Business Studies

Top 10 Ways to Motivate Your Team

Posted by on Jun 21, 2016 in Business Studies, Management

Top 10 Ways to Motivate Your Team

Most managers and leaders mistakenly think that money is the only motivator for their team or employees. However, according to research conducted by a number of companies, money is usually ranked lower by a majority of employees.

So what are the top 10 best ways to motivate your team?

1. Involve your Team in Decision Making

Most of the team members want to be involved in the ongoing progress and development of their team. Plus, team members always have some great ideas that can bring some significant success to the business. When they are involved, they buy into ideas faster and rarely do they resist. This means you can implement changes more quickly and swiftly.

2. Better Working Conditions

Every person would like to work in an environment that is clean and stimulating. That makes everyone feel good about their job. It isn’t a must that you spend a fortune so that you can make a pleasant working environment. For example, a well resourced and organized office can do wonders for morale (Office Organiser).

3. Communicate

What team members want is a constant update of their performance and the progress of the business. What most leaders and managers think is that employees will always resist on directions you give to them. This is not always the case. Use email, memos, telephone, group and one-on-one meetings to keep your team updated. Regularly talk to your team members, have coffee or lunch with them and let them know if the business is still on track.

4. Encourage Collaboration Within The Team

According to research, at least 30% of employees feel that their leaders appreciate their input. Encourage your team members to participate fully in the group activities, inviting their suggestions and input on how to make things better. Ask them some questions, listen to what they have to say and, if possible, implement their solutions.

5. Celebrate Individual Performance

Identify those people who are doing something right and recognize their excellent performance. You can even provide some positive reinforcement that includes issuing rewards or using a corporate newsletter to acknowledge their achievements. Send congratulatory notes. If your team is part of a bigger organization, have the top senior executive manager make a call or send an email.

6. Set Clear Goals

Most team members waste a lot of time due to lack of clear goals. This is because the lack of clear goals makes the employee not to be sure of what to give priority and what not to. It is the duty of a leader to provide his team with a business plan (Investing Responsibly). Once you provide clear goals, make sure that every member of the team knows exactly what those goals are and what’s their role in achieving them.

7. Do Not Micromanage

No one likes a leader who is constantly over your shoulders monitoring over your every move. In fact, most employees prefer that they would better take activities that are unpleasant than sit next to a micromanaging boss. It is incredibly destructive. Provide your team with some clear goals and give them the opportunity to figure out the best way to achieve them.

8. Offer Opportunities For Self Development

The members of your team will be even more valuable both to themselves and the organization if you provide them with an opportunity to learn new skills continuously. Provide your team with training about their careers and let them learn about the latest technologies.

9. Manage Poor Performance

Most leaders are afraid to address poor performance because they fear it might bring some conflict. Instead, most of them hope that the mistake will rectify itself over a period of time. It never does. A blind approach of ignoring poor performance eventually affects the profitability of the organization as a whole, contributes to low morale in the workplace and leads to high turnover.

While solving conflicts and poor performance are not always enjoyable to deal with, you are the leader, and it is your responsibility. Find the best way to deal with it.

10. Avoid Meetings That are Uncalled for

Meetings can be an incredible waste of time. It is said that the average profession wastes almost 4 hours every week in unproductive meetings. Create an agenda for the meeting you want to hold early in advance and distribute it among your members. Only invite those people who are necessary to attend the meeting. Start it on time and end it as quickly as you can.

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Online Bachelor of Business Majors

Posted by on Jun 21, 2016 in Business Studies

Online Bachelor of Business Majors

When it comes to online Bachelor of Business Majors compared to conventional college courses, requiring campus attendance, increasing demand is causing change. Specific colleges and universities throughout the world are noted for their strengths, with respect to their individual notoriety in certain specialized fields of study. The most highly recognized fields for many Popular sources for conventional Bachelor of Business degrees are now offered online as an alternative to attending live classes, for many of the top rated schools.

Increased emphasis is being placed on the importance for top rated educational offerings from the world’s highest ranking schools to be made more readily available on the internet. Some of the most common online Bachelor of Business majors are Accounting, Economics, Business Administration and International Business. These are only a few of the wide variety of majors available, via the internet, from a vast selection of colleges and universities.


