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

Brand Tribalism – Consumer Tribal Behavior on Brand Loyalty

Concept of Brand Tribalism A brand tribe can be defined as a social network of varied persons – who are linked by a shared belief around a brand; its members are not simple consumers, they are also believers and promoters. A brand tribe does collective action and therefore it is implicated as post-modern business. The emergence of brand tribalism represents tribal consumption’s. Brand tribalism emerges because there is a group of consumers who adore this brand emotionally connected by some values and usage of consumption, using the social “linking value” of products and services to create a community and express identity. The phenomena of tribes can be presented as an expression of both self and social identity. Consumer social identities and consumption choices shift depending on situational and lifestyle factors. So, the phenomena of Brand tribalism can also be understood and accessed through their shared beliefs, ideas and consumption. Due Continue reading

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Survey Feedback as an Organizational Development Tool

The study of Survey Feedback played an important role in formation and history of Organizational Development (OD). Developed as an  organization wide intervention by Mann and his associates (1957-1965), survey feedback is a  process in which organizational members complete questionnaires on various organizational issues, receive feedback on the results, then take appropriate actions to address the critical needs and concerns. Though some type of survey method was prevalent in various organizations earlier, Institute for Social Research (ISR) of University of Michigan, USA developed a comprehensive questionnaire for conducting survey in different aspects of an organization. The basic objectives of survey feedback method are as follows: To assist the organization in diagnosing its problems and developing action plan for problem-solving. To assist the group members to improve the relationships through discussion of common problems. Process of Survey Feedback Survey feedback method usually proceeds with sequential activities involving data collection, feedback of Continue reading

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The Process of Diversification of Investment Portfolio

The process of diversification  of investment portfolio has various phases involving investment into various classes of assets like equity shares, preference shares, money market instruments like commercial paper, inter-corporate investments, certificate of deposits etc. Within each class of assets, there is further possibility of diversification into various industries, different companies etc. The proportion of funds invested into various classes of assets, instruments, industries and companies would depend upon the objectives of investor, under portfolio management and his asset preferences, income and asset requirements. A portfolio with the objective of regular income would invest a proportion of funds in bonds, debentures and fixed deposits. For such investment, duration of the life of the bond/debenture, quality of the asset as judged by the credit rating and the expected yield are the relevant variables. Bond market is not well developed in India but debentures, partly or fully convertible into equity are in good Continue reading

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Creative and Innovative Culture in Modern Organizations

Organizational Culture is an outcome of cultural processes at work in a particular setting and focuses on people and the shared meaning within them. An organization with a strong culture may find it difficult to adapt with changes. If they want to bring a culture of creativity then the organization may find it hard to cope with it. A strong culture will have people with commonalities and may lack diversity which is essential in generating new and different ideas. However, subcultures can exist in such organization with strong culture which may bring creativity as a result of diversity. Such divisions are responsible for giving a different option or a direction to the organization which can result to new frontiers. Diversity is an integral element of an organization’s culture. A manager has to be aware of the differences that exist among various employees working in the organization. People in an organization Continue reading

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Profit Planning and Forecasting in Business

A business is considered to be sound if it includes consistency in earning profit while considering the various risks as well. A firm is faced with a number of uncertainties. These uncertainties are in terms of nature of consumer needs, the diverse nature of competition, the uncontrollable nature of most elements of cost and the continuous technological developments. The uncertainty about the pattern and extent of consumer demand for a particular product increases the degree of risk faced by the firm. The nature of competition is related to either product, price or to both simultaneously. Product competition is more important till the product reaches the stage of maturity. Price competition begins from the product is established and reaches the maturity stage. During the growth stage, the risk of obsolescence of a product and shortening of the product life cycle is more. The degree of risk involved in product competition is Continue reading

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Business Process Reengineering for Competitive Advantage

In business processes reengineering all the outdated processes of the business are redesigned along with the connected systems and entity’s structures with an aim to reach at a remarkable performance level along with business improvements. The corporate basis for creating these changes possibly will comprise deprived performance in terms of competition, financial aspects and reduction of market share of emerging market opportunities. Business process reengineering just not mean to introduction of new technology, automation, reorganization, and downsizing of business process etc but also involve change assessment various business components such as culture, entity, technology, processes and strategies. The relationship between a company and its customers is not limited to just the buying and selling of a product or service. It has gained new dimensions and expanded from the buying and selling of products and services to a whole range of business practices form customer service, consulting and pricing to production Continue reading

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