What is Management?

Management is different from leadership but just as important. To understand the nature of management, we need to be clear how it differs from leadership. The first step in answering the question: "What is management?" is to understand the basic tasks of all organizations. Like any other species, an organization needs to take care of its immediate business of survival but it also has to evolve to ensure its fitness to cope with changes in the environment and the actions of competing species.

Management is the function that organizes the execution of today's business. Leadership is the evolutionary mechanism that changes organizations to prosper in tomorrow's world. Whenever a species or individual animal runs into obstacles, variations occur and new forms are selected from those variations. Leadership is a risk taking type of action that explores new frontiers and promotes new ways of behaving. It follows that, in a stable environment, good management is all that is needed to prosper; leadership in this context isn't required.

This portrayal is not the popular one where leadership means being the top dog in a group regardless of what's going on in the environment. Also, management has been cast on the rubbish heap since the late 1970's following the initial wave of Japanese commercial success in the West. We wanted a scapegoat for our failure to compete with the Japanese, and management was fingered for this role. Jack Welsh, Tom Peters and other gurus called for more leadership and an end to management, which they saw as stifling innovation. The reality was that a lack of competition created a complacent attitude AND lackluster management. It was the way management was practiced that was the problem, not anything to do with management as a function. We simply needed to upgrade management for a new reality.

What is Management?

Being hierarchical by nature and inclined to worship heroes, we tend to regard the person in charge of our group as a leader. But complexity demands specialization and executives need to perform multiple roles that depend on the unique demands of their situation. If their main function is to maintain quality, low cost and good customer service while motivating employees to perform to their potential, then they are performing the management function, not showing leadership.

Management is like investment. Managers have resources to invest - their own time and talent as well as human and financial resources. The goal or function of management is to get the best return on those resources by getting things done efficiently. This doesn't entail being mechanical. The manager's style is a contextual issue. With highly skilled and self-motivated knowledge workers, the manager can be very empowering. Where the workforce is less skilled or motivated, the manager may need to monitor output more closely. By saying that management is a function, not a type of person or role, we better account for self-managed work teams where no one is in charge. Managemenet simply makes the best use of all resources even when we manage ourselves. Hence management does not necessarily entail a dictatorial, controlling overseer. Skilled managers know how to coach and motivate diverse employees. Getting things done through people is what they do.

The aim of management is to deliver results cost effectively in line with customer expectations and profitably, in the case of commercial organizations. It is not only leaders who can be inspiring. Inspiring leaders move us to change direction while inspiring managers motivate us to work harder.

Management is a vital function thanks to the complexity of modern organizational life. The need to coordinate the input of so many diverse stakeholders, experts and customers requires enormous patience and highly developed facilitative skills. Excellent managers know how to bring the right people together and, by asking the right questions, draw the best solutions out of them. To facilitate well requires managers to work very closely with all relevant stakeholders.

By contrast, the leader can be a bit of an outsider. Like Martin Luther King, Jr. promoting desegregation on buses to the U.S. government from the sidelines, the leader can induce people to change even with no direct involvement or authority over the people who are needed to take the hoped for action.

Managers don't just keep ongoing operations ticking over. They also manage complex projects like making a modern movie or putting the first man on the moon. Leadership is only required to sell the tickets for the journey or to resell it periodically if resistance develops, but management drives the bus to the destination.

What is Management?
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See http://www.lead2xl.com for more articles like this one. Mitch McCrimmon has over 30 years experience in executive assessment and coaching. His latest book, Burn! 7 Leadership Myths in Ashes, 2006, challenges conventional thinking on leadership.

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How to Deal With Poor Management - Top 7 Conflict Management Techniques

So you love your job, but you hate your boss. Join the crowd with millions of other Americans. So, what do you do if you are unfortunate enough to have to learn how to deal with poor management the hard way? It's a difficult situation, and one that you need to assess thoroughly before taking any action. However, here's the best advice that we can provide to you.

1. Document Accurately

Write down issues that are affecting you and your ability to meet your goals in the workplace. Be prepared to present them in a diplomatic, practical way. That is, while your feelings are important, don't rely only on hurt feelings as being the problem. You need to be able to show that the manager's behavior is negatively impacting the performance of the workplace. Also, don't accuse the manager of being one way or another - simply state the facts and how the situations are affecting you and your colleagues.

How to Deal With Poor Management - Top 7 Conflict Management Techniques

2.Remain Objective and Professional

Don't get emotional when preparing your argument, and don't get angry. You need to remain professional throughout the exercise and show that while you are looking out to be certain you are getting the respect you deserve, you are also looking out for the betterment of the company as a whole. This is one of the keys of how to deal with poor management - the betterment of the company. Getting emotional and angry can cause colleagues and upper management to lose respect for you, and can reduce the credibility of your argument.

3. Talk to Your Boss

It's possible he or she is not aware of the behavior that is causing him or her to be a bad boss. Be courageous - many people are afraid to confront a boss, and justifiably so. It takes nerve to confront someone who can make your life miserable, but since they are already doing that, you have little to lose. Ask for a meeting so that you will have time to discuss without interruptions, and have an agenda with notes prepared so that you won't get flustered when it comes time to talk. Have your documents with you. Be brave, and be respectful. If your manager is not aware of any of these things, be understanding, and offer suggestions for improvement and what you need from him or her in order to reach mutual goals. If your boss is aware of his or her behavior and doesn't see a need to change, move on to step 2.

4. Ask for Respect, As Long As You're Worthy

Tell your boss that you expect to be treated respectfully in the workplace, and provide examples of ways in which he or she has treated you disrespectfully. As long as you haven't given your boss any reason to treat you with disrespect, then you deserve to be treated fairly.

5. Continue to Document Problems

Maintain your list of issues that are reoccurring. Eventually, you may have to escalate the situation to someone higher in management as we will see in the next how to deal with poor management tip, and you will need an accurate list of what occurred before and after your talk with the boss. Include dates.

