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

The Concept of Zero Working Capital

In today’s world of intense global competition, working capital management is receiving increasing attention form managers striving for peak efficiency the goal of many leading companies today, is zero working capital. Proponent of the zero working capital concept claims that a movement toward this goal not only generates cash but also speeds up production and helps business make more timely deliveries and operate more efficiently. The concept has its own definition of working capital: inventories+ receivables- payables. The rational here is (i) that inventories and receivables are the keys to making sales, but (ii) that inventories can be financed by suppliers through account payables. Zero working capital also refers to the equality  between current assets and current liabilities at all times. To avoid excess  investment in current assets, firms try to meet their current liabilities out of the  current assets fully if they follow this concept. Consequently, smooth and  uninterrupted Continue reading

Abey Francis

Application of Big Data in Retail Industry

Information technology is evolving rapidly, and now we are living in the artificial intelligence (AI) age which is considered a smart society where Internet of Things (IoTs) connecting to intelligent devices.  Thanks to the advances in technology, retail is among the industries that are most affected by digital transformation.  With this transformation, the consumer is changing their shopping experience and behavior from seeking products or shops, comparing, reading reviews to in-store, online and finally writing reviews, contacting customer service.  The growing demands of modern consumers for excellent shopping possibilities gives the modern retailer room to innovate and understand shopper’s behavior better in response to the need of modern consumers.  Retailers are dealing with a quickly changing retail landscape and newer competitive threats due to the new and improved changes in technology.  To address these changes, retailers are now using big data solutions to collect massive amounts of data to gather Continue reading

Abey Francis

Routing in Production Management

Meaning of Routing Routing lays down the flow of work in the plant. It determines what work is to be done and where and how it will be done. Taking from raw material to the finished product, routing decides the path and sequence of operations to be performed on the job from one machine to another. The purpose of Routing is to establish the optimum sequence of operations. Routing in production management is related to considerations of layout, temporary storage of in-process inventory and material handling. Routing in continuous industries does not present any problem because of the product type of layout, where the equipment is laid as per the sequence of operations required to be performed on the components (from raw material to the finished products). In open job shops, since, every time the job is new, though operation sheets (sometimes) may serve the purpose, but the route sheets Continue reading

Abey Francis

Forces for Organizational Change

Change is inevitable in the life of an individual or organisation. In  today’s business world, most of the organisations are facing a dynamic and  changing business environment. They should either change or die, there is no  third alternative. Organisations that learn and cope with change will thrive and  flourish and others who fail to do so will be wiped out. The major forces which  make the changes not only desirable but inevitable are technological, economic,  political, social, legal, international and labor market environments. Recent  surveys of some major organisations around the world have shown that all  successful organisations are continuously interacting with the environment and  making changes in their structural design or philosophy or policies or strategies  as the need be. There are a number of factors both internal and external which affect  organisational functioning. Any change in these factors necessitates changes in  an organisation. The more important factors are Continue reading

Abey Francis

Difference between Business Vision and Company Mission

Vision Statement of a Company Business success almost always begins with a vision, a perception of marketplace needs and the methods an organization can use to satisfy them. Vision serves as the target for a firm’s actions, helping to direct the company toward opportunities and differentiating it from its competitors. Vision is a concept, that refers to one’s mental image of the future. Vision refers to the optimum future state of affairs that one can imagine for an individual or for an institution. (Wallace, Engel et al, 1997) A vision consists of three characteristics: 1) an organization’s fundamental reason for existence beyond just making money or providing more service 2) its timeless unchanging core values, and 3) a “big picture” aspiration for its own future. The vision of an organization defines who and what the organization is about, why it exists, and where it is going in the grand scheme Continue reading

Abey Francis

The Concept of Strategy

The top management of an organization is concerned with the selection of a course of action from among different alternatives to meet the organizational objectives. The process by which objectives are formulated and achieved is known as strategic management and strategy acts as the means to achieve the objective. Strategy is the grand design or an overall ‘plan’ which an organization chooses in order to move or react towards the set of objectives by using its resources. Strategies most often devote a general programme of action and an implied deployed of emphasis and resources to attain comprehensive objectives. An organization is considered efficient and operationally effective if it is characterized by coordination between objectives and strategies. There has to be integration of the parts into a complete structure. Strategy helps the organization to meet its uncertain situations with due diligence. Without a strategy, the organization is like a ship without Continue reading

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