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

Current Trends in Human Resource Management

The world of work is rapidly changing. As a part of organization,  Human Resource Management (HRM) must be prepared to deal with effects of changing world of work. For the HR people it means understanding the implications of globalization, work-force diversity, changing skill requirements, corporate downsizing, continuous improvement initiatives, re-engineering, the contingent work force, decentralized work sites and employee involvement.   Let us consider each of them one by one. 1. Globalization and its implications Business today doesn’t have national boundaries – it reaches around the world. The rise of multinational corporations places new requirements on human resource managers. The HR department needs to ensure   that the appropriate mix of employees in terms of knowledge, skills and cultural adaptability is available to handle global assignments.   In order to meet this goal, the organizations must train individuals to meet the challenges of globalization. The employees must have working knowledge Continue reading

Abey Francis

Kaizen and Kanban in Lean Manufacturing

Kaizen Kaizen is broadly interpreted as the Japanese term for continuous improvement, although it is perhaps more accurately translated as a form of control.   It applies to all aspects of organisational output, and can thus be linked to both Toyota Production System (TPS) and types of waste, as well as the means of introducing and managing basic employee working conditions.   One of the most popular tools of Kaizen is a Kanban, which of itself translates to differing types of organisational process control, which collectively lead to greater organisational production efficiency. The overarching principle of Kaizen, and Kanban within that, is to create a ‘pull through’ organisational process, as opposed to push through. Historically, for many manufacturing organisations, understandably, they would place the manufacturing process itself at the heart of operations, and would strive to make this element as efficient as possible working towards metrics such as overall equipment Continue reading

Abey Francis

Indian banking system: Development banks: National Bank of Agriculture and Rural Development (NABARD)

National Bank of Agriculture and Rural Development (NABARD) was set up on July 12, 1982 under Act of parliament as a central or apex institutions for financing agricultural and rural sectors. National Bank for Agriculture and Rural Development (NABARD) is an apex development bank in India. It has been accredited with “matters concerning policy, planning and operations in the field of credit for agriculture and other economic activities in rural areas in India”. NABARD was established by an act of Parliament on 12 July 1982 to implement the National Bank for Agriculture and Rural Development Act 1981. It replaced the Agricultural Credit Department (ACD) and Rural Planning and Credit Cell (RPCC) of Reserve Bank of India and Agricultural Refinance and Development Corporation (ARDC). It is one of the premiere agencies to provide credit in rural areas. NABARD is set up as an apex Development Bank with a mandate for facilitating Continue reading

Abey Francis

Quality Standards For Exports

In almost all the products, for which the pre-shipment inspection scheme has been introduced, great care has been taken to accept the buyer’s requirements, wherever known, as the basis of inspection. In many cases, where the buyer’s requirements are known through-an approved sample of, for example, footwear or handicrafts, inspection is carried out on the basis of the approved sample. However, for items involving safety, such as cables and conductors, only the national standards, either Indian or those of the importing country, have been adopted. In the case of commodities involving health hazard, such as fish and fishery products, statutory laws as applicable in the importing country for these products, are adhered to. This particular approach has been found to be extremely practical and has helped the exporters to maintain the quality of their products. For adopting or establishing technical specifications, detailed discussions are held with the trade and industry Continue reading

Abey Francis

Theories of Motivation: McGregor’s Theory X and Theory Y

Douglas McGregor who set forth in his book “Human Side of Enterprise” two pairs of assumptions about human beings which he thought were implied by the actions of autocratic and permissive managers. The first set of assumptions is contained in “Theory X” and the second set of assumptions in “Theory Y”. It is important to note that these sets of assumptions were not based on any research, but is intuitive deductions. Theory X: Theory X’ believes that autocratic managers often make the following assumptions about their subordinates. Accordingly, the subordinate in general: Has an inherent dislike for work and will avoid it, if he can; Is lazy and avoids responsibility. Is indifferent to organisational goals; and Prefers to be directed, wishes to avoid responsibility, has relatively little ambition and wants security above all. According to McGregor, this is a traditional theory of what workers are like and what management must Continue reading

Abey Francis

Global Strategic Rivalry Theory of International Trade

The Global Strategic Rivalry Theory of international trade was developed in the 1980s by such economists as Paul Krugman and Kevin Lancaster as a means to ‘examine the impact on trade flows arising from global strategic rivalry between Multi-National Corporations.’ It explores the notion that in order to stay viable, firms should exploit their competitive advantage globally and try to keep it sustainable. According to this view, firms struggle to develop some sustainable competitive advantage, which they can then exploit to dominate the global marketplace. Like Linder’s approach, global strategic rivalry theory predicts that intraindustry trade will be commonplace. It focuses, however, on strategic decisions that firms adopt as they compete internationally. These decisions   affect both international trade and international investment. Companies such as Caterpillar and Komatsu, Unilever and Protect & Gamble, and Toyota and Ford continually play cat-mouse games with one another on a global basis as they Continue reading

Abey Francis