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

Classification of Industrial Products

Industries are related to the raising, producing, processing or manufacturing of  products.  The industrial products can be classified into following: Major  Equipment’s   This category includes large machines or other tools whose net purchase price are so great that expenditures for them are changed to capital account and not the current account. Major equipment is of two types: Multipurpose or standard machines which can be used by a no. of different industries or by many firms in the same industry. Single purpose machines are designed to perform one particular operation and no other. Since the net price of major equipment is sometimes very high, its purchase may involve financial problem for the buyer. Firms marketing such equipment must be prepared to loan for the buyers, to help them float issues of securities, to negotiate with investment concerns, or to lease equipment. Minor or Accessory Equipment’s: It is machinery used in Continue reading

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Purpose of Keeping Financial Records

Financial recording is a process and procedure that is used by an organisation to control finance and accountability. This process and procedure include recording, verification and timely reporting of transactions that affect revenues, expenditures, assets, and liabilities. To develop business and making profit accountants have to keep financial records or information. There are some techniques for recording financial information that are given below: Double entry book keeping: It is an account technique which records each transaction as a credit and a debit. Day books and ledgers: A book with an account of sales and purchases made each day is called day books. For example: sales day books, sale return day books etc. On the other hand ledger is an accounting book of final entry where transactions are listed in different accounts. For instance: sales ledger, purchase ledger and general ledger etc. The trial balance: It is totaling of debit balance Continue reading

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14 Tips on How to Build Effective Teams

When building a team, you need to make sure individuals are aware of their job role and responsibilities and if so, who’s taking leadership and who’s accountable for each task. There needs to be clear lines of responsibility and authority. Individuals must be aware of what task needs to be achieved, when and how they are going to accomplish this. Team members should have the required skills to be able to carry out tasks and duties effectively. To build a team you need to gain each individual trust and loyalty, making them feel part of the team so that individuals do not feel fearful of people in leadership roles. The leader should clarify the purpose and set clear goals where team members work towards common goals which are clearly communicated and agreed. There are many techniques to help build a team such as valuable ideas, which means when working in Continue reading

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Basic Principles of Total Quality Management (TQM)

Total Quality Management ensures maximum effectiveness and efficiency within a business and secures commercial leadership by putting in place process and systems which will promote excellence and prevent errors. It ensures that every aspect of the business is aligned to the customer needs and the advancement of business goals without duplication or waste of efforts. Different companies have different approaches to implement Total Quality Management (TQM). The following principles (which are common to all companies) must be adhered for the successful  Total Quality Management (TQM) implementation: Continuous improvement. TQM is a long-term process that entails achieving improvements in the company’s operations. This means that management should establish targets for improvement and measure progress by using reliable criteria. The quest for quality and better service to the customer should be a continual, never-ending one. Competitors will seek to provide better service and customers will come to expect it. Hence, to cease Continue reading

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Risks Associated With Investments

In the context of an investment, a situation of certainty is one in which the return from the investment is known for sure. Let us say, an individual invests in government securities and holds them to maturity. The individual can be sure about the redemption of the amount invested on maturity and payment of interest. Therefore, his/her rate of return is known for sure. The term risk, in the context of investments, refers to the variability of the expected returns. It is an attempt to quantify the probability of the actual return being different from the expected return. Though there is a subtle distinction between uncertainty and risk, it is common to find the use of both the terms interchangeably. Types of  Risks associated with Investments The variability of the return or the risk can be segregated into many components, based on the factors that give rise to it. Broadly, Continue reading

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Introduction to File Organization

As in our daily life, huge amount of data has to be collected and processed, so it is very difficult to handle it. But this can be handled fast and easily by using files. Files are the mega byte data structure used in information processing. Actually, a file itself is a bunch of bytes stored on some storage devices like magnetic disk, magnetic drum and magnetic tape etc. A file is a collection of records. Each record is made up of fields. The various fields consists of groups of characters, say the decimal digits 0 through 9 and alphabet A through Z. Group of fields are combined to form a logical record. This logical record contains all the data of interest about some entity. Different application requires a variety of record types and file structure; one basic distinction is between fixed and variable length records. A fixed length record has Continue reading

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