Mukund Narshi
I have been been a Local Government officer with 32 years of experience having worked as an Audit Manager for 23 years and currently in Accountancy.
Location Leicestershire, UK
Activity
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Mukund Narshi made a comment
Whilst self governance and autonomy is good, the Mars Colony needs to have an independent accountability body to review pubic spending and contracts. The Earth Governance Body can help in the transition to self governance via credible contractual arrangements and banking systems e.g. loans to Mars Colony, tariffs etc.
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Mukund Narshi made a comment
The UK has a good system of public finance accountability with regulatory bodies in place. For example, there is a national audit body - the National Audit Office, which looks at Public spending and other accountability measures, The NAO is independent of the government and regularly reports on public financing and spending issues.
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Mukund Narshi made a comment
Increasingly outposts such as the Mars Colony to create and manage their own budgets. Set up their own Accountability regime by setting up their own internal audit function. Review all expenditures and capital programme scrutiny and innovate revenue generation schemes and introduce self sustainable measures.
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Mukund Narshi made a comment
Thankful for the review.
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Mukund Narshi made a comment
Harmonisation of a common tax would disadvantage the UK and Ireland as the current lower levels of taxation attract foreign companies and investors to these countries. With Brexit looming the UK would expect to maintain or further reduce taxation and offer tax havens to certain investors.
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The UK government has just launched the green homes grants to reduce the burden on fossil fuels, better environment and help towards its climate change targets. It also incentivises household reducing their gas and electricity bills.
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Mukund Narshi made a comment
Governments who solely rely on natural resources should increasingly look to diversification especially in education, technological, infrastructure and research. Heavy reliance on natural resources may result in corruption, paradox of plenty and economic instability. It also fosters foreign governments exploiting the country's natural resources with little in...
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Mukund Narshi made a comment
Space exploration expenditure should be slashed or the whole programme should be disbanded as there are no guarantees that it will bring about benefits in the 'long term' and should be the least of the government's expenditure worries. The Earth government should be responsible for making that decision.
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Mukund Narshi made a comment
In light of the economic pressures due to the pandemic, I would put on hold any future committed budgets on Capital projects whilst reduce capital programmes which do not create jobs, reduction in Defence budgets, cut Foreign Aid, and sell government assets to raise revenues.
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Mukund Narshi made a comment
Brazil's Bolsa Familia programme has undoubtedly had a positive effect on the people of Brazil. 0.5% public spending of GDP resulting in benefitting 25% of the population to health and education access is remarkable. It has taken people, especially women and children, out of poverty and provided education and healthcare services and uplifted them out of...
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Mukund Narshi made a comment
Singapore's 2018 Budget is very impressive and a healthy one. It is clear that the priority spend is on Social Development (46.1%) of the total expenditure of $80.3 billion. Furthermore the total expenditure is only 15.8% of GDP which is a healthy economic position.
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Mukund Narshi made a comment
A simple and informative article.
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Mukund Narshi made a comment
My view is that public spending should be affordable and yield future benefits to the economy e.g. Public Spending on infrastructure, education and health bring economic benefits in the future such as job creation and increase in productivity. Educated and healthy populations will be better placed to positively contribute to the wealth and economic wellbeing...
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Mukund Narshi made a comment
The UK has had to adopt public spending areas and methods that have been unprecedented due to the pandemic. The level of borrowing will no doubt have a major impact on the economy perhaps for years to come putting pressures on future generations.
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Mukund Narshi made a comment
The crisis in Greece started as a result of very large government spending without any checks and balances in place. This resulted in poor GDP growth, high Government debt and deficits, Budget non compliance and questions over data quality and credibility.
The consequences resulted in severe austerity measures, cut in government and local services such as... -
Mukund Narshi made a comment
In Local Government we use what we call Current Ratio (another name for Net Working Capital Ratio. This part of the course has refreshed my understanding of fiscal imbalances and ratios.
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Mukund Narshi made a comment
The approach governments take on Fiscal deficits depend very much on their perspective e.g. in the UK traditionally a Conservative government is more inclined to public sector cuts whilst a labour government would tend to increase public spending.
