Be open to any feedback: It’s a two way street. Maintaining an open mind regarding other’s opinions is very important in effective people management. If you can show that you are approachable and receptive, you establish that you value your co-worker’s views, your ideas will be valued in the same way. Welcoming open conversation in addition opens doors to creative problem solving, ways of achieving the goals of the team, and develops the bonds of an excellent team. By giving the team an input, every member takes an interest in the project’s outcome.

Communicating is the key: Managing staff comes down to the same thing – communication. Maintaining an open door policy, use listening skills, be open-minded, and give each of your staff a chance to speak. Inspire team members not just to speak with you, but also with each other. The growth of a business relies a great deal on the open exchange of opinions, and through listening to one another, it is easy to find any issues before they present a problem, and corrections may be applied before things get out of hand.

A little time and effort will be required, however the rewards are worth it. By building the bonds of a good team and developing good listening techniques, a flourishing business will be accomplished.

The new address at Minto Commercial Park in suite 1, which boasts of a more expansive office space with modern training facilities, allows the company to target the needs of its customers across the world and back home in the UK.

Mr George Watson, Managing director of Icorr revealed that the new headquarters have been planned and designed keeping the future in mind. Watson also declared that the move to shift to a location with more modern and open space would be favourable to stimulate growth. Click on office planning for a solution to all your office accommodation needs and to maximise your office space.

The new offices occupy more than double the space than its previous office in Altens at Greenwell Road. Spanning about 17,000 sq ft and three floors, the new office space also houses a workshop and a concrete yard to aid technology development and research for the company.

Watson said that the new workshop space would allow a staff of 100 to work towards providing sustainable solutions for the corrosion and inspection services that Icorr provides to its clients.

Besides the headquarters at Aberdeen, Icorr also has presence in Perth, Arlesford, Benelux, Houston, Kuala Lampur, and Baku. The company employs about 200 people worldwide.

Internet conference calling permit executives to speak with others wirelessly in a appointment in another city, on a distant coast or even more significantly in an overseas country. Typical Internet conferencing employ state of the art networking technology. Because that they are delivered over the net, they only better utilize no additional company outlays. Just from going to the Internet, can a business person make a overseas conference from literally any locale with Internet access. Not only is it easy as a computer and an Internet connection, it can save travel costs thousands.

Break throughs in communications technology make web conferencing possible for executives to give and receive information and presentations at the same time. Web conference attendees can see and hear as though they were in the same room, even if they are on the other side of the earth. The accuracy of the audio, video and presentation can be without flaw given the top in streaming video.

Obviously most businesses can cut costs by switching to Internet conference calls rather than blowing thousands sending an executive on a costly trip. A business doesnt have to throw away money on transportation costs, hotels and meals. These trimmings can amount to thousands. Any trip not taken is more profit for a company. Its commonly known that many businesses are opting for Internet conference calls to slash budgets on needless sales journeys.

Every once in awhile a great business deal comes along and I am very sorry that I missed it if I have not joined in. I think it must have been in the late 1980’s or early 1990’s that there was just such a program. All it took was a one time start up fee that was next to nothing and you stood the chance to make a lot of money. Today it seems like that deal is in email mailing lists. I so often will get emails that I am told if I open will put change immediately in someone else’s pocket.

Just to recap, tools used in the IMPROVE Phase are listed below. In this article, I will cover the tools in bold:

Brainstorming of action / solution | Selection Grid | Benchmarking | Cost-Benefit Analysis| Control lot and testing | Pilot the action / solution | Force-Field Analysis | Prevention Planner

Problem with Control Lot and Testing

It is quite a challenge to use this tool not the tool itself but the planning go with it when need to run a control lot. First of all, the team need to consider several issues namely; Size of the control lot, duration of run, what parameter need to confirm, who will be involved, when to run it? Which shift to run it, and how is data to be collected. Due to lack of experience, the team struggle with it

I had a case where the team needs to confirm 4 process parameters. When the control lot is in progress, team members set the 4 parameters at the same time then data is collected. At the end of the run, data collected are not useful to make any correlation as they did not provide any pattern.

How to Overcome Control Lot and Testing Problem

Team need to understand the inter-relationship between each of the four parameters and how it influences the coating thickness. By requirement, the team needs to run four control lots for each of the parameter as a variable separately. In another word, the team needs to adjust one parameter setting with the rest the three locked. The idea is to see the effect of one parameter to the thickness by turn.

Problem with Pilot the action / solution

During the case of coating thickness, the team has confirmed the various setting after the control lot run. During the pilot run, team run into trouble even though all the four parameter wee set according to the new requirements. Production supervisor may over react and set the four parameters back to the old setting. It did not help either. As a result, reject for coating thickness increased dramatically.

How to Overcome Pilot the action / solution Problem

When conducting the pilot run, team member must be around to work with the production supervisor to give him confidence about the new settings. When things might go wrong, team members need to verify other process parameters before any change to the control lot parameter are changed. Team members need to explain to the production supervisor that process parameters are sensitive to influence the outcome of the product. Therefore, all process parameters must be set in accordance to standards.

In summary, to minimise problem arising from changes to proicess parameters, communication play an important role. A briefing to the objective of the pilot would help to munimise surprise not only to the production staffs, also to the team members. Now that the solution seem working alright, the team should move into the the CONTROL PHASE which will be my next article.

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* Meet emergency expenses
* Pay suppliers early to take advantage of early-payment discounts
* Take on time-sensitive new projects
* Expand your business more quickly
* Pay for costly advertising that will bring in more sales
* Beef up your business prior to crucial time points

Invoice discounting involves finding a company that will purchase your accounts payable at a discount that depends on the length of your payment window. The discount generally ranges from about 1.5% to 5% for every ten days until payment is due, with the lower discount percentages going to the most creditworthy of the companies that owe you money. Your company’s creditworthiness has no bearing on this sale. And with invoice discounting, you can sell part or all of any reasonably creditworthy debt.

You can either sell your invoices on a notification basis which means the company that purchases your invoice also collects on it or you can work out terms with the company purchasing your invoices on a self-collect. The difference is when it’s a notification sale, your debtors will pay the invoice discounting company directly. If you collect debts yourself and then forward to the invoice discounting company, your customers will never know that you sold their invoices to another company. It is easier to sell invoices on a notification basis because the invoice discounting company knows, this way they will get their money back in a timely fashion.

The main advantage of selling invoices on a notification basis is that the factor, or invoice discounting company, is then responsible for collecting the debt and assumes all the credit risk. The factor is often a broker, not the company purchasing your invoices. Using invoice discounting on a regular basis to fund your company can eliminate the need for staffing a credit and collection department, which equals another saving for you.

Other Ways to Use Invoice Discounting

If you establish an ongoing relationship with an invoice discounting company, you can even establish the equivalent of a line of credit based on your invoices. Instead of using all the funds forwarded to you in payment for your invoice, you take what you need and leave the rest with the invoice discounting company. The discounting company allows your account to accrue interest, and you can draw on the account as you need cash.

If you’re not ready to sell invoices outright, you can try using accounts receivable as collateral for a loan. This involves getting a bank to accept both your credit and your debtors’ credit, and then collecting cash equal to at least half and up to ninety percent of your accounts receivable. This is a little cheaper than invoice discounting, but it can also be both slower and less flexible.

Henry Byers, Invoice Discounting advisor – focusing on Factoring Receivables and Factoring Services