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

Secondary Data Sources for Research

Secondary data are data that are taken from research works already done by somebody and used for the purpose of the research data collection.  The reason why secondary data are being increasingly used in research is that published statistics are now available covering diverse fields so that an investigator finds required data readily available to him’ in many cases. For certain studies like stock price  behavior, interest and exchange rate scenario, etc. only secondary data are used. There are two broad categories of secondary data – internal secondary data and external secondary data. Internal secondary data:  Internal (secondary) data refers to information that already exists within the company in which the research problem arises. For instance, in many companies, salesmen routinely record and report their sales. Examples of secondary data include records of sales, budgets, advertising and promotion expenditures, previous marketing research studies and similar reports. Use of such secondary Continue reading

Abey Francis

Nature of Demand in Industrial Markets

The demand for industrial products and services does not survive by itself. It is  derived from the ultimate demand for consumer goods and services. Therefore,  industrial demand is called derived demand. Sometimes, the demand for  industrial product is called joint demand, when the demand for a product  depends upon its use along with the existence of other product or products.  Cross elasticity of demand exists for some substitute products in industrial  market. These concepts are detailed as follows: Derived Demand The single most important force in marketing of industrial products and services  is derived demand. Industrial customers buy goods and services for making the  use in producing other goods and services and finally produced product/service  sold to the consumers. In industrial marketing, the demand for industrial goods  and services is derived from consumer goods and services. For example, the  demand for precision steel tubes does not exist in market. It Continue reading

Abey Francis

Case Study: An Analysis of Apple’s Product Development Process

New product development is a high risk proposition for firms to start as it involves high level of risk in targeting a budding market segment where customer wants are hidden and service or product requirements are implicit. On the other hand, new products often create considerable opportunities for firms to differentiate their offering (product or service) and helps in attaining a lead from competitors through differentiation. This lead can be termed competitive advantage. A successful new product launch creates industry wise unique standards, which may become barriers of entry for new firms trying to penetrate. It also helps in refreshing the minds of the engineering personnel; sales force and give them a sense of accomplishment. It also provides opportunity for corporate renewal and redirection to the firm for its long run planning. A study of the US market reveals that nearly 30,000 products are introduced yearly in the packaged goods Continue reading

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Prerequisites for a Good Incentive Scheme

‘Incentive’ may be defined as any reward of benefit given to the  employee over and above his wage or salary with a view to motivating him to  excel in his work. Incentives include both monetary as well as non-monetary  rewards. A scheme of incentive is a plan to motivate individual or group  performance. It is true that monetary compensation does constitute very important  reason for the working of an employee. But this compensation alone cannot  bring job satisfaction to the workers. One cannot expect effective performance  from a worker who is dissatisfied with its job, even if he is well paid.  Sociologists and industrial psychologists also view that the financial aspect is  not the only dominant motivating force. Confidence in the management, pride  in the job and in firm and concern for the overall good cannot be brought by a  bonus. Hence the modern authorities on management science have recognized Continue reading

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Word-Of-Mouth Marketing – Meaning and Importance

In the present age, when skipping of television commercials is merely a matter of pushing a button of television remote and traditional advertisements reach fewer number of people, marketing professionals are increasingly moving away from mass media to word-of-mouth marketing. In addition to the traditional word-of-mouth communications, emerging marketing channels like blogs, buzz, viral and e-mails are gaining popularity as the new electronic word-of-mouth. While a positive word-of-mouth accelerates the acceptance of brands in new markets and reduces brand promotional expenses in existing markets, a negative word-of-mouth may hamper a brand’s acceptance and tarnish its reputation. Since word-of-mouth marketing has been playing a major role in marketing of organizations and some of its aspects are still evolving and have strong potential in future marketing campaigns of organizations, the focus of this article would be to explore issues related to word-of-mouth marketing in developing a strategic marketing plan for an organization. Continue reading

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Price Analysis and Theory of the Firm

To understand the concept of market and its various conditions, it is necessary to study the  theory  of the firm. This is discussed as follows: The basic, assumptions of the theory of the firm are as follows: The objective of a firm is to  maximize  net revenue in the face of given prices and technologically determined production function. A price  increase  far a product raises its supply, whereas prices increase for a factor  reduces  its demand. The theory of the firm deals with the role of business firms in the resource allocation process. It uses aggregation as a tactic and attempts to specify total market supply and demand curves. The firm operates with perfect knowledge of all relevant variable involved in making a decision and it acts rationally while doing so. Originally the theory assumed that the firm is operating within a perfectly competitive market. But it has now been Continue reading

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