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

Theory of Flow by Mihaly Csikszentmihalyi

“The best moments usually occur when a person’s body or mind is stretched to its limits in a voluntary effort to accomplish something difficult and worthwhile. Optimal experience is thus something we make happen.” -Csikszentmihalyi, 1990. The theory of flow  (also referred to as positive psychology) was developed by Hungarian psychologist Mihaly Csikszentmihalyi, as described in his 1990 book, Flow: The Psychology of Optimal Experience. Csikszentmihalyi defines flow as “the state in which people are so involved in an activity that nothing else seems to matter; the experience itself is so enjoyable that people will do it even at great cost, for the sheer sake of doing it.” In this state of being, people are motivated by inherent enjoyment of the challenges provided by the activity, and are subsequently more productive and happier. He identifies a number of different elements involved in achieving flow: There are clear goals every step Continue reading

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Benefits of Integrated Marketing Communication

Integrated Marketing Communication is defined as the coordination and integration of all marketing communication tool, avenues and sources within a company into seamless program that maximize the impact on customer and other end users at a minimal cost. This integration affects all firm business-to-business, marketing channel, customer-focused, and internally directed communications. It is a management concept that is designed so that all the marketing communication which consists of advertising, sales promotion, public relation, and direct marketing work together as a unified force rather than each of those marketing communication work in isolation. Besides, it acts as an aggressive marketing plan because it sets and tracks marketing strategy that captures and uses extensive amount of customer information. It also ensures that all forms of communications and messages are carefully linked together to achieve specific objective. Benefits of Integrated Marketing Communication Integrated Marketing Communication ensures that all forms of communications tools and Continue reading

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Overview of SEFT, NEFT and Cheque Truncation System

Special Electronic Funds Transfer (SEFT) Since the EFT system could enable funds transfer only from and to branches participating in the EFT process and falling within the clearing jurisdiction at the centres where clearing operations were managed by RBI, many centres were left out of the purview of such transfers. In order to widen the reach of EFT, in 2003, the SEFT scheme was introduced wherein the participating bank branches had to necessarily be computerised and networked so as to enable funds transfer within the stipulated time zone. The processing of transactions is centralised at National Clearing Cell, Mumbai and inter-bank funds settlement also takes place at Deposit Accounts Department, Mumbai office. The networked branches participating this Scheme, will submit the EFT files of their branch to the service branch (through their internal network), and the service branch will forward the files to NCC Mumbai. Thereafter, NCC Mumbai will process, Continue reading

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Level of Involvement in Consumer Behavior

Consumer involvement is considered as an important variable that can  help explain how consumers process the information and how this information  might influence their purchase or consumption related behavior. However,  there is wide agreement that the degree of involvement has a very significant  effect on consumer behavior. Herbert Krugman, a researcher is credited with his contribution to the concept of consumer involvement. According to him, consumers approach the marketplace and the corresponding product/service offerings with varying levels and intensity of interest and personal importance. This is referred to as consumer involvement. Involvement variables are believed to precede involvement and  influence its nature and extent. These variables are believed to be the  sources that interact with each other to precipitate the level of consumers  involvement at any particular time and situation.  The extent of risk perception the consumer has with purchase decision  can also influence the level of involvement. The perceived Continue reading

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Parties to Various Types of Negotiable Instruments

Parties to various types of Negotiable Instruments: Drawer” or Drawee: The maker of a bill of exchange or cheque is called the “drawer”; the person thereby directed to pay is called the “drawee”. Drawee in case of need: When in the bill or in any endorsement thereon the name of any person is given in addition to the drawee to be resorted to in case of need such person is called a “drawee in case of need”. Acceptor: After the drawee of a bill has signed his assent upon the bill, or, if there are more parts thereof than one, upon one of such parts, and delivered the same, or given notice of such signing to the holder or to some person on this behalf, he is called the “acceptor”. Acceptor for honor: When a bill of exchange has been noted or protested for non-acceptance or for better security, and Continue reading

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Strains and Challenges Faced by Indian Banking Sector

Liberalization process has increasingly exposed Indian Industry to international competition and banking being a service industry is also not an exception. Banking Sector in India too faces same strains and challenges at local, national and international level. Indian Banks, functionally diverse and geographically widespread, have played a crucial role in the socio-economic progress of the country after independence. However, the growth led to strains in the operational efficiency of banks and the accumulation of non-performing assets (NPA’s) in their loan portfolios. Banks face increasing pressure to stand out from the crowd. On the Internet, this means offering your target customers an increasingly broader range of services than your competitors and that too in unique way. All this has resulted in a challenge to managers of banks to develop the right mix of acquired and internally grown IT applications which suits customer’s expectations. Banking sector reforms and liberalization process raised many Continue reading

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