COPY WRITING – MBA Notes

COPY WRITING

Copy writing is a specialized form of communicating ideas that are meant to serve the requirement of modern marketing.

The copy writer must be totally familiar with the marketing goals of the advertiser and specific advertising objective. Copy writing skill require command over language and on intellectual and creative mentality.

Step in Copy Writing:

Creativity is of paramount importance initiating the process of writing a copy. Creative has to be combined with purposeful thing. According to Clarke, there are following steps in copy writing.

1.  Abstracting: Relevant data are obtained from the market situation, prospects and relevant media.

2. Elements are blended and combined, ideas and approaches accepted rejected revised etc.

3.  Hypothesizing: Ideas formulated into experimental patterns culminating as a working statement.

4. Gestation: Objection and difficulties resolved may involve discussion with others or reference to sources of information.

5. Coalescence: Decisions are made for transference of ideation to physical expression i.e., writing.

COPY STRUCTURE;

Total advertising copy can be classified into

a.  Headline

b.  Body copy

c.  Close of the copy

a)      Headline:

The headline is the part of the copy which has been made to stand out in the advertisement by the size or style of type in which it has been set. The function of a headline is to attract the favourable attention of prospective purchases and to interest them so that they will read the advertisement. The headline style and content will very according to the product and the purpose may be presented in the following way:

i) An indirect headline that arouse the curiosity  of the reader

ii) State benefit to the customer

iii) A questioning approach,

iv) News oriented headline,

v) Address to buyer directly.

b)         Body Copy:

i.            Involve the reader

ii.            Help the reader

iii.            Conviction

iv.            Inducing a response

v.            Inform

vi.            Persuade

vii.            Create interest.

 

c)          Close of the copy:

Close of the copy calls for action. A copy may be concluded by a specific selling approach, i.e., hard sell or soft sell. Hard sell calls for instant action like ‘one day sale”, ‘limited quantity’, ‘offer valid till stock lasts’, ‘first come first service’. In hard sell copy is pushy. Soft sell calls for persuasion in the passed manner but does not call for instant purchase.

COPY ELEMENTS:

a)         Headline:

Presents the selling idea. Primary function is to catch the eye of the reader. Headline need not always contain special message. Company or brand name could be used as a headline.

b)        The Sub-head:

Important facts may be conveyed, require more space than the head line. All advertisements do not require sub heads.

c)         The body copy:

Refers to the next in the advertisement. Contains details regarding the functions of the product/service and its benefits, body copy can be short or long.

d)         Captions:

Are small units of type used with illustrations, coupons and special offer. It can be used in the form of picture option.

e)          The shrub or button:

Display arrangement where words appear from the month.

f)          Boxes and panels:

Special display positions to get greater attention.

g)      Slogan, logo types & Signatures:

Logo-type-company name, seal or trade mark also refer to signature logo type is an important aid in quick recognition.

CHARACTERISTICS OF EFFECTIVE COPY:

A good copy should have the following characteristics:

  • It should be concise.
  • It should have aim to sell.
  • It should be addressed according to the type of audience.
  • It should influence the readers thoughts and/oration.
  • It should inspire confidence.
  • It should be precise.
  • It should be sincere.
  • It should create desire.
  • It should stimulate interest.
  • It should aim to sell.

 

EMPLOYEE SATISFACTION – MBA Notes

Employee satisfaction is the terminology used to describe whether employees are happy and contented and fulfilling their desires and needs at work. Many measures purport that employee satisfaction is a factor in employee motivation, employee goal achievement, and positive employee morale in the workplace. Learn More…EMPLOYEE SATISFACTION

ORGANISATION BEHAVIOUR – CONFLICT – MBA NOTES

CONFLICT -

Chung and Megginson define conflict as “the struggle between incompatible or opposing encounter goals that both parties cannot obtain satisfactorily.” Though intra-personal conflict is not made explicit in the definition, the first sentence implies intra-individual conflict as well.needs, wishes, ideas, interests, or people. Conflict arises when individuals or groups….LEARN MORE..ORGANISATION BEHAVIOUR- CONFLICT -

ENTREPRENEURIAL DEVELOPMENT TRAINING – MBA Notes

All individuals have a need for training; new recruits need induction into the rationale and objectives of their jobs, besides being trained in specific skills and routines. New professional staff may need to undergo additionally programmes of training to enable them to improve their professional qualifications. Certain individuals may need training for a specific purpose, the development of a new service, taking on a new role in the organisation, preparing for retirement. Learn More…ENTREPRENEURIAL DEVELOPMENT TRAINING

MOTIVATION – MBA Notes

Motivation

Motivation is the  set of reasons  that determines one  to  engage in a particular behavior.   The term is generally used for human motivation but,  theoretically,  it can be used to describe the causes for animal behaviour as well.  According to various theories,  motivation may be rooted in the basic need to minimize physical pain and maximize pleasure,  or it may include specific needs such as eating and resting,  or a desired object,  hobby goal,  state of being,  ideal,  or it may be attributed to less-apparent  reasons such as altruism,  morality, or avoiding mortality.

The  definition of motivation is to give reason,  incentive,  enthusiasm,  interest that causes specific action or certain behavior.  Motivation is  present in every life function.   Simple acts such as eating  are  motivated by hunger.   Education is motivated by desire for knowledge.   Motivators can be anything from  reward to coercion.

