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

Sales Force Management

Sales Management is an integral sub-system of Marketing Management. It translates the Marketing Plan into Marketing Performance. Sales Management is hence described as the muscle behind Marketing Management. Every organization has people who are entrusted with the responsibility of dealing with prospects and customers to sell their products or services — its salesmen. They may be called technical executives, sales executives or marketing executives. Whatever the term is used, their major concern in the sales function is to constantly improve the profitability of the territory. The Sales Manager in a modern organization holds a multitude of responsibilities. He has to plan, direct and control the personal selling effort of the firm. His task does not stop with the achievement of sales quotas. He is also responsible for bringing in the required profits. In addition, he is also responsible for creating the desired image for the company and its products. In Continue reading

Abey Francis

Case Study on Entrepreneurship: Mary Kay Ash

The founder of Mary Kay Inc, Mary Kay Ash is an outstanding woman in the business in the 20 century. There are many successful entrepreneurs over the world but none as unique as Mary Kay Ash. She is a amazing speaker, motivator. Her achievements left a remarkable mark on American business industry and opened the door for women around the world to achieve their potential and a successful life. She is referenced to as one of the 25 Most Influential Business Leaders during the Last 25 Years in 2004. The United States were lowered to half mast for her when she died in 2001. Mary Kay Ash wined numerous awards and honors during her life. Texas Women’s Chamber of Commerce named her as Texas Woman of the Century in 1999. In 2002 Dallas Business Hall of Fame Laureate in recognition of her lifetime achievements as well as demonstrating inspiring business Continue reading

Abey Francis

History and Development of Project Management

A project is a temporary endeavor to create a unique product, service or result. The temporary nature of projects creates a defining beginning and end. Project management is the application of knowledge, skills and tools and techniques to project activities to meet the project requirement. Project is accomplished through appropriate application and integration of different process groups. A project fills an essential need in society. Indeed, projects are the major mode in which change is accomplished. It is the mode in which corporate strategy is implemented, business change is addressed, productive teams and their necessary competencies are dealt with, quality of deliverables, and tracking pre-established metrics for management’s decision making, as well as closing out a project and creating lessons learned are performed. Historical Developments on Project Management Pre – 1950 Era The project management is now in its modern form. There has been some form of projects since early Continue reading

Abey Francis

Spot and Forward Foreign Exchange Rates

There are two types of foreign exchange rates, namely the spot rate and forward rates ruling in the foreign exchange market. The spot rate of exchange refers to the rate or price in terms of home currency payable for spot delivery of a specified type of foreign exchange. The forward rate of exchange refers to the price at which a transaction will be consummated at some specified time in future. In modern times the system of forward rate of foreign exchange has assumed great importance in affecting the international capital movements and foreign exchange banks play an important role in this respect by matching the purchases and sales of forward exchange on the part of would be importers and would be exporters respectively. The system of forward foreign exchange rate has actually been developed to minimize risks resulting from the possibility of fluctuations over time in the spot exchange rate Continue reading

Abey Francis

Performance Under Stress Pressure

The difference between Pressure and Stress It is important to understand the difference between pressure and stress.   When you are faced with a challenge you are confident you can meet, it is normal to experience positive feelings such as excitement and motivation.   This results in higher than normal levels of energy and an enthusiasm to work hard and succeed.   On the other hand however, when faced with a challenge you believe is beyond you, for whatever reason, you are in danger of experiencing stress.   Any level of pressure you perceive as excessive, may, if not reduced within a reasonable period of time, turn into chronic stress. When stressed, your overall performance will reduce.   If you feel that you are not capable of meeting a challenge, you experience negative thoughts, feelings and physical sensations that drain your energy and lower your mood and desire to work. Continue reading

Abey Francis

Just-In-Time (JIT) Method – Eliminate Waste and Improve Productivity

Just-in-time or JIT means producing goods and services exactly when they are needed, like for example a new company opens that is producing steering shaft for automobiles. The company, under the JIT system, will set up the machines to produce the jobs in a row from those who collect the metals at one end, all of the way to those who ship the product at the other end of the factory.   The people at each station, as they receive the product, take the job order, perform their duties on the product, and then transfer the product out to the next station after their work is completed.   Along the way, the product is screened for infirmities, and if they exist, the line is stopped until the defect is repaired.   In the end, the shipping agent will receive the product and ship it to the customer.   All along Continue reading

Abey Francis