According to WiKi "Innovation comes from the Latin innovÄtus which means to renew. Innovation can therefore be seen as the process that renews something that exists and not - as is commonly assumed - the introduction of something new."
Here are 10 Rules of Success for entrepreneurs.
1.Do what you love to do.
2.Be different.
3.Do your best
4.Make SWOT analysis
5.Be entrepreneurial
6.Start small, think big.
7.Strive to become a market leader
8.Focus on the outcome
9.Ask for feedback.
10.Innovate
11.Learn from failures
12.Learn continually.
Innovation is about creating value and increasing efficiency, and therefore growing your business. It is a spark that keeps organizations and people moving ever onward and upward. "Without innovation, new products, new services, and new business models would never emerge, and most organizations would be forever stuck doing the same old things the same old way
Sunday, October 31, 2010
Reflection on Chapter 4: Creating a Strategy
Creating a Strategy!!
Vision: "I see a world where..."
Mission: "In that world, we intend to..."
Strategy: "We will achieve this mission by..."
The important thing is
Finding a Real Vision Thing
Mission Without Strategy Is Just Bombast
Strategy – Plan = Hot Air
Strategy is also to planning, decisions and organizational leadership
Sunday, October 3, 2010
what could be an ethical delimma you face in your business
There 3 things we need to consider before conducting the business.
1.Is this legal?
ou must find out whether acting on your thoughts would make you violate any law and eventually put you behind bars.
2.you need to ask yourself if the act would be a balanced one. Would it be just to all concerned, and result in situation where everybody involved ends up benefiting?
3. is this the right thing to do
it is important you look inwards and pay attention to how the decision makes you feel.
1.Is this legal?
ou must find out whether acting on your thoughts would make you violate any law and eventually put you behind bars.
2.you need to ask yourself if the act would be a balanced one. Would it be just to all concerned, and result in situation where everybody involved ends up benefiting?
3. is this the right thing to do
it is important you look inwards and pay attention to how the decision makes you feel.
BUS 600- 3~6 ideas for Chapter 1&2
I have learn the below concepts from this chapter.
1.Market Analysis
Market analysis is a documented investigation of a market that is used to inform a firm's planning activities particularly around decisions of inventory, purchase, work force expansion/contraction, facility expansion, purchases of capital equipment, promotional activities, and many other aspects of a company.
2.Competitive Analysis
Business takes place in a highly competitive, volatile environment, so it is important to understand the competition. Questions like these can help:
Who are your five nearest direct competitors?
Who are your indirect competitors?
Is their business growing, steady, or declining?
What can you learn from their operations or advertising?
What are their strengths and weaknesses?
How does their product or service differ from yours?
3.Distribution Channel
distribution channel is a method of getting a product to its consumer
4.Marketing Mix
Four P's, the marketing mix elements are price, place, product, and promotion.
Those concepts really lead a way to people who wants to make their company profitable and keep growing. To apply those concepts to the real world business is also essential, It would really do help me to have a different kind of thinking when making business decision. It's always good to know and understad more that could really help me to make appropriate decision and strategy.
1.Market Analysis
Market analysis is a documented investigation of a market that is used to inform a firm's planning activities particularly around decisions of inventory, purchase, work force expansion/contraction, facility expansion, purchases of capital equipment, promotional activities, and many other aspects of a company.
2.Competitive Analysis
Business takes place in a highly competitive, volatile environment, so it is important to understand the competition. Questions like these can help:
Who are your five nearest direct competitors?
Who are your indirect competitors?
Is their business growing, steady, or declining?
What can you learn from their operations or advertising?
What are their strengths and weaknesses?
How does their product or service differ from yours?
3.Distribution Channel
distribution channel is a method of getting a product to its consumer
4.Marketing Mix
Four P's, the marketing mix elements are price, place, product, and promotion.
Those concepts really lead a way to people who wants to make their company profitable and keep growing. To apply those concepts to the real world business is also essential, It would really do help me to have a different kind of thinking when making business decision. It's always good to know and understad more that could really help me to make appropriate decision and strategy.
Sunday, August 29, 2010
BUS 552 Financial Accounting Final Assessment
California University of Management and Technology (CALMAT) MBA
BUS552 Financial Accounting
http://www.youtube.com/watch?v=oM14vnpjHDo
Dont know why, but I tried few times to post on the blog, I got all the error message!! So, I will try the other day to see if I still encounter this problem.
