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General Business Articles

What is Cost Of Money?

The cost of money refers to the price paid for using the money, whether borrowed or owned. Every sum of money used by corporations bears cost. The interest paid on debt capital and the dividends paid on ownership capital are examples of the cost of money. The supply of and demand for capital is the factor that affects the cost of money. In addition, the cost of money is affected by the following factors as below:

  1. Production Opportunities – Production opportunities refer to the profitable opportunities for investment in productive assets. Increase in production opportunities in an economy increases the cost of money.
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Abey Francis

Job Design – Meaning, Importance and Methods

It is believed that a well designed job motivates the employees for higher level of performance. Poorly designed jobs often result in boredom and employee frustration, high turnover, reduced motivation, low level of productivity and increase in operating cost. To avoid such negative consequences, the jobs have to be designed systematically and scientifically

Thus, job design is a systematic process of organizing work into the tasks required to perform a specific job. It defines the contents and the way the tasks are combined to complete a job. Job design integrates the tasks, function and relationship in order to achieve certain organizational objectives.… Read the rest

Abey Francis

Internal Hiring – Meaning, Methods, Advantages and Disadvantages

Internal hiring refer to recruiting employees from within the organization. In deciding requirement of employees, initial consideration should be given to a company’s current employees, which is concerned with internal hiring. They include those who are already available on the pay roll of the company. This is important source of recruitment as it provides opportunities for better development and utilization of existing human resources in the organization. 

There are two aspects of hiring under internal sources. They are as follows:

  1. Promotions – It refers to promoting or upgrading an employee who is already existed in the pay roll and contributed for organizational performance.
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Abey Francis

The Link Between Innovation and Strategy

Innovation is usually defined as the successful commercial exploitation of new ideas or simply as the successful implementation of new ideas. This encompasses ideas that are ‘new to the world’, ‘new to an industry’ or merely ‘new to a particular firm’. The prominence given to the role of innovation in strategy is to a large extent the result of the prevailing social and economic conditions. In what Peter Drucker – the most influential management thinker of the second-half of the twentieth century – termed the ‘knowledge economy’ that has emerged due to the rise of the service industry and decline of manufacturing since the end of the Second World War, business organizations have increasingly had to react to change more rapidly if they wish to succeed in the marketplace.… Read the rest

Abey Francis

Objectivity in Accounting

Financial accounting can be defined as a process of designing and operating an information system for collecting, information in order to make financial decisions. It is said to collect accurate financial data and other financial information, and to accumulate and combine it in an organized and systematic way, according to the principles and rules of accounting, for reporting purpose.

Financial accounting is objective in the sense that it is not biased which means it is true and fair in review. It is very importance for any organisation because the information gathered through financial accounting can be used to make financial or economic decision making.… Read the rest

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Advantages and Disadvantages of Credit Cards to Students

In this modern era with the rising of e-commerce in the world, the usage of credit cards is getting popular among the world nowadays. The usage of credit cards has actually spread towards college students and has increased visibility. Meanwhile, this is the best chance for the credit card companies to put on target at college students because college students are expected to have higher earning power and this makes the credit card companies believe that as a desirable market. A credit card can be best defined as a small plastic card issued by the bank to the consumers to purchase goods and services in advance with a credit limit on the spending.… Read the rest

Abey Francis