6. Escalate to Upper Management or HR

If the behavior continues after confronting your manager, go to Human Resources, or to upper management, according to company policy. Your company handbook should have a policy to tell you how to report complaints (typically referred to as "conflict resolution" or "grievances"). This is when your documentation comes into play, and it's another reason why it was so important that you spoke to your manager first yourself. It shows that you were professional and mature enough to try to resolve the matter on your own at departmental level.

7. Recognize When It's Time to Leave

Sometimes, the best way we can tell you how to deal with poor management is that you just need to just walk away. There are situations when managers are toxic because the organization itself is toxic, and that's not a situation you are likely to change on your own. There's no shame in taking the high road and walking away, rather than risk letting the negative atmosphere impact other areas of your life, such as your home and family.

How to Deal With Poor Management - Top 7 Conflict Management Techniques
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For more Human Resources education check out our Human Resources Blog, a quickly growing strategic focused HR blog full of excellent professional advice.

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Risk Management - Security - What is It?

Security Risk Management

How can it help me and my business?

Risk management is always evolving and becoming more important in today's climate and in the future.
You may have a small business or large, you may be running a function or other special event.

Risk Management - Security - What is It?

Whatever you are doing and wherever you are, risk is all around you.

Imagine a world or your state without security risk management. Look at your city and take out all of the security systems, key pads, security staff, police, army reserve, insurances, cameras, security barriers, stop lights, car security systems, street lighting, security procedures, banking passwords and codes, doors that lock etc.

What would we have? How would we live without it?

In this brief article, I have an example of risk management, and the importance of excellent security risk management.

When planning it is advised to use a security risk professional

Security risk management in business is all about putting the correct security procedures / polices in place now, and planning for the future.

Think of a flat line

Think of a circle

The flat line represents a business with little or no security risk management.

However, the circle represents complete and comprehensive management, and correct planning for the future.

The flat line is open, venerable, and open to the elements, things can fall off or jump on and there is an end and no future. The line is venerable to poor communication, misunderstanding, security breaches, possible internal theft, and site theft from external sources.

However, the circle is complete, secure and impregnable. It has a future and everything is linked within its own organization. Management and staff are confident and understand the organizations security goals and objectives.

How does your business or upcoming activity compare?

Do you think you may have a flat line, half circle, a circle with a segment still missing, or a complete circle?
How did the flat line work towards becoming a circle?

The flat line found that after a security risk analysis had been conducted, they were inefficient, unsecured, had possible insurance liability issues and they needed immediate change.

The flat line implemented security procedures and polices that managed these identified risks and threats.

In this example, the flat line implemented identification procedures, sign in/out procedures, secure handling and storage of records, communication between various groups and teams, and security audits that would be conducted once per year. The flat line ensured that building security, evacuation procedures, polices, and personal security being internal and external were comprehensive.

Regular meetings were conducted with the groups and teams that focused on security risk management, and associated business risk management.

However, after all of this work it was a square not a circle.

There was no complete flow, and communication still needed some improvement if they were to gain the objective of a complete circle.

How do they achieve a circle?

Through continuing to become familiar with all the procedures and polices, upgrades and security education that have just been put into place.

Continuing to be diligent, motivational, and dedicated to correct and complete security risk management.
Then they found their circle.

Is your organization, relevant department or activity a circle?, why not?

Would you like it to be a secure circle?

Risk Management - Security - What is It?
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David Turner invites you to learn more about security in an easy to understand way by logging on to the Foresight website. http://www.foresight-security.com

I also offer you access to ebooks from our ebook site http://www.teaching-security.com

Our vital and relevant ebooks are created for you now. Learn about Business, Family and Children Security today.

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7 Steps To Developing A Risk Management Plan

Risk is real for any company or organization. Don't kid yourself. Things happen when you least expect them to happen. Are YOU ready for the unimaginable, the unexpected, the unwanted? As an executive, have you put your head in the sand around risk? Do you pretend that all is well, and nothing will change? If so, it's time to face reality: data gets lost, buildings burn, people resign. When any of these occur, your organization is at risk for malfunction, inefficiency, chronic struggle, revenue loss, and even total failure. Is this the path you want to go down?

Beginning now, you can initiate the process of developing your organization's risk management plan. Take charge. Form a committee representing Board members and staff, and ask them to partner with you to create this critical document. Make sure everyone understands the importance of the work, and explain to them how they can benefit from contributing to the finished product. Risk managements plans are not optional; they are essential for every company, large or small. There are no valid exceptions.

Implement the following seven steps, and give yourself and others a huge slice of peace of mind:

7 Steps To Developing A Risk Management Plan

1.  Define what risk looks like for your organization.
What constitutes risk in your shop? Threats to normal operations? Threats or compromises to people's safety? Loss of physical and electronic property? Loss of revenue? Decreased public/community support? Unethical behaviors?   Create a comprehensive definition of risk that means something to YOU and YOUR organization.

2.  Identify specific risks.
Ask the committee to brainstorm as many different risks as they can possibly imagine. Record them on a white board or flip chart. Examples of various risks include: firing of the chief executive, dwindling interest in one of your major products, departmental silos, Board infighting, inability to fundraise, economic downturn, layoffs, building fire, computer crashes, philosophical differences between key employees, extended leaves for managers, interruption in receiving necessary supplies. All of these are potential risks, and there are many others. Continue brainstorming until the group believes they have come up with an exhaustive list.

 3.  Categorize each risk.
Determine category names for the identified risks. Examples may be: Chief Executive, Board of Directors, Physical Property, Technology, Data, Employees, Products or Services, Customers/Clients, Stakeholders,. Place each risk under one of the selected categories. Create as many category names as you need.

4.  Rank each risk according to severity or significance.
Choose headings such as "most severe", "moderately severe", "of minimal concern". You don't have to use these same words for your headings, but be sure that your phrases adequately differentiate between the degrees of seriousness. Perhaps you would like to color code each risk according to its significance heading: red for "most severe"; black for "moderately severe", and green for "of minimal concern". Set it up the way it best works for you and your organization.

