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

Letter of Credit – Definition, Types and Process

Letter of Credit is one of the most popular and more secured of method of payment in recent times as compared to other methods of payment. A Letter of Credit refers to the documents representing the goods and not the goods themselves. Banks are not in the business of examining the goods on behalf of the customers. Typical documents, which are required includes commercial invoice, transport document such as Bill of lading or Airway bill, an insurance documents etc. L/C deals in documents and not goods. Definition of  Letter of Credit A Letter of Credit can be defined as “an undertaking by importer’s bank stating that payment will be made to the exporter if the required documents are presented to the bank within the validity of the L/C”. A commercial letter of credit is a contractual agreement between a bank (issuing bank), on behalf of one of its customers (buyer), Continue reading

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What is National Income?

National income is the final outcome of total economic activities of a nation. Economic activities generate two kinds of flow in a modern economy namely, product-flow and money-flow. Product-flow refers to flow of goods and services from producers to final consumers. Money flow refers to flow of money in exchange of goods and services. In this exchange of goods and services, money income is generated in the form of wages, rent, interest and profits, which is known as factor earning. Based on these two kinds of flows, national income is defined in terms of: Product flow Money flow National Income in Terms of Product Flow National income is the sum of money value of goods and services generated from total economic activities of a nation. Economic activities result into production of goods and services and make net addition to the national stock of capital. These together constitute the national income Continue reading

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Radical Innovation vs Incremental Innovation

Innovation undoubtedly became the “engine” of the progress, competitive ability and economic growth. Innovation regards as a “life-and-death matter for a firm”. However, paradox is that still some difficulties remain in understanding what exactly the innovation is and how important it is in nowadays world. Despite the fact that there are many definitions of processes of innovation, generally all innovations contain three underlying elements: newness, improvement and the overcoming of uncertainty. Newness is probably one of the most important parts of innovation, although such newness could be understood as something novel to the form or industry as a whole. Improvement is related to the fact that firms need to find the superior quality to those products which currently exist in the market. Overcoming uncertainty means that such improvement is determined by the market and that market need have to be clarified. In addition, it is essential to remember that all Continue reading

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Activities Involved in Human Resource Planning

The Human Resource Planning includes managerial activities that contribute to set the company’s future objectives. It also determines appropriate means and ways for achieving those objectives. Where as organizational planning facilitates the realization of the company’s future objectives and determines appropriate means for achieving those objectives. Human resource planning determines the determinants of changing job requirement. Technological advancement that requires introduction of new equipment, product, and process and invariably resulting in changes in jobs and job structure in an organization can be dealt with proper manpower planning. It is therefore, manpower planning is essential for the organization to meet the demands of future job requirements in order to survive and remain competitive. Otherwise, the organizations experiencing the effect of rapid technological change will face the shortages of skilled employees in the absence of effective human resource planning. Activities in  Human Resource Planning Forecasting future human resource needs/ Demand forecasting: Demand Continue reading

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Theories of Motivation: Abraham Maslow’s Need Hierarchy Model

In 1943, Abraham Maslow’s article, “A Theory of Human Motivation ” appeared in the Psychological Review, which  were further expanded upon in his book:   Toward a psychology of well being, Abraham H. Maslow attempted to formulate a needs-based framework of human motivation and based upon his clinical experiences with people, rather than as did the prior psychology theories of his day from authors such as Freud and B.F. Skinner, which were largely theoretical or based upon animal behavior. The basis of Maslow’s motivation theory is that human beings are motivated by unsatisfied needs, and that certain lower  factors need to be satisfied before higher needs can be satisfied. According to Maslow, there are general types of needs (physiological, survival, safety, love, and esteem) that must be satisfied before a person can act unselfishly. He called these needs “deficiency needs.” As long as we are motivated to satisfy these cravings, Continue reading

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9 Steps to Implement a Total Quality Management System

Total Quality Management (TQM) is a function to develop quality and performance which resolve surpass consumer expectations. It can accomplished by integrate the quality associated functions and processes through the organization. TQM looks at the particular quality measures apply by organization as well as managing quality development and design, maintenance and quality control, quality assurance and quality improvement. Furthermore, TQM takes account into all quality measures that taken at all stages and concerning all organization employees. Besides that, Total Quality Management (TQM) plans in an effort to maintain competitiveness in categorize to attain consumer satisfaction in the increasing of competition around the world. TQM is an integrative idea of administration for incessantly civilizing the quality of progression and products. TQM is the purpose on the basis that the quality of the products and processes is the dependability of everybody who is concerned with the conception or utilization of the services Continue reading

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