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

Total Quality Management (TQM) Approach

Quality is a continuous process that can be broken anywhere in the system of supply and customer service. By letting every person know how their activities help fulfill customer’s requirements, the organization can motivate their employees and supplies to provide quality consistently. They must also realize that throughout the organization they will have both internal customers and’ supplies to those outside the organization. In general, a process helps to change a set of inputs into desired output in the form of products or services. Proper investigation of the inputs and outputs of the organization help to determine the action to be taken for the improvement of the quality. The quest for continuous improvement of quality is a continuous cycle. The process on which continuous improvement is based is generally known as “Deming Wheel“. The wheel represented below shows a continuous movement in a certain direction. The idea behind this that Continue reading

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Different Types of Reports Used in Business

After thorough study, collection of all relevant facts and information and proper scrutiny and analysis of a problem relating to past or present, submission of the conclusions supported by statements and other relevant data etc. is called a report, which offers suggestions for solution of the problem studied. A report is a formal communication written for a specific purpose; it includes a description of procedures followed for collection and analysis of data, their significance, the conclusions drawn from them, and recommendations, if required.  The information present in the report is needed to evaluate progress and plan future action. Reports provide feed back to an organization to guide future course of action. According to C.A.Brown, “A report is a communication form of some one who has some information to some one who needs that information.“ The goal of making reports is to make the information as clear and convenient and accessible Continue reading

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Impact of Service-Dominant Logic on Strategic Marketing and Relationship Marketing

The Stephen Vargo and Robert Lusch paper “Evolving to a New Dominant Logic for Marketing” (2004, Journal of Marketing) redefines and redirects the age-old economic view of goods and services. Their paper states, “Over the past several decades, marketing has been evolving toward a new dominant logic… The evolving logic represents a shift away from the exchange of tangible output (goods) toward the exchange of services, which are defined as the application of specialized competences (knowledge and skills), through deeds, processes, and performances for the benefit of another entity or the entity itself.” This philosophy of marketing argues that firms are not really providing goods, but are actually rendering a service to consumers through their goods. This new service-dominant logic view of marketing has already made a huge impact on both the strategic marketing and relationship marketing of firms and will continue to further impact future marketing strategy. For nearly Continue reading

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Definition and Concept of Industrial Relations

An Introduction to Industrial Relations Industrial relations constitute one of the most delicate and complex problems of the modern industrial society. This phenomenon of a new complex industrial set-up is directly attributable to the emergence of ‘Industrial Revolution”. The pre-industrial revolution period was characterized by a simple process of manufacture, small scale investment, local markets and small number of persons employed. All this led to close proximity between the manager and the managed. Due to personal and direct relationship between the employer and the employee it was easier to secure cooperation of the latter. Any grievance or misunderstanding on the part of either party could be promptly removed.   Also, there was no interference by the State in the economic activities of the people. Under such a set-up industrial relations were simple, direct and personal. This situation underwent a marked change with the advent of industrial revolution — size of Continue reading

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Application of Direct Marketing Tools in Industrial Marketing

Direct Marketing  is a recent activity that has come up and is used extensively by the  industrial marketers. The various tools used in direct marketing are direct  mails, telemarketing and online marketing channels. A direct marketing  channel does not involve any intermediary and the sale is done by the  company by directly contacting the target customer. As the cost involved  in direct marketing activity is much less compared to the cost of company  sales force directly meeting the customers, many industrial organizations  prefer this tool. This tool aids the sales force to gain entry into  prospective customer’s office where prospective customers are identified  beforehand and are informed about the company products. Direct Mail The existing and prospective customers are mailed promotional letters, catalogs, CD’s etc. by the industrial marketers where they are provided with necessary information about the company’s products and services and any schemes or offers it has. This Continue reading

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Comparison and Features of Future and Forward Markets

A Comparison Between Future and Forward Markets As a common trend and general preference, it is most unlikely that the investors would ever involve in the forward market, it is important to understand some of the attitudes, particularly as a good deal of the literature on pricing futures contracts typically refers to those contracts interchangeably. Specially differences resulting from liquidity, credit risk, margin, taxes and commissions could cause futures and forward contracts not to be priced identically. For example, in dealing with price risk, futures contracts have several advantages of transaction in comparison to forward contracts. Sequential spot contracts, which is also known as spot contracts where the terms of the contract are re negotiated as events unfold, do not inject any certainty into the transaction. Such a method of contracting is particularly liable to the hazards of opportunism and may deter investment because of the relatively high probability that Continue reading

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