My view is that governments should take a mixture of initiatives so that it is fair across the economy. Shifting... -
Mukund Narshi made a comment
Interesting set of accounts. Overall, compared to 2017/18, in 2018/19 although Taxation and Non Specific Grant Income has doubled, the overall new expenditure has doubled by £85m largely because the deficit on Provision of Services has increased by £96m due to higher expenditure on e.g. the HRA and Supporting People.
My Local Authority Accounts for the same... -
Mukund Narshi made a comment
Due to the Statutory mandates of Public sector organisations their aim is not to make profit. However, they would lose part of their wealth e.g. if the income/cash inflow is less than what they are spending on paying salaries,buying services and paying interest on debt in a given period.
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Mukund Narshi made a comment
A very simple and informative video
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Mukund Narshi made a comment
The main issues Sophie Borisenkova needs to consider are:
1. Review the recommendations of the Earthspace Governance Body Report
2. Get buy in from Mr Ferrari the Director of Mars Colony
3. Look in detail behind the financial statements and discuss these with the Director
4. Identify reasons for rising costs, not just energy costs but all costs
5. Examine... -
Mukund Narshi made a comment
Hi Everyone
I have worked in local government finance for 32 years, 23 as an Audit Manager and 9 years in Accountancy.
I want to learn and refresh my understanding of the wider public financing. -
Mukund Narshi made a comment
I feel better equipped in helping me understand the key concepts of Business Management. It has been kept simple and has excellent and very informative.
It has also made me think of areas where I can bring about improvement in business. -
Mukund Narshi made a comment
Really enjoyed learning more about how to manage information especially, Aspects of growth, the effects of success, SWOT Analysis, Reasons for having Loyalty Schemes and the Responsibility of Success.
I can now relate week 3 and 4 in that although Managing People and Managing Information are two different things, managing one and not the other does not... -
Mukund Narshi made a comment
Business success to me is not only the financial health of the business but how it operates from an ethical, social and environmental point of view. Ultimately this helps sustain customer base and sales.
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Mukund Narshi made a comment
Generally, I do not mind businesses holding information about me and my preferences. However, I am careful as to which businesses I allow to hold information about me e.g. I do not accept cookies for all online experiences except those where I am aware that the information will not be compromised or where I know and have the option to decide which information...
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Mukund Narshi made a comment
Customer Loyalty Schemes are designed to maintain and increase customer numbers and sales. A reward scheme helps increase the customer base and repeat custom. It also promotes the business at a fraction of the cost.
We have a corporate scheme which finds and offers deals for staff ranging from the purchase of cars to coffee etc. This also helps motivate... -
Mukund Narshi made a comment
2 for 1 at non peak times, Free fresh ground coffee pack for every 10 coffees, branded coffee mat on the 6th coffee purchase, one free coffee with every 10 purchased at any one time.
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Mukund Narshi made a comment
The pandemic has adversely affected the hospitality, bars and restaurant trades. Despite that Zahra and Ameera's coffee shop has the following:
Strengths - a popular coffee brand, trained staff, increasing popularity and customer base and a good financial position.
Weaknesses - slow service, staffing numbers, lack of investment and limited product range.... -
Mukund Narshi made a comment
Yes or No answers are problematic in business due to the countless variables that may have not been planned for or even if planned other factors may impact on the achievement of the plan and hence difficult to predict whether a growth initiative will lead to success of failure. A current prime example is the effects of the pandemic is having an impact on even...
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Mukund Narshi made a comment
I think Zahra would be more interested in the financial and operational aspects of any of the growth initiatives and would be more task focused. Ameera, on the other hand, would be concerned about the customer service and experience and people focus as she may lose that connection with customers.
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Mukund Narshi made a comment
Implications of business growth would mean increase staffing numbers, new systems preferably automated to speed up information e.g. for sales, stock management and customer numbers. Increased costs and increased profits, less time to interact with individual customers, increase number of covers, outside sitting areas, increased frequent cleaning, new product...
