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

Case Study on Entrepreneurship: Bill Gates

Bill Gates was born in Seattle on October 28, 1955 to his parents, Mary and William Gates II.   He has two sisters. His father was a prominent Seattle lawyer, and his mother was a schoolteacher, University of Washington regent and chairwoman of United Way International. His great-grandfather was a state legislator and mayor, and his grandfather was the vice president of a national bank. Bill strongly believes in hard work. He believes that if you are intelligent and know how to apply your intelligence, you can achieve anything. In school, he had an excellent record in mathematics and science. Still he was getting very bored in school and his parents knew it. Bill’s parents came to know their son’s intelligence and decided to enroll him in prestigious Lakeside private prep school, known for its intense academic environment. Bill first started working with computers at the school. His mother was Continue reading

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Introduction to Production Management

Meaning Of Production Management A few definitions of production management are being reproduced here under to understand the meaning of the term clearly: “Production management is the process of effectively planning and regulating the operations of that part of an enterprise which is responsible for actual transformation of materials into finished products”. Elwood S. Buffa has defined the term in a broader sense as: “Production management deals with decision making related to production process so that the resulting goods or services are produced according to specifications, in amounts and by the schedules demanded and at a minimum cost”. Production management, thus, is assigned with the following tasks. Specifying and accumulating the input resources, i.e., management, men, information, materials, machine and capital. Designing and installing the assembling or conversion process to transform the inputs into output, and Coordinating and operating the production process so that the desired goods and services may Continue reading

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Case Study on Business Ethics: The AIG Scandal

American International Group, Inc is a company whose operation began back in 1919. It was established back then by Cornelius Vander Starr as an insurance agency in Shanghai, China. AIG left china in 1949 after Starr had established himself as the westerner the sell insurance to the Chinese people. AIG headquarters then shifted from china to New York City, which is still the headquarters up to date. It is from here that AIG began its expansion tapping into other markets such as the Latin America, Asia, Middle East and Europe through use of its subsidiaries. It was in 1962 when Starr transferred management of AIG United states holdings to Maurice R. Greenberg. Greenberg introduced policies that made the company shift from its original personal insurance background to anew high market corporate targeted cover. The new management under Greenberg went on to focus mainly on selling AIGs’ insurance packages through independent Continue reading

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A Brief Introduction to Six Sigma Methodology

The creation of Six Sigma Methodology is understood to be traced back to Carl Friedrich Gauss and introduced as a measurement in variation in organizations.  Six Sigma name comes from the Greek alphabet “Sigma” which mathematician or statisticians uses in statistics to find a standard deviation.  Motorola was the first company to use Six Sigma, to measure the quality of products and services from within.  In the process of Motorola using Six Sigma, it helped them to pinpoint mistakes such as finances and operations.  Six Sigma’s core philosophy was based on business process and customer requirements, extensive training to employees, focus on the organization, and creating an improved system. Six Sigma Methodology describes a business improvement approach that seeks to find and eliminate causes of defects and errors in manufacturing and service processes by focusing on outputs that are critical to customers and a clear financial return for the organization.  Continue reading

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Applications of the Price Elasticity of Demand

The concept of elasticity of demand plays a crucial role in the pricing  decisions of the business firms and the Government when it regulates prices.  The concept of price elasticity is also important in judging the effect of  devaluation of a currency on its export earnings. If has also a great use in  fiscal policy because the Finance Ministry has to keep in view the elasticity of  demand when it considers to impose taxes on various commodities. We shall  explain below the various uses, applications and importance of the elasticity  of demand. Elasticity of demand is mainly useful in Pricing Decisions by Business Firms.  The business firms take into account the price elasticity of demand when  they take decisions regarding pricing of the goods. This is because change in  the price of a product will bring about a change in the quantity demanded  depending upon the coefficient of price elasticity. Continue reading

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Case Study: MasterCard’s Business Model

What is MasterCard? But what does MasterCard exactly do? It provides credit, debit, and prepaid cards from over 25,000 financial institutions. However, MasterCard is primarily a credit card company and specializes in the innovation of these cards throughout the world. It is a also a payment solutions company and through its three tiered business model as franchisor, processor and adviser, the company has developed a new world for its card holders and merchants. The company provides marketing, approval, and transaction services for a variety of payment products in more than 210 countries and territories. Regardless of the type of card, all of them act under the “four-party” payment system. Under this system there are obviously four types of people, the card holder, the issuing bank, the merchant, and the acquiring bank. First, the issuing bank provides their customer with a card that they market and issue throughout their locations. Then Continue reading

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