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

Gantt Charts – Tool for Project Planning and Scheduling

Project Management

Kaizen – Understanding the Japanese Business Philosophy of Continuous Improvement

Operations Management

Production Function in Managerial Economics

Definition  of Production Function The technological relationship between inputs and output of a firm is generally referred to as the production function. The production function shows the functional relationship between the physical inputs and the physical output of a firm in the process of production. According to  Samuelson, “The production function is the Technical relationship telling the maximum amount of output capable of being produced by each and every set of specified inputs. It is defined for a given set of technical knowledge.” According to Stigler, “The production function is the name given to the relationship between the rates of input of productive services and the rate of output of product. It is the economist’s summary of technical knowledge. In fact the production function shows the maximum quantity of output. Q, that can be produced as a function of the quantities of inputs X1, X2, X3…Xn. In equation form the Continue reading

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The SCP Framework – Structure Conduct Performance Framework

The origin of the SCP (Structure-Conduct-Performance)  paradigm can be traced to the work of the Harvard economist Edward Mason in the 1930s. It was  popularized during 1930-60 with its empirical work involving the identification of correlations between industry structure and performance. This is a paradigm that is foundational to  industrial organization  economics, consistent with the  positional  view of strategy, as opposed to the  resource-based  view of strategy.  There are two competing hypotheses in the SCP paradigm: the traditional  “structure performance hypothesis” and “efficient structure hypothesis”. The structure  performance hypothesis states that the degree of market concentration is inversely related  to the degree of competition. This is because market concentration encourages firms to  collude.  The efficiency structure hypothesis states that performance of the firm is  positively related to its efficiency. This is because market concentration emerges from  competition where firms with low cost structure increase profits by reducing prices and  expanding Continue reading

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Emotional Intelligence is more Important than Cognitive Intelligence

In real workplaces, people have to learn how to work in a group but the first thing that the individual should learn is how to control their emotions. Emotion is an influential factor in teamwork, cooperation and in the process of helping people. As workers perform their work within a good cooperation, they can build up the reputation of a corporate beside the ethical behavior of themselves. Normally individuals contribute necessary energy for organizational emotional intelligence. Sometimes, there will be a conflict among team member and this may slow down the process of work. If all individuals in the group can each control their emotion, this situation will not happen. That is why emotional intelligence is very important than cognitive intelligence. Individual that can manage their emotion well are categories as a high emotional intelligence’s people. Individuals with high emotional intelligence level are more likely to attend the daily work Continue reading

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Theory of Flow by Mihaly Csikszentmihalyi

“The best moments usually occur when a person’s body or mind is stretched to its limits in a voluntary effort to accomplish something difficult and worthwhile. Optimal experience is thus something we make happen.” -Csikszentmihalyi, 1990. The theory of flow  (also referred to as positive psychology) was developed by Hungarian psychologist Mihaly Csikszentmihalyi, as described in his 1990 book, Flow: The Psychology of Optimal Experience. Csikszentmihalyi defines flow as “the state in which people are so involved in an activity that nothing else seems to matter; the experience itself is so enjoyable that people will do it even at great cost, for the sheer sake of doing it.” In this state of being, people are motivated by inherent enjoyment of the challenges provided by the activity, and are subsequently more productive and happier. He identifies a number of different elements involved in achieving flow: There are clear goals every step Continue reading

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Benefits of Integrated Marketing Communication

Integrated Marketing Communication is defined as the coordination and integration of all marketing communication tool, avenues and sources within a company into seamless program that maximize the impact on customer and other end users at a minimal cost. This integration affects all firm business-to-business, marketing channel, customer-focused, and internally directed communications. It is a management concept that is designed so that all the marketing communication which consists of advertising, sales promotion, public relation, and direct marketing work together as a unified force rather than each of those marketing communication work in isolation. Besides, it acts as an aggressive marketing plan because it sets and tracks marketing strategy that captures and uses extensive amount of customer information. It also ensures that all forms of communications and messages are carefully linked together to achieve specific objective. Benefits of Integrated Marketing Communication Integrated Marketing Communication ensures that all forms of communications tools and Continue reading

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Overview of SEFT, NEFT and Cheque Truncation System

Special Electronic Funds Transfer (SEFT) Since the EFT system could enable funds transfer only from and to branches participating in the EFT process and falling within the clearing jurisdiction at the centres where clearing operations were managed by RBI, many centres were left out of the purview of such transfers. In order to widen the reach of EFT, in 2003, the SEFT scheme was introduced wherein the participating bank branches had to necessarily be computerised and networked so as to enable funds transfer within the stipulated time zone. The processing of transactions is centralised at National Clearing Cell, Mumbai and inter-bank funds settlement also takes place at Deposit Accounts Department, Mumbai office. The networked branches participating this Scheme, will submit the EFT files of their branch to the service branch (through their internal network), and the service branch will forward the files to NCC Mumbai. Thereafter, NCC Mumbai will process, Continue reading

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