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

Planning Function of Management – Definition and Features

Planning is the process of deciding in advance what is to be done, who is to do it, how it is to be done and when it is to be done. It is the process of determining a course of action, so as to achieve the desired results. It helps to bridge the gap from where we are, to where we want to go. It makes it possible for things to occur which would not otherwise happen. Planning is a higher order mental process requiring the use of intellectual faculties, imagination, and foresight and sound judgment. Accounting to Koontz, O’Donnell and Weihrich, “planning is an intellectually demanding process; it requires the conscious determination of courses of action and the basing of decisions on purpose, knowledge and considered estimates. Planning is a process, which involves anticipation of future course of events and deciding the best course of action. It is a Continue reading

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How Do You Start a Business?

The journey of establishing your own business is a whirlwind of excitement, daunting decisions, and significant rewards. The path to business ownership requires careful planning, meticulous attention to detail, and a tremendous amount of grit. Whether it’s developing a stellar idea, securing financing, or overcoming challenges, we have comprehensive insights to guide you. Keep reading to learn the strategic steps to take when starting a business. Recognizing the Need for a Business Plan Every successful business begins with a proficient business plan. A business plan encapsulates your business goals, research on potential markets, and strategies for reaching your target audience. It serves as a blueprint for your business journey. Equally critical is determining your business financing. This step could involve a variety of options, including self-financing, attracting investors, or determining how to get a loan to start a business. Remember, a well-structured business plan can make the difference between a thriving Continue reading

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Major Perspectives of Information Organization

People understand information organization from four main perspectives, viz. data, relationship, operating system, and application architecture. The data perspective of information organization In the data perspective, people consider the organization of data in terms of their descriptive and graphical elements. Therefore, the two elements possess distinctive features necessitating different storage requirements as well as storage options. A person thus needs to understand the correct sequence in which entities occur and build up until they eventually form a data file. A data item that falls under descriptive data is one of the most basic elements in the organization of information. It is the smallest unit of storage in a database and it goes by the term ‘stored field’ in the database terminology. It may appear in the form of a number, date, an expression, or character string. A group of related data items forms a record and often appears in the Continue reading

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Firm That is Stuck in the Middle

The three Porters generic competitive strategies are alternative, viable approaches to dealing with the competitive forces. The converse of the previous discussion is that the firm failing to develop its strategy in at least one of the three directions – a firm that is stuck in the middle – is in an extremely poor strategic situation. According to Porter, a company’s failure to make a choice between cost leadership and differentiation essentially implies that the company is stuck in the middle. Porter argued that cost leadership and differentiation are such fundamentally contradictory strategies, requiring such different sets of resources, that any firm attempting to combine them would wind up “stuck in the middle” and fail to enjoy superior performance,  Cost leadership requires standardized products with few unique or distinctive features or services so that costs are kept to a minimum. On the other hand, differentiation usually depends on offering customers Continue reading

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Cheque: Definition, Features and its Types

Cheque is a very common form of negotiable instrument. If you have a savings bank account or current account in a bank, you can issue a cheque in your own name or in favor of others, thereby directing the bank to pay the specified amount to the person named in the cheque. Therefore, a cheque may be regarded as a bill of exchange; the only difference is that the bank is always the drawee in case of a cheque. The Negotiable Instruments Act, 1881 defines a cheque as a bill of exchange drawn on a specified banker and not expressed to be payable otherwise than on demand. From the above dentition it appears that a cheque is an instrument in writing, containing an unconditional order, signed by the maker, directing a specified banker to pay, on demand, a certain sum of money only to, to the order of, a certain Continue reading

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Difference Between Forwards and Futures Contract

For all practical purposes, when a forward contract is standardized and dealt in an organized exchange, it becomes a future contract. Basically, they both seem to be one and the same. However, they differ from each other in the following respects: Nature of the Contract: A forward contract is not at all a standardized one. It tailor   made contract in the sense that the terms of the contract like quantity, price, period, date, delivery conditions etc. can be negotiated between the parties according to their convenience. On the other hand, a futures contract is a highly standardized and they can not be altered to the requirements of the parties to the contract. Existence of Secondary Market: Since forward Contract is a customized contract, it is not a standard one. So, it cannot be traded on an organized exchange. With a result, there is no secondary market for a forward Continue reading

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