Global Digital Store – Ebooks and Softwares

Tag: Data

Importance Of Cash Control

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Cash is a vital component of any profit-generating organization. An organization’s assets generate revenue, which in turn generates cash inflows. These cash inflows are used for several purposes: to pay creditors, compensate employees, reward shareholders, provide asset replacement, and provide for growth.

Cash is unique because it’s the single asset that is readily convertible into any other type of asset. Therefore, it’s also the most widely desired asset. However, cash is also the asset that is most susceptible to fraud and abuse. Therefore, management has to ensure that adequate controls and safeguards are in place to eliminate any unauthorized transactions with cash.

Fortunately, there are ways management can safeguard the cash generated by its organization. Each of the following methods will help an organization prevent losses due to human error or theft:

o Monthly bank reconciliation

o Segregation of duties over cash handling

o Accountability for cash shortages

o Authorized cash disbursement

o Internal audits

Monthly Bank Reconciliation. Monthly bank reconciliation will help ensure that the amount of cash generated by an organization is consistent with bank records. In addition, an independent review of the reconciliation by management will provide an additional safeguard. Independent verification of bank reconciliation acts as a check to make sure the reconciliation was done properly and ensures there is no abuse of the organization’s cash.

Segregation of Duties Over Cash Handling. Every organization must make sure that there is adequate segregation of duties over cash handling. Separating the duties of cash receipts and disbursements prevents an individual from committing and concealing embezzlement.

Accountability for Cash Shortages. Management should hold supervisors accountable for cash shortages. If supervisors know that they’ll be held accountable for a cash shortage, they’ll be motivated to keep a close eye on how cash is used within their departments.

Authorized Cash Disbursement. Management should allow cash to be disbursed only through checks issued by authorized signers, which will provide a method for tracking cash usage. In addition, your organization should require signatures on all checks in order for them to be valid.

Internal Audits. Every organization should arrange to have internal audits conducted on a regular basis. Whether the auditors come from an internal audit staff or an outside auditing firm, auditing an organization’s accounting system can identify how effective and accurate the operation is and whether or not any improvements need to be made.

ESTABLISHING A QUICKBOOKS CONTROL ENVIRONMENT

QuickBooks allows more than one user to access company files. (Conceptually, an unlimited number of users may have access to the company’s data files, but only five users may work with the data at the same time.) When multiple users will have access to the company’s QuickBooks data files, it generally is necessary to create a control environment that protects the data from unauthorized use. For example, some users may not need access to sensitive payroll data, while others may not need access to accounts receivable and sales information.

One of the best ways to prevent errors when posting transactions in QuickBooks is to limit access to specified users. If passwords and access permissions are not assigned, users have unlimited access to all areas in QuickBooks. When setting up QuickBooks, one user should be designated as the QuickBooks Administrator.

The QuickBooks Administrator has unlimited access to all areas of QuickBooks and assigns passwords and access permissions to other users. The name and password for the QuickBooks Administrator can be set up by selecting “Set Up Users” from the “Company” menu. The QuickBooks Administrator must be set up before any other users can be set up. Although QuickBooks does not require the use of passwords, the QuickBooks Administrator should set up and use a password since anyone logging in to the company’s QuickBooks files as the administrator has full access to all areas in QuickBooks. After setting up a name and password, the QuickBooks Administrator should click the “Closing Date” button in the “User List” window and enter the date through which books are closed in the “Accounting” preferences dialog box. The administrator can also password-protect the closing date (requires single-user mode). When this feature is enabled, QuickBooks requires users to enter the password before they can make changes to periods that have been closed.

The QuickBooks Administrator is the only user who can:

o Set up other users.

o Change other users’ access permissions.

o Set up a company file using the “EasyStep Interview.”

o Change company information (such as company name, address, fiscal year, tax year, tax form, and federal identification number).

o Change company preferences.

o Condense data.

o Import and export data.

o Apply for QuickBooks Merchant Account Services.

Note: Since the QuickBooks Administrator has the ability to password-protect the entire company’s files, has access to all accounting functions, and assigns access to all other users, the company should carefully consider whom to select as administrator. The person selected should have an understanding of the importance of this position on the internal control of the company. Some companies designate the controller or Chief Financial Officer as the QuickBooks Administrator because those individuals normally do not have direct interaction with the software.

The QuickBooks Administrator can set up additional users and specify the areas to which each person has access. To do so, select “Company” from the menu bar and “Set Up Users.” Then click the “Add User” button in the “User List” window. Assign a user name and password for the new user. Even though QuickBooks does not require the use of passwords, each user should be set up with a password that must be used when logging in to the company’s QuickBooks file. (An unlimited number of users can be added, but only five can have access to the company’s data file at the same time.)

