[Resolved]  ICICI Credit Cards — NOT RESPONDING WHEN TRIED TO CONTACT SETTLEMENT DEPARTMENT.

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Developing a Formal Invitation
1. Place Samford's seal or logo at the top. (Seal use must be approved by President's Office.)

2. List the name(s) of the host(s), using the host's full name. Omit honorifics such as Dr., Mr., Mrs. and Ms. unless the person holds an official rank.

The host's title goes on a line beneath the host's name. When there are multiple hosts, the most senior person's name is listed first. The exception to

this rule is for the president and spouse (i.e., "President and Mrs. Andrew Westmoreland, " no title beneath).

3. Extend the invitation.
very formal: "request(s) the pleasure of your company at"
less formal: "cordially invite(s) you to"

4. List the event, such as "dinner, " a reception" or "lunch."

5. Give the purpose of the event (i.e., "in honor of...").

6. Give the date.
very formal: "Friday, the twelfth of February"
less formal: "Friday, February 12"

7. Write out the time (i.e., "at seven o'clock"). Add "in the morning, " "in the afternoon" or "in the evening" if the event title doesn't give an

indication. It would be unnecessary to list "in the evening" if the event is a dinner, for example.

8. Give the location, including street address. For campus buildings, state the room within the building and the building name. For an off-campus

property, state the full name, street address and city.

9. List any special instructions, such as "map enclosed."

10. List R.S.V.P. information. If you are issuing an invitation without a separate response card, print the address and telephone number of the person

handling replies. If you are supplying response cards, state "Response card enclosed." Do not list a cutoff date for a reply.

Formal Invitation Sample
J. Bradley Creed
Provost and Executive Vice President
requests the pleasure of your company
at dinner
in honor of Walter Isaacson
Friday, the twelfth of February
at seven o'clock
in the Grand Ballroom
The Club
One Robert Smith Drive
Homewood

map enclosed

R.S.V.P. Office o[censored]niversity Relations
[protected]



Semiformal Invitation Sample
President and Mrs. Andrew Westmoreland
cordially invite you
to dinner
to welcome the university's new provost
Friday, February 12
at 7 p.m.
in the Flag Colonnade
Ralph Waldo Beeson University Center

Response card enclosed


*************
1. Place Samford's logo at the top.

2. List the name(s) of the host(s). Omit honorifics such as Dr., Mr., Mrs. and Ms. unless the person holds an official rank. The host's title goes on a

line beneath the host's name. When there are multiple hosts, the most senior person's name is listed first. The exception to this rule is for the

president and spouse (i.e., "President and Mrs. Andrew Westmoreland, " no title beneath).

3. Extend the invitation.
semiformal: "cordially invite(s) you to"
informal: "invite(s) you to join us"

4. List the event, such as "dinner, " a reception" or "lunch."

5. Give the purpose of the event (i.e., "in honor of...").

6. Give the date (i.e., "Friday, February 12").

7: State the time (i.e., "at 7 p.m.").

8. Give the location, including street address. For campus buildings, state the room within the building and the building name. For an off-campus

property, state the full name, street address and city.

9. List any special instructions, such as "map enclosed."

10. List R.S.V.P. information. If you are issuing an invitation without a separate response card, print the address and telephone number of the person

handling replies. If you are supplying response cards, state "Response card enclosed." Do not list a cutoff date for a reply.

Informal Invitation Sample
Bobby Bryant
Dean of the McWhorter School of Pharmacy
and
Matt Kerlin
Minister to the University
invite you to join us
for a picnic lunch
to celebrate the new medical missions program
Friday, February 12
at 12 p.m.
at Ben Brown Plaza
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The term 'Assessment Centre' can be defined as ‘A method for assessing aptitude and performance; applied to a group of participants by trained

assessors using various aptitude diagnostic processes in order to obtain information about applicants' abilities or development potential.’

As you can see, this does not refer to a location, but to a process which is being increasingly used by organizations to assess staff, either as part of

the recruitment process or for internal promotion. Assessment Centres allow you to demonstrate aptitude and general skills related to the requirements of

the job.

The Assessment Centre develops a set of varied exercises which are designed to simulate different aspects of the work environment. These exercises

usually last from half-a-day to two full days. They are usually conducted at the employer's training facility or in facilities provided by the HR

consultancy, that have been contracted to design and conduct the testing.