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Mukund Narshi made a comment
Success will bring new challenges such as: reconfigure shop, increase floor space, increased stocks and storage areas, further investment costs, increased staffing and costs, managing increased deliveries and more frequent cleaning and cleaning staff and costs.
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Mukund Narshi made a comment
Other types of information that may be important for a coffee shop are local events, information about new businesses in the area and customer preferences.
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Mukund Narshi made a comment
Zahra as the owner would be more interested in operational and financial information while to Ameera, customer information would be more important. This is largely due to different roles.
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Mukund Narshi made a comment
Each business will have information that is key for its specific operation. Although all types of information i.e. operational, financial, product, customer, market & competitor is helpful some will be more important than others eg for a coffee shop operational information is more important which will allow the business to make effective decisions to...
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Mukund Narshi made a comment
Information to me is what we know about our customers, staff, finance, the market and the economy.
Each business will have specific information which is important to them e.g. for a coffee shop it is important to have information on its customer base, trends, local area, footfall data in the vicinity, special events in the area, sales and promotional... -
Mukund Narshi made a comment
I have really enjoyed learning about communication styles, managing people and change.
Look forward to learning about how to manage information. -
Mukund Narshi made a comment
People find it difficult to change because it would take them outside their comfort zone, feel threatened by new changes and environments, loss of expertise as post changes certain expertise may no be required, different perspectives, personnel and possible loss of jobs and pay.
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Mukund Narshi made a comment
My preferred style of communication is more people focused. It helps promote a more conducive and collaborative approach to solutions, better team working, commitment and effort from all team members. People are more happier and take ownership and pull together better. There is less friction and conflict.
Our customers are more happier and increasingly loyal. -
Mukund Narshi made a comment
Different management styles are likely to have different communication approaches. A people focused manager is likely to communicate in a more interactive manner, verbal, softer approach and be willing to accept more questions and readily collaborate. Whereas a task focused manager is likely to communicate in writing and in a less interactive manner, one way...
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Mukund Narshi made a comment
Dear Sir/Madam,
I hope you are well and safe.
We recently purchased a coffee machine from you. We are pleased with its design and look however it is not working for us as expected. Since installing the new machine, it appears that it is not operating effectively and is less productive than our old, faulty machine. This is causing issues for us and our...
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Mukund Narshi made a comment
Communication can be verbal and nonverbal in various forms: spoken, written, body language, face to face, telephony, online, one to one, in groups, to a wider audience.
Do’s: good listening skills, keep it polite, diplomatic and professional to yield positive responses and results, keep it simple and to the point, focused, taking feedback into account,... -
Mukund Narshi made a comment
Delivery issues eg timeliness, part delivery, defective or unusable goods. Maintenance during guarantee period. Product advise, new and future products and technologies available. Other complementary products. Invoicing and payment issues.
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Mukund Narshi made a comment
There may be other factors that has resulted in reduction in productivity such as lack of good customer service and experience, economic factors which has resulted in less customer footfall eg local business closures, seasonal factors, changes in local traffic and facilities.
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Mukund Narshi made a comment
Business owners, managers, team leaders and supervisors, workers, support staff, manufacturers, transporters, suppliers, investors, customers, legal and finance personnel.
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Mukund Narshi made a comment
Without people there can be no business even if it means it has only one person. You need people to run a business. Despite automation, computerisation and digital economies, the number of human resource required may be reduced but you need people with different skill sets to make the business successful. Hence, people are the most important resource for any...
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Mukund Narshi made a comment
Different financing sources and their impact on the size of business and; the difference between cash flow and profit in the short and long term.
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Mukund Narshi made a comment
In the short term cash flow and profit are very different. In the long term however cash flow and profit are the same.
Cash flow is the money that comes in and out of the business whereas profit is revenue less expenditure. -
Mukund Narshi made a comment
Using profits to finance the new coffee is cheaper and less risky than a bank loan or credit card. Other means if financing creates a liability on the business and reduce profits.
