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

Variants of Perfect Competition Market Structure

In the previous article,  we learned about perfect competition and its features. There are some derivatives of perfect competition. The most important variants of perfect competition market structure are: 1. Effective or Workable Competition Competition among the sellers, even though it may not be perfect, can be regarded as effective if it offers real alternatives to consumers that are sufficient to compel sellers to vary quality, service and price substantially with a view to attract buyers. The prerequisites of effective competition are as follows: Ready substitution of one product for another. General availability of essential information about alternatives (its significance lies in that buyers cannot influence the  behavior  of the sellers unless alternatives are known.) Presence of several sellers, each of them possessing the capacity to survive and grow. Preservation of conditions which keep alive the basis or potential competition from others. Substantial independence of action that is each seller Continue reading

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Human Resource Metrics

Human Resources once considered a field focused on soft skills, has undergone an unprecedented change. HR now deals with complex data that can be analyzed to provide valuable information and insight and is swiftly becoming an essential means to add strategic value. The HR world is buzzing with the transformative potential of HR analytics. This field has developed at the intersection of computer science, engineering, decision making, and statistics and assists in organizing, analyzing, and making sense of uncertain situations. It has become evident that integrated and strategic HR practices considerably improve bottom-line performances. Therefore, appropriate Human Resource Metrics must be developed and applied in order to specifically illustrate the value of HR practices and activities, particularly relative to accounting profits and market valuation of the organization. This task has proven to be far more complex than anticipated, given the difficulties of measuring human assets/capital. Because HR largely deals with Continue reading

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Impact of Inflation on Working Capital Requirement

The term inflation refers to rise in general (on an average basis) price level of goods and services in the economy, i.e., fall in purchasing power of money. Working Capital is the money used to make goods and attract sales. During the period of rising prices, a firm needs more funds to finance working capital. Hence, it should be planned properly. Not under-standing the impact of inflation on working capital has been the cause of many business failures. Cost of financing the working capital rises because of increase in interest rates. Cash should never be allowed to remain idle (Time eats value of money, i.e., on one hand the  company suffers loss of interest and on the other purchasing power of wealth kept as cash declines). Good cash management can provide a major source of profit, while poor cash management can destroy a company in a short time. When the Continue reading

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Stakeholder, Dynamic Capabilities and Sustainable Development Approaches to Strategic Management

Strategic management is the process regulated and formatted by the top level management in accordance with the policies and the rules of the top level management.  These are developed in order to acquire the market share as well as to attain the goals and the objectives in the target market. The strategies developed and adopted by the management are the tools through which the efficiency could easily be enhanced in order to attain the desired goals and the objectives for the organization. Apart from these, there are certain actions which are implemented by the top level management on behalf of the directors and the organizational owners in order to attain the better and effective outcomes. For implementation of the tools and the techniques, organization is required to analyze the internal and external environment. This will help the management to adopt certain crucial set of strategies through which organization could be Continue reading

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Purchase-to-Pay Process (PTP)

Purchase-to-pay process consists of financial transactions with the suppliers in a supply chain. Purchase-to-pay process starts with the buyer making the requisition and ends with the payment to the supplier. The buyer makes a purchase requisition and it is passed on to the purchasing department for approval. After getting the approval of the purchasing manager, a purchase order is sent to the supplier. On receiving the purchase order the supplier dispatches the shipment along with the invoice. On receiving the goods, the firm checks the shipment and the invoice to confirm whether the shipment matches the purchase order and the product quality/quantity is as desired. Upon confirmation, the accounts department pays the supplier. Some of the measures to improve efficiency of purchasing transactions are discussed below. Focus on Reducing Processing Time and Costs There are various ways of reducing processing time and costs in order to expedite the purchasing process. Continue reading

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A Spiritual Perspective of Emotional Intelligence from the Bhagvad Gita

Emotions are reflective of a society’s weakness and strengths and can be disruptive and interfering when displayed at a wrong time. However, when expressed constructively it can play a role in organisational effectiveness. The ancient sacred teachings of the Bhagvad Gita can enlighten an employee to identify, interpret and apply emotions in their personal and professional life. Hinduism advocates that ‘a man should first seek wisdom and thereafter pursue material ambition’. In order to achieve self-realization, one must have perfect emotional self-control. The Indian scriptures state that our senses are like wild horses, the body its chariot and the mind its reins. Intellect is the driver. The Atman is the Lord of the chariot. If the senses are not kept under proper control, they will throw this chariot into a deep abyss. He/she who keeps the reins firm and drives this chariot intelligently by controlling the horses (senses) will reach Continue reading

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