5.  Develop strategies for reducing or eliminating each risk.
Begin with the risks under your "most severe" heading. It's critical that you don't delay in thinking through possible solutions for those major issues. Ideally, determine multiple strategies for each risk. Be sure to consider who within the organization is going to be responsible for implementing the various strategies, and the resources needed to implement them. Omitting this information from the plan only causes big problems later.   

6.  Write your plan.
Using all of the above input, shape a readable document. Practicality is paramount here. The plan is worthless if nobody can follow it, interpret it, or actually rely on it as a guide during crisis. After it is compiled, seek feedback from the committee as well as other employees and Board members. Incorporate changes where indicated. Check for evidence of common sense throughout the document. Hold yourself accountable to a high standard around common sense. A pie-in-the-sky risk management plan doesn't serve anyone.

7.  Test some of those strategies in your plan for viability.
Do they work? Can they work? Why or why not? Where are the pitfalls? What steps are missing? Would you benefit from having certain outside experts review your strategies? If so, which types of experts? 

Revisions to the plan may occur annually, as situations arise and your organization lives one or two of the strategies firsthand. Hindsight is often wiser. Don't be afraid to toss some plan content when you know for a fact that this is what you must do. Remember: the plan needs to be current. On a day you least expect it, someone has to grab that document, refer to a particular section in it, and act upon it--fast.

7 Steps To Developing A Risk Management Plan
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Sylvia Hepler, Owner and President of Launching Lives, is an executive coach/advisor based in South Central PA. Her ideal clients are corporate executives, nonprofit executive directors, and business owners who demonstrate commitment to getting unstuck and creating a NEW story for their lives. Ms. Hepler's background includes: teaching, public speaking, retail sales, freelance writing, and executive leadership of a 14 county nonprofit organization. She has a working knowledge of staff supervision, Board development, Quality Management, SWOTT Analysis, the hiring and firing of employees, mission/vision development, networking, and organizational collaboration. Her no nonsense approach coupled with heart yields swift results with most clients.
CONTACT:
Sylvia@launchinglives.biz
717-761-5457

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Essential Elements of a Quality Management System

A good quality management system in a pharmaceutical company can significantly improve the net profit status, high quality medicines for patients, less rework and recall which save more money, good work environment and compliance with local and international regulations.

Quality management is a philosophy. It takes management understanding, commitment and responsibility before introducing and implementing the concept. Once practiced a good quality management system slowly develop or reshape a sustainable organization culture that pays off rapidly.

The initial step of introducing a good quality management into a system is to know the essential elements of the quality system and clear study from where to start. Company objectives should be clearly understood. Policies should be prepared. Then comes the design of the process flow, validating the process, material flow and organization chart. When a good integration between people, process and material is achieved the next step is to putting the integrated system in a state of control. Any deviation from the controlled system must be analysed and corrected.

Essential Elements of a Quality Management System

Some basic but essential elements of Quality Assurance as depicted in GMP guidelines and ISO 9001 guideline for pharmaceutical industry can be listed as: the Preparation of standard operating procedures of a complete system maintaining cGMP principles; Preparation and maintenance of effective change control of quality and master file documentation; Recording and management of manufacturing change control; Recording and reporting procedure of Deviations of your systems; Quality concern investigation process; Customer complaint investigation procedure; Quality audit procedures; Vendor assessment, evaluation and certification procedure; Quality control laboratory procedure, Rework procedures for the defective manufactured products; Procedures on training for manufacturing staffs and recall procedure.

Standard operating procedures and manuals should be written in details and referenced to relevant other documents, so a new starter within the organization should be trained easily and expected to perform as per procedure. The result will be a common standard of activities across the organization, good tractability of work flow, deviations and ease of corrective actions as necessary.

Standard Operating Procedure

You should prepare SOPs, forms, templates and manuals, which can be used immediately as the system runs. Forms and templates should be used for record keeping which your people can follow routinely.

Documentations - Classification, Definition and Approval

Quality and Technical/Master file documents to be created to build up a good quality management system for your manufacturing sites. Definition of documents, their classification, approval requirements and retention requirements should be understood.

Quality Documentation Management and Change Control

Procedures to be created on how to generate new quality documents or change control of existing documents, review of quality documents, satellite file management, role of document author, approver, document control officer and satellite file administrator. In this procedures you will also define the numbering systems of different quality documents like audit files, SOPs, forms, templates, manuals, training files, QA agreements, project files etc and their effective archiving system.

Preparation, Maintenance and Change Control of Master Documents

Procedures to be created which will particularly focus on the management of master file documents like specifications, control methods, raw materials, finished goods and packaging specification and test reports, formulation, stability files etc required to generate during the product registration in the market.

Deviation Report System

It is a regulatory requirement to capture all sorts of deviations evolves in your systems in order to maintain the continuous improvement of your processes and systems. Procedures should be created that describes how to categorize the deviations between production, audit, quality improvements, technical deviations, customer complaints and environmental, health and safety deviations. It should also describes the management responsibilities of initiating deviation, capturing data, analysis, investigation, determination of assignable cause/s, generation of management report and initiatives to be taken on corrective and preventative actions.

Vendor Selection and Evaluation

Procedures to be followed during the vendor assessment and vendor evaluation for purchasing of raw materials, critical and non critical packaging components, laboratory supplies, engineering supplies and imported finished goods from the vendor. These instructions are essential for approving prospective vendor.

Vendor Certification

This procedure aims to describe the process by which a vendor may be certified to supply materials or services. This procedure applies to vendors that supply a material or service to be used at any stage of manufacture by operations. Here you will describe the roles of each department in the process to certify an approved vendor.

Product Complaint Procedure

You should have strong procedure to cover the receipt, logging, evaluation, investigation and reporting system of all complaints received from customers for the marketed products. This procedure should contain step by step instruction to be followed during the customer complaint management like numbering of complaint, registering the complaint, evaluation, determination of assignable cause for the complaint deviation, implementation of corrective and preventative actions, trending of complaints and handling of counterfeit products.

Annual Product Review

Some countries require reports as Annual Product Review to sell your products into their market. So you have to create instructions on how to do annual product review, to evaluate data, trends and to identify any preventative or corrective action that would lead to product quality improvements and report them to management.

