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

Bills for Collection

Under Bills for Collection method of international trade payments, since a bank acts as an intermediary, the seller does not have to depend on the buyer only. But here the bank’s role is only in the process of routing the documents of transport/title along with other documents. The seller draws documents in terms of the contract that it has entered into with the buyer, hands over those documents to the bank with clear instructions as to the mode of collection- whether goods are to be delivered against payment or against acceptance of documents and a bill of exchange on the basis of which he can get payment after due date of exchange and if for instance that bill is not paid for some reason the seller can fall back on the Bill of Exchange law and can take action under that law to get payment. While the buyer does not Continue reading

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Planning Reductions in Merchandise Budgeting

This is a very significant stage in developing the merchandise budget namely planning of reductions. “Retail reductions” are the difference between the merchandise item’s original retail value and its actual final sales value. This difference is the result of three major factors namely, mark-downs, discounts and shortages. “Mark downs” are the reductions in the original retail price for the purpose of stimulating the sale of merchandise. The amount of markdown can vary considerably depending on the type of merchandise and the condition under which it is sold. “Discounts” are reduction in the original retail price that are granted to store employees as special fringe benefits and to special customers in recognition of their special status say senior citizens, disadvantaged customers and religious personalities like clergy, priests, and so on. “Shortages” are the reductions in the total value of the retailer’s inventory as a result of shoplifting, pilferage and merchandise being Continue reading

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E-mail & it’s business importance

Introduction Electronic mail, often abbreviated to e-mail, is a store and forward method of writing, sending, receiving and saving messages over electronic communication systems. The term e-mail applies to the internet e-mail system. E-mail is often used to deliver bulk unsolicited messages or “spam”, but filter programs exist which can automatically block, quarantine or delete some or most of these, depending on the situation. The spellings e-mail and email are both common. Several prominent journalistic and technical style guides recommend e-mail, and the spelling email is also recognized in many dictionaries. Why do you need email etiquette? A company needs to implement etiquette rules for the following three reasons: Professionalism: by using proper email language your company will convey a professional image. Efficiency: emails that get to the point are much more effective than poorly worded emails. Protection from liability: employee awareness of email risks will protect your company from Continue reading

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Steps Involved in Investment Planning

Investors like to invest through the instinct and want to gain profit from the market by investing. However, while financial institutions are undoubtedly a part of the process of investing. As investors, it is not surprising that we focus so much of our energy and efforts on investment philosophies and strategies, and so little on the investment process. It is far more interesting to read about how Peter Lynch picks stocks and what makes Warren Buffett a valuable investor, than it is to talk about the steps involved in creating a portfolio or in executing trades. Though it does not get sufficient attention, understanding the investment process is critical for every investor for several reasons: Investment planning centrally depends upon the portfolio of the investor; as a result the primary step of the investment process is to make a portfolio. By emphasizing the sequence, it provides for an orderly way Continue reading

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Culture as a Normative Control Tool in Organizations

Proponents of corporate culture as an informal control mechanism regard culture as a management tool that can be manipulated though the actions of top management. Culture is a management tool; however, there is a counter-view that corporate culture is a rather complex construct. People argue that culture should be regarded as something that an organization ‘is’, not as something that an organization ‘has’; it is not an independent variable, nor can it be created, discovered, or destroyed by the whims of management. Despite the academic debate surrounding corporate culture as a construct, for practicing managers, caught up with the need to control and recognizing the flaws in the more formal and bureaucratic mechanisms, the lure of cultural control as a management tool is highly seductive. Significance of Cultural and Normative Forms of Control From the last few years, organisations have become interested in organisational control and employees’ self-hood. This control Continue reading

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Advantages and Limitations of the Balanced Scorecard (BSC)

Before Balanced Scorecard (BSC) emerged, organizations usually use traditional methods of performance evaluation focused mainly on financial measures such as ROCE, sales and profits. Balanced Scorecard translates an organization’s mission and strategy into a comprehensive set of performance measures that provides the framework for a strategic measurement and management system. The scorecard measures organizational performance across four linked perspectives: financial, customer, internal business process, and learning and growth. In recent years, a number of multi-national organizations have introduced BSC as part of their management control systems. Advantages of the Balanced Scorecard Balanced Scorecard has been widely used in many  organizations in the past 15 years. It obviously has some benefits to these organizations. Here are some of the advantages of Balanced Scorecard  and they are also reasons that make so many organizations adopt BSC. Firstly, each perspective of Balanced Scorecard  requires the identification of a number of goals, and suitable Continue reading

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