There are two main kinds of motivation : intrinsic and extrinsic.  Intrinsic motivation is internal.  It occurs when people are compelled to do something out of pleasure,  importance,  or desire.  Extrinsic motivation occurs when  external factors compel the person to do something.   However,  there are many theories and labels  that serve  as sub tittles to the definition of motivation.  For example.  “I will give you a candy bar if you clean your room.”   this  is an example of reward motivation.

A common place that we see the need to apply motivation is in the work place.  In the work force,  we can see motivation play a key role in leadership success.   A person unable to grasp motivation and apply it will not become or  stay a leader.   It is critical that anyone seeking to lead or motivate understand “Howletts Hierarchy of Work Motivators”.

Salary, benefits, working conditions,  supervision, policy, safety, security, affiliation, and relationships are all externally motivated needs.  These are the first three levels of ‘Howletts Hierarchy”  When these needs are achieved,  the person moves up to level four and then five.  However,  if  levels one through  three are not met,  the person becomes dissatisfied with their job.  When satisfaction is not found,  the person becomes less productive and eventually quits or is fired.  Achievement,  advancement,  recognition,   growth,  responsibility,  and job nature are internal motivators.   These are the last two levels of “Howletts Hierarchy.”    They occur when the person motivates themselves (after external motivation needs are met.)   An employer or leader that meets the needs on the “Howletts Hierarchy”  will see motivated employes and see productivity increase.   Understanding the  definition of motivation,  and then applying it,  is one of the most prevalent challenges facing employers and supervisors.  Companies often spend thousands of dollars each  year  hiring outside firms just to give motivation  seminars.

Another place motivation plays a key  role is in education.  A teacher that implements motivational techniques will see an increased participation,  effort,  and higher grades.  Part of the teachers job is to provide an environment that is motivationally charged.   This environment accounts for  students who lack their own internal motivation.  One of the first places people  being to set goals for themselves is in school.  Ask any adult:  “What is the main thing that motivates you.”    Their  answer will most likely be goals.   Even the simplest things in life are the result  of goal setting.   A person may say,  “I want to save 300.00 for a new T.V  Well, that is a goal.  School is  where we are most likely to learn the correlation between goals,  and the  definition of motivation.  That correlation is what breeds success.`

MOTIVATIONAL CONCEPTS

1.  The Incentive Theory of Motivation

A reward, tangible or intangible,  is presented after the occurrence  of an action (i.e., behaviour) with the intent to cause the behavior to occur again.  This  is done by associating positive meaning to the behavior.   Studies  show that if the person receives the reward immediately,  the  effect would  be  grater,  and decreases as duration lengthens.  Repetitive action-reward combination can cause the action to become habit.   Motivation comes from two things;  you,  and other people.  There is extrinsic motivation,  which   comes from others,  and intrinsic motivation,  which comes from within you.  Applying proper motivational techniques can be much harder than it seems.  Steven Kerr notes that when creating a reward system,  it can be easy to  reward  A, while hoping for B, and in the process, reap harmful effects that can jeopardize your goals.

Rewards can also be organized as extrinsic or intrinsic.  Extrinsic rewards are external to the person;  for example,  praise or money.  Intrinsic rewards are internal to the person; for example, satisfaction or a feeling of accomplishment.

Some authors distinguish between two forms of intrinsic motivation:  one based on enjoyment,  the other on obligation.   In this context,  obligation refers to motivation based on what an individual thinks ought to be done.    For  instance, a feeling of responsibility for a mission may lead to helping others beyond what is easily observable,  rewarded,  or fun.

A reinforcer is different from reward,  in that reinforcement is intended to create a measured increase in the rate of a desirable behavior following the addition of something to the environment.

2.  INTRANSIC AND EXTRINSIC MOTIVATION

INTRINSIC MOTIVATION:

Intrinsic motivation occurs when people engage in an activity,  such as  a hobby, without  obvious external  incentives.  This form of motivation has been studied by social and educational psychologists since the early 1970s.   Research  has found that it is usually associated with high educational achievement and  enjoyment by students  Intrinsic motivation has been explained by Fritz Heider’s attribution theory,  Bandura’s work on self-efficacy, and  Ryan and Deci’s cognitive evaluation theory.

Students are likely to be intrinsically  motivated if they :

  • attribute their educational results to internal factors that they can control (e.g. the amount of effort they put in).
  • believe they can be effective agents in reaching desired goals (i.e., the results are not determined by luck).
  • are  interested in mastering a topic, rather than just rote-learning to achieve good grades.

In knowledge-sharing communities and organizations,  people often cite altruistic reasons for their participation,  including contributing to a  common good,  a moral obligation to the group,  mentorship or ‘giving back’.   In work environments, money may provide a more power full extrinsic factor than the intrinsic motivation provided by an enjoyable workplace.

In terms of sports,  intrinsic motivation is the motivation that comes from inside the performer.  That is, the athlete competes for the love of the sports.

EXTRINSIC MOTIVATION:

Extrinsic motivation comes from outside of the performer.   Money  is the most obvious example,  but coercion and threat of punishment are also common extrinsic motivations.

In sports,  the crowd may cheer the performer on,  and this motivates him or her to do well.  Trophies are also extrinsic incentives.   Competition is often extrinsic because it encourages the performer wo win nd beat others,  not to enjoy the intrinsic  rewards of the activity.

Social psychological research has indicated that extrinsic rewards can lead to over justification and a subsequent reduction in intrinsic motivation.   Extrinsic incentives sometimes can weaken the motivation  as well.  In one  classic study done by green and lepper,  children who were lavishly rewarded for drawing with felt-tip pens later showed little interest in playing with the pens again.