Types of Assessment and Development Centre Exercise
The most common type of assessment centre exercises include:



An in-tray or in-basket exercise asks to assume a particular role as an employee of a fictitious company and work through the correspondence in your

in-tray. This exercise is designed to measure your ability to organize and prioritize work.

In a presentation exercise, you will be given a topic or possibly a choice of topics and asked to make a presentation of around ten minutes with five

minutes at the end for questions. This is designed to measure your presentation skills including your ability to organise and structure the information and

to communicate your points clearly and concisely.

Group discussion exercises involve you working with other candidates as part of a team to resolve a presented issue. These exercises are designed to

measure interpersonal skills such as group leadership, teamwork, negotiation, and group problem solving skills.

Panel interviews are regarded as a more objective means of assessing your suitability as you will be interviewed by between three and five people and

therefore the decision is not reliant on just one person's opinion. In addition, they are usually more structured than a one-to-one interview as the panel

need to assess all of the candidates against the same criteria.

The expense of conducting an assessment centre is usually somewhere between $1, 000 and $5, 000 per candidate. This tends to restrict their use to

situations where the costs can be justified in terms of preventing high expenses associated with unsuitable personnel e.g. high staff turnover or poor job

performance resulting in low productivity.

Assessment centres are seen as one of the most effective ways of identifying top candidates who'll get on well with others and fit in with the

organizations culture. According to the Chartered Institute of Personnel and Development's ‘Recruitment, Retention and Turnover 2004 Survey’, 34 per

cent of employers now use assessment centres when recruiting managers, professionals and graduates. This figure will inevitably grow as organizations

seek to make more accurate selection and promotion decisions.

The assessment centre method is utilized in a variety of settings including industry and business, government, armed forces, educational institutions, and

safety forces to select individuals for supervisory, technical, sales, or management positions. One recent trend is in the development of mass testing.

This is done by video-taping candidates as they perform various exercises and by using objectively scored exercises. This permits the assessment of a

much larger number of candidates per day as the scoring is done later and requires far less observation and administration.



Assessment centres are usually used after the initial stages of the selection process, because of the large amount of time and expense in conducting

them, and usually follow the initial job interview. Other measurements such as psychological tests may complement the selection process. They are

commonly held either on employers’ premises or in a hotel and are considered by many organizations to be the fairest and most accurate method of

selecting staff. This is because a number of different selectors get to see you over a longer period of time and have the chance to see what you can

do, rather than what you say you can do, in a variety of situations.

How are the Assessment and Development Centre Exercises Conducted?
Assessment Centres may be conducted by HR personnel within the employer company or by outside consultants. They are highly structured in their

design, application, and assessment procedure and are specifically adapted to assess factors such as your level of skills, aptitude and compatibility with

the organization's culture. Each test measures a range of indicators within these factors.

During each test, a group of observers will rate you on a range of set indicators, using a prescribed performance scale. Results are then cross compared

against the same indicators, which are measured in other tests. Following test completion, observers meet to discuss the test results and reach a group

consensus about your ratings.

At the beginning of the assessment, you should receive an initial briefing about the timetable of tests, location of rooms etc. Prior to each test, you

will be given instructions describing the exercise, your role, timeframe's, equipment etc. You will not be told in detail about the individual indicators

which will be measured. In addition, you are unlikely to receive feedback on your results, unless you have been successfully selected.
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-cooperation aggressiveness, LEADERSHIP does it make sense

Great attitude = great managers
The prime impetus to pursue a management specialisation is the fact that it is the most sought-after qualification today. There is no denying the

importance of management education, since it is the acquisition of this knowledge that instils a new confidence and poise, making individuals ready to

meet the challenges and opportunities of the corporate world.

But beyond the management concepts and skills that you imbibe at B-school, the one critical aspect that makes or mars your career is attitude. The

right attitude centres on the WIN principle -- Work hard, Innovate and Never give up.

Most people work for 25 to 30 years, which can be broadly divided into four phases of five to seven years each. The first lasts roughly five years

during which you learn to perform as an individual and as part of a team. Along the way you learn the significance of individual performance to the

results achieved by the team.