Rework Procedure

Procedure should contain the step by step instructions to be followed when the rework of an in-process or completed finished good is required. Product Identification and Traceability The purpose of this procedure is to define the method used for the identification of all contributing materials that could affect product quality and to ensure their full traceability.

GMP Audits

Procedure should be created to describe the process of planning, performing, reporting and follow-up of different audits for your systems like Internal Quality audit, Vendor audit, Environmental Health and Safety (EHS) audit, EHS workplace inspection, Housekeeping audit.

Evaluation of Batch Documentation and Release for Sale

This procedure should describe the process of collection, evaluation and record of batch related document generated during the production of a batch before an authorized person can release the batch for sale.

GMP Training

Effective GMP related training modules to be created for your manufacturing staffs. Training records and reports have to produce on each employee as justified.

Management and Control of Contract Work

There should have procedure to describe the management and control of contract work provided by the contractors for packaging and finished products for your company as well as control of contract works done by your company on behalf of others.

Quality Concern Investigation Process

Procedure should be made that contains instructions to follow when conducting Investigations collection of data and information, analysis, assigning root cause, determine corrective and preventive actions.

Essential Elements of a Quality Management System
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Essential elements of a good quality management system are described in this article for pharmaceutical industry. Check more in Pharmaceutical Quality Procedures

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Monavie Reveal Product Review - Is RVL Healthy Weight Loss Solution A Weight Management System?

In this article we are going to go behind the scenes and find out how the quest for Monavie Reveal got started. You are going to learn what motivated the company to pick weight loss as their next product line that will create more wealth for their distributors and set the company apart from any other company in the world.

Find out what the buzz is all about and what makes this different from the myriad of weight loss programs already he market. Is there really a healthy way to lose weight and keep it off? Does Monavie really have the answer the world has been waiting for? Is RVL healthy weight loss solution a weight management system?

Dr. Bernie Landis, President of the Scientific Advisory Board for Monavie was instrumental in creating the new weight management solution system, Reveal. The whole idea was to create the most innovative and effective system that ever has been brought to the marketplace to help the millions of obese people who are struggling to lose weight and/or eat healthier.

Monavie Reveal Product Review - Is RVL Healthy Weight Loss Solution A Weight Management System?

This will create another explosive wave for Monavie distributors. If you have a community already in place, you get an instant pay raise whenever a new product comes out, because most distributors are going to order the new product, as well as the ones they already order, because they love them and they work.

The company sent out a survey and asked what would be the distributors' preferences for a new product line. Survey says weight loss! Did you know over 77% of Americans are considered obese? That is a huge market share for Monavie distributors to go after.

How did the quest for Reveal get started?

The Monavie scientists scoured the earth in search of the best ingredients. They actually looked at every food, every food ingredient, concentrate, botanicals, and every compound that they thought could possibly play an important role in weight loss.

The goal was to create a system of products that will indeed provide the greatest amount of nutrients with the fewest amount of calories. Sounds like a winner to me. Even people who are not interested in losing weight are going to benefit by drinking this delicious shake or by eating a snack bar.

Instead of drinking sodium-laden canned food or processed lunch meats for lunch, you can treat yourself to a nutritious, delicious shake and/or snack bar. Why drink a can of Ensure, when you can drink something that is actually healthy for you and will taste great?

The System Has Three Components:

A Canister of Delicious Shake Mix

Convenient, Easy to use, mix with water, milk, throw some fruit in for variations

A Delicious Nutritious Snack Bar

A fruity, chewy bar with yogurt coating

A Dietary Supplement

Concentrated to provide greatest nutrient density

Ultra-concentration of the foods that were found to be the most beneficial in achieving and maintaining healthy weight long-term

Basically out of all the studies already done, they have confirmed long-term benefits from a healthy diet have been based on getting the greatest nutrient density with the least amount of calories associated with the products. With this system your body will be getting nutrients that it is not normally getting in your daily diet. There are more nutrients per calorie than any other food or product in the marketplace.

Monavie is in the business of making waves. This weight management system is going to put them in major competition with the big boys who already have a share of the weight loss market. Step aside, Jenny Craig, Weight Watchers, and Nutrisystem! There is a new kid on the block.

They have even designed a personal weight management website where you can track your daily food intake, exercise, weight, and measurements. Everyone wants to have the benefit of good health. Not only is this going to taste great, it is good for you also.

You are going to have tastier meal replacements which will cost less than a fast food dinner, not to mention the over-priced diet food laden with sodium, chemicals and preservatives. Some of the bags of food are even lined with aluminum and taste like aluminum when you are eating them, or if you are smart, before throwing them away like we did.

So next time you decide to pull up to a drive-in window, keep your hard-earned money in your pocket and drive away. Instead of saying supersize, drink your shake mix and have a snack bar and you will feel better about yourself and you will not supersize your hips.

This weight management system will work if you eat properly and get some exercise. You should also get plenty of sleep, because your body rebuilds itself while you sleep.

I would also recommend drinking one of their healthy functional beverages twice a day to get the equivalent of 13 fruit servings in antioxidants:

Active - for joint support and mobility

Pulse - has resveratrol and aids in weight loss. Plant sterols may lower your cholesterol.

(M)Mun - designed to support your immune system

When you are working out drink EMV energy drink Or EMV lite, with half the calories. It will give you sustained healthy energy without a crash and burn and the jitters which are nasty side effects from the popular energy stimulants on the market.

When you are ready to get started, take a photo of yourself and put it on the fridge. Also cut out some pictures of bodies or swimsuits that you like and put them on the fridge as well. When you feel like cheating, look at the pics and decide which one you are going to look like.

Then when you lose weight, you will have a picture to show people. Seeing is believing and if you are losing weight and feeling great, you are going to be able to get some customers as well. If you love the product, sign up as a distributor and make some money helping others lose weight as well.

