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

The Law of Diminishing Marginal Utility

The law of diminishing marginal utility was first developed by a German economist Hermann Heinrich Gossen. This law is also known as the first law of Gossen. The law of diminishing marginal utility states that the marginal utility derived from the consumption of every additional unit goes on diminishing, other thing remaining the same. The law of diminishing marginal utility is based on two important facts : Though human wants are unlimited, each single want is satiable. Commodities are not perfect substitute for each other. Therefore, as a consumer consumes more and more units of a commodity, intensity of his/her want for the commodity goes on falling and reaches a point where a consumer do not want any more units of the commodity. That is, when saturation point is reached marginal utility of a commodity becomes zero. Thus, as the amount of consumption of a commodity increases, marginal utility decreases. Continue reading

Abey Francis

Modeling Techniques in Management Science

Management science is the science for managing and involves decision making. It utilizes what is controllable, and tries to predict what is uncontrollable in order to archive a specific objective. Science is a continuous search; it is a continuing generation of theories, models, concepts, and categories. Management science uses analytical methods to solve problems in areas such as production and operations, inventory management, and scheduling. Typical management science approach is to build a model for the problem being studied, such a model is often a mathematical model. Practical problems are often unstructured and lack clarification in definition of problem which makes mathematical modeling a challenge. Therefore modeling of a problem is important phase in problem solving technique. Once model is built, algorithms are used to solve problem. Various techniques are devised to model problem and solve it for possible solutions. Linear programming is one of the widely used modeling techniques. Continue reading

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Capital Budgeting- Definition, Nature and Procedure

Meaning of Capital Budgeting Capital expenditure budget or capital budgeting is a process of making decisions regarding investments in fixed assets which are not meant for sale such as land, building, machinery or furniture. The word investment refers to the expenditure which is required to be made in connection with the acquisition and the development of long-term facilities including fixed assets. It refers to process by which management selects those investment proposals which are worthwhile for investing available funds. For this purpose, management is to decide whether or not to acquire, or add to or replace fixed assets in the light of overall objectives of the firm. What is capital expenditure, is a very difficult question to answer. The terms capital expenditure are associated with accounting. Normally capital expenditure is one which is intended to benefit future period i.e., in more than one year as opposed to revenue expenditure, the Continue reading

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SWOT Analysis of IKEA

Swedish company IKEA is  the world’s largest furniture retailer since the early 1990’s. It sold inexpensive furniture of Scandinavian design. The company operated in 55 countries with a workforce of 76000. IKEA offered nearly 12000 items to the home furnishings market worldwide. It sold a wide range of products including furniture, accessories, bathrooms and kitchens at 186 retail stores in 30 countries across Europe, North America, Southeast Asia, Middle East and Australia. IKEA is well known for its exclusive model, low price, wide range of product and flat packing. IKEA’s success was recognized to its vast experience in the furniture retail market, its product differentiation and cost leadership. The company sold its furniture in kits, to be assembled by the customers at home. In addition to furniture, IKEA also sold utility items such as utensils, hooks, clips, stands, etc. IKEA’s founder Ingvar Kamprad (Kamprad) had built an international furniture chain Continue reading

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Case Study of Papa John’s: Quality as a Core Business Strategy

Would you recognize a Papa John’s Pizza sign from a distance? Many people would, given the distinctive green and red emblem and logo, which is designed to attract attention and place the store in a flattering fight Papa John’s began as a small, one-store operation that evolved out of the need to rescue a failing tavern. Quick success meant expansion to 4 stores in two years and 23 stores in five years. Currently, Papa John’s plans to complete more than 2,000 units with over $1 billion in sales in a mature industry most felt was saturated with competitors. In order to survive in a highly competitive market place, Papa John’s needed to develop a distinctive voice. One clear message was needed to penetrate every aspect of the business, including hiring decisions, selection of locations, and all business strategies and tactics. At the strategic level, each of the big three pizza Continue reading

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Database Management System (DBMS) – Components, Advantages, and Disadvantages

A Database management system (DBMS) is software designed to manage and maintain large quantities of data. The DBMS serves as the mediator between the user and the database. The database structure itself is stored as a collection of files. The data in these files can only be accessed through the DBMS. A single, integrated view of the data in the database is shown to the user by the DBMS. All application requests received by the DBMS are translated into complex operations required to fulfill these requests. The database’s internal complexity is hidden by the DBMS from the application programs and users. The application program might be written by a computer programmer using a programming language, such as Visual Basic, NET, Java, or C#, or it might be created through a DBMS utility program. Components of a Database Management System A data definition language (DDL) allows users to define the database. Continue reading

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