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

Elements of a System

The word System is derived from Greek word Systema, which means an organized relationship between any set of components to achieve some common cause or objective. A system is an orderly grouping of interdependent components linked together according to a plan to achieve a specific goal. Systems are often complex, with many parts working together to achieve the common goal. In order to understand how a system works, it is often necessary to study its individual components and how they interact. Elements of a System The important elements of a system are; Output and Inputs Processor(s) Control Feedback Environment Boundaries and Interface 1. Outputs and Inputs A major objective of a system is to produce an output that has value to its user. Whatever the nature of the output, it must be within the line with the explanations of the intended user. Inputs are the elements that enter the system Continue reading

Abey Francis

How to Protect Your Personal Info from Being Sold on Dark Web?

Personal information has become one of the most valuable online commodities in today’s digital age. As shown by ExpressVPN, cybercriminals constantly seek ways to access personal data and sell it on the dark web to the highest bidder. The consequences of having your personal information sold on the dark web can be devastating, including identity theft, financial loss, and reputational damage. Why Does Your Information Need Protection from Dark Web? The dark web is a hidden portion of the internet that requires specialized software, such as Tor, to access. It is known for being a hub of illegal activities, including the sale of stolen personal information. Protecting oneself from the dark web’s threats is crucial in today’s digital age. First and foremost, securing personal information by using strong passwords and enabling two-factor authentication is essential. Additionally, sensitive information should never be shared via email or unsecured messaging platforms. It is Continue reading

Abey Francis

Demand and Supply for Foreign Exchange

The foreign exchange rate is determined in the free foreign exchange  markets by the forces of ‘demand and supply for foreign exchange’. To make  the demand and supply functions to foreign exchange, like the conventional  market demand and supply functions, we define the rate of exchange as the price  of one unit of the foreign currency expressed in terms of the units of the home  currency. The Demand for Foreign Exchange Generally, the demand for foreign currency arises from the traders who  have to make payments for imported goods. If a person wants to invest his  capital in foreign countries, he requires the currency of that country. The  functional relationship between the quantity of foreign exchange demanded and  the rate of foreign exchange is expressed in the demand schedule for foreign  exchange (which shows the different rates of foreign exchange). It is  understood from the demand schedule that the relationship, Continue reading

Abey Francis

International Transaction Settlements

Foreign exchange market plays the part of a clearing house, while, similarly, banks (authorized dealers in foreign exchange) act as clearing agents for international debts. The authorized dealers buy rights to wealth from those who have them to dispose of and sell rights to wealth who wish to acquire them. In practice, it is very much usual that when the exporter parts with his goods, either he wants money immediately or wants to be sure that it will be paid at the pre-determined date without any contestation. The importer, on the other hand, does not want to pay the goods until arrival of the carrying vessel. This two-faced problem in all cases is solved where both parties are favorable known to their own bankers. Depending upon the terms of agreement, the exporter can draw on his counterpart, the importer, or on the importer’s banks (or even on any third party) Continue reading

Abey Francis

Relationship Between Agency Theory and the Existing Accountancy Practices

The agency theory is a mixture of the relationships between principals and agents, it occurs when the principal and the agents create a delegation. The agency theory argues that in modern corporations, where share ownership is widely held, managerial actions depart from those required to maximize the shareholder’s return. In Agency theory terms, the owners are principals and the managers are agents and there is an Agency loss which is the extent to which returns to the residual claimants, the owners, fall below what they would be if the principals, and the owners, exercised direct control of the corporation. The long-term strategies for agency theory include the principle of the company, business, franchise, etc. providing incentives such as increasing commission, continuing to provide advertising, training, and motivation to increase outlet operations. Regarding the exogenous factor, outlet managers have an incentive to shirk and misrepresent their abilities because the firm is Continue reading

Abey Francis

Order-to-Cash Process – Meaning and Steps

Order-to-cash process consists of financial transactions with the customers in a supply chain. Order-to-cash process starts with the customer placing the order and ends with receiving the payment from the customer. The steps involved in the order-to-cash process are explained below. The order is placed by the customer directly through phone, fax, or the internet. Then, the inventory is checked for the availability of the product in the quantity required by the customer. The firm then checks the customer credit status to decide whether or not to extend credit to the customer. For this, the customer’s credit limit and the status of receivables from the customer are checked. If the customer has placed the order within the credit limits and has nil or permissible receivables, then the product can be delivered to the customer. If not, the firm has to evaluate whether to fulfill the order or to reject it Continue reading

Abey Francis