The P-O-S-D-C Of Management – A Student Aid

Pupils need every available edge when it comes to studies, whether they know it or not. They should take advantage of every bit of information available, i.e., research articles, white papers, periodicals, magazines, and yes…blogs.

This wee bit of information should prove useful to the aspiring business management, marketing, accounting, secretarial sciences, business law, and/or programming student(s). These extra tools will aid the student in his/her preparation for successful management endeavors. Management students will first need to know the P.O.S.D.C.’s of management.

PLANNING: the process of setting objectives and determining what needs to be done to successfully accomplish the assignment-mission of an organization.

ORGANIZING: the process of task assignment, the coordination of resources, team structuring, and work activities for the organization.

STAFFING: the process of building the team by attempting to attract and retain qualified people to the organization.

DIRECTING: the process that provides leadership, arranges motivational opportunities, and builds a good working environment.

CONTROLLING: the process of establishing enterprise-wide standards, analyzing results, measuring actual performance and monitoring to see whether standards have been met. Controlling also includes making the right decisions and corrective actions, if needed.

Students should also become familiar with the process of management and what is required to become a manager. The best managers are well informed and are acutely aware of team needs. The needs of the team are met with the managerial support reflecting alternatives and suggestions for a team coordinated solution.

The process of management involves planning, organization, leading, and controlling the use of resources to accomplish target performance goals. “All managers, regardless of title, level, type, and organizational setting(s), are responsible for the four functions. However, they are not accomplished linear, step-by-step fashion.” John R. Schermerhorn Jr., goes on to say…”The reality is that these functions are continually engaged as a manager moves from task to task and opportunity to opportunity in his or her work.”

While agreeing with Mr. Schermerhorn as well as several other experienced, teachers, and gurus of this profession, the ultimate goal of a manager is to help the company/organization achieve its highest performance with the utilization of resources, human and material.

Henry Mintzberg wrote, “Although the management process may seem straightforward, things are more complicated than they appear at first glance.” Ever-present e-mail and instant messages are added to his list of executive/managerial operations.

Remember my message “IT and BI”, the non-hyperbole of the marriage between Business Intelligence and Information Technology? “BI and IT virtually, methodically, and basically go arm-in-arm.” Just look around you. Technology and Management is everywhere. But in order to ascend to the highest level(s) in management, one must begin with the P.O.S.D.C. of management.

Happy Studies.

Til next time…

How Do You Make Money With Affiliate Marketing?

There are two different ways you can make money from affiliate marketing. You can promote and sell digital products, physical products, or both.

Digital products include eBooks, video courses and membership websites that can be used online or downloaded directly by the customer.Physical products are delivered to the customer’s front door. For example, many people choose to promote items from Amazon to receive a commission. There are also many other retailers that will share a commission with you if you promote their products.

Does Affiliate Marketing Work?

The key to making money as an affiliate is to find a product that is in high demand, pays you a good commission and is backed by a company that takes care of their customers. That means finding the perfect affiliate products to promote. There are many networks and businesses that you can use to make money as an affiliate. These include ClickBank, Amazon Associates, CJ Affiliate by Conversant, AvantLink and ShareASale.

How Much Money Can You Make?

There are affiliate marketers who make thousands of dollars per month and more. This is a business that rewards effort. The more time, effort and resources you put into your affiliate marketing business, the better your likelihood of generating a sizeable income.

You can make money from affiliate marketing in just about every niche. Both digital and tangible products have unlimited income potential. However, you won’t have a massive volume of sales on your first day in affiliate marketing. Just like any business, it takes time to grow a volume of sales that gives you a large income.

What Products Sell The Best?

In the ClickBank marketplace you’ll see that all the products have a ‘gravity’ score. Products with higher gravity scores sell better than similar products with lower scores. So, for example, if you’re looking at two similar products to promote and one has a gravity of 70 and the other has a gravity score of 30, go with the product with the higher score.

If you’re selling products via Amazon, look for products that have lots of reviews and a 4-star customer satisfaction rating or higher. Affiliate marketing companies will show which of their products sell the best, as well as those with the highest commission rates.

You can choose the best digital or physical products to promote and you can increase your earnings potential. As long as you promote quality products that will impact your consumers positively you can make money from affiliate marketing.