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Mukund Narshi made a comment
Due the size of Zahra’s business short-term cash flow is important as it depends on the day to day revenue and costs. Long term profitability will depend on how immediate cash flow is managed.
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Mukund Narshi made a comment
Zahra needs to use a combination of finance sources. She should use part of the profits available, income from the sale of the old machine, personal savings and reduce non essential costs.
Others finance sources such as bank loans, credit card can be expensive and reduce future profits. -
Mukund Narshi made a comment
Finance options she can use:
1. Sell old machine and use that amount to part finance the new one
2. Arrange to pay for new machine in instalments over a few months
3. Reduce or delay non essential costs
4. Negotiate a part exchange deal
5. From profits since opening the coffee shop
6. Personal savings
7. Borrow
8. Loan -
Mukund Narshi made a comment
I didn’t specifically mention money but buying and selling.
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Mukund Narshi made a comment
Very useful glossary
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Mukund Narshi made a comment
I enjoyed learning about the different management styles and making me think deeper on the type of management type I am in my current job as opposed to the previous one. I used to adopt a middle path when I managed a team whereas now I am more task focused.
I am interested in learning further about the relationship between management styles and managing money. -
Mukund Narshi made a comment
Yes it does. A task focused manager will be more inclined towards maximising profits whilst a people focused manager will invest some of the profits for the benefit of the workers and community projects.
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Mukund Narshi made a comment
He is people focused and at the same time successful in product innovation and sales. This makes him embracing both styles. For example: Strengths include good employee relations, consensus building, motivates and inspires workforce. Successful innovation and sales include products such as Apple Watch.
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Mukund Narshi made a comment
P2;T10. I am not surprised with the results. As an accountant I am more task oriented.
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Mukund Narshi made a comment
In any environment it is important to know yourself. Knowing yourself enables you to do your work in the most effective manner and also helps coworkers and managers to treat you appropriately to get the best results.
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Mukund Narshi made a comment
I work in a large office and our tech systems are geared towards task allocation and completion. Nevertheless, people have their individual styles where one person will take their time and enter into social conversations whilst other will sign on as soon as they come into work and very often focus on the jobs in their ques. These staff are regimental and start...
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Mukund Narshi made a comment
Both management styles have their advantages and disadvantages but when adopted together can have a beneficial outcome. However, it depends on the type of industry and business culture as to which style works best towards the desired outcomes based on the goals and objectives of the business. For example, in the building industry task focused approach is more...
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Mukund Narshi made a comment
As a Project Lead, my personal trait and style is to complete the project successfully and on time whist listening to co workers and embedding some of their views where it makes a positive impact on the outcomes of the task in hand. Saying that, I also empower them and reward them accordingly. However, there may be some people who may not always have the same...
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Mukund Narshi made a comment
Different perspectives in the business inject dynamics and allows the business to thrive.
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Mukund Narshi replied to Laura McGeown
Hopefully this course will enable us to better our skills & knowledge and stand in a better position during and post the current pandemic.
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Mukund Narshi made a comment
Course Expectations:
1. Broaden my knowledge of Business Management;
2. Understand the key principles and elements of Business Management;
3. Gain certificate:
4. Help me think of Business ideas and get a job in Business Management. -
Mukund Narshi made a comment
I have very minimal experience of business. When I lost my job in 2011, I started selling aloe vera products, attending training and then marketing the products and creating a loyal band of regular customers. I did this for about a year and now my wife has carried on the business.
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Mukund Narshi made a comment
The role business plays in my local community is vital to day to survival as we would be unable to live a sufficient lifestyle e.g. being able to buy food and other essentials locally. Business in the community is essential and without that life would be difficult. Of course, business in the community now includes the ability to buy & sell goods online too and...
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Mukund Narshi made a comment
Business to me means any activity which involves buying and selling goods and services. This can be at a micro or more widely at a macro level. A Business can be local, national or international and can range across all sectors of the economy e.g. It can be a private sector run company or a not for profit organisation. It can be owned by an individual,...