Case Study on Entrepreneurship: Larry Page

Business Analysis

The Boundaryless Career: Modern Contemperory Perspective on Career

Human Resource Management

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

Relational Leadership Paradigm – Five Practices of Exemplary Leaders

Effective leadership is about creating reciprocal relationships between the leader and followers, subordinates, or constituents that in turn creates the foundation for organizational and group success. The Kouzes and Posner’s Five Practices of Exemplary Leadership Model has been noted for its contributions to the Relational Leadership paradigm. Kouzes and Posner (1987) conducted research in the area of “personal best” leadership experiences. They developed a “Personal-Best Leadership Experience” questionnaire, asked thousands of managers to complete the questionnaire, and conducted many follow-up interviews to gather additional information. The personal-best questionnaire asked managers to pick a project, program, or event that they characterized as their “personal-best” leadership experience. After analyzing the data collected from questionnaires and interviews, Kouzes and Posner found that despite the variety in situations and types of leadership experiences, similar patterns were identified related to actions taken by the leaders during the experience. Through the analysis process they identified “Five Continue reading

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The Pros and Cons of Bitcoin

The Bitcoin was designed to be the perfect virtual currency. Bitcoin is completely anonymous, cryptographically secure, and friction-less. It is also invisible to law enforcement as well as the taxman. It can be seen as the holy grail of payments for anyone trying to avoid bank fees while spending money domestically or abroad. On another note it is the perfect trading grounds for members of the underground economy, attempting to avoid law enforcement and prosecution. Although there are many pros in the use of Bitcoins, there are always cons. Nothing is perfect. The strengths of Bit coin can also be considered its weaknesses. Once the money is sent, it is sent, it was designed so that there is no trust required between buyer and seller, payment was guaranteed, as soon as it enters the account, it cannot be taken back unless the seller refunds it. Not many people are willing Continue reading

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Online Analytical Processing (OLAP) – Definition, Architecture and Functionality

OLAP Council (1997) define Online Analytical Processing (OLAP) as a group of decision support system that facilitate fast, consistent and interactive access of information that has been reformulate, transformed and summarized from relational dataset mainly from data warehouse into Multi-Dimensional Databases (MDDB) which allow optimal data retrieval and for performing trend analysis. OLAP is an important concept for strategic database analysis. OLAP have the ability to analyze large amount of data for the extraction of valuable information. Analytical development can be of business, education or medical sectors. The technologies of data warehouse, OLAP, and analyzing tools support that ability. Online Analytical Processing (OLAP) enable discovering pattern and relationship contain in business activity by query tons of data from multiple database source systems at one time. Processing database information using OLAP required an OLAP server to organize and transformed and builds MDDB. MDDB are then separated by cubes for client OLAP Continue reading

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The Concept of Profit Standards in Managerial Economics

Standards of reasonable profits are determined when a firm chooses to make only reasonable profits rather than to  maximize  its profit. The questions that arise in this regard are as follows: What form of profit standards should be used? How should reasonable profits be determined? These questions can be understood after going through the following explanatory points. Forms of Profit Standards Profit standards is determined in terms of the following: Aggregate money terms Percentage of sales, and Percentage return on investment. All these standards are determined for each product separately. Among all the forms of profit standards, the total net profit of the firm is more common than other standards. But when the purpose is to discourage the competitors, then the target rate of return on investment is the appropriate profit standard, provided the cost curves of competitors’ are similar. The profit standard in terms of ratio to sales is Continue reading

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Types of Management Control

Management Control Types There are three major types of management control over behavior in organizations. Each control has its own standards, its own monitoring system and its own system for corrective action when behavior does not meet standards. These three types of management controls are given below: Organizational Controls. The organizational controls refer to the formal rules and standard operating procedures that are communicated throughout the organization. Such controls are concerned with the total organization and may, therefore, be called administrative controls. The direction for organizational controls comes from the plans and purposes of the organization. In business organizations, this direction is often expressed in terms of market share, cost reduction, return on investment etc. These may be translated into specific performance measures such as sales quotation standard costs and budgets. Rewards for meeting standards, vary from a word of praise to salary increase and promotion. Social Controls. Social or Continue reading

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Procurement Methods in Project Management

The development of procurement strategy follows the stages in the life of a project. Initially, a preliminary strategy is determined. It is based on a broad definition of objectives and is an essential step in establishing the way forward for the project. It encourages the client to consider strategy early. The preliminary procurement strategy is usually developed with help from the client’s adviser and possibly other consultants. Procurement strategy development has three components: Analysis – assessing and setting the priorities of the project objectives and requirements; Choice – considering possible options, evaluating them and selecting the most appropriate; and Implementation – putting the chosen strategy into effect. During strategy preparation, it may be necessary to seek specialist advice from other consultants, for example, in relation to expected costs for the project. The adviser should advise the client on this. Specialist advice should besought when developing the strategy for novel or Continue reading

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