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Stress at individual and social levels; distorts our cognition, affect and conation (perception, feelings and actions); and leads to amongst many other evils; deterioration of international, national and local education policy and its implementation. The present day non-holistic (sectarian, prejudiced, vindictive, malicious, mercenary, exploitative and malevolent) education (formal, curricular, co curricular, extracurricular and informal) is a major stressor that though aids in petty pursuits; opposes our blossoming and further perpetuates stress and ill effects in the individual and social life. Let us review; the present perspective, policy and practice of education; as seen around.Even though education is defined in various ways; and often inadequately or incompletely; there has been a general agreement on the fact that education is basically a process of blossoming of an individual and the society. Hence it included three domains, which are as follows.The first domain is called AFFECTIVE DOMAIN. This means the state of mind. In simple words affective domain relates to how we feel. Thus when our mind is full of alertness, attention, enthusiasm, buoyancy, affection, concern, joy, tolerance, self esteem, mutual respect, mutual trust, commitment, dedication, love, romance, confidence, positive and victorious spirit, we would call it healthy affective domain. In addition; the zeal and concentration needed; in the pursuit of excellence in intellectual field, tenacity and endurance required; in skillful activities and patience and commitment essential; for internally satisfying and socially beneficial (conscientious) actions constitute affective domain. The purpose of education is to nurture this domain by designing suitable curricula and syllabi.The second domain of education is called PSYCHOMOTOR DOMAIN. This implies ability to appreciate skills and ability to perform physical and mental skills, with speed, accuracy, elegance, ease of performance etc. This may involve appreciation and performance of skills such as surgery, playing a musical instrument, playing basket ball or doing carpentry! The purpose of education is to nurture this domain through not only designing suitable curricula, syllabi but also by providing sufficient practical and demonstration classes; with all the necessary equipments.The third domain is called COGNITIVE DOMAIN. Cognitive domain incorporates accurate perspective, contemplation, correct perception understanding, conceptualization, analysis and recall of fact and problems, ability to evaluate, synthesize, correlate and make decisions, appropriate policies, plans and expertise in the management, administration, etc.It is clear that all these domains have three components each viz. Cognition [Perception], affect [Feelings] and conation [Response].Thus cognitive domain would have intellectual perception, clarity and intellectual expression, affective domain would include feeling, motivation and response in emotional sphere such as poetry; and psychomotor domain would include grasp and internalization of a particular skill, confidence to perform it and actually performing it.Let us now see, how in spite of these goals; how it has come to be conceived as a process of achieving political, economic, scientific and technological supremacy and thus deteriorated to the present stage; where all the three domains are defective; apart from lacking in the spiritual and productive domains. In short; let us see how it has become a major stressor.For this; a brief consideration of the traditional education system in India would prove useful.Traditional Education System in India in general; ensured that:
a] Careers were not selected on the basis of monetary gains,
b] Careers were not selected arbitrarily on the basis of idiosyncrasies and whims,
c] Some lucrative careers could not be sought after; in preference to the others,
d] All careers ensured income and production from early age,
e] All careers ensured that the society was benefited,
f] All careers ensured security to all the social groups,
g] All the careers ensured intimacy and closeness between young and old in the families.
h] All careers ensured ethical education and passage of experience and wisdom; from generation to generation.These were merits. But it is also true that, the traditional system was apparently marked by deprivation of scholastic education on mass scale, apparently unjustifiable availability of education of jobs based on caste, deficient infrastructure for collective scientific and technological efforts, and an element of arbitrary imposition of hierarchy.The traditional education system has attained the present status of being a major stressor as a result of several stressful factors including the onslaught of the tempting and impressive individualistic doctrines. Thus the transition from traditional system to the present one (whether due to British, American or any other influence, but basically due to individualistic pursuits); has become a major stressor tearing apart the cohesive social fabric of India by failing to preserve and nurture the merits and discard and dispose off the demerits.As the education shifted from homes, home industries and farms to; nurseries, K.G. schools, schools, colleges, universities, corporate industries, research institutions etc. the transition became viciously poisonous.Cognition suffered because of:
a] Huge number of students, in a single class making following three things almost impossible. These things are i] individual attention ii] dialogue iii] discussions,
b] Lack of adequate salary, accountability, incentive and economic security to the teachers taking away the initiative of nurturing cognitive domain
c] Increase in alienation with respect to student’s background and aptitude
d] Lack of adequate incentive to the students in the form of creativity, production and earning, service to the family and service to the nation, takes away the motivation required for building up cognitive domain
e] Lack of conviction essential in the growth of cognitive domain in the teachers and students because of outdated practical and demonstration classes, lack of interdisciplinary dialogue and in general the irrelevance of education to the realities of day to day life in as much as almost predictable consecutive unemployment at the end! The lack of conviction could be partly due to lack of participation by teachers in decision-making, policy making, development of curricula, syllabi etc.