After setting up the user name and password, the administrator then specifies whether the user will have access to selected areas of QuickBooks or all areas of QuickBooks. The user should not be given access to all areas of QuickBooks since that permission essentially establishes a second administrator allowing users to access the following:

o Sales and accounts receivable.

o Purchases and accounts payable.

o Checking and credit cards.

o Inventory.

o Time tracking.

o Payroll and employees.

o Sensitive accounting activities such as bank transfers, general journal entries, and online banking.

o Sensitive financial reports.

o Changing or deleting transactions.

o Changing closed transactions.

Note: Even if users need access to most of the preceding areas, they should not be allowed to change closed transactions.

Rather than giving users access to all areas of QuickBooks, the QuickBooks Administrator should give users access to selected areas. In that case, the QuickBooks Administrator specifies whether the user should be given no access, full access, or selective access to each individual area listed in the preceding paragraph. If the user is given selective access in a particular area, the QuickBooks Administrator also must specify whether the user can (a) create transactions only, (b) create and print transactions and forms, or (c) create transactions and create reports.

Sensitive Accounting Activities. Users generally should not be given access to sensitive accounting activities. Such activities include:

o Maintaining the chart of accounts.

o Working in the account register for balance sheet accounts.

o Reconciling accounts.

o Making journal entries.

o Using the “Accountant’s Review.”

o Transferring funds between accounts.

o Using online banking.

o Creating budgets.

o Printing registers.

o Condensing data.

Even if users are given full or selective access to sensitive accounting activities, they cannot create financial reports (with the exception of the “Payroll Report”) or change or delete previously recorded transactions. Those permissions must be assigned separately, as discussed in the following paragraphs. The QuickBooks Administrator generally should be the only user with access to sensitive accounting activities.

Sensitive Financial Reports. Users generally should not be given access to sensitive financial reports (such as the balance sheet, profit and loss reports, budget reports, cash flow reports, income tax reports, and audit trail reports). That access allows users to create all reports and graphs available in QuickBooks. However, even users with access to reports cannot change or delete transactions included in the reports. That permission must be assigned separately, as discussed in the following paragraph. The QuickBooks Administrator generally should be the only user with access to sensitive financial reports.

Changing and Deleting Transactions. Even if QuickBooks users have full access in a particular area, they cannot change or delete transactions in that area unless they are given that permission in the “Changing or Deleting Transactions” window. For example, a user with full access in the sales and accounts receivable area cannot change invoices or sales receipts unless they are given permission to change or delete transactions. However, even if users do not have permission to change or delete transactions, they can change or delete transactions they entered in the current QuickBooks session so that quickly identified data entry errors can be corrected. Users that are given permission to change or delete transactions can alter transactions only in areas in which they have access. For example, users that have access to the inventory area but not to the payroll area cannot alter payroll transactions even if they have permission to change or delete transactions. The QuickBooks Administrator generally should be the only user with permission to change or delete historical transactions.

If a user is given permission to change or delete transactions in areas in which they have access, the “Changing or Deleting Transactions” window also asks whether the user should be able to change or delete transactions recorded before the closing date. The QuickBooks Administrator always should deny users access to such transactions by selecting “No” in response to that question. Even when “No” is selected, users can view prior-period transactions in QuickBooks areas to which they have access. If “Yes” is selected and the administrator sets a password, the user will be required to enter the password.

Viewing Data. QuickBooks allows the QuickBooks Administrator to limit a user’s access to creating sensitive financial reports or creating and printing sensitive reports. Companies can use this feature to allow the Controller, Chief Financial Officer, or another person independent of the accounting function the ability to oversee the accounting operations. Because many companies frequently have small accounting staffs, this increased oversight can mitigate some of the risk to the system of internal control created by having limited segregation of duties.

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Source by Leigh Ann

Views: 0

January 22, 2020
e-Marketing Strategy: 7 Dimensions to Consider (the e-Marketing Mix)

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What is e-Marketing?

e-Marketing is still quite a controversial subject to talk about, since no one succeeded to unify the various theories around it; however there is one thing upon which there is no doubt – that e-Marketing first appeared under the form of various techniques deployed by pioneer companies selling their products via the internet in the early 90’s.

The frenzy around these new marketing techniques created by e-tailers and supported by the internet rapidly gave birth to a new dimension of what we knew as Marketing: the e-Marketing (electronic Marketing).

