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

Most Important Functions of Management

Some would define management as an art, while others would define it as a science. Whether management is an art or a science isn’t what is most important. Management is a process that is used to accomplish organizational goals; that is, a process that is used to achieve what an organization wants to achieve. An organization could be a business, a school, a city, a group of volunteers, or any governmental entity. Managers are the people to whom this management task is assigned, and it is generally thought that they achieve the desired goals through the key functions of management. Some would include leading as a managing function, but for the purposes of this discussion, leading is included as a part of directing. The elements of management process are known as functions of management. However various authors have classified these differently. Henry Fayol classified the major functions of management into Continue reading

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Regulatory Provisions in FEMA with Respect to Current Account & Capital Account

Current Account Transactions Current Account Transactions as defined in Section 2 (j) of FEMA, means a transaction other than a capital account transaction and without prejudice to the generality of the other provisions shall include: payments due in connection with foreign trade, other account current business, services and short term banking and credit facilities in tire ordinary course of business; payments due as interest on loans and as net income from the investments; remittances for living expenses of parents, spouse and children resid ­ing abroad; expenses in connection with foreign travel, education and medical care of parents, spouse and children. Provisions to Section 5 of FEMA empowers the Central Government in public interest and in consultation with the Reserve Bank to impose such reasonable restrictions for current account transactions in exercise of the powers conferred and in consultation with the Reserve Bank the Central Government issued Foreign Exchange Management (Current Continue reading

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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

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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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