f] Emphasis on recall and hence rote learning thereby denying free inquiry, reading, questioning etc. thereby directly thwarting the cognitive domain
g]] Too many examinations; with irrelevant parameters or criteria of evaluation [besides being unfair in many instances] leading to misguided and in most cases counterproductive efforts thus adversely affecting the cognitive domain
h] Competitions where the manipulative skills, callousness, selfishness are given more respect, destroy the enthusiasm of growing in cognitive domain
i] Information explosion affecting cognitive domain by either causing enormous and unnecessary burden on memory or inferiority complex
j] Pressure of interviews causing constant tension and sense of inadequacy, right from the tender age,
k] Protracted hours of homework in schools denying the students their legitimate right to enjoy their childhood and make them physically, mentally and intellectually unfit to grow in cognitive domain
l] Irrelevant and unnecessary information loading in lectures in the form of monologue, leading to suppression of the spontaneity, originality, interest and enthusiasm so much required in cognitive development amongst the students,Affective domain suffered due to,
A] Isolation of the children from their parents and their domestic environment at an early age [Making the parents also equally sad]
B] Lack of warm bonds due to huge number,
C] Cut throat individualistic and petty competition,
D] Inadequate facilities of sports, trekking, educational tours, recreation and physical development etc
E] Alienation from one’s social environment and culturePsychomotor domain suffered due to
A] Almost total lack of opportunities to actually participate in skillful activities such as drawing, painting, sewing, sculpturing, carpentry, knitting, weaving, music, agriculture, horticulture, other handicrafts, various sports, performing arts etc.It is important to realize that promotion of psychomotor domain is evident but in its caricature form. It has no concrete economic realistic basis. The activities have no economic incentive and no productive element.Apart from the defects in the three domains; the other two domains viz. spiritual and productive; have not TOTALLY ABSENT in the education.The spiritual domain that imparts universal perspective and globally beneficial outlook; incorporates inner blossoming of an individual through introspection, heart to heart communication (not merely discussion and arguments), mutual understanding and blossoming of the teachers and students together; through one of the most universal practices; viz. NAMASMARAN. Thus the spiritual domain is a key to conquer lust, whims, fancies, pride, arrogance, callousness, contempt, ungratefulness, prejudices, jealousy, hatred, meanness, meekness, beggary, cheating, stealing, treachery and so on; is never made available to the teachers, students and the others; associated with education.The present education system in India lacks the other important domain viz. the productive domain that empowers the people concerned with education. This prevents a huge section of society such as teachers, students, clerks, servants, sweepers and many others such as education inspectors, from being creative and productive. In addition it causes colossal loss of space, electricity, construction cost and so on. In addition because of the typical emphasis on rote learning it leads to phenomenal waste of “educational material” such as paper, bags, pencils, ball pens etc.It has to be appreciated that billions of rupees are spent on unproductive or rather counterproductive exercise of construction, decoration and maintenance of schools and colleges, electricity, and so called educational material, payment of millions of teachers and other staff members engaged, and exams conducted to test the “capacity and merit of rote learning”. This way we weaken the national economy, jeopardize the developmental activities.It also causes economic loss to everyone involved in education; while suppressing and starving their all three domains nurtured in productive activity. This is a single most important cause of
1] Reduction in the dignity of labor amongst those who continue to learn, as well as reduction in the income of the concerned families and the nation
2] Lack of education, lack of employment and starvation or criminalization amongst those who are forced to drop out because the poor villagers’ children normally contribute to the earning of the family.
