5 Inventions that Changed the Business World

Decades ago, people used to do business in a more personal way.  Going from door to door to sell and promote.  Mailing was done by sending a person or pigeon to convey a message or parcel.  Individuals had to work harder and took longer to complete jobs.  The advent of electricity, computer, telephone, automobile, etc. made life and business easier to handle.

Electricity
It plays a major role in our professional as well as daily life.  We rely on electricity for almost every task, from transportation to banking.  This invention was vital to the creation of phones, computers and the internet.  We can now have light anytime at home, or at work.  Offices can have set temperatures using AC and Heaters.  We are able to run computers, fax machines and printers due to it.  We use projectors for presentation too.  Thanks to electricity, people have been able to create new products that make most tasks much simpler.

Steam Engines
This is a heat engine that performs mechanical work using steam as its working fluid.  Prior to the invention of the steam engine, everything was usually made by hand, but due to this invention the industrial revolution was able to happen.  Industry would not be the way it is now without it.  We use Steam Engines as Piston Engines, High Pressure Engines, Turbine Engines and Marine Engines. The creation of factories and transportation as we know today was done due to the Steam Engine.  Industries like mining, farming and manufacturing changed fundamentally.  Trading was massively improved due to the usage of locomotive canal systems and port systems.  Production lines involving mass production were developed after this invention.  Basically Industry we know today exists as a result of the creation of Steam Engine.

Computers
This invention impacted business greatly and increased business opportunities for everyone.  People are able to work faster and more efficiently by using computers.  It is utilized for innumerable tasks in almost every industry.  Laptops now allow for mobile use. People can travel anywhere in the world and do their work on their laptop remotely.  They can store all their information and have computing power wherever they are.

Internet
It is a global interconnected network system.  Internet gives you access to information from all over the world.  It provides the infrastructure for supporting email and networks to share files and other applications.  These days, no one can imagine business without using internet.  Applications can connect people globally and allow them share information in an instant.  People are now also aware of events happening worldwide as a result. Businessmen can access their company resources through it, from anywhere in the world.

Telephones/Cellular phones
It makes communication easier in business as well daily life.  Landline phones are connected by wires to a Telephone Network, while cellular phones are portable and communicate with the telephone network by radio transmission.  Employees can now remain in contact with the main office and work efficiently and productively whether they are at home, travelling or working on other sites.  Employees can join meetings even when they are away from the office.  Smartphones have the facility to support teleconferencing (video and Web conferences via the internet).  Employees can access all information via internet on their mobile phone and collaborate with colleagues.

Use all inventions worth while!

 

U. Lakhia | DBPC Blog

3 Mandates Every Employer Should Follow

Job seekers tend to do a lot of research into what employers want from them, but few put as much time into thinking about what they should expect from their employers.  Below is a list of mandates that any good employer should follow in order to function well as an organization and maintain the loyalty of their workers.

Ensure their health and safety

Many seem to assume that this mandate is only relevant to companies asking their employees to perform physical tasks, but this can easily apply to a typical office setting as well.  Saddling your employees with unrealistic goals or huge workloads can take a heavily toll on their mental and physical health when the long hours they spend trying to meet unreasonable targets start to add up.  So make sure that both their physical and mental wellbeing are taken into account when developing work policies and assigning tasks.

Create opportunities for your employees to grow

Without room to be fully utilize their skillset and climb the corporate ladder, employees will inevitably become bored or dissatisfied.  Employers should take the time to provide them with chances to expand their workers’ knowledge and entrust them with new responsibilities and opportunities.   In doing so, the organization will be rewarded with higher rates of worker retention, job satisfaction and a healthier more vibrant office culture as a whole.

Build trust into your hiring and work practices      

As an employer, if you make sure to only hire people you trust to work independently, you will be able to avoid falling into the trap of micromanaging.  Whenever workers are surveyed about company engagement, trust is almost always one of the top most desired traits that workers desire from management.  Strong hiring practices will ensure that you only hire people that fall into that coveted “trusted” category, which will in turn, cultivate better relationships between workers and management.

At the end of the day, companies have a responsibility to make themselves appealing to potential job seekers.  Just as your average job-seeker will spend a great deal of time perfecting their resume and interview skills, companies should work on improving their work culture and streamlining their processes to be, not only more efficient, but also more people-friendly as well.

