Month: May 2018

Hotel 25 Improvements How To Succeed In Hotel Industry

Business Management blogger

Movement is life. This principle is true for business as well. Every business must develop otherwise it will fail sooner or later. Loss of competitive advantage results in loss of customers. There is a tough competition in all markets, and customers of free to choose any products they like. If a customer is not buying from you it will most certainly buy from your competitor. This is true for all businesses, including hotel business. This industry is highly competitive as there are hundreds of hotels in every country. When high season comes hotel top managers do everything possible to attract customers and make them stay in their hotels. Of course, they do not only promise high quality services but the actually offer them. Hotel is not just a place where you spend the night. Some people want to feel at home in a hotel. This is possible in case you come to a top quality hotel.

In order to improve hotel services owners and managers of our hotel need to know where to start from. In other words they have to be aware of current performance in order to make plans for the future. Until recently performance evaluation was about measurement of financial indicators for the past periods. Such approach is not perfect since it misses nonfinancial indicators that are extremely important in any industry. It is not enough just to announce implementation of new plans and improvements in hotel. A real work begins when these improvements are implemented and measured.

For example, if a new service, say, WiFi connection in all rooms is introduced the hotel spends a certain amount of money to buy equipment and maintain network. Then, the quality of Wireless Network has to be evaluated. However, what is more important is the attitude of customers towards this new service and the way they use it. If it turns out that only 10% of hotel guests actually use wireless network and only half of them really require high speed Internet there is probably no point in spending huge money for super speedy Internet. If most of hotel guests are business people for whom high speed Internet is necessity than well established wireless connection is a must.

If improvements concern reception service top management of a hotel needs to understand who their guests are and why they come to their hotel. If most of them are tourists than it would be reasonable to introduce new services like offering information on sightseeing tours, contact details of various Entertainment Services, taxi phone numbers etc. As time passes by, efficiency of these improvements needs to be tested in order to introduce amendments if necessary.

Such evaluation of improvements can be performed with the help of Balanced Scorecard which is a very efficient performance evaluation and strategic management system. Balanced Scorecard will coordinate efforts of all services and business units of a hotel and align strategies of different departments, for example restaurants and hairdressers service. This is a flexible system which means changes can be easily introduced.

Strategic Reasons Why You Need A Business Management Team

Business Management blogger

I have watched or listened to several successful entrepreneurs and drop out billionaires being interviewed. I have read several business books and studied the business success strategies of famous entrepreneurs; and they all seem to share one thing in common. They all attribute their rapid business growth to their business management team. Now why is a business team important to an entrepreneur? Why should you build an in-house business management team when you can always seek external advice? What impact will a business team have on your business?

These are usually the questions I receive when I discuss the importance of having a business team with my protgs. You may be a small business owner operating a mom and pop shop but I still want you to know that you need a business team. It may not be your short term goal but you need to include it in your long term plan.

“Individuals don’t win in business; teams do.” – Sam Walton

No successful entrepreneur assembled a business management team in a day; it’s a process that can take as long as ten year before the perfect team assembles. Finding the right business team is definitely not an easy task and it is one of the ten major business challenges entrepreneurs face when starting a business. Now why do you need a business management team? Well, below are ten strategic reasons why you building a business team should be your long term goal.

Ten Strategic Reasons why You Need a Business Management Team

1. Raising Capital: One of the key reasons why startup entrepreneurs don’t get the venture capital is because they are trying to raise capital alone. A business mentor of mine once said that venture capitalists prefer an average product with an excellent business team than an excellent product with an average business team. If you should consider this statement; you will come to acknowledge that it’s the truth in its entirety. A business team is vital to the process of raising capital for your business; in fact, it increases your chances of securing the capital. Show me an entrepreneur that raised billions of dollars in capital and I will show you an entrepreneur backed by a strong business management team. Just like said in the investment world; money always follow management.

2. Taking advantage of new or existing opportunities: Having your own business management team will give you the leverage to take advantage of business opportunities effortlessly. A business team will be your eyes, ears and nose in the business world; they will not only help you sniff out opportunities but will also help you create opportunities out of thin air.

“A business idea is just another idea. But an idea backed by a strong feasibility, a thorough business plan and a smart team is no longer an idea. It’s now a solid business opportunity worth pursuing.”

