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

Quality Control (QC) – Meaning, Definition, and Benefits

What is Quality? Quality has become one of the most important factors of consumers decision in selecting a product among competing products (services). This phenomenon is wide spread regardless of the fact whether the consumer is an individual organisation, retail store, or a military defense programme. The quality of products / services can be evaluated in several ways. It is important to identify different dimensions of quality Garrin (1987) discusses eight components or dimensions of quality as follows. Performance (Will the product do intended job?) Reliability (How often does the product fail?) Durability (How long does the product last?) Serviceability (How easy is it to repair the products?) Aesthetics (How the product looks like?) Features (What does the product do?) Perceived Quality (What is the reputation of the company?) Conformance to standards (Is the product made exactly as the design indented?) Meaning of Quality Control Quality control is defined as Continue reading

Abey Francis

Working of International Monetary Fund (IMF)

Recommended Reading: International Monetary Fund (IMF) 1. Financial Resources: IMF’s resources mainly come from two sources Quotas and Loans. The capital of the Fund includes quotas of member countries, amount received from the sale of gold, General Arrangements to Borrow (GAB), New Arrangements to Borrow (NAB) and loans from members nations. Quotas and Loans and their Fixation: The Fund has General Account based on quotas allocated to its members. When a country joins the Fund, it is assigned a Quota that governs the size of its subscription, its voting power, and its drawing rights. The country will be assigned with an initial quota in the same range as the quotas of existing members that are broadly comparable in the economic size and characteristics.  At the time of the formation of the IMF, each member is required to pay its subscription in full or on joining the Fund — of which Continue reading

Abey Francis

Mitigating Risks and Increasing Resilience Through Capacity Utilization Analysis

In today’s global economy, operating at maximum efficiency is key to maintaining a competitive edge. Being cognizant of the tools available to aid in this endeavor is crucial. One such tool is capacity utilization, a metric that helps businesses determine the degree to which they are exploiting their potential output capabilities. Keep reading to explore this concept further and better understand its role in mitigating risks and improving resilience. Capacity Utilization Analysis Capacity utilization analysis is a powerful tool in the arsenal of a business leader. It presents a way of assessing how effectively an organization is using its existing resources to achieve maximum output. Underutilization can lead to wasted resources, while over-capacity operations can result in ballooning costs. Capacity utilization is calculated by dividing the actual output by the potential output and multiplying by 100, giving you a percentage. High capacity utilization indicates efficiency and profitability, whereas low utilization Continue reading

Abey Francis

Types of Business Ownership – Sole Proprietorship and Partnership

When entrepreneurs establish a business, they must decide on the form of business ownership. There are three basic forms of business ownership: sole proprietorship, partnership, and corporation. The form that is chosen can affect the profitability, risk, and value of the firm. The business ownership decision determines how the earnings of a business are distributed among the owners of the business, the degree of liability of each owner, the degree of control that each owner has in running the business, the potential return of the business, and the risk of the business. These types of decisions are necessary for all business. Sole Proprietorship A business owned by a single owner is referred to as a sole proprietorship. The owner of a sole proprietorship is called a sole proprietor. A sole proprietor may obtain loans from creditors to help finance the firm’s operations, but these loans do not represent ownership. The Continue reading

Abey Francis

Objectives of Demand Forecasting

Demand forecasting means an estimation of the level of demand that might be realized in future under given circumstances. These are concerned with the predictions of demand for products or services to minimize the uncertainties of the unknown future. These forecasts on demand facilitate in formulating material and capacity plans and serves as inputs to financial, marketing and personnel planning. The demand forecast itself may be generated in a number of ways, many of which depend heavily upon sales and marketing information. The objectives of demand forecasting are different in case of short run and long run forecasts. Short Run Forecasting Short run forecasting is usually a period not exceeding one year. The following are the objectives of short run demand forecasting. To evolve a suitable production policy: Short term forecasts help the firm to plan the production so as to avoid the problems of over production and short supply. Continue reading

Abey Francis

The Principles of Modern Management by Frederick Taylor

Frederick Taylor, known as the Father of Scientific Management, conducted many studies at Bethlehem Steel Company in Pittsburgh. His experience as an apprentice, a common labor, a foreman, a master mechanic, and then a chief engineer of a steel company gave Taylor an excellent opportunity to know first hand the problems and attitudes of workers and to see the great possibilities for improving the quality of management. To improve productivity, Taylor examined the time and motion details of a job, developed a better method for performing that job, and trained the workers. Taylor also offered a piece rate that increased as workers produced more. In 1911, published a book “Principles of Scientific Management” in which he proposed work methods designed to increase worker productivity. He defined management as art of knowing exactly what do you want to do and seeing that they do it and in the best and cheapest Continue reading

Abey Francis