There are many definitions to what e-Marketing is, the simplest and shortest one being formulated by Mark Sceats: e-Marketing is Marketing that uses the internet as manifestation media. A working definition is that coming from a group of CISCO specialists: e-Marketing is the sum of all activities a business conducts through the internet with the purpose of finding, attracting, winning and retaining customers.

e-Marketing Strategy

The e-Marketing Strategy is normally based and built upon the principles that govern the traditional, offline Marketing – the well-known 4 P’s (Product – Price – Promotion – Positioning) that form the classic Marketing mix. Add the extra 3 P’s (People – Processes – Proof) and you got the whole extended Marketing mix.

Until here, there are no much aspects to differentiate e-Marketing from the traditional Marketing performed offline: the extended Marketing mix (4 + 3 P’s) is built around the concept of “transactional” and its elements perform transactional functions defined by the exchange paradigm. What gives e-Marketing its uniqueness is a series of specific functions, relational functions, that can be synthesized in the 2P + 2C+ 3S formula: Personalization, Privacy, Customer Service, Community, Site, Security, Sales Promotion.

These 7 functions of the e-Marketing stay at the base of any e-Marketing strategy and they have a moderating character, unlike the classic Marketing mix that comprises situational functions only. Moderating functions of e-Marketing have the quality of moderate, operate upon all situational functions of the mix (the classic 4 P’s) and upon each other.

1. Personalization

The fundamental concept of personalization as a part of the e-Marketing mix lies in the need of recognizing, identifying a certain customer in order to establish relations (establishing relations is a fundamental objective of Marketing). It is crucial to be able to identify our customers on individual level and gather all possible information about them, with the purpose of knowing our market and be able to develop customized, personalized products and services.

For example, a cookie strategically placed on the website visitor’s computer can let us know vital information concerning the access speed available: in consequence, if we know the visitor is using a slow connection (eg. dial-up) we will offer a low-volume variation of our website, with reduced graphic content and no multimedia or flash applications. This will ease our customer’s experience on our website and he will be prevented from leaving the website on the reason that it takes too long to load its pages.

Personalization can be applied to any component of the Marketing mix; therefore, it is a moderating function.

2. Privacy

Privacy is an element of the mix very much connected to the previous one – personalization. When we gather and store information about our customers and potential customers (therefore, when we perform the personalization part of the e-Marketing mix) a crucial issue arises: that of the way this information will be used, and by whom. A major task to do when implementing an e-Marketing strategy is that of creating and developing a policy upon access procedures to the collected information.

This is a duty and a must for any conscious marketer to consider all aspects of privacy, as long as data are collected and stored, data about individual persons.

Privacy is even more important when establishing the e-Marketing mix since there are many regulations and legal aspects to be considered regarding collection and usage of such information.

3. Customer Service

Customer service is one of the necessary and required activities among the support functions needed in transactional situations.

We will connect the apparition of the customer service processes to the inclusion of the “time” parameter in transactions. When switching from a situational perspective to a relational one, and e-Marketing is mostly based on a relational perspective, the marketer saw himself somehow forced into considering support and assistance on a non-temporal level, permanently, over time.

For these reasons, we should consider the Customer Service function (in its fullest and largest definition) as an essential one within the e-Marketing mix.

As we can easily figure out, the service (or assistance if you wish) can be performed upon any element from the classic 4 P’s, hence its moderating character.

4. Community

We can all agree that e-Marketing is conditioned by the existence of this impressive network that the internet is. The merely existence of such a network implies that individuals as well as groups will eventually interact. A group of entities that interact for a common purpose is what we call a “community” and we will soon see why it is of absolute importance to participate, to be part of a community.

The Metcalf law (named after Robert Metcalf) states that the value of a network is given by the number of its components, more exactly the value of a network equals the square of the number of components. We can apply this simple law to communities, since they are a network: we will then conclude that the value of a community rises with the number of its members. This is the power of communities; this is why we have to be a part of it.

The customers / clients of a business can be seen as part of a community where they interact (either independent or influenced by the marketer) – therefore developing a community is a task to be performed by any business, even though it is not always seen as essential.

Interactions among members of such a community can address any of the other functions of e-Marketing, so it can be placed next to other moderating functions.

5. Site

We have seen and agreed that e-Marketing interactions take place on a digital media – the internet. But such interactions and relations also need a proper location, to be available at any moment and from any place – a digital location for digital interactions.

