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

Introduction to Service Tax

Service tax is a tax on service. This is not tax on profession, trade. Calling or employment but is in respect of service rendered. If there is no service, there is no tax. As per Webster’s Concise Dictionary ‘service’ means a useful result or product of labor, which is not a tangible commodity. Thus basically service is a value addition that can be perceived but cannot be seen, as it’s tangible. However, usage of some goods during the course of rendering the service would not mean that there is no ‘service’. It is the predominant factor in each case, which is to be studied to arrive at a conclusion. Service tax  is a  tax levied on  service providers in  India, except the State of  Jammu and Kashmir. Service Tax, introduced from the financial year 1994-95 now covers as many as 41 services within its ambit. Service sector, which has an Continue reading

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Implementation of New Economic Policy to Indian economy in 1991

Several major economic and political changes occurred during the 1970s and 1980s, which affected the developing countries and paved the way for the implementation of IMF-sponsored Structural Adjustment Policies (New Economic Policy) in India in 1991. This was due to a combination of factors such as stagnant agriculture, low levels of industrial growth and diversification, inadequate capital formation, adverse terms of trade in international markets, limits to domestic resource mobilization due to a fairly narrow tax-base, loss making public sector enterprises, over regulated and controlled economy, poor industrial productivity, huge amount of fiscal deficit, huge amount of public debt, poor rating of Indian economy by international agencies, foreign exchange crisis etc. New Economic Policy of 1991 includes globalization, liberalization and privatization (Disinvestment) Globalization means flow capital (finance in the form of foreign direct investment (FDI) and foreign portfolio investment (FPI), technology, human resource, goods and service among countries. FDI is Continue reading

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Role of Entrepreneurship in Economic Development

The entrepreneur who is a business leader looks for ideas and puts them into effect in fostering economic growth and development. Entrepreneurship is one of the most important inputs in the economic development of a country. The entrepreneur acts as a trigger head to give spark to economic activities by his entrepreneurial decisions. He plays a pivotal role not only in the development of industrial sector of a country but also in the development of farm and service sector. The major roles played by an entrepreneur in the economic development of an economy are discussed in a systematic and orderly manner as follows. Promotes Capital Formation:  Entrepreneurs promote capital formation by mobilizing the idle savings of public. They employ their own as well as borrowed resources for setting up their enterprises. Such type of entrepreneurial activities leads to value addition and creation of wealth, which is very essential for the Continue reading

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Claims in Insurance and Claims Management

Claims in Insurance Definition of claims: Claim is a right of insured to receive the amount secured under the policy of insurance contract promised by Insurer. An insurance claim is the actual application for benefits provided by an insurance company. Policy holders must first file an insurance claim before any money can be disbursed to the hospital or repair shop or other contracted service. The insurance company may or may not approve the claim, based on their own assessment of the circumstances. Individuals who take out home, life, health, or automobile insurance policies must maintain regular payments called premiums to the insurers. Most of the time these premiums are used to settle another person’s insurance claim or to build up the available assets of the insurance company. When claims are filed, the insured has to observe the settled rules and procedures and the insurer has also to reciprocate in a Continue reading

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Economic Impacts of Deficit Financing

Deficit financing can be regarded as a necessary evil which has to be tolerated, at least in the developing economies; only to the extent it can promote capital formation and economic development. This extent of tolerance is called the “safe limit of deficit financing”. This safe limit shows the amount of deficit financing that the economy can absorb and beyond which ‘inflationary forces’ may be set in motion. The economic impacts of deficit financing are: Deficit Financing and Price Level There are two opinions regarding the effect of deficit financing on the price level especially in a developing country. According to one view, deficit financing need not be inflationary in character especially if it is used during the peace time. The advocates of this view argued that: In a developing economy the existence of non-monetized sector will absorb the issue of new currency and shrink in its size over a Continue reading

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360 Degree Performance Appraisal

Traditional performance appraisals, can be both subjective and simplistic. At times, they can also be deemed to be “political”. In an attempt to improve this methodology, some companies have turned to 360 degree performance appraisals. 360 degree performance appraisals pool feedback from a department’s internal and external customers to ensure a broader, more accurate perspective of an employee’s performance. 360 degree performance appraisal is an attempt to answer the question: “How can a supervisor evaluate an employee he or she sees only a few hours each week?” Using internal and external clients 360 degree performance appraisal offer an alternative by which organizations may gain more useful performance information about employees. Because all clients/customers an employee comes into contact with can conceivably have input into the performance appraisal, this methodology can also makes them more accountable to their customers. Using a courtroom metaphor, one could say that, rather than having a Continue reading

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