Boost Your Business With Rubber Wrist Bands

Rubber wrist bands can prove to be brilliant fashion accessories. One can easily get access to good quality bands at affordable prices. A recent study has shown that many companies purchase silicone bracelets to use them as giveaways to their customers. Silicone wristbands can also be referred to as wristbands, rubber wristbands, silicone bracelets and awareness wristbands.

Customized rubber bands have become effective tools for businesses to advertise and market their services and products. These can also be used for the online promotion of a business. Companies accommodate their business logos on the bands and use them as giveaways.

Rubber bracelets are available in the market in 4 distinct styles- colour-filled bands, printed, debossed and embossed. All these bands can be very well utilized for placing messages or logos. You can easily get access to different coloured bands in markets or on online stores. You can even merge two or more colours in a single band, which can be a swirl or a segment. Selecting a segment having six colours gives your wristband a rainbow like appeal.

Buying wristbands helps in saving your money and maintaining your budget. Considering the inflation, rubber wrist bands can prove to be a cost efficient form of promotion. Along with being affordable, these bands are mobile and durable too. By wearing these bands, people get a lot to learn about your company and your products. Many people love wearing a wristband as a fashion accessory which may include information about your organisation and its products.

If you are looking for an effective strategy to boost your business, then rubber bracelets or wristbands are a perfect answer for you. Many online shopping websites equip their users with these bands. They are not only cost efficient, but also get delivered fast. Bracelets and wristbands can also be used as wonderful gifts to gift to your friends and loved ones. Many people prefer wearing coloured bands matching their clothes.

Many teens use rubber bracelets to support their favourite teams. You can even see these teens wearing different coloured bands while playing their favourite sport. Different coloured bands are used to represent different teams.

While ordering your favourite wrist band, make sure that it is made of silicone. Silicone bands are non-allergic to skin and eco-friendly at the same time. They come in different widths and are suitable for all age groups. Different kinds of wristbands are becoming highly popular and they are now widely appreciated among young ones, but also in all other age groups.

Accounting Differences That Are Essentially of Relevance to Management

INTRODUCTION

Background

When you hear of the word ‘difference’, there is naturally an impression that comes through the mind of an individual. The impression is that of a factor that causes a shift from the normal. A shift from the normal in the sense that, it connotes that something unusual from the normal has taken place. This difference could either be of addition or of subtraction. This study goes to narrow itself only to differences that causes imbalances in the financial affair of a business going concern which could be of great concern to users of accounting information with particular reference to management.

The importance of management can never be overemphasized in the daily affairs of the running of an entity. This is as a result of the function it plays in the day to day administration of a business. Some of the functions of the management is to properly harness the various factors of production and distribution that is required of a going concern to sustain its existence; which are Land, Capital and Labour. These mentioned factors specifically require the management of a capable business manager to properly manage in other to get the desired profit making goal which an entity is originally established to attain. In the regards of managing an entity, the duties and responsibilities of the management is so enormous such that it has to break itself into bits and constitute different departments headed by a supervisors to help monitor and oversee the affairs of the business so as not to allow for lapses. These supervisors are charged with the responsibilities of reporting to a superior head which could either be the all-in-all (proprietor) or could either be the next to transmit the findings of other supervisors to the owners of the business which could sometimes be the Board of directors or the shareholders themselves, depending on the structure of the organization.

It is equally the duty and responsibility of the Business manager to be able to gather facts and figures emanating from the day-to-day financial running of the business to be able to make result oriented and informed decisions as regards the future of the entity if it is to remain a going concern for long. Some of these differences could be either significant or insignificant. However, this research seeks to look at these differences from eight different perspectives.