Understanding WineShop At Home: Can You Really Make Money With WineShop At Home?

WineShop At Home began in 1995 and offers a large variety of wine and wine related products in addition to a business or income opportunity for those that would like to make an income stream marketing their company or products. However, can you really make money with WineShop? To answer this question, we will take a look at their compensation plan. I will also explain the products and give specific explanations of a few of them while also going over the cost it’s going to take to actually join the company itself and start making money all from home, if possible.

The Thing:

You guessed it, wine! Other than wine, they also offered wine related products and gifts. Categories of items offered by WineShop At Home are Wine Related Accessories, Gifts, Specials, Stemware, Personalized Wines, and of course, Wines. I will give a brief explanation of a few of the products offered by the company below.

  1. Adagio 2014 Sonoma Country Pinot Gris – You can get a bottle of this wine for $24.00 and flavors in the bottle consist of Mango, Pineapple, Grapefruit, Meyer Lemon, and Bergamot.
  2. Wine Country Chefs Apron – This apron is also $24.00 and is listed in the gift category. It comes in black and with the WineShop At Home Logo in addition to the slogan “Bringing The Wine Country To You” printed on the front.
  3. Artisan 5 Star “Sparkler Stem” – This is a set of 4 and cost $69.95 and is in the Stemware category. It is designed to develop persistent bubbles and forms a crown at the surface.

The Opportunity:

If you become involved with this company, you will be given the title “Wine Consultant”. Now is time for the big question! Can you really make money with WineShop At Home? In order to answer this, as mentioned before, we must take a look at their compensation plan. For this company, their compensation plan is pretty basic so let’s go ahead and get the ball rolling.

  1. Personal Commissions – As a wine consultant you will be able to earn a Base Commission of 20% and will be eligible to earn bonuses up to 35%.
  2. Team Commissions – As for most network marketing companies, you can build a team to leverage even more income. You can earn up to 44% commission from your teams generated sales and will be eligible to earn cash bonuses up to $3,500.

To Conclude, Yes, You Can Make Money With WineShop At Home!

The Cost:

Yes, there is a cost! It’s important to remember, if you get involved or affiliated with this company you are opening up your own business! All businesses require some type of start-up fee. However, in the industry of Network Marketing, Affiliated Marketing, Multi-Level Marketing, or whichever name you decide you enjoy more, it is generally much more affordable than starting a traditional company in which can range from $5,000 to $10,000 easily.

If you want to get involved with WineShop At Home, you must purchase one of the three kits offered!

  1. Mini Kit – $79.00. This kit includes a Wine Tasting Guide, Wine Tasting Training DVD, WineShop At Home Corkscrew, 3 Posi-Pours, 5 Host Planners, 10 Interest Forms, 5 Host A Wine Tasting Brochures, and a Guest Wine Tasting Tablet.
  2. Starter Kit – $149.00. This kit includes a WineShop At Home Logo Messenger Bag, 2 Bottles of Wine Club Select, A Wine Tasting Guide, A Wine Tasting Training DVD, WineShop At Home Corkscrew, 10 Order Boards, 3 Posi-Pours, 10 Interest Forms, 5 Host Planners, 5 Opportunity Brochures, and a Guest Wine Tasting Tablet.
  3. Premium Kit – $299.00. This kit includes an Insulated 6-bottle Wine Carrier Bag, A Launch Tasting Sampler, 4 Bottles of Wine Club Elite, Personalized Wine Sampler, WineShop At Home Apron, Wine Tasting Guide, Wine Tasting Training DVD, WineShop At Home Corkscrew, Wine Away, 15 Order Boards, 6 Posi-Pours, 20 Interest Forms, 10 Host Planners, Host Postcard Invitations, 10 Opportunity Brochures, and a Guest Wine Tasting Table.

Final Thoughts:

I’m not a big drinker. Matter of fact, I don’t drink expect maybe once a year. However, I would still consider marketing their products just for fun. I know a ton of people enjoy drinking, alcohol, and more specifically, wine! Therefore, I believe this company has a Massive Market! A massive market is very important to look for before joining any company like this and if it doesn’t have a massive market you will likely become frustrated before making any actual money!

