The place to discuss and reflect on Personal Finance
A personal financial plan is just a part of our life plan. It's just a tool that helps us achieve those things that matter most.
Of course, we all have many dreams we keep. Buy a new car, ensuring the best education for our children, move to a bigger house, a trip to Europe or have, for many years, a comfortable retirement. But we also know that not all can be achieved simultaneously. For this reason, we must concentrate our efforts on goals that are really important to us. Focusing on the three or top five priorities on our list, but no more. Thus, we have a better chance of achieving what matters most.
How to define our goals and life goals?
Objectives
It is noteworthy that, like everything, if we try to do too much more than we can probably end up not able to achieve any of them.
This is not easy for many people, because sometimes our goals can cause conflict with others. That is, we might want or rather we are convinced that we need to have a car, a new high definition screen or perhaps the new fashion phone - all in the short term. But there are also other things that are longer term, as comfortable retirement, our children go to a good college, or maybe buy a house within a few years.You may not know or can not determine which of these goals is more important to us. If we face a conflict of goals, it is usually better to apply a criterion such as: Which of these goals will benefit us more than the other? What we will do less damage if the differ?
Of course, if we are part of a family should perform this exercise with all its members. Remember that the key to marriage is to share our personal goals and align them toward a common superior. And if we have children, they probably also have something to say about the goals that affect them.
Finally, while drawing our list of goals, we must focus on things that can help us feel financially secure, happy and full. For those that are related and aligned with our deepest values: safety, happiness, love, health, welfare, etc.. Remember that if a target does not contribute to closer to one of our values, then it is only a fad. And if we postpone true objectives and focus to our whims, we will leave more and more of our values and what matters most in life.
Therefore, many of us will at the top of the list things like have a financially comfortable retirement and not be a burden to our children, or establish an emergency fund to make us feel safe, save for a down payment on a house pay our debt, save or secure the education of our children, and so on.
The closer our goals for our values, we will be more engaged with them. It is precisely this commitment that will help us control our spending on important things and expensive. Whenever we have the temptation to buy some high price, we must ask: Which brings me closer to my goals, and therefore my values, or distances me from them? If the answer is no, then let us leave or scheduled for future spending.
Once we have listed our goals, and we prioritized, we must focus on two important things: translate to an amount (to make them specific, measurable) and decide how long we have to achieve them.
In fact, time is one of our most important allies to achieve our goals, as usually the money invested is growing at a compounded interest rate: that is, interest work to our advantage. The more time we have, the greater our chance of success.
If you reread the previous sentence, we find that the weather can also play against us. Precisely because this is very important to start now. The longer we wait, the more difficulty we have.
Finally, in a world like ours, it is important to be prepared for change. Our goals and needs change over time, as well as their priority. Therefore, it is healthy and our family, each year we review our goals and objectives and their priority, to always reflect our current situation, and above all - do not forget - our deepest values.
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Know what the definition of communication and what are the basic elements that make up ...
In general, communication is a means of connection or attachment that people have to transfer or exchange messages. I mean, that whenever we communicate with family, friends, coworkers, partners, customers, etc.. What we do is to establish a connection with them to give, receive and exchange ideas, information, or any meaning .
Given this brief introduction, then we will see in more specific terms what is the definition of communication, before reviewing some ideas and definitions proposed by experts in communications, marketing and administration.
Definition of Communication:
* For Maria del Socorro Fonseca, communication is "get to share something of ourselves. It is a quality specific rational and emotional man who emerges from the need to get in touch with others, exchanging ideas that have meaning or significance in accordance with common past experience "[1].
* According to Stanton, Etzel and Walker, communication is "the verbal or nonverbal transmission of information between someone who wants to express an idea and who hopes to capture it or is expected to capture" [2].
* For Lamb, Hair and McDaniel, communication is "the process by which we exchange or share meanings through a common set of symbols" [3].
* According Idalberto Chiavenato, communication is "the exchange of information between people. It means a common return a message or information. It is one of the fundamental processes of human experience and social organization" [4].
* Robbins and Coulter give us the following definition: "Communication is the transfer of meaning and understanding." [5].
At this point, and taking into account the above ideas and definitions, I propose the following definition of communication:
Communication is the process by which the sender and the receiver establishes a connection at a time and place determined for transmission, exchange and share ideas, information or meanings that are understandable to both.