3] Inhuman suffering of those millions of students dropouts, who somehow manage to get into the hell of cheap child labor for subsistence; due to economic reasons.In short, present day education system harnesses arrogance and diffidence; amongst those who continue to learn. But their spiritual, cognitive, psychomotor, affective and productive domains are defective. Their spiritual blossoming, self empowerment, creative wisdom, intellectual competence, productive skills, self sufficiency and even physical health are deficient. Thus we have increasing number of unproductive criminals and mental wrecks or highly competitive efficient maniacs pursuing petty goals at the cost of others!For those who are unable to continue the education; the abyss of being child labor, stealing, delinquency, criminals, perverts, beggars is wide open!The piecemeal approach or facilitation of petty pursuits (under the guise of development and progress) is not only useless but are in fact counterproductive! It leads to cancerous spread of industries with uncontrolled production of unnecessary utilities and their maddening marketing. These industries consume energy, fuel and add to undisposable waste and pollution. This sickening and stressful atmosphere nurtured by the present education; promotes the growth of terrorism on the one hand; and pretends to act against it (in a counterproductive way) on the other!Mainstream Education System and the courses and careers in it; revolve around and serve the grossly petty and superficial considerations, motivations and interests and this state of affairs; is strongly protected and strengthened by the elements with similar interests! Hence the present laws, rules and regulations also promote present education and its ill effects.Some institutions and individuals, for whom we have great respect, are involved in the holistic approach to education (mainstream, formal, informal, curricular, co curricular, extracurricular as well as education of physically and mentally challenged children). But these efforts are too feeble to make a difference to our life.While piecemeal approaches are failing; there is no adequate awareness and promotion of holistic education, which leaves the vicious cycle of stress distorting education and distorted education creating, aggravating and spreading the stress; to continue unabashedly and unabated.Hence; the ill effects of stress on present education and vice versa; can be eradicated if we understand and propagate the defects in present education and promote holistic education as an international solution. It has to be appreciated that no statesman, no political leader, no policy maker and no administrator can bring about change in an existing system (in democratic set up); unless, we evolve a consensus about the changes in the majority of people; whose cooperation is very vital.In short; the policy of holistic education; demands that every school, college, university etc must become the center of production and service, self sufficient and must aid in self sufficiency and blossoming of everyone involved in education and also of the nation.The students, teachers and others associated with education; must blossom as independent and empowered individuals; spiritually, intellectually, mentally, instinctually, physically and economically.In practice; everyday; approximately
20 % of the time must be spent in production, service etc.
20 % of the time must be spent in physical activities
20 % of the time must be spent in personality (conceptual and spiritual) development and
20 % of the time must be spent in entertainment
20 % of the time must be spent on cognitive domain20 % of the time must be spent in production, service etc.1. The productive domain should be an essential ingredient of education System, but no particular job should be enforced. The teachers and others should participate in the productive domain. Production and service can involve community projects such plantation of medicinal herbs, rearing of cows, home flower gardening, production of chalk sticks, carpentry, pottery, cleanliness, crafts, skills, arts and their sale according to the situations.. Working physically in different ways and earning is not a burden. It is an opportunity to grow from within. It is an opportunity to develop our self esteem. It is an opportunity to become self sufficient.2. This leads to self sufficiency in schools. They do not have to depend on heavy fees or federal grants or donations and this way they become accessible to all; rendering the reservations redundant!3. Through productive domain the hypokinetic stress, emotional stress of being dependent and intellectual stress of excessive memorizing is averted.4. Due to productive domain, the dropping out due to lack of earning (as is common in case of millions of students in many parts of world) and then turning into helpless, vulnerable and cheap child labor would come down.