Monavie Reveal Product Review - Is RVL Healthy Weight Loss Solution A Weight Management System?
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Pam Eppinette has over 30 years of business, sales and marketing experience and is a successful internet business owner, wellness and weight management consultant and TEAM leadership, life and business coach. Pam believes success is possible for those who want work from home with the right mentor and proven training system.

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Intra-Articular Injections For Pain Management

In cases of severe pain, patients often seek medical help and advice on the best possible solution or course of treatment for the pain. One such treatment is the intra-articular injection for pain management. An intra-articular injection is one that is placed within the cavity of a joint. This form of pain relief will most often be administered when the patient has followed other courses of pain management to no avail.

Intra-articular injections for pain management are administered to patients with pain of the joints of the body. Specific conditions indicating the administration of intra-articular injections for pain management include relief of inflammation causing a reduction in range of motion or normal daily activity and administration of corticosteroids to the site of joint inflammation to relieve cases of severe, seemingly untreatable, pain.

Most often associated with joint disorders or conditions such as joint replacements and arthritis of the joint, the anti-inflammatory and pain medications can be delivered to the immediate causal site of the pain as opposed to utilization from the bloodstream or digestion. The injection thus decreases the inflammation of the area and relieves the pain associated with the inflammation.

Intra-Articular Injections For Pain Management

During the administration of an intra-articular injection for pain management, the patient may feel pain and pressure from the needle. In most cases, lidocaine will be injected into the site of the pain along with the pain medication in order to lessen the localized pain from the injection. In cases of severe pain, nitrous oxide (laughing gas) has been used to calm the patient before injection.

Intra-articular injections for pain management have been used for many years, the success rate of the injections depends greatly on the overall condition of the joint and the medication administered during the injection, as well as the accurate placement of the injection into the joint.

The possible side effects associated with the intra-articular injections for pain management include: hypercortisonism, Cushing Syndrome, hyperglycemia and infection. These side effects are very rare and are most often associated with intra-articular injections given too frequently to the patient.

Intra-Articular Injections For Pain Management
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Risk Management Within an Organisation

Introduction

This manual is written to advise on an approach to managing risk, with regards to procedures to follow in conducting risk analyses and treatment.

Background of my Organisation

Risk Management Within an Organisation

I will focus my attention on the management of risks for my company in general. My company is involved in the trading of steel products, mainly for construction purposes, as well as the sales and purchases of agricultural products such as beans, maize and rice. With regards to these products, letters of credit (LCs) have to be initiated regularly for such products to be sold overseas. As part of the accounting and finance function, my responsibilities are not only in the proper accounting treatment of such transactions, but also as part of the team involved in a new trade financing project to ensure the smooth flow of these transactions from the opening of LCs, the financing as well as the delivery of these products. Such a flow will involve the cooperation of both the operations and the accounting and finance departments.

Purpose of Risk Management

Business risk relates to exposure to certain events that will have a negative impact on the strategies and objectives of the company. Hence business risk is due to two factors: the probability of an event occurring as well as the seriousness of the consequences (Bowden, Lane and Martin, 2001). There are several risks that are more specific to my organization, and are shown as follows:

1. Strategic risk, such as poor marketing strategy and poor acquisition strategy, as a result of poor planning (Bowden et. al, 2001). Poor marketing and acquisition of different grades of steel and agricultural products can prove the downfall of the organization.

2. Financial risk, such as lack of credit assessment and poor receivables and inventory management, as a result of poor financial control (Bowden et. al, 2001). Inadequate credit assessment of potential trade and other debtors as well as low debtors' turnover can be a poor reflection of the company's strategy and objectives.

3. Operational risk, such as poor practices and routine actions, as a result of poor human actions (Bowden et. al, 2001). Non-conformity to the organization's safe practices or even willful actions by employees can create potential operational and financial losses to the company.

4. Technical risk, such as equipment and infrastructure breakdown and fire destruction, as a result of failure of physical assets (Bowden et. al, 2001). Such risks can be prevalent in my organization if appropriate actions are not taken to prevent these technicalities. Unfortunately, many organizations tend to focus too much on the performance and cost dimensions of technical risk and manage them too heavily (Smith and Reinertsen, year unknown).

5. Market risk, such as inadequate market research, which is the risk of not meeting the needs of the market, assuming that the specification has been satisfied (Smith and Reinertsen, year unknown). This risk may be more important compared to others, however it is less manageable due to the risk being less objective and quantifiable compared to say technical risk

As a result of such risks mentioned above, coupled with the advancement in technology and competitive pressures, risk management has taken a more important role in the existence of businesses today (Bowden et. al, 2001). Risk management relates to the logical and systematic way of establishing context, identifying risks, analyzing risks, evaluating risks and lastly, treating risks. This approach also involves communicating and consulting the findings as well as monitoring and reviewing the treatment of risks. This approach to managing risks is known as the AS 4360 method (Bowden et. al, 2001).

Risk Management

Step 1: Definition of Context

This relates to the establishment of context in terms of strategic, organizational and risk management (Bowden et. al, 2001). The strategic context is concerned with the relationship between the organization and its parameters in terms of financial, operational, competitive and social context (Bowden et. al, 2001). In the case of my organization, we are concerned with our financial objectives (i.e. sales turnover of US million with a profit margin of at least 12% annually), products with high quality and good customer satisfaction, as well as good market position (one of the top suppliers of steel in the regional construction industry). The strategic context also requires the organization to identify the stakeholders, which includes the owners, employees, customers, suppliers as well as the local community (Bowden et. al, 2001). In addition to that, my organization will have to be accountable to our shareholders and the media as well, since we are a local listed company.

The organizational context will be concerned with wider goals, objectives and strategies of the company as a whole (Bowden et. al, 2001). In this context, we have to establish and implement sufficient key performance indicators (KPIs) and critical success factors (CSFs) that are suitable to the different aspects of the business. There are a couple of KPIs that are commonly used in my organization:

1. Revenue and profit targets: These are mentioned above.
2. Customer satisfaction: Surveys are sent quarterly to our suppliers and customers to ensure at least 90% customer overall satisfaction.
3. Stocks update and on-time deliveries of goods: Sufficient stocks are maintained and retrieved from suppliers and deliveries have to be made on time to customers at least 98% of all sales orders.
4. Timely submission of monthly accounting and sales records to head office: The deadline of submission of such reports is usually the 5th of each month, which has to be strictly adhered to.

