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Process Improvement: Six Sigma & Kaizen Methodologies
 
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Improve your project processes with these top two methodologies: Six Sigma & Kaizen Try our award-winning PM software for free: https://www.projectmanager.com/?utm_source=youtube.com&utm_medium=social&utm_campaign=ProcessImprovementSixSigmaKaizenMethodologies Claim your free 30-day trial of PM Software here: https://www.projectmanager.com/?utm_source=youtube.com&utm_medium=social&utm_campaign=ProcessImprovementSixSigmaKaizenMethodologies Project managers are constantly looking for ways to improve the performance of the processes on their projects. That's why, in this brief but compelling video, ProjectManager.com Director Devin Deen shares the key points from the Six Sigma and Kaizen methodologies. See the video,and learn why the Six Sigma methodology and the Kaizen "change for the better" culture are the two most widely used process improvement methodologies for project management, in the world today. Subscribe to our YouTube Channel here: https://www.youtube.com/user/projectmanagervideos Want to see another great video on project management methodologies? Check out Critical Chain Project Management vs. Critical Path. See it here: https://www.youtube.com/watch?v=mpc_FdAt75A
SWOT Analysis - What is SWOT? Definition, Examples and How to Do a SWOT Analysis
 
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SWOT stands for strengths, weaknesses, opportunities, and threats. Strengths and weaknesses are internal factors and opportunities and threats are external factors. A SWOT diagram analyzes a project or business venture by focusing on each of these factors. It typically consists of four boxes, one for each area, but the exact shape may vary depending on the design. Learn more https://www.smartdraw.com/swot-analysis/?id=377675
Views: 79139 SmartDraw
IT Strategy
 
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Join us for our June 2017 Fuqua Faculty Conversation as Jeremy Petranka, Assistant Dean of the Master of Quantitative Management (MQM) and Master of Management Studies (MMS) programs and Associate Professor of the Practice in Economics, presents: IT Strategy It is no shock that IT projects fail, but why does this happen so often? We will discuss: • How organizational strategy can guide IT strategy successfully • How to avoid confusion between goals and tactics in IT • How to connect business unit needs to IT goals
7 Step Problem Solving
 
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Are you facing a challenging situation at work? Ed Muzio, author of "Make Work Great" explains a 7 step solution to effective problem solving.
Views: 493349 BNETvideo
What Techniques Do Business Analysts Use?
 
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This KnowledgeKnugget™ (KK) is part of an eCourse "Business Analysis Defined". VIEW COURSE OUTLINE at http://businessanalysisexperts.com/product/video-course-business-analysis-defined/. Also available as Paperback or Kindle eBook at http://www.amazon.com/dp/B00K7MM50O/. DESCRIPTION: Although the field of IT Business Analysis offers great career opportunities for those seeking employment, some business analysis skills are essential for any adult in the business world today. For example, the task of defining the requirements for an IT solution is handed to Business Analysts as well as Subject Matter Experts, Developers, System Analysts, Product Owners, Project Managers, Line Managers, or any other business expert. Applying business analysis techniques to define their business needs results in much higher chances for a successful IT project. In this KnowledgeKnugget™ you will learn what business analysis techniques and tools are most commonly used around the world based on surveys of actual business analysts. This KnowledgeKnugget™ answers questions like: 1. What are the primary activities in business analysis? 2. What tools or techniques do they use? To view more IT requirements training, visit the Business Analysis Learning Store at http://businessanalysisexperts.com/business-analysis-training-store/. PARTIAL TRANSCRIPT: Business analysis is the process of studying a business or any other organization to identify business opportunities / problem areas and suggest potential solutions. A wide range of people with various titles, roles and responsibilities actually apply business analysis techniques within an organization. There are three fundamentally different flavors or levels of business analysis: 1. Strategic Business Analysis (aka Enterprise Analysis) (http://businessanalysisexperts.com/strategic-business-analysis/ ) 2. Tactical Business Analysis (http://businessanalysisexperts.com/tactical-business-analysis/) 3. Operational Business Analysis (http://businessanalysisexperts.com/operational-business-analysis/Operational Business Analysis) Strategic Business Analysis is the study of business visions, goals, objectives, and strategies of an organization or an organizational unit to identify the desired future. It encompasses the analysis of existing organizational structure, policies, politics, problems, opportunities, and application architecture to build a business case for change. This analysis employs business analysis techniques such as Variance Analysis, Feasibility Analysis, Force Field Analysis, Decision Analysis, and Key Performance Indicators to support senior management in the decision-making process. The primary outcome of this work is a set of defined, prioritized projects and initiatives that the organization will undertake to create the desired future. If the initiative includes the development of software using an Agile Software Development Methodology (SDM) (http://businessanalysisexperts.com/product/business-analysis-agile-methodologies/), strategic business analysis techniques identify themes and/or epics, and initiate a product backlog. Tactical Business Analysis is at the project or initiative level to flush out the details of the proposed solution and to ensure that it meets the needs of the business community. Commonly used business analysis techniques at this level include Stakeholder Identification (http://businessanalysisexperts.com/product/how-to-identify-stakeholders-it-projects/), Interviewing (http://businessanalysisexperts.com/product/requirements-elicitation-gathering-business-stakeholder-it-requirements/), Facilitation (http://businessanalysisexperts.com/product/how-to-facilitate-requirements-gathering-workshops/), Baselining, Coverage Matrices, MoSCoW Analysis (http://businessanalysisexperts.com/product/requirements-prioritization-two-simple-techniques/), Benchmarking, Business Rules Analysis, Change Management, Process and Data Modeling (http://businessanalysisexperts.com/product/business-data-modeling-informational-requirements/), and Functional Decomposition (http://businessanalysisexperts.com/product/video-course-exposing-functional-and-non-functional-requirements/). In an Agile environment, Tactical Business Analysis adds to the Product Backlog and/or Release Plans expressed in Themes, Business Epics, Architecture Epics, User Stories (http://businessanalysisexperts.com/product/video-course-writing-user-stories/), and User Story Epics. In a traditional setting, the primary outcome of Tactical Business Analysis is a set of textual and/or modeled Business and Stakeholder Requirements (http://businessanalysisexperts.com/product/video-course-writing-requirements/). ..........
Views: 309578 BA-EXPERTS
The Scientific Method: Steps, Examples, Tips and Exercise
 