3. Strategic business development: Do you want to grow your business from the inside? Do you want to strengthen your bottom line? Then build your own business management team. Strategic business development is not the doing of an individual but a collective effort of a business team. Employee performance programs, staff motivation and operational excellence are part of the duty of a business team.

4. Rapid expansion and growth: Take a close look at companies that grows rapidly and stands strong in times of economic recess and you will find a strong business management team behind such companies. The massive outside expansion of any company is the handiwork of the business team. An entrepreneur visualizes while the business team draws the plan; critique the plan and executes the business plan. For instance, take a look at the rapid acquisition move taken by Oracle Corporation; buying up a total of 57 companies within five years. That’s the power of a good management driven company.

5. Business leverage: How is a company able to operate successfully in different sectors of the economy? How can an entrepreneur successfully run a business conglomerate? The answer is leverage. The leverage of a business team is the reason successful entrepreneurs became billionaires effortlessly. Leverage is the reason why entrepreneurs such as J. Paul Getty and Carlos Slim Helu are able to run over 200 companies without burning themselves out. The leverage of a business team is a form of intellectual leverage. Just as a man is known by the friends he keeps; so is a business respected by the management team it keeps.

“Successful businessmen share the ability to hire people smarter than they are.” – Dillard Munford

“People are definitely a company’s greatest asset. It doesn’t make any difference whether the company’s product is cars or cosmetics. A company is only as good as the people it keeps.” – Mary Kay Ash

6. Increase confidence of the investors: Just like I stated above; money follows management and who provides the money? The answer is the investors. Nothing inspires or boosts the confidence of an investor than the professionalism of the business management team piloting the affairs of the company he/she invested in. Have you tried raising capital before? Have you tried sourcing for contracts before? Have you tried sending a business proposal to another company before? Have you ever tried selling a business before? Or better still buying a business? Have you ever taken a company public before? If you have engaged in any of these acts; you will come to accept the fact that one of the most popular questions investors ask is this:
Who is on your team?

Who on your team has taken a company public before?

Who on your team has experience in business management?

The questions above are real life questions asked by investors because they feel comfortable hearing the fact that the managers of their investments are competent.

7. Increase the entrepreneur’s credibility and competence: Observe the words of successful entrepreneurs and drop out billionaires carefully; and you will see that they attribute much of their success to their team. Have you ever wondered why some drop outs end up successful business owners? The reason is because they built their business on the shoulders of intellectual giants; who happen to be members of their business management team. An entrepreneur can never know it all and that’s why he/she relies on the calculative initiative of the business team. Show me an entrepreneur backed by a weak business team and I will show you an incompetent entrepreneur. So if being recognized as an entrepreneur of credibility and competence sounds good enough to be added to your resume; then build your own in-house business management team.

8. Strategic innovative thinking: Innovative companies are usually companies driven by a strong management team. Observe companies such as Microsoft, Apple, Oracle and Sony; and you will come to realize that these companies have being built, driven and sustained competitively on innovation. Now who are the engineers of innovation? It’s the business team; the brains behind the company. Tactical approach to issues, detailed competitive analysis and strategic thinking are benefits derived from having your own business team; so would you rather not have one?

9. Critical problem solving: How does a company survives a recession? How does a company survive in a fierce market? The answer still lies in the team. Entrepreneurs are known as critical problem solvers but I also want to add that problem solving is a product of collective strategies and ideas put together by a group of individuals; and such individuals in this case is your business team. Critical problem solving is the reason why teams go on brainstorming sessions. Now tell me, how do you create a brainstorming session when you don’t have a business team? I leave that for you to answer.

10. Increases the value of the business: Value appreciation is the last but not the least reason why you need a business management team. One of the most important assets of a business is the management team because with a good business management team; every other asset can be synergized into yielding positive results for the company. The reason why I call a business team your most important asset is because other assets are easy to create or control once the right business team is in place. So instead of focusing on improving your lifestyle; acquiring investments individually or running your business solely, I will advice you first build a business management team and the rest will fall in place.

Maintenance Management System in Hospital (Ultrasound & CT Scan Equipments)

Business Management blogger

BACKGROUND STUDIES /PROBLEM STATEMENT:

Recent maintenance practices in hospital (health care equipments and services) and use of computerized maintenance management system (CMMs) based hospital information maintenance management system (HIMMs) provide good practices during evaluating performance and effectiveness of equipments. But unfortunately, CMMs and maintenance activities i.e. Breakdown maintenance (BDM), planned preventive maintenance (PPM), productivity is not solve problems at all. Several reasons are: 1. CMMs not solve problems of repetitive failures, BDM , PPM for long term 2. CMMs also not predict life cycle and durability of equipments for long period For this reason, need of such system that can predict and resolve problems at all.