On a wider basis, such KPIs are also linked to CSFs in my organization, which includes the following:

1. Maintaining a healthy position in our markets: This is mentioned above.
2. Supportive top management open to marketing and financing ideas: The directors and senior management have a fortnightly meeting with lower management on possible ideas and brainstorming on ideas and possible financing from banks on certain products.
3. Sufficient funds and resources in place: Funds have to be in place for LCs, which are converted to trust receipts, which have to be settled within certain tenure, coupled with adequate manpower and technologies for proper functioning of the organization.

With these KPIs and CSFs in mind, the various activities of the can be further segregated into smaller teams and activities to provide a more logical flow for better analysis (Bowden et. al, 2001). In my organization, the sales teams are broken up into smaller groups in charge of various products for steel and agricultural aspects. This is also done likewise for the finance department, which has smaller teams in charge of receivables, payables and other administrative functions.

Step 2: Identification of Risks

This process aims to identify all events, which might affect the organization as a whole. In such a scenario, there is a need to identify all causes and potential situations (Bowden et. al, 2001). After which, we will proceed to link the risks, both threats and opportunities, with key criteria that will have a direct impact on the organization (Bowden et. al, 2001). There is also a requirement to approach these risks with proactive and reactive responses (Bowden et. al, 2001). There are several tools that can help with identifying risks, namely brainstorming, checklists and judgements based on experience.

In my organization, there are several tools used to identify risks. For the finance department, there is a quarterly checklist used on different risks involved, which can include the amount of tax incurred and tax credits agreed with the tax authorities, the amount of receivables and stock updates and how efficient their respective turnovers are. Provisions for such items are also raised based on prior experience. For the marketing and operations department, weekly meetings are conducted whereby brainstorming and systems analysis are used to identify possible risks with regards to competition, changes in prices and tastes of customers as well as the safe-guarding of stocks at our premises. It is further recommended that a product plan with a product manager be put in place, with rankings are given to the priority of such risks and the inputs, processes and outputs should be investigated in greater depth (Bowden et. al, 2001).

It is mentioned that a test market will be useful if there is a high degree of uncertainty about the eventual sales of the new product as the launch date approaches (Cooper, year unknown). My organization is currently looking at possible new sales of liquor and diesel for its overseas markets. However, these possible sales are not considered new products in the existing markets. With speed and the competitive environment being important facts, a test market may not be applicable in our scenario (Cooper, year unknown).

In addition to the launch of possible new products, there are several pitfalls in considerations for my organization:

1. Lack of market orientation. These are possible risks considering insufficient market analysis and not understanding customer needs and wants.
2. Poor quality of execution. With regards to my organization, the grades or quality of the flammable new products might be filled with deficiencies, hence not meeting customers' needs.
3. Moving too quickly. A too hasty approach to launch these products might render too many mistakes in the process and compromise the quality and timing of the promotional activities (Cooper, year unknown).

Step 3: Risk Analysis

This step involves the estimation of the likelihood and consequence of possible risk events. These are often evaluated using the current controls in place (Bowden et. al, 2001). Such controls are needed to ensure effective operations, reliable reporting systems and proper compliance with rules and regulations (Bowden et. al, 2001). In my organization, controls in place will include past records, market analysis given by traders from different countries, published literature in the form of accounting and marketing magazines and internal and external auditors' reports.

There are several techniques that are used to establish likelihood and consequence, namely structured interviews, multi-disciplinary groups of experts, assessments using questionnaires and computer modelling (Bowden et. al, 2001).

The decision tree technique can also be used whereby the expected net present value (NPV) of cash flows associated with each individual outcome is shown (Vlahos, 2001). This technique is useful for the following reasons:

1. It improves our understanding of each outcome and makes assumptions more forthcoming.
2. It is useful for documenting and communicating thoughts on uncertainty and also helps generate alternatives for better value enhancement.
3. Managers can monitor each stage of the project and make appropriate analysis with regards to decisions made at each point
4. The outputs in terms of expected NPVs generated can be used as potential inputs for projects selection (Vlahos, 2001).

This technique is highly recommended for my organization in two ways:

1. This can be used in decisions made by the marketing department in terms of which products to obtain for potential markets.
2. The finance department will also find it useful in terms of the different ways of financing (i.e. direct cash financing, using LCs or trust receipts) in consideration for the building of the trade finance project.

There are two types of risk analysis, mainly qualitative and quantitative (Bowden et. al, 2001).

Qualitative Technique

A qualitative method makes use of words or descriptive scale and comes in the form of a ranking structure, alternating between Rare and Almost Certain. Such a method is concerned with raking likelihoods and consequences (Bowden et. al, 2001). With regards to construction projects, which can be applicable to my organization, the consequences can range from insignificant (whereby there is no injuries and minimum financial loss), moderate (injuries with medical help required and moderate financial loss) to catastrophic (death with significant financial loss). Such a qualitative table with various likelihood and risk levels matrix can be useful in the following scenarios:

1. Initial screening guide to identify possible risks for further analysis.
2. Where the level of risk does not justify the time and effort required for more analysis.
3. Insufficient numerical data, which renders a quantitative analysis useless.

For the qualitative analysis, the management and staff with regards to the risk events at different levels must work through the risk-ranking matrix. Each likelihood and consequence criteria should be considered in order to put events in the appropriate category (Bowden et. al, 2001).

However, there are several disadvantages associated with this technique:

1. It may not be too accurate as events within the same category may have substantially different levels of risk.
2. There may not be a common basis for comparison of risk i.e. on dollar basis or number of deaths.
3. There is no clear justification with regards to the process of 'weighing' risks
4. There could be different interpretations with regards to the meaning of different consequences i.e. the word catastrophic can mean a great deal to some people, while others might take it more lightly.
5. It can be difficult to translate the findings from this technique to match that of a quantitative method (Bowden et. al, 2001).