Lance | DBPC BLOG

Succession Planning in Small Organizations

When we talk about “succession planning”, the first thing that comes to mind is the “seamless process of replacing a top executive when he or she decides to leave the organization”.  However, as business trends change, so does the system.  The procedure is now more inclusive with wider scope.  Aside from exit strategies, it takes into account the (short-term and long-term) stability and sustainability of a company’s human resources plus the individual development of its employees.

Businesses, irrespective of size, legal structure, nature or industry, are always faced with uncertainties – employees or executives leave.  They may reach retirement age, become incapacitated, receive a better position within or outside the company.  Regardless of the reason, the institution must always be ready to fill that void with the right person to ensure continuity of leadership and operations.

There is no prescribed formula in succession planning but here are a few points to consider:

  • Develop and maintain an updated demographic profile of the workforce. This identifies each member’s roles, determines key position(s) that are critical in the short- and long-term operations and recognize personnel with the potential and eligibility to replace or assume other posts.  The data also helps in conducting an analysis of the current office’s collective expertise and what it needs in the future.
  •  Staff development as part of succession planning, requires organizations to provide further training to ensure employees acquire the needed know-how. Equally important is getting the “soft” skills associated with the demands of the job (decision-making, leadership, critical thinking, interpersonal and communication).  Develop programs and coach/mentor them while helping them acclimate to the situation.  This phase likewise involves increasing the scope of their responsibilities and, most importantly, getting the individual participate in the action plan.
  •  Conduct a regular review to re-assess if targets are achieved. If there are changes in goals and/or job requirements, be proactive and make adjustments.  Creating a plan is not enough, it must be updated periodically to reflect the shifting demands of the enterprise and the market.
  •  Select individuals based on competencies and not personalities. Hiring internally is almost always more preferable than contracting out.  However, the pros and cons must be carefully considered.  Regardless of what management decides, it must be communicated to all stakeholders to avoid resentment and confusion.

The success of an enterprise highly depends on its qualifications, knowledge and experience, which are tied to its people.  The moment a staff member walks out, they take with them this valuable asset.  Instead of scrambling and making hasty or uninformed decisions, it is always best to prepare for any eventuality.  Make sure to find the individual who will and can support and complement the company’s vision, values and objectives.

Succession planning is not a one-time event, it is a continuous process – it evolves with your trade and your experiences. It is never too early to start one.  Do it now!

 

Z. Ricafrente | DBPC Blog

Taking Time Away From Your Business

For today’s professional, life is a constant race where we are caught running from task to task and place to place. Whether we like it or not, we become used to the same routines day by day in order to complete our daily tasks. We wake up in the morning, take care of duties at home, arrive at work, complete given assignments, go back home, cook, eat, cuddle and quarrel with our loved ones and finally head to bed. This cycle simply repeats itself all year long where we are often consumed by our restlessness and make it a priority to complete other errands.

According to The 2012 National Study on Balancing Work and Caregiving in Canada, the average employee in a 25, 000 sample size spends 50.2 hours a week on activities related to work, with 54% taking assignments home to be worked on, while 57% indicate high stress levels in the organization. Taking time off from work has therefore become a crucial choice for employees and an attractive benefit for employers, where too few of us truly take time to refocus on ourselves and refresh our souls to once again perform brilliantly when back at work.

Consider 3 significant elements when deciding to take time off:

  • Time:
    The importance of time and scheduling cannot be underestimated. Choose a time frame where your commitments are minimized. Attempt to complete your tasks well in advance for your business to continue smoothly in your absence. Advise clients beforehand and offer them a well thought out external contact option in the case of an emergency.
  • People:
    There are many significant people in your life who have secretly been the backbone to your success. They may be your family, your friends or even coworkers who played a part in some of your accomplishments. Carefully choose who you want to spend your hours and days with. These individuals should bring positivity to the table and more importantly help rejuvenate and motivate you enough to continue your business once your time-off is over.
  • Activity:
    What will satisfy you best during this rest period? Whether it is a day or two off in addition to a long weekend or even a well thought out vacation for two months, put some thought into what activities you want to engage in. Being a parent, you may want to consider something enjoyable for your entire family. As a bachelor or even a couple, you may seek adventure and get lost in some new surroundings. Whatever you choose, put some time into planning your vacation in order to enjoy it to the fullest.

To put it simply, spend some time focusing on yourself while it is available! Think of it as a reward for all the committed hard work put into your professional life!

 

Reference: Revisiting Work-life Issues in Canada: The 2012 National Study on Balancing Work and Caregiving in Canada
http://newsroom.carleton.ca/wp-content/files/2012-National-Work-Long-Summary.pdf