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

Financial Accounting – Definition, Nature, Scope and Limitations

MEANING OF ACCOUNTING Accounting is the process of recording, classifying, summarizing, analyzing and interpreting the financial transactions of the business for the benefit of management and those parties who are interested in business such as shareholders, creditors, bankers, customers, employees and government. Thus, it is concerned with financial reporting and decision making aspects of the business. The American Institute of Certified Public Accountants Committee on Terminology proposed in 1941 that accounting may be defined as, “The art of recording, classifying and summarizing in a significant manner and in terms of money, transactions and events which are, in part at least, of a financial character and interpreting the results thereof”. DEFINITION OF FINANCIAL ACCOUNTING The term ‘Accounting’ unless otherwise specifically stated always refers to ‘Financial Accounting’. Financial Accounting is commonly carries on in the general offices of a business. It is concerned with revenues, expenses, assets and liabilities of a business Continue reading

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Aligning HR Strategy with Organizational Strategy

Business Strategy emphasizes how it intends to succeed in its chosen market place. It mainly focuses on competitive advantage. Business Strategy helps to establish the direction in which the organization is going in relation to its environment. The Business Strategy of an organization must reflect the intentions of managers about what they expect to achieve over a stated period of time. Business Strategy is therefore, about beating competitors in meeting customers needs, but this does not mean that a Business Strategy is the same thing as a marketing strategy. Business Strategies should take into account the changing needs and critical resources needed to carry out the strategic aims. Thus, organizations must unavoidably make choices about how they would pursue competitive advantage. Business plans are prepared to work on three to five years cycle and annual business plans are formed within this. These plans consist of strategies like innovation, cost reduction, Continue reading

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Objectives of International Taxation

The main objectives of International Taxation are the Neutrality and Equity. Tax Neutrality A neutral tax is one that would not influence any aspect of the investment decision  such as the location of the investment or the nationality or the investor. The basis justification  for tax neutrality is economy efficiency. World welfare will be increase if capital is free to  move from countries were the rate of return is low to those where it is high. Therefore, if the  tax system distorts the after-tax profitability between two investments or between two investor  leading to a different set of investments being undertaken, then gross world product will be  reduced. Tax neutrality can be separated into domestic and foreign neutrality.  Domestic neutrality is an compasses the equal treatment of any citizen investing at home and citizen investing abroad. The key issues to consider here are whether the marginal tax  burden is equalized Continue reading

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Need of Workers Participation in Management

The concept Worker’s Participation in Management (WPM) is a broad and complex one. Depending on the sociopolitical environment and cultural conditions, the scope and contents of participation may change. In any case, a common thread running through all interpretations is the idea of associating employees in managerial decision-making. The view expressed by the International Institute for Labor Studies (Bulletin 5) is worth quoting here. Worker’s Participation in Management  has been defined as, “the participation resulting from practices which increase the scope for employee’s share of influence in decision-making at different tiers of organizational hierarchy with concomitant assumption of responsibility”. The concept of worker’s participation in management crystallizes the concept of Industrial Democracy, and indicates an attempt on the part of an employer to build his employees into a team which work towards the realization of a common objective. The participation of each worker in management affairs should strictly confine to Continue reading

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Business Organizations in a Global Context

In the recent past, businesses have seen a change in the economic setting. The domestic market is no longer able to meet the demands of the globalized people. Businesses have developed to ensure it thrives in the age of globalization. This development has made many domestic businesses become a household name worldwide. Besides globalization, an improved communication technology has also been a key factor in the success of these globally operating organizations. This allows efficient communication and swift access to global markets. However, in order to operate globally, an organization faces many challenges which include HR issues, financial problems, cultural differences and legal issues. In order to succeed, a multinational firm is expected to comply with the host country’s laws, regulations, policies, customer preferences and business practices. Management of operations globally across different cultures and varying market requirements is both challenging and full of opportunities. In the wake of increasing Continue reading

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Operational Decisions – Meaning and Characteristics

Operational decisions are what make your business strategy real and ensure that your organization runs effectively, right down to the front-lines interacting with your associates. To ensure that operational decisions are effective, you need to manage operational decision making.  Operational decisions helps the organization to understand some fundamental cost-volume relationship relate to the operation in the company. In operational decision making, the decision makers have to consider about volume, latency, variability, managing risk, self service and personalized. Volume is the number of decisions of a specific type that decision makers made must be high. The volume can cause problems or exacerbate another decision problem, such as compliance and risk assessment. Besides that, latency means when you could foresee problem is coming but still couldn’t change how you are going to make decision in time. So you might have an operational problem. The change in mind-set required is akin to the Continue reading

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