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

Theories of Motivation: Vroom’s Valence-Expectancy Theory

Vroom’s expectancy theory was originally developed by Victor H. Vroom, a Canadian psychologist, in 1964. Attacking Herzberg’s two-factor theory, Vroom offered an expectancy approach to the understanding of motivation. According to him, a person’s motivation towards an action at any time would be determined by an individual’s perception that a certain type of action would lead to a specific outcome and his personal preference for this outcome. Vroom’s expectancy theory consisted of two related models – the valence model and the force model. The valence model attempts to capture the perceived attractiveness, or valence, of an outcome by aggregating the attractiveness of all associated resultant outcomes. The force model of expectancy theory attempts to capture motivational force to act by associating the expectancy of resultant outcomes and their individual valences. These two models gave Vroom the opening to build his expectancy theory to the level that it is today most Continue reading

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Globalization of an Existing Business – Need, Process and Impacts

Interdependence and integration of individual countries of the world is called globalization. The globalization integrates not only economies but also societies. The globalization process includes globalization of markets, production, technology and investment. However globalization has two important components, one is globalization of market and other is globalization of production. Today, a company can view the entire world as one country for its business operation. In fact the businessmen were doing their operations even in the past. History indicates that business operations were existing across the countries even in the old days. Therefore the concept of global business is as old as civilization. Crossing national and political boundaries for the purpose of business may be called as globalization. Globalization has the following features: Planning and operating to expand business throughout the world. Removing the differences between domestic and foreign markets. Buying and selling goods and services from one country to another Continue reading

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Business Ethics in Human Resource Management

Business ethics are the moral doctrines that direct the way to business behave. Business ethics determines the actions of every individual that distinguish the right or wrong. Every business organization must develop the codes of conduct and ethics that should be followed by all the members. Ethics can be taken as the crucial way to self-presentation and public perception of the organization. Business ethics in human resource management is related to the employee’s issues. Human resource management plays an important role in setting up and implementing ethics in the workplace. Implementation of ethics in the workplace has been one of the challenging tasks for the organization. Various human resources issues can be handled properly by the application of ethics and code of practices by the managers in the workplace. Ethics generally determine what is right and what is wrong. With the help of business ethics, proper allocation and maintenance of Continue reading

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Standard Error in Hypothesis Testing

The standard error is an indispensable tool in the kit of a researcher, because it is used in testing the validity of statistical hypothesis. The standard deviation of the sampling distribution of a statistic is called the standard error. The standard error is important in dealing with statistics (measures of samples) which are normally distributed. Here the use of the word “error” is justified in this connection by the fact that we usually regard the expected value to be true value and the divergence from it as error of estimation due to sampling fluctuations. The term standard error has a wider meaning than merely the standard deviation of simple sampling because of the following reasons; The standard error is mainly employed for testing the validity of a given hypothesis. Mostly two levels of significance (0.05 and 0.01) are used for testing the validity of hypotheses. At 0.05 level of significance, Continue reading

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Porter’s Five Forces Analysis of McDonalds

McDonald’s is an American fast food restaurant chain with its global headquarters in Oak Brook, Illinois. It has over 36,000 restaurants found in 120 countries all over the world, serving 68 million customers each day. It was founded as a barbeque restaurant in 1940 by Richard and Maurice McDonald. In the year 1955, a businessman Ray Kroc joined the company as a franchise agent and bought the company from the McDonald brothers. McDonald’s Corporation, incorporated in the year 1964, operates and franchises McDonald’s restaurants.  A McDonalds restaurant is operated by a franchisee, an affiliate, or the McDonalds corporation itself. McDonalds primary products include burgers, french-fries, soft drinks, milkshakes, wrap and desserts. The company has also introduced different menus like salads, fish, smoothies and fruits in response to changing customer tastes in order to lock-in customers. McDonald’s is operating under a new organizational structure starting from July 2015, categorized into four Continue reading

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3 Common Types of Organizational Structure

Organizational structure is the internal, formal framework of a business that shows the way in which management is linked together and how the authority is transmitted.  It is basically a framework used to describe the hierarchy in an organisation. Every business needs to have their own organizational structure as it helps in identifying the job at each level of an individual followed by its functions and it also assists in obtaining their own goals for development. There is a need for every type of organisation to have their own structure specially when it comes to large enterprises as it becomes difficult activities of the various departments and functions. A business will opt for an organisation structure which is best suited to them and the way they would like to be working, and the chart they create will reflect this. A flat organisation is one that has eliminated most or all Continue reading

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