Organizational Health – Concept, Dimensions, and Characteristics

Management Concepts

Organizational Health Approach – Building a Strong Workplace

Modern Management Concepts

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

What is Data-Driven Decision Making (DDDM)?

Data-driven decision making (DDDM) refers to a process of making decisions that are based on data and statistical analysis. This approach is becoming increasingly popular in various industries and organizations, as it allows leaders and managers to make informed decisions based on facts, rather than intuition or personal opinions. DDDM involves collecting and analyzing large amounts of data and using the insights generated to make decisions that are informed by evidence. In other words, DDDM is a systematic and empirical approach to decision making that uses data and statistics to support or reject hypotheses, to draw inferences and to make predictions. The goal of DDDM is to identify patterns, correlations, and trends in data and use that information to make decisions that are likely to lead to better outcomes. The benefits of Data-driven decision making are many and varied. Firstly, it provides a framework for making decisions that are informed Continue reading

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Commercial Bills Market or Discount Market

A commercial bill is one which arises out of a genuine trade transaction, i.e. credit transaction. As soon as goods are sold on credit, the seller draws a bill on the buyer for the amount due. The buyer accepts it immediately agreeing to pay amount mentioned therein after a certain specified date. Thus, a bill of exchange contains a written order from the creditor to the debtor, to pay a certain sum, to a certain person, after a creation period. A bill of exchange is a ‘self-liquidating’ paper and negotiable/; it is drawn always for a short period ranging between 3 months and 6 months. Definition of Bill of Exchange Section 5 of the negotiable Instruments Act defines a bill of exchange as “an instrument in writing containing an unconditional order, signed by the maker, directing a certain person to pay a certain sum of money only to, or to Continue reading

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Competitive Imperatives of Compensation

Compensation is what employees receive in exchange for their contribution to the organisation. Generally, employees offer their services for three types of rewards. Pay refers to the base wages and salaries employees normally receive. Compensation forms such as bonuses, commissions and profit sharing plans are incentives designed to encourage employees to produce results beyond normal expectation. Benefits such as insurance, medical, recreational, retirement, etc., represent a more indirect type of compensation. So, the term compensation is a comprehensive one including pay, incentives, and benefits offered by employers for hiring the services of employees. In addition to these, managers have to observe legal formalities that offer physical as well as financial security to employees. All these issues play an important role in any HR departments efforts to obtain, maintain and retain an effective work force. So, the employers are, therefore are required to know that what are competitive imperatives which can Continue reading

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Development Banking in India

The foreign rulers in India did not take much interest in the industrial development of the country. They were interested to take raw materials to England and bring back finished goods to India. The government did not show any interest for securing up institutions needed for industrial financing. The recommendation for setting up industrial financing institutions was made in 1931 by Central Banking Enquiry Committee but no concrete steps were taken. In 1949, Reserve Bank had undertaken a detailed study to find out the need for specialized institutions. It was in 1948 that the first development bank i.e. Industrial Finance Corporation of India (IFCI) was established. IFCI was assigned the role of a gap-filler which implied that it was not expected to compete with the existing channels of industrial finance. It was expected to provide medium and long-term credit to industrial concerns only when they could not raise sufficient finances Continue reading

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Selection Criteria for International Assignments

Making an effective selection decision for an overseas assignment can prove to be a major problem. Typically, this decision is based on international selection criteria, which are factors used to choose international managers. These selections are influenced by the  Multinational Corporations experience and often are culturally based. Sometimes as many as a dozen criteria are used, although most  Multinational Corporations give serious consideration to only five or six. 1. Adaptability to Cultural Change Overseas managers must be able to adapt to change. They also need a degree of cultural toughness. Research shows that many managers are exhilarated at the beginning of their overseas assignment. After a few months, however, a form of culture shock creeps in, and they begin to encounter frustration and feel confused in their new environment. One analysis noted that many of the most effective international managers suffer this cultural shock. Organizations examine a number of characteristics Continue reading

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Blue Ocean Strategy: Discovering the Untapped Market

Blue ocean strategy makes companies to come out of ocean of bloody competition by creating market space which is uncontested and that makes the completion irrelevant. Since, dividing up existing demand and benchmarking the competitors, Blue Ocean strategy is regarding grow demand and break away from the competition. The business universe can be thought as a composition of two kinds of oceans the first is the red ocean and second one is the blue ocean. Red ocean includes all the industries which exist today and it is about the known market space. But on the other side Blue Ocean can be considered as industries which are not in existing today and it is called unknown market space. The industries boundaries are defined and well accepted in the red oceans. In the red oceans the rules of competitive games are well defined. The companies try to take away the greater share Continue reading

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