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

SWOT Analysis of Hewlett-Packard (HP)

Overview of  Hewlett-Packard (HP) Company Hewlett-Packard Company (HP) is one of the world’s largest information and technology (IT) companies. It was founded by Bill Hewlett and Dave Packard in 1939. Both of them established Hewlett-Packard (HP) in Packard’s garage which located in Palo Alto, California, USA. First and the foremost, HP is a worlds’ leading PC manufacturer. The creation of these new technologies had brings us a more meaningful impact for the community. This company had offered many products, technologies, software, solution and service for customers, small and medium size of businesses (SMBs) and large enterprises which encompass those customers in the education, government and health sectors. Besides, HP also famous in manufacturing and developing computers, data storage, networking hardware and designing software and sending service. The major product line for the company include those personal computing devices, related storage devices, enterprise servers and also a number of printers and Continue reading

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The Stability Strategy in Management

Stability strategy implies continuing the current activities of the firm without any significant change in direction. If the environment is unstable and the firm is doing well, then it may believe that it is better to make no changes. A firm is said to be following   a stability strategy if it is satisfied with the same consumer groups and maintaining the same market share, satisfied with incremental improvements of functional performance and the management does not want to take any risks that might be associated with expansion or growth. Stability strategy is most likely to be pursued by small businesses or firms in a mature stage of development. Stability strategies are implemented by ‘steady as it goes’ approaches to decisions. No major functional changes are made in the product line, markets or functions. However, stability strategy is not a ‘do nothing’ approach nor does it mean that goals such Continue reading

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5 Ways to Improve Employee Retention and Foster a Thriving Workforce

The success of every firm depends on its ability to find and keep exceptional individuals in today’s competitive job market. Workflow is disrupted by high personnel turnover, resulting in high costs for recruiting, training, and lost productivity. To address this challenge, businesses must implement smart strategies to improve employee retention. This article will explore five effective approaches that can help create a loyal and engaged workforce. Hire the Right People The foundation of a strong employee retention strategy lies in hiring the right people. Taking a proactive approach to recruitment ensures that you bring on board individuals who align with your company culture, possess the necessary skills, and exhibit the potential for long-term success. By carefully evaluating candidates through comprehensive assessments, interviews, and reference checks, you can significantly reduce the risk of turnover. Selecting employees who are the right fit enhances job satisfaction and promotes a harmonious work environment. Optimize Continue reading

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Conflicts Between Shareholder Theory and Stakeholder Theory

Firstly, it is necessary to understand some definitions of shareholders, stakeholders, shareholder theory and stakeholder theory. Shareholder is an individual or corporation owning stock in a public or private company. Shareholder decides the membership of the board of directors by making a vote. Maximizing shareholder wealth means maximizing the flow of dividends to shareholders through time. Stakeholder are groups and individuals who get benefit from or are harmed by, or whose rights are contravened or regarded by, corporate actions. The list of stakeholders commonly includes customers, employees, suppliers and the community like shareholders and other investors. Shareholder theory supports that management is allowed to ignore the interest of the the other constituencies while pursuing the interest of the shareholder owners. Moreover, in the perspective of finance, shareholder wealth maximization is accepted as being obvious logically. The stakeholder theory says that managers should pay attention to all stakeholders in a company Continue reading

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ERP Tutorial

Enterprise Resource Planning (ERP) implementation needs lot of attention and dedication from all the concerned. The top management role is generally limited to the approval of the ERP package and taking care of ERP budgets. The top management identifies a person as ‘Champion’ to take the decisions as required. Once the company decides to go for a specific ERP, all the employees who are likely to be affected shall be taken into confidence and each of the end user shall be provided with ERP tutorial for their function. While there are more than one standard ERP tutorial, it may be better for the consulting company or the company’s IT department to device their own tutorial. While ERP application is being customized, the concerned are consulted and their inputs are taken. Once the customization is done, the system integration and testing are done. At this point of time the users are Continue reading

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Neo-Factor Proportions Theory

Extending Leontief’s view, some of the economists emphasize on the point that it is not only the abundance (scarcity) of a particular factor, but also the quality of that factor of production that influences the pattern of international trade. The quality is so important in their view that they analyse the trade theory in a three-factor framework instead of two-factor framework taken into account by Heckscher and Ohlin. The third factor manifests in the form of: Human capital: It is the result of better education and training.Human capital should be treated as a factor input like physical labor and capital. A country with human capital maintains an edge over other countries with regards to the export of commodities produces with the help of improved human capital. Skill Intensity: The skill intensity hypothesis is similar to human capital hypothesis as both of them explain the capital embodied in human beings. It Continue reading

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