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

Introduction to Value Added Tax (VAT)

Value Added Tax or VAT is a broad-based commodity tax that is levied at multiple stages of production. The concept is akin to excise duty paid by the manufacturer who, in turn, claims a credit on input taxes paid. Excise duty is on manufacture, while VAT is on sale and both work in the same manner, according to the white paper on VAT released by finance minister Chidambaram. The document was drawn up after all states, barring UP, were prepared to implement VAT from April.   It is usually intended to be a tax on consumption, hence the provision of a mechanism enabling producers to offset the tax they have paid on their inputs against that charged on their sales of goods and services.   Under VAT revenue is collected throughout the production process without distorting any production decisions. VAT will replace the present sales tax in India. Under the Continue reading

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Case Study of Starbucks: An Amazing Business Success Story

American coffee consumption had been on the decline for more than a decade when Seattle entrepreneurs Jerry Baldwin, Gordon Bowker, and Zev Siegl opened the first Starbucks in Seattle’s Pike Place Market in 1971. By the 1970s, the country’s major coffee brands were engaged in a bitter price war that forced them to use cheaper beans in their blends to reduce costs, resulting in a dramatic decline in the quality of America’s most popular coffees. Accompanying this decline in quality was a decline in coffee consumption, which had peaked at 3.1 cups per day in 1961. As Americans gradually became disenchanted with the store brands, java enthusiasts–concentrated primarily on the West Coast–began experimenting with the finer coffees of Europe that offered richer, fuller flavors. To harness the potential of the gourmet coffee trend in the Seattle area, the founders of Starbucks experimented with the new concept of a store dedicated Continue reading

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Common Characteristics of Effective Leaders

Actually, “characteristics of a good leader” is a hot and interested topic in management areas. No matter it is global leadership, corporate leadership or even a team leadership, the basic traits of a good leader are necessary and ordinary. Some additional positive characteristics may be required, just depending on their field of work or circumstance. Firstly, the essential characteristic of a good leader is self leadership, it is one of the essential characteristics and also is probably the most important characteristic of an efficient leader. It indicates that when a leader guides himself towards excellence, he will able to lead his followers on the same time as well. Beside that is personal leadership, personal leadership is the desire of one to take charge of his own life. Personal leadership is also about always becoming a good follower of his own principles. It is motivational leadership and all leaders must have. Continue reading

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Real Options Method in Capital Budgeting

Real options method is one of the investment appraisal techniques for capital budgeting which can deal with the limitations of the Net Present Value (NPV) method. Real options method is a method of evaluating and managing strategic investments decisions in an uncertain business environment. Using real option methods has been recognized that the application of standard NPV techniques can lead to wrong conclusions in the presence of unrecognized embedded options. The central role of NPV techniques in financial decision making therefore makes it imperative that real option structures in investing opportunities are identified and accounted for. It turns out that real options can be found in most live environments where uncertainty or risk, waiting, investment irreversibility, growth opportunity, asymmetric information, staged investments, competitor response, economies of scale, project switching, suspension, abandonment and start-up are important. In fact, these include the full spectrum of investment decision making, including those concerning capital Continue reading

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Uses of Job Analysis in Human Resource Management (HRM)

Job analysis is understood as the analysis of job-related activities in the organization. Job analysis collects and analyses the information related to jobs and various aspects of jobs. It is performed upon ongoing jobs only which contain job contents and the skill requirement to perform the specific task. It involves a formal study of jobs which is essential in determining the duties and the nature of the jobs in the organization. Job analysis is a very important function of HR, which is related with many activities of Human Resource Management (HRM). Theoretically speaking, job design, job analysis, job descriptions and job specifications and are all around “work” to be, but from the company’s current situation, the design work than not to change, the only way is indeed feasible that using job analysis to evaluate the value of work position, even reasonable analysis can achieve job enrichment and purposes of diversification. Continue reading

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Strategic Innovation in Human Resource Management

Businesses can recapture the innovative spirit that initially launched their success. It has been done in companies old and new, big and small, and in just about every industry you can imagine. Each case is different, but there are three common threads. First, corporate leaders recognized the intellectual capital and potential that resided within their own employees. Second, they turned to the Human Resources Department to find the key to unlocking that potential and putting that capital to work. Third, the company reaped tremendous rewards in terms of productivity and profitability as a result. What is common to each strand of this process is the importance of HR departments to the process of strategic innovation. Ideas are the lifeblood of business success. Most of today’s corporate giants began with little more than a great idea and an entrepreneurial gleam in their eye. They leveraged their intellectual capital to build financial Continue reading

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