3.  SELF-CONTROL :

The self-control of motivation is increasingly understood as a subset of emotional intelligence,  a person may be highly intelligent  according to a more conservative definition (as measured by many intelligence tests),  yet unmotivated to dedicate this intelligence to certain tasks.   Yale School of Management professor “Victor Vroom’s “expectancy  theory” provides an account of when people will decide whether to exert self control to pursue a particular goal.

Drives and desires can be described as a deficiency or need that activates behaviour that is aimed at a goal or an incentive.   These are thought to originate within the individual and may not require external stimuli  to encourage the behaviour.  Basic drives could be sparked by deficiencies such as hunger,  which motivates a person to seek food;  whereas more subtle drives might be  the desire for praise and approval,  which motivates a person to behave in a  manner pleasing to others.

By contrast,  the role of extrinsic rewards and stimuli can be seen in the example of training animals by giving them  treats when they perform a trick correctly.   The treat motivates the animals to perform the trick consistently,  even later when the treat is removed from the process.

MOTIVATIONAL THEORIES

A. Drive reduction theories:

There are  a number of drive theories.  The Drive Reduction Theory grows out of the concept that we have certain  biological needs,  such  as hunger. As time passes the strength of the drive increases as  it is not satisfied   then as we satisfy that drive by fulfilling its desire,  such as eating the drive’s strength is reduced.  It is based on the theories of Freud and the idea of feedback control systems,  such as a thermostat.

There are  several problems,  however,  that leave the validity fo the Drive Reduction Theory open for debate.   The first problem is that it does not explain how Secondary Reinforcers reduce drive.   For example,  money does  not satisfy any biological or psychological need but reduces drive on a regular  basis through a pay check second-order conditioning.  Secondly,  if the drive  reduction theory held true we would not be able to explain how a hungry human being can prepare a meal without eating the food before they finished cooking it.

However,   when comparing this to a real life situation such as preparing food, one does get hungrier as the food is being made (drive increases),  and after the food has been consumed the drive decreases.   The only reason the food does not get eaten before is the human element of restraint  and has nothing to do with drive theory.  Also,  the food will either be nicer after it is cooked,  or it won’t be  edible at all before  it is cooked.

COGNITIVE DISSONANCE THEORY :

Suggested by Leon Festinger,  this occurs when an individual experiences some degree of discomfort resulting form an incompatibility between two cognitions.   For example, a consumer may seek to reassure himself regarding a purchase,  feeling,  in retrospect,  that another decision may have been preferable.

Another example of cognitive dissonance  is when a belief and a behavior are in conflict.  A person may wish to be healthy,  believes smoking is bad for one’s health, and yet continues to smoke.

B. NEED THEORIES :

1.   Need hierarchy theory

Abraham Maslow’s hierarchy of human needs theoryis the one of the most widely discussed theories of motivation.

The theory can be summarized as follows:

Human  beings have wants and desires which influence their behaviour.   Only  unsatisfied needs influence behavior,  satisfied  needs do not.   Since needs are many,  they are  arranged in order of importance,  from the basic to the complex.

The person advances to the next level of needs only after the lower level need I at least minimally   satisfied.

Further the progress up the hierarchy, the more individuality,  humanness and psychological health a person will show.

The needs, listed from basic (lowest,  earliest) to most complex (highest,  latest)  are as follows:

± Physiological

± Safety

± Belongingness

± Esteem

± Self  actualization

2.  HERZBERG’S TWO-FACTOR THEORY :

Frederick Herzberg’s  two-factor theory,  aka intrinsic/extrinsic motivation,  concludes that certain factors in the workplace result in job satisfaction,  but if absent,  lead to dissatisfaction.

The factors that motivate people can change over their lifetime,  but “respect for me as a person”  is one of the top motivating factors at any stage of life.

He distinguished between :

Motivatrs;  (e.g.  challenging work,  recognition,  responsibility)  which give positive satisfaction,  and

Hygiene factors; (e.g. status, job security,  salary and fringe benefits)  that do  not motivate if present,  but,  if absent,  result in demotivation.

The name  Hygiene factors is used because,  like hygiene, the presence will not make you healthier,  but absence can cause health deterioration.    The theory is sometimes called the “Motivator-Hygiene Theory”.

3.  Alderfer’s ERG theory :

Clayton Alderfer,  expanding on Maslow’s  hierarchy of needs,  created the ERG theory (existence,  relatedness and growth).  Physiological and  safety,  the lower order needs,  are placed in the existence category,  while love and self esteem  needs  are placed in the relatedness category.  The growth category contains our self-actualization  and slef-esteem needs.

4.  Self-determination theory:

Self-determination theory,  developed by Edward Deci and Richard Ryan,  focuses on the importance of intrinsic motivation in driving human behavior.  Like Maslow’s  hierarchical theory and others that built on it,  SDT posits a natural tendency toward growth and development.  Unlike these  other theories,  however,  SDT does not include any sort of “autopilot”  for achievement,  but instead requires active encouragement from the  environment.   The primary factors that encourage motivation and development are autonomy,  competence feedback,  and relatedness.

C.  COGNITIVE THEORIES

1.  Goal-Setting Theory

Goal-setting theory is based on the notion that individuals sometimes have a drive to reach a clearly defined  end state.   Often,  this end state is a reward in itself.   A goal’s  efficiency is  affected by three features:  proximity,  difficulty and specificity.  An ideal goal should present a situation where the time between the initiation of behaviour  and the end state is close.  This explains why some children are more motivated to learn how to ride a bike than mastering algebra.  A goal should be moderate, not to hard or too easy to complete.  In both  cases  most people  are not optimally motivated,  as many want a challenge (which assumes soe kind of insecurity of success).