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The scientific method is an important tool to solve problems and learn from our observations. Thanks to our donors who made this video possible. To gift a video or support our channel visit http://patreon.com/sprouts Other good videos about the method: https://www.youtube.com/watch?v=3MRHcYtZjFY https://www.youtube.com/watch?v=SMGRe824kak Read the full script here: http://drawing.normalpage.com/post/scientific-method-Bg0b$utq4
Views: 201234 Sprouts
SWOT Analysis & TOWS Analysis with Examples
 
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In this video, I am explaining another very important tool in DEFINE phase i.e. SWOT analysis, acronym for Strengths, Weaknesses, Opportunities, and Threats. By using this tool, it forces team to think about the process or business, in a complete new way. We must carry out TOWS analysis after SWOT analysis, which is missed in many practical cases. I have explained importance of it in this video. A SWOT analysis is helping us to develop a strong business strategy by making sure that we have considered all of our business’s Strengths and Weaknesses, as well as the Opportunities and Threats in the marketplace. I have explained this concept with practical example which is very easy to understand. I have also explained a TOWS analysis, which is an extension of SWOT analysis and most important for developing strategies. I have explained all TOWS strategies also with practical examples. I am sure you will like it.
"How did you handle a difficult situation?" in Job Interview
 
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"Tell me about a difficult situation or challenge you faced in a workplace" By asking this question, employers are trying to see how you (A) take charge in handling a challenging situation, or (B) collaborate with your coworkers as a team to solve a conflict. They want to know if you have critical thinking and problem solving skill, how you approach the problem and the level of responsibility you take in challenging situations. It is very important to make sure that you use an example that demonstrates your ability to handle difficult situation. So do not mention about when you elevated the responsibility. Rather, talk about times when you stepped up and took a leadership position by collaborating with your coworkers. In order to construct effective story, use PAR model and follow the 3 steps. 1 Problem: Identify the problem. What was the issue? 2 Action: How did you and your coworkers analyzed the problem and took actions to solve the issue? 3 Result: What was the positive outcome in result of the action? By following PAR model, you can frame your story well. Watch the video to see example answer and start constructing your answer. Jobspeaker is a FREE service to help job seekers find better jobs. Login today!
Views: 685643 Jobspeaker
Software Development Lifecycle in 9 minutes!
 
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This video will cover the SDLC with specific focus on the software quality assurance testing phase. http://www.testaholic.net/understanding-the-software-development-life-cycle
Views: 389072 Testaholic
Qualitative analysis of interview data: A step-by-step guide
 
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The content applies to qualitative data analysis in general. Do not forget to share this Youtube link with your friends. The steps are also described in writing below (Click Show more): STEP 1, reading the transcripts 1.1. Browse through all transcripts, as a whole. 1.2. Make notes about your impressions. 1.3. Read the transcripts again, one by one. 1.4. Read very carefully, line by line. STEP 2, labeling relevant pieces 2.1. Label relevant words, phrases, sentences, or sections. 2.2. Labels can be about actions, activities, concepts, differences, opinions, processes, or whatever you think is relevant. 2.3. You might decide that something is relevant to code because: *it is repeated in several places; *the interviewee explicitly states that it is important; *you have read about something similar in reports, e.g. scientific articles; *it reminds you of a theory or a concept; *or for some other reason that you think is relevant. You can use preconceived theories and concepts, be open-minded, aim for a description of things that are superficial, or aim for a conceptualization of underlying patterns. It is all up to you. It is your study and your choice of methodology. You are the interpreter and these phenomena are highlighted because you consider them important. Just make sure that you tell your reader about your methodology, under the heading Method. Be unbiased, stay close to the data, i.e. the transcripts, and do not hesitate to code plenty of phenomena. You can have lots of codes, even hundreds. STEP 3, decide which codes are the most important, and create categories by bringing several codes together 3.1. Go through all the codes created in the previous step. Read them, with a pen in your hand. 3.2. You can create new codes by combining two or more codes. 3.3. You do not have to use all the codes that you created in the previous step. 3.4. In fact, many of these initial codes can now be dropped. 3.5. Keep the codes that you think are important and group them together in the way you want. 3.6. Create categories. (You can call them themes if you want.) 3.7. The categories do not have to be of the same type. They can be about objects, processes, differences, or whatever. 3.8. Be unbiased, creative and open-minded. 3.9. Your work now, compared to the previous steps, is on a more general, abstract level. You are conceptualizing your data. STEP 4, label categories and decide which are the most relevant and how they are connected to each other 4.1. Label the categories. Here are some examples: Adaptation (Category) Updating rulebook (sub-category) Changing schedule (sub-category) New routines (sub-category) Seeking information (Category) Talking to colleagues (sub-category) Reading journals (sub-category) Attending meetings (sub-category) Problem solving (Category) Locate and fix problems fast (sub-category) Quick alarm systems (sub-category) 4.2. Describe the connections between them. 4.3. The categories and the connections are the main result of your study. It is new knowledge about the world, from the perspective of the participants in your study. STEP 5, some options 5.1. Decide if there is a hierarchy among the categories. 5.2. Decide if one category is more important than the other. 5.3. Draw a figure to summarize your results. STEP 6, write up your results 6.1. Under the heading Results, describe the categories and how they are connected. Use a neutral voice, and do not interpret your results. 6.2. Under the heading Discussion, write out your interpretations and discuss your results. Interpret the results in light of, for example: *results from similar, previous studies published in relevant scientific journals; *theories or concepts from your field; *other relevant aspects. STEP 7 Ending remark Nb: it is also OK not to divide the data into segments. Narrative analysis of interview transcripts, for example, does not rely on the fragmentation of the interview data. (Narrative analysis is not discussed in this tutorial.) Further, I have assumed that your task is to make sense of a lot of unstructured data, i.e. that you have qualitative data in the form of interview transcripts. However, remember that most of the things I have said in this tutorial are basic, and also apply to qualitative analysis in general. You can use the steps described in this tutorial to analyze: *notes from participatory observations; *documents; *web pages; *or other types of qualitative data. STEP 8 Suggested reading Alan Bryman's book: 'Social Research Methods' published by Oxford University Press. Steinar Kvale's and Svend Brinkmann's book 'InterViews: Learning the Craft of Qualitative Research Interviewing' published by SAGE. Text and video (including audio) © Kent Löfgren, Sweden
Views: 781366 Kent Löfgren
The Scientific Method: Steps, Terms and Examples
 
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Visit Study.com for thousands more videos like this one. You'll get full access to our interactive quizzes and transcripts and can find out how to use our videos to earn real college credit. YouTube hosts only the first few lessons in each course. The rest are at Study.com. Take the next step in your educational future and graduate with less debt and in less time.
Views: 752003 Study.com
Bloom's Taxonomy: Why, How, & Top Examples
 
