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

Understanding the Body Language

Body language is an important part of communication, which, according to at least one study, constitutes around 55% of what we are communicating. If you wish to communicate well, then it makes sense to understand how you can (and can’t) use your body to say what you mean. A significant cluster of body movements is used to signal aggression. This is actually quite useful as it is seldom a good idea to get into a fight, even for powerful people. Fighting can hurt you, even though you are pretty certain you will win. In addition, with adults, fighting is often socially unacceptable and aggression through words and body language is all that may ever happen. 1. Threat Facial signals: Much aggression can be shown in the face, from disapproving frowns and pursed lips to sneers and full snarls. The eyes can be used to stare and hold the gaze for Continue reading

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Pricing of Industrial Products

The industrial marketers should understand the various aspects of the  pricing, since pricing is the most critical part of industrial marketing strategy.  Different strategies such as market segmentation strategy, product strategy, and  promotion strategy are related to pricing strategy. In order to achieve the dual  objective such as to meet the company objective and satisfy the market needs,  the industrial marketer has to integrate the various strategies.  When the members of buying committee of a buying firm, purchase a particular  industrial product, they are buying a given level of technical service, product  quality, and delivery reliability. The other elements such as the reputation of the  supplier, friendship, a feeling of security and other personal benefits flowing  from the buyer-seller relationship are also important. The bundle of attributes expecting by the buying committee  are fall under three categories. (1) Product specific attributes (2) Company  related attributes and (3) Sales personal related Continue reading

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Establishing a Grievance Procedure in Workplace

Every employee has certain expectations which he thinks must be fulfilled by the organization he is working for. When the organization fails to do this, he develops a feeling of discontent or dissatisfaction. When an employee feels that something is unfair in the organization, he is said to have a grievance. In the Industrial Relations language, Grievance is defined as anything which irritates or tends to make work conditions unsatisfactory and thereby harbors a discontent or dissatisfaction arising anything connected with the company that an employee thinks, believes or even feels, unfair, unjust. In this sense many of the controversial issues in Industrial Organizations may be said to arise as a result of incept or ill-advised handling or neglect of grievances which individually may appear trivial but collectively may become explosive. The following principles should be observed while laying down a grievance procedure in organizations: A grievance should be dealt Continue reading

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Manpower Planning Process – Problems, Barriers and Solutions

The centrality of manpower in production process of corporate entities has long been acknowledged by organization managers and administrators. It is an on-going process (integrated approach), not a once and for all phenomenon. Its process involves interrelated activities and the plan must continue to be modified to meet prevailing circumstances. As a plan, it is embedded with implementation programmes designed to ensure availability of adequate qualified persons. Such implementation programmes include recruitment and selection (employment) of required skilled personnel to perform jobs that will allow the enterprise meet both the corporate and individual goals. The plan implementation programme also entails training and development of personnel and performance appraisal as well as other related personnel administration functions. The term ‘Manpower Planning’ at organizational or corporate level is also known as micro-human resources planning and it has much to do with personnel management or personnel administration. The terms “manpower, ‘human resource”, and Continue reading

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Things to Know Before Investing in Mutual Funds

Most important of all, there are certain precautions investors should take while investing in mutual funds: Always the investor should keep a photo copy of the application form. This can be filed to know the manner in which application was made (single, joint ownership and order of ownership). Investors will also be able to see how they have signed the forms (many investors change their signatures over time; some investors have different signatures for banking and investment transactions). Investors will also know the choice they have exercised (dividend and redemption option). The investor must preserve the counterfoil/acknowledgement issued by the collecting agency. This acknowledgement has the application number. If account statement or certificate is not received, the acknowledgement is the proof of purchase, with which investors can approach the registrar and the transfer agent. It is preferable to have joint ownership so that investments will pass on to the joint Continue reading

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Marketing Concept in Marketing Management

In a modern industrial economics, productive capacity has been built up to a point where most markets are buyers markets (i.e. the buyers are dominant) and sellers have scramble hard for consumers and ultimately consumers began to occupy a place of unique importance. The business firms recognize that “there is only one valid definition of business purpose to create a customer”. In other words, the recognition of the importance of marketing leads to the acceptance of marketing concept. The marketing concept is the philosophy that firms should analyze the needs of their customers and then make decisions to satisfy those needs, better than the competition. Today most firms have adopted the marketing concept, but this has not always been the case. In 1776 in the Wealth of Nations, Adam Smith wrote that the needs of producers should be considered only with regard to meeting the needs of consumers. To better Continue reading

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