Benefits of CAPM Certification

Benefits of CAPM CertificationBefore I answer the question on how useful is CAPM certification we need to understand what does CAPM certification mean. CAPM (Certified Associate in project Management) is an entry-level certification by PMI (Project Management Institute) for professionals who are serious about Project Management. The certification implies understanding of fundamental knowledge, terminology and processes of effective project management. The certification is beneficial for prospective practitioners who are interested in getting a globally recognized certification. The certification shows to the prospective employers on your keenness to master Project Management.

How useful is CAPM Certification

  1. CAPM certification would provide you with all the skill set to enable you to manage any project.
  2. It will provide you with the knowledge to prepare and execute projects effectively.
  3. Skillset that will help you with planning, execution, monitoring, controlling and completing a project successfully.
  4. CAPM certification would help you take your career to the next level by giving you an edge over your competitors in the field of project management.
  5. Provide you with the ability to manage and handle larger projects and stand out to potential employers.
  6. CAPM is especially beneficial for individual who do not possess a lot of experience in project management. It gives you the knowledge to start off your journey in the field of project management.

CAPM certification offers recognition to practitioners who are keen on starting off their career in project management or individuals who already have some experience in project management but would like to get better at mastering their ability for handling complex and larger projects.

CAPM is useful for aspiring project managers as student who are presently enrolled in college or university and want to have project management certification before they graduate so that they can start applying for jobs can get CAPM certification to apply for entry level project management work just after graduation.

CAPM certification is solely based on the PMI framework as explained in the Project Management Body of Knowledge (PMBOK) and is a relatively easier test compared to PMP (Project Management Professional) and doesn’t require thousand hours of project management experience as required by PMP. So if you are serious about a career in project management and do not want to spend thousand hours in acquiring project management experience than I believe CAPM Certification is your calling. So what are you waiting for?? Go ahead with CAPM certification.

Financial Risk and its Types

financial risk management One of the major concerning factors for all types of businesses across the world is financial risk management. This is the main reason behind the popularity of the Financial Risk Manager Exam. If you are also keen to take this exam, you must know about what is meant by risk and what its various types are. Hence, let’s study about financial risks and its type through this blog.

Definition of Financial Risk

You must be aware that risk can be defined as the possibility of having negative or unexpected results. A firm may have to tackle different types of risk. Broadly speaking, there are three types of risks: financial risk, business risk and non-business risk.

In this blog, we will focus only on financial risk. For every business, financial risk is the highest priority risk. Market movements are the main cause of financial risk. If you enroll at IACT Global for Financial Risk Management course, you will come to know more about these market movements. There are different types of financial risks like credit risk, operational risk, market risk, legal risk and liquidity risk. Let’s discuss each one of them in detail.

  1. Credit Risk: When you fail to complete counter parties’ obligations, this gives rise to this kind of risk. Credit risk can be further divided into:
    • Sovereign Risk: This risk is caused due to tough foreign exchange policies.
    • Settlement Risk: This risk is caused due to failure of a party to meet its obligations while the other party makes timely payment.
  2. Operational Risk: This risk is caused due to technical failures or mismanagement. It is divided into
    • Fraud Risk: This arise due to absence of controls
    • Model Risk: This is caused due to wrong model application.
  3. Market Risk: Price movements cause this type of risk. Market risk can be further classified into:
    • Directional Risk: This risk is caused due to movement in interest rates, stock price etc.
    • Non-Directional Risk: This risk includes volatility risk.
    • Legal Risk: This risk is caused due to lawsuits and legal proceedings.
  4. Liquidity Risk: This risk is caused when you are unable to implement transactions. It is of two types:
    • Asset Liquidity Risk: This risk arises when assets are converted into cash during sudden cash requirement.
    • Funding Liquidity Risk: This is caused due to daily cash flow.
    • After going through these risks, you must be keen to take up the Financial Risk Management course. You can easily register at IACT Global and get Financial Risk Management certification. At IACT Global, you can pursue learning anywhere, anytime.