5. Being empowered, the students would not go through the stress of unemployment and turn into helpless, frustrated mental wrecks or criminals.6. The emphasis on productive domain (and hence psychomotor and practical aspects) would bring down the necessity and also the capability and possibility to “copy” and associated crimes and corruption in procedures of examinations, certification, providing grants and so on!The caste based or any other kind of reservation for education, jobs and promotions; responsible for social divide and strife; in many parts of the world; (especially India) can be rendered redundant and thus; peacefully and advantageously done away with, by consensus!Most importantly; we have to introduce and incorporate examinations, which examine the actual skill, capacity or performance of the student, rather than his/her ability of repeating or reproducing things and/or copying.20 % of the time must be spent in physical activitiesPhysical activities can include pranayama, sports, exercise, trekking, hiking, a variety of physical fitness training programs and methods to avoid monotony and improve efficacy. A variety of sports prevalent in every other parts of the world can make the programs more interesting, entertaining thereby promoting global unity.20 % of the time must be spent in personality (conceptual and spiritual) development andPersonality development includes affective domain, spiritual domain and embodies broadening of perspective through various means such as; NAMASMARAN, by hearting and chanting prayers, poems and songs from different languages and countries thereby promoting global unity, invited guest lectures, seminars, discussions on holistic health, educational tours and visits to places where the student gets exposed to rapid developments in the society such as laboratories, airports, government offices, share market, farms etc.20 % of the time must be spent in entertainmentEntertainment that enriches the soul; not only should include playing musical instruments, dance, painting, mimicry, singing, story telling, drama, movie etc. but everything that nurtures the affective domain and spiritual domain as well.20 % of the time must be spent on cognitive domainDevelopment of cognitive domain can include teaching of languages, history, geography, mathematics etc with utmost emphasis on interpretation and relevance in day to day life. Thus typical irrelevant questions in the examination of history, languages, mathematics; should be totally done away with. The subject such as economics, psychology, civics, philosophy, logic, sociology etc must include field work and made relevant to the present society.We must encourage maximum and daily person to person interaction and dialogue amongst the teachers and students; so that analytical, synthetic, contemplative, decision making, trouble shooting and problem solving capacities are developed optimally.Let us realize the fact that the vicious cycle of stress distorting education and distorted education causing and multiplying stress e.g. in the form of RESERVATION POLICY and its ILL EFFECTS; in individual and social life; can NOT be managed effectively unless and until; a situation where millions are “imprisoned” in unproductive work and millions are forced into unemployment and inhuman cheap child labor; is eradicated through holistic education policy and its implementation; at international, national and local levels; through the laws, government rules and public awareness, consensus and participation.The details of practical steps can be developed by interactions amongst the people active in the field of education all over the world. But we all need;1, Perspective and conviction of Global Unity and global welfare
2. Readiness to accept and introduce physiological insights and principles in the holistic education
3. Readiness and openness to have dialogue with experts in other fields
4. Participation from the society and governments and the media including internet websites, so that holistic education activists all over the world can have a meaningful dialogue and share views, work and experiences and may be, inspire others!
5. Administrative proficiency and due care and concern for the physical capacities of the children (normal as well as the physically and mentally challenged) and should not be painful and troublesome.
7. The opportunities for psychomotor activities and productive activities; without impositions.
8. Every kind of open mindedness and tolerance amongst teachers and students; so that better international relations can be realized.The physical, instinctual, emotional, intellectual, spiritual and economic empowerment and blossoming; of all those involved in holistic education is integral to Total Stress Management (the core of which is NAMASMARAN); i.e. individual and global blossoming; culminating into global unity, harmony and justice.Can NAMASMARAN be useful in this? To find out that; we must find out what is NAMASMARAN!Namasmaran usually embodies; remembering the name of God, Guru, great souls; such as prophets and whatever is considered as holy e.g. planets and stars. It is remembered silently, loudly, along with music, dance, along with breathing, in group or alone. Further, NAMASMARAN is either counted by some means such as fingers, rosary (called SMARANI or JAPAMALA), or electronic counter; or practiced without counting. The traditions vary from region to region and from religion to religion.However the universal principle underlying
NAMASMARAN is to reorient our physiological and social being; with our true self and establish and strengthen the bond between; our physiological and social being; with our true self; and finally reunification or merger with our true self!Since individual consciousness is the culmination of every activity in life; and NAMASMARAN the pinnacle of or culmination of individual consciousness; NAMASMARAN is actually opening the final common pathway to objective or cosmic consciousness; so that individual consciousness in every possible activity gets funneled into or unified with Him!Thus NAMASMARAN is in fact the YOGA of YOGA in the sense that it is the culmination of consciousness associated with every possible procedure and technique in the yoga that we are familiar with. It is the
YOGA of YOGA because it is the culmination of consciousness associated with all the activities in the universe, which it encompasses as well! It is YOGA of YOGA because everybody in the world irrespective of his/her tradition and the beliefs; would eventually, ultimately and naturally reach it; in the process of liberation. Even so called non believers also would not “miss” the “benefit of NAMASMARAN as they may remember true self through one symbol or another”!Just as NAMASMARAN is YOGA of YOGA it is meditation of meditation also! This is because the natural and ultimate climax of every form of meditation; is remembering true self or merging with cosmic consciousness effortlessly!These facts however have to be realized with persistent practice of NAMSMARAN and not blindly believed or blindly disbelieved with casual approach!In short NAMSMARAN is super-bounty of cosmic consciousness for every individual to realize it (cosmic consciousness)! This is truly a super-bounty because a person, who experiences it, rises above mercenary, commercial and even professional and charity planes and manifest super- transactions in his or her life!These are just few observations to give rough idea about what is NAMASMARAN. NAMASMARAN is an ocean of bliss. Its true meaning is beyond description in words and has to b experienced, not by one or few person sporadically; but most preferably, by billions!The last point is; NAMASMARAN would certainly enlighten, empower and enable some people; out of those billions practicing NAMASMARAN; to evolve, guide and consolidate the global conscience and thereby manifest global unity and harmony and justice, through globally benevolent proper policies!