As a major, common careers associated with Accounting are Accountant, Corporate Financial Officer, Financial Analyst and Budget Analyst. With a number of programs offered online, the field of Accounting continues to offer many traditional roles in the workplace. As well as those commonly recognized occupations, more innovative types of careers, driven through emphasis on more accurate and specific procedures for reporting and analyzing, are increasing in demand. With most programs closely mirroring the traditional classroom curriculum, with respect to required courses, the flexibility for those currently involved in accounting related fields wishing to complete a degree is on the rise. Mathematical ability is a perfect skill-set for those interested in this major.


Top careers involving Economics as a major include banking and government related positions involving the thinking processes behind theories of economics. Research analysts, who rely on strong background in economic theories and the inter-workings of economic systems, are a prime example of potential job titles. Banking and Financial Service Analysts and Auditing as well as Finance related consulting and Statistics are also common choices for the Bachelor’s program. Problem solving and strong mathematical skills are a plus for most wishing to venture into the field of Economics.

Business Administration

For this more “broad based” area of study, occupations vary widely (Online Study America). Careers often include retail management options, administration options, retail entry level, marketing and many entry level occupations requiring a basic overall concept of business practices and relationships required to conduct business on a daily basis. Those wishing to develop their own business are a natural fit for the Administration major, due to the necessity to understand general aspects of commonly conducted business procedures and practices. Entrepreneurial types needing a strong foundation on which to custom build their own company find this major a natural match. Organizational skill-sets are considered to be a help with studies in this major.

International Business

With a major in International Business, job options will mostly be in the areas of the relationships of people and natural resources with respect to the international communities. In other words, most general aspects of business conducted in an international format. Financial Analysts who may specialize in various currencies are one avenue for the major while most aspects of production, the economy as well as finance will fit through the category of international focus. Government jobs centering on multi-national interaction, currency exchanges, even the broad-stroke categories of business administration, with an international twist, would be a comfortable starting position for those from this major. Organizational skills and any specialized mathematical and accounting focus designed to cover different countries and their interactions would be most helpful.

Established Accreditation

Although it may cost more to earn an online business degree from a commonly known and recognizably accredited organization, the barriers it will overcome are often worth it. Unfortunately, for some lesser known online programs which are actually accepted by experts as some of the best, the smart money from most hiring businesses seems to remain on the names they can easily verify as trusted. Sadly, the best credentials may be a matter of being only those which are more popular and widely known by those scanning through resume’s and job applications.

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As opposed to studying and earning a degree which carries limited endorsement, which may only help with the career seeking cause in a minor way, when the brand is comfortable and familiar, as with everything in society, a level of conformity is awarded. If a potential employer requires extra time researching the academic credentials of a job candidate, the applicant has established their case for hire as a “higher maintenance” potential employee.

Unfortunately many candidate sorters may have lost the romance for identifying uniquely educated individuals after only a few thousand names into their careers as talent hunters. In truth that position has evolved into more of a “easy grab” than a “hunt” based on numerous available job candidates with extremely popular prestigious degrees. When it comes to the selection process of virtually all reliable employers, ease of verification is crucial in gaining the competitive edge.

With so many people seeking employment for top positions, and fewer quality jobs open a hiring manager or firm will customarily try and “short stack” the list of applicants. Those lesser known educational “brands” will more often than not end up in the pile of paper not usually associated with “main stream” education. In a technical society driven by ease due to invention, where “less is more”, this is the exception to the rule. More means more when it comes to academic credentials.

Multiple Options

There are many choices when it comes to online Bachelor of Business Majors (Just Business Today). Some of the options may seem “to good to be true”, and for the most part those are the ones which are the least recognizable and lowest accredited in many cases. There are, of course exceptions to the rule and some of the lesser known programs are “stand outs”, which have not fully been celebrated based on their merit and remain a victim of their lack of popularity. If these online options where in business and operating with a voice to express their disgust for being overlooked their motto would without question be “it is not what you know but who you know”, reflecting their stereotypical dilemma of being more “trendy” than trend.

Required Further Education

For those who are already employed in a position in which they feel secure and adding an online Business degree is only a matter of checking a box on a “to do” list for their employer, then virtually any piece of paper acceptable to fill the bill will suffice. The key to deciding whether to try and increase long term marketability, planning for the worst by preparing the best, would be simply a matter of comfort with the current employment situation. As with most areas in the business world, the only constant is considered to be change, and planning accordingly might be a logical decision.

Those Who Genuinely Thirst

As with every segment in life, there are those who have their potential challenged by simply maintaining the status quo and others who feel the desire to excel through an innate drive for learning. For those experiencing a genuine thirst for knowledge, there is no substitute for systematically deciding which online courses would provide the best experience and the highest level of challenge. Even though it may be the hardest choice to take the most challenging online courses, those who are driven by personal achievement and overall self improvement will always take the path less traveled. The true thirst for knowledge is not normally an acquired taste, but rather one which burns deeply from within.

