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

Stakeholder Analysis – Stakeholder Power and Interest Mapping

We can classify an organization’s stakeholders into Primary and Secondary. The primary stakeholders are those without whose continuing participation a firm cannot exist. They include shareholders & investors, employees, contractors, customers & suppliers. On the other hand, secondary stakeholders are those who influence or affect or are influenced by, the corporation, but they are not engaged in transactions with the corporation or essential for its survival. They include media, action groups, government agencies, trade unions, regulatory authorities. Stakeholder management is the process of managing the expectation of anyone that has an interest in a project or will be effected by its deliverables or outputs. Any company which aims to achieve long term success has to chalk out a strategy for managing its stakeholders. There are two major elements to Stakeholder Management: Stakeholder Analysis and Stakeholder Planning. Stakeholder Analysis is the technique used to identify the key people who have to Continue reading

Abey Francis

Importance of Leadership

Although there is no universal definition of leadership, or the traits that comprise it, all definitions can be summarized as the process of social influence in which one person can enlist the aid and support of others in the accomplishment of a common task. Basically, leadership concerns organizing a group of persons to realize a common objective and this involves inspiring them to adopt a teamwork strategy. There are four main concepts involved in leadership, i.e. the leader, the followers, communication, and situation. The leader must be honest in all his/her roles. It is vital to point out that it is the subjects who decide the success of a leader. Consequently, the leader must employ two-way communication and consider the situation before choosing a communication strategy. The importance of leadership in the field of management is given below: Helps in guiding and inspiring the employees: leader guides and inspires his subordinates towards Continue reading

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Moving to Blue Ocean Strategy – Shift from Red Ocean to Blue Ocean

In global market today, it can be supposed that there are two typical kinds of oceans: read oceans and blue oceans. Of two sorts of market, red oceans are defined as a known space for all existent industries nowadays. On the contrary, blue oceans are regarded as an unknown area for industries which do not exist. As a result, red oceans present all existing rules related to business competition and industrial regulations. This market defines and determines the boundaries for all games and rules. In this market, companies strive to compete with their competitors and rivals in order to gain better benefit and dominate more market share of current demand. Therefore, red oceans provide for space for enterprises to focus on their competition for decades. However, the space is limited while competitive battles are becoming increasingly fierce. There are more and more participants wanting to invest in the same products. Continue reading

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Transaction Process System – Activities, Objectives and Characteristics

Transaction processing system (TPS), an information system (IS) mostly used by managers in operational management to record internal transactions, economic events that occur within an organization and external transactions where the business event took place outside the organization to make operational decision. TPS supports different tasks by setting a set of rules and guidelines that specify the ways to capture or collect, process and store any transaction in a form of data or information. Transaction Process System Activities Processing business transactions was the first application of computer of most firms. Since the 1950s, Transaction processing system (TPS) have evolved from slow, manual systems to advanced computerized system. TPS, a cross-functional information system were among the earliest computerized systems developed to record, process, validate, and store business for future use or retrieval. Transactions are the economic events or exchange between two or more business entities. Basically, TPS is an organized collection Continue reading

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Economic Environmental Scanning

Firms that anticipate economic change and identify the constituents through which that change will be applied; can better adapt goals and action plans. Shareholder expectations of financial return are dictated in part by alternative investments and their associated return and risks. Interest rates, tax policies, shareholder incomes, availability of funds for margin-purchased equity investments, and expectations of future economic circumstances will shape changes in equity investor profiles and/or the financial performance expectations of the firm’s owners. Personal income, savings, employment, and price-level trends can have dramatic effects on the attractiveness of a firm’s products or services in output markets–not only final markets, but intermediate markets as well. Similarly, total sectoral outputs, movements in private-sector capital replacement and expansion, government spending, and the allocation of the consumer dollar can have dramatic impacts between and within industrial sectors. Each can be set off macroeconomic changes well outside the control of the firm, Continue reading

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Waiting Lines and Queuing System in Management Science

Waiting in lines is a part of our everyday life. Waiting in lines may be due to overcrowded, overfilling or due to congestion. Any time there is more customer demand for a service than can be provided, a waiting line forms. We wait in lines at the movie theater, at the bank for a teller, at a grocery store. Wait time is depends on the number of people waiting before you, the number of servers serving line, and the amount of service time for each individual customer. Customers can be either humans or an object such as customer orders to be process, a machine waiting for repair. Mathematical analytical method of analyzing the relationship between congestion and delay caused by it can be modeled using Queuing analysis. Queuing theory provides tools needed for analysis of systems of congestion. Mathematically, systems of congestion appear in many diverse and complicated ways and Continue reading

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