In the second phase, when the individual leads the team as a manager, he learns that he is as good as his team. If he is able to motivate his team to

put in 100 per cent, he can deliver 100 per cent. In the process, he hones his people management, relationship building, crisis resolving and

decision-making skills.

The third and fourth phases are the most critical, where the practical training and exposure of the first two phases are instrumental in helping you

withstand the pressures of the top and succeed.

In the fourth phase, you are expected to take care of the CEO: Customers, Employees and the Organisation/owners. That's where your experience,

foresight and understanding of the business model and its needs come into play. Remember, the top of the pyramid is narrow -- there's room only for

the best.

Aggressive
Aggressive managers who blame others when things go wrong are more likely to get promoted than managers who feel guilty and accept responsibility for

failure – or so many employees believe.

co-operative manager
What is a co-operative manager? The obvious answer is - the manager of a co-operatve. But, the question goes beyond the literal - it is a critical

question for all co-operatives because managers of co-operatives require co-operative specific commitments and skills.

In appointing managers who do not have the necessary co-operative commitment and skills, co-operatives are introducing a risk that could eventuate in

co-operative failure - as a co-operative if not as a business.

See also the paper: Why do co-operatives fail as co-operatives?

The boards of co-operatives are accountable to members for the managers they appoint. Boards have to recruit managers who have the competencies

required to manage the co-operative but also to reflect and reinforce co-operative values and principles.

A board must have a capacity to judge the required competencies of a manager for the co-operative- including how and when a co-operative manager

reflects and reinforces co-operative values and principles. There are general competencies required of all managers and these include:

Understanding and setting goals and targets.
Staff management.
Time management.
Financial management.
Making effective and efficient decisions.
Distinguishing between data and information.
Understanding the differences between causes and consequences.
Using technology effectively and efficiently.
Selecting and using advisers.
The management of conflict.
In addition, there are the specific competencies required for a co-operative that depend on the nature of the business, its developmental stage, its size

and its technological complexity.

Leadership
Leadership skills are needed at every level in the organization. Consistent training and approach from the executive level through managers and

supervisors will help all in the organization develop their leadership skills.
In any organization leadership qualities can always be expanded. With Six Sigma Plus one of the objectives is to expand the concept of leadership skills

beyond that of organizational position. Frequently people equate leadership with some title, position, or rank. Those who have demonstrated leadership

qualities frequently have these titles. Unfortunately there are cases where the title or position has been granted before the leadership skills have been

developed. This is an indication of lapse of leadership responsibility by those who place an unprepared person in a role requiring extensive leadership

skills. Too often very successful technical people are placed in roles with leadership requirement without being prepared. The best engineer is made

Engineering Manager or the best operator is made Supervisor. None o[censored]s would allow people untrained in Civil Engineering to design and build a major

highway. Neither would many o[censored]s willingly go into surgery with the person performing the operation having no training in medicine. Yet many of our

management and supervisory positions are filled with very competent technical people with little preparation for management or supervisor duties. In those

cases there are basically two options. One is to move along and hope that instinct and a good support structure will be adequate. The second option is

begin accelerated leadership training aimed at developing the leadership skills and knowledge base required for a leadership position.

One measure of success in leadership is the cultivation of employees. This employee empowerment and employee motivation makes leaders much more

effective and efficient

Theory Z is an approach to management based upon a combination of American and Japanese management philosophies and characterized by, among other things, long-term job security, consensual decision making, slow evaluation and promotion procedures, and individual responsibility within a group context. Proponents of Theory Z suggest that it leads to improvements in organizational performance. The following sections highlight the development of Theory Z, Theory Z as an approach to management including each of the characteristics noted above, and an evaluation of Theory Z. Realizing the historical context in which Theory Z emerged is helpful in understanding its underlying principles. The following section provides this context.

DEVELOPMENT OF THEORY Z
Theory Z has been called a sociological description of the humanistic organizations advocated by management pioneers such as Elton Mayo, Chris Argyris, Rensis Likert, and Douglas McGregor. In fact, the descriptive phrase, "Theory Z." can be traced to the work of Douglas McGregor in the 1950s and 1960s. McGregor, a psychologist and college president, identified a negative set of assumptions about human nature, which he called Theory X. He asserted that these assumptions limited the potential for growth of many employees.

