, and output phases. The common control systems in any organization include the following:

  • Quality control
  • Document control
  • Financial control
  • Marketing
  • Human Resource

Characteristics of a Successful Control System

While each control system may vary from the other, a few parameters judge the success of the control system. Here are the typical characteristics of an effective control system in an organization.

Properly Planned

You must add the control systems to an organizational system after thoroughly planning their implementation. The managers and officers should be aware of the working of the control system and the needful departments.

Accurate

Accuracy is the most critical element of a successful control system. An effective system produces accurate information that helps in managerial decisions. Inaccurate information is of no use and may also cause damage to the company. Just like accurate information helps diagnose problems in functioning, inaccurate information can offer wrong leads. The energy and resources of the company focus on unneeded corrections. Sometimes, the personnel may interpret the results of the control system inefficiently and majorly impact the leaders’ decisions.

Immediate

You may not always require a timely response from a control system. Yet, sometimes it is inevitable. Some problems need immediate analysis and correction in the early stages to implement a suitable solution as soon as possible. Problems that require immediate attention must be addressed in time, or the damage might be too much for damage control. A good control system ensures a smooth flow of the required information to the management within the time for good action.

Flexible

The business and technology dynamics change rapidly, and you may need to make sudden changes in the control system. An inflexible or rigid control system would not allow you to change it according to needs. Alternatively, an effective control system is designed to cope with business, economic and technological changes. The decision-makers should make necessary alterations in the controlling system and methods with changing times. If the systems are not up-to-date according to the needs, they may not give accurate information.

User Friendly

Implementing a new system in the company, including a control system, should be easy for the users to understand. It will help those operating the operating system and those who the system affects. The workers might not be able to interpret the results when the system is too complicated to understand. The company officials must inform the workers about the need for the control system and its importance in daily processes. Implementing a control system is not easy when the employees do not accept or understand its functionality.

Objective

Objectivity is among the most prominent characteristics of a successful control system. The control systems must provide objective results based on all the parameters relevant to the functioning of the organization. Managers and leaders can only make the right decisions regarding correcting the processes when the control systems give objective data and information.

objective

Realistic

When you implement a control system into the operations, ensure that it is realistic to your organization. It should deliver all essential functions you require by analyzing the situations properly. The performance standards should be realistic and compatible with the organizational structure.

Economically Viable

While a control system is integral for any company, it should not burden the organization. Your control system must be economically feasible and balanced. The benefits of a good control system outweigh the cost.

Always choose a control system according to your needs. You do not have to go for a high-profile control system when you do not need one.

Placement

Do you think your company’s finance department needs an expensive control system? But, what if it is the only department that needs such a system?

The best bet is to strategically add your control system to the area of need. It will allow you to control the processes without damaging your budget effectively. Strategically place your control systems where the company cannot tolerate failures. Again, if the benefits of the system outweigh the cost, it is an effective system.

Corrections

With advancing technology, the control systems now provide an appropriate corrective action besides finding the problem. For example, if the control system detects juice bottles with a less volume, it should either discard them or put them back into the belt for refilling.

Emphasis on Exceptions

Control systems must be not only effective but also efficient. One of the most important characteristics of a successful control system is its ability to judge the problems. The system should be designed only to point out critical issues and let go of exceptions. It will allow the management to focus on the important problems instead of wasting time and resources on petty issues.

The Bottom Line

Control systems are essential to evaluate and correct operational issues in an organization. Characteristics of a successful control system include accuracy, flexibility, and immediate results. The cost of a good control system must balance its advantages and be a burden on the company. Modern control systems are also able to take remedial actions according to the interpreted information. It enables easy assessment of issues and timely implementation of corrective measures.

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

  • Go to page 1
  • Go to page 2
  • Go to page 3
  • Interim pages omitted …
  • Go to page 24
  • Go to Next Page »

Primary Sidebar

MBA Students
person's hand holding a silver key
How to Mitsplay Make Money
Oil And Gas Recruiting With HireStrong
document and home placed on a table
man-hand-holding-tape
Fixed Annuity dollars
Data Observability
Travel Opportunities Options
How does Fetch Rewards Make Money
Investment
Differences between a Growth and Fixed Mindset
man using calculator
loan agreement paper
Singapore Good for Business Expansion
Rollover Your IRA
Bail Bondsman make money
How Does Credit Karma Make Money
CNA MAKE MONEY
Susan-Schneider
Generational Wealth Money Dollars
3 Services Offered by Ecommerce Business Builders
BCP
Profit
Make Money

Footer

  • About US
  • Contact Us
  • Blog
  • Comment Policy
  • Terms & Conditions
  • Privacy Rights
  • Privacy Policy
  • Follow Us On
  • – Google News
  • – Facebook
  • Entrepreneur Skills
  • Business Cycle
  • Business Ideas
  • App Makes Money
  • Be Wealthy
  • Psychology in HRM
  • HRM in Business
  • Businessman Qualities
  • Salespeople Types
  • Health & Business
  • Business Success Rules
  • Stress At Work
Copyright © 2018-2022 BFA