BUS552 Financial Accounting
http://www.youtube.com/watch?v=oM14vnpjHDo
Dont know why, but I tried few times to post on the blog, I got all the error message!! So, I will try the other day to see if I still encounter this problem.
Sunday, August 15, 2010
BUS 520-SU10 Organizational Behavior-Reflection: Strengthen Others
Write a blog entry each for the following two scenarios:
1. Think of a time when, as a direct result of something a leader said or did, you felt personally powerful and capable. Write down the actions the leader took that contributed to your feeling powerful, strong, capable, and effective - the master of your own experience. Be as specific as you can.
2. Now think of a time when you felt powerless, weak, and insignificant as a result of something a leader said or did. What specifically did he or she do?
1. Think of a time when, as a direct result of something a leader said or did, you felt personally powerful and capable. Write down the actions the leader took that contributed to your feeling powerful, strong, capable, and effective - the master of your own experience. Be as specific as you can.
2. Now think of a time when you felt powerless, weak, and insignificant as a result of something a leader said or did. What specifically did he or she do?
I remember one time when I was working in TW, we got a big project with a large enterprise. Since our company was small and still growing, lots of the time, one needs to do many different jobs. at the time, I was assigned to go over client's locations to set up our system. I was really nervous and scared inside. My boss seemed notice I was freaking out of the sudden assignment, he said to me "I believe you can do the job successfully, don't let me down" and hit lightly on my shoulder. At the moment, i deeply feel that I am Powerfully, strong, capable, and effective. I got full trust from the Boss. This encourage a lot..!!!
There is one time, I was talking to a customer regarding an issue. We were discussing for a while, can't come up a solution. Suddenly, my manager interrupt our conversation and said to me"Jimmy, I will take care from here, you are free to leave". This made me felt bad, I felt I am so powerless, weak, and insignificant. I hope ,my manager can give me a little more time, I know I can do the job.
BUS 528 Project management.-Chapter 9&10
A project manager is the person accountable for accomplishing the stated project objectives.
Key project management responsibilities include
-creating clear and attainable project objectives
-building the project requirements
-managing the triple constraint for projects, which is cost, time, and scope.
It's very difficult sometimes for PM to balance between Quality/time/cost. How to make deliver a quality project, on time and within the budget is the essential of being a PM.
Chapter- 10
Developing a High Performance Project Team
1.Prepare the Project Environment
Publish the project mission statement with clearly expressed terms of quality, quantity, and time
Identify the 3-5 key project-focused tasks for which each member is responsible and also include a team-focused task such as "teamwork"
Clearly define each team member's key task expectations regarding performance toward project goals with a range of measurable performance levels so they can self-monitor their performance progress.
2.Prepare the Project Member
look for people with diverse perspectives with the right combination of skills, knowledge and experience.
3.Prepare the Project Manager
PM need to communication with each of your direct reports on the project team on a regular basis.
Key project management responsibilities include
-creating clear and attainable project objectives
-building the project requirements
-managing the triple constraint for projects, which is cost, time, and scope.
It's very difficult sometimes for PM to balance between Quality/time/cost. How to make deliver a quality project, on time and within the budget is the essential of being a PM.
Chapter- 10
Developing a High Performance Project Team
1.Prepare the Project Environment
Publish the project mission statement with clearly expressed terms of quality, quantity, and time
Identify the 3-5 key project-focused tasks for which each member is responsible and also include a team-focused task such as "teamwork"
Clearly define each team member's key task expectations regarding performance toward project goals with a range of measurable performance levels so they can self-monitor their performance progress.
2.Prepare the Project Member
look for people with diverse perspectives with the right combination of skills, knowledge and experience.
3.Prepare the Project Manager
PM need to communication with each of your direct reports on the project team on a regular basis.
BUS 528 Project management.-Chapter 7&8
Chapter 7
How close do we estimate the resource in the project compare with in the realistic is the fact that could cause the project No go/delay/fail.
of course it is nearly impossible to calculate like 100% as in the realistic. but what we can do is to have adjustment during the monthly/quarterly meeting. This is one way to make sure everyone is on the same page, know the project progress.
Chapter 8
How to estimate the time to complete is critical, here are some ideas.
