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

Cost Accounting: Installation of Costing System

The need and importance of the installation and the organisation of a good system of cost accounting are being increasingly realized presently all over the business versatility. The common experience of enthusiastic youths climbing the business – tree and falling mid-way without even collecting the leaves owes to the ignorance of he use installation and organisation of costing system, and to the infatuation that the profits could be earned without it. A good system is the key-point governing, the mechanism of an enterprise in the field of cost control, ascertainment of profitability, and managerial decision-making. Installation of a costing system is not an expense but an investment as the rewards are much greater than the expenses incurred. The cost system is for the business and not the business for a system of cost. Therefore, the system has to be so designed as to meet the specific needs of the enterprise. Continue reading

Abey Francis

Cost Planning Systems in Construction Management

Cost planning in construction is necessary since building a house is a very expensive thing to do and any mistakes can be very costly to the client. It is very important to know how to plan and to ensure that the building is suitable as far as the resources are concerned. All factors should be considered to ensure maximum value for your money. It is also important to note that a building should not cost more than what the client has budgeted for. There are different methods of cost planning during construction which the client should be able to use for purposes of ensuring the budget is not overrun. These methods involve approximate estimation of the client’s budget. One method involves looking at similar structures erected within the resent time frame since costs do not differ very much within the same location. A developer should always consult on the prevalent Continue reading

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Strategic issues in Not-for-Profit (NFP) organizations

Not-for-Profit (NFP): An organization that provides some service or good with no intention of earning a profit. NFP includes Private nonprofit corporations (such as hospitals, institutes, private colleges, and organized charities) as well as Public governmental units/agencies (such as welfare departments, prisons, and state universities) Types of Not-for-Profit Organizations Importance of Revenue Source: NFPs are dependant on dues, assessments, or donations for their revenue sources. In NFP organizations there is likely to be a very different sort of relationship between the organizations providing and the person receiving the service. Because the recipient of the service typically does not pay the entire cost of the service, outside sponsors are required. The pattern of Influence on Strategic Decision Making: Pattern of influence is derived from its source of revenues. Those who fund the NFP are likely to have a significant influence on its operations The usefulness of Strategic Management and Techniques: some Continue reading

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Importance of Production Planning and Control

For efficient, effective and economical operation in a manufacturing unit of an organization, it is essential to integrate the production planning and control system. Production planning and subsequent production control follow adaption of product design and finalization of a production process. Production planning is an activity that is performed before the actual production process takes place. It involves determining the schedule of production, sequence of operations, economic batch quantities, and also the dispatching priorities for sequencing of jobs. Production control is mainly involved in implementing production schedules and is the corollary to short-term production planning or scheduling. Production control includes initiating production, dispatching items, progressing and then finally reporting back to production planning. In general terms, production planning means planning of the work to be done later and production control refers to working out or the implementation of the plan. So, the system of production planning and control serves as Continue reading

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Difference between Coordination and Cooperation

Co-ordination and co-operation — the two should not be confused because the two terms denote quite different meanings.  Co-operation refers to the collective efforts of people who associate voluntarily to achieve specified objectives.   It indicates merely the willingness of individuals to help each other.   It is the result of a voluntary attitude of a group of people.   Co-ordination is much more inclusive, requiring more than the desire and willingness to co-operate of the participants.   It involves a deliberate and conscious effort to bring together the activities of the various individuals in order to provide unity of action.   It requires concurrence of purpose, harmony of effort and concerted action.   It is much more than mere reconciliation of differences or avoidance of friction. Co-operation provides the foundation for co-ordination by enlisting voluntary efforts which facilitate co-ordination, but by itself it cannot guarantee co-ordination.   Co-ordination does Continue reading

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What is Market Failure? Meaning, Causes and Recovery Strategies

Market failure can be defined as the situation in which the allocation of goods and services by free market is not efficient. It occurs as market fails to fulfill its obligation the most common failures involve cases of inadequate competition, inadequate information, resources immobility, public goods and imperfect competition. These failures occur on both the demand and supply sides of the market. Government failure occurs when the government intervenes in the market to improve the market failure actually makes the situation worse. When market failure exist there is a reason for possible government intervention to improve the outcome, but it`s not clear that government action will improve the result since the politics of implementing the solution often lead to further problems. Government can intervene to the market through subsidies, bailouts, wage and price controls, taxes and regulations. Attempts to correct market failure may also lead to an inefficient allocation of Continue reading

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