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

Four Typologies of Organizational Culture

In organizational culture there are many kind of categorization and typologies have been explained by different scholars of culture. Theses typologies give and over view about the different cultures which exist in organizations.  Handy (1985) was the person who discussed how different cultures have their existence in different organizations and within the same organization many diverse cultures can coexist. There are very few organizations exist who have a single culture exists in them. Every individual have its own culture within him and have his own specific personality and culture along with organizational culture. Organizational culture and structure of any organization are connected with each other. In organizations A few subcultures and cultures will be well-suited and other will not be suited. Handy talked about four kinds of eminent cultures and each of these cultures had a linked culture. These cultures are explained below in detail. 1. The Power Culture The Continue reading

Abey Francis

Ethical, Security, Legal and Privacy Concerns of Data Mining

Data mining is a powerful new technology with great potential to help companies focus on the most important information in the data they have collected about the behavior of their customers and potential customers. It discovers information within the data that queries and reports can’t effectively reveal. The amount of raw data stored in corporate databases is exploding. From trillions of point-of-sale transactions and credit card purchases to pixel-by-pixel images of galaxies, databases are now measured in gigabytes and terabytes. Raw data by itself, however, does not provide much information. In today’s fiercely competitive business environment, companies need to rapidly turn these terabytes of raw data into significant insights into their customers and markets to guide their marketing, investment. Data mining, or knowledge discovery, is the computer-assisted process of digging through and analyzing enormous sets of data and then extracting the meaning of the data. Data mining tools predict behaviors Continue reading

Abey Francis

Service Organizations

An organization providing intangible services rather than tangible goods is termed as Service organization. In the standard industrial classification, service organizations include hotels, restaurants and other lodging and eating establishments, barber shops, beauty parlors and other personal services, repair services, motion picture, television and other amusement and recreational services, legal services and accounting, engineering, research/development, architecture and other professional organization.  Service organizations also includes educational organizations, banks, insurance companies and other financial institutions. Also government agencies and most other non-profit organizations are service organizations. Characteristics of Service Organizations Quantity Measurement: It is easy to keep track of the quantity of tangible goods, both during the production process and when the goods are sold, but it is not easy to measure the quantity of many services. We can measure the number of patients that a physician treats in a day, for example, and even classify these visits by type of complaint, Continue reading

Abey Francis

Case Study on HR Issues: Supervisory Support

Joseph a plant level worker has been twenty years of experience, in Zeal Zink Ltd, a large scale industrial establishment in Maharashtra. He is hard working, competent, punctual and reliable employee of Binani Zink Ltd. He is having good interaction and interrelation with his superiors, co-workers and other members in the organization. The management has better impression and appreciation about his performance and commitment. The only disagreement the management has on him is his affiliation to one of the trade unions in the organization. Management didn’t have any impression towards the existence of trade unions within the organization as they believed that trade unions are to mislead and exploit the work force and a big hurdle in the smooth progress of the organization. To make Joseph more work oriented, management decided to promote him to supervisory level. The promotion decision is beyond his expectation. He found himself very happy with Continue reading

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Statutory Measures for Employee Protection and Welfare in India

The preamble to our Indian Constitution promises justice – social, economic and political. It also stresses Equality of status and of opportunity. Article 23 of the Constitution prohibits traffic in human beings and forced labour. Article 24 prohibits employment of children in factories. The article 38 and 39 spelt under Directive Principles of State Policy are now enforceable as per the dictums laid by our Supreme Court. Constitution of India, Article 38: State to secure a social order for the promotion of welfare of the people: The State shall strive to promote the welfare of the people by securing and protecting as effectively as it may a social order in which justice, social, economic and political, shall inform all the institutions of the national life. The State shall, in particular, strive to minimize the inequalities in income, and endeavor to eliminate inequalities in status, facilities and opportunities, not only amongst Continue reading

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Foreign Exchange Forecasting in Practice

Most of the approaches to foreign exchange rate determination tell only part of the story–like the several blindfolded men touching different parts of the elephant’s body–and other, more comprehensive explanations cannot, in practice, be used for precise forecasting. We do not yet have a way of bringing together all of the factors that help determine the exchange rate in a single comprehensive approach that will provide reliable short- to medium-term predictions. The exchange rate is a pervasive and complex mechanism, influencing and being influenced by many different forces, with the effects and the relative importance of the different influences continuously changing as conditions change. To the extent that trade flows are a force in the market, competitiveness is obviously important to the exchange rate, and the many factors affecting competitiveness must be considered. To the extent that the money market is a factor, the focus should be on short-term interest Continue reading

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