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

Sales Planning in Retail Merchandising

Majority of retailers use a form that summarizes the basic budgetary information for a given merchandise grouping during a specified  period  normally for a period of six months.  The retailer must select the control unit for which projections will be made, before making sales estimates. The “control unit” is the merchandising grouping that serves as the basic reporting unit for various types of information namely, past, present and future. The retailer has the choice to estimate future sales for an entire store, for a merchandise division or department, or for an individual product-line or item. The most three acceptable control units can be merchandise groups, merchandise classes and merchandise categories of all these three, experts recommend merchandise categories as the basic control unit as it is generally much easier to aggregate the information than it is to disaggregate information, i.e., breaking down merchandise groups into classes and categories. This attempt Continue reading

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Tacit Knowledge versus Explicit Knowledge

Knowledge is an capability or a ability acquire the man through the understanding. To manage this knowledge human implements the process called Knowledge management.  Knowledge management is the targeted skillful and effective interaction movements in knowledge. In other words, the knowledge management is not only the managing of knowledge, but its an process of managing the organisation with a detail focus on knowledge. It is central resources that accept us to function intelligently. Knowledge management is also the transformation to other clear appearances such as traditions, technologies, books and practices within organisation of all kinds and in society in general. Procedural knowledge that carries the way of related process and action performed. Declarative knowledge is also prescribed as knowledge of knowing (something) or ‘know what’. Procedural knowledge also prescribed as process knowledge or ‘know-how’. The procedural and declaration of knowledge is used to build the structure on knowledge base. And Continue reading

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Application of General Rules of Law of Contracts to Life Insurance

A contract of insurance is a contract of utmost good faith technically known as uberrimae fide. The doctrine of disclosing all material facts is embodied in this important principles, which applies to all forms of insurance. The Proposer, who is one of the parties to the contract, is presumed to have means of knowledge, which are not accessible to the insurer, who is the other party to the contract. Therefore, the proposer is bound to tell the insurer, everything affecting the judgement of the insurer. In all contract of insurance, the proposer is bound to make full disclosure of all material facts and not merely those which he thinks material. Misrepresentation, non-disclosure or fraud in any document leading to acceptance of the risk automatically discharges the insurer from all liabilities under the contract. Application of General Rules of Law of Contracts to Life Insurance A contract of life insurance is Continue reading

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Nationalization of Indian Banks

Nationalization  is the main turning point in the history of Indian banks. After nationalization all banks were under the control of central government. Without a sound and effective banking system in India it cannot have a healthy economy. The banking system of India should not only be hassle free but it should be able to meet new challenges posed by the technology and any other external and internal factors. For the past three decades India’s banking system has several outstanding achievements to its credit. The most striking is its extensive reach. It is no longer confined to only metropolitans or cosmopolitans in India. In fact, Indian banking system has reached even to the remote corners of the country. This is one of the main reason of India’s growth process. The government’s regular policy for Indian bank since 1969 has paid rich dividends with the nationalization of 14 major private banks Continue reading

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Process of Communication – Communication Process

The most basic form of communication is a process in which two or more persons attempt to consciously or unconsciously influence each other through the use of symbols or words to satisfy their respective needs.  The communication process is dynamic, continuous, irreversible, and contextual. It is not possible to participate in any element of the communication process without acknowledging the existence and functioning of the other elements. The communication process goes through several phases. Here is a description of those phases. 1. The Sender has an Idea Difficult to think of someone “trying to make common,” to communicate, if that person has nothing to share. Yet, thinking of the sender as needing to have an idea in order to start the communication process is misleading since everything people do and everything people are communicates something to others. The intent of this phase is to start the process at a time Continue reading

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Development Stages of a Transnational Corporation

There are five stages in the evolution of the transnational corporation. These stages describe significant differences in the strategy, worldview, orientation, and practice of companies operating in more than one country. One of the key differences in companies at these different stages is in orientation. Stage One–Domestic The stage-one company is domestic in its focus, vision, and operations. Its orientation is ethnocentric. This company focuses upon domestic markets, domestic suppliers, and domestic competitors. The environmental scanning of the stage-one company is limited to the domestic, familiar, home-country environment. The unconscious motto of a stage-one company is: “If it’s not happening in the home country, it’s not happening.” The world’s graveyard of defunct companies is littered with stage-one companies that were sunk by the Titanic syndrome: the belief, often unconscious but frequently a conscious conviction, that they were unsinkable and invincible on their own home turf. The pure stage-one company is Continue reading

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