With these pitfalls mentioned above in mind, I would think that it will be better to consider the qualitative technique as more of an initial screening exercise which should be used concurrently with the quantitative technique.

Quantitative Technique

This approach takes the product of likelihood and consequence, with the consequence expressed as an actual variable (Bowden et. al, 2001). Such a technique is more reliable as it relies on numerical values, with estimates of frequency being made in terms of event frequency (Bowden et. al, 2001).

There are several drivers of risks, namely, technology, people, systems, organizational factors and external factors (Bowden et. al, 2001). In my organization, some drivers of risk might include how updated my computer versions of accounting and sales systems, the competency and educational levels of the employees, the number of new ideas by lower management accepted by higher management and possibly the amount of pollution our products might cause to the environment.

The quantitative analysis is further broken down into likelihood and consequence criteria. For the likelihood criteria, it is expressed as a probability instead of frequency, thus ensuring that risks are compared on a similar basis (Bowden et. al, 2001). With similar small events likely to occur, the likelihood of them occurring can be considered as one event. With regards to my organization, examples of such similar events might include:

1. 20 deliveries which are not made on time (more than 30 minutes) to customers resulting in losses of ,000 each for transportation costs
2. 5 deliveries of wrong grades of products to customers resulting in losses of ,500 for transportation and bank charges.

For the consequence criteria, it can be considered in terms of an event leading to possible death or severe losses i.e. financial or reputation losses. In the case of the two examples for likelihood criteria given above, the related consequence criteria are as follows respectively:

1. Free deliveries made for the next trip.
2. Appropriate discounts given for these batches of products sold.

The consequence criteria can also be expressed quantitatively in terms of non-performance or failure to achieve certain KPIs, reflecting on the organisation's priorities in accepting varying degrees of risks. In my organisation's case, the free deliveries and discounts given could jeopardize not only the revenue and profit targets, but also in terms of customer satisfaction (which are important KPIs). As such the consequence criteria can be expressed as the mean or expected value (Bowden et. al, 2001). This is consistent with the Monte Carlo method, which can be used to obtain the distribution of the project or product value associated with trading operations (Vlahos, 2001).

Step 4: Risk Evaluation

Risk evaluation is concerned with identifying which risks must be treated and can be calculated using the product of likelihood and consequence (Bowden et. al, 2001). The risks can be compared with previously established criteria. Different softwares such as the Monte Carlo approach, the sensitivity analysis and the probability distribution can be used to show the effects of major risks for evaluation (Bowden et. al, 2001).

Step 5: Treating Risks

There are several methods of treating risks, namely avoidance, accepting, reduction and transfer of risks (Bowden et. al, 2001).

1. Avoiding risks. In my organization, avoiding such risks would involve possibly not importing highly flammable products such as liquor or diesel (which are part of the consideration for new products) as part of sales and speculating in foreign exchange fluctuations.
2. Accepting risks. Certain risks may be unavoidable. In my organisation's case, we have huge sales transactions in Myanmar, which has just experience a major military and governmental coup. Hence sales in Myanmar may be volatile. These are potential risks, which are already factored in our business considerations.
3. Reducing risks. Currency fluctuations are imminent when trading with overseas counterparts for my organization. Hence LCs and hedging are done frequently in order to mitigate such risks for products purchased and sold to other countries.
4. Transfer risks. For my organization, this is done in terms of insurance coverage for stocks, which are housed in our premises.

Some other popular treatment of risks will include audit compliance programs, contractual obligations and conditions, preventive maintenance, quality assurance and contingency planning (Bowden et. al, 2001). Such treatments of risk are also maintained within my organization.

The different options for treatment of risks should be evaluated and risk treatment plans should be planned and prepared (Bowden et. al, 2001). Such a plan should consider detailed base implementations, risk assessment in terms of threats and opportunities in terms of priorities and recommended proactive and reactive contingency plans. (Bowden et. al, 2001).

The risk treatment schedule and action plan should include the following:

1. The different duties and responsibilities for implementation of plan. Preferably, the plan should involve a project leader and different members in charge of one aspect of the project reporting to the leader.
2. The resources to be utilized.
3. Work breakdown structure for the activities
4. Budget allocation
5. Schedule for implementation
6. Details of the mechanism and frequency for proper compliance to the treatment schedule (Bowden et. al, 2001).

Step 6: Communicating and Consulting

For this stage, stakeholders need to have a common understanding of the project or product situation. Consultation from stakeholders as well as experts is required for better opinions, with communication needed for better coordination (Bowden et. al, 2001).

Such an approach is required for several reasons:

1. To prove that the process is conducted in a systematic manner.
2. To provide records of risks and proper organizational records.
3. To provide relevant decision makers with a proper risk management and action plan for approval and implementation.
4. To provide accountability.
5. To facilitate further monitoring and review.
6. To provide audit trail.
7. To share information (Bowden et. al, 2001).

This report should include the following:

1. Executive summary
2. Scope of project
3. Methodology of study
4. Contextual issues of the project including the restraints
5. Success factors chosen
6. KPIs for each success factor chosen
7. Target and tolerance
8. Any assumptions
9. Top ten risks across all CSFs for the project or product plan
10. Vulnerabilities in phases of the project
11. Responsibilities for managing risks in phases
12. Primary and secondary drivers triggering each risk
13. Existing controls
14. Tables and figures (Bowden et. al, 2001)

Step 7: Monitoring and Reviewing

For the final step, there is a need to develop and apply mechanisms to ensure ongoing review of risks i.e. project leaders should provide a consistent update of the current situations (Bowden et. al, 2001). The effectiveness of the risk management process should be consistently monitored and reviewed (Bowden et. al, 2001).

Conclusion

Risk should be managed on an active basis. Risk management will involve identification of areas of high risks ahead of time, interpreted to the greatest degree possible, with the best technical or marketing talent allocated to the problem, have the problems solved as quickly as possible, and be provided with a contingency plan in case something cannot be resolved (Smith and Reinertsen, year unknown).

