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

Production planning- Definition, Objectives and Levels

Production planning is concerned with deciding in advance what is to be produced, when to be produced, where to be produced and how to be produced. It involves foreseeing every step in the process of production so as to avoid all difficulties and inefficiency in the operation of the plant.   Production planning has been defined as the technique of forecasting or picturing ahead every step in a long series of separate operations, each step to be taken in the right place, of the right degree, and at the right time, and each operation to be done at maximum efficiency.   In other words, production planning involves looking ahead, anticipating bottlenecks and identifying the steps necessary to ensure smooth and uninterrupted flow of production.   It determines the requirements for materials, machinery and man-power; establishes the exact sequence of operations for each individual item and lays down the time schedule Continue reading

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Virtual Currency – An Overview

Virtual Money is defined as a digital representation of value that is issued and controlled by its creators. It is used and recognized by members of a specific virtual community. Virtual money relies on an organization that completely works on trust and unlike regular money, it is not issued by central bank or any other banking authorities. A virtual currency permits to transfer money without having to use any sort of intermediary like banks. It uses a cryptographic technology called blockchain that forms a collective and publicly demonstrable file of transactions to stop fraud. This builds trust between sellers and buyers, thus eradicating the want banks to get involved to authenticate the procedure. Globalization, virtualization, active customer participation, cost of reduction and networking are indications of altering reality, persuading also the financial amenities. Operating payments services currently regulated by entities of economic trust, which is based on money that is Continue reading

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Major Classifications of Advertising

First of all it is quite necessary to understand the true meaning of advertising in the business terminology. Advertising is a tool of marketing for sales promotion and product awareness to customers. It is a one type of message by such mediator, presentation as well as promotional offer by a firm which can be paid and public announcement. Advertising is a component of marketing system. It deals with the awareness of customers regarding new product or some features about the existence product. It is quite important step for marketing leaders because it involves strategy selection, expenditure analysis and advertising media selection. It is the most expensive strategy among all marketing systems. Advertising is the tool of spreading information widely by some non-personal means by the paid media where the information is transferred about the organisation that pays the money for media. The message is carried out by different Medias. Adverting Continue reading

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Introduction to International Trade Finance

Financing international trade is a complex process, involving many variables, ranging from corporate policy and marketing strategy to exchange risk and general borrowing conditions. The reason behind the complexity of financing international trade is that trade involves two countries with different currencies and jurisdictions. In addition, payments must be made at a distance and across time, so the exporter, the importer, or both need credit during part or all of the period form the initial manufacture of goods by the exporting firm to the time of the final sale and collection by the importer. The main objective of a good corporate export financing policy should be financing the greatest possible amount of sales with the greatest possible management simplicity and with minimal risk. Following are among the important considerations in the choice of a strategy for trade financing: The nature of good in question. Capital goods usually require medium to Continue reading

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6 Secrets to Successful Franchise Leadership

In the ever-evolving landscape of business, the franchise model stands out for its unique blend of uniformity and adaptability. Leaders in this space have the opportunity to take a stable, successful brand, and scale it to its limits. As such, the skill set required is much different to running an ordinary business. To excel, one must strike a delicate balance between consistency and flexibility, deeply understand the brand, and foster a culture of patience and astute hiring. In recognition of these factors, this article will develop six tools and techniques for franchise leaders to implement immediately. 1. Understanding What is Context Dependent and Independent Franchises differ from ordinary businesses in one major way, they leverage the same, or a very similar business model across various contexts. Think of how similar your experience of McDonald’s is wherever you go in the world. This is because they discovered that their business model Continue reading

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Case Study: Why Walmart Failed in Germany?

Wal-Mart, the mega-retailer, was founded by Sam Walton in 1962 in Bentonville, Arkansas. It started with $700,000 in its first year and scaled up to $5.4 million by 1974. The retailer continues to grow while others struggled with inflation and recessions. In 1980, Wal-Mart became the youngest US retailer to exceed $1 billion in net sales. During the 1980s, Wal-Mart began to further expand and thus pushing some retailers to closing some of their regional stores. The company engaged in diversification by creating membership-stores such as Sam’s Club, smaller, more conventional pharmacy/grocery stores called Neighborhood Markets, and finally Supercenters with a wide selection of consumer goods.  And, in 1991, Wal-Mart became the world’s largest retailer. Wal-Mart had been able to implement its Every Day Low Price strategy by focusing on 1) developing a sophisticated logistics system with heavy information technology investments, 2) efficient distribution system by placing retail stores close Continue reading

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