For many businesses today, there are many challenges that come along inhibiting success. It is, therefore, important to know the pitfalls that one can run into and the possible solutions. Some of these challenges are:• Lack of Integrity
• Resource management; borrowing cash
• Increased Competition and Selection
• Customer Loyalty and Marketing
• Uncertainty
• Regulations
• Risk management and problem-solving
• Finding competent staffThese are the main challenges that every business faces or will face. It will only be wise to have a prior understand what they are and hence find a proper way of solving them. No one starts a business to fail but at the same time, challenges are not meant for failing but to sharpen, strengthen and inspire growth. This article goes deeper into each of these setbacks and offers practical solutions for the same.Challenges and solutions1. Lack of IntegrityLack of integrity can put a business on its knees. With the standards of living going up the roof, workers trying to meet their quarterly goals and be successful at the same plus get that little overtime bonus, the temptation to cut corners is so great.Information is omitted or given in terms of doing what it takes to get ahead. There is head to head competition among employees, and soon the entire staff is infected. This behavior goes up the ladder whereby the managers and directors are also involved.For integrity to improve, there is a need for work policies to change. There should be no room for any minor or major misconduct. Staff should be trained on how they are expected to conduct themselves. Different kind of systems can be used to deal with problematic employees namely, counseling, warning, and termination. The greater the misconduct, the greater the action taken. Those who show high levels of integrity should be rewarded so that other employees can be won over to good virtues.2. Resource management; borrowing cashMoney is everything, and that is a statement that will be heard for a very long time to come. Many businesses are making a profit but what draws them back are heavy expenditures and borrowing. It is quite common to see many businesses, especially small ones, fail to manage cash flow.The main solution here is to ensure that there is enough capital or cash saved up to meet business obligations as they rise.Cash management becomes vital during the fluctuation period, as cash is flowing in more slowly into the business and moneylenders are less than willing to extend the loan repayment period. For the growing small business, tackling taxes and business the proprietor may handle accounting but dealing with the professionals is even better. Business books get more complexed with every client that walks in and employee you add. Having a professional bookkeeper will ensure your business succeeds where others are failing.Borrowing money from lending institutions only adds injury to the cash flow situation since these institutions have the power to dictate the lending terms and policies.3. Increased Competition and SelectionIt has never been an easy task to start a business, however, gone are the years when it took long procedures to start a business. Today you can purchase a host domain name online and register a business with just a few clicks. Nevertheless, staying in business is a much more convoluted subject. While business expertise was once a time consuming and expensive endeavor, nowadays you can find experts online who you can consult and get assistance from on any difficulties encountered. There are user-friendly interfaces and even support teams to help you set up an online store, get marketing materials and business cards, all at a very pocket-friendly price.The simplicity of starting a business creates a much wider level of competition. You are likely to find different businesses competing to come up with the best product while others concentrate more on their selling point instead product manufacturing. This contributes to increased selection, which makes it more challenging for businesses of all sizes to maintain customers who with a click of a mouse can change suppliers. It is a battle of marketing, focus and perception. Business owners who master these changes and provide a good customer experience will more likely be on the winning team.4. Customer Loyalty and MarketingAlong the same road of increased competition and selection to a potential customer, emails, social media, texting and other communication modes are making it easy for individuals and businesses to get their messages out to customers and hence sell more.The conservative fluctuation period is also causing a decrease in client base. Customers are forced to be conservative with their pockets and as a result, the normal business growth of new clients is not taking place as quickly as it should. Executives and business owners are forced to spend more time figuring how to go an extra mile in order to keep the existing clientele base. The same time, trying to figure out how to reach new customers in a cost-effective way without necessarily competing chiefly on price, this always leads to a race that ends at the bottom.Figuring out the best channel for marketing is the key for individuals to be successful in the current business world. How do you reach your clients with the right message and where can you find them? Once you get a new customer, how do you keep them and when do competitors of all sizes and types, trying to convince them that they can provide it cheaper or better, constantly barrage them? Identifying what your clients want and giving them a satisfactory experience will make a huge difference in your business’ future.5. UncertaintyEveryone including business leaders is usually uneasy with uncertainty. Because of economic struggles and global debts, uncertainty is more common today than in the past years. The sorrowful news is that uncertainty leads businesses and individuals to a short-term focus. Because of uncertainty, businesses tend