McGregor presented an alternative set of assumptions that he called Theory Y and were more positive about human nature as it relates to employees. In McGregor's view, managers who adopted Theory Y beliefs would exhibit different, more humanistic, and ultimately more effective management styles. McGregor's work was read widely, and Theory Y became a well-known prescription for improving management practices.

But in the 1970s and 1980s, many United States industries lost market share to international competitors, particularly Japanese companies. Concerns about the competitiveness o[censored]. S. companies led some to examine Japanese management practices for clues to the success enjoyed by many of their industries. This led to many articles and books purporting to explain the success of Japanese companies. It was in this atmosphere that Theory Z was introduced into the management lexicon.

Theory Z was first identified as a unique management approach by William Ouchi. Ouchi contrasted American types of organizations (Type A) that were rooted in the United States' tradition of individualism with Japanese organizations (Type J) that drew upon the Japanese heritage of collectivism. He argued that an emerging management philosophy, which came to be called Theory Z, would allow organizations to enjoy many of the advantages of both systems. Ouchi presented his ideas fully in the 1981 book, Theory Z: How American Companies Can Meet the Japanese Challenge. This book was among the best-selling management books of the 1980s.

Professor Ouchi advocated a modified American approach to management that would capitalize on the best characteristics of Japanese organizations while retaining aspects of management that are deeply rooted in U.S. traditions of individualism. Ouchi cited several companies as examples of Type Z organizations and proposed that a Theory Z management approach could lead to greater employee job satisfaction, lower rates of absenteeism and turnover, higher quality products, and better overall financial performance for U.S. firms adapting Theory Z management practices. The next section discusses Ouchi's suggestions for forging Theory Z within traditional American organizations.

THEORY Z AS AN APPROACH TO MANAGEMENT
Theory Z represents a humanistic approach to management. Although it is based on Japanese management principles, it is not a pure form of Japanese management. Instead, Theory Z is a hybrid management approach combining Japanese management philosophies with U.S. culture. In addition, Theory Z breaks away from McGregor's Theory Y. Theory Y is a largely psychological perspective focusing on individual dyads of employer-employee relationships while Theory Z changes the level of analysis to the entire organization.

According to Professor Ouchi, Theory Z organizations exhibit a strong, homogeneous set of cultural values that are similar to clan cultures. The clan culture is characterized by homogeneity of values, beliefs, and objectives. Clan cultures emphasize complete socialization of members to achieve congruence of individual and group goals. Although Theory Z organizations exhibit characteristics of clan cultures, they retain some elements of bureaucratic hierarchies, such as formal authority relationships, performance evaluation, and some work specialization. Proponents of Theory Z suggest that the common cultural values should promote greater organizational commitment among employees. The primary features of Theory Z are summarized in the paragraphs that follow.

LONG-TERM EMPLOYMENT
Traditional U.S. organizations are plagued with short-term commitments by employees, but employers using more traditional management perspective may inadvertently encourage this by treating employees simply as replaceable cogs in the profit-making machinery. In the United States, employment at will, which essentially means the employer or the employee can terminate the employment relationship at any time, has been among the dominant forms of employment relationships. Conversely, Type J organizations generally make life-long commitments to their employees and expect loyalty in return, but Type J organizations set the conditions to encourage this. This promotes stability in the organization and job security among employees.

CONSENSUAL DECISION MAKING
The Type Z organization emphasizes communication, collaboration, and consensus in decision making. This marks a contrast from the traditional Type A organization that emphasizes individual decision-making.

INDIVIDUAL RESPONSIBILITY
Type A organizations emphasize individual accountability and performance appraisal. Traditionally, performance measures in Type J companies have been oriented to the group. Thus, Type Z organizations retain the emphasis on individual contributions that are characteristic of most American firms by recognizing individual achievements, albeit within the context of the wider group.

SLOW EVALUATION AND PROMOTION
The Type A organization has generally been characterized by short-term evaluations of performance and rapid promotion of high achievers. The Type J organization, conversely, adopts the Japanese model of slow evaluation and promotion.

