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

Role and Functions of Reserve Bank of India (RBI)

The Reserve Bank of India is the central bank of India, was established on April 1, 1935 during the British-Raj in accordance with the provisions of the Reserve Bank of India Act, 1934. The Reserve Bank of India was set up on the recommendations of the Hilton Young Commission. The commission submitted its report in the year 1926, though the bank was not set up for nine years. The Central Office of the Reserve Bank was initially established in Kolkata, Bengal, but was permanently moved to Mumbai in 1937. Though originally privately owned, the RBI has been fully owned by the Government of India since nationalization in 1949. The Preamble of the Reserve Bank of India describes the basic functions of the Reserve Bank as to regulate the issue of Bank Notes and keeping of reserves with a view to securing monetary stability in India and generally to operate the Continue reading

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Differences Between Manufacturing and Service Operations

Generally speaking, process efficiency is the most important to manufacturing operations while production and marketing are inseparable to service operations. Manufacturing’s tangible output can be consumed overtime, less labor and more equipment are used in production, since automation has increased capital intensity while as a result reduced customer contact. Consumers rarely take part in the manufacturing process, many manufacturing operations have emphasized efficiency while compromising flexibility, the methods for monitoring and using resources are sophisticated while producing. On the other hand, service operations are different from those of manufacturing operations. Consumption and production of services takes place simultaneously or closely, and there are more labor and more customer participation, which means service businesses, usually are more customer-oriented. while elementary methods are frequently used for monitoring and using resources. To be specific, there are mainly six differences between manufacturing operations and service operations. 1. Basic organize style in operation Basically, manufacturing Continue reading

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Job Enrichment – Motivation by Enriching Jobs

Fredrick Herzberg gave greater emphasis on job enrichment in his two factor theory. He assumed that in order to motivate personnel, the job must be designed to provide opportunities for achievement, recognition, responsibility, advancement and growth. This technique entails enriching the job so that these factors are included. It simply means, adding a few more motivators to job to make it more rewarding. A job is enriched when the nature of the job is made more exciting, challenging and creative or gives the job holder more decision making, planning and controlling powers. According to Beatty and Schneider, “Job enrichment is a motivational technique which emphasizes the need for challenging and interesting and interesting work. It suggests that jobs be redesigned so that intrinsic satisfaction is derived from doing the job. In its best applications, it leads to a vertically enhanced job by adding functions from other organizational levels, making it Continue reading

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Literature Review – Employee Training and Development

Introduction Human resources are considered by many to be the most important asset of an organization, yet very few employers are able to harness the full potential from their employees (Radcliffe, 2005). Human resource is a productive resource consisting of the talents and skills of human beings that contribute to the production of goods and services (Kelly, 2001). Lado and Wilson (1994) define human resource system as a set of distinct but interrelated activities, functions, and processes that are directed at attracting, developing, and maintaining a firm’s human resources. According to Gomez-Mejia, Luis R., David B. Balkin and Robert L. Cardy, (2008), it is the process of ensuring that the organization has the right kind of people in the right places at the right time. The objective of Human Resources is to maximize the return on investment from the organization’s human capital and minimize financial risk. It is the responsibility Continue reading

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Shareholder Value Analysis (SVA)

Shareholder Value Analysis (SVA) is an approach to financial management, which focuses on the creation of economic value for shareholders, as measured by share price performance and flow of funds. It’s lead by the principle that the management of a company should take into consideration the shareholder’s interest and advantages before meets any decision, set short-term or long-term objectives and decide company’s strategy as well. Shareholder Value Analysis is a characteristic substitute for trade business measurement, which has improved a lot by time passing. Due to the fact that company’s value is calculated based on the value returned to its shareholders, in the past had been criticized for being either short-term measured or only based in past figures. Shareholder Value Analysis takes a longer-term view and is about measuring and managing cash-flows over time.  The shareholder value is calculated by estimating the total net value of the company and dividing Continue reading

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Exporter’s and Importer’s Means of Protection to Exchange Fluctuations in International Trade

When a seller quotes an export price for a product or receives an offer in terms of foreign currency, there is concern with the exchange rate fluctuations that may occur before the seller receives payment. When quoting prices in terms of the foreign currency, the exporter knows how many dollars are to be received at the current rate of exchange. However, when the customers pays in Sterling Pounds, Deutschmarks, Indian Rupees, Japanese Yen or some other acceptable foreign currency, the amount received in terms of dollars will depend upon the rate of exchange when the currency is converted. When the price is quoted in the foreign currency, the exporter accepts the risk of exchange fluctuation. Unless steps are taken to protect expected profits, a decline in exchange rates may reduce profits or even convert them into a loss. Exporter’s Means of Protection An American exporter can obtain protection against exchange Continue reading

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