Participative Management – Workers Participation in Management

Human Resource Management

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Business Analysis

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Human Resource Management

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General Business Articles

Concepts of Throughput Accounting and Theory of Constraints

Financial Management

Case Study on Ethics: British Petroleum Deepwater Horizon Oil Spill

Business ethics is an important aspect in the attainment of organizational success. Businesses follow certain rules that govern their activities and processes in order to avoid involvement in unethical business practices. However, despite the existence of business regulations and legislation, businesses still engage in unethical practices due to factors such as negligence and financial greed. In 2010, BP Oil Company was involved in an ethical incident dilemma that led to huge fines that affected the company’s bottom line. The BP oil spill refers to an oil spill that occurred in the Gulf of Mexico. It was so severe that it was described as the worst oil spill in the history of the United States’ oil industry. It occurred after a Deepwater Horizon oil rig exploded, sank, and spilled oil for more than two and half months. The accident caused severe environmental damages and led to the demise of 11 people. According Continue reading

Abey Francis

Idea of Workers Participation in Management

Workers participation in management refers to the involvement of employees in the decision-making process and management activities of an organization. This approach to management is based on the belief that employees are valuable assets to the company and should be given a voice in the direction and operations of the organization. Workers participation in management can take various forms, including collective bargaining, works councils, employee representation on boards, and employee involvement programs. The concept of workers participation in management has its roots in the labor movement of the late 19th and early 20th centuries. During this time, workers were organizing to improve their working conditions and wages, and were calling for a greater say in the decisions that affected their lives. Over time, workers participation in management has evolved and become an important aspect of modern management practices. Today, workers participation in management is widely recognized as a way to Continue reading

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Global Impact of Information and Communication Technology (ICT)

In recent years, the evolution of the concept of training has been dazzled by the emergence and consolidation of information and communications technologies (ICT), the Internet and its implementation on the World Wide Web has facilitated access to all types of necessary information, causing a considerable increase in interactivity between people from different continents and countries of the world, providing the possibility of developing their skills and abilities for teleworking, multicultural interaction, access to information, knowledge and education with the objective of reducing the digital divide, this being the subject addressed in this article. Globalization consists of the increasing communication between the different countries of the world unifying their societies, societies and cultures markets, through a series of transformations at a global level.  Communications and computing are the engine of globalization, since that advances in computing and electronic elements used for communications have been admirable in the field of global Continue reading

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Buyers Credit and Suppliers Credit

Buyer’s Credit Buyer’s Credits are a form of Eurocurrency loans designed to finance a  specific transaction involving import of goods and services. Under this arrangement,  lending bank(s) pay the exporter on presentation of shipping documents. The  importer works out a deferred payment arrangement with the lending bank, which the  bank treats as a loan. Large loans are club loans or syndicated loans. Many  provisions in the loan agreement are quite similar to a general purpose syndicated  credit. However, a number of formalities have to be completed before the exporter  can draw funds. The interest rate of the loan is linked to a market index such as  LIBOR. In some cases, a state Export Credit Agency from the exporter’s country  may pay a subsidy to the banks so that an attractive funding cost can be offered to the  importer. Another aspect is the Line of Credit. Lines of Credit are like Continue reading

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The Bretton Woods System – Background, Design and Reasons for Collapse

Since the beginning of the 19th century, globalization, international trade and free trade between countries became the new economic order and several attempts have been made since then to develop policies and schemes to ensure the stability of the international monetary system. It is safe to say that in truth, the world economy has never been in a state of utopia, but nevertheless, we have never stopped trying to attain such. The Bretton Woods era of 1944 to 1977, one of the few fairly successful schemes the world powers created in trying to achieve economic utopia, though existed for a short period, has been accredited as being one of the most successful international monetary systems, so impressive was the economic stability and growth of the era that there have been ongoing talks for a comeback of the system. Background of the Bretton Woods System At the end of the World Continue reading

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Kaizen – Definition, Meaning, Process, Implementation, Advantages and Disadvantages

What is Kaizen? Japan’s management philosophy has introduced a new creative strategy for competitive success in business, or the so-called “Kaizen” model. The term Kaizen began to receive attention from management experts and scholars around the world when Masaaki Imai published his first book in 1986, “The Key to Japan’s Competitive Success”. Kaizen is a Japanese word with literally mean improvement, taken from words ‘Kai’, which means continuous and ‘zen’ which means improvement. Some translate ‘Kai’ to mean change and ‘zen’ to mean good, or for the better.  In the context of Lean manufacturing, kaizen is understood to signify small, incremental, and frequent improvements to a process. Lean philosophy states that the large improvement which just require small amounts of investment and risk. The kaizen main mindset is making process improvements without adding people and space to the process. The more important one is implement the change without spending the Continue reading

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