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

Scope and Objectives of Investment Portfolio Management

Scope of Portfolio Management Portfolio management is a continuous process. It is a dynamic activity. The following are the basic operations of a portfolio management. Monitoring the performance of portfolio by incorporating the latest market conditions. Identification of the investor’s objective, constraints and preferences. Making an evaluation of portfolio income (comparison with targets and achievement). Making revision in the portfolio. Implementation of the strategies in tune with investment objectives. Objectives of Portfolio Management The objective of portfolio management is to invest in securities is securities in such a way that one maximizes one’s returns and minimizes risks in order to achieve one’s investment objective. A good portfolio should have multiple objectives and achieve a sound balance among them. Any one objective should not be given undue importance at the cost of others. Presented below are some important objectives of portfolio management. Stable Current Return:  Once investment safety is guaranteed, the Continue reading

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McKinsey’s 7S Model – A Great Strategic Management Tool

The McKinsey’s 7S Model was created by the consulting company McKinsey and Company in the early 1980s and subsequently has become the de facto standard used by practitioners and academics alike in analysing the performance of an organization. The McKinsey’s 7S model is a value based management (VBM) model that describes how one can holistically and effectively organize a company and together, these factors determine the way a company operates. There are seven variables in the model which include structure, strategy, systems, skills, style, staff and shared values. All beginning with ‘s’, justifying why it was termed as the 7S model. These seven variables can be classified as soft components and hard components. Strategy, structure and system were hard components which are usually feasible and easy to identify because they are usually in the policy statements, business plans, organizational charts, organizational structures and systems as recorded in the report. The 7S Continue reading

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Benefits of Corporate Retreats in Organizations

Corporate retreats can be of any type, such as a sport retreat, or a seminar-style retreat. They are to promote a feeling of teamwork and to build a better understanding among company employees. Corporate retreats can also help employees gain some problem-solving skills that lead to better teamwork and better overall productivity. These team-building activities focus on events where everyone has to work together to reach a common goal. The examples are river rafting, rock climbing, mountain climbing, everyone hiking blindfolded while holding on the same rope, team scavenger hunts, friendly competitions between company departments, etc. Corporate retreats can be customized to fit the company’s need. They can make the employees learn about what the temporary retreat goals are, as well as the long-term results that the company is striving for. Why corporate retreats can increase productivity? This is because organizations can derive some valuable skills from corporate retreats. These Continue reading

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Collective Bargaining and the Negotiation Process

Collective bargaining is accurately an automated relations apparatus or tool, and is an aspect of negotiation, applicable to the application relationship. As a process, the two are in essence the same, and the attempt applicative to negotiations is participation ant to aggregate bargaining as well. However, some differences charge to be noted. In aggregate bargaining the abutment consistently have an aggregate absorption back the negotiations are for the account of several employees. Area aggregate bargaining is not for one employer but for several, aggregate interests become affection for both parties to the bargaining process. In negotiations in non-employment situations, aggregate interests are less, or non-existent, except when states accommodate with anniversary other. Further, in labor relations, negotiations absorb the public absorption such as area negotiations are on accomplishment, which can papules on prices. This is around accustomed back an affair or the parties seek the abutment of the public, especially Continue reading

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Six Elements of Organizational Structure

An organizational structure is a diagram displaying the hierarchical arrangement of lines of authority, roles and duties within an organisation and how they relate to one another. A structure is dependent upon the objectives and strategy of which the organization is focussed on. There are six basic elements of an organizational structure: Specialisation Departmentalisation Chain of Command Span of control Centralisation and Decentralisation Formalisation Work specialization gives employees specific duties and roles they are expected to perform within the company, factoring in their qualifications and skills. Having descriptions of duties for staff members helps the organisation to fully meet the workforce needs and to ensure there are no unnecessary duplications within roles. Departmentalization refers to how the organisation breaks down the functions and teams needed to run the company and carry out the essential tasks. Departments are usually made up of staff members who perform similar tasks in the same Continue reading

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Role and Importance of Advertising

Advertising is part of Marketing. In order to stimulate customer response always the advertisement is a good opportunity for the company to promote. The more people see the product/service, the more they feel like buying it. So many companies rely on advertising these days to boost sales of their products or services, to build a connection with their audience and to create competition with their rival firms. There are different types to gain customer’s awareness like advertising, and promotion, Also there are different places that advertisements can be positioned, using the metro, trams, buses, restaurants and so on The advertising objectives should support main company’s goal and should be discussed with company-client in order to avoid misunderstanding. The advertising roles are based on company’s marketing strategy, like; Increase sales, Increase brand awareness and Supporting other market efforts. Advertising gives companies and businesses the opportunity to build up a brand and Continue reading

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