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SUPPORT THIS CHANNEL: Help keep me going with a tip or contribution https://paypal.me/frankavella?locale.x=en_US TEACHERSPAYTEACHERS STORE Classroom Posters, Courses, Lessons, Presentations, and More https://www.teacherspayteachers.com/Store/Teachings-In-Education TEESPRING IN EDUCATiON Stickers, Dress Down Gear, Phone Cases, Coffee Mugs, and More https://teespring.com/stores/teespring-in-education-2 FOR PROFESSIONAL DEVELOPMENT & ON-SITE TRAININGS CONTACT: [email protected] SOCIAL MEDIA https://www.linkedin.com/in/frank-avella-404b59b5/ https://twitter.com/frank_avella The Bloom's Taxonomy PowerPoint Point Presentation: https://www.teacherspayteachers.com/Product/Teachers-Guide-to-Blooms-Taxonomy-Slides-Presentation-3810316 Bloom's Taxonomy Posters: https://www.teacherspayteachers.com/Product/Blooms-Taxonomy-Classroom-Posters-3556627 Bloom's Taxonomy is fully explained in detail for educators across various disciplines. The video answer the question of why should teachers and educators use Blooms Taxonomy in their practice. Next the purpose of Blooms Taxonomy is discussed as well. The purpose of Blooms Taxonomy given is in line with that of Benjamin Bloom. The origins of Bloom's Taxonomy and the history of its revision is summarized as a bit of background knowledge. This outlines the various levels of bloom's taxonomy starting with remembering, understanding, applying, analyzing evaluating and creating. These levels of blooms taxonomy are the revised levels as opposed to the original levels. Teachers can use blooms taxonomy to write and plan lessons. Educators everywhere should have a broad understanding of Blooms Taxonomy. The overall goal of this video is help teachers have a good understanding Blooms taxonomy. Blooms taxonomy is very similar to Webb's Depth of knowledge. Both Blooms and Webbs relate to measuring students cognition. Blooms taxonomy is more frequently used for writing and planning tasks. Webbs depth of knowledge, on the other hand is used to simple evaluate the students thinking process.
Views: 262516 Teachings in Education
What is Strategic Planning, Really?
 
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Before starting any strategic planning process, it is essential to make sure your staff or team members have the same expectations of what the outcomes will be. This video explains the different possible outcomes that can arise from strategic planning. It can range from simply having an articulated plan, to a full-blown organizational transformation. Choose the result that is right for your organization. More information is available at http://OnStrategyHQ.com. Want more practical tips and insights on strategic planning? Subscribe to our channel here - https://www.youtube.com/channel/UCc5cYNhQ8oYNdjmXBy7Z-ug Download a FREE Complete Guide to Strategic Planning - http://onstrategyhq.com/complete-strategy-guide/ Follow us on Facebook - https://www.facebook.com/OnStrategyHQ/?fref=ts Connect with us on LinkedIn - https://www.linkedin.com/company/onstrategy Connect with Erica Olsen on LinkedIn - https://www.linkedin.com/in/ericajolsen
Views: 582399 virtualstrategist
process capability and process capability index
 
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In this video, I explain the concepts of process capability and process capability index.
Views: 226654 Saravanan Kuppusamy
Project Proposal Writing: How To Write A Winning Project Proposal
 
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Project proposal writing. Learn how to write a project proposal that gets your project funded. Try our award-winning PM software for free: https://www.projectmanager.com/?utm_source=youtube.com&utm_medium=social&utm_campaign=ProjectProposalWritingHowToWriteAWinningProjectProposal Struggling to write a proposal that "sells" your project? Can't work out why your brilliantly written and formatted proposals fail to engage the decision-makers that count? Watch as ProjectManager.com Director Devin Deen shares his winning project proposal writing tips with you in this short but compelling project management video on "how to write winning project proposals." Click the link below to claim your free 30-day trial of ProjectManager.com https://www.projectmanager.com/?utm_source=youtube.com&utm_medium=social&utm_campaign=ProjectProposalWritingHowToWriteAWinningProjectProposal Subscribe to our YouTube Channel here: https://www.youtube.com/user/projectmanagervideos New to project management? Watch Project Management For Beginners right here: https://www.youtube.com/watch?v=RT66tw1cKCA
Views: 1004044 Project Management Videos
Learn How Value Stream Mapping Applies to Any Industry or Process
 
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http://GembaAcademy.com | In this video Ron Pereira explains what value stream mapping is all about and how it can be used to map any process - manufacturing or transactional. To see more VSM and Lean Thinking training videos please visit http://GembaAcademy.com.
Views: 144404 Gemba Academy
Risk and How to use a Risk Matrix
 
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In this video we will take a look at what risk is and how to use a simple risk matrix. This video was created by Ranil Appuhamy Voiceover - James Clark -------------------------------------------------------------------------------------------------------- Disclaimer: These videos are provided for educational purposes only. Users should not rely solely on the information contained within these videos and is not intended to be a substitute for advice from other relevant sources. The author/s do not warrant or represent that the information contained in the videos are accurate, current or complete and do not accept any legal liability or responsibility for any loss, damages, costs or expenses incurred by the use of, or reliance on, or interpretation of, the information contained in the videos.
Fishbone Diagram: Practical description with examples
 
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In this video, I have explained 2nd Quality Control tool i.e. Fishbone diagram in very detailed. I have also explained procedure in very easy way about how to create a Fishbone diagram on Flipchart or Whiteboard, in Microsoft Excel as well as in Minitab. Everything is with steps, snapshots and examples, which will be very easy to understand. I am sure, you will liked it. The next important point is about communication for launching of my website: I am very glad to announce a launching of my website related to Lean, Six Sigma and Personality development coaching. Please visit to my website by clicking on this link and add your valuable views and comments regarding it. https://www.learnandapply.org/ I have also created recommendation page to share secret of my success with you. You can visit this link to review it. https://www.learnandapply.org/recommondations For the best audio recording experience, you can visit Samson product by visiting this link: https://amzn.to/2HkvFva For better management of your time and skills, you must read 'Managing Oneself' book: https://amzn.to/2Hmf0Ht I am sure you will like this video as well as initiatives I have started.
How to Write a Literature Review in 30 Minutes or Less
 