INFORMAL CONTROL WITH FORMALIZED MEASURES
The Type Z organization relies on informal methods of control, but does measure performance through formal mechanisms. This is an attempt to combine elements of both the Type A and Type J organizations.

MODERATELY SPECIALIZED CAREER PATH
Type A organizations have generally had quite specialized career paths, with employees avoiding jumps from functional area to another. Conversely, the Type J organization has generally had quite non-specialized career paths. The Type Z organization adopts a middle-of-the-road posture, with career paths that are less specialized than the traditional U.S. model but more specialized than the traditional Japanese model.

HOLISTIC CONCERN
The Type Z organization is characterized by concern for employees that goes beyond the workplace. This philosophy is more consistent with the Japanese model than the U.S. model.

EVALUATION OF THEORY Z
Research into whether Theory Z organizations outperform others has yielded mixed results. Some studies suggest that Type Z organizations achieve benefits both in terms of employee satisfaction, motivation, and commitment as well as in terms of financial performance. Other studies conclude that Type Z organizations do not outperform other organizations.

Difficulties in the Japanese economy in the 1990s led some researchers to suggest that the widespread admiration of Japanese management practices in the 1970s and 1980s might have been misplaced. As a result, Theory Z has also received considerable criticism. It is unclear whether Theory Z will have a lasting impact on management practices in the U. S. and around the world into the twenty-first century, but by positioning target research at the organizational level rather then the individual level, Ouchi will surely leave his mark on management practice for years to come.
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OverviewIn the search for organisational success, many business organisations have sought to adopt what appear to be successful Japanesemanagement methods. The leading theorist in this field is William Ouchi, who, drawing on earlier work, has described the Japaneseapproach to management as ‘Theory Z.’(a) William Ouchi, a Japanese American, has concerned himself with comparing Japanese management techniques withAmerican. Ouchi uses the term ‘Theory Z’ for firms which use Japanese methods adapted to the Western system. Suchorganisations display certain characteristics:
–workers and managers trust their superiors
–a much longer time horizon is the norm; the idea of short
-term profit is rejected in favour of long-term growth
–there is a team approach. Departments see their position within the organisation as a whole
–a caring, paternal management unhampered by unions, demarcation or professional prejudices
–generalised training. Managers learn the business, not just parts of it
–a flexible organisation structure
–collective values and company wide rewards
–slow, but known promotion–lifelong employment.
(b) Theory Z requires an emphasis on interpersonal skills and group and team working; decisions are based on consensus, but, unlike in Japan from where the idea originates, responsibility remains with the individual.Trust and informal relationships are the keystone of Theory Z organisations, even though the formal hierarchy andorganisational traditional structure remain.It is often compared to Macgregor’s Theory Y approach in that it is seen as a more caring, sensitive and effective way ofachieving organisational success.The theory is dependent upon the demands of the organisational situation. Some organisations, as a consequence of theirproduct or service do not provide a suitable environment for the use of motivational techniques associated with Theory Z. Its strength lies in the fact that because of improved standards of education and changed social and political values, manyemployees have wider expectations from the workplace and expect to be consulted and to participate.The application of Theory Z will therefore depend upon:
–the organisational culture, structure and objectives
–the procedures and practices involved in the organisation
–the technology, environment and product or service
–the organisation’s history and attitude
–the level of satisfaction that already exists in an individual’s task or role

nature and type of budgeting ? explain zero base budgeting ?
nature and type of budgeting ? explain zero base budgeting ?

nature>

Determining what are the different types of budgeting could greatly facilitate the budgeting process. Types of budgeting depends on the use of the budget which could either be personal or business budgets.
Business and Personal Budgets
Budgeting is simply the creation of a plan to properly manage money. Budget usually covers a period of time for instance, one-year or five-year budget plan. It helps in the monitoring of cash flow so debt will be greatly reduced or totally eliminated.

What are the different types of budgeting? There are different types of budgeting depending on the use of the budget. For business use, Business Budget Types could come in the form of Capital Budgets, Operating Budgets and Cash Budget.


Capital Budgets
Capital budgets pertain to the allocation of money for investments and assets of the company. Operating Budgets are needed for the operational goals of the business such as the how much money to be allocated for the total operating expenses or determining the profit goals within the year. Cash Budget refers to the cash flow of the business – the cash in and cash out allocations.

