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

Effect of Relationship Marketing on Customer Retention

There is a relationship between two or more parties who are in contact with each other, comprise supplier (seller) and customer. Relationship marketing begins to provide framework for such marketing situations as describe by the two experiences. But its applicability has also invaded consumer goods and services. Relationship marketing became a common approach of marketing. Nowadays, there are the four waves of marketing comprise Mass marketing, Targeted marketing, Global marketing and finally Relationship marketing. Those waves play an important role by itself. Three of four waves share one thing in common. Its goal is maximizing sale in Mass marketing, Global marketing or Target marketing. After all they try to increase sale and endure profitable growth simultaneously and marketers are beginning to appreciate that they need more creation and reinforcement of building customer relationships. The relationship marketing is influenced by some areas of marketing comprises traditional marketing, sale management and marketing Continue reading

Abey Francis

Professionalization of Management

There has been a growing trend towards professionalization of management. Professionalization imparts a certain social responsibility and dignity to management. A professional cannot be controlled or directed by the client. He has professional knowledge and judgment which he uses to make his decision. Thus, professionalization makes business more efficient, dynamic and socially responsible. The growth of management education  has contributed to professionalization in the business field. The company form of business organization which has split ownership from management and the gaining popularity of the company form of business organization have increased the need for professional managers. Is Management a Profession? To answer this question, first of all we should understand what a profession is. Many authorities on the subject have attempted to define a profession. According to Abraham Flexner, A profession is; A body of specialized knowledge and recognized educational process of acquiring it. A standard of qualifications governing admission Continue reading

Abey Francis

Case Study: Success Story of Exxon Mobil

Exxon Mobil Corporation (Exxon Mobil) is an integrated oil and gas company based in the US. It is engaged in exploration and production, refining, and marketing of oil and natural gas. The company is also engaged in the production of chemicals, commodity petrochemicals, and electricity generation. The company operates across the globe. It is headquartered in Irving, Texas and employs about 80,000 people. Exxon Mobil operates through three segments: upstream, downstream, and chemicals. The upstream segment explores for and produces crude oil and natural gas. The company’s upstream business has operations in 36 countries and includes five global companies. These companies are responsible for the corporation’s exploration, development, production, gas and power marketing, and upstream-research activities. The company’s upstream portfolio includes operations in the US, Canada, South America, Europe, the Asia-Pacific, Australia, the Middle East, Russia, the Caspian, and Africa. The company’s downstream activities include refining, supply, and fuels marketing. Continue reading

Abey Francis

Why Shareholder Wealth Maximization is Important in Business?

In modern finance, it is proven that shareholder wealth maximization is the superior goal of a firm and shareholders are the residual claimants; therefore maximizing shareholder returns usually implies that firms must also satisfy stakeholders such as customers, employees, suppliers, local communities, and the environment first. Also, a firm’s value can not be maximized if the management board or shareholders ignores the interest of its stakeholders. Thus, the main goal of a firm is to maximize shareholder wealth but it does not mean that management should disregard stakeholders. To begin with, it is necessary to understand what is shareholder wealth and why maximizing shareholder wealth is a superior objective? Maximizing shareholder wealth is defined as maximizing purchasing power as well as the flow of dividends to shareholders through time and it is a long-term perspective. In addition, a very important point to explain why shareholder wealth maximization is superior objective Continue reading

Abey Francis

Doctrine of Ultra Vires

‘Ultra’ means beyond and ‘vires’ means powers. The term ultra vires a company means that the  doing of the act is beyond the legal power and authority of the company. The doctrine of ultra vires is  important in defining the limits of the powers conferred on the company by its Memorandum of  Association. According to this doctrine, the vires (power) of a company to enter into a contract or  transaction is limited by the ambit of the Objects Clause of the Memorandum and the provisions of the  Companies Act. Whatever is not permitted by the Objects Clause and the Act, is prohibited by the  doctrine of ultra vires. If a company engages in any activity or enters into any contract which is ultra  vires (outside the power conferred by) the Memorandum or Act, it will be null and void so far as the  company is concerned and it cannot be Continue reading

Abey Francis

Disadvantages of Value Added Tax (VAT)

1) VAT is regressive: It is claimed that the tax is regressive, i.e its burden falls disproportionately on the poor since the poor are likely to spend more of their income than the relatively rich person. There is merit in this argument, particularly if it attempts to replace direct or indirect taxes with steep, progressive rates. However, observation from around the world and even Guyana has shown that steep tax rates lead to evasion, and in the case of income tax act as a disincentive to effort. Further, there is now a tendency in most countries to reduce this progressivity of taxes as has been done in Guyana where a flat rate of income tax has been introduced. In any case VAT recognises and makes room for progressivity by applying no or low rates of tax on essential items such as food, clothes and medicine. In addition it allows for Continue reading

Abey Francis