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"How to Write a Literature Review in 30 Minutes or Less" breaks down this academic assignment into 5 easy steps: (There is a text version of this video: http://www.peakwriting.com/litreview/Index.html 1. Strip out summary paragraphs from research 2. Reorder summary paragraphs for the liteature review 3. Combine paragraphs if necessary 4. Add topic sentences and transitions to form literature review's body paragraphs 5. Add introduction and conclusion paragraphs to complete the literature review The literature review does not have to be a daunting or mysterious academic assignment. As a matter of fact, the so-called "literature review" is a common task in the professional workplace but is called a "backgrounder" or "background research" instead of a literature review. The video provides a real-world example of writing a practical literature review as an HR employee in an IT company. Stop being intimadated by what is actually an easy assignment by learning what a literature review really is and how to do one quickly and easily. Review of Literature | Literature Review Example | Literature Review Sample | Literature Survey | Literature Review Format | Literature Review Dissertation | Example of Literature Review | Writing a Literature Review
Views: 646397 David Taylor
5 tips to improve your critical thinking - Samantha Agoos
 
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View full lesson: http://ed.ted.com/lessons/5-tips-to-improve-your-critical-thinking-samantha-agoos Every day, a sea of decisions stretches before us, and it’s impossible to make a perfect choice every time. But there are many ways to improve our chances — and one particularly effective technique is critical thinking. Samantha Agoos describes a 5-step process that may help you with any number of problems. Lesson by Samantha Agoos, animation by Nick Hilditch.
Views: 4697790 TED-Ed
McKinsey Case Interview Example - Solved by ex-McKinsey Consultant
 
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Watch now a McKinsey-style case solved by an ex-McKinsey consultant! Do you want to watch a case interview where I interview a real candidate using this very same case? Go to www.craftingcases.com/BEDANDBATH to get that video. I added my comments to it, where I tell you what she did right, what she did wrong, and what you should be learning from her major mistakes. This case could be found in a first round or in a final-round partner interview in McKinsey, Bain, or BCG, in any office around the world. Most candidates would not be able to create a MECE framework to this case - I would say 60-80% would not pass. The reason is that this is an unusual, out-of-the-box case question. Pre-made frameworks like Victor Cheng's, Case in Point's, and others would not help. In this video, you will watch me, Julio, an ex-Bainee, interviewing Bruno, ex-McKinsey, with a hard, MBB-level case. A tough one. Bruno can get away safely. He would definitely get an offer based on this. Would you? Table of contents (so you can find stuff later in the future): 00:34 - Case question 03:21 - Bruno's answer 10:29 - Brainstorming question 11:35 - Bruno's answer to Brainstorming question 16:22 - Follow-up question and answer 19:28 - Analytical question 21:10 - Bruno's answer 26:31 - Recommendation question 26:54 - Bruno's recomendation If you'd like to see more case interview examples like this one, let us know in the comments and we'll definitely act upon it. If you've liked this video, make sure you click the Like button and leave a comment below! (This lets Youtube know this video's good and will make it show it to more people). If you want to hear more from us, click Subscribe (and click the Alarm Bell button if you want to get notified whenever we release a new video). If you have any questions, ask it in the comments below - I'll read and answer each one of them and may even make a video about it, who knows! And if you know someone (or someones) who might benefit from our videos, make sure you share it using the Share button next to the Like button. Hope the best for your case interview preparation and I'll see you on the next video :) Julio Music in the video: "Autumn Mvt 3 Allegro" by John Harrison with the Wichita State University Chamber Players Licensed under Creative Commons: By Attribution 3.0 License https://creativecommons.org/licenses/by/3.0/ "Funk Game Loop" Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License https://creativecommons.org/licenses/by/3.0/
Views: 139685 CraftingCases
Business Analyst Templates - Examples, Samples, and Techniques
 
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One of the more frequently asked questions we receive from business analysts is what a typical set of template examples look like. And, in particular, what the templates in our template toolkits look like. To answer this question, I recorded a short demo each of our 5 business analyst template toolkits. You’ll receive a sneak peek into: ~Business Analyst Template Toolkit ~Email Communication Templates ~Requirements Discovery Checklist Pack ~Project Prioritization Organizer ~Visual Model Sample Pack You’ll leave this session with a better understanding of how templates support business analyst workflows and if the templates offered by Bridging the Gap would be a worthwhile investment for you. To learn more about our BA Templates, click here: http://www.bridging-the-gap.com/business-analyst-templates/
Views: 7762 Bridging the Gap
Design Thinking and Innovation At Apple
 
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A Harvard business case: Winner of a 2013 ecch Case Award. It describes Apple's approach to innovation, management, and design thinking
Views: 68962 Wei Li
What is Agile?
 
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This short cartoon answers the question "What Is Agile?" and will give you the background to understand the Agile principles and values and how they can help you and your team work together more efficiently. If you'd like a free book on this topic, please see below... https://mailchi.mp/326ba47ba2e8/agile-list I've published a book called "Starting Agile" that is designed to help you start your team's Agile journey outright. You can buy a copy from Amazon, but I'm giving free copies away to my subscribers from YouTube. You can signup for a copy at the link above. You can subscribe to my channel with this link: https://www.youtube.com/markshead?sub_confirmation=1 If you'd like to connect with me on LinkedIn you can find me at the link below. Just send me a message saying hello and that you found me from one of my videos: https://www.linkedin.com/in/markshead
Views: 1268576 Mark Shead
Takt Time, Cycle Time, Lead Time
 
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Learn about Takt Time, Cycle Time, and Lead Time- what they are and when they apply.
Views: 349844 OpsExcellence
Uber Business Model : What makes it so Disruptive?
 
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What makes Uber so successful in such a crowded industry? The answer is Business Model Innovation. How Uber designs a perfect user experience and what is its long-term business strategy. Get full course here 👉 https://goo.gl/sTSstm . And please, if you like the course, leave a good review, it is EXTREMELY helpful for me to continue providing this knowledge. Thanks a lot! Here's your link: https://goo.gl/sTSstm #Uber #Business #Innovation The Business Model tool is used under creative commons license and credit attribution to strategyzer.com
Views: 41355 Business Disruptors
Zero Based Budgeting: Definition & Process |Advantages or disadvantages/ Examples👍
 