This research project is aimed to provide two ways to solve problems by using theoretically mathematical equations from literature review and modify equations for particular for repetitive failure, BDM, PPM and equipment productivity. Second way CMMs software is to design which is completely reliable; predictable critical factors for not only now, but also long term purpose. The results in terms of system assist facility managers or clinical engineers (biomedical engineers). Sustain life of equipments, easy to replacement and repaired etc.

OBJECTIVES OF RESEARCH PROJECT:

The objectives of the project are: 1) To evaluate maintenance management system in hospital (health care equipments and services) 2) To modify mathematical equations for measuring maintenance activities of ultrasound equipment and CT scan equipment

METHODOLOGY: Data Collection Strategy: Data collection strategy is obtained from visited and observation biomedical engineering department. Select two imaging equipments -ultrasound machine’ & -computed tomography machine’ from various hospitals like Hospital Serdang, Hospital Putrajaya etc., to collect equipments inventory data. Data collection strategy is focus equipment assets history. It includes planned preventive maintenance (PPM), Breakdown maintenance (BDM), Schedule work, work orders (w.o), action taken, vendor services, parts management, utilities, and reports. Data collection is need because: a) Calculate repetitive failures, BDM and PPM b) Measure Productivity and Equipment effectiveness c) Life and use of equipments for long term purpose Analysis of Data Collection: Analysis of the data depends upon asset history of particular equipments. Identify repetitive breakdowns, planned preventive and productivity performance in both medical equipments. The strategy for analyze data is to specified no. of failures, no. of breakdowns and no. of planned preventive for last three years. Analysis of data collection is required because: a) Interpret particular problems b) Apply modify equations to solve problems Mathematical Analysis In general, previous studies on maintenance management system provided mathematical formulas and equations not at all overcome problems of equipments. In medical equipments i.e. reliability equations and availability equations are not enough to measure maintenance performance of ultrasound and CT scan. Predicted Breakdowns

In this project, provide specific and modify equations which is use to solve medical equipments maintenenace problems. (Stephen, 2004) This equations are modified on the basis of productivity and reliability maintenance management.. Stephen defined equations: Breakdown (Excepted)= S (No. of Failures) * Frequency of Failure / Total No. of Failures, But modify equation will be: Breakdowns (predictable) = (a1+a2+a3—-an) * () / Tf Therefore a is no. of repetitive failures, an is nth term of failure which is expecting failure with time, is frequency of failure occurring in duration week, months, Tf is total no. of failures per years. Conclusion In the end, evaluating MMS in hospital is prime consideration for clinical engineers. This modify equations of equipments will improve maintenance practices overall and overcome failures, breakdowns. Successful in implementing and applying mathematical equations will definitely increases productivity and overall equipment effectiveness. Nonetheless, due to the necessity to ensure maintenance management system, figure 4.9 data analyzed and interpreted from maintenance part of the asset of equipments contains several factors that serve as the determinants to the success of maintenance practice for health care sectors. By using mathematical approaches and data analysis from maintenance part of the asset of equipments contains several factors that serve as the determinants to the success of effectiveness of equipment and best maintenance practice in health care industries.

RESULTS: 1. From above calculation, the result shows that repetitive failures, BDM, PPM always key parts and critical factors in maintenance practices.

2. Breakdowns maintenance in ultrasound much more and predictable during last three year so it would be a greater expensive alternatives if equipments not replaced on time. 3. CT scan has low rate of breakdowns maintenance during last three years so it would be predicted that less equipment expensive alternative so no need to replace equipment.

4. Medical Equipment’s productivity factor in ultrasound is 36 % in last three years due to more and more Break downs maintenance and Planned preventive maintenance occurred which is not good for productivity, life of equipment. Step should be taken in early stage of breakdowns. 5. Productivity factor in CT scan is 38 % previous three years, because of less BDM but more PPM. 6. Overall equipment effectiveness of Ultrasound is 38.90, it means equipment is in poor condition and unlimited break downs, more failures occurred. Require proper testing, calibrations, changeovers parts, adjustments. It will contribute to increase in effectiveness in rarely manner. 7. OEE of CT scan is 72 %, it is mean that equipment is in good condition because of breakdowns and failures are limited. In occasionally testing and commissioning, inspection is requiring. It will mostly increase effectiveness in rapid manner.

