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

Stakeholder Expectations and Corporate Social Responsibility (CSR)

Stakeholders can be primary or secondary. Primary stakeholder groups comprise of employees, customers, investors, suppliers, government, and community with whom the corporation may have a formal, official or anybody who has claimed on the firm’s even though it is not significant. They consist of both internal and external stakeholder groups. Internal stakeholders comprise of employees and investors which are shareholder or bondholder, external stakeholders are the customers, communities, suppliers, government, and the environment which claimed on the firm’s if any damage occurs. Secondary stakeholders are media and special interest groups towards a firm where they didn’t have any contact with the firm, they just act like a spectators. Stakeholder theory has a number of strengths and weaknesses in its capacity to address issues of low-wage work. Classifying a group as a stakeholder has moral import and significant outcomes which means that the classifying the stakeholder can ensure that their problems Continue reading

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Management Control Process

Controlling function of management can be defined as comparison of actual performance with the planned performance. If there is any difference or deviation then finding the reasons for such difference and taking corrective measures or action to stop those reasons so that future thee is match between actual and planned performance. The meaning of controlling makes it clear that controlling function is undertaken for right and timely implementation of plans. Steps Involved in the Management Control Process Management control process is the  continuous and ongoing dynamic  process of monitoring  performance and taking action to  ensure desired results. 1. Setting Up of (target) Standards Standards mean target or the yardstick against which the actual performance is measured. The standards must be achievable, high or very high standards which cannot be achieved are of no use. Standards must be set up keeping in mind the resources of the organization and as far Continue reading

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What is Servant Leadership?

In many situations we are able to draw associations or determine one situation resembles another. When individuals in leadership roles give of themselves so that others may have it is often associated with a negative connotation. Although giving and serving is not viewed in the political or religious aspect, leaders tend to develop their own views and formulate ideas that have been tampered with by politician or religious leaders. Many of the political and religious leaders have a major influence of the day-to-day operation and views of society. We first have to know what leadership is. Leadership is the ability to get other to follow you willingly. A leader must have a vision and know exactly where to go. They also have to take the vision and act upon it and not sit back and let the followers do all the work. Within the vision, they have to communicate with Continue reading

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Meaning of Financial Intermediaries

With advances in computer technology, one can transfer money instantly, anywhere in the word, you can trade your funds across major stock exchanges online, you can use your credit card across the globe and so on. Lending and borrowing of money is made simple by financial institutions called financial intermediaries. Financial intermediaries such commercial banks, credit unions and brokerage funds carryout these transactions on your behalf. A financial intermediary is a financial institution that borrows from savers and lend to individuals or firms that need resources for investment. The investments made by financial intermediaries can be in loan and/or securities. Basic role of financial intermediaries is transforming financial assets that are less desirable for a large part of the public into other financial asset, which is preferred more by the public. This transformation involves at least four economical functions: providing maturity intermediation, risk reduction via diversifications, reducing the costs of Continue reading

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The Strategic Position and Action Evaluation Matrix (SPACE)

Strategic Position and Action Evaluation Matrix  (SPACE) is “an approach to  hammer out an appropriate strategic posture for a firm and its individual  business.”  SPACE is an analysis of the following four dimensions in as in a two-dimensional  portfolio analysis and involves a consideration of: Company’s competitive advantage Company’s financial strength Industry strength Environmental stability Various factors are evaluated for determining each of the dimensions  and they are summarized below: Dimensions Factors Evaluated Company’s competitive advantage Market Share Product Quality Product life cycle Product Replacement cycle Customer Loyalty Competitor’s Capacity Utilization Technological knowhow Vertical integration Company’s Financial Strength Return on investment Leverage liquidity Capital Required/Available Cash Flow Ease of exit from market Risk involved in business Industry Strength Growth potential Profit potential Financial Stability Technological know how Resource utilization Capital intensity Ease of entry into market Productivity Capacity Utilization Environmental Stability Technological charges Rate if inflation Demand variability Prices of Continue reading

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Major Benefits of Branding

Branding is undertaken to help support sales and revenue generation; stimulating initial sales and then retain sales. By creating a strong brand name with the associations identified above in terms of brand identity, the consumers perceptions may be influenced which potential to impact on the purchase decision. When a consumer makes a purchase, they will traverse the purchase process model, usually defined as occurring in five stages; need/desire recognition, information search, evaluation of alternatives, purchase decision and post purchase behavior. Branding has the potential to impact across all of these stages, potentially influencing the process in favor of that particular brand. Strong brands have the potential to stimulate the perception of a need or a desire; as seen with Coca-Cola and the sound of the bottle opening included in the advertisements, often accompanied by images of an apparently refreshing drink, seeking to stimulate thirst. Apple have also been good at Continue reading

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