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

Revenue Management in the Hospitality Industry

The revenue management refers to the application of business analytics methods to the consumer behavior at the micro-level and optimizes the product type, price and availability so that the revenue of the organization is maximized. The primary aim of revenue management is to assure that the right product is sold at the right moment to the right customer. The analytical methods are applied to understand the perception of the customers regarding the product value and using it to align with the price, availability and the placement of the product service. The business organization often faces questions regarding different consumer product such as how to sell them and when to sell them. The revenue management uses the data driven and analytical methods to maximize the organization’s revenue. The revenue management encompasses data mining and operational research so that the customer behavior can be identified and associated with the sales procedure of Continue reading

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Importance of Job Analysis in Human Resource Management

Job analysis can improve management efficiency for organizations in the way of gathering a comprehensive intelligence to provide comprehensive information of related work. It refers that giving particular job specific provisions and completing the work required determining what course to conduct. Job analysis consists of two parts: the job description and statement of work. Through analysis of the work input, conversion work, work output, work related characteristics, job resources, work environment background, and result the formation of job analysis – job specification (also known as the statement of work). The work of identifying information included job specifications, job summary, job duties and responsibilities, and information of qualification criteria, which facilitate the use of functions for other human resource management. Job analysis is the basis for human resources management, the quality of its analysis for module of other human resource management has a significant influence. Job analysis is also defined as Continue reading

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Some Variants of Leases

1. Direct Lease A direct lease can be defined as any lease transaction which is not a “sale and leaseback” transaction. In other words, in a direct lease, the lessee and the owner are two different entities. A direct lease can be of two types: Bipartite Lease and Tripartite Lease. Bipartite Lease In a bipartite lease, there are two parties to the transaction – the equipment supplier cum-lessor and the lessee. The bipartite lease is typically structured as an operating lease with in-built facilities like up gradation of the equipment (upgrade lease) or additions to the original equipment configuration. The lessor undertakes to maintain the equipment and even replaces the equipment that is in need of major repair with similar equipment in working condition (swap lease). Of course, all these add-ons to the basic lease arrangement are possible only if the lessor happens to be a manufacturer or a dealer Continue reading

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Advantages and Disadvantages of Organizational Change

Organizational change is an essential part of today’s globalized work life. In modern’s economy, teams and organisations face rapid change like never before. Globalization has not only boosted the markets and opportunities for more development and profit, it also provides opportunities for organisational members to process. However, in general, change processes make demands on both employees and management, regardless of the content of the change process. Facing of the tide of globalization, one of the dominant disputes that human resource professional’s face is what method to improve organizational competitive advantage in the hastily changing environment. Organisational change come about multiple reasons, it is undertaken to ameliorate the accomplishment of that particular organization or a portion of the organization, for instance, a process or team. For organisations to be able to prosper, it is essential for them to go through an important alteration at different sections during their growth. Significant organizational Continue reading

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Different Types of Costs

Profit is the ultimate aim of any business and the long-run prosperity of a firm depends upon its ability to earn sustained profits. Profits are the difference between selling price and cost of production. In general the selling price is not within the control of a firm but many costs are under its control. The firm should therefore aim at controlling and minimizing cost. Since every business decision involves cost consideration, it is necessary to understand the meaning of various concepts for clear business thinking and application of right kind of costs. A managerial economist must have a clear understanding of the different cost concepts for clear business thinking and proper application. The several alternative bases of classifying cost and the relevance of each for different kinds of problems are to be studied. The various relevant concepts of cost are: Opportunity costs and Outlay costs:  Out lay cost also known Continue reading

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RBI’s Role in Risk Management and Settlement of Transactions in the Foreign Exchange Market

The Indian Foreign Exchange (Forex) market is characterized by constant changes and rapid innovations in trading methods and products. While the innovative products and ways of trading create new possibilities for profit, they also pose various kinds of risks to the market. Central banks all over the world, therefore, have become increasingly concerned of the scale of foreign exchange settlement risk and the importance of risk mitigation measures. Behind this growing awareness are several events in the past in which foreign exchange settlement risk might have resulted in systemic risk in global financial markets, including the failure of Bankhaus Herstatt in 1974 and the closure of BCCI SA in 1991. The foreign exchange settlement risk arises because the delivery of the two currencies involved in a trade usually occurs in two different countries, which, in many cases are located in different time zones. This risk is of particular concern to Continue reading

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