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

Development Stages of a Transnational Corporation

There are five stages in the evolution of the transnational corporation. These stages describe significant differences in the strategy, worldview, orientation, and practice of companies operating in more than one country. One of the key differences in companies at these different stages is in orientation. Stage One–Domestic The stage-one company is domestic in its focus, vision, and operations. Its orientation is ethnocentric. This company focuses upon domestic markets, domestic suppliers, and domestic competitors. The environmental scanning of the stage-one company is limited to the domestic, familiar, home-country environment. The unconscious motto of a stage-one company is: “If it’s not happening in the home country, it’s not happening.” The world’s graveyard of defunct companies is littered with stage-one companies that were sunk by the Titanic syndrome: the belief, often unconscious but frequently a conscious conviction, that they were unsinkable and invincible on their own home turf. The pure stage-one company is Continue reading

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Concept of Personality in Organizational Behavior

The term personality has been derived from the Latin word “Persona” which was associated with Greek theater in ancient times. The Greek actors commonly used to wear masks on their faces during their performances on the stage. The mask worn by the actors was called persona. Personality was thought to be the effect and influence which the individual wearing a mask left on the audience. Personality is a term that has many general meanings. Sometimes the word refers to the ability to get along well socially. For example, we speak of experiences or relationships, which are said to give a person “more personality.” The term may also refer to the most striking impression that an individual makes on other people. We may say, ‘she has a shy personality’. To a psychologist, personality is an area of study that deals with complex human behavior, including emotions, actions, and cognitive (thought) processes. Continue reading

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Managing the Industrial Sales Force

Sales force management is one of the important task for industrial  marketing managers where they take great care in selecting the right  personnel who can help them to increase their sales. They also give their  sales team proper product training, supervise their performance,  frequently motivate them by offering compensations, and at the same  time control the expenses incurred. There are various steps that are involved in the industrial sales force  management. 1. Selection of Sales Personnel Personal selling starts with selecting the salesperson who acts as the  representative of an organization. They help to create an image and  reputation of the company apart from increasing the sales by offering  various products and services to the industrial buyers. In addition to  giving the details on product features to their prospective buyers, they  offer other services like technical assistance, recommendations, ideas,  and sharing their experience. They also posses the skills that are Continue reading

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Importance of Management Control in an Organization

Importance of Management Control Control is an indispensable function of management. Without control function, the management process is incomplete. In business organizations, the need for control arises due to several factors; Firstly, it is difficult to establish fully accurate standards of performance in large and complex organizations. An executive needs all kinds of timely information, which are not always available. Control is required to judge the accurate of standards. Secondly, there are several temptations in business. Employees are entrusted with large sums of money and valuable resources. In the absence of control employees may yield, to these temptations. An efficient control system helps to minimize dishonest behavior on the part of employees. Thirdly, in the absence of control employees may become lax in their efforts and their performance may be below normal. The signals at, a busy road crossing very well illustrates the significance of control. Just as road signals Continue reading

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Benefits or Advantages of Investing in Mutual Funds

Mutual fund is an investment vehicle that pools together funds from investors to purchase stocks, bonds or other securities. An investor can participate in the mutual fund by buying the units of the fund. Each unit is backed by a diversified pool of assets, where the funds have been invested. A closed-end fund has a fixed number of units outstanding. It is open for a specific period. During that period investors can buy it. The initial offer period is terminated at the end of the pre-determined period. The closed-end schemes are listed in the stock exchanges. The investor can trade the units in the stock markets just like other securities. The prices may be either quoted at a premium or discount. In the open-end schemes, units are sold and bought continuously. The investors can directly approach the fund managers to buy or sell the units. The price of the unit Continue reading

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Foreign Exchange Restrictions

Although the direct intervention methods referred to have influenced many exchange rates, they do not fully serve the needs of countries with a continuous shortage of foreign exchange. To supplement the direct measures many countries adopted a number of foreign exchange restrictions. Most countries have employed foreign exchange restrictions from time to time. Developing countries especially have found restrictions necessary to secure compliance with their development plans. An exchange restriction plan implies that the government restricts the uses to which the available supply of exchange shall be put. Foreign exchange may be allocated specially for the payment of import bills, interest on foreign loans, and on other specific purposes. Sometimes the restrictions prevent the use of exchange for trade with a given (unfriendly) country. In the latter case the purpose may be political, but the basic reason for most foreign exchange restrictions is the shortage of foreign exchange sufficient to Continue reading

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