Such a location is what we call a “site”, which is the most widespread name for it. It is now the time to mention that the “website” is merely a form of a “site” and should not be mistaken or seen as synonyms. The “site” can take other forms too, such as a Palm Pilot or any other handheld device, for example.

This special location, accessible through all sort of digital technologies is moderating all other functions of the e-Marketing – it is then a moderating function.

6. Security

The “security” function emerged as an essential function of e-Marketing once transactions began to be performed through internet channels.

What we need to keep in mind as marketers are the following two issues on security:

– security during transactions performed on our website, where we have to take all possible precautions that third parties will not be able to access any part of a developing transaction;

– security of data collected and stored, about our customers and visitors.

A honest marketer will have to consider these possible causes of further trouble and has to co-operate with the company’s IT department in order to be able to formulate convincing (and true, honest!) messages towards the customers that their personal details are protected from unauthorized eyes.

7. Sales Promotion

At least but not last, we have to consider sales promotions when we build an e-Marketing strategy. Sales promotions are widely used in traditional Marketing as well, we all know this, and it is an excellent efficient strategy to achieve immediate sales goals in terms of volume.

This function counts on the marketer’s ability to think creatively: a lot of work and inspiration is required in order to find new possibilities and new approaches for developing an efficient promotion plan.

On the other hand, the marketer needs to continuously keep up with the latest internet technologies and applications so that he can fully exploit them.

To conclude, we have seen that e-Marketing implies new dimensions to be considered aside of those inherited from the traditional Marketing. These dimensions revolve around the concept of relational functions and they are a must to be included in any e-Marketing strategy in order for it to be efficient and deliver results.

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Source by Otilia Otlacan

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January 22, 2020
Sports Figures, Drugs, and America’s Drug Problem

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There have been a lot of sports figures in the news recently as a result of drugs. Most recently, Alex Rodriguez has been accused of steroid use. This was a major story as he appeared to be one of only a handful of “clean” baseball heroes of recent times. Just prior to the Rodriguez scandal was the Phelps scandal. If you are one of the three people in the country that haven’t heard, he had been photographed smoking marijuana from a bong. And drugs and sports grabbing headlines doesn’t stop there, as recent articles on Fox Sports have discussed steroid use among the 70’s Steelers, and the recent arrest of Corie Blount, a former NBA player, who was allegedly caught with 29 pounds of marijuana. There was also the arrest of Jacksonville Jaguar former first round pick Matt Jones for cocaine possession early in last year’s football season.

An interesting article I read on the Phelps scandal was by sometimes controversial sports writer Jason Whitlock. In the article he challenges what some saw as a racial double standard, and even briefly discusses some of the issues with this country’s war on drugs. His article is related to some of the material I use in the course I teach on “The Psychology of Drugs and Drug Abuse.” I show highlights of a documentary called “American Drug War: The Last White Hope.” This film does a good job (although biased at times) of showing the dark side of this war on drugs.

As an example of America’s misperception of the drug problem, were you aware that tobacco kills more people than all other drugs combined, including alcohol? According to Hart, Ksir, and Ray, smoking is responsible for about 440,000 premature deaths per year. In comparison, alcohol is responsible for at least 20,000 accidental deaths per year, and up to 75,000 in this country when you combine accidental deaths (car accidents, boating accidents, falls, etc.) and deaths from the ill affects on the body (cirrhosis, heart disease, etc.). And these numbers far surpass the deaths from illegal drugs (10-20,000 per year). In fact, illegal drugs kill less Americans then the misuse of prescription drugs. (I had difficulty getting accurate data on prescription drug deaths as a result of misuse, but most articles and sources make it clear that prescription drug misuse causes more deaths per year than illegal drugs).

According to the documentary I mentioned earlier, some of the contributors to the war on drugs are the companies from the tobacco and alcohol industries. Additionally, this documentary uses interviews with former government officials to substantiate the claim that the war on drugs has been a colossal failure. Street drugs today are more plentiful, more pure, and cheaper. So what has the war on drugs accomplished? According to statistics, it has resulted in approximately 50% of the incarcerated population being jailed for non-violent drug crimes.

The point is that there are some real misconceptions about the substance abuse problem in this country. Perhaps we are paying attention to the wrong things. Rather than paying attention to cuts in funding for substance abuse rehabilitation, or to the incarceration of non-violent drug offenders, we seem much more concerned with our appointed heroes gaining an advantage in a sport they get paid huge amounts of money to play. Or in someone we have chosen to put on a pedestal, (a 23y/o at that) for letting us down by using marijuana at a college party. We are worried about street drugs, including marijuana, when prescription drug abuse is causing far more damage. And we wouldn’t think of making tobacco or alcohol illegal, despite the fact it causes far more health and welfare problems than illegal substances.