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What is Zero-Based Budgeting: Definition & Process |Advantages or disadvantages/ Examples #Zero Based #Budgeting, also called #ZBB, is the process of creating a budget from nothing without using the prior year’s budget or spending numbers. No activities are assumed to be untouchable. All expenses are judged and must be justified in order to remain in the budget. Zero-Based Budgeting Definition In another way to explain this concept, under Zero Based @Budget, managers are required to justify all budgeted expenditures, not just changes in the budget from the previous year. The baseline is zero rather than last year’s budget. Here is a link: https://home-work-help.blogspot.com/ ______________________________________________________ Speed Study Techniques- Top Selling Book "Don't Study Harder, Study SMARTER! Introducing The Speed Study System Anyone Can Use To Get Better Grades In Less Time And With Less Effort -Guaranteed!" Here is the link: https://bit.ly/2M1XNBW ________________________________ Also, Check More Videos: How to study effectively in school, college, and University ►1. https://www.youtube.com/watch?v=C4a8L9uSsPo How to get A+ in an accounting class? ►2. https://www.youtube.com/watch?v=A-M1r_KZmaM Basic Accounting 📕in 10 ⏱ minutes 🎯 👌 ►3. https://www.youtube.com/watch?v=7FKllB7SHDk ________________________________ Check out Playlist: Study Tips https://www.youtube.com/watch?v=C4a8L9uSsPo&list=PLomk7m_UNRFvzCy-FZZswukOsjRi-Xtqg ________________________________ Social engagement: ★Facebook:https://www.facebook.com/accountingPlusS/ Don't forget to subscribe us. Subscribe us: https://www.youtube.com/accountingplus ♥ We are waiting for your feedback in comments. ♥ ♥ Thanks ________________________________ Zero-based budgeting process There are a few different steps in zero-based budgeting to keep in mind. The process of zero-based budgeting follows the same basic steps: 1. Identify business goals 2. Develop and analyze new ways to achieve goals 3. Discover new ways to fund business processes 4. Prioritize funds Zero Based Budgeting advantages Resulting budget is well justified and aligned to strategy • Catalyzes broader collaboration across the organization • Supports cost reduction by avoiding automatic budget increases, often resulting in savings • Improves operational efficiency through rigorous challenging of assumptions Zero Based Budgeting Disadvantages There are also disadvantages to the application of Zero Based Budgeting: Time-consuming Sometimes the necessary expenditures are hard to define for managers as a result of which it becomes too time-consuming and exhaustive a process to arrive at a solid foundation with respect to the decision-making about the investment. Requires manpower This approach forces staff (especially managers) to justify every detail related to the expenditures. For instance, because the R&D department cannot completely underpin their intended innovation, this could have advantages for the budgeting of another department because they are able to justify their expenditures in great detail. Zero Based Budgeting requirements This financial management approach requires much documentation and justification. In addition to the total budget, the manager responsible must identify all expected expenditures and rank all of the activities according to their relevant importance and costs. The persons ultimately responsible (high-level managers) can make decisions about investments and budget cuts that can be justified at all times based on their supporting information and no immediate pre-financing as is the case in the traditional manner of budgeting. Zero Based Budgeting Application This type of budgeting usually occurs in the government and non-profit sectors. The philosophy behind Zero Based Budgeting is good. However, it should be noted that zero-based budgeting requires frequent reviews. In Zero Based Budgeting reviews are carried every year on account of the fact that it is a time-consuming and costly process. Interim reviews can be carried out but that is the organization’s choice with respect to time and priority. Zero-based budgeting example Let’s say you run a hair salon and sell shampoo and conditioner to customers. Last year, you purchased these products from another company for $30,000. You decide to use zero-based budgeting for the upcoming year. As you’re listing expenses, you realize you can make your own hair products for cheaper than the supplier’s price. Making your own products will save you $22,000. Reference: https://efinancemanagement.com/budgeting/zero-based https://www.myaccountingcourse.com/accounting-dictionary/zero-based-budgeting https://www2.deloitte.com/content/dam/Deloitte/us/Documents/process-and-operations/us-cons-zero-based-budgeting.pdf @Accounting #Budgeting #zero
Views: 18388 Accountingplus
Examples of FMEA and RPN | Failure Mode Effect Analysis | Six Sigma Tutorials
 
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http://www.simplilearn.com/quality-management/six-sigma-green-belt-training?utm_campaign=videonamet&utm_medium=youtube&utm_source=youtube FMEA refers to Failure Mode Effect Analysis. It is basically a tool used during the analyze phase of Six Sigma. The purpose of this is to analyze the failure modes that may result in the failure of a process or deviates the process from delivering quality output. Basically studying the cause and the risk involved and plugging in the presentation measures for the controllable ones.
Views: 9292 Simplilearn
Jerry Seinfeld Interview: How to Write a Joke | The New York Times
 
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Jerry Seinfeld describes the anatomy of his Pop-Tart joke, still a work in progress, and shows his longhand writing process. Subscribe on YouTube: http://bit.ly/U8Ys7n --------------------------------------------------------------- Want more from The New York Times? Watch more videos at: http://nytimes.com/video Facebook: https://www.facebook.com/nytvideo Twitter: https://twitter.com/nytvideo Instagram: http://instagram.com/nytvideo Whether it's reporting on conflicts abroad and political divisions at home, or covering the latest style trends and scientific developments, New York Times video journalists provide a revealing and unforgettable view of the world. It's all the news that's fit to watch. On YouTube. Jerry Seinfeld Interview: How to Write a Joke | The New York Times http://www.youtube.com/user/TheNewYorkTimes
Views: 2089279 The New York Times
Value Chain of Porter explained
 
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This webseminar explains the Value Chain of Porter (in Dutch: waardeketen) Have a look at my webinars concerning these models: 6 Steps of marketing planning: https://youtu.be/v99uQvI4AiM Michael Porter's Generic Strategies explained: https://youtu.be/Nz53CopmFig Treacy & Wiersema's Value strategies explained: https://youtu.be/NtuArGXUP9Y Ansoff's growth matrix explained: https://youtu.be/htp5YTvIymQ Michael Porter's 5 Forces model explained: https://youtu.be/33XmkfbzwO8 The BCG Model explained: https://youtu.be/tKO5TpR2UwE 7S model of McKinsey: https://youtu.be/yGceFEDmtIM SWOT Analysis explained: https://youtu.be/bunYnEGaEvs Abell's Business Definition explained: https://youtu.be/pzKymyGLaBg MABA Portfolio analysis explained: https://youtu.be/dWWg2dPSfgI Please subscribe to my channel for future webinars and like this video if it is valuable for you! You can also leave your comments or requests in the section below to ask for any other models which you would like to have explained in a webinar. Thank you all for watching and good luck with your exams or business!
Views: 86833 Pepijn Schoemaker
What Is Risk Management In Projects?
 
