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

Uses and Risks of Personal Data in Big Corporations

Big Data has taken a huge role in art in creating today’s Technological Revolution. It is a phrase coined to describe the exponential volume of data we currently hold. Data is collected from a number of sources including cell phones, applications, databases, servers, etc. In return, it can then be used to find trends, patterns, and connections specifically related to how humans behave along with their interactions. This information includes likes, dislikes, preferences, and search and buyer history and is not limited to personal data such as birthdate, social security number, home address, and much more. Corporations across the globe have found new ways to use this data in everyday business functions. The collection of Big Data can be used to a company’s advantage in marketing, finance, and Government. Despite the fact that in a few situations Big Data can be hard to control, it can possibly enable organizations to Continue reading

Abey Francis

Factors to Consider When Setting Prices

In the narrowest sense, price is the amount of money charged for a product or service. More broadly, price is the sum of all the values that consumers exchange for the benefits of having or using the product or service. Price is the only element in the marketing mix that produces revenue; all other elements represent costs. Price is also one of the most flexible elements of the marketing mix. Unlike product features and channel commitments, price can be changed quickly. At the same time, pricing and price competition is the number one problem facing many marketing executive. Yet, many companies do not handle pricing well. Factors to Consider When Setting Prices A company’s pricing decisions are affected by both internal and external environmental factors. Internal Factors Affecting Pricing Decisions: Internal factors affecting pricing include the company’s marketing objectives, marketing strategy, costs and organizational considerations. 1. Marketing Objectives: Before setting Continue reading

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4 Important Types of Systems

Systems have been classified in different ways. Common classifications are: Physical or abstract systems Open or closed systems Deterministic or probabilistic systems Man-made information systems Physical or Abstract Systems: Physical systems are tangible entities that may be static or dynamic in operation. Abstract systems are conceptual or non-physical entities which may be as straightforward as formulas of relationships among sets of variables or models – the abstract conceptualization of physical situations. Open or Closed Systems: An open system continually interacts with its environments. It receives inputs from and delivers output to the outside. An information system belongs to this category, since it must adapt to the changing demands of the user. In contrast, a closed system is isolated from environmental influences. In reality completely closed systems are rare. Deterministic or Probabilistic Systems: A deterministic system is one in which the occurrence of all events is perfectly predictable. If we get Continue reading

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Case Study of FedEx: Leveraging Information Technology to Grow Business

Federal Express is a global express transportation and logistics company that offers customers a single source for global shipping, logistics, and supply chain solutions. It was founded in 1973 by Frederick W. Smith. Since its inception FedEx pioneered the express delivery industry. The company focused on the core business of express delivery and provided overnight delivery services to the customers globally. However, the transformation of businesses and customers from old economy to the new economy forced FedEx to reposition itself from ‘overnight delivery service’ to a ‘one-stop-shop’ for the entire logistics requirement of the business. The company became the logistics service provider of leading organizations, like, General Motors. Background  of FedEx During the late 1960s, Frederick Smith (Smith) chanced upon an idea to start an airline courier company. During this period, it was common practice to send packages as cargo on commercial carriers like American, United or Delta Airlines. This Continue reading

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Difference Between Job Costing and Process Costing

The main objective of manufacturing firms is to make profit. The profit on each product sold is the difference between the selling price of the product and the total cost of making the product. Cost therefore plays an important role in the product design process. To calculate the cost that incurred on the product we use different Costing Techniques. Costing is not an easy task because in the process of manufacturing a product many indirect materials and labor are used. To identify these costs we use different costing techniques. Here we are going to discuss two methods of costing; Job Costing and Process Costing. Job Costing Job Costing is to calculate the costs involved of a business in manufacturing goods. These costs are recorded in ledger accounts throughout the year and are then shown in the final trial balance before the preparing of the manufacturing statement. In a job costing Continue reading

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Resource Based View (RBV) and Sustainable Competitive Advantage

Resource based view (RBV) focuses on the internal factors that contribute to a firm’s growth and performance. It highlights the importance of firm’s resources and capabilities. Both of them will together form a competency that can create a competitive advantage. Resources can also be divided into tangible resources and intangible resources. Capabilities of the firm in utilizing the resources have a big impact on how a firm will be able to stand out among other competitors. Competitive advantage arises when a firm has a lower cost structure, products differentiation and niche markets. RBV also concerns in value creation in order to compete with others. On the other hand, in order to survive in this competitive world, a firm needs to fully prepare itself to achieve sustainable competitive advantage (SCA), which means having a superior performance in a longer term compared to other rivals. According to Jay Barney (1991), resources need Continue reading

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