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

Objectives of Financial Management

Financial management is concerned with procurement and use of funds.   Its main aim is to use business funds in such a way that the firm’s value / earnings are maximized.   Financial management provides a frame work for selecting a proper course of action and deciding a viable commercial strategy.   The main objective of a business is to maximize the owner’s economic welfare.   This objective can be achieved by; Profit Maximization, and Wealth Maximization. 1. Profit  Maximization Profit earning is the main aim of every economic activity.   A business being an economic institution must earn profit to cover its costs and provide funds for growth.   No business can survive without earning profit.   Profit is a measure of efficiency of a business enterprise.   Profits also serve as a protection against risks which cannot be ensured.   The accumulated profits enable a business to face Continue reading

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An Overview of the Sarbanes-Oxley Act of 2002

About Sarbanes-Oxley Act The Sarbanes—Oxley Act of 2002 was passed on July 30, 2002 and only the public companies are now feeling its impact. This act frequently called the “most significant accounting or auditing legislation since the securities exchange Act of 1934”. After the implementation it has established its demands to the companies for proper management and disclosure of risk. There have been found a number of corporate financial scandals (e.g. Enron Accounting Scandal) that provides various type of weakness in the governance and auditing practice in the organization. It represents the failures in controlling the reliability and integrity to the stock markets. The scandals cost billions of dollars for the investors when the affected companies were collapsed. As a result, these scandals make upset the public confidence in the nation’s security markets. The Sarbanes—Oxley Act was passed in positive response by the American congress on July 30, 2002 in Continue reading

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An Introduction to Cryptography and Digital Signatures

Cryptography The Greek words “krypt ´os” standing for “hidden” and the word “l ´ogos” that means “word”, are in essence the base from where the word cryptology was derived. As these words denote, cryptology can be best explained by the meaning “hidden word”. In this context, the original purpose behind cryptology is hiding the meaning of some specific combination of words which in turn would insure secrecy and confidentiality. This is a very limited viewpoint in today’s perspective and a wide range of security applications and issues now come under the term of cryptology (rest of the portion of this section will clarify this point of view). As field of mathematical science, Cryptology includes the study of both cryptanalysis as well as cryptography. On one hand, cryptography is a very broad term and represents any process used for data protection. On the other hand, the study of security related issues Continue reading

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Sales Promotion in Industrial Marketing

Sales promotion is an activity used by the industrial marketer to boost  the immediate sales of a product or service. It is used to increase the  sales by impressing the customers, rewarding them and also motivating  the sales force to get more business. There are different techniques  used in a industrial sales promotion activity like a free-sample campaign, offering  free gifts, arranging demonstrations or exhibitions, organizing  competitions with attractive prizes, temporary price reductions, door-to-door  calling, telemarketing, using personal letters, etc. More than any other element of the promotional mix, sales promotion is  about “action”. It is about stimulating customers to buy a product. It is not  designed to be informative — a role which advertising is much better  suited to. Need for Sales Promotion in Industrial Marketing To introduce a new product in the market. To influence the public with the help of new uses of the product. To increase Continue reading

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Case Study: Zara’s Supply Chain Success Story

Zara is a Spanish fashion clothing manufacturer and retailer, formed in the 1970’s It is known that only two weeks are required for Zara to complete the development and shipment of a new product to its stores, which outweighs the average of fashion industry of six months, thanks to the collaborative relationship with customers and suppliers. Zara mainly targets on young and urban female customers and acceptable prices are offered. There are always new products in Zara stores. Even though usually Zara stores are spacious but the stock is displayed in limited quantity. This kind of strategy gives customers a sense of originality and exclusivity. Most of the stores display clothes only when they have a full set of major sizes, so customers would not be upset to find out that the needed size is not available. As shoppers enter the stores, reaction between Zara and customers starts with creating Continue reading

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Applications and Benefits of Voice Over Internet Protocol (VoIP)

Voice communication will certainly remain a basic from of interaction for all of us. The public switched telephone network simply cannot be replaced, or even dramatically changed, in the short term (this may not apply to provide voice networks, however). The immediate goal for voice over internet protocol service providers is to reproduce existing telephone capabilities at a significantly lower “total cost of operation “and to offer a technically competitive alternative to the public switched telephone network. It is the combination of Voice over Internet Protocol (VoIP) with point-of-service applications that shows great promise for the longer term. The first measure of success for voice over internet protocol will be cost saving for long distance calls as long as there are no additional constraints imposed on the end user. For example, callers should not be required to use a microphone on a pc. voice over internet protocol provides a competitive Continue reading

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