Kaizen – Understanding the Japanese Business Philosophy of Continuous Improvement

Operations Management

Role of Leaders in Shaping Organizational Culture

Management Principles

Organizational Culture – Development and Importance

Management Principles

Five Important Organizational Cultural Models

Management Principles

The Customer Satisfaction Model – Based on American Customer Satisfaction Index (ACSI)

Marketing Management

Case Study: Reasons Behind the Collapse of Research in Motion (RIM)

Jim Balsillie and Mike Lazaridis are running Research in Motion (RIM) as co-CEOs since 1993 successfully until 2011 and the company had been through a turbulent year. Analysts and investors believe that co-CEOs are ruining the company. Lazaridis takes care of the technical side (Engineering & R&D) and Balsillie is responsible for the Finance, sales and marketing.  Lazardis built Blackberry, a device which was a new type of wireless handheld solution  for companies and it created an uncontested market space with in the enterprise segment and companies saved time and money because employees can access email almost from any place at any time without having to go back to the office. Balsille sold the device successfully to Companies and Governments and created an uncontested market space with in the enterprise segment, reaching beyond existing demand to unlock a new mass of customers (B2B) that did not exist before and aggressively Continue reading

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Abey Francis

Social Innovation Concept – Fair Trade

Community and its citizens require protection from exploitation from a business person. The social innovation is one of the approaches to deal with this problem. It is the act of coming up with concepts and deploying them to resolve problems in aid to social development. The non-profit sector plays an essential role in fostering and implementing social innovation. These non-profit sectors involve themselves in policymakers, academics, practitioners and general community engagement. The sector emphases on changing the power structure to benefit defenseless groups in the society. In other words, it helps the community to have bargaining power in the economic or social life. The community engagement is the act of involving the general public in decision making on matters affecting their life. The following are categories of community engagement theory: Planning and Decision Making, Community Development, and Engaging People in Service Delivery. In Planning and Decision Making, this is where Continue reading

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The Role of Big Data in Marketing

Big data is large and complex data sets that are collected by companies and governments. The data that involve many types of information arriving in increasing volumes and with the incredibly fast rates. Big data signifies colossal volumes of data are being generated from assorted sources such as business processes, machines networks, and social media. Historically, it is a challenge to reserve the enormous volume of data, by the progression computing capacity that storage is not an issue anymore. Big data can be classified into three types of data which is structured data, unstructured data, and semi-structured data. The structured data being easily entered, processed, queried, stored and recover into a fixed format. The typical examples of structured data contain numbers and dates. The unstructured data cannot be fit or classified into a net box and the process and analysis are very hard and time-consuming. For instance, objects from blogs, Continue reading

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Rate of Exchange Under Different Monetary Standards

The term ‘rate of exchange‘ expresses the price of one currency in terms of another. Thus, it indicates the exchange ratio between the currencies of two countries. Suppose for example, one Indian Rupee is equal to 13 USA Cents. This implies that in the exchange market, one Indian Rupee will fetch 13 Cents. Just as the price of a commodity is determined by its demand and supply conditions, the price of a foreign currency (i.e., the rate of an exchange) is also determined on the basis of demand and supply of the currency. In fact, the rate of exchange of a currency will keep on changing in the foreign exchange market, due to changes in demand and supply conditions of the currency. In this section we shall study about exchange rate varies under different monetary standards. Rate of Exchange Under the Gold Standard: Under the Gold Standard the monetary authorities Continue reading

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Organization – Meaning, Definition, Importance and Principles

Meaning of  Organization Organization is the foundation upon which the whole structure of management is erected. Organization is associated with developing an outline where the overall work is divided into manageable components in order to facilitate the achievement of objectives or goals. Thus, organization is the structure or mechanism that enables living things to work together. In a static sense, an organization is a structure or machinery manned by group of individuals who are working together towards a common goal. Examples of organization are Corporations, governments, non-government organizations, armed forces, non-profit organizations etc. The term organization has been used in four different senses; Organization as Framework of Relationships: Organization refers to the structure and interactions among various job positions which are created to realize certain objectives. Organization as a process: Organization is viewed as a dynamic process and a managerial activity which is vital for planning the utilization of company’s Continue reading

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Interface Between Finance and Other Management Functions

Finance is the study of money management, the acquiring of funds (cash) and the directing of these funds to meet particular objectives. Good financial management helps businesses to maximize returns while simultaneously minimizing risks. Financial management is an integral part of overall management and not merely a staff function. It is not only confined to fund raising operations but extends beyond it to cover utilization of funds and monitoring its uses. These functions influence the operations of other crucial functional areas of the firm such as production, marketing and human resources. Hence, decisions in regard to financial matters must be taken after giving thoughtful consideration to interests of various business activities. Finance manager has to see things as a part of a whole and make financial decisions within the framework of overall corporate objectives and policies. Let us discuss in greater detail the reasons why knowledge of the financial implications Continue reading

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