How to clear the ITIL Foundation exam

IACT GlobalIn case you are thinking of availing the ITIL foundation certificate and that too for the first time, you must go through this blog. We will discuss some tips in this blog which will help you in nailing ITIL foundation exam and attaining the most sought after ITIL foundation certificate.

Practice a lot

  • Practice is the most important weapon that will help you clear the ITIL Foundation exam. You need to attempt all the sample questions without looking at the answers. This will help you evaluate yourself and get the knowledge about where you stand. Try to time your practice session; this will help you in time management during the actual exam. As the time duration of the ITIL Foundation exam is sixty minutes, you need to practice accordingly. Don’t fail due to bad time management. At IACT Global, we give you lots of practice and make you an expert of all sample questions. IACT Global equips you with adequate knowledge and proper time management skills to nail the ITIL foundation exam.
  • Be familiar with ITIL terminology

    ITIL course is loaded with lots of terms and abbreviations. If you are attempting the ITIL Foundation exam for the first time, you will find these a bit difficult. But by enrolling at IACT Global, you can always be assured to learn these terms and the relationships between them quite easily.

  • Read each question carefully

While giving the actual ITIL Foundation exam, be sure to read all the questions carefully and understand them while taking your own time. You may have to read them twice or thrice to really understand. If a question is in negative, be sure not to miss out the “not”, otherwise you will answer it in a completely wrong way in a hurry. There are also some tricky questions which contain words like “always” or “never”. Try to answer them correctly. Also, don’t be overconfident about short questions as they require your time and understanding as well.

  • Use the knowledge gained form ITIL training

    Last but not the least, don’t stress out. Use whatever knowledge you have gained from ITIL training. Don’t attempt the questions based on your earlier work experience and knowledge. While giving the ITIL Foundation exam, remember that it is an assessment of your understanding of ITIL principles, functions, concepts and processes.
    But you need not worry of all these things because we at IACT Global make you well trained in all aspects of ITIL Foundation exam and equip you with all the weapons necessary to acquire the ITIL foundation certificate.

Recipe for successful Big Data Analytics Career

Big Data Analytics CareerBig data is seeing a tremendous activity these days. But merely investing money in technology is not sufficient for big data success. You need to keep in mind the below mentioned three key ingredients for the recipe of successful big data analytics career:

Desirability: This means identifying the problem which needs to be resolved. It may be a known or unknown problem or both. Businesses should focus on the correct problems while developing their solutions.

Feasibility: It refers to finding the tools and skills resources to tackle the problem. Tools for tackling the problem are of two types:

  • Data Lakes: Data Lakes are storehouses of data. After identifying the problem, collect appropriate data and create data lakes. Data lakes contain data in structured, semi-structured and unstructured forms.
  • Open Source Tools:These tools have a wide range of capabilities including predictive analysis, insights and forecasting, etc. Open source tools assist in codifying and automating operations thus decreasing the need of human intervention and that too at an affordable cost.

Automation of data management is the most important skill resource in big data analytics. It gives freedom to people resources by eliminating low-level manual processes. These freed resources can contribute to other valuable processes. The basic use of automation is to analyze data and find anomalies at a very fast rate.

Viability: This means measuring the problem’s business value for the enterprise. The problem should be viable enough to find its solution.

Now, you have the recipe for successful big data analytics career and you are ready to go!!

 How can Big Data Analytics Certification help your Career?

 iACT Global offers you a course in Big Data Analytics in association with IBM which will further enhance your skills in problem solving abilities. Armed with iACT Global Certification and Training, you can upgrade your career and reach new horizons. Hence don’t wait, just enroll for iACT Global Certification and Training.

Building a smart phone application of your business! Challenges and Opportunities

56413Increasing number of companies are coming out with their mobile applications to reach to customers.  Creating a mobile application for your business is not difficult. What is more difficult is to integrate your operations and backend infrastructure with your application platform.

