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

Characteristics of Good Management Accounting Information

Management accounting information should comply with a various number of  characteristics including verifiability, objectivity, timeliness, comparability, reliability, understandability and relevance if it is to be useful in planning, control and decision-making. The first characteristic of management accounting information are verifiability .Verifiability means observable to outsiders, in the context of a model of information. It refers to the ability of accountants to ensure that accounting information is what it purports to be. It also means that the selected method of measurement has been used without error or bias. The outsiders cannot see them and so references to those variables in a contract between the two parties cannot be enforced by outside authorities. An example of verifiability is that of two accountants looking at the same information like inventory valuation and coming to similar conclusions. Objectivity is also one of the  characteristics that useful in planning and making decision. Accountant reliance on Continue reading

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Case Study on MNC’s Marketing Strategies: In India, it’s a Brand New Way

What do you do when you are a leading MNC and want to tap into the Indian consumer market? Look at how the second best global brands have executed their India strategy. While global market leaders have proven to be flat-footed and bookish, brands like Reebok, LG, Hyundai and Lee have stolen a march over their arch-rivals by burning the book and thinking on their feet. “Most MNC companies are run by a global manual, but those succeeded in India have shredded this manual and taken the ‘when in India, go local’ approach and developed on local consumer insight to chart their strategy,” reasons marketing consultant Harish Bijoor,CEO, Harish Bijoor Consults. Consider Lee. When it entered India in 1995, there was a very nascent market for branded apparel, much less premium jeans wear. Premium brands like Levi’s chose to play it safe by using the multi-brand outlet route, but Lee Continue reading

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SWOT Analysis of Mattel

Mattel was started in 1945 by Harold Mattson and Eliot Handler. The company was primarily focused on manufacturing doll-house furniture. Mattson eventually sold his ownership share to Handler and the company went on to manufacture a wide variety of toys. In addition to manufacturing toys, Mattel decided to sponsor the Walt Disney Mickey Mouse Club in 1955, which was a pioneering and very successful marketing step which provided direct access to millions of young potential customers. The famous Barbie (named after Eliot Handler’s daughter) was brought to market in 1959 and the company went public in 1960. After going public, gross sales increased to $75 million and the famous Hot Wheels line was launched in 1968. Over the next 20 years, there was a series of management and changes in strategy — the Handlers were forcibly removed from management in 1074 and the company proceeded to acquire non-toy business, such Continue reading

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Maximizing Productivity through Lean Thinking and Just-In-Time (JIT)

Companies aim to improve their productivity and increase their profitability. Consequently, many firms adopt effective strategies and business models that enhance their operations. Lean Thinking and Just-In-Time (JIT) models help maximize their efficiency and viability. Lean thinking involves a transformational framework that organizes human activities to deliver value to human beings while eliminating waste. Meanwhile, JIT is an inventory model that allows goods to be received from suppliers only as they are needed. The rationale for companies adopting JIT is to reduce inventory holding costs and increase inventory turnovers. Therefore, Lean thinking and JIT are significant among businesses since they help reduce costs and promote business productivity. The lean thinking framework has been adopted by many companies and has proved successful in various industrial dimensions. James Womack and Daniels Jones first used the term. The concept integrates five principles that contribute to its success: value, value stream, flow, pull, and Continue reading

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Strategic Outsourcing

The opposite of integration (a firm’s growth, in number of businesses) is outsourcing value-creation activities to subcontractors. In recent years there has been a clear move among many enterprises to outsource  non-core  or non-strategic activities.  Any function can be outsourced, if it is not critical to a firm’s success (is not one of its distinctive competencies). Outsourcing begins with a identification of a firm’s distinctive competencies–these will continue to be performed within the company. All other activities are then reviewed to see whether they can be performed more effectively and efficiently by independent suppliers. If they can, these activities are outsourced to those suppliers. The relationships between the company and those suppliers are then often structured as long-term contractual relationships. The term virtual corporation has been coined to describe companies that have pursued extensive strategic outsourcing. Advantages of Strategic Outsourcing There are several advantages of strategic outsourcing. First, by outsourcing Continue reading

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History and Background of General Motors

Automotive legend of the last century, GM, is one of the biggest corporations in the world. Although GM had big turmoils in its business, it still operates successfully in all over the universe. The aim of this assignment is to determine the GM’s business strategies with rises and falls by looking into their history, having the data of what and how did they do in their businesses and analysing their company activities. Being a leader and pioneer of the automobile industry since this sector’s infancy times , General Motors Corporation still keeps its successful place in this competitive business. Since 1908, General Motors Corporation (GM) is one of the largest auto producer in the world as measured by global industry sales, whose headquarters is in United States of America. William C. Durant was the founder of General Motors Company with being an innovator in automobile technology. As being a multinational Continue reading

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