Reference List

Bowden, A., Lane, M. and Martin, J. (2001) Triple Bottom Line Risk Management. Wiley.

Cooper. (year unknown). New Products: Problems and Pitfalls. Pg 22-49.

Cooper. (year unknown). To test or Not to Test. Pg 123-129.

Smith, P. and Reinertsen, D. (year unknown). Managing Risk. Pg 207-21.

Vlahos, K. (2001). Tooling up for Risky Decisions. Pg 47-52.

Risk Management Within an Organisation
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Practical Project Management - How To Implement a Project Management Methodology

A Project Management methodology is a series of phases, actions and tasks that needs to be followed in order to deliver projects successfully. However one of the major issues many companies experience is that once they have selected a project management methodology that suites their needs, they do not know how to implement the methodology successfully.

In order to implement a project management methodology successfully, you need to follow just 5 steps. These are:

Create an implementation plan Customize the methodology for every project Train all stakeholders on how to use the methodology Constantly make sure everyone follow the methodology Improve the methodology on an ongoing basisThe first thing to do in order to ensure that you implement the project management methodology successfully is to create a proper implementation plan. Take into consideration every action you need to do in order to complete the five steps listed above. Once you have done the plan, make sure you work the plan.

Practical Project Management - How To Implement a Project Management Methodology

Not all projects are the same and because of these differences, you must be able to customize and adapt your methodology to such an extent that it fits the project. As long as you ensure that your overall methodology includes everything that may ever be needed by your projects, taking away from this methodology to fit your current projects should be easy.

One of the major failures in implementing any methodology is that the stakeholders are not communicated to as to the new methodology. You must train everyone that will use the methodology on the actual methodology and how to use it. Also remember that as new members join the team, that they are also in their induction trained on your methodology.

In order to ensure long term success of the methodology, you must through regular project management meetings and other methods of communication ensure that all stakeholders follow the newly implemented methodology. It may in the beginning require more effort to get all stakeholders to buy into the methodology, but once they start seeing the benefits, they will more easily adopt the methodology.

Lastly, a methodology should never be a cast-in-concrete thing, because as times change, so will your requirements and the methodology must be reviewed regularly to ensure that it is optimized and improved on an ongoing basis. A lot of feedback that may come from project management, not project feedback, sessions should provide input into improving the methodology.

If you follow these 5 steps and constantly improve and then re-implement your methodology, you should in no time have a very successful methodology that should be adopted by everyone in your team and organization.

Practical Project Management - How To Implement a Project Management Methodology
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Petrus Keyter

http://www.pankey.co.za

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Developing Your Property Management Business Plan - How to Start a Property Management Company

The recent real estate "crisis" has caused a number of beneficial effects on the property management industry. There has never been a better time to consider starting a property management business than right now.

1. Houses are not selling, therefore homeowners that need to move and/or investors are forced to rent their units out; thus increasing the rental property supply chain.
2. Houses are foreclosing by homeowners and being bought by investors that in turn rent the property out. This increases the amount of supply as well.
3. The homeowners that were foreclosed upon will now be renters. Thus increasing the rental pool and increasing demand.

The above items create a perfect storm for the Property Management Business Industry. The purpose of my article is to present and discuss the 6 categories that are paramount in developing your property management business plan:

Developing Your Property Management Business Plan - How to Start a Property Management Company

1. Executive Summary
2. General Company Description
3. Description of Services
4. Marketing Plan
5. Operational Plan
6. Budget

1. Executive Summary - Include everything that you would cover in a five-minute interview. Who are the owners, what is their experience in this industry? Explain the fundamentals of your business. What do you think the future holds for your business and your industry? Make it enthusiastic, professional, complete, and concise.

2. General Company Description - This includes your mission, vision and company commitments, Who is your target market (higher/lower end residential, multi-family, commercial), what price range of properties will you target, what area(s) will you target, who are the prospective tenants and what's the future of your industry? Form of ownership, what factors will make the company succeed? What strengths do you personally bring to the business? Long term: What are your plans for the future of your business? Growth? If so, at what rate and how will you achieve it?

3. Description of Services - Describe in depth your property management service structure. What will you perform on a monthly basis for your property owners? What will be your monthly fee structure? What additional services will you offer such as evictions, project management, maintenance and what will your fee structure and profit center look like?

Much of your service offering will be developed by performing a complete competitive analysis. Your offering needs to be correctly place in the marketplace to make yourself unique. You should know your competitions monthly fee structure, how many properties they manage, number of managers, etc.

4. Marketing Plan - Bottom line: Your plan for how to attract clients. How will you get your company and offer in front of your prospective property owners. How will you utilize the following: (website, SEO (search engine optimization) plan, online marketing, signs, advertisements, associations, relationships, networking, direct mail campaigns, signs, yellow pages, calling for rent by owners, etc.)

By the way, there are methods that are much more effective than others for a start up real estate management company. Be sure to do your proper research before you unnecessarily spend money.

5. Operational Plan - Explain the daily operation of your business; (its location, equipment, people, processes, and surrounding environment.) If you are starting out opening your own prop mgt business, you will want to spend the majority of your free time in marketing techniques.

6. Budget and Financials - Includes your start up expenses, capital expenses and expected monthly recurring expenses. If you are starting out a your business with 0 properties as I did, you will want to start with a minimal budget in mind. Keep your costs as low as possible. What is your expected income based on your predicted growth rate?

Conclusion: Properly developing your property management business plan is the key to your success. Starting a property management business can be very rewarding, however not having the right direction and foresight from the beginning can blind you and your business. Remember; "Failing to properly plan is properly planning to fail."

Developing Your Property Management Business Plan - How to Start a Property Management Company
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Patrick Rogers is the owner of Rents2Riches, a Property Management Business Coaching Company that is dedicated to the phenomenal development and growth of the Property Management Industry. Patrick also develops marketing products that help existing and startup Property Managers get more clients and learn the tips and tricks in operating a Property Management Business.

Patrick offers his own personal property management business plan free for download at PropertyManagementBusinessPlan.com.

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