When a customer orders a product or service from your mobile application, the entire supply chain should get activated with that order. The IT infrastructure plays an important role in communicating information of this order across the supply chain. The operations team gets the order; packs it; transports it and gets it delivered to the address of the customer. The transportation and delivery part are nowadays being increasingly outsourced to third party logistics vendors.

While designing the application of your business, you should try that customer service is improved because of this application. You can do so by minimizing the number of steps that a customer has to go through for completing the purchase transaction. Smartphone applications can be successful in increasing market penetration of your business only if they increase customer convenience in some way.

When a customer places the order of a product through the smartphone application of your business then he/she expects faster delivery of the product. So the operations and supply chain of your business also need to become more agile to support your application channel distribution strategy.

The smartphone application should give customers the convenience to provide their feedback on the quality of product and customer service delivered. A dedicated customer service team should be there to readily address any grievance or issues that customers raise through the application.  This will go a long way in improving customer service and will encourage more customers to download the application of your business and use it for ordering your products or services.

According to data from eMarketer number of smartphone users in the world, by the end of 2014, were 1.75 billion. India has the third largest smartphone market in the world ,with 315 million users, by the end of third quarter of 2015. With the continuing decline in prices of smartphones, the penetration of smartphones in India will increase further. The penetration of smartphones in rural markets of India is increasing very fast. Therefore without a mobile application, a business may lose on huge opportunities of increasing revenue growth and market share.

A holistic smartphone application strategy can play a very important role in improving customer service and satisfaction. Such a holistic strategy is underpinned on integrating your mobile application with your operations and IT infrastructure

Banking and too many jobs in the rural areas!

006ruralA number of jobs are going to be created in the banking sector in the coming days. This will happen as the government and Reserve Bank of India push the initiative to increase financial inclusion in India. Much of the growth of banking sector will now take place in rural areas as lack of financial inclusion is maximal in the rural parts of the country.

Therefore banks will give preference to those candidates who are willing to work in the rural parts. The rural parts of the country suffer from many infrastructural bottlenecks such as shortage of electricity.  Those who have grown up in cities often find it difficult to work in rural parts because of these infrastructural problems. On the other hand those who have grown up in rural areas are well-adjusted to living in these areas. Candidates coming from the rural parts, therefore, have a big opportunity for getting hired in the banking sector in the near future.

Recently, the Reserve Bank of India gave two new banking licenses. One of these licenses was given to Bandhan.  Bandhan, headquartered in Kolkata, is already the country’s biggest Microfinance Institution (MFI). An MFI gives small loans, usually in the range of Rs 100 to Rs 10000, to poor customers without asking for any security. In turn the MFI charges a slightly higher interest rate than banks, to cover the risk of lending to poor people, without any security.

Bandhan has been extremely successful as an MFI. Its MFI business is now worth more than Rs 10000 crore. Now as Bandhan graduates to a full bank, it has said that its focus will remain on the rural markets. Its core competency now lies in operating in the rural parts, as it understands well the challenges of these parts of the country. Bandhan will open majority of its banking branches in these rural parts.  It is in the process of hiring more people who are willing to work in its bank branches in the rural parts.

In such a scenario knowledge of banking & financial services operations is a very valuable skill. Those coming from the rural parts can increase their employability quotient by getting trained in the operations of banking & financial services.

African Safari: Entrepreneurship & Sub-Saharan Africa

success-banner-In the past one decade countries in the sub-Saharan Africa have posted strong rates of economic growth.  Actually, between 2000 and 2008, sub-Saharan Africa region posted the highest economic growth rate in the world (average annual GDP growth rate of the region was over 8%).  In 2015 the GDP growth in the region is likely to come down to 4.2%, according to estimates of World Bank.

In spite of slowing of economic growth in the region, countries in sub-Saharan Africa offer great opportunities for you if you are an entrepreneur.  Ethiopia, Kenya, Tanzania, Uganda and Nigeria are among the major countries in the region that offer great opportunities for entrepreneurs, in spite of some major challenges.

