LM World

EMOTIONAL INTELLIGENCE Meaning and Definition of Emotional Intelligence             Emotional intelligence is an indicator of how mature we are in handling our emotions. The term ‘Emotional Ine1ligence’ (El) was used by Peter Salovey of Yale University and John Mayer of New Hampshire University for the first time to involve a set of personal and social abilities of an individual. Emotional Intelligence (El), often measured as an Emotional Intelligence Quotient (EQ), describes an ability, capacity, or skill to perceive, assess, and manage the emotions of one’s self, of others, and of groups. It is a relatively new area of psychological research.             According to Daniel Goleman, “Emotional intelligence is the and capacity for motivation and for managing emotions well in ourselves and in our relationships”. Self-Awareness             Primary component of emotional intelligence is self-awareness, or having a clear understanding of one’s emotions, strengths, weakne

Basic Emotions Basic emotions are regarded as discrete states of experience. Basic emotions are as follow Dislike: It implies antipathy toward something. Dislike is a general word, sometimes connoting an inherent or permanent feeling of antipathy for something to have a dislike for crowds. Anger: This is an emotion related to one’s psychological interpretation of having been offended, wronged or med and a tendency to react through retaliation. Envy: It is best defined as a resentful emotion that “occurs when a person lacks another’s (perceived) superior quality, achievement or possession and wishes that, the other lacked it”. Fear: It is the ability to recognise danger leading to an on front it or flee from it (also known as the flghor41ight response) but in extreme cases of fear (horror and terror) a freeze or paralysis response is possible. Distress: Stress for a long time having a negative impact on both, our wor

Minutes             Minutes are “a written document that accurately and objectively records the essence of a meeting.” They are useful because people can forget what was decided at a meeting if there is no written record of the proceedings. Minutes can also inform people who were not at the meeting about what took place. Minutes usually contain the main points of discussion, the conclusions reached, the recommendations made, and the tasks assigned to individual members and groups. They are not a verbatim record of the proceedings of a meeting.             The emotions and feelings, if any, expressed by members during the course of discussion are generally not recorded. A clear, concise, accurate and well-organised summary of the business transacted is all that is required. Minutes, in fact, are a special type of summary of what happened at a meeting. Types of Minutes Types of minutes are as follows: Minutes of Resolutions: In the minutes of resolution, only deci

WINDOW DRESSING Meaning and Definition of Window Dressing             The principles of accounting, all work to create accounts that are an accurate reflection of the financial position of the company. Profits are neither exaggerated nor underestimated; the balance sheet clearly distinguishes between the different kinds of assets. In contrast to this, there are techniques in accounting that can be used to present the financial position of the company in a favourable light. This is called window dressing. One example of a window dressing principle in accounting is ‘Goodwill’. Features of Window Dressing The features of window dressing are as follows: It is an act making a company look better financially than it really is. It is a technique in accounting that is used to present the financial position of the company in a favourable light. Window dressing links to the concept of branding, which is one of the key concepts in marketing. Reasons for W

Application of Motivational Theories             Motivation theories have several important practical applications, although some of their explanations and predictions are disputed. In applying motivation theories at workplace, both intrinsic and extrinsic aspects of the job must be considered. Intrinsic factors are directly related to the contents of a job while extrinsic factors are related to the context or environment in which the job is performed. Thus, various ‘applications of motivation theories are as follows: Rewards: Rewards play an important role in motivating employees. Companies reward their employees with both tangible goods, as well as praise. For example, a sales department may offer a monthly bonus to the highest earner. Not all tangible rewards come in the form of money. Some companies host free lunches, or give away company gear to good workers. Many managers choose to reward their best employees by simply praising them for a jo

Strategic Planning Process             The following eight steps should normally be followed in the marketing planning process: Planning and Organising the Marketing Planning Effort: This step requires: Defining specifically what the marketing planning, effort is expected to achieve, and to what use the marketing plans will be put; Developing an approach to carrying out the marketing planning function (including policies that will guide the planning effort);, and Determining a time-table for developing the marketing plans. Defining the Marketing Planning Premises: This step involves: Determining the key marketing factors (for example quality, price, customer, place, etc.) which will have a major influence on planning through a study of environmental factors (such as society, economy. government policy, industry, market) related to the market plan being developed as well as the company resources, opera

Decision Models             Decision models describe the relationship between all the elements of a decision the known data (including results of predictive models), the decision and the forecast results of the decision in order to predict the results of decisions involving many variables. These models can be used in optimization, a data-driven approach to improving decision logic that involves maximising certain outcomes while minimising others. Decision models are generally used offline, to develop decision logic or a set of business rules that will pràduce the desired action for every customer or circumstance.             The basis of a decision model is to improve the outcome of some well defined business decision, taking into account multiple variables. This model uses well-known data (9ften included historical decision-making data), the business decision and the probability of some result based on the given variables or factors. The results of these models are often u