to shy off from long-term planning for short-term benefits.While this might seem like a better choice, failure to plan five to twenty years ahead can end up destroying the value of the business in the end. Businesses must learn the art of balancing short term goals and long term goals. Usually, short term goals should be small steps leading towards the bigger goal. The ever changing market speculations by business analysts in the news usually leave a bitter taste in the mouth of business owners. The end result is executives and business owners raising prices, and thus, clients stop spending on the business. You need to get back to work with what you have and not media speculation.6. RegulationsA change in the regulations is always a major concern in certain marketplaces, but unexpected energy, financial and environmental policy is wrecking mayhem for nearly every business today. Whether a demand from stakeholders or clients to become environmental friendly or an imposed policy to increase costs due to the new carbon taxes, environmental consideration is among the biggest problems that businesses face. And we don’t have to give too much pressure to the issue of financial regulation and reform though we do have some suggestions about how to prepare to face that problem if you are a brokerage house or bank.The challenge to be solved is to comprehend the meaning of regulation in your marketplace, its effect on your business, and how to develop the skills which are required to deal with the challenge. Two main areas of regulatory problems and difficulties are health care and taxes. Lawmakers are still arguing over what is called the fiscal cliff, the combination of millions of dollars in budget cuts and tax increase. Even if the congressmen reach a conclusion, it is most likely that it won’t be understandable enough to the point of being required the following year.Health care has also been another problem for businesses. For instance, the new Affordable Health Care Act (ObamaCare) is so complicated that local and state governments won’t understand what to do, and businesses will have to sacrifice resources and time to understand the law hence hiring professionals to break it down for them to implement it effectively.Many businesses do not know whether they will have to continue with the national system, or the state system will be creating exchanges. Additionally, they do not know what that will mean for their costs. For some business enterprises, that information will aid them to conclude whether it is cheaper not to provide insurance and just pay the government fine of two thousand USD per employee or whether they will provide insurance to their employees and avoid the penalty. Companies that have nearly close to fifty workers may opt not to recruit more employees in order to remain outside the law’s radar.7. Risk management and problem-solvingA major problem faced by nearly all companies is assessing, identifying and mitigating risks, including the financial and human capital. The need for a more sophisticated challenge solving competency among current business controllers is limiting the possibilities of their ability to effectively deal with risks facing their businesses. This is the main reason business managers tend to land from the frying pan into the fire, depending on who among their executives they are trying to put away and in most cases the ever changing business environment is what starts these fires.So what is the challenge to be solved? We believe, to achieve more in the future, organizations must conclude that problem solving is the main path to business success then develop a strong problem-solving ability at all levels. As organizations continue to identify the challenges, they will have the right problem-solving techniques to know how to best maneuver them.8. Finding competent staffWithout exception, every business owner has faced the major business challenge, which is, finding the right staff, ensuring they buy into the business’ vision and retaining them. I firmly admit that I have no magic formulae for this challenge. In fact, if business executives can come up with the right formula to engage and recruit the right staff members, they would have made millions.A small organization is like a family and in most cases, they can dysfunction or work well. In large organizations, the main challenge in human resource is how to fit in the workplace and office politics, but when it comes to small organizations, it is skills and personality. When you work in a small firm, each individual’s personality can have a huge impact on the productivity and harmony of the business.The main goal is to learn how to deal with each staff member’s personality, find out what drives each staff member and shape your management accordingly. In spite of unemployment, many businesses try to find the ideal staff members with the precise skill for the business. Many upcoming manufacturing jobs require individuals with hi-tech skills. They include vacancies at the production sites where computers and machinery are used to build products like machines and airplane parts. Some skills require several years of perfection and training. Because of technological advancement, business executives are struggling to find the right high-skilled individuals to fill positions in their firm; that is individuals who have the right IT skills, deductive reasoning skills, and problem-solving skills.Final thoughtsWithout the right skills to identify and solve problems that arise in business, many businesses end up failing in fulfilling their core mission and vision. It is then the obligation of business owners and executives to make sure that all these challenges are looked into and come up with the right formula to solve them. Moreover, it is not only the obligation of the business executives but also all other members involved in the business to make sure that some, if not all the challenges, are dealt with in an appropriate and ethical manner.

