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

Case Study of LG Electronics: Repositioning a Successful Brand

LG Electronics is the largest player in the consumer electronics market in India, which is worth Rs 35,000 crore per annum. And now it feels the need to take the brand to the next level. From an aggressive price warrior and technology provider, the brand will henceforth be communicated as a youthful enabler of life enrichment,  and of value-added products. For almost 10 years after it came to the country in 1997, LG had focused on the mass market. Initially LG’s objective was to create a footprint among the sizeable middle class, and other than its aggressive pricing, there was little to distinguish it from other consumer durable companies operating in India. Its product range choices also reflected the portfolio of its then rivals such as Whirlpool, Videocon, and Onida. Changing profile of Indian consumer durables market The Indian consumer durables market of today is very different, redefined primarily by Continue reading

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The Concept of Office Automation

Office automation refers to the varied computer machinery and software used to digitally create, collect, store, manipulate, and relay office information needed for accomplishing basic tasks and goals. Raw data storage, electronic transfer, and the management of electronic business information comprise the basic activities of an office automation system. Office Automation helps in optimize or automate existing office procedures. Such systems can increase the productivity of managerial end users and other professional and staff personnel by significantly reducing the time and effort needed to produce, access and receive business communications. The backbone of office automation is a LAN, which allows users to transmit data, mail and even voice across the network. All office functions, including dictation, typing, filing, copying, fax, telex, microfilm and records management, telephone and telephone switchboard operations, fall into this category. Office automation was a popular term in the 1970s and 1980s as the desktop computer exploded Continue reading

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Dividend Investing

For those who are still considered greenhorns in the investment world, a dividend is the payment distributed by a company to all its shareholders. For the longest time, dividend investing has been a permanent fixture in wealth building and wealth management programs because of the kind of financial security it provides. An investor and expert financial planner earns in divided investments through dividend payments, which forms part of a company’s profit. The other profit portion not distributed to the investors will be pumped back into the capitalization used to fuel the operation of the company. Most wealth management and wealth building programs include dividend investing. To place investments strategically, a professional financial planner would be necessary. One who deals with dividend investing would need the expertise provided by a financial planner when playing with the rise and fall of share prices. With dividend investing as part of an individual’s wealth Continue reading

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Strategic Planning in the Industrial Market

While the basic principles of marketing planning apply in both markets, many  organizations have found that what works well in the consumer market fails to  do so in the industrial market. Two significant differences between these  markets appear to account for this phenomenon.  First, unlike the consumer market where products are normally’ marketed  through one or two channels, most industrial marketers face diverse markets that  must be reached through a multiplicity of channels-each requiring a different  marketing approach. A producer of communication equipment, for instance,  may market to such diverse segments as the commercial, institutional, and  governmental market, each of which will require a unique marketing plan. Second, in contrast to consumer marketing, successful industrial marketing  strategy depends more on other functional areas. Where the elements of  planning in consumer marketing can often be contained within specific areas of  marketing, such as advertising, selling, and product management, planning in  the Continue reading

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Types of Packing Credit (Pre-Shipment Credit)

Packing Credit is a pre-shipment credit extended to the exporters to facilitate him for meeting several financial requirements such as purchase of raw materials and its processing, packing, storing and shipping of goods. It is a short term credit available to all exporters. Hence, this is called pre-shipment credit which is essentially working capital finance made available to the exporters to arrange for goods as per the export. It is generally granted in the form of loans or cash credits. It may also be granted in the form of overdraft facilities. The exporter who wants to avail the pre-shipment credit facility should make a formal application to his bank along with the firm contract with the buyer or a copy of the export order or a copy of the letter of credit. Major  Types of Packing Credit Pre-shipment finance is available in various forms. Important types of packing credit are Continue reading

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Why Competition may Sometimes be Helpful?

Market structures refer to a total number of businesses in the market, their share and extent of competition in those businesses. Competition is a crucial aspect which cannot be overlooked in business. This is because human needs are many but resources for satisfying them are limited. As a result, firms have to compete to ensure they provide required services at certain cost. The major objective to operate a successful business is to earn a profit. In this process, resources are deployed to generate profits and thus businesses have to allocate resources strategically to ensure maximum benefits are achieved. In some business models, competition is steep while in others, they serve as a monopoly. Monopoly markets exist where there is no competition from the outside. The business operates solely in the market and thus they can control the flow of goods and services. To prevent customer exploitation, the government has to Continue reading

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