For a better understanding of this definition, a breakdown of its basic elements:
1. PROCESS .- Communication is a process which (in general) includes the following steps: First, a sender wants to transmit, exchange or share a message with a receiver. Second, the sender encodes the message to be understandable to the receiver. Third, send this encrypted message through a channel (himself an e-mail, a notice in newspapers, a television, etc. ...). Fourth, the receiver receives and decodes the message. Fifth, the receiver responds to that message based on their understanding of it and leads to a feedback. At this point, it should be noted that during this process is noise or interference that affect communication, and that both the sender and receiver must try to overcome to establish good communication.
2. TRANSMITTER AND RECEIVER .- For that communication must be two parties, the sender and receiver, and both should be predisposed to communicate, ie to issue a message and / or receive. At the time that a party is not interested in giving and / or receiving a communication message is canceled.
3. .- Any communication CONNECTION connects or unites two or more persons at any given time and space (physical or virtual) determined. However, note that that connection can take many forms, ie, it can be in person (face to face), distance (for example, by sending and receiving emails, instant messages, etc. ..) or impersonal (through a television or radio where the host sends a message to an audience of thousands).
4. TRANSMITTED, EXCHANGED OR SHARE .- When a communication is transmitted engages, trade or share a message, therefore, can be a dynamic process of back and forth between sender and receiver (in which they exchange ideas, information or meaning ), or simply be a transmission from sender to receiver (as with television and radio).
5. IDEAS, INFORMATION OR understandable meaning .- To be able to establish a communication between a sender and a receiver, there must be ideas, information or meaning (the message) that are understandable to both, ie the set of symbols used ( verbal or not) be understandable to both parties, otherwise they could not establish a connection.
Know what the definition of administration from a general perspective
By: Ivan Thompson
Let's start with etymology. The word government comes from the Latin ad (to, direction, trend) and minister (subordination or obedience), meaning one who performs a function under the command of another, ie one that provides a service to another [1]. However, today, the word has a different meaning administration and much more complex because it includes (depending on definition) terms like "process", "resources", "achievement of objectives", "efficiency", "effectiveness" among others, that have radically changed their original meaning. Furthermore, understanding this term has become more difficult because the various definitions that exist today, which vary by school administrative and author.
With this in mind, this article provides a general definition of management that is based on the proposals of some prestigious authors, in order to give the reader a general idea of the meaning of management today. Then provides a brief explanation of this definition and an axiom to be considered.
Definition of Directors:
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According Idalberto Chiavenato, the administration is "the process of planning, organizing, directing and controlling the use of resources to achieve organizational goals" [1].
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For Robbins and Coulter, the administration is the "coordination of work activities so that they are conducted efficiently and effectively with others and through them" [2].
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Hitt, Black & Porter, defined management as "the process of structuring and joint use of resources oriented towards goals, to perform tasks in an organizational environment" [3].
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According to Diez de Castro, García del Junco, Martin Jimenez and Christopher Periáñez, the administration is "the set of basic functions or processes (plan, organize, direct, coordinate and control), which conveniently made, impacting positively on the effectiveness and efficiency of the activity in the organization "[4].
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For Weihrich Koontz and the administration is "the process of designing and maintaining an environment in which, working in groups, individuals effectively meet specific objectives" [5a].
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Reinaldo O. Da Silva, defines management as "a set of activities aimed to use resources efficiently and effectively in order to achieve one or more objectives or goals of the organization" [6].
At this point, and taking into account the above proposals, I propose the following definition of management:
Management is the process of planning, organizing, directing and controlling the use of resources and work activities in order to achieve the objectives or goals of the organization efficiently and effectively.
This definition is divided into five main parts which are explained below:
1. Process of planning, organizing, directing and controlling: That is, perform a set of activities or functions in sequence, including:
* Planning: It's basically choose and set aims and objectives of the organization. Next, determine policies, projects, programs, procedures, methods, budgets, policies and strategies to achieve them, and in addition to decisions having to choose between different future courses of action [4]. In a nutshell, is to decide in advance what you want to achieve in the future and how it will achieve.
* Organization: It consists of determining which tasks to do, who makes them, how they are grouped, who reports to whom and where decisions are made [2].
* Address: The fact influence individuals to contribute for the implementation of organizational and group goals, therefore, has to do primarily with the interpersonal aspect of management [5].
Control: involves measuring and correcting the individual and organizational performance to ensure that the facts they stick to the plans. Involves measuring performance based on goals and plans, the detection of deviations from standards and contribution to the correction of these [5].
2. Resource Usage: This refers to the use of different types of resources available to the organization's human, financial, material and information.
3. Work activities: They are the set of operations or tasks performed in the organization and that as resources are essential to achieving the objectives.
4. Achievement of objectives or goals of the organization: The whole process of planning, organizing, directing and controlling the use of resources and activities are not made randomly, but in order to achieve the objectives or goals of the organization.