Don’t we contribute to the sports worship issue? Don’t we make sports figures heroes and role-models, perhaps even more so than more worthy role-models? Don’t we make sports the business it is today, by buying the jerseys, paying the ticket prices, watching the games on television, and making sports the market that it is? Aren’t we quick to dethrone someone who makes a mistake, as if perfection is the only standard we’ll accept?

I am not pro-drugs. I am not sure if I am pro legalization; I would have to give the issue more thought, and I’m not even sure I’m qualified to voice an opinion. But I am certain we are looking in the wrong directions when we look at drugs in this country. I am hoping it is time for a change: a change which finds all individuals seeking self actualization without the need for a substance; a time where compassion rules, rather than self-righteous indignation. I don’t believe many of us are going to get self actualized or become enlightened watching sports on television. But it is a nice distraction sometimes. How about that Superbowl?

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Source by William Berry

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January 15, 2020
The Best FOREX Price Action Trading Indicator – Shift Theory Ratio Price Action Analysis
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There is a new category of technical analysis available for trading the FOREX markets. It is called Shift Theory and this new technique is based on Shift Ratios that break down the three main types of chart conditions:
- Choppy Markets
- Up Trending Markets
- Down Trending Markets
What Shift Theory Ratios do is focus on the important data and ignores the data that is responsible for false signals and noise. The Shift Theory trading approach works better than any other form of technical analysis because it focuses on the science of price analysis. Most technical analysis today focuses on the closing price as the main piece of data that is analyzed. The main issue with that is the closing price is a moving target. A lot traders don’t realize that indicators are nothing more than measuring tools and they need to be treated that way. When it comes to measuring price you need stable data to get an accurate reading. I like to use an example of trying the weigh yourself on a scale. If you keep jumping around while you try to weigh yourself then it is almost imposable to get an accurate reading. That is exactly what the closing price does. It changes every time there is an uptick or down tick and that changes the reading of most indicators and that results in a lot of noise and false trading signals.

The Shift Trading Ratios rely on the undeniable facts of market trends. Some examples are:
- Prices on a chart can only go higher if they make a new high.
- Prices on a chart can only go lower if they make a new low.
- Choppy markets have bars that have a high percentage of overlap.
As a trader the Shift Theory Ratios are excellent tool to keep traders disciplined and sticking to sound trading principles. As a example we will cover the reading and indications Shift Ratios give in 3 types of market conditions:
- Choppy
- Up Trending
- Down trending
When market conditions are choppy the Inside Shift Ratio is the plot that measures that type of market condition. What the Inside Shift Ratio does is measure the current bar percentage that is overlapping the previous bar. All choppy markets have a high percentage of bars that overlap each other. It is easy to see on a chart but most indicators simply cannot measure these types of condition because they are based on the closing price.

If the market is up trending then the Upper Shift Ratio is the indicator that measures that type of price change. In up trending markets the bars on a chart should be making higher highs and that is a undeniable fact about upward moving markets.

During down markets the Lower Shift Ratio is the indicator that measures the strength of the down trend. This again is based on the undeniable fact that downward markets must make lower lows in order to go lower.

In the end these techniques work and the proof is in the back testing. A dirty secret many indicators have is they really don’t work and that is why nobody is willing to show any back testing results. So if you want to find the best FOREX trading indicator then you need to take a look at the Shift Theory Ratios. If you want consistent and proven results then as a traders you must focus on the important data and ignore the data that is responsible for signal noise and lag.

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Source by David Zielinski

Views: 0
January 11, 2020
Rolling Cash 5 – The Real Way to Pick 5-39

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Rolling Cash 5 is a lottery game in the state of Ohio. It replaced the old Buckeye 5 in October of 2004. The difference between the two is the range of numbers to choose from. Rolling Cash 5 allows you to choose 5 numbers from 1 to 39.

This game gives you an odd of 1 to 575,757 of winning, giving you more likelihood of winning than any other lottery game. Although winning the jackpot will not make you an instant millionaire, it is decent enough to give you a fortune. The jackpot starts at $100,000 which automatically rolls over to the next draw when not won. The jackpot prize is divided among winners with a liability limit of $1,000,000.

Just like any lottery games, this is randomly drawn. However, careful analysis of previously drawn combination and simple logic will increase your probability of winning in this game of chance. Think of it this way, you are more likely to win if you bet on a pattern that occurs majority of the time.