The sub-Saharan region is very good for setting up manufacturing facilities for items such as clothes. The products manufactured in these facilities can be exported to Europe and United States.  United States has an African Growth & Opportunity Act (AGOA). This act gives duty-free access to United States to products manufactured in certain sub-Saharan countries. So if you are an Indian that has gone and set up a manufacturing facility in Ethiopia then you may be able to export the products manufactured at your facility without having to pay any customs duty in United States. Due to this the products manufactured at your facility will get a cost advantage over competitors from other countries that do not enjoy preferential access under AGOA.

A recent report by consulting firm McKinsey & Company expects that countries in sub-Saharan Africa such as Ethiopia will emerge as the next global hub for manufacturing of items such as apparel. The low rates of wage in the manufacturing sectors of these countries give manufacturers a cost advantage.

Sub-Saharan African countries pose some unique challenges too. There is power shortage in most of these countries. Law & order is a problem in countries such as Kenya and Nigeria. Parts of Nigeria are afflicted by the terrorism of Boko Haram. There is also shortage of educated and skilled human resources & managerial talent.  But these challenges can be overcome to avail of the huge growth and export opportunities that sub-Saharan countries offer.

In the sub-Saharan region, Ethiopia stands out for its recent economic performance and political & social stability.  Its power situation is relatively better than neighbouring countries. It has a number of hydro-electric plants. The wages in the country are among the lowest in the region. And the government there is supporting industrial growth.

If you are an entrepreneur or want to become one then it is advisable that you do a course in Entrepreneurship that can inform and educate you about the global opportunities out there.

8 incredible offline marketing techniques for businesses

2-online-and-offline-marketingDo you know the similarity between marketing and story writing? It is the out of the box ideas and planned execution that hits the chord among target audience in both the processes.

With inception of digital marketing, various marketers are losing belief in offline marketing.

But if done creatively, offline marketing ideas can still create a huge impact among potential customers.

Let’s look at some awesome offline marketing strategies which work effectively for both startups and big brands:

  • Bookmarks and pens

Merchandise like bookmarks and pens with brand’s brief description can be donated to local libraries. These require small investment and benefits are long term. You can also distribute these during some local events or literary festivals.

  • Flash mobs

Marketers can organize flash mob in places like malls, popular shopping complexes, parks etc. These help in creating positive buzz for your company due to surprise factor added with it. A colorful street festival can also turn your products / services into renowned brand.

  • Participate in trade shows

Make sure the banner representing your stall in a trade show is vibrant and clearly visible. It is definitely attract potential clients and will ensure that image of your brand remains in their mind for a longer duration.

  • Turn infographics into pamphlets

Take support of creative writers and designers for creating informative and attractive infographics associated with your brand. Get them printed in bulk and distribute among the regions where your target audience is located.

  • Take help of journalists and critics

Make sure to develop a good bond with journalists and review writers of local media. These writers have a big following and words written by them in their respective channel / newspaper / magazine about your brand will develop a lasting impression among readers.

  • Attach discount with pamphlets

Adding discount coupons with pamphlets and leaflets will definitely draw more attention of customers towards your brand. It makes sure that they use your product / service at least once to redeem the coupon.

  • Offer freebies to regular customers

An important strategy to build a long term relation with loyal customers is offer them freebies like CD-ROMs, magazines and mobile covers etc. This will help in creating positive word of mouth for your brand. Giving special discounts for these special customers also improves the loyalty towards your brand.

  • Car stickers

Applying big stickers representing your brands on your car can add visibility on the move. You can also take support of auto-rickshaws and e-rickshaws for placing banner ads on the back of these vehicles.

Remember, you don’t have to implement ideas at once. You can choose a mix of these strategies and apply them as per the budget and time allotted for the brand.

7 tips to retain the best employees in the company

building_workforce_plan_millennials-100592570-primary.idgeEmployees are the most precious assets of any firm. It is therefore essential for every company to retain the workers especially those who are delivering the best to the company. Other than good remuneration, there are other strategies which also develop the loyalty of the employees towards the company.