At the  same time people want to feel that there is a substantial probability that they will succeed.   Specificity concerned the description of the goal in their class.  The goal should be objectively defined and intelligible for the individual.    A classic example of a poorly specified goal is to get the highest possible grade.   Most children have no idea how much effort they need to reach that goal.

Douglas Vermeeren, has done extensive research into why many people fail to get to their goals.  The failure is directly attributed to motivating factors.   Vermeeren states that unless an individual can clearly identify their motivating  factor or  their significant and meaningful reasons they wish  to attain the goal,  they will  never  have the power to attain it.

2.  Models of  Behaviour change

             Social-cognitive models of behavior change include the constructs of motivation and volition.  Motivation is seen as a process that leads to the  forming of behavioral intentions.  Volition is  seen as a process that leads from intention to actual behavior. In other words, motivation and volition refer to goal setting and goal pursuit,  respectively.  Both processes require self-regulatory efforts.   Several self-regulatory constructs are needed to operate  in orchestration to attain  goals.  An example of such a motivational and volitional construct is perceived self-efficacy.  Self-efficacy is supposed to facilitate the forming of  behavioral intentions,  the development of  action plans,  and the  initiation of action.   It can support the translation of intentions into action.

3.   Unconscious motivation

Some psychologists believe that a significant portion of human behavior is energized and directed  by unconscious motives.  According to Maslow, “Psychoanalysis has often demonstrated that the relationship between a conscious desire and the ultimate unconscious aim that underlies it need not be at all direct.”   In other words,  stated motives do not always match those inferred by skilled observers.  For example,  it is possible that a person can be accident-prone because he has an unconscious desire to hurt himself and not because he is careless or ignorant of the safety rules.  Similarly,  some overweight people are not hungry at all for food but for attention and love.   Eating is merely  a defensive reaction to lack of attention.  Some  workers  damage more equipment than others do because they harbor unconscious feelings of aggression toward authority  figures.

Psychotherapists point out that some behavior is so automatic that the reasons for it are not available in the individual’s conscious mind.  Compulsive cigarette smoking is an example.  Sometimes maintaining self-esteem is so  important and the motive for an activity is  so threatening that it is simply not recognized and,  in fact,  may be disguised or repressed.  Rationalizatioin,  or “explaining away”,  is one such disguise,  or defense mechanism,  as it is called.   Another  is projecting or attributing one’s own faults to other.  “I feel I am to blame”,  becomes  “it is her fault;  she is selfish”.  Repression of powerful but  socially  unacceptable motives  may result in outward behavior that is the opposite of the repressed  tendencies.  An example of this would be the employee who hates his boss but overworks himself on the job to show that he holds him  in  high regard.

Unconscious motives add to the hazards of interpreting human behaviour  and, to the extent that they are present,  complicate the life of the administrator.   On the other hand, knowledge that unconscious motives exist  can lead to a more careful assessment of behavioral  problems.  Although few contemporary psychologists deny the existence of unconscious factors, many do believe that these are activated only in  times of anxiety and stress,  and that in the  ordinary  course of events, human behavior – from the subject’s point of view – is rationally purposeful.

Intrinsic motivation and  the 16 basic desires theory :

Starting from studies involving more than 6,000 people, Professor Steven Reiss has proposed a theory that finds  16 basic desires that guide nearly all people behavior.

The desires are:

  1. Acceptance,  the need for approval
  2. Curiosity,  the need to thin
  3. Eating,  the need for food
  4. Family, the need to raise children
  5. Honor, the  need to be loyal to the traditional values of one’s Clan/ethnic group.
  6. Idealism,  the need for social justice
  7. Independence, the need for individuality
  8. Order, the need for organized,  stable,  predictable environments
  9. Physical Activity, the need for exercise
  10. Power, the need for influence of will
  11. romance
  12. Saving, the need to collect
  13. Social Contact,  the need for friends (peer relationships)
  14. Status,  the need for social standing/importance
  15. Tranquility, the need to be safe
  16. Vengeance,   the need to strike back.

In this model,  people differ in these basic desires.  These basic desires represent intrinsic desires that directly  motivate people behaviour,  and not aimed at indirectly satisfying other desires.  People may also be motivated by non-basic desired,  but in this case this does not relate to deep motivation,  or only as a means to achieve other basic desires.

The Advantages of Motivation

Many experts have taken into consideration the very role that motivation has for creating positives situations and last but not least for creating personalities.  Indeed,  the procedures that motivation uses in order to accomplish its goals  are based on the actual aims of the parts involve in the process.

Motivation  as a general concept can be classified in function of numerous factors.  However,  the factors that discussed here are the  ones regarding self motivation or motivation achieved by other people.  These two main categories in which this technique can be divided at some extent include the premises  of a preliminary classification.  However,  we will take them in turns and discuss the as they are.

First  of all,  we will take the self  motivation which is a very important feature of this great concept. Self motivation is the very basis of creating self awareness and of treating yourself with respect and recognition.   This technique is very beneficial as there are many people who have problems with their self awareness and for them,  self motivation can be  the only  way by which they can  get over  their issues of personality.  Self motivation is the solution for people to get rid of their inner problems and to treat themselves in a way that would bring them great  satisfaction,  both on the personal and on the professional plan. Hence,  we may conclude that self motivation is indeed a very important technique to take into consideration when you want to perfect yourself and especially to perfect your opinion about yourself.