The analysis can cover the number of times in which a particular number or pair of numbers appeared in a winning combination for the last 12 months. With the data you have gathered, you can create your own combination to bet on. But before going through with the combination, you can cross check it with the data you have. This way, you will be able to determine the chances of having your numbers drawn.

Logical betting, on the other hand, dictates that you have a good mix of high-low and odd-even numbers. This will increase your chances of winning by 64 to 67 percent. You also need to consider number group strategies. Sway away from multiples (2 4 6 8 10), single number group (all single digits, 20’s, etc) or same last digits (3 13 23 33). Their probability of being drawn is less than 1%.

It is also important to take note of number sum advice. This is where you add up all your chosen numbers and making sure that the sum is between 75 and 125. A sum falling between these ranges is 70% more likely to be drawn. You can also take note of the frequency of each number being skipped. You can play those numbers as their absence increases the likelihood of it appearing on the next game; while numbers with repeated hits are likely to appear every other draw 51% of the time.

Ohio’s Rolling Cash 5 costs only $1 per wager that allows you to bet on your own or computer-selected combination. And the state of Ohio uses the earnings to fund various public services, from education to hunger centers. Knowing how to bet on Rolling Cash 5 not only helps various causes but also saves you money. With a little diligence and simple logic, you will avoid unnecessary losses brought by thoughtless betting. The game may be as random as any other game of chance, but there are always recognizable patterns that can help you increase your chances.

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Source by Chris S Malcolm

Views: 0

January 10, 2020
5 Customer Survey Questions

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Periodically, it makes sense to address your customer feedback mechanisms and receive some actionable, lived-experience insight into your operation’s strengths and weaknesses. Business leaders need to learn if the delivery of products, services, or other operational processes might be simplified. They need to know what customers would like to see more of. The smartest way to begin the customer feedback process is to decide what you want to know and what purpose that information will serve.

Are you trying to develop new products or services, so that you’ll be able to give customers what they want before they know they want it? Or is business dwindling and you’re in damage control mode, attempting to win back customers? Some market research questions are best explored face-to-face with customers at a conference table with a leadership team member or two and maybe a front-line staff member present as well.

Below are five draft survey questions for you to customize. Some apply to customers and others, to company leaders:

1. What challenges or goals motivate customers to contact your business?

2. What solutions to customer problems is your organization equipped to supply?

3. What solutions are offered now? Might you add, re-tool, or drop any?

4. What do customers most often hire you to provide or do?

5. What do you (the business leaders) do next?

Questions 1 and 4 pertain to customers. Questions 2, 3 and 5 refer to business strategy and should be addressed in-house, once you’ve spoken with two or more customers to figure out Questions 1 and 4.

How you conduct the survey deserves some thought. It might be best for Solopreneurs and small business owners to convene a group interview that encourages comfortable and candid conversation. Larger companies might prefer to host a survey interview that’s facilitated by an outside market research firm.

Question 1: What are the primary challenges facing (the customer’s) organization?

Start with a “How are things going in your office?” question, or inquire about their next big project or objective (whether or not it would involve your organization). Find out what’s going on and let the customers talk.

Questions 2 & 3: Which project or problem do you most want to take action on? How might that be done?

Given your in-house expertise and resources and guided by the probability that the customer will contact your business to provide needed solutions, what additional customer projects might you be asked to take on (or what can you cleverly position your business to be hired to do)?

Can your organization successfully deliver the desired outcomes of projects that are on your customers’ to-do lists? Can you discover how your customers are currently managing those challenges? Do your customers do business with any of your direct competitors? Do your customers have projects that are not getting resolved because s/he isn’t sure what to do, or there’s no budget to do the job?

Question 4: Have our company’s solutions satisfactorily resolved customer needs or challenges?

What projects have you been hired to do, or what products and services have been purchased by survey participants? What types of projects is your organization most often hired to do, or what are the best-selling products and services? How do customers feel about your company’s performance—is your ability to deliver services trusted and dependable? Do customers send referrals to your business? Does it seem that you could potentially receive more business from any of your customers?

Question 5: What do you do next, based on customer responses?

Here is the judgment call for you and your team. The success of the survey is in how you interpret the data received. What can your organization realistically do, based on the customer responses to Questions 1 and 4? Are there opportunities and strengths within your organization on which you might capitalize, as noted in questions 2, 3 and 5? What needs to be improved or discontinued?

Within a week of the survey, tangibly thank your customers for participating. You may want to send a gift basket, or offer a 15% discount on their next order.