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Leading Australian Business Schools

Posted by on Jun 20, 2016 in Business Studies

Leading Australian Business Schools

Australia has many of the top business schools in the Asia-Pacific region according to a study conducted in 2015. The country also ranked high among the most preferred destinations for students wishing to pursue business courses around the world.

  • In the 2015 rankings, 12 of the top 30 business schools from the Asia and Pacific region came from Australia, which is roughly 40% of the total number of schools ranked.
  • Australia also supports several major cities that are popular study destinations (Student Cities Australia).

Here is a look at the leading Australian business schools

College of Business and Economics, Australia National University

Located in Canberra, the College of Business and Economics at ANU is heavily tilted toward research and development. Over the years, its scope has expanded to include a number of departments. All are dedicated to addressing the current business needs of modern entrepreneurs and aspiring students.

At the moment, the school boasts 6 areas of study, and the two most popular ones are actuarial science and statistics. The areas are packed with students looking for fresh ideas to apply to business. The approach from the school is geared toward addressing the challenges of the modern business environment. This is achieved while still inculcating the concepts of days-gone-by in a bid to strike an academic balance.

The school continues to focus on research and has 4 schools dedicated solely to that. Their research ideologies are progressive and provide a fresh look at the study of business in an environment that is drastically changing. The school offers a mix of solutions that bridge the past with the present and offer a look at the future. This kind of research is instrumental in preparing learners for the organisational demands of the business world.

Melbourne Business School, University of Melbourne

This school remains one of the most progressive. Its business courses offer practical concepts consistently throughout the stay of students within the institution. It also looks at the life they embark upon after finishing their studies.

MBS made history way back in 1965 when it became the first institution to bequeath learners with an MBA in Australia. The feat effectively established the school as one of the hardest hitters when it came to setting academic and developmental milestones.

  • MSB has an interesting take on the Australian financial and entrepreneurial landscape.
  • It uses its multi-pronged outlook to boost creativity and industry among its students.

Monash Business School, Monash University

One of the most outstanding aspects of the Monash Business School is its stringent set of requirements. In most cases, students are required to have a prior working experience of 3 years before they even set foot in the door. This effectively locks out beginners. It also ensures that those who register for courses are able to relate what they observed in the outside world to what they learn at school.

Students from Monash are trained to succeed. They are also taught to be leaders in setting standards and finding practical solutions to problems within the current business environment and prevailing set of dynamics.

Sydney Business School, University of Wollongong

SBS has been for a long time known as an institution that seizes the initiative. It is known for partnering with organisations from around the world to create development roadmaps. The school receives high course ratings for business courses, especially the MBA program (Good Universities). As well as traditional MBA classes, it awards specialist master’s degrees.

SBS is a proud signatory to the Principles for Responsible Management Education, which is spearheaded by the UN.

Graduate School of Business and Law

The Graduate School of Business and Law (RMIT) oversaw an extensive renovation project that cost US$18 million in 2010. The school has a long and decorated history. It started out small and made a name for itself in academic circles, rising from the bottom towards the top in a short time.


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How to Manage Underperformance

Posted by on Jun 20, 2016 in Business Studies, Management

How to Manage Underperformance

One of the greatest challenges an organization often faces is that of underperforming employees. There’s no need to let this problem reach the point that it would affect the overall performance of the company.

Always make sure that the team members are aware of their role and where they stand in the organization. The important factors should always be under control, and encouraging everyone in the company is one of the strategies that should never be ignored. Multiple important business principles go into effective performance management (Flight Line CCC).

Here is further detail on some of the most effective ways on how to head off or manage an underperformance problem.

1. Clear Expectations and Job-Employee Matching

One of the best ways on how to manage underperformance is by having a clear outline of what the job entails. For example, during the hiring process, the issue of underperformance can be resolved by creating job requirements that are as clear as possible, to avoid confusion.

Exact job specifications don’t only assist in the hiring process by thoroughly screening the candidates and evaluating their skills, but they also allow the interviewer to document the expectations of the company. This would avoid any confusion in the long run, and have the guarantee that the applicant, turned employee, would have a full knowledge of what the job entails.

2. Performance Reviews

More often than not, underperforming employees aren’t even aware that they fail to meet the expectations of the manager. For that reason, performance reviews should be carried out on a regular, periodic basis. This is very helpful in determining if the employee is underperforming, allowing management to fix the problem right away.