8. It will increase productivity & It will maintain overall equipment effectiveness.

9. Lastly, it will assist clinical engineers to make decision on need basis of particular equipment or replacement.

REFERENCES:

Albert H.C Tsang (2002). -Strategic dimension of maintenance management-, Journal of Quality in maintenance Engineering, Vol. 8, No. 1, pp. 127-139. A.C., Marquez, Jatinder N.D.G. (2006). -Contemporary maintenance management: process, frame work and supporting pillars-, the international Journal of Management Science, No. 34, pp.313-326. Atkin, B. and Brooks, A. (2009). -Total Facilities Management-, 3rd edition, Wiley-Blackwell, Oxford and New York, pp. 328.

Acevedo, Francisco (2005), -Design of CMMS for the Chilean Naval Hospital BME Department-, Engineering in Medicine and Biology 27th Annual Conference IEEE, shanghai, China pp. 1-4

B.S. Dhillion, Y.Liu (2006),-Human error in maintenance review-, Journal of Quality in Maintenance Engineering Vol.12, No.1, pp.21-36.

Bronizo, Joseph D. (2006). -The Biomedical Engineering Handbook, Third Edition-.

Corder, A.S (1976), -Maintenance Management Techniques-, McGraw-Hill UK, England.

Duffa, S.O., A.Rauof, Campbell, J.D (1999), Library of Congress Cataloging-in- Publication, Volume 20, pp 30-44.

J.J. Smit , J.A van Weelderen, .(1995), – Maintenance Diagnosis of HV installations using an expert support system-, Proceeding 9th ISH, International Symposium on H.V. Engineering, Graz, Austria, pp. 45-56.

Levitt, J. (1997), -The Handbook of Maintenance Management-, Industrial Press Inc, New York, NY.

Niebel, B. W. (1993). -Engineering Maintenance- Ninth Edition. United States of America: Irwin. pp. 335-462.

Mark C.,Eti,S.O.T Ogaji, S.D. Probert (2006). -Strategies Maintenance Management in Nigerian Industries-, Journal of Applied Energy, No. 83, pp. 211-227.

Marvin Raushad, (1998), -Reliability Centered Maintenance-, Reliability Engineering and System Safety, vol. 60, pp.121-132.

Swanson, L., (1997), -An empirical study of the relationship between production technology and maintenance Management-, International Journal of production economics No. 53, pp. 191-207.

Shamsuddin, A., Masjuki, H., Zahiri, (2004), -State of Implementation of TPM in SMIs: a survey study in Malaysia-, Journal of Quality in Maintenance Engineering, vo1 10 No.2, pp. 93-106.

Sherwin, D. (2000), -A review of overall models for maintenance management, Journal of Quality in Maintenance Engineering-, Vol.6 No.3, pp. 138-164.

Stephen, M.P (2004), -Productivity and Reliability- Based Maintenance Management-, Pearson Education Inc., New Jersey, New York, pp.276.

Ted Cohen, (2003) -Computerized Maintenance Management Systems for Clinical Engineering-, Second Edition, AAMI MIR no. 3, pp. 7-10.

Vukan Polimac, Jelica Polimac, (2001) -Assessment of Present Maintenance Practices and Future Trends-, Transmission and Distribution Conference and Exposition, pp.891-894.

Valma J Robertson, Kerry Gbaker (2001), -A review of Therapeutic Ultrasound: Effectiveness Studies-, Volume 81, No. 7.pp. 12-20

Yusof, M, Bakri Rugayah, Musa Zaharah (2006), -Electrical Impedance Tomography-. Health Technology Assessment section, Medical Development section, Ministry of Health, Malaysia, Technology report, pp. 1-6.

Wilhelm Burger and Mark J. Burger (2007), -Digital Image Processing: An Algorithmic Approach Using Java-, Spinger, Volume 30 No 1, pp. 10-18.

Wireman,T.,(1991), -Total Productive Maintenance- , an America Approach, Industrial Press, NewYork. PP. 16-21.

