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

Characteristics of Project Phases

The completion and approval of one or more deliverables characterizes a project phase. A deliverable is a measurable, verifiable work product such as a specification, feasibility study report, detailed design document, or working prototype. Some deliverables can correspond to the project management process, whereas others are the end products or components of the end products for which the project was conceived. The deliverables, and hence the phases, are part of a generally sequential process designed to ensure proper control of the project and to attain the desired product or service, which is the objective of the project. In any specific project, for reasons of size, complexity, level of risk, and cash flow constraints, phases can be further subdivided into subphases. Each subphase is aligned with one or more specific deliverables for monitoring and control. The majority of these subphase deliverables are related to the primary phase deliverable, and the phases Continue reading

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Spirituality and Management

In the recent past globalization has been a buzzword in most of the corporate houses. Looking dispassionately it is becoming imminent that globalization cannot be stopped in the world economy. This throws new challenges in managing the projects, people, production and market places. This need is pushing the leadership to adopt new approaches to utilize the time, human resources and the potential of the workforce. Many researchers in the field of Human Resources Development have found that spirituality is going to bring in such capabilities as the globalization process demands. Though spirituality in the life of human being is generations-old, it is being revisited with lot of conviction and confidence. We observe off and on that many successful leaders of the corporate ascribe the success of that organization to their people and not to themselves. The modern paradigm is characterized by rigid attitudes and beliefs about others and practices in Continue reading

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Tips for Managing Stress

Stress management is the need of the hour. However hard we try to go beyond a stress situation, life seems to find new ways of stressing us out and plaguing us with anxiety attacks. Moreover, be it our anxiety, mind-body exhaustion or our erring attitudes, we tend to overlook causes of stress and the conditions triggered by those. In such unsettling moments we often forget that stressors, if not escapable, are fairly manageable and treatable. Stress, either quick or constant, can induce risky body-mind disorders. Immediate disorders such as dizzy spells, anxiety attacks, tension, sleeplessness, nervousness and muscle cramps can all result in chronic health problems. They may also affect our immune, cardiovascular and nervous systems and lead individuals to habitual addictions, which are inter-linked with stress. Like “stress reactions”, “relaxation responses” and stress management techniques are some of the body’s important built-in response systems. As a relaxation response the Continue reading

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Personnel Action Systems (PAS)

As the name itself specifies, Personnel Action Systems (PAS) supports the activity of the personnel department in taking actions on the following: Filling job openings and Recording and reporting promotions, transfers, terminations and other employee status changes. Two systems involved in Personnel Action Systems (PAS) are: Placement data system and Personnel activity reporting system. The details vary from organization to organization. Equal employment opportunity and affirmative action concerns in USA are making more extensive data systems necessary with respect to both the above systems. There is a growing need to document the search procedure employed to job applicants and the decision procedure by which the new applicant is selected. Promotions, transfers and termination need more justification than they were in the past. 1. Placement Data System Placement data procedures center around the development and use of more applicant files (generally more than one). Separate files are required for jobs that Continue reading

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Service Recovery – Meaning, Strategies and Importance

Service recovery plays an important role in nowadays relationship marketing. Today, many organizations are facing challenges in the area of customer service and service delivery. It has been found that as the cost of attracting a new customer is more expensive than retaining an existing customer, therefore, organizations are striving to build long-term relationship with existing customers. This approach helps the organizations to keep their existing customers higher the loyalty level towards their businesses and also benefit the customers in enjoying a high level of customer service which is provided by the organizations. What is Service Recovery? Service failure happens all the time when organizations provide services to the customers. Although a zero defect product and well-trained service delivery can result in a negative service conflict because of the heterogeneity of customer’s outcome and process expectations. These unavoidable mistakes affect the goal of securing customer base. For customers, service failure Continue reading

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The Meaning and Essence of Leadership

Leadership is a process of influencing the behavior of other people to work willingly towards the achievement of organisational goals. It involves existence of a leader and followers. So leadership is an exercise to influence the behavior of the followers towards attainment/achievement of specified goals. Here the person who guides or directs his followers is known as leader. Leadership is a process of influence: Leadership is a process whose important ingredient is the influence exercised by the leader on goup members. A person is said to have an influence over others when they are willing to carry out his wishes and accept his advice, guidance and direction. Successful leaders are able to influence the behavior, attitudes and beliefs of their followers. Leadership is the function of stimulation:  Leadership is the function of motivating people to strive willingly to attain organisational objectives. Leaders are considered successful when they are able to Continue reading

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