5. Efficiency and effectiveness: In essence, efficiency is the achievement of objectives and efficiency is the achievement of objectives with the use of minimal resources [5].
Axiom: In short, running (either an organization, family life or yourself) is to decide in advance what you want to accomplish and how it will achieve, then use the available resources and implement planned activities in order to achieve the set objectives or goals, doing what must be done with as little resources as possible ...
Additional considerations to keep in mind:
According to Hitt, Black & Porter, the term management has other meanings besides "a process" or "a set of activities." Sometimes the term is used to designate a specific area of the organization: the set of individuals who took over the managerial duties. So, you may hear the phrase "the administration drafted a new policy for staff." Often when the term is used in this way does not necessarily refer to all members of the organization, but rather to those occupying positions of power and influence in this scenario (management levels) [3].
Know what the definition of customer for marketing purposes (marketing) ...
By: Ivan Thompson
Probably read about the definition of customer is considered as something very basic for the vast majority of marketers and entrepreneurs. However, if we consider that the client is "one" by whom plan, implement and control all activities of companies or organizations, we reach the conclusion that it does not hurt to review its definition from time to time not to forget "Who really is the client."
Definition of Customer, for marketing purposes:
* According to the American Marketing Association (AMA), the client is "actual or potential buyer of the goods or services" [2].
* According to The Chartered Institute of Marketing (CIM, UK), the client is "a person or company who purchases goods or services (not necessarily the final consumer)" [3].
* In the Dictionary of Marketing, Cultural SA, found that "customer" is "a term that defines the person or organization that makes a purchase. May be buying on their behalf and personally enjoy the property acquired or purchased for other as the case of children's items. It is part of the largest population of the company [4].
* In the book "Marketing Customers Who has been my client?" the following is mentioned: "The word comes from ancient Greek client and refers to the" person dependent ". That is, my clients are people who have some need for a product or service that my company can satisfy" [5 ].
At this point, taking into account and extending the above, I propose the following definition of Customer:
Customer is the person, company or organization that acquires or voluntarily purchase products or services you need or want for yourself to another person or a company or organization, therefore, is the main reason they are created produce, manufacture and market products and services.
Some considerations Philip Kotler about customers:
* If you pay attention to their customers, some other company will make [1].
* Companies should consider their customers as an asset that must be managed like any other asset of the company [1].
* The products come and go. The challenge for companies focused on their customers that their products last longer. They have to consider the concepts more market life cycle and life cycle of the client instead of the concept of product life cycle [1].
Know what the definition of finance from different points of view and what are its basic elements to consider ...
By: Ivan Thompson
The term finance comes from the Latin "finis" which means end or finish [1]. It is a term whose implications affect both individuals and businesses, organizations and states it has to do with obtaining and using or money management.
Therefore, and regardless of profession or occupation that we have, it is necessary to know what it is, what it means or just what is the definition of FINANCE, because all one way or another, we perceive money we spend, we borrow and Some also invest and take risks.
Definition of Finance, according to various authors:
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Simon Andrade, defines the term finances of the following ways: 1) "Area of economic activity in which money is the basis of the various embodiments, whether stock market investments, real estate, industrial, construction, agricultural development, so on. ", and 2)" Area of the economy in which we study the performance of capital markets and supply and price of financial assets "[2].
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According to Bodie and Merton, finance "study how scarce resources are allocated over time" [3].
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For O. Ferrel C. and Geoffrey Hirt, the term finance refers to "all activities related to obtaining money and effective use" [4].
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The free encyclopedia Wikipedia, have to finance 1) "are a branch of economics that studies the acquisition and management by a company, individual or government, funds necessary to meet its objectives and criteria that has its assets, "and 2)" is generally defined as the art and science of managing money. " [1].
At this point, and taking into account the above proposals, I propose the following definition of Finance:
Finance is a branch of economics that studies the acquisition and effective use of money over time by an individual, corporation, organization or state.
Given the above, we find that the term includes the following financial basics that we take into account:
1.
It is a branch of the economy. Recall that one definition of economics is: "The line and prudent management of scarce resources in a society, family or individual in order to meet their needs in the material" [5]. Within this context, financial resources are focused on economic (money).
2.
Studies the acquisition and effective use of money. Thus, in general, help make decisions about 1) how much to spend, 2) how much to save, 3) as given, 4) how much to invest, 5) how much risk you run.
3.
It affects individuals, businesses, organizations and states. Hence, finance specialize according to their field of action, personal finance, corporate and public.