SYSTEMATIC DIFFERENCES

These are differences occasioned by some systematic underlying causes. Causes may arise where differences may not be large enough to be individually meaningful to the company, they may become significant if accumulated or aggregated over time. Hence, it is common for managers, auditors and users of accounting information to track the aggregated amount and directions of differences. For example an interest rate of 24.95% against an interest rate of 25% could be argued by a customer who pays zero tolerance to the most insignificant difference to be the same as 25%, whereas a customer who sees the importance of the smallest difference in a long run to be significant would realize that the 0.5% difference could be of great difference when accumulated in a long run. If it is established that the differences are systematic, it is easier to find the root cause. If the root cause is determined, then the solution is just around the corner.

MATERIAL DIFFERENCES

These are differences that have dire and significant consequences to the financial statement. They are considered too obvious to the eyes of users of accounting information. This is as a result of its significance to the overall report. These types of differences are particularly significant to management. They are treated as very important due to the effect it could cause if its cause is not properly tamed on time. It is considered material due to its effect of the entire financial report. Steps are however advised to be taken in this regards to nips its effects in the bud. When an accounting error changes the interpretation of the company’s results, it is important for management to quickly correct the error in a timely manner. In most cases it is advisable for the entity to reissue a restated version of its financial report.

UNEXPLAINED DIFFERENCES

Situations equally arise at times where some differences could occur without any explanation. These types of differences are of concern to management due to its venomous consequences in a long run when the cause of such an error that is more than inconsequential cannot be determined. In this regards, management is advised to conclude whether the error is an isolated occurrence (one-off) or if more undetected accounting differences could be embedded in the company’s financial statements. This is however considered a Herculean task when the main or original difference cannot be explained. In this situation, management is encouraged to attempt to determine the maximum amount of possible error with the help of statistical techniques and solutions.

DIFFERENCES OCCASSIONED BY FRAUD

Fraud related issues are treated as very important when it occurs due to its very damaging characteristics. Accounting fraud either relates to fraudulent financial reporting or to misappropriation of assets and liabilities of the business entity. Management however treat as very important any accounting differences no matter how infinitesimal it may appear. If such issues are given zero tolerance, it could go a long way to being of significant advantage to management and the business by extension. Fraudulent financial declaration involves the intentional manipulation and distortion of company’s financial records or financial report with the intention of misleading and covering up for some crimes or deficiencies. I.e. theft or misuse of company’s resources. It is necessary that managers or users of financial reports demands to be more concerned about the differences that could arise from fraud as such differences could be a symptom of bigger problems to occur which could damage the corporate existence, culture, reputation, and integrity of such entity. This could also cause the company to violate the laws and regulations that establishes its incorporation. The end product of such could be outright withdrawal of operating license.

BANK RECONCILIATION DIFFERENCES

Situation arises where differences are necessitated by bank reconciliation related instances. For example deposit in transits and outstanding cheques could bring about conflicting figures in the books of accounts of an organization. A situation where what is recorded in the organization’s books is a sharp contrast from what is obtainable from the records in the bank. These however are not differences with the intent to commit fraud. It is only a mis-normal which requires urgent steps to be taken to correct. However, if a deposit is made to the bank some time ago and still hasn’t showed up in the bank’s statements, management has a serious issue at hand. It means that the bank may have lost a deposit or made another mistake. In this situation, the likelihood of intent to commit fraud can not be completely ruled out as the deposit may have been diverted (stolen) before it reached the bank.

BUDGET RELATED DIFFERENCES

Variances in budget and actual numbers could equally be a major difference encountered by modern day managers when trying to balance the book of accounts. These differences are of grave importance to management especially if the difference is of large consequence. A budget can be described as a skeletal framework that a business is expected to follow to operate, reflecting the plans and strategies of the management for a certain period. Budgets are usually drafted on periodic basis. Management should learn to take with great concern when there is a contrast in actual revenue or expenses from the budget. For example if there short fall emanating from revenue from its expected, resulting in large variances, it is expected of management to cut down their expenses as quickly as possible.

