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

Organizational Culture – Development and Importance

Management Principles

Why Do Organizations Have a Code of Ethics?

Business ethics are the guidelines a company has in place to follow when interacting with internal and external sources, with the purpose being to impact the way in which they do business. It also means that all professionals will be held to the same standard, as it’s something the organisation’s core values and principles are based on. It is beneficial to ensure that everyone involved are treated with respect, and to create a working environment that’s as positive as possible. By having a code of ethics, a business is presenting themselves as having a unified attitude and would be seen as behaving with integrity. Businesses adopting a code of ethics will create a stronger environment of trust and integrity within the workplace. It is helpful when all employees, including management, are following the same rules and behaving in a certain way because it means most conflicts will be removed from Continue reading

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Major Differences Between B2B and B2C

Marketing includes those business activities in the flow of goods and services from production to consumption. Goods and services are of two types; consumer and industrial. Firstly, it is important to define the primary difference between Business to Business (B2B) Marketing and Business to Consumer (B2C) Marketing. Both markets are types of commercial transactions, however, simply put, business to consumer (B2C) is the process of selling products directly to consumers and industrial/business to business (B2B) is the process of selling products or services to other businesses. However, the differences between both business systems are much more complex than their simple definitions, so are their similarities. Obviously, both B2B and B2C markets have one fundamental difference: the type of customer. However, this article is going to investigate these markets further, discussing the similarities and differences between their market’s structure, marketing practices and buying behaviour within the industry. Market Structure One key Continue reading

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Basic Principles for Measuring Project Cash Flows

Estimating cash flows — the investment outlays and the cash inflows after the project is commissioned — is the most important, but also the most difficult step in capital budgeting. Estimating cash flows process involves many people and numerous variables. A project which involves cash outflows followed by cash inflows comprises of three basic components. They are, Initial investment: Initial investment is the after-tax cash outlay on capital expenditure and net working capital when the project is set up. Operating cash inflows: The operating cash inflows are the after-tax cash inflows resulting from the operations of the project during its economic life. Terminal cash inflow: The terminal cash inflow is the after-tax cash flow resulting from the liquidation of the project at the end of its economic life. For developing the stream of financial costs and benefits, the following principles must  be kept in mind: 1. Principle of Incremental Cash Continue reading

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Innovation Theories: Bottom of the Pyramid and Dominant Design

The use of innovation for sustaining businesses have been in time since the advent of businesses themselves. The ability to exploit technological developments in order to solve real problems bring about value to the people using the businesses’ products or services. The value created by a business is the result of proper innovation taking place in a multi-faceted fashion in the spheres of technology and business administration. Hence, innovation theories are a concept to extensively address and analyze real world problems to get the most valuable benefit whilst the solving the problem. Creativity lies the in heart of innovation and it is a critical ingredient that catalyzes the process of value generation via the services and products of the business. Different innovation theories have been coined and discussed globally by businesses to strategically place their products or services in a way that helps their clients or customers the most. This Continue reading

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Industry Analysis and Investment Decision

An investor must examine the industry in which a company operates because this can have a tremendous effect on its results, and even its existence. A company’s management may be superior, its balance sheet strong and its reputation enviable. However, the company may not have diversified and the industry within which it operates may be in a depression. This can result in a tremendous decline in revenues and even threaten the viability of the company. The first step in industry analysis is to determine the cycle it is in, or the stage of maturity of the industry. All industries evolve through the following stages: The Entrepreneurial or Nascent Stage: At the first stage, the industry is new and it can take some time for it to properly establish itself. In the early days, it may actually make losses. At this time there may also not be many companies in the Continue reading

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Rights, Duties and Responsibilities of an Agent to his Principal

Section 182 of the contract act defines, “An agent is a person employed to do any act for another or to represent another in dealings with third persons. The person for whom such act is done, or who is represented, is called the principal”. The function of an agent is essentially to bring about contractual relations between the principal and third parties. An agent has certain rights, duties and liabilities towards the principal and third parties depending upon the nature of business. These rights, duties and liabilities can be generated as:- Rights of an Agent i) Right to Receive Remuneration — The agent is entitled to receive an agreed remuneration or reasonable remuneration unless otherwise agreed upon. An agent has a right to claim his remuneration on completion of his work, even if the contract never materializes on account of breach. But, if an agent is found guilty of misconduct Continue reading

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