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

Transaction Process System – Activities, Objectives and Characteristics

Transaction processing system (TPS), an information system (IS) mostly used by managers in operational management to record internal transactions, economic events that occur within an organization and external transactions where the business event took place outside the organization to make operational decision. TPS supports different tasks by setting a set of rules and guidelines that specify the ways to capture or collect, process and store any transaction in a form of data or information. Transaction Process System Activities Processing business transactions was the first application of computer of most firms. Since the 1950s, Transaction processing system (TPS) have evolved from slow, manual systems to advanced computerized system. TPS, a cross-functional information system were among the earliest computerized systems developed to record, process, validate, and store business for future use or retrieval. Transactions are the economic events or exchange between two or more business entities. Basically, TPS is an organized collection Continue reading

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Economic Environmental Scanning

Firms that anticipate economic change and identify the constituents through which that change will be applied; can better adapt goals and action plans. Shareholder expectations of financial return are dictated in part by alternative investments and their associated return and risks. Interest rates, tax policies, shareholder incomes, availability of funds for margin-purchased equity investments, and expectations of future economic circumstances will shape changes in equity investor profiles and/or the financial performance expectations of the firm’s owners. Personal income, savings, employment, and price-level trends can have dramatic effects on the attractiveness of a firm’s products or services in output markets–not only final markets, but intermediate markets as well. Similarly, total sectoral outputs, movements in private-sector capital replacement and expansion, government spending, and the allocation of the consumer dollar can have dramatic impacts between and within industrial sectors. Each can be set off macroeconomic changes well outside the control of the firm, Continue reading

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Waiting Lines and Queuing System in Management Science

Waiting in lines is a part of our everyday life. Waiting in lines may be due to overcrowded, overfilling or due to congestion. Any time there is more customer demand for a service than can be provided, a waiting line forms. We wait in lines at the movie theater, at the bank for a teller, at a grocery store. Wait time is depends on the number of people waiting before you, the number of servers serving line, and the amount of service time for each individual customer. Customers can be either humans or an object such as customer orders to be process, a machine waiting for repair. Mathematical analytical method of analyzing the relationship between congestion and delay caused by it can be modeled using Queuing analysis. Queuing theory provides tools needed for analysis of systems of congestion. Mathematically, systems of congestion appear in many diverse and complicated ways and Continue reading

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Conceptual Framework of Accounting

An accounting framework is a coherent system of inter-related objectives and fundamentals that should lead to consistent standards that prescribe the nature, function and limits of financial accounting and financial statements. The main reason for developing a conceptual framework are that gives a framework for setting accounting standards, a basis for resolving accounting disputes and fundamental principles which then do not have to be repeated in accounting standards. Furthermore, Conceptual Framework can be categorized in terms of the distinctive function of management accounting within the management process in organizations. Moreover, the way in which the utility of the outcomes of the management accounting process can be tested. Conceptual Framework is a criteria which can be used to assess the value of the processes and work technologies used in management accounting and capabilities necessarily associated with the effectiveness of the management accounting function overall. Conceptual Framework plays an important role in Continue reading

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Disaster Recovery Plan (DRP) in Business

Fire, flood, earthquake and accidental deletion of data are all acts that can cause disastrous consequences on data. Such disasters can prevent the network from operating normally, which in turn can hamper the organization’s business. These disasters can be classified into man-made disasters and environmental disasters. Man-made disasters are intentionally or unintentionally caused by humans. For example, a user accidentally deletes the data, virus and malicious programs can damage data and various other events can cause data loss and downtime. Environmental disasters are non-preventive but can be reduced if appropriate precautions are taken. Environmental disasters include fire, flood, earthquake, tornado and hurricane. Disaster recovery deals with recovery of data that is damaged due to destructive activities. The time required to recover from a disaster depends on the disaster recovery plan implemented by the organization. A good disaster recovery plan can prevent an organization from any type of disruption. Disaster Recovery Continue reading

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Types of Equity Mutual Funds

Equity mutual funds or simply equity funds are those that invest predominantly in equity share of companies. There are a variety of ways in which an equity portfolio can be created for investors. The following are the different kinds of equity funds: 1. Simple Equity Funds These funds invest a predominant portion of the funds mobilized in equity and equity related products. In most cases about 80-90% of their investments are in equity shares. These funds have the freedom to invest both in primary and secondary markets for equity. One variation of the simple equity fund is the ELSS (Equity Linked Savings Scheme). These funds named variously in mutual fund industry are equity funds formed under a special scheme notified by the Government of India in 1990. According to the provisions of this notification, investment in a specially formed mutual fund product that invests at least 90% of its funds Continue reading

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