ACCOUNTING MODULES RELATED DIFFERENCES

Computerization of accounting processes could bring about a conflict between accounting modules and the general ledger. This could be occasioned by wrong posting. For example, account payable or receivable module may show a total number that’s different from the on in the general ledger. These differences are often as a result of journal entries made of the general ledger and not reflected in the module or they could be as a result of technical hitches that prevented posting in the general ledger. These are possibilities that can not be ruled out in the practice of accounting. However a corrective action plan for such an anomalies could require huge adjustments to the general ledger and in reports which are often relevant to managers who may require the assistance of the computer experts to resolve the problem or to set up an alternative procedure to ensure that such problems do not occur again in the future. The consequences of differences occasioned by this could be very disastrous in nature if not properly managed on time.

INVENTORY

These types of differences are prevalent in manufacturing firms. Inventories could bring about differences if not properly managed by a store keeper. It is however advised that management conducts physical inventory count or stock taking on periodic basis and compare that with the numbers in the accounting system. Any significant difference observed between the physical count and the numbers in the books should be reviewed properly by management to nip issues in the bud. Theft could be a possibility when the number items in the store house are fewer than those in the accounting system. This also can equally be occasioned by damaged items or other form of losses. The reason for variances must be properly established in other to be able to monitor obnoxious trends. A situation where the count shows more items than what is in the accounting system, could be a signal that items haven’t actually been properly recorded in the system as it ought to have been or that there where returns that were not properly declared in the system.

RECOMMENDATION

It is advisable that all differences should be treated as very important no matter the size or effect on the financial statement. Efforts are however encouraged by management to be adopted to nip the ugly trend in the bud so as not to lead the organization into crisis. There must be a workable correct and preventive action plan put in place to forestall irregularities. The management should equally try and much as possible not to let their operations to be to cumbersome in nature and easily understandable by all and sundry involved in the success of the business as it has been established over time that lack of understanding of how a system or process operates have led to personnel doing what ought not to have been done which could amount to graves consequences in the long run.

Management is encouraged to avoid using instruments with technical deficiencies. E.g. Computers, Calculators etc. This could be a major factor in distorting facts. Once a working tool is considered not usable, or if its continuous use could bring about factual inefficiencies, it is advised that management disposes it off in other to work within the ambit of the required Service Level Agreement (SLA).

Advisable as well is for management to place in sensitive areas trustworthy individuals who would see themselves as trustees to the organization and hold integrity paramount especially in the accounting, procurement, store, sales and purchase department of any organization.

Implementing Digital Strategies

It is no secret that the world of business is evolving at what can only be called a blistering pace. What worked yesterday may not function today and it could very well be outdated tomorrow. There is perhaps no better example of this modernization than in the world of evolving digital strategies. Of course, implementing a successful digital strategy to meet the core needs of any business can be easier said than done. This is the primary reason why the task is generally outsourced to professionals in the industry; they appreciate the bespoke needs and infrastructure of unique companies. So, what are some of the most effective tips to follow when one needs to finally enter into the digital domain? Let’s take a closer look.

Internal Concerns
Just as any business is built from the ground up, we first need to consider how a digital transformation will affect the workplace. Will daily jobs be impacted by the use of digital tools? How much information will need to be stored in the cloud? Who will have access to this data and perhaps most importantly, how much training will need to take place in order to complete the transition? Identifying these variables will enable management to make sound decisions at the right times.

Support
In most cases, it is best to find a team of highly enthusiastic individuals that will act as “champions” in regards to your digital strategy. These players will offer the firm support which is necessary to begin the digital transition. As we are all aware, motivation within the business tends to be quite contagious. In turn, this will enable others to take an active interest in the change. It is also a good idea to create new roles within the company (Lead Digital Coordinator could be an example here). These roles will be attractive opportunities for those who are enthusiastic and astute; the exact type of personality that is ideal when entering the digital domain.