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Watch this video to learn all about risk management in projects, as explained by a PMP. Try our Award-Winning PM Software for free: https://www.projectmanager.com/?utm_source=youtube.com&utm_medium=social&utm_campaign=WhatIsRiskManagementInProjects What is risk management? How is risk management in projects defined? What role does the Triple Constraint play in project management? These questions centered around risk management in projects are all answered in this brief video hosted by Director, Jennifer Whitt. Be sure to WATCH THE ENTIRE VIDEO and learn exactly what project risk management is, along with how and when to apply it. Learn about the Triple Constraint and how elements of risk can affect the scope, quality cost or time of a project. Jennifer also talks about the relationship between the project management plan and the risk management plan. What is entailed in the risk management plan? Basically, it's the (risk management) process or the determination of how to manage risk on the project. Risk management tools such as project management software, excel and templates are also a vital part of project risk management Plus, you'll learn about all the activities used to manage risk throughout the entire project. Want to know more? Watch this video on project risk management and then... Click the link below to CLAIM YOUR FREE 30 DAY TRIAL OF PROJECTMANAGER.COM https://www.projectmanager.com/?utm_source=youtube.com&utm_medium=social&utm_campaign=WhatIsRiskManagementInProjects SUBSCRIBE to our YouTube Channel here: https://www.youtube.com/user/projectmanagervideos
ARMA(1,1) processes - introduction and examples
 
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In this video I explain what is meant by an ARMA(1,1) process, and provide a couple of examples of processes which could be modelled as thus. Check out http://www.oxbridge-tutor.co.uk/undergraduate-econometrics-course for course materials, and information regarding updates on each of the courses. Check out https://ben-lambert.com/econometrics-course-problem-sets-and-data/ for course materials, and information regarding updates on each of the courses. Quite excitingly (for me at least), I am about to publish a whole series of new videos on Bayesian statistics on youtube. See here for information: https://ben-lambert.com/bayesian/ Accompanying this series, there will be a book: https://www.amazon.co.uk/gp/product/1473916364/ref=pe_3140701_247401851_em_1p_0_ti
Views: 97298 Ben Lambert
Business Analyst Interview Questions and Answers – How to Really Sell Your BA Skills
 
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Get the interview prep guide here: https://www.bridging-the-gap.com/prepare-for-ba-job-interview/ If you are preparing for your first business analyst job interview or if it’s been awhile since you’ve interviewed, you are probably wondering what questions you can expect and how to answer them. Interviewing for a business analyst job is very different than interviewing for a more technical or domain-focused role. In particular, what’s different is how you answer questions to position your skills to a potential employer. I’ve been on both sides of the business analyst job interview process multiple times – I’ve hired several BAs and, while I was contracting, I interviewed for several BA positions. In this video, I share my insider tips on how to prove you have the business analysis skills your employer wants to see in an interview. And here is the link to the free Interview Prep Guide I mention in the video: http://www.bridging-the-gap.com/prepare-for-ba-job-interview/ Read more on the blog now: http://www.bridging-the-gap.com/ba-interview-sell-skills/
Views: 144903 Bridging the Gap
Globalization explained (explainity® explainer video)
 
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Globalization is a topic that is often debated controversally. It concerns all of us, but what exactly is globalization and what is its impact on every single one of us? explainity tackles exactly this question and gives some answers in this short clip. Script download: www.explainity.com/education-project/transskripte/ ------- This explainer video was produced by explainity GmbH Homepage: www.explainity.com E-Mail: [email protected] This explanatory film was produced and published for private, non-commercial use and may be used free of charge in this context for private purposes without consultation or written authorization. Please note, however, that neither the content nor the graphics of this explanatory film may be altered in any way. Please always give explainity as the source when using the film, and if you publish it on the internet, provide a reference to www.explainity.com. For commercial use or use for training purposes, such as projection of the film at training events (e.g. projection of the film as a teaching aid in school or in adult education), a licence is required. Further information on this subject will be found here: https://www.explainity.com/education-project If you are interested in an own explainity explainer video, visit our website www.explainity.com and contact us. We are looking forward to your inquiry.
Views: 1556360 explainitychannel
Adapting the ITIL Process Map to your Organization - Examples
 
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The ITIL Process Map provides you with a set of ITIL templates plus the means to adapt the process diagrams to your own organization's needs. Three examples illustrate some techniques for working with the Visio ITIL templates, including the usage of a simple Excel Repository for managing all central object information of the ITIL reference process model. Learn how to adapt the pre-configured ITIL best practice templates to the requirements of your organization! For more information about the ITIL Process Map, check out the link below: ► https://en.it-processmaps.com/products/itil-process-map.html The ITIL Excel repository feature - How to store and manage the objects of the ITIL process model in a simple Excel table: ► https://en.it-processmaps.com/products/visio-excel-repository.html IT Process Maps YouTube Channel: ▲ https://www.youtube.com/user/itprocessmaps Video (Deutsch): ► https://youtu.be/RabII2Rm03Q _____ ITIL® is a registered trade mark of AXELOS Limited. "Microsoft®", "Excel®" and "Visio®" are registered trademarks of Microsoft Corp.
Views: 1168 ITIL Process Map
Best Way to Answer Behavioral Interview Questions
 
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Watch Don answer sample Behavioral questions. Learn how to answer behavioral interview questions using the STAR Formula. Employers love asking behavioral questions during the interview process because this type of questioning will does a better job of revealing your core competencies and is a great indicator of how well you'll be able to perform this job. Behavioral questions can be answered using the STAR formula and in this video, we break down the STAR formula and show you how to use it to your advantage to you are prepared to answer any behavioral question that comes your way. How to Answer Behavioral Interview Questions Using the STAR Formula STAR stands for: Situation – Task – Action - Result 1. First, describe a work related Situation or Task that you needed to accomplish, and be concise. 2. Then describe the Action you took. Don’t tell them what you might do or would do, you need to tell them what you did. 3. Finally, describe what happened -- the result. What did you accomplish? What did you learn? How much time or money did you save? And most importantly does your result solve the problem you described in step 1. That’s the formula for answering any behavioral question. Behavioral or competency-based interviews are simply a set of questions that ask you to talk about examples from your past work experience to help an interviewer figure out your strengths. Behavioral interviewers will look for the three parts (Problem, Action, Results) of your answer and take notes about how you answered the question. In this free program you’ll learn how to improve your interview performance with my simple step-by-step formula for interview success. To get the list of behavioral questions this video mentions, you need to register for this free program here: http://www.jobinterviewtools.com/advantage/ To download the complete interview answer guide go to http://www.jobinterviewtools.com
Views: 1429388 Don Georgevich
Interview Question: Tell me about a time you handled a difficult situation
 