Types of budgeting however do not only cater for business use alone. Another way to address the question 'what are the different types of budgeting' would be to include the Personal Budget Types. These budget types are directed towards the expenses and income of the family or even an individual. The type of budgets that fall under personal budget are : Envelope Budgeting and Spreadsheet Method.


Envelope Budgeting
Envelope budgeting is so-called because money is allocated by making an envelope for each expense that are normally incurred each month such as electricity or phone bills. The most common budgeting type however is the spreadsheet budgeting. In a standard spreadsheet, the expected income for the month is put at the top then expected expenses are subtracted from it. To do this in reverse, one can compute the total expenses in order to determine how much income the individual or family must come up with in order to cover all.

Knowing what are the different types of budgeting would greatly simplify the budgeting processes for both company and personal use. Having a budget could help one achieve optimal use of money and the resources at hand.
Zero-base budgeting
Zero-base budgeting does not use the previous year's budget or expenses in setting a new budget, since the company’s circumstances and finances may have changed. When building a budget from a zero base, every expense must be justified. This differs from only having to explain the amounts requested in excess of the funding received during the prior year or quarter. Zero-base budgeting helps you control spending and expenses because you build your budget from zero rather than building your budget on top of what was spent during the prior period funded


Introduction

I originally prepared this page for another client but felt that this was a better place for it!

From my researches over the years, I think you will find that this is the best summary article on the subject of zero base budgeting that you are likely to see.

Zero base budgeting hasn't exactly set the budgeting world on fire but it does have a lot to recommend it. Read this page and make up your own mind, though!

The Name Zero Base Budgeting!

The name zero base budgeting derives from the idea that such budgets are developed from a zero base: that is, at the beginning of the budget development process, all budget headings have a value of ZERO. This is in sharp contrast to the incremental budgeting system in which in general a new budget tends to start with a balance at least equal to last year's total balance, or an estimate of it.

Definition of Zero Base Budgeting (ZBB)

A method of budgeting whereby all activities are reevaluated each time a budget is set. Discrete levels of each activity are valued and a combination chosen to match funds available.
CIMA Terminology

This is not a very comprehensive definition; after all, it is not very descriptive as we'll see; and it does not mention the attainment of corporate objectives. Still, it's a beginning.

Objectives and Benefits of ZBB

What zero base budgeting tries to achieve is an optimal allocation of resources that incremental and other budgeting systems probably cannot achieve. ZBB starts by asking managers to identify and justify their area(s) of work in terms of decision packages (qv).

The way that ZBB forces managers to justify their work is by saying to them that unless and until they put forward a budget that more senior management can support, at least to a large extent, the budget will not be approved and funded. If ZBB is applied as literally as it is designed, then unjustified work simply stops, no matter who the boss is and no matter what work they are doing.

An effective zero base budgeting system benefits organisations in several ways. It will


Focus the budget process on a comprehensive analysis of objectives and needs
Combine planning and budgeting into a single process
Cause managers to evaluate in detail the cost effectiveness of their operations
Expand management participation in planning and budgeting at all levels of the organisation
(adapted from President Carter's memorandum referred to below)
Example of ZBB and Decision Packages

In order to explain ZBB, it's best if we work through an example. We'll keep the argument simple so that the concepts are clear.

Duncan plc consists of three departments A, B and C; and each department is in the process of preparing its budgets for the coming financial year. In addition to its mainstream work, each department is trying to secure funding for 2 new projects. However, only a total of two of these projects can be funded in addition to basic departmental funding, due to financing constraints.

A decision package is a plan or budget for each project or departmental plan. The decision aspect relates to each budget being decided on as being accepted or rejected; and it's called a package because, essentially, that's what it is: a whole package of initiatives, ideas and proposals. Table 1 illustrates decision packages for Department A.

It is also possible that the work of each department can be sub contracted by the organisation if it feels that an outside contractor can provide a better service than the internal departments. In practice, we see this kind of idea in the sub contracting of school meals, sub contracting refuse collection by Local Government … and the Xerox Corporation allowing its divisions to buy in payroll services and expertise from accounting organisations other than its own accounting department. For the sake of brevity, we won't pursue outsourcing here.