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

Preventive Maintenance

Preventive maintenance anticipates failures and adopts necessary actions to check failures before they occur. It includes activities like inspection, lubrication, cleaning unkeeps, minor adjustments and replacements found necessary at the time of inspection etc.  Its purpose is to minimize breakdowns and excessive depreciation. Neither equipment nor facilities should be allowed to go to the breaking point. In its simplest form, preventive maintenance can be compared to the service schedule for an automobile. Preventive maintenance can be either: running maintenance or “shut down maintenance”. Running maintenance includes maintenance activities e.g. minor adjustments in machines revealed through inspections, lubrication, cleaning and upkeep etc., which are carried out when the machine is still running. Shutdown maintenance includes preventive maintenance activities such as minor component replacement whose needs are identified through inspections, which require stoppage of machines. Preventive inspection is one of the key activities of preventive maintenance which   is usually performed by Continue reading

Abey Francis

Tool Control in Production Management

Meaning of Tool Control Tool control in production management implies (1) determining tool requirements (2) procuring necessary tools and (3) controlling/maintaining tools once they have been procured. A tool or process planner must calculate tool requirements prior to the time of production to ensure that proper tools will be available when needed. Lost time resulting from incomplete tools planning can be expensive as well as causing work to delay. In order to facilitate tool control and to limit the investment in tool inventory, it is important to standardize wherever possible all the tools within an organisation. Need for Tool Control It is very important to ensure: Against loss through theft or negligence and production delays through misplacement or non-availability of tools. That the investment in tool inventories is minimized consistent with proper tool availability. Tool Control Procedure Two methods are commonly used to control the issue and receipt of tools Continue reading

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International Competitive Strategies

Firms which succeed in implementing competitive strategy can gain competitive advantage: this latter improves the firm’s competitive position, creates a barrier to entry, and enables a firm to change its competitive stance in response to market changes. Two constructs appear significant at this strategic level. First, distinctive competence; this refers to activities which a firm does better than its competitors, but which require superior skills and resources. The latter are basically tangible assets such as the technology, the distribution network or superior resources; access to supply can also enhance the position. Distinctive competence can create barriers to imitation and help sustain competitive advantage; and superior skills and resources improve the firm’s position when they can lower costs (through scale economies, the learning curve or capacity utilization) or create value to customers. Organization is another element of distinctive competence: a better organizational design and appropriate structure enables a firm to adapt Continue reading

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Service Encounters

From the customer’s point of view, the most vivid impression of service occurs in the service encounters  or “Moment Of Truth,” when the customer interacts with the service firm. This is the foundation to “Satisfaction of Service Quality” — it is where the promises are kept or broken. The concept of service encounter was put forth by Richard Norman, taking the metaphor from Bull Fighting. Most services are results of social acts, which take place in direct contact between the customer and the service provider. At this stage the customer realizes the perceived service quality. Every “Moment of Truth” is Important — according to Scandinavian Airlines, each one of their 10 million customers come in contact with 5 employees. Thus the airlines say there 50 million moments of truth — each one is managed well and “They prove they are the BEST”. Encounter Cascade The encounter cascade refers to a Continue reading

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Ploughing Back of Profits – Definition, Need, Advantages and Disadvantages

The ‘Ploughing Back of Profits‘ is a technique of financial management under which all profits of a company are not distributed amongst the shareholders as dividend, but a part of the profits is retained or reinvested in the company. This process of retaining profits year after year and their  utilization  in the business is also known as ploughing back of profits. It is actually an economical step, which a company takes, in the sense, that instead of distributing the entire earnings by way of dividend, it keeps a certain percentage of profit to be re-introduced into the business for its development. Such a phenomenon is also known as ‘Self-Financing’, ‘Internal Financing’,  or ‘Inter- Financing’. A part of profits is ploughed back or re-employed into the business and is regarded as in ideal source of financing expansion and  modernization schemes as there is no immediate pressure to pay a return on Continue reading

Abey Francis

What Is Brand Identity? Definition and Structure

A person’s identity serves to provide direction, purpose, and meaning for that person. Consider how important the following questions are: What are my core values? What do I stand for? How I want to be perceived? What personality traits do I want to project? What are the important relationships in my life? A brand identity similarly provides direction, purpose and meaning for the brand. It is central to a brand’s strategic vision and the driver of one of the four principal dimensions of brand equity associations, which are the heart and soul of the brand. Nestle uses the term brand constitution to reflect the importance and reverence with which a brand identity should be held. So, what exactly is brand identity? Brand identity is a unique set of brand associations that the brand strategist aspires to create or maintain. These associations represent what the brand stands for and imply a Continue reading

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