Thanks for reading,

Kim

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Source by Kim L. Clark

Views: 0

January 6, 2020
Understanding the Definition of Health Related Fitness
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Being a Health and Fitness Professional, it is my job to understand terms and definitions which are commonplace to this industry, as well to keep abreast of evolving trends. Through my experience, I have found that a number of terms deserve a little more clarification than that which they are granted.

Aside from clarifying the definition of Health Related Fitness, this article intends to shed some light on a few of the associated terms, and to show their respective distinctions.

Is it simply all in a name?

The fitness world seems to use the concept Health Related Fitness like a generic fitness principle – interchangeable with others like “Physical Fitness”, “Health and Fitness” or simply “Fitness.”

While all of these terms can be included under the broad term Health and Physical Fitness, they individually refer to different aspects – both generic and specific. Unfortunately, references to these and other fitness-related terms are often vague, while consistency in their intended use is meager at best; there is a kind of “generally accepted” use for them, but individuals often rely on own interpretation, and this can lead to confusion.

With that said, does Health Related Fitness simply infer fitness by means of good health? Not quite. That is why we need to understand a little more behind these words before digesting the definition.

How did the term Health Related Physical Fitness come about?

That is a good question. One could probably ask what is this concept all about – can we not simply use the terms “Fitness” or “Physical Fitness” instead?” Why Health “Related”?

The main reason stems from the fact that most health and fitness terms are used inconsistently and often refer to different concepts or notions. Subsequent to the 1996 report from the US Surgeon General (Physical Activity and Health; a report of the Surgeon General), there was a move to try and address the alarming rise in obesity levels among the general American public. Studies and initiatives required standardization among clinicians, health practitioners and fitness trainers to grapple with the task at hand. Enter “Health Related Physical Fitness”, a working term to address the general state of health among the public.

The definition of Health Related Fitness

According to the American College of Sports Medicine (ACSM), the main authority in this field, ineffective definitions with unclear and subjective wordings, as well as definitions containing terms which themselves require defining, have contributed to confusing the term “Physical Fitness.”

There exists no reliable guide for Health and Fitness Professionals to measure “Physical Fitness”, because the term has been so loosely and inconsistently defined. It is therefore that one should consider the concept of Health Related Fitness. The definition therefore centers on the 5 Components of Physical Fitness which relate to “good health.” These Components are:
- Cardiorespiratory Fitness
- Body Composition
- Flexibility
- Muscular Strength
- Muscular Endurance
On the other hand, Skill Related Fitness Components are:
- Balance
- Reaction Time
- Coordination
- Agility
- Speed
- Power
According to the Centers for Disease Control and Prevention (CDC), the definition of Physical Fitness emphasizes the difference between Health Related Physical Fitness and Athletic Ability Physical Fitness. Its point-of-departure is the “health” of the US nation, which is often referred to as the “public health perspective.” In that respect, the 5 Health Related Fitness Components are more important than those related to Athletic Ability (or Skill Related Components).

Although the concept of Health Related Fitness has an integral association with “good health”, the 5 Components are addressed individually by health professionals to allow for their measurement.

Now that we have a deeper understanding of the term, what purpose does it serve?

Continuing from where the definition left off, the objective of measuring the 5 Components is to advise clients about their own particular Health Related Fitness, and to use data obtained from the tests to design appropriate exercise programs which can then be evaluated.

The 5 Components contribute evenly to make up a holistic Health Related Fitness, which is of direct interest to the health of the ordinary citizen, in that the concept is normative. In other words, it is a standard which allows for consistent application.

It is therefore important for those working in the health and fitness industry not to mistake “overall physical fitness” with “Health Related Physical fitness.”

To conclude, let us consider this distinction between Physical Fitness and Health Related Fitness

One needs to bear in mind that regular physical exercise can improve overall Physical Fitness, as well as Health Related Fitness. However, overall fitness is a generic term and is up to subjective interpretation, while Health Related Fitness can be assessed.

The distinction therefore, between these two terms, exists in that Health Related Physical Fitness can be measured according to a set of established comparative norms.

This is where the “rubber hits the road.” The guidelines set out by the ACSM enable health professionals to work with clients to assess and measure their response to exercise and prescribe appropriate exercise programs. A client’s progress can then be monitored and adjusted where necessary in order to obtain the desired fitness goals.

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Source by Cleto Tirabassi

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January 2, 2020
Drug Tracker: Clinical Trial Management

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Clinical trial management system is a software system used by biotechnology and pharmaceutical industries to manage clinical trials in clinical research. This system maintains and manages performing, planning and reporting functions, along with the relevant information of participants, like contact information, tracking deadlines, and milestones.

