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

Impact of Inflation on Working Capital Requirement

The term inflation refers to rise in general (on an average basis) price level of goods and services in the economy, i.e., fall in purchasing power of money. Working Capital is the money used to make goods and attract sales. During the period of rising prices, a firm needs more funds to finance working capital. Hence, it should be planned properly. Not under-standing the impact of inflation on working capital has been the cause of many business failures. Cost of financing the working capital rises because of increase in interest rates. Cash should never be allowed to remain idle (Time eats value of money, i.e., on one hand the  company suffers loss of interest and on the other purchasing power of wealth kept as cash declines). Good cash management can provide a major source of profit, while poor cash management can destroy a company in a short time. When the Continue reading

Abey Francis

Stakeholder, Dynamic Capabilities and Sustainable Development Approaches to Strategic Management

Strategic management is the process regulated and formatted by the top level management in accordance with the policies and the rules of the top level management.  These are developed in order to acquire the market share as well as to attain the goals and the objectives in the target market. The strategies developed and adopted by the management are the tools through which the efficiency could easily be enhanced in order to attain the desired goals and the objectives for the organization. Apart from these, there are certain actions which are implemented by the top level management on behalf of the directors and the organizational owners in order to attain the better and effective outcomes. For implementation of the tools and the techniques, organization is required to analyze the internal and external environment. This will help the management to adopt certain crucial set of strategies through which organization could be Continue reading

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Purchase-to-Pay Process (PTP)

Purchase-to-pay process consists of financial transactions with the suppliers in a supply chain. Purchase-to-pay process starts with the buyer making the requisition and ends with the payment to the supplier. The buyer makes a purchase requisition and it is passed on to the purchasing department for approval. After getting the approval of the purchasing manager, a purchase order is sent to the supplier. On receiving the purchase order the supplier dispatches the shipment along with the invoice. On receiving the goods, the firm checks the shipment and the invoice to confirm whether the shipment matches the purchase order and the product quality/quantity is as desired. Upon confirmation, the accounts department pays the supplier. Some of the measures to improve efficiency of purchasing transactions are discussed below. Focus on Reducing Processing Time and Costs There are various ways of reducing processing time and costs in order to expedite the purchasing process. Continue reading

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A Spiritual Perspective of Emotional Intelligence from the Bhagvad Gita

Emotions are reflective of a society’s weakness and strengths and can be disruptive and interfering when displayed at a wrong time. However, when expressed constructively it can play a role in organisational effectiveness. The ancient sacred teachings of the Bhagvad Gita can enlighten an employee to identify, interpret and apply emotions in their personal and professional life. Hinduism advocates that ‘a man should first seek wisdom and thereafter pursue material ambition’. In order to achieve self-realization, one must have perfect emotional self-control. The Indian scriptures state that our senses are like wild horses, the body its chariot and the mind its reins. Intellect is the driver. The Atman is the Lord of the chariot. If the senses are not kept under proper control, they will throw this chariot into a deep abyss. He/she who keeps the reins firm and drives this chariot intelligently by controlling the horses (senses) will reach Continue reading

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Kaizen Costing Method

Kaizen is a Japanese management concept launched by Masaaki Imai, which proved to be the key to Japanese competitive success. The significance of this concept is: KAI = Change and ZEN = for better, and the translation is “continuous improvement”, that means small improvements to the ongoing efforts. Unlike the Western conception, implying total change, at large intervals of time, using large amounts of resources and a high cost level, Kaizen Costing seeks daily, gradual, slow, but continuous improvements, which take place at minimal cost. Kaizen strategy is that a single day should not pass without an improvement to intervene in the activity of each employee or each entity. The Japanese have shown that by applying this strategy, improvement is achieved with minimal expenditure. Specific characteristics that ensure successful approach of Kaizen activities are the following: disregards all ideas implemented so far in the organization of production; rejects the whole Continue reading

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Features of Life Insurance Contract

Human life is an income generating asset. This asset can be lost through unexpected death or made non functional through sickness or disability caused by an accident. On the other hand there is a certainty that death will happen, but its timing is uncertain. Life insurance protects against loss. Life insurance contract may be defined as the contract, whereby the insurer in consideration of a premium undertakes to pay a certain sum of money either on the death of the insured or on the expiry of a fixed period. The definition of the life insurance contract is enlarged by Section 2(ii) of the Insurance Act 1938 by including annuity business. Since, the life insurance contract is not an indemnity contract; the undertaking on the part of the insurer is an absolute one to pay a definite sum on maturity of policy at the death or an amount in installment for Continue reading

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