By using the procedure of motivating yourself you will not only feel very fulfilled and content with yourself, but you will also feel as if you   are in perfect harmony with the universe that surrounds you and with all its elements.    These are just some of the concepts that scientists consider suitable for defining the idea of self motivation.

Besides that,  we may also take into consideration the situation in which other people motivate you or on the contrary,  you  motivate them.  This is the second  image that motivation takes and that is the feature of it that describes motivating other people.   It is also very beneficial and by using this technique we may even say that people are very likely to achieve that interpersonal  interaction between them and the  ones the motivate or by whom they are motivated.

Efficient work,  a positive way of thinking, inner welfare,  these are just some of the advantage that motivation brings for the people who use it.   The only problem put into discussion is the “how we should  do it”  part.   This is not difficult in fact,  as there are numerous courses and publications that teach people the most commonly used procedures of motivation and last but not least we must take into account  the existence and the effectiveness of motivational speakers who also have a ey role in the overall process of motivating people and of teaching them the basic methods of motivation.

The Disadvantages of Motivation :

Motivation may sometimes become habituated in a way that employees do not work until a kind of motivation is given to them.  Motivation in the form of training when given to the employees may have  some  expenses  which the organization should be ready in taking these certain expenses.

Techniques of Motivation :

Plan to  succeed :

Successful people are goal oriented.   They plan their goals,  then work in incremental steps to achieve those goals. Your goals need to be specific,  realistic and achievable.   Visualize your goals so that they become real,  then write them down and keep them some where   as a daily reminder of what it is you’re aiming for.

To stay motivated,  you  need to feel inspired and excited about what you are aiming to achieve.   If you can’t  get excited about your success goals,  you’ll never find the inspiration and motivation you need to take action to change your life.

The longest journey  begins with a single step,  so plan  on adding one new  positive step to your daily routine each day to move you towards your goal.  Adding  one positive step each day will  help you take control of your future and rid you or past negative habits.

Set aside 15 minutes each day to review your goals and the progress  you have  made.   Measuring your progress will keep you inspired to achieve the results you want and help you recognize problem areas that may need work.  Acknowledging your achievement is a way of patting yourself on te back for a job well done.

Believe in the  possibilities.   Don’t allow your fears to stand in the way of your future success.   Acknowledge the fact that everyone feels fear when they step outside their comfort zone.   As the old adage says,  “Feel the fear,  then do it anyway!”

Thinking  your way to success

            Successful  people believe in themselves and their ability to succeed,  despite the setbacks,  obstacles  and failures they will have encountered along the way.    The  road  to success is littered with those who fell at the first hurdle and didn’t have what it takes to get up again.

Accept the fact that you will fail,  may be more than once,  and in many different ways.    Believing  that you will achieve your goals without setbacks is unrealistic and a recipe for failure.  Successful people turn the negative events that are sure to occur into learning experiences,  then they adjust  accordingly and move on.

To be motivated you have to be positive.

Sure, we all have days when even  getting out of bed feels like a drag,  but hitting the “Snooze”  button on the  alarm is not going to get you to where you want to go.  Being positive puts you in control of your own destiny,  so when you understand that only YOU  can control your future you also understand that only YOU can control  the present.

On those days when it all seems too hard,  simply focus on what it is you’re aiming for and imagine  how exciting  it will be when you achieve your goals.

Let the excitement of realizing your dreams fuel your imagination,  and  from that you can power into your day.  Learn something new  every day.   The more you know,  the closer you’ll get to achieve your  goal in the time you’ve set yourself.  Information can help you  gain confidence,  dispel fear and give you the inspiration  and motivation you need to lead a better,  more fulfilling life.  Get your life right Staying motivated and achieving your goals is a whole lot easier if you can keep your focus.

Organize your workspace so that it creates a positive, stimulating  environment.  A cluttered workspace  creates a cluttered mind,  so take the time to clean up around you.

Make  your  workplace a happy place to  be by pinning your favorite quotation to the wall where you can see it,  or adding a  vase of fresh flowers to a table nearby – whatever brings a mile  to your face will keep you in a positive frame of mind and dispel any  negative thoughts that may  try to creep in.

An active mind requires an  active body and an active body requires a healthy lifestyle.   You can’t expect to operate at your peak if you don’t have the physical stamina to maintain the momentum.   That means  eating a  healthy diet, getting regular exercise and getting enough sleep.   Feeling positive about your physical well being has a tremendous impact on how you feel about achieving your goals.

Helping or hindering :

Surround yourself with people who inspire and motivate you to succeed.  Ask yourself if the people in your life are helping or hindering  you on your path to success,  then make any changes necessary.

You don’t have to go  it alone :

Share  the excitement of what you are aiming to achieve with those around you who will  root for you every step of the way.

Take time out each day to relax:

Switch off and spend time  doing an activity you enjoy (other than work!) – go for a walk, take a bike ride or simply spend quality time with your family.   Balancing work and play is an important part fo staying healthy,  happy and  motivated.

Learn to live your life with passion :

Appreciate all the you have around you and  how great it feels simply to be alive at this particular moment in time.   Yes, it’s important to keep your focus on the  goals  you wish to achieve,  but the journey can be as exciting and stimulating as the destination.   Keep your eyes open and enjoy the ride !

Values:

The employee’s attitudes and previous experiences affect the nature and amount of what  they learn.   The motivation you  use must fit a employee’s value system.   Employee’s have more interest in a subject that deals with goals they see as important in their lives.

