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

Concept of Personality in Organizational Behavior

The term personality has been derived from the Latin word “Persona” which was associated with Greek theater in ancient times. The Greek actors commonly used to wear masks on their faces during their performances on the stage. The mask worn by the actors was called persona. Personality was thought to be the effect and influence which the individual wearing a mask left on the audience. Personality is a term that has many general meanings. Sometimes the word refers to the ability to get along well socially. For example, we speak of experiences or relationships, which are said to give a person “more personality.” The term may also refer to the most striking impression that an individual makes on other people. We may say, ‘she has a shy personality’. To a psychologist, personality is an area of study that deals with complex human behavior, including emotions, actions, and cognitive (thought) processes. Continue reading

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Managing the Industrial Sales Force

Sales force management is one of the important task for industrial  marketing managers where they take great care in selecting the right  personnel who can help them to increase their sales. They also give their  sales team proper product training, supervise their performance,  frequently motivate them by offering compensations, and at the same  time control the expenses incurred. There are various steps that are involved in the industrial sales force  management. 1. Selection of Sales Personnel Personal selling starts with selecting the salesperson who acts as the  representative of an organization. They help to create an image and  reputation of the company apart from increasing the sales by offering  various products and services to the industrial buyers. In addition to  giving the details on product features to their prospective buyers, they  offer other services like technical assistance, recommendations, ideas,  and sharing their experience. They also posses the skills that are Continue reading

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Importance of Management Control in an Organization

Importance of Management Control Control is an indispensable function of management. Without control function, the management process is incomplete. In business organizations, the need for control arises due to several factors; Firstly, it is difficult to establish fully accurate standards of performance in large and complex organizations. An executive needs all kinds of timely information, which are not always available. Control is required to judge the accurate of standards. Secondly, there are several temptations in business. Employees are entrusted with large sums of money and valuable resources. In the absence of control employees may yield, to these temptations. An efficient control system helps to minimize dishonest behavior on the part of employees. Thirdly, in the absence of control employees may become lax in their efforts and their performance may be below normal. The signals at, a busy road crossing very well illustrates the significance of control. Just as road signals Continue reading

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Benefits or Advantages of Investing in Mutual Funds

Mutual fund is an investment vehicle that pools together funds from investors to purchase stocks, bonds or other securities. An investor can participate in the mutual fund by buying the units of the fund. Each unit is backed by a diversified pool of assets, where the funds have been invested. A closed-end fund has a fixed number of units outstanding. It is open for a specific period. During that period investors can buy it. The initial offer period is terminated at the end of the pre-determined period. The closed-end schemes are listed in the stock exchanges. The investor can trade the units in the stock markets just like other securities. The prices may be either quoted at a premium or discount. In the open-end schemes, units are sold and bought continuously. The investors can directly approach the fund managers to buy or sell the units. The price of the unit Continue reading

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Foreign Exchange Restrictions

Although the direct intervention methods referred to have influenced many exchange rates, they do not fully serve the needs of countries with a continuous shortage of foreign exchange. To supplement the direct measures many countries adopted a number of foreign exchange restrictions. Most countries have employed foreign exchange restrictions from time to time. Developing countries especially have found restrictions necessary to secure compliance with their development plans. An exchange restriction plan implies that the government restricts the uses to which the available supply of exchange shall be put. Foreign exchange may be allocated specially for the payment of import bills, interest on foreign loans, and on other specific purposes. Sometimes the restrictions prevent the use of exchange for trade with a given (unfriendly) country. In the latter case the purpose may be political, but the basic reason for most foreign exchange restrictions is the shortage of foreign exchange sufficient to Continue reading

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Reverse Merger – Meaning and Example

Normally, a small company merges with large company or a sick company with healthy company. However in some cases, reverse merger is done. When a healthy company merges with a sick or a small company is called reverse merger. This may be for various reasons. Some reasons for reverse merger are: The transferee company is a sick company and has carry forward losses and transferor Company is profit making company. If transferor Company merges with the sick transferee company, it gets advantage of setting off carry forward losses without any conditions. If sick company merges with healthy company, many restrictions are applicable for allowing set off. The transferee company may be listed company. In such case, if transferor Company merges with the listed company, it gets advantages of listed company, without following strict norms of listing of stock exchanges. In such cases, it is provided that on date of merger, Continue reading

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