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

The Customer Satisfaction Model – Based on American Customer Satisfaction Index (ACSI)

Marketing Management

Production Control- Definition, Objectives, Levels and Factors

Definition of Production Control All organizations irrespective of size, use production control to some degree. In small organizations, the production control may be performed by one person; but in large complex industries the production control department is normally well-organised and highly specialized.   Production control presupposes the existence of production plans, and it involves the use of various control techniques to ensure production performance as per plans.   Co-ordinating men and materials and machines is the task of production control. Production control may be defined as “the process of planning production in advance of operations; establishing the exact route of each individual item, part of assembly; setting and finishing dates for each important item, assembly and the finished products, and releasing the necessary orders as well as initiating the required follow-up to effectivate the smooth functioning of the enterprises.”   According to Henry Fayol, production control is the art and Continue reading

Abey Francis

Price Discrimination in Managerial Economics

In today’s economies where product and service competition is dense, to sell products and services to consumers in the way as expected by the company has become harder but at the same time necessary compared to the past. It has become unavoidable for the firms to use various pricing strategies alongside with the classical selling strategies to reach this goal. In today’s economic conditions in which the markets being far from full competitive state resulted the firms functioning in this market to become more or less a price-maker. For this reason, one of the ways for the firms that aim to increase the total income thus the total profit can use is, to implement different pricing for consumers with different specialties instead of applying the same pricing for all the consumer groups. Because the consumers having different income levels, taste and choice cause them to have a desire to pay Continue reading

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Concept of Economic Value Added (EVA)

The onset of liberalization and globalization of the Indian economy over the ten years has resulted in shift of the corporate goals from socio-economic focus to an increasing shareholders value. Therefore, the present day need is to choose the right metrics that would help to measure organizational progress in meeting the above mentioned strategic goal. Although there are few traditional performance metrics like balance sheet measures (namely, rate of return, shareholders’ profit, earning per share) and market driven measures (namely, market capitalization, price earning ratio), these are subject to certain deficiencies. Balance Sheet based measures are veiled in accounting anomalies that generally measure notional profit, not real ones and market driven measures are prone to volatility of the bourses. The need is for a mix and match measure that factor in a market’s assessment of a company’s value. At the same time, it should be a real measure of its Continue reading

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Conceptual Perspectives on Management

Management has become a part and parcel of everyday life, be it at home, in the office or factory and in government. In all organizations, where group of human beings assemble for a common purpose, management principles come into play through the management of resources, finance and planning, priorities, policies and practice. Management is a systematic way of carrying out activities in any field of human effort. Efficacious and effective management is not possible without in-depth knowledge of the organisation which is being managed. Organisational knowledge is absolutely critical to building, preserving and leveraging institutional excellence. It is like the air you breathe-you cannot measure it, touch it, or see it but you cannot survive without it. The basic elements of management are always there whether we manage our lives or our business. In fact, management is used knowingly or unknowingly by everybody born as human being on this earth. Continue reading

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Concept of Project Based Organizations (PBO)

In today’s turbulent market, a lot of organizations is still seeking for a strategic advantage over others and a lot of them has actually seek Project Based Organization (PBO) as a way to propel them for greater height and thus, gain a strategic advantage over other companies. However, there are still questions how they can best make use of this new organization structure approach to create a synergy between company business mission, strategy, and project as well as portfolio management Project Based Organizations refer to organizational forms that involve the creation of temporary systems for the performance of project tasks or activities. PBOs are gaining increased attention as an emerging organizational form, but there is very little knowledge on how PBO function in practice and what value or benefits in adopting the practice of Project Based Organizations. Needless to say, there are not many findings on how the extensive use Continue reading

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Approachs to Ensure Employee Discipline

Maintenance of harmonious human relations in an organization depends upon the promotion and maintenance of employee discipline. No organization can prosper without employee discipline. Discipline has been a matter of utmost concern for all organizations. Maintenance of effective discipline in an organization ensures the most economical and optimum utilization of various resources including human resources. Thus, the objective of discipline in an organization is to increase and maintain business efficiency. Effective discipline is a sign of sound human and industrial relations and organizational health. The different approaches to employee discipline include,(i) human relations approach, (ii) human resources approach, (iii) group discipline approach, (iv) the leadership approach, and (v) judicial approach. The employee is treated as human being and his acts of indiscipline will be dealt from the viewpoint of values, aspirations, problems, needs, goals behavior etc. Under human relations approach the employee is helped to correct his deviations. The employee Continue reading

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