Attitudes:

Attitudes consist of feelings for or against people,  objects,  or ideas.   Showing a positive attitude  about the subject you present can cause the student to want to learn.   Students have more desire to learn when instructors show an interest in what they teach.

Incentives:

Incentives or rewards can  stimulate motivation.  Incentives such as good grades,  awards,  or selection as a distinguished graduate motivate employees who want to achieve,.

Achievement:

Achievement is a strong desire,  a longing, an aim,  a goal,  or a desired objective.    To make an effort to succeed,  students must have a need to achieve at a certain level.

Although motivation is one of the prime tasks of instruction,  it is both the employees and the instructor’s responsibility.   The following techniques will assist you in developing motivational strategies to use when instructing:

Make the subject matter interesting .   Plan motivational strategies to keepthe lesson interesting.  A dull presentation causes employee to become bored,  restless,  and uninvolved.  A lack of response from the employee will affect the quality of your instruction.   As a result,  you may lose confidence and enthusiasm,  which,  in turn,  will have a negative effect on employee motivation.   To promote interest,  use a variety of materials while instructing.

Establish goals:

The goals of instruction come directly from the learning objectives.  Ensure that you present the objectives for each block of instruction so that employee will understand exactly what they are expected to be able to do  as a result of training.

Provide informative feedback:

Employee need feedback when they are trying to meet goals.  You can give either oral or written feedback,  but eb sure you give recognition for proper employee behavior and achievements.  Also be sure to point out employee errors and how to correct them.  Recognizing  good  performance and pointing our areas that need improvement contribute to effective learning.   Show interest in your students.   Give employee detailed feedback when they respond to a question or perform some task related to instructional objectives.    Feedback may make the difference between a student’s feelings of  success or Failure.  Always comment favourably on successful performance

Encourage participation :

You should be open to employee contributions and points of vie.   Employee’  brings many  different experiences to the learning environment.   Use these experiences to stimulate interest and add variety to learning.

 

FOR REGULAR UPDATES  AND QUERIES.email: msaidinesh@gmail.com  

WOMEN ENTREPRENEURS – MBA Notes

Women Entrepreneurs

introduction
Women Entrepreneurs may be defined as the women or a group of women who initiate, organize and operate a business enterprise. Government of India has defined women entrepreneurs as an enterprise owned and controlled by a women having a minimum financial interest of 51% of the capital and giving at least 51% of employment generated in the enterprise to women. Like a male entrepreneurs a women entrepreneur has many functions. They should explore the prospects of starting new enterprise; undertake risks, introduction of new innovations, coordination administration and control of business and providing effective leadership in all aspects of business.

Push-Pull factors and Women in business

Women in business are a recent phenomenon in India. By and large they had confide themselves to petty business and tiny cottage industries. Women entrepreneurs engaged in business due to push and pull factors. Which encourage women to have an independent occupation and stands on their on legs. A sense towards independent decision-making on their life and career is the motivational factor behind this urge. Saddled with household chores and domestic responsibilities women want to get independence Under the influence of these factors the women entrepreneurs choose a profession as a challenge and as an urge to do some thing new. Such situation is described as pull factors. While in push factors women engaged in business activities due to family compulsion and the responsibility is thrust upon them.

Till the turn of the century, man has enjoyed a dominant position. But change in position technological innovation and modern way of thinking can reduce the disparity between man and women, and bring about equality and equity between them, the need of the hour in women empowerment both through provision of employment and enterprise creation. Typologically, the former leader to endogenous empowerment and the latter give rise to exogenous empowerment.

Women entreprenurer’s have been making a significant impact in all segments of the economy in Canada, Great Britain, Germany Australia and US.

The areas choosen by women are retail trade,  restaurants, hotels, education, cultural,  cleaning insurance and manufacturing.

It is the group of women or single women running an enterprise or company in order to earn profit. Now days because of   women empowerment women are stepping-stone into the industries and are taking the place of men. Now a day’s women’s are running several business like beauty parlours, switching shops, boutiques, etc.

Women entrepreneurs may be defined as a woman or a group of women who initiate, organize and run a business enterprise. In terms of Schunpeterian concept of innovative entrepreneurs, women who innovate, initiate or adopt a business activity are called business entrepreneur.

The Government of India has defined women entrepreneurs based on women participation in equity and employment of a business enterprise. Accordingly, a woman entrepreneur is defined as an enterprise owned and controlled by a woman having a minimum financial interest of 51% of the capital and giving at least 51% of the employment generated in the enterprise to a woman.

They have made their marks in business because of the following reasons:

  • They want to improve their mettle in innovation and competitive jobs.
  • They want the change to control the balance between their families and responsibility and their business levels.
  • They want new challenges and opportunities for self fulfillment.

Role of women as an Entrepreneur’s:

1) Imaginative: It refers to the imaginative approach or original ideas with competitive market. Well-planned approach is needed to examine the existing situation and to identify the entrepreneurial opportunities. It further implies that women entrepreneur’s have association with knowledgeable people and contracting the right organization offering support and services.

2) Attribute to work hard: Enterprising women have further ability to work hard. The imaginative ideas have to come to a fair play. Hard work is needed to build up an enterprise..

3) Persistence: Women entrepreneurs must have an intention to fulfill their dreams. They have to make a dream transferred into an idea enterprise; Studies show that successful women work hard.

4) Ability and desire to take risk the desire refers to the willingness to take risk and ability to the proficiency in planning making forecast estimates and calculations.

5) Profit earning capacity:  she should have a capacity to get maximum return out of invested capital.

