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

The Importance of Population Trends in Business

The population of a country and its economic growth is closely interlinked with the attainment of economic development; a country must consider its human resources both from the angle of assets and liabilities. That proper utilization of natural endowments and the level of production of national wealth depend very much on the extent and efficiency of human resources, but too much of population will again eat up all the fruits of developments. From the point of view of economic welfare it is quite essential to study human resources in detail at the same time it should be stressed human beings are the vital instruments of production. The fruits of all economic activities are rested on the betterment of conditions of living of human being. The human resources are playing a vital role in attaining economic development of country. The economic development of country involves proper utilization of its physical resources Continue reading

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Profit Maximization Methods in Managerial Economics

The profit  maximization  theory states that firms (companies or corporations) will  establish factories where they see the potential to achieve the highest total profit. The  company will select a location based upon comparative advantage (where the product can  be produced the cheapest). The theory draws from the characteristics of the location site,  land price,  labor  costs, transportation costs and access, environmental restrictions, worker  unions, population etc. The company will then elect the best location for the factory to  maximize  profits. This is anathema to the idea of social responsibility because firms will  place their factory to achieve profit  maximization.  They are nonchalant to environment  conservation, fair wage policies and exploit the country. The only objective is to earn more  profits. In economics, profit  maximization  is the process by which a firm determines the  price and output level that returns the greatest profit. There are several  approaches to profit maximization. 1. Continue reading

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Case Study on New Performance Appraisal System at Xerox

In the mid-1980s Xerox corporation was faced with a problem–its performance appraisal system was not working. Rather than motivating the employees, its system was leaving them discouraged and disgruntled. Xerox recognized this problem and developed a new system to eliminate it. Old Performance Appraisal System The original system used by Xerox encompassed seven main principles: The appraisal occurred once a year. It required employees to document their accomplishments. The manager would assess these accomplishments in writing and assign numerical ratings. The appraisal included a summary written appraisal and a rating from 1 (unsatisfactory) to 5 (exceptional). The ratings were on a forced distribution, controlled at the 3 level or below. Merit increases were tied to the summary rating level. Merit increase information and performance appraisals occurred in one session. This system resulted in inequitable ratings and was cited by employees as a major source of dissatisfaction. In fact, in 1983, Continue reading

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Scenario of Indian Banking Sector in Pre and Post Reform Period

Scenario of Indian Banking Sector in Pre Reform Period Banking is an ancient business in India. Initially, the growth of Indian banks was very slow and also experienced periodic failures between 1913 and 1948. To streamline the functioning and activities of commercial banks, the Government of India came up with The Banking Companies Act, 1949 which was later changed to Banking Regulation Act, 1949 as per amending Act of 1965 (Act No. 23 of 1965). During those days, public had lesser confidence in the banks. As an aftermath deposit mobilization was slow. Government took major steps in Indian banking sector reform after independence. On 19th July 1969, major process of nationalization was carried out. It was the effort of the then Prime Minister of India, Mrs. Indira Gandhi. Fourteen major commercial banks were nationalized. Second phase of nationalization of Indian banking sector reform was carried out in 1980 with seven Continue reading

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Levels of Products or Product Hierarchy

In planning market offering, the marketer needs to think through five levels of the product, each level adds more customer value, and the five levels constitute a customer value hierarchy. Each product is related to certain other products. The product hierarchy stretches from basic needs to particular items that satisfy those needs. Core Product – The most fundamental level is the core benefit. It is the fundamental benefit or service the customer is really buying. Marketers see themselves as benefit providers. E.g. A hotel guest is buying rest and sleep. Generic/Basic Product – At the second level the, marketer has to turn the core benefit into basic product. In this the hotel room includes a bed, bathroom, towel desk, dresser and closet. Expected Product – At the third level the marketer prepares an expected product a set of attributes and conditions that buyers normally expect and agree to when they Continue reading

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Retail Store’s Front Design Considerations

A retail store’s front is the first impression that consumer has for a store.  Three components make up retail store’s front namely, front configurations, window displays and store’s entrances. 1. The Store-front Configuration There are three possible front configurations namely, Straight front Angled front and Arcade front. The “straight front” is a store configuration that runs parallel to the side-walk, street, mall or a parking lot. Usually the only break in the front is a small recess for an entrance. This store front design is operationally efficient because it does not reduce the interior selling space. However, it lacks consumer appeal because it is monotonous and less attractive than either of the other configurations. Window shoppers can inspect only a small part of any display from anyone position when retailers use the straight configuration. Another limitation is that reflective glare from windows can inhibit window-shopping, while heavy foot traffic and Continue reading

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