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

Organizational Culture – Development and Importance

Management Principles

Five Important Organizational Cultural Models

Management Principles

Developing Contracts in Procurement and Supply

Driving value through procurement and supply is the aim of every firm that has mastered the market forces. Such firms know that quality of the products they deliver to their customers and the price they shall charge all depend on their procurement strategies. As such, it is important to develop techniques that can be used in acquiring raw materials to improve the benefit, especially when the implementation is to be done in the future. The management should know the inclusions that should be made in the contract and measures that should be taken to ensure that changes in the market forces do not affect the agreements made in the contract. Effective management of the supply chain can help reduce the cost of production and in increasing value for the customers. Inclusions that should be Made in Procurement and Supply Contracts Developing contracts is one of the most complex processes that Continue reading

Abey Francis

How Poker Principles Can Train You for Business

According to recent surveys, more Americans want to enter the world of business and pursue their own endeavors. Per studies from Digital.com, up to two out of five respondents want to start their own business. Similarly, Gallup polls find that 62% want to be their own bosses. However, entering business is easier said than done, with upwards of 45% failing within five years of starting. One of the primary reasons for this is a lack of proper business understanding. Luckily, while there is no one magic map that unlocks all the mysteries of business, there are more accessible ways that people can train themselves for it. One of these is through poker, which has long been found to have overlapping principles with the business world. As explained in a previous post about corporate social responsibility, writer Abey Francis states that “business is said to be like a poker game, whereby Continue reading

Abey Francis

Difference Between a Patent and a Trade Secret?

A patent is an agreement between the inventor and the federal government under which the inventor receives an exclusive right to use the invention while having an obligation to make it public. A trade secret refers to any information or method giving the owner an exclusive competitive advantage if used in the business. The aim of a patent is to make the invention public while the aim of a trade secret is to keep the information hidden from publicity. While patents are limited in time, trade secrets are not. Another distinctive feature of a patent is its ability to protect the invention from being used by anyone except the owner of the patent for commercial purposes. A trade secret is not provided with such protection, as it can be used by another person if being discovered by legitimate means. The person can patent already existing trade secret if he/she discovers Continue reading

Abey Francis

Role of Information Technology in Turbulent Business Environments

A modern organization responds to continuous changes in the external environment, transforming its behavior, operational practices, and business processes. Business transformations cause changes in information systems (IS) supporting business processes, and changes in the corresponding IT infrastructure. In some cases, these changes may affect the corporate IS as a whole. The main feature of changes in a turbulent external environment, and, consequently, in corporate IS is their unpredictability. Thus, on the one hand, the corporate information system must ensure the effectiveness of the current business model, and on the other, possess the necessary level of flexibility to implement unpredictable changes in requirements. A modern organization operates in a highly turbulent external environment, so it must have a high level of adaptability or agility. In such environment, the conceptual model of a flexible corporate IS is defined as a working system that must compensate for the largest number of gaps caused Continue reading

Abey Francis

Factors Determining the Infringement of Trademark

Trademark infringement is defined as the unauthorized use of a trademark or service mark on or in connection with goods and services in a manner that is likely to cause confusion, deception, or mistake about the source of products. Infringement may be constituted as a result of a deliberate attempt by an individual or a company to benefit unfairly from the name of a strong brand by assuming a trademark that is similar to that of the competitor. In other cases, it may be a mistake caused by the inferiority and inconspicuous nature of the already existing trademark that leads to the confusion. Whether the action was deliberate or not, the affected party can seek legal redress whenever it feels that its brand name, logo, or other brand attributes have been infringed upon. It is expected of the owner of the trademark affected by the infringement to go to court Continue reading

Abey Francis

5 Divorce Law Marketing Tips to Grow Your Firm

Your divorce law firm will likely serve a specific region or area, categorizing it as a local business. However, this doesn’t mean it is a small business; large companies function solely within a particular city or state. Operating as a local business means your marketing efforts should be tailored to your area. This includes precisely defining your marketing strategy, audience, and target locations. This approach is essential for digital marketing and traditional methods like ads in local publications. Here are five divorce law marketing tips to help grow your firm. Practice Area Services and Pages Search engine optimization (SEO) plays a crucial role in the growth of your website. As a seasoned divorce lawyer, you aim to attract individuals seeking specific legal advice and provide swift answers to their inquiries. By doing so, you position yourself as a key player in the industry and drive valuable traffic to your site. Continue reading

Abey Francis