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

Entrepreneurship Motivation among Students in India

The Indian economy was previously highly depended on agriculture; however, the current development in the industrial and service sectors requires entrepreneurship to also parallely progress, so, entrepreneurship in India requires ample motivation. Many aspects play a role in developing entrepreneurship: Educational institutions help develop requisite qualities like leadership and team spirit, help in the development of business plans, and the gaining of financial support, besides setting up TBIs and EDCs. Established businesses can help with internship, apprenticeship, and collaborations. Small scale industrial associations can also act as facilitators in prototype labs, and expositions. It is the view of a number of first generation entrepreneurs that entering into entrepreneurship demands a lot of drive and passion. Not only is the entrepreneur expected to be inspired by the idea behind the business, but business man must also have ample leadership potential in order to be able to take the responsibility in case Continue reading

Abey Francis

Essential Skills for Project Managers

To be a good project manager, it is important to possess several skills in order to manage the project in the organization. Project managers need to have a wide variety of skills which can help them to do the best in project management. All the skills that possess by the project manager is determinant of the success of the project in project management. It is to fulfill the responsibilities as the project manager. There are several major knowledge and skill categories for project manager. Skills requirement of the project manager divided into four categories. Below are the four major knowledge and skills categories of the project manager. Project management process skills: Project Management process skills are the knowledge and skills related to the mechanism of project management. The project manager should be knowledgeable about tools, techniques and process technology in project management as well able to apply them in real Continue reading

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4 Important Types of Decentralization

The term “decentralization” embraces a variety of concepts which must be carefully analyzed in any particular country before determining if projects or programs should support reorganization of financial, administrative, or service delivery systems. Decentralization—the transfer of authority and responsibility for public functions from the central government to subordinate or quasi-independent government organizations and/or the private sector—is a complex multifaceted concept. Different types of decentralization should be distinguished because they have different characteristics, policy implications, and conditions for success. Types of decentralization include political, administrative, fiscal, and market decentralization. Drawing distinctions between these various concepts is useful for highlighting the many dimensions to successful decentralization and the need for coordination among them. Nevertheless, there is clearly overlap in defining any of these terms and the precise definitions are not as important as the need for a comprehensive approach. Political, administrative, fiscal and market decentralization can also appear in different forms and Continue reading

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Organizational Chart – Meaning, Definition, Features, Types, Advantages and Limitations

Organizational structure of a company can be shown in a chart. Such chart indicates how different departments are interlinked on the basis of authority and responsibility. It is a simple diagrammatic method of describing an Organizational structure. It indicates how the departments are linked together on the basis of authority and responsibility. Such organizational chart provides information of the organizational structure at a glance. Organizational chart is like a blue print of a building. It indicates the number and types of departments, superior-subordinate relationship, chain of command and communication. According to George Terry, organizational chart is “a diagrammatical form which shows important aspects of an organization, including the major functions and their respective relationships, the channels of supervision and the relative authority of each employee who is in-charge of each respective function”. Features of Organizational Chart The definition noted above indicates the following features of Organizational charts: Organizational chart is a Continue reading

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Influence of Interest Rate on Exchange Rates

Traditional macroeconomic exchange-rate models are based on fundamental analyses. In these models, the basic force that drives currency’s rate comes from the balance between supply and demand of currency, for example if the demand for the U.S. dollar exceeds its supply at the current exchange-rate against the euro the price of US dollar in terms of the euro will rise. Conversely, if supply exceeds demand, the price will fall. Demand and supply factors that govern currency’s rate’s become much more complex than that because people don’t use currencies just to purchase foreign goods and services, but also for activities like cross-border investment and speculation. This opens up many other variables that must be considered when addressing exchange-rate movements, as underscored in the Federal Reserve Bank of New York’s commentary cited previously. One of the most important factors, for example, is how investors ride interest-rate differentials between countries. We know that Continue reading

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Business Level Strategy vs Corporate Level Strategy

Business level strategy is defined as an organizational strategy that seeks to determine how an organization should compete in each of its businesses. In contrast, corporate level strategy is an organizational strategy that seeks to determine what business a company should be or wants to be. At the heart of business level strategy is the role of competitive advantage. This is what sets a company apart from its competitors and gives it a distinct edge. Sustaining competitive advantage will be based on the interplay of the five forces in an industry. According to Porter (1990), these five forces are the threat of new entrants, the threat of substitutes, the bargaining power of buyers, the bargaining power of suppliers and rivalry among firms. By performing an industrial and internal analysis, a firm can then identify its competitive advantages so that it can pursue the right strategy. There are a few major Continue reading

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