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

Career Management – Definition and Meaning

Career is a general course of action, an individual chooses to pursue, all through his or her employment life. It may be represented as occupational positions a person has hold over so many years. Many people feel satisfied by achieving their career goals. At the same time, others have a strong feeling that, their careers, their lives and their potential has undergone unfulfilled. Employers too have a profound effect on employees’ careers. Some organisations have very formal career management processes, while others are very little concern about it. Career management is defined as the ongoing process of preparing, implementing and monitoring career plans. It can be undertaken either by the individual alone or can be a concerted activity along with the organisation’s career systems. Career management is a process that enables the employees to better understand their career skills, develop and give direction to it and to use those skills Continue reading

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Why Firms Introduce New Products Into Markets?

Excess Capacity as a Reason for Expanding Product-line The presence of excess production capacity is, perhaps, the most important single factor leading to product-line diversification. Broadly conceived, excess capacity is said to exist when it would cost the multiple-product firm less to make and sell the new product than it would cost a new company set up to produce only that product. Excess capacity may occur for several reasons. It may be the result of an unduly over-optimistic estimated market for the firm’s products. In such a case, if anticipated level of demand is not forthcoming, the firm develops excess capacity. Excess capacity may be due to seasonal variations in demand also, the latter being a result of weather and custom, e.g., greeting cards, ice-cream, etc. Companies faced with seasonal demand for their products would certainly find it advisable to add to their product-line in off-season a new product to Continue reading

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Adam Smith’s Canons of Taxation

Canons of taxation  are sets of  criteria  by which to judge taxes.  These canons are still widely accepted as providing a good basis by which to judge taxes.  Adam Smith  laid down  four canons of taxation.  They are: Canon of Ability:  According to this principle of taxation, the people in a country should contribute towards the government expenditure. Their contribution should be according to the ability to pay of each individual. A rich man should contribute more and the poor either should contribute less  or can be exempted. This principle of taxation will ensure that the cost of public expenditure is shared by the people in accordance with their individual ability. Canon of Certainty: Adam Smith insisted that the government should know in advance the amount of revenue that it could raise and the time when it could mobilize the revenue. On the part of individual tax payers, they must Continue reading

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Steps implemented by Companies Act with regard to Corporate Governance

The Ministry of Company Affairs appointed various committees on the subject of corporate governance which lead to the amendment of the companies Act in 2000.   These amendments aimed at increasing transparency and accountabilities of the Board of Directors in the management of the company, thereby ensuring good corporate governance.   The dealt with the following: 1. COMPLIANCE WITH ACCOUNTING STANDARDS — SECTION 210A As per this subsection inserted by the Companies Act, every profit and loss account and balance sheet of the company shall comply with the accounting standards.   The compliance of Indian Accounting standards was made mandatory and the provisions for setting up of National Committee on accounting standards were incorporated in the Act. 2. INVESTORS EDUCATION AND PROTECTION FUND — SECTION 205C This section was inserted by the Companies Act 1999which provides that the central government shall establish a fund called the Investor Education and protection Continue reading

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Subjective Matter and Importance of Collective Bargaining

Collective Bargaining is a process in which representatives of two groups (employers and employees) meet and try to negotiate an agreement which specifies the nature of future relationship (pertaining to employment) between the two. According to Beach, “Collective Bargaining is concerned with the relations between unions representing employees and employers (or their representatives). It involves the process of union organization of employees; negotiation, administration and interpretation of collective agreements covering wages, hours of work and other conditions of employment; engaging in concerted economic action; and dispute settlement procedures.” Subjective matter of Collective Bargaining The subject matter of collective bargaining covers a variety of issues affecting employment relationships between the workers and the management. According to Ghosh and Nath the issues covered in the collective bargaining are recognition of union or unions, wages and allowances, hours of work, leave and festival holidays, bonus and profit sharing schemes, seniority, rationalization and the Continue reading

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Business Excellence Implementation in Organizations

For business to be successful, organizations need to realize that business excellence is a tool which helps them translate their plan into action and is a way of executing strategy. The best way to implement ‘business excellence’ practices in any organization is to balance the differential elements or variables of ‘business excellence’ models in such a way that development is strongly aligned to organizational imperatives. The successful implementation of ‘business excellence’ practices requires focused leadership whose concern for improvement (excellence) or financial necessity outweighs their attachment to traditional norms. One of the major issues faced by organizations implementing business excellence or quality management practices is the change in the culture of organizations as ‘business excellence’ implementation process may need to change the current work practices. Implementation Process The three aspects which should form an essential ingredient of the business excellence system are program design, leadership support and effective execution. Apart Continue reading

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