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

Social Entrepreneurship in India

Social entrepreneurship as the concept was coined long ago but has been in the corporate parlance in just the recent past. Traditionally, entrepreneurship has been associated with profit making individuals who aim high and achieve a lot for themselves in the world of tough competition. And the success of enterprise was and is being judged on parameter like return on investment and net income margins. But, with the empowerment and awareness of the citizens of the developing world, a new revolution has started, particularly among the youth of the world. This revolution is the growth of Social Entrepreneurship – the form of entrepreneurship where profits are not the end result, but just the means to achieve the end result of social upliftment and further empowerment. Social entrepreneurs play the role of change agents in the social sector by adopting a mission to create and sustain social value, by recognizing and Continue reading

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Development of Human Resources in an Organization

Human resource development (HRD) is a sub-system that operated in the main system; the organization. In order for the organization to be successful the objectives and goals of the subsystems must be aligned towards achieving the set goals of the main system. For example, the primary objective of the organization would be to maximize return on shareholder investment. We may find that the objectives of training and development would be a level removed down, that is to maximize the capabilities of the employees, induce innovation, and produce high quality products and service. They may be different but a closer look at each of these objectives reveals that they serve a singular purpose; maximize the return. HRD and Motivation Motivation is certainly the key for the people to keep returning to the job. However it must not be viewed through a single window which shows you that rewards and bonuses makes Continue reading

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Role of Social Responsibility in Managing Stakeholder Relationships

Why do companies feel social responsibility is so important in running a business? Social responsibility is defined as volunteering to manage the company’s operations and what they do with stakeholders to have a good impact on the community where the company works. Companies have many responsibilities and one of them is helping out the community to show that the company cares about other things besides making a great profit. Social responsibility increases company’s reputations and makes the company look good, and these companies get rewarded with customer satisfaction. If these companies show poor social responsibility it can ruin revenue and stakeholders may go to another company. Social responsibility is very important because it shows that companies can treat customers, employees and investors fairly. One example of social responsibility is when a car manufacturer doesn’t put a stop on a bad product. First the car manufacturer claimed that it was not Continue reading

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Objectives of Management Control Systems

Control is an important function of management. Without control, a manager cannot “do a complete job of managing”. All other management functions are the preparatory steps for getting the work done and controlling is concerned with making sure that there is proper execution of these functions. Control is necessary whenever a manager assigns duties and delegates authority to a subordinate. He must exercise control over the actions of his subordinates so that he can ensure that the delegated authority is being used properly. Objectives of Management Control A sound control system is needed for the following purposes: 1. To measure progress. Under the planning process the fundamental goals and objectives of the organization are established. The control process is necessary to measure progress towards these goals. According to Henry Fayol, “Control consists in verifying whether everything occurs in conformity with the plan adopted, the instructions issued and the principles established.” Continue reading

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Use of Return on Investment (ROI) to Assess the Performance of Organizations

Analysis of financial statements has being part of the bed rock of finance itself. For publicly traded companies, the greater level of participation by the general publics and sometimes global stakeholders has meant comprehensive assessments are done on their financial statements. Some of the basic reasons for the assessment of the financial statement of companies include the evaluation of current operations, compare the current performance with past performance, make comparison against other firms and industry standards, study the effectiveness and efficiency of operations and the level of efficiency in the utilization of resources. The rationale behind the assessment of a firm’s financial statement is such that a firm has being given resources; it is supposed to convert those resources into profit through the production of goods and the provision of services. Accounting ratios are meant to measure the relationships between resources and financial flows to show ways in which the Continue reading

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Case Study: L’Oreal Global Branding Strategy

The L’Oreal group has been the market leader of cosmetics and the beauty industry. The products it mainly sales are in the fields of cosmetics including, hair color, makeup products, skin care products, perfumes etc. Company has also launched its several products in the field of dermatology and pharmacy. The sales and profits are maintained through its wide range of professional consumer luxury and active products showing a strong through it. It was founded in 1909 by Eugene Schueller and soon it grown into world’s largest company in the industry. The turnover of the company has grown over 19 billions euro’s with over 11 percent of growth which considerably indicates the success of marketing strategies of L’Oreal group. The company market over 70 international brands along with a number of local brands made specifically for the country it is marketing with the same international standards and flexibility according to the Continue reading

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