A Woman entrepreneur has also to perform all the functions involved in establishing an enterprise.These include idea generation, and screening, determination of objectives, project preparation, product analysis, determination of forms of business organization, completion of formal activities,  raising funds,  procuring men machine materials and operations of business.

Fredrick Harbiscon, has enumerated the following five functions  of a women entrepreneur’s :

  • Exploration of the prospects of starting a new business enterprise.
  • Undertaking a risk and handling of economic uncertainties involved in business.
  • Introduction of innovations, imitations of innovations.
  • Co ordination, administration and control.
  • Supervision and leadership.

In nutshell, women entrepreneur are those women who think of a business enterprise,  initiate it organize and combine the factors of production, operate the enterprise,  undertake risk  and handle economic uncertainties involved in running a business enterprise.

With education and training, the women have gained confidence to do all work, which was the prerogative of man and do it excellently, rather better than men. Over the years, the educated women have become ambitious, acquired experience and basic skills of competency and self-assurance.

 

Leadership Qualities

Some of the outstanding qualities of women entrepreneurs are as follows:

• Accept challenges

• Ambitious

• Drive

• Enthusiastic

• Hard work

• Patience

• Industrious

• Motivator

• Skillful

• Unquenchable optimism.

• Adventurous

• Conscious

• Educated

• Determination to excel

• Keenness to learn and imbibe new ideas

• Experienced

• Intelligent

• Perseverance

• Studious

Psychosocial Barriers

Although some women entrepreneurs have excelled in their enterprise, the fear of success haunts women in general. Some psycho-social factors impeding the growth of woman entrepreneurship are as follows:

1. Poor self-image of women

2. Inadequate motivation

3. Discriminating treatment

4. Faulty socialization

5. Role conflict

6. Cultural values

7. Lack of courage and self-confidence

8. Inadequate encouragement

9. Lack of social acceptance]

10. Unjust social-economic and cultural system

11. Lack of freedom of expression

12. Afraid of failures and criticism

13. Susceptible to negative attitudes

14. Non-persistent attitude

15. Low dignity of labour

16. Lacking in leadership qualities, Le., planning, organising, controlling, coordinating and directing.

The New Thrust

Earlier researches conducted indicate that several women are now willing to become entrepreneurs due to various factors. These factors can be broadly classified under two headings, namely, “Pull factors” and “Push factors.” Under the first category, the women “‘entrepreneurs choose a profession as a challenge and adventure with an urge to do something new, liking for business and to have an independent occupation. The other category of women takes up business enterprises to get over financial difficulties and responsibility is thrust on them due to family circumstances. However, the latter category forms a negligible percentage of the total women entrepreneurs. The new thrust given to the process of economic development of the country by the new dynamic leadership has created an allround enthusiasm and the new slogan of “March towards the twenty-first century” had gained popularity. But in this new enthusiasm a very vital sector of the society, which can contribute substantially towards the economic development of the country, is not given enough attention – women entrepreneurs. In fact the Harvard School experts feel that the basic quality of efficient management is futuristic outlook and a capacity to nurture and plan for the future or unknown. This comes naturally to women.

Therefore they feel that successful managers will be those who combine this feminist attribute of nurturing and futuristic planning with male – aggressiveness. But this inherent management talent of woman and her entrepreneurial skill go unrecognized and unaccounted, as it does not show profit or loss in monetary terms.

With the spread of education and new approaches/awareness, women entrepre-neurs are achieving higher level of 3Es, namely, engineering, electronics and energy, though the number of such units is not as large as it should be. But the very fact that women are putting up units to manufacture solar cookers as in Gujarat, small foundries in Maharashtra and T.V. capacitors in the industrially backward area of Orissa show that women if trained and given opportunities can venture in non-traditional industries. Even the so-called socially tabooed industrial activity of winemaking and selling is being done by women entrepreneurs in Mumbai. So today no field is unapproachable to the trained and determined modem Indian women.

Problems of Women Entrepreneurs in India

Women in India are faced many problems to get ahead their life in business. A few problems cane be detailed as;

