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

Rumours in Business Organizations

Business Communication

Seven Sources of Innovation by Peter Drucker

The most effective way to compete in a changing environment is to churn out new products and services rapidly according to the needs of the market. Innovation helps a company to stay ahead of the pack and move into less crowded areas. No wonder all companies are talking about innovation these days. Very often, innovation is misunderstood as invention. Invention is creating new things. But innovation is all about taking new ideas to the market place. History is full of examples of many companies that developed a new technology or product but failed to take it to the market.   For example, Xerox developed many of the concepts associated with the modern day PC but failed to make a commercial proposition out of them. Seven Sources of Systematic Innovation “Entrepreneurs innovate and innovation is the specific instrument of entrepreneurship”  Peter Drucker – page 44,  Innovation & Entrepreneurship Peter Drucker refers Continue reading

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Team Based Pay System Design

There are many considerations in the designing of a team-based compensation system. After the alignment of pay with strategy, culture, and competencies of the employee, then the next step is to determine the type or types of team in a particular organization. There are four types of teams: The first is the parallel team that is defined as a part-time team that can be temporary or permanent that employees participate on in addition to their normal activities. The second type of team is a process team that carries out the work processes and is done collectively by members of a team. A project, or time-based team, is the third type of team and is the opposite of a parallel team in that members work full-time for the duration and until completion of a project. A fourth type is a hybrid organization that includes a mixture of the teams described above. Continue reading

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Causes and Prevention of Miscommunication in Business

Communication occurs at various stages (even for one particular action), in numerous ways, and for most beings, as well as certain machines. Some, if not all fields of study, commit a part of attention to communication. So when speaking about communication, it is very crucial to be sure about what features of communication one is speaking about. Definitions of communication extend widely, some recognizing that animals can communicate with each other as well as individuals, and some are narrower, only including individuals within the limits of human symbolic interaction. Miscommunication is one particular case of a lack of alignment of individual’s mental state, specifically one in which they diverge on the occurrence or results of communication. Communication is action, and thus miscommunication can be viewed as demands of action failure (when the spokesperson fails to generate the aimed result), misperception (when the audiences cannot distinguish what the spokesman intended to Continue reading

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Exchange Rate Adjustment as an Economic Stabilization Measure in 1991

The Indian rupee is linked to a basket of important currencies of the country’s major trading partners. The major objective of exchange rate policy is to adjust exchange rates in such way as to promote the competitiveness of Indian exports in the world market. Adjustments in the external value of the rupee are therefore made from time to time. The Reserve Bank of India effected an exchange rate adjustment on 1 July, 1991 in which the value of the rupee declined by about 7 to 9 per cent against the major currencies (the Pound Sterling, the US Dollar, the Deutschmark, the French Franc and the Yen). There was another exchange rate adjustment on 3 July, 1991 in which the value of the rupee declined by about 10 to 11 per cent against the major currencies. Between 28 June and 3 July, 1991, the rupee depreciated by about 18 per cent Continue reading

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Top Reasons for the Importance of Integrated Marketing Communications

More Contact Points Traditional mass media such as radio and TV is used to be a way to advertising a product, brand or service. This type of promotional strategy only can transmit the information to some of the target customers but not all. Therefore, Integrated Marketing Communication is a form of promotional strategy where all the promotional strategies are integrated so that the company able to transmit the message to all the target customers and also the customers can interact with the company brand in many ways. For example, a customer may have heard about one restaurant from their friend which they had been go there before and had a great experience dining at there. After that, the customer goes online to search information about that restaurant which include the menu and price and also make reservations. When the days come, your restaurant have to notice how cozy the place Continue reading

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Aims of Human Resource Development

Human resource development is concerned with enhancing organizational performance through effective development and deployment of organizational members. To enhance performance, a human resource developer has to ensure that the individuals in the organization has the knowledge, expertise and the right attitudes to execute their work. Human resource development aims at ensuring that the organization has the skilled, committed and well-motivated employee it needs to sustain competitive advantage by focusing on processes that develop skills, knowledge and the attitude of the employee such as training, developing, learning, educating and mentoring the employee and also by identifying and improving the skills and motivation of employees. In other to ensure that the organization as the right people to sustain competitive advantage, Human resource development engage in training, learning, development of the individual and mentoring. Training Staffs are important resources to an organization in other to achieve economic and effective performance, in other to Continue reading

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