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

Is Management is an Art or a Science?

Is management characterized as an art, as a science or both? In order to investigate the nature of Management, it would be useful firstly to define it. According to Drucker “Management is about human beings. Its task is to make people capable of joint performance, to make their strengths effective and their weaknesses irrelevant. This is what organization is all about, and this is the reason why management is the critical, determining factor”. Nowadays, practically everyone works for a managed institution, large or not, business or not. Our living actually depends on management. The ability we have to contribute to society, depends firstly on the way, the institute we work for, is managed and furthermore on our own abilities, devotion and effort. For years now, there has been a great debate on whether management can be characterized as a science or as an art. Management as an Art Art is Continue reading

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Monopolistic Competition

In the real world, market is neither perfectly competitive nor a monopoly. The great  majority of imperfectly competitive producers in the real world produce goods, which are  neither completely different nor completely same. They produce goods, which are  analogous to those produced by their rivals. This means that the goods produced in the  market are close substitutes. It follows that such producers must be concerned about the  way in which the action of these rivals affects their own profits. This kind of market is known  as ‘Monopolistic Competition’ or group equilibrium. Here there is competition, which is  keen, though not perfect, between firms manufacturing very similar products. According to Chamberlin,  “Monopolistic competition is a challenge to the traditional viewpoint of economics that competition and monopoly are alternatives…By contrast it is held that most economic situations are composites of both competition and monopoly.” Monopolistic Competition is that market category in which Continue reading

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Marketing Strategy: Definition and Process

Marketing strategy consists of the analysis, strategy development, and implementation activities in: “Developing a vision about the market(s) of interest to the organization, selecting market target strategies, setting objectives, and developing, implementing, and managing the marketing program positioning strategies designed to meet the value requirements of the customers in each market target”. Strategic marketing is a market-driven process of strategy development, taking into account a constantly changing business environment and the need to deliver superior customer value. The focus of strategic marketing is on organizational performance rather than a primary concern about increasing sales. Marketing strategy seeks to deliver superior customer value by combining the customer-influencing strategies of the business into a coordinated set of market-driven actions. Strategic marketing links the organization with the environment and views marketing as a responsibility of the entire business rather than a specialized function. Because of marketing’s boundary orientation between the organization and its Continue reading

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Weighted Average Cost of Capital (WACC)

A firm uses various sources of finance to finance its projects. Each source of finance will be having a specific cost. So in order to determine the overall cost of capital of the firm, the weighted average cost of individual sources of finance should be determined with the weights being the proportion of each type of capital used. The Weighted Average Cost of Capital (WACC) is defined as the weighted average of the cost of various sources of finance, weights being the book value or market values of each source of finance. If ko represents the weighted average cost of capital or overall cost of capital then,  ko     = wdkd + wpkp + wtkt +   weke + wrkr where, ko   = weighted average cost of capital kd   = cost of debt kp   = cost of preferred stock kt     = cost of term Continue reading

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Effective Logistics and Competitive Advantage

Effective logistics management can provide a major source of competitive advantage. The bases for successes in the marketplace are numerous, but a simple model has been based around the three C’s — Customer, Company & Competitor. The source of competitive advantage is found firstly in the ability of the organization to differentiate itself, in the eyes of the customer, from its competition and secondly by operating at a lower cost and hence at greater profit. Seeking a sustainable competitive advantage has become the concern of every manager who realizes the realities of the marketplace. It is no longer acceptable to assume that the goods will sell themselves. An elemental, commercial success is derived either form a cost advantage or a value advantage or, ideally both. The greater the profitability of the company the lesser is the cost of production. Also a value advantage gives the product an advantage over the Continue reading

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Warehousing Function of Logistics

A warehouse is a location with adequate facilities where volume shipments are  received from a production  center, broken down, resembled into combinations  representing a particular order or orders and shipped to the customer’s location or  locations. The rationale for establishing a warehouse in a distribution network is the  creation of a differential advantage for the firm. This advantage accrues from  achieving a lower overall distribution cost and/or obtaining service advantage in a  market area. The concept of a distribution warehouse or a distribution  center  is vastly different  from the earlier concept of a godown for storage. The need of that system is sue to Ensuring protection against delays and uncertainties in transportation arising  from a variety of factors. Eliminating lack of sophistication in production control and consequent  uncertainties in the availability of product at the desired time and place. Providing for adjustment between the time of production and the time Continue reading

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