The opportunity affiliated with the company is honestly pretty weak. They only offer two different payouts. I was unable to find any referral bonuses, any leadership bonuses, any Match-Up Bonuses, etc. This company started in 1995 and it doesn’t seem they have expanded their compensation plan very much which is a problem. I like companies and feel secure and motivated about companies that constantly expand. This does not seem like a constantly expanding company, at least in terms of their compensation plan. You can definitely make money with WineShop At Home but how much depends solely on two different payout systems.

The cost is nice. I like the fact that they have 3 different ways to begin. The price can be either expensive or inexpensive depending on your budget and what kind of business builder you are. In comparison, a traditional company has a much higher start-up fee regardless of which kit you choose from WineShop At Home. Additionally, in terms of Network Marketing the cost is also quite affordable and you are able to get a good amount of items with each kit.

*Dustin Hale is NOT affiliated with WineShop At Home or their business/income opportunity

Are Renko Charts a Better Way to Trade Forex?

Renko charts hold their own forte when it comes to traders using these custom chart types. Although the more popular candlestick or bar charts are still widely preferred, traders who trade the markets with Renko bricks tend to be more comfortable trading this chart type than switching to other forms. A quick look at some of the popular trading forums and one can see the increasing number of traders coming up with new Renko trading strategies.

What exactly is a Renko chart you might be wondering?

Well, for starters it is not a holy grail chart that will show you things that others don’t see. Renko charts are merely a graphical way of displaying price on the charts, in the form of bricks.

If you haven’t come across a Renko chart before, the first time you look at these charts can be visually captivating. If you have been around in the markets for a while, you might actually find some similarity between Renko and Heikin Ashi charts, at least as far as trends are concerned. But that’s where the difference ends. Renko bricks are unique because the charts are built using price, unlike other charts including Heikin Ashi where time is a factor. This unique feature makes the Renko bricks purely showing price and thus in a way trends as well. What captivates most traders about Renko charts is the fact that due to the lack of noise in the price bricks, it is a lot easier to trade. We all know the popular usage of the trend being your friend.

Renko boxes are widely used, not just in the Forex markets but also in stocks and futures as well. For a technical analyst who prefers to trade with price action, there is nothing better than this. From chart patterns to support and resistance levels, you can quite see everything that price is doing.

It is perhaps due to this feature that Renko charts are often used by traders, who rather unfortunately expect to see their trading turn around. But that is not always the case. If you are trading without understanding the concepts of the market dynamics, then no chart, existing or future inventions will be able to help you make profits with trading.

But why use a Renko chart type where there are tons of other regular conventional and un-conventional charts to use from?

As mentioned, it is purely a question of preference. For the astute technical analysis, Renko charts can offer a lot more information compared to a Heikin Ashi or a candlestick chart. This chart type can also be beneficial if you are not worried about time but focused on what price is doing. And yes, due to the nature of these charts, there is some key market information that can be easily seen, but could be missed when using one of the many conventional chart types.

Reasons why you could use Renko charts

Here are some of the main benefits of using Renko charts.

Price indecision: In traditional chart types, price indecision usually refers to prices ranging back and forth. While this is also evident on Renko charts where you can see these ranging price patterns with consecutive bricks being plotted up and down and prices heading nowhere, there is an edge however.

The advantage is that these consolidation or indecision zones are easier to spot. And if you are good at your technical analysis, you can look at past price action and figure out why the market is behaving the way it is.

Pull backs in a trend: There are tons of articles that talk about how to trade pull backs but the truth is that in real-time it can be hard to trade unless you know and are confident in your trading approach. With Renko, the pull backs in the trend are a lot easier to spot and don’t require much of subjectivity.

More trading opportunities: Whether you want to scalp the markets or whether you are in for the longer term, Renko charts can show you different ways to trade. From taking profits for every 10 ticks to riding the trends, or even counter trend trading, the charts make it all the more easier. It all depends on how big your Renko brick size is.

In conclusion, if you are looking for an alternative way to trade the markets, not just in hopes of finding the next holy grail, then renko charts might be worth your time, as long as you have an open-mind and willing to explore the possibilities.