Case Study on Entrepreneurship: Larry Page

Business Analysis

The Boundaryless Career: Modern Contemperory Perspective on Career

Human Resource Management

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

System – Concept, Meaning, Definition and Characteristics

Scholars in various disciplines who are concerned about the tendency toward the fragmentation of knowledge and the increasing complexity of phenomena have sought a unifying approach to knowledge. Luduring von Bertalanlfy, a biologist, developed a general systems thereby that applied to any arrangement of elements such as cells, people, societies or even planets. Norbert Wiener, a mathematician observed that information and communications provides connecting links for unifying fragments or elements, His systems concept of information theory, which shows the parallel between the functioning of human beings and electronic systems, laid the foundation for today’s computer systems. Herbert A. Simon, a political scientist, related the systems concept to the study of organizations by viewing an ongoing system as a processor of information for making decisions. Systems analysis and information systems were founded in general systems theory, which emphasizes a close look at all parts of a system. Too often analysts focus Continue reading

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Process Costing – Definition, Steps and Charactristics

In accounting, process costing is a method of assigning production costs to units of output. In process costing systems, production costs are not traced to individual units of output. Costs are assigned first to production departments and then to units of output as they move through the departments. The process costing method is typically used for processes that produce large quantities of homogeneous products. The process costing method is in contrast to other costing methods, such as product costing, job costing, or operation costing systems. Using the process costing method is optimal under certain conditions. If the output products are homogeneous, that is, the units of output are relatively indistinguishable from one another, it may be beneficial to use process costing. If the output products are of low value, meaning each individual unit of output is not worth much, it may be beneficial to use process costing. And if it Continue reading

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Planning and conducting interviews

Before meeting for an interview, both the interviewer and the interviewee have to make planning and preparation. Many job interviews are failures because either the applicants or the interviewer lack the skills of planning for them. The interviewer must have clear and detailed information about the post for which the candidates are to be interviewed. He should be in a position to tell the candidate the working conditions, details of job operations and other responsibilities. He has to make proper seating arrangement for the candidates in such a way that they may feel relaxed in the waiting room before facing the interviewer. He should know what type of candidate is required for the job. He must have the bio-data of all the candidates who might attend the interview. Similarly, the applicants too must prepare themselves for the interview situation. He has to know his own abilities in carrying out the Continue reading

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What is Seed Capital?

Seed capital means the initial capital used to start a business.  Seed capital often comes from the company founders’ personal assets or from friends and family.  The amount of money is usually relatively small because the business  is still in the idea or conceptual stage.  Such a  venture  is generally  at a pre-revenue stage and  seed capital is needed for  research & development, to cover initial operating expenses  until a product or service can start generating  revenue, and to attract the attention of venture capitalists. Seed capital is needed to get most businesses off the ground. It  is considered a high-risk investment, but one that can reap major rewards if the company becomes a growth enterprise. This type of funding is often obtained in exchange for an equity stake in the enterprise, although with less formal contractual overhead than standard equity financing. Banks and venture capital investors view seed capital Continue reading

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Theories of Motivation: McClelland’s Three Need Model

Each person tends to develop certain motivational drives as a result of his cognitive pattern and the environment in which he lives. David McClelland gave a model of motivation, which is based on three types of needs, namely, achievement, power and affiliation. They are stated below: Need for achievement (n-Ach): a drive to excel, advance and grow; Need for power (n-Pow): a drive to influence others and situations; and Need for affiliation (n-Aff): a drive for friendly and close interpersonal relationships. Achievement motivation: some people have a compelling drive to succeed and they strive for personal achievement rather than the rewards of success that accompany it. They have a desire to do something better or more efficiently than it has been done before. This drive is the achievement need. From researches into the area of achievement need, McClelland found that high achievers differentiate themselves from others by their desire to Continue reading

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Case Study: The Daewoo Group and the Asian Financial Crisis

In 1999, Daewoo Group Korea’s second largest chaebol, or family-owned conglomerate, collapse under $57 billion in debt and was forced to split into independent companies. The Asian financial crisis and its aftermath finally took its toll on the expansion-minded Daewoo and forced both Daewoo and the Korean government to decide how to dissolve the chaebol. Kim Woo-Choong started Daewoo in 1967 as a small textile company with only five employees and $10,000 in capital. In just 30 years, Mr. Kim had grown Daewoo into a diversified company with 250,000 employees worldwide as well as over 30 domestic companies and 300 overseas subsidiaries that generated sales of more than $100 billion annually. However, some estimated that Daewoo and its subcontractors employed 2.5 million people in Korea. Although Daewoo started in textiles, it quickly moved into other fields, first heavy and chemical industries in the 1970s, and then technology intensive industries in Continue reading

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