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

Components of a Strategic Plan

Strategic plan of any enterprise is a picture of the desired position of the organization. Strategic plan gives a root path that how the organization will achieve the desired place or position in the given industry. Three major components of strategic plan include formulation, implementation and evaluation of strategy carries that information and plan which provides a direction towards the organizational objectives. 1. Strategy Formulation Strategy formulation process starts with the situation analysis of the organization. Situation analysis is an important part of strategic plan as it gives an overview of the existing position of the organization. Situation analysis includes the analysis of internal and external environment of the organization. Different strategic tools can be used to evaluate this situation i.e. SWOT analysis, PEST Analysis etc. This also includes the evaluation of current mission and vision of the organization. Vision statement clarifies that what an organization want to become and Continue reading

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Role of Digitalization in Business Growth

Digitalization refers to the use of digital technologies to transform and automate business processes. The adoption of digitalization has played a significant role in business growth. It has revolutionized the way companies operate and engage with customers, employees, and other stakeholders. In this article, we will explore the role of digitalization in business growth and how it has transformed traditional business models. Digitalization and Business Growth Digitalization has played a vital role in business growth by enabling companies to automate processes, streamline operations, and reduce costs. One of the key benefits of digitalization is that it has enabled businesses to reach a broader audience by using digital channels such as social media, search engines, and online marketplaces. This has allowed businesses to tap into new markets and expand their customer base, resulting in increased sales and revenue. Another significant benefit of digitalization is that it has enabled businesses to improve Continue reading

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Long-Term Industrial Product Strategies

Industrial marketing firms have to  adopt the following three important steps for developing long term product  strategies for existing individual products and products lines. Assessing the performance of all the existing products or product lines by  using product evaluation matrix. Examining the relative strengths and weakness of the firm’s products in  comparison to competitors’ products by using perceptual mapping technique. Deciding the product strategies for the existing products based on the above  analysis. 1. Product Evaluation Matrix Yoran Wind & Henry Claycamp have developed  a technique called product evaluation matrix to be used to assess the product  performance. Performance parameters of a product such as industrial sales,  company sales, market share and profitability are combined in the matrix.  Industry sales are represented on vertical axis and are grouped as growth, stable  or decline. Company sales are assessed on horizontal axis and are grouped as  growth, stable or decline. In the Continue reading

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Enriched Work Systems

The Socio-Technical Model of  Enriched Work Systems The classical design of jobs was to construct them according to the technological imperative, that so, to design them according to the needs of technology and efficiency and give little attention to other criteria. Job enrichment went a large step toward emphasizing the human (social) side by exploring how jobs could be redesigned to make them more motivating and satisfying. An even more comprehensive approach is to provide a careful balance of the human imperative and the technological imperative. Work environments, and the jobs within them, are required to fit people as well as technology. The socio-technical systems approach considers not only how inputs are transformed into outputs, but also how employees and the organization can develop interpersonal and social relationships for mutual gain. Both technical and social systems receive high priority, and they are simultaneously managed for the best possible integration. This Continue reading

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Basic Laws of Sampling

Sometimes it is possible to obtain sufficiently accurate results by studying a part/a segment of the population. Thus the few items are selected from the population in such a way that they are the representative of the universe and these representatives in research are called as ‘sample’. The process of selecting the representatives from the population is called ‘sampling’. Thus sampling is simply the process of learning about population on the basis of sample drawn from it. Under this method a small group of universe is taken as the representative of the whole mass and the results are drawn. It is the method to make social/business investigation practicable and easy. Sampling is, therefore, resorted to when either it is impossible to enumerate all the units in the whole population or when it is too costly to enumerate in terms of time and money or when the uncertainty inherent in sampling Continue reading

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International Human Resource Management (IHRM) – HRM from an International Perspective

International Human Resource Management International Human Resource Management (IHRM) involves ascertaining the corporate strategy of the company and assessing the corresponding human resource needs; determining the recruitment, staffing and organizational strategy; recruiting, inducting, training and developing and motivating the personnel; putting in place the performance appraisal and compensation plans and industrial relations strategy and the effective management of all these functions from an international perspective. The strategic role of HRM is complex enough in a purely domestic firm, but it is more complex in an international business, where staffing, management development, performance evaluation, and compensation activities are’ complicated by profound differences between countries in labor markets, culture, legal systems, economic systems, and the like. It is not enough that the people recruited fit the skill requirement, but it is equally important that they fit in to the organizational culture and the demand of the diverse environments in which the organization Continue reading

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