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

Strategic Importance of Mission Statements

Mission statement is the description of an organization’s reasons for existence, its fundamental purpose. It is the guiding principle that drives the processes of goal and action plan formulation, “a pervasive, although general, expression of the philosophical objectives of the enterprise.” Mission should focus on long-range economic potentials, attitudes toward customers, product and service quality, employee relations, and attitudes toward owners. “A mission statement is an enduring statement of purpose for an organization that identifies the scope of its operations in product and market terms, and reflects its values and priorities…..Every company no matter how big or small, needs a mission statement as a source of direction, a kind of compass, that lets its employees, its customer, and even its stockholders know what it stands for and where its headed.” – Abrahams, 1995. From the above definition its clear that Mission statement  is an enduring statement of a firm’s purpose, Continue reading

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Article on Indian Banking Sector: “The challenges that the banking sector in India faces”

It is by now well recognized that India is one of the fastest growing economies in the world. Evidence from across the world suggests that a sound and evolved banking system is required for sustained economic development. India has a better banking system in place vis a vis other developing countries, but there are several issues that need to be ironed out. In this article, we try and look into the challenges that the banking sector in India faces. Interest Rate Risk: Interest rate risk can be defined as exposure of bank’s net interest income to adverse movements in interest rates. A bank’s balance sheet consists mainly of rupee assets and liabilities. Any movement in domestic interest rate is the main source of interest rate risk. Over the last few years the treasury departments of banks have been responsible for a substantial part of profits made by banks. Between July Continue reading

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Roles of Managerial Economist in Business

A managerial economist can play a very important role by assisting the management in using the increasingly specialized skills and sophisticated techniques, required to solve the difficult problems of successful decision-making and forward planning. In business concerns, the importance of the managerial economist is therefore recognized a lot today. In advanced countries, large companies employ one or more economists. A managerial economist can contribute to decision-making in business in specific terms. Different roles of managerial economist in business as follows: Environmental Studies of a Business Firm An analysis and forecast of external factors constituting general business conditions, for example, prices, national income and output, volume of trade, etc., are of great significance since they affect every business firm. Certain important relevant factors to be considered in this connection are as follows: The outlook for the national economy, the most important local, regional or worldwide economic trends, the nature of phase Continue reading

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Industrial Disputes Settlement Machineries: Mediation and Conciliation

Mediation Mediation’s is a process available to the parties involved in contract negotiations by which an outside party is called in by union and management to help them reach a settlement. The neutral mediator does not ultimately resolve the dispute, but instead tries to move the parties towards agreement by maintaining communication and suggesting alternative solutions to dead-locked issues. The mediator’s function is to provide a positive environment for dispute resolution by drawing on extensive professional experience in the field of labor management interaction. The mediator must possess thorough knowledge of the issues, and an ability to innovate solutions to problems. The mediator must be an effective communicator, know the importance of timing and most of all, have the confidence and trust of the parties. A mediator must possess attributes such as integrity, impartiality and fairness. Conciliation Conciliation is a process by which representatives of workers and employers are brought Continue reading

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Case Study of Jack Welch: Leadership that Creates Innovation

When Jack Welch became CEO of General Electric in 1981, he was only the 11th CEO the company had seen in its 120 years of existence. Although GE was a $13 billion a year company, it began showing signs of necessary change as it had reached the stage between maturity and decline. After 20 years at the helm, Jack Welch had turned General Electric (GE) into one of the world’s most successful companies. Welch increased GE’s market value from $13 billion to over $300 billion in 2001. He guided the once struggling company to what was then the biggest corporation in the entire world as well as the most profitable. Through the use of goal setting, empowerment, and communication Welch transformed the gigantic and complacent company into an energized multi-national organization ready to face world competition. Through an analysis of the techniques employed by Welch, one can gain a better Continue reading

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Debt Recovery Agent

The phrase “Debt Recovery Agent” comprises three terms- Debt, Recovery and Agent.   Let us understand the meaning of these terms separately, before we explain the meaning of Debt Recovery Agent. Debt: It refers to a sum of money owed by one person or entity (debtor) to another person or entity (creditor).   Thus there are two parties to a debt- debtor who receives money by way of a debt; and creditor who lends money to the debtor.   To illustrate, if Ram takes a loan of Rs. 3 lacs from a bank for purchasing a car, Ram becomes the debtor (or borrower), the bank is the creditor (or lender) and the loan of Rs. 3 laces is the debt (principal).   Ram would be required to repay the loan in equated monthly installment (EMI),comprising the principal and interest, spread over the repayment period of, say, 3 years ( debt Continue reading

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