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

Organizational Culture – Development and Importance

Management Principles

Five Important Organizational Cultural Models

Management Principles

Benchmarking Analysis

In a complex, dynamic, fast-changing environment, companies must strive for superiority in order to survive. Competitive edge cannot be achieved or maintained by setting goals based on past or even present performance. Benchmarking is a management practice that can be used to pursue excellence. It does this by identifying, comparing and emulating best practice wherever it occurs. Read More:  Benchmarking as a Strategic Business Tool Benchmarking is defined as a continuous systematic process of evaluating companies recognized as industry leaders, to determine business and work processes that represent best practices and establish rational performance goals. It is a search for industry best practices that lead to superior performance. It illustrates how good a company currently is in comparison to its competitors, that is benchmarking analysis demonstrates what others are doing as well as what others are achieving. Benchmarking analysis is an integral part of the organizational improvement process and it Continue reading

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Case Study: Corporate Social Responsibility at The Body Shop

The Body Shop (TBS) has developed 2500 stores in 60 countries with a range of over 1,200 products in approximately 30 years, and is the second largest cosmetic franchise in the world. After the first TBS’s outlet founded in 1976, the company has experienced rapid growth and with expanding rate of 50% annually. When its stock first obtained a full listing on the London Stock Exchange, its price increased by more than 500%. In 1999, TBS was even voted as the second most trusted brand in UK by the Consumers Association. The founder, Anita Roddick had received numerous awards including Dame Commander of the British Empire for her contributions. TBS’s success is hard to observe from the extrinsic value but the ethical value which make the success of TBS so legendary and inspiring. Anita Roddick, founder of TBS first entered the industry by using £4,000 to open a small stand-alone Continue reading

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Career Development – Meaning, Definition and Stages

The concept of career development is of growing concern to organizations since it matches the needs of a business with the career goals of employees. Formulating a career development plan can help employees to do their jobs more efficiently. Additionally, these plans can be beneficial for employees who might want to move up in a company or look for other jobs in the future. Today, challenging organizations have developed new concerns for the career development of their employees. They put greater emphasis on ‘career’ with coherent induction, training and development, increased job security by the accrual of experience and qualifications valued in the labor market. Since a high majority of workers change their careers at midlife, it becomes evident that career development programs are needed throughout the life cycle. Other major reasons for this concern are: The growth and productivity of organizations depend on the effectiveness of employee performance. A Continue reading

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Entities which can register as FII’s in India

Entities who propose to invest their proprietary funds or on behalf of “broad based” funds (fund having more than twenty investors with no single investor holding more than 10 per cent of the shares or units of the fund) or of foreign corporate and individuals and belong to any of the under given categories can be registered for Foreign Institutional Investors (FII’s). Pension Funds Mutual Funds Investment Trust Insurance or reinsurance companies Endowment Funds University Funds Foundations or Charitable Trusts or Charitable Societies who propose to invest on their own behalf Asset Management Companies Nominee Companies Institutional Portfolio Managers Trustees Power of Attorney Holders Banks Foreign Government Agency Foreign Central Bank International or Multilateral Organization or an Agency thereof Some of the above mentioned types are described below: Pension funds: A pension fund is a pool of assets that form an independent legal entity that are bought with the contributions Continue reading

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The Role of Intelligence in Strategy Formulation

Strategic management is that ideas and injunctions that enable the organization achieve its objective or long-term target to perform a better performance. The purpose of strategic management is to seek the opportunities for better future of the organization. Generally, good strategic management practices can improve the organization performance and achieve the organization target objectives. The strategies on an organization are made by the management itself to ensure the successful of the organization. The strategic management process consists of three stages which are strategy formulation, strategy implementation and strategy evaluation. Strategy formulation want to ensure that the organization achieve the objectives that they have been made. Strategy formulation includes the decision on what business to conduct, how to allocate the resources, and whether want the business join or enter to international market. Besides, strategy formulation phase includes developing a vision and mission, identifying an organization external opportunities and threats, determining internal Continue reading

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Competition in Shipping Industry

Shipping is a competitive industry. The demand for shipping services is a derived  one. Shipping services do not have alternative applications. So amongst ship owners  competition arises to corner the existing traffic. The causes for the competition are  as follows: Freedom of use of a certain highways:  The permanent way of ocean being a gift of  nature, which is free. It is open to all persons and countries of the world without  acquiring any rights to float the ships and steamers. Except for some restrictions  in coastal waters of the countries, the ship are free to move anywhere on the sea  and it invites international competitors. Small investment: Shipping requires small investment to start the sailings. The  capital investment in construction of permanent way, signals, bridges, tunnels,  culverts and platforms etc is not there in purchasing a steamer or a ship. The  facilities of loading, unloading and  harboring  are maintained Continue reading

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