Understanding Approaches
Before actively implementing any digital strategy, it is important to appreciate which techniques are those that will be most attractive to the customers themselves. This will help to separate the business apart from competition which may still be lagging behind. Also, never forget that emerging technology is another critical factor. What may be considered state of the art today may very well not hold that title in the near future. Once the software and the approaches are determined, these need to be clearly communicated to all team leaders and stakeholders. Not only will this help to increase levels of inter-departmental accountability, but the strategies themselves will be much more functional as opposed to being handled piecemeal. Finally, clear communications will help you to determine the feedback from the customers. If a strategy seems not to be working, it can be changed before it becomes what could turn into a major issue.

Out With the Old?
Although the core operations of the business are not likely to change, embracing the digital world will likely lead to some modifications. For example, catering to a larger and more international client base within the virtual world could require office hours to be modified. As mobile apps increase client engagement, a larger CRM team could be required. The key takeaway here is that an organization needs to become streamlined in order for the end customer to obtain the best possible experience. Older top-down approaches may no longer work. Flexibility needs to be embraced within all teams. Communications are likely to become faster and thus, a centralized platform must remain in place to maintain control and cross-functional accountability.

Using Resources
So far, we have examined some of the basic methodologies that need to be embraced during the transition. Now, we need to look at execution. Keeping team structures in mind (IT, sales, marketing and finance), what resources are needed? For example, which demographic is likely to respond the best with this new strategy? How long will the product be in development before it becomes available to this buyer persona? How does a certain digital product or service resonate within this customer base? Not only will this enable the business to solidify their strategy, but all employees involved will be well aware of their discrete roles (a problem all too present within many companies that have recently undergone a digital shift).

Product Support
It is expected that any new digital product will come with its fair share of questions. Not only will these need to be addressed using in-house techniques meant for employees, but outbound and proactive customer support is vital. Of course, any such support structure should be in place well before the release date. This will also include the necessary training for the employees and any time frame should be built around the time it will take to develop a robust knowledge and support infrastructure. As there are so very many digital products within the marketplace, a business that lacks support is likely to lose valuable business while the customers will simply move on to a competitor.

Product Over Technology
The user cares more about the functionality of the product as opposed to the technology which it employs. In other words, user experiences will be the ultimate determinant as to which digital avenues the company should explore. Otherwise, what may very well be a novel service may fall upon deaf ears. In this sense, “the customer is always right” is still the best maxim. How functional is the product, when is it needed and which platforms will provide the best user experience? Understanding these metrics will enable the business to make the right decisions at the right time.

Moving into the digital arena is all but inevitable for most companies. While this shift is indeed profound, it does not have to be daunting. These simple tips will help any enterprise build the flexible framework that is necessary to meet and exceed the demands of their customer base. Employing these digital strategies will offer the foundation for any business to grow well into 2015 and beyond. Now is the time to plan to do that.

Top 10 Skills for Web Project Management

If you work in web project management today, you are most likely dealing with digital content. Some project managers come from design or development backgrounds, but more often than not, they have little training in the world of digital. As someone who comes from a design and development background, here are some tips and must-have skills that will make your team love and respect you.

1. Content Management – Let me first start by defining content management as I see it. I consider content management the ability to direct, write, edit and organize content for stakeholders on the project. These stakeholders could be your internal team, the client (and their team), marketing/press outlets, and much more. With the understanding that time is limited you must quickly create content for the project. This could be a simple project brief, client brief, or a quick change order. At times we are also pushed to the front-line to provide the end user with quality content. Lastly, a good project manager should be able to transform the words of a designer or developer (which are usually NOT framed to business or client language) into something compelling and actionable.

2. HTML/CSS – Many times Project managers come from the large business/corporate side of business. Web project management in my opinion is a complete 180degree turn from normal (non-technical) projects. The quickest way to understand what developers and designers go through on a daily basis is to throw yourself into the mix. Take the time to learn. Yes, learn! If you can learn about HTML, CSS, PHP, JS, and PS your team will love you. It will be apparent very quickly that you took the time to learn about their hardships and understand their daily tasks. More importantly by researching and getting your hands dirty within a project (you can do a quick website on your own) you will be able to “talk the talk” when you have a 1 on 1 with your developer. In short, by learning technical details you will quickly go from a paper pusher to a knowledgeable member of the team.

