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 Management Control?

Management control is the process of evaluating, monitoring and controlling the various sub-units of the organization so that there is effective and efficient allocation and utilization of resources in achieving the predetermine goals. Thus, the focus of management control is on the managers of organizational sub-units and hence its focus is on line managers responsible for the performance of their departments. In 1916, Henri Fayol formulated one of the first definitions of control as it pertains to management: “Control consists of verifying whether everything occurs in conformity with the  plan  adopted, the instructions issued, and principles established. It[‘s] object [is] to point out weaknesses and errors in order to rectify [them] and prevent recurrence. “ Control can also be defined as “that function of the system that adjusts operations as needed to achieve the plan, or to maintain variations from system objectives within allowable limits. “ Management control therefore, is Continue reading

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Concept of Material Handling – Definition and Functions

Material Handling involves the movement of material, manually or mechanically in batches or one item at a time within the plant. The movement may be horizontal, vertical or combination of horizontal or vertical. Material Handling is the movement, storage, control and protection of materials, goods and products throughout the process of manufacturing, distribution, consumption and disposal. The focus is on the methods, mechanical equipment, systems and related controls used to achieve these functions. Briefly, Material Handling is the moving of materials from the raw stage through production to ultimate Customer with the least expenditure of time and effort so as to produce maximum Productive Efficiency at the lowest Material Handling cost. Material Handling is concerned with motion, time, quantity and space. Material Handling Institute describes this as follows: Material Handling is MOTION. Parts, material and finished products must be moved from store to location. Material Handling is concerned with moving Continue reading

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Definition of Forfaiting

Forfaiting is a specialized form of trade finance that allows the exporter to offer  extended credit to the importer. Under forfaiting  , the importer gives the  exporter a bundle of bills of exchange or promissory notes covering the principal  amount as well as the interest. Each tranche of the notes fall due at different points of  time in the future, e.g. every six months, extending up to several years. The notes are  backed by an aval or guarantee provided by a reputed bank in the importer’s country.  The exporter can then discount these notes without recourse with banks who  specialize in the forfaiting business to generate an immediate cash flow. This means  that if either the importer or the guaranteeing bank fails to pay when notes fall due,  the forfaiter cannot ask the exporter for reimbursement. The credit risk is assumed  entirely by the forfaiter. The forfaiter in turn, may Continue reading

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Cost Accounting Information System

Cost Accounting Information System (CAIS) is an accounting information system which determines the costs of products manufactured or services provided and record these costs in the accounting records. It is the key to management’s assessment of the company’s efforts to achieve profit. Since it is so important, the CAIS must be carefully designed and properly maintained. Functions of Cost Accounting Information System (CAIS) Generally the purposes or functions of cost accounting information system fall into four categories. These include providing information for: External financial statements, Planning and controlling activities or processes, Short term strategic decisions and Long term strategic decisions. These four functions relate to different audiences, emphasize different types of information, require different reporting intervals and involve different types of decisions. Cost Accounting Information System (CAIS) Technology Input: The input devices commonly associated with CAIS include: standard personal computers or workstations running applications; scanning devices for standardized data entry; Continue reading

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Case Study: Why Did Euro Disney Fail?

Until 1992, the Walt Disney Company had experienced nothing but success in the theme park business. Its first park, Disneyland, opened in Anaheim, California, in 1955. Its theme song, “It’s a Small World After All,” promoted an idealized vision of America spiced with reassuring glimpses of exotic cultures all calculated to promote heartwarming feelings about living together as one happy family. There were dark tunnels and bumpy rides to scare the children a little but none of the terrors of the real world. The Disney characters that everyone knew from the cartoons and comic books were on hand to shepherd the guests and to direct them to the Mickey Mouse watches and Little Mermaid records. The Anaheim park was an instant success. In the 1970s, the triumph was repeated in Florida, and in 1983, Disney proved the Japanese also have an affinity for Mickey Mouse with the successful opening of Continue reading

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Introduction to Group Communication

Group communication is an extension of interpersonal communication where more than two individuals are involved in exchange of ideas, skills and interests. A group is a number of people with a common goal who interact with one another to accomplish their goals, recognize one another’s existence and see themselves as part of the group. Groups provide an opportunity for people to come together to discuss and exchange views of common interest. There could be many different groups for as many different reasons. For instance, casually formed groups with friends over a drink, coffee break, games, dances or religious gatherings have a different purpose than that of groups attending a meeting or seminar to help fight AIDS or interacting with committee members to draft a proposal. Communication in a group, small or big, serves many goals including collective decision-making, self-expression, increasing one’s effect, elevating one’s status and relaxation. Group communication is Continue reading

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