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

Ethical Behavior in Business

Ethics in business is not a new trend. In fact, it is already present for over four thousand years now. With the changing trends in the business world, the society is getting more concerned about the corporate responsibility of businesses. Debates have also been conducted focusing on the social issue of poverty among the workers and the corresponding responsibility of the employers about the issue. Even in the ancient times, issues on ethics in business can be observed just like in the teachings of Aristotle about the harmful effects of the gaps that exist between the economical utilization of goods and the profit making objective of many merchants. At present, the rise of the concept of corporate social responsibility among the business sector constitutes corporate initiatives of integrating several ethical aspects such as establishment of codes of conduct, environment management system measures, health and safety in the workplace, compliance to Continue reading

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Case Study: The Story of Warren Buffett

Warren Edward Buffett, born August 30, 1930 is a U.S. investor, and philanthropist. He is one of the most eminent investors in chronicle, the basic shareholder and chief executive officer of Berkshire Hathaway and in 2008 was ordered by Forbes as the 2nd most robust person in the world on an approximated net worth of around $62 billion. Buffett is often called the “Oracle of Omaha” or the “Sage of Omaha’ and is noted for his adhesiveness to the value investing philosophy and for his own frugalness in spite of his huge riches. Buffett is also a famed altruist, having engaged to impart 85 percentage of his fate to the Gates cornerstone. He as well assists as a appendage of the board of trustees at Grinnell College. In 1999, Buffett personified described as the greatest money manager of the twentieth century in a survey by the Carson Group, leading Peter Continue reading

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Common Export Documents – Export Invoice

An export invoice is the basic document which gives full details of the contents of the shipment and serves as seller‘s bill of goods and sets out the terms of sale. An invoice  usually means a Commercial invoice. An exporter must prepare this document which will fully identify the overseas shipment and serve as a basis for the preparation of all other documents. There is no standard form for an export invoice and it is the exporter’s choice to design his own form. The invoice is prepared for the buyer abroad. Any special requirement of the importer must be duly complied with. The following are the essential details which should be available in the export invoice: Name and address of the exporter Invoice number and date Buyer’s and Seller’s Order numbers Name and address of the overseas customer Name of the vessel and sailing date Unit price and total value Continue reading

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Advantages of Rolling Settlement

Rolling settlement system replaced the badla system from July 2, 2001. On July 2, 2001, 215 scrips were brought under the riling systems, bringing the total to 414 scrips. By January 2, 2002 all scrips were brought under compulsory rolling mode. Internationally most developed countries follow a T+3 cycle and are aiming to move to a T+1 cycle (next day settlement) or a T+0 cycle where trades are settled on the day they are executed (same evening settlement). This is system of T+0 is prevalent in Switzerland and volumes are phenomenal when compared to the T+3 system. Indian stock markets moved to the T+3 system from April 2002, in line with the recommendations of the “Group of Thirty” which suggested it as minimum international standard. The rolling settlement has many advantages. One, it reduces speculation and arbitrage in scrips as settlement occurs on a daily basis. Thus, there would be Continue reading

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Types of Unemployment

The population of an economy is divided into two categories, the economically active and the economically inactive. The economically active population (labor  force) or working population refers to the  population that is willing and able to work, including those actively engaged in the  production of  goods and  services (employed)  and those  who are  unemployed. Whereas,  unemployed refers to people who are willing and a capable of work but are unable to find suitable paid employment.  The next category, the economically inactive population refers to people who are neither  working nor looking for jobs. Examples include housewives, full time students, invalids,those below the legal age for work, old and retired persons. Unemployment is of different types. The important types of unemployment are: Structural unemployment: This is a type of unemployment caused mainly by the change in the development strategy adopted by an economy. For example, suppose a country basically agricultural in Continue reading

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Traditional Methods of Performance Appraisal

Performance appraisal has been considered as a most significant and  indispensable tool for an organization, for the information it provides highly  useful in making decisions regarding various personal aspects at work place.  The performance appraisal activity is very much sensitive. It leads to very  positive side, if the system operated in a very systematic manner. The same  system also leads to destruction of the entire work lance, if proper care had not  been taken in the process of performance appraisal system. Traditional Methods of Performance Appraisal Traditional methods of performance appraisal  lay emphasis on the rating of the individual’s  personality traits, such as initiative, dependability, drive, creativity, integrity,  intelligence, leadership potential and so on. 1. Rankings Method It is the oldest and simplest method of performance  appraisal, by which the man and his performance are considered as an entity by  the rater. No attempt is made to fractionalize the ratee Continue reading

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