3. FTP/SSH & Tools – You might be saying “What in the heck is FTP/SSH” and if you are, this is my exact point of why you need to do some research. In short, get to know some of the tools that you will be required to use on the job as a web project manager. FTP & SSH are entry ways to a website in which you can manipulate files, upload images, and access code. Take the time to research some of the top tools on the web to get a holistic view on what is out there. For coding try Sublime text, for FTP try Filezilla, for Testing try VMWare, for Mindmapping try Xmind. Get my drift? Google is your friend in finding great tools to make your job easier.

4. Analytics, Reporting, Auditing – One of the major parts of your job will be reviewing information and making actionable plans moving forward. To do this you will need a chest of analytics tools to capture data and allow you to digest them easily. Google Analytics is the holy grail of web analytics, so start there. If you are looking for more advanced tracking feel free to review Moz, CrazyEgg, Clicktale, and Clicky. The skills involves distilling down the important information from these tools. I can guarantee that if/when your clients look at big data or traffic analytics they feel like they are trying to drink water from a firehose so take the time to review the data WITH them and reveal actionables.

5. Client Relations – I am pretty sure that “Hold My Hand” by Hootie and the Blowfish was written for Project Managers and their relationship with their clients. Put yourself in the clients shoes at all times. Do they know what a static block, widget, or footer.php file is? Probably not. So walk them through it so they can learn through. Keep in mind that most clients that you will come into contact with have a laundry list of tasks they must complete internally before they can focus on the eCommerce website or web application. Their main job is not to interact with you, so make each interaction simple and pain free. Send agenda’s before meetings, recap actionables after meetings, always set expectations (time/scope/budget), and follow up within 24 hours on current projects/tasks. When you can, ask “Can I help you take something off your plate to make your life easier?”. I promise, you’ll be their favorite PM soon.

6. Formal Project Management – So let me first preface this and say that typical project management training doesn’t map 1 to 1 with web project management. by the very nature of digital/web PM it is iterative and fast changing. You must be able to pivot quickly and move quickly. With that said, you can bring the knowledge of project management methodologies. SCRUM, Agile, and Waterfall are the three more common methodologies within our industry. Your team will depend on you to be the go to for the process so buy a book or read a white paper on these methods and decide AS A TEAM what method works the best for you.

7. Search Engine Optimization – SEO is a buzzword, I know, but PM’s must know the details surrounding this wave to protect your team, clients, and yourself from bad information. Everyone promises #1 ranking in Google and strong organic search for a fee. I encourage you to always ask one simple question, “HOW?” How will you do this for me or my client. Any large SEO firm will have documentation, use cases, and roadmaps, while the hacks and untrustworthy services will run and hide. As a PM take some time to review the high level details of SEO/SEM. Most likely you have someone on your team dedicated to SEO/SEM and you can even learn from them.

8. Marketing & Social Media – Digital marketing and social media is a fundamental part of web and eCommerce websites. Once you build a website, web application, or mobile app you MUST sell it. This isn’t field of dreams. This isn’t “If you build it, they will come”, you must inform your customer base and potential customers of your new product. Try and focus on your value proposition. Schedule a meeting with your marketing team and client to review what makes you different than every other service or product on the market. As a PM you must have the skills to understand all the media outlets and what offers the most ROI for the investment.

9. Presentation Skills – Having presentation skills is a no-brainer but it has to be mentioned. Being a powerful orator involves many years of getting up in from of people and speaking and I strongly believe that it is something can be taught to people that struggle in this area. If you struggle with speaking or presenting you must attack that issue head on. Schedule some internal meetings or trainings, get out in the community to speak or even talk with strangers more often. Lastly, focus on enhancing your knowledge within the industry of the web, internet, and project management and you will feel confident to speak your mind.

