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

Strategy Diamond – The Five Elements of Strategy

All organizations have strategies. The real question for a business is not whether it has a  strategy but rather whether its strategy is effective or ineffective, and whether the elements  of the strategy are chosen by managers, luck, or by default. You have probably heard the  saying, “luck is a matter of being in the right place at the right time”–well, the key to  making sure you are in the right place at the right time is preparation, and in many ways,  strategizing provides that type of preparation. Luck is not a bad thing.    The challenge is to  recognize luck when you see it, capitalize on luck, and put the organization repeatedly in  luck’s path. The strategy diamond model was developed by strategy researchers Don Hambrick and Jim  Fredrickson as a framework for checking and communicating a strategy.  The strategy diamond framework can be used systematically to examine a Continue reading

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Retail Selling Process – Personal Selling Process

Retail selling as the name suggests involves personal contacts. Advertising, on the other hand, involves no personal contact. Sales promotion is different from both these techniques. Now let us briefly explain about the Retail selling, its definition, qualities of retail seller and objectives . Salesmanship and Retail Selling The success of a marketing firm really depends on its effectiveness in creating a demand for its products and how effectively it satisfies its customers. To create a demand for the product, usually three techniques are employed by the marketing firms, namely, Personal Selling, Advertising and Sales Promotion. Of them personal selling has assumed an ever increasing importance than other techniques. The number of people employed in advertising is in thousands whereas in personal selling (retail selling) the number is in millions. Personal selling occurs where an individual salesperson sells a product, service or solution to a client. Salespeople match  the benefits Continue reading

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What is Activity Based Costing (ABC)?

Changing external business environment has resulted in further developments in the tools and techniques used for management accounting. Traditional management accounting techniques had certain limitations associated with them, for instance, absorption costing methods have been found to be inappropriate in the modern environment. Similarly, standard costing’ suitability with respect to its general philosophy and detailed operations has come under severe criticism. It is believed that traditional management accounting performance measures can produce the wrong type of response. As a response to the limitations of traditional accounting techniques, activity based approaches has gained significant repute. In the case of activity based approaches, the focus is on the activities that the business carries out as opposed to how the activities have traditionally been organised into separate functions. Activity based costing was thus developed because it was realized that older methods like absorption costing, which used labor hours as the basis for absorbing Continue reading

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Concept of Virtual Network Structure (VNS)

In today increasingly stiff competitive environment, organisational structure is becoming a very important role to a company in the market competition. The organisational structure is explained as the formal decision-making framework that will be done by dividing, grouping and coordinating job tasks. However, in order to design organisation structure managers need to address six key elements, those are work specialization, departmentalization, chain of command, span of control, decentralization and formalization. Secondly, for the face on the sharply environment change, HR managers should divide the tasks and then coordinate those, in essence balancing job-related specialization with group, inter group, and organisation-based integration as necessary. They also said that organisational structure defines the firm’s decision-making authority and serves as the connecting fibers between the company’s strategy, the actions and behaviors of members. For example, organization must design structure that facilitates close to coordination between the activities of manufacturing and those of research, Continue reading

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Theoretical Perspectives on Firm Internationalization

After the World War II, there has been rapid growth in international trade in both goods and services, resulting in various transactions across national borders for the purpose of satisfying the needs of individuals and organisations. The result of this global competition has forced organisations to expand their business by finding out new markets at home and foreign countries making them ‘Transnational firms’. Transnational Corporations (TNC) is defined as a firm that has power to co-ordinate and control operations in more than one country, even if it does not own them. The significance of TNC lies mainly in its ability to co-ordinate and control different transactions within transnational production networks, ability to take advantage of distribution factors of production and ability to be flexible in locations. The growing TNCs led to various patterns and trends in international business like rapid growth in world trade and investment, cross border mergers and Continue reading

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Interest Rate Concepts

In market economy, there are many economic-financial categories, including credit and credit interest rate which are two of the most important ones. Credit activities are borrowing and lending activities. The capital-using relationship between  borrowers and lenders bases on the principles of reimbursement.  Lenders who are in excess of capital have opportunities not only to preserve but also capital get profit.  Borrowers who are short of capital have chances to get additional capital to meet production, business or living needs. Therefore,  owing to the credit activities that a large proportion of capital in the economy are mobilized,  concentrated and distributed from temporary capital surplus sections to shortage ones to meet  different needs of all entities in the economy. Indispensable leverage and tool in credit activities is interest rate.  Interest rate of bank credit is the ratio in percentage between income and amount of loan for a certain period.  Thus, interest rate Continue reading

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