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

The Role of Celebrity Endorsements in Public Relations Campaigns

Businesses and entrepreneurs who use celebrities to endorse there products are elevated into another category.   The celebrity pitch is a tried and tested advertising strategy that has stood the test of time.  The advantages are that celebrity adds personalities and characteristics to a brand that will raise awareness and product adoption.According to American Public Opinion Survey and Market Research, 72 % of customers who bought a product backed by a celebrity said that it was the famous face of the endorser who first grabbed their attention. If successful, the use of celebrity endorsers can contribute to adding significant value to a product.  Today, more than ever before, the public has a hunger for celebrity information. The cult of the celebrity is more powerful than at any time in history and the marketing potential of this is enormous, especially if you can connect a product and a celebrity to a Continue reading

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Steps in Conducting a Foreign Market Analysis

International businesses have the fundamental goals of expanding market share, revenues, and profits. They often achieve these goals by entering new markets or by introducing new products into markets in which they already have a presence. A firm’s ability to do this effectively hinges on its developing a through understanding of a given geographical or product market. To successfully increase market share, revenue, and profits, firms must normally follow three steps, Assess alternative markets Evaluate the respective costs, benefits, and risks of entering each, and Select those that hold the most potential for entry or expansion. 1. Assessing Alternative Foreign Markets In assessing alternative foreign market a firm must consider a variety of factor including the current and potential sizes of the markets, the levels of competition the firm will face, their legal and political environment, and socio-cultural   factors that may affect the firm’s operations and performance. Information about Continue reading

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Types of Marine Insurance Policies

Marine insurance is a contract by which the insurer, in consideration of payment by the insured of a specified premium determined under tariff rates or otherwise, agree to indemnify the latter against any loss incurred by him in respect of the merchandise exposed to the perils of the sea or to the particular perils insured against. In a c.i.f. contract, marine insurance is obligatory, and the policy must be one which is usual in the trade and is in a negotiable form. The policy must be stamped  and bear a date not later than that of the bill of lading; and if the export is under a letter of credit, it must conform to the terms and conditions laid down in it. Types of Marine Insurance Policies 1. Single Cargo Risk / Open or Blanket Policy A marine insurance policy may be a “single cargo risk” policy, i.e., a policy Continue reading

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Cloud Computing Service Models

In practice, cloud service providers tend to offer services (ie. Cloud Computing Service Models)  that can be grouped into three categories: software as a service (SaaS), platform as a service (PaaS), and infrastructure as a service (Iaas). 1. Software as a service (SaaS) Software as a service (SaaS)  is software that is developed and hosted by the SaaS vendor and which the end user accesses over the Internet. Unlike traditional applications that users install on their computers or servers, SaaS software is owned by the vendor and runs on computers in the vendor’s data center (or a collocation facility). A single instance of the software runs on the cloud and services multiple end users or client organizations. Broadly speaking, all customers of a SaaS vendor use the same software: these are one-size-fits-all solutions. Well known examples are Salesforce.com, Google’s Gmail and Apps, instant messaging from AOL, Yahoo and Google, and Continue reading

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Guide to the Development of Research Questionnaires

The process of questionnaire development is divided into three phases, (1) Designing or making (2) Issuing (3) Returning. While designing a research questionnaire, attention should be paid to three important matters; Appearance of the questionnaire, Contents of questionnaire, and Subject-matter. Design of Questionnaire To design a good research questionnaire certain steps are needed. These are : Consult   colleagues, friends & acquaintances to get their thinking on the problem. Formulation of such a list of areas and questions. Submit this list to experts both in the field of problem and related fields. Drafting the questionnaire (first stage). Pre-testing the questionnaire. Re-examination and revising the questionnaire (second stage). Physical Appearance of the Questionnaire Special attention should be paid in order to give a good physical appearance to the research questionnaire so as to get good response from the respondent. Matters requiring special attention include quality and size of paper, type of Continue reading

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Knowledge – Definition and Types

Knowledge is a very slippery concept with many different variations and definitions, each of which is valid in its own right. The nature of knowledge and what it means to know something are epistemological questions that have perplexed philosophers for centuries and no resolution looms on the horizon. According to Webster’s Dictionary, knowledge is “the fact or condition of knowing something with familiarity gained through experience or association”. In practice, though, there are many possible, equally plausible definitions of knowledge. A frequently used definition of knowledge is “the ideas or understandings which an entity possesses that are used to take effective action to achieve the entity’s goal(s). This knowledge is specific to the entity which created it.” There are two basic kinds of knowledge in an Organization: Explicit and Tacit. Explicit knowledge is knowledge that has been articulated and, more often than not, captured in the form of text, tables, Continue reading

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