Curious Observation – First Step in Decision Making Process
February 12, 2025
In the previous article, we have already seen what straight-through processing is and how it is different from the usual commercial lending processes adopted by commercial banks. We now know that straight-through processing is a futuristic technology-based business model which all commercial banks are working towards. Right now, the model is not used in many […]
While inventory classification of raw materials for Inventory Management purposes follows ABC Classification, Finished Goods inventory is classified under additional categories based on various attributes including sales volumes/patterns, functional attributes and operational requirements. Stock Category depending upon Sales Channels Finished Goods at the very basic level is manufactured and stocked separately depending upon the Business […]
What is Conflict of Interest and how does it arise? In recent months, we have seen a spate of scandals involving top corporate houses and sportspersons about how they have been implicated in conflict of interest issues. These scandals have dented the reputations of many corporate houses, media houses, and sports management companies. At heart […]
Stakeholders all over the world are concerned about the irreversible damage being caused to the ecosystem of the earth. There is a common belief amongst people that the natural habitat on planet Earth has been irreversibly damaged. It is true that climate change affects all of us. It is also true that very soon the […]
The previous articles have discussed how reward systems must be put in place that would ensure that the internal skills and attributes of the employees are aligned with the external reward systems. This article discusses how reward processes have to be developed in organizations. Involvement of Line Managers and HR To develop effective reward systems, […]
An organization is a setup where individuals from diverse backgrounds, different educational qualifications, varied mentalities and temperaments join hands to work towards a common goal. It is the culture of the workplace which unites all the employees, help them enjoy their work and deliver their level best.
The values, policies, ideologies and beliefs of an organization form its culture. The culture of any work place decides the way employees behave with their fellow workers. The employees are the assets of an organization who must contribute effectively to achieve the targets within the desired time frame.
One should not treat his organization as a mere source of earning money. It is essential for an individual to prioritize his work over other things. The employees must have a cordial relation with their superiors and the management for smooth flow of information and better understanding at workplace. Transparency is essential at all levels in the hierarchy to avoid conflicts and unnecessary disagreements. No one should feel neglected at work. Problems arise when queries remain unattended and bosses do not have time for their team members.
To avoid the above situation, organizations have introduced a policy named “Open Door Policy”
According to open door policy, the doors of the offices of superiors or the management (including the CEO) must remain open for the employees to have an easy access in cases of queries. The team members should have the liberty to walk up to their team leaders and discuss issues with them on an open forum.
The role of the managing director, chief executive officer or the chairman is not just to sit in locked cabins the entire day and shout on the employees; instead they should act as a strong pillar of support for them. A healthy interaction amongst the employees is essential for a positive ambience at the workplace. The management must address the employees from time to time to motivate them and expect the best out of them.
With the help of the open door policy, the employees do not crib amongst themselves, rather talk to their superiors, clear all their doubts and look forward towards a long term association with the organization.
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