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

Concept of Vendor Management

Vendor Management is the management and control, by an entity, of those third parties that supply goods and/ or services to that entity. It is the discipline of establishing service, quality, cost, and satisfaction goals and selecting and managing third party companies to consistently meet these goals:- Establishing Goals– Just as employees need clearly established goals, operations need clearly defined performance parameters.   When selecting or managing vendors, vendor managers must optimize their opportunity to achieve these goals by using third parties companies. Selecting Vendors– The fine art of vendor management is essential to optimizing operational results.   Different vendors have different strengths and weaknesses, and it is the vendor manager’s responsibility to match the right company with the desired performance characteristics.   Failure to consider this comprehensively could lead to complete failure. Managing Vendors– On a daily basis, vendor managers must monitor performance, provide feedback, champion new projects,  define Continue reading

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Cournot’s Duopoly Model – Explanation with Example

In economics, organizations that operate in oligopolies markets compete by trying to steal market shares from one another. Therefore, instead of competing by lowering prices, the kinked demand curve points to an understanding that the strategy does not work since every organization reduces costs. Companies utilizing this strategy often compete using a factor directly affecting profit and hence the quantity being sold. The Cournot’s model finds application when organizations produce standardized or identical products and, thus, do not collude. Duopolies, on the other hand, operate by the understanding that companies compete by the produced quantity. The assumption by the Cournot’s duopoly model is that two organizations move simultaneously, having similar market demand perspectives and having good knowledge of the cost functions of each rival. With this, firms choose how to maximize profit through their output based on the belief that rival organizations make similar choices. For the U.S., the decision Continue reading

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Mercantilism Theory of International Trade

The mercantilists proposed Mercantilism theory of international trade. They were a group of economists who preceded Adam Smith. The foundations of economic thought between 1500 and 1800 were based on mercantilism. Mercantilists believed that the world had a finite store of wealth; therefore, when one country got more, other countries had less. Mercantilists restricted imports and encouraged or subsidized exports as a conscious policy to make their citizens better off. Mercantilists judged the success of trade by the size of the trade balance. Mercantilism was a sixteenth-century economic philosophy that maintained that a country’s wealth was measured by its holdings of gold and silver. This required that the countries to maximize exports and minimize imports. The logic was transparent to sixteenth-century policy makers that if foreigners bought more goods from us than we bought from them, then the foreigners had to pay us the difference in gold and silver, enabling Continue reading

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Case Study on Business Ethics: McKinsey Opioid Scandal

McKinsey and Company, a leading consulting agency, has agreed to pay US$573 as a settlement for advising Purdue Pharma, a drug company, on how to “supercharge” opioid sales. The agreement to pay the settlement was reached after the management of the consultation firm agreed with attorney generals of 47 states, Massachusetts court records revealed. This action disrespects human rights, especially for the patients of the drug produced by Purdue Pharma. The decision to settle was made in February 2021 when the Company’s unethical advice to the pharmaceutical organization was disclosed. For about a decade, McKinsey advised Purdue on ways to brand and market opioids and influence doctors into prescribing high doses of opioids. The consulting firm also ensured that Purdue maximized its profits by offering guidance on evading pharmaceutical prescriptions. In addition, McKinsey was also known to be involved with other opioid-related works, including consulting advice to Johnson & Johnson, Continue reading

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Deficit Spending- Meaning, Advantages and Disadvantages

Deficit spending is the amount the government consumes that overtakes revenue over a particular budget year. Globally, it is a system used by most governments for economic stability. Deficit spending can be of either positive or negative impacts depending on the country’s aim in applying it. If well-strategized, it can be of immense aid to rescue the economic growth; it benefits every person in that specific government by opening room for investors. Deficit spending takes place when the government consumes more than the revenues. The government uses deficit spending for economic growth by opening opportunities for private sectors. For example, the private sector can offer loans to people so that they can start their businesses. In deficit spending, the consumption rate is higher than the profit that the government acquires. Therefore, the government spends more than what is available in addition to having more needs. Deficit spending multiplies huge debts Continue reading

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Case Study: “Dove Chooses Beautiful” Advertising Campaign

In 2015, Dove launched its new Dove Choose Beautiful advertising campaign, writing a new chapter to one of the most successful marketing campaigns ever, the Real Beauty campaign that started in 2004. The campaign was groundbreaking: its purpose went beyond promoting its commercial products but aimed at drawing people’s attention to some topical themes. Dove Choose Beautiful, follows the path outlined by the original campaign, questioning the unachievable female beauty canons promoted by the media and encouraging self-esteem and genuine Beauty instead. Since 2004, the renowned New York-based advertising firm Ogilvy & Mather has been developing a successful mix of print ads, billboards, and videos which raised public attention, generated debates and, ultimately, increased sales. Understanding the 2004 Real Beauty campaign, its premises, social background, and grounding philosophy is an obligatory path to discuss the Dove Chooses Beautiful marketing strategy. Case Background Dove is a beauty care brand owned by Unilever, a British-Dutch Fast-Moving Consumer Goods (FMCG) multinational company. Continue reading

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