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

The Innovation Ambition Matrix

An interesting evolution of the Ansoff matrix,  the  Innovation Ambition Matrix, coined in an  article from Harvard Business Review by two recognized consultants, Bansi Magji and Geoff Tuff, entitled  ‘Managing Your Innovation Portfolio’. Innovation Ambition Matrix is  a simple six-cell model  with the vertical axis concerned with  where  an organisation is competing (ranging from serving existing markets/customers at the bottom, entering adjacent markets in the middle, and creating new markets at the top end of the axis) and the horizontal axis referring to  type of  products/assets  used  (using existing products, adding incremental products, and developing new products/assets).  The axes of the matrix are labeled as follows: “How to Win.” This is designated for the novelty of the product that you are offering to customers. Are you using existing, adding incremental, or developing new products? “Where to Play.” This measures the novelty of your customers. Will the innovation serve an existing, Continue reading

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E-Business Model – Meaning, Elements and Types

In this Globalization era the developed, undeveloped and developing countries are preparing their societies and communities for globalization. The globalization is possible only because of revolution in communication technology. The concept of global economy is emerging which is making e-business, an indivisible component of business strategy planning. Banking, tourism, shopping, hotel booking, airlines booking, auctioning and the list is non-ending. Millions of internet users just rely for their financial as well as other services on their online transactions. As more and more people have started using internet, more specifically e-business, for their day to day working, e-business has become more and more popular. The excitement of using e-services has grown and the potential for success of businesses increased. As more and more companies have started using internet for their business growth, some problems have to be understood properly and the solutions to them have to be thought carefully. At one Continue reading

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Cash Conversion Cycle (CCC)

Cash Conversion Cycle (CCC) measures ongoing liquidity from the firm’s operation is defined as a more comprehensive measure of working capital and as a supplement to current ratio and quick ratio. CCC shows the time lag between expenditure for the purchases of raw materials and the collection of sales of finished goods. CCC is a measure of the efficiency of Working Capital Management as it indicates how quickly the current assets are converting into cash. CCC comprises three components of days inventory outstanding (DIO), days sales outstanding (DSO), and days payables outstanding (DPO); Cash Conversion Cycle (CCC) = Days Inventory Outstanding (DIO) + [Days Sales Outstanding (DSO) -Days Payables Outstanding (DPO)] Days Inventory Outstanding (DIO) is a key figure that measures the average amount of time that a firm holds its inventory. It is calculated by inventory/cost of sales x 365 days. A decrease in the DIO represents an improvement, Continue reading

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Informal Recruitment – Meaning, Advantages and Disadvantages

Informal methods of recruitment and selection always have been into debate among HR experts and consultants across the globe because it is against the standard HR principles and practice. But still it exist because it gives lot of benefits to the employers. Informal recruitment methods generate better selection in the professional and qualified jobs as well when compare to formal methods. If organization hire the employees without following the complete procedure of recruitment and selection then these methods will be called informal methods like walk in interview given by employee without job announcement, applicant refer by existing employees. Word-of-Mouth (WOM) recruitment is commonly used and followed informal method across the globe with irrespective the sector and technology but the percentage vary from country to country. WOM is a reference to passing or communicate the information from person to person. WOM recruitment is getting the references from the current employee, personal Continue reading

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Traditional and Modern Innovative Management Accounting Practices

In last many years, few management accounting innovations has been developed. Managers have to make decision on a daily basis as well make decisions regarding the future and how to survive and grow in an energetic market place with ever growing uncertain circumstances. Traditional and modern management accounting system give relevant information to all levels of management, financial and other information to make decisions about planning, control of operations and identifying opportunities to add value. The modern management accounting practices are typically different from that of traditional management accounting as they enable managers to make sound decisions to minimize cost as well in the same time add value to the products and services by improving the quality of products, which is required by the customers, and reduce waste. In addition, the modern management accounting systems allow the organisation as whole to develop the innovative capacity of the organisation and flexibility Continue reading

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3 Levels of Grid Computing Deployment

Grid computing is the application of several computers to a single problem at the same time – usually to a scientific or technical problem that requires a great number of computer processing cycles or access to large amounts of data. Computational grids that couple geographically distributed resources are becoming the effective computing platform for solving large-scale problems in science, engineering, and commerce. According to John Patrick, IBM’s vice president for Internet strategies, “the next big thing will be grid computing.” Although Grid computing is firmly ensconced in the realm of academic and research activities, more and more companies are starting to turn to it for solving hard-nosed, real-world problems. Grid computing is emerging as a viable technology that businesses can use to wring more profits and productivity out of IT resources –and it’s going to be up to you developers and administrators to understand Grid computing and put it to Continue reading

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