The system comprises of protocol development, site selection & trial preparation, subject identification & enrolment, collection, monitoring & processing of data, data analysis & reporting, pharmacovigilance, and submission for review. Data is collected during the process of trials and is stored in the database. The data is then reviewed to decide upon the safety parameter of the drug.

How is clinical trial management useful?

· Real-time Insights into Operations: It is a system that provides a central place for recording operational activity, which offers easy access to important information.

· Stronger Financial management: It supports consistency in budgeting across the enterprise and provides access to all financial information.

· Increased staff efficiency: It reduces duplicate data entry, and thus only relevant information is present in the software. This saves time for the staff and increases accuracy and consistency of data.

They are experiments done in clinical research to determine medicines or procedures that will/will not benefit the patient. Chronic heart ailments, cancer, diabetes, stroke, and arthritis have long-lasting effects, persistent for more than three months after treatment. Globally, chronic diseases kill more than 38 million people each year. Cardiovascular diseases account for most deaths, approximately 17.5 million people annually, followed by cancers (8.2 million), respiratory diseases (4 million), and diabetes (1.5 million). These four groups account for 82% of the chronic disorder mortalities. New medicines and procedures need to be developed to tackle these diseases. In addition to this, communicable diseases, like Ebola, swine flu, etc. still do not have effective cures. Owing to all these factors, the number of clinical trials performed has increased significantly in the past decade.

A report by a market research firm estimates double-digit growth rate for Clinical Trial Management Market

Increasing incidences of chronic diseases, increase in R&D to implement localized research programs, increased clinical research outsourcing, and implementation of clinical trials by Contract Research Organizations and Synchronization of Hospital Information System (HIS) with CTMS are some of the factors driving the market growth.

Hurdles for Market: Data security issues, lack of qualified and skilled labor to handle CTMS, increasing rate of clinical trial failure in Phase II and Phase III, and the high cost of customized CTMS are some of the factors hindering the growth of the market.

Way Ahead: The future involves the development of advanced software with high accuracy and efficiency, which will likely provide lucrative opportunities for market growth.

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Source by Jagrati Mehndiratta

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December 25, 2019
Data Science in Healthcare: Applications That Are Changing the Health of the Masses

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Data is everywhere and it would be foolish not to use it for the betterment of various sectors and the general public. This is the reason why the medicine and the healthcare field are using big data as an effective tool to gather data and analyze the same. It can help improve the existing technologies and also will help in developing new ones, prevent any kind of epidemic, lower the costs of diagnosis and treatments, etc.

Big data will help the doctors to make informed decisions at a better pace making less mistakes. Data will also help in getting a bigger picture of the population as a whole by identifying the larger problems which can be a problem after 20 years.

Some of the major uses of data science in the field of healthcare are discussed below:

Staffing

Deciding the proper number of doctors, nurses and other staff in various shifts are big decisions as overstaffing means extra costs and understaffing means fewer staff to treat the patients. With data science and various machine learning techniques, one can find the patterns in hospital admissions in the last few years and can also get predictions regarding future admissions. This will help the management in making correct shift staffing decisions.

Wearables

Another use of data science is wearables which are certain equipment that can be worn by the patients. These instruments will be capable of collecting medical data about the person wearing the same and this will be collected in the database which can be helpful for comparing various socioeconomic factors and health in general. It will also be helpful for the concerned person’s doctors to be alerted when the health deteriorates.

Predictive analysis

Doctors need to diagnose health problems, and having pre-existing data can be very helpful. Big data techniques can help doctors predict the disease within a very small period, as this can provide the patients with the timely treatment. Also, the electronic health records help a lot in certain complex cases which requires medical history.

Web medicine

With various digital devices now into play, the telemedicine approach has become much stronger and more improved in the last few years. Now patients can talk to and consult with doctors from home using various means like video conferences, chatbots, etc. Here data science can help in the diagnosis of the diseases easily, even if the patient is not admitted to the hospital. Also, by using the big data tools, technologies are being developed which can perform robotic surgeries which require a lot of data delivery to the software in real-time.

Security

Data science is also helpful in making sure that the patients and the hospitals do not go through any kind of forgery. Using streamlined data, inconsistencies and frauds can be recognized much earlier, thus preventing loss of money and other resources. Big data tools will help in correcting the insurance procedures by preventing faulty and fraudulent insurance claims and also will make sure that patients are compensated while the hospitals are paid in time.

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Source by Shalini M

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December 21, 2019