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

What is Project Management?

A project is an endeavor that is undertaken to produce the results that are expected from the requesting party. A project consists of three components namely, scope, cost and schedule.     When a project is first assigned to a project manager it is important that all three of these components be clearly defined.   Scope represents the work to be accomplished, i.e., the quantity and quality of work.   Cost refers to costs, measured in dollars and /or labor-hours of work.   Schedule refers to the logical sequencing and timing of the work to be performed.   The quality of a project must meet the owner’s satisfaction and is an integral part of project management, which is shown as an equilateral triangle to represent an important principle of project management: a balance is necessary between the scope, budget, and schedule. In any project, there is a certain amount of Continue reading

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Risk Management Within an Organization

Risk management is a identification process of upcoming threats and danger to an organization. In an organization risk can enter through many ways, it can come from project failure, financial market, an accident in organisation such as flood, earthquake, cyclone, power failure, public health and safety and legal risk etc. Risk can be low to medium, or medium to high. It is difficult to say that an organisation can solve all the upcoming risks to the organisation like earthquake, we can just assume that earthquake can damage the business, but we cannot say how much, but there are some alternatives of upcoming threats like in power failure we can use generator to keep running the business. The purpose of risk management within an organization to identify problems before they enter and create problems in the organisation, so that risk management handling process may be planed. It is a continuous looking Continue reading

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Classification of Negotiable Instruments

Negotiable instruments continue to hold a significant place in business because they are the primary means of payment and the way that trade obligations are fulfilled. It is crucial to remember that using negotiable instruments to send and receive payments has become much more common in today’s society. Negotiable instruments is defined as any transferable document that ensure the payment of a specified sum of money to the party mentioned on the document, either under duress or at a specified time. The Negotiable Instruments Act 1881, for instance, governs the rules pertaining to negotiable instruments in India. Upon the transfer of the negotiable instruments also called negotiation of the instrument, the holder in due course acquires the full legal responsibility to the instrument. Indeed, the negotiable instruments can either be transferred by either delivery or by endorsement and delivery. Classification of Negotiable Instruments 1. Inland Instrument A promissory note, bill Continue reading

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Cost Audit – Definitions, Objectives, Advantages and Limitations

Cost audit is an audit process for verifying the cost of manufacture or production of any article, on the basis of accounts as regards utilization of material or labor or other items of costs, maintained by the company. In simple words the term cost audit means a systematic and accurate verification of the cost accounts and records and checking of adherence to the objectives of the cost accounting. As per ICWA London’ “cost audit is the verification of the correctness of cost accounts and of the adherence to the cost accounting plan.” The ICWAI defines cost audit as “system of audit introduced by the government of India for the review, examination and appraisal of the cost accounting records and attendant information required to be maintained by specified industries” From above definition of cost audit, it is clear that cost audit is a systematic examination of cost accounts to verify correctness Continue reading

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Benefits of Ethical Practices in Business

Business ethics set the standard for how your business is conducted. Ethical principles provide the foundations for various modern concepts for work, business and organization’s, which broaden individual and corporate priorities far beyond traditional business aims of profit and shareholder enrichment. Ethical factors are also a significant influence on institutions and public sector organization’s, for whom the traditional priorities of service quality and cost management must now increasingly take account of these same ethical considerations affecting the commercial and corporate world. Importance of Ethics in today’s Business world With legal scandals concerning insider trading and employee theft making the news, it is no wonder that businesses are increasingly giving attention to the ethical basis of their business and how to lead in an ethical way. Ethical investment is a useful aspect for considering ethical business, since large scale investment is ultimately subject to market forces, which largely reflect public opinion. As Continue reading

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Importance of Creativity and Innovation in Entrepreneurship

Business, innovation and creativity are interlinked terms. Business, any business, cannot exist without creativity. The very notion of starting up your own business, take calculated risks and give your best to succeed, is the definition for entrepreneurial creativity. Innovation is what makes the difference, what gives a company a competitive edge, what turns a small “garage” business to a multinational with offices around the world and with billions of pounds in its corporate accounts. Creativity, realized through innovation is what drives our economy, is what capitalism is built on, is what creates companies like Apple, Microsoft, and Dyson and Goldman-Sacks. Important Role of Creativity and Innovation in the Entrepreneurial Process Every sector of business and every sector of life is subject to creativity and innovation. If is strange that when the word creativity is mentioned most people think of painters or sculptors or even photographers and when the word innovation Continue reading

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