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

Creative Accounting – Definition, Techniques and Ethical Considerations

Definition of  Creative Accounting   Creative accounting is accounting practice that falls outside the regulation and give benefit to certain people. It can be described as a practice with a clear aim to interrupt the financial reporting process which affects reported income to make it looked normal and provides no true economic advantages to relevant parties like shareholders. Concisely, creative accounting is the transformation of financial accounting figures from what they actually are to what users’ desire by taking advantage of the accounting policies which is permitted by accounting standards. Creative accounting is a practice that potentially being undertaken as a result from some individual care more on their own interest and indirectly causes issues arise in ethical dimension of creative accounting. From information perspective, agency theory gives a clear picture on creative accounting scenario. Whereby managers misuse their privileged position in manipulating financial reporting in their own interest which Continue reading

Abey Francis

Marketing’s Impact on Individual Consumers and Society

Marketing is offering significant benefits to organizations and to society, while the fact that marketing is a business function operating in close contact with the public where extensive criticism is subjected to this functional area, some of this criticism is justified: much is not. The function and practice of marketing has been criticized because it is claimed that it creates partial truths about products and services by emphasizing the gap between a person’s reality and their expectations in such a way that people feel lacking in either self esteem so that they feel compelled to close the gap by unnecessary spending. The philosophy of Milton Freidman and the belief that the “ends justifies the means” endorses the marketing way or its aim. In other words businesses are accountable to shareholders and shareholders alone where marketing is the tool. Social critics claim that certain marketing practice hurts individual consumers and society Continue reading

Abey Francis

The Main Features of Interbank Deals

Interbank deals refer to purchase and sale of foreign exchange between the banks. In other words it refers to the foreign exchange dealings of a bank in the interbank market. The main features of interbank deals are given in this section. 1. Cover Deals Purchase and sale of foreign currency in the market undertaken to acquire or dispose of foreign exchange required or acquired as a consequence of the dealings with its customers is known as the ‘cover deal’. The purpose of cover deal is to insure the bank against any fluctuation in the exchange rates. Since the foreign currency is a peculiar commodity with wide fluctuations in price, the bank would like to sell immediately whatever it purchases and whenever it sells it goes to the market and makes an immediate purchase to meet its commitment. In other words, the bank would like to keep its stock of foreign Continue reading

Abey Francis

Total Cost Approach to Logistics

Total cost approach to logistics  is the key to managing the logistics function. Management  should strive to reduce the total cost of logistics rather than the cost of each activity.  So logistics must be viewed as an integrated system rather than the individual  system, because reduction in one cost invariably lead to increase the cost of other  components. Effective management and real cost savings can be accomplished only  by viewing logistics as an integrated system and minimizing its total cost given the  firms customer service objectives. So the main costs which are involved in  logistics  function are: Customer service level costs Transportation costs Warehousing costs Order processing and information costs Lot quantity costs Inventory carrying costs Customer Service Level Costs Most business people find it difficult, if not impossible to measure this cost. The  cost associated with alternative customer service levels is the cost of lost sales( not  only the Continue reading

Abey Francis

Internationalization Strategy Selection

Choice of the strategy does not consist merely of a collection of isolated decisions on products, markets, channels, partners and operation modes. These decisions are also core issues of a competitive strategy. Therefore, the choice of a strategy is all about choosing an appropriate framework for the growth and internationalization strategy for the company‘s competitive success. That is, the choice of strategy must be understood within the context of strategic planning. The strategy of the firm is concerned with matching a firm‘s resources and capabilities to the opportunities and challenges arising from the external environment. This could just as easily be restated as, €•The choice of the growth and internationalization strategy is concerned with matching a firm‘s resources and capabilities to the opportunities and challenges arising from the external environment. According to the view adopted here: “The central task of strategic planning is defining, building, utilizing, maintaining, and developing a Continue reading

Abey Francis

The Nature of Strategic Decisions

Although the process of creating strategy is often discussed as if it were an unconstrained design process, keep in mind that while strategists evaluate strategy, the firm is operating. This evaluation involves assessing the extent to which present strategy is meeting expectations. It may be the case that only a small part of, say, marketing strategy would have to be changed to correct a problem. In effect, then, such a change would constitute an acceptance of corporate- and business-level strategy, and also of the firm’s functional strategy set. Marketing strategy would be all that was rejected. When a firm’s performance is less than satisfactory, the reason often is a functional strategy shortcoming. One might say that a “good” business-level strategy would have been poorly implemented by part of its functional strategy set. For this simple example, a change in marketing strategy could improve performance while other levels of strategy would Continue reading

Abey Francis