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

Debt Instruments – Meaning, Objectives and Features

The debt markets today are a major source of financing than the banking system. It is any market situation where debt instruments are traded. It establishes a planned environment where the debts are traded amongst the interested parties. The debt markets are known by other names based on the types of instruments are traded. For example when municipal or corporate bond are traded, debt market is called bond market whereas if notes or securities or mortgages are traded market is called credit market. The debt market is three times larger than stock/equity market. The debt markets are categorized into two other markets called money market and capital market. Money market is a subsection of the fixed income market. It specializes in short-term debts with the maturity of one-year. Capital markets specialize in long-term debts. It is a market in which financial instruments are traded by the institutions and individuals. Institutions Continue reading

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Most Important Types of Budgets in Managerial Accounting

Definitively, a budget refers to forecast of company’s incomes and expenses anticipated for a given period of time. With a budget, an organization is able to analyze how much money they are making and spending, and they are able to figure the best way to channel it among various categories and departments. Budgeting depicts the entire process of analyzing and planning using a budget. Since budgets are vital tools for management and planning, the process of budgeting generally affects all types of organizations regardless of their size and composition. Many organizations participate in budgeting process with the view of determining the most cost effective and efficient strategies of making profits and intensifying its capital and asset base. In management, budgeting guides an organization to use its scarce resources in a way that exploits the existing business opportunities well. Good budgeting concepts integrate efficient business judgment and help the management to Continue reading

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Model of Quantitative Analysis

Quantitative analysis is a scientific approach to decision making.   As a first step to decision making, decision model has to be evolved.   The decision model depends on two factors, namely the problem and the problem environment. Defining the Problem The first step in decisions making is defining the problem.   The problem (i.e. the threat, opportunity, etc.) must be fully understood as to its nature, dimensions, intensity and so on.   Take labor absenteeism.   It becomes a problem when it is rampant affecting work schedules.   (one or two absentees, here and there is no problem).   What is its nature? Deliberate absenteeism, absenteeism due to unavoidable causes, absenteeism as a mark of protest to certain managements attitudes/actions, absenteeism due to healthy/family/social reasons, etc. are indicative of the nature of the problem of absenteeism.   Specific nature must be understood, since each type of absenteeism needs a Continue reading

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Retail Store Environment

Environment is something that stands for an atmosphere which is external to the retail organisation. Retail store is a subsystem of a supra-system namely, environment because retail units cannot exist in vacuum. In selecting and developing a retail store environment, the retailer must consider its physical and psychological impacts on customer attraction, employee moral and store’s operations. Store’s operations and consumer shopping are both enhanced by a well planned and creatively designed setting. It is a mad, mad-world where ad, ad plays very important role. To appeal to the fashion conscious, hedonistic and up-scaled shopper, the store must create a theatrical environment enhanced by  colorful  displays and high-tech lighting and audio presentations. A retail store’s physical environment is a complex of the tangible elements of form reflected in the way land, building, equipment and fixtures are assembled for the convenience and comfort of both customers and the retailer. Equally significant Continue reading

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Importance of People Capability Maturity Model (PCMM)

The People Capability Maturity Model (PCMM) is a well documented set of practices that enable growing original workforce competencies. It is more of a strategic management framework for building and growing original competencies. The PCMM practices help to retain, grow and nurture competent individuals. PCMM is an evolutionary framework that guides organizations in selecting high priority improvement actions based on the current maturity of their workforce practices. It is conceptual model based on state-of-the-art workforce practices. It focuses on continuously improving the management and development of the human assets of an organization. The PCMM initiative enables an organization to gain insight into its capability for managing and developing its workforce. Organizations need to identify the strengths and weaknesses of their current human resource management practices in order to understand what   steps should be taken to improve them. The organization can then relate its strengths and weaknesses of its practices Continue reading

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Multinational Marketing Information System (MMIS)

In general, marketing research is the process wherein vital information pertaining to the market is gathered thru data acquisition and is analysed in order to help the senior management reduce the risk associated with decision-making thru the means of an effective information dissemination system. Because of this, the marketing research tool plays a vital role in the overall process of management information systems. With the expansion of countries into the global market, multinational marketing research has taken flight. Multinational marketing research is the systematic and objective acquisition of data pertaining to the market in which the company wishes to penetrate. It is a support tool for the decision makers in order to reach a sound decision that involves the proper identification and implementation of their multinational marketing strategies and programs targeting the identified market. Marketing research as part of the multinational marketing information system should be able to be utilized Continue reading

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