10. Leadership & Culture Building – Skill #10 is leadership and culture building within your organization. Like it or not as a project manager you are a strong figure and leader in your organization and your team will be looking to you for a few details such as decision making, project details, and strategic goals. While many company cultures are moving to a more free flowing communication stream and a flexible workflow to get things done. PMs need to be the deciding vote at times when your office is split 50/50 on a decision. In this case, listen to both sides, review the details and make your decision. It is important to provide a clear decision and direction to remove any roadblocks for your team. Lastly, leadership is also about challenging the status quo (by you and your stakeholders). Don’t be afraid allow people to speak their mind if they think there are better ways to do things. 10 people are ALWAYS smarter than one. Letting people have a say in their day to day work and their future is important to have a strong culture.

In my opinion these are the top 10 skills for a web project management.

If you have any comments or feedback on this post: “Top 10 Skills for Web Project Management”, I would love to hear them. If you have questions, feel free to respond as well and I will try and respond to all your inquiries. Please review all The Digital PM posts by going to the homepage.

Creating Effective People

As I read about the global war for talent I wonder about the employees who are not considered talent. While we are in great need of talent to drive leadership and fill pipelines for succession planning, we most often look outside of the organization to find these employees.

Baby boomers are leaving the workforce taking wisdom and experience with them. Generation X are next in line ready to take charge. So what does it take to push this lot of employees to become talent?

When I think of talent I think of a competent, passionate employee who is aligned in personal values to the organization’s values. This person is connected to his inner resources. He is able to tap into his sense of resilience and confidence to make the talent pool.

I know from many years of working in organizations that when employees feel this connection, they are able to go many steps ahead from where they first started. Any employee who chooses to make himself or herself better than what he or she is capable of today, has the potential to hit new targets never achieved before.

The first step is to want more. Once your unconscious mind is aware of this desire, creating the goal is an easy-enough step that follows. More importantly becoming the Steven Spielberg of your mind is of paramount importance. Designing the goal so that you see, hear and feel the goal creates a sense of “realness” of the goal to be achieved.

In order for an employee to be effective, they need to eradicate the negative emotions that may plague them from the past. Most people are not aware that we are born into family patterns that we take on without question. These become part of our make-up until we decide that a specific pattern may not work for us anymore.

Gender domination (males are better than females), sibling inequality (eldest gets more say than youngest), pushovers’ syndrome (no voice to stand up for yourself) are some examples I have come across, amongst the many that exist. If we put up with this when we are young we are probably going to put up with these same patterns when we go out into the workforce and when we form our families.

These behavior patterns usually have negative emotions attached to them. It could be that you are angry that you allow people to push you around or sad that you are treated as inferior because you are a woman. Negative emotions attach themselves to behavior patterns.

As soon as a person decides they have had enough and the behavior is not working for them any longer, they have the ability to eradicate it. This is how we create effective people. An employee who has abandoned his or her limiting behavior pattern, feels free as soon as the negative emotion is released.

Some clients have described this release as breaking down a brick wall that always existed in their mind. Others just have a light feeling and months later results produced show far superior targets have been achieved.

You might ask “how easy is it to create effective people?” My answer is “real easy” The person must want to do it. Following this there are a few processes carried out in a one-on-one or group session.

A high performer at a call center said she was referred to as a “top performer” because she was but deep inside her she felt she was nowhere near her best.

To her good fortune she worked for a company that decided to do some Neuro Linguistic Programming courses for their employees. Being a top performer she was included in these workshops. She was aware of a family behavior pattern that she felt did not work for her anymore. She wanted out.

She was part of a group of colleagues when we went through the facilitated session. She wrote to me a few months later to inform me how her life had transformed from a mere few days of processing her internal self. She was still a top performer but had overshot her previous targets and knew she was at her personal optimal performance.

Imagine having something like this happen to your employees? Wouldn’t you just love to see them fly way beyond their present performance? Your search for talent would not have to go far. You’d have motivated and passionate employees sprout up around you. The question for you now is “are you creating effective people in your company?”