Identify Deliverables
Break It Down
-Project Planning
-Design
-Testing
Add in a buffer
There are of course few uncertain factors. But The more time estimates you do, the more accurate you will be.
How close do we estimate the resource in the project compare with in the realistic is the fact that could cause the project No go/delay/fail.
of course it is nearly impossible to calculate like 100% as in the realistic. but what we can do is to have adjustment during the monthly/quarterly meeting. This is one way to make sure everyone is on the same page, know the project progress.
Chapter 8
How to estimate the time to complete is critical, here are some ideas.
Identify Deliverables
Break It Down
-Project Planning
-Design
-Testing
Add in a buffer
There are of course few uncertain factors. But The more time estimates you do, the more accurate you will be.
BUS 528 Project management.-Chapter 5&6
Risk management is the identification, assessment, and prioritization of risks followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events[1] or to maximize the realization of opportunities.
1. identify, characterize, and assess threats
2. assess the vulnerability of critical assets to specific threats
3. determine the risk (i.e. the expected consequences of specific types of attacks on specific assets)
4. identify ways to reduce those risks
5. prioritize risk reduction measures based on a strategy
We are actually taking the risk everyday for everything. There are always some uncertain parts for everything tasks. However, to understand and learn how to reduce the risk, minimize the risk by using above methods is very helpful.
Cheapter-6
The Work Breakdown Structure is a tree structure, which shows a subdivision of effort required to achieve an objective; for example a program, project, and contract. [2] In a project or contract, the WBS is developed by starting with the end objective and successively subdividing it into manageable components in terms of size, duration, and responsibility which include all steps necessary to achieve the objective.
WBS gives us an overview of the project structure, tasks assignment and is really helpful for PM to plane the schedule/track the project process, also helps organize and define the total work scope of the project.
1. identify, characterize, and assess threats
2. assess the vulnerability of critical assets to specific threats
3. determine the risk (i.e. the expected consequences of specific types of attacks on specific assets)
4. identify ways to reduce those risks
5. prioritize risk reduction measures based on a strategy
We are actually taking the risk everyday for everything. There are always some uncertain parts for everything tasks. However, to understand and learn how to reduce the risk, minimize the risk by using above methods is very helpful.
Cheapter-6
The Work Breakdown Structure is a tree structure, which shows a subdivision of effort required to achieve an objective; for example a program, project, and contract. [2] In a project or contract, the WBS is developed by starting with the end objective and successively subdividing it into manageable components in terms of size, duration, and responsibility which include all steps necessary to achieve the objective.
WBS gives us an overview of the project structure, tasks assignment and is really helpful for PM to plane the schedule/track the project process, also helps organize and define the total work scope of the project.
Wednesday, July 21, 2010
BUS 528 Project management.-Chapter 3&4
Characteristics of a project manager
Based on few researches done by various researchers, here are the top five
characteristics that make a great project manager.
1. Interpersonal skills The ability to manage people is vital. Project managers will
ultimately be responsible for coordinating the efforts of the technical staff assigned to the
project. It's crucial that they have the interpersonal and leadership skills to direct team
members and keep them motivated and on track. They also need to be able to smoothly
navigate through the tricky politics within and between the participating organizations.
2. Organizational skills This key characteristic of great project managers is absolutely
critical to keep projects on schedule and budget. The ability to assign resources,
prioritize tasks, and keep tabs on the budget will ensure quality and impact the project's
success.
3. Communication skills The project manager is the main communication link between
the state level heads and his or her team members. His or her ability to clearly
communicate with members of both groups is essential. He or she must be able to
clearly communicate project objectives, challenges or problems, scope changes, and
regular project status reports.
In offshore outsourcing, communication skills become even more critical.
Project managers must not only communicate with team members that may be on the
other side of the world, they must do so in a way that makes the global nature of the
project invisible to the client. It's an added challenge to try to effectively communicate
between on-site and offshore staff. But an experienced offshore outsourcing project
manager can do this with ease. In addition to global distance between personnel, he or
she also needs to be aware of and address cultural differences.
4. Problem-solving skills In every project, it's unexpected problems or challenges that
drive everyone crazy. The project manager must be able to effectively handle these
situations and mitigate risk so they don't get out of control.
Based on few researches done by various researchers, here are the top five
characteristics that make a great project manager.
