Case Study on Entrepreneurship: Larry Page

Business Analysis

The Boundaryless Career: Modern Contemperory Perspective on Career

Human Resource Management

Concepts of Throughput Accounting and Theory of Constraints

Financial Management

Kaizen – Understanding the Japanese Business Philosophy of Continuous Improvement

Operations Management

Role of Leaders in Shaping Organizational Culture

Management Principles

Definition of Budgetary Control

Budgetary control is the  process of  determining  various  budgeted figures  for  the enterprise for the future period and then comparing the budgeted figures with the actual  performance  for calculating  variances, if  any.  It is a continuous process, which helps in planning and coordination. It  provides a method of control too. The Institute of Cost and Management Accountants, England defines budgetary control as “the establishment of budgets relating to the responsibilities of executives to the requirements of a policy, and the continuous comparison of actual with budgeted results, either to secure by individual action the objective of that policy or to provide a basis for its revision”. According to J.A.Scott, “it is the system of management control and accounting in which all operations are forecast and so far as possible planned ahead and the actual results compared with the forecast and planned ones”. Thus, budgetary control involves the following: Establishment of Continue reading

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Leader’s Role in Being a Catalyst for Organization Change

It takes considerable amount of effort and time to set up an organization and get into particular mode of operation. In order to sustain and continuously climb up the ladder of growth, companies need to be lean, flexible and ready to change constantly to implement new processes, introduce or close down particular product lines, incorporate faster technologies, make strategic shifts and decisions thus stimulating creativity, learning, diversity and growth. While the change is inevitable and its need being clearly understood, resistance and adverse affects are also likely to emerge. The important factor in execution of a successful change is that it should be properly planned/ focused along with a high degree of commitment Leadership. A Leader for any organization can be identified as a Spark plug who, because of high energy, good communication and motivational skills, and a can-do attitude, helps realizing important objectives. The leader is the catalyst that Continue reading

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Employee Responses to Job Dissatisfaction

Employee can express job dissatisfaction in a number of ways. For example, rather than quit, employees can complain, be insubordinate, steal organizational property, or shirk a part of their work responsibilities. Following figure offers four responses to  job dissatisfaction that differ from one another along two dimensions: constructive/destructive and active/passive. They are defined as follows: Exit: Behavior directed toward leaving the organization, including looking for a new position as well as resigning. Voice: Actively and constructively attempting to improve conditions, including suggesting improvements, discussing problems with superiors, and some forms of union activity. Loyalty: Passively but optimistically waiting for conditions to improve, including speaking up for the organization in the face of external criticism and trusting the organization and its management to “do the right thing”. Neglect: Passively allowing conditions to worsen, including chronic absenteeism or lateness, reduced effort, and increased error rate. Exit and neglect behaviors encompass our performance Continue reading

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Introduction to Emotional Intelligence – Definition and Nature

Classic Intelligence and rational thinking have dominated Western Society for centuries. It was Freud who showed, through his analysis of the unconscious, that there is more to us than rational thinking. Since Freud, the development of psychology has brought the insight that a person’s actions are not just rational or logical,  Emotional Intelligence seems a good name to name our “non-rational” way of thinking and being. “In the last decade or so, science has discovered a tremendous amount about the role emotions play in our lives. Researchers have found that even more than IQ, your emotional awareness and abilities to handle feelings will determine your success and happiness in all walks of life, including family relationships.” (John Gottman, Ph.D) What is Emotional Intelligence? Quite simply, emotional intelligence is the intelligent use of emotions: You intentionally make your emotions work for you by using them to help guide your behavior and Continue reading

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The Significance of Corporate Governance

Corporate Governance can be defined as the organizational structure of a company. It encompasses the overall processes, operations and policies by which a company is controlled and functions. According to James McRitchie corporate governance is most often viewed as both the structure and the relationships which determine corporate direction and performance. Within the governing body of a corporation there are various stakeholders. Stakeholders are individuals which are of great importance to the company because they contribute directly or indirectly to its economic activity. Stakeholders retain different degrees of importance within an organization depending on their title or function which are some of the following: shareholders, the board of directors, employees, customers, creditors and suppliers. All together this group of individuals defines a corporate community in which day to day business is conducted and must be sustained in order for the company to survive. Similar to any other community, where there Continue reading

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Theories of Motivation: Alderfer’s Existence-Relatedness-Growth (ERG) Model

Serious doubts have been expressed about the existence of the five distinct need categories, which Maslow hypothesized. There seems to be some overlapping between esteem, social, and physiological needs. Also, the lines between esteem, social, and self-actualization needs are not entirely clear. With these points in mind, Clayton Alderfer condensed Maslow’s five need categories into three sets: The existence Needs:  Over here material existence requirements are mentioned. This group is the same as what has been called by Maslow physiological and safety needs. In an organizational context the existence needs are satisfied by money earned in a job and spending them to obtain foods, clothing, shelter etc. Relatedness Needs:  An employee desire to maintain important interpersonal relationships with pears, superiors and subordinates in work context can be termed as relatedness needs. Relatedness for an employee in an organization context includes the need to interact with peers, receive recognition from the Continue reading

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