Here are some important tips which must be followed by companies to retain the best talent.

 

Tip # 1: Hire the best

This is very first step to ensure that employees are there for a long term with you. Analyze the record of the candidate in previous companies and make sure that the attrition rate was less.

Tip # 2: Avoid stiff regulations

Too many rules and regulations may give result in discomfort to the employee. As a result, he / she will start looking for alternative options where regulations are relaxed. So, it is essential to purge off unnecessary rules from the company.

Tip # 3: Give flexibility in timings

A modern day worker prefers working in a flexible environment where timings can be adjusted as per the comfort. This also boosts the productivity of the employee. Also, keep open the option of work from home for at least two days a week. You will be surprised with the loyalty of the employees to the company.

Tip # 4: Share achievements and policies

Every small or big achievement by the company must be shared with every employee. This can take place in the form of a small celebration in office or outside. Following this technique helps in developing a bond with the employees. Also, every policy change must also be circulated immediately throughout the organization.

Tip # 5: Special bonus for employees working for long time

There should be a policy to offer special bonus for those employees which are working in the company for long time. This will become a strong reason for employees to stay in the company for an extended period.

Tip # 6: Give them opportunities to learn

Ambitious employees love to learn more about their domain as it is beneficial for the career. Organize training sessions on regular basis where employees can get chance to develop skills related to their responsibility. Also, sessions related to communication skills, personality development and behaviouaral training must take place in the office on regular basis.

Tip # 7: Offer small perks

There are various perks that can be provided by the company which can ease the lives of employees. Some of these include free health checkup camp, discount coupon for groceries and tickets for some concerts etc. The employees will appreciate these small gestures by the company and will love to stay with it for extensive period.

 So, make sure that include a blend of these strategies to ensure that your competent workers stay with you for long and help in achieving the company’s objectives.

Risk, Risk, Risk – Learn to manage risk

AAEAAQAAAAAAAAJ4AAAAJGFkMThhZWI4LTAzN2MtNDg2Mi1iYjY4LTRhNmQ4NTI3MTFjNAThe contemporary business environment is a highly dynamic one. Constant changes in the external environment have increased the risks that businesses face. Risk management has therefore become more important than ever.

Key risks that a business faces are operational risks and financial risks. Operational risks are those that arise from the nature of operations of a business. For instance a sudden, unexpected shortage of raw materials for your business is an operational risk. Sudden, unexpected fall in the prices of the products or services of your business is another operational risk. Occupational hazards to which workers of a business are exposed to are also an operational risk.

Operational risks can be managed by constantly monitoring the external and internal environment. Scenario analysis should be done to plan for a business’ response in the case of materialization of a possible operational risk scenario. Operational risks such as fire in plants and facilities can be managed through adequate insurance. Unfortunately, majority of businesses are under-insured. Many small businesses operate without any kind of insurance.

Financial risks before a business are of many types. A business involved in exports and imports faces foreign exchange risk. This risk means loss in the value of revenues or assets or increase in the value of liabilities due to sudden, unexpected movements in foreign exchange rate. For instance a company exporting mangoes from India to America earns its revenues in dollars, which it then converts to rupees. If the dollar depreciates against the rupee then the revenue of this company in rupee terms will go down. Such type of currency risk can be managed through the technique of hedging.

Credit risk is another type of risk that can be classified as a financial risk for a business. Credit risk means that the debtor of your business may fail in paying off its debt obligation when it becomes due. A lot of sales – especially in business-to-business (B-2-B) segment – are credit sales. Therefore credit risk is high in these cases.

Market risk means that the value of an investment will decrease because of adverse movements in market prices. Businesses keep their cash reserves invested in various investment schemes and securities and are therefore exposed to market risk.

Then there is the financial risk of insolvency. Risk of insolvency means a business or individual getting insolvent because of its inability to pay off its debt or financial obligations when they become due.

Both small and large businesses should focus on making their risk management more effective. Poor risk management by banks and many large companies was the main reason for the 2008 financial crisis.