Lead Management Process-why It Is Necessary

Business Management blogger

Lead management system is an automated process which has different co related functionality which is relevant for the concept of automated business management.

In business terminology lead is considered as unit prospect and in this way lead management is the other name of prospect management.

Prospect of a company depends on its business nature; in case of an insurance company the prospects are insurance leads, in case of debt settlement company Debt Settlement Leads are the unit prospects and so on. How these prospects are genetared and how these prospects are professionally handled is decided by lead managing system.

Therefore lead managing system although serves same purpose in all business units, it may work in different ways as per the requirement and coordination level. Modern lead generation system is not a manual process, it is managed and handles by specific software and it is termed as lead management software.

In general lead managing system is made of four integrated processes like lead generation system, lead filtration process, lead tracking system and lead nurturing process. These four process although seems to be separate but in reality they are intermingled together. Lead generation process is the first step wherefrom unit prospects or leads are generated. Automated software collects all these leads and incorporates them into the existing data base.

Lead filtration is the next process where the leads are categorized by its priority level and according to this categorization these are distributed for further processing which is sales process.

The leads which get matured by sales approach these are taken into account of matured prospects and nor being nurtured by lead management process for enhancing customer care relationship. Those leads are not instantly closed, are taken into the process of lead tracking system. This automated tracking system tracks the leads and follow the sales leads which are nearly to close or will be closed within short while. The leads which are not matured by simple tracking system are taken under lead nurturing process and relevant follow up in terms of professional communication starts commencing.

By lead nurturing process when any lead functions as new prospect it leads to lead generation process. When a lead is filtrate, it is analyzed from the point of its potential and it helps in providing input in the CRM policy of the company. Lead tracking process helps in 3-fold ways. In one dimension it helps in closing sales, in second phase, it initiates generation of new prospects, and by tracking process it tend to strengthen customer care process thus supports CRM policy planning.

Automated lead managing system works as great automated impetus for sales force automation process. In manual process there is chance for having error where as through automated system hardly any chance of error can come up in the lead management process.

Right implementation of lead managing system reduces the chance of fraudulent activities with existing data; on the other hand, it enhances security and data management system of a business unit and abruptly reduces the chance interference of any unauthorized individual from accessing the existing data base of the company.

Benefits of Management Training and how to grow your business knowledge

Business Management blogger

Perfection comes only after practise and practise is very first thing required for the growth and to speed up whatever is desired. Therefore to achieve success in each and every field of training plays an important role in overall development. Were importance of training is on high level therefore training has high points in business too. Training is not only essential for getting technical employees but it also leads to have mark up on talent of the trainee too. Business is considered to be science as well as arts. Business being science works on certain formulas and concepts that are required to be grasped on priority basis by all its members. On other hand business is regarded as an art which in itself requires creativity, alertness, innovation and more important logical understanding. For the improvement and generation of all this points at high level several training are required on priority basis.

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Business management training is a way to provide the employees and its working unit knowledge and understanding of the business and its strategy of working. Business management training includes in it every aspect starting from planning, execution, controlling, and understanding, working and commanding. Training is provided with the educational session for a better understanding. Under the training knowledge regarding maintenance of inventory that includes calculation of MOQ. It also includes deciding about the method of calculation of inventory whether to use FIFO (first in first out), LIFO (last in last out) or Average method. Training the individual about the strategy which should be adopted in various unfortunate circumstances of business. Management Training includes all the aspects which provide helpful hand in making the vision and mission of the management unit from strong to strongest point. Management training is all about providing the candidate with best training so that the individual talent gets boost up well.

With the changing scenario as all the things are now available just on one click in same manner training is also available. Just one click is recommended to online scenario. Now the management and business training is available online. Under online training individual gets non comparable benefits of it. With the help of online training now the trainee is not required to disturb its busy schedule. Even the more beneficial thing is online management training is available without paying any cost. Many training institute provide online free training and classes for helping the desired category. Choosing online training will help the individual in studying at the time when feel convenient. Formality of getting registered is not also and not required in many cases. Quick completion of the training is also a plus point while you choose online training. As with this option training course gets completed in few weeks. Some of the training programs also provide facility of providing individual certificate on the completion of each lesson along with the certificate on full completion of course.

All what can be said about the importance of training is that it will lead you with the power to analyse the situations better and gives a development factor to the educational program.

Management Training provided best way to employees and its working unit knowledge and understanding of the business and its strategy of working .