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

HR Strategy Formulation: Organization Mission and Goals Analysis

Even similar organizations often pursue different goals; a thorough organizational analysis of the organization’s overall mission and goals is a second integral aspect of identifying human resource strategies. All organizations exist to accomplish something in their larger environments. The mission — the purpose of an organization’s existence — should guide its strategic thinking. For example, two similar electronics manufacturers may have varying missions. One may want to “be a successful organization in the entertainment business,” while the other may define its mission as “occupying a technological leadership position in the industry.” The associated strategies are likely to show significant differences. Apart from manufacturing electronic goods used for home entertainment, the former firm may acquire video and film production firms and get into the music industry (e.g., producing music DVD’s); while the second firm may be more committed to innovative electronic products through research and development. The associated human resource strategies Continue reading

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Case Study: The Magic of Ford

In 1903, in a small wagon shop in Dearborn Michigan, a man by the name of Henry Ford started what is today the Ford Motor Company. It started it in 1896 when Henry Ford built his first car. It was only experimental at the time, but less than ten years later in 1908 he introduced a more updated version to the public. This became known as the Ford Model t. Once people realised what a wonderful novelty this was and how it would greatly facilitate their lives, there was a huge demand for them. In order for the company to be able to satisfy this heavy demand, ford introduced the world’s first assembly line for cars. It revolutionised the industry. By 1923 more than half of America’s vehicles were made by Ford. Today, the Ford Motor companies the number two company in its industry as well as the number two Continue reading

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Advertising – Definition, Features, Objectives and Functions

Advertising is an important tool of promotion. Advertisement is a non-personal presentation of an idea or a product (where as personal selling or salesmanship help in personal promotional.) Advertisement supplements personal selling to a great extent. Advertising has, acquired great importance in the modern era characterized by tough competition in the market and fast changes in technology, and fashion and taste customers. Advertising is used for communicating business information to the present and prospective customers, often utilizing various mediums such as print, digital platforms, and advertising display screens. It usually provides information about the advertising firm, its product qualities, place of availability of its products, etc. Advertisement is indispensable for both the sellers and the buyers. However, it is more important for the sellers. In the modern age of large scale production, producers cannot think of pushing sale of their products without advertising them. What is Advertising? Advertising is the dissemination Continue reading

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Motions and Resolutions

A ‘motion’ is a definite proposal put before a meeting for its consideration and adoption. A  ‘resolution’ on the other hand is the formal expression of the decision of a meeting. When a motion has  been duly voted upon and passed by a majority, with or without amendment, it is called a ‘resolution’. A  resolution once adopted and recorded in the minutes becomes the official decision of the meeting and  cannot be rescinded or revoked except by the consent of two-thirds majority in a meeting specially called  for the purpose. Kinds of Resolutions 1. Ordinary Resolution A resolution which is passed by a simple majority of votes cast by members present in person or  by proxy is called ‘ordinary resolution’. Simple majority means that the votes cast in  favor  of the  resolution must be at least one more than 50 per cent of the votes cast. An ordinary resolution must Continue reading

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Employees’ Provident Funds Scheme, 1952

Introduction:- Every worker wants security & maintenance for old age. The provident Fund act-1952 deals with provident funds relating to only Govt., railways and local authorities. Therefore, it was considered desirable to introduce a private scheme for industrial workers. As a result, the provident fund act 1952 was passed which initially provided for payment of pension fund to employees in industries specified in schedule-1. Definitions: Employee Definition: “Employee” as defined in Section 2(f) of the Act means any person who is employed for wages in any kind of work, manual or otherwise, in or in connection with the work of an establishment, and who gets wages directly or indirectly from the employer and includes any person employed by or through a contractor in or in connection with the work of the establishment. Membership: All the employees (including casual, part time, Daily wage contract etc.) other then an excluded employee are Continue reading

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Case Study: Ryanair Business Strategy Analysis

Ryanair is an Irish low cost airline headquartered in Dublin founded in 1985. It operates 181 aircrafts over 729 routes across Europe and North Africa from 31 bases. Ryanair has seen large success over the recent years due to its low-cost business model and has become the world’s largest airline in terms of international passenger numbers. Taking Porter’s generic business strategies into consideration, Ryanair operates a cost-leadership strategy to drive itself into achieving its mission of being the leading European low-cost carrier (LCC). Throughout this essay the business strategy of Ryanair will be analysed and the sustainability of their model evaluated. Ryanair’s objective is to firmly establish itself as Europe’s leading low-fares scheduled passenger airline through continued improvements and expanded offerings of its low-fares service. Considering their objectives and mission, Ryanair’s decision on their cost-leadership strategy was based on a few main factors which are discussed below. A major influence Continue reading

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