1. Interpersonal skills The ability to manage people is vital. Project managers will
ultimately be responsible for coordinating the efforts of the technical staff assigned to the
project. It's crucial that they have the interpersonal and leadership skills to direct team
members and keep them motivated and on track. They also need to be able to smoothly
navigate through the tricky politics within and between the participating organizations.
2. Organizational skills This key characteristic of great project managers is absolutely
critical to keep projects on schedule and budget. The ability to assign resources,
prioritize tasks, and keep tabs on the budget will ensure quality and impact the project's
success.
3. Communication skills The project manager is the main communication link between
the state level heads and his or her team members. His or her ability to clearly
communicate with members of both groups is essential. He or she must be able to
clearly communicate project objectives, challenges or problems, scope changes, and
regular project status reports.
In offshore outsourcing, communication skills become even more critical.
Project managers must not only communicate with team members that may be on the
other side of the world, they must do so in a way that makes the global nature of the
project invisible to the client. It's an added challenge to try to effectively communicate
between on-site and offshore staff. But an experienced offshore outsourcing project
manager can do this with ease. In addition to global distance between personnel, he or
she also needs to be aware of and address cultural differences.
4. Problem-solving skills In every project, it's unexpected problems or challenges that
drive everyone crazy. The project manager must be able to effectively handle these
situations and mitigate risk so they don't get out of control.
Tuesday, July 20, 2010
A Leader I Admire
A Leader I Admire
Definition of a good leader
1. Someone who inspires self-moitvation in others
2. Someone who has followers
3. Someone who has influence
IMHO, I would say "Steve" Jobs (born February 24, 1955) is an American business magnate and inventor. He is well-known for being the co-founder and chief executive officer of Apple.
He is the one who has most influence in the Tech world. Whatever he said, whatever he did alwasy can attract poeple's attention.
He has lots of followers called fans. not only that, he is leading the whole technology industry. people follow his idea, creativity, many great breakthrough, products were born.
He is really a true leader I admire, I was really inspired by his successful legend.
Definition of a good leader
1. Someone who inspires self-moitvation in others
2. Someone who has followers
3. Someone who has influence
IMHO, I would say "Steve" Jobs (born February 24, 1955) is an American business magnate and inventor. He is well-known for being the co-founder and chief executive officer of Apple.
He is the one who has most influence in the Tech world. Whatever he said, whatever he did alwasy can attract poeple's attention.
He has lots of followers called fans. not only that, he is leading the whole technology industry. people follow his idea, creativity, many great breakthrough, products were born.
He is really a true leader I admire, I was really inspired by his successful legend.
Project Management- Chapter 1&2 ideas
Project Management- Chapter 1&2 ideas
Project management is the discipline of planning, organizing, and managing resources to bring about the successful completion of specific project goals and objectives.
1. Define the problem - The first step is fairly simple and straightforward. You have
to define the problem for which the root cause has to be identified.
2. Brainstorm - People have difficulty understanding how to structure the thought
process around a large problem domain. Sometimes it is useful to focus on
logically related items of the problem domain and to represent them in the
Fishbone diagram, which will convey the problem solving methodology. There are
quite a few tools available that can help us in this regard, including:
• Affinity Chart -Organizes facts, opinions, ideas, and issues into a natural
grouping. This grouping is in turn used as an aid in diagnosing complex
problems.
• Brainstorming-Gathers ideas from people who are potential contributors.
This process is discussed further in the following sections.
• Check sheet- Acts as a simple data recording device that helps to
delineate important items and characteristics to direct attention to them and
verify that they are evaluated.
• Flow charts- Organizes information about a process in a graphical manner
and makes it clear who is impacted at every stage.
No single methodology is applicable to all problem domains. Based on
experience and study, you can identify, thoroughly analyze, and maintain the
methodology and the related problem domains. In the example given later in this
article, we use brainstorming as the problem solving methodology.
3. Categorize- When you apply the Fishbone technique to business problems, the
possible causes are usually classified into six categories:
• Method
• Man
• Management
• Measurement
• Material
• Machine
Though the above are a few important problem categories, during the brainstorming
session, the team is encouraged to come up with all possible categories. The above
categories give the team direction to help find the possible causes.