  1. The greatest deterrent to women entrepreneurs is that they are women. A kind of patriarchal – male dominant social order is the building block to them in their way towards business success. Male members think it a big risk financing the ventures run by women.
  2. The financial institutions are skeptical about the entrepreneurial abilities of women. The bankers consider women loonies as higher risk than men loonies. The bankers put unrealistic and unreasonable securities to get loan to women entrepreneurs. According to a report by the United Nations Industrial Development Organization (UNIDO), “despite evidence that women’s loan repayment rates are higher than men’s, women still face more difficulties in obtaining credit,” often due to discriminatory attitudes of banks and informal lending groups (UNIDO, 1995b).
  3. Entrepreneurs usually require financial assistance of some kind to launch their ventures – be it a formal bank loan or money from a savings account. Women in developing nations have little access to funds, due to the fact that they are concentrated in poor rural communities with few opportunities to borrow money (Starcher, 1996; UNIDO, 1995a). The women entrepreneurs are suffering from inadequate financial resources and working capital. The women entrepreneurs lack access to external funds due to their inability to provide tangible security. Very few women have the tangible property in hand.
  4. Women’s family obligations also bar them from becoming successful entrepreneurs in both developed and developing nations. “Having primary responsibility for children, home and older dependent family members, few women can devote all their time and energies to their business” (Starcher, 1996, p. .The financial institutions discourage women entrepreneurs on the belief that they can at any time leave their business and become housewives again. The result is that they are forced to rely on their own savings, and loan from relatives and family friends.
  5. Indian women give more emphasis to family ties and relationships. Married women have to make a fine balance between business and home. More over the business success is depends on the support the family members extended to women in the business process and management. The interest of the family members is a determinant factor in the realization of women folk business aspirations.
  6. Another argument is that women entrepreneurs have low-level management skills. They have to depend on office staffs and intermediaries, to get things done, especially, the marketing and sales side of business. Here there is more probability for business fallacies like the intermediaries take major part of the surplus or profit. Marketing means mobility and confidence in dealing with the external world, both of which women have been discouraged from developing by social conditioning. Even when they are otherwise in control of an enterprise, they often depend on males of the family in this area.
  7. The male – female competition is another factor, which develop hurdles to women entrepreneurs in the business management process. Despite the fact that women entrepreneurs are good in keeping their service prompt and delivery in time, due to lack of organisational skills compared to male entrepreneurs women have to face constraints from competition. The confidence to travel across day and night and even different regions and states are less found in women compared to male entrepreneurs. This shows the low level freedom of expression and freedom of mobility of the women entrepreneurs.
  8. Knowledge of alternative source of raw materials availability and high negotiation skills are the basic requirement to run a business. Getting the raw materials from different souse with discount prices is the factor that determines the profit margin. Lack of knowledge of availability of the raw materials and low-level negotiation and bargaining skills are the factors, which affect women entrepreneur’s business adventures.
  9. Knowledge of latest technological changes, know how, and education level of the person are significant factor that affect business. The literacy rate of women in India is found at low level compared to male population. Many women in developing nations lack the education needed to spur successful entrepreneurship. They are ignorant of new technologies or unskilled in their use, and often unable to do research and gain the necessary training (UNIDO, 1995b, p.1). Although great advances are being made in technology, many women’s illiteracy, strucutural difficulties, and lack of access to technical training prevent the technology from being beneficial or even available to females (“Women Entrepreneurs in Poorest Countries,” 2001). According to The Economist, this lack of knowledge and the continuing treatment of women as second-class citizens keeps them in a pervasive cycle of poverty (“The Female Poverty Trap,” 2001). The studies indicates that uneducated women donot have the knowledge of measurement and basic accounting.
  10. Low-level risk taking attitude is another factor affecting women folk decision to get into business. Low-level education provides low-level self-confidence and self-reliance to the women folk to engage in business, which is continuous risk taking and strategic cession making profession. Investing money, maintaining the operations and ploughing back money for surplus generation requires high risk taking attitude, courage and confidence. Though the risk tolerance ability of the women folk in day-to-day life is high compared to male members, while in business it is found opposite to that.
  11. Achievement motivation of the women folk found less compared to male members. The low level of education and confidence leads to low level achievement and advancement motivation among women folk to engage in business operations and running a business concern.
  12. Finally high production cost of some business operations adversely affects the development of women entrepreneurs. The installation of new machineries during expansion of the productive capacity and like similar factors dissuades the women entrepreneurs from venturing into new areas.

How to Develop Women Entrepreneurs?

Right efforts on from all areas are required in the development of women entrepreneurs and their greater participation in the entrepreneurial activities. Following efforts can be taken into account for effective development of women entrepreneurs.

  1. Consider women as specific target group for all developmental programmes.
  2. Better educational facilities and schemes should be extended to women folk from government part.
  3. Adequate training programme on management skills to be provided to women community.
  4. Encourage women’s participation in decision-making.
  5. Vocational training to be extended to women community that enables them to understand the production process and production management.
  6. Skill development to be done in women’s polytechnics and industrial training institutes. Skills are put to work in training-cum-production workshops.
  7. Training on professional competence and leadership skill to be extended to women entrepreneurs.
  8. Training and counselling on a large scale of existing women entrepreneurs to remove psychological causes like lack of self-confidence and fear of success.
  9. Counselling through the aid of committed NGOs, psychologists, managerial experts and technical personnel should be provided to existing and emerging women entrepreneurs.
  10. Continuous monitoring and improvement of training programmes.
  11. Activities in which women are trained should focus on their marketability and profitability.
  12. Making provision of marketing and sales assistance from government part.
  13. To encourage more passive women entrepreneurs the Women training programme should be organised that taught to recognize her own psychological needs and express them.
  14. State finance corporations and financing institutions should permit by statute to extend purely trade related finance to women entrepreneurs.
  15. Women’s development corporations have to gain access to open-ended financing.
  16. The financial institutions should provide more working capital assistance both for small scale venture and large scale ventures.
  17. Making provision of micro credit system and enterprise credit system to the women entrepreneurs at local level.
  18. Repeated gender sensitisation programmes should be held to train financiers to treat women with dignity and respect as persons in their own right.
  19. Infrastructure, in the form of industrial plots and sheds, to set up industries is to be provided by state run agencies.
  20. Industrial estates could also provide marketing outlets for the display and sale of products made by women.
  21. A Women Entrepreneur’s Guidance Cell set up to handle the various problems of women entrepreneurs all over the state.
  22. District Industries Centres and Single Window Agencies should make use of assisting women in their trade and business guidance.
  23. Programmes for encouraging entrepreneurship among women are to be extended at local level.
  24. Training in entrepreneurial attitudes should start at the high school level through well-designed courses, which build confidence through behavioral games.
  25. More governmental schemes to motivate women entrepreneurs to engage in small scale and large-scale business ventures.
  26. Involvement of Non Governmental Organisations in women entrepreneurial training programmes and counseling.