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

Employee Involvement – Meaning and Importance

Employees, the strongest pillar of the organization are the most valuable asset that contributes significantly to its success and prosperity. The involvement of employees in the organizational operation not only motivates them but also enables them to contribute more effectively and efficiently. Further, employee involvement as a process involving participation, communication, decision making which leads to industrial democracy and employee motivation. Employee involvement is defined as a commitment of the employees towards the values of the organization and willingness to help each other to achieve the organizational goal. The results are not only to increase job satisfaction, or motivation but the increasing performance of that organization. In short, employee involvement is creating an environment where people have a continuous impact on decisions and actions that affect their jobs. Employee Involvement vs  Employee Participation   Employee involvement and employee participation are like two sides of a coin. Both are supplementary to Continue reading

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Communication Effects of Advertising

The management should attempt to evaluate the effectiveness of the advertising campaign if the firm’s advertising goals are to be achieved and the ad effectiveness is to be increased. By regular evaluation of the advertising effectiveness, the short comings and the plus points would be revealed and the management would be able to improve the campaign by negating the shortcomings and retaining the favorable point. For this purpose, it is very necessary to know how advertising affects the buyer’s behaviors. But this is very difficult task because measurements are imperfect and imprecise. The effectiveness of advertising can be measured by the extent, it to which it achieves the objectives set for it. If it succeeds in attaining the objectives. Advertising can be said to be effective otherwise it will be a waste of money and time. In this sense, advertising can be recognized as a business activity like other activities. Continue reading

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Competitor Analysis

Analyzing competitors is an integral part of strategic planning. Porter’s book, “Competitive Strategy,” gives various insights in Competitor Analysis. In identifying current and potential competitors, firms must consider several important variables: How do other firms define the scope of their market? How similar are the benefits offered by the products and services to those of other firms? How committed are other firms in the industry? What are the long-term intentions and goals of competitors? The goal of competitor analysis is to be able to predict a competitor’s probable future actions, especially those made in response to the actions of the focal business.  Competitor analysis has two primary activities, 1) obtaining information about important competitors, and 2) using that information to predict competitor behavior.  A competitor analysis should include the more important existing competitors as well as potential competitors such as those firms that might enter the industry.  Two complementary approaches Continue reading

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Case Study: “Dude, You’re Getting a Dell” Ad Campaign by Dell

Michael Dell began working with computers at age 15, when he took apart a brand-new Apple computer to see if he could rebuild it. He could. In the 1980s Dell began rebuilding and selling computers from his University of Texas at Austin dorm room, naming his company PCs Limited. In 1985 the company developed its own computer, the Turbo PC, which was advertised for direct sale in national computer magazines. Consumers were attracted by the low prices, so much so that the company grossed $6 million in its first year of business. In 1987 PCs Limited changed its name to Dell Computer Corporation, and in 1992 Fortune magazine listed Dell as one of the world’s 500 largest companies. Sales climbed dramatically, giving even the century-old IBM something to worry about. Within a decade Dell had become the largest seller of personal computers in the United States. It lost that spot Continue reading

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Why Businesses Fail to Manage Ethics in the Workplace?

The majority of the company including international and local organizations starts to alert and concentrate on the importance of business ethics between managements and employees. One of the major challenges in business ethics is creating a safe environment where all employees or workers can raise their concerns about possible misconduct and wrongdoing. Business ethics has been an essential but difficult subject to handle. Many business organizations recognize the importance of business ethics but do not give it due attention. One the contrary, some organizations have simply provided the fundamental business ethic course which involves learning what is right or wrong and doing the right thing. In the reality, some of the organizations have failed to manage the business ethics in the workplace. The major elements which affect the business failure mainly identified and divided into six different types of categories including gender diversity, sexual harassment, lack of communication, age discrimination, Continue reading

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Social CRM – Integration of Social Media into Customer Relationship Management

The modern corporate world has experienced gradual changes over time resulting from different business environments. These environmental changes both internally and externally have in one way or the other affected the growth of business organizations as well as the organizational performance. One of the best ways or improving organizational or business performance is through improving the organizational customer relationships. Business customers act as the greatest assets of the business and therefore their relationship with the business determines the overall performance of the business. A satisfied customer will always end up being a loyal customer of the business and also becomes an ambassador of the company to other prospective customers. Many businesses or organizations have embraced the use of information technology in perceiving different organizational changes and developing effective strategies to counter these environmental changes. On the other hand some other companies have not yet shifted to the use of information Continue reading

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