Business owners and managers want to compare equipment finance companies to their bank and for a good reason; a bank is a company’s first point of reference when borrowing money or financing equipment or an expansion project. A bank is the most obvious place to start and a secure place to store your money and use their multiple services. But what a bank does not do well, both historically because of their structure and the recent tightening of the credit market, is offer business financing for capital assets (equipment). Yet many people get confused when looking for an equipment loan because they are not seeing the whole picture; this is a case where you definitely want to compare apples to apples to get the best results.Here are a few points to compare; these are not set in stone but based on years of experience, these trends apply a majority of the time.1) Total Dollars Financed – banks normally require that you keep a balance of 20% or 30% of the equipment loan amount on deposit. This means they are only financing 70% or 80% of your equipment costs because you have to keep a certain amount of YOUR money in a fixed account for the duration of the loan. In contrast, an equipment finance company will cover 100% of the equipment including all “soft” costs and will only request a one or two month prepayment. No fixed deposits required.2) Soft Costs – banks also will normally not cover “soft” costs like labor, warrantees, consulting and installation which means these costs come out of your pocket. An equipment finance company will cover 100% of the equipment price including “soft” costs and some projects can be financed with 100% “soft” costs which no bank would ever consider.3) Interest Rates – this is the most popular question in the finance world; what’s my rate? If the bank requires 30% deposit in a fixed account then that automatically raises a 5% interest rate to a 20% rate. Now people will argue that you get that deposited money back at the end of the term but that is money which you do not have access to and has an opportunity cost associated with it. Equipment finance companies target their financing rates between 3-5% for cities and 7-9% for commercial financing which is a real fixed rate and not under-stated as the bank rates can be thus independent finance company rates are very competitive with “true” bank rates.4) Process Speed – banks often take weeks to review and approve a finance request while independent finance companies normally only take a few days and can work much more quickly. Finance underwriters only review business financing while a bank has other types of requests clogging their channel.Banks also have many more levels of approval and review to pass while independent finance companies normally only have two, underwriting and credit committee. Even with complicated deals, the finance company’s process is always faster.5) Guarantee – banks require, as a standard part of their documentation, a blanket lien on all assets, both personal and business assets are used as guarantee against default on the loan. Your business assets, your home, your car, and your boat can all be on the line when entering into a bank transaction. This may also be the case with an equipment financing company but if your business operation is solvent then only your business will be listed as collateral and not your personal assets; this is known as a “corp only” approval.6) Monitoring – banks require yearly “re-qualifying” of all their business accounts which means on the anniversary date of your loan each year, you must submit requested financial documents to assure the bank that everything is going well and nothing has affected your business in a negative way. Finance companies do not require anything during the term of the loan or finance as long as the monthly payments are made on time. Nobody will be checking into your business or policing what you do.When comparing your bank financing to an independent equipment finance company, you have to make sure you are evaluating all the key parameters, not just one. Clearly, the fine print and terms of the transaction are more important than the big numbers. Banks work well within their space but have proven time and again not to be as flexible or solution-oriented as an independent finance company which solely focuses on business lending can be.