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

Skill Development Training Methods

There are some training methods followed for the development of skill and capabilities of the existing & new employees. So that, there can be improvement of the efficiency of the employees. Some selected skill development training methods are described below: 1. Transactional Analysis This type of training method is helpful to eradicate or minimize the dysfunctional aspects of personality, developed from critical assumptions assimilated during childhood. The life script is a basic concept of transactional analysis. The programme for transactional analysis may vary from one day to five days. This method of training enables participants to develop interpersonal competencies to improve relationships with self and others for changing their behavior appropriately to optimize interrelationships. As far as possible, the trainer must operate from adult state and not be personally involved in transactions between participants. The trainer must have expert knowledge of transactional analysis before interpretation of behavior. The trainer should Continue reading

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Convertible Issues – Explanation and Significance

A convertible issue is a bond or a share of preferred stock that can be converted at the option of the holder into common stock of the same company. Once converted into common stock, the stock cannot be exchanged again for bonds or preferred stock. Issue of convertible preference shares and convertible debentures are called convertible issues. The convertible preference shares and convertible debentures are converted into equity shares. The ratio of exchange between the convertible issues and the equity shares can be stated in terms of either a conversion price or a conversion ratio. Convertible Preference Shares: The preference shares which carry the right of conversion into equity shares within a specified period, are called convertible preference shares. The issue of convertible preference shares must be duly authorized by the articles of association of the company. Convertible Debentures: Convertible debentures provide an option to holders to convert them into Continue reading

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A Guide to Forming a Limited Liability Company (LLC)

If you are an emerging entrepreneur, an LLC can present as an attractive option for starting your own business due to its flexibility and personal asset protection. A company’s lack of liability protection can be risky because creditors and stakeholders can seize the owners’ and investors’ assets if the company goes bankrupt. LLC ensures that your personal assets stay safe if the company loses money, protecting entrepreneurs and investors. Continue reading this article to learn what an LLC is and how to set up your business as a limited liability company. How Limited Liability Works Limited liability companies have a hybrid business structure that integrates the concepts of a corporation and a partnership. In case of the failure of a business, LLCs allow the owners to bear only part of the responsibility. Like a partnership, the corporation is taxed as part of the owner’s personal assets so that you can Continue reading

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Warehouse Management System

Warehouse management systems (WMS) is described as the advanced technology and operating processes which optimize all warehousing functionalities. These functions begin from receipts from suppliers and ending with shipments to the customers, also including all inventory movements as well as information flows in between. Warehouse management systems are mainly associated with large and complex distribution operations. However even smaller and middle size companies are identifying the importance of WMS in today’s scenario of integrated logistics, just-in-time delivery and e- commerce fulfillment. In practical situation, Warehouse Management System is used mainly in integrating computer hardware, software and peripheral equipment along with good operating practices so as to manage inventory, space, labour, and capital equipment in ware houses and distribution centres. Implementing of WMS serves the company by increasing its competitive advantage in matters of labour cost, improval of customer service, increasing inventory accuracy, and improving of flexibility and responsiveness. A WMS Continue reading

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Sampling Errors in Research

Error is defined as , “an act, assertion, or belief that unintentionally deviates from what is correct, right, or true”. In a business research process, there is sure to be some error in the results because there is the involvement of human intelligence and the use of sampling methods that may not be always accurate. The absolute value of the difference between an unbiased point estimate and the corresponding population parameter is known as a sampling error. It arises because the data is collected from a part, rather than the whole of the population. The sampling error can be more reliable by increasing the sample size. Sampling error is defined as the error that arises in a data collection process as a result of taking a sample from a population rather than using the whole population. Sampling error is one of two reasons for the difference between an estimate of Continue reading

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Recent Trends and Developments in Purchase Management

Many companies are now confronted with diminishing growth opportunities, which results in a situation where an increase in turnover can only be realized at the expense of the competition and only with a great deal of effort. This leads to increased pressure on sales prices and consequently on cost prices and margins, which causes two developments. On the one hand it has resulted in shifts of power between purchasing and selling parties in many markets. Due to the fact that in many cases the market has changed from seller’s market to buyer’s market, the role of the buyer is now more dominant than a number of years ago. On the other hand the increasing pressure on sales prices and margins has resulted in an increased pressure on direct materials-related costs. Because the purchasing prices determine the sales prices in the industrial sector to a large extent, the company will be Continue reading

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