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You'll definitely encounter this question during your next interview, so make sure you know how to answer it! For more career tips, visit http://careerly.co
Views: 2038280 Careerly
Gaslighting Examples -How It Feels and Ways to Recover
 
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Gaslighting, what is it and how does it feel? Also, ways to deal with it and recover after. Lise Colucci is one of the narcissistic abuse recovery life coaches at QueenBeeing.com. For info or to schedule a coaching appointment with Lise go to http://queenbeeing.com/lise-colucci-c... Join The QueenBeeing SPANily (Support for People Affected by Narcissistic abuse in toxic relationships) - AKA "The SPANily" - at http://queenbeeing.com/span. Thanks for watching Life Makeover TV! Visit our channel. Be sure to visit our website, http://lifemakeover.org for more life hacking tips, and connect with us on Facebook. “The good life is a process, not a state of being. It is a direction not a destination.” ~Carl Rogers ARE YOU INTERESTED IN TAKING YOUR LIFE TO A WHOLE NEW LEVEL? If so, you’re in the right place. At Life Makeover TV, we’re about just one thing – creating the life you truly want and deserve! It’s about your personal life, your physical health, your spiritual and psychological wellbeing and even your professional life! We believe you can have everything you want so much that we’re creating a whole new MOVEMENT here at Life Makeover TV! Whether you’re just getting started in life or you’ve been around the block a few times, chances are that you’re full of thoughts, experiences and ideas that lead you to want to fix parts of your life. And, being human, it’s only sensible that you’ve got so many different things you’d like to change that you don’t even know where to begin. Maybe a “whole life” change is too much for you? But here’s the thing. It’s really not about jumping into a whole new personality by tomorrow afternoon–nope. In reality, what this whole life fix movement is all about is pretty simple–it’s a whole attitude change and comes along with a whole host of tools to help you in the day-to-day challenges that beat you down. LIFE MAKEOVER TV IS FOCUSED ON IMPROVING EVERY ASPECT OF YOUR LIFE. Take some time and look around and get involved in our community. If you’re tired of the life you’re living and you’re ready to create serious personal change, you have found your new online home.
Views: 237 Life Makeover TV
How Does Ripple Work? Is It CENTRALIZED? A Simple Explanation With Examples!
 
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I finally took some time and did thorough research of Ripple just to see what its purpose is, how it works, and whether or not it's centralized (and if so, to what extent). I learned a lot about Ripple so I wanted to share with you my findings in this overview video with plenty of examples! Some high-level topics: - Ripple ledger, network, open-source consensus protocol - Real-time gross settlement, remittances, forex currency exchange - IOUs vs XRP for payment transactions - Banks and liquidity providers - XRP as a bridge currency (avoids counterparty risk) - Market maker definition and role - Consensus protocol and ledger - Centralization and balance freeze I hope this helps! P.s. I do not own any Ripple, nor am I a shill for it! ******************************************** Hey everyone, thanks for watching. If you enjoyed this video please give me a LIKE and SUBSCRIBE to catch all my future content. If you have any questions definitely leave me a comment below and I’ll try my best to get back to you! Disclaimer: I am not an official investment advisor - everything I say is purely my opinion. Some of my videos are sponsored, those will be clearly marked by YouTube. If you’re dealing with a new process it’s always RECOMMENDED to try out the whole process end-to-end with a smaller amount before you move the bulk of it. If you want to sign up for various exchanges, you can use my referral code for bonuses. I use all of these exchanges and recommend them: Coinbase/GDAX: https://www.coinbase.com/join/5925a6f5f35ce600bcd082d2 Binance: https://www.binance.com/?ref=11165323 Kucoin: https://www.kucoin.com/#/?r=1KRQ5QR Changelly: https://changelly.com/?ref_id=38a4c94cf5c4 Cryptopia: https://www.cryptopia.co.nz/Register?referrer=stellarowl12 Also be sure to check out our communities: Facebook (Main Group): https://www.facebook.com/groups/cryptoforbeginners/ Facebook (Trading): https://www.facebook.com/groups/tradingforbeginners/ Facebook (Mining): https://www.facebook.com/groups/miningforbeginners/ Facebook (ICOs): https://www.facebook.com/groups/icoforbeginners/ Steemit: https://steemit.com/@btcforbeginners Instagram: https://www.instagram.com/btcforbeginners/ Twitter: https://twitter.com/btcforbeginners/ Intro Music Credits: ‘Soaring Intro A” Jay Man – OurMusicBox http://www.youtube.com/c/ourmusicbox
Views: 11843 Bitcoin for Beginners
Earned value analysis worked example
 
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Check out http://www.engineer4free.com for more free engineering tutorials and math lessons! Project Management Tutorial: Earned value analysis worked example. Please support my work: PATREON | https://www.patreon.com/Engineer4Free Every dollar is seriously appreciated and enables me to continue making more tutorials
Views: 185499 Engineer4Free
Understanding IELTS  test format.
 
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IELTS: a four skills assessment ,evaluates the level of English based on Listening,Reading,Writing and Speaking.
Views: 1128736 RNM Training
Types of Data: Nominal, Ordinal, Interval/Ratio - Statistics Help
 
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The kind of graph and analysis we can do with specific data is related to the type of data it is. In this video we explain the different levels of data, with examples. Subtitles in English and Spanish.
Views: 943592 Dr Nic's Maths and Stats
Intro to Hypothesis Testing in Statistics - Hypothesis Testing Statistics Problems & Examples
 
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Get the full course at: http://www.MathTutorDVD.com The student will learn the big picture of what a hypothesis test is in statistics. We will discuss terms such as the null hypothesis, the alternate hypothesis, statistical significance of a hypothesis test, and more. In this step-by-step statistics tutorial, the student will learn how to perform hypothesis testing in statistics by working examples and solved problems.
Views: 1506590 mathtutordvd
What makes something "Kafkaesque"? - Noah Tavlin
 
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View full lesson: http://ed.ted.com/lessons/what-makes-something-kafkaesque-noah-tavlin The term Kafkaesque has entered the vernacular to describe unnecessarily complicated and frustrating experiences, especially with bureaucracy. But does standing in a long line to fill out confusing paperwork really capture the richness of Kafka’s vision? Beyond the word’s casual use, what makes something "Kafkaesque"? Noah Tavlin explains. Lesson by Noah Tavlin, animation by TED-Ed.
Views: 3558591 TED-Ed
Calculating Numbers on a Rental Property [Using The Four Square Method!]
 
