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

Gartner Competency Model – Customer Relationship Management (CRM) Model

Customer relationship management is a strategy of every organization which is made by the companies and the business to maintain the performance and the position of a company. Customer relationship management is a model which could be defined as technology, strategy and practice that is used by various organizations to develop and manage the customer data and customer interactions so that a good relationship could be managed. These strategies helps the company to maintain the relationship with the customers and also help the company to make loyal customers, indirectly these strategies help the company to enhance the turnover and grab more market share. It also helps a company to retain the customers. Customer relationship model is an approach that assists the company to manage the customers. CRM model helps a company to build and develop a good relationship with the customers. Basically, a CRM model is known as an “opportunity for business” Continue reading

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Logistics Planning Process

To match the changing environment in the logistics due to the changes in the markets, competitors, suppliers and technology, there is a need for a systematic planning and design methodology to formally include the relevant consideration and effectively evaluate the alternatives. Read More: The Concept of Logistics Planning The logistics relational and operating environment is constantly changing. Even for the established industries, a firm’s markets, demands, costs and service requirements change rapidly in response to the customer and competitive behavior. Just as no ideal logistical system is suitable for all enterprises the method for identifying and evaluating alternative logistics strategies can vary extensively. However there is a general process applicable to most logistics design and analysis situations. The  logistics planning process  can be segmented into three phases: problem definition and planning, data collection and analysis, and recommendations and implementation.The following discussion describes each phase and illustrates the types of issues Continue reading

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Government Accounting – Meaning, Objectives and Features

Accounting is concerned with the processing of financial transactions of an entity. It generates and communicates necessary financial information to its users. It is, therefore, a process of recording, classifying and summarizing the financial transactions and communicating the results of its operations. There are different branches of accounting. One of its branches is government accounting. Government accounting is that branch of accounting, which is used in government institution. The government accounting is different from other branches of accounting such as commercial accounting. The accounting system used in government offices to record and report their financial transactions is known as government accounting. Government accounting is concerned with systematic and scientific recording of government revenues and expenditures. It is the systematic process of collecting, recording, classifying, summarizing and interpreting the financial transactions relating to the revenues and expenditures of government offices. It reveals how public funds have been generated and utilized for the Continue reading

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Decision Making Units (DMUs) in Industrial Marketing

It is essential to understand the roles of buying-center members or Decision Making Units (DMUs) before identifying the individuals and groups involved in  the buying-decision process. It is helpful to the industrial marketers to develop  an effective promotion strategy. The roles of buying center members are as  follows: Initiators:  The initiators might be any individuals in the buying firm. Often, the users of a  product/service play the role of the initiators. Buyers:  The major roles of buyers are obtaining quotations (or offers) from suppliers,  supplier evaluation and selection, negotiation, processing purchase orders, speed  up deliveries, and implementing purchasing policies of the organization.  Generally, they are the purchase (or material) officers and executives. Users:  The user is those individuals who use the product or service that is to be  purchased. Generally, users play the role of the initiators. The influence of the  users in purchasing decisions may vary from minor to Continue reading

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Guidance in Management

The Concept of  Guidance Guidance in management  can be defined as: – “The act or process of guiding” or “The one who shows the way by leading, directing, or advising. “ or “The one who serves as a model for others, as in a course of conduct.” Good manager guide their employees to continually learn new skills and work toward organizational goals, while being sensitive to their needs. This kind of guidance gives employees a vested interest in their organization, which will affect the quality of their work. The good manager is a leader, not an order giver. When a manager tells an employee what he want done, instead of giving an order, the manager give their employees the freedom to come up with their best way of getting that task done. It may not always be the best way, and the manager may have to do some monitoring and Continue reading

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Concepts of Job Description and Job Specification

Job Analysis is the systematic process of collecting and making judgments about all the important information related to a job. Job Analysis is the procedure through which one determines the duties and nature of the jobs. It also determines the kinds of people who should be hired for those jobs. General purpose of job Analysis is to document the requirements of a job and the work performed. Moreover job Analysis is fundamental to the preparation of job specification and description. Job Description Job description is a broad statement of the purpose, duties and responsibilities of a job or position. A job description is based on a detailed job analysis and usually summarizes the essential information gathered through job analysis. It describes the main tasks and responsibilities of the job clearly and concisely in order to facilitate the systematic comparison of jobs for evaluation purposes. The kind of information and amount Continue reading

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