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

Modern Theories of Organization

Modern organizational behavior has become complex. It synthesizes the classical and neoclassical theories of organization, while incorporating technological development.  Modern theories of organization are classified into quantitative theory, system   theory and contingency theory. 1. Quantitative Theory The quantitative theory includes operation research and quantification of the problem.   It analyses the problems from quantifiable angles and provides solutions to complex problems only with the help of statistical and mathematical models such as linear and non-linear programming, game theory, decision tree, simulation and probability.   Computers are used to solve management problems whereas mathematical models were previously used for the purpose. A large number of problems are solved with the use of simulation equations and computers.   The development of equations requires specialized skills and advance knowledge of mathematics, statistics, economics and behavioral sciences.   Models are tested while the context of the real world and use of operation research. Continue reading

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Strategic Pricing

Pricing is a key factor in business innovation. Strategic pricing involves aligning the pricing strategy with corporate strategy. The price must be chosen carefully after considering various scenarios and possible implications. Is the price attractive enough to capture the mass of target buyers? Can the company make the offering at the target cost and still earn a healthy profit margin? Can the company profit at a price that is affordable to the target buyers? Strategic pricing is a key component of Blue Ocean Strategy pioneered by Chan Kim and Renee Mauborgne.  To have strong revenue flowing, the strategic price must be set. This procedure will ensure that consumers will want to buy and will have the compelling ability to achieve it. It is fundamental, from the start, to know the price that will bring mass of target consumers.  The strategic price defined must not only attract customers but also retain Continue reading

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Management Accounting – Definition, Nature and Functions

That part of accounting system which facilitates the management process of decision-making is called management accounting.   Basically it is the study of managerial aspect of financial accounting, “accounting in relation to management function”. It shows how the accounting function can be re-oriented so as to fit it within the framework of management activity. It presents accounting information in such a way as to assist management in the creation of policy and in the day-to-day operations of an undertaking.    Management accounting has the ability to communicate a great variety of facts in a systematic and meaningful manner.   The task of management accounting is not to make decisions; rather it facilitates the process of decision-making.   Management accounting is a systematic approach to planning and control functions of management.   It generates information for establishing plans and controls. Definition of  Management Accounting According to the  Chartered Institute of Management Continue reading

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Absenteeism in the Workplace

Absenteeism is habitual or pattern of absence from the duty. Absenteeism is viewed as indicator of poor individual performance, or poor employee morale. Its found that rate of absenteeism is lowest on pay day it increase considerably the days following payment of wages. Absenteeism is generally higher in young workers below the age of 25 to 28. The young employees spend more of their time with family and friends. Percent of absenteeism is high in night shift as compared to day shift. There are two types of absenteeism which are as follows: Innocent absenteeism: Innocent absenteeism refers refer to employees who are absent for reason beyond their control, like sickness and injury. Culpable absenteeism: Culpable absenteeism refers to employees who are absent without authorization for reasons which are within their control. For example if an employee is on sick leave even though he or she is not sick and if Continue reading

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Re-Insurance and Double Insurance

Re-insurance and double insurance contracts are two different concepts and are detailed here under. They both are similar to the contract of insurance, however, they have their own nature and the contract goes on as per the requirement. Re-insurance Every insurer has a limit to the risk that he can undertake. If at any time a profitable venture  comes his way, he may insure it even if the risk involved is beyond his capacity. Then in order to  safeguard his own interest, he may insure the same risk either wholly or partially with other insurers. This  is called re-insurance. The reason for re-insurance like the reason for original insurance is the necessity  of spreading the risk. Re-insurance can be resorted to in all kinds of insurance. The insurer has an insurable interest in  the subject-matter insured to the extent of the amount insured by him because a contract of re-insurance Continue reading

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Commercial Bill – Meaning, Characteristics and Types

Bills of exchange are negotiable instruments, drawn by the seller (drawer) of the goods on the buyer (drawee) of the goods for the value of the goods delivered. These bills are known as trade bills. Trade bills are called commercial bills when they are accepted by commercial banks. If the bill is payable at a future date and the seller needs money during the currency of the bill, he may approach his bank to discount the bill. The maturity proceeds or face value of a discounted bill from the drawee is received by the bank. If the bank needs funds during the currency of bill, it can rediscount the bill that has been already discounted by it in the commercial bill rediscount market at the available market discount rate. The RBI introduced the Bills Market scheme (BMS) in 1952 and the scheme was later modified into the New Bills Market Continue reading

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