Business Management

The recording of stock options is governed by Statement of Financial Accounting Standards # 123R. Booking the accounting entries is not the hard part; the hard part is valuing the options. ...

Developing a 3 to 5 year sales forecast is difficult enough when you factor how customer needs, cyclical fluctuations, and seasonal variations could dramatically change during that time span. A...

The Unique Identification Program (UID) is a global asset tracking system for hard products. UID tracking ensures asset location and operational quality data integrity for the life of the tracked...

Management Information Systems (MIS) employs the integration of information technology in achieving the needs and objectives of the general workforce, managers and their organization. The...

Implementing strategies to improve productivity must be an organization-wide initiative, involving managers from all disciplines -- product development, production, finance, marketing, human...

Even the most rigorous data analysis can lose its impact if presented in an ineffective manner. Good data analysis reporting requires an appropriate format that uses effective visuals and...

Management Information Systems (MIS) are processes used by companies to provide management with the best information for decision making. While many MIS in business today are computerized, some...

Statistical Process Control (SPC) is a process improvement and quality control strategy that uses statistics-based techniques to monitor processes and identify areas for improvement. Dr. Walter...

Adaptive management involves making decisions about how to use resources based on data that are often incomplete or uncertain. Adaptive management focuses on learning from previously performed...

Businesses, hospitals and government agencies often provide performance reports to the public. Performance reports compare performance attributes to annual objectives. Performance reports are...

Don’t let the complicated definitions and examples for calculating Standard Deviation stress you. Calculating Standard Deviation is relatively simple once you breakdown the process into easy to...

When you have collected data on your system or process, the next step is to determine what type of probability distribution one has.

Management reporting has evolved along with technology. What traditionally occurred as verbal reports to leadership within companies has grown into ever-more sophisticated analysis and...

Operational risk is most often associated with natural disasters, such as hurricanes and terrorist attacks. However, it is increasingly inclusive of the risks associated with a corporation's...

It is not unusual for a company to have all their departments run reports on various measurements they are responsible for. And week after week, month after month, the reports are run, submitted...

Six Sigma is a form of business evaluation and management strategy designed to improve business profits and efficiency. Many businesses use this method to improve their customer relations and...

Resource management involves effectively allocating an organization's resources. A resource management information system supports this effort by utilizing information technology to manage...

Event management involves applying project management practices to designing, planning and coordinating special occasions such as parties, fund raisers, sporting activities and other affairs....

Auditors need computer assisted audit tools and techniques (CAATT) to enhance capabilities and productivity. Many such tools and techniques can be implemented at minimal cost and relative ease,...

If you are an English or art history major who interacts with scientists, or you married an engineer or medical doctor, you may experience breakdowns in communication. You feel like you can't get...

ERP stands for Enterprise Resource Planning, a data-oriented process implemented by many companies to increase efficiency and save money, especially in production and production-related aspects of...

Increasingly, the trend in business and organizational management is decision-making based on solid data analysis. This means organizations need reliable data analysis and decision tools....

The field of strategic management has grown significantly as organizations find new and better ways to gather information about operational and financial performance. Two decades ago, strategic...

Comparing data is an important part of maintaining good records and presenting business or budget plans and statistical information. When you need to show the individual parts of a whole, whether...

Successful accountants are able to analyze business data and make appropriate decisions. From determining how to categorize expenses to assessing fraud control measures, decision-making is a...

Six Sigma is a business management strategy that uses data in order to eliminate issues, also called defects, within a company. Many business consulting companies use Six Sigma as a way to...

Radio Frequency Identification (RFID) is one of the most transformative technologies of our time, one that many of us are only marginally aware of. With surprisingly few components and a...

Safety reporting systems are used to manage the data surrounding accidents and injuries in the workplace and among clients of the organization. Each reporting system is customized to fit the...

Businesses engaging in e-commerce with their customers and other businesses must take precautions to ensure the privacy of their data, and the integrity of their communications. This includes...

A Management Information Systems (MIS) is the name given to computer systems which provide metrics in line with the goals and objectives of an organization. The development of an MIS consists of...

MSDS's are Material Safety Data Sheets used by organizations that work with hazardous materials. Material Safety Data Sheets provide employees information about the hazards of the materials with...

Marketing segmentation is a method that businesses use to maximize their sales by targeting separate markets with different selling propositions for each product. Managers in change of market...

Before the concept of management information systems was created, computer scientists were just programmers creating applications for science and math calculations. As computer usage evolved in...

Medical records ensure that patients receive the best medical care possible and that they are kept safe during treatment. Traditional paper means of medical record keeping can be burdensome to...

Using both primary and secondary forms of research methods, the organization is able to establish unstructured and structured data for analysis. Primary forms of data collection include surveys,...

With so much of the business world running on computer networks, it has never been more important for companies to build security into their networking infrastructures. Security policies are a...

Setting up a new business takes imagination, research, analytical skill, time and money. Whether you buy an existing business or start a new one from scratch, the steps you take must have a...

The data your business creates is its lifeblood; most businesses, if faced with even the temporary loss of their data, will grind to a halt until it is restored. A data redundancy strategy,...

Gap analysis is an easy and versatile tool that can be used by any business, regardless of size, location or industry. A type of brainstorming framework, gap analysis has the capability to...

Getting back in business quickly following a disaster can mean the difference between corporate success or economic collapse. Whether a natural or man-made emergency, the damage can be...

Analysis of variance, or ANOVA, is a statistical method used to compare data from multiple groups to determine whether differences exist. In Six Sigma, ANOVA provides information about differences...

Six Sigma is a systematic framework for managing business operations and improving processes and outcomes. It originated in the manufacturing sector but has expanded and is now commonly used...

The System Development Life Cycle (SDLC) is a series of six steps that a project team works through in order to conceptualize, analyze, design, construct and implement a new information technology...

Health care, like most industries, is challenged with finding ways to stay ahead of the competition. Data management and organization is a way to create value through business intelligence. Robust...

Benchmarking is the process of identifying the standard setters; what person or organization is doing something the best way. Benchmarking for best practices is aimed at identifying specific best...

Organizations across the world have realized the importance of effective organization and management, in order to push their profits. With the advancement in technology, new systems are being...

Every business has a worst-case scenario: A flood wipes out the data center. A hacker steals sensitive customer data. A virus assaults the email system. The consequences of a disaster can be dire:...

Computers and their programs have become integrated into all aspects of our lives. They provide us with information in an effective and efficient manner, and relieve us from many of the mundane...

Performance measurement is a way for firms to focus on one set of goals by creating metrics to track process improvements. Performance measures should be specific, measurable, reliable, accurate...

Document control procedures do not have to be complex. In fact, complexity adds to the probability that the document will not be adequately referenced. That said, managing information is one of...