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

Why Bureaucracy is No Longer Relevant in Today’s Business Environment

In the competitive business environment of the 21st century, managers must concentrate and focus all their efforts on ensuring their organizations retain a competitive advantage in the market. Failure to adhere to this basic principle means failure for the organization. As such, many conscientious and assiduous managers are dumping traditional approaches of running organizations in favor of more conventional approaches that guarantee the concentration of synergies and addition of value in all organizational endeavors. One traditional management approach that is fast fading into oblivion is bureaucracy.  A bureaucracy is an organizational structure with inflexible hierarchy of officeholders, regulated by impersonal uniform rules, protocols, and procedures. In most occasions, all the personnel within the organization have well defined positions and titles. he rules and procedures specify the type of duties that each worker must perform, and organizational functions are structured into set offices, which are holistically organized into a vertical hierarchy that Continue reading

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Eurocurrency Market Characteristics

The Euro-currency market has no geographical limits or a common  market place. Business is done by telex, telephone and other communication  systems. Internationally-reputed brokers put through the transactions for the  banks. Deposits are secured for the banks operating in the market by the general  guarantee of its parent or holding company and in some cases, by its central  bank and /or the government of the concerned country. Similarly, loans to  commercial parties are guaranteed by their respective governments. Deposits  and loans to banks are, however, not guaranteed except by the banks parent  companies or their exchange control authorities. The amounts of loans and the periods of maturity vary over a wide range  from a few thousands to millions of dollars and from call loans to maturities  extending up to 10-15 years. Some of the loans may be syndicated and jointly  sponsored by a number of banks. There are also varied Continue reading

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Cost Accounting: Installation of Costing System

The need and importance of the installation and the organisation of a good system of cost accounting are being increasingly realized presently all over the business versatility. The common experience of enthusiastic youths climbing the business – tree and falling mid-way without even collecting the leaves owes to the ignorance of he use installation and organisation of costing system, and to the infatuation that the profits could be earned without it. A good system is the key-point governing, the mechanism of an enterprise in the field of cost control, ascertainment of profitability, and managerial decision-making. Installation of a costing system is not an expense but an investment as the rewards are much greater than the expenses incurred. The cost system is for the business and not the business for a system of cost. Therefore, the system has to be so designed as to meet the specific needs of the enterprise. Continue reading

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Cost Planning Systems in Construction Management

Cost planning in construction is necessary since building a house is a very expensive thing to do and any mistakes can be very costly to the client. It is very important to know how to plan and to ensure that the building is suitable as far as the resources are concerned. All factors should be considered to ensure maximum value for your money. It is also important to note that a building should not cost more than what the client has budgeted for. There are different methods of cost planning during construction which the client should be able to use for purposes of ensuring the budget is not overrun. These methods involve approximate estimation of the client’s budget. One method involves looking at similar structures erected within the resent time frame since costs do not differ very much within the same location. A developer should always consult on the prevalent Continue reading

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Strategic issues in Not-for-Profit (NFP) organizations

Not-for-Profit (NFP): An organization that provides some service or good with no intention of earning a profit. NFP includes Private nonprofit corporations (such as hospitals, institutes, private colleges, and organized charities) as well as Public governmental units/agencies (such as welfare departments, prisons, and state universities) Types of Not-for-Profit Organizations Importance of Revenue Source: NFPs are dependant on dues, assessments, or donations for their revenue sources. In NFP organizations there is likely to be a very different sort of relationship between the organizations providing and the person receiving the service. Because the recipient of the service typically does not pay the entire cost of the service, outside sponsors are required. The pattern of Influence on Strategic Decision Making: Pattern of influence is derived from its source of revenues. Those who fund the NFP are likely to have a significant influence on its operations The usefulness of Strategic Management and Techniques: some Continue reading

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Importance of Production Planning and Control

For efficient, effective and economical operation in a manufacturing unit of an organization, it is essential to integrate the production planning and control system. Production planning and subsequent production control follow adaption of product design and finalization of a production process. Production planning is an activity that is performed before the actual production process takes place. It involves determining the schedule of production, sequence of operations, economic batch quantities, and also the dispatching priorities for sequencing of jobs. Production control is mainly involved in implementing production schedules and is the corollary to short-term production planning or scheduling. Production control includes initiating production, dispatching items, progressing and then finally reporting back to production planning. In general terms, production planning means planning of the work to be done later and production control refers to working out or the implementation of the plan. So, the system of production planning and control serves as Continue reading

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