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

Current Account Convertibility

Current account convertibility refers to freedom in respect of payments and transfers for current international transactions. In other words, if Indians are allowed to buy only foreign goods and services but restrictions remain on the purchase of assets abroad, it is only current account convertibility. As of now, convertibility of the rupee into foreign currencies is almost wholly free for current account i.e. in case of transactions such as trade, travel and tourism, education abroad etc. The Government of India introduced a system of Partial Rupee Convertibility (PCR) (Current Account Convertibility) on February 29,1992 as part of the Fiscal Budget for 1992-93. PCR is designed to provide a powerful boost to export as well as to achieve as efficient import substitution. It is designed to reduce the scope for bureaucratic controls, which contribute to delays and inefficiency. Government liberalized the flow of foreign exchange to include items like amount of Continue reading

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Strategic Considerations in the Product Life Cycle Concept

A Product in its life cycle under goes a lot of stages, sales and profit of a product shows a lot of variation in each stage so it becomes important for a marketer to know the marketing situation and where his product is placed in Product Life Cycle (PLC),thus impacting the marketing strategy and the marketing mix. Knowledge of the product’s life cycle can provide valuable insights into ways the product can be managed to enhance sales and profitability. Marketing activities are heavily dependent on the stage in the product life cycle. Product Life Cycle has four stages: Introduction Growth Maturity Decline In reality very few products follow such a prescriptive cycle. The length of each stage varies enormously. For example Fashion products tend to have a short life cycle i.e. the time between the launch of a product and the point at which the product is mature is very Continue reading

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Vehicles for Upward and Downward Communication in Business

The following checklists of suggested vehicles for upward and downward communication can help to gauge an organization in performing well with respect to internal communication. General manager’s routine staff meeting with supervisors: In addition to production issues, these staff meetings should also include topics of interest to employees with respect to business developments, company affairs, and any other topics that and any other topics that should be communicated by supervisors to rank and file. General Manager’s routine meeting with non-supervisory employees: In addition to production issues, these meetings should emphasize issues that involve pay and benefits, problems, complaints, rumors, and questions. Supervisor’s routine meeting with employees: Upper management should ensure that supervisors have routine meetings that cover topics beyond production that are of interest to employees. In many environments, there is a tendency for supervisors to overlook these important communications vehicles while under pressure to produce. Employee newsletter for home Continue reading

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Damages for Breach of Contract

Damages are a monetary compensation allowed to the injured party by the Court for the loss or  injury suffered by him by the breach of a contract. The object of awarding damages for the breach of contract is to put the injured party in the same position, so far as money can do it, as if he had not been  injured, i.e. in the position in which he would have been had there been performance and not breach. This  is called the doctrine of restitution. The rules relating to damages may be considered as under: 1. Damages arising naturally – Ordinary damages When a contract has been broken, the injured party can recover from the other party such  damages as naturally and directly arose in the usual course of things from the breach. This means that the  damages must be the proximate consequence of the breach of contract. These damages Continue reading

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Case Study of Starbucks: Creating a New Coffee Culture

Is it possible to convince ordinary Americans who routinely open 3-pound value cans of coffee, shovel the grounds into a paper filter, push a button, and go about their business to suddenly change their ways? Will they be willing to spend $2 or more per day on the same item? Will this eventually evolve into a $1400 per year habit of a latte and a scan each day? The answer to these questions, according to Starbucks, is “absolutely!” Starbucks began as a coffee importing firm. Howard Schultz, an employee in the organization, toured Italy in the early 1980s and watched as crowds of city dwellers began each morning with a stop at a coffee bar. Schultz tried to convince the owners of Starbucks to do something similar in the United States and was roundly rejected. Quitting the firm and launching out on his own quickly turned into a lucrative decision Continue reading

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Price Elasticity Of Demand – Concept and Types

The price elasticity of demand measures the degree of responsiveness of quantity demanded for a certain commodity to the change in its price. In other words, the price elasticity of demand is defined as the ‘ratio of percentage change in the quantity demanded to the percentage change in price. It can be expressed as follows: Price elasticity of demand (ep) = Percentage change in quantity of demand / Percentage change in price Where, ep = Coefficient of price elasticity of demand. The price elasticity of demand is always negative due to the inverse relationship between the price and quantity demanded. But for the sake of simplicity in understanding the magnitude of response of quantity demanded to the change in the price we ignore the negative sign and take into account only the numerical value of the price elasticity of demand. Types of Price Elasticity of Demand There are five types of Continue reading

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