4. Identify causes - While brainstorming, the team should strive toward identifying
major causes (categories) first, which can be further discussed, and then
secondary causes for each major cause can be identified and discussed. This
helps the team to concentrate on one major cause at a time and to refine further for
possible secondary causes.
Project management is the discipline of planning, organizing, and managing resources to bring about the successful completion of specific project goals and objectives.
1. Define the problem - The first step is fairly simple and straightforward. You have
to define the problem for which the root cause has to be identified.
2. Brainstorm - People have difficulty understanding how to structure the thought
process around a large problem domain. Sometimes it is useful to focus on
logically related items of the problem domain and to represent them in the
Fishbone diagram, which will convey the problem solving methodology. There are
quite a few tools available that can help us in this regard, including:
• Affinity Chart -Organizes facts, opinions, ideas, and issues into a natural
grouping. This grouping is in turn used as an aid in diagnosing complex
problems.
• Brainstorming-Gathers ideas from people who are potential contributors.
This process is discussed further in the following sections.
• Check sheet- Acts as a simple data recording device that helps to
delineate important items and characteristics to direct attention to them and
verify that they are evaluated.
• Flow charts- Organizes information about a process in a graphical manner
and makes it clear who is impacted at every stage.
No single methodology is applicable to all problem domains. Based on
experience and study, you can identify, thoroughly analyze, and maintain the
methodology and the related problem domains. In the example given later in this
article, we use brainstorming as the problem solving methodology.
3. Categorize- When you apply the Fishbone technique to business problems, the
possible causes are usually classified into six categories:
• Method
• Man
• Management
• Measurement
• Material
• Machine
Though the above are a few important problem categories, during the brainstorming
session, the team is encouraged to come up with all possible categories. The above
categories give the team direction to help find the possible causes.
4. Identify causes - While brainstorming, the team should strive toward identifying
major causes (categories) first, which can be further discussed, and then
secondary causes for each major cause can be identified and discussed. This
helps the team to concentrate on one major cause at a time and to refine further for
possible secondary causes.
Tuesday, June 15, 2010
Who am I and why am I taking project management?
My name is Jimmy Lai. I actually got a Master Degree and Major in System and Networking and I am currently a working professional in the tech field.
Since nowadays it become so important to have combination experience in not only technical skills but also management ability. I decide to take the program in order to build my management skills. I always want to lead a project in the company however because I don’t have that kind of business management knowledge, I could not done it well. The other reason, of course is that I want to become my own boss, it is everybody’s dream, I believe. Learning how to manage your business is nothing more important than that. Without project management and required business foundation, it is very difficult to be successful in this full of competition world.
Also, in a short term, it would be very beneficial for me if I can have both M.S and MBA degree in hand. I guess it would be much easier to jump into management position. I hope after this program, I can gain lots useful and essential techniques and skills no matter for short or long term. Let’s do it~~!!
Since nowadays it become so important to have combination experience in not only technical skills but also management ability. I decide to take the program in order to build my management skills. I always want to lead a project in the company however because I don’t have that kind of business management knowledge, I could not done it well. The other reason, of course is that I want to become my own boss, it is everybody’s dream, I believe. Learning how to manage your business is nothing more important than that. Without project management and required business foundation, it is very difficult to be successful in this full of competition world.
Also, in a short term, it would be very beneficial for me if I can have both M.S and MBA degree in hand. I guess it would be much easier to jump into management position. I hope after this program, I can gain lots useful and essential techniques and skills no matter for short or long term. Let’s do it~~!!
Project Management!!!!
S.M.A.R.T Goal~!!
Specific
Well defined
They are clear to anyone that has a basic knowledge of the project
Measurable
Have some means to be able to know if the goal is obtainable or how far away completion is.
Agreed Upon
Have agreement between the users and the project team on what goals should be
Realistic
Looking at the resources, knowledge, and time available can the goal be accomplished
Time-Framed
How much time is needed to accomplish the goal
Having too much time can affect the project performance
Specific
Well defined
They are clear to anyone that has a basic knowledge of the project
Measurable
Have some means to be able to know if the goal is obtainable or how far away completion is.
Agreed Upon
Have agreement between the users and the project team on what goals should be
Realistic
Looking at the resources, knowledge, and time available can the goal be accomplished
Time-Framed
How much time is needed to accomplish the goal
Having too much time can affect the project performance
Subscribe to:
Comments (Atom)