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Learn how to analyze a rental property with the unique "four square" method and make sure your next rental property investment is a cash cow! In this video from BiggerPockets.com, Brandon Turner (author of The Book on Rental Property Investing and co-host of the BiggerPockets Podcast) shares with you the step by step method for determining the monthly cash flow and cash on cash return for any rental property investment. Calculating the numbers on a rental property doesn't need to be difficult - and this video proves it.
Views: 1375818 BiggerPockets
Interviewing with McKinsey: Case study interview
 
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Learn what to expect during the case study interview. Hear what some recent hires did - and did not - do to prepare.
Views: 638566 McKinsey & Company
Best answer to: "Most Difficult Problem You Faced."
 
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What is the most difficult situation you have faced? Could you describe a difficult problem and how you dealt with it? This question is sure to come up and though the interviewer asked how "you" dealt or solved the problem, he really wants to hear how you worked with a team of people to solve a problem. This is a problem solving question that tests your critical thinking skills and is looking for two pieces of information: Your definition of difficult and how you handled the situation. This is a great question for showing that you are creative and capable problem solver. You should have at least one of these stories ready to go that will make you look good (it's okay to brag a little in an interview), but having a few of them will allow you to further expand on the question. Try to avoid co-worker related problems unless you had to fire someone. The interviewer does not want to hear how you fixed a light bulb or un-jammed the copy machine. A good team player example is the best way to answer this question. Best answer: Your story should be one which puts you in a tough position where you analyzed and discussed the problem, reached a conclusion, and that you came out on top and it was a win-win situation for the company. Look back to a problem that you were faced with. Define the problem, the expected outcome, and possible solutions. Then talk about the people you had to work with and what was expected of them and how you tied it all together to reach your goal. Don't feel bad if you were not the superstar in the real life problem, but for the purpose of answering this question to the interviewer, cast yourself in the spotlight and talk like you were the star. To get the list of behavioral questions this video mentions, you need to register for this free program here: http://jobinterviewtools.com/star/ Vist http://www.JobInterviewTools.com and snag the latest copy of the Complete Interview Answer Guide. It will show you how to answer any type of interview question so you can ACE your next interview.
Views: 273074 Don Georgevich
Writing the Literature Review (Part One): Step-by-Step Tutorial for Graduate Students
 
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Take the mystery out of this academic assignment. All you do is: (1) Gather the summaries of your sources. (2) Put the summaries in groups based on theme. (4) Write a paragraph on each group of sources with transitions between each source. 4. Add introduction and conclusion paragraphs. You're done! For examples of previously written literature reviews, see: http://libguides.uwf.edu/c.php?g=215199&p=1420828
Views: 1149923 David Taylor
Learn Toyota's 8 Step Practical Problem Solving Methodology
 
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http://gembaacademy.com | The Gemba Academy Practical Problem Solving course explains the exact 8 step problem solving process used by these lean exemplars around the world. In this course you’ll learn why PDCA is much more than 4 simple steps while also learning how to create and use statistical tools like control charts, Pareto charts, and scatter plots.
Views: 88447 Gemba Academy
What is VALUE ENGINEERING? What does VALUE ENGINEERING mean? VALUE ENGINEERING meaning & explanation
 
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✪✪✪✪✪ GET FREE BITCOINS just for surfing the web as you usually do - https://bittubeapp.com/?ref?2JWO9YEAJ ✪✪✪✪✪ ✪✪✪✪✪ The Audiopedia Android application, INSTALL NOW - https://play.google.com/store/apps/details?id=com.wTheAudiopedia_8069473 ✪✪✪✪✪ What is VALUE ENGINEERING? What does VALUE ENGINEERING mean? VALUE ENGINEERING meaning - VALUE ENGINEERING definition - VALUE ENGINEERING explanation, Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license. Value engineering (VE) is a systematic method to improve the "value" of goods or products and services by using an examination of function. Value, as defined, is the ratio of function to cost. Value can therefore be increased by either improving the function or reducing the cost. It is a primary tenet of value engineering that basic functions be preserved and not be reduced as a consequence of pursuing value improvements. The reasoning behind value engineering is as follows: if marketers expect a product to become practically or stylistically obsolete within a specific length of time, they can design it to only last for that specific lifetime. The products could be built with higher-grade components, but with value engineering they are not because this would impose an unnecessary cost on the manufacturer, and to a limited extent also an increased cost on the purchaser. Value engineering will reduce these costs. A company will typically use the least expensive components that satisfy the product's lifetime projections. Due to the very short life spans, however, which is often a result of this "value engineering technique", planned obsolescence has become associated with product deterioration and inferior quality. Vance Packard once claimed this practice gave engineering as a whole a bad name, as it directed creative engineering energies toward short-term market ends. Philosophers such as Herbert Marcuse and Jacque Fresco have also criticized the economic and societal implications of this model. Value engineering began at General Electric Co. during World War II. Because of the war, there were shortages of skilled labour, raw materials, and component parts. Lawrence Miles, Jerry Leftow, and Harry Erlicher at G.E. looked for acceptable substitutes. They noticed that these substitutions often reduced costs, improved the product, or both. What started out as an accident of necessity was turned into a systematic process. They called their technique "value analysis". Value engineering is sometimes taught within the project management or industrial engineering body of knowledge as a technique in which the value of a system’s outputs is optimized by crafting a mix of performance (function) and costs. In most cases this practice identifies and removes unnecessary expenditures, thereby increasing the value for the manufacturer and/or their customers. VE follows a structured thought process that is based exclusively on "function", i.e. what something "does" not what it is. For example a screw driver that is being used to stir a can of paint has a "function" of mixing the contents of a paint can and not the original connotation of securing a screw into a screw-hole. In value engineering "functions" are always described in a two word abridgment consisting of an active verb and measurable noun (what is being done - the verb - and what it is being done to - the noun) and to do so in the most non-prescriptive way possible. In the screw driver and can of paint example, the most basic function would be "blend liquid" which is less prescriptive than "stir paint" which can be seen to limit the action (by stirring) and to limit the application (only considers paint). This is the basis of what value engineering refers to as "function analysis". Value engineering uses rational logic (a unique "how" - "why" questioning technique) and the analysis of function to identify relationships that increase value. It is considered a quantitative method similar to the scientific method, which focuses on hypothesis-conclusion approaches to test relationships, and operations research, which uses model building to identify predictive relationships.
Views: 27847 The Audiopedia