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

Trickle-Down Economics or Reaganomics

In economics and politics, the term trickle-down economics or Reaganomics is the pejorative term for the theory that taxing the wealthiest individuals in society less will in allow those individuals to invest more of their money into the economics development and create new jobs for the middle and lower class. Proponents for the theory use the term supply-side economy, considering that the idea of the middle to lower classes tangentially receiving benefits through economics policy which directly benefit the rich is somewhat insulting. The basic idea is that the recipients of the tax cuts will then be able to invest more money into infrastructure, opening more stores and companies, which will then provide more jobs as well as drive down the prices of goods. However, in terms of economic theory, there have been no major economists who have ever supported this theory or have attempted to defend the “trickle-down” aspect Continue reading

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Effect of Price Controls on an Economy

A lot has been said about open economies but the fact is that their existence is only in theory. It is common knowledge that all countries in the world have some entry restrictions in their markets. With this in mind, open economies are described as those countries whose policies allow production and pricing to be determined by the forces of supply and demand. The aforementioned restrictions are, therefore, in the form of policies that countries develop in a bid to accelerate economic growth. One of such policies is price control in which a government gives price floors and/or ceilings for products, rent, wages, etc. This article is an in-depth investigation of the effect of price controls like rent control and minimum wage on the efficiency of an economy. Importance of Price Controls Price controls are a very important part of any market. They play very important roles in protection of consumers Continue reading

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Socially Responsible Mutual Funds – Definition, Advantages, and Disadvantages

A mutual fund is an investment vehicle that is made up of a pool of funds collected from many investors for the purpose of investing in securities such as stocks, bonds, money market instruments and similar assets. The funds are managed by what is referred to as fund managers who invest the fund’s capital to generate income and capital gains for the investors. A socially responsible mutual fund is defined as one that holds securities in firms that observe and adhere to moral, religious, social and environmental beliefs or ethics. The funds also hold securities in firms that demonstrate high standards of corporate citizenship or Corporate Social Responsibility. The concept of corporate citizenship is generally used to refer to the relationship between businesses and their environment. All businesses operate in social, political, economic, and natural environments. The concept, therefore, takes into account how businesses interact with these environments, either positively or Continue reading

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High Performance Working (HPW) Approach to Organization Performance

Business leaders should implement powerful concepts in their organizations to meet employees’ needs and improve performance. The High Performance Working (HPW) approach is one of the concepts that can make a difference in a given organization. This approach has been embraced by managers to create and sustain High Performance Work Systems (HPWS). The Concept and Components of High Performance Working (HPW) According to the United Kingdom Commission on Employment and Skills, High Performance Working (HPW) focuses on the best strategies to manage organizations and empower employees to focus on every business objective. The implementation of the concept has been considered to maximize employee commitment, thereby delivering improved levels of performance. The model is designed in such a way that employees are guided and supported to put adequate efforts into their activities. Consequently, the workers utilize their competencies and ideas in an attempt to support the goals of the targeted organization. Continue reading

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Maximizing Social Media for Small Business Growth: Best Practices and Tips

Social media has become an indispensable tool for small businesses seeking to grow and thrive. With the right strategy, you can turn social platforms into powerful drivers of brand awareness, customer engagement, and revenue. However, using social media effectively requires more than just posting content; it demands a focused approach that aligns with your business goals. Whether you’re a small local shop or an emerging online brand, maximizing social media for growth can provide immense value. Here are some best practices and tips to get you started. Define Your Goals Before you start posting on social media, it’s essential to define what you want to achieve. Social media can help in various aspects of business, from increasing brand awareness to driving traffic to your website or generating leads. Are you trying to boost sales? Or are you focused on growing your audience and fostering a loyal community? Knowing your objectives Continue reading

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Difference between Patent and Copyright?

A patent is authority granted to the creator of intangible property the gives them the ability to exclude others from making, or selling the IP or invention. A strong patent protection allows only the original innovator to use the innovated technology and increases innovator’s incentive.  A patent can be used to protect a business process, medicine formulas, hardware, and software.  A utility patents protects the rights of the creator for a term of 20 years from the time the application is filed, while a design patent generally provides protection for 14 years for the time that patent is granted.  The difference being that a utility patent protects the way an article work and a design patent protects the way it looks.  By getting a patent the original creator also retains the right to authorize others to produce and sell their invention.  This authorization is usually granted through a sale or Continue reading

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