However, this should not be treated as something similar to a “report card.” Instead, it’s more of a two-way dialogue and continuous process that could help an employee improve his performance (Best Management Articles).

The following questions should be asked:

  • In your opinion, what do you think the expectations of the company are?
  • Are you meeting these expectations? What are the areas that you fail to focus on?
  • Do you have any issues with the company that’s causing your underperformance? How can it be resolved?
  • Are there any parts of your job that you cannot handle? What are they.
  • Are you having problems with your coworkers? Does it hinder your performance?

As these problem areas are discussed, as much as possible, stay away from being vague or using generalizations that could be taken personally by the employee. It’s important to talk about the specific problems and necessary actions that can be done in order to correct them.

For underperforming employees, it’s ideal to document the exact performance by determining what should be done in order to resolve the problem. Keep in mind, the ultimate goal is to motivate and empower the employees to become productive members of the company.

3. Offer the Necessary Training

Performance problems can be caused by employees coming to work not fully prepared. A number of factors can contribute to this, such as being hired even without the necessary skills, or it can also be that the job has evolved.

In situations like this, training is very important. The employer is tasked to budget this, provide additional funds when necessary, and specify the kind of training employees need.

4. Mentoring Program

In a mentoring program, employees are matched with skilled professionals that can help the employee acquire more skill and learn the important attitudes needed for the job. Aside from that, a mentor could motivate the employee to strive harder, and grow together with the company.

In fact, a solid mentoring program has the ability of transforming underperformers into stars that could contribute to the company’s success.

5. Promote a Sense of Ownership

In bad work environments, employees go to work just to earn a paycheck – nothing more. There’s no real excitement that they can look forward to. The company doesn’t have a vision nor opportunities that would make them aspire to become an integral part of the company.

Performance reviews, mentoring, and training are just some of the best ways to help an employee consider the job as something important and whatever he/she contributes to the company is valued. This gives a sense of ownership and the mindset that “we’re all in this together.”

6. Let Them Go if Necessary

For employers who don’t believe that their employee has the ability to work effectively within the company, even with full support, it might be the best to just terminate employment. A decision like this should be taken seriously, and clean communication about the performance problem should be done.

Further reading: Australian Fair Work Ombudsman

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MBA Studies to Reach Career Goals

Posted by on May 29, 2016 in Business Studies

MBA Studies to Reach Career Goals

MBA (Master of Business Administration) studies are directed to the development of practical business knowledge in the area of business management. MBA studies should improve your own business using a combination of science and best practice. MBA programs are typically taken by business owners and people who want to make career progress to higher positions and to improve their management skills.

  • Courses combine theoretical and applied education.
  • They are professional training courses suited for experienced workers who may want to study online.

MBA studies are a popular academic program and there are estimated to be over 2,500 different degrees. They were originally introduced into USA universities, and now can be found all around the world.

The usual duration of studies is two years but there are also 1-year fast-tracked programs, which are popular for students who want a study break from work.

Teaching is usually in English, but many institutions outside English speaking areas offer programs in native languages. Areas that can be studied in MBA programs include management, marketing, human resources, e-business and banking. Besides all of these programs, units are also available which aim to develop better teamwork, business communication and leadership. Ultimately, they provide the knowledge needed for various management positions in companies.

Many employees often ask to do business studies directed to: gaining practical and applicable knowledge, reaching a higher position in company management, or improving and developing their company. There are hard skills – those which are needed for performing all that is necessary to successfully do your job – acquired through your education and working experience.

There are also soft skills – those that depend on your abilities in communication, presentation, negotiations – which are linked with your personal development. For example, fitness and wealth programs are a cost-effective way to boost productivity (Performance Body Works). Such opportunities are more easily identified by knowing and communicating with employees.

I must say that, in business relations, communication and flexibility play pivotal roles. If you become a member of a high-positioned management team in some international corporation, no one will give you time to accommodate and fit into the team. You must be prepared for it, and they will probably expect you to be even more effective and proactive than the old members of that team.

MBA studies are one of the most popular academic programs for those talented individuals who are looking for their place in the top management of big business.

It is not essential to have a degree to enroll in an MBA program because of embedded qualifying courses, such as a graduate certificate. However, typically, you must have significant professional experience.

Many top management members stated that only 20% of success is about studying business itself, and 80% is about the personal development of a single talented individual. This is the essential purpose of MBA studies is to bring out your talents and propel you on a path of lifelong learning.

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