Participative Management – Workers Participation in Management

Human Resource Management

Case Study on Entrepreneurship: Larry Page

Business Analysis

The Boundaryless Career: Modern Contemperory Perspective on Career

Human Resource Management

How to Meet Costa Rica’s 2026 VASP Requirements Without Expanding Headcount

General Business Articles

Concepts of Throughput Accounting and Theory of Constraints

Financial Management

Directors of a Company

A company, though a legal entity in the eyes of the law, is an artificial person, existing only in  contemplation of law. It has no physical existence. It has neither soul nor a body of its own. As such, it  cannot act in its own person. It can do so only through some human agency. The persons who are in  charge of the management of the affairs of a company are termed as directors. They are collectively  known as Board of Directors. The Companies Act defines a ‘director’ as “any person occupying the position of a director by  whatever name called” [Sec.2(13)]. This is however, an inadequate definition.  In the absence of a precise definition, we can only determine whether a person is a director or not  a director by referring to the nature of his office and functions. According to the functions performed by  him, a director may be Continue reading

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Human Resource Strategy – Meaning, Objectives and Charactristics

Concept and Meaning of Human Resource Strategy The word ‘strategy‘ can be understood as a long range direction and scope of an organization. It provides a framework to achieve organizational goals and objectives. It develops a grand plan about how the company is going to achieve the desired result and how to compete with other rival firms. It also focuses on how the resources are employed effectively an efficiently. In the light of it, Human resource strategy can be defined as a process which helps management anticipate and manage the rapidly increasing changes. It is concerned with long range direction and scope of HR activities in the organization. It is broad action plan designed to accomplish the goals and objectives of human resource management function in the organization. Moreover, it is concerned with establishing relationship between long range HR direction and business strategy. It involves philosophy that people are managed Continue reading

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Kerzner Project Management Maturity Model (KPM3)

Strategic project planning and other phenomenon for successful project has been recognized from several decades. Harold Kerzner has invented project management model innumerably knows as Kerzner Project Management Maturity Model (KPM3). This model is thoroughly possessed acquisition to best strategic management plans for any organization. Additionally this model is excellent medium to gain such excellency in project management system of any organization. Kerzner notifies that this model is considerably fruitful for strategic and multilevel planning for any organization. Foundation of achieving superiority level in various strategic goals can be illustrated by Kerzner Project Management Maturity Model (KPM3). This model consist five basic levels to enable better understanding of its functionality and proficiency for project management. This levels are commonly known as level of common language, common process, singular methodology, benchmarking, and continuous improvement.  Level 1: Common Language This phase of model consists various understandings of terminologies relating to project management Continue reading

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Business Environment Concept – Meaning, Definition, Features and Importance

All living creatures including human beings live within an environment. Apart from the natural environment, environment of humans include family, friends peers and neighbors. It also includes man-made structures such as buildings, furniture, roads and other physical infrastructure. The individuals do not live in a vacuum. They continuously interact with their environment to live their lives. Just like human beings, business also does not function in an isolated vacuum. Businesses function within a whole gambit of relevant environment and have to negotiate their way through it. The extent to which the business thrives depends on the manner in which it interacts with its environment. A business, which continually remains passive to the relevant changes in the environment, is destined to gradually fade-away in oblivion. To be successful business has  not only recognize different elements of the environment but also respect, adapt to or have to manage and influence them. The Continue reading

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Cost Accounting – Definition, Objectives, Scope and Limitations

DEFINITION OF COST ACCOUNTING An accounting system is to make available necessary and accurate information for all those who are interested in the welfare of the organization. The requirements of majority of them are satisfied by means of financial accounting. However, the management requires far more detailed information than what the conventional financial accounting can offer. The focus of the management lies not in the past but on the future. For a businessman who manufactures goods or renders services, cost accounting is a useful tool. It was developed on account of limitations of financial accounting and is the extension of financial accounting. The advent of factory system gave an impetus to the development of cost accounting. Cost Accounting is a method of accounting for cost. The process of recording and accounting for all the elements of cost is called cost accounting. The Institute of Cost and Works Accountants, London defines Continue reading

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Concept of National Innovation Systems

There is no widely agreed definition of national innovation systems. National innovation systems are built on the assumption that understanding the interconnectedness of the actors engaged in innovation is crucial to enhancing technical performance. Innovation and technological advancement are the outcomes of a multifaceted network of connections between actors who produce, transmit, and consume various types of knowledge. The manners in which these actors interrelate with one another as components of a social system of knowledge consumption and generation, and also the technology they employ, have a significant influence on a country’s creative performance. The most prevalent actors are public research institutions, universities, and commercial enterprises, as well as the individuals who work for them. Equipment acquisitions, cross-patenting, personnel exchanges, joint research, and a number of other methods can be used to establish links. The analysis of national innovation systems emphasis on knowledge flows. The focus of analysis is increasingly Continue reading

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