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SigmaWay Blog tries to aggregate original and third party content for the site users. It caters to articles on Process Improvement, Lean Six Sigma, Analytics, Market Intelligence, Training ,IT Services and industries which SigmaWay caters to

Financial Analysis in Businesses

Financial analysis s beneficial for businesses in the following ways: • Cutting costs: Financial data relating to investments and cash flows are analysed. • Making investments: Financial analysis helps in predicting the returns from investments, thereby enabling the companies to go for profitable investments only. • Forecasting the future: The future of the company can also be forecasted. • Following business trends: Financial analysis relies upon the current business trends and success rates of businesses in the sector. Such analysis helps in recovering faster in case the market suddenly drops. • Management: Financial management is also tracked by the financial analysts which helps in increasing efficiency overtime. Read more at: https://bigdataanalyticsnews.com/big-data-improve-ecommerce-for-businesses-customers/

 

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Traits that can help in transforming engineers to IT leaders

Software engineers and developers often make great IT leaders. They are tech savvy, are updated with latest market trends and have the trust of the IT team. Have IT leaders in team bridges the gap between the management and your IT team. IT leader will be a person who understands both aspects of the business. So what does it takes to become a great It leader- Team building skills; Networking skills; Talent hunting skills; Smart business skills; Good communication skills; Technical skills. Read the complete article here: http://www.computerworld.in/feature/6-traits-engineers-need-succeed-it-leaders

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The thick and thins of the Result only work environment

ROWE stands for “Results Only Work Environment and it was created by Cali Ressler and Jody Thompson for the purpose to focus more on the qualitative approach than the quantitative one. The method is commonly used in USA and the white house has also witnessed the action of ROWE. The process claims for a flexible work environment and gives an added benefit for increasing the profit of a business and by reducing the cost as well. The pros for the process include the freedom to work and the self dependency of one individual. The cost saving process starts off when one works back at home giving the same efficiency as that of an employee working in office. The performance level is same or even more if compared for this process. The cons include the slackers and the inability of the management to continuously evaluate the employees. The direct communication is considered one of the best to improve business. ROWE is a solution for the existing workforce and for the ones in the mere future which will get more advanced through innovation.

Read more at: 

 http://www.business2community.com/human-resources/pros-and-cons-of-a-results-only-work-environment-rowe-01269975

 

 

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Self Management: A Change in Management?

In Gary Hamel's book, The Future of Management, “Self Management” was described innovative efforts to enable employees to define their own jobs and shape their work at companies

Self Management is not a new concept in management, but not a widely used concept. It has been there since long. Many big companies like Taco Bell, Google, Whole Foods Market, W. L. Gore & Associates, Inc., etc have applied this concept and yielded great results like:

  • Increase in productivity
  • Motivation of employees

Making Innovation Everyone’s Job” has been the motto of this concept. This concept has now again come into picture with Zappos, trying to apply it in its organization culture. Resistance is there, but will Zappos get the same results like Taco Bell did or will it not be able to sustain this concept in its organization for long- this only time will tell.

But, after being brought into spotlight again, this concept surely reminds managers a different way of managing things, that was thought to be lost in oblivion.

To know more about this concept and its benefits, please read the following article by Professor James Heskett at HBS Working Knowledge:

http://hbswk.hbs.edu/item/7531.html

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The impact of big data analytics on Enterprise Performance Management

Enterprise Performance Management or commonly known EPM is a management field of Business Performance Management which considers the visibility of operations in a closed-loop model across all facets of the enterprise. 

Nowadays, big data analytics is helping EPM in factoring a lot more unstructured data than what was possible earlier, along with duly capturing customer sentiments and feedback. A second key impact of Big Data on EPM is that analytics will be a function not restricted to the IT team, but the wider organization will be able to deconstruct data with the use of easy-to-use analytics tools.

To read more, Visit the following link:

http